Document:

Exhibit 4.2

        

       

        

      VERISIGN, INC.

      (as Obligor)

       

      and

       

      U.S. BANK NATIONAL ASSOCIATION

      (as Trustee)

       

      First Supplemental Indenture

       

      Dated as of June 8, 2021

       

      2.700% Senior Notes due 2031

       

      
        
          

      

      TABLE OF CONTENTS

       

      	 	 	 	
              Page

            
	 	 	 	 
	
              ARTICLE I DEFINITIONS

            	
              1

            
	 	
              SECTION 1.1

            	
              Definitions

            	
              1

            
	
              ARTICLE II TERMS OF THE NOTES

            	
              5

            
	 	
              SECTION 2.1

            	
              Title

            	
              5

            
	 	
              SECTION 2.2

            	
              Aggregate Principal Amount

            	
              5

            
	 	
              SECTION 2.3

            	
              Maturity

            	
              6

            
	 	
              SECTION 2.4

            	
              Interest

            	
              6

            
	 	
              SECTION 2.5

            	
              Place of Payment

            	
              6

            
	 	
              SECTION 2.6

            	
              Optional Redemption

            	
              6

            
	 	
              SECTION 2.7

            	
              Change of Control Repurchase

            	
              9

            
	 	
              SECTION 2.8

            	
              Issue Date

            	
              10

            
	 	
              SECTION 2.9

            	
              Issue Price

            	
              10

            
	 	
              SECTION 2.10

            	
              Definitive and Global Notes

            	
              10

            
	 	
              SECTION 2.11

            	
              Denomination

            	
              10

            
	 	
              SECTION 2.12

            	
              Limitation on Liens

            	
              10

            
	 	
              SECTION 2.13

            	
              Limitation on Sale-Leaseback Transactions

            	
              12

            
	 	
              SECTION 2.14

            	
              Amendments to the Base Indenture

            	
              13

            
	 	
              SECTION 2.15

            	
              Counterparts

            	
              14

            

      

      

      EXHIBIT

       

      Exhibit A          Form of Senior Note

       

        

      
        
          

      

      THIS FIRST SUPPLEMENTAL INDENTURE, between VeriSign, Inc., a Delaware corporation (the “Obligor”), having its principal office at 12061
        Bluemont Way, Reston, Virginia 20190, and U.S. Bank National Association, as Trustee (the “Trustee”), is made and entered into as of this 8th day of June, 2021.

       

      RECITALS OF THE OBLIGOR

       

      WHEREAS, the Obligor and the Trustee executed and delivered an Indenture dated as of June 8, 2021 (the “Base Indenture”), to provide for the
        issuance by the Obligor from time to time of debt securities;

       

      WHEREAS, capitalized terms used herein, not otherwise defined, shall have the same meanings given them in the Base Indenture;

       

      WHEREAS, pursuant to a board resolution, the Obligor has authorized the issuance of $750,000,000 of its 2.700% Senior Notes due 2031 (the “Senior
          Notes”); and

       

      WHEREAS, the Obligor desires to establish the terms of the Senior Notes in accordance with Section 2.01 of the Base Indenture;

       

      NOW, THEREFORE, it is mutually agreed as follows:

       

      ARTICLE I

       

      DEFINITIONS

       
        SECTION 1.1          Definitions. For all
            purposes of this First Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise requires:

         

      

      “Attributable Debt” has the meaning specified in Section 2.13.

       

      “Change of Control” means the occurrence of any of the following: (1)
          any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the
          total voting power of the Voting Stock of the Obligor (or its successor by merger, consolidation or purchase of all or substantially all of its assets), other than a transaction in which (i) the Obligor becomes a wholly owned Subsidiary of a
          holding company and (ii) the direct or indirect holders of the voting stock of such holding company immediately following that transaction are substantially the same as the holders of the voting stock of the Obligor immediately prior to that
          transaction; (2) the adoption of a plan relating to the liquidation or dissolution of the Obligor; or (3) the merger or consolidation of the Obligor with or into another person or the merger of another person

          with or into the Obligor, or the sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation, in one or a series of related transactions) of all or substantially all the assets of the Obligor (determined
          on a consolidated basis) to another person, other than a transaction, in the case of a merger or consolidation transaction, following which holders of securities that represented 100% of the voting stock of the Obligor immediately prior to such
          transaction (or other securities into which such securities are converted as part of such merger or consolidation transaction) own directly or indirectly at least 50% of the voting power of the voting stock of the surviving person in such merger
          or consolidation transaction immediately after such transaction.

       

      
        
          

      

      
      “Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Ratings Event. For the avoidance of doubt, no
        change of control repurchase event will be deemed to have occurred in connection with any particular change of control unless and until such change of control has actually been consummated.

       

      “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having an actual or
        interpolated maturity comparable to the remaining term of the Senior Notes to be redeemed (assuming for this purpose that the Senior Notes mature on the Par Call Date).

       

      “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the arithmetic average of three Reference Treasury Dealer
        Quotations for such Redemption Date after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Quotation Agent obtains fewer than five Reference Treasury Dealer Quotations, the arithmetic average of all Reference
        Treasury Dealer Quotations for such Redemption Date.

       

      “Consolidated Total Assets” means, as of the time of determination, the consolidated total assets of the Obligor and its consolidated
        Subsidiaries as reflected on the most recent consolidated balance sheet prepared by the Obligor in accordance with GAAP contained in an annual report on Form 10-K or a quarterly report on Form 10-Q timely filed or any amendment thereto (and not
        subsequently disclaimed as not being reliable by the Obligor) prior to the time as of which “Consolidated Total Assets” is being determined; provided that “Consolidated Total Assets” shall be adjusted to give effect to each acquisition and
        disposition of assets other than in the ordinary course of business (including by way of merger) that has occurred since the date of the balance sheet referred to above and on or prior to the time of determination.

       

      “Cooperative Agreement” means that certain Cooperative Agreement No. NCR-92-18742 between VeriSign, Inc. (as successor to Network Solutions,
        Incorporated) and the United States Department of Commerce (as successor to the National Science Foundation), entered into as of January 1, 1993 (as amended from time to time).

       

      “First Supplemental Indenture” means this First Supplemental Indenture, as amended or supplemented from time to time.

       

      “guarantee” means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness of any other
        Person and any obligation, direct or indirect, contingent or otherwise, of such Person (1) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person (whether arising by virtue of
        partnership arrangements, or by agreement to keep well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement conditions or otherwise) or (2) entered into for purposes of assuring in any other manner
        the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided, however, that the term “guarantee” will not include endorsements for collection or deposit
        in the ordinary course of business. The term “guarantee,” when used as a verb, has a correlative meaning.

       

      
        2

        
          

      

      “incur” means issue, assume, effect a guarantee or otherwise become liable for.

       

      “Independent Investment Banker” means one of J.P. Morgan Securities LLC, BofA Securities, Inc., U.S. Bancorp Investments, Inc. or their
        respective successors, as may be appointed from time to time by the Obligor.

       

      “Intellectual Property” means the Registry Agreements, the Cooperative Agreement, all intellectual and similar property of every kind and
        nature now owned or hereafter acquired by the Obligor or any Restricted Subsidiary, including inventions, designs, patents, copyrights, trademarks, trade secrets, domain names, confidential or proprietary technical and business information,
        know-how, show-how or other similar data or information, software and databases and all embodiments or fixations thereof and related documentation, all additions, improvements and accessions to any of the foregoing and all registrations for any of
        the foregoing.

       

      “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s); a rating
        of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Obligor.

       

      “Moody’s” means Moody’s Investors Service Inc., or any successor to the rating agency business thereof.

       

      “Par Call Date” of the Senior Notes is March 15, 2031 (three months prior to the Maturity Date of the Senior Notes).

       

      “Principal Facility” means any primary secure data center or resolution site, office space or other facility owned as of the Issue Date of
        the Senior Notes or acquired by the Obligor or any Subsidiary of the Obligor after such date and located in the United States and its territories, other than any facility the net book value (computed in accordance with GAAP) of which, as of the
        time of such determination, does not exceed 1.0% of Consolidated Total Assets of the Obligor.

       

      “Principal Property” means, as the context may require, any real or immovable property forming part of or constituting any or all of any
        Principal Facility.

       

      “Quotation Agent” means the Reference Treasury Dealer appointed by the Obligor.

       

      “Rating Agency” means (1) each of Moody’s and S&P; and (2) if any of Moody’s and S&P ceases to rate the Senior Notes or fails to make
        a rating of the Senior Notes publicly available for reasons outside of the control of the Obligor, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Obligor (as
        certified by a resolution of the Board of Directors of the Obligor) as a replacement for such rating agency.

       

      
        3

        
          

      

      “Ratings Event” means the rating on the Senior Notes is lowered by each of the ratings agencies and the Senior Notes are not rated investment
        grade by each of the rating agencies on any date during the period commencing on the first public announcement by the Obligor of any change of control (or pending change of control) and ending 30 days following consummation of such change of
        control (which period will be extended following consummation of a change of control for so long as any of the rating agencies has publicly announced that it is considering a possible ratings downgrade); provided that a Ratings Event
        otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect to a particular change of control (and thus shall not be deemed a Ratings Event for purposes of the definition of change of control
        repurchase event hereunder) if the rating agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the trustee and the Obligor in writing at its or the Obligor’s request
        that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable change of control (whether or not the applicable change of control shall have occurred at
        the time of the Ratings Event).

       

      “Reference Treasury Dealer” means each of (1) J.P. Morgan Securities LLC and BofA Securities, Inc., or their respective affiliates, and their
        respective successors, (2) a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”) selected by U.S. Bancorp Investments, Inc., or its affiliates and (3) two other Primary Treasury Dealers selected by the
        Obligor and its successors; provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Obligor shall substitute therefor another Primary Treasury Dealer.

       

      “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the arithmetic average,
        as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed, in each case, as a percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer as of
        5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date.

       

      “Registry Agreements” means those certain Registry Agreements between VeriSign, Inc. and the Internet Corporation for Assigned Names and
        Numbers, entered into as of November 29, 2012 and July 1, 2017, respectively, as amended.

       

      “Remaining Scheduled Payments” means, with respect to any Senior Note to be redeemed, the remaining scheduled payments of the principal
        thereof and interest thereon that would be due after the related Redemption Date to the Par Call Date but for such redemption; provided, however, that, if such Redemption Date is not an Interest Payment Date with respect to such
        Senior Note, the amount of the next scheduled interest payment thereon shall be reduced by the amount of interest accrued thereon to such Redemption Date.

       

      “Restricted Subsidiary” means (i) any Subsidiary of the Obligor that would be a “significant subsidiary” of the Obligor within the meaning
        set forth in Rule 1-02(w)(ii) or (iii) of Regulation S-X under the Exchange Act as in effect on the Issue Date of the Senior Notes and (ii) any other Subsidiary of the Obligor that holds any Principal Property, in the case of each of the foregoing
        clauses (i) and (ii), excluding any Subsidiary that is not organized under the laws of any state of the United States of America or any Subsidiary thereof.

       

      “S&P” means Standard & Poor’s Ratings Group, Inc., or any successor to the rating agency business thereof.

       

      
        4

        
          

      

      “Sale and Leaseback Transaction” has the meaning specified in Section 2.13.

       

       “Senior Notes” has the meaning assigned in the Recitals.

       

      “Treasury Rate” means, with respect to any Redemption Date:

       

      	

            	•	
              the arithmetic mean (rounded to the nearest 1/100th of a percentage point) of the yields for the immediately preceding full week published in the most recent Federal Reserve Statistical Release H.15 (or if such statistical release is no
                longer published, any such other reasonably comparable index published weekly by the Board of Governors of the Federal Reserve System) that has become publicly available prior to the date of determination and which establishes yields on
                actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue; provided that if no maturity is
                within three months before or after the Maturity of the Senior Notes, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or
                extrapolated from those yields on a straight line basis rounding to the nearest month; or

            

       

      	

            	•	
              if that release, or any successor release, is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable
                Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that Redemption Date.

            

       

      The Treasury Rate shall be calculated on the third Business Day preceding the Redemption Date.

       

      “Voting Stock” of any specified Person as of any date means the capital stock of such Person that is at the time entitled to vote generally
        in the election of the board of directors of such Person.

       

      ARTICLE II

       

      TERMS OF THE NOTES

       

        
        SECTION 2.1          Title. The Senior Notes
            shall constitute a series of Notes having the title “2.700% Senior Notes due 2031” and shall be in the form attached as Exhibit A.

         

        SECTION 2.2          Aggregate
              Principal Amount. The aggregate principal amount of the Senior Notes that may be authenticated and delivered under this First Supplemental Indenture shall be unlimited; provided that the Obligor complies with the provisions of this First
            Supplemental Indenture.

         

      

      
        5

        
          

      

      SECTION 2.3          Maturity.
          The entire outstanding principal amount of the Senior Notes shall be payable on June 15, 2031.

       

      SECTION 2.4          Interest.
          The Senior Notes shall accrue interest at a rate of 2.700% per year. Interest shall accrue on the Senior Notes from the most recent Interest Payment Date to or for which interest has been paid or duly provided for (or if no interest has been paid
          or duly provided for, from the Issue Date of the Senior Notes), payable semiannually in arrears on June 15 and December 15 of each year. The Record Dates for payment of interest shall be June 1 and December 1 of each year (whether or not a
          Business Day).

       

      SECTION 2.5          Place of
            Payment. The place where the principal of (and premium, if any) and interest, if any, with respect to the Senior Notes shall be payable shall be the Corporate Trust Office.

       

      SECTION 2.6          Optional Redemption

       

      (a)          If the Obligor elects to
          redeem the Senior Notes pursuant to the optional redemption provisions of Section 2.6(j), it shall provide adequate notice to the Trustee and it shall furnish an (i) Officer’s Certificate setting forth (1) the Redemption Date, (2) the principal
          amount to be redeemed, and (3) the CUSIP and/or ISIN numbers of the Senior Notes and (ii) Opinion of Counsel to the Trustee.

       

      (b)          If fewer than all the Senior
          Notes are to be redeemed, the particular Senior Notes to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee from the Outstanding Senior Notes not previously called for redemption, by lot or on a pro
          rata basis to the extent practicable, or, in the case of Senior Notes in global form, the Senior Notes will be selected for redemption based on the depositary’s applicable procedures, such method of selection to provide for the selection for
          redemption of portions (equal to the minimum authorized denomination for the Senior Notes or any integral multiple thereof) of the principal amount of Senior Notes of a denomination larger than the minimum authorized denomination for the Senior
          Notes.

       

      (c)          In the case of partial
          redemption by the Obligor, the Trustee shall promptly notify the Obligor in writing of the Senior Notes selected for redemption and the principal amount thereof to be redeemed of each Senior Note if not in global form.

       

      (d)         Notice of any redemption of the
          Senior Notes in connection with a transaction or an event may, at the Obligor’s discretion, be given prior to the completion or the occurrence thereof. Notice of any redemption of the Senior Notes may, at the Obligor’s discretion, be given
          subject to one or more conditions precedent, including, but not limited to, completion of a corporate transaction that is pending (such as an equity or equity-linked offering, an incurrence of Indebtedness or an acquisition or other strategic
          transaction involving a change of control in the Obligor or another entity). If such redemption is so subject to satisfaction of one or more conditions precedent, such notice shall describe each such condition, and such notice may be rescinded in
          the event that any or all such conditions shall not have been satisfied or otherwise waived on or prior to the business day immediately preceding the relevant Redemption Date.

       

      
        6

        
          

      

      (e)         For all purposes of this First
          Supplemental Indenture, unless the context otherwise requires, all provisions relating to the redemption of Senior Notes shall relate, in the case of any Senior Note redeemed or to be redeemed only in part, to the portion of the principal of such
          Senior Note which has been or is to be redeemed.

       

      (f)          Notice of redemption to the
          Holders of Senior Notes to be redeemed as a whole or in part at the option of the Obligor shall be given by first-class mail, postage prepaid (or to the extent permitted or required by applicable DTC procedures or regulations with respect to
          global notes, sent electronically) not fewer than 10 nor more than 60 days prior to the Redemption Date, to each such Holder at such Holder’s last address appearing in the Security Register. All notices of redemption shall state:

       

      (i)          the
          Redemption Date;

       

      (ii)         the
          Redemption Price, or if not then ascertainable, the manner of calculating the Redemption Price;

       

      (iii)       if fewer
          than all Outstanding Senior Notes are to be redeemed, the identification (and, in the case of partial redemption, the respective principal amounts) of the Senior Notes to be redeemed from the Holder to whom the notice is given and that on and
          after the Redemption Date, upon surrender of such Senior Note, a new Senior Note or Senior Notes in the aggregate principal amount equal to the unredeemed portion thereof shall be issued in accordance with Section 2.6(i);

       

      (iv)        that on the
          Redemption Date the Redemption Price shall become due and payable upon each Senior Note called for redemption, and that interest, if any, thereon shall cease to accrue from and after said date;

       

      (v)         the place
          where Senior Notes called for redemption are to be surrendered for payment of the Redemption Price, which shall be the office or agency maintained by the Obligor pursuant to Section 9.02 of the Base Indenture;

       

      (vi)        the name and
          address of the Paying Agent;

       

      (vii)       that the
          Senior Notes called for redemption must be surrendered to the Paying Agent to collect the Redemption Price;

       

      (viii)      any
          condition precedent to the redemption and related information as required by Section 2.6(d); and

       

      (ix)        the CUSIP
          and/or ISIN number, and that no representation is made as to the correctness or accuracy of the CUSIP and/or ISIN number, if any, listed in such notice or printed on the Senior Notes.

       

      Notice of redemption of Senior Notes shall be given by the Obligor or, at the Obligor’s request, by the Trustee in the name and at the expense of the Obligor.

       

      
        7

        
          

      

      (g)        On or prior to 10 a.m., New York
          City time, on any Redemption Date, the Obligor shall deposit with the Trustee or with a Paying Agent (or, if the Obligor is acting as its own Paying Agent, segregate and hold in trust as provided in Section 9.03 of the Base Indenture) an amount
          of money sufficient to pay the Redemption Price of, and accrued interest on, all the Senior Notes which are to be redeemed on that date.

       

      (h)         Notice of redemption having
          been given as aforesaid, the Senior Notes (or portions thereof) so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price plus accrued and unpaid interest to the Redemption Date therein specified and
          from and after such date (unless the Obligor shall default in the payment of the Redemption Price) such Senior Notes shall cease to bear interest. Upon surrender of such Senior Notes for redemption in accordance with the notice, such Senior Notes
          shall be paid by the Obligor at the Redemption Price. Any installment of interest due and payable on or prior to the Redemption Date shall be payable to the Holders of such Senior Notes registered as such on the relevant Record Date according to
          the terms and the provisions of Section 2.06 of the Base Indenture. If any Senior Note called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid, bear interest from the Redemption Date at
          the rate prescribed therefor by the Senior Note.

       

      (i)          Any Senior Note that is to be
          redeemed only in part and is not a Global Note redeemed pursuant to the depository’s applicable procedures shall be surrendered at the office or agency maintained by the Obligor pursuant to Section 9.02 of the Base Indenture (with, if the Obligor
          or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Obligor and the Trustee duly executed by, the Holder thereof or the Holder’s attorney duly authorized in writing) and the Obligor
          shall execute and the Trustee shall authenticate and deliver to the Holder of such Senior Note without service charge and at the expense of the Obligor, a new Senior Note or Senior Notes, of any authorized denomination as requested by such Holder
          in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of such Senior Note so surrendered.

       

      (j)         Prior to the Par Call Date, the
          Obligor may redeem the Senior Notes at its option at any time, either in whole or in part upon at least 10 days, but not more than 60 days, prior notice given by mail (or to the extent permitted or required by applicable DTC procedures or
          regulations with respect to global notes, sent electronically) to the registered address of each Holder of the Senior Notes to be redeemed. If the Obligor elects to redeem the Senior Notes prior to the Par Call Date, it shall pay a Redemption
          Price equal to the greater of the following amounts, plus, in each case, accrued and unpaid interest thereon to, but excluding, the Redemption Date:

       

      (i)          100% of the
          aggregate principal amount of the Senior Notes to be redeemed on the Redemption Date; or

       

      (ii)         the sum of
          the present values of the Remaining Scheduled Payments.

       

      
        8

        
          

      

      In determining the present values of the Remaining Scheduled Payments the Obligor shall discount such payments to the Redemption Date on a semiannual basis (assuming a
        360-day year consisting of twelve 30-day months) using a discount rate equal to the Treasury Rate plus 20 basis points.

       

      In addition, at any time and from time to time, on or after the Par Call Date, the Obligor may redeem the Senior Notes at its option, either in whole or in part, upon
        at least 10 days, but not more than 60 days, prior notice given by mail (or to the extent permitted or required by applicable DTC procedures or regulations with respect to global notes, sent electronically) to the registered address of each Holder
        of the Senior Notes to be redeemed, at a redemption price equal to 100% of the aggregate principal amount of the Senior Notes to be redeemed on the redemption date, plus accrued and unpaid interest on such Senior Notes to, but excluding, the
        Redemption Date. Any redemption pursuant to this Section 2.6(j) shall be made pursuant to the provisions of Section 2.6(a) through (i).

       

      
        SECTION 2.7          Change of Control Repurchase.

      

       

      (a)         If a Change of Control
          Repurchase Event occurs, unless the Obligor has exercised its right to redeem the Senior Notes as set forth in Section 2.6, the Obligor shall be required to make an offer to each Holder of the Senior Notes to repurchase all or any part (in excess
          of $2,000 and in integral multiples of $1,000 in excess thereof) of that Holder’s Senior Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of the Senior Notes repurchased plus any accrued and unpaid
          interest on the Senior Notes repurchased to, but excluding, the date of repurchase.

       

      (b)         Within 30 days following any
          Change of Control Repurchase Event or, at the option of the Obligor, prior to any Change of Control, but after the public announcement of the Change of Control, the Obligor shall mail (or to the extent permitted or required by applicable DTC
          procedures or regulations with respect to global notes, send electronically) a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event
          and offering to repurchase the Senior Notes on the payment date specified in the notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is mailed (or to the extent permitted or required by
          applicable DTC procedures or regulations with respect to global notes, sent electronically). The notice shall, if mailed (or to the extent permitted or required by applicable DTC procedures or regulations with respect to global notes, sent
          electronically) prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on a Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice.

       

      (c)         The Obligor shall comply with
          the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations to the extent those laws and regulations are applicable in connection with the repurchase of the Senior Notes as a result of a Change of Control
          Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with this Section 2.7, the Obligor shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its
          obligations under this Section 2.7 by virtue of compliance with such securities laws or regulations.

       

      (d)          On the repurchase date
          following a Change of Control Repurchase Event, the Obligor shall, to the extent lawful:

       

      (i)          accept for
          payment all the Senior Notes or portions of the Senior Notes properly tendered pursuant to its offer;

       

      
        9

        
          

      

      (ii)         deposit
          with the Paying Agent an amount equal to the aggregate purchase price in respect of all the Senior Notes or portions of the Senior Notes properly tendered; and

       

      (iii)        deliver or
          cause to be delivered to the Trustee the Senior Notes properly accepted, together with an Officer’s Certificate stating the aggregate principal amount of Senior Notes being purchased by the Obligor.

       

      (e)         In the event that portions of
          the Senior Notes are properly tendered pursuant to the Obligor’s offer and the Obligor complies with the requirements of Section 2.7(d), the Paying Agent shall promptly pay to each Holder of Senior Notes properly tendered the purchase price for
          the Senior Notes, and the Trustee shall promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Senior Note equal in principal amount to any unpurchased portion of any Senior Notes surrendered.

       

      (f)         The Obligor shall not be
          required to make an offer to repurchase the Senior Notes upon a Change of Control Repurchase Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Obligor
          and such third party purchases all Senior Notes properly tendered and not withdrawn under its offer.

       

      (g)         Should the Obligor choose to
          exercise its rights under Section 3.02 of the Base Indenture, it shall no longer be obligated to make an offer to repurchase the Senior Notes following a Change of Control Repurchase Event.

      
          

        SECTION 2.8          Issue
              Date. The Issue Date of the Senior Notes is June 8, 2021; provided that additional Notes, if any, will have a different Issue Date.

         

        SECTION 2.9          Issue
              Price. The issue price of the Senior Notes is 99.712% of the aggregate principal amount of the Senior Notes; provided that additional Notes, if any, may have a different issue price.

         

        SECTION 2.10        Definitive
              and Global Notes. The Senior Notes are issuable in whole or in part in the form of Global Notes and the Depositary for such Global Notes shall be DTC.

         

        SECTION 2.11        Denomination. The Senior Notes
            shall be issued in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

         

        
          SECTION 2.12         Limitation
                on Liens. The Obligor will not, and will not permit any Restricted Subsidiary to, create, incur, assume or permit to exist any lien on any Principal Property or Intellectual Property or upon the
                capital stock of any Restricted Subsidiary to secure any Indebtedness of the Obligor or any Restricted Subsidiary without securing the Senior Notes equally and ratably with such Indebtedness for so long as such Indebtedness shall be so
                secured, subject to certain exceptions. The foregoing shall not apply to:

        

      

      
         

          

      

      
        10

        
          

      

      (1)          liens existing on May 24, 2021;

       

      (2)          liens on assets or property of a Person at the time
          it becomes a Subsidiary or is merged with, amalgamated with or consolidated into the Obligor or a Restricted Subsidiary securing only Indebtedness of such Person; provided such Indebtedness was not incurred in connection with such Person
          or entity becoming a Subsidiary or such merger, amalgamation or consolidation and such liens do not extend to any assets other than those of the Person becoming a Subsidiary (and such Person’s Subsidiaries, as applicable);

       

      (3)          liens existing on assets or property created at the
          time of, or within 18 months after, the acquisition, purchase, lease, improvement or development of such assets or property to secure all or a portion of the purchase price or lease for, or the costs of improvement or development of, such assets
          or property;

       

      (4)          liens to secure any extension, renewal, refinancing
          or refunding (or successive extensions, renewals, refinancings or refundings), in whole or in part, of any Indebtedness secured by liens referred to above or liens created in connection with any amendment, consent or waiver relating to such
          Indebtedness, so long as such lien is limited to all or part of the property which secured (or after-acquired property which was required to secure) the lien extended, renewed or replaced, the amount of Indebtedness secured is not increased
          (other than by the amount equal to any costs and expenses (including any premiums, fees or penalties) incurred in connection with any extension, renewal, refinancing or refunding);

       

      (5)          liens in favor of only the Obligor or one or more
          Subsidiaries granted by the Obligor or a Subsidiary to secure any obligations owed to the Obligor or a Subsidiary of the Obligor;

       

      (6)          liens in favor of the Trustee granted in accordance
          with the Base Indenture;

       

      (7)          carriers’, warehousemen’s, mechanics’,
          materialmen’s, repairmen’s and other like liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in good faith;

       

      (8)          liens solely on any cash earnest money deposits,
          escrow arrangements or similar arrangements made by the Obligor or any Restricted Subsidiary in connection with any letter of intent or purchase agreement for any acquisition or other transaction permitted hereunder;

       

      (9)          liens on cash or securing hedging obligations not
          entered into for speculative purposes and letters of credit entered into in the ordinary course of business;

       

      (10)        liens that are contractual rights of set-off;

       

      (11)        pledges and deposits made (i) in the ordinary course
          of business in compliance with workers’ compensation, unemployment insurance and other social security laws and (ii) in respect of letters of credit, bank guarantees or similar instruments issued for the account of the Obligor or any Restricted
          Subsidiary in the ordinary course of business supporting obligations of the type set forth in clause (i) above;

       

      
        11

        
          

      

      (12)        pledges and deposits made (i) to secure the
          performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business and (ii) in respect of letters of credit, bank
          guarantees or similar instruments issued for the account of the Obligor or any Restricted Subsidiary in the ordinary course of business supporting obligations of the type set forth in clause (i) above;

       

      (13)        liens for taxes, assessments or other governmental
          charges or levies not yet delinquent by more than 30 days or not yet subject to penalties for nonpayment or that are being contested in good faith by appropriate proceedings and for which the Obligor or any Restricted Subsidiary, as applicable,
          has maintained adequate reserves in accordance with GAAP; and

       

      (14)       liens otherwise prohibited by this Section 2.12,
          securing Indebtedness which, together with the value of Attributable Debt incurred in Sale and Leaseback Transactions permitted under Section 2.13 below, do not exceed the greater of (i) 10% of Consolidated Total Assets measured at the date of
          incurrence of any such lien and (ii) $300.0 million.

       

      
        SECTION 2.13         Limitation

              on Sale-Leaseback Transactions. The Obligor will not, and will not permit any Restricted Subsidiary to, enter into any
              arrangement with any Person pursuant to which the Obligor or any Restricted Subsidiary leases any Principal Property that has been or is to be sold or transferred by the Obligor or the Restricted Subsidiary to such Person (a “Sale and Leaseback Transaction”), except that a Sale and Leaseback Transaction is permitted if the Obligor or such Restricted Subsidiary would be entitled to incur
              Indebtedness secured by a lien on such property to be leased (without equally and ratably securing the outstanding Senior Notes) in an amount equal to the present value of the lease payments with respect to the term of the lease remaining on
              the date as of which the amount is being determined, discounted at the rate of interest set forth or implicit in the terms of the lease, compounded semi-annually (such amount is referred to as the “Attributable

                Debt”). The foregoing shall not apply to:

         

      

      (a)          temporary leases for a term, including renewals at the option of the lessee, of not more than three years;

       

      (b)          leases between only the Obligor and a Subsidiary of the Obligor or only between Subsidiaries of the Obligor;

       

      (c)         leases where the Obligor
          applies within 365 days after the sale an amount equal to the greater of the net proceeds of the sale or the Attributable Debt associated with the property to (i) the retirement of long-term secured
            Indebtedness; or, if the Obligor has no long-term secured Indebtedness outstanding, long-term Indebtedness that is pari passu with the Senior Notes, or (ii) the purchase of additional property or
            assets; and

       

      
        12

        
          

      

      (d)          leases of property executed by the time of, or within 12 months after the latest of, the acquisition, the completion of construction or improvement, or the commencement of commercial operation of the property.

       

      SECTION 2.14        Amendments to the Base Indenture.

       

      (a)          Sub-clause (b) of the first
          paragraph of Section 3.02 of the Base Indenture is hereby amended and restated in its entirety as follows (new text is bolded):

       

      “At the Obligor’s option, either (a) the Obligor shall be deemed to have been Discharged (as defined below) from its obligations with respect to the
        Notes of any series (“Legal Defeasance”) and/or (b) the Obligor shall cease to be under any obligation to comply with any term, provision or condition set forth in Sections 4.01(3) and 9.05 and Sections 2.7,
          2.12 and 2.13 of the First Supplemental Indenture between the Obligor and the Trustee, dated June 8, 2021 (the “First Supplemental Indenture”) (and any other Sections, covenants or Events of Default applicable to such Notes that are
        determined pursuant to Section 2.01 to be subject to this provision) with respect to the Notes of such series at any time after the applicable conditions set forth below have been satisfied (“Covenant Defeasance”):”

       

      (b)          The last sentence of the third
          to last paragraph of Section 3.02 of the Base Indenture is hereby amended and restated in its entirety as follows (new text is bolded):

       

      “If the Obligor exercises its option under Section 3.02(a), payment of the Notes may not be accelerated because of an Event of Default with respect
        thereto.  If the Obligor exercises its option under Section 3.02(b), payment of the Notes may not be accelerated because of an Event of Default specified in Section 4.01(3) and Section 4.01(7) and with respect to Section 7.01 and Section 9.05 and Sections 2.12 and 2.13 of the First Supplemental Indenture, and the Obligor shall no longer be obligated to make an offer under Section 2.7 of the First Supplemental Indenture upon the occurrence of a Change of
          Control Repurchase Event (as defined in the First Supplemental Indenture).”

       

      (c)          In addition to the Events of
          Default set forth in Section 4.01 of the Base Indenture, the Senior Notes shall include the following additional Event of Default designated as clause (8) of such Section, which shall be deemed an Event of Default under Section 4.01 of the Base
          Indenture:

       

      “(8) a failure by the Obligor to repurchase Senior Notes tendered for repurchase following the occurrence of a Change of Control Repurchase Event
        (as defined in the First Supplemental Indenture) in conformity with Section 2.7 of the First Supplemental Indenture.”

       

      (d)          In addition to the actions
          that may be taken without the consent of Holders, the Senior Notes shall include the following clause (12) to Section 8.01 of the Base Indenture:

       

      
        13

        
          

      

      “(12) to conform the Indenture to the section entitled “Description of Notes” in the prospectus supplement dated May 24, 2021 relating to the Senior
        Notes.”

       

      (e)          Section 8.02(4) of the Base
          Indenture is hereby amended and restated in its entirety as follows (new text is bolded):

       

      “(4) reduce the Redemption Price or the repurchase price of any Senior
        Note, change the date on which any Senior Note is subject to redemption or repurchase or add redemption provisions to the Senior Notes;”.

       

      SECTION 2.15        Counterparts. This First Supplemental Indenture and the Senior Notes shall be valid, binding, and enforceable against a party when executed and delivered by an authorized individual on behalf of the party by means
          of (i) an original manual signature, (ii) a faxed, scanned, or photocopied manual signature or (iii) any other electronic signature permitted by the federal Electronic Signatures in Global and National Commerce Act, state enactments of the
          Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, including any relevant provisions of the Uniform Commercial Code of the State of New York (collectively, “Signature Law”), in each case to the extent
          applicable. Each faxed, scanned, or photocopied manual signature, or other electronic signature of this First Supplemental Indenture or the Senior Notes shall for all purposes have the same validity, legal effect, and admissibility in evidence as
          an original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any faxed, scanned, or photocopied manual signature, or other electronic signature, of any other party and
          shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. This First Supplemental Indenture may be executed in any number of counterparts, each of which shall be deemed to be an original, but such
          counterparts shall, together, constitute one and the same instrument.

       

      [Remainder of page intentionally left blank; Signatures follow]

       

      
        14

        
          

      

      	 	
              VERISIGN, INC.

            
	 	 	 
	 	
              By:

            	/s/ George E. Kilguss, III
	 	 	
              Name:  George E. Kilguss, III

            
	 	 	
              Title:  Executive Vice President and Chief Financial Officer

            
	 	 	

            
	 	
              U.S. BANK NATIONAL ASSOCIATION,

            
	 	
              as Trustee

            
	 	 	

            
	 	
              By:

            	/s/ Michael W. McGuire
	 	 	
              Name:  Michael W. McGuire

            
	 	 	
              Title:  Vice President, Global Corporate Trust

            

      

      

      [Signature Page to First Supplemental Indenture]

      

      

      
        
          

      

      EXHIBIT A

      

      

      Form of Senior Note

       

      THIS IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN.

       

      UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW
        YORK, TO THE OBLIGOR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
        PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
        HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

       

      TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
        SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

       

      
        
          

      

      
      
        	No.	$

        

        

        	2.700% Senior Notes due 2031
	 
	 	
                CUSIP No.

                ISIN No.

              

      

      

       

      

      VERISIGN, INC., a Delaware corporation, promises to pay to Cede & Co., or registered assigns, the principal sum listed on the Schedule of
        Increases or Decreases in Global Note attached hereto on June 15, 2031.

       

      Interest Payment Dates: June 15 and December 15, commencing            .

       

      Record Dates: June 1 and December 1.

       

      Additional provisions of this Senior Note are set forth on the other side of this Senior Note.

       

      
        A-2

        
          

      

      IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed.

       

      	 	
              VERISIGN, INC.

            
	 	 	 
	 	
              By:

            	 
	 	 	
              Name:

            
	Dated:	 	
              Title:

            

      

      

      TRUSTEE’S CERTIFICATE OF AUTHENTICATION

      

      

      U.S. BANK NATIONAL ASSOCIATION,

      as Trustee, certifies that this is one of

      the Senior Notes referred

      to in the First Supplemental Indenture.

      

      

      	
              By:

            	 	 
	 	
              Authorized Signatory

            	 

       

        

      
        A-3

        
          

      

      [REVERSE SIDE OF NOTE]

       

      SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

       

      The initial principal amount of this Global Note is $ . The
          following increases or decreases in this Global Note have been made:

       

      	
              
                Date of Exchange

              

            	 	
              
                Amount of decrease

                 in Principal

                 Amount of this

                 Global Note

              

            	 	
              
                Amount of increase

                 in Principal

                 Amount of this

                 Global Note

              

            	 	
              
                Principal amount of

                 this Global Note

                 following such

                 decrease or increase

              

            	 	
              
                Signature of

                 authorized signatory

                 of Trustee

              

            
	 	 	 	 	 	 	 	 	 

      

      

      
        A-4

        
          

      

      2.700% Senior Notes due 2031

       

      	1.	
              Interest

            

       

      VERISIGN, INC., a Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein
        called the “Obligor”), promises to pay interest on the principal amount of this Senior Note at the rate per annum shown above. The Obligor shall pay interest semiannually on June 15 and December 15 of each year, commencing . The Record Dates for
        payment of interest shall be June 1 and December 1 of each year (whether or not a Business Day). Interest on this Senior Note shall accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been
        paid or duly provided for, from until the principal hereof is due. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.

       

      	2.	
              Method of Payment

            

       

      The Obligor shall pay interest on this Senior Note (except defaulted interest) to the Persons who are registered Holders at the close of business on
        the Record Date. Holders must surrender this Senior Note to a Paying Agent to collect principal payments. Payments in respect of this Senior Note represented by a Global Note (including principal, premium, if any, and interest) shall be made in
        immediately available funds to DTC or its nominees, as the case may be, as the Holder of such Global Note. The Obligor shall make all payments in respect of any certificated Senior Note in definitive form (including principal, premium, if any, and
        interest) at the office of the Paying Agent, except that, at the option of the Obligor, payment of interest may be made by mailing a check to the registered address of each Holder thereof or, upon request of a Holder of at least $1,000,000
        aggregate principal amount of Senior Notes, by wire transfer to an account located in the United States by the payee.

       

      	3.	
              Paying Agent and Registrar

            

       

      Initially, U.S. Bank National Association, a national banking association (the “Trustee”), shall act as Paying Agent and Registrar. The Obligor may
        act as Paying Agent.

       

      	4.	
              Indenture

            

       

      The Obligor issued this Senior Note under an Indenture dated as of June 8, 2021 (the “Base Indenture”), between the Obligor and the Trustee, as
        supplemented by the First Supplemental Indenture, dated as of June 8, 2021 (the “First Supplemental Indenture”; and the Base Indenture, as supplemented by the First Supplemental Indenture, the “Indenture”). The terms of this Senior Note include
        those stated in the Indenture, and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “TIA”). Terms defined in the Indenture and not defined
        herein have the meanings ascribed thereto in the Indenture. This Senior Note is subject to all terms and provisions of the Indenture, and Holders (as defined in the Indenture) are referred to the Indenture and the TIA for a statement of such terms
        and provisions. In the event of a conflict between any provision of this Senior Note and the Indenture, the Indenture shall govern such provision.

       

      
        A-5

        
          

      

      This Senior Note is a senior unsecured obligation of the Obligor of which an unlimited aggregate principal amount may be at any one time
        Outstanding. The Indenture imposes certain limitations on the ability of the Obligor and any Restricted Subsidiary to, among other things, create or incur Liens and enter into certain Sale-Leaseback Transactions. The Indenture also imposes
        limitations on the ability of the Obligor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all its property.

       

      	5.	
              Optional Redemption

            

       

      Prior to March 15, 2031 (three months prior to the Maturity Date of the Senior Notes) (the “Par Call Date”), the Obligor may redeem this Senior Note
        at its option at any time in whole or in part upon at least 10 days, but not more than 60 days, prior notice given by mail (or to the extent permitted or required by applicable DTC procedures or regulations with respect to global notes, sent
        electronically) to the registered address of each Holder of the Senior Notes to be redeemed. If the Obligor elects to redeem this Senior Note, it will pay a Redemption Price equal to the greater of the following amounts, plus, in each case,
        accrued and unpaid interest thereon to, but excluding, the Redemption Date:

       

      	

            	•	
              100% of the aggregate principal amount of this Senior Note; or

            

       

      	

            	•	
              the sum of the present values of the Remaining Scheduled Payments.

            

       

      In determining the present values of the Remaining Scheduled Payments the Obligor shall discount such payments to the Redemption Date on a
        semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at a discount rate equal to the Treasury Rate plus 20 basis points.

       

      In addition, at any time and from time to time, on or after the Par Call Date, the Obligor may redeem the Senior Notes at its option, either in
        whole or in part, upon at least 10 days, but not more than 60 days, prior notice given by mail (or to the extent permitted or required by applicable DTC procedures or regulations with respect to global notes, sent electronically) to the registered
        address of each Holder of the Senior Notes to be redeemed, at a redemption price equal to 100% of the aggregate principal amount of the Senior Notes to be redeemed on the Redemption Date, plus accrued and unpaid interest on such Senior Notes to,
        but excluding, the Redemption Date.

       

      	6.	
              Sinking Fund

            

       

      This Senior Note is not subject to any sinking fund.

       

      	7.	
              Notice of Redemption

            

       

      If the Obligor elects to redeem this Senior Note, it shall provide adequate notice to the Trustee and it shall furnish an (i) Officer’s Certificate
        setting forth (1) the Redemption Date, (2) the principal amount to be redeemed, and (3) the CUSIP and/or ISIN numbers of the Senior Notes and (ii) Opinion of Counsel to the Trustee.

       

      
        A-6

        
          

      

      Notice of redemption to the Holders of this Senior Note at the option of the Obligor shall be given by first-class mail, postage prepaid (or to the
        extent permitted or required by applicable DTC procedures or regulations with respect to global notes, sent electronically) not fewer than 10 nor more than 60 days prior to the Redemption Date to each such Holder at such Holder’s last address
        appearing in the Senior Note Register.

       

      Notice of any redemption to the Holders of this Senior Note in connection with a transaction or an event may, at the Obligor’s discretion, be given
        prior to the completion or the occurrence thereof. Notice of any redemption to the Holders of this Senior Note may, at the Obligor’s discretion, be given subject to one or more conditions precedent, including, but not limited to, completion of a
        corporate transaction that is pending (such as an equity or equity-linked offering, an incurrence of Indebtedness or an acquisition or other strategic transaction involving a change of control in the Obligor or another entity).  If such redemption
        is so subject to satisfaction of one or more conditions precedent, such notice shall describe each such condition, and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied or otherwise waived on or
        prior to the business day immediately preceding the relevant Redemption Date.

       

      	8.	
              Repurchase of this Senior Note at the Option of Holders upon Change of Control Repurchase Event

            

       

      If a Change of Control Repurchase Event occurs, unless the Obligor has exercised its right to redeem this Senior Note as described in the Indenture,
        the Obligor will be required to make an offer to each Holder of this Senior Note to repurchase all or any part (in excess of $2,000 and in integral multiples of $1,000 in excess thereof) of the applicable percentage of this Senior Note at a
        repurchase price in cash equal to 101% of the aggregate principal amount of such percentage of this Senior Note plus any accrued and unpaid interest on this Senior Note repurchased to, but excluding, the date of repurchase, as provided in,
        and subject to the terms of, the Indenture.

       

      	9.	
              Denominations; Transfer; Exchange

            

       

      Senior Notes may be issued in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may transfer
        or exchange this Senior Note in accordance with the Indenture. Upon any transfer or exchange, the Obligor and the Trustee may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes
        required by law or permitted by the Indenture. The Obligor need not register the transfer of or exchange this Senior Note if selected for redemption (except, in the event it will be redeemed in part, the portion not to be redeemed) or to transfer
        or exchange this Senior Note for a period of 10 days prior to mailing or providing a notice of redemption of Senior Notes to be redeemed.

       

      	10.	
              Persons Deemed Owners

            

       

      With certain exceptions, the registered Holder of this Senior Note may be treated as the owner of it for all purposes.

       

      
        A-7

        
          

      

      	11.	
              Unclaimed Money

            

       

      If money for the payment of principal or interest, if any, remains unclaimed for two years, the Trustee shall pay the money back to the Obligor at
        its request. After any such payment, Holders entitled to the money must look to the Obligor for payment as unsecured general creditors and the Trustee and the Paying Agent shall have no further liability with respect to such monies.

       

      	12.	
              Discharge and Defeasance

            

       

      Subject to certain conditions, the Obligor at any time may terminate some of or all its obligations under this Senior Note and the Indenture if the
        Obligor deposits with the Trustee U.S. dollars or non-callable U.S. Government Obligations for the payment of principal of, premium, if any, and interest on, this Senior Note to redemption or maturity, as the case may be.

       

      	13.	
              Amendment, Waiver

            

       

      Subject to certain exceptions set forth in the Indenture, (i) the Indenture may be amended under certain circumstances with the written consent of
        the Holders of at least a majority in aggregate principal amount of the Outstanding Senior Notes and (ii) certain defaults may be waived with the written consent of the Holders of at least a majority in principal amount of the Outstanding Senior
        Notes. Subject to certain exceptions set forth in the Indenture, without the consent of the Holders of any Senior Notes, the Obligor and the Trustee may amend the Indenture: (i) to evidence the succession of another Person to the Obligor and the
        assumption by any such successor of the covenants of the Obligor under the Indenture and the Senior Notes; (ii) to add to the covenants of the Obligor for the benefit of Holders of the Senior Notes or to surrender any right or power conferred upon
        the Obligor; (iii) to add any additional events of default for the benefit of Holders of the Senior Notes; (iv) to add to or change any of the provisions of the Indenture as necessary to permit or facilitate the issuance of Senior Notes in bearer
        form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Senior Notes in uncertificated form; (v) to secure the Senior Notes or add guarantees with respect to the Senior
        Notes; (vi) to add or appoint a successor or separate Trustee; (vii) to cure any ambiguity, defect or inconsistency; provided that the interests of the Holders of the Senior Notes are not adversely affected in any material respect; (viii)
        to supplement any of the provisions of the Indenture as necessary to permit or facilitate the defeasance and discharge of Senior Notes; provided that the interests of the Holders of the Senior Notes are not adversely affected in any
        material respect; (ix) to make any other change that would not adversely affect the Holders of the Senior Notes; (x) to make any change necessary to comply with any requirement of the Commission in connection with the qualification of the Indenture
        or any supplemental Indenture under the TIA; (xi) to conform the Indenture to the section entitled “Description of Notes” in the prospectus supplement dated May 24, 2021 relating to the Senior Notes; and (xii) to reflect the issuance of additional
        Senior Notes as permitted by Section 2.01 and Section 2.02 of the Base Indenture.

       

      
        A-8

        
          

      

      	14.	
              Defaults and Remedies

            

       

      If any Event of Default (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Obligor) with
        respect to this Senior Note occurs and is continuing, then either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Senior Notes may declare the principal of all Outstanding Senior Notes, and the
        interest to the date of acceleration, if any, accrued thereon, to be immediately due and payable by notice in writing to the Obligor (and to the Trustee if given by Holders) specifying the Event of Default. If an Event of Default relating to a
        merger or certain events of bankruptcy, insolvency or reorganization of the Obligor occurs, then the principal amount of all the Senior Notes then Outstanding and interest accrued thereon, if any, shall become and be immediately due and payable
        without any declaration or other act on the part of the Trustee or the Holders of the Senior Notes, to the fullest extent permitted by applicable law.

       

      Under certain circumstances, the Holders of a majority in principal amount of the Outstanding Senior Notes may rescind any such acceleration with
        respect to the Senior Notes and its consequences.

       

      No Holder of this Senior Note may institute any action, unless and until: (i) such Holder has given the Trustee written notice of a continuing Event
        of Default with respect to the Senior Notes; (ii) the Holders of at least 25% in aggregate principal amount of the Outstanding Senior Notes have made a written request to the Trustee to institute proceedings in respect of such Event of Default in
        its own name as Trustee hereunder; (iii) such Holder or Holders has or have offered the Trustee such reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; (iv) the Trustee has failed to
        institute any such proceeding for 60 days after its receipt of such notice, request and offer of indemnity; and (v) no inconsistent direction has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate
        principal amount of the Outstanding Senior Notes.

       

      	15.	
              Trustee Dealings with the Obligor

            

       

      Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or
        pledgee of this Senior Note and may otherwise deal with the Obligor with the same rights it would have if it were not Trustee.

       

      	16.	
              Authentication; Counterparts

            

       

      This Senior Note shall be valid, binding, and enforceable against a party when executed and delivered by an authorized individual on behalf of the
        party by means of (i) an original manual signature, (ii) a faxed, scanned, or photocopied manual signature or (iii) any other electronic signature permitted by the federal Electronic Signatures in Global and National Commerce Act, state enactments
        of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, including any relevant provisions of the Uniform Commercial Code of the State of New York, in each case to the extent applicable. Each faxed, scanned,
        or photocopied manual signature, or other electronic signature of this Senior Note shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to
        conclusively rely upon, and shall have no liability with respect to, any faxed, scanned, or photocopied manual signature, or other electronic signature, of any other party and shall have no duty to investigate, confirm or otherwise verify the
        validity or authenticity thereof. This Senior Note may be executed in any number of counterparts, each of which shall be deemed to be an original, but such counterparts shall, together, constitute one and the same instrument.

       

      
        A-9

        
          

      

      	17.	
              Governing Law

            

       

      THIS SENIOR NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

       

      	18.	
              CUSIP and ISIN Numbers

            

       

      The Obligor has caused CUSIP and ISIN numbers to be printed on this Senior Note and has directed the Trustee to use CUSIP and ISIN numbers in
        notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on this Senior Note or as contained in any notice of redemption and reliance may be placed only on the other
        identification numbers placed thereon.

       

       

        

      A-10Proof - tm2038080d4_ex1-1.htm

 

Exhibit 10.1

 

AMENDED AND RESTATED RESTRICTED STOCK AGREEMENT

 

This AMENDED AND RESTATED RESTRICTED STOCK AGREEMENT
(this “Agreement”), dated as of June 7, 2021, amends and restates the Restricted Stock Agreement, dated as of
November 5, 2020 (the “Effective Date”), between IAC/InterActiveCorp (“IAC”) and Joseph
Levin (“Executive”).

 

Reference also is made to the Employment Agreement
(“Employment Agreement”), by and between Executive and IAC, dated November 5, 2020. Capitalized terms used in
this Agreement, to the extent not defined, shall have the meanings set forth in the IAC/InterActiveCorp 2013 Stock and Annual Incentive
Plan (the “Plan”).

 

1.              Definitions

 

(a)              
“Cause” shall have the meaning ascribed to such term in the Employment Agreement.

 

(b)              
“CAGR” shall have the meaning set forth on Exhibit A to this Agreement.

 

(c)              
“Change in Control” shall have the meaning set forth in the IAC/Interactive Corp 2018 Stock and Annual
Incentive Plan (“2018 Plan”); provided, however, that the occurrence of the following shall also constitute
a Change in Control for purposes of this Agreement (with capitalized terms in the excerpt below having the meanings set forth in the 2018
Plan):

 

The acquisition by any individual entity or group (within
the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act), other than a Permitted Holder, of beneficial ownership (within
the meaning of Rule 13d-3 promulgated under the Exchange Act) of equity securities of the Company representing both (a) more than
35% of the voting power of the then Outstanding Company Voting Securities and (b) more than the aggregate voting power of the then Outstanding
Company Voting Securities represented by the equity securities held by the Permitted Holders; provided, however, that for
purposes of this item, the following acquisitions shall not constitute a Change in Control: (A) any acquisition by IAC, (B) any
acquisition directly from IAC, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by IAC
or any corporation controlled by IAC, or (D) any acquisition by Executive or his Affiliates.

 

(d)              
“Disability” shall have the meaning ascribed to such term in the Employment Agreement.

 

(e)              
“Early Settlement Election” means Executive’s election to settle the Award, effective on the sixth,
seventh, eighth or ninth anniversary of the Effective Date, as applicable, by providing written notice to IAC no earlier than one year
prior to the early settlement date and no later than one hundred eighty days prior to the early settlement date.

 

     

     

    

 

(f)               
“Extension Election” means an extension of the performance period for the Award from ten years to twelve
years, if Executive requests such extension by providing written notice to IAC during the period beginning on the fourth anniversary of
the Effective Date and ending on the sixth anniversary of the Effective Date, in accordance with Section 4A of the Employment Agreement,
provided that the Board of Directors of IAC, following discussion with Executive, agrees that such extension is reasonable in light of
the relevant circumstances at the time.

 

(g)              
“Good Reason” shall have the meaning ascribed to such term in the Employment Agreement.

 

(h)             
“IAC Class B Common Stock” means Class B common stock of IAC, $0.0001 par value per share.

 

(i)               
“IAC Common Stock” means common stock of IAC, $0.0001 par value per share.

 

(j)               
“IAC FMV” means the average of the closing prices of a share of IAC Common Stock on the NASDAQ Stock
Market (or other applicable exchange) on the five trading days preceding the date of measurement.

 

(k)              
“Pro-Ration Factor” means a fraction (not to exceed 1), (i) the numerator of which equals the number
of full and partial months from the Effective Date through the employment termination date, and (ii) the denominator of which equals 120.

 

(l)               
“Qualifying Termination” means a termination of Executive’s employment by IAC without Cause (other
than as a result of death or Disability) or by Executive for Good Reason.

 

(m)            
“Voting Agreement” means the Voting Agreement, of even date herewith, by and among Barry Diller, the
Diller Parties (as defined therein) and Executive.

 

2.             
Restricted Stock Award.

 

(a)             
Award Grant. IAC hereby grants to Executive on the Effective Date an award of 3,000,000 shares of Restricted Stock (the
 “Award”) under the Plan. The shares of Restricted Stock granted pursuant to the Award shall be issued in the
form of a book entry of shares in Executive’s name as soon as reasonably practicable after the Grant Date. The book entry relating
to the Award shall include a notation reflecting the restrictions on transfer applicable to the shares of Restricted Stock covered by
the Award.

 

(b)             
Restrictions on Transfer. Until such time (and to such extent) as the Award vests, and, in the case of vesting of the Award
in connection with an Early Settlement Election, until the tenth anniversary of the Effective Date, neither the Award, nor the shares
of IAC Common Stock covered by the Award, shall be transferable by Executive by means of sale, assignment, exchange, encumbrance, pledge,
hedge or otherwise; provided, however, that Executive may transfer shares of Restricted Stock to Executive’s spouse
or children (collectively, “Family Members”), trusts for the benefit of such Family Members, family limited
partnerships or family limited liability companies the partners or members of which are any of the foregoing, and, upon the death of Executive,
Executive’s executor, administrator and heirs (each, a “Permitted Transfer”), in each case subject to
the vesting of such shares and the forfeiture of such shares if they do not vest in accordance with the terms of this Agreement; provided
further, that in each case no Permitted Transfer shall be effective unless and until the transferee of the shares of Restricted Stock
executes and delivers to IAC an appropriate document, satisfactory to IAC, in which such Permitted Transferee agrees that it shall be
bound in the same manner as Executive by, and that its beneficial ownership of any shares of Restricted Stock covered by the Award shall
be subject to, all the terms and conditions provided in this Agreement, including the vesting and forfeiture provisions. Notwithstanding
the foregoing, any rights or obligations under this Agreement that arise in connection with a termination of employment shall be based
on Executive’s termination of employment with IAC.

 

    -2-

     

    

 

3.             
Vesting of Award

 

(a)              
Regular Vesting. Subject to the terms and conditions of this Agreement, the provisions of the Plan and Executive’s
continuous employment through the ten year anniversary of the Effective Date, the Award will vest based on the IAC FMV as of the tenth
anniversary of the Effective Date with respect to the number of shares of IAC Common Stock determined in accordance with the “Regular
Vesting Matrix” below and Executive shall forfeit any portion of the Award that does not so vest:

 

	Regular Vesting Matrix
	IAC FMV	 	 	Number of Shares	 
	 	less than $110.22	 	 	 	0	 
	 	$110.22	 	 	 	500,000	 
	 	$140.25	 	 	 	2,000,000	 
	 	$177.45	 	 	 	2,750,000	 
	 	$223.32 or greater	 	 	 	3,000,000	 

 

The “Number of Shares” earned for an IAC FMV
between $110.22 and $140.25, between $140.25 and $177.45 or between $177.45 and $223.32 shall be determined by straight line interpolation.

 

    -3-

     

    

 

(b)              
Early Settlement Election. If Executive makes a valid Early Settlement Election, then, subject to the terms and conditions
of this Agreement, the provisions of the Plan and Executive’s continuous employment through the applicable Effective Date anniversary
designated in the Early Settlement Election notice, the Award will vest with respect to the number of shares of IAC Common Stock determined
in accordance with the “Early Settlement Vesting Matrix” below based on the IAC FMV on the applicable Effective Date anniversary
and Executive shall forfeit any portion of the Award that does not so vest; provided, however, that Executive agrees that
he shall not transfer or dispose of any such vested shares of IAC Common Stock prior to the tenth anniversary of the Effective Date and
that IAC and Executive will make arrangements that are reasonably satisfactory to IAC to ensure Executive’s compliance with this
transfer restriction.

 

	Early Settlement Vesting Matrix	 
	Early Vesting Date	 	IAC FMV	 	 	Number of Shares	 
	6th Anniversary	 	 	 	 	 	 
	(6 yrs = 60%)	 	$	99.85	 	 	 	300,000	 
	 	 	$	115.38	 	 	 	1,200,000	 
	 	 	$	132.88	 	 	 	1,650,000	 
	 	 	$	152.53	 	 	 	1,800,000	 
	7th Anniversary	 	 	 	 	 	 	 	 
	(7 yrs = 70%)	 	$	102.35	 	 	 	350,000	 
	 	 	$	121.15	 	 	 	1,400,000	 
	 	 	$	142.84	 	 	 	1,925,000	 
	 	 	$	167.78	 	 	 	2,100,000	 
	8th Anniversary	 	 	 	 	 	 	 	 
	(8 yrs = 80%)	 	$	104.90	 	 	 	400,000	 
	 	 	$	127.21	 	 	 	1,600,000	 
	 	 	$	153.56	 	 	 	2,200,000	 
	 	 	$	184.56	 	 	 	2,400,000	 
	9th Anniversary	 	 	 	 	 	 	 	 
	(9 yrs = 90%)	 	$	107.53	 	 	 	450,000	 
	 	 	$	133.57	 	 	 	1,800,000	 
	 	 	$	165.07	 	 	 	2,475,000	 
	 	 	$	203.02	 	 	 	2,700,000	 

 

The “Number of Shares” earned on any Early Vesting
Date for achievement between two IAC FMVs shall be determined by straight line interpolation.

 

(c)              
Qualifying Termination. Upon a Qualifying Termination, the Award will vest with respect to the number of shares of IAC Common
Stock determined in accordance with the “Qualifying Termination Vesting Matrix” below and Executive shall forfeit any portion
of the Award that does not so vest.

 

    -4-

     

    

 

	Qualifying Termination
    Vesting Matrix
	Employment Termination Date	 	Number of Shares
	On or prior to 4th Anniversary of the Effective Date	 	1,500,000
	After 4th Anniversary of the Effective Date	 	Pro rata, based on the product obtained by multiplying (1) 3,000,000 by (2) a fraction, (a) the numerator of which equals the sum (not to exceed 120) of (i) the number of full and partial months from the Effective Date through the employment termination date and (ii) twenty-four, and (b) the denominator of which equals 120.

 

(d)              
Death or Disability. If Executive’s employment with IAC terminates due to Executive’s death or Disability, then,
Executive or Executive’s estate shall remain eligible to earn a number of shares of IAC Common Stock equal to the product obtained
by multiplying (i) the “Number of Shares” determined by the “Death or Disability Matrix” set forth below by (ii)
the Pro-Ration Factor.

 

	Death or Disability
    Vesting Matrix	 
	Performance	 	Number of Shares	 
	Less than Tier 1	 	 	0	 
	Tier 1	 	 	500,000	 
	Tier 2	 	 	2,000,000	 
	Tier 3	 	 	2,750,000	 
	Tier 4	 	 	3,000,000	 

The “Number of Shares” earned for achievement between Tier 1 and Tier 2, between Tier 2 and Tier 3 or between Tier 3 and Tier
4 shall be determined by straight line interpolation.

 

(e)              
Termination for Cause. If Executive’s employment with IAC is terminated for Cause or if Executive resigns in anticipation
of being terminated for Cause, then Executive immediately shall forfeit any then unvested portion of the Award. This remedy shall be without
prejudice to, or waiver of, any other remedies IAC and/or its Subsidiaries and/or its Affiliates may have in such event.

 

    -5-

     

    

 

 

(f)               
Other Terminations of Employment. Upon any termination of Executive’s employment with IAC for any reason, prior to
the vesting of the Award, other than a termination of Executive’s employment covered by Section 3(c) or Section 3(d), any unvested
portion of the Award shall be forfeited and canceled in its entirety effective immediately upon such event.

 

(g)              
Change in Control. The Award shall vest in full upon the consummation of a Change in Control.

 

(h)              
Additional Vesting Conditions. The vesting of the Award pursuant to Section 3(c) and Section 3(d) shall be subject to the
satisfaction of the Release Conditions (as defined in the Employment Agreement).

 

(i)                
Vesting Limits/Award Sharing. Notwithstanding anything to the contrary contained in this Agreement, upon a vesting event
under this Section 3, Executive will forfeit the Shared Award Shares (as defined in Exhibit B hereto) as determined in accordance
with Exhibit B hereto and the value of any such Shared Award Shares shall be allocated by the Compensation Committee among
employees of IAC and its subsidiaries with a presumptive emphasis on employees whose annual compensation falls in the bottom quartile
of annual compensation of all employees of IAC and its subsidiaries as determined in the reasonable discretion of the Compensation Committee
after taking into account the recommendation of Executive if Executive is an employee of IAC as of the date of such determination by the
Compensation Committee.

 

4.          
Adjustments 

 

The Award, including the applicable performance
goals, shall be subject to adjustment pursuant to Section 3(d) of the Plan, as determined by the Compensation Committee or the Board (with
Executive recusing himself from any such Board determination) in a reasonable, good faith manner designed to be consistent with the underlying
principles and overall intent and thrust of the arrangements entered into on the date of this Agreement, including (a) this Agreement,
(b) the Voting Agreement and (c) the Employment Agreement.

 

5.           Release of Shares

 

Subject to Executive’s satisfaction of the
tax obligations described immediately below under “Taxes and Withholding,” and the requirements of Section 3(b) of this Agreement,
evidence of the removal of the restrictions on shares of Restricted Stock that have vested under this Agreement shall be provided to Executive
as soon as practicable following the date on which the restrictions on such shares of Restricted Stock have lapsed. Notwithstanding the
foregoing, IAC shall be entitled to maintain the restrictions on transfer applicable to the shares of Restricted Stock that have vested
under this Agreement until IAC or the agent selected by IAC to administer the Plan (the “Agent”) has received
from Executive: (i) a duly executed Form W-9 or W-8, as applicable or (ii) payment for any federal, state, local or foreign taxes of any
kind required by law to be withheld with respect to such Award.

 

    -6-

     

    

 

6.                 
Taxes and Withholding

 

No later than the date as of which an amount in
respect of any portion of the Award first becomes includible in Executive’s gross income for federal, state, local or foreign income
or employment or other tax purposes, IAC or its Subsidiaries and/or Affiliates shall deduct any federal, state, local or foreign taxes
of any kind required by law to be withheld with respect to such amount due to Executive by reducing the number of shares of IAC Common
Stock issued upon settlement of the Award that gives rise to the withholding requirement. In the event shares of IAC Common Stock are
deducted to cover tax withholdings, the number of shares of IAC Common Stock withheld shall generally have a value based on the IAC FMV
equal to the aggregate amount of IAC’s withholding obligation on the same date. If the event that any such deduction and/or withholding
is prohibited by law, Executive shall, prior to or contemporaneously with the vesting of the Award, pay to IAC, or make arrangements satisfactory
to IAC regarding the payment of, any federal, state, local or foreign taxes of any kind required by law to be withheld with respect to
such amount.

 

7.                 
[RESERVED]

 

8.                 
Rights as a Stockholder

 

Except as otherwise specifically provided in the
Plan or this Agreement, Executive shall have, with respect to the shares of Restricted Stock covered by the Award, all of the rights of
a stockholder of IAC holding shares of IAC Common Stock, including, if applicable, the right to vote the shares of Restricted Stock; provided,
however, that (a) cash dividends on shares of restricted IAC Common Stock covered by the Award shall be paid solely with respect
to the number of shares of restricted IAC Common Stock determined in accordance with the “Ordinary Cash Dividend Determination Matrix”
set forth below, and (b) subject to any adjustment pursuant to Section 3(d) of the Plan, dividends payable in shares of IAC
Common Stock shall be paid in the form of shares of Restricted Stock, held subject to the vesting of the shares of Restricted Stock covered
by the Award.

 

    -7-

     

    

 

	Ordinary Cash Dividend Determination Matrix
	Performance	 	Number of Shares	 
	Below Tier 1	 	 	0	 
	Tier 1	 	 	500,000	 
	Tier 2	 	 	2,000,000	 
	Tier 3	 	 	2,750,000	 
	Tier 4	 	 	3,000,000	 

 

The “Number of Shares” with respect
to which ordinary cash dividends shall be paid with respect to any given dividend record date for achievement between Tier 1 and Tier
2, between Tier 2 and Tier 3 or between Tier 3 and Tier 4 shall be determined by straight line interpolation.

 

9.                 
Conflicts and Interpretation

 

In the event of any conflict between this Agreement
and the Plan, the Plan shall control; provided that (a) an action or provision that is permissive under the terms of the Plan,
and required under this Agreement, shall not be deemed a conflict and this Agreement shall control and (b) in all other cases the Plan
shall be interpreted in a manner that gives maximum effect to the terms of this Agreement. In the event of any ambiguity in this Agreement,
or any matters as to which this Agreement is silent, the Plan shall govern including, without limitation, the provisions thereof
pursuant to which the Compensation Committee has the power, among others, to: (x) interpret the Plan, (y) prescribe, amend and rescind
rules and regulations relating to the Plan and (z) make all other determinations deemed necessary or advisable for the administration
of the Plan; provided that, in the event of a dispute between IAC and Executive, Section 12 of this Agreement will apply and the court
need not give deference to any Compensation Committee interpretation.

 

10.             
Amendment

 

This Agreement and the Award shall not be modified
in any respect except by a writing executed by each party hereto.

 

    -8-

     

    

 

11.             
Data Protection

 

The acceptance of the Award constitutes Executive’s
authorization of the release from time to time to IAC or any of its Subsidiaries or Affiliates and to the Agent (together, the “Relevant
Companies”) of any and all personal or professional data that is necessary or desirable for the administration of the Award and/or
the Plan (the “Relevant Information”). Without limiting the above, this authorization permits Executive’s employing
company to collect, process, register and transfer to the Relevant Companies all Relevant Information (including any professional and
personal data that may be useful or necessary for the purposes of the administration of the Award and/or the Plan and/or to implement
or structure any further grants of equity awards (if any)). The acceptance of the Award also constitutes Executive’s authorization
of the transfer of the Relevant Information to any jurisdiction in which IAC, Executive’s employing company or the Agent considers
appropriate. Executive shall have access to, and the right to change, the Relevant Information, which will only be used in accordance
with applicable law.

 

12.             
Governing Law; Jurisdiction

 

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 internal laws of the State of Delaware without reference to its principles of conflicts
of laws. 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 in 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 (a) agrees
that service of process may be made by mailing a copy of any relevant document to the address of the party set forth in the Employment
Agreement, (b) 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, (c) 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 (d)
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.

 

[Remainder of Page Intentionally Left Blank]

 

    -9-

     

    

 

IN WITNESS WHEREOF, IAC has caused this Agreement
to be executed and delivered by its duly authorized officer and Executive has executed and delivered this Agreement on June 7, 2021.

 

	 	
    IAC/InterActiveCorp

     

	 	/s/ Kendall Handler
	 	By:         Kendall Handler
	 	Title:    Senior Vice President, General Counsel and Secretary
	 	 
	 	/s/ Joseph Levin
	 	      JOSEPH LEVIN

 

    

     

    

 

 

Exhibit A

 

“CAGR” shall mean, with
respect to a specified period of years (including partial years), the compounded annual growth rate, expressed as a percentage, rounded
to four decimal places, in the value of IAC Common Stock during such period calculated as:

 

(A/B)1/C minus
1

 

where:

 

“A” equals the IAC FMV on the date of measurement;

 

“B” equals $86.10; and

 

“C” equals the number of years, including any fraction
of a year, from the Effective Date through the date of measurement.

 

Illustrative Example
of CAGR Calculation

 

(A/B)1/C minus
1

 

“A” equals $350, the IAC FMV on the sixth anniversary
of the Effective Date;

 

“B” equals $86.10, the IAC FMV on the
Effective Date; and

 

“C” equals 6.

($350/$86.10)1/6
minus 1 = 26.3313% CAGR

 

For purposes of the “Death or Disability Vesting Matrix”
and the “Ordinary Cash Dividend Determination Matrix”:

 

“Tier 1” means achievement of the CAGR implied
by the second row of the “Regular Vesting Matrix” ($110.22) for the period from the Effective Date through the date of Executive’s
termination of employment due to death or Disability, in the case of the Death or Disability Vesting Matrix, or through the applicable
dividend record date in the case of the Ordinary Cash Dividend Determination Matrix.

 

“Tier 2” means achievement of the CAGR implied
by the third row of the “Regular Vesting Matrix” ($140.25) for the period from the Effective Date through the date of Executive’s
termination of employment due to death or Disability, in the case of the Death or Disability Vesting Matrix, or through the applicable
dividend record date in the case of the Ordinary Cash Dividend Determination Matrix.

 

“Tier 3” means achievement of the CAGR implied
by the fourth row of the “Regular Vesting Matrix” ($177.45) for the period from the Effective Date through the date of Executive’s
termination of employment due to death or Disability, in the case of the Death or Disability Vesting Matrix, or through the applicable
dividend record date in the case of the Ordinary Cash Dividend Determination Matrix.

 

“Tier 4” means achievement of the CAGR implied
by the fifth row of the “Regular Vesting Matrix” ($223.32 or greater) for the period from the Effective Date through the date
of Executive’s termination of employment due to death or Disability, in the case of the Death or Disability Vesting Matrix, or through
the applicable dividend record date in the case of the Ordinary Cash Dividend Determination Matrix.

 

     

     

    

 

Exhibit B

 

Shared Value

 

		1.	Operative Provisions

 

		a.	If the CAGR for the period from the Effective Date through the date the Award vests is between 2.5% and 5.0%, then the “Shared
Value” shall equal the product obtained by multiplying (i) the total number of shares of IAC Common Stock covered by the Award that
would vest (without regard to this sharing mechanic) by (ii) the Final IAC FMV by (iii) 5%.

 

		b.	If the CAGR for the period from the Effective Date through the date the Award vests is between 5.01% and 7.5%, then the “Shared
Value” shall equal the sum of the following items:

 

10% of (A minus B)

 

5% of B

 

where:

 

“A” equals the product obtained by multiplying
(i) the total number of shares of IAC Common Stock covered by the Award that would vest (without regard to this sharing mechanic) by (ii)
the Final IAC FMV

 

“B” equals the Band 1 MEVBS

 

		c.	If the CAGR for the period from the Effective Date through the date the Award vests is between 7.51% and 15.0%, then the “Shared
Value” shall equal the sum of the following items:

 

20% of (A minus B)

 

10% of (B minus C)

 

5% of C

 

where:

 

“A” equals the product obtained by multiplying
(i) the total number of shares of IAC Common Stock covered by the Award that would vest (without regard to this sharing mechanic) by (ii)
the Final IAC FMV

 

“B” equals the Band 2 MEVBS

 

“C” equals the Band 1 MEVBS

 

		d.	If the CAGR for the period from the Effective Date through the date the Award vests is between 15.01% and 20%, then the “Shared
Value” shall equal the sum of the following items:

 

50% of (A minus B)

 

20% of (B minus C)

 

10% of (C minus D)

 

5% of D

 

where:

 

“A” equals the product obtained by multiplying
(i) the total number of shares of IAC Common Stock covered by the Award that would vest (without regard to this sharing mechanic) by (ii)
the Final IAC FMV

 

“B” equals the Band 3 MEVBS

 

“C” equals the Band 2 MEVBS

 

“D” equals the Band 1 MEVBS

 

     

     

    

 

		e.	If the CAGR for the period from the Effective Date through the date the Award vests exceeds 20.00%, then the “Shared Value”
shall equal the sum of the following items:

 

80% of (A minus B)

 

50% of (B minus C)

 

20% of (C minus D)

 

10% of (D minus E)

 

5% of E

 

where:

 

“A” equals the product obtained by multiplying
(i) the total number of shares of IAC Common Stock covered by the Award that would vest (without regard to this sharing mechanic) by (ii)
the Final IAC FMV

 

“B” equals the Band 4 MEVBS

 

“C” equals the Band 3 MEVBS

 

“D” equals the Band 2 MEVBS

 

“E” equals the Band 1 MEVBS

 

		2.	Definitions:

 

		a.	“Band 1 MEVBS” shall equal “A” times “B,” where “A” is the per
share price of IAC Common Stock assuming a 5.0% CAGR from the Effective Date through the date that the Award vests (the “Applicable
CAGR”) and “B” is the maximum number of Shares of IAC Common Stock covered by the Award that vests based on
the Applicable CAGR.

 

		b.	“Band 2 MEVBS” shall equal “A” times “B,” where “A” is the per
share price of IAC Common Stock assuming a 7.5% CAGR from the Effective Date through the date that the Award vests (the “Applicable
CAGR”) and “B” is the maximum number of Shares of IAC Common Stock covered by the Award that vests based on
the Applicable CAGR.

 

		c.	“Band 3 MEVBS” shall equal “A” times “B,” where “A” is the per
share price of IAC Common Stock assuming a 15% CAGR from the Effective Date through the date that the Award vests (the “Applicable
CAGR”) and “B” is the maximum number of Shares of IAC Common Stock covered by the Award that vests based on
the Applicable CAGR.

 

		d.	“Band 4 MEVBS” shall equal “A” times “B,” where “A” is the per
share price of IAC Common Stock assuming a 20.0% CAGR from the Effective Date through the date that the Award vests (the “Applicable
CAGR”) and “B” is the maximum number of Shares of IAC Common Stock covered by the Award that vests based on
the Applicable CAGR.

 

		e.	“Final IAC FMV” means the average of the closing prices of IAC Common Stock on the five trading days preceding
the date on which the Award vests.

 

		f.	“MEVBS” means the Maximum Earned Value Before Sharing.

 

		g.	“Shared Award Shares” shall equal the quotient, rounded down to the nearest whole share, obtained by dividing
 “Shared Value” by the Final IAC FMV.

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