Document:

Exhibit 10.3

 

EXECUTION COPY

 

Retention and Waiver Summary of Material
Terms

 

The following term sheet
sets forth the material terms for Gillian Munson (the “Executive”), the Chief Financial Officer of XO Group
Inc. (the “Company”), with respect to continued employment following the closing of the acquisition of the Company
by Wedding Wire, Inc. (the “Transaction”, and the date thereof, the “Closing Date”) contemplated
under that certain Agreement and Plan of Merger to be entered into between the Company and Wedding Wire, Inc. (the “Merger
Agreement”). Reference is made to that certain employment agreement between Executive and the Company dated November
12, 2013, as amended April 17, 2014, as the same may be amended by the parties thereto (including as permitted under the Merger
Agreement) (the “Employment Agreement”) and those options to purchase shares of common stock of the Company
and restricted common stock of the Company granted to the Executive under the applicable Company Stock Incentive Plan in accordance
with the resolutions of the compensation committee of the Board of Directors of the Company and outstanding as of the date hereof
(collectively, the “Company Equity Awards”). All references to the terms “Cause” and “Good
Reason” contained in this term sheet shall be as defined in the Employment Agreement and Company Equity Awards, as applicable.
This term sheet contains legally binding obligations on all parties hereto relating to the foregoing matters. Notwithstanding the
foregoing, if the Transaction does not close, this term sheet shall be rendered void and without effect and none of the parties
hereto shall have any obligation to the others hereunder. The terms set forth in this term sheet will be incorporated into an agreement
amending or amending and restating the Executive’s Employment Agreement prior to the Closing Date.

 

	Post-Closing 

Base Salary	 	 $437,091 per annum (“Base Salary”).
	 	 	 
	Post-Closing

Annual Bonus	 	
        Executive will be eligible for an annual target bonus opportunity
        which will continue to be 60% of Base Salary (“Target Bonus”). The actual bonus earned for the year in which
        the Transaction occurs will be earned based on the performance targets established by the Company in the ordinary course of business
        consistent with past practice as set forth in the schedules to the Merger Agreement, with the achievement of such targets at the
        end of such year to be determined by the Board of Directors of the parent entity of Wedding Wire, Inc. (the “Parent”).
        In any year following the year in which the Transaction occurs, Executive will remain eligible to earn an annual Target Bonus,
        in accordance with the bonus program to be administered by the combined Wedding Wire, Inc./Company (on and after the Transaction,
        the “Company”) for its combined senior executives, with the actual bonus for each such year to be determined
        based on attainment of the annual combined Company and individual performance criteria and objectives established by the compensation
        committee of Parent that are consistent with those established for the other senior executives of the combined Company.

         

        In the event that the Executive’s employment is terminated
by the Company without Cause or by the Executive with Good Reason (after taking into account the waiver contemplated herein),
the Executive will be entitled to receive a prorated portion of Executive’s target annual bonus opportunity for the year
in which such termination occurs (the “Prorated Bonus”).

	 	 	 
	Safe Harbor Severance Right	 	
        Executive will be eligible to receive payment of Executive’s
base salary severance payments equal to $437,091, plus the applicable COBRA subsidy amounts payable over the 12-month post-separation
from service period (the “Safe Harbor Severance”) and the Prorated Bonus, if (a) the Executive remains employed
through 180 days after the Closing Date (the “Safe Harbor Period”) and (b) Executive elects to resign the Executive’s
employment with the Company for any reason or no reason, so long as the Executive gives notice of such resignation to the Company
no more than 60 days prior to the end of the Safe Harbor Period and no less than 30 days prior to the end of the Safe Harbor Period,
with the effective date of such resignation to be the last day of the Safe Harbor Period (such resignation right, the “Resignation
Right”).

 

    	 	1	 

     

    

		 	
        In the event that the Executive’s employment
is terminated by the Company without Cause or by the Executive with Good Reason (after taking into account the waiver contemplated
herein) prior to the end of the Safe Harbor Period, the Executive will be entitled to the Safe Harbor Severance and the Prorated
Bonus.

         

        For the avoidance of doubt, the Safe Harbor Severance and Prorated
        Bonus is in lieu of and not in addition to any potential severance payments or benefits that may otherwise be due to the Executive
        under any other agreement, plan, program or policy, including, without limitation, the Employment Agreement (prior to any amendment
        to reflect the terms set forth herein).

         

        The payment of the Safe Harbor Severance will be subject to the
        Executive’s execution, delivery and non-revocation of a general release of claims in a form reasonably agreed between the
        parties, which release (i) shall contain customary exceptions including, without limitation, for existing rights to indemnification
        and to enforce the Executive’s rights under this term sheet (including under any agreement or amendment that memorializes
        the terms set forth in this term sheet, and any Employment Agreement) and with respect to the treatment of the Company Equity Awards
        and the 2019 Grant as provided under the Merger Agreement and this term sheet and (ii) shall contain customary cooperation covenants,
        but shall not expand the restrictive covenants described below (a “Release”).

	 	 	 
	Existing Company Equity Awards as of date of signing	 	
        Each unvested stock option to acquire shares in the Company held
        by the Executive that is a Company Equity Award will, upon the closing of the Transaction in accordance with the terms of the Merger
        Agreement, be assumed and converted into a cash award with a value based on the excess of the per share purchase price paid to
        a shareholder in the Transaction over the exercise price of the applicable unvested stock option multiplied by the number of shares
        underlying the unvested stock option, with such cash award to vest and be paid out on the earlier of the vesting dates set forth
        under the existing vesting schedules of the applicable awards and, as to 100% of the unvested portion of such awards, at the end
        of the Safe Harbor Period (subject to the Executive’s continued employment through each applicable vesting date).

         

        Each vested stock option to acquire shares in the Company held by
        the Executive will be converted into a right to receive cash in accordance with the terms of the Merger Agreement upon the closing
        of the Transaction.

         

        Each unvested restricted stock award of the Company that
is a Company Equity Award held by the Executive will, upon the closing of the Transaction in accordance with the terms of the
Merger Agreement, be assumed and converted into a cash award with a value based on the per share purchase price paid to a shareholder
in the Transaction multiplied by the number of shares of restricted stock underlying the applicable restricted stock award, with
such cash award to continue to vest and be paid out on the earlier of the vesting dates set forth under the existing vesting schedules
of the applicable awards and, as to 100% of the unvested portion of such awards, the end of the Safe Harbor Period (subject to
the Executive’s continued employment through each applicable vesting date).

 

    	 	2	 

     

    

	 	 	In the event that the Executive’s
employment is terminated without Cause or the Executive resigns with Good Reason (after taking into account the waiver of Good
Reason contemplated herein) prior to the vesting and payout of such converted Company Equity Awards, the Executive will be paid
100% of the unvested portion of the cash awards as soon as practicable after such termination of employment.

 

For the avoidance of doubt, if the Executive exercises the Executive’s Resignation Right, all of
the foregoing converted Company Equity Awards shall become 100% vested and paid out at the end of the Safe Harbor Period.

	 	 	 
	2019 Annual Retention Equity Grant	 	
        Executive will be entitled to receive a target annual retention
        equity grant (the “2019 Grant”), with a total grant date fair value equal to $1,375,000, to be made to Executive
        in March of 2019 in the ordinary course, except (a) that portion of the 2019 Grant which would in the ordinary course have been
        granted in the form of Company stock options will instead be granted in the form of Company restricted stock (or, if such grant
        occurs on or after the Closing Date, in cash), and (b) such 2019 Grant (to the extent made prior to the Closing Date), as of the
        Transaction, will, upon the closing of the Transaction in accordance with the terms of the Merger Agreement, be assumed and converted
        into a cash award with a value based on the per share purchase price paid to a shareholder in the Transaction multiplied by the
        number of shares of restricted stock underlying the applicable restricted stock award, and (c) such 2019 Grant, whether made before
        or after the Closing Date, will continue to vest and be paid out on the vesting dates set forth under the vesting schedules of
        the applicable award agreements for such 2019 Grants (which schedules shall be consistent with the prior annual retention equity
        grants made to senior executives of the Company), subject to the Executive’s continued employment through each applicable
        vesting date. For the avoidance of doubt, if the 2019 Grant is made following the Closing Date, such grant shall be made in cash
        equal to the total grant date fair value set forth above and all other terms and conditions shall be the same as if the 2019 Grant
        had been made in Company restricted stock prior to the Closing Date and been converted into cash as described above.

         

        In the event that the Executive’s employment is terminated
        without Cause or the Executive resigns with Good Reason (after taking into account the waiver of Good Reason contemplated herein)
        prior to the vesting and payout of the converted 2019 Grant as described above, the Executive will vest and be paid the portion
        of the unvested cash award in an amount equal to the greater of (x) so long as any such termination occurs more than 90 calendar
        days following the date of grant, 50% of the 2019 Grant and (y) a prorated amount of the 2019 Grant, with such prorated amount
        determined with each partial month being rounded up to the nearest whole month (i.e., as determined in accordance with the terms
        set forth in the schedules to the Merger Agreement). For the avoidance of doubt, if the termination without Cause or with Good
        Reason occurs less than 90 calendar days following the date of grant, the 2019 Grant shall vest pro rata based on the number of
        months (with each partial month being rounded up to the nearest whole month) that occurred after the date of grant and prior to
        such termination of employment.

         

        For the avoidance of doubt, if the Executive exercises the Executive’s
        Resignation Right, the converted 2019 Grant shall still be treated in the same manner as if the Executive had resigned with Good
        Reason as set forth above, and therefore shall vest and be paid out in the same manner as set forth in the immediately preceding
        sentence.

 

    	 	3	 

     

    

	Waiver of Good Reason	 	
        Executive agrees that the consummation of the Transaction (or the
        related changes solely to the Executive’s title, duties, authority, responsibilities or reporting relationships) shall not
        by itself constitute or be deemed to constitute “Good Reason” or a “constructive termination” (or any substantially
        similar terms) under the Employment Agreement with the Company or any of its subsidiaries or any other plan or agreement entered
        into with or sponsored by the Company or any of its subsidiaries (including with respect to any equity awards held by the Executive).

         

        The parties agree that, as of the Effective Time, the Executive
        shall remain a C-Suite executive and shall report to the Co-CEOs of Wedding Wire, Inc.

         

        For the avoidance of doubt, the foregoing waiver shall not impede
        or adversely impact any other rights to resign for Good Reason that Executive may have under any such definition applicable to
        the Executive under any Employment Agreement or other plan or agreement entered into with or sponsored by the Company or any of
        its subsidiaries (including with respect to any equity awards held by the Executive).

	 	 	 
	Termination of Employment 	 	In the event that the Executive’s employment is terminated by the Company without Cause or the Executive resigns with Good Reason after the end of the Safe Harbor Period following the Closing Date, the Executive will be entitled to continued Base Salary and benefits continuation for a period of 12 months, subject to the Executive’s execution, delivery and non-revocation of the Release, in addition to payment of the Prorated Bonus and any other compensation or benefits the Executive may have under any other plan or agreement entered into with or sponsored by the Company or any of its subsidiaries (including with respect to any equity awards held by the Executive).  
	 	 	 
	Restrictive Covenants	 	
        ·    Executive
        will agree that the provisions of the Company Employee Non-Disclosure, Non-Competition and Invention and Assignment Agreement that
        Executive signed upon commencement of employment with the Company (the form of which is attached as Exhibit A to this term sheet)
        shall be expanded to cover Wedding Wire, Inc. and its subsidiaries, which agreement, in summary, includes the following:

        o     Noncompete
        restriction during employment and for twelve months following termination of employment.

        o     Nonsolicitation
        of employees, suppliers and customers during employment and for twelve months following termination of employment.

        o     Confidentiality
        of information restriction of indefinite duration.

        ·    Executive
        will also agree to a perpetual nondisparagement of Parent, Wedding Wire, Inc., the Company and the majority owners of Parent (with
        a reciprocal non-disparagement covenant from Parent, Wedding Wire, Inc., XO Group Inc. and the majority owners of the Company,
        with such covenant to be limited in a customary manner to official statements and board members).

	 	 	 
	Miscellaneous	 	
        ·     This
        term sheet may be executed by .pdf or facsimile signatures in any number of counterparts, each of which shall be deemed an original,
        but all such counterparts shall together constitute one and the same instrument.

        ·    This
        term sheet shall be construed and enforced in accordance with, and the rights and obligations of the parties hereto shall be governed
        by, the laws of the State of New York without giving effect to the conflicts of law principles thereof.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF, the parties hereto have executed this
term sheet on the day and year written below.

 

	Executed this 24th day of September, 2018	 
	 	 	 	 
	 	 	/s/ Gillian Munson	 
	 	 	EXECUTIVE	 
	 	 	 	 
	Executed this 24th day of September, 2018	 
	 	 	 	 
	 	 	Wedding Wire, Inc.	 
	 	 	 	 
	 	By:	/s/ Timothy Chi	 
	 	 	Name: Timothy Chi	 
	 	 	Title: CEO	 
	 	 	 	 
	Executed this 24th day of September, 2018	 
	 	 	 	 
	 	 	XO Group Inc.	 
	 	 	 	 
	 	By:	/s/ Michael Steib	 
	 	 	Name: Michael Steib	 
	 	 	Title: Chief Executive OfficerExhibit 10.4

 

EXECUTION COPY

 

Retention and Waiver Summary of Material
Terms 

 

The following term
sheet sets forth the material terms for Paul Bascobert (the “Executive”), the President of XO Group Inc. (the
 “Company”), with respect to continued employment following the closing of the acquisition of the Company by
Wedding Wire, Inc. (the “Transaction”, and the date thereof, the “Closing Date”) contemplated
under that certain Agreement and Plan of Merger to be entered into between the Company and Wedding Wire, Inc. (the “Merger
Agreement”). Reference is made to that certain employment agreement between Executive and the Company dated September
5, 2016, as the same may be amended by the parties thereto (including as permitted under the Merger Agreement) (the “Employment
Agreement”) and those options to purchase shares of common stock of the Company and restricted common stock of the Company
granted to the Executive under the applicable Company Stock Incentive Plan in accordance with the resolutions of the compensation
committee of the Board of Directors of the Company and outstanding as of the date hereof (collectively, the “Company Equity
Awards”). All references to the terms “Cause” and “Good Reason” contained in this
term sheet shall be as defined in the Employment Agreement and Company Equity Awards, as applicable. This term sheet contains legally
binding obligations on all parties hereto relating to the foregoing matters. Notwithstanding the foregoing, if the Transaction
does not close, this term sheet shall be rendered void and without effect and none of the parties hereto shall have any obligation
to the others hereunder. The terms set forth in this term sheet will be incorporated into an agreement amending or amending and
restating the Executive’s Employment Agreement prior to the Closing Date.

 

	Post-Closing 

Base Salary	 	 $424,360 per annum (“Base Salary”).
	 	 	 
	Post-Closing

Annual Bonus	 	
        Executive will be eligible for an annual target bonus opportunity
        which will continue to be 60% of Base Salary (“Target Bonus”). The actual bonus earned for the year in which
        the Transaction occurs will be earned based on the performance targets established by the Company in the ordinary course of business
        consistent with past practice as set forth in the schedules to the Merger Agreement, with the achievement of such targets at the
        end of such year to be determined by the Board of Directors of the parent entity of Wedding Wire, Inc. (the “Parent”).
        In any year following the year in which the Transaction occurs, Executive will remain eligible to earn an annual Target Bonus,
        in accordance with the bonus program to be administered by the combined Wedding Wire, Inc./Company (on and after the Transaction,
        the “Company”) for its combined senior executives, with the actual bonus for each such year to be determined
        based on attainment of the annual combined Company and individual performance criteria and objectives established by the compensation
        committee of Parent that are consistent with those established for the other senior executives of the combined Company.

         

        In the event that the Executive’s employment is terminated
        by the Company without Cause or by the Executive with Good Reason (after taking into account the waiver contemplated herein), the
        Executive will be entitled to receive a prorated portion of Executive’s target annual bonus opportunity for the year in which
        such termination occurs (the “Prorated Bonus”).

 

    	 	1	 

     

    

 

 

	Safe Harbor Severance Right	 	
        Executive will be eligible to receive payment of Executive’s
        base salary severance payments equal to $424,360, plus the applicable COBRA subsidy amounts payable over the 12-month post-separation
        from service period (the “Safe Harbor Severance”) and the Prorated Bonus, if (a) the Executive remains employed
        through 180 days after the Closing Date (the “Safe Harbor Period”) and (b) Executive elects to resign the Executive’s
        employment with the Company for any reason or no reason, so long as the Executive gives notice of such resignation to the Company
        no more than 60 days prior to the end of the Safe Harbor Period and no less than 30 days prior to the end of the Safe Harbor Period,
        with the effective date of such resignation to be the last day of the Safe Harbor Period (such resignation right, the “Resignation
        Right”).

         

        In the event that the Executive’s employment is terminated
        by the Company without Cause or by the Executive with Good Reason (after taking into account the waiver contemplated herein) prior
        to the end of the Safe Harbor Period, the Executive will be entitled to the Safe Harbor Severance and the Prorated Bonus.

         

        For the avoidance of doubt, the Safe Harbor Severance and Prorated
        Bonus is in lieu of and not in addition to any potential severance payments or benefits that may otherwise be due to the Executive
        under any other agreement, plan, program or policy, including, without limitation, the Employment Agreement (prior to any amendment
        to reflect the terms set forth herein).

         

        The payment of the Safe Harbor Severance will be subject to
        the Executive’s execution, delivery and non-revocation of a general release of claims in a form reasonably agreed between
        the parties, which release (i) shall contain customary exceptions including, without limitation, for existing rights to indemnification
        and to enforce the Executive’s rights under this term sheet (including under any agreement or amendment that memorializes
        the terms set forth in this term sheet, and any Employment Agreement) and with respect to the treatment of the Company Equity Awards
        and the 2019 Grant as provided under the Merger Agreement and this term sheet and (ii) shall contain customary cooperation covenants,
        but shall not expand the restrictive covenants described below (a “Release”).

	 	 	 
	Existing Company Equity Awards as of date of signing	 	
        Each unvested stock option to acquire shares in the Company
        held by the Executive that is a Company Equity Award will, upon the closing of the Transaction in accordance with the terms of
        the Merger Agreement, be assumed and converted into a cash award with a value based on the excess of the per share purchase price
        paid to a shareholder in the Transaction over the exercise price of the applicable unvested stock option multiplied by the number
        of shares underlying the unvested stock option, with such cash award to vest and be paid out on the earlier of the vesting dates
        set forth under the existing vesting schedules of the applicable awards and, as to 100% of the unvested portion of such awards,
        at the end of the Safe Harbor Period (subject to the Executive’s continued employment through each applicable vesting date).

         

        Each vested stock option to acquire shares in the Company held
        by the Executive will be converted into a right to receive cash in accordance with the terms of the Merger Agreement upon the closing
        of the Transaction.

         

        Each unvested restricted stock award of the Company that is
        a Company Equity Award held by the Executive will, upon the closing of the Transaction in accordance with the terms of the Merger
        Agreement, be assumed and converted into a cash award with a value based on the per share purchase price paid to a shareholder
        in the Transaction multiplied by the number of shares of restricted stock underlying the applicable restricted stock award, with
        such cash award to continue to vest and be paid out on the earlier of the vesting dates set forth under the existing vesting schedules
        of the applicable awards and, as to 100% of the unvested portion of such awards, the end of the Safe Harbor Period (subject to
        the Executive’s continued employment through each applicable vesting date).

 

    	 	2	 

     

    

 

 

	 	 	
        In the event that the Executive’s employment is terminated
        without Cause or the Executive resigns with Good Reason (after taking into account the waiver of Good Reason contemplated herein)
        prior to the vesting and payout of such converted Company Equity Awards, the Executive will be paid 100% of the unvested portion
        of the cash awards as soon as practicable after such termination of employment.

         

        For the avoidance of doubt, if the Executive exercises the Executive’s
        Resignation Right, all of the foregoing converted Company Equity Awards shall become 100% vested and paid out at the end of the
        Safe Harbor Period.

	 	 	 
	2019 Annual Retention Equity Grant	 	
        Executive will be entitled to receive a target annual retention
        equity grant (the “2019 Grant”), with a total grant date fair value equal to $1,100,000, to be made to Executive
        in March of 2019 in the ordinary course, except (a) that portion of the 2019 Grant which would in the ordinary course have been
        granted in the form of Company stock options will instead be granted in the form of Company restricted stock (or, if such grant
        occurs on or after the Closing Date, in cash), and (b) such 2019 Grant (to the extent made prior to the Closing Date), as of the
        Transaction, will, upon the closing of the Transaction in accordance with the terms of the Merger Agreement, be assumed and converted
        into a cash award with a value based on the per share purchase price paid to a shareholder in the Transaction multiplied by the
        number of shares of restricted stock underlying the applicable restricted stock award, and (c) such 2019 Grant, whether made before
        or after the Closing Date, will continue to vest and be paid out on the vesting dates set forth under the vesting schedules of
        the applicable award agreements for such 2019 Grants (which schedules shall be consistent with the prior annual retention equity
        grants made to senior executives of the Company), subject to the Executive’s continued employment through each applicable
        vesting date. For the avoidance of doubt, if the 2019 Grant is made following the Closing Date, such grant shall be made in cash
        equal to the total grant date fair value set forth above and all other terms and conditions shall be the same as if the 2019 Grant
        had been made in Company restricted stock prior to the Closing Date and been converted into cash as described above.

         

        In the event that the Executive’s employment is terminated
        without Cause or the Executive resigns with Good Reason (after taking into account the waiver of Good Reason contemplated herein)
        prior to the vesting and payout of the converted 2019 Grant as described above, the Executive will vest and be paid the portion
        of the unvested cash award in an amount equal to the greater of (x) so long as any such termination occurs more than 90 calendar
        days following the date of grant, 50% of the 2019 Grant and (y) a prorated amount of the 2019 Grant, with such prorated amount
        determined with each partial month being rounded up to the nearest whole month (i.e., as determined in accordance with the terms
        set forth in the schedules to the Merger Agreement). For the avoidance of doubt, if the termination without Cause or with Good
        Reason occurs less than 90 calendar days following the date of grant, the 2019 Grant shall vest pro rata based on the number of
        months (with each partial month being rounded up to the nearest whole month) that occurred after the date of grant and prior to
        such termination of employment.

         

        For the avoidance of doubt, if the Executive exercises the Executive’s
        Resignation Right, the converted 2019 Grant shall still be treated in the same manner as if the Executive had resigned with Good
        Reason as set forth above, and therefore shall vest and be paid out in the same manner as set forth in the immediately preceding
        sentence.

 

    	 	3	 

     

    

 

 

	Waiver of Good Reason	 	Executive agrees that the consummation of the Transaction (or the related changes solely to the Executive’s title, duties, authority, responsibilities or reporting relationships) shall not by itself constitute or be deemed to constitute “Good Reason” or a “constructive termination” (or any substantially similar terms) under the Employment Agreement with the Company or any of its subsidiaries or any other plan or agreement entered into with or sponsored by the Company or any of its subsidiaries (including with respect to any equity awards held by the Executive).
	 	 	 
	 	 	
        The parties agree that, as of the Effective Time, the Executive
        shall remain a C-Suite executive and shall report to the Co-CEOs of Wedding Wire, Inc.

         

        For the avoidance of doubt, the foregoing waiver shall not impede
        or adversely impact any other rights to resign for Good Reason that Executive may have under any such definition applicable to
        the Executive under any Employment Agreement or other plan or agreement entered into with or sponsored by the Company or any of
        its subsidiaries (including with respect to any equity awards held by the Executive).

	 	 	 
	Termination of Employment 	 	In the event that the Executive’s employment is terminated by the Company without Cause or the Executive resigns with Good Reason after the end of the Safe Harbor Period following the Closing Date, the Executive will be entitled to continued Base Salary and benefits continuation for a period of 12 months, subject to the Executive’s execution, delivery and non-revocation of the Release, in addition to payment of the Prorated Bonus and any other compensation or benefits the Executive may have under any other plan or agreement entered into with or sponsored by the Company or any of its subsidiaries (including with respect to any equity awards held by the Executive).  
	 	 	 
	Restrictive Covenants	 	
        ·     Executive
will agree that the provisions of the Company Employee Non-Disclosure, Non-Competition and Invention and Assignment Agreement
that Executive signed upon commencement of employment with the Company (the form of which is attached as Exhibit A to this term
sheet) shall be expanded to cover Wedding Wire, Inc. and its subsidiaries, which agreement, in summary, includes the following:

        o     Noncompete
        restriction during employment and for twelve months following termination of employment.

        o     Nonsolicitation
        of employees, suppliers and customers during employment and for twelve months following termination of employment.

        o     Confidentiality
        of information restriction of indefinite duration.

        ·     Executive
will also agree to a perpetual nondisparagement of Parent, Wedding Wire, Inc., the Company and the majority owners of Parent (with
a reciprocal non-disparagement covenant from Parent, Wedding Wire, Inc., XO Group Inc. and the majority owners of the Company,
with such covenant to be limited in a customary manner to official statements and board members).

	 	 	 
	Miscellaneous	 	
        ·     This
term sheet may be executed by .pdf or facsimile signatures in any number of counterparts, each of which shall be deemed an original,
but all such counterparts shall together constitute one and the same instrument.

        ·     This
term sheet shall be construed and enforced in accordance with, and the rights and obligations of the parties hereto shall be governed
by, the laws of the State of New York without giving effect to the conflicts of law principles thereof.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this term sheet on the day and year written below.

 

	Executed this 24th day of September, 2018	 
	 	 	 	 
	 	 	/s/ Paul Bascobert	 
	 	 	EXECUTIVE	 
	 	 	 	 
	Executed this 24th day of September, 2018	 
	 	 	 	 
	 	 	Wedding Wire, Inc.	 
	 	 	 	 
	 	By:	/s/ Timothy Chi	 
	 	 	Name: Timothy Chi	 
	 	 	Title: CEO	 
	 	 	 	 
	Executed this 24th day of September, 2018	 
	 	 	 	 
	 	 	XO Group Inc.	 
	 	 	 	 
	 	By:	/s/ Michael Steib	 
	 	 	Name: Michael Steib	 
	 	 	Title: Chief Executive Officer

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