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Exhibit 10.35
HUMAN RESOURCES MEMORANDUM
TO: Theodore Russell Cahall Jr. (ID 101738)
FROM: Dave Harmon, EVP AOL Human Resources
CC: Gillian Pon, VP AOL Human Resources, Total Rewards
DATE: April 1, 2009
SUBJECT: Retention Bonus Program
This memo is to notify you that you are eligible to participate in a one-time, discretionary retention bonus program ("Retention Bonus Program") with AOL
LLC (together with its subsidiaries and affiliates, "AOL" or "the Company"). This letter sets forth the key terms and conditions of your participation in the
Retention Bonus Program.
1. Retention Bonus Program
a. Bonus Period. The Retention Bonus Program shall be effective from April 1, 2009 and shall end on March 31, 2010 ("Bonus Period").
b. Bonus Payment. Subject to the Bonus Conditions set forth below, the total retention bonus amount for which you may be eligible shall be a one-
time payment equal to $190,000, less applicable withholdings ("Bonus Payment").
2. Retention Bonus Conditions
Your eligibility for the Bonus Payment shall be subject to and dependent upon you meeting the following conditions:
a. Employment. You must be a full-time, active employee of the Company throughout the entire Bonus Period, subject to the following conditions:
(i) Prior to the end of the Bonus Period, if AOL terminates your employment without cause, as defined below, in exchange for your
execution and delivery of the Company's standard separation agreement which contains, among other obligations, a valid release of all
claims against the Company, you shall be entitled to receive any remaining, unpaid Bonus Payment under the Retention Bonus Program.
(ii) Prior to the end of the Bonus Period, if AOL terminates your employment for cause, as defined below, or if you resign your employment
for any reason, you will not be entitled to any Bonus Payment (or any pro rata Bonus Payment) for the Bonus Period. If during the Bonus
Period you move to another Time Warner entity, you will not be entitled to any Bonus Payment (or any pro rata Bonus Payment) for the
Bonus Period.