Document:

EX-10.5

 Exhibit 10.5 

NKARTA, INC. 
 EMPLOYEE
STOCK PURCHASE PLAN 
  

	1.	 PURPOSE 

The purpose of this Plan is to assist Eligible Employees in acquiring a stock ownership interest in the Corporation, at a favorable price and
upon favorable terms, pursuant to a plan which is intended to qualify as an “employee stock purchase plan” under Section 423 of the Code. This Plan is also intended to encourage Eligible Employees to remain in the employ of the
Corporation (or a Subsidiary which may be designated by the Committee as a “Participating Subsidiary”) and to provide them with an additional incentive to advance the best interests of the Corporation. 

 

	2.	 DEFINITIONS 

Capitalized terms used herein which are not otherwise defined shall have the following meanings. 

“Account” means the bookkeeping account maintained by the Corporation, or by a recordkeeper on behalf of the Corporation, for
a Participant pursuant to Section 7(a). 
 “Board” means the Board of Directors of the Corporation. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time. 

“Commission” means the U.S. Securities and Exchange Commission. 

“Committee” means the committee appointed by the Board to administer this Plan pursuant to Section 12. 

“Common Stock” means the common stock, par value $0.0001 per share, of the Corporation, and such other securities or property
as may become the subject of Options pursuant to an adjustment made under Section 17. 
 “Compensation” means an
Eligible Employee’s regular gross pay. Compensation includes any amounts contributed as salary reduction contributions to a plan qualifying under Section 401(k), 125 or 129 of the Code. Any other form of remuneration is excluded from
Compensation, including (but not limited to) the following: severance pay, overtime payments, commissions, prizes, awards, relocation or housing allowances, stock option exercises, stock appreciation right payments, the vesting or grant of
restricted stock, the payment of stock units, performance awards, auto allowances, tuition reimbursement, perquisites, non-cash compensation and other forms of imputed income, bonuses, incentive compensation,
special payments, fees and allowances. Notwithstanding the foregoing, Compensation shall not include any amounts deferred under or paid from any nonqualified deferred compensation plan maintained by the Corporation or any Subsidiary. 

  
 1 

 “Contributions” means all bookkeeping amounts credited to the Account of a
Participant pursuant to Section 7(a). 
 “Corporation” means Nkarta, Inc., a Delaware corporation, and its successors.

 “Effective Date” means June 30, 2020, the date this Plan was adopted by the Board. 

“Eligible Employee” means any employee of the Corporation, or of any Subsidiary which has been designated in writing by the
Committee as a “Participating Subsidiary” (including any Subsidiaries which have become such after the date that this Plan is approved by the stockholders of the Corporation). Notwithstanding the foregoing and unless otherwise provided by
the Committee in advance of the applicable Offering Period, “Eligible Employee” shall not include any employee: 
  

	 	(a)	 whose customary employment is for not more than five (5) months in a calendar year; or

  

	 	(b)	 whose customary employment is for twenty (20) hours or less per week. 

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended from time to time. 

“Exercise Date” means, with respect to an Offering Period, the last day of that Offering Period. 

“Fair Market Value” on any date means: 
  

	 	(a)	 if the Common Stock is listed or admitted to trade on a national securities exchange, the closing price of a
share of Common Stock on such date on the principal national securities exchange on which the Common Stock is so listed or admitted to trade, or, if there is no trading of the Common Stock on such date, then the closing price of a share of Common
Stock on such exchange on the next preceding date on which there was trading in the shares of Common Stock; 

  

	 	(b)	 in the absence of exchange data required to determine Fair Market Value pursuant to the foregoing, the value as
established by the Committee as of the relevant time for purposes of this Plan. 

 “Grant Date” means the
first day of each Offering Period, as determined by the Committee and announced to potential Eligible Employees. 
 “Individual
Limit” has the meaning given to such term in Section 4(b). 

  
 2 

 “New Exercise Date” has the meaning given to such term in Section 18.

 “Offering Period” means the period of six (6) consecutive months commencing on each Grant Date; provided, however,
that the Committee may declare, as it deems appropriate and in advance of the applicable Offering Period, a shorter (not to be less than three months) Offering Period or a longer (not to exceed 27 months) Offering Period; provided, further, that the
Grant Date for an Offering Period may not occur on or before the Exercise Date for the immediately preceding Offering Period. 

“Option” means the stock option to acquire shares of Common Stock granted to a Participant pursuant to Section 8. 

“Option Price” means the per share exercise price of an Option as determined in accordance with Section 8(b). 

“Parent” means any corporation (other than the Corporation) in an unbroken chain of corporations ending with the Corporation
in which each corporation (other than the Corporation) owns stock possessing 50% or more of the total combined voting power of all classes of stock in one or more of the other corporations in the chain. 

“Participant” means an Eligible Employee who has elected to participate in this Plan and who has filed a valid and effective
Subscription Agreement to make Contributions pursuant to Section 6. 
 “Participating Subsidiary” means any Subsidiary
that has been designated in writing by the Committee as a Participating Subsidiary for purposes of this Plan. 
 “Plan”
means this Nkarta, Inc. Employee Stock Purchase Plan, as amended from time to time. 
 “Rule
16b-3” means Rule 16b-3 as promulgated by the Commission under Section 16, as amended from time to time. 

“Share Limit” has the meaning given to such term in Section 4(a). 

“Subscription Agreement” means the written enrollment agreement or applicable electronic form of enrollment agreement filed by
an Eligible Employee with the Corporation (or its designee) pursuant to Section 6 to participate in this Plan. 

“Subsidiary” means any corporation (other than the Corporation) in an unbroken chain of corporations (beginning with the
Corporation) in which each corporation (other than the last corporation) owns stock possessing 50% or more of the total combined voting power of all classes of stock in one or more of the other corporations in the chain. 

  
 3 

	3.	 ELIGIBILITY 

Any person employed as an Eligible Employee as of a Grant Date shall be eligible to participate in this Plan during the Offering Period in
which such Grant Date occurs, subject to the Eligible Employee satisfying the requirements of Section 6. 
  

	4.	 STOCK SUBJECT TO THIS PLAN; SHARE LIMITATIONS 

 

	 	(a)	 Aggregate Share Limit. Subject to the provisions of Section 17, the capital stock that may be
delivered under this Plan will be shares of the Corporation’s authorized but unissued Common Stock and any of its shares of Common Stock held as treasury shares. The maximum number of shares of Common Stock that may be delivered pursuant to
Options granted under this Plan is 295,599 shares, subject to adjustments pursuant to Section 17 (the “Share Limit”). 

In addition, subject to adjustments pursuant to Section 17, the Share Limit shall automatically increase on the first trading day in
January of each calendar year during the term of this Plan, commencing with January 2021, by an amount equal to the lesser of (i) one percent (1%) of the total number of shares of Common Stock issued and outstanding on December 31 of the
immediately preceding calendar year, (ii) 1,000,000 shares of Common Stock or (iii) such number of shares of Common Stock as may be established by the Board. 

In the event that during a particular Offering Period all of the shares of Common Stock made available under this Plan are subscribed prior to
the expiration of this Plan, this Plan and all outstanding Options hereunder shall terminate at the end of that Offering Period and the shares available shall be allocated for purchase by Participants in that Offering Period on a pro-rata basis determined with respect to Participants’ Account balances. 
  

	 	(b)	 Individual Share Limit. The maximum number of shares of Common Stock that any one individual may acquire
upon exercise of his or her Option with respect to any one Offering Period is 5,000 shares, subject to adjustments pursuant to Section 17 (the “Individual Limit”); provided, however, that the Committee may amend such Individual
Limit, effective no earlier than the first Offering Period commencing after the adoption of such amendment, without stockholder approval. The Individual Limit shall be proportionately adjusted for any Offering Period of less than six months, and
may, at the discretion of the Committee, be proportionately increased for any Offering Period of greater than six months. 

  

	 	(c)	 Shares Not Actually Delivered. Shares that are subject to or underlie Options, which for any reason are
cancelled or terminated, are forfeited, fail to vest, or for any other reason are not paid or delivered under this Plan shall again, except to the extent prohibited by law, be available for subsequent Options under this Plan. 

  
 4 

	5.	 OFFERING PERIODS 

During the term of this Plan, the Corporation will offer Options to purchase Shares in each Offering Period to all Participants in that
Offering Period. Unless otherwise specified by the Committee in advance of the Offering Period, Offering Periods will be of six (6) months duration. The Committee will specify in advance of each Offering Period when the Offering Period will
commence and the Grant Date of the Offering Period. Each Option shall become effective on the Grant Date of that Offering Period. The term of each Option shall be the duration of the related Offering Period and shall end on the Exercise Date of that
Offering Period. Offering Periods shall continue until this Plan is terminated in accordance with Section 18 or 19, or, if earlier, until no Shares remain available for Options pursuant to Section 4. 

 

	6.	 PARTICIPATION 

 

	 	(a)	 Enrollment. An Eligible Employee may become a Participant in this Plan by completing a Subscription
Agreement on a form approved by and in a manner prescribed by the Committee (or its delegate). To become effective, a Subscription Agreement must be signed by the Eligible Employee and filed with the Corporation (or its designee) at the time
specified by the Committee, but in all cases prior to the start of the Offering Period with respect to which it is to become effective, and must set forth a whole percentage (or, if the Committee so provides, a stated amount) of the Eligible
Employee’s Compensation to be credited to the Participant’s Account as Contributions each pay period. 

  

	 	(b)	 Contribution Limits. Notwithstanding the foregoing, a Participant’s Contribution election shall be
subject to the following limitations: 

  

	 	(i)	 the $25,000 annual limitation set forth in Section 8(c); 

 

	 	(ii)	 a Participant may not elect to contribute more than fifteen percent (15%) of his or her Compensation each pay
period as Plan Contributions; and 

  

	 	(iii)	 such other limits, rules, or procedures as the Committee may prescribe. 

 

	 	(c)	 Content and Duration of Subscription Agreements. Subscription Agreements shall contain the Eligible
Employee’s authorization and consent to the Corporation’s withholding from his or her Compensation the amount of his or her Contributions. An Eligible Employee’s Subscription Agreement, and his or her participation election and
withholding consent thereon, shall remain valid for all Offering Periods until (i) the Eligible Employee’s participation terminates pursuant to the terms hereof, (ii) the Eligible Employee files a new Subscription Agreement that
becomes effective, or (iii) the Committee requires that a new Subscription Agreement be executed and filed with the Corporation. 

  

	7.	 METHOD OF PAYMENT OF CONTRIBUTIONS 

 

	 	(a)	 Participation Account. The Corporation shall maintain on its books, or cause to be maintained by a
recordkeeper, an Account in the name of each Participant. The percentage (or amount, as applicable) of Compensation elected to be applied as Contributions by a Participant shall be deducted from such Participant’s Compensation on each payday
during the period for payroll deductions set forth below and such payroll deductions shall be credited to that Participant’s Account 

  
 5 

	 	
as soon as administratively practicable after such date. A Participant may not make any additional payments to his or her Account. A Participant’s Account shall be reduced by any amounts
used to pay the Option Price of shares acquired, or by any other amounts distributed pursuant to the terms hereof. 

  

	 	(b)	 Commencement of Payroll Deductions. Payroll deductions with respect to an Offering Period shall commence
as of the first day of the payroll period which coincides with or immediately follows the applicable Grant Date and shall end on the last day of the payroll period which coincides with or immediately precedes the applicable Exercise Date, unless
sooner terminated by the Participant as provided in this Section 7 or until his or her Plan participation terminates pursuant to Section 11. 

  

	 	(c)	 Withdrawal During an Offering Period. A Participant may terminate his or her Contributions during an
Offering Period (and receive a distribution of the balance of his or her Account in accordance with Section 11) by completing and filing with the Corporation (or its designee), in such form and on such terms as the Committee (or its delegate)
may prescribe, a written withdrawal form or applicable electronic withdrawal form which shall be completed by the Participant. Such termination shall be effective as soon as administratively practicable after its receipt by the Corporation. A
withdrawal election pursuant to this Section 7(c) with respect to an Offering Period shall only be effective, however, if it is received by the Corporation prior to the Exercise Date of that Offering Period (or such earlier deadline that the
Committee may reasonably require to process the withdrawal prior to the Exercise Date). Partial withdrawals of Accounts, and other modifications or suspensions of Subscription Agreements, except as provided in Section 7(d) or 7(e), are not
permitted. 

  

	 	(d)	 Change in Contribution Elections for the Following Offering Period. A Participant may discontinue,
increase, or decrease the level of his or her Contributions (within Plan limits) by completing and filing with the Corporation (or its designee), on such terms as the Committee (or its delegate) may prescribe, a new Subscription Agreement which
indicates such election. Subject to any additional timing requirements that the Committee may impose, an election pursuant to this Section 7(d) shall be effective with the first Offering Period that commences after the Corporation’s
receipt of such election. 

  

	 	(e)	 Discontinuing Contributions During an Offering Period. A Participant may discontinue his or her
Contributions (but not increase or otherwise decrease the level of his or her Contributions) during an Offering Period, by filing with the Corporation (or its designee), on such terms as the Committee (or its delegate) may prescribe, a new
Subscription Agreement which indicates such election. An election pursuant to this Section 7(e) shall be effective no earlier than the first payroll period that starts after the Corporation’s receipt of such election. If a Participant
elects to discontinue his or her Contributions pursuant to this Section 7(e), the Contributions previously credited to the Participant’s Account for that Offering Period shall be used to exercise the Participant’s Option as of the
applicable Exercise Date in accordance with Section 9 (unless the Participant makes a timely withdrawal election in accordance with Section 7(c), in which case the Participant’s Account will be paid to him or her in cash in accordance
with Section 11(a)). 

  
 6 

	8.	 GRANT OF OPTION 

 

	 	(a)	 Grant Date; Number of Shares. On each Grant Date, each Eligible Employee who is a Participant during
that Offering Period shall be granted an Option to purchase a number of shares of Common Stock. The Option shall be exercised on the Exercise Date. The number of shares subject to the Option shall be determined by dividing the Participant’s
Account balance as of the applicable Exercise Date by the Option Price. 

  

	 	(b)	 Option Price. The Option Price per share of the shares subject to an Option for an Offering Period shall
be the lesser of: (i) 85% of the Fair Market Value of a Share on the Grant Date of that Offering Period; or (ii) 85% of the Fair Market Value of a Share on the Exercise Date of that Offering Period; provided, however, that the Committee may
provide prior to the start of any Offering Period that the Option Price for that Offering Period shall be determined by applying a discount amount (not to exceed 15%) to either (1) the Fair Market Value of Common Shares on the Grant Date of the
Offering Period, or (2) the Fair Market Value of Common Shares on the Exercise Date of that Offering Period, or (3) the lesser of the Fair Market Value of Common Shares on the Grant Date of the Offering Period or the Fair Market Value of
Common Shares on the Exercise Date of that Offering Period. Notwithstanding anything to the contrary in the preceding provisions of this Section 8(b), in no event shall the Option Price per share be less than the par value of a share of Common
Stock. 

  

	 	(c)	 Limits on Share Purchases. Notwithstanding anything else contained herein, a person who is otherwise an
Eligible Employee shall not be granted any Option (or any Option granted shall be subject to compliance with the following limitations) or other right to purchase shares under this Plan to the extent: 

 

	 	(1)	 it would, if exercised, cause the person to own stock (within the meaning of Section 423(b)(3) of the
Code) possessing 5% or more of the total combined voting power or value of all classes of stock of the Corporation, or of any Parent, or of any Subsidiary; or 

 

	 	(2)	 such Option causes such individual to have rights to purchase stock under this Plan and any other plan of the
Corporation, any Parent, or any Subsidiary which is qualified under Section 423 of the Code which accrue at a rate which exceeds $25,000 of the fair market value of the stock of the Corporation, of any Parent, or of any Subsidiary (determined
at the time the right to purchase such stock is granted, before giving effect to any discounted purchase price under any such plan) for each calendar year in which such right is outstanding at any time. 

  
 7 

 For purposes of the foregoing, a right to purchase stock accrues when it first becomes
exercisable during the calendar year. In determining whether the stock ownership of an Eligible Employee equals or exceeds the 5% limit set forth above, the rules of Section 424(d) of the Code (relating to attribution of stock ownership) shall
apply, and stock which the Eligible Employee may purchase under outstanding options shall be treated as stock owned by the Eligible Employee. 
  

	9.	 EXERCISE OF OPTION 

Unless a Participant withdraws from an Offering Period pursuant to Section 7(c) or the Participant’s Plan participation is terminated
as provided in Section 11, his or her Option for the purchase of shares shall be exercised automatically on the Exercise Date for that Offering Period, without any further action on the Participant’s part, and the maximum number of whole
shares subject to such Option (subject to the Individual Limit set forth in Section 4(b) and the limitations contained in Section 8(c)) shall be purchased at the Option Price with the balance of such Participant’s Account. 

If any amount which is not sufficient to purchase a whole share remains in a Participant’s Account after the exercise of his or her Option
on the Exercise Date, such amount shall be refunded to such Participant as soon as administratively practicable after such date; provided that the Committee may provide in advance of an Offering Period for any such amount with respect to that
Offering Period to be credited to the Participant’s Account for the next Offering Period, if he or she is a Participant in such next Offering Period. 

If the Share Limit of Section 4(a) is reached, any amount that remains in a Participant’s Account after the exercise of his or her
Option on the Exercise Date to purchase the number of Shares that he or she is allocated shall be refunded to the Participant as soon as administratively practicable after such date. 

If any amount which exceeds the Individual Limit set forth in Section 4(b) or one of the limitations set forth in Section 8(c)
remains in a Participant’s Account after the exercise of his or her Option on the Exercise Date, such amount shall be refunded to the Participant as soon as administratively practicable after such date. 

 

	10.	 DELIVERY OF SHARES 

As soon as administratively practicable after the Exercise Date, the Corporation shall, in its discretion, either deliver to each Participant a
certificate representing the shares of Common Stock purchased upon exercise of his or her Option, provide for the crediting of such shares in book entry form in the name of the Participant, or provide for an alternative arrangement for the delivery
of such shares to a broker or recordkeeping service for the benefit of the Participant. In the event the Corporation is required to obtain from any commission or agency authority to issue any such certificate or otherwise deliver such shares, the
Corporation will seek to obtain such authority. If the Corporation is unable to obtain from any such commission or agency authority which counsel for the Corporation deems necessary for the lawful issuance of any such certificate or other delivery
of such shares, or if for any other reason the Corporation cannot issue or deliver shares of Common Stock and satisfy Section 21, the Corporation shall be relieved from liability to any Participant except that the Corporation shall return to
each Participant to whom such shares cannot be issued or delivered the amount of the balance credited to his or her Account that would have otherwise been used for the purchase of such shares. 

  
 8 

	11.	 TERMINATION OF EMPLOYMENT; CHANGE IN ELIGIBLE STATUS 

 

	 	(a)	 General. Except as provided in the next paragraph, if a Participant ceases to be an Eligible Employee
for any reason at any time prior to the last day of an Offering Period in which he or she participates, or if the Participant timely elects to terminate Contributions and withdraw from the Plan pursuant to Section 7(c), such Participant’s
Account shall be paid to him or her (or, in the event of the Participant’s death, to the person or persons entitled thereto under Section 13) in cash, and such Participant’s Option and participation in the Plan shall be automatically
terminated. 

 If a Participant (i) ceases to be an Eligible Employee during an Offering Period but remains an
employee of the Corporation or a Participating Subsidiary through the Exercise Date, or (ii) during an Offering Period commences a sick leave, military leave, or other leave of absence approved by the Corporation or a Participating Subsidiary,
and the leave meets the requirements of Treasury Regulation Section 1.421-1(h)(2) and the Participant is an employee of the Corporation or a Participating Subsidiary or on such leave as of the applicable
Exercise Date, such Participant’s Contributions shall cease, and the Contributions previously credited to the Participant’s Account for that Offering Period shall be used to exercise the Participant’s Option as of the applicable
Exercise Date in accordance with Section 9 (unless the Participant makes a timely election to terminate Contributions and withdraw from the Plan in accordance with Section 7(c), in which case such Participant’s Account shall be paid
to him or her in cash in accordance with the foregoing paragraph). 
  

	 	(b)	 Re-Enrollment. A Participant’s termination from Plan
participation precludes the Participant from again participating in this Plan during that Offering Period. However, such termination shall not have any effect upon his or her ability to participate in any succeeding Offering Period, provided that
the applicable eligibility and participation requirements are again then met. A Participant’s termination from Plan participation shall be deemed to be a revocation of that Participant’s Subscription Agreement and such Participant must
file a new Subscription Agreement to resume Plan participation in any succeeding Offering Period. 

  

	 	(c)	 Change in Subsidiary Status. For purposes of this Plan, if a Participating Subsidiary ceases to be a
Subsidiary, each person employed by that Subsidiary will be deemed to have terminated employment for purposes of this Plan and will no longer be an Eligible Employee, unless the person continues as an Eligible Employee in respect of the Corporation
or another Participating Subsidiary. 

  
 9 

	12.	 ADMINISTRATION 

 

	 	(a)	 The Committee. The Board shall appoint the Committee, which shall be composed of not less than two
members of the Board. Subject to the preceding sentence, the Board may, at any time, increase or decrease the number of members of the Committee, may remove from membership on the Committee all or any portion of its members, and may appoint such
person or persons as it desires to fill any vacancy existing on the Committee, whether caused by removal, resignation, or otherwise. The Board may also, at any time, assume or change the administration of this Plan. 

 

	 	(b)	 Powers and Duties of the Committee. The Committee shall administer this Plan and shall have full power
and discretion to adopt, amend and rescind any rules it considers desirable and appropriate for the administration of this Plan and not inconsistent with the terms of this Plan (including, without limitation, rules and deadlines for making elections
under the Plan, which deadlines may be more restrictive than the deadlines otherwise set forth in this Plan), to further define the terms used in this Plan, and to make all other determinations necessary or advisable for the administration of this
Plan or the effectuation of its purposes. The Committee shall act by majority vote or by unanimous written consent. No member of the Committee shall be entitled to act on or decide any matter relating solely to himself or herself or solely to any of
his or her rights or benefits under this Plan. The Committee shall have full power and discretionary authority to construe and interpret the terms and conditions of this Plan and any agreements defining the rights and obligations of the Corporation,
any Subsidiary, and any Participant or other person under this Plan, which construction or interpretation shall be final and binding on all parties including the Corporation, Subsidiaries, Participants and beneficiaries. Notwithstanding anything
else contained in this Plan to the contrary, the Committee may also adopt rules, procedures, separate offerings, or sub-plans applicable to particular Subsidiaries or locations, which separate offerings or sub-plans may be designed to be outside the scope of Section 423 of the Code and need not comply with the otherwise applicable provisions of this Plan. The Committee may delegate ministerial non-discretionary functions to third parties, including individuals who are officers or employees of the Corporation or Participating Subsidiaries. 

 

	 	(c)	 Decisions of the Committee are Binding; Reliance on Experts. Subject only to compliance with the express
provisions hereof, the Board and Committee may act in their absolute discretion in matters within their authority related to this Plan. Any action taken by, or inaction of, the Corporation, any Participating Subsidiary, the Board or the Committee
relating or pursuant to this Plan and within its authority hereunder or under applicable law shall be within the absolute discretion of that entity or body and shall be conclusive and binding upon all persons. In making any determination or in
taking or not taking any action under this Plan, the Board or Committee, as the case may be, may obtain and may rely on the advice of experts, including professional advisors to the Corporation. No member of the Board or Committee, or officer or
agent of the Corporation, will be liable for any action, omission or decision under the Plan taken, made or omitted in good faith. 

  
 10 

	 	(d)	 Indemnification. Neither the Board nor any Committee, nor any member thereof or person acting at the
direction thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with this Plan, and all such persons shall be entitled to indemnification and reimbursement by the Corporation
in respect of any claim, loss, damage or expense (including, without limitation, attorneys’ fees) arising or resulting therefrom to the fullest extent permitted by law and/or under any directors and officers liability insurance coverage that
may be in effect from time to time. 

  

	13.	 DEATH BENEFITS 

In the event of the death of a Participant, the Corporation shall deliver such shares and/or cash payable pursuant to the terms hereof to the
executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Corporation), the Corporation, in its sole discretion, may deliver such shares and/or cash to the spouse
or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Corporation, then to such other person as the Corporation may designate. 

 

	14.	 TRANSFERABILITY 

Neither Contributions credited to a Participant’s Account nor any Options or rights with respect to the exercise of Options or right to
receive shares under this Plan may be anticipated, alienated, encumbered, assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution, or as provided in Section 13) by the
Participant. Any such attempt at anticipation, alienation, encumbrance, assignment, transfer, pledge or other disposition shall be without effect and all amounts shall be paid and all shares shall be delivered in accordance with the provisions of
this Plan. Amounts payable or shares deliverable pursuant to this Plan shall be paid or delivered only to (or credited in the name of, as the case may be) the Participant or, in the event of the Participant’s death, as provided in
Section 13. 
 The Corporation may require a Participant to hold any shares the Participant acquires under this Plan in a brokerage
account identified by the Corporation until the date the shares are transferred, sold or otherwise disposed of in any way by the Participant, or such earlier time as the Corporation may determine. 

 

	15.	 USE OF FUNDS; INTEREST 

All Contributions received or held by the Corporation under this Plan will be included in the general assets of the Corporation and may be used
for any corporate purpose. Notwithstanding anything else contained herein to the contrary, no interest will be paid to any Participant or credited to his or her Account under this Plan (in respect of Account balances, refunds of Account balances, or
otherwise). 

  
 11 

	16.	 REPORTS 

Statements shall be provided or made available (in writing or electronically) to Participants as soon as administratively practicable following
each Exercise Date. Each Participant’s statement shall set forth, as of such Exercise Date, that Participant’s Account balance immediately prior to the exercise of his or her Option, the Option Price, the number of whole shares purchased
and his or her remaining Account balance, if any. 
  

	17.	 ADJUSTMENTS OF AND CHANGES IN THE STOCK 

Upon or in contemplation of any reclassification, recapitalization, stock split (including a stock split in the form of a stock dividend), or
reverse stock split; any merger, combination, consolidation, or other reorganization; split-up, spin-off, or any similar extraordinary dividend distribution in respect
of the Common Stock (whether in the form of securities or property); any exchange of Common Stock or other securities of the Corporation, or any similar, unusual or extraordinary corporate transaction in respect of the Common Stock; or a sale of
substantially all the assets of the Corporation as an entirety occurs; then the Committee shall, in such manner, to such extent (if any) and at such time as it deems appropriate and equitable in the circumstances: 

 

	 	(a)	 proportionately adjust any or all of (i) the number and type of shares of Common Stock or the number and
type of other securities that thereafter may be made the subject of Options (including the specific maxima and numbers of shares set forth elsewhere in this Plan), (ii) the number, amount and type of shares (or other securities or property) subject
to any or all outstanding Options, (iii) the Option Price of any or all outstanding Options, or (iv) the securities, cash or other property deliverable upon exercise of any outstanding Options, in each case to the extent necessary to
preserve (but not increase) the level of incentives intended by this Plan and the then-outstanding Options; or 

  

	 	(b)	 make provision for a cash payment in settlement of, or for the substitution or exchange of, any or all
outstanding Options or the cash, securities or property deliverable to the holder of any or all outstanding Options based upon the distribution or consideration payable to holders of the Common Stock upon or in respect of such event.

 The Committee may adopt such valuation methodologies for outstanding Options as it deems reasonable in the event of a
cash or property settlement and, without limitation on other methodologies, may base such settlement solely upon the excess (if any) of the amount payable upon or in respect of such event over the Option Price of the Option. 

In any of such events, the Committee may take such action sufficiently prior to such event to the extent that the Committee deems the action
necessary to permit the Participant to realize the benefits intended to be conveyed with respect to the underlying shares in the same manner as is or will be available to stockholders generally. 

Without limiting the generality of Section 12, any good faith determination by the Committee as to whether an adjustment is required in
the circumstances pursuant to this Section 17, and the extent and nature of any such adjustment, shall be conclusive and binding on all persons. 

  
 12 

	18.	 POSSIBLE EARLY TERMINATION OF PLAN AND OPTIONS 

Upon a dissolution or liquidation of the Corporation, or any other event described in Section 17 that the Corporation does not survive, or
does not survive as a publicly-traded company in respect of its Shares, subject to any provision that has been expressly made by the Board for the survival, substitution, assumption, exchange or other settlement of the Options that are then
outstanding under the Plan, each Offering Period then in progress shall be shortened and a new Exercise Date shall be established by the Board or the Committee (the “New Exercise Date”), as of which date the Plan and any Offering
Period then in progress shall terminate and all then-outstanding Options under this Plan shall be automatically exercised in accordance with the terms hereof; provided, however, that the New Exercise Date shall not be more than ten (10) days
before the date of the consummation of such dissolution, liquidation or other event. The Option Price on the New Exercise Date shall be determined as provided in Section 8(b), and the New Exercise Date shall be treated as the “Exercise
Date” for purposes of determining such Option Price. 
  

	19.	 TERM OF PLAN; AMENDMENT OR TERMINATION 

 

	 	(a)	 Effective Date; Termination. This Plan shall become effective as of the Effective Date. No new Offering
Periods shall commence on or after the tenth (10th) anniversary of the Effective Date, and this Plan shall terminate as of the Exercise Date on or immediately following such date unless sooner
terminated pursuant to Section 4, Section 18 or this Section 19. 

  

	 	(b)	 Board Amendment Authority. The Board may, at any time, terminate or, from time to time, amend, modify or
suspend this Plan, in whole or in part, without notice. Stockholder approval for any amendment or modification shall not be required, except to the extent required by law or applicable stock exchange rules, or required under Section 423 of the
Code in order to preserve the intended tax consequences of this Plan. No Options may be granted during any suspension of this Plan or after the termination of this Plan, but the Committee will retain jurisdiction as to Options then outstanding in
accordance with the terms of this Plan. No amendment, modification, or termination pursuant to this Section 19(b) shall, without written consent of the Participant, affect in any manner materially adverse to the Participant any rights or
benefits of such Participant or obligations of the Corporation under any Option granted under this Plan prior to the effective date of such change. Changes contemplated by Section 17 or Section 18 shall not be deemed to constitute changes
or amendments requiring Participant consent. Notwithstanding the foregoing, the Committee shall have the right to designate from time to time the Subsidiaries whose employees may be eligible to participate in this Plan (including, without
limitation, any Subsidiary that may become such after the Effective Date) and to change the service and other qualification requirements set forth under the definition of Eligible Employee in Section 2 (subject to the requirements of
Section 423(b) of the Code and applicable rules and regulations thereunder). Any such change shall not take effect earlier than the first Offering Period that starts on or after the effective date of such change. Any such change shall not
constitute an amendment to this Plan requiring stockholder approval. 

  
 13 

	20.	 NOTICES 

All notices or other communications by a Participant to the Corporation contemplated by this Plan shall be deemed to have been duly given when
received in the form and manner specified by the Committee (or its delegate) at the location, or by the person, designated by the Committee (or its delegate) for that purpose. 

 

	21.	 CONDITIONS UPON ISSUANCE OF SHARES 

This Plan, the granting of Options under this Plan and the offer, issuance and delivery of shares of Common Stock are subject to compliance
with all applicable federal and state laws, rules and regulations (including but not limited to state and federal securities laws) and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the
Corporation, be necessary or advisable in connection therewith. The person acquiring any securities under this Plan will, if requested by the Corporation and as a condition precedent to the exercise of his or her Option, provide such assurances and
representations to the Corporation as the Committee may deem necessary or desirable to assure compliance with all applicable legal and accounting requirements. 
  

	22.	 PLAN CONSTRUCTION 

 

	 	(a)	 Section 16. It is the intent of the Corporation that transactions involving Options
under this Plan (other than “Discretionary Transactions” as that term is defined in Rule 16b-3(b)(1) promulgated by the Commission under Section 16 of the Exchange Act, to the extent there are
any Discretionary Transactions under this Plan), in the case of Participants who are or may be subject to the prohibitions of Section 16 of the Exchange Act, satisfy the requirements for exemption under Rule
16b-3(c) promulgated by the Commission under Section 16 of the Exchange Act to the maximum extent possible. Notwithstanding the foregoing, the Corporation shall have no liability to any Participant for
Section 16 consequences of Options or other events with respect to this Plan. 

  

	 	(b)	 Section 423. Except as the Committee may expressly provide in the case of one or more
separate offerings or sub-plans adopted pursuant to Section 12(b), this Plan and Options are intended to qualify under Section 423 of the Code. 

 

	 	(c)	 Interpretation. If any provision of this Plan or of any Option would otherwise frustrate or conflict
with the intents expressed above, that provision to the extent possible shall be interpreted so as to avoid such conflict. If the conflict remains irreconcilable, the Committee may disregard the provision if it concludes that to do so furthers the
interest of the Corporation and is consistent with the purposes of this Plan as to such persons in the circumstances. 

  
 14 

	23.	 EMPLOYEES’ RIGHTS 

 

	 	(a)	 No Employment Rights. Nothing in this Plan (or in any Subscription Agreement or other document related
to this Plan) will confer upon any Eligible Employee or Participant any right to continue in the employ or other service of the Corporation or any Subsidiary, constitute any contract or agreement of employment or other service or effect an
employee’s status as an employee at will, nor shall interfere in any way with the right of the Corporation or any Subsidiary to change such person’s compensation or other benefits or to terminate his or her employment or other service,
with or without cause. Nothing contained in this Section 23(a), however, is intended to adversely affect any express independent right of any such person under a separate employment or service contract other than a Subscription Agreement.

  

	 	(b)	 No Rights to Assets of the Corporation. No Participant or other person will have any right, title or
interest in any fund or in any specific asset (including shares of Common Stock) of the Corporation or any Subsidiary by reason of any Option hereunder. Neither the provisions of this Plan (or of any Subscription Agreement or other document related
to this Plan), nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan will create, or be construed to create, a trust of any kind or a fiduciary relationship between the Corporation or any Subsidiary,
on the one hand, and any Participant or other person, on the other hand. To the extent that a Participant or other person acquires a right to receive payment pursuant to this Plan, such right will be no greater than the right of any unsecured
general creditor of the Corporation. No special or separate reserve, fund or deposit will be made to assure any such payment. 

  

	 	(c)	 No Stockholder Rights. A Participant will not be entitled to any privilege of stock ownership as to any
Shares not actually delivered to and held of record by the Participant. Except as expressly required by Section 17, no adjustment will be made for dividends or other rights as a stockholder for which a record date is prior to such date of
delivery. 

  

	24.	 MISCELLANEOUS 

 

	 	(a)	 Governing Law; Severability. This Plan, the Options, Subscription Agreements, and other documents
related to this Plan shall be governed by, and construed in accordance with, the laws of the State of Delaware. If any provision shall be held by a court of competent jurisdiction to be invalid and unenforceable, the remaining provisions of this
Plan shall continue in effect. 

  

	 	(b)	 Captions and Headings. Captions and headings are given to the sections of this Plan solely as a
convenience to facilitate reference. Such captions and headings shall not be deemed in any way material or relevant to the construction of interpretation of this Plan or any provision hereof. 

  
 15 

	 	(c)	 No Effect on Other Plans or Corporate Authority. The adoption of this Plan shall not affect any other
Corporation or Subsidiary compensation or incentive plans in effect. Nothing in this Plan will limit or be deemed to limit the authority of the Board or Committee (i) to establish any other forms of incentives or compensation for employees of
the Corporation or any Subsidiary (with or without reference to the Common Stock), or (ii) to grant or assume options (outside the scope of and in addition to those contemplated by this Plan) in connection with any proper corporate purpose; to
the extent consistent with any other plan or authority. 

  

	 	(d)	 No Effect on Other Compensation. Benefits received by a Participant under an Option granted pursuant to
this Plan shall not be deemed a part of the Participant’s compensation for purposes of the determination of benefits under any other employee welfare or benefit plans or arrangements, if any, provided by the Corporation or any Subsidiary,
except where the Committee or the Board (or the Board of Directors of the Subsidiary that sponsors such plan or arrangement, as applicable) expressly otherwise provides in writing. 

 

	25.	 STOCKHOLDER APPROVAL 

Notwithstanding anything else contained herein to the contrary, the effectiveness of this Plan is subject to the approval of this Plan by the
stockholders of the Corporation within twelve months after the Effective Date. No Shares shall be issued or delivered under this Plan until such stockholder approval is obtained and, if such stockholder approval is not obtained within such
twelve-month period of time, all Contributions credited to a Participant’s Account hereunder shall be refunded to such Participant (without interest) as soon as practicable after the end of such twelve-month period. 

 

	26.	 TAX WITHHOLDING 

Notwithstanding anything else contained herein to the contrary, the Corporation may deduct from a Participant’s Account balance as of an
Exercise Date, before the exercise of the Participant’s Option is given effect on such date, the amount of any taxes which the Corporation reasonably determines it or any Subsidiary may be required to withhold with respect to such exercise. In
such event, the maximum number of whole shares of Common Stock subject to such Option (subject to the other limits set forth in this Plan) shall be purchased at the Option Price with the balance of the Participant’s Account (after reduction for
the tax withholding amount). 
 Should the Corporation for any reason be unable, or elect not to, satisfy its or any Subsidiary’s tax
withholding obligations in the manner described in the preceding paragraph with respect to a Participant’s exercise of an Option, or should the Corporation or any Subsidiary reasonably determine that it or an affiliated entity has a tax
withholding obligation with respect to a disposition of shares acquired pursuant to the exercise of an Option prior to satisfaction of the holding period requirements of Section 423 of the Code or at any other time in respect of a
Participant’s participation in this Plan, the Corporation or Subsidiary, as the case may be, shall have the right at its option to (i) require the Participant to pay or provide for payment of the amount of any taxes which the

  
 16 

 
Corporation or Subsidiary reasonably determines that it or any affiliate is required to withhold with respect to such event or (ii) deduct from the Participant’s Account or from any
amount otherwise payable to or for the account of the Participant the amount of any taxes which the Corporation or Subsidiary reasonably determines that it or an affiliate is required to withhold with respect to such event. 

 

	27.	 NOTICE OF SALE 

Any person who has acquired shares under this Plan shall give prompt written notice to the Corporation of any sale or other transfer of the
shares if such sale or transfer occurs (1) within the two-year period after the Grant Date of the Offering Period with respect to which such shares were acquired, or (2) within the twelve-month
period after the Exercise Date of the Offering Period with respect to which such shares were acquired. 

  
 17Exhibit 10.1

 

EXECUTION VERSION

 

 

 

 

TRANSITION SERVICES AGREEMENT

 

BY AND BETWEEN

 

IAC/INTERACTIVECORP

 

AND

 

IAC HOLDINGS, INC.

 

DATED AS OF June 30,
2020

 

 

 

    	 	 	 

    	 

    

 

Table of Contents

 

	 	Page
	 	 
	ARTICLE I Definitions	1
	 	 
	Section 1.1 Defined Terms	1
	Section 1.2 Interpretation; Schedules	3
	 	 
	ARTICLE II Agreement to Provide and Receive Services	3
	 	 
	Section 2.1 Provision of Services	3
	Section 2.2 Shared Contracts	5
	Section 2.3 Access	5
	Section 2.4 Books and Records	5
	 	 
	ARTICLE III Services; Payment; Independent Contractor	6
	 	 
	Section 3.1 Service Quality	6
	Section 3.2 Payment	7
	Section 3.3 Sales Taxes	7
	Section 3.4 Uses of Services	7
	Section 3.5 No Violation of Laws	8
	Section 3.6 Provision of Services	8
	 	 
	ARTICLE IV Term of Services	8
	 	 
	Section 4.1 Term	8
	Section 4.2 Term Extensions	9
	 	 
	ARTICLE V Force Majeure	9
	 	 
	Section 5.1 Force Majeure Event	9
	Section 5.2 Consequences of Force Majeure Event	10
	 	 
	ARTICLE VI Limitation of Liability; Indemnification	10
	 	 
	Section 6.1 Consequential and Other Damages	10
	Section 6.2 Limitation of Liability	10
	Section 6.3 Indemnity	10
	Section 6.4 Notice of Claims	11
	Section 6.5 Indemnification Procedures	11
	Section 6.6 Obligation to Correct or Reperform	11

 

    	 	 i	 

    	 

    

 

	ARTICLE VII Termination	11
	 	 
	Section 7.1 Termination	11
	Section 7.2 Breach of Agreement	12
	Section 7.3 Sums Due; Effect of Termination	12
	Section 7.4 Survival	13
	 	 
	ARTICLE VIII Miscellaneous	13
	 	 
	Section 8.1 Ownership of Intellectual Property and Work Product	13
	Section 8.2 Incorporation of Transaction Agreement Provisions	14

 

    	 	 ii	 

    	 

    

 

TRANSITION SERVICES AGREEMENT

 

This TRANSITION SERVICES AGREEMENT, dated
as of June 30, 2020, is entered into by and between IAC/InterActiveCorp , a Delaware corporation (“New Match”),
and IAC Holdings, Inc., a Delaware corporation (“New IAC”). New Match and New IAC are sometimes hereinafter
collectively referred to as the “Parties” and individually as a “Party.”

 

RECITALS:

 

WHEREAS, New Match and New IAC are parties
to that certain Transaction Agreement, dated as of December 19, 2019, as amended on April 28, 2020 and June 22,
2020, by and among New Match, Match Group, Inc., a Delaware corporation (“Match”), Valentine Merger Sub
LLC, a Delaware limited liability company (“New Match Merger Sub”) and New IAC (the “Transaction Agreement”);
and

 

WHEREAS, the Transaction Agreement provides
that, in connection with the consummation of the transactions contemplated thereby, the Parties shall enter into this Agreement
to provide for certain services and other arrangements between New IAC and/or the other members of the New IAC Group, on the one
hand, and New Match and/or the other members of the New Match Group, on the other hand, all as more fully described herein.

 

NOW, THEREFORE, in consideration of the
foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the Parties hereby agree as follows:

 

Article I

 

Definitions

 

Section 1.1     Defined
Terms. For the purposes of this Agreement, (a) unless otherwise defined herein capitalized terms used herein shall
have the meanings assigned to them in the Transaction Agreement and (b) the following terms shall have the meanings
hereinafter specified:

 

“Agreement”
shall mean this Transition Services Agreement, including the Schedules hereto, as the same may be amended, supplemented or otherwise
modified from time to time.

 

“Fee” shall
have the meaning set forth in Section 2.1(c).

 

“Force Majeure Event”
shall have the meaning set forth in Section 5.1.

 

    	 	1	 

    	 

    

 

“IAC Business”
shall mean any line of business that was carried out by any member of the IAC Group during the Reference Period other than the
Match Business.

 

“IAC Provider”
shall have the meaning set forth in Section 2.1(a).

 

“IAC Services”
shall have the meaning set forth in Section 2.1(a).

 

“Intellectual Property”
means any and all common law or statutory rights anywhere in the world arising under or associated with: (i) patents, patent
applications, statutory invention registrations, registered designs, and similar or equivalent rights in inventions and designs,
and all rights therein provided by international treaties and conventions; (ii) copyrights and any other equivalent rights
in works of authorship (including rights in software as a work of authorship) and any other related rights of authors; (iii) trade
secrets and industrial secret rights, and rights in know-how, data, and confidential or proprietary business or technical information
that derives independent economic value, whether actual or potential, from not being known to other persons; and (iv) other
similar or equivalent intellectual property rights anywhere in the world.

 

“Match Business”
shall mean any line of business that was carried out by the Match Group during the Reference Period.

 

“Match Provider”
shall have the meaning set forth in Section 2.1(a).

 

“Match Services”
shall have the meaning set forth in Section 2.1(a).

 

“New IAC”
shall have the meaning set forth in the preamble of this Agreement.

 

“New Match”
shall have the meaning set forth in the preamble of this Agreement.

 

“Omitted Services”
shall have the meaning set forth in Section 2.1(b).

 

“Parties”
and “Party” shall have the meaning set forth in the preamble of this Agreement.

 

“Pricing Addendum”
has the meaning set forth in Section 3.2.

 

“Provider”
shall have the meaning set forth in Section 2.1(a).

 

“Recipient”
shall mean New Match or any of the other members of the New Match Group, in its capacity as a recipient of Services hereunder,
as described on Schedule A, or New IAC or any of the other members of the New IAC Group, in its capacity as a recipient
of Services hereunder, as described on Schedule B.

 

    	 	2	 

    	 

    

 

“Reference Period”
shall mean the twelve (12)-month period preceding the date of the Transaction Agreement.

 

“Sales Taxes”
shall have the meaning set forth in Section 3.3.

 

“Services”
shall have the meaning set forth in Section 2.1(a).

 

“Shared
Contracts” shall have the meaning set forth in Section 2.2(a).

 

“Term” shall
have the meaning set forth in Section 4.1.

 

“Transaction Agreement”
shall have the meaning set forth in the recitals of this Agreement.

 

Section 1.2     Interpretation;
Schedules. When a reference is made in this Agreement to a Section or a Schedule, such reference shall be to a
Section of, or a Schedule to, this Agreement unless otherwise indicated. Whenever the words “include”, “includes”
or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”
The words “hereof,” “herein” and “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The definitions contained
in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to
the feminine and neuter genders of such term. Any agreement, instrument or statute defined or referred to herein shall mean such
agreement, instrument or statute as from time to time amended, modified or supplemented. References to a Person are also to its
permitted successors and assigns and, in the case of an individual, to his or her heirs and estate, as applicable.

 

Article II

 

Agreement to Provide and Receive Services

 

Section 2.1     Provision
of Services.

 

(a)            On
the terms and subject to the conditions contained herein, New IAC shall provide, or shall cause the other members of the New IAC
Group (such members of the New IAC Group, together with New IAC, collectively referred to as the “IAC Providers”)
to provide, to New Match (or another member of the New Match Group designated by New Match) the services listed on Schedule
A (the “IAC Services”). On the terms and subject to the conditions contained herein, New Match shall provide,
or shall cause the other members of the New Match Group (such members of the New Match Group, together with New Match, collectively
referred to as the “Match Providers” and, together with the IAC Providers, the “Providers”)
to provide, to New IAC (or another member of the New IAC Group designated by New IAC) the services listed on Schedule B
(the “Match Services” and, together with the IAC Services and any Omitted Services added to Schedule A
or Schedule B pursuant to paragraph (b) below, the “Services”).

 

    	 	3	 

    	 

    

 

(b)            In
the event that New Match or New IAC desires to have the applicable Provider provide services that are not set out on Schedule
A or Schedule B (as applicable) (other than because it was specifically agreed that such services would not be provided
under this Agreement) but were provided by such Provider to the Match Business or the IAC Business (as applicable) during the
Reference Period (“Omitted Services”), and such Recipient requests, within ninety (90) days following the Closing
Date, that such Provider provide such Omitted Services, the Parties shall negotiate in good faith to attempt to reach mutually
agreed terms for the provision of such Omitted Service. If agreement is reached, the Parties shall promptly enter into an amendment
to this Agreement amending Schedule A or Schedule B (as applicable) to reflect such Omitted Service and such Omitted
Service shall be deemed to be part of this Agreement and the Services from and after the date of such amendment.

 

(c)            Each
Service shall be provided to a Recipient in exchange for the fee set forth on Schedule A or Schedule B (as applicable)
with respect to such Service (a “Fee”), which Fee shall be equal to the Provider’s calculation, based
upon commercially reasonable metrics, of the actual cost, without mark-up, of providing the Service to the Match Business or the
IAC Business (as applicable). Except to the extent included in the Fees or as otherwise set forth in Schedule A or Schedule
B (as applicable), Recipient shall reimburse Provider for any reasonable incremental and documented out-of-pocket expenses
incurred by Provider’s personnel in connection with performing the Services. Except as set forth in Schedule A or
Schedule B (as applicable), for any Service where the Fee for the Services is expressed as a specified dollar amount per
month, if such Services are provided for only a portion of the month, including as a result of circumstances described in Section 3.1(a) or
Article V, the Fees for such Services shall be prorated to reflect the number of days such Services were actually
provided during such month on the basis of a thirty (30)-day month. Notwithstanding the foregoing, neither New Match nor any of
its Subsidiaries shall be required to compensate or reimburse any IAC Provider for any services rendered hereunder in connection
with any matters (including return preparation, audit and participation in administrative or judicial proceedings) related to
Taxes for which New IAC is responsible under the Tax Matters Agreement.

 

(d)            Each
Recipient and Provider providing Services to it hereunder will use good-faith efforts to reasonably cooperate with each other
in all matters relating to the provision and receipt of Services. Such cooperation shall include obtaining all consents, licenses
or approvals necessary to permit each such Party to perform its obligations with respect to the other Party; provided, however,
under no circumstances shall any Provider be required to make any payments (other than de minimis costs and expenses) to any third
party in respect of any such consents, licenses or approvals. If, with respect to a Service, the Parties, despite their efforts,
are unable to obtain such required consents, licenses or approvals, Provider will use commercially reasonable efforts to perform
the Service in a manner that does not require such consent, license or approval.

 

    	 	4	 

    	 

    

 

Section 2.2     Shared
Contracts.

 

(a)            For
the term of this Agreement, with respect to any Contract set forth on Schedule C (the “Shared Contracts”),
the Parties agree to cause, subject to Section 2.1(d), the applicable members of the New IAC Group and the applicable
members of the New Match Group to, to the extent reasonably requested by New Match or New IAC, respectively, to use commercially
reasonable efforts to (i) cause the applicable third party counterparty thereto to enter into one or more replacement Contracts
that would allow the applicable members of the New IAC Group and applicable members of the New Match Group to obtain substantially
similar benefits and have substantially similar obligations as under such Shared Contract or (ii) seek to divide or otherwise
amend any such Shared Contract in a manner that would allow the party that is not party to such Shared Contract to continue to
obtain the benefits of and have the obligations under such Shared Contract (including by working with the applicable third party
or third parties to such Contracts to accomplish the foregoing).

 

(b)            The
Parties agree to take the actions specified in Schedule D with respect to the Contract set forth therein.

 

Section 2.3     Access.
Each Party shall make available on a timely basis to the other Party all information and materials reasonably requested by the
other Party to the extent reasonably necessary for the purposes of providing and receiving the Services. No Provider shall be
liable for any delay or deficiency in the Services to the extent caused by the failure of such information or materials to be
provided on a timely basis or inaccuracy or deficiency in such information or materials. A Recipient shall, upon reasonable notice,
give the applicable Provider reasonable access, during regular business hours and at such other times as are reasonably required,
to the relevant premises to the extent reasonably necessary for the purposes of providing Services.

 

Section 2.4     Books
and Records. Each Party shall keep customary books and records of the Services provided. Upon Recipient’s reasonable
request, each Provider shall make such books and records and documentation (in each case, solely to the extent relating to the
Services provided to the applicable Recipient) available to an independent third party auditor of the such Recipient’s choosing
and at such Recipient’s sole expense (i) upon reasonable prior written notice, during normal business hours,
(ii) subject to the internal policies and procedures of the Provider generally applicable to third party auditors
and other reasonably imposed security procedures and limitations and (iii) subject to compliance with the confidentiality
obligations of the Parties under this Agreement and the Transaction Agreement. In recognition that audits are disruptive and should
be avoided if possible, such independent third party audits shall be performed (x) in a manner that will not unreasonably
interfere with the normal business operations of the Provider and otherwise with a minimum of disruption by such independent third
party and (y) no more than once for each given Service.

 

    	 	5	 

    	 

    

 

Article III

 

Services; Payment; Independent Contractor

 

Section 3.1     Service
Quality.

 

(a)            Unless
otherwise agreed in writing by the Parties, Provider shall provide Services and, with respect to Services provided by third parties,
shall use its commercially reasonable efforts to cause such Services to be provided, in a manner and quality that are consistent
with the provision of such Services or other similar services to the IAC Business and the Match Business during the Reference
Period, and in any event in compliance with applicable Law. Without limiting a Provider’s obligation to correct or reperform
under Section 6.6, if the quality or performance of any Service provided by a Provider hereunder falls materially
below the standard required by this Section 3.1(a), such substandard quality or performance shall be addressed through
the dispute resolution process set forth in Article XII of the Transaction Agreement.

 

(b)            Each
Recipient acknowledges that the applicable Provider is not in the business of providing the Services and is providing the Services
to such Recipient solely for the purpose of facilitating the transactions contemplated by the Transaction Agreement. Each Provider
shall act under this Agreement solely as an independent contractor and not as an agent, employee or joint venture counterparty
of any Recipient. All employees and representatives providing the Services shall be under the direction, control and supervision
of the applicable Provider (and not of the applicable Recipient), and such Provider shall have the sole right to exercise all
authority with respect to such employees and representatives and in no event shall such employees and representatives be deemed
to be employees or agents of such Recipient.

 

(c)            EXCEPT
AS EXPRESSLY SET FORTH HEREIN, NO PROVIDER MAKES ANY OTHER REPRESENTATIONS, STATEMENTS, COVENANTS OR WARRANTIES WITH RESPECT TO
THE SERVICES, WHETHER EXPRESS OR IMPLIED, AND ALL IMPLIED WARRANTIES, INCLUDING THOSE RELATING TO MERCHANTABILITY AND FITNESS
FOR A PARTICULAR PURPOSE, ARE HEREBY DISCLAIMED.

 

    	 	6	 

    	 

    

 

Section 3.2     Payment.
Invoices shall be delivered within 15 calendar days after the end of each month by a Provider to the applicable Recipient for
Services delivered during such month and for any other sums payable under Sections 2.1(c), 2.1(d), 3.3 and
7.3. Each such invoice shall set forth a brief description of such Services, the allocation of personnel costs related
to providing such Services and the amounts charged therefor. Except as the applicable Provider and Recipient may agree or as set
forth on Schedule A, Schedule B, or Schedule D, as applicable, unless subject to dispute in accordance with
the last sentence of this Section 3.2, each invoice shall be payable in immediately available funds thirty (30) days
after the date thereof. Any amount not paid within such thirty (30)-day period shall be subject to late charges, after Provider
has provided written notice of late payment and Recipient has not cured such late payment within three (3) Business Days
of such written notice, at the rate of prime rate (as published in The Wall Street Journal as of the date of payment) plus
two percent (2%) (or the maximum legal rate, whichever is lower) from the due date until paid. All payments under this Agreement
shall be made by electronic funds transfer of immediately available funds to the bank account specified by the Party receiving
the payment. Recipient may dispute any material errors set forth in such invoice, and the Parties agree to work in good faith
to resolve any such disputes for at least ten (10) Business Days, and if the Parties are not able to resolve such dispute
within such ten (10)-Business Day period, it shall be resolved in accordance with the dispute resolution process set forth in
Article XII of the Transaction Agreement.

  

Section 3.3     Sales
Taxes. Any federal, state, local or foreign sales, use, value added, goods and services, or other similar Taxes sustained,
incurred, or levied with respect to the sale, performance, provision or delivery of Services (“Sales Taxes”)
shall be payable by a Recipient to a Provider in accordance with Section 3.2. The amounts set forth for each Service
on Schedule A or Schedule B (as applicable) do not include Sales Taxes, and such Taxes shall be separately stated
on the relevant invoice to Recipient. Each Provider shall be solely responsible for payment of all such Sales Taxes to the applicable
Governmental Authority on Services provided by such Provider. Each Provider shall timely prepare and file all Tax returns required
to be filed by it with any Governmental Authority with respect to such Sales Taxes and, in the case of value-added taxes, timely
provide Recipient with valid value-added tax invoices in accordance with applicable Law. Notwithstanding the foregoing, no Recipient
shall be obligated to pay Sales Taxes to the extent that such Recipient has provided valid exemption certificates or other applicable
documentation that would eliminate or reduce the obligation to collect or pay such Sales Taxes.

 

Section 3.4     Uses
of Services. No Recipient shall resell any Services to any Person whatsoever or permit the use of the Services by any
Person other than in connection with such Recipient’s operation of its business substantially as conducted during the Reference
Period.

 

    	 	7	 

    	 

    

 

Section 3.5     No
Violation of Laws. Neither Provider nor any third-party service provider shall be required to provide all or any part
of any particular Service to the extent that providing such Service, would require Provider to violate any applicable Laws.

 

Section 3.6     Provision
of Services. With respect to any Service, a Provider may, upon ten (10) Business Days’ prior written notice
to the applicable Recipient and upon such Recipient’s prior written consent, which shall not be unreasonably withheld or
delayed, (i) outsource such Service to a third-party provider; (ii) in-source such Service being provided
by a third-party provider; (iii) replace a third-party provider of such Service with a new third-party provider; or
(iv) terminate or renegotiate the material terms of an agreement pursuant to which a third-party provider shall provide
such Service; provided, that (x) the terms (including pricing) pursuant to which such Service will be provided
shall be on terms no less favorable to the Recipient than those set forth in Schedule A or Schedule B (as applicable)
and (y) with respect to clauses (i) and (iii), (A) such third party is in the business of providing
such Service, (B) such Provider shall remain liable for the performance by such third party of all of its obligations
hereunder with respect to such Service, and (C) such Provider shall notify each third-party provider performing any
Service for the Recipient of the confidentiality restrictions set forth herein and shall cause such third-party provider to comply
with confidentiality restrictions at least as stringent as those set forth herein.

 

Article IV

 

Term of Services

 

Section 4.1     Term.
The provision of each Service shall commence on the Closing Date and shall terminate on the last day that such Service, as set
forth in Schedule A or Schedule B, is required to be provided (the period for which any Service is provided, including
any extensions of the time period for the provision of such Service that may be agreed by the Parties hereto in writing consistent
with Section 4.2, the “Term”), but in no event beyond twelve (12) months from the Closing Date;
provided, that a Recipient may cancel any Service upon sixty (60) days’ prior written notice of cancellation;
and provided, further, that, a Provider may (i) immediately terminate any individual Service provided
to a Recipient in the event that the Recipient fails to make payments for such Service under Section 3.2 and has not
cured such failure within thirty (30) days of written notice of such failure from the applicable Provider, or (ii) upon
sixty (60) days written notice, terminate any Service provided to a Recipient at such time as the Provider no longer provides
the same Service to itself for its own account; and provided, further, that, (x) Provider may not terminate
the Contract set forth in Schedule D pursuant to the immediately foregoing clause (ii), (y) during the 60 day
period prior to any termination pursuant to the foregoing clause (ii) with respect to a Service provided pursuant to a Contract
with a third party, Provider agrees, upon the reasonable request of Recipient, to use commercially reasonable efforts to assist
the Recipient with obtaining such underlying Service from such third party directly and (z) New Match may terminate any Service
provided by an employee specified on Schedule B immediately upon such employee’s termination, resignation or death
or disability. Upon termination of any Service pursuant to this Article IV, a Recipient’s obligation to pay
Provider for such Service shall cease except (i) as set forth in Section 7.3, and (ii) that,
to the extent that the Service is terminated before the end of the Service term, Recipient shall pay for (A) any liability
or costs contracted for by Provider with third parties on behalf of Recipient in connection with such Service, and (B) any
reasonable and documented out-of-pocket “wind-down costs” incurred by Provider resulting from such early termination,
provided, however, that any such costs described in clauses (A) and (B) that are not set forth on Schedule
A or Schedule B as applicable shall be made known by Provider to Recipient at Recipient’s request.

 

    	 	8	 

    	 

    

 

Section 4.2     Term
Extensions. To the extent a Recipient requires an extension to the Term of any Service outlined in Schedule A
or Schedule B, such Recipient may, with at least thirty (30) days’ written notice to the applicable Provider prior
to the end of the Term of such Service as set forth in Schedule A or Schedule B, extend the Term of such Service (x) for
up to three (3) months or (y) as set forth in the Schedule A or Schedule B hereto, in each case, without additional
cost (other than the fees that are to be charged for such Service pursuant to this Agreement during the extended term). Any terms,
conditions or costs or fees to be paid by the Recipient for Services provided during an extended term will be on terms mutually
acceptable to such Provider and Recipient. Unless the Parties mutually agree in writing, the full Term of any Service, as extended
pursuant to this Section 4.2, shall not extend beyond twelve (12) months from the Closing Date.

 

Article V

 

Force Majeure

 

Section 5.1     Force
Majeure Event. Neither Party shall be liable for any interruption, delay or failure to perform any obligation under
this Agreement resulting from causes beyond its reasonable control (or beyond the reasonable control of any Person acting on its
behalf), including any strikes, lockouts, acts of any government, riot, insurrection or other hostilities, acts of the public
enemy or terrorism, embargo, fuel or energy shortage, fire, flood, earthquake, tsunami, or acts of God (any such event, a “Force
Majeure Event”). In the event of a Force Majeure Event, each Party’s affected obligations hereunder shall be postponed
for such time as its performance is suspended or delayed on account thereof. No Fees shall be incurred by a Recipient for Services
that are suspended or delayed for the duration of such suspension or delay. A Recipient shall have the right, but not the obligation,
to obtain replacement services for the duration of the Force Majeure Event from a third-party provider at its own cost.

 

    	 	9	 

    	 

    

 

Section 5.2     Consequences
of Force Majeure Event. A Provider shall notify the applicable Recipient upon learning of the occurrence of a Force
Majeure Event. If the Force Majeure Event affects the provision of Services by such Provider hereunder, at the option of such
Recipient, the Term of any affected Service shall be tolled until such Service is resumed in accordance with the standards set
forth on Section 3.1(a). Upon the cessation of the Force Majeure Event, such Provider shall use commercially reasonable
efforts to resume its performance of any affected Service in accordance with the standards set forth in Section 3.1(a) with
the least possible delay. If any Service is interrupted or suspended for more than thirty (30) consecutive days, a Recipient
may immediately terminate the affected Service, in whole or in part, upon written notice to the applicable Provider.

 

Article VI

 

Limitation of Liability; Indemnification

 

Section 6.1     Consequential
and Other Damages. In no event shall either New Match or New IAC, or any of the members of the New Match Group or New
IAC Group, or any of its or their shareholders, owners, officers, directors, employees, agents or representatives, be liable,
whether in contract, in tort (including negligence and strict liability), breach of warranty or otherwise, for any special, indirect,
incidental, punitive, exemplary, consequential or similar damages which in any way arise out of, relate to, or are a consequence
of, its performance or nonperformance hereunder, or the provision of or failure to provide any Service hereunder, including with
respect to loss of profits, business interruptions or claims of customers.

 

Section 6.2     Limitation
of Liability. Except to the extent arising from such Party’s gross negligence or willful misconduct, in no event
shall the aggregate damages for which each Party shall be liable in connection with or as a result of this Agreement or the Services
exceed the aggregate amount of Fees paid or to be paid to such Party as a Provider under this Agreement with regard to those Services
giving rise to such liability (or, in the event of a breach of the Agreement as a whole, with regard to all Services on Schedule
A or Schedule B (as applicable)), with such amount to be calculated as of the end of the applicable Terms of such Services.

 

Section 6.3     Indemnity.

 

(a)            Subject
to the limitations set forth in Section 6.1 and Section 6.2, New IAC shall indemnify, defend and hold
harmless New Match and the other applicable members of the New Match Group from and against all Liabilities incurred by New Match
and such other applicable members of the New Match Group arising out of or resulting from (i) any material breach
or default in performance by New IAC of any obligation under this Agreement or (ii) the gross negligence or willful
misconduct of New IAC, any of the other members of the New IAC Group or their respective employees, directors, officers or agents
in connection with the performance of the Services to be performed by such party hereunder or in connection with the receipt of
the Services to be received by such party hereunder.

 

    	 	10	 

    	 

    

 

(b)            Subject
to the limitations set forth in Section 6.1 and Section 6.2, New Match shall indemnify, defend and hold
harmless New IAC and the other applicable members of the New IAC Group from and against all Liabilities incurred by New IAC and
such other members of the New IAC Group arising out of or resulting from (i) any material breach or default in performance
by New Match of any obligation under this Agreement or (ii) the gross negligence or willful misconduct of New Match,
any of the other members of the New Match Group or their respective employees, directors, officers, agents in connection with
the performance of the Services to be performed by such party hereunder or in connection with the receipt of the Services to be
received by such party hereunder.

 

Section 6.4     Notice
of Claims. Notice of any claim under this Article VI must be delivered in writing and received by the Party
allegedly liable therefor within one hundred and eighty (180) days after the date of the action, service or event which gave rise
to the claim or be forever barred. Such claim must describe the action or service and situation giving rise to the claim in reasonable
detail and specify the amount of the Liabilities claimed. Any action based on any such claim must be commenced within one year
of such date of expiration or earlier termination, or be forever barred.

 

Section 6.5     Indemnification
Procedures. The indemnification procedures set forth in Sections 10.04 through 10.08 of the Transaction
Agreement shall apply to indemnification claims under this Agreement mutatis mutandis.

 

Section 6.6     Obligation
to Correct or Reperform. In the event of any breach of this Agreement by a Provider resulting from any error or defect
in providing any Service, such Provider shall, at Recipient’s request and without the payment of any further Fees by the
Recipient, use its commercially reasonable efforts to correct, or cause to be corrected, such error or defect in all material
respects, or reperform, or cause to be reperformed, such Service in all material respects, as promptly as practicable.

 

Article VII

 

Termination

 

Section 7.1     Termination.
This Agreement and the obligation to provide the Services contemplated hereunder shall terminate on the latest to occur of (a) the
date on which no Services are required to be provided as indicated on Schedule A and Schedule B, (b) the
date the Contract set forth on Schedule D has been terminated or expires and (c) the date on which this Agreement
is terminated in whole pursuant to Section 7.2; provided that, in each case, no such termination shall relieve any
Party of any liability for any breach of any provision of this Agreement prior to the date of such termination.

 

    	 	11	 

    	 

    

 

Section 7.2     Breach
of Agreement. Subject to Article VI, and without limiting a Party’s obligations under Section 4.1,
if either Party shall cause or suffer to exist any material breach of any of its obligations under this Agreement, including,
but not limited to, any failure to perform any Service (except to the extent excused pursuant to Article V) or to
make undisputed payments when due (and, upon resolution of any disputed amounts in accordance with the dispute resolution process
set forth in Article XII of the Transaction Agreement) in accordance with Section 3.2, and such Party does not
cure such breach within thirty (30) days after receiving written notice thereof from the non-breaching Party , the non-breaching
Party may terminate this Agreement, in whole or in part, including the provision of Services pursuant hereto, immediately by providing
written notice of termination. In addition, either Party may terminate this Agreement, effective immediately upon written notice,
if the other Party commences a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect
to itself or its debts under any bankruptcy, insolvency or other similar Law now or hereafter in effect or seeks the appointment
of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, or consents
to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding
commenced against it, or makes a general assignment for the benefit of creditors or takes any corporate action to authorize any
of the foregoing.

 

Section 7.3     Sums
Due; Effect of Termination. In the event of a termination of this Agreement, each Provider shall be entitled to the
immediate payment of, and such Recipient shall within three (3) business days, pay to such Provider, all undisputed accrued
amounts for Services, Sales Taxes and other amounts due from such Recipient to such Provider under this Agreement as of the date
of termination and, upon resolution of any disputed amounts in accordance with Section 3.2 and, if applicable, Article XII
of the Transaction Agreement, such disputed amounts. In the event of a termination of this Agreement or any Services, each
Party shall promptly (i) return to the other Party any of the other Party’s equipment and return or use commercially
reasonable efforts to destroy materials containing the other Party’s Information, in each case, to the extent such equipment
or materials are in such Party’s possession or control and that are not required for use in connection with any non-terminated
Services and (ii) assist with the transfer of records and migration of historical data in connection with the transition
of any terminated Service from the hardware, software, network and telecommunications equipment and internet-related information
technology infrastructure of such Party to such equipment and infrastructure of the other Party. Any costs and expenses incurred
by a Provider in connection with the implementation of any such transfer shall be borne by the applicable Recipient.

 

    	 	12	 

    	 

    

 

Section 7.4     Survival.
Upon termination of any Service in accordance with this Agreement, Provider shall have no further obligation to provide such terminated
Service. Notwithstanding anything herein to the contrary, Section 1.1, Articles VI and VIII and Section 7.3
and this Section 7.4 shall survive any termination of this Agreement.

 

Article VIII

 

Miscellaneous

 

Section 8.1     Ownership
of Intellectual Property and Work Product.

 

(a)            Except
as otherwise expressly provided in this Agreement or the Transaction Agreement, each of the Parties and their respective Affiliates
shall retain all right, title and interest in and to their respective Intellectual Property and any and all improvements, modifications,
derivative works, additions or enhancements thereof. No license or right, express or implied, is granted under this Agreement
by either Party or such Party’s Affiliates in or to their respective Intellectual Property, except that, solely to the extent
required for the provision or receipt of the Services in accordance with this Agreement, each Party (“Licensor”),
for itself and on behalf of its Affiliates, hereby grants to the other (“Licensee”) (and the Licensee’s
Affiliates) a non-exclusive, revocable (solely as expressly provided in this Agreement), non-transferable, non-sublicensable (except
to third parties as required for the provision or receipt of Services, but not for their own independent use), royalty-free, worldwide
license during the term of this Agreement to use such Intellectual Property of the Licensor in connection with this Agreement,
but only to the extent and for the duration necessary for the Licensee to provide or receive the applicable Service under this
Agreement. Upon the expiration of such term, or the earlier termination of such Service in accordance with this Agreement, the
license to the relevant Intellectual Property shall terminate; provided, that all licenses granted hereunder shall terminate
immediately upon the expiration or earlier termination of this Agreement in accordance with the terms hereof. Upon the expiration
or termination of this Agreement or an applicable Service, the Licensee shall cease use of the Licensor’s Intellectual Property
and shall return or destroy at the Licensor’s request all Information or embodiments of Intellectual Property provided in
connection with this Agreement. The foregoing license is subject to any licenses granted by others with respect to Intellectual
Property not owned by the Parties or their respective Affiliates.

 

(b)            Each
Provider acknowledges and agrees that it will acquire no right, title or interest (including any license rights or rights of use)
to any work product resulting from the provision of Services hereunder for the Recipient’s exclusive use and such work product
shall remain the exclusive property of the Recipient and (ii) each Recipient acknowledges and agrees that it will acquire
no right, title or interest (other than a non-exclusive, worldwide right of use) to any work product resulting from the provision
of Services hereunder that is not for the Recipient’s exclusive use and such work product shall remain the exclusive property,
subject to license, of the Provider.

 

    	 	13	 

    	 

    

 

Section 8.2     Incorporation
of Transaction Agreement Provisions. Section 7.08 (Public Announcements), Section 11.08 (Confidentiality),
Article XII (Dispute Resolution), 13.02 (Notices), Section 13.04 (Counterparts), Section 13.05
(Entire Agreement; Coordination), Section 13.06(a) (Construction), Section 13.06(c) (Construction),
Section 13.07 (Signatures), Section 13.08 (Assignment), Section 13.09 (Third Party Beneficiaries),
Section 13.11 (Governing Law; Jurisdiction), Section 13.13 (Severability), Section 13.14 (Waiver
of Defaults; Conflicts) and Section 13.15 (Amendments) of the Transaction Agreement are incorporated by reference
herein, mutatis mutandis.

 

[Remainder of
page intentionally left blank]

 

    	 	14	 

    	 

    

 

IN WITNESS WHEREOF, each of the Parties
has caused this Agreement to be executed by its duly authorized officer, in each case as of the date first above written.

 

	 	IAC/INTERACTIVECORP
	 	 	 
	 	 	 
	 	By:	/s/ Gregg Winiarski
	 		Name: Gregg Winiarski
	 	 	Title:   EVP and General Counsel
	 	 	 
	 	 	 
	 		IAC HOLDINGS, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Joanne Hawkins
	 		Name: Joanne Hawkins
	 	 	Title:   SVP and Deputy General
	 		Counsel

 

[Signature Page to Transition Services
Agreement]

 

    	 	 	 

    	 

    

 

Schedule A

 

IAC Services

 

[Omitted]

 

    	 	 	 

    	 

    

 

Schedule B

 

Match Services

 

[Omitted]

 

    	 	 	 

    	 

    

 

Schedule C

 

Shared Contracts

 

[Omitted]

 

    	 	 	 

    	 

    

 

Schedule D

 

[Omitted]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00311-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00311-of-00352.parquet"}]]