Exhibit 10.26

UNITED ONLINE, INC.
2008 MANAGEMENT BONUS PLAN

I.     PURPOSES OF THE PLAN

1.01    The
United Online, Inc. (the "Company") 2008 Management Bonus Plan (the
"Plan") is hereby established to promote the interests of the Company by creating an incentive program to (i) attract and retain employees who
will strive for excellence and (ii) motivate those individuals to set and achieve above-average objectives by providing them with rewards for contributions to the financial performance of one
or more business segments of the Company.

1.02    For
purposes of the Plan, the financial performance of one or more both of the following business segments of the Company (the "Business
Segments") for the 2008 fiscal year shall be measured to determine the bonus amounts (if any) payable for such fiscal year to the participants in the
Plan:



Accordingly,
some participants may earn their bonuses based on the combined performance of the two Business Segments, and other participants may earn their bonuses based on the
performance of a singe Business Segment.

II.    ADMINISTRATION OF THE PLAN

2.01    The
Plan is hereby adopted by the Compensation Committee of the Company's Board of Directors (the "Committee") and shall
be administered by the Committee pursuant to the powers provided to the Committee by the Company's Board of Directors.

2.02    The
bonuses that may be earned under the Plan shall be tied to the financial performance of the applicable Business Segment or Segments for the Company's 2008 fiscal
year ending December 31, 2008 (the "2008 Year").

2.03    The
interpretation and construction of the Plan and the adoption of rules and regulations for administering the Plan shall be made by the Committee in its sole
discretion. Decisions of the Committee shall be final and binding on all parties who have an interest in the Plan.

III.  DETERMINATION OF PARTICIPANTS

3.01    The
following individuals (each a "Participant") will participate in the Plan on the following basis:



3.02    A
Participant shall be eligible to receive a bonus under the Plan if employed by the Company or any of its subsidiaries on the date such bonus is paid in accordance
with Section 5.01 of the Plan (the "Bonus Payment Date"). If a Participant is not employed by the Company or one of its subsidiaries on the Bonus
Payment Date, then such individual will not be eligible to receive a bonus under the Plan;provided, however, that the following special partial payment
provisions shall be in effect:



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3.03    For
purposes of the Plan:



IV.    BONUS AWARDS

4.01    The
individual bonus award payable under the Plan to each Participant for the 2008 Year shall be in the form of a stock bonus payable in shares of the Company's common
stock ("Common Stock"), with the number of such shares to be based on the performance of the Business Segment or Segments to which that Participant has
been assigned in accordance with Section 3.01. For Participants assigned to both the Communications and Classmates Media Business Segments, performance shall be measured in terms of the
combined revenue and operating income before depreciation, amortization and certain other expenses ("Adjusted OIBDA") for both Business Segments.
Accordingly, 50% of their bonus entitlement shall be based upon the achievement of the combined revenue targets ("Combined Revenue Targets") specified
for those two Business Segments in attachedSchedule I, and the remaining 50% of their bonus entitlement shall be based upon the achievement of
the combined Adjusted

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OIBDA
targets ("Combined Adjusted OIBDA Targets") specified for those two Business Segments in attached Schedule I. For participants assigned to
either the Communications Business Segment or the Classmates Media Business Segment, performance shall
be measured in terms of the revenue and Adjusted OIBDA for the particular Business Segment to which each such Participant has been assigned. Accordingly, 50% of the bonus entitlement of each such
Participant shall be based upon the achievement of the revenue targets ("Segment Revenue Targets") specified for his assigned Business Segment in
attachedSchedule I, and the remaining 50% of his bonus entitlement shall be based upon the achievement of the Adjusted OIBDA targets
("Segment Adjusted OIBDA Targets") specified for that Business Segment in attachedSchedule I.

4.02    The
following provisions shall govern the calculation of the levels at which the Revenue Targets and Adjusted OIBDA Targets (whether measured on a Combined or Segment
basis) are attained for the 2008 Year and the determination of the bonus amounts based on those calculations:



4.03    The
Committee shall determine the actual level at which each applicable performance target for the 2008 Year has been attained and make the stock bonus calculations
required under the Plan. The Committee's determinations and calculations shall be included as part of the formal minutes of the meeting at which such determinations are made.

4.04    No
Participant shall earn or accrue any right to any portion of a bonus award hereunder until the Bonus Payment Date.

V.     PAYMENT OF BONUS AWARDS

5.01    The
actual bonus to which each Participant becomes entitled based on the level at which the Revenue and Adjusted OIBDA Targets (whether measured on a Combined or
Segment basis) are actually attained for the 2008 Year shall be paid in shares of Common Stock drawn from the Company's 2001 Stock Incentive Plan (the "Stock
Plan"). The actual number of shares of Common Stock payable to each Participant based on the attained level of such Revenue and Adjusted OIBDA Targets shall be determined in
accordance with the schedule set forth on attachedSchedule II. The bonus payments shall be distributed on the February 16, 2009 Bonus
Payment Date.

5.02    The
number of bonus shares allocated to each Participant in attached Schedule II at each level of performance attainment has been determined by dividing a
percentage of the Participant's base salary for the 2008 fiscal year (ranging from 50% to 100% of Mr. Goldston's base salary per performance target and from 30% to 70% of base salary per
performance target for all other Participants) by $10.79, the average of the daily closing prices of the Common Stock during the first

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quarter
of 2008. Solely for purposes of applying any severance benefit formula based on the bonus paid under this Plan to any Participant for the 2008 fiscal year, the amount of such bonus shall be
deemed equal to the cash amount obtained by multiplying (i) the number of shares of Common Stock to which the Participant becomes entitled under this Plan on the basis of the levels at which
the applicable Revenue and Adjusted OIBDA targets for the 2008 Year are attained by (ii) $10.79, as adjusted to reflect any stock splits, stock dividends or other similar events affecting the
outstanding number of shares of Common Stock without the Company's receipt of consideration, and shall not be deemed equal to the Fair Market Value (as defined in Section 5.04) of the bonus
shares issued to the Participant on the Bonus Payment Date.

5.03    Unless
the Participant is notified to the contrary by the Company (in writing or by electronic mail) at least thirty (30) days prior to the Bonus Payment, the
Company shall withhold, from the shares of Common Stock otherwise issuable to each Participant as his bonus payment hereunder, a portion of those shares with a "Fair Market Value" (as defined below)
on the issuance date equal to the applicable federal, state and local income and employment withholding taxes;provided, however, that (i) the
number of shares of Common Stock which the Company shall be required to so withhold shall not exceed in Fair Market Value the amount necessary to satisfy the Company's required tax withholding
obligations using the minimum statutory withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to supplemental taxable income and (ii) the Company
shall not withdraw the right to such stock withholding from any Participant who has a contractual right to such method of tax withholding in his employment agreement or any other agreement in effect
with the Company on the Bonus Payment Date. Should the Company provide notice to one or more Participants without such contractual rights that the stock withholding procedure is not to be utilized by
the Company, then those Participants must deliver a check to the Company for the applicable withholding taxes on the Bonus Payment Date.

5.04    For
purposes of the Plan, theFair Market Valueper share of Common Stock on any relevant date shall be equal to the
closing selling price per share on such date on the Nasdaq Global Select Market or, if such date is not a date on which the Common Stock is traded, then the closing selling price per share on the
Nasdaq Global Select Market for the immediately preceding trading date shall be determinative of Fair Market Value.

VI.   GENERAL PROVISIONS

6.01    The
Committee may at any time amend, suspend or terminate the Plan, provided such action is effected by written resolution. Moreover, the Committee reserves the right
to amend this Plan as may be necessary or appropriate to avoid adverse tax consequences under Section 409A of the Internal Revenue Code of 1986, as amended (the
"Code").

6.02    No
amounts awarded or accrued under this Plan shall actually be funded, set aside or otherwise segregated prior to payment. The obligation to pay the bonuses awarded
hereunder shall at all times be an unfunded and unsecured obligation of the Company. Plan participants shall have the status of general creditors and shall look solely to the general assets of the
Company for the payment of their bonus awards.

6.03    No
Participant shall have the right to alienate, pledge or encumber his/her interest in this Plan, and such interest shall not (to the extent permitted by law) be
subject in any way to the claims of the employee's creditors or to attachment, execution or other process of law.

6.04    Neither
the action of the Company in establishing the Plan, nor any action taken under the Plan by the Committee, nor any provision of the Plan, shall be construed so
as to grant any person the right to remain in the employ of the Company or its subsidiaries for any period of specific duration. Rather, each employee will be employed "at-will," which
means that either such employee or the Company may terminate the employment relationship at any time for any reason, with or without cause, subject in each case to any employment agreement between
such person and the Company or any of its subsidiaries.

6.05    This
is the full and complete agreement between the Participants and the Company with respect to their incentive bonus compensation for the 2008 fiscal year and the
related service period through the Bonus Payment Date. This Plan does not supersede, but is supplemental to, any provisions of any employment agreement to which any of the Participants in this Plan
may be party.

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Schedule ITargets

Targets Approved by the Compensation Committee.

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Schedule IIStock Bonus Amounts

Payout Level for
Revenue Target

Goldston
(# shares)

Payout Level
for Adjusted
OIBDA Target

Goldston
(# shares)1


44,149


1


44,1492


52,979


2


52,9793


66,224


3


66,2244


75,054


4


75,0545


79,4696


83,884


5


83,8847


88,299


6


88,299




Payout Level for
Revenue Target

Randall
(# shares)

Ray
(# shares)

Helfand
(# shares)

Jordan
(# shares)

Popek
(# shares)

Wisk
(# shares)

Taragan
(# shares)

McArthur
(# shares)1


12,228


12,171


10,452


8,505


12,228


11,569


8,877


14,3182


16,304


16,228


13,936


11,340


16,304


15,426


11,836


19,0913


20,380


20,285


17,421


14,175


20,380


19,282


14,796


23,8644


22,418


22,313


19,163


15,593


22,418


21,210


16,275


26,2515


24,456


24,342


20,905


17,010


24,456


23,139


17,755


28,6376


26,494


26,370


22,647


18,428


26,494


25,067


19,234


31,0247


28,532


28,399


24,389


19,845


28,532


26,995


20,714


33,410




Payout Level for
Adjusted OIBDA Target

Randall
(# shares)

Ray
(# shares)

Helfand
(# shares)

Jordan
(# shares)

Popek
(# shares)

Wisk
(# shares)

Taragan
(# shares)

McArthur
(# shares)1


12,228


12,171


10,452


8,505


12,228


11,569


8,877


14,3182


16,304


16,228


13,936


11,340


16,304


15,426


11,836


19,0913


20,380


20,285


17,421


14,175


20,380


19,282


14,796


23,8644


24,456


24,342


20,905


17,010


24,456


23,139


17,755


28,6375


26,494


26,370


22,647


18,428


26,494


25,067


19,234


31,0246


28,532


28,399


24,389


19,845


28,532


26,995


20,714


33,410


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