Document:

Exhibit 10.7

    

    

    ASSUMPTION AND JOINDER AGREEMENT

    TO

    TAX SHARING AGREEMENT

    

    

    This ASSUMPTION AND JOINDER AGREEMENT TO TAX SHARING AGREEMENT is made and entered into as of April 15, 2019 (the “Assumption and Joinder Agreement”), by and among Expedia Group, Inc., a Delaware corporation (“Parent”),

        Liberty Expedia Holdings, Inc., a Delaware corporation (the “Company”), and Qurate Retail, Inc., a Delaware corporation (f/k/a Liberty Interactive Corporation) (“Qurate Retail”).  Capitalized terms used but not defined herein will have the meaning ascribed thereto in the Merger Agreement (as defined below).

    

    

    W I T N E S
            S E T H

          

    

    

    WHEREAS, Qurate Retail and the Company are parties to the Tax Sharing Agreement, dated as of November 4, 2016 (the “Tax Sharing Agreement”);

    

    

    WHEREAS, simultaneously with the execution of this Assumption and Joinder Agreement, Parent, LEMS II Inc., a Delaware corporation and an
        indirect wholly owned subsidiary of Parent (“Merger Sub”), LEMS I LLC, a Delaware limited liability company and a wholly owned subsidiary of Parent (“Merger LLC”), and the Company are entering into the Agreement and Plan of Merger, dated as of April 15, 2019 (as amended pursuant to its terms, the “Merger Agreement”), pursuant to which, upon the terms and subject to the conditions set forth therein, (i) Merger Sub will merge (the “Merger”) with and into the Company, with the Company surviving the Merger, and (ii) immediately following the Merger, the Company as the surviving corporation in the Merger and a wholly owned subsidiary of Merger LLC, will
        merge with and into Merger LLC (the “Upstream Merger,” and together with the Merger, the “Combination”),

        with Merger LLC surviving the Upstream Merger (the “Surviving Company”);

    

    

    WHEREAS, as a result of the Combination, the Surviving Company and Parent will become successors to the Company within the meaning of
        Section 8.2 of the Tax Sharing Agreement, and effective only upon (and subject to the occurrence of) the Closing, any reference to the Company thereunder will become a reference to both the Surviving Company and Parent for all purposes of the Tax
        Sharing Agreement; and

    

    

    WHEREAS, in connection with the Merger Agreement and the transactions contemplated thereby, Parent is entering into this Assumption and
        Joinder Agreement, pursuant to which Parent agrees, effective only upon (and subject to the occurrence of) the Closing, to be bound by and perform all of the covenants and agreements made by the Company (and the Surviving Company) under the Tax
        Sharing Agreement and to be jointly and severally liable with the Company (and the Surviving Company) for all of the obligations and liabilities of the Company (and the Surviving Company) under the Tax Sharing Agreement (the “Joint Obligations”), and Qurate Retail agrees, effective only upon (and subject to the occurrence of) the Closing, that Parent shall be entitled to exercise and enforce all of
        the rights of the Company (and the Surviving Company) under the Tax Sharing Agreement (the “Joint Rights”).

    

    

    
      
        

    

    
    

    

    NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties, covenants and agreements contained herein,
        the parties to this Assumption and Joinder Agreement hereby agree, effective only as of (and subject to the occurrence of) the Closing, as follows:

    

    

    Section 1.    Assumption and Joinder. 

     

    

    

    (a)  Parent hereby agrees, effective only as of (and
          subject to the occurrence of) the Closing, (i) to be bound by, perform and observe, the Joint Obligations and (ii) to be jointly and severally liable with the Company (and the Surviving Company) for all of the Joint Obligations.

     

        

    

    (b)  Qurate Retail hereby agrees, effective only as of (and subject to the occurrence of) the Closing, that Parent,
        together with the Company (and the Surviving Company), shall be entitled to exercise and enforce all of the Joint Rights.

    

    

    (c)  Effective only as of (and subject to the occurrence of) the Closing, if Parent or any of its successors or
        assigns shall (i) consolidate with, or merge with or into, any other Person and shall not be the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfer all or substantially all of its properties or assets to
        any Person (including, for the avoidance of doubt, by cancelling or otherwise eliminating all or substantially all of its properties or assets), then, in each case, Parent or its successors or assigns shall take such action as may be necessary so
        that such Person (and its successors and assigns) shall assume all of the applicable obligations and be entitled to all of the applicable rights set forth in the Tax Sharing Agreement and this Assumption and Joinder Agreement.

    

    

    (d)  Effective only as of (and subject to the occurrence of) the Closing, if Qurate Retail or any of its successors
        or assigns shall (i) consolidate with, or merge with or into, any other Person and shall not be the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfer all or substantially all of its properties or assets
        to any Person (including, for the avoidance of doubt, by cancelling or otherwise eliminating all or substantially all of its properties or assets), then, in each case, Qurate Retail or its successors or assigns shall take such action as may be
        necessary so that such Person (and its successors and assigns) shall assume all of the applicable obligations and be entitled to all of the applicable rights set forth in the Tax Sharing Agreement and this Assumption and Joinder Agreement.

    

    

    Section 2.         

          Acceptance by Qurate Retail.  Qurate Retail hereby accepts this Assumption and Joinder Agreement, and acknowledges and agrees that, effective only as of (and subject to the occurrence of) the Closing, Parent shall be deemed a party
        to the Tax Sharing Agreement on the terms set forth herein and therein.

    

    

    Section 3.         

          Effect on Tax Sharing Agreement.  Nothing in this Assumption and Joinder Agreement is intended to constitute, or shall constitute, an amendment, alteration or modification of the Tax Sharing Agreement in any respect, and Qurate
        Retail and the Company (and following the Upstream Effective Time, the Surviving Company) shall continue to be bound by each and every covenant, agreement, term, condition, obligation, duty and liability of Qurate Retail and the Company,
        respectively, contained therein.  The parties acknowledge and agree that, effective only upon (and subject to the occurrence of) the Closing, both the Surviving Company and Parent will become successors to the Company within the meaning of Section
        8.2 of the Tax Sharing Agreement and any reference to the Company thereunder will become a reference to both the Surviving Company and Parent for all purposes of the Tax Sharing Agreement.

    

    

    
      2

      
        

    

    Section 4.         

          Notices.  All notices and other communications to Parent or, following the Closing, the Company under the Tax Sharing Agreement shall be in writing and shall be delivered in person, by facsimile (with confirming copy sent by one of
        the other delivery methods specified herein), by overnight courier or sent by certified, registered or express air mail, postage prepaid, and shall be deemed given when so delivered in person, or when so received by facsimile or courier, or, if
        mailed, three (3) calendar days after the date of mailing, as follows:

    

    

     
      	
              Expedia Group, Inc. 

              

            
	
              333 108th Ave NE 

              

            
	
              Bellevue, WA 98004 

              

            
	
              Attn:    

              

            	
              Chief Legal Officer

            
	
              Email: 

              

            	
              Separately provided

            
	
              Facsimile:

            	
              Separately provided

            

    

                

    

    with a copy (which shall not constitute notice) to:

    

      	
              Wachtell, Lipton, Rosen & Katz 

              

            
	
              51 West 52nd Street 

              

            
	
              New York, NY 10019 

              

            
	
              Attn: 

              

            	
              Andrew J. Nussbaum

            
	
               

            	
              Edward J. Lee

            
	
              Email:   

              

            	
              AJNussbaum@wlrk.com

            
	 	EJLee@wlrk.com
	Facsimile:	(212) 403-2000

    

       

    

    Section 5.         

          Binding Effect; Assignment.  This Assumption and Joinder Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.  Neither
        this Assumption and Joinder Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any party hereto without the prior written consent of the other parties.  Any assignment in violation of the preceding sentence
        shall be void.

    

    

    Section 6.         

          Governing Law; Jurisdiction.  This Assumption and Joinder Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the principles of conflicts of law thereof.  Any
        suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Assumption and Joinder Agreement will be brought exclusively in the Court of Chancery of the State of Delaware (the
        “Delaware Chancery Court”), or, if the Delaware Chancery Court does not have subject matter jurisdiction, in the federal courts located in the State of Delaware.  Each of the parties hereby consents to personal jurisdiction in any such action, suit
        or proceeding brought in any such court (and of the appropriate appellate courts therefrom) and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit,
        action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.  Process in any such suit, action or proceeding may be served on any party anywhere in the
        world, whether within or without the jurisdiction of any such court.  Without limiting the foregoing, each party agrees that service of process on such party as provided in Section 4 of this Assumption and Joinder Agreement or Section 8.6 of the
        Tax Sharing Agreement shall be deemed effective service of process on such party.  EACH OF THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHTS TO TRIAL BY JURY IN CONNECTION WITH
        ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS ASSUMPTION AND JOINDER AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY.

    

    

    
      3

      
        

    

    Section 7.          Termination/Amendment If the Merger Agreement is terminated in accordance with its terms without the Closing having occurred, effective upon such
          termination, this Assumption and Joinder Agreement shall automatically terminate and immediately cease to be of any further force and effect, and no party hereto will thereafter have any rights or obligations hereunder.  This Assumption and
          Joinder Agreement may also be amended, modified or terminated by mutual consent of the parties hereto in a written instrument.

    

    

    Section 8.         

          Counterparts.  This Assumption and Joinder Agreement may be executed in two or more identical counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same agreement. This
        Assumption and Joinder Agreement may be delivered by facsimile transmission of a signed copy thereof.

    

    

    Section 9.         

          Severability.  Any provision of this Assumption and Joinder Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
        without invalidating the remaining provisions hereof. Any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.  Upon a determination that any provision of
        this Assumption and Joinder Agreement is prohibited or unenforceable in any jurisdiction, the parties shall negotiate in good faith to modify this Assignment and Joinder Agreement so as to effect the original intent of the parties as closely as
        possible in an acceptable manner in order that the provisions contemplated hereby are consummated as originally contemplated to the fullest extent possible.

    

    

    Section
            10.          Amendments; Waivers.  Any provision of this Assumption and Joinder Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each
        party hereto, or in the case of a waiver, by the party against whom the waiver is to be effective.  No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or
        partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.  Except as otherwise provided herein, the rights and remedies herein provided shall be cumulative and not exclusive of
        any rights or remedies provided by applicable Law.  Any consent provided under this Assumption and Joinder Agreement must be in writing, signed by the party against whom enforcement of such consent is sought.

    

    

    Section
            11.          Headings.  The headings contained in this Assumption and Joinder Agreement are for reference purposes only and will not affect in any way the meaning or interpretation of this Assumption and Joinder Agreement.

    

    

    [Signature Page Follows]

    

    

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

    

    

    	 	
            EXPEDIA GROUP, INC.

          
	 	 	 
	 	
            By:

          	/s/ Mark D. Okerstrom
	 	 	
            Name: Mark D. Okerstrom

          
	 	 	
            Title: President and Chief Executive Officer

          
	 	 	 
	 	
            LIBERTY EXPEDIA HOLDINGS, INC.

          
	 	 	 
	 	
            By:

          	/s/ Christopher W. Shean
	 	 	
            Name: Christopher W. Shean

          
	 	 	
            Title: President and Chief Executive Officer

          
	 	 	 
	 	
            QURATE RETAIL, INC.

          
	 	 	 
	 	
            By:

          	
            /s/ Albert E. Rosenthaler

          
	 	 	
            Name: Albert E. Rosenthaler

          
	 	 	
            Title: Chief Corporate Development Officer

          

    

    

    

    

    
      [Signature Page to Tax Sharing Agreement Assumption and Joinder Agreement]Exhibit 10.9

    

    

    ASSUMPTION AGREEMENT

    CONCERNING

    TRANSACTION AGREEMENT OBLIGATIONS

    

    

    This ASSUMPTION AGREEMENT CONCERNING TRANSACTION AGREEMENT OBLIGATIONS is made and entered into as of April 15, 2019 (the “Assumption Agreement”), by and among Expedia Group, Inc., a Delaware corporation (“Parent”),
        Liberty Expedia Holdings, Inc., a Delaware corporation (the “Company”), Qurate Retail, Inc., a Delaware corporation (f/k/a Liberty Interactive Corporation) (“Qurate Retail”), Mr. Barry Diller (“Diller”), Mr. John C. Malone (“Malone”) and Mrs. Leslie Malone  (“Mrs. Malone” and, together with Malone, the “Malone Group”).  Capitalized terms used but not defined herein will have the meaning ascribed thereto in the Merger Agreement (as defined below).

    

    

    W I T N E S
            S E T H

    

    

    WHEREAS, the Company, Qurate Retail, the members of the Malone Group and Diller previously entered into an Amended and Restated
        Transaction Agreement, dated as of September 22, 2016, as amended by the letter agreement dated March 6, 2018 (the “Pre-Amendment Transaction Agreement”), which
        Pre-Amendment Transaction Agreement was further amended (as so amended, the “Transaction Agreement”) by Amendment No. 2 to the Transaction Agreement, dated April 15,
        2019,  among the parties to the Pre-Amendment Transaction Agreement (“Amendment No. 2 to the Transaction Agreement”);

    

    

    WHEREAS, pursuant to the provisions of Amendment No. 2 to the Transaction Agreement and the Transaction Agreement, on April 15, 2019,
        the Transaction Agreement terminated in accordance with its terms, with the effects set forth in the last paragraph of Section 15(b) thereof, providing for, among other things, the survival following such termination of Section 8 of the Transaction
        Agreement;

    

    

    WHEREAS, Qurate Retail and the Company are joint and several obligors with respect to certain indemnity obligations to the members of
        the Malone Group and Diller pursuant to Section 8 of the Transaction Agreement (the obligations set forth in Section 8 together with the portions of Sections 1 and 16 of the Transaction Agreement related thereto  surviving the termination of the
        Transaction Agreement, the “Continuing Obligations”) and are entitled to certain rights pursuant to Section 8 of the Transaction Agreement (the rights set forth in Section
        8, together with the portions of Sections 1 and 16  of the Transaction Agreement related thereto surviving the termination of the Transaction Agreement, the “Continuing Rights”);

    

    

    WHEREAS, simultaneously with the execution of this Assumption Agreement, Parent, LEMS II Inc., a Delaware corporation and an indirect
        wholly owned subsidiary of Parent (“Merger Sub”), LEMS I LLC, a Delaware limited liability company and a wholly owned subsidiary of Parent (“Merger LLC”), and the Company are entering into the Agreement and Plan of Merger, dated as of April 15, 2019 (as amended pursuant to its terms, the “Merger Agreement”), pursuant to which, upon the terms and subject to the conditions set forth therein, (i) Merger Sub will merge (the “Merger”)

        with and into the Company, with the Company surviving the Merger, and (ii) immediately following the Merger, the Company as the surviving corporation in the Merger and a wholly owned subsidiary of Merger LLC, will merge with and into Merger LLC
        (the “Upstream Merger”), with Merger LLC surviving the Upstream Merger (the “Surviving Company”);

        and

    

    

    
      
        

    

    
    

    

    WHEREAS, in connection with the Merger Agreement and the transactions contemplated thereby, Parent is entering into this Assumption
        Agreement.

    

    

    NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties, covenants and agreements contained herein,
        the parties to this Assumption Agreement hereby agree, effective only as of (and subject to the occurrence of) the Closing, as follows:

    

    

    Section 1.         

          Assumption.

    

    

    (a)  Parent hereby agrees, effective only as of (and subject to the occurrence of) the Closing, (i) to be bound by,
        perform and observe, the Continuing Obligations and (ii) to be jointly and severally liable with the Company (and the Surviving Company and Qurate Retail) for all of the Continuing Obligations.

    

    

    (b)  Qurate Retail hereby agrees, effective only as of
          (and subject to the occurrence of) the Closing, that Parent, together with the Company (and the Surviving Company), shall be entitled to exercise and enforce all of the Continuing Rights.

    

    

    (c)  Effective only as of (and subject to the occurrence of) the Closing, if Parent or any of its successors or
        assigns shall (i) consolidate with, or merge with or into, any other Person and shall not be the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfer all or substantially all of its properties or assets to
        any Person (including, for the avoidance of doubt, by cancelling or otherwise eliminating all or substantially all of its properties or assets), then, in each case, Parent or its successors or assigns shall take such action as may be necessary so
        that such Person (and its successors and assigns) shall assume all of the Continuing Obligations and be entitled to all of the Continuing Rights applicable to Parent set forth in this Assumption Agreement.

    

    

    (d) Effective only as of (and subject to the occurrence of) the Closing, if Qurate Retail or any of its successors or
        assigns shall (i) consolidate with, or merge with or into, any other Person and shall not be the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfer all or substantially all of its properties or assets to
        any Person (including, for the avoidance of doubt, by cancelling or otherwise eliminating all or substantially all of its properties or assets), then, in each case, Qurate Retail or its successors or assigns shall take such action as may be
        necessary so that such Person (and its successors and assigns) shall assume all of the Continuing Obligations and be entitled to all of the Continuing Rights applicable to Qurate Retail set forth in this Assumption Agreement.

    

    

    Section 2.         

          Acceptance by Parties.  Each of the Company, Qurate Retail, Diller, Malone and Mrs. Malone hereby accepts, effective only as of (and subject to the occurrence of) the Closing, this Assumption Agreement.

    

    

    Section 3.       

          Effect on the Transaction Agreement Provisions; Consent.  Nothing in this Assumption Agreement is intended to constitute, or shall constitute, an amendment, alteration or modification of the provisions of the Transaction Agreement
        that survived termination of the Transaction Agreement in any respect, and Qurate Retail and the Company (and following the Upstream Effective Time, the Surviving Company) shall continue to be bound by each and every covenant, agreement, term,
        condition, obligation, duty and liability of the Qurate Retail and Company, respectively, contained therein.

    

    

    Each of Parent, the Company, Qurate Retail, Diller, Malone and Mrs.
          Malone hereby irrevocably consents to the assignment by the Surviving Corporation of all its rights, benefits and obligations under this Assumption Agreement and the provisions of the Transaction Agreement that survived termination of the
          Transaction Agreement, to the Surviving Company in connection with the consummation of the Upstream Merger.

    

    

    Section 4.         

          Amendment and Waiver.  This Assumption Agreement may not be amended, modified, or waived except in a written instrument executed by the parties hereto.  Any amendment, waiver or modification of this Assumption Agreement without such
        consent shall be null and void.  The failure of any party to enforce any of the provisions of this Assumption Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce
        each and every provision of this Assumption Agreement in accordance with its terms.

    

    

    Section 5.         

          Notices.  Any notices or other communications to Parent or, following the Closing, the Company required or permitted under, or otherwise in connection with the Continuing Obligations or Continuing Rights, shall be in writing and
        shall be deemed to have been duly given (a) when delivered in person, (b) upon transmission by electronic mail or facsimile transmission as evidenced by confirmation of transmission to the sender (but only if followed by transmittal of a copy
        thereof by (i) national overnight courier or (ii) hand delivery with receipt, in each case, for delivery by the second (2nd) Business Day following such electronic mail or facsimile transmission), (c) on receipt after dispatch by registered or
        certified mail, postage prepaid and addressed, or (d) on the next Business Day if transmitted by national overnight courier, in each case as set forth to Parent as set forth below:

    

    

    Expedia Group, Inc.

    333 108th Ave NE

    Bellevue, WA 98004

    Attn:          Chief Legal Officer

    Email:       Separately provided

    Facsimile: Separately provided

    

    

    
      2

      
        

    

    

    

    with a copy (which shall not constitute notice) to:

    

      	
              Wachtell, Lipton, Rosen & Katz 

              

            
	
              51 West 52nd Street 

              

            
	
              New York, NY 10019 

              

            
	
              Attn: 

              

            	
              Andrew J. Nussbaum

            
	
               

            	
              Edward J. Lee

            
	
              Email:   

              

            	
              AJNussbaum@wlrk.com

            
	 	EJLee@wlrk.com
	Facsimile:	(212) 403-2000

    

    

    or such other address, email address or facsimile number as Parent may hereafter specify by notice (as contemplated by this sentence) to the other parties
        hereto, and to any other party, to such party as set forth in Section 16(j) of the Transaction Agreement (as such Section 16(j) survived termination of the Transaction Agreement).

    

    

    Section 6.         

          Binding Effect; Assignment.  Neither this Assumption Agreement nor any of the rights or obligations under this Assumption Agreement shall be assigned by any party without the prior written consent of the other parties hereto.  Any
        assignment in violation of the preceding sentence shall be void.  This Assumption Agreement shall bind and inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns.

    

    

    Section 7.         

          Governing Law; Jurisdiction and Venue.  This Assumption Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the principles of conflicts of law thereof. The
        parties hereto hereby irrevocably submit to the jurisdiction of the Delaware Court of Chancery or, in the event (but only in the event) that such court does not have subject matter jurisdiction over such action or proceeding, in the United States
        District Court for the District of Delaware in respect of the interpretation and enforcement of the provisions of this Assumption Agreement and of the documents referred to in this Assumption Agreement, and in respect of the matters contemplated
        hereby, and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or of any such document, that it is not subject thereto or that such action, suit or proceeding may not
        be brought or is not maintainable in the Delaware Court of Chancery, or in the event (but only in the event) that such court does not have subject matter jurisdiction over such action or proceeding, in the United States District Court for the
        District of Delaware, or that this Assumption Agreement or any such document may not be enforced in or by such courts, and the parties hereto irrevocably agree that all claims with respect to such action or proceeding shall be heard and determined
        exclusively  in the Delaware Court of Chancery, or in the event (but only in the event) that such court does not have subject matter jurisdiction over such action or proceeding, in the United States District Court for the District of Delaware. The
        parties hereto hereby consent to and grant the Delaware Court of Chancery, or in the event (but only in the event) that such court does not have subject matter jurisdiction over such action or proceeding, the United States District Court for the
        District of Delaware, jurisdiction over the person of such parties and, to the extent permitted by law, over the subject matter of such dispute and agree that mailing of process or other papers in connection with any such action or proceeding in
        the manner provided herein or in Section 16(j) of the Transaction Agreement or in such other manner as may be permitted by Law shall be valid and sufficient service thereof. EACH OF THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST
        EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHTS TO TRIAL BY JURY IN CONNECTION WITH ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS ASSUMPTION AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY.

    

    

    
      3

      
        

    

    

    

    Section 8.          Termination/Amendment.  If the Merger Agreement is terminated in accordance with its terms without the Closing having occurred, effective upon such
          termination, this Assumption Agreement shall automatically terminate and immediately cease to be of any further force and effect, and no party hereto will thereafter have any rights or obligations hereunder.  This Assumption Agreement may also be
          amended, modified or terminated by mutual consent of the parties hereto in a written instrument.

    

    

    Section 9.         

          Counterparts.  This Assumption Agreement may be executed in separate counterparts each of which shall be an original and all of which taken together shall constitute one and the same agreement.

    

    

    Section
            10.      Severability.  Whenever possible, each provision (or portion thereof) of this Assumption Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision (or
        portion thereof) of this Assumption Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, then such invalidity, illegality or unenforceability shall not affect any other
        provision or any other jurisdiction, but this Assumption Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.

    

    

    Section
            11.          Headings.  The headings contained in this Assumption Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Assumption Agreement.

    

    

    [Signature Page Follows]

    

    

    
      4

      
        

    

    

    

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

    

    

    	 	
            EXPEDIA GROUP, INC.

          
	 	 	 
	 	
            By:

          	/s/ Mark D. Okerstrom
	 	 	
            Name: Mark D. Okerstrom

          
	 	 	
            Title: President and Chief Executive Officer

          
	 	 	 
	 	
            LIBERTY EXPEDIA HOLDINGS, INC.

          
	 	 	 
	 	
            By:

          	/s/ Christopher W. Shean
	 	 	
            Name: Christopher W. Shean

          
	 	 	
            Title: President and Chief Executive Officer

          
	 	 	 
	 	
            QURATE RETAIL, INC.

          
	 	 	 
	 	
            By:

          	/s/ Albert E. Rosenthaler
	 	 	
            Name: Albert E. Rosenthaler

          
	 	 	
            Title: Chief Corporate Development Officer

          
	 	 	 
	 	/s/ Barry Diller  

          
	 	
            Barry Diller

          
	 	 	 
	 	/s/ John C. Malone

          
	 	
            John C. Malone

          
	 	 	 
	 	/s/ Leslie Malone

          
	 	
            Leslie Malone

          

    

    

    
      [Signature Page to Assumption Agreement]

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