# EDGAR Filing Document

**Accession Number:** 0001800227
**File Stem:** 0001104659-26-049837
**Filing Date:** 2026-4
**Character Count:** 178285
**Document Hash:** d8ae0f88240b95e43e854abc436acdf4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-049837.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0001104659-26-049837

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260427

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Cost Associated with Exit or Disposal Activities

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IAC Inc.
- **CENTRAL INDEX KEY:** 0001800227
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 843727412
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39356
- **FILM NUMBER:** 26903280

**BUSINESS ADDRESS:**
- **STREET 1:** 555 WEST 18TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10011
- **BUSINESS PHONE:** (212) 314-7300

**MAIL ADDRESS:**
- **STREET 1:** 555 WEST 18TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10011

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IAC/InterActiveCorp
- **DATE OF NAME CHANGE:** 20200702

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IAC Holdings, Inc.
- **DATE OF NAME CHANGE:** 20200115

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

**April 27, 2026**

Date of Report (Date of Earliest Event Reported)

**IAC Inc.**

(Exact Name of Registrant as Specified in Its Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-39356** | **84-3727412** |
| (State or Other Jurisdiction | (Commission | (I.R.S. Employer |
| Of Incorporation) | File Number) | Identification No.) |

---

**555 West 18th Street**

**New York, NY 10011**

(Address of principal executive offices)

Registrant's telephone number, including area code: (212) 314-7300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

---

| |
|:---|
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

---

Securities registered pursuant to Section 12(b) of the Act:

---

| | |
|:---|:---|
| **Title of Each Class** | **Name of Exchange on Which Registered** |
| Common Stock, par value $0.0001 IAC | The Nasdaq Stock Market LLC<br> (Nasdaq Global Select Market) |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

**Item 2.02. Results of Operations and Financial Condition.**

**Item 7.01. Regulation FD Disclosure.**

On April 28, 2026, IAC Inc. (the "<u>Company</u>" or "<u>IAC</u>") announced the Company is changing its name to "People Incorporated" as it continues to sharpen its focus on its People Inc. business and its investment in MGM Resorts International. As part of the announcement, IAC Chairman and Senior Executive Barry Diller published a letter to shareholders outlining the rationale for the change. The letter includes financial highlights from Q1 2026. A copy of the release is being furnished as Exhibit 99.1 under both Item 2.02 "Results of Operations and Financial Condition" and Item 7.01 "Regulation FD Disclosure."

The information contained in Item 2.02 and Item 7.01, including Exhibit 99.1 furnished herewith, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), or otherwise subject to the liabilities of such section and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

**Item 2.05. Costs Associated with Exit or Disposal Activities.**

Ahead of its name change to "People Incorporated" which is expected to occur with the release of Q2 2026 earnings in August, the Company has initiated a plan to consolidate its corporate functions with those of its People Inc. business ("<u>People</u>"), through a reduction in workforce, technology integrations, and other cost-saving measures over the coming quarters (the "<u>Plan</u>"). The Plan is expected to generate annual run-rate cost savings of approximately $40 million. The Plan is expected to be completed by Q1 of 2027.

The Company expects to incur approximately $14 million in severance and related expenses, $48 million in non-cash stock-based compensation expense and $0.5 million to $1 million in other costs related to the Plan. The aforementioned non-cash stock-based compensation expense includes approximately $16 million of expense that accelerates based on the original terms of employee award agreements and $32 million of expense associated with awards that were modified to vest in connection with the Plan. The total costs expected to be incurred in connection with the Plan are approximately $63 million.

The estimates of the charges and expenditures that the Company expects to incur in connection with the Plan, and the timing thereof, are subject to a number of assumptions and actual amounts may differ materially from estimates. In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur in connection with the implementation of the Plan.

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

In connection with the Plan, Christopher Halpin will cease to serve as Executive Vice President, Chief Operating Officer and Chief Financial Officer of the Company, and Kendall Handler will cease to serve as Executive Vice President and Chief Legal Officer of the Company, in each case, effective on the filing of the Company's Form 10-Q for the quarter ending June 30, 2026 or such earlier date on which the executive's employment with the Company is terminated for any other reason (the "<u>Separation Effective Date</u>").

The Company expects that, upon the Separation Effective Date, Neil Vogel, who currently serves as Chief Executive Officer of People, will become Chief Executive Officer of the Company, and Tim Quinn, who currently serves as the Chief Financial Officer of People, will become Chief Financial Officer of the Company.

Mr. Halpin and Ms. Handler have each entered into employment transition agreements with the Company, each dated April 27, 2026 (the "<u>ETAs</u>"), pursuant to which, each executive will continue to serve in their respective positions through the Separation Effective Date. During such period, each executive will continue to receive their current base salary and be eligible to participate in the Company's benefit plans.

The ETAs provide that, upon termination of an executive's employment without cause, the executive's resignation for good reason or an automatic termination of employment upon the filing of the Company's Form 10-Q for the quarter ending June 30, 2026 (each a "<u>Qualifying Termination</u>"), subject to the execution and non-revocation of a release of claims by the executive, the executive will be entitled to: (i) base salary for 12 months paid bi-weekly, (ii) a discretionary bonus for the full 2026 calendar year, payable no later than March 15, 2027, and (iii) the full vesting of outstanding unvested equity awards and, for Ms. Handler, the right to exercise vested stock options through the original expiration date of March 29, 2027 (the "<u>Equity Award Treatment</u>"). The same payments and the Equity Award Treatment would be payable or provided upon an executive's termination due to death or disability prior to the date of a Qualifying Termination, subject to a release of claims.

Under the ETAs, each of Mr. Halpin and Ms. Handler have agreed to provide non-exclusive consulting services to the Company from the Separation Effective Date (other than for death or disability) through the filing of the Company's Form 10-K for the fiscal year ending December 31, 2026. In consideration for each executive's entering into an ETA and execution of a release in favor of the Company, the Company has provided a general release of claims in favor of each executive.

The ETAs will supersede the current employment agreements, by and between each of the executives and the Company, dated January 4, 2022 for Mr. Halpin, and December 31, 2020 for Ms. Handler, although the restrictive covenants contained in such employment agreements will remain in effect in accordance with their terms, other than the non-competition restriction which will lapse upon a Qualifying Termination.

The foregoing description of the ETAs in this Item 5.02 is qualified in its entirety by reference to the full text of each of the ETAs, copies of which are attached hereto as Exhibits 10.1 and 10.2, respectively, and incorporated herein by reference.

**Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995**

This Current Report on Form 8-K may contain "*forward-looking* statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as "anticipates," "estimates," "expects," "plans" and "believes," among others, generally identify *forward-looking* statements. These *forward-looking* statements include, among others, statements relating to: the Plan, the expected cost savings, expenses, costs, charges and expenditures relating thereto and other similar matters. Actual results could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others: (i) the impact of advances in artificial intelligence ("AI") and other digital technologies, including AI-enabled search features, on how users access and consume information and the resulting effects on traffic, engagement and monetization, (ii) our reliance on search engines and third-party platforms, including changes in algorithms, policies, economics or features (including those implemented by Google), as well as the potential expiration or modification of key commercial agreements, (iii) our ability to effectively market our products and services in a cost-efficient manner across evolving digital channels, (iv) our dependence on advertising revenue and the sensitivity of such revenue to macroeconomic conditions, including factors affecting advertiser demand, consumer confidence and discretionary spending, as well as geopolitical and broader market uncertainty, (v) our ability to adapt to changes in digital marketing practices, including limitations on data access, tracking technologies and targeting capabilities, (vi) our ability to develop, distribute and monetize our products and services across mobile and other platforms and maintain effective relationships with third-party partners, (vii) the continued growth, engagement and monetization of our digital publishing brands, (viii) risks related to our Print business, including ongoing revenue declines, cost pressures (including paper and postage), and reliance on key vendors, (ix) our ability to access, collect, use and protect personal data and comply with evolving privacy and data protection laws and platform restrictions, (x) our ability to effectively engage with users, subscribers and caregivers across communication channels, (xi) the concentration of voting control among our Chairman and Senior Executive and related parties, (xii) risks related to our liquidity and indebtedness, including our ability to service debt and comply with related covenants, as well as limitations on access to subsidiary cash flows, (xiii) risks related to strategic transactions and initiatives, including our ability to realize anticipated benefits from prior transactions and execute future initiatives, (xiv) competitive pressures in rapidly evolving industries, including from larger or better-positioned competitors and AI-enabled offerings, (xv) our ability to build, maintain and protect our brands, (xvi) cybersecurity risks, including increasingly sophisticated attacks (including those enabled by AI) and vulnerabilities at third-party providers, (xvii) data security breaches, fraud and related liabilities, (xviii) risks associated with the integrity, scalability and reliability of our systems, technology and infrastructure, (xix) the impact of general economic, geopolitical and public health conditions, (xx) our dependence on key personnel and leadership transitions, (xxi) volatility in our stock price and risks related to our capital allocation strategy and (xxii) risks related to the planned corporate consolidation. Certain of these and other risks and uncertainties are described in our filings with the Securities and Exchange Commission (the "SEC"), including the most recent Annual Report on Form 10-K filed with the SEC on February 20, 2026, and subsequent reports that we file with the SEC. Other unknown or unpredictable factors that could also adversely affect our business, financial condition and results of operations may arise from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those expressed in any forward-looking statements we may make. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. You should, therefore, not rely on these *forward-looking* statements as representing our views as of any date subsequent to the date of this Current Report on Form 8-K.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

---

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibit** |
| [10.1](tm2612831d1_ex10-1.htm) | [Employment Transition Agreement, dated April 27 2026, between IAC and Christopher Halpin.](tm2612831d1_ex10-1.htm) |
| [10.2](tm2612831d1_ex10-2.htm) | [Employment Transition Agreement, dated April 27, 2026, between IAC and Kendall Handler.](tm2612831d1_ex10-2.htm) |
| [99.1](tm2612831d1_ex99-1.htm) | [Press Release of IAC, dated April 28, 2026.](tm2612831d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| IAC INC. | IAC INC. |
| By: | /s/ Kendall Handler |
|  | Kendall Handler |
|  | *Executive Vice President, Chief Legal Officer & Secretary* |
| Date: | April 28, 2026 |

---

## Exhibit 10.1

**Exhibit 10.1**

<u>EMPLOYMENT TRANSITION AGREEMENT</u>

THIS EMPLOYMENT TRANSITION AGREEMENT (this "**Agreement**"), dated as of April 27, 2026, is by and between IAC Inc., a Delaware corporation (the "**Company**"), and Chris Halpin ("**Executive**").

WHEREAS, reference is made to the Employment Agreement, by and between Executive and the Company, effective January 4, 2022 ("**Employment Agreement**");

WHEREAS, Executive is currently employed as the Chief Operating Officer and Chief Financial Officer of the Company;

WHEREAS, the Company and Executive have mutually agreed that Executive will transition out of his role as Chief Operating Officer and Chief Financial Officer of the Company effective upon the filing of the Form 10-Q for the Company's second fiscal quarter of 2026 and, thereafter provide services to the Company as a consultant for a period ending no later than the date of the filing by the Company of the Form 10-K for the 2026 fiscal year; and

WHEREAS, the Company and Executive desire to set forth their respective rights and obligations regarding Executive's departure from the Company.

NOW, THEREFORE, in consideration of the covenants and conditions set forth herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Definitions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. **Accrued Obligations** means the sum of: (i) any portion of Executive's accrued but unpaid Annual Base Salary through the date of death or termination of employment for any reason, as the case may be; and (ii) any reimbursements that Executive is entitled to receive under Section 3A(c)(i) of the Employment Agreement or Section 2(c)(ii) of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. **Cause** has the meaning set forth in the Employment Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. **Disability** has the meaning set forth in the Employment Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. **Employment Termination Date** means the first to occur of (i) the filing of the Form 10-Q for the Company's second fiscal quarter of 2026 and (ii) such earlier date on which Executive's employment with the Company is terminated for any other reason, which shall be the date of death in the case of Executive's death, the Disability Date (as defined below) in the case of Executive's termination due to Disability and in all other cases, the date set forth in a notice of termination or as otherwise agreed between the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. **Executive Covenants** means the covenants set forth in Section 2 (Confidential Information; Non-Competition, Non-Solicitation of Employees; Non-Solicitation of Business Partners; Proprietary Rights and Compliance with Policies and Procedures) of the Standard Terms and Conditions of the Employment Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. **Good Reason** has the meaning set forth in the Employment Agreement. Executive agrees that the entry into of this Agreement does not constitute or give rise to a claim of Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. **Qualifying Termination** means (i) a termination of Executive's employment with the Company by the Company without Cause, other than as a result of death or Disability, (ii) a termination of employment with the Company by Executive for Good Reason, or (iii) the automatic termination of Executive's employment with the Company upon the Employment Termination Date described in clause (i) of Employment Termination Date. A Qualifying Termination does not include a termination by Executive of his employment voluntarily without Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. **Transition Period** means the period commencing on the date of this Agreement and ending on the Employment Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Transition Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Termination of Employment Agreement.* Effective as of the date of this Agreement, except as provided in Sections 2(c)(ii) and 6 of this Agreement, the Employment Agreement is terminated; *provided, however*, this Agreement is not intended to extinguish the second paragraph of Section 8 and the first sentence of Section 9 of the Employment Agreement to the extent required to survive following the Employment Termination Date to carry out the intentions of the parties with respect to the Executive Covenants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Employment During Transition Period*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>Position, Initial Powers/Responsibilities and Performance</u>. During the Transition Period, the Company shall continue to employ Executive, and Executive shall be employed, as Chief Operating Officer and Chief Financial Officer of the Company. During Executive's employment with the Company, Executive shall use good faith efforts to do and perform all services and acts reasonably necessary or advisable to fulfill the duties and responsibilities of Executive's position and to render such services in accordance with the generally applicable policies of the Company as in effect from time to time and otherwise on the terms set forth herein. For the avoidance of doubt, nothing in this Agreement requires Executive to perform duties inconsistent with his position.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. <u>Reporting</u>. During the Transition Period, Executive shall report solely and directly (A) to the Chairman and Senior Executive of the Company so long as Barry Diller holds such position, and (B) if Mr. Diller ceases to serve as Chairman and Senior Executive of the Company, to the Board (clauses (A) and (B) hereinafter referred to as the "**Reporting Authority**"). Executive agrees that any change in reporting authority as described in the proceeding sentence does not constitute or give rise to a claim of Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. <u>Full Time Service and Other Activities</u>. Executive agrees to devote all of Executive's working time, attention and efforts to the Company and to perform the duties of Executive's position in accordance with the Company's policies as in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. <u>Location</u>. Executive's principal place of employment shall be at the Company's offices located in New York, New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. *Compensation During Transition Period*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>Base Salary</u>. During the Transition Period, the Company shall continue to pay Executive an annual base salary of $750,000 (the "**Annual Base Salary**"), payable in equal biweekly installments (or, if different, in accordance with the Company's payroll practice as in effect from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. <u>Benefits</u>. Section 3A(c) of the Employment Agreement will remain in effect during the Transition Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Employment Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Disability*. If the Company determines in good faith that the Disability of Executive has occurred during the Transition Period (pursuant to the definition of Disability), it may give to Executive written notice in accordance with Section 18 of its intention to terminate Executive's employment. In such event, Executive's employment with the Company shall terminate effective on the 30th day after receipt of such notice by Executive if Executive does not return to full-time performance of Executive's duties within such 30-day period (the "**Disability Date**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Automatic Resignation*. Effective as of the Employment Termination Date, Executive's employment with the Company shall terminate, and Executive agrees that the occurrence of the Employment Termination Date shall constitute his automatic resignation from his positions as Chief Operating Officer and Chief Financial Officer of the Company and from any and all other positions held by Executive with the Company and its subsidiaries and other affiliated entities. Executive agrees to execute any such additional documentation as may be reasonably required to effectuate the resignations detailed in the immediately preceding sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Post-Separation Consulting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Consulting Period.* Following the Employment Termination Date (other than a termination due to Executive's death or Disability), Executive shall provide the consulting services contemplated by this Section 4 commencing on the Employment Termination Date and ending on the first to occur of (i) the filing of the Form 10-K for the Company's fiscal year 2026 and (ii) such earlier date as determined by the Company (such period, the "**Consulting Period**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Consulting Services*. During the Consulting Period, Executive shall provide consulting services to the Reporting Authority relating to the strategy of the Company and such other related matters, and involving such commitments of time (subject to Executive's other commitments), as Executive and the Reporting Authority from time to time mutually agree. Services will be performed remotely (virtually) unless Executive and the Reporting Authority otherwise mutually agree. Executive shall be indemnified by the Company for his services rendered during the Consulting Period (and legal fees and expenses advanced and kept current) on the same basis as if he were then a senior executive officer of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. *Other Employment.* The Company acknowledges that Executive is not prohibited by this Section 4 from obtaining employment with or otherwise providing services to another entity during the Consulting Period; <u>provided</u> that Executive shall remain subject to the Executive Covenants to the extent set forth in Section 6 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. *Independent Contractor Status.* Executive acknowledges and agrees that his services during the Consulting Period are to be rendered as an independent contractor and Executive shall not be considered an employee of the Company or any of its affiliates for tax purposes or for any other purposes whatsoever. Executive agrees that during the Consulting Period Executive will not be an agent of the Company or any of its affiliates, and that Executive will have no authority, implied or actual, to act on behalf of the Company or any of its affiliates or to enter into any agreement that would bind the Company or any of its affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Separation Benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Qualifying Termination.* If during or upon the end of the Transition Period, Executive's employment terminates and such termination constitutes a Qualifying Termination, subject to Executive's execution of the supplemental release in the form attached as <u>Exhibit A</u> to this Agreement (the "**Supplemental Executive Release**") within twenty-one (21) calendar days following the Employment Termination Date, and the non-revocation of the Supplemental Executive Release during the seven-day period following execution of the Supplemental Executive Release (together, the "**Supplemental Release Conditions**") (except with respect to the payment of Accrued Obligations), and in consideration for Executive's compliance with the Executive Covenants, service through the Transition Period, and provision of services during the Consulting Period pursuant to the terms of Section 4, the Company shall pay or provide to Executive, as applicable, after the effective date of the Supplemental Executive Release, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. an amount equal to the Annual Base Salary that would be paid for twelve (12) months from the date of such termination with such amount to be paid in equal biweekly installments (or, if different, in accordance with the Company's payroll practice as in effect from time to time) over the course of a period of twelve (12) months beginning in the second month following the month in which the Employment Termination Date occurs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. any Accrued Obligations in a lump sum cash payment within thirty (30) days of the Employment Termination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. full vesting as of the Employment Termination Date of all compensation awards held by Executive based on, or in the form of, Company equity (e.g., restricted stock, restricted stock units, stock options or similar instruments) that are outstanding and unvested at the time of the Employment Termination Date (the "**Equity Award Treatment**"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. a discretionary annual bonus (the "**Discretionary Annual Bonus**") in respect of the full calendar year 2026 (regardless of when the Employment Termination Date occurs) with the amount of any such bonus to be determined by the Compensation and Human Resources Committee of the Board in its sole discretion, consistent with past practice, based on factors it deems relevant, and paid at such time as annual bonuses are paid to other executive officers of the Company, but no later than March 15, 2027.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Termination Due to Death or Disability*. If during the Transition Period, Executive's employment is terminated by reason of Executive's death or by the Company due to Disability, the Company shall pay or provide to Executive or Executive's estate or beneficiary, as applicable, a lump sum cash payment equal to Executive's Annual Base Salary (to be paid in the second month following the month in which the Employment Termination Date occurs) (the "**Lump Sum Salary Payment**"), the Accrued Obligations, the Discretionary Annual Bonus and Equity Award Treatment (which Accrued Obligations, the Discretionary Annual Bonus and Equity Award Treatment shall be provided consistent with the timing applicable upon a Qualifying Termination), with all such payments and benefits to be subject to the effectiveness (and non-revocation) of a Supplemental Executive Release by Executive (or Executive's estate or legal representative, as applicable), to the extent that an effective Supplemental Executive Release is a condition to the payment of any such amounts or benefits under Section 5(a); provided, that, the Supplemental Executive Release may be executed within ninety (90) days following the Employment Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. *Termination by the Company with Cause; Resignation by Executive without Good Reason*. If, during the Transition Period, Executive's employment is terminated by the Company for Cause or by Executive without Good Reason, Executive will only be entitled to receive the Accrued Obligations (paid as set forth in Section 5(a)).

The payment to Executive of the separation benefits described in this Section 5 shall be subject to Executive's provision of the consulting services as contemplated by Section 4 of this Agreement and compliance with the Executive Covenants to the extent set forth in Section 6 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Executive Covenants. The Executive Covenants are incorporated by reference into this Agreement *mutandis mutatis* and shall remain in effect in accordance with their terms; <u>provided</u> that in the event that Executive's employment hereunder is terminated due to a Qualifying Termination then the restrictive covenant set forth in Section 2(b) (Non-Competition) of the Employment Agreement shall lapse on the date of such Qualifying Termination. Nothing in the Executive Covenants or this Agreement shall impair Executive's rights under the whistleblower provisions of any applicable federal law or regulation or limit Executive's right to receive an award for information provided to any government authority under such law or regulation. The Company shall provide Executive with written notice of any alleged violation of the Executive Covenants and not less than thirty (30) days to cure, if curable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Mutual Release.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Executive Release of Company*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. For and in consideration of the payments provided for and promises made by the Company herein and other good and valuable consideration, Executive and Executive's heirs, executors, administrators, trustees, legal representatives, and assigns (collectively, the "**Executive Releasors**") hereby waive, release, and forever discharge the Company and its subsidiaries and affiliates, and its and their respective divisions, branches, predecessors, successors, assigns, and past or present directors, officers, employees, agents, partners, members, stockholders, representatives, attorneys, consultants, independent contractors, trustees, administrators, insurers, and fiduciaries, in their individual and representative capacities (collectively, the "**Company Releasees**"), of and from any and all actions, causes of action, complaints, charges, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands (including attorneys' fees, costs, and disbursements actually incurred), whether known or unknown, at law or in equity, suspected or unsuspected, of every kind and nature whatsoever, in each case, related to Executive's employment with or severance from the Company, including without limitation with respect to wrongful or tortious termination, constructive discharge, breach of implied or express employment contracts and/or estoppel, discrimination and/or retaliation, libel, slander, non-payment of wages or other compensation, including grants of stock options or any other equity compensation, in each case under any federal, state, or local laws, statutes, rules, or regulations of any type or description, including without limitation under Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Age Discrimination in Employment Act; the Rehabilitation Act; the National Labor Relations Act; the Fair Labor Standards Act; the Americans With Disabilities Act; the Family Medical Leave Act; the Employee Retirement Income Security Act; the Reconstruction Era Civil Rights Act; the New York State Executive Law, and the New York City Human Rights Law, each as amended, and any other claim of discrimination, harassment, or retaliation in employment (whether based on federal, state, or local law, statutory or decisional), which the Executive Releasors or any of them ever had, now have, or hereafter shall or may have against the Company Releasees or any of them for, upon, or by reason of any matter, cause, or thing whatsoever from the beginning of the world to the date that Executive signs this Agreement. Without limiting the generality of the foregoing, except as expressly set forth in this Agreement, the Executive Releasors expressly waive any right or claim for reinstatement of employment, back pay, interest, bonuses, damages, accrued vacation, accrued sick leave, medical, dental, optical, or hospitalization benefits, accidental death and dismemberment coverage, long-term disability coverage, stock or other interests in the Company or any subsidiary or affiliate thereof, life insurance benefits, overtime, severance pay, and/or attorneys' fees or costs with respect to or derivative of such employment with the Company or the severance thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Executive acknowledges and agrees that by virtue of the foregoing, Executive has waived any relief available to Executive (including without limitation monetary damages, equitable relief, and reinstatement) under any of the claims and/or causes of action waived in this Section 7(a). Executive therefore agrees that Executive will not seek or accept any award of damages or settlement relating to any purported damages from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this Agreement. Notwithstanding anything to the contrary set forth in this Section 7(a), Executive does not release, waive, or discharge the Company from (i) any claims to seek to enforce this Agreement or (ii) any claims for indemnification, advancement of expenses or contribution with respect to any liability incurred by Executive as a director or officer of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. For the purpose of implementing a full and complete release and discharge of the Company Releasees, Executive acknowledges that this Agreement is intended to include in its effect, without limitation, all claims or other matters described in this Section 7(a) that neither party knows or suspects to exist in Executive's favor at the time of execution hereof, and that this Agreement contemplates the extinguishment of any and all such claims or other such matters. The Company Releasees who are not a party to this Agreement are third-party beneficiaries of this Agreement and are entitled to enforce its provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. This release contained in this Section 7(a) specifically excludes (i) any claims arising after the execution of this Agreement, (ii) Executive's rights and the Company's obligations under this Agreement, (iii) the right to indemnification and/or advancement Executive has or may have under this Agreement, the by-laws and/or certificate of incorporation of the Company or any of its subsidiaries or affiliates or as an insured under any director's and officer's liability insurance policy now or previously in force and (iv) Executive's rights as a stockholder and/or holder of any vested equity awards in respect of Company common stock (including without limitation any equity awards which become vested pursuant to this Agreement). Nothing contained in this Section 7(a) shall release Executive from Executive's obligations, including any obligations to abide by the Executive Covenants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. The Company hereby informs Executive that, notwithstanding any provision of this Agreement to the contrary, an individual may not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i) is made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law, or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. Further, an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the employer's trade secrets to the attorney and use the trade secret information in the court proceeding if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order. In addition, notwithstanding anything in this Agreement to the contrary, nothing in this Agreement shall impair Executive's rights under the whistleblower provisions of any applicable federal law or regulation or, for the avoidance of doubt, limit Executive's right to receive an award for information provided to any government authority under such law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Company Release of Executive*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. For and in consideration of the promises made by Executive herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company, on its behalf, and on behalf of its predecessors, affiliates and successors, and each of its past, present and future officers, directors, employees, representatives, attorneys, insurers, agents and assigns, individually and in their official capacities (collectively the "**Company Releasors**"), hereby waives, releases and forever discharges Executive and Executive's heirs, executors, administrators, trustees, legal representatives, and assigns (collectively, the "**Executive Releasees**") from any and all actions, causes of action, complaints, charges, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands (including attorneys' fees, costs, and disbursements actually incurred), whether known or unknown, at law or in equity, suspected or unsuspected, of every kind and nature whatsoever, in any way resulting from, arising out of or connected with Executive's employment by the Company or any of its subsidiaries or other affiliates or pursuant to any federal, state or local law, regulation or other requirements, including, without limitation, those arising under common law, which the Company Releasors or any of them ever had, now have, or hereafter shall or may have against the Executive Releasees or any of them for, upon, or by reason of any matter, cause, or thing whatsoever from the beginning of the world to the date that the Company signs this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. The Company acknowledges and agrees that by virtue of the foregoing, the Company has waived any relief available to the Company (including without limitation monetary damages, equitable relief, and reinstatement) under any of the claims and/or causes of action waived in this Section 7(b). The Company therefore agrees that the Company will not seek or accept any award of damages or settlement relating to any purported damages from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this Agreement. Notwithstanding anything to the contrary set forth in this Section 7(b), the Company does not release, waive, or discharge Executive from any claims to seek to enforce this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. For the purpose of implementing a full and complete release and discharge of the Executive Releasees, except as provided in Section 7(b)(iv) of this Agreement, the Company acknowledges that this Agreement is intended to include in its effect, without limitation, all claims or other matters described in this Section 7(b) that neither party knows or suspects to exist in the Company's favor at the time of execution hereof, and that this Agreement contemplates the extinguishment of any and all such claims or other such matters. The Executive Releasees who are not a party to this Agreement are third-party beneficiaries of this Agreement and are entitled to enforce its provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Excluded from the scope of this release is (A) any claim arising after the effective date of this Agreement, (B) any claims that seek to enforce this Agreement, (C) any claims relating to Executive's commission of fraud or criminal acts against Company or its affiliates or other substantial, willful and intentional misconduct related to Executive's employment with the Company or any of its affiliates, and (D) any claim under the Company's compensation recovery policy as in effect on the date hereof or as subsequently modified to the extent required by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. The release of Executive contained in this Section 7(b) shall be void and of no effect if Executive revokes the release contained in Section 7(a) of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Full Settlement; No Obligation to Mitigate; Effect of Certain Terminations of Employment; Indemnification; Cooperation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Full Settlement*. Executive agrees that the payments and benefits contemplated by Section 5 of this Agreement shall be in full satisfaction of any rights and benefits due to Executive upon a Qualifying Termination, including, without limitation, any rights and benefits under the Employment Agreement. Executive acknowledges that the payments and benefits to which he becomes entitled pursuant to Section 5 of this Agreement shall not be considered in determining his benefits under any plan, agreement, policy or arrangement of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *No Obligation to Mitigate*. In no event shall Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement, and such amounts shall not be reduced whether or not Executive obtains other employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. *Effect of Certain Terminations of Employment*. If Executive's employment with the Company is terminated other than as a result of a Qualifying Termination or under Section 5(b), Executive shall only be entitled to the Accrued Obligations, which shall be paid within thirty (30) days following the employment termination date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. *Indemnification*. The Company shall indemnify and hold Executive harmless for acts and omissions in Executive's capacity as an officer, director or employee of the Company to the maximum extent permitted under applicable law; <u>provided</u>, <u>however</u>, that neither the Company, nor any of its subsidiaries or affiliates shall indemnify Executive for any losses incurred by Executive as a result of acts described in the definition of Cause. The Company shall also advance, and keep current, Executive's legal fees and expenses in such matter(s), subject to an undertaking from Executive to repay such advances if it shall be finally determined by a judicial decision that Executive was not entitled to advancement or reimbursement of such fees and expenses. The Executive's termination of employment shall not impact the Executive's right to coverage under the Company's D&O insurance policies for any actions or inactions of Executive prior to the date of termination of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. *Cooperation*. Executive agrees to reasonably cooperate with the Company following the Employment Termination Date concerning business or legal matters about which Executive had knowledge during his employment. In scheduling matters related to such cooperation, the Company shall accommodate to the extent possible Executive's business and personal commitments. The Company will pay Executive his reasonable out-of-pocket expenses incurred in connection therewith in accordance with the Company's reimbursement policy for Executive Vice President level officers of the Company as in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Tax Withholding. All payments and benefits provided to Executive under this Agreement will be less any applicable withholdings for federal, state and local taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Entire Agreement. This Agreement, the Supplemental Executive Release and the Supplemental Company Release constitute the entire agreement between the parties with respect to the subject matter hereof, and supersede any and all prior agreements or understandings between the parties arising out of or relating to Executive's employment and the cessation thereof. Notwithstanding the foregoing, Executive acknowledges and agrees that compensation previously provided to Executive or provided to Executive under this Agreement shall be subject to the Company's compensation recovery policy as in effect on the date hereof or as subsequently modified to the extent required by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Governing Law; Jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The Executive Covenants and the legal relations thus created between the parties hereto (including, without limitation, any dispute arising out of or related to the Executive Covenants) shall be governed by and construed under and in accordance with the laws of the State of New York applicable to agreements made and to be performed entirely within such State.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Other than the Executive Covenants, this Agreement and the legal relations thus created between the parties hereto (including, without limitation, any dispute arising out of or related to this Agreement) shall be governed by and construed under and in accordance with the laws of the State of Delaware applicable to agreements made and to be performed entirely within such State.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. The Company may seek equitable relief in court as provided for in the Executive Covenants. Any dispute under this Agreement will be heard and determined before the Delaware Chancery Court located in Wilmington, Delaware, or, if not maintainable therein, then an appropriate federal court located in Wilmington, Delaware, and each party hereto submits itself and its property to the non-exclusive jurisdiction of the foregoing courts with respect to such disputes. Each party hereto (i) agrees that service of process may be made by mailing a copy of any relevant document to the address of the party set forth above, (ii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the courts referred to above on the grounds of inconvenient forum or otherwise as regards any dispute between the parties hereto arising out of or related to this Agreement, (iii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the laying of venue in the courts referred to above as regards any dispute between the parties hereto arising out of or related to this Agreement and (iv) agrees that a judgment or order of any court referred to above in connection with any dispute between the parties hereto arising out of or related to this Agreement is conclusive and binding on it and may be enforced against it in the courts of any other jurisdiction. Nothing herein shall prevent the Company from seeking equitable relief in court as provided for in the Executive Covenants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Severability of Provisions. Each of the sections contained in this Agreement shall be enforceable independently of every other section in this Agreement, and the invalidity or non-enforceability of any section shall not invalidate or render unenforceable any other section contained in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. This Agreement shall not be assignable by Executive. If Executive shall die before all the payments required by this Agreement to be made to Executive have been made, then all remaining payments shall be made to Executive's estate or such person or trust as Executive shall designate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Waivers. No failure on the part of either party to exercise, and no delay in exercising, any right or remedy under this Agreement shall operate as a waiver thereof; nor shall any single or partial exercise of any right or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right or remedy granted hereby or by any related document or by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Modification. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by both Executive and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall be one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. Section 409a.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. This Agreement is intended to comply with the requirements of Section 409A of the Code (including any amendments or successor provisions and any regulations and other administrative guidance thereunder, "**Section 409A**"). To the extent that any provision in this Agreement is ambiguous as to its compliance with Section 409A or to the extent any provision in this Agreement must be modified to comply with Section 409A (including, without limitation, Treasury Regulation 1.409A-3(c)), such provision will be read, or will be modified (with the mutual consent of the parties, which consent will not be unreasonably withheld), as the case may be, in such a manner so that all payments due under this Agreement will comply with Section 409A, while endeavoring to maintain the economic intent of this Agreement. For purposes of Section 409A, each payment made under this Agreement will be treated as a separate payment. In no event may Executive, directly or indirectly, designate the calendar year of payment of any payment subject to Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. All reimbursements provided under this Agreement will be made or provided in accordance with the requirements of Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during Executive's lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement is not subject to liquidation or exchange for another benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Notwithstanding any provision of this Agreement to the contrary, if necessary to comply with the restriction in Section 409A(a)(2)(B) of the Code concerning payments to "specified employees" (as defined in Section 409A) any payment on account of Executive's separation from service that would otherwise be due hereunder within six (6) months after such separation will nonetheless be delayed until the first business day of the seventh month following Executive's date of termination and the first such payment will include the cumulative amount of any payments that would have been paid prior to such date if not for such restriction, together with interest on such cumulative amount during the period of such restriction at a rate, per annum, equal to the applicable federal short-term rate (compounded monthly) in effect under Section 1274(d) of the Code on the Employment Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. In no event shall the Company be required to pay Executive any "gross-up" or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit paid to Executive hereunder. The Company agrees to take any reasonable steps requested by Executive to avoid adverse tax consequences to Executive as a result of any benefit to Executive hereunder being subject to Section 409A, provided that Executive shall, if requested, reimburse the Company for any incremental costs (other than incidental costs) associated with taking such steps. All payments to be made upon a termination of employment under this Agreement may only be made upon a "separation from service" under Section 409A. The parties agree that the Employment Termination Date shall constitute a "separation from service" under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. Notices. All notices and other communications under this Agreement shall be in writing and shall be given by first-class mail, certified or registered with return receipt requested, or by hand delivery, or by overnight delivery by a nationally recognized carrier, in each case to the applicable address set forth below, and any such notice is deemed effectively given when received by the recipient (or if receipt is refused by the recipient, when so refused):

---

| | | |
|:---|:---|:---|
| If to the Company: | IAC Inc. | IAC Inc. |
|  | 555 West 18th Street, 6th Floor | 555 West 18th Street, 6th Floor |
|  | New York, NY 10011 | New York, NY 10011 |
|  | Attention: | Generalcounsel@iac.com |
| If to Executive: | At the most recent address for Executive on file at the Company, with a copy to: | At the most recent address for Executive on file at the Company, with a copy to: |
|  | Katzke Miller & Morgenbesser | Katzke Miller & Morgenbesser |
|  | katzke@kmexeccomp.com | katzke@kmexeccomp.com |
|  | Attention: | Michael S. Katzke |

---

Either party may change such party's address for notices by notice duly given pursuant hereto.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

---

| | |
|:---|:---|
| IAC INC. | IAC INC. |
| By: | /s/ Barry Diller |
| Name: | Barry Diller |
| Title: | Chairman and Senior Executive |
| /s/ Chris Halpin | /s/ Chris Halpin |
| Chris Halpin | Chris Halpin |

---

[Signature Page to Employment Transition Agreement]

EXHIBIT A

Supplemental Executive Release of Company

DATE

Chris Halpin

IAC Inc.

555 West 18th Street, 6th Floor

New York, NY 10011

Dear Chris:

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, IAC Inc. (the "**Company**") and you hereby agree to the severance of your employment with the Company upon the following terms and conditions of this agreement (this "**Agreement**"). Capitalized terms used in this Agreement that are not defined shall have the meanings ascribed to such terms in the Employment Transition Agreement, by and between you and the Company, dated [_], 2026 ("**ETA**").

1. Effective as of DATE (the "**End Date**"), you hereby terminate your position as Chief Operating Officer and Chief Financial Officer and any and all other positions you occupy as an officer, director, or employee of the Company or any subsidiary or affiliate of the Company, and each such employment relationship between the Company or any subsidiary or affiliate of the Company and you is hereby terminated in all respects. The End Date shall be the date of termination of your employment for purposes of participation in and coverage under all benefit plans and programs sponsored by or through the Company, except as otherwise provided herein or under the terms of the benefit plans, or as required by law.

2. (a) In exchange for the general release in paragraph 8 below and other promises contained herein, you are entitled to the rights and benefits set forth in Section [5(a)][5(b)] of the ETA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) You hereby agree and acknowledge that the payments and/or benefits provided in paragraph 2(a) exceed any payments, benefits, or other things of value to which you might otherwise be entitled under any policy, plan, or procedure of the Company or any of its subsidiaries or affiliates or pursuant to any prior agreement or contract with the Company or any of its subsidiaries or affiliates.

3. As of the End Date, you are entitled to your vested account balance, if any, in the Company's Retirement Savings Plan, subject to the terms and conditions of such plan. The Company will provide you with a summary of the procedures for all such benefits to be transferred, if you so choose, to a new or existing individual retirement account established by you. You are also entitled to your vested account balance, if any, in the Company's Executive Deferred Compensation Plan, subject to the terms and conditions of such plan.

4. Your short-term and long-term disability insurance coverage provided by the Company ends on the End Date. Long-term disability insurance, to the extent you currently participate in that plan, may be converted to an individual plan (and information about that option will be forwarded to you under separate cover).

5. Your coverage under the Company's Health and Welfare Benefits Plan, to the extent you currently participate in that plan, will end on the last day of the calendar month of the End Date, *i.e.*, END DATE. If you wish to continue your participation and that of your eligible dependents in the Company's group health, dental, vision, and/or flexible spending account plans after the coverage ends, you may do so under applicable federal law (i.e., "COBRA") by calling COBRA Services at 866-365-2413. All Group Life and Accidental Death and Dismemberment Insurance, to the extent you currently participate in those plans, may be converted to individual plans (and information about those options will be forwarded to you under separate cover).

6. To the extent provided therein, your obligations under any company policy to which you were subject during your employment and which survive termination of your employment shall survive the severance of your employment provided for herein.

7. During your employment at the Company and/or any of its subsidiaries or affiliates, you may have been granted stock options and/or restricted stock units and/or restricted stock by the Company or such subsidiary or affiliate. All terms and conditions of each applicable stock option agreement or restricted stock unit agreement or restricted stock agreement, and the terms and conditions of the applicable plan corresponding thereto (collectively, as amended by the ETA, the "**Equity Agreements**"), including the forfeiture provisions thereof, shall remain unchanged and in full force and effect.

8. (a) For and in consideration of the payments provided for and promises made by the Company herein and other good and valuable consideration, you and your heirs, executors, administrators, trustees, legal representatives, and assigns (collectively, the "**Releasors**") hereby waive, release, and forever discharge the Company and its subsidiaries and affiliates, and its and their respective divisions, branches, predecessors, successors, assigns, and past or present directors, officers, employees, agents, partners, members, stockholders, representatives, attorneys, consultants, independent contractors, trustees, administrators, insurers, and fiduciaries, in their individual and representative capacities (collectively, the "**Company Releasees**"), of and from any and all actions, causes of action, complaints, charges, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands (including attorneys' fees, costs, and disbursements actually incurred), whether known or unknown, at law or in equity, suspected or unsuspected, of every kind and nature whatsoever, in each case, related to your employment with or severance from the Company, including without limitation with respect to wrongful or tortious termination, constructive discharge, breach of implied or express employment contracts and/or estoppel, discrimination and/or retaliation, libel, slander, non-payment of wages or other compensation, including grants of stock options or any other equity compensation, in each case under any federal, state, or local laws, statutes, rules, or regulations of any type or description, including without limitation under Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Age Discrimination in Employment Act; the Rehabilitation Act; the National Labor Relations Act; the Fair Labor Standards Act; the Americans With Disabilities Act; the Family Medical Leave Act; the Employee Retirement Income Security Act; the Reconstruction Era Civil Rights Act; the New York State Executive Law; and the New York City Human Rights Law, each as amended, and any other claim of discrimination, harassment, or retaliation in employment (whether based on federal, state, or local law, statutory or decisional), which the Releasors or any of them ever had, now have, or hereafter shall or may have against the Company Releasees or any of them for, upon, or by reason of any matter, cause, or thing whatsoever from the beginning of the world to the date that you sign this Agreement. Without limiting the generality of the foregoing, except as expressly set forth in this Agreement, the Releasors expressly waive any right or claim for reinstatement of employment, back pay, interest, bonuses, damages, accrued vacation, accrued sick leave, medical, dental, optical, or hospitalization benefits, accidental death and dismemberment coverage, long-term disability coverage, stock or other interests in the Company or any subsidiary or affiliate thereof, life insurance benefits, overtime, severance pay, and/or attorneys' fees or costs with respect to or derivative of such employment with the Company or the severance thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) You acknowledge and agree that by virtue of the foregoing, you have waived any relief available to you (including without limitation monetary damages, equitable relief, and reinstatement) under any of the claims and/or causes of action waived in paragraph 8. You therefore agree that you will not seek or accept any award of damages or settlement relating to any purported damages from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this Agreement. Notwithstanding anything to the contrary set forth in this paragraph 8, you do not release, waive, or discharge the Company from (i) any claims to seek to enforce this Agreement (ii) any claims for indemnification, advancement of expenses or contribution with respect to any liability incurred by you as a director or officer of the Company or (iii) any rights as a stockholder or with respect to vested equity awards in respect of Company common stock (including without limitation any equity awards which become vested pursuant to this Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For the purpose of implementing a full and complete release and discharge of the Company Releasees, you acknowledge that this Agreement is intended to include in its effect, without limitation, all claims or other matters described in this paragraph 8 that neither party knows or suspects to exist in your favor at the time of execution hereof, and that this Agreement contemplates the extinguishment of any and all such claims or other such matters. The Company Releasees who are not a party to this Agreement are third-party beneficiaries of this Agreement and are entitled to enforce its provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This release contained in this paragraph 8 specifically excludes (i) any claims arising with respect to events occurring after the Effective Date of this Agreement, (ii) your rights and the Company's obligations under the ETA, (iii) the right to indemnification and/or advancement you have or may have under the ETA, the by-laws and/or certificate of incorporation of the Company or any of its subsidiaries or affiliates or as an insured under any director's and officer's liability insurance policy now or previously in force and (iv) any rights with respect to vested equity awards in respect of Company common stock (including without limitation any equity awards which become vested pursuant to this Agreement) or as a stockholder. Nothing contained in this Release shall release you from your obligations, including any obligations to abide by the Executive Covenants, under the ETA that continue or are to be performed following termination of employment.

9. Except for items to be retained during the Consulting Period as determined by the Company, you represent that you do not have in your possession or custody, and have not failed to return to the Company, all property belonging to the Company (other than de minimis items), including but not limited to laptop computers, iPads, cell phone, keys, access cards for buildings and office floors, and confidential business information and documents. Additionally, the Company acknowledges and agrees that you will be permitted to retain your contacts, calendars, personal correspondence and any information or documents necessary for the preparation of your tax returns.

10. This Agreement and all matters or issues related hereto shall be governed by the laws of the State of New York applicable to contracts entered into and performed therein (without reference to its principles of conflicts of laws). The Company and you hereby submit to the jurisdiction of all state courts in the State of New York sitting in New York County, and of the United States District Court for the Southern District of New York, for the purposes of the enforcement of this Agreement. The parties acknowledge that such courts have jurisdiction to interpret and enforce the provisions of this Agreement, and the parties consent to, and waive any and all objections that they may have as to, personal jurisdiction and/or venue in such courts.

11. (a) This Agreement is binding upon, and shall inure to the benefit of, the parties and their respective heirs, executors, administrators, successors, and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement is not intended, and shall not be construed, as an admission that any of the Company Releasees has violated any federal, state, or local law (statutory or decisional), ordinance, or regulation, breached any contract, or committed any wrong whatsoever against you or anyone else.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except for the ETA and the Equity Agreements, if any, this Agreement contains the entire understanding of the parties hereto relating to the subject matter of this Agreement and supersedes any and all prior agreements or understandings between the parties hereto with respect thereto, and can be changed only by a writing signed by all parties hereto. No waiver shall be effective against any party unless in writing and signed by the party against whom such waiver shall be enforced.

12. All notices and other communications hereunder shall be deemed to be sufficient if in writing and delivered in person or by a nationally recognized courier service, addressed, if to you, to the address set forth above; and if to the Company, to:

---

| |
|:---|
| IAC Inc. |
| 555 West 18th Street |
| New York, NY 10011 |
| Attention: Generalcounsel@iac.com |

---

or to such other address as you or the Company may have furnished to the other party in writing. Each notice delivered in person or by overnight courier shall be deemed given when delivered or when delivery is attempted and refused.

13. In case any provision contained in this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect by any court or administrative body with competent jurisdiction, such invalidity, illegality, or unenforceability shall not affect the remaining provisions hereof, which shall remain in full force and effect. Any provision so determined to be invalid, illegal, or unenforceable shall be reformed so that it is valid, legal, and enforceable to the fullest extent permitted by law; or, if such reformation is impossible, then this Agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein; *provided* that, upon any finding by a court of competent jurisdiction that this Agreement is illegal and/or unenforceable, you hereby agree to execute and deliver an agreement in substantially the same form as this Agreement, modified to the extent necessary so as to constitute a legal and enforceable agreement. Additionally, you agree that any breach by you of paragraphs 8, and/or 9 shall constitute a material breach of this Agreement as to which the applicable Company Releasees may seek all relief available under the law other than a breach that is inadvertent and insubstantial that is remedied promptly and not repeated.

14. This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement.

15. You acknowledge and agree that, in deciding whether to execute this Agreement, you have read this Agreement and have had at least twenty-one (21) days to consider its terms and effects and to ask any questions that you may have of anyone, and that you have executed this Agreement voluntarily and with full understanding of its terms and its effects on you, and that no fact, evidence, event, or transaction currently unknown to you but which may later become known to you will affect in any way or manner the final and unconditional nature of this Agreement. You further acknowledge that: (a) the release provided for herein is granted in exchange for the receipt of consideration that exceeds the amount to which you would otherwise be entitled upon termination of your employment; (b) the waiver of rights under this Agreement is knowing and voluntary as required under the Older Workers Benefit Protection Act; (c) you are hereby advised by the Company in writing to consult with an attorney, tax, and/or financial advisor of your choice before signing this Agreement, and that the Company has not provided to you any legal, tax, or financial advice in connection with the same; and (d) you have had answered to your satisfaction any questions you have asked with regard to the meaning and significance of any terms or provisions of this Agreement. After signing this Agreement, you shall have seven (7) days (the "**Revocation Period**") to revoke your decision by delivering to the Company at the above address a notarized written notice of your desire to revoke the Agreement by no later than the last day of the Revocation Period. This Agreement shall become effective automatically upon the expiration of the Revocation Period if you do not revoke it in the aforesaid manner (the "**Effective Date**"). If the last day of the Revocation Period falls on a Saturday, Sunday, or legal holiday, the last day of the Revocation Period will be deemed to be the next business day. In the event that you do not accept this Agreement as set forth above, or in the event that you revoke this Agreement in the manner set forth above, the obligation of the Company to provide the payments and/or benefits described in paragraph 2(a) of this Agreement shall immediately become null and void. Notwithstanding the foregoing, this Agreement shall not be effective unless and until the Company executes the Supplemental Company Release (in the form attached as Exhibit B to the ETA). However, for the avoidance of doubt, the execution or non-execution of the Supplemental Company Release shall not affect whether or not the Supplemental Release Conditions have been satisfied.

BY SIGNING THIS AGREEMENT, YOU STATE THAT:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) YOU HAVE READ THIS AGREEMENT AND HAVE HAD SUFFICIENT TIME TO CONSIDER ITS TERMS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) YOU UNDERSTAND ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT AND KNOW THAT YOU ARE GIVING UP IMPORTANT RIGHTS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) YOU AGREE WITH EVERYTHING IN THIS AGREEMENT;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) YOU ARE AWARE OF YOUR RIGHT TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS AGREEMENT, HAVE BEEN ADVISED OF SUCH RIGHT, AND HAD SUFFICIENT TIME TO CONSULT WITH AN ATTORNEY;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) YOU HAVE SIGNED THIS AGREEMENT KNOWINGLY AND VOLUNTARILY; AND

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (f) THIS AGREEMENT INCLUDES A RELEASE BY YOU OF ALL KNOWN AND UNKNOWN CLAIMS AS DESCRIBED IN THIS AGREEMENT.

If the foregoing correctly sets forth our mutual understanding, please sign on the next page and have notarized one copy of this Agreement and return it to the undersigned after the End Date, whereupon this letter shall constitute a binding agreement between us.

Sincerely,

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| |
|:---|
| IAC Inc. |
| By: |
| SIGNER |
| SIGNER TITLE, IAC |

---

I, NAME, acknowledge that I have been given at least twenty-one (21) days from the date of this Agreement to consider the terms contained herein and that I have seven (7) days after signing this Agreement in which to rescind my acceptance hereof. I also acknowledge that I have been advised to consult with a lawyer prior to signing this Agreement. I knowingly and voluntarily agree to and accept the terms outlined in this Agreement without reservation and fully understand all of its terms.

---

| |
|:---|
| ACCEPTED AND AGREED: |
| Chris Halpin |
| Date: |

---

On this ____ day of ____2026, before me personally came NAME to me known and known to me to be the person described in and who executed this Agreement, and she duly acknowledged to me that she executed the same.

  <br>Notary Public

EXHIBIT B

Supplemental Company Release of Executive

FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby acknowledged, and as required by the Employment Transition Agreement (the "**Agreement**"), by and among Chris Halpin ("**Executive**") and IAC Inc. (the "**Company**") on its behalf, and on behalf of its predecessors, affiliates and successors, and each of its past, present and future officers, directors, employees, representatives, attorneys, insurers, agents and assigns, individually and in their official capacities (collectively the "**Company Releasors**"), hereby waives, releases and forever discharges Executive and Executive's heirs, executors, administrators, trustees, legal representatives, and assigns (collectively, the "**Executive Releasees**") from any and all actions, causes of action, complaints, charges, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands (including attorneys' fees, costs, and disbursements actually incurred), whether known or unknown, at law or in equity, suspected or unsuspected, of every kind and nature whatsoever, in any way resulting from, arising out of or connected with Executive's employment by the Company or any of its subsidiaries or other affiliates or pursuant to any federal, state or local law, regulation or other requirements, including, without limitation, those arising under common law, which the Company Releasors or any of them ever had, now have, or hereafter shall or may have against the Executive Releasees or any of them for, upon, or by reason of any matter, cause, or thing whatsoever from the beginning of the world to the date that the Company signs this release of claims. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Agreement.

The Company acknowledges and agrees that by virtue of the foregoing, the Company has waived any relief available to the Company (including without limitation monetary damages, equitable relief, and reinstatement) under any of the claims and/or causes of action waived in this release. The Company therefore agrees that the Company will not seek or accept any award of damages or settlement relating to any purported damages from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this release. Notwithstanding anything to the contrary set forth in this release, the Company does not release, waive, or discharge Executive from any claims to seek to enforce this release.

For purposes of implementing a full and complete release and discharge of the Executive Releasees, except as set forth in the following paragraph, the Company acknowledges that this release is intended to include in its effect, without limitation, all claims or other matters described in this release that neither party knows or suspects to exist in the Company's favor at the time of execution hereof, and that this release contemplates the extinguishment of any and all such claims or other such matters. The Executive Releasees who are not a party to this release are third-party beneficiaries of this release and are entitled to enforce its provisions.

Excluded from the scope of this release is (a) any claim arising after the effective date of this release, (b) any claims that seek to enforce this release, (c) any claims relating to Executive's commission of fraud or criminal acts against Company or its affiliates or other substantial, willful and intentional misconduct related to Executive's employment with the Company or any of its affiliates and (d) any claim under the Company's compensation recovery policy as in effect on the date hereof or as subsequently modified to the extent required by applicable law.

Intending to be legally bound, the Company has signed this Release of Claims as of the date written below.

---

| | |
|:---|:---|
|  | IAC INC. |
| Date | Name: |
|  | Title: |
|  | Chris Halpin |

---

## Exhibit 10.2

**Exhibit 10.2**

<u>EMPLOYMENT TRANSITION AGREEMENT</u>

THIS EMPLOYMENT TRANSITION AGREEMENT (this "**Agreement**"), dated as of April 27, 2026, is by and between IAC Inc., a Delaware corporation (the "**Company**"), and Kendall Handler ("**Executive**").

WHEREAS, reference is made to the Employment Agreement, by and between Executive and the Company, effective January 1, 2021 ("**Employment Agreement**");

WHEREAS, Executive is currently employed as the Chief Legal Officer of the Company;

WHEREAS, the Company and Executive have mutually agreed that Executive will transition out of her role as Chief Legal Officer of the Company effective upon the filing of the Form 10-Q for the Company's second fiscal quarter of 2026 and, thereafter provide services to the Company as a consultant for a period ending no later than the date of the filing by the Company of the Form 10-K for the 2026 fiscal year; and

WHEREAS, the Company and Executive desire to set forth their respective rights and obligations regarding Executive's departure from the Company.

NOW, THEREFORE, in consideration of the covenants and conditions set forth herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Definitions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. **Accrued Obligations** means the sum of: (i) any portion of Executive's accrued but unpaid Annual Base Salary through the date of death or termination of employment for any reason, as the case may be; and (ii) any reimbursements that Executive is entitled to receive under Section 3A(c)(i) of the Employment Agreement or Section 2(c)(ii) of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. **Cause** has the meaning set forth in the Employment Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. **Disability** has the meaning set forth in the Employment Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. **Employment Termination Date** means the first to occur of (i) the filing of the Form 10-Q for the Company's second fiscal quarter of 2026 and (ii) such earlier date on which Executive's employment with the Company is terminated for any other reason, which shall be the date of death in the case of Executive's death, the Disability Date (as defined below) in the case of Executive's termination due to Disability and in all other cases, the date set forth in a notice of termination or as otherwise agreed between the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. **Executive Covenants** means the covenants set forth in Section 2 (Confidential Information; Non-Competition, Non-Solicitation of Employees; Non-Solicitation of Business Partners; Proprietary Rights and Compliance with Policies and Procedures) of the Standard Terms and Conditions of the Employment Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. **Good Reason** has the meaning set forth in the Employment Agreement. Executive agrees that the entry into of this Agreement does not constitute or give rise to a claim of Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. **Qualifying Termination** means (i) a termination of Executive's employment with the Company by the Company without Cause, other than as a result of death or Disability, (ii) a termination of employment with the Company by Executive for Good Reason, or (iii) the automatic termination of Executive's employment with the Company upon the Employment Termination Date described in clause (i) of Employment Termination Date. A Qualifying Termination does not include a termination by Executive of her employment voluntarily without Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. **Transition Period** means the period commencing on the date of this Agreement and ending on the Employment Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Transition Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Termination of Employment Agreement.* Effective as of the date of this Agreement, except as provided in Sections 2(c)(ii) and 6 of this Agreement, the Employment Agreement is terminated; *provided, however*, this Agreement is not intended to extinguish the second paragraph of Section 8 and the first sentence of Section 9 of the Employment Agreement to the extent required to survive following the Employment Termination Date to carry out the intentions of the parties with respect to the Executive Covenants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Employment During Transition Period*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>Position, Initial Powers/Responsibilities and Performance</u>. During the Transition Period, the Company shall continue to employ Executive, and Executive shall be employed, as Chief Legal Officer of the Company. During Executive's employment with the Company, Executive shall use good faith efforts to do and perform all services and acts reasonably necessary or advisable to fulfill the duties and responsibilities of Executive's position and to render such services in accordance with the generally applicable policies of the Company as in effect from time to time and otherwise on the terms set forth herein. For the avoidance of doubt, nothing in this Agreement requires Executive to perform duties inconsistent with her position.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. <u>Reporting</u>. During the Transition Period, Executive shall report solely and directly (A) to the Chairman and Senior Executive of the Company so long as Barry Diller holds such position, and (B) if Mr. Diller ceases to serve as Chairman and Senior Executive of the Company, to the Board, unless the Company appoints an officer to serve as Chief Executive Officer of the Company, then to such officer (clauses (A) and (B) hereinafter referred to as the "**Reporting Authority**"). Executive agrees that any change in reporting authority as described in the proceeding sentence does not constitute or give rise to a claim of Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. <u>Full Time Service and Other Activities</u>. Executive agrees to devote all of Executive's working time, attention and efforts to the Company and to perform the duties of Executive's position in accordance with the Company's policies as in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. <u>Location</u>. Executive's principal place of employment shall be at the Company's offices located in New York, New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. *Compensation During Transition Period*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>Base Salary</u>. During the Transition Period, the Company shall continue to pay Executive an annual base salary of $500,000 (the "**Annual Base Salary**"), payable in equal biweekly installments (or, if different, in accordance with the Company's payroll practice as in effect from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. <u>Benefits</u>. Section 3A(c) of the Employment Agreement will remain in effect during the Transition Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Employment Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Disability*. If the Company determines in good faith that the Disability of Executive has occurred during the Transition Period (pursuant to the definition of Disability), it may give to Executive written notice in accordance with Section 18 of its intention to terminate Executive's employment. In such event, Executive's employment with the Company shall terminate effective on the 30th day after receipt of such notice by Executive if Executive does not return to full-time performance of Executive's duties within such 30-day period (the "**Disability Date**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Automatic Resignation*. Effective as of the Employment Termination Date, Executive's employment with the Company shall terminate, and Executive agrees that the occurrence of the Employment Termination Date shall constitute her automatic resignation from her position as Chief Legal Officer of the Company and from any and all other positions held by Executive with the Company and its subsidiaries and other affiliated entities. Executive agrees to execute any such additional documentation as may be reasonably required to effectuate the resignations detailed in the immediately preceding sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Post-Separation Consulting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Consulting Period.* Following the Employment Termination Date (other than a termination due to Executive's death or Disability), Executive shall provide the consulting services contemplated by this Section 4 commencing on the Employment Termination Date and ending on the first to occur of (i) the filing of the Form 10-K for the Company's fiscal year 2026 and (ii) such earlier date as determined by the Company (such period, the "**Consulting Period**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Consulting Services*. During the Consulting Period, Executive shall provide consulting services to the Reporting Authority relating to the strategy of the Company and such other related matters, and involving such commitments of time (subject to Executive's other commitments), as Executive and the Reporting Authority from time to time mutually agree. Services will be performed remotely (virtually) unless Executive and the Reporting Authority otherwise mutually agree. Executive shall be indemnified by the Company for her services rendered during the Consulting Period (and legal fees and expenses advanced and kept current) on the same basis as if she were then a senior executive officer of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. *Other Employment.* The Company acknowledges that Executive is not prohibited by this Section 4 from obtaining employment with or otherwise providing services to another entity during the Consulting Period; <u>provided</u> that Executive shall remain subject to the Executive Covenants to the extent set forth in Section 6 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. *Independent Contractor Status.* Executive acknowledges and agrees that her services during the Consulting Period are to be rendered as an independent contractor and Executive shall not be considered an employee of the Company or any of its affiliates for tax purposes or for any other purposes whatsoever. Executive agrees that during the Consulting Period Executive will not be an agent of the Company or any of its affiliates, and that Executive will have no authority, implied or actual, to act on behalf of the Company or any of its affiliates or to enter into any agreement that would bind the Company or any of its affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Separation Benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Qualifying Termination.* If during or upon the end of the Transition Period, Executive's employment terminates and such termination constitutes a Qualifying Termination, subject to Executive's execution of the supplemental release in the form attached as <u>Exhibit A</u> to this Agreement (the "**Supplemental Executive Release**") within twenty-one (21) calendar days following the Employment Termination Date, and the non-revocation of the Supplemental Executive Release during the seven-day period following execution of the Supplemental Executive Release (together, the "**Supplemental Release Conditions**") (except with respect to the payment of Accrued Obligations), and in consideration for Executive's compliance with the Executive Covenants, service through the Transition Period, and provision of services during the Consulting Period pursuant to the terms of Section 4, the Company shall pay or provide to Executive, as applicable, after the effective date of the Supplemental Executive Release, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. an amount equal to the Annual Base Salary that would be paid for twelve (12) months from the date of such termination with such amount to be paid in equal biweekly installments (or, if different, in accordance with the Company's payroll practice as in effect from time to time) over the course of a period of twelve (12) months beginning in the second month following the month in which the Employment Termination Date occurs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. any Accrued Obligations in a lump sum cash payment within thirty (30) days of the Employment Termination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. (A) full vesting as of the Employment Termination Date of all compensation awards held by Executive based on, or in the form of, Company equity (e.g., restricted stock, restricted stock units, stock options or similar instruments) that are outstanding and unvested at the time of the Employment Termination Date; and (B) the right to exercise any then vested stock options held by Executive (including stock options vesting as a result of (A) above) to purchase Company equity, which shall remain exercisable through the scheduled expiration date of March 29, 2027 for such options (the "**Equity Award Treatment**"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. a discretionary annual bonus (the "**Discretionary Annual Bonus**") in respect of the full calendar year 2026 (regardless of when the Employment Termination Date occurs) with the amount of any such bonus to be determined by the Compensation and Human Resources Committee of the Board in its sole discretion, consistent with past practice, based on factors it deems relevant, and paid at such time as annual bonuses are paid to other executive officers of the Company, but no later than March 15, 2027.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Termination Due to Death or Disability*. If during the Transition Period, Executive's employment is terminated by reason of Executive's death or by the Company due to Disability, the Company shall pay or provide to Executive or Executive's estate or beneficiary, as applicable, a lump sum cash payment equal to Executive's Annual Base Salary (to be paid in the second month following the month in which the Employment Termination Date occurs) (the "**Lump Sum Salary Payment**"), the Accrued Obligations, the Discretionary Annual Bonus and Equity Award Treatment (which Accrued Obligations, the Discretionary Annual Bonus and Equity Award Treatment shall be provided consistent with the timing applicable upon a Qualifying Termination), with all such payments and benefits to be subject to the effectiveness (and non-revocation) of a Supplemental Executive Release by Executive (or Executive's estate or legal representative, as applicable), to the extent that an effective Supplemental Executive Release is a condition to the payment of any such amounts or benefits under Section 5(a); provided, that, the Supplemental Executive Release may be executed within ninety (90) days following the Employment Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. *Termination by the Company with Cause; Resignation by Executive without Good Reason*. If, during the Transition Period, Executive's employment is terminated by the Company for Cause or by Executive without Good Reason, Executive will only be entitled to receive the Accrued Obligations (paid as set forth in Section 5(a)).

The payment to Executive of the separation benefits described in this Section 5 shall be subject to Executive's provision of the consulting services as contemplated by Section 4 of this Agreement and compliance with the Executive Covenants to the extent set forth in Section 6 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Executive Covenants. The Executive Covenants are incorporated by reference into this Agreement *mutandis mutatis* and shall remain in effect in accordance with their terms; <u>provided</u> that in the event that Executive's employment hereunder is terminated due to a Qualifying Termination then the restrictive covenant set forth in Section 2(b) (Non-Competition) of the Employment Agreement shall lapse on the date of such Qualifying Termination. Nothing in the Executive Covenants or this Agreement shall impair Executive's rights under the whistleblower provisions of any applicable federal law or regulation or limit Executive's right to receive an award for information provided to any government authority under such law or regulation. The Company shall provide Executive with written notice of any alleged violation of the Executive Covenants and not less than thirty (30) days to cure, if curable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Mutual Release.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Executive Release of Company*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. For and in consideration of the payments provided for and promises made by the Company herein and other good and valuable consideration, Executive and Executive's heirs, executors, administrators, trustees, legal representatives, and assigns (collectively, the "**Executive Releasors**") hereby waive, release, and forever discharge the Company and its subsidiaries and affiliates, and its and their respective divisions, branches, predecessors, successors, assigns, and past or present directors, officers, employees, agents, partners, members, stockholders, representatives, attorneys, consultants, independent contractors, trustees, administrators, insurers, and fiduciaries, in their individual and representative capacities (collectively, the "**Company Releasees**"), of and from any and all actions, causes of action, complaints, charges, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands (including attorneys' fees, costs, and disbursements actually incurred), whether known or unknown, at law or in equity, suspected or unsuspected, of every kind and nature whatsoever, in each case, related to Executive's employment with or severance from the Company, including without limitation with respect to wrongful or tortious termination, constructive discharge, breach of implied or express employment contracts and/or estoppel, discrimination and/or retaliation, libel, slander, non-payment of wages or other compensation, including grants of stock options or any other equity compensation, in each case under any federal, state, or local laws, statutes, rules, or regulations of any type or description, including without limitation under Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Age Discrimination in Employment Act; the Rehabilitation Act; the National Labor Relations Act; the Fair Labor Standards Act; the Americans With Disabilities Act; the Family Medical Leave Act; the Employee Retirement Income Security Act; the Reconstruction Era Civil Rights Act; the New York State Executive Law, and the New York City Human Rights Law, each as amended, and any other claim of discrimination, harassment, or retaliation in employment (whether based on federal, state, or local law, statutory or decisional), which the Executive Releasors or any of them ever had, now have, or hereafter shall or may have against the Company Releasees or any of them for, upon, or by reason of any matter, cause, or thing whatsoever from the beginning of the world to the date that Executive signs this Agreement. Without limiting the generality of the foregoing, except as expressly set forth in this Agreement, the Executive Releasors expressly waive any right or claim for reinstatement of employment, back pay, interest, bonuses, damages, accrued vacation, accrued sick leave, medical, dental, optical, or hospitalization benefits, accidental death and dismemberment coverage, long-term disability coverage, stock or other interests in the Company or any subsidiary or affiliate thereof, life insurance benefits, overtime, severance pay, and/or attorneys' fees or costs with respect to or derivative of such employment with the Company or the severance thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Executive acknowledges and agrees that by virtue of the foregoing, Executive has waived any relief available to Executive (including without limitation monetary damages, equitable relief, and reinstatement) under any of the claims and/or causes of action waived in this Section 7(a). Executive therefore agrees that Executive will not seek or accept any award of damages or settlement relating to any purported damages from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this Agreement. Notwithstanding anything to the contrary set forth in this Section 7(a), Executive does not release, waive, or discharge the Company from (i) any claims to seek to enforce this Agreement or (ii) any claims for indemnification, advancement of expenses or contribution with respect to any liability incurred by Executive as a director or officer of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. For the purpose of implementing a full and complete release and discharge of the Company Releasees, Executive acknowledges that this Agreement is intended to include in its effect, without limitation, all claims or other matters described in this Section 7(a) that neither party knows or suspects to exist in Executive's favor at the time of execution hereof, and that this Agreement contemplates the extinguishment of any and all such claims or other such matters. The Company Releasees who are not a party to this Agreement are third-party beneficiaries of this Agreement and are entitled to enforce its provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. This release contained in this Section 7(a) specifically excludes (i) any claims arising after the execution of this Agreement, (ii) Executive's rights and the Company's obligations under this Agreement, (iii) the right to indemnification and/or advancement Executive has or may have under this Agreement, the by-laws and/or certificate of incorporation of the Company or any of its subsidiaries or affiliates or as an insured under any director's and officer's liability insurance policy now or previously in force and (iv) Executive's rights as a stockholder and/or holder of any vested equity awards in respect of Company common stock (including without limitation any equity awards which become vested pursuant to this Agreement). Nothing contained in this Section 7(a) shall release Executive from Executive's obligations, including any obligations to abide by the Executive Covenants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. The Company hereby informs Executive that, notwithstanding any provision of this Agreement to the contrary, an individual may not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i) is made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law, or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. Further, an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the employer's trade secrets to the attorney and use the trade secret information in the court proceeding if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order. In addition, notwithstanding anything in this Agreement to the contrary, nothing in this Agreement shall impair Executive's rights under the whistleblower provisions of any applicable federal law or regulation or, for the avoidance of doubt, limit Executive's right to receive an award for information provided to any government authority under such law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *Company Release of Executive*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. For and in consideration of the promises made by Executive herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company, on its behalf, and on behalf of its predecessors, affiliates and successors, and each of its past, present and future officers, directors, employees, representatives, attorneys, insurers, agents and assigns, individually and in their official capacities (collectively the "**Company Releasors**"), hereby waives, releases and forever discharges Executive and Executive's heirs, executors, administrators, trustees, legal representatives, and assigns (collectively, the "**Executive Releasees**") from any and all actions, causes of action, complaints, charges, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands (including attorneys' fees, costs, and disbursements actually incurred), whether known or unknown, at law or in equity, suspected or unsuspected, of every kind and nature whatsoever, in any way resulting from, arising out of or connected with Executive's employment by the Company or any of its subsidiaries or other affiliates or pursuant to any federal, state or local law, regulation or other requirements, including, without limitation, those arising under common law, which the Company Releasors or any of them ever had, now have, or hereafter shall or may have against the Executive Releasees or any of them for, upon, or by reason of any matter, cause, or thing whatsoever from the beginning of the world to the date that the Company signs this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. The Company acknowledges and agrees that by virtue of the foregoing, the Company has waived any relief available to the Company (including without limitation monetary damages, equitable relief, and reinstatement) under any of the claims and/or causes of action waived in this Section 7(b). The Company therefore agrees that the Company will not seek or accept any award of damages or settlement relating to any purported damages from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this Agreement. Notwithstanding anything to the contrary set forth in this Section 7(b), the Company does not release, waive, or discharge Executive from any claims to seek to enforce this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. For the purpose of implementing a full and complete release and discharge of the Executive Releasees, except as provided in Section 7(b)(iv) of this Agreement, the Company acknowledges that this Agreement is intended to include in its effect, without limitation, all claims or other matters described in this Section 7(b) that neither party knows or suspects to exist in the Company's favor at the time of execution hereof, and that this Agreement contemplates the extinguishment of any and all such claims or other such matters. The Executive Releasees who are not a party to this Agreement are third-party beneficiaries of this Agreement and are entitled to enforce its provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Excluded from the scope of this release is (A) any claim arising after the effective date of this Agreement, (B) any claims that seek to enforce this Agreement, (C) any claims relating to Executive's commission of fraud or criminal acts against Company or its affiliates or other substantial, willful and intentional misconduct related to Executive's employment with the Company or any of its affiliates, and (D) any claim under the Company's compensation recovery policy as in effect on the date hereof or as subsequently modified to the extent required by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. The release of Executive contained in this Section 7(b) shall be void and of no effect if Executive revokes the release contained in Section 7(a) of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Full Settlement; No Obligation to Mitigate; Effect of Certain Terminations of Employment; Indemnification; Cooperation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. *Full Settlement*. Executive agrees that the payments and benefits contemplated by Section 5 of this Agreement shall be in full satisfaction of any rights and benefits due to Executive upon a Qualifying Termination, including, without limitation, any rights and benefits under the Employment Agreement. Executive acknowledges that the payments and benefits to which she becomes entitled pursuant to Section 5 of this Agreement shall not be considered in determining her benefits under any plan, agreement, policy or arrangement of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. *No Obligation to Mitigate*. In no event shall Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement, and such amounts shall not be reduced whether or not Executive obtains other employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. *Effect of Certain Terminations of Employment*. If Executive's employment with the Company is terminated other than as a result of a Qualifying Termination or under Section 5(b), Executive shall only be entitled to the Accrued Obligations, which shall be paid within thirty (30) days following the employment termination date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. *Indemnification*. The Company shall indemnify and hold Executive harmless for acts and omissions in Executive's capacity as an officer, director or employee of the Company to the maximum extent permitted under applicable law; <u>provided</u>, <u>however</u>, that neither the Company, nor any of its subsidiaries or affiliates shall indemnify Executive for any losses incurred by Executive as a result of acts described in the definition of Cause. The Company shall also advance, and keep current, Executive's legal fees and expenses in such matter(s), subject to an undertaking from Executive to repay such advances if it shall be finally determined by a judicial decision that Executive was not entitled to advancement or reimbursement of such fees and expenses. The Executive's termination of employment shall not impact the Executive's right to coverage under the Company's D&O insurance policies for any actions or inactions of Executive prior to the date of termination of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. *Cooperation*. Executive agrees to reasonably cooperate with the Company following the Employment Termination Date concerning business or legal matters about which Executive had knowledge during her employment. In scheduling matters related to such cooperation, the Company shall accommodate to the extent possible Executive's business and personal commitments. The Company will pay Executive her reasonable out-of-pocket expenses incurred in connection therewith in accordance with the Company's reimbursement policy for Executive Vice President level officers of the Company as in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Tax Withholding. All payments and benefits provided to Executive under this Agreement will be less any applicable withholdings for federal, state and local taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Entire Agreement. This Agreement, the Supplemental Executive Release and the Supplemental Company Release constitute the entire agreement between the parties with respect to the subject matter hereof, and supersede any and all prior agreements or understandings between the parties arising out of or relating to Executive's employment and the cessation thereof. Notwithstanding the foregoing, Executive acknowledges and agrees that compensation previously provided to Executive or provided to Executive under this Agreement shall be subject to the Company's compensation recovery policy as in effect on the date hereof or as subsequently modified to the extent required by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Governing Law; Jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The Executive Covenants and the legal relations thus created between the parties hereto (including, without limitation, any dispute arising out of or related to the Executive Covenants) shall be governed by and construed under and in accordance with the laws of the State of New York applicable to agreements made and to be performed entirely within such State.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Other than the Executive Covenants, this Agreement and the legal relations thus created between the parties hereto (including, without limitation, any dispute arising out of or related to this Agreement) shall be governed by and construed under and in accordance with the laws of the State of Delaware applicable to agreements made and to be performed entirely within such State.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. The Company may seek equitable relief in court as provided for in the Executive Covenants. Any dispute under this Agreement will be heard and determined before the Delaware Chancery Court located in Wilmington, Delaware, or, if not maintainable therein, then an appropriate federal court located in Wilmington, Delaware, and each party hereto submits itself and its property to the non-exclusive jurisdiction of the foregoing courts with respect to such disputes. Each party hereto (i) agrees that service of process may be made by mailing a copy of any relevant document to the address of the party set forth above, (ii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the courts referred to above on the grounds of inconvenient forum or otherwise as regards any dispute between the parties hereto arising out of or related to this Agreement, (iii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the laying of venue in the courts referred to above as regards any dispute between the parties hereto arising out of or related to this Agreement and (iv) agrees that a judgment or order of any court referred to above in connection with any dispute between the parties hereto arising out of or related to this Agreement is conclusive and binding on it and may be enforced against it in the courts of any other jurisdiction. Nothing herein shall prevent the Company from seeking equitable relief in court as provided for in the Executive Covenants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Severability of Provisions. Each of the sections contained in this Agreement shall be enforceable independently of every other section in this Agreement, and the invalidity or non-enforceability of any section shall not invalidate or render unenforceable any other section contained in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. This Agreement shall not be assignable by Executive. If Executive shall die before all the payments required by this Agreement to be made to Executive have been made, then all remaining payments shall be made to Executive's estate or such person or trust as Executive shall designate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Waivers. No failure on the part of either party to exercise, and no delay in exercising, any right or remedy under this Agreement shall operate as a waiver thereof; nor shall any single or partial exercise of any right or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right or remedy granted hereby or by any related document or by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Modification. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by both Executive and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall be one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. Section 409a.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. This Agreement is intended to comply with the requirements of Section 409A of the Code (including any amendments or successor provisions and any regulations and other administrative guidance thereunder, "**Section 409A**"). To the extent that any provision in this Agreement is ambiguous as to its compliance with Section 409A or to the extent any provision in this Agreement must be modified to comply with Section 409A (including, without limitation, Treasury Regulation 1.409A-3(c)), such provision will be read, or will be modified (with the mutual consent of the parties, which consent will not be unreasonably withheld), as the case may be, in such a manner so that all payments due under this Agreement will comply with Section 409A, while endeavoring to maintain the economic intent of this Agreement. For purposes of Section 409A, each payment made under this Agreement will be treated as a separate payment. In no event may Executive, directly or indirectly, designate the calendar year of payment of any payment subject to Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. All reimbursements provided under this Agreement will be made or provided in accordance with the requirements of Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during Executive's lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement is not subject to liquidation or exchange for another benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Notwithstanding any provision of this Agreement to the contrary, if necessary to comply with the restriction in Section 409A(a)(2)(B) of the Code concerning payments to "specified employees" (as defined in Section 409A) any payment on account of Executive's separation from service that would otherwise be due hereunder within six (6) months after such separation will nonetheless be delayed until the first business day of the seventh month following Executive's date of termination and the first such payment will include the cumulative amount of any payments that would have been paid prior to such date if not for such restriction, together with interest on such cumulative amount during the period of such restriction at a rate, per annum, equal to the applicable federal short-term rate (compounded monthly) in effect under Section 1274(d) of the Code on the Employment Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. In no event shall the Company be required to pay Executive any "gross-up" or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit paid to Executive hereunder. The Company agrees to take any reasonable steps requested by Executive to avoid adverse tax consequences to Executive as a result of any benefit to Executive hereunder being subject to Section 409A, provided that Executive shall, if requested, reimburse the Company for any incremental costs (other than incidental costs) associated with taking such steps. All payments to be made upon a termination of employment under this Agreement may only be made upon a "separation from service" under Section 409A. The parties agree that the Employment Termination Date shall constitute a "separation from service" under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. Notices. All notices and other communications under this Agreement shall be in writing and shall be given by first-class mail, certified or registered with return receipt requested, or by hand delivery, or by overnight delivery by a nationally recognized carrier, in each case to the applicable address set forth below, and any such notice is deemed effectively given when received by the recipient (or if receipt is refused by the recipient, when so refused):

---

| | | |
|:---|:---|:---|
| If to the Company: | IAC Inc. | IAC Inc. |
|  | 555 West 18th Street, 6th Floor | 555 West 18th Street, 6th Floor |
|  | New York, NY 10011 | New York, NY 10011 |
|  | Attention: | Generalcounsel@iac.com |
| If to Executive: | At the most recent address for Executive on file at the Company, with a copy to: | At the most recent address for Executive on file at the Company, with a copy to: |
|  | Katzke Miller & Morgenbesser | Katzke Miller & Morgenbesser |
|  | katzke@kmexeccomp.com | katzke@kmexeccomp.com |
|  | Attention: | Michael S. Katzke |

---

Either party may change such party's address for notices by notice duly given pursuant hereto.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

---

| | |
|:---|:---|
| IAC INC. | IAC INC. |
| By: | /s/ Barry Diller |
| Name: | Barry Diller |
| Title: | Chairman and Senior Executive |
| /s/ Kendall Handler | /s/ Kendall Handler |
| Kendall Handler | Kendall Handler |

---

[Signature Page to Employment Transition Agreement]

EXHIBIT A

Supplemental Executive Release of Company

DATE

Kendall Handler

IAC Inc.

555 West 18th Street, 6th Floor

New York, NY 10011

Dear Kendall:

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, IAC Inc. (the "**Company**") and you hereby agree to the severance of your employment with the Company upon the following terms and conditions of this agreement (this "**Agreement**"). Capitalized terms used in this Agreement that are not defined shall have the meanings ascribed to such terms in the Employment Transition Agreement, by and between you and the Company, dated [_], 2026 ("**ETA**").

1. Effective as of DATE (the "**End Date**"), you hereby terminate your position as Chief Legal Officer and any and all other positions you occupy as an officer, director, or employee of the Company or any subsidiary or affiliate of the Company, and each such employment relationship between the Company or any subsidiary or affiliate of the Company and you is hereby terminated in all respects. The End Date shall be the date of termination of your employment for purposes of participation in and coverage under all benefit plans and programs sponsored by or through the Company, except as otherwise provided herein or under the terms of the benefit plans, or as required by law.

2. (a) In exchange for the general release in paragraph 8 below and other promises contained herein, you are entitled to the rights and benefits set forth in Section [5(a)][5(b)] of the ETA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) You hereby agree and acknowledge that the payments and/or benefits provided in paragraph 2(a) exceed any payments, benefits, or other things of value to which you might otherwise be entitled under any policy, plan, or procedure of the Company or any of its subsidiaries or affiliates or pursuant to any prior agreement or contract with the Company or any of its subsidiaries or affiliates.

3. As of the End Date, you are entitled to your vested account balance, if any, in the Company's Retirement Savings Plan, subject to the terms and conditions of such plan. The Company will provide you with a summary of the procedures for all such benefits to be transferred, if you so choose, to a new or existing individual retirement account established by you. You are also entitled to your vested account balance, if any, in the Company's Executive Deferred Compensation Plan, subject to the terms and conditions of such plan.

4. Your short-term and long-term disability insurance coverage provided by the Company ends on the End Date. Long-term disability insurance, to the extent you currently participate in that plan, may be converted to an individual plan (and information about that option will be forwarded to you under separate cover).

5. Your coverage under the Company's Health and Welfare Benefits Plan, to the extent you currently participate in that plan, will end on the last day of the calendar month of the End Date, *i.e.*, END DATE. If you wish to continue your participation and that of your eligible dependents in the Company's group health, dental, vision, and/or flexible spending account plans after the coverage ends, you may do so under applicable federal law (i.e., "COBRA") by calling COBRA Services at 866-365-2413. All Group Life and Accidental Death and Dismemberment Insurance, to the extent you currently participate in those plans, may be converted to individual plans (and information about those options will be forwarded to you under separate cover).

6. To the extent provided therein, your obligations under any company policy to which you were subject during your employment and which survive termination of your employment shall survive the severance of your employment provided for herein.

7. During your employment at the Company and/or any of its subsidiaries or affiliates, you may have been granted stock options and/or restricted stock units and/or restricted stock by the Company or such subsidiary or affiliate. All terms and conditions of each applicable stock option agreement or restricted stock unit agreement or restricted stock agreement, and the terms and conditions of the applicable plan corresponding thereto (collectively, as amended by the ETA, the "**Equity Agreements**"), including the forfeiture provisions thereof, shall remain unchanged and in full force and effect.

8. (a) For and in consideration of the payments provided for and promises made by the Company herein and other good and valuable consideration, you and your heirs, executors, administrators, trustees, legal representatives, and assigns (collectively, the "**Releasors**") hereby waive, release, and forever discharge the Company and its subsidiaries and affiliates, and its and their respective divisions, branches, predecessors, successors, assigns, and past or present directors, officers, employees, agents, partners, members, stockholders, representatives, attorneys, consultants, independent contractors, trustees, administrators, insurers, and fiduciaries, in their individual and representative capacities (collectively, the "**Company Releasees**"), of and from any and all actions, causes of action, complaints, charges, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands (including attorneys' fees, costs, and disbursements actually incurred), whether known or unknown, at law or in equity, suspected or unsuspected, of every kind and nature whatsoever, in each case, related to your employment with or severance from the Company, including without limitation with respect to wrongful or tortious termination, constructive discharge, breach of implied or express employment contracts and/or estoppel, discrimination and/or retaliation, libel, slander, non-payment of wages or other compensation, including grants of stock options or any other equity compensation, in each case under any federal, state, or local laws, statutes, rules, or regulations of any type or description, including without limitation under Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Age Discrimination in Employment Act; the Rehabilitation Act; the National Labor Relations Act; the Fair Labor Standards Act; the Americans With Disabilities Act; the Family Medical Leave Act; the Employee Retirement Income Security Act; the Reconstruction Era Civil Rights Act; the New York State Executive Law; and the New York City Human Rights Law, each as amended, and any other claim of discrimination, harassment, or retaliation in employment (whether based on federal, state, or local law, statutory or decisional), which the Releasors or any of them ever had, now have, or hereafter shall or may have against the Company Releasees or any of them for, upon, or by reason of any matter, cause, or thing whatsoever from the beginning of the world to the date that you sign this Agreement. Without limiting the generality of the foregoing, except as expressly set forth in this Agreement, the Releasors expressly waive any right or claim for reinstatement of employment, back pay, interest, bonuses, damages, accrued vacation, accrued sick leave, medical, dental, optical, or hospitalization benefits, accidental death and dismemberment coverage, long-term disability coverage, stock or other interests in the Company or any subsidiary or affiliate thereof, life insurance benefits, overtime, severance pay, and/or attorneys' fees or costs with respect to or derivative of such employment with the Company or the severance thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) You acknowledge and agree that by virtue of the foregoing, you have waived any relief available to you (including without limitation monetary damages, equitable relief, and reinstatement) under any of the claims and/or causes of action waived in paragraph 8. You therefore agree that you will not seek or accept any award of damages or settlement relating to any purported damages from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this Agreement. Notwithstanding anything to the contrary set forth in this paragraph 8, you do not release, waive, or discharge the Company from (i) any claims to seek to enforce this Agreement (ii) any claims for indemnification, advancement of expenses or contribution with respect to any liability incurred by you as a director or officer of the Company or (iii) any rights as a stockholder or with respect to vested equity awards in respect of Company common stock (including without limitation any equity awards which become vested pursuant to this Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For the purpose of implementing a full and complete release and discharge of the Company Releasees, you acknowledge that this Agreement is intended to include in its effect, without limitation, all claims or other matters described in this paragraph 8 that neither party knows or suspects to exist in your favor at the time of execution hereof, and that this Agreement contemplates the extinguishment of any and all such claims or other such matters. The Company Releasees who are not a party to this Agreement are third-party beneficiaries of this Agreement and are entitled to enforce its provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This release contained in this paragraph 8 specifically excludes (i) any claims arising with respect to events occurring after the Effective Date of this Agreement, (ii) your rights and the Company's obligations under the ETA, (iii) the right to indemnification and/or advancement you have or may have under the ETA, the by-laws and/or certificate of incorporation of the Company or any of its subsidiaries or affiliates or as an insured under any director's and officer's liability insurance policy now or previously in force and (iv) any rights with respect to vested equity awards in respect of Company common stock (including without limitation any equity awards which become vested pursuant to this Agreement) or as a stockholder. Nothing contained in this Release shall release you from your obligations, including any obligations to abide by the Executive Covenants, under the ETA that continue or are to be performed following termination of employment.

9. Except for items to be retained during the Consulting Period as determined by the Company, you represent that you do not have in your possession or custody, and have not failed to return to the Company, all property belonging to the Company (other than de minimis items), including but not limited to laptop computers, iPads, cell phone, keys, access cards for buildings and office floors, and confidential business information and documents. Additionally, the Company acknowledges and agrees that you will be permitted to retain your contacts, calendars, personal correspondence and any information or documents necessary for the preparation of your tax returns.

10. This Agreement and all matters or issues related hereto shall be governed by the laws of the State of New York applicable to contracts entered into and performed therein (without reference to its principles of conflicts of laws). The Company and you hereby submit to the jurisdiction of all state courts in the State of New York sitting in New York County, and of the United States District Court for the Southern District of New York, for the purposes of the enforcement of this Agreement. The parties acknowledge that such courts have jurisdiction to interpret and enforce the provisions of this Agreement, and the parties consent to, and waive any and all objections that they may have as to, personal jurisdiction and/or venue in such courts.

11. (a) This Agreement is binding upon, and shall inure to the benefit of, the parties and their respective heirs, executors, administrators, successors, and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement is not intended, and shall not be construed, as an admission that any of the Company Releasees has violated any federal, state, or local law (statutory or decisional), ordinance, or regulation, breached any contract, or committed any wrong whatsoever against you or anyone else.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except for the ETA and the Equity Agreements, if any, this Agreement contains the entire understanding of the parties hereto relating to the subject matter of this Agreement and supersedes any and all prior agreements or understandings between the parties hereto with respect thereto, and can be changed only by a writing signed by all parties hereto. No waiver shall be effective against any party unless in writing and signed by the party against whom such waiver shall be enforced.

12. All notices and other communications hereunder shall be deemed to be sufficient if in writing and delivered in person or by a nationally recognized courier service, addressed, if to you, to the address set forth above; and if to the Company, to:

---

| |
|:---|
| IAC Inc. |
| 555 West 18th Street |
| New York, NY 10011 |
| Attention: Generalcounsel@iac.com |

---

or to such other address as you or the Company may have furnished to the other party in writing. Each notice delivered in person or by overnight courier shall be deemed given when delivered or when delivery is attempted and refused.

13. In case any provision contained in this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect by any court or administrative body with competent jurisdiction, such invalidity, illegality, or unenforceability shall not affect the remaining provisions hereof, which shall remain in full force and effect. Any provision so determined to be invalid, illegal, or unenforceable shall be reformed so that it is valid, legal, and enforceable to the fullest extent permitted by law; or, if such reformation is impossible, then this Agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein; *provided* that, upon any finding by a court of competent jurisdiction that this Agreement is illegal and/or unenforceable, you hereby agree to execute and deliver an agreement in substantially the same form as this Agreement, modified to the extent necessary so as to constitute a legal and enforceable agreement. Additionally, you agree that any breach by you of paragraphs 8, and/or 9 shall constitute a material breach of this Agreement as to which the applicable Company Releasees may seek all relief available under the law other than a breach that is inadvertent and insubstantial that is remedied promptly and not repeated.

14. This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement.

15. You acknowledge and agree that, in deciding whether to execute this Agreement, you have read this Agreement and have had at least twenty-one (21) days to consider its terms and effects and to ask any questions that you may have of anyone, and that you have executed this Agreement voluntarily and with full understanding of its terms and its effects on you, and that no fact, evidence, event, or transaction currently unknown to you but which may later become known to you will affect in any way or manner the final and unconditional nature of this Agreement. You further acknowledge that: (a) the release provided for herein is granted in exchange for the receipt of consideration that exceeds the amount to which you would otherwise be entitled upon termination of your employment; (b) the waiver of rights under this Agreement is knowing and voluntary as required under the Older Workers Benefit Protection Act; (c) you are hereby advised by the Company in writing to consult with an attorney, tax, and/or financial advisor of your choice before signing this Agreement, and that the Company has not provided to you any legal, tax, or financial advice in connection with the same; and (d) you have had answered to your satisfaction any questions you have asked with regard to the meaning and significance of any terms or provisions of this Agreement. After signing this Agreement, you shall have seven (7) days (the "**Revocation Period**") to revoke your decision by delivering to the Company at the above address a notarized written notice of your desire to revoke the Agreement by no later than the last day of the Revocation Period. This Agreement shall become effective automatically upon the expiration of the Revocation Period if you do not revoke it in the aforesaid manner (the "**Effective Date**"). If the last day of the Revocation Period falls on a Saturday, Sunday, or legal holiday, the last day of the Revocation Period will be deemed to be the next business day. In the event that you do not accept this Agreement as set forth above, or in the event that you revoke this Agreement in the manner set forth above, the obligation of the Company to provide the payments and/or benefits described in paragraph 2(a) of this Agreement shall immediately become null and void. Notwithstanding the foregoing, this Agreement shall not be effective unless and until the Company executes the Supplemental Company Release (in the form attached as Exhibit B to the ETA). However, for the avoidance of doubt, the execution or non-execution of the Supplemental Company Release shall not affect whether or not the Supplemental Release Conditions have been satisfied.

BY SIGNING THIS AGREEMENT, YOU STATE THAT:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) YOU HAVE READ THIS AGREEMENT AND HAVE HAD SUFFICIENT TIME TO CONSIDER ITS TERMS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) YOU UNDERSTAND ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT AND KNOW THAT YOU ARE GIVING UP IMPORTANT RIGHTS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) YOU AGREE WITH EVERYTHING IN THIS AGREEMENT;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) YOU ARE AWARE OF YOUR RIGHT TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS AGREEMENT, HAVE BEEN ADVISED OF SUCH RIGHT, AND HAD SUFFICIENT TIME TO CONSULT WITH AN ATTORNEY;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) YOU HAVE SIGNED THIS AGREEMENT KNOWINGLY AND VOLUNTARILY; AND

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (f) THIS AGREEMENT INCLUDES A RELEASE BY YOU OF ALL KNOWN AND UNKNOWN CLAIMS AS DESCRIBED IN THIS AGREEMENT.

If the foregoing correctly sets forth our mutual understanding, please sign on the next page and have notarized one copy of this Agreement and return it to the undersigned after the End Date, whereupon this letter shall constitute a binding agreement between us.

Sincerely,

---

| |
|:---|
| IAC Inc. |
| By: |
| SIGNER |
| SIGNER TITLE, IAC |

---

I, NAME, acknowledge that I have been given at least twenty-one (21) days from the date of this Agreement to consider the terms contained herein and that I have seven (7) days after signing this Agreement in which to rescind my acceptance hereof. I also acknowledge that I have been advised to consult with a lawyer prior to signing this Agreement. I knowingly and voluntarily agree to and accept the terms outlined in this Agreement without reservation and fully understand all of its terms.

ACCEPTED AND AGREED:

  <br> Kendall Handler <br> Date:

On this____ day of ___2026, before me personally came NAME to me known and known to me to be the person described in and who executed this Agreement, and she duly acknowledged to me that she executed the same.

  <br>Notary Public

EXHIBIT B

Supplemental Company Release of Executive

FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby acknowledged, and as required by the Employment Transition Agreement (the "**Agreement**"), by and among Kendall Handler ("**Executive**") and IAC Inc. (the "**Company**") on its behalf, and on behalf of its predecessors, affiliates and successors, and each of its past, present and future officers, directors, employees, representatives, attorneys, insurers, agents and assigns, individually and in their official capacities (collectively the "**Company Releasors**"), hereby waives, releases and forever discharges Executive and Executive's heirs, executors, administrators, trustees, legal representatives, and assigns (collectively, the "**Executive Releasees**") from any and all actions, causes of action, complaints, charges, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands (including attorneys' fees, costs, and disbursements actually incurred), whether known or unknown, at law or in equity, suspected or unsuspected, of every kind and nature whatsoever, in any way resulting from, arising out of or connected with Executive's employment by the Company or any of its subsidiaries or other affiliates or pursuant to any federal, state or local law, regulation or other requirements, including, without limitation, those arising under common law, which the Company Releasors or any of them ever had, now have, or hereafter shall or may have against the Executive Releasees or any of them for, upon, or by reason of any matter, cause, or thing whatsoever from the beginning of the world to the date that the Company signs this release of claims. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Agreement.

The Company acknowledges and agrees that by virtue of the foregoing, the Company has waived any relief available to the Company (including without limitation monetary damages, equitable relief, and reinstatement) under any of the claims and/or causes of action waived in this release. The Company therefore agrees that the Company will not seek or accept any award of damages or settlement relating to any purported damages from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this release. Notwithstanding anything to the contrary set forth in this release, the Company does not release, waive, or discharge Executive from any claims to seek to enforce this release.

For purposes of implementing a full and complete release and discharge of the Executive Releasees, except as set forth in the following paragraph, the Company acknowledges that this release is intended to include in its effect, without limitation, all claims or other matters described in this release that neither party knows or suspects to exist in the Company's favor at the time of execution hereof, and that this release contemplates the extinguishment of any and all such claims or other such matters. The Executive Releasees who are not a party to this release are third-party beneficiaries of this release and are entitled to enforce its provisions.

Excluded from the scope of this release is (a) any claim arising after the effective date of this release, (b) any claims that seek to enforce this release, (c) any claims relating to Executive's commission of fraud or criminal acts against Company or its affiliates or other substantial, willful and intentional misconduct related to Executive's employment with the Company or any of its affiliates and (d) any claim under the Company's compensation recovery policy as in effect on the date hereof or as subsequently modified to the extent required by applicable law.

Intending to be legally bound, the Company has signed this Release of Claims as of the date written below.

---

| | |
|:---|:---|
|  | IAC INC. |
| Date | Name: |
|  | Title: |
|  | Kendall Handler |

---

## Exhibit 99.1

**Exhibit 99.1**

**Letter from Barry Diller to IAC Shareholders:** 

**IAC Announces Name Change to People Incorporated**

**NEW YORK—April 28, 2026―**IAC (NASDAQ: IAC) today announced the company is changing its name to People Incorporated as it continues to sharpen its focus on its People Inc. publishing business and its investment in MGM Resorts International. The name change is expected to occur by the company's second quarter earnings in August.

IAC Chairman and Senior Executive Barry Diller published a letter to shareholders today, outlining the rationale for the name change. The letter in its entirety is below.

April 28, 2026

Dear Shareholders,

Today's news is that IAC is changing its corporate name to People Incorporated.

Throughout its three decades, this company has always been opportunistic. That's the only guidewire I've ever followed, and I believe today and tomorrow's opportunities will best be held in the corpus of this new corporate name.

Some backgrounding will be helpful in explaining why.

I bought into little Silver King Communications in 1995. It had about $40 million in sales, and as it evolved over the next decades, we became HSN, then USA Networks, and finally, in 2003, IAC/InterActiveCorp, and then even more simply, IAC Inc.

Those name changes were the result of our changing business model. We began as a string of small television stations, then merged with HSN, a home shopping channel, and a few years later bought the USA Networks and Universal Television. At HSN, we gained some expertise in ecommerce and interactive models in the primitive convergence of television screens, computers, and phones. And then came the internet revolution in 1995 and out of that a unique business model—buying, building and creating interactive business. Over the years, that has resulted in our owning and operating more than 200 companies and overseeing well over 100 minority investments.

By then we were the definition of a conglomerate. As we evolved, I came to believe that operating all these disparate entities wasn't the optimum method and began a process of spinning them out into their own independent companies. Once we felt they were of sufficient size and success I thought they'd be better off on their own and sought to become a sort of anti-conglomerate, 'spinning out' 11 public entities.

All this activity over these past three decades has resulted in creating over $144 billion of value at peak equity prices.

In the last few years, ecommerce and interactivity valuations soared, new opportunities became fewer, and we began to scale down our acquisition activities to concentrate on the one sector we felt had the most potential in such a fast changing environment, that of the publishing businesses we'd built and acquired over the last 14 years. It was, as usual for us, a contrarian move but as I outline below, a most successful one.

Our major continuing operating business is now our publishing operations. We are unlike most publishers in that we began as a native digital publisher and spent a decade developing the expertise to grow into a thriving digital business anchored online. We were leaning into digital publishing with all our might when our competitors were downsizing their operations because of that digital disruption. In late 2021, we then acquired Meredith. The earlier combination of Meredith and Time Inc. boasted 30+ brands such as the iconic PEOPLE, Food + Wine, Southern Living, and Travel & Leisure, all of which had incredible heritage but lacked digital reach. We brought our digital expertise to Meredith's brands, aiming to modernize these iconic assets and unlock their true potential.

We are now some years into that process, and the results have been excellent. As against most publishers, we are thriving. The first quarter of 2026 represents our 10th straight quarter of digital revenue growth, our EBITDA margins remain strong, and our audiences are growing rapidly across so many platforms, including social channels, Apple News, and our own live events.

We have succeeded by leveraging our knowledge and experience from across the breadth of IAC's digital businesses and applying them to People, trying new things, not being captive to old models or a legacy approach and not being dependent on others who could disrupt our business.

We've built our own extremely effective AI ad targeting product based on our first party data named D/Cipher.

We recognized the coming reality of zero search traffic years ago, successfully transitioning out of depending upon search engines for our traffic to create our own ecosystem which has resulted in a broad diversity in audience sources.

We have also begun a process called INVERSION, which to us means taking each of our properties and their intellectual capital and turning them into opportunities to play a direct role in creating new products and services that we own directly, rather than the traditional publishing model of licensing brands. We have literally 19 separate initiatives operating now that are exclusive of the traditional publishing model. I intend for us to be the principal, rather than the licensor, wherever we can in the products and services that will be birthed out of our enormous reservoir of content.

I do believe we have an unlimited opportunity to build a unique new day publishing model that has no equal in its ability to grow into a large enterprise. Under Neil Vogel's leadership, People's outstanding editorial and business staff and 3,500 employees, we deliver the most diversified expertise across our 40+ brands and the six 'books' we continue to publish in print. And publish, in the old sense we still do, and profitably, to the tune of shipping 250 million magazines a year.

So, there we are and that's why we're changing IAC's name to People Incorporated.

We're transitioning the necessary staff of IAC into the corpus of People. That will significantly reduce our overhead as we concentrate on our two assets: People publishing and our holdings in MGM Resorts.

As for me, I plan to continue to do what I have done here for years as Chairman and Senior Executive—be an advisor, instigator, stimulus, and sometimes irritant to the process. I will also continue to oversee our MGM investment.

We have an excellent balance sheet with plenty of cash to pursue opportunities. It's possible we'll find new arenas, that's always an option, but for now we'll concentrate on the two we have in front of us. Each cycle over the last 30 years, we downsized to a smaller company—I like that. It gives us room and energy to be agile and opportunistic.

The corpus of People Incorporated will include the assets of a mostly virtual media business together with the very hard assets of MGM Resorts—if you like, a perfect hedge in a world that is changing so unpredictively fast.

We've gone through four cycles since our founding more than 30 years ago, each one seeing opportunity in the dark. I can't tell you where the next journey will take us but can say with confidence that the base from which we start is square on solid, and…from there…we will proceed.

I'd say THANK YOU FOR YOUR ATTENTION TO THIS MATTER, but that would be more than presumptuous.

Barry Diller

###

**<u>About IAC</u>**

IAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC nearly three decades ago have emerged 10 independent, publicly-traded companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC is today primarily comprised of leading publisher People Inc. and its strategic equity positions in MGM Resorts International and Turo Inc. IAC is headquartered in New York City.

**<u>Cautionary Statement Regarding Forward-Looking Information</u>**

This press release may contain "*forward-looking* statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as "anticipates," "intends," "expects," "plans" and "believes," among others, generally identify *forward-looking* statements. These *forward-looking* statements include, among others, statements relating to: the planned corporate name change and consolidation, the expected reduction in overhead and related cost savings, the continued growth of our digital publishing business and expansion of our audience across platforms, the value and growth potential of our investment in MGM Resorts, our ability to develop, own and monetize new products and services derived from our content and intellectual property, our ability to identify and pursue new business opportunities and other similar matters. Actual results could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others: (i) the impact of advances in artificial intelligence ("AI") and other digital technologies, including AI-enabled search features, on how users access and consume information and the resulting effects on traffic, engagement and monetization, (ii) our reliance on search engines and third-party platforms, including changes in algorithms, policies, economics or features (including those implemented by Google), as well as the potential expiration or modification of key commercial agreements, (iii) our ability to effectively market our products and services in a cost-efficient manner across evolving digital channels, (iv) our dependence on advertising revenue and the sensitivity of such revenue to macroeconomic conditions, including factors affecting advertiser demand, consumer confidence and discretionary spending, as well as geopolitical and broader market uncertainty, (v) our ability to adapt to changes in digital marketing practices, including limitations on data access, tracking technologies and targeting capabilities, (vi) our ability to develop, distribute and monetize our products and services across mobile and other platforms and maintain effective relationships with third-party partners, (vii) the continued growth, engagement and monetization of our digital publishing brands, (viii) risks related to our Print business, including ongoing revenue declines, cost pressures (including paper and postage), and reliance on key vendors, (ix) our ability to access, collect, use and protect personal data and comply with evolving privacy and data protection laws and platform restrictions, (x) our ability to effectively engage with users, subscribers and caregivers across communication channels, (xi) the concentration of voting control among our Chairman and Senior Executive and related parties, (xii) risks related to our liquidity and indebtedness, including our ability to service debt and comply with related covenants, as well as limitations on access to subsidiary cash flows, (xiii) risks related to strategic transactions and initiatives, including our ability to realize anticipated benefits from prior transactions and execute future initiatives, (xiv) competitive pressures in rapidly evolving industries, including from larger or better-positioned competitors and AI-enabled offerings, (xv) our ability to build, maintain and protect our brands, (xvi) cybersecurity risks, including increasingly sophisticated attacks (including those enabled by AI) and vulnerabilities at third-party providers, (xvii) data security breaches, fraud and related liabilities, (xviii) risks associated with the integrity, scalability and reliability of our systems, technology and infrastructure, (xix) the impact of general economic, geopolitical and public health conditions, (xx) our dependence on key personnel and leadership transitions, (xxi) volatility in our stock price and risks related to our capital allocation strategy and (xxii) risks related to the planned corporate consolidation. Certain of these and other risks and uncertainties are described in our filings with the Securities and Exchange Commission (the "SEC"), including the most recent Annual Report on Form 10-K filed with the SEC on February 20, 2026, and subsequent reports that we file with the SEC. Other unknown or unpredictable factors that could also adversely affect our business, financial condition and results of operations may arise from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those expressed in any forward-looking statements we may make. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. You should, therefore, not rely on these *forward-looking* statements as representing our views as of any date subsequent to the date of this press release.

**<u>Contact Us</u>**

**IAC Investor Relations**

Mark Schneider

(212) 314-7400

**IAC Corporate Communications**

Valerie Combs

(212) 314-7251