Summary of MARKET LEADER, INC.

Entry into a Material Definitive Agreement, Creation of a Direct Financial Ob

Item 1.01. Entry into a Material Definitive Agreement

On April 8, 2009, Market Leader, Inc. (the "Company") and MEPT Kirkland Office II LLC (the "Landlord"), as successor-in-interest to Multi-Employer Property Trust, entered into the third amendment to the lease agreement (the "Amended Lease") for the Company's corporate headquarters. The Amended Lease is effective March 1, 2009. Pursuant to the Amended Lease, the termination date of the lease was extended from December 31, 2010 to June 30, 2013.

Effective March 1, 2009, the size of the leased space was decreased from approximately 65,469 square feet to approximately 25,309 square feet. The new monthly base rent from March 1, 2009 to June 30, 2010 is approximately $28,473, subject to an overpayment credit for March 2009. The monthly base rent for the 12 months ended June 30, 2011, 2012 and 2013 is approximately $36,909, $38,196 and $39,545, respectively. In addition, the Company will continue to pay its allocable share of building operating expenses (common area maintenance, building insurance, and property taxes). However, its allocable share of those expenses has been reduced from 100% to approximately 40%. In the event of default (as defined in the original lease agreement), the Landlord may accelerate the remaining lease payments required under the Amended Lease.

Subject to certain conditions set forth in the Amended Lease, the Company has an option to extend the lease term for five years. Any such extension will be on the same terms, covenants and conditions as the original lease agreement, as amended, except that the monthly base rent during the extension period will be equal to the "fair market rental rate" (as defined in the Amended Lease).

A copy of the Amended Lease is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.