Trademark Trial and Appeal Board Electronic Filing System. http://estta.uspto.gov ESTTA Tracking number: ESTTA971455 Filing date: 05/05/2019

IN THE UNITED STATES PATENT AND TRADEMARK OFFICE BEFORE THE TRADEMARK TRIAL AND APPEAL BOARD Proceeding 91230917 Party Defendant RLP Ventures, LLC Correspondence RLP VENTURES LLC Address PO BOX 2605 NEW YORK, NY 10108-2605 UNITED STATES [email protected] no phone number provided

Submission Other Motions/Papers Filer's Name Ramona Prioleau Filer's email [email protected] Signature /Ramona Prioleau/ Date 05/05/2019 Attachments Opposition to Motion and Cross-Motions.pdf(239948 bytes ) Declaration Exhibits.pdf(5761623 bytes ) IN THE UNITED STATES PATENT AND TRADEMARK OFFICE BEFORE THE TRADEMARK TRIAL AND APPEAL BOARD

MATCH GROUP, LLC (successor-in- interest to TINDER, INC.)

Opposer, Opposition No. 91230917 v.

RLP VENTURES, LLC

Applicant.

OPPOSITION TO MOTION FOR PROTECTIVE ORDER AND CROSS- MOTIONS TO COMPEL DEPOSITIONS AND EXTEND TESTIMONY PERIOD

I. INTRODUCTION

Applicant RLP Ventures, LLC (“Applicant”) hereby responds to and opposes the Motion for Protective Order of Match Group, LLC (“Opposer”). Applicant opposes the Motion for

Protective Order on the grounds that Opposer: (i) lacks standing to make a motion on behalf of the individuals noticed for deposition; (ii) a motion for a protective order is an improper response to a notice of testimonial deposition under Trademark Trial and Appeal Board Manual of

Procedure (“TBMP”) §§ 521 and 526; and (iii) the Opposer has provided misleading information

in its motion for protective order. As a general matter, Applicant opposes the Motion for

Protective Order also on the grounds that Applicant’s Notices of Deposition (i) are clear; (ii)

seek clearly relevant information, that is tied to the specific grounds for opposition asserted by

Opposer; and (iii) are not intended to harass the individuals noticed for deposition. Furthermore,

Applicant’s notices, which set the place for deposition in New York, NY, were provided to the

individuals noticed for deposition as early as March 20, 2019 and the location was not objected

to by their legal representative at that time and Applicant offered to conduct the depositions “at such time and place as may be agreed to by the parties.” Therefore, Applicant’s notices of deposition are proper and the depositions should proceed as noticed.

Separately, Applicant brings this cross-motion to compel the attendance each of the following Match Group, Inc. (“MGI”) individuals:

 Amanda Ginsberg;

 Gary Swidler;

 Alan Spoon;

 Pamela Seymon; and

 Thomas McInerney (each a Deponent and together, “Deponents”).

at their depositions pursuant to the Federal Rules of Civil Procedure and the Trademark Rules of

Practice and to extend the defendant’s testimonial deadline.

This cross-motion is made necessary due to MGI’s refusal to produce Deponents for their

deposition pursuant to the Notices of Deposition by Written Questions dated March 20, 2019

(See Prioleau Decl. Exs. B-1 – B-5).

The testimonial cutoff in this matter is May 6, 2019 (the next succeeding secular or business day following May 4, 2019). To date, neither the individuals noticed for deposition nor

their publicly-identified legal representative has responded to the Notices of Deposition.

Applicant hereby moves the Trademark Trial and Appeal Board (“the Board”) for an

order:

1. Compelling MGI to produce Deponents for their deposition at a place and time

mutually agreed upon by Applicant and MGI and

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2. Resetting the defendant’s testimonial cut-off for Applicant to a date 90 days after

the issuance of the order (and resetting subsequent trial dates accordingly) (a) to

allow Applicant the opportunity to attempt to seek the trial testimony of the

individuals noticed by either deposition, declaration or affidavit or to secure the

attendance of the witnesses by subpoena pursuant to 35 U.S.C. § 24 and Fed. R.

Civ. P. 45.

In its Motion for Protective Order, Opposer falsely alleges that “Applicant has no legitimate need for the testimony it seeks from Match Group’s “apex” personnel” and Opposer offers misleading factual statements about the nature of the Notices of Deposition. In doing so,

Opposer obscures relevant facts related to Applicant’s attempts to resolve testimonial matters during the Applicant’s testimony period in accordance with TBMP § 703.

As an initial matter, Opposer uses the undefined “Match Group” in its motion, obscuring the fact that the Opposer in this proceeding is Match Group, LLC and the individuals noticed for

deposition relate to the non-party Match Group, Inc. Match Group, LLC and Match Group, Inc.

are two distinctly formed legal entities.

If by its obscure reference to “Match Group’s “apex” personnel,” Opposer is disclosing

material, non-public information that each Deponent is personnel of the Opposer, then Opposer

has arguably exposed MGI to violations of the Securities and Exchange Commission (“SEC”)

regulations as well as the Nasdaq Listing Rules. Nevertheless, Applicant responds to Opposer’s

Motion for Protective Order based on information in the Declaration of Ramona Prioleau

attached as Attachment A (the “Prioleau Decl.”) that supports Applicant’s Opposition to

Opposer’s Motion for Protective Order and Applicant’s Cross-Motions.

II. RELEVANT BACKGROUND

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Pre-Trial Disclosures: On March 20, 2019, Applicant served its Pre-Trial Disclosures, identifying Deponents as individuals likely to have knowledge of information that the Applicant may use to support its claims in the Opposition proceeding. Prioleau Decl. Ex. A.

Notices of Testimonial Deposition: On March 20, 2019, Applicant served upon Jared

Sine, General Counsel and Secretary of Match Group, Inc. and the legal representative of the

Deponents (See Prioleau Decl. Exs. C and W, p. RLP 335, first paragraph), as well as Opposer its Notices of Deposition of each of the Deponents, which were noticed for April 4, 2019. See

Prioleau Decl. Exs. B-1 – B-5 and D.

On March 27, 2019, Opposer sent a letter to Applicant which objected to Applicant’s notices of deposition on the grounds that Applicant’s notices were

per se improper, both in form and substance. They are also abusive, representing the quintessential example of an unjustified attempt to depose “apex witnesses” without cause noting that an undefined “Match Group” would not comply with the Notices. See Prioleau Decl.

Ex. E. Opposer notably did not, however, object to New York, NY as a proper venue for the depositions. Id. Sine, the publicly-disclosed legal representative, did not respond to Applicant’s

Notices of Deposition.

On March 28, 2019, Applicant specifically responded to Opposer’s objections and offered to pursue other options to get the desired testimony. See Prioleau Decl. Ex. F. On April

1, 2019, Opposer offered Evan Bonnstetter as a witness in place of the individuals Applicant noticed for deposition. See Prioleau Decl. Ex. G. On April 2, 2019, Applicant asked Opposer to provide detail of:

 Mr. Bonstetter’s legal authorization to answer on behalf of the individuals that Applicant noticed for deposition and  his knowledge of the subject matter of each of the deposition questions previously submitted.

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See Prioleau Decl. Exs. B-1-B-5 and H.

On April 4, 2019, Opposer emailed Applicant regarding Mr. Bonstetter’s background, but failed to provide detail of:

 Mr. Bonstetter’s legal authorization to answer on behalf of the individuals that Applicant noticed for deposition and  his knowledge of the subject matter of each of the deposition questions previously submitted. See Prioleau Decl. Ex. I.

On April 5, 2019, Applicant emailed Opposer and Jared Sine, the publicly-disclosed legal

representative (See Prioleau Decl. Exhibit J), offering its willingness to pursue other options to

get the desired testimony, including affidavits and declarations from the individuals noticed for

deposition that provided testimony related to all of the deposition questions submitted on March

20, 2019 as well as requesting confirmation that:

a. MGI will not comply with Applicant’s Notices of Deposition; b. Mr. Bonnstetter is not: i. Legally authorized to answer Applicant’s deposition questions on behalf of the individuals that Applicant noticed for deposition and ii. Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019. c. MGI will provide Applicant with the name of a deponent that is: i. Legally authorized to answer Applicant’s deposition questions on behalf of the individuals that Applicant noticed for deposition and ii. Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019.

On April 8, 2019, Opposer emailed Applicant its contention that the Notices of

Deposition were improper and again failed to offer a witness in place of the individuals

Applicant noticed for deposition that was legally authorized to speak on said individuals behalf or knowledgeable of the subject matter of the deposition questions. See Prioleau Decl. Ex. K.

Sine, the publicly-disclosed legal representative, did not respond to Applicant’s April 5, 2019 email.

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On April 8, 2019, Applicant emailed Opposer’s Attorney requesting clarification of said attorney’s representation of MGI and the individuals noticed for deposition. See Prioleau Decl.

Ex. L.

On April 10, 2019, Opposer emailed Applicant stating that “these individuals are officers and employees of party-Opponent Match Group.” See Prioleau Decl. Ex. M.

On April 12, 2019, Applicant emailed Opposer’s Attorney requesting the names of the

officers and employees of party-opponent, Match Group, LLC that were among the individuals

noticed for deposition as well as any update to the legal representative for the individuals noticed

for deposition. See Prioleau Decl. Ex. N.

On April 18, 2019, Applicant emailed Opposer explaining that the Notices of Deposition

are proper; that the individuals noticed for deposition have unique, first-hand knowledge of the

subject matter of each of the deposition questions submitted on March 20, 2019; and reiterated

its willingness to pursue other options to get the desired testimony. See Prioleau Decl. Ex. O.

On April 18, 2019, Applicant emailed Jared Sine, the publicly-disclosed legal

representative and copied Opposer (See Prioleau Decl. Ex. P), offering to resolve the outstanding

testimonial depositions and requesting that Mr. Sine provide Applicant with the contact

information for any designated outside counsel to handle matters related to the individuals

noticed for deposition. Jared Sine, the publicly-disclosed legal representative, did not respond to

Applicant’s April 18, 2019 email.

On April 19, 2019, Opposer’s Attorney emailed Applicant confirming that it was counsel

of record for Match Group, LLC, including its employees, and refusing make the noticed

witnesses available for deposition. Opposer’s Attorney did not confirm that it was counsel for

MGI or the individuals noticed for deposition. See Prioleau Decl. Ex. Q.

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On April 19, 2019, Applicant emailed Opposer’s Attorney disputing various false claims

made by Opposer. See Prioleau Decl. Ex. R.

Neither Opposer, nor Jared Sine, the publicly-disclosed legal representative, filed a motion to quash the Notices of Deposition in accordance with TBMP § 521. Applicant did not withdraw the Notices of Deposition.

III. ARGUMENT

Opposer lacks standing to object to the notices of deposition of a non-party. The

Supreme Court in Lexmark Internat’l, Inc. v. Static Control Components, Inc., 134 S.Ct. 1377,

1386 (2014) explained that there is an “irreducible constitutional minimum of standing.” Id. A court has subject matter jurisdiction to adjudicate a plaintiff’s claims only if the plaintiff has

“suffered or [is] imminently threatened with a concrete and particularized ‘injury in fact’ that is fairly traceable to the challenged action of the defendant and likely to be redressed by a favorable judicial decision.” Id.

Here, there is no such “injury in fact.” Instead, the individuals noticed for deposition have unique, first-hand knowledge of the subject matter of each of the deposition questions submitted on March 20, 2019. The individuals noticed for deposition approved public solicitations that describe Applicant’s business as a dating product or service. The responses to the submitted deposition questions are central to Applicant’s trial testimony in the instant proceeding. Moreover, the responses to the submitted deposition questions are directly related to

DuPont factors 1 through 4. As the Board examines the likelihood of confusion between

Applicant’s and Opposer’s marks, the testimony of the individuals noticed for deposition will provide the Board with a complete picture on which to render its trial opinion.

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While Opposer offered Mr. Bonstetter as a witness in place of the individuals Applicant noticed for deposition, as discussed above, Opposer failed to confirm that Mr. Bonstetter was:

 Mr. Bonstetter’s legal authorization to answer on behalf of the individuals that Applicant noticed for deposition and  his knowledge of the subject matter of each of the deposition questions previously submitted. See Prioleau Decl. Ex. G-K. Moreover, Mr. Bonstetter is not a signatory to MGI’s Form 10-K

upon which the deposition questions related to Applicant’s business as a dating product or

service are based. See Prioleau Decl. Ex. U, RLP-275.

Instead, the Deponents are signatories to the Form 10-K. Id. In addition, Deponents

Ginsberg and Swidler have certified in MGI’s annual report filed February 28, 2019 that it is a provider of subscription dating products, including Tinder. See Prioleau Decl. Ex. U, RLP-280 –

281. These certifications are made pursuant to the Sarbanes-Oxley Act, including Section 906 thereof that provides for criminal penalties for certifying a misleading or fraudulent financial report that can be upwards of $5 million in fines and 20 years in prison, making Deponents

Ginsberg and Swidler highly motivated to speak to the true nature of Applicant’s business.

With respect to Deponents Alan Spoon, Pamela Seymon; and Thomas McInerney, all three serve on MGI’s audit committee and according to MGI’s audit committee charter these three are charged with providing assistance to the Board in relation to MGI’s financial matters.

See Prioleau Decl. Ex. V, RLP-300. Purportedly non-executive directors, these Deponents interface with company management and the external auditors as well as monitor the integrity of

MGI’s financial statements, among other matters. Id. These Deponents are uniquely-suited to provide first-hand knowledge and perspective regarding MGI’s financial expenditures related to

Applicant’s business as a dating product or service.

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Based on public disclosures of MGI, the individuals notice for deposition are not personnel of the Opposer (See Prioleau Decl. Exs. S, T and V, pages RLP 294, 297 (first full paragraph), and 298 (second paragraph)).

Unless and until Opposer establishes standing to file a motion for protective order in

MGI’s name, Opposer’s instant motion is a nullity. Applicant repeatedly asked Opposer

Attorney whether it represented the individuals noticed for deposition (See Prioleau Decl. Exs. L,

N and R). Despite those numerous requests, neither Opposer, nor its attorney clearly stated that either had the authority to represent the interests of the individuals noticed for deposition or MGI

(See Prioleau Decl. Exs. M and Q). On April 18, 2019, Applicant also contacted Jared Sine, the publicly-disclosed legal representative for matters related to MGI, requesting that Mr. Sine provide Applicant with the contact information for any designated outside counsel to handle

matters related to the individuals noticed for deposition. See Prioleau Decl. Ex. P. Jared Sine did

not respond to Applicant’s April 18, 2019 email.

Opposer’s objection that Applicant has no legitimate need for the testimony it seeks

from the individuals noticed for deposition is baseless. As noted above, Opposer contention is

untrue due to the individuals noticed for deposition having unique, first-hand knowledge of the

subject matter of each of the deposition questions submitted on March 20, 2019 and Applicant

incorporates the above arguments as though they were fully stated here. Furthermore, in

accordance with the TBMP, Applicant has contacted the legal representative for the individuals

noticed for deposition, Jared Sine, on April 5 and April 18, 2019 to explore alternative means to

get the desired testimony. Mr. Sine failed to respond, necessitating the below Cross-Motions.

Applicant has requested testimony on the use of Opposer’s Mark as a dating product or

service. All of these requests are relevant to establishing how the Opposer has used the

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Opposer’s Mark and solicited business in relation thereto. As noted above, the individuals noticed for deposition have signed MGI’s Form 10-K that describes the Applicant’s business as a dating product or service on the pain of securities liability. See Prioleau Decl. Ex. U, RLP-275.

Applicant’s deposition notices are proper. Rule 2.120(a) of the Trademark Rules of

Practice “provides that mere notice alone is sufficient to secure the attendance of a party for the taking of his discovery deposition.” See Consol. Foods Corp., 189 U.S.P.Q. (BNA) ¶ 582 (P.T.O.

Mar. 5, 1976); see also TBMP § 404.03(a)(1) (stating that “the deposition [of a party] may be taken on notice alone.”). TBMP § 404.06(b) states that the deposition of an organization may be made consistent with Fed. R. Civ. P. 30(b)(6).

A motion for a protective order is an improper response to a notice of testimonial deposition. Pursuant to the TBMP § 521, in the case of a notice of discovery deposition and under appropriate circumstances, the party may file a motion for a protective order. Separately,

TBMP § 526 provides that:

Upon motion by a party obligated to make initial disclosures or expert testimony disclosure or from whom discovery is sought, and for good cause, the Trademark Trial and Appeal Board may make any order which justice requires to protect a party from annoyance, embarrassment, oppression, or undue burden or expense.

Here, the Applicant served notices of testimonial deposition and not discovery depositions. In addition, Applicant’s testimonial deposition questions are not meant to annoy, embarrass, oppress, or unduly burden or expense, but instead they relate directly to DuPont

Factors 1 through 4 and draw upon public disclosures approved by the individuals noticed for deposition. (See Prioleau Decl. Exs. B-1 – B-5).

MGI Should be Compelled to Produce Deponents for Deposition.

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A. MGI’s REFUSAL TO PRODUCE DEPONENTS FOR DEPOSITIONS WERE

COMPLETELY WITHOUT LEGAL MERIT

It has long been held that absent a court order preventing the taking of depositions, the depositions should go forward. Even the filing of a motion for a protective order would not stay the deposition. Only a properly issued court order has that effect. This issue was addressed in

Pioche Mines Consol., Inc. v. Dolman, 333 F. 2d 257 (9th Cir. 1964). In discussing the effect of the mere filing of a motion for a protective upon the taking of a scheduled deposition, the court stated:

“Counsel’s view seems to be that a party need not appear if a motion under Rule 30(b), F.R.Civ.P. is on file, even though it has not been acted upon. Any such rule would be an intolerable clog upon the discovery process. Rule 30(b) places the burden on the proposed deponent to get an order, not just to make a motion. And if there is not time to have his motion heard, the least that he can be expected to do is to get an order postponing the time of the deposition until his motion can be heard. He might also appear and seek to adjourn the deposition until an order can be obtained. (Rule 30(d)). But unless he has obtained a court order that postpones or dispenses with his duty to appear, that duty remains. Otherwise, as this case shows, a proposed deponent, by merely filing motions under Rule 30(b), could evade giving his deposition indefinitely. Under the Rules, it is for the court, not the deponent or his counsel, to relieve him of the duty to appear.

Id. at 269.

This rule was made “crystal clear· by the court in F.A.A. v. Landy 705 F. 2d 624 (2d Cir.

1983), where the court stated:

“It is clear, however, that it is not the filing of such a motion (motion for a protective order) that stays the deposition, but rather a court order.”

Id. at 634.

MGI’s counsel, failed to produce Deponents for the scheduled deposition, which is the subject matter of this cross-motion. At the time of its action, MGI’s counsel did not have any

Board order preventing the taking of Deponents’ depositions. At no time, between the time of the

11 scheduling of the deposition and the scheduled deposition date, did MGI’s counsel file a motion to quash the Notices of Deposition or appear at the scheduled deposition and seek to adjourn the depositions until an order can be obtained. The Board should rule on the instant cross-motion to compel the depositions of Deponents.

These facts clearly show that MGI’s counsel, without any proper legal basis whatsoever, failed to produce Deponents for the depositions. In no way can this action be defended. This obstructionist conduct should not be condoned. And, if as Opposer’s Attorney claims, the individuals noticed for deposition are personnel of the Opposer, the Board should sanction

Opposer to deter such meritless tactics and behavior for its refusal to make the Deponents available for the noticed depositions.

IV. CONCLUSION

For the reasons stated herein, the Board should issue an order granting Applicant the relief requested relating to its testimony period.

Respectfully submitted,

Dated: May 5, 2019 By: /Ramona Prioleau/

Ramona Prioleau RLP Ventures, LLC Times Square Station P.O. Box 2605 New York, NY 10108-2605 [email protected]

APPLICANT

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CERTIFICATE OF SERVICE

I hereby certify that a true and accurate copy of this foregoing Opposition to Motion for Protective Order and Cross-Motions to Compel Depositions and Extend Testimony Period was served by email and to the attorney for the Deponents on the date listed below:

Jared Sine General Counsel Match Group, Inc. 8750 North Central Expressway, Suite 1400 Dallas, Texas 75231 [email protected]

I hereby certify that a true and accurate copy of this foregoing Opposition to Motion for Protective Order and Cross-Motions to Compel Depositions and Extend Testimony Period was served by email to the attorney for the Opposer on the date listed below:

Jonathan D. Reichman, Esq. Hunton Andrews Kurth LLP [email protected] [email protected] [email protected]

Dated: May 5, 2019 By: /Ramona Prioleau/ Ramona Prioleau

RAMONA PRIOLEAU DECLARATION

ATTACHMENT A

IN THE UNITED STATES PATENT AND TRADEMARK OFFICE BEFORE THE TRADEMARK TRIAL AND APPEAL BOARD

MATCH GROUP, LLC (successor-in- interest to TINDER, INC.)

Opposer, Opposition No. 91230917 v.

RLP VENTURES, LLC

Applicant.

Declaration of Ramona Prioleau

I, Ramona Prioleau, declare under penalty of perjury as follows:

1. I am over the age of eighteen and competent to make this Declaration.

2. I am the founder and representative of Applicant (RLP Ventures, LLC). In my position, I am authorized to assert to and confirm the activities and beliefs of Applicant.

3. I make this declaration on the basis of my own personal knowledge and in support of Applicant’s Opposition to Opposer’s Motion for Protective Order and Applicant’s Cross-

Motions to Compel Depositions and Extend Testimony Period.

4. I verify that Applicant is the owner and operator of an ecosystem under the

POLITICAL TINDER mark that is the subject of Opposition No. 91230917.

5. On March 20, 2019, Applicant served its Pre-Trial Disclosures, identifying the following witnesses that Applicant expects to present: (a) Ramona Prioleau, Owner of RLP

Ventures, LLC; (b) Amanda W. Ginsberg. Chief Executive Officer of Match Group, Inc.

(“MGI”) ; (c) Gary Swidler, Chief Financial Officer of MGI; (d) Alan G. Spoon, Member of the Board of Directors of MGI; (e) Pamela S. Seymon, Member of the Board of Directors of MGI; and (f) Thomas J. McInerney, Member of the Board of Directors of MGI. A true and correct copy of a printout can be found in Exhibit A.

6. On March 20, 2019, Applicant served Notices of Deposition for each of (a)

Amanda W. Ginsberg; (b) Gary Swidler; (c) Alan G. Spoon; (d) Pamela S. Seymon; and (e)

Thomas J. McInerney (A true and correct copy of a printout can be found in Exhibits B-1 – B-5)

on Jared Sine, General Counsel and Secretary for MGI and the publicly-disclosed legal

representative (A true and correct copy of a printout can be found in Exhibit C (emphasis

added)), setting the deposition date and time for Thursday, April 4, 2019 at 10:00 am in New

York, NY. Applicant emailed Opposer a copy of said Notices of Deposition. A true and correct

copy of a printout can be found in Exhibit D.

7. On March 27, 2019, Opposer responded to Applicant’s Notices of Deposition,

stating among other matters its contention that the Notices were improper and that “Match

Group” would not comply with the Notices. A true and correct copy of a printout can be found in

Exhibit E. Jared Sine, the publicly-disclosed legal representative, did not respond to Applicant’s

Notices of Deposition.

8. On March 28, 2019, Applicant emailed Opposer its willingness to defend its

Notices of Deposition and also informed Opposer of its willingness to pursue other options to get

the desired testimony. A true and correct copy of a printout can be found in Exhibit F.

9. On April 1, 2019, Opposer offered Evan Bonnstetter as a witness in place of the

individuals Applicant noticed for deposition. A true and correct copy of a printout can be found

in Exhibit G. Jared Sine, the publicly-disclosed legal representative, did not offer a witness in place of the individuals Applicant noticed for deposition.

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10. On April 2, 2019, the Applicant emailed Opposer asking Opposer to confirm (a)

Mr. Bonstetter’s legal authorization to answer on behalf of the individuals that Applicant noticed for deposition and (b) his knowledge of the subject matter of each of the deposition questions previously submitted. A true and correct copy of a printout can be found in Exhibits B-1-B-5 and H.

11. On April 4, 2019, Opposer emailed Applicant regarding with Mr. Bonstetter’s background, but failed to confirm (a) Mr. Bonstetter’s legal authorization to answer on behalf of the individuals that Applicant noticed for deposition and (b) his knowledge of the subject matter of each of the deposition questions previously submitted. A true and correct copy of a printout can be found in Exhibit I. Jared Sine, the publicly-disclosed legal representative, did not offer a witness in place of the individuals Applicant noticed for deposition.

12. On April 5, 2019, Applicant emailed Opposer and Jared Sine, the publicly-

disclosed legal representative (A true and correct copy of a printout can be found in Exhibit J),

offering its willingness to pursue other options to get the desired testimony, including affidavits

and declarations from the individuals that Applicant noticed for deposition that provide

testimony related to all of the deposition questions submitted on March 20, 2019 as well as

requesting confirmation that:

a. MGI will not comply with Applicant’s Notices of Deposition; b. Mr. Bonnstetter is not: i. Legally authorized to answer Applicant’s deposition questions on behalf of the individuals that Applicant noticed for deposition and ii. Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019. c. MGI will provide Applicant with the name of a deponent that is: i. Legally authorized to answer Applicant’s deposition questions on behalf of the individuals that Applicant noticed for deposition and ii. Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019

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13. On April 8, 2019, Opposer emailed Applicant its contention that the Notices were improper and again failed to offer a witness in place of the individuals Applicant noticed for deposition that was legally authorized to speak on said individuals behalf or knowledgeable of the subject matter of the deposition questions. A true and correct copy of a printout can be found in Exhibit K.

14. On April 8, 2019, Applicant emailed Opposer’s Attorney requesting clarification of its representation of MGI and the individuals noticed for deposition. A true and correct copy of a printout can be found in Exhibit L.

15. On April 10, 2019, Opposer emailed Applicant stating that “these individuals are officers and employees of party-Opponent Match Group.” A true and correct copy of a printout can be found in Exhibit M.

16. On April 12, 2019, Applicant emailed Opposer’s Attorney requesting the names

of the officers and employees of party-opponent, Match Group, LLC that were among the

individuals noticed for deposition as well as any update to the legal representative for the

individuals noticed for deposition. A true and correct copy of a printout can be found in Exhibit

N.

17. On April 18, 2019, Applicant emailed Opposer explaining that the Notices of

Deposition are proper; that the individuals noticed for deposition have unique, first-hand knowledge of the subject matter of each of the deposition questions submitted on March 20,

2019; and reiterated its willingness to pursue other options to get the desired testimony. Exhibit

O.

18. On April 18, 2019, Applicant emailed Jared Sine, the publicly-disclosed legal representative and copied Opposer (A true and correct copy of a printout can be found in Exhibit

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P), offering to resolve the outstanding testimonial depositions and requesting that Mr. Sine provide Applicant with the contact information for any designated outside counsel to handle matters related to the individuals noticed for deposition. Jared Sine, the publicly-disclosed legal representative, did not respond to Applicant’s April 18, 2019 email.

19. On April 19, 2019, Opposer’s Attorney emailed Applicant confirming that it was counsel of record for Match Group, LLC, including its employees, and refusing make the noticed witnesses available for deposition. Opposer’s Attorney did not confirm that it was counsel for

MGI or the individuals noticed for deposition. A true and correct copy of a printout can be found in Exhibit Q.

20. On April 19, 2019, Applicant emailed Opposer Attorney disputing various false claims made by Opposer. A true and correct copy of a printout can be found in Exhibit R.

21. Attached as Exhibit S (emphasis added) is true and correct copy of a printout of

Amanda W. Ginsberg’s employment agreement with MGI https://www.sec.gov/Archives/edgar/data/1575189/000157518918000047/mtch8- k20180726ex101.htm

22. Attached as Exhibit T (emphasis added) is true and correct copy of a printout of

Gary Swidler’s employment agreement with MGI https://www.sec.gov/Archives/edgar/data/1575189/000157518918000056/mtch8- k20180814ex101.htm

23. Attached as Exhibit U is true and correct copy of a printout of MGI’s Form-10-K for the fiscal year ended December 31, 2018 http://d18rn0p25nwr6d.cloudfront.net/CIK-

0001575189/76f700ec-198b-4870-a18c-4d107a1910d9.pdf

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24. Attached as Exhibit V is true and correct copy of a printout of MGI’s Schedule

14A filed April 30, 2019 http://d18rn0p25nwr6d.cloudfront.net/CIK-0001575189/6ad7e8e2-

8654-438d-bcff-d920e29ec434.pdf

25. Attached as Exhibit W (emphasis added) is true and correct copy of a printout of the Amended And Restated By-Laws Of Match Group, Inc. https://www.sec.gov/Archives/edgar/data/1575189/000110465915081175/a15-

23820_4ex3d2.htm

The undersigned, being hereby warned that willful false statements and the like so made are punishable by fine or imprisonment, or both, under 18 U.S.C. § 1001, and that such willful false statements may jeopardize the validity of the current cancellation proceeding, declares that all statements made of his or her own knowledge are true and that statements made on information are believed to be true.

Dated: May 5, 2019 By: /Ramona Prioleau/

Ramona Prioleau Founder

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DECLARATION OF RAMONA PRIOLEAU

EXHIBIT A

RLP 1 

                    

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 RLP 2 

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 RLP 3 

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 RLP 4 

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 RLP 5 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT B-1

RLP 6 IN THE UNITED STATES PATENT AND TRADEMARK OFFICE BEFORE THE TRADEMARK TRIAL AND APPEAL BOARD

MATCH GROUP, LLC (successor-in-interest to TINDER, INC.)

Opposer,

Opposition No. 91230917 v.

RLP VENTURES, LLC

Applicant.

NOTICE TO TAKE DEPOSITION OF AMANDA W. GINSBERG UPON WRITTEN QUESTIONS

Please take notice that, pursuant to Trademark Rule 2.124, 37 C.F.R. § 2.124, and Rule

28 of the Federal Rules of Civil Procedure, Applicant RLP Ventures, LLC (“Applicant”), will take the testimonial deposition on written questions of

Amanda W. Ginsberg. Chief Executive Officer of Match Group, Inc., c/o Jared Sine,

General Counsel, Match Group, Inc., 8750 North Central Expressway, Suite 1400,

Dallas, Texas 75231 in connection with the above-captioned proceeding. The deposition will commence on Thursday,

April 4, 2019 at 10:00 am at TSG Reporting, Inc., 747 Third Avenue, New York, NY 10017, or at such time and place as may be agreed to by the parties. The deposition will continue thereafter until completed.

The deposition will be taken before a person authorized to administer oaths in the jurisdiction where the deposition is to be held from the office of TSG Reporting, Inc. Further, pursuant to Rule 2.124(b)(1) of the Trademark Rules of Practice, copies of Applicant’s direct

RLP 7 questions are attached to Opposer’s copy of this notice as well as that of Deponent’s attorney, but not to the copy filed with the Trademark Trial and Appeal Board. Applicant reserves the right to use any information produced through the deposition process in evidence at trial or for other such purposes as may be permitted under the Federal Rules of Civil Procedure, the Federal

Rules of the Evidence, and/or the rules of the Trademark Trial and Appeal Board.

Respectfully submitted,

Dated: March 20, 2019 By: /Ramona Prioleau/

Ramona Prioleau RLP Ventures, LLC Times Square Station P.O. Box 2605 New York, NY 10108-2605 [email protected]

APPLICANT

2

RLP 8 CERTIFICATE OF SERVICE

I hereby certify that a true and accurate copy of this foregoing Notice to Take Deposition upon Written Questions was served by email to the attorney for the Opposer on the date listed below:

Jonathan D. Reichman, Esq. Hunton Andrews Kurth LLP [email protected] [email protected] [email protected]

I hereby certify that a true and accurate copy of this foregoing Notice to Take Deposition upon Written Questions was served by email and United States Postal Service to the attorney for the Deponent on the date listed below:

Jared Sine General Counsel Match Group, Inc. 8750 North Central Expressway, Suite 1400 Dallas, Texas 75231 [email protected]

Dated: March 20, 2019 By: /Ramona Prioleau/ Ramona Prioleau

RLP 9 Written Deposition Questions Amanda W. Ginsberg – April 4, 2019

Question 1. What is your name? A.

Question 2. What is your home address? A.

Question 3. Do you understand that you are testifying under oath today as though testifying before an open court? A.

Question 4. Is there any reason why you cannot answer questions fully and truthfully today? A.

Question 5. Are you taking any medication or under the influence of any substance that would impair your ability to testify today? A.

Question 6. You may object to a question, but after the objection is stated, unless the objection concerns the attorney client privilege, you must answer the question. The court reporter will take down your verbal answers only. So it is important that you speak slowly and clearly so the record is clear. Do you understand why you are here today? A.

Question 7. Do you understand you are here to provide trial testimony in the matter of MATCH GROUP, LLC versus RLP Ventures, LLC, Opposition No. 91230917 presently pending before the Trademark Trial and Appeal Board? A.

1

RLP 10 Question 8. Do you understand that you are here to provide your personal testimony regarding the issues related to this proceeding? A.

Question 9. Have you ever been deposed before? A.

Question 10. Have you spoken to anyone about today's deposition? A.

Question 11. Have you reviewed any documents in preparation for this deposition? A.

Question 12. So since high school, can you list or identify each educational institution you attended? A.

Question 13. Can you identify any degree, license, or certification that you received at each education institution mentioned previously? A.

Question 14. While at each school mentioned previously, what was your major? A.

Question 15. Since high school. Starting in chronological order with your first job after graduating high school, describe each job for which you were paid a wage? A.

Question 16. To confirm, are you the Chief Executive Officer of Match Group, Inc.? A.

2

RLP 11

Question 17. As Chief Executive Officer of Match Group, Inc., are you familiar with the operations of Match Group, Inc. and its subsidiaries? A.

Question 18. Is Match Group, Inc. a company that is registered with the Securities and Exchange Commission? A.

Question 19. Would you consider yourself experienced or knowledgeable in complying with the Securities Exchange Act of 1934 as it relates to Match Group, Inc.’s Form 10-K? A.

Question 20. I refer you to Attachment A which is a true and correct copy of Match Group, Inc.’s Form 10-K for the fiscal year ended December 31, 2018 as downloaded from http://d18rn0p25nwr6d.cloudfront.net/CIK-0001575189/76f700ec-198b-4870-a18c- 4d107a1910d9.pdf, do you recognize Attachment A as a copy of the Form 10-K of Match Group, Inc. for the fiscal year ended December 31, 2018? A.

Question 21. I refer you to Attachment A, Exhibit 21.1. On the second page of Exhibit 21.1, the second line, do you recognize the name of the entity, Match Group, LLC, as a subsidiary of Match Group, Inc.? A.

Question 22. To your knowledge, what business does Match Group, LLC engage in? A.

Question 23. I refer you to Attachment A, Exhibit 31.1, entitled “Certification”. Do you recognize the Certification in Exhibit 31.1? A.

3

RLP 12

Question 24. I refer you to Attachment A, Exhibit 31.1, entitled “Certification”. Are you the “Amanda W. Ginsberg” referred to in the Certification in Exhibit 31.1? A.

Question 25. I refer you to Attachment A, Exhibit 31.1, entitled “Certification”. To your knowledge, was the Certification in Exhibit 31.1 true and accurate as of February 28, 2019, the date the Certification was filed with the Securities and Exchange Commission? A.

Question 26. I refer you to Attachment A, Exhibit 31.1, entitled “Certification”. To your knowledge, is the Certification in Exhibit 31.1 true and accurate as of today’s date? A.

Question 27. I refer you to Attachment A, Exhibit 31.1, entitled “Certification”. Did you authorize the electronic signing of your name on the Certification in Exhibit 31.1? A.

Question 28. I refer you to Attachment A, Exhibit 32.1, entitled “Certification Pursuant to 18 U.S.C. SECTION 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002”. Do you recognize the certification in Exhibit 32.1? A.

Question 29. I refer you to Attachment A, Exhibit 32.1, entitled “Certification Pursuant to 18 U.S.C. SECTION 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002”. Are you the “Amanda W. Ginsberg” referred to in the Certification in Exhibit 32.1? A.

Question 30. I refer you to Attachment A, Exhibit 32.1, entitled “Certification Pursuant to 18 U.S.C. SECTION 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002”. To your knowledge, was the Certification in Exhibit 32.1 true and accurate as of

4

RLP 13 February 28, 2019, the date the Certification was filed with the Securities and Exchange Commission? A.

Question 31. I refer you to Attachment A, Exhibit 32.1, entitled “Certification Pursuant to 18 U.S.C. SECTION 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002”. To your knowledge, is the Certification in Exhibit 32.1 true and accurate as of today’s date? A.

Question 32. I refer you to Attachment A, Exhibit 32.1, entitled “Certification Pursuant to 18 U.S.C. SECTION 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002”. Did you authorize the electronic signing of your name on the Certification in Exhibit 32.1? A.

Question 33. I refer you to Attachment A, page 106, the section entitled “Signatures.” With reference to the “Amanda W. Ginsberg” line, are you the “Amanda W. Ginsberg” referred to on the Signature page of Match Group, Inc.’s Form 10-K, page 106? A.

Question 34. I refer you to Attachment A, page 106, the section entitled “Signatures.” With reference to the “Amanda W. Ginsberg” line, did you authorize the electronic signing of your name on Match Group, Inc.’s Form 10-K, page 106? A.

Question 35. I refer you to Attachment A, page 3, Part I, Item 1 Business, Who we are. The first paragraph reads: Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match,

5

RLP 14 PlentyOfFish, , OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. To your knowledge, was that paragraph true and accurate as of February 28, 2019, the date the Form 10-K was filed with the Securities and Exchange Commission? A.

Question 36. I refer you to Attachment A, page 3, Part I, Item 1 Business, Who we are. The first paragraph reads: Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. To your knowledge, is that paragraph true and accurate as of today’s date? A.

Question 37. To your knowledge, is the description of Match Group, Inc. as a “leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate” in Attachment A, page 3, “Part I, Item 1 Business, Who we are” a material fact about Match Group, Inc.? A.

Question 38. Again referring to Attachment A, page 3, “Part I, Item 1 Business, Who we are,” do you recognize the brand referred to in that paragraph as Tinder? A.

Question 39. To your knowledge, is Tinder a dating product?

6

RLP 15 A.

Question 40. To your knowledge, is Tinder a politics service? A.

Question 41. To your knowledge, is Tinder advertised to consumers as a dating product? A.

Question 42. To your knowledge, is Tinder advertised to consumers as a politics service? A.

Question 43. To your knowledge, does Tinder plan to become a politics service? A.

Question 44. To your knowledge, has Match Group, Inc. disclosed to the Securities and Exchange Commission that Tinder is a dating product? A.

Question 45. To your knowledge, has Match Group, Inc. disclosed to the Securities and Exchange Commission that Tinder is a politics service? A.

Question 46. To your knowledge, has Match Group, Inc. disclosed to the public that Tinder is a dating product? A.

Question 47. To your knowledge, has Match Group, Inc. disclosed to the public that Tinder is a politics service? A.

7

RLP 16 Question 48. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the line items detailed in the Results of Operations for each year, are the results of operations for the Tinder brand included in the data on page 37 of Attachment A? A.

Question 49. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, what percentage of the 2018 revenue number relates to Match Group, Inc.’s dating products? A.

Question 50. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount of Total Revenue for 2018 is stated as $1,729,850. What percentage of that 2018 Total Revenue number relates to Match Group, Inc.’s politics service? A.

Question 51. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, what percentage of the 2018 revenue number relates to Tinder’s dating product? A.

Question 52. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount of Total Revenue for 2018 is stated as $1,729,850. What percentage of that 2018 Total Revenue number relates to Tinder’s politics service? A.

Question 53. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue”

8

RLP 17 line item, the amount in 2017 is $ 1,330,661. What percentage of that 2017 revenue number relates to Match Group, Inc.’s dating products? A.

Question 54. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that revenue number relates to Match Group, Inc.’s politics service? A.

Question 55. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that 2017 revenue number relates to Tinder’s dating product? A.

Question 56. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that revenue number relates to Tinder’s politics service? A.

Question 57. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Match Group, Inc.’s dating products? A.

Question 58. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue”

9

RLP 18 line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Match Group, Inc.’s politics service? A.

Question 59. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that 2016 revenue number relates to Tinder’s dating product? A.

Question 60. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Tinder’s politics service? A.

Question 61. With regards to the answers provided during this deposition, are there any documents that support any of your answers to the questions asked today? If so, what are those documents? A.

CONCLUSION

10

RLP 19 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT B-2

RLP 20 IN THE UNITED STATES PATENT AND TRADEMARK OFFICE BEFORE THE TRADEMARK TRIAL AND APPEAL BOARD

MATCH GROUP, LLC (successor-in-interest to TINDER, INC.)

Opposer,

Opposition No. 91230917 v.

RLP VENTURES, LLC

Applicant.

NOTICE TO TAKE DEPOSITION OF GARY SWIDLER UPON WRITTEN QUESTIONS

Please take notice that, pursuant to Trademark Rule 2.124, 37 C.F.R. § 2.124, and Rule

28 of the Federal Rules of Civil Procedure, Applicant RLP Ventures, LLC (“Applicant”), will take the testimonial deposition on written questions of

Gary Swidler. Chief Financial Officer of Match Group, Inc., c/o Jared Sine, General

Counsel, Match Group, Inc., 8750 North Central Expressway, Suite 1400, Dallas, Texas

75231 in connection with the above-captioned proceeding. The deposition will commence on Thursday,

April 4, 2019 at 10:00 am at TSG Reporting, Inc., 747 Third Avenue, New York, NY 10017, or at such time and place as may be agreed to by the parties. The deposition will continue thereafter until completed.

The deposition will be taken before a person authorized to administer oaths in the jurisdiction where the deposition is to be held from the office of TSG Reporting, Inc. Further, pursuant to Rule 2.124(b)(1) of the Trademark Rules of Practice, copies of Applicant’s direct

RLP 21 questions are attached to Opposer’s copy of this notice as well as that of Deponent’s attorney, but not to the copy filed with the Trademark Trial and Appeal Board. Applicant reserves the right to use any information produced through the deposition process in evidence at trial or for other such purposes as may be permitted under the Federal Rules of Civil Procedure, the Federal

Rules of the Evidence, and/or the rules of the Trademark Trial and Appeal Board.

Respectfully submitted,

Dated: March 20, 2019 By: /Ramona Prioleau/

Ramona Prioleau RLP Ventures, LLC Times Square Station P.O. Box 2605 New York, NY 10108-2605 [email protected]

APPLICANT

2

RLP 22 CERTIFICATE OF SERVICE

I hereby certify that a true and accurate copy of this foregoing Notice to Take Deposition upon Written Questions was served by email to the attorney for the Opposer on the date listed below:

Jonathan D. Reichman, Esq. Hunton Andrews Kurth LLP [email protected] [email protected] [email protected]

I hereby certify that a true and accurate copy of this foregoing Notice to Take Deposition upon Written Questions was served by email and United States Postal Service to the attorney for the Deponent on the date listed below:

Jared Sine General Counsel Match Group, Inc. 8750 North Central Expressway, Suite 1400 Dallas, Texas 75231 [email protected]

Dated: March 20, 2019 By: /Ramona Prioleau/ Ramona Prioleau

RLP 23 Written Deposition Questions Gary Swidler – April 4, 2019

Question 1. What is your name? A.

Question 2. What is your home address? A.

Question 3. Do you understand that you are testifying under oath today as though testifying before an open court? A.

Question 4. Is there any reason why you cannot answer questions fully and truthfully today? A.

Question 5. Are you taking any medication or under the influence of any substance that would impair your ability to testify today? A.

Question 6. You may object to a question, but after the objection is stated, unless the objection concerns the attorney client privilege, you must answer the question. The court reporter will take down your verbal answers only. So it is important that you speak slowly and clearly so the record is clear. Do you understand why you are here today? A.

Question 7. Do you understand you are here to provide trial testimony in the matter of MATCH GROUP, LLC versus RLP Ventures, LLC, Opposition No. 91230917 presently pending before the Trademark Trial and Appeal Board? A.

1

RLP 24 Question 8. Do you understand that you are here to provide your personal testimony regarding the issues related to this proceeding? A.

Question 9. Have you ever been deposed before? A.

Question 10. Have you spoken to anyone about today's deposition? A.

Question 11. Have you reviewed any documents in preparation for this deposition? A.

Question 12. So since high school, can you list or identify each educational institution you attended? A.

Question 13. Can you identify any degree, license, or certification that you received at each education institution mentioned previously? A.

Question 14. While at each school mentioned previously, what was your major? A.

Question 15. Since high school. Starting in chronological order with your first job after graduating high school, describe each job for which you were paid a wage? A.

Question 16. To confirm, are you the Chief Financial Officer of Match Group, Inc.? A.

2

RLP 25

Question 17. As Chief Financial Officer of Match Group, Inc., are you familiar with the operations of Match Group, Inc. and its subsidiaries? A.

Question 18. Is Match Group, Inc. a company that is registered with the Securities and Exchange Commission? A.

Question 19. Would you consider yourself experienced or knowledgeable in complying with the Securities Exchange Act of 1934 as it relates to Match Group, Inc.’s Form 10-K? A.

Question 20. I refer you to Attachment A which is a true and correct copy of Match Group, Inc.’s Form 10-K for the fiscal year ended December 31, 2018 as downloaded from http://d18rn0p25nwr6d.cloudfront.net/CIK-0001575189/76f700ec-198b-4870-a18c- 4d107a1910d9.pdf, do you recognize Attachment A as a copy of the Form 10-K of Match Group, Inc. for the fiscal year ended December 31, 2018? A.

Question 21. I refer you to Attachment A, Exhibit 21.1. On the second page of Exhibit 21.1, the second line, do you recognize the name of the entity, Match Group, LLC, as a subsidiary of Match Group, Inc.? A.

Question 22. To your knowledge, what business does Match Group, LLC engage in? A.

Question 23. I refer you to Attachment A, Exhibit 31.2, entitled “Certification”. Do you recognize the Certification in Exhibit 31.2? A.

3

RLP 26

Question 24. I refer you to Attachment A, Exhibit 31.2, entitled “Certification”. Are you the “Gary Swidler” referred to in the Certification in Exhibit 31.2? A.

Question 25. I refer you to Attachment A, Exhibit 31.2, entitled “Certification”. To your knowledge, was the Certification in Exhibit 31.2 true and accurate as of February 28, 2019, the date the Certification was filed with the Securities and Exchange Commission? A.

Question 26. I refer you to Attachment A, Exhibit 31.2, entitled “Certification”. To your knowledge, is the Certification in Exhibit 31.2 true and accurate as of today’s date? A.

Question 27. I refer you to Attachment A, Exhibit 31.2, entitled “Certification”. Did you authorize the electronic signing of your name on the Certification in Exhibit 31.2? A.

Question 28. I refer you to Attachment A, Exhibit 32.2, entitled “Certification Pursuant to 18 U.S.C. SECTION 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002”. Do you recognize the certification in Exhibit 32.2? A.

Question 29. I refer you to Attachment A, Exhibit 32.2, entitled “Certification Pursuant to 18 U.S.C. SECTION 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002”. Are you the “Gary Swidler” referred to in the Certification in Exhibit 32.2? A.

Question 30. I refer you to Attachment A, Exhibit 32.2, entitled “Certification Pursuant to 18 U.S.C. SECTION 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002”. To your knowledge, was the Certification in Exhibit 32.2 true and accurate as of

4

RLP 27 February 28, 2019, the date the Certification was filed with the Securities and Exchange Commission? A.

Question 31. I refer you to Attachment A, Exhibit 32.2, entitled “Certification Pursuant to 18 U.S.C. SECTION 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002”. To your knowledge, is the Certification in Exhibit 32.2 true and accurate as of today’s date? A.

Question 32. I refer you to Attachment A, Exhibit 32.2, entitled “Certification Pursuant to 18 U.S.C. SECTION 1350, as Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002”. Did you authorize the electronic signing of your name on the Certification in Exhibit 32.2? A.

Question 33. I refer you to Attachment A, page 106, the section entitled “Signatures.” With reference to the “Gary Swidler” line, are you the “Gary Swidler” referred to on the Signature page of Match Group, Inc.’s Form 10-K, page 106? A.

Question 34. I refer you to Attachment A, page 106, the section entitled “Signatures.” With reference to the “Gary Swidler” line, did you authorize the electronic signing of your name on Match Group, Inc.’s Form 10-K, page 106? A.

Question 35. I refer you to Attachment A, page 3, Part I, Item 1 Business, Who we are. The first paragraph reads: Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match,

5

RLP 28 PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. To your knowledge, was that paragraph true and accurate as of February 28, 2019, the date the Form 10-K was filed with the Securities and Exchange Commission? A.

Question 36. I refer you to Attachment A, page 3, Part I, Item 1 Business, Who we are. The first paragraph reads: Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. To your knowledge, is that paragraph true and accurate as of today’s date? A.

Question 37. To your knowledge, is the description of Match Group, Inc. as a “leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate” in Attachment A, page 3, “Part I, Item 1 Business, Who we are” a material fact about Match Group, Inc.? A.

Question 38. Again referring to Attachment A, page 3, “Part I, Item 1 Business, Who we are,” do you recognize the brand referred to in that paragraph as Tinder? A.

Question 39. To your knowledge, is Tinder a dating product?

6

RLP 29 A.

Question 40. To your knowledge, is Tinder a politics service? A.

Question 41. To your knowledge, is Tinder advertised to consumers as a dating product? A.

Question 42. To your knowledge, is Tinder advertised to consumers as a politics service? A.

Question 43. To your knowledge, does Tinder plan to become a politics service? A.

Question 44. To your knowledge, has Match Group, Inc. disclosed to the Securities and Exchange Commission that Tinder is a dating product? A.

Question 45. To your knowledge, has Match Group, Inc. disclosed to the Securities and Exchange Commission that Tinder is a politics service? A.

Question 46. To your knowledge, has Match Group, Inc. disclosed to the public that Tinder is a dating product? A.

Question 47. To your knowledge, has Match Group, Inc. disclosed to the public that Tinder is a politics service? A.

7

RLP 30 Question 48. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the line items detailed in the Results of Operations for each year, are the results of operations for the Tinder brand included in the data on page 37 of Attachment A? A.

Question 49. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, what percentage of the 2018 revenue number relates to Match Group, Inc.’s dating products? A.

Question 50. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount of Total Revenue for 2018 is stated as $1,729,850. What percentage of that 2018 Total Revenue number relates to Match Group, Inc.’s politics service? A.

Question 51. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, what percentage of the 2018 revenue number relates to Tinder’s dating product? A.

Question 52. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount of Total Revenue for 2018 is stated as $1,729,850. What percentage of that 2018 Total Revenue number relates to Tinder’s politics service? A.

Question 53. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue”

8

RLP 31 line item, the amount in 2017 is $ 1,330,661. What percentage of that 2017 revenue number relates to Match Group, Inc.’s dating products? A.

Question 54. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that revenue number relates to Match Group, Inc.’s politics service? A.

Question 55. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that 2017 revenue number relates to Tinder’s dating product? A.

Question 56. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that revenue number relates to Tinder’s politics service? A.

Question 57. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Match Group, Inc.’s dating products? A.

Question 58. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue”

9

RLP 32 line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Match Group, Inc.’s politics service? A.

Question 59. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that 2016 revenue number relates to Tinder’s dating product? A.

Question 60. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Tinder’s politics service? A.

Question 61. With regards to the answers provided during this deposition, are there any documents that support any of your answers to the questions asked today? If so, what are those documents? A.

CONCLUSION

10

RLP 33 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT B-3

RLP 34 IN THE UNITED STATES PATENT AND TRADEMARK OFFICE BEFORE THE TRADEMARK TRIAL AND APPEAL BOARD

MATCH GROUP, LLC (successor-in-interest to TINDER, INC.)

Opposer,

Opposition No. 91230917 v.

RLP VENTURES, LLC

Applicant.

NOTICE TO TAKE DEPOSITION OF ALAN G. SPOON UPON WRITTEN QUESTIONS

Please take notice that, pursuant to Trademark Rule 2.124, 37 C.F.R. § 2.124, and Rule

28 of the Federal Rules of Civil Procedure, Applicant RLP Ventures, LLC (“Applicant”), will take the testimonial deposition on written questions of

Alan G. Spoon. Audit Committee Chair and Board Member of Match Group, Inc., c/o

Jared Sine, General Counsel, Match Group, Inc., 8750 North Central Expressway, Suite

1400, Dallas, Texas 75231 in connection with the above-captioned proceeding. The deposition will commence on Thursday,

April 4, 2019 at 10:00 am at TSG Reporting, Inc., 747 Third Avenue, New York, NY 10017, or at such time and place as may be agreed to by the parties. The deposition will continue thereafter until completed.

The deposition will be taken before a person authorized to administer oaths in the jurisdiction where the deposition is to be held from the office of TSG Reporting, Inc. Further, pursuant to Rule 2.124(b)(1) of the Trademark Rules of Practice, copies of Applicant’s direct

RLP 35 questions are attached to Opposer’s copy of this notice as well as that of Deponent’s attorney, but not to the copy filed with the Trademark Trial and Appeal Board. Applicant reserves the right to use any information produced through the deposition process in evidence at trial or for other such purposes as may be permitted under the Federal Rules of Civil Procedure, the Federal

Rules of the Evidence, and/or the rules of the Trademark Trial and Appeal Board.

Respectfully submitted,

Dated: March 20, 2019 By: /Ramona Prioleau/

Ramona Prioleau RLP Ventures, LLC Times Square Station P.O. Box 2605 New York, NY 10108-2605 [email protected]

APPLICANT

2

RLP 36 CERTIFICATE OF SERVICE

I hereby certify that a true and accurate copy of this foregoing Notice to Take Deposition upon Written Questions was served by email to the attorney for the Opposer on the date listed below:

Jonathan D. Reichman, Esq. Hunton Andrews Kurth LLP [email protected] [email protected] [email protected]

I hereby certify that a true and accurate copy of this foregoing Notice to Take Deposition upon Written Questions was served by email and United States Postal Service to the attorney for the Deponent on the date listed below:

Jared Sine General Counsel Match Group, Inc. 8750 North Central Expressway, Suite 1400 Dallas, Texas 75231 [email protected]

Dated: March 20, 2019 By: /Ramona Prioleau/ Ramona Prioleau

RLP 37 Written Deposition Questions Alan G. Spoon – April 4, 2019

Question 1. What is your name? A.

Question 2. What is your home address? A.

Question 3. Do you understand that you are testifying under oath today as though testifying before an open court? A.

Question 4. Is there any reason why you cannot answer questions fully and truthfully today? A.

Question 5. Are you taking any medication or under the influence of any substance that would impair your ability to testify today? A.

Question 6. You may object to a question, but after the objection is stated, unless the objection concerns the attorney client privilege, you must answer the question. The court reporter will take down your verbal answers only. So it is important that you speak slowly and clearly so the record is clear. Do you understand why you are here today? A.

Question 7. Do you understand you are here to provide trial testimony in the matter of MATCH GROUP, LLC versus RLP Ventures, LLC, Opposition No. 91230917 presently pending before the Trademark Trial and Appeal Board? A.

1

RLP 38 Question 8. Do you understand that you are here to provide your personal testimony regarding the issues related to this proceeding? A.

Question 9. Have you ever been deposed before? A.

Question 10. Have you spoken to anyone about today's deposition? A.

Question 11. Have you reviewed any documents in preparation for this deposition? A.

Question 12. So since high school, can you list or identify each educational institution you attended? A.

Question 13. Can you identify any degree, license, or certification that you received at each education institution mentioned previously? A.

Question 14. While at each school mentioned previously, what was your major? A.

Question 15. Since high school. Starting in chronological order with your first job after graduating high school, describe each job for which you were paid a wage? A.

Question 16. To confirm, are you the Audit Committee Chair and a Board Member of Match Group, Inc.?

2

RLP 39 A.

Question 17. As Audit Committee Chair and Board Member of Match Group, Inc., are you familiar with the operations of Match Group, Inc. and its subsidiaries? A.

Question 18. Is Match Group, Inc. a company that is registered with the Securities and Exchange Commission? A.

Question 19. Would you consider yourself experienced or knowledgeable in complying with the Securities Exchange Act of 1934 as it relates to an Audit Committee Chair and Board Member of Match Group, Inc.’s Form 10-K? A.

Question 20. I refer you to Attachment A which is a true and correct copy of Match Group, Inc.’s Form 10-K for the fiscal year ended December 31, 2018 as downloaded from http://d18rn0p25nwr6d.cloudfront.net/CIK-0001575189/76f700ec-198b-4870-a18c- 4d107a1910d9.pdf, do you recognize Attachment A as a copy of the Form 10-K of Match Group, Inc. for the fiscal year ended December 31, 2018? A.

Question 21. I refer you to Attachment A, Exhibit 21.1. On the second page of Exhibit 21.1, the second line, do you recognize the name of the entity, Match Group, LLC, as a subsidiary of Match Group, Inc.? A.

Question 22. To your knowledge, what business does Match Group, LLC engage in? A.

3

RLP 40 Question 23. I refer you to Attachment A, page 106, the section entitled “Signatures.” With reference to the “Alan G. Spoon” line, are you the “Alan G. Spoon” referred to on the Signature page of Match Group, Inc.’s Form 10-K, page 106? A.

Question 24. I refer you to Attachment A, page 106, the section entitled “Signatures.” With reference to the “Alan G. Spoon” line, did you authorize the electronic signing of your name on Match Group, Inc.’s Form 10-K, page 106? A.

Question 25. I refer you to Attachment A, page 3, Part I, Item 1 Business, Who we are. The first paragraph reads: Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. To your knowledge, was that paragraph true and accurate as of February 28, 2019, the date the Form 10-K was filed with the Securities and Exchange Commission? A.

Question 26. I refer you to Attachment A, page 3, Part I, Item 1 Business, Who we are. The first paragraph reads: Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a

4

RLP 41 meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. To your knowledge, is that paragraph true and accurate as of today’s date? A.

Question 27. To your knowledge, is the description of Match Group, Inc. as a “leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate” in Attachment A, page 3, “Part I, Item 1 Business, Who we are” a material fact about Match Group, Inc.? A.

Question 28. Again referring to Attachment A, page 3, “Part I, Item 1 Business, Who we are,” do you recognize the brand referred to in that paragraph as Tinder? A.

Question 29. To your knowledge, is Tinder a dating product? A.

Question 30. To your knowledge, is Tinder a politics service? A.

Question 31. To your knowledge, is Tinder advertised to consumers as a dating product? A.

Question 32. To your knowledge, is Tinder advertised to consumers as a politics service? A.

Question 33. To your knowledge, does Tinder plan to become a politics service? A.

5

RLP 42 Question 34. To your knowledge, has Match Group, Inc. disclosed to the Securities and Exchange Commission that Tinder is a dating product? A.

Question 35. To your knowledge, has Match Group, Inc. disclosed to the Securities and Exchange Commission that Tinder is a politics service? A.

Question 36. To your knowledge, has Match Group, Inc. disclosed to the public that Tinder is a dating product? A.

Question 37. To your knowledge, has Match Group, Inc. disclosed to the public that Tinder is a politics service? A.

Question 38. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the line items detailed in the Results of Operations for each year, are the results of operations for the Tinder brand included in the data on page 37 of Attachment A? A.

Question 39. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, what percentage of the 2018 revenue number relates to Match Group, Inc.’s dating products? A.

Question 40. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue”

6

RLP 43 line item, the amount of Total Revenue for 2018 is stated as $1,729,850. What percentage of that 2018 Total Revenue number relates to Match Group, Inc.’s politics service? A.

Question 41. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, what percentage of the 2018 revenue number relates to Tinder’s dating product? A.

Question 42. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount of Total Revenue for 2018 is stated as $1,729,850. What percentage of that 2018 Total Revenue number relates to Tinder’s politics service? A.

Question 43. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that 2017 revenue number relates to Match Group, Inc.’s dating products? A.

Question 44. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that revenue number relates to Match Group, Inc.’s politics service? A.

Question 45. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that 2017 revenue number relates to Tinder’s dating product?

7

RLP 44 A.

Question 46. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that revenue number relates to Tinder’s politics service? A.

Question 47. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Match Group, Inc.’s dating products? A.

Question 48. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Match Group, Inc.’s politics service? A.

Question 49. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that 2016 revenue number relates to Tinder’s dating product? A.

Question 50. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Tinder’s politics service? A.

8

RLP 45

Question 51. With regards to the answers provided during this deposition, are there any documents that support any of your answers to the questions asked today? If so, what are those documents? A.

CONCLUSION

9

RLP 46 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT B-4

RLP 47 IN THE UNITED STATES PATENT AND TRADEMARK OFFICE BEFORE THE TRADEMARK TRIAL AND APPEAL BOARD

MATCH GROUP, LLC (successor-in-interest to TINDER, INC.)

Opposer,

Opposition No. 91230917 v.

RLP VENTURES, LLC

Applicant.

NOTICE TO TAKE DEPOSITION OF PAMELA S. SEYMON UPON WRITTEN QUESTIONS

Please take notice that, pursuant to Trademark Rule 2.124, 37 C.F.R. § 2.124, and Rule

28 of the Federal Rules of Civil Procedure, Applicant RLP Ventures, LLC (“Applicant”), will take the testimonial deposition on written questions of

Pamela S. Seymon. Audit Committee and Board Member of Match Group, Inc., c/o Jared

Sine, General Counsel, Match Group, Inc., 8750 North Central Expressway, Suite 1400,

Dallas, Texas 75231

in connection with the above-captioned proceeding. The deposition will commence on Thursday,

April 4, 2019 at 10:00 am at TSG Reporting, Inc., 747 Third Avenue, New York, NY 10017, or

at such time and place as may be agreed to by the parties. The deposition will continue thereafter

until completed.

The deposition will be taken before a person authorized to administer oaths in the jurisdiction where the deposition is to be held from the office of TSG Reporting, Inc. Further, pursuant to Rule 2.124(b)(1) of the Trademark Rules of Practice, copies of Applicant’s direct

RLP 48 questions are attached to Opposer’s copy of this notice as well as that of Deponent’s attorney, but not to the copy filed with the Trademark Trial and Appeal Board. Applicant reserves the right to use any information produced through the deposition process in evidence at trial or for other such purposes as may be permitted under the Federal Rules of Civil Procedure, the Federal

Rules of the Evidence, and/or the rules of the Trademark Trial and Appeal Board.

Respectfully submitted,

Dated: March 20, 2019 By: /Ramona Prioleau/

Ramona Prioleau RLP Ventures, LLC Times Square Station P.O. Box 2605 New York, NY 10108-2605 [email protected]

APPLICANT

2

RLP 49 CERTIFICATE OF SERVICE

I hereby certify that a true and accurate copy of this foregoing Notice to Take Deposition upon Written Questions was served by email to the attorney for the Opposer on the date listed below:

Jonathan D. Reichman, Esq. Hunton Andrews Kurth LLP [email protected] [email protected] [email protected]

I hereby certify that a true and accurate copy of this foregoing Notice to Take Deposition upon Written Questions was served by email and United States Postal Service to the attorney for the Deponent on the date listed below:

Jared Sine General Counsel Match Group, Inc. 8750 North Central Expressway, Suite 1400 Dallas, Texas 75231 [email protected]

Dated: March 20, 2019 By: /Ramona Prioleau/ Ramona Prioleau

RLP 50 Written Deposition Questions Pamela S. Seymon – April 4, 2019

Question 1. What is your name? A.

Question 2. What is your home address? A.

Question 3. Do you understand that you are testifying under oath today as though testifying before an open court? A.

Question 4. Is there any reason why you cannot answer questions fully and truthfully today? A.

Question 5. Are you taking any medication or under the influence of any substance that would impair your ability to testify today? A.

Question 6. You may object to a question, but after the objection is stated, unless the objection concerns the attorney client privilege, you must answer the question. The court reporter will take down your verbal answers only. So it is important that you speak slowly and clearly so the record is clear. Do you understand why you are here today? A.

Question 7. Do you understand you are here to provide trial testimony in the matter of MATCH GROUP, LLC versus RLP Ventures, LLC, Opposition No. 91230917 presently pending before the Trademark Trial and Appeal Board? A.

1

RLP 51 Question 8. Do you understand that you are here to provide your personal testimony regarding the issues related to this proceeding? A.

Question 9. Have you ever been deposed before? A.

Question 10. Have you spoken to anyone about today's deposition? A.

Question 11. Have you reviewed any documents in preparation for this deposition? A.

Question 12. So since high school, can you list or identify each educational institution you attended? A.

Question 13. Can you identify any degree, license, or certification that you received at each education institution mentioned previously? A.

Question 14. While at each school mentioned previously, what was your major? A.

Question 15. Since high school. Starting in chronological order with your first job after graduating high school, describe each job for which you were paid a wage? A.

Question 16. To confirm, are you an Audit Committee Member and a Board Member of Match Group, Inc.?

2

RLP 52 A.

Question 17. As Audit Committee Member and Board Member of Match Group, Inc., are you familiar with the operations of Match Group, Inc. and its subsidiaries? A.

Question 18. Is Match Group, Inc. a company that is registered with the Securities and Exchange Commission? A.

Question 19. Would you consider yourself experienced or knowledgeable in complying with the Securities Exchange Act of 1934 as it relates to an Audit Committee Member and Board Member of Match Group, Inc.’s Form 10-K? A.

Question 20. I refer you to Attachment A which is a true and correct copy of Match Group, Inc.’s Form 10-K for the fiscal year ended December 31, 2018 as downloaded from http://d18rn0p25nwr6d.cloudfront.net/CIK-0001575189/76f700ec-198b-4870-a18c- 4d107a1910d9.pdf, do you recognize Attachment A as a copy of the Form 10-K of Match Group, Inc. for the fiscal year ended December 31, 2018? A.

Question 21. I refer you to Attachment A, Exhibit 21.1. On the second page of Exhibit 21.1, the second line, do you recognize the name of the entity, Match Group, LLC, as a subsidiary of Match Group, Inc.? A.

Question 22. To your knowledge, what business does Match Group, LLC engage in? A.

3

RLP 53 Question 23. I refer you to Attachment A, page 106, the section entitled “Signatures.” With reference to the “Pamela S. Seymon” line, are you the “Pamela S. Seymon” referred to on the Signature page of Match Group, Inc.’s Form 10-K, page 106? A.

Question 24. I refer you to Attachment A, page 106, the section entitled “Signatures.” With reference to the “Pamela S. Seymon” line, did you authorize the electronic signing of your name on Match Group, Inc.’s Form 10-K, page 106? A.

Question 25. I refer you to Attachment A, page 3, Part I, Item 1 Business, Who we are. The first paragraph reads: Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. To your knowledge, was that paragraph true and accurate as of February 28, 2019, the date the Form 10-K was filed with the Securities and Exchange Commission? A.

Question 26. I refer you to Attachment A, page 3, Part I, Item 1 Business, Who we are. The first paragraph reads: Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a

4

RLP 54 meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. To your knowledge, is that paragraph true and accurate as of today’s date? A.

Question 27. To your knowledge, is the description of Match Group, Inc. as a “leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate” in Attachment A, page 3, “Part I, Item 1 Business, Who we are” a material fact about Match Group, Inc.? A.

Question 28. Again referring to Attachment A, page 3, “Part I, Item 1 Business, Who we are,” do you recognize the brand referred to in that paragraph as Tinder? A.

Question 29. To your knowledge, is Tinder a dating product? A.

Question 30. To your knowledge, is Tinder a politics service? A.

Question 31. To your knowledge, is Tinder advertised to consumers as a dating product? A.

Question 32. To your knowledge, is Tinder advertised to consumers as a politics service? A.

Question 33. To your knowledge, does Tinder plan to become a politics service? A.

5

RLP 55 Question 34. To your knowledge, has Match Group, Inc. disclosed to the Securities and Exchange Commission that Tinder is a dating product? A.

Question 35. To your knowledge, has Match Group, Inc. disclosed to the Securities and Exchange Commission that Tinder is a politics service? A.

Question 36. To your knowledge, has Match Group, Inc. disclosed to the public that Tinder is a dating product? A.

Question 37. To your knowledge, has Match Group, Inc. disclosed to the public that Tinder is a politics service? A.

Question 38. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the line items detailed in the Results of Operations for each year, are the results of operations for the Tinder brand included in the data on page 37 of Attachment A? A.

Question 39. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, what percentage of the 2018 revenue number relates to Match Group, Inc.’s dating products? A.

Question 40. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue”

6

RLP 56 line item, the amount of Total Revenue for 2018 is stated as $1,729,850. What percentage of that 2018 Total Revenue number relates to Match Group, Inc.’s politics service? A.

Question 41. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, what percentage of the 2018 revenue number relates to Tinder’s dating product? A.

Question 42. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount of Total Revenue for 2018 is stated as $1,729,850. What percentage of that 2018 Total Revenue number relates to Tinder’s politics service? A.

Question 43. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that 2017 revenue number relates to Match Group, Inc.’s dating products? A.

Question 44. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that revenue number relates to Match Group, Inc.’s politics service? A.

Question 45. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that 2017 revenue number relates to Tinder’s dating product?

7

RLP 57 A.

Question 46. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that revenue number relates to Tinder’s politics service? A.

Question 47. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Match Group, Inc.’s dating products? A.

Question 48. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Match Group, Inc.’s politics service? A.

Question 49. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that 2016 revenue number relates to Tinder’s dating product? A.

Question 50. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Tinder’s politics service? A.

8

RLP 58

Question 51. With regards to the answers provided during this deposition, are there any documents that support any of your answers to the questions asked today? If so, what are those documents? A.

CONCLUSION

9

RLP 59 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT B-5

RLP 60 IN THE UNITED STATES PATENT AND TRADEMARK OFFICE BEFORE THE TRADEMARK TRIAL AND APPEAL BOARD

MATCH GROUP, LLC (successor-in-interest to TINDER, INC.)

Opposer,

Opposition No. 91230917 v.

RLP VENTURES, LLC

Applicant.

NOTICE TO TAKE DEPOSITION OF THOMAS J. MCINERNEY UPON WRITTEN QUESTIONS

Please take notice that, pursuant to Trademark Rule 2.124, 37 C.F.R. § 2.124, and Rule

28 of the Federal Rules of Civil Procedure, Applicant RLP Ventures, LLC (“Applicant”), will take the testimonial deposition on written questions of

Thomas J. McInerney. Audit Committee and Board Member of Match Group, Inc., c/o

Jared Sine, General Counsel, Match Group, Inc., 8750 North Central Expressway, Suite

1400, Dallas, Texas 75231 in connection with the above-captioned proceeding. The deposition will commence on Thursday,

April 4, 2019 at 10:00 am at TSG Reporting, Inc., 747 Third Avenue, New York, NY 10017, or at such time and place as may be agreed to by the parties. The deposition will continue thereafter until completed.

The deposition will be taken before a person authorized to administer oaths in the jurisdiction where the deposition is to be held from the office of TSG Reporting, Inc. Further, pursuant to Rule 2.124(b)(1) of the Trademark Rules of Practice, copies of Applicant’s direct

RLP 61 questions are attached to Opposer’s copy of this notice as well as that of Deponent’s attorney, but not to the copy filed with the Trademark Trial and Appeal Board. Applicant reserves the right to use any information produced through the deposition process in evidence at trial or for other such purposes as may be permitted under the Federal Rules of Civil Procedure, the Federal

Rules of the Evidence, and/or the rules of the Trademark Trial and Appeal Board.

Respectfully submitted,

Dated: March 20, 2019 By: /Ramona Prioleau/

Ramona Prioleau RLP Ventures, LLC Times Square Station P.O. Box 2605 New York, NY 10108-2605 [email protected]

APPLICANT

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RLP 62 CERTIFICATE OF SERVICE

I hereby certify that a true and accurate copy of this foregoing Notice to Take Deposition upon Written Questions was served by email to the attorney for the Opposer on the date listed below:

Jonathan D. Reichman, Esq. Hunton Andrews Kurth LLP [email protected] [email protected] [email protected]

I hereby certify that a true and accurate copy of this foregoing Notice to Take Deposition upon Written Questions was served by email and United States Postal Service to the attorney for the Deponent on the date listed below:

Jared Sine General Counsel Match Group, Inc. 8750 North Central Expressway, Suite 1400 Dallas, Texas 75231 [email protected]

Dated: March 20, 2019 By: /Ramona Prioleau/ Ramona Prioleau

RLP 63 Written Deposition Questions Thomas J. McInerney – April 4, 2019

Question 1. What is your name? A.

Question 2. What is your home address? A.

Question 3. Do you understand that you are testifying under oath today as though testifying before an open court? A.

Question 4. Is there any reason why you cannot answer questions fully and truthfully today? A.

Question 5. Are you taking any medication or under the influence of any substance that would impair your ability to testify today? A.

Question 6. You may object to a question, but after the objection is stated, unless the objection concerns the attorney client privilege, you must answer the question. The court reporter will take down your verbal answers only. So it is important that you speak slowly and clearly so the record is clear. Do you understand why you are here today? A.

Question 7. Do you understand you are here to provide trial testimony in the matter of MATCH GROUP, LLC versus RLP Ventures, LLC, Opposition No. 91230917 presently pending before the Trademark Trial and Appeal Board? A.

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RLP 64 Question 8. Do you understand that you are here to provide your personal testimony regarding the issues related to this proceeding? A.

Question 9. Have you ever been deposed before? A.

Question 10. Have you spoken to anyone about today's deposition? A.

Question 11. Have you reviewed any documents in preparation for this deposition? A.

Question 12. So since high school, can you list or identify each educational institution you attended? A.

Question 13. Can you identify any degree, license, or certification that you received at each education institution mentioned previously? A.

Question 14. While at each school mentioned previously, what was your major? A.

Question 15. Since high school. Starting in chronological order with your first job after graduating high school, describe each job for which you were paid a wage? A.

Question 16. To confirm, are you an Audit Committee Member and a Board Member of Match Group, Inc.?

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RLP 65 A.

Question 17. As Audit Committee Member and Board Member of Match Group, Inc., are you familiar with the operations of Match Group, Inc. and its subsidiaries? A.

Question 18. Is Match Group, Inc. a company that is registered with the Securities and Exchange Commission? A.

Question 19. Would you consider yourself experienced or knowledgeable in complying with the Securities Exchange Act of 1934 as it relates to an Audit Committee Member and Board Member of Match Group, Inc.’s Form 10-K? A.

Question 20. I refer you to Attachment A which is a true and correct copy of Match Group, Inc.’s Form 10-K for the fiscal year ended December 31, 2018 as downloaded from http://d18rn0p25nwr6d.cloudfront.net/CIK-0001575189/76f700ec-198b-4870-a18c- 4d107a1910d9.pdf, do you recognize Attachment A as a copy of the Form 10-K of Match Group, Inc. for the fiscal year ended December 31, 2018? A.

Question 21. I refer you to Attachment A, Exhibit 21.1. On the second page of Exhibit 21.1, the second line, do you recognize the name of the entity, Match Group, LLC, as a subsidiary of Match Group, Inc.? A.

Question 22. To your knowledge, what business does Match Group, LLC engage in? A.

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RLP 66 Question 23. I refer you to Attachment A, page 106, the section entitled “Signatures.” With reference to the “Thomas J. McInerney” line, are you the “Thomas J. McInerney” referred to on the Signature page of Match Group, Inc.’s Form 10-K, page 106? A.

Question 24. I refer you to Attachment A, page 106, the section entitled “Signatures.” With reference to the “Thomas J. McInerney” line, did you authorize the electronic signing of your name on Match Group, Inc.’s Form 10-K, page 106? A.

Question 25. I refer you to Attachment A, page 3, Part I, Item 1 Business, Who we are. The first paragraph reads: Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. To your knowledge, was that paragraph true and accurate as of February 28, 2019, the date the Form 10-K was filed with the Securities and Exchange Commission? A.

Question 26. I refer you to Attachment A, page 3, Part I, Item 1 Business, Who we are. The first paragraph reads: Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a

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RLP 67 meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. To your knowledge, is that paragraph true and accurate as of today’s date? A.

Question 27. To your knowledge, is the description of Match Group, Inc. as a “leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate” in Attachment A, page 3, “Part I, Item 1 Business, Who we are” a material fact about Match Group, Inc.? A.

Question 28. Again referring to Attachment A, page 3, “Part I, Item 1 Business, Who we are,” do you recognize the brand referred to in that paragraph as Tinder? A.

Question 29. To your knowledge, is Tinder a dating product? A.

Question 30. To your knowledge, is Tinder a politics service? A.

Question 31. To your knowledge, is Tinder advertised to consumers as a dating product? A.

Question 32. To your knowledge, is Tinder advertised to consumers as a politics service? A.

Question 33. To your knowledge, does Tinder plan to become a politics service? A.

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RLP 68 Question 34. To your knowledge, has Match Group, Inc. disclosed to the Securities and Exchange Commission that Tinder is a dating product? A.

Question 35. To your knowledge, has Match Group, Inc. disclosed to the Securities and Exchange Commission that Tinder is a politics service? A.

Question 36. To your knowledge, has Match Group, Inc. disclosed to the public that Tinder is a dating product? A.

Question 37. To your knowledge, has Match Group, Inc. disclosed to the public that Tinder is a politics service? A.

Question 38. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the line items detailed in the Results of Operations for each year, are the results of operations for the Tinder brand included in the data on page 37 of Attachment A? A.

Question 39. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, what percentage of the 2018 revenue number relates to Match Group, Inc.’s dating products? A.

Question 40. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue”

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RLP 69 line item, the amount of Total Revenue for 2018 is stated as $1,729,850. What percentage of that 2018 Total Revenue number relates to Match Group, Inc.’s politics service? A.

Question 41. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, what percentage of the 2018 revenue number relates to Tinder’s dating product? A.

Question 42. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount of Total Revenue for 2018 is stated as $1,729,850. What percentage of that 2018 Total Revenue number relates to Tinder’s politics service? A.

Question 43. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that 2017 revenue number relates to Match Group, Inc.’s dating products? A.

Question 44. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that revenue number relates to Match Group, Inc.’s politics service? A.

Question 45. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that 2017 revenue number relates to Tinder’s dating product?

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RLP 70 A.

Question 46. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2017 is $ 1,330,661. What percentage of that revenue number relates to Tinder’s politics service? A.

Question 47. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Match Group, Inc.’s dating products? A.

Question 48. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Match Group, Inc.’s politics service? A.

Question 49. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that 2016 revenue number relates to Tinder’s dating product? A.

Question 50. I refer you to Attachment A, page 37, the section entitled “Results of Operations for the years ended December 31, 2018, 2017 and 2016.” With reference to the “Total Revenue” line item, the amount in 2016 is $ 1,118,110. What percentage of that revenue number relates to Tinder’s politics service? A.

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Question 51. With regards to the answers provided during this deposition, are there any documents that support any of your answers to the questions asked today? If so, what are those documents? A.

CONCLUSION

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RLP 72 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT C

RLP 73 EX-10.2 3 mtch8-k20180814ex102 htm EMPLOYMENT AGREEMENT BETWEEN JARED SINE AND MATCH GROUP, INC. Exhibit 10.2

Execution Copy

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (“Agreement”) is entered by and between Jared Sine (“Executive”) and Match Group, Inc., a Delaware corporation (the “Company”) and is effective as of August 8, 2018 (the “Effective Date”).

WHEREAS, the Company desires to establish its right to the services of Executive, in the capacity described below, on the terms and conditions hereinafter set forth, and Executive is willing to accept such employment on such terms and conditions.

NOW, THEREFORE, in consideration of the mutual agreements hereinafter set forth, Executive and the Company have agreed and do hereby agree as follows:

1A. EMPLOYMENT. During the Term (as defined below), the Company shall employ Executive, and Executive shall be employed, as the General Counsel and Secretary of the Company; provided that Executive’s designation as Secretary shall be effective upon his appointment to such office by the Company’s Board of Directors. During Executive’s employment with the Company, Executive shall do and perform all services and acts necessary or advisable to fulfill the duties and responsibilities as are commensurate and consistent with Executive’s position and shall render such services on the terms set forth herein. During Executive’s employment with the Company, Executive shall report directly to the Chief Executive Officer of the Company (the “Reporting Officer”). Executive shall have such powers and duties with respect to the Company as may reasonably be assigned to Executive by the Reporting Officer, to the extent consistent with Executive’s position. Executive agrees to devote substantially all of Executive’s working time, attention and efforts to the Company and to perform the duties of Executive’s position in accordance with the Company’s written policies as in effect from time to time.

2A. TERM. This Agreement shall commence on the Effective Date and shall continue for a period of one (1) year. This Agreement shall automatically be renewed for successive one-year periods (ending on each anniversary of the Effective Date) unless one party hereto provides written notice to the other, at least ninety (90) days prior to the end of the then current one-year employment period, that it elects not to extend this Agreement, which notice shall be irrevocable (any such notice, a “Non-Renewal Notice”). The period beginning on the Effective Date and ending on the first anniversary hereof or, if the Agreement is renewed pursuant to the prior sentence, the last day of the last one-year renewal period, shall be referred to hereinafter as the “Term.” Notwithstanding any other provision in this Agreement to the contrary, Executive’s employment with the Company is “at will” and may be terminated at any time for any reason or no reason, with or without cause, by the Company or Executive. Executive’s rights to payments upon certain termination of employment is governed by Section 1 of the Standard Terms and Conditions attached hereto.

3A. COMPENSATION.

(a) BASE SALARY. During the period that Executive is employed with the Company hereunder, the Company shall pay Executive an annual base salary of $350,000 (the “Base

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Salary”), payable in equal biweekly installments (or, if different, in accordance with the Company’s payroll practice as in effect from time to time, but no less often than monthly). The Base Salary may be increased from time to time in the discretion of the Company. For all purposes under this Agreement, the term “Base Salary” shall refer to the Base Salary as in effect from time to time.

(b) DISCRETIONARY BONUS. During the period that Executive is employed with the Company hereunder, Executive shall be eligible to receive discretionary annual bonuses (payable at the same time as bonuses of other executives at the Company, but in no event later than March 15 of the year following the year with respect to which such bonuses are payable), as determined by the Compensation Committee of the Board, in consultation with the Reporting Officer.

(c) EQUITY AWARDS. Executive shall be eligible for future grants of equity awards by the Company from time to time during the Term, as determined by the Compensation Committee of the Board.

(d) BENEFITS. From the Effective Date through the date of termination of Executive’s employment with the Company for any reason, Executive shall be entitled to participate in any welfare, health and life insurance, pension benefit and incentive programs as may be adopted from time to time by the Company on the same basis as that provided to similarly situated senior executives of the Company. Without limiting the generality of the foregoing, Executive shall be entitled to the following benefits:

(i) Reimbursement for Business Expenses. During the period that Executive is employed with the Company hereunder, the Company shall reimburse Executive for all reasonable and necessary expenses incurred by Executive in performing Executive’s duties for the Company, on the same basis as similarly situated senior executives and in accordance with the Company’s policies as in effect from time to time; and

(ii) Vacation. During the period that Executive is employed with the Company hereunder, Executive shall be entitled to paid vacation each year, in accordance with the plans, policies, programs and practices of the Company applicable to similarly situated senior executives of the Company generally (but in any event, no less than four weeks per calendar year) .

4A. NOTICES. All notices and other communications under this Agreement shall be in writing and shall be given by first-class mail, certified or registered with return receipt requested, or by hand delivery, overnight delivery by a nationally recognized carrier, facsimile transmission or PDF, in each case to the applicable address set forth below (or, if by facsimile transmission or PDF, to a facsimile transmission number or email account provided by the other party), and any such notice is deemed effectively given when received by the recipient (or if receipt is refused by the recipient, when so refused):

If to the Company: Match Group, Inc.

8750 North Central Expressway Suite 1400 Dallas, TX 75231

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Attention: General Counsel

If to Executive: At the most recent address for Executive on file at the Company.

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

5A. GOVERNING LAW; JURISDICTION. This Agreement and the legal relations thus created between the parties hereto (including, without limitation, any dispute arising out of or related to this Agreement) shall be governed by and construed under and in accordance with the internal laws of the State of Texas without reference to its principles of conflicts of laws. Any such dispute will be heard exclusively and determined before an appropriate federal court located in the State of Texas, or an appropriate Texas state court located in Dallas County, and each party hereto submits itself and its property to the exclusive jurisdiction of the foregoing courts with respect to such disputes. Each party hereto (i) agrees that service of process may be made by mailing a copy of any relevant document to the address of the party set forth above, (ii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the courts referred to above on the grounds of inconvenient forum or otherwise as regards any dispute between the parties hereto arising out of or related to this Agreement, (iii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the laying of venue in the courts referred to above as regards any dispute between the parties hereto arising out of or related to this Agreement and (iv) agrees that a judgment or order of any court referred to above in connection with any dispute between the parties hereto arising out of or related to this Agreement is conclusive and binding on it and may be enforced against it in the courts of any other jurisdiction.

6A. COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

7A. STANDARD TERMS AND CONDITIONS. Executive expressly understands and acknowledges that the Standard Terms and Conditions attached hereto are incorporated herein by reference, deemed a part of this Agreement and are binding and enforceable provisions of this Agreement. References to “this Agreement” or the use of the term “hereof” shall refer to this Agreement and the Standard Terms and Conditions attached hereto, taken as a whole.

[The Signature Page Follows]

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RLP 76

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed and delivered by its duly authorized officer and Executive has executed and delivered this Agreement on August 8, 2018.

MATCH GROUP, INC.

/s/ Mandy Ginsberg By: Mandy Ginsberg Title: Chief Executive Officer

/s/ Jared Sine JARED SINE

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STANDARD TERMS AND CONDITIONS

1. TERMINATION OF EXECUTIVE’S EMPLOYMENT.

(a) DEATH. In the event Executive’s employment hereunder is terminated by reason of Executive’s death, the Company shall pay Executive’s designated beneficiary or beneficiaries, within thirty (30) days of Executive’s death (or such earlier date as may be required by law) in a lump sum in cash, (i) Executive’s Base Salary through the end of the month in which his death occurs and (ii) any Accrued Obligations (as defined in Section 1(f) below). In addition, any incentive equity or equity-linked awards in or relating to equity of the Company or its subsidiaries (e.g., restricted stock, restricted stock units, stock options, phantom stock or similar instruments) that are outstanding and unvested as of the date of such termination of employment and that would have vested at any time through the first anniversary of the date of the termination of Executive’s employment with the Company (the “Termination Date”) shall vest upon Executive’s death and shall be settled in accordance with their terms. Notwithstanding the foregoing, (A) any amounts that would vest under this provision but for the fact that outstanding performance conditions have not been satisfied shall vest only if, and at such point as, such performance conditions are satisfied, and (B) the terms of any future awards may be varied in the governing documents of such award.

(b) DISABILITY. If, as a result of Executive’s incapacity due to physical or mental illness (“Disability”), Executive shall have been absent from the full time performance of Executive’s duties with the Company for a period of four (4) consecutive months and, within thirty (30) days after written notice of a pending termination for Disability is provided to Executive by the Company (in accordance with Section 4A hereof), Executive shall not have been able to return to the full time performance of Executive’s duties, Executive’s employment under this Agreement may be terminated by the Company for Disability. During any period prior to such termination during which Executive is absent from the full-time performance of Executive’s duties with the Company due to Disability, the Company shall continue to pay Executive’s Base Salary at the rate in effect at the commencement of such period of Disability, offset by any amounts payable to Executive under any disability insurance plan or policy provided by the Company. Upon termination of Executive’s employment due to Disability, the Company shall pay Executive within thirty (30) days of such termination (or such earlier date as may be required by law) in a lump sum in cash (i) Executive’s Base Salary through the end of the month in which termination occurs, offset by any amounts payable to Executive under any disability insurance plan or policy provided by the Company; and (ii) any Accrued Obligations.

(c) TERMINATION FOR CAUSE; TERMINATION BY EXECUTIVE WITHOUT GOOD REASON. Upon the termination of Executive’s employment by the Company for Cause (as defined below) or by Executive without Good Reason (as defined below), the Company shall have no further obligation hereunder, except for the payment of any Accrued Obligations. As used herein, “Cause” shall mean: (i) the plea of guilty or nolo contendere to, or conviction for, a felony offense by Executive; provided, however, that (A) after indictment, the Company may suspend Executive from the rendition of services, but without limiting or modifying in any other way the Company’s obligations under this Agreement and (B) Executive’s employment shall be immediately reinstated if the indictment is dismissed or otherwise dropped and there is not otherwise

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grounds to terminate Executive’s employment for Cause; (ii) a material breach by Executive of a fiduciary duty owed to the Company; (iii) a material breach by Executive of any of the covenants made by Executive in Section 2 hereof; (iv) Executive’s continued willful failure to perform or gross neglect by Executive of the material duties required by this Agreement (other than any such failure resulting from incapacity due to physical or mental illness); or (v) a knowing and material violation by Executive of any material Company policy pertaining to ethics, wrongdoing or conflicts of interestt, which policy had been provided to Executive in writing or otherwise made generally available prior to such violation; provided, that in the case of conduct described in clauses (iii), (iv) or (v) above which is capable of being cured, Executive shall have a period of ten (10) days after Executive is provided with written notice (specifying in reasonable detail the acts or omissions believed to constitute Cause and the steps necessary to remedy such condition, if curable) in which to cure, which such notice specifically identifies the breach, the nature of the willful or gross neglect or the violation that the Company believes constitutes Cause.

(d) TERMINATION BY THE COMPANY OTHER THAN FOR DEATH, DISABILITY OR CAUSE OR RESIGNATION BY EXECUTIVE FOR GOOD REASON. If Executive’s employment hereunder is terminated prior to the expiration of the Term by the Company for any reason other than Executive’s death or Disability or for Cause, or if Executive terminates Executive’s employment hereunder prior to the expiration of the Term for Good Reason, then:

(i) the Company shall pay to Executive an amount equal to the Base Salary that would have been paid to Executive for the twelve (12) months from the Termination Date (the “Severance Period”) if Executive had remained employed during such period in the time and manner set forth below;

(ii) the Company shall pay Executive within thirty (30) days of the date of such termination in a lump sum in cash any Accrued Obligations;

(iii) any incentive equity or equity-linked awards in or relating to equity of the Company or its subsidiaries (e.g., restricted stock, restricted stock units, stock options, phantom stock or similar instruments), that are outstanding and unvested at the time of such termination of employment and that would have vested at any time through the first anniversary of the Termination Date, shall vest immediately upon such termination and shall be settled in accordance with their terms. Notwithstanding the foregoing, (1) any amounts that would vest under this provision but for the fact that outstanding performance conditions have not been satisfied shall vest only if, and at such point as, such performance conditions are satisfied, and (2) the terms of any future awards may be varied in the governing documents of such award; and

(iv) the Company shall, during the Severance Period, provide Executive with continued coverage under the Company’s group health plan, at the Company’s cost, or with an additional monthly payment in an amount necessary to cover the full premiums for continued healthcare coverage under the Company’s plans through COBRA, at the same coverage level as in effect for Executive as of the Termination Date. The payment under this clause (iv) shall be grossed up for applicable taxes. Notwithstanding the foregoing, in the event Executive obtains alternative employment during the Severance Period offering employer-paid healthcare coverage that is no less favorable than the benefits provided under the Company’s group health plan, Executive shall

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enroll in and obtain coverage under such new employer’s plan at the earliest opportunity and the Company’s obligations under this clause (iv) shall cease as of the effective date of such alternate coverage.

The payments and severance benefits described in Section 1(d), with the exception of Section 1(d)(ii), shall be subject to Executive’s compliance with the restrictive covenants set forth in Section 2 hereof and Executive’s execution within twenty-one (21) days following the Termination Date (or such longer period as may be required by applicable law) and non-revocation of a general release of the Company and its affiliates, in substantially the form annexed hereto as Exhibit A (the “Release”). Any severance benefits due to Executive pursuant to Section 1(d)(i) shall be paid in equal biweekly installments (or, if different, in accordance with the Company’s payroll practice as in effect immediately prior to the Executive’s Termination Date) over the course of the twelve (12) month period beginning on the first business day of the second month following the month in which Executive’s Separation from Service (as such term is defined in paragraph 7) took place (plus interest on the amount delayed from the Termination Date to the date payment begins at the then applicable borrowing rate of the Company as of the commencement of such delay). Any benefits due to Executive pursuant to Section 1(d)(iv) shall be paid through the Company’s payroll on the first regularly scheduled pay date of each month.

For purposes of this Agreement, “Good Reason” shall mean actions taken by the Company resulting in a material negative change in the employment relationship. For these purposes, a “material negative change in the employment relationship” shall include, without limitation, the occurrence of any of the following without Executive’s prior written consent: (A) a material reduction in Executive’s Base Salary, (B) a material reduction in Executive’s title, duties or level of responsibilities as compared to those existing as of the Effective Date, excluding for this purpose any such reduction that is an isolated and inadvertent action not taken in bad faith, but including any circumstances under which the Company is no longer publicly traded and is controlled by another company, (C) a material and adverse change in reporting structure such that Executive is no longer reporting directly to the Reporting Officer, (D) the relocation of Executive’s principal place of employment outside of the Dallas, Texas metropolitan area or (E) any material breach by the Company of this Agreement or any other written agreement between Executive and the Company or any Company affiliate; provided that in no event shall Executive’s resignation be for “Good Reason” unless (x) an event or circumstance constituting “Good Reason” shall have occurred and Executive provides the Company with written notice thereof within thirty (30) days after Executive has initial knowledge of the occurrence or existence of such event or circumstance, which notice specifically identifies the event or circumstance that Executive believes constitutes Good Reason, (y) the Company fails to correct the circumstance or event so identified within thirty (30) days after the receipt of such notice, and (z) Executive resigns within ninety (90) days after the date of delivery of the notice referred to in clause (x) above.

(e) OFFSET. If Executive obtains other employment during the period of time in which the Company is required to make payments to Executive pursuant to Section 1(d)(i) above, the amount of any such remaining payments or benefits to be provided to Executive shall be reduced by the amount of compensation and benefits earned by Executive from such other employment through the end of such period. For purposes of this Section 1(e), Executive shall have an obligation

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to inform the Company regarding Executive’s employment status following termination and during the period of time in which the Company is making payments to Executive under Section 1(d)(i) above.

(f) ACCRUED OBLIGATIONS. As used in this Agreement, “Accrued Obligations” shall mean the sum of (i) any portion of Executive’s accrued but unpaid Base Salary through the date of death or termination of employment for any reason, as the case may be; (ii) any unreimbursed business expenses; (iii) the value of any accrued and unused vacation days; and (iv) any compensation previously earned but deferred by Executive (together with any interest or earnings thereon) that has not yet been paid and that is not otherwise scheduled to be paid at a later date pursuant to any deferred compensation arrangement of the Company to which Executive is a party, if any (provided, that any election made by Executive pursuant to any deferred compensation arrangement that is subject to Section 409A regarding the schedule for payment of such deferred compensation shall prevail over this Section 1(f) to the extent inconsistent herewith).

(g) NON-RENEWAL. If the Company delivers a Non-Renewal Notice to Executive then, provided Executive’s employment hereunder continues through the expiration date then in effect, effective as of such expiration date, Executive’s employment with the Company automatically will terminate and the Company and Executive shall have the same rights and obligations hereunder as they would if the Company had terminated Executive’s employment hereunder at the end of the Term for any reason other than Executive’s death, Disability or for Cause.

(h) RESIGNATION FROM ALL POSITIONS. Notwithstanding any other provision of this Agreement, upon the termination of Executive’s employment for any reason, unless otherwise requested by the Board, Executive shall immediately resign as of the Termination Date from all positions that Executive holds with the Company and any of its subsidiaries, including, without limitation, all boards of directors of any subsidiary of the Company or any parent company of the Company. Executive hereby agrees to execute any and all documentation to effectuate such resignations upon request by the Company.

(i) POST-TERMINATION EXERCISE PERIOD FOR STOCK OPTIONS. In the event of Executive’s termination of employment for any reason other than a termination of employment for Cause, any vested options to purchase Company stock, subsidiary stock or parent stock (including options vesting as a result of an acceleration of vesting upon a termination of employment without Cause or for Good Reason), shall remain exercisable through the date that is six (6) months following the Termination Date or, if earlier, through the scheduled expiration date of such options.

2. CONFIDENTIAL INFORMATION; NON-COMPETITION; NON-SOLICITATION; AND PROPRIETARY RIGHTS.

(a) CONFIDENTIALITY. Executive acknowledges that, while employed by the Company, Executive will occupy a position of trust and confidence. The Company, its subsidiaries and/or affiliates shall provide Executive with “Confidential Information” as referred to below. Executive shall not, except as Executive in good faith deems appropriate to perform Executive’s duties hereunder or as required by applicable law or regulation, governmental investigation,

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subpoena, or in connection with enforcing the terms of this Agreement (or any agreement referenced herein) without limitation in time, communicate, divulge, disseminate, disclose to others or otherwise use, whether directly or indirectly, any Confidential Information regarding the Company or any of its subsidiaries or affiliates. Notwithstanding the foregoing or anything herein to the contrary, nothing contained herein shall prohibit Executive from (i) filing a charge with, reporting possible violations of federal law or regulation to, participating in any investigation by, or cooperating with any governmental agency or entity or making other disclosures that are protected under the whistleblower provisions of applicable law or regulation and/or (ii) communicating directly with, cooperating with, or providing information (including trade secrets) in confidence to, any federal, state or local government regulator (including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice) for the purpose of reporting or investigating a suspected violation of law, or from providing such information to Executive’s attorney or in a sealed complaint or other document filed in a lawsuit or other governmental proceeding. Pursuant to 18 USC Section 1833(b), Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made: (x) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (y) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

“Confidential Information” shall mean information about the Company or any of its subsidiaries or affiliates, and their respective businesses, employees, consultants, contractors, clients and customers that is not disclosed by the Company or any of its subsidiaries or affiliates for financial reporting purposes or otherwise generally made available to the public (other than by Executive’s breach of the terms hereof) and that was learned or developed by Executive in the course of employment by the Company or any of its subsidiaries or affiliates, including (without limitation) any proprietary knowledge, trade secrets, data, formulae, information and client and customer lists and all papers, resumes, and records (including computer records) of the documents containing such Confidential Information. Executive acknowledges that such Confidential Information is specialized, unique in nature and of great value to the Company and its subsidiaries or affiliates, and that such information gives the Company and its subsidiaries or affiliates a competitive advantage. Executive agrees to deliver or return to the Company, at the Company’s request at any time or upon termination or expiration of Executive’s employment or as soon thereafter as possible, all documents, computer tapes and disks, records, lists, data, drawings, prints, notes and written information (and all copies thereof) furnished by the Company and its subsidiaries or affiliates or prepared by Executive in the course of Executive’s employment by the Company and its subsidiaries or affiliates. As used in this Agreement, “subsidiaries” and “affiliates” shall mean any company controlled by, controlling or under common control with the Company. As of the date hereof, Expedia, Inc. and its subsidiaries are not “affiliates” of the Company.

(b) NON-COMPETITION. In consideration of this Agreement, and for other good and valuable consideration provided hereunder, the receipt and sufficiency of which are hereby acknowledged by Executive, Executive hereby agrees and covenants that, during Executive’s employment with the Company and for a period of twelve (12) months thereafter, Executive shall not, without the prior written consent of the Company, directly or indirectly, engage in or become

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associated with a Competitive Activity. For purposes of this Section 2(b), (i) a “Competitive Activity” means engaging in the business of providing online or app-based dating services or in such other business involving the provision of the same or similar products or services that any business of the Company is engaged in providing as of the Termination Date (the “Company Products or Services”), provided such business or endeavor is in the United States, or in any foreign jurisdiction in which the Company provides, or has provided during the Term, the relevant Company Group Products or Services; and (ii) Executive shall be considered to have become “associated with a Competitive Activity” if Executive becomes directly or indirectly involved as an owner, principal, employee, officer, director, independent contractor, representative, stockholder, financial backer, agent, partner, member, advisor, lender, consultant or in any other individual or representative capacity with any individual, partnership, corporation or other organization that is engaged in a Competitive Activity.

Notwithstanding anything else in this Section 2(b), (A) Executive may become employed by or provide services to a partnership, corporation or other organization that is engaged in a Competitive Activity so long as Executive has no direct or indirect responsibilities or involvement in the Competitive Activity, and (B) Executive may own, for investment purposes only, up to five percent (5%) of the outstanding capital stock of any publicly-traded corporation engaged in a Competitive Activity if the stock of such corporation is either listed on a national stock exchange or on the NASDAQ National Market System if Executive is not otherwise affiliated with such corporation. Executive acknowledges that Executive’s covenants under this Section 2(b) are a material inducement to the Company’s entering into this Agreement.

(c) NON-SOLICITATION OF EMPLOYEES. Executive recognizes that he will possess Confidential Information about other employees, consultants and contractors of the Company and its subsidiaries and affiliates relating to their education, experience, skills, abilities, compensation and benefits, and inter-personal relationships with suppliers to and customers of the Company and its subsidiaries and affiliates. Executive recognizes that the information he will possess about these other employees, consultants and contractors is not generally known, is of substantial value to the Company and its subsidiaries and affiliates in developing their respective businesses and in securing and retaining customers, and will be acquired by Executive because of Executive’s business position with the Company. Executive agrees that, during Executive’s employment with the Company, and for a period of twelve (12) months thereafter, Executive will not, directly or indirectly, solicit, recruit or hire any employee of the Company and/or any of its subsidiaries and/or affiliates (or any individual who was an employee of the Company or any of its subsidiaries and/or affiliates at any time during the six (6) months prior to such act of hiring, solicitation or recruitment) for the purpose of being employed by Executive or by any business, individual, partnership, firm, corporation or other entity on whose behalf Executive is acting as an agent, representative or employee and that Executive will not convey any such Confidential Information or trade secrets about employees of the Company or any of its subsidiaries or affiliates to any other person except within the scope of Executive’s duties hereunder. Notwithstanding the foregoing, Executive is not precluded from soliciting or hiring any individual who (i) responds to any public advertisement or general solicitation or (ii) has resigned or been terminated by the Company at least six (6) months prior to the solicitation.

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(d) NON-SOLICITATION OF BUSINESS PARTNERS. During Executive’s employment with the Company, and for a period of twelve (12) months thereafter, Executive shall not, without the prior written consent of the Company, persuade or encourage any business partners or business affiliates of (i) the Company and/or (ii) any of its subsidiaries and/or affiliates with whom Executive has direct contact during his employment with the Company, in each case, to cease doing business with the Company or any of its subsidiaries and/or affiliates or to engage in any business competitive with the Company and/or its subsidiaries and/or affiliates.

(e) PROPRIETARY RIGHTS; ASSIGNMENT. All Employee Developments (defined below) shall be considered works made for hire by Executive for the Company or, as applicable, its subsidiaries or affiliates, and Executive agrees that all rights of any kind in any Employee Developments belong exclusively to the Company. In order to permit the Company to exploit such Employee Developments, Executive shall promptly and fully report all such Employee Developments to the Company. Except in furtherance of his obligations as an employee of the Company, Executive shall not use or reproduce any portion of any record associated with any Employee Development without prior written consent of the Company or, as applicable, its subsidiaries or affiliates. Executive agrees that in the event actions of Executive are required to ensure that such rights belong to the Company under applicable laws, Executive will cooperate and take whatever such actions are reasonably requested by the Company, whether during or after the Term, and without the need for separate or additional compensation. “Employee Developments” means any idea, know-how, discovery, invention, design, method, technique, improvement, enhancement, development, computer program, machine, algorithm or other work of authorship, whether developed, conceived or reduced to practice during the period of employment, that: (i) concerns or relates to the actual or anticipated business, research or development activities, or operations of the Company or any of its subsidiaries or affiliates, (ii) results from or is suggested by any undertaking assigned to Executive or work performed by Executive for or on behalf of the Company or any of its subsidiaries or affiliates, whether created alone or with others, during or after working hours, or (iii) uses, incorporates or is based on Company equipment, supplies, facilities, trade secrets or inventions of any form or type. All Confidential Information and all Employee Developments are and shall remain the sole property of the Company or any of its subsidiaries or affiliates. Executive shall acquire no proprietary interest in any Confidential Information or Employee Developments developed or acquired during the Term. To the extent Executive may, by operation of law or otherwise, acquire any right, title or interest in or to any Confidential Information or Employee Development, Executive hereby assigns and covenants to assign to the Company all such proprietary rights without the need for a separate writing or additional compensation. Executive shall, both during and after the Term, upon the Company’s request, promptly execute, acknowledge, and deliver to the Company all such assignments, confirmations of assignment, certificates, and instruments, and shall promptly perform such other acts, as the Company may from time to time in its discretion deem necessary or desirable to evidence, establish, maintain, perfect, enforce or defend the Company’s rights in Confidential Information and Employee Developments.

(f) COMPLIANCE WITH POLICIES AND PROCEDURES. During the period that Executive is employed with the Company hereunder, Executive shall adhere to the policies and standards of professionalism set forth in the Company’s Policies and Procedures as they may exist and be made known to the Executive by the Company from time to time.

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(g) SURVIVAL OF PROVISIONS. The obligations contained in this Section 2 shall, to the extent provided in this Section 2, survive the termination or expiration of Executive’s employment with the Company and, as applicable, shall be fully enforceable thereafter in accordance with the terms of this Agreement. If it is determined by a court of competent jurisdiction that any restriction in this Section 2 is excessive in duration or scope or is unreasonable or unenforceable under applicable law, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by applicable law.

3. TERMINATION OF PRIOR AGREEMENTS. This Agreement, together with any agreements referenced herein, constitutes the entire agreement between the parties and, as of the Effective Date, terminates and supersedes any and all prior agreements and understandings (whether written or oral) between the parties with respect to the subject matter of this Agreement. Executive acknowledges and agrees that neither the Company nor anyone acting on its behalf has made, and is not making, and in executing this Agreement, Executive has not relied upon, any representations, promises or inducements except to the extent the same is expressly set forth in this Agreement. The Company represents that it has due authority to enter into this Agreement and has taken all necessary corporate action to enter into this Agreement and provide the compensation set forth herein.

4. ASSIGNMENT; SUCCESSORS. This Agreement is personal in its nature and none of the parties hereto shall, without the consent of the others, assign or transfer this Agreement or any rights or obligations hereunder, other than Executive to Executive’s heirs and beneficiaries upon Executive’s death to the extent provided in this Agreement; provided, that the Company may assign this Agreement to, or allow any of its obligations to be fulfilled by, or take actions through, any affiliate of the Company and, in the event of the merger, consolidation, transfer, or sale of all or substantially all of the assets of the Company (a “Transaction”) with or to any other individual or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder, and in the event of any such assignment or Transaction, all references herein to the “Company” shall refer to the Company’s assignee or successor hereunder.

5. WITHHOLDING. The Company shall make such deductions and withhold such amounts from each payment and benefit made or provided to Executive hereunder, as may be required from time to time by applicable law, governmental regulation or order.

6. WAIVER; MODIFICATION. Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto.

7. SECTION 409A OF THE INTERNAL REVENUE CODE.

(a) This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). It is intended that any amounts

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payable under this Agreement and the Company’s and Executive’s exercise of authority or discretion hereunder shall comply with and avoid the imputation of any tax, penalty or interest under Section 409A of the Code. This Agreement shall be construed and interpreted consistent with that intent.

(b) For purposes of this Agreement, a “Separation from Service” occurs when Executive dies, retires or otherwise has a termination of employment with the Company that constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h)(1), without regard to the optional alternative definitions available thereunder.

(c) If Executive is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) as of the date of Executive’s Separation from Service, Executive shall not be entitled to any payment or benefit pursuant to clause (i) of Section 1(d) until the earlier of (i) the date which is six (6) months after his or her Separation from Service for any reason other than death, or (ii) the date of Executive’s death. The provisions of this paragraph shall only apply if, and to the extent, required to avoid the imputation of any tax, penalty or interest pursuant to Section 409A. Any amounts otherwise payable to Executive upon or in the six (6) month period following Executive’s Separation from Service that are not so paid by reason of this Section 6(b) shall be paid (without interest) as soon as practicable after the date that is six (6) months after Executive’s Separation from Service (or, if earlier, as soon as practicable after the date of Executive’s death).

(d) To the extent that any reimbursement pursuant to this Agreement is taxable to Executive, Executive shall provide the Company with documentation of the related expenses promptly so as to facilitate the timing of the reimbursement payment contemplated by this paragraph, and any reimbursement payment due to Executive pursuant to such provision shall be paid to Executive on or before the last day of Executive’s taxable year following the taxable year in which the related expense was incurred. Such reimbursement obligations pursuant to this Agreement are not subject to liquidation or exchange for another benefit and the amount of such benefits that Executive receives in one taxable year shall not affect the amount of such benefits that Executive receives in any other taxable year.

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

8. REDUCTION OF CERTAIN PAYMENTS. Notwithstanding anything to the contrary in this Agreement, in any other agreement between Executive and the Company or any plan maintained by the Company, if there is a Section 280G Change in Control (as defined in Section 8(e)(i) below), the following rules shall apply:

(a) Except as otherwise provided in Section 8(c) below, if it is determined in accordance with Section 8(d) below that any portion of the Contingent Compensation Payments

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(as defined in 8(e)(ii) below) that otherwise would be paid or provided to Executive or for her benefit in connection with the 280G Change in Control would be subject to the excise tax imposed under Section 4999 of the Code (“Excise Tax”), then such Contingent Compensation Payments shall be reduced by the smallest total amount necessary in order for the aggregate present value of all such Contingent Compensation Payments after such reduction, as determined in accordance with the applicable provisions of Section 280G of the Code and the regulations issued thereunder, not to exceed the Excise Tax Threshold Amount (as defined in Section 8(e)(iii) below).

(b) If the Auditor (as defined in Section 8(d) below) determines that any reduction is so required, the Payments to be reduced, and the reduction to be made to such Payments, shall be determined by the Auditor in its sole discretion in a manner which will result in the least economic cost to Executive, and if the reduction with respect to two or more Payments would result in equivalent economic cost to Executive, such Payments shall be reduced in the inverse chronological order of the dates on which such Payments were otherwise scheduled to be made to Executive, until the required reduction has been fully achieved.

(c) Notwithstanding the foregoing, no reduction in any of the Executive’s Contingent Compensation Payments shall be made pursuant to Section 8(a) above if it is determined in accordance with Section 8(d) below that the After Tax Amount of the Contingent Compensation Payments payable to Executive without such reduction would exceed the After Tax Amount of the reduced Contingent Compensation Payments payable to her in accordance with Section 8(a) above. For purposes of the foregoing, (x) the “After Tax Amount” of the Contingent Compensation Payments, as computed with, and as computed without, the reduction provided for under Section 8(a) above, shall mean the amount of the Contingent Compensation Payments, as so computed, that Executive would retain after payment of all taxes (including without limitation any federal, state or local income taxes, the Excise Tax or any other excise taxes, any medicare or other employment taxes, and any other taxes) imposed on such Contingent Compensation Payments in the year or years in which payable; and (y) the amount of such taxes shall be computed at the rates in effect under the applicable tax laws in the year in which the 280G Change in Control occurs, or if then ascertainable, the rates in effect in any later year in which any Contingent Compensation Payment is expected to be paid following the 280G Change in Control, and in the case of any income taxes, by using the maximum combined federal, state and (if applicable) local income tax rates then in effect under such laws.

(d) A determination as to whether any Excise Tax is payable with respect to Executive’s Contingent Compensation Payments and if so, as to the amount thereof, and a determination as to whether any reduction in Executive’s Contingent Compensation Payments is required pursuant to the provisions of Sections 8(a) and 8(c) above, and if so, as to the amount of the reduction so required, shall be made by no later than 15 days prior to the closing of the transaction or the occurrence of the event that constitutes the 280G Change in Control. Such determinations, and the assumptions to be utilized in arriving at such determinations, shall be made by an independent auditor (the “Auditor”) jointly selected by Executive and the Company, all of whose fees and expenses shall be borne and directly paid solely by the Company. The Auditor shall be a nationally recognized public accounting firm which has not, during the two years preceding the date of its selection, acted in any way on behalf of the Company or any of its affiliates. If Executive and the

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Company cannot agree on the firm to serve as the Auditor, then Executive and the Company shall each select one accounting firm and those two firms shall jointly select the accounting firm to serve as the Auditor. The Auditor shall provide a written report of its determinations, including detailed supporting calculations, both to Executive and to the Company. The determinations made by the Auditor pursuant to this Section 8(d) shall be binding upon Executive and the Company.

(e) For purposes of the foregoing, the following terms shall have the following respective meanings:

(i) “280G Change in Control” shall mean a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the assets of the Company, as determined in accordance with section 280G(b)(2) of the Code and the regulations issued thereunder.

(ii) “Contingent Compensation Payment” shall mean any payment or benefit in the nature of compensation that is to be paid or provided to Executive or for her benefit in connection with a 280G Change in Control (whether under this Agreement or otherwise, including by the entity, or by any affiliate of the entity, whose acquisition of the stock of the Company or its assets constitutes the Change in Control) if Executive is a “disqualified individual” (as defined in Section 280G(c) of the Code) at the time of the 280G Change in Control, to the extent that such payment or benefit is “contingent” on the 280G Change in Control within the meaning of Section 280G(b)(2)(A) (i) of the Code and the regulations issued thereunder.

(iii) “Excise Tax Threshold Amount” shall mean an amount equal to (x) three times Executive’s “base amount” within the meaning of Section 280G(b)(3) of the Code and the regulations issued thereunder, less (y) $1,000.

9. HEADING REFERENCES. Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose. References to “this Agreement” or the use of the term “hereof” shall refer to these Standard Terms and Conditions and the Employment Agreement attached hereto, taken as a whole.

10. REMEDIES FOR BREACH.

(a) Executive expressly agrees and understands that Executive will notify the Company in writing of any alleged breach of this Agreement by the Company, and the Company will have thirty (30) days from receipt of Executive’s notice to cure any such breach. Executive expressly agrees and understands that in the event of any termination of Executive’s employment by the Company during the Term, the Company’s contractual obligations to Executive shall be fulfilled through compliance with its obligations under Section 1 of the Standard Terms and Conditions.

(b) Executive expressly agrees and understands that the remedy at law for any breach by Executive of Section 2 of the Standard Terms and Conditions will be inadequate and that damages flowing from such breach are not usually susceptible to being measured in monetary terms. Accordingly, it is acknowledged that, upon Executive’s violation of any provision of such Section

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2, the Company shall be entitled to obtain from any court of competent jurisdiction immediate injunctive relief and obtain a temporary order restraining any threatened or further breach as well as an equitable accounting of all profits or benefits arising out of such violation. Nothing in this Agreement shall be deemed to limit the Company’s remedies at law or in equity for any breach by Executive of any of the provisions of this Agreement, including Section 2, which may be pursued by or available to the Company.

11. SEVERABILITY. In the event that a court of competent jurisdiction determines that any portion of this Agreement is in violation of any law or public policy, only the portions of this Agreement that violate such law or public policy shall be stricken. All portions of this Agreement that do not violate any law or public policy shall continue in full force and effect. Further, any court order striking any portion of this Agreement shall modify the stricken terms as narrowly as possible to give as much effect as possible to the intentions of the parties under this Agreement.

11. INDEMNIFICATION. The Company shall indemnify and hold Executive harmless for acts and omissions in Executive’s capacity as an officer, director or employee of the Company to the maximum extent permitted under applicable law; provided, however, that neither the Company nor any of its subsidiaries and affiliates shall indemnify Executive for any losses incurred by Executive as a result of acts described in Section 1(c) of the Standard Terms and Conditions of this Agreement.

[The Signature Page Follows]

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ACKNOWLEDGED AND AGREED:

Date: August 8, 2018

MATCH GROUP, INC.

/s/ Mandy Ginsberg By: Mandy Ginsberg Title: Chief Executive Officer

/s/ Jared Sine JARED SINE

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Exhibit A Form of Release

THIS RELEASE (the “Release”) is entered into between Jared Sine (“Executive”) and Match Group, Inc., a Delaware corporation (the “Company”), for the benefit of the Company. The entering into and non-revocation of this Release is a condition to Executive’s right to receive certain payments and benefits under Sections 1(d)(i) and (iii) of the employment agreement entered into by and between Executive and the Company, dated as of August 8, 2018 (the “Employment Agreement”). Capitalized terms used and not defined herein shall have the meaning provided in the Employment Agreement. Accordingly, Executive and the Company agree as follows. 1. In consideration for the payments and other benefits provided to Executive by the Employment Agreement, to which Executive is not otherwise entitled, and the sufficiency of which Executive acknowledges, Executive represents and agrees, as follows: (a) Executive, for Executive’s self and Executive’s heirs, administrators, representatives, executors, successors and assigns (collectively “Releasers”), hereby irrevocably and unconditionally releases, acquits and forever discharges and agrees not to sue the Company or any of its parents, subsidiaries, divisions, affiliates and related entities and their current and former directors, officers, shareholders, trustees, employees, consultants, independent contractors, representatives, agents, servants, successors and assigns and all persons acting by, through or under or in concert with any of them (collectively “Releasees”), from all claims, rights and liabilities up to and including the date of this Release arising from or relating to Executive’s employment with, or termination of employment from, the Company, and from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of actions, suits, rights, demands, costs, losses, debts and expenses of any nature whatsoever, known or unknown, suspected or unsuspected and any claims of wrongful discharge, breach of contract, implied contract, promissory estoppel, defamation, slander, libel, tortious conduct, employment discrimination or claims under any federal, state or local employment statute, law, order or ordinance, including any rights or claims arising under Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. § 621 et seq. (“ADEA”), or any other federal, state or municipal ordinance relating to discrimination in employment. Nothing contained herein shall restrict the parties’ rights to enforce the terms of this Release. (b) To the maximum extent permitted by law, Executive agrees that Executive has not filed, nor will Executive ever file, a lawsuit asserting any claims which are released by this Release, or to accept any benefit from any lawsuit which might be filed by another person or government entity based in whole or in part on any event, act, or omission which is the subject of this Release. (c) This Release specifically excludes (i) Executive’s rights and the Company’s obligations to provide severance payments under Section 1 of the Employment Agreement; (ii) Executive’s right to indemnification under Section 12 of the Standard Terms and Conditions attached to the Employment Agreement or otherwise under the Company’s organizational documents, applicable insurance policies or applicable law; (iii) Executive’s right to assert claims for workers’ compensation or unemployment benefits; (v) Executive’s vested rights under any retirement or welfare benefit plan of the Company or under any equity or equity-linked award that remains

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outstanding following the Termination Date (as defined in the Employment Agreement); or (vi) any other rights that may not be waived by an employee under applicable law. Nothing contained in this Release shall release Executive from Executive’s obligations, including any obligations to abide by restrictive covenants, under the Employment Agreement that continue or are to be performed following termination of employment. (d) The parties agree that this Release shall not affect the rights and responsibilities of the US Equal Employment Opportunity Commission (hereinafter “EEOC”) to enforce ADEA and other laws. In addition, the parties agree that this Release shall not be used to justify interfering with Executive’s protected right to file a charge or participate in an investigation or proceeding conducted by the EEOC. The parties further agree that Executive knowingly and voluntarily waives all rights or claims (that arose prior to Executive’s execution of this Release) the Releasers may have against the Releasees, or any of them, to receive any benefit or remedial relief (including, but not limited to, reinstatement, back pay, front pay, damages, attorneys’ fees, experts’ fees) as a consequence of any investigation or proceeding conducted by the EEOC. 2. Executive acknowledges that the Company has specifically advised Executive of the right to seek the advice of an attorney concerning the terms and conditions of this Release. Executive further acknowledges that Executive has been furnished with a copy of this Release, and Executive has been afforded forty-five (45) days in which to consider the terms and conditions set forth above prior to this Release. By executing this Release, Executive affirmatively states that Executive has had sufficient and reasonable time to review this Release and to consult with an attorney concerning Executive’s legal rights prior to the final execution of this Release. Executive further agrees that Executive has carefully read this Release and fully understands its terms. Executive understands that Executive may revoke this Release within seven (7) days after signing this Release. Revocation of this Release must be made in writing and must be received by the General Counsel at the Company, 8750 North Central Expressway, 14th Floor, Dallas, TX 75231 within the time period set forth above. 3. This Release will be governed by and construed in accordance with the laws of the state of New York, without giving effect to any choice of law or conflicting provision or rule (whether of the state of New York or any other jurisdiction) that would cause the laws of any jurisdiction other than the state of New York to be applied. In furtherance of the foregoing, the internal law of the state of New York will control the interpretation and construction of this agreement, even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply. The provisions of this Release are severable, and if any part or portion of it is found to be unenforceable, the other paragraphs shall remain fully valid and enforceable. 4. This Release shall become effective and enforceable on the eighth day following its execution by Executive, provided Executive does not exercise Executive’s right of revocation as described above. If Executive fails to sign and deliver this Release or revokes Executive’s signature, this Release will be without force or effect, and Executive shall not be entitled to the payments and benefits of Section 1(d), with the exception of Section 1(d)(i) of the Employment Agreement.

Jared Sine Date:

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RLP 92 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT D

RLP 93 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

RLP Vent Wed, Mar 20, 2019 at 10:21 PM To: [email protected], [email protected] Cc: [email protected], TMDocketNY

Please see attached.

Ramona Prioleau RLP Ventures, LLC

6 attachments Notice of Testimonial Deposition - Amanda Ginsberg.pdf 116K Notice of Testimonial Deposition - Gary Swidler.pdf 117K Notice of Testimonial Deposition - Alan Spoon.pdf 114K Notice of Testimonial Deposition - Pamela Seymon.pdf 113K Notice of Testimonial Deposition - Thomas McInerney.pdf 113K Attachment A.pdf 751K

RLP 94 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 7:44 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT E

RLP 95 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

Boczko, Jeremy Wed, Mar 27, 2019 at 1:34 PM To: RLP Vent , "Reichman, Jonathan" Cc: TMDocketNY , "Merone, William" , "Cohen- Nowak, Jessica"

Dear Ms. Prioleau:

We are in receipt of the Noces of Tesmonial Deposion Upon Wrien Quesons you recently served on five senior Match Group execuves, specifically, Amanda Ginsberg, Chief Execuve Officer; Gary Swidler, Chief Financial Officer; and Alan Spoon, Pamela Seymon, and Thomas McInerney, all Board Members.

Your Noces are per se improper, both in form and substance. They are also abusive, represenng the quintessenal example of an unjusfied aempt to depose "apex witnesses" without cause. See, e.g., FMR Corp. v. Alliant Partners, 51 USPQ2d 1759 (TTAB 1999). Match Group therefore will not comply with the Noce and intends to move the Board (and, if necessary, the federal court in Texas) for a protecve order.

In advance of having to do so, however, Match Group is willing to discuss alternate arrangements that would permit you to seek the desired tesmony through less intrusive methods, such as by having Match appoint a lower-level employee to tesfy on behalf of the company on issues relevant to these proceedings, or by having the company itself provide wrien answers to a more focused list of quesons.

If you are interested in pursuing either of these opons, please let me know. If not, please provide us with your explanaon for why you believe the five named Match Group senior execuves have "unique or superior personal knowledge" of any facts that are relevant to any claim or defense in this proceeding, which turns on your lack of use as of the filing date and the potenal for confusion or diluon. See Fed. R. Civ. P. 26(b).

Absent an agreement or a sasfactory explanaon, we will move forward and seek a protecve order. If we are forced to do so, we will also resist providing any further accommodaons absent Board order.

Regards,

Jeremy

Jeremy S. Boczko

RLP 96 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 7:50 PM Associate

HUNTON ANDREWS KURTH LLP

200 Park Avenue | New York, New York 10166 +1.212.908.6331 Phone | +1.212.309.1100 Fax

+1.212.908.6196 Assistant – Rose Macera

[email protected] | HuntonAK.com

Confidentiality Notice: The information contained in this email and any attachments to it may be legally privileged and include confidential information intended only for the recipient(s) identified above. If you are not one of those intended recipients, you are hereby notified that any dissemination, distribution or copying of this email or its attachments is strictly prohibited. If you have received this email in error, please notify the sender of that fact by return email and permanently delete the email and any attachments to it immediately. Please do not retain, copy or use this email or its attachments for any purpose, nor disclose all or any part of its contents to any other person. Thank you.

[Quoted text hidden]

Confidentiality Notice: The information contained in this email and any attachments to it is confidential and may be legally privileged. If the reader of this message is not an intended recipient, you are hereby notified that any dissemination, distribution or copying of this email or its attachments is strictly prohibited. If you have received this email in error, please immediately notify the sender of that fact by return email and then permanently delete the email and any attachments to it and all copies and backups thereof. Please do not retain, copy or use this email or its attachments for any purpose, nor disclose all or any part of its contents to any other person. Hunton Andrews Kurth LLP operates as a Virginia limited liability partnership. Thank you.

RLP 97 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 7:50 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT F

RLP 98 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

RLP Vent Thu, Mar 28, 2019 at 7:37 PM To: "Boczko, Jeremy" Cc: "Reichman, Jonathan" , TMDocketNY , "Merone, William" , "Cohen-Nowak, Jessica"

Dear Mr. Boczko,

I am in receipt of your email of March 27, 2019, regarding the Notices of Testimonial Deposition Upon Written Questions that RLP Ventures recently served.

RLP Ventures disagrees that the notices are improper and is prepared to defend the notices.

That said, RLP Ventures is willing to pursue other options to get the desired testimony.

Regards,

Ramona Prioleau RLP Ventures, LLC [Quoted text hidden]

RLP 99 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 7:59 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT G

RLP 100 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

Reichman, Jonathan Mon, Apr 1, 2019 at 10:18 AM To: RLP Vent , "Boczko, Jeremy" Cc: "Merone, William" , "Cohen-Nowak, Jessica"

Dear Ms. Prioleau,

Jeremy Boczko is out of the office.

We are prepared to offer you Evan Bonsteer as a witness in place of the individuals whom you have noced for deposion.

Best regards.

Jonathan D. Reichman Partner

HUNTON ANDREWS KURTH LLP 200 Park Avenue | New York, New York 10166 +1.212.908.6256 Phone | +1 212.309.1100 Fax +1.212.908.6469 Assistant - Susan Graham [email protected] | vCard | Bio | HuntonAK.com Co-Author, The Essential Guide to Entertainment Law (Juris Publishing) http://www.eg2el.com/

[Quoted text hidden] [Quoted text hidden]

RLP 101 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 8:03 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT H

RLP 102 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

RLP Vent Tue, Apr 2, 2019 at 1:50 PM To: "Reichman, Jonathan" Cc: "Boczko, Jeremy" , "Merone, William" , "Cohen-Nowak, Jessica"

Dear Mr. Reichman,

Thank you for your email.

Please provide detail of:

1. Mr. Bonstetter's legal authorization to answer on behalf of the individuals that Applicant noticed for deposition and 2. his knowledge of the subject matter of each of the deposition questions previously submitted.

Regards,

Ramona Prioleau RLP Ventures, LLC [Quoted text hidden]

RLP 103 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 8:06 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT I

RLP 104 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

Boczko, Jeremy Thu, Apr 4, 2019 at 4:51 PM To: RLP Vent , "Reichman, Jonathan" Cc: "Merone, William" , "Cohen-Nowak, Jessica"

Ramona:

Mr. Bonnsteer is the Senior Communicaons Manager responsible for the TINDER goods and services, and has been acvely involved with the TINDER brand for several years. Mr. Bonnsteer is therefore in the best posion to answer relevant quesons concerning the TINDER mark and the TINDER goods and services. [Quoted text hidden] [Quoted text hidden]

RLP 105 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 8:12 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT J

RLP 106 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

RLP Vent Fri, Apr 5, 2019 at 10:59 AM To: "Boczko, Jeremy" Cc: "Reichman, Jonathan" , "Merone, William" , "Cohen-Nowak, Jessica" , TMDocketNY , [email protected]

Dear Mr. Boczko,

Thank you for your email.

In your email of March 27, 2019, you informed Applicant that Match Group, Inc. would not comply with Applicant's Notices of Deposition. To date, Match Group, Inc. has not complied with said notices.

Nevertheless, the Applicant remains willing to pursue other options to get the desired testimony, including affidavits and declarations from the individuals that Applicant noticed for deposition that provide testimony related to all of the deposition questions submitted on March 20, 2019.

Your response to my email to Mr. Reichman on April 2, 2019 does not indicate that Mr. Bonnstetter is both:

1. Legally authorized to answer Applicant's deposition questions on behalf of the individuals that Applicant noticed for deposition and 2. Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019.

Please provide the Applicant with the name of a deponent that is both:

1. Legally authorized to answer Applicant's deposition questions on behalf of the individuals that Applicant noticed for deposition and 2. Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019.

Please confirm that:

1. Match Group, Inc. will not comply with Applicant's Notices of Deposition; 2. Mr. Bonnstetter is not: Legally authorized to answer Applicant's deposition questions on behalf of the individuals that Applicant noticed for deposition and Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019. 3. Match Group, Inc. will provide Applicant with the name of a deponent that is: Legally authorized to answer Applicant's deposition questions on behalf of the individuals that Applicant noticed for deposition and Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019.

Given the Board's trial deadlines, time is of the essence.

Regards,

Ramona Prioleau RLP Ventures, LLC [Quoted text hidden]

RLP 107 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 8:17 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT K

RLP 108 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

Boczko, Jeremy Mon, Apr 8, 2019 at 12:07 PM To: RLP Vent Cc: "Reichman, Jonathan" , "Merone, William" , "Cohen-Nowak, Jessica" , TMDocketNY

Dear Ms. Prioleau:

RLP has impermissibly sought the deposion of “apex witnesses” consisng of Match Group’s officers without providing cause or jusficaon, and seeking answers to quesons which are largely irrelevant to a Board proceeding. As previously explained, these deposion noces are facially improper, are clearly intended to harass Match Group, and constute a misuse of Board proceedings.

In an effort to address any permissible need by RLP to obtain relevant informaon for this proceeding, Match Group has offered a senior execuve of the TINDER brand who has inmate knowledge of this brand and who is able to respond to relevant, non-objeconable quesons provided by RLP. This witness is authorized to speak on behalf of Opposer Match Group concerning such relevant topics and is a representave of the Company—which is the Opposer in this proceeding—and not a representave for any individual.

Absent your acceptance of Match Group’s proposed alternate witness, Match Group will move forward in seeking a protecve order, and, as previously menoned, will also resist providing any further accommodaons absent Board order. Addionally, we expect that you, as an aorney, are aware of your professional and ethical obligaons not to aempt to contact representaves of our client directly. Therefore, please refrain from any further aempts to communicate with our client directly, including by adding representaves of our client as “cc’s” to your correspondence.

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RLP 109 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 8:26 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT L

RLP 110 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

RLP Vent Mon, Apr 8, 2019 at 3:43 PM To: "Boczko, Jeremy" Cc: "Reichman, Jonathan" , "Merone, William" , "Cohen-Nowak, Jessica" , TMDocketNY

Dear Mr. Boczko,

Thank you for your email.

Please let me know the date on which the Applicant or its representative was explicitly informed that in relation to the Notices of Deposition that Hunton Andrews Kurth LLP is the legal representative of Match Group, Inc. and the individuals noticed for deposition.

Additionally, I expect that you, as an attorney that I have dealt with cordially for some time now, to be aware of your professional and ethical obligations to inform parties in a proceeding that you are in fact the legal representative of entities that you first claimed to represent in your email today. Therefore, please confirm that Hunton Andrews Kurth LLP is the legal representative of Match Group, Inc. and the individuals noticed for deposition.

Regards,

Ramona Prioleau RLP Ventures, LLC [Quoted text hidden]

RLP 111 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 8:51 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT M

RLP 112 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

Boczko, Jeremy Wed, Apr 10, 2019 at 11:54 AM To: RLP Vent Cc: "Reichman, Jonathan" , "Merone, William" , "Cohen-Nowak, Jessica" , TMDocketNY

Dear Ramona:

These individuals are officers and employees of party-Opponent Match Group. We reiterate that you may not contact any of these individuals directly without our express approval.

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RLP 113 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 8:53 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT N

RLP 114 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

RLP Vent Fri, Apr 12, 2019 at 12:52 PM To: "Boczko, Jeremy" Cc: "Reichman, Jonathan" , "Merone, William" , "Cohen-Nowak, Jessica" , TMDocketNY

Dear Mr. Boczko,

Your response does not specify the individuals or employees that you are referring to as "officers and employees of party-Opponent Match Group." Please provide the names of the officers and employees of party-opponent, Match Group, LLC, that you are referring to in your April 10th email.

As you are aware, Applicant has not directly contacted the individuals noticed for deposition. Please refrain from falsely implying or falsely claiming that Applicant has done so.

The legal representative for the individuals noticed for deposition is specified in said notices. If you are aware that the legal representative for the individuals noticed for deposition has changed from the legal representative identified in public records, please provide Applicant with the updated contact information for the legal representative for for the individuals noticed for deposition.

Regards,

Ramona Prioleau RLP Ventures LLC [Quoted text hidden]

RLP 115 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 8:57 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT O

RLP 116 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

RLP Vent Thu, Apr 18, 2019 at 9:26 AM To: "Boczko, Jeremy" Cc: "Reichman, Jonathan" , "Merone, William" , "Cohen-Nowak, Jessica" , TMDocketNY

Dear Mr. Boczko,

As noted in my email to you of March 28, 2019, RLP Ventures disagrees that the notices are improper and is prepared to defend the notices.

The individuals noticed for deposition have unique, first-hand knowledge of the subject matter of each of the deposition questions submitted on March 20, 2019. The responses to those deposition questions are central to Applicant's trial testimony in the instant proceeding.

In addition, Applicant has communicated its willingness to pursue other options to get the desired testimony, including affidavits and declarations from the individuals that Applicant noticed for deposition that provide testimony related to all of the deposition questions submitted on March 20, 2019.

To date, Match Group, Inc. has neither complied with Applicant's Notices of Deposition, nor provided affidavits or declarations from the individuals noticed for deposition.

Opposer, Match Group, LLC, has not offered Applicant the name of a deponent that is both:

1. Legally authorized to answer Applicant's deposition questions on behalf of the individuals that Applicant noticed for deposition and 2. Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019 that are central to Applicant's trial testimony in the instant proceeding.

Regards,

Ramona Prioleau RLP Ventures, LLC

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RLP 117 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 9:03 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT P

RLP 118 RLP Vent

Notice of Depositions re Opposition No. 91230917 1 message

RLP Vent Thu, Apr 18, 2019 at 12:10 PM To: [email protected] Cc: "Reichman, Jonathan" , "Boczko, Jeremy" , "Cohen-Nowak, Jessica" , "Merone, William" , TMDocketNY

Jared Sine, Esq. General Counsel and Secretary Match Group, Inc. 8750 North Central Expressway, Suite 1400 Dallas, Texas 75231

Dear Mr. Sine:

I write on behalf of RLP Ventures, LLC ("RLP") in furtherance of my emails of March 20, 2019 and April 5, 2019 (see attached), concerning the taking of testimony of the following individuals noticed for deposition:

Amanda Ginsberg; Gary Swidler; Alan Spoon; Pamela Seymon; and Thomas McInerney.

You are identified in public records as the legal representative for the individuals noticed for deposition. If you have designated another counsel as the legal representative for the individuals noticed for deposition please provide RLP with the updated contact information.

This is RLP's additional attempt to resolve issues related to taking testimony of the individuals noticed for deposition. To date, we have not received any response from you - as the publicly-identified legal representative for the individuals noticed for deposition - to cure outstanding testimony issues.

If we do not hear from you by the close of business on Monday, April 22, 2019, we will consider your lack of response as a refusal to cure outstanding testimony issues or to meet and confer. RLP reserves the right to seek all remedies available to it under the law and seek appropriate relief under the Federal Rules of Civil Procedure.

As noted in my email of April 5, 2019, RLP is willing to pursue other options to get the desired testimony, including affidavits and declarations from the individuals that RLP noticed for deposition that provide testimony related to all of the deposition questions submitted on March 20, 2019.

I look forward to hearing from you.

Regards,

Ramona Prioleau RLP Ventures, LLC

2 attachments Email dated 03202019 - Notice of Depositions re Opposition No 91230917.pdf 94K

RLP 119 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 9:26 PM Email dated 04052019 - Notice of Depositions re Opposition No 91230917.pdf 84K

RLP 120 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 9:26 PM RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

RLP Vent Wed, Mar 20, 2019 at 10:21 PM To: [email protected], [email protected] Cc: [email protected], TMDocketNY

Please see attached.

Ramona Prioleau RLP Ventures, LLC

6 attachments Notice of Testimonial Deposition - Amanda Ginsberg.pdf 116K Notice of Testimonial Deposition - Gary Swidler.pdf 117K Notice of Testimonial Deposition - Alan Spoon.pdf 114K Notice of Testimonial Deposition - Pamela Seymon.pdf 113K Notice of Testimonial Deposition - Thomas McInerney.pdf 113K Attachment A.pdf 751K

RLP 121 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 4/18/2019, 8:46 AM RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

RLP Vent Fri, Apr 5, 2019 at 10:59 AM To: "Boczko, Jeremy" Cc: "Reichman, Jonathan" , "Merone, William" , "Cohen-Nowak, Jessica" , TMDocketNY , [email protected]

Dear Mr. Boczko,

Thank you for your email.

In your email of March 27, 2019, you informed Applicant that Match Group, Inc. would not comply with Applicant's Notices of Deposition. To date, Match Group, Inc. has not complied with said notices.

Nevertheless, the Applicant remains willing to pursue other options to get the desired testimony, including affidavits and declarations from the individuals that Applicant noticed for deposition that provide testimony related to all of the deposition questions submitted on March 20, 2019.

Your response to my email to Mr. Reichman on April 2, 2019 does not indicate that Mr. Bonnstetter is both:

1. Legally authorized to answer Applicant's deposition questions on behalf of the individuals that Applicant noticed for deposition and 2. Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019.

Please provide the Applicant with the name of a deponent that is both:

1. Legally authorized to answer Applicant's deposition questions on behalf of the individuals that Applicant noticed for deposition and 2. Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019.

Please confirm that:

1. Match Group, Inc. will not comply with Applicant's Notices of Deposition; 2. Mr. Bonnstetter is not: Legally authorized to answer Applicant's deposition questions on behalf of the individuals that Applicant noticed for deposition and Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019. 3. Match Group, Inc. will provide Applicant with the name of a deponent that is: Legally authorized to answer Applicant's deposition questions on behalf of the individuals that Applicant noticed for deposition and Knowledgeable of the subject matter of each of the deposition questions submitted on March 20, 2019.

Given the Board's trial deadlines, time is of the essence.

Regards,

Ramona Prioleau RLP Ventures, LLC [Quoted text hidden]

RLP 122 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 4/18/2019, 8:55 AM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT Q

RLP 123 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

Boczko, Jeremy Fri, Apr 19, 2019 at 11:58 AM To: RLP Vent Cc: "Reichman, Jonathan" , "Merone, William" , "Cohen-Nowak, Jessica" , TMDocketNY

Ms. Prioleau:

As we have repeatedly nofied you, and as the record reflects, Hunton Andrews Kurth is the only counsel of record for Match Group, LLC in this proceeding, including its employees. As such, you are not to make any direct contact with our client, its officers, or its employees, which is your legal and ethical obligaon under the law as both a party to this proceeding and as an aorney.

Given your repeated refusal to provide any jusficaon for your deposion noces, which are per se improper, and your conduct herein, it is clear that further back and forth on this issue will not be fruiul. Accordingly, we will not make the noced witnesses available for deposion.

Regards,

Jeremy

Jeremy S. Boczko

HUNTON ANDREWS KURTH LLP

200 Park Avenue | New York, New York 10166 +1.212.908.6331 Phone | +1.212.309.1100 Fax

+1.212.908.6196 Assistant – Rose Macera

[email protected] | HuntonAK.com

Confidentiality Notice: The information contained in this email and any attachments to it may be legally privileged and include confidential information intended only for the recipient(s) identified above. If you are not one of those intended recipients, you are hereby notified that any dissemination, distribution or copying of this email or its attachments is strictly prohibited. If you have received this email in error, please notify the sender of that fact by return email and permanently delete the email and any attachments to it immediately. Please do not retain, copy or use this email or its attachments for any purpose, nor disclose all or any part of its contents to any other person.

RLP 124 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 9:14 PM [Quoted text hidden] [Quoted text hidden]

RLP 125 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 9:14 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT R

RLP 126 RLP Vent

Notice of Depositions re Opposition No. 91230917 - Attorney Copy

RLP Vent Fri, Apr 19, 2019 at 4:21 PM To: "Boczko, Jeremy" Cc: "Reichman, Jonathan" , "Merone, William" , "Cohen-Nowak, Jessica" , TMDocketNY

Dear Mr. Boczko:

Based on the public record, your implication or claim that the Applicant has directly contacted your client Match Group LLC, its officers, or its employees is false. Please refrain from making false implications or claims about the Applicant.

As you are aware, Applicant has not directly contacted the individuals noticed for deposition. I have asked you to provide information to support your claim that Applicant has directly contacted your client Match Group LLC, specific Match Group LLC officers, or specific Match Group LLC employees. You have failed to provide such information.

As you are aware, the individuals noticed for deposition have been contacted via the publicly-identified legal representative for those individuals. If Hunton Andrews Kurth has been designated counsel for the individuals noticed for deposition, you are obliged to specifically inform Applicant that Hunton Andrews Kurth has been so designated as well as for which of the specific individuals. You have failed to inform Applicant of such designation.

In addition, your claim that Applicant has refused to provide any justification for its deposition notices is false. Applicant continues to disagree that the notices are improper and is prepared to defend the notices.

Applicant notes your refusal regarding the deposition notices for the record.

Regards,

Ramona Prioleau RLP Ventures, LLC [Quoted text hidden]

RLP 127 https://mail.google.com/mail/u/0?ik=5aa2707a5b&view=pt&search=all... 5/3/2019, 9:21 PM DECLARATION OF RAMONA PRIOLEAU

EXHIBIT S

RLP 128 EX-10.1 2 mtch8-k20180726ex101.htm EMPLOYMENT AGREEMENT BETWEEN AMANDA W. GINSBERG AND MATCH GROUP, INC. Exhibit 10.1

EXECUTION COPY

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (“Agreement”) is entered by and between Amanda W. Ginsberg (“Executive”) and Match Group, Inc., a Delaware corporation (the “Company”) on July 20, 2018, and is effective as of December 5, 2017 (the “Effective Date”).

WHEREAS, the Company desires to establish its right to the services of Executive, in the capacity described below, on the terms and conditions hereinafter set forth, and Executive is willing to accept such employment on such terms and conditions.

NOW, THEREFORE, in consideration of the mutual agreements hereinafter set forth, Executive and the Company have agreed and do hereby agree as follows:

1A. EMPLOYMENT. During the Term (as defined below), the Company shall employ Executive, and Executive shall be employed, as the Chief Executive Officer of the Company and as a member of the Board of Directors (the “Board”) of the Company. During Executive’s employment with the Company, Executive shall do and perform all services and acts necessary or advisable to fulfill the duties and responsibilities as are commensurate and consistent with Executive’s position and shall render such services on the terms set forth herein. During Executive’s employment with the Company, Executive shall report to the Board. Executive shall have such powers and duties with respect to the Company as may reasonably be assigned to Executive by the Board, to the extent consistent with Executive’s position as Chief Executive Officer of the Company. Executive agrees to devote substantially all of Executive’s working time, attention and efforts to the Company and to perform the duties of Executive’s position in accordance with the Company’s written policies as in effect from time to time. Notwithstanding the foregoing, Executive may (i) participate in or serve or advise on the boards of directors of civic and charitable activities and corporate boards of directors unrelated to the Company, (ii) engage in speaking activities, and (iii) manage her and her immediate family’s personal investments, so long as such activities do not conflict with or materially interfere with Executive’s performance of her duties hereunder. Executive’s principal place of employment shall be at the Company’s offices located in Dallas, Texas.

2A. TERM. This Agreement shall commence on the Effective Date and shall continue for a period of two (2) years (the “Initial Term”). This Agreement shall automatically be renewed for successive one-year periods on the second anniversary of the Effective Date and on each successive anniversary of the Effective Date thereafter (each successive one-year renewal term together with the Initial Term, the “Term”) unless one party hereto provides written notice to the other, at least ninety (90) days prior to the end of the applicable Term, that it elects not to extend this Agreement, which notice shall be irrevocable (any such notice, a “Non-Renewal Notice”). Notwithstanding anything to the contrary in this Section 2A, Executive’s employment hereunder may be terminated in accordance with the provisions of Section 1 of the Standard Terms and Conditions attached hereto.

RLP 129

3A. COMPENSATION.

(a) BASE SALARY. During the period that Executive is employed with the Company hereunder, the Company shall pay Executive an annual base salary of $750,000 (the “Base Salary”), payable in equal biweekly installments (or, if different, in accordance with the Company’s payroll practice as in effect from time to time). The Base Salary shall be reviewed at least annually and may be increased from time to time in the discretion of the Board and the Company. For all purposes under this Agreement, the term “Base Salary” shall refer to the Base Salary as in effect from time to time.

(b) DISCRETIONARY BONUS. During the period that Executive is employed with the Company hereunder, Executive shall be eligible to receive discretionary annual bonuses (payable at the same time as bonuses of other executives at the Company, but in no event later than March 15 of the year following the year with respect to which such bonuses are payable), as determined by the Compensation Committee of the Board.

(c) BENEFITS. From the Effective Date through the date of termination of Executive’s employment with the Company for any reason, Executive shall be entitled to participate in any welfare, health and life insurance, pension, retirement, benefit and incentive programs as may be adopted from time to time by the Company on the same basis as that provided to similarly situated senior executives of the Company. Without limiting the generality of the foregoing, Executive shall be entitled to the following benefits:

(i) Reimbursement for Business Expenses. During the period that Executive is employed with the Company hereunder, the Company shall reimburse Executive for all reasonable expenses incurred by Executive in performing Executive’s duties for the Company, on the same basis as similarly situated senior executives and in accordance with the Company’s policies as in effect from time to time.

(ii) Vacation. During the period that Executive is employed with the Company hereunder, Executive shall be entitled to paid vacation each year, in accordance with the plans, policies, programs and practices of the Company applicable to similarly situated senior executives of the Company generally.

(d) EQUITY AWARDS. During the Term, Executive shall be eligible to receive such periodic grants of stock options, restricted stock units and other equity or equity-linked awards of the Company (or its affiliates), commensurate with Executive’s role as the Company’s Chief Executive Officer, as may be determined by the Board (or its Compensation Committee) in its discretion.

4A. NOTICES. All notices and other communications under this Agreement shall be in writing and shall be given by first-class mail, certified or registered with return receipt requested, or by hand delivery, overnight delivery by a nationally recognized carrier, facsimile transmission or PDF, in each case to the applicable address set forth below (or, if by facsimile transmission or PDF, to a facsimile transmission number or email account provided by the other party), and any

2

RLP 130 such notice is deemed effectively given when received by the recipient (or if receipt is refused by the recipient, when so refused):

If to the Company: Match Group, Inc.

8750 North Central Expressway 14th Floor Dallas, TX 75231 Attention: General Counsel

If to Executive: At the most recent address for Executive on record at the Company.

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

5A. GOVERNING LAW; JURISDICTION. This Agreement and the legal relations thus created between the parties hereto (including, without limitation, any dispute arising out of or related to this Agreement) shall be governed by and construed under and in accordance with the internal laws of the State of Texas without reference to its principles of conflicts of laws. Any dispute between the parties hereto arising out of or related to this Agreement will be heard exclusively and determined before an appropriate federal court located in the State of Texas, or an appropriate Texas state court, and each party hereto submits itself and its property to the exclusive jurisdiction of the foregoing courts with respect to such disputes. The parties hereto acknowledge and agree that this Agreement was executed and delivered in the State of Texas and that, in the course of performing duties hereunder for the Company, Executive shall have multiple contacts with the business and operations of the Company, as well as other businesses and operations in the State of Texas, and that for those and other reasons this Agreement and the undertakings of the parties hereunder bear a reasonable relation to the State of Texas. Each party hereto (i) agrees that service of process may be made by mailing a copy of any relevant document to the address of the party set forth above, (ii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the courts referred to above on the grounds of inconvenient forum or otherwise as regards any dispute between the parties hereto arising out of or related to this Agreement, (iii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the laying of venue in the courts referred to above as regards any dispute between the parties hereto arising out of or related to this Agreement and (iv) agrees that a judgment or order of any court referred to above in connection with any dispute between the parties hereto arising out of or related to this Agreement is conclusive and binding on it and may be enforced against it in the courts of any other jurisdiction.

6A. COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

7A. STANDARD TERMS AND CONDITIONS. Executive expressly understands and acknowledges that the Standard Terms and Conditions attached hereto are incorporated herein by reference, deemed a part of this Agreement and are binding and enforceable provisions of this

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Agreement. References to “this Agreement” or the use of the term “hereof” shall refer to this Agreement and the Standard Terms and Conditions attached hereto, taken as a whole.

8A. SECTION 409A OF THE INTERNAL REVENUE CODE.

(a) The date of Executive’s “separation from service”, as defined in Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the rules and regulations issued thereunder (“Section 409A”) (and as determined by applying the default presumptions in Treas. Reg. §1.409A-1(h)(1)(ii)), shall be treated as the date of her termination of employment (the “Termination Date”) for purposes of determining the time of payment of any amount that becomes payable to Executive under this Agreement and under any Plan upon her termination of employment and that constitutes a deferral of compensation subject to Section 409A after taking into account all exclusions applicable to such payment under Section 409A.

(b) To the extent any payment otherwise required to be made to Executive hereunder or under any Plan on account of her separation from service constitutes a deferral of compensation subject to Section 409A after taking into account all exclusions applicable to such payment under Section 409A, and Executive is a “specified employee” (within the meaning of Section 409A) as of the date of her separation from service, then such payment shall not be made prior to the first business day after the earlier of (i) the expiration of six months from the date of Executive’s separation from service for any reason other than death, or (ii) the date of her death (such first business day, the “Delayed Payment Date”). On the Delayed Payment Date or, if earlier, upon Executive’s death, there shall be paid to Executive or, if she has died, to her estate, in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, plus interest on such delayed payments for the period of such delay computed at the then applicable borrowing rate of the Company as of the commencement of such delay. In no event shall the Company be required to pay Executive any “gross-up” or other payment with respect to any taxes, interest or penalties imposed under Section 409A with respect to any benefit paid to Executive hereunder.

(c) To the extent permitted under Section 409A, the Company also agrees to work with Executive in good faith and take any reasonable steps requested by Executive to avoid adverse tax consequences to Executive resulting from the failure of the terms of this Agreement or any Plan to comply with Section 409A or any operational failures to comply with the requirements of Section 409A in connection with any payments or benefits paid or provided to Executive under this Agreement or any Plan: provided, that the steps requested do not cause the Company to incur any additional costs (other than incidental costs) associated with taking such steps. Any modification to the terms of this Agreement or any Plan resulting from the immediately preceding sentence shall maintain the original intent and economic benefit to Executive of the applicable provision of this Agreement or such Plan, to the maximum extent reasonably possible without violating any applicable requirement of Section 409A and without requiring any additional payments to Executive.

(d) To the extent that the reimbursement of any expenses or the provision of any in-kind benefits under this Agreement or under any Plan constitute “deferred compensation” under Section 409A (after taking into account all exclusions applicable to such payments or benefits under Section 409A), (i) any such reimbursement shall be paid as soon as administratively practicable

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RLP 132 after the expense in question has been incurred and Executive has submitted to the Company the documentation required for the reimbursement of such expense, but in no event later than December 31 of the year following the year in which the expense was incurred; (ii) the amount of such expenses eligible for reimbursement, or in- kind benefits to be provided, during any one calendar year shall not affect the amount of such expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year; and (iii) Executive’s right to receive such reimbursements, or in-kind benefits, shall not be subject to liquidation or exchange for any other benefit.

(e) In the case of any amounts payable to Executive under this Agreement, or under any Plan, that may be treated as payable in the form of “a series of installment payments”, as defined in Treasury Regulation Section 1.409A-2(b)(2)(iii), Executive’s right to receive such payments shall be treated as a right to receive a series of separate payments for purposes of such Treasury Regulation; provided, however, that in the case of any such amounts so payable under any Plan, the foregoing provision shall apply to the amounts so payable thereunder only if either (x) Executive first acquires a legally binding right to receive such amounts on or after the Effective Date, or (y) if she first acquired such right before such date, such Plan had a comparable separate payment designation provision in effect for the amounts so payable under the Plan either at the time Executive first acquired her legally binding right to such payments, or if later, on December 31, 2008.

(f) For purposes of the foregoing, “Plan” shall mean any plan, program, agreement (other than this Agreement) or other arrangement maintained by the Company or any of its affiliates that is a “nonqualified deferred compensation plan” within the meaning of Section 409A and under which any payments or benefits are to be made or provided to Executive, to the extent they constitute a deferral of compensation subject to the requirements of Section 409A after taking into account all exclusions applicable to such payments or benefits under Section 409A.

9A. INDEMNIFICATION. The Company shall indemnify, defend and hold harmless Executive to the fullest extent permitted by applicable law in effect at the time of the subject act or omission, and shall advance to Executive reasonable attorneys’ fees and expenses as such fees and expenses are incurred (subject to an undertaking from Executive to repay such advances if it shall be finally determined by a judicial decision which is not subject to further appeal that Executive was not entitled to the reimbursement of such fees and expenses), and Executive will be entitled to the protection of any insurance policies that the Company may elect to maintain generally for the benefit of its directors and officers (subject to the terms and conditions contained therein), against all liabilities, costs, charges and expenses incurred or sustained by her in connection with a Proceeding if Executive acted in good faith and in a manner Executive reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to a criminal proceeding, had no reasonable cause to believe Executive’s conduct was unlawful. For the purposes of this Section 9A, a “Proceeding” shall mean any action, suit or proceeding, whether civil, criminal, administrative or investigative, in which Executive is made, or is threatened to be made, a party to, or a witness in, such action, suit or proceeding by reason of the fact that Executive is or was an officer, director or employee of Company or any of its affiliates or is or was serving as an officer, director, member, employee, trustee or agent of any other entity at the request of the Company. This

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Section 9A shall not limit Executive’s rights to indemnification under the Company’s bylaws and the Company’s certificate of incorporation, as in effect from time to time.

10A. Reduction of Certain Payments. Notwithstanding anything to the contrary in this Agreement, in any other agreement between Executive and the Company or any plan maintained by the Company, if there is a Section 280G Change in Control (as defined in Section 10A(e)(i) below), the following rules shall apply:

(a) Except as otherwise provided in Section 10A(c) below, if it is determined in accordance with Section 10A(d) below that any portion of the Contingent Compensation Payments (as defined in 10A(e)(ii) below) that otherwise would be paid or provided to Executive or for her benefit in connection with the 280G Change in Control would be subject to the excise tax imposed under Section 4999 of the Code (“Excise Tax”), then such Contingent Compensation Payments shall be reduced by the smallest total amount necessary in order for the aggregate present value of all such Contingent Compensation Payments after such reduction, as determined in accordance with the applicable provisions of Section 280G of the Code and the regulations issued thereunder, not to exceed the Excise Tax Threshold Amount (as defined in Section 10A(e)(iii) below).

(b) If the Auditor (as defined in Section 10A(d) below) determines that any reduction is so required, the Payments to be reduced, and the reduction to be made to such Payments, shall be determined by the Auditor in its sole discretion in a manner which will result in the least economic cost to Executive, and if the reduction with respect to two or more Payments would result in equivalent economic cost to Executive, such Payments shall be reduced in the inverse chronological order of the dates on which such Payments were otherwise scheduled to be made to Executive, until the required reduction has been fully achieved.

(c) Notwithstanding the foregoing, no reduction in any of the Executive’s Contingent Compensation Payments shall be made pursuant to Section 10A(a) above if it is determined in accordance with Section 10A(d) below that the After Tax Amount of the Contingent Compensation Payments payable to Executive without such reduction would exceed the After Tax Amount of the reduced Contingent Compensation Payments payable to her in accordance with Section 10A(a) above. For purposes of the foregoing, (x) the “After Tax Amount” of the Contingent Compensation Payments, as computed with, and as computed without, the reduction provided for under Section 10A(a) above, shall mean the amount of the Contingent Compensation Payments, as so computed, that Executive would retain after payment of all taxes (including without limitation any federal, state or local income taxes, the Excise Tax or any other excise taxes, any medicare or other employment taxes, and any other taxes) imposed on such Contingent Compensation Payments in the year or years in which payable; and (y) the amount of such taxes shall be computed at the rates in effect under the applicable tax laws in the year in which the 280G Change in Control occurs, or if then ascertainable, the rates in effect in any later year in which any Contingent Compensation Payment is expected to be paid following the 280G Change in Control, and in the case of any income taxes, by using the maximum combined federal, state and (if applicable) local income tax rates then in effect under such laws.

(d) A determination as to whether any Excise Tax is payable with respect to Executive’s Contingent Compensation Payments and if so, as to the amount thereof, and a

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RLP 134 determination as to whether any reduction in Executive’s Contingent Compensation Payments is required pursuant to the provisions of Sections 10A(a) and 10A(c) above, and if so, as to the amount of the reduction so required, shall be made by no later than 15 days prior to the closing of the transaction or the occurrence of the event that constitutes the 280G Change in Control. Such determinations, and the assumptions to be utilized in arriving at such determinations, shall be made by an independent auditor (the “Auditor”) jointly selected by Executive and the Company, all of whose fees and expenses shall be borne and directly paid solely by the Company. The Auditor shall be a nationally recognized public accounting firm which has not, during the two years preceding the date of its selection, acted in any way on behalf of the Company or any of its affiliates. If Executive and the Company cannot agree on the firm to serve as the Auditor, then Executive and the Company shall each select one accounting firm and those two firms shall jointly select the accounting firm to serve as the Auditor. The Auditor shall provide a written report of its determinations, including detailed supporting calculations, both to Executive and to the Company. The determinations made by the Auditor pursuant to this Section 10A(d) shall be binding upon Executive and the Company.

(e) For purposes of the foregoing, the following terms shall have the following respective meanings:

(i) “280G Change in Control” shall mean a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the assets of the Company, as determined in accordance with section 280G(b)(2) of the Code and the regulations issued thereunder.

(ii) “Contingent Compensation Payment” shall mean any payment or benefit in the nature of compensation that is to be paid or provided to Executive or for her benefit in connection with a 280G Change in Control (whether under this Agreement or otherwise, including by the entity, or by any affiliate of the entity, whose acquisition of the stock of the Company or its assets constitutes the Change in Control) if Executive is a “disqualified individual” (as defined in Section 280G(c) of the Code) at the time of the 280G Change in Control, to the extent that such payment or benefit is “contingent” on the 280G Change in Control within the meaning of Section 280G(b)(2)(A)(i) of the Code and the regulations issued thereunder.

(iii) “Excise Tax Threshold Amount” shall mean an amount equal to (x) three times Executive’s “base amount” within the meaning of Section 280G(b)(3) of the Code and the regulations issued thereunder, less (y) $1,000.

[The Signature Page Follows]

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IN WITNESS WHEREOF, the Company has caused this Agreement to be executed and delivered by its duly authorized officer and Executive has executed and delivered this Agreement on July 20, 2018.

Match Group, Inc.

/s/ Jared F. Sine By: Jared F. Sine Title: General Counsel and Secretary

/s/ Amanda W. Ginsberg AMANDA W. GINSBERG

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STANDARD TERMS AND CONDITIONS

1. TERMINATION OF EXECUTIVE’S EMPLOYMENT.

(a) DEATH. In the event Executive’s employment hereunder is terminated by reason of Executive’s death, the Company shall pay Executive’s designated beneficiary or beneficiaries, within thirty (30) days of Executive’s death (or such earlier date as may be required by law) in a lump sum in cash, (i) Executive’s Base Salary through the end of the month in which her death occurs; and (ii) any Accrued Obligations (as defined in Section 1(f) below). In addition, any incentive equity or equity-linked awards in or relating to equity of the Company or its subsidiaries (e.g., restricted stock, restricted stock units, stock options, phantom stock or similar instruments) that are outstanding and unvested as of the date of such termination of employment and that would have vested at any time through the first anniversary of the Termination Date shall vest upon her death and shall be settled in accordance with their terms. Notwithstanding the foregoing, (A) any amounts that would vest under this provision but for the fact that outstanding performance conditions have not been satisfied shall vest only if, and at such point as, such performance conditions are satisfied, and (B) the terms of any future awards may be varied in the governing documents of such award.

(b) DISABILITY. If, as a result of Executive’s incapacity due to physical or mental illness (“Disability”), Executive shall be unable to substantially perform Executive’s duties with the Company for a period of four (4) consecutive months and, within thirty (30) days after written notice of a pending termination for Disability is provided to Executive by the Company (in accordance with Section 4A hereof), Executive shall not have been able to substantially perform Executive’s duties, Executive’s employment under this Agreement may be terminated by the Company for Disability. During any period prior to such termination during which Executive is absent from the full-time performance of Executive’s duties with the Company due to Disability, the Company shall continue to pay Executive’s Base Salary at the rate in effect at the commencement of such period of Disability, offset by any amounts payable to Executive under any disability insurance plan or policy provided by the Company. Upon termination of Executive’s employment due to Disability, the Company shall pay Executive within thirty (30) days of such termination (or such earlier date as may be required by law) in a lump sum in cash (i) Executive’s Base Salary through the end of the month in which termination occurs, offset by any amounts payable to Executive under any disability insurance plan or policy provided by the Company and (ii) any Accrued Obligations.

(c) TERMINATION FOR CAUSE; TERMINATION BY EXECUTIVE WITHOUT GOOD REASON. Upon the termination of Executive’s employment by the Company for Cause (as defined below) or by Executive without Good Reason (as defined below), the Company shall have no further obligation hereunder, except for the payment of any Accrued Obligations. As used herein, “Cause” shall mean: (i) the plea of guilty or nolo contendere to, or conviction for, a felony offense by Executive; provided, however, that (A) after indictment, the Company may suspend Executive from the rendition of services, but without limiting or modifying in any other way the Company’s obligations under this Agreement, and (B) Executive’s employment shall be immediately reinstated if the indictment is dismissed or otherwise dropped and there is not otherwise

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grounds to terminate Executive’s employment for Cause; (ii) a material breach by Executive of a fiduciary duty owed to the Company; (iii) a material breach by Executive of any of the covenants made by Executive in Section 2 hereof; (iv) Executive’s continued willful failure to perform or gross neglect of the material duties required by this Agreement (other than any such failure resulting from incapacity due to physical or mental illness); or (v) a knowing and material violation by Executive of any material Company policy pertaining to ethics, wrongdoing or conflicts of interest, which policy had been provided to Executive in writing or otherwise made generally available prior to such violation; provided, that in the case of conduct described in clauses (ii), (iii), (iv) or (v) above which is capable of being cured, Executive shall have a period of no less than twenty (20) days after Executive is provided with written notice (specifying in reasonable detail the acts or omissions believed to constitute Cause and the steps necessary to remedy such condition, if curable) in which to cure, which such notice specifically identifies the breach or the violation that the Company believes constitutes Cause.

(d) TERMINATION BY THE COMPANY OTHER THAN FOR DEATH, DISABILITY OR CAUSE OR RESIGNATION BY EXECUTIVE FOR GOOD REASON. If Executive’s employment hereunder is terminated prior to the expiration of the Term by the Company for any reason other than Executive’s death, Disability or Cause, or if Executive terminates her employment hereunder prior to the expiration of the Term for Good Reason, then:

(i) the Company shall pay to Executive an amount equal to the Base Salary that would have been paid to Executive through the later of (x) the end of the then-current Term and (y) twelve (12) months from the date of such termination (the longer of (x) and (y), the “Severance Period”);

(ii) the Company shall pay Executive within thirty (30) days after the date of such termination (or such earlier date as may be required by applicable law) in a lump sum in cash any Accrued Obligations;

(iii) any incentive equity or equity-linked awards in or relating to equity of the Company or its subsidiaries (e.g., restricted stock, restricted stock units, stock options, phantom stock or similar instruments), that are outstanding and unvested as of the date of such termination of employment and that would have vested at any time through the first anniversary of the Termination Date shall vest immediately upon such termination and shall be settled in accordance with their terms. Notwithstanding the foregoing, (1) any amounts that would vest under this provision but for the fact that outstanding performance conditions have not been satisfied shall vest only if, and at such point as, such performance conditions are satisfied, and (2) the terms of any future awards may be varied in the governing documents of such award; and

(iv) the Company shall, during the Severance Period, provide Executive with continued coverage under the Company’s group health plan, at the Company’s cost, or with an additional monthly payment in an amount necessary to cover the full premiums for continued healthcare coverage under the Company’s plans through COBRA, at the same coverage level as in effect for Executive as of the Termination Date. The payment under this clause (iv) shall be grossed up for applicable taxes. Notwithstanding the foregoing, in the event Executive obtains alternative employment during the Severance Period offering employer-paid healthcare coverage that is no

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less favorable than the benefits provided under the Company’s group health plan, Executive shall enroll in and obtain coverage under such new employer’s plan at the earliest opportunity and the Company’s obligations under this clause (iv) shall cease as of the effective date of such alternate coverage.

The payments and severance benefits described in Section 1(d), with the exception of Section 1(d)(ii), shall be subject to Executive’s compliance with the restrictive covenants set forth in Section 2 hereof and Executive’s execution within twenty-one (21) days following the Termination Date (or such longer period as may be required by applicable law) and non-revocation (during the applicable revocation period) of a general release of the Company and its affiliates, in substantially the form annexed hereto as Exhibit A (the “Release”). Any severance benefits due to Executive pursuant to Section 1(d)(i) shall be paid in equal biweekly installments (or, if different, in accordance with the Company’s payroll practice as in effect immediately prior to Executive’s Termination Date) over the course of the Severance Period beginning on the first business day of the second month following the month in which Executive’s Separation from Service (as such term is defined below) took place (plus interest on the amount delayed from the Termination Date to the date payment begins at the then applicable borrowing rate of the Company as of the commencement of such delay). Any benefits due to Executive pursuant to Section 1(d)(iv) shall be paid through the Company’s payroll on the first regularly scheduled pay date of each month.

For purposes of this Agreement, “Good Reason” shall mean actions taken by the Company resulting in a material negative change in the employment relationship. For these purposes, a “material negative change in the employment relationship” shall include, without limitation, the occurrence of any of the following without Executive’s prior written consent: (A) requiring Executive to report to any person or persons other than the Board and its Chairman, (B) a diminution in title or the assignment of duties and responsibilities to, or limitation on duties of, Executive inconsistent with Executive’s position as Chief Executive Officer of the Company, excluding for this purpose any such instance that is an isolated and inadvertent action not taken in bad faith or that is authorized pursuant to this Agreement, (C) any material reduction in Executive’s Base Salary, (D) requiring Executive’s principal place of business to be in a location outside of the Dallas, Texas metropolitan area, (E) the failure of the Company during the Term to nominate Executive to stand for election to the Board or the removal of the Executive from the Board, or (F) any material breach by the Company of this Agreement or any other written agreement between Executive and the Company or any Company affiliate; provided that in no event shall Executive’s resignation be for “Good Reason” unless (x) an event or circumstance constituting “Good Reason” shall have occurred and Executive provides the Company with written notice thereof within thirty (30) days after Executive has knowledge of the occurrence or existence of such event or circumstance, which notice specifically identifies the event or circumstance that Executive believes constitutes Good Reason, (y) the Company fails to correct the circumstance or event so identified within thirty (30) days after the receipt of such notice, and (z) Executive resigns within ninety (90) days after the date of delivery of the notice referred to in clause (x) above.

(e) OFFSET. If Executive obtains other employment during the period of time in which the Company is required to make payments to Executive pursuant to Section 1(d)(i) above, the amount of any installment payments remaining to be made to Executive thereunder at the time

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such other employment commences shall be reduced, on a dollar for dollar basis, in the order of the scheduled dates of payment of such remaining installments (taking into account any delay in any installment payment required under Section 9A of the Agreement) by the amount of compensation received by Executive from such other employment on or prior to the scheduled date of payment of each such remaining installment. For purposes of this Section 1(e), Executive shall have an obligation to inform the Company regarding Executive’s employment status following termination and during the period of time in which the Company is making payments to Executive under Section 1(d)(i) above. Executive shall have no duty to seek subsequent employment or otherwise mitigate the Company’s obligations hereunder following termination of employment.

(f) ACCRUED OBLIGATIONS. As used in this Agreement, “Accrued Obligations” shall mean the sum of (i) any portion of Executive’s accrued but unpaid Base Salary through the date of death or termination of employment for any reason, as the case may be; (ii) any unreimbursed business expenses; (iii) the value of any accrued and unused vacation days; and (iv) any compensation previously earned but deferred by Executive (together with any interest or earnings thereon) that has not yet been paid and that is not otherwise scheduled to be paid at a later date pursuant to any deferred compensation arrangement of the Company to which Executive is a party, if any (provided, that any election made by Executive pursuant to any deferred compensation arrangement that is subject to Section 409A regarding the schedule for payment of such deferred compensation shall prevail over this Section 1(f) to the extent inconsistent herewith).

(g) NON-RENEWAL. If the Company delivers a Non-Renewal Notice to Executive then, provided Executive’s employment hereunder continues through the expiration date then in effect (and that Executive would, absent such Non-Renewal Notice, be willing to continue employment on the terms and conditions contained in this Agreement at such time), effective as of such expiration date, Executive’s employment with the Company automatically will terminate and the Company and Executive shall have the same rights and obligations hereunder as they would if the Company had terminated Executive’s employment hereunder at the end of the Term for any reason other than Executive’s death, Disability or Cause.

(h) RESIGNATION FROM ALL POSITIONS. Notwithstanding any other provision of this Agreement, upon the termination of Executive’s employment for any reason, unless otherwise requested by the Board, Executive shall immediately resign as of the Termination Date from all positions that she holds with the Company and any of its subsidiaries, including, without limitation, the Board and all boards of directors of any subsidiary of the Company or any parent company of the Company. Executive hereby agrees to execute any and all documentation to effectuate such resignations upon request by the Company.

(i) POST-TERMINATION EXERCISE PERIOD FOR STOCK OPTIONS. In the event of Executive’s termination of employment for any reason other than a termination of employment for Cause, any vested options to purchase Company stock, subsidiary stock or parent stock (including options vesting as a result of an acceleration of vesting upon a termination of employment without Cause or for Good Reason), shall remain exercisable through the date that is eighteen months following the date of such termination or, if earlier, through the scheduled expiration date of such options.

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2. CONFIDENTIAL INFORMATION; NON-COMPETITION; NON-SOLICITATION; AND PROPRIETARY RIGHTS.

(a) CONFIDENTIALITY. Executive acknowledges that, while employed by the Company, Executive has occupied and will occupy a position of trust and confidence. The Company has provided and shall provide Executive with “Confidential Information” as referred to below. Executive shall not, except as Executive in good faith deems appropriate to perform Executive’s duties hereunder or as required by applicable law or regulation, governmental investigation, subpoena, or in connection with enforcing the terms of this Agreement (or any agreement referenced herein) without limitation in time, communicate, divulge, disseminate, disclose to others or otherwise use, whether directly or indirectly, any Confidential Information regarding the Company or any of its subsidiaries or affiliates. Notwithstanding the foregoing or anything herein to the contrary, nothing contained herein shall prohibit Executive from (i) filing a charge with, reporting possible violations of federal law or regulation to, participating in any investigation by, or cooperating with any governmental agency or entity or making other disclosures that are protected under the whistleblower provisions of applicable law or regulation and/or (ii) communicating directly with, cooperating with, or providing information (including trade secrets) in confidence to, any federal, state or local government regulator (including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice) for the purpose of reporting or investigating a suspected violation of law, or from providing such information to Executive’s attorney or in a sealed complaint or other document filed in a lawsuit or other governmental proceeding. Pursuant to 18 USC Section 1833(b), Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made: (x) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (y) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

“Confidential Information” shall mean information about the Company or any of its subsidiaries or affiliates, and their respective businesses, employees, consultants, contractors, clients and customers that is not disclosed by the Company or any of its subsidiaries or affiliates for financial reporting purposes or otherwise generally made available to the public (other than by Executive’s breach of the terms hereof or the terms of any previous confidentiality obligation by Executive to the Company) and that was learned or developed by Executive in the course of employment by the Company or any of its subsidiaries or affiliates, including (without limitation) any proprietary knowledge, trade secrets, data, formulae, information and client and customer lists and all papers, resumes, and records (including computer records) of the documents containing such Confidential Information, provided, that Confidential Information shall not include any information that is generally known to the public or in the relevant industry or which becomes known through no fault of Executive. Executive acknowledges that such Confidential Information is specialized, unique in nature and of great value to the Company and its subsidiaries or affiliates, and that such information gives the Company and its subsidiaries or affiliates a competitive advantage. Executive agrees to deliver, return to the Company (or destroy, to the extent physically returning the following is not possible), at the Company’s written request at any time or upon termination or expiration of Executive’s employment or as soon thereafter as possible, whether kept in tangible form or intangible

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form in the cloud or otherwise, all documents, computer tapes and disks, records, lists, data, drawings, prints, notes and written and digital information (and all copies thereof) furnished by the Company and its subsidiaries or affiliates or prepared by Executive in the course of Executive’s employment by the Company and its subsidiaries or affiliates; provided, that, Executive may retain her personal effects, contacts, copies of documentation reasonably necessary for Executive to prepare her tax returns and documents relating to Executive’s compensation. As used in this Agreement, “subsidiaries” and “affiliates” shall mean any company controlled by, controlling or under common control with the Company.

(b) NON-COMPETITION.

(i) In consideration of this Agreement, and for other good and valuable consideration provided hereunder, the receipt and sufficiency of which are hereby acknowledged by Executive, Executive hereby agrees and covenants that, during Executive’s employment with the Company and for a period of twelve (12) months thereafter, Executive shall not, without the prior written consent of the Company, directly or indirectly, engage in or become associated with a Competitive Activity.

(ii) For purposes of this Section 2(b), a “Competitive Activity” means engaging in the business of providing online or app-based dating services or in such other business involving the provision of the same or similar to products or services that any business of the Company is engaged in providing as of the Termination Date (the “Company Products or Services”), provided such business or endeavor is in the United States, or in any foreign jurisdiction in which the Company provides, or has provided during the Term, the relevant Company Group Products or Services.

(iii) For purposes of this Section 2(b), Executive shall be considered to have become “associated with a Competitive Activity” if Executive becomes directly or indirectly involved as an owner, principal, employee, officer, director, independent contractor, representative, stockholder, financial backer, agent, partner, member, advisor, lender, consultant or in any other individual or representative capacity with any individual, partnership, corporation or other organization that is engaged in a Competitive Activity.

(iv) Notwithstanding anything else in this Section 2(b), (A) Executive may become employed by or provide services to a partnership, corporation or other organization that is engaged in a Competitive Activity so long as Executive has no direct or indirect responsibilities or involvement in the Competitive Activity, and (B) Executive may own, for investment purposes only, up to five percent (5%) of the outstanding capital stock of any publicly-traded corporation engaged in a Competitive Activity if the stock of such corporation is either listed on a national stock exchange or on the NASDAQ National Market System and if Executive is not otherwise affiliated with such corporation. If Executive’s employment hereunder is terminated by the Company for any reason other than Executive’s death, Disability or Cause, or by Executive for Good Reason, then Executive shall only be subject to the restrictions contained in this Section 2(b) during the twelve (12)-month period after termination to the extent reasonably necessary to protect the Company from unfair competition resulting from any potential misuse of its Confidential

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Information by the Executive (as determined by the Company in good faith), and provided the Company continues to pay Executive her base salary during such period.

(c) NON-SOLICITATION OF EMPLOYEES. Executive recognizes that she possesses and will possess Confidential Information about other employees, consultants and contractors of the Company and its subsidiaries relating to their education, experience, skills, abilities, compensation and benefits, and inter- personal relationships with suppliers to and customers of the Company and its subsidiaries. Executive recognizes that the information she possesses and will possess about these other employees, consultants and contractors is not generally known, is of substantial value to the Company and its subsidiaries in developing their respective businesses and in securing and retaining customers, and has been and will be acquired by Executive because of Executive’s business position with the Company. Executive agrees that, during Executive’s employment with the Company, and for a period of twelve (12) months thereafter, Executive will not, directly or indirectly, solicit, recruit or hire any employee of the Company or any of its subsidiaries (or any individual who was an employee of the Company or any of its subsidiaries at any time during the six (6) months prior to such act of hiring, solicitation or recruitment) for the purpose of being employed by Executive or by any business, individual, partnership, firm, corporation or other entity on whose behalf Executive is acting as an agent, representative or employee and that Executive will not convey any such Confidential Information or trade secrets about other employees of the Company or any of its subsidiaries to any other person except within the scope of Executive’s duties hereunder. Notwithstanding the foregoing, Executive is not precluded from soliciting or hiring any individual who (i) initiates discussions regarding employment on his or her own, (ii) responds to any public advertisement or general solicitation, or (ii) has been terminated by the Company prior to the solicitation.

(d) NON-SOLICITATION OF BUSINESS PARTNERS. During Executive’s employment with the Company, and for a period of twelve (12) months thereafter, Executive shall not, without the prior written consent of the Company, persuade or encourage any business partners or business affiliates of the Company or its subsidiaries to cease doing business with the Company or any of its subsidiaries or to engage in any business competitive with the Company or its subsidiaries.

(e) PROPRIETARY RIGHTS; ASSIGNMENT. All Employee Developments are and shall be made for hire by Executive for the Company or any of its subsidiaries or affiliates. “Employee Developments” means any discovery, invention, design, method, technique, improvement, enhancement, development, computer program, machine, algorithm or other work or authorship that (i) relates to the business or operations of the Company or any of its subsidiaries or affiliates, or (ii) results from or is suggested by any undertaking assigned to Executive or work performed by Executive for or on behalf of the Company or any of its subsidiaries or affiliates, whether created alone or with others, during or after working hours (including before the Effective Date). All Confidential Information and all Employee Developments shall remain the sole property of the Company or any of its subsidiaries or affiliates. Executive has not acquired and shall not acquire any proprietary interest in any Confidential Information or Employee Developments developed or acquired during the Term or during Executive’s employment with the Company before the Effective Date. To the extent Executive may, by operation of law or otherwise, acquire any right,

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title or interest in or to any Confidential Information or Employee Development, Executive hereby assigns to the Company all such proprietary rights. Executive shall, both during and after the Term, upon the Company’s request, promptly execute and deliver to the Company all such assignments, certificates and instruments, and shall promptly perform such other acts, as the Company may from time to time in its discretion deem necessary or desirable to evidence, establish, maintain, perfect, enforce or defend the Company’s rights in Confidential Information and Employee Developments.

(f) COMPLIANCE WITH POLICIES AND PROCEDURES. During the period that Executive is employed with the Company hereunder, Executive shall adhere to the policies and standards of professionalism set forth in the Company’s Policies and Procedures as they may exist from time to time and which are provided to Executive in writing.

(g) SURVIVAL OF PROVISIONS. The obligations contained in this Section 2 shall, to the extent provided in this Section 2, survive the termination or expiration of Executive’s employment with the Company and, as applicable, shall be fully enforceable thereafter in accordance with the terms of this Agreement. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 2 is excessive in duration or scope or is unreasonable or unenforceable under the laws of that state, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the law of that state.

3. TERMINATION OF PRIOR AGREEMENTS/EXISTING CLAIMS/AUTHORITY. Except for any agreements relating to currently outstanding equity or equity-linked awards as of the date of this Agreement (which remain outstanding, but subject to the terms of this Agreement), this Agreement constitutes the entire agreement between the parties and, as of the Effective Date, terminates and supersedes any and all prior agreements and understandings (whether written or oral) between the parties with respect to the subject matter of this Agreement. Executive acknowledges and agrees that neither the Company nor anyone acting on its behalf has made, and no such person or entity is making, and in executing this Agreement, Executive has not relied upon, any representations, promises or inducements except to the extent the same is expressly set forth in this Agreement. The Company represents that it has due authority to enter into this Agreement and has taken all necessary corporate action to enter into this Agreement and provide the compensation set forth herein.

4. ASSIGNMENT; SUCCESSORS. This Agreement is personal in its nature and none of the parties hereto shall, without the consent of the others, assign or transfer this Agreement or any rights or obligations hereunder, other than Executive to her heirs and beneficiaries upon her death to the extent provided in this Agreement; provided that in the event of the merger, consolidation, transfer, or sale of all or substantially all of the assets of the Company with or to any other individual or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall expressly assume such obligations in writing and discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder, and in the event of any such assignment or transaction, all references herein to the “Company” shall refer to the Company’s assignee or successor hereunder.

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5. WITHHOLDING. The Company shall make such deductions and withhold such amounts from each payment and benefit made or provided to Executive hereunder, as may be required from time to time by applicable law, governmental regulation or order.

6. HEADING REFERENCES. Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose. References to “this Agreement” or the use of the term “hereof” shall refer to these Standard Terms and Conditions and the Employment Agreement attached hereto, taken as a whole.

7. REMEDIES FOR BREACH.

(a) Executive expressly agrees and understands that Executive will notify the Company in writing of any alleged breach of this Agreement by the Company, and the Company will have thirty (30) days from receipt of Executive’s notice to cure any such breach. Executive expressly agrees and understands that in the event of any termination of Executive’s employment by the Company during the Term, the Company’s contractual obligations to Executive shall be fulfilled through compliance with its obligations under the Standard Terms and Conditions.

(b) Executive expressly agrees and understands that the remedy at law for any breach by Executive of Section 2 of the Standard Terms and Conditions will be inadequate and that damages flowing from such breach are not usually susceptible to being measured in monetary terms. Accordingly, it is acknowledged that, upon Executive’s violation of any provision of such Section 2, the Company shall be entitled to seek from any court of competent jurisdiction immediate injunctive relief and a temporary order restraining any threatened or further breach as well as an equitable accounting of all profits or benefits arising out of such violation. Nothing in this Agreement shall be deemed to limit the Company’s remedies at law or in equity for any breach by Executive of any of the provisions of this Agreement, including Section 2, which may be pursued by or available to the Company.

8. WAIVER; MODIFICATION. Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto.

9. SEVERABILITY. In the event that a court of competent jurisdiction determines that any portion of this Agreement is in violation of any law or public policy, only the portions of this Agreement that violate such law or public policy shall be stricken. All portions of this Agreement that do not violate any statute or public policy shall continue in full force and effect. Further, any court order striking any portion of this Agreement shall modify the stricken terms as narrowly as possible to give as much effect as possible to the intentions of the parties under this Agreement.

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ACKNOWLEDGED AND AGREED:

Date: July 20, 2018

MATCH GROUP, INC.

/s/ Jared F. Sine By: Jared F. Sine Title: General Counsel and Secretary

/s/ Amanda W. Ginsberg AMANDA W. GINSBERG

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Exhibit A Form of Release

THIS RELEASE (the “Release”) is entered into between Amanda W. Ginsberg (“Executive”) and Match Group, Inc., a Delaware corporation (the “Company”), for the benefit of the Company. The entering into and non-revocation of this Release is a condition to Executive’s right to receive certain payments and benefits under Section 1(d), with the exception of Section 1(d)(iii), of the employment agreement entered into by and between Executive and the Company, dated as of July 20, 2018 (the “Employment Agreement”). Capitalized terms used and not defined herein shall have the meaning provided in the Employment Agreement. Accordingly, Executive and the Company agree as follows. 1. In consideration for the payments and other benefits provided to Executive by the Employment Agreement, to which Executive is not otherwise entitled, and the sufficiency of which Executive acknowledges, Executive represents and agrees, as follows: (a) Executive, for herself, her heirs, administrators, representatives, executors, successors and assigns (collectively “Releasers”), hereby irrevocably and unconditionally releases, acquits and forever discharges and agrees not to sue the Company or any of its parents, subsidiaries, divisions, affiliates and related entities and their current and former directors, officers, shareholders, trustees, employees, consultants, independent contractors, representatives, agents, servants, successors and assigns and all persons acting by, through or under or in concert with any of them (collectively “Releasees”), from all claims, rights and liabilities up to and including the date of this Release arising from or relating to Executive’s employment with, or termination of employment from, the Company, and from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of actions, suits, rights, demands, costs, losses, debts and expenses of any nature whatsoever, known or unknown, suspected or unsuspected and any claims of wrongful discharge, breach of contract, implied contract, promissory estoppel, defamation, slander, libel, tortious conduct, employment discrimination or claims under any federal, state or local employment statute, law, order or ordinance, including any rights or claims arising under Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. § 621 et seq. (“ADEA”), or any other federal, state or municipal ordinance relating to discrimination in employment. Nothing contained herein shall restrict the parties’ rights to enforce the terms of this Release. (b) To the maximum extent permitted by law, Executive agrees that she has not filed, nor will she ever file, a lawsuit asserting any claims which are released by this Release, or to accept any benefit from any lawsuit which might be filed by another person or government entity based in whole or in part on any event, act, or omission which is the subject of this Release. (c) This Release specifically excludes (i) Executive’s rights and the Company’s obligations to provide severance payments under Section 1 of the Employment Agreement; (ii) Executive’s right to indemnification under Section 9A of the Employment Agreement or otherwise under the Company’s organizational documents, applicable insurance policies or applicable law; (iii) Executive’s right to assert claims for workers’ compensation or unemployment benefits; (v) Executive’s vested rights under any retirement or welfare benefit plan of the Company or under

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any equity or equity-linked award that remains outstanding following the Termination Date (as defined in the Employment Agreement); or (vi) any other rights that may not be waived by an employee under applicable law. Nothing contained in this Release shall release Executive from her obligations, including any obligations to abide by restrictive covenants, under the Employment Agreement that continue or are to be performed following termination of employment. (d) The parties agree that this Release shall not affect the rights and responsibilities of the US Equal Employment Opportunity Commission (hereinafter “EEOC”) to enforce ADEA and other laws. In addition, the parties agree that this Release shall not be used to justify interfering with Executive’s protected right to file a charge or participate in an investigation or proceeding conducted by the EEOC. The parties further agree that Executive knowingly and voluntarily waives all rights or claims (that arose prior to Executive’s execution of this Release) the Releasers may have against the Releasees, or any of them, to receive any benefit or remedial relief (including, but not limited to, reinstatement, back pay, front pay, damages, attorneys’ fees, experts’ fees) as a consequence of any investigation or proceeding conducted by the EEOC. 2. Executive acknowledges that the Company has specifically advised her of the right to seek the advice of an attorney concerning the terms and conditions of this Release. Executive further acknowledges that she has been furnished with a copy of this Release, and she has been afforded forty-five (45) days in which to consider the terms and conditions set forth above prior to this Release. By executing this Release, Executive affirmatively states that she has had sufficient and reasonable time to review this Release and to consult with an attorney concerning her legal rights prior to the final execution of this Release. Executive further agrees that she has carefully read this Release and fully understands its terms. Executive understands that she may revoke this Release within seven (7) days after signing this Release. Revocation of this Release must be made in writing and must be received by the General Counsel at the Company, 8750 North Central Expressway, 14th Floor, Dallas, TX 75231 within the time period set forth above. 3. This Release will be governed by and construed in accordance with the laws of the state of Texas, without giving effect to any choice of law or conflicting provision or rule (whether of the state of Texas or any other jurisdiction) that would cause the laws of any jurisdiction other than the state of Texas to be applied. In furtherance of the foregoing, the internal law of the state of Texas will control the interpretation and construction of this agreement, even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply. The provisions of this Release are severable, and if any part or portion of it is found to be unenforceable, the other paragraphs shall remain fully valid and enforceable. 4. This Release shall become effective and enforceable on the eighth day following its execution by Executive, provided she does not exercise her right of revocation as described above. If Executive fails to sign and deliver this Release or revokes her signature, this Release will be without force or effect, and Executive shall not be entitled to the payments and benefits of Section 1(d), with the exception of Section 1(d) (ii), of the Employment Agreement.

Amanda W. Ginsberg Date:

RLP 148 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT T

RLP 149 EX-10.1 2 mtch8-k20180814ex101.htm EMPLOYMENT AGREEMENT BETWEEN GARY SWIDLER AND MATCH GROUP, INC. Exhibit 10.1

Execution Copy

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (“Agreement”) is entered by and between Gary Swidler (“Executive”) and Match Group, Inc., a Delaware corporation (the “Company”) and is effective as of August 8, 2018 (the “Effective Date”).

WHEREAS, the Company desires to establish its right to the services of Executive, in the capacity described below, on the terms and conditions hereinafter set forth, and Executive is willing to accept such employment on such terms and conditions.

NOW, THEREFORE, in consideration of the mutual agreements hereinafter set forth, Executive and the Company have agreed and do hereby agree as follows:

1A. EMPLOYMENT. During the Term (as defined below), the Company shall employ Executive, and Executive shall be employed, as the Chief Financial Officer of the Company. During Executive’s employment with the Company, Executive shall do and perform all services and acts necessary or advisable to fulfill the duties and responsibilities as are commensurate and consistent with Executive’s position and shall render such services on the terms set forth herein. During Executive’s employment with the Company, Executive shall report to the Chief Executive Officer of the Company (the “Reporting Officer”) and be based in New York City. Executive shall have such powers and duties with respect to the Company as may reasonably be assigned to Executive by the Reporting Officer, to the extent consistent with Executive’s position. Executive agrees to devote substantially all of Executive’s working time, attention and efforts to the Company and to perform the duties of Executive’s position in accordance with the Company’s written policies as in effect from time to time.

2A. TERM. This Agreement shall commence on the Effective Date and shall continue for a period of one (1) year. This Agreement shall automatically be renewed for successive one-year periods (ending on an anniversary of the Effective Date) unless one party hereto provides written notice to the other, at least ninety (90) days prior to the end of the then current one-year employment period, that it elects not to extend this Agreement, which notice shall be irrevocable (any such notice, a “Non-Renewal Notice”). The period beginning on the Effective Date and ending on the first anniversary hereof or, if the Agreement is renewed pursuant to the prior sentence, the last day of the last one-year renewal period, shall be referred to hereinafter as the “Term.” Notwithstanding anything to the contrary in this Agreement, Executive’s employment with the Company is “at will” and may be terminated at any time for any reason or no reason, with or without cause, by the Company or Executive. Executive’s rights to payments upon certain termination of employment is governed by Section 1 of the Standard Terms and Conditions attached hereto.

3A. COMPENSATION.

(a) BASE SALARY. During the period that Executive is employed with the Company hereunder, the Company shall pay Executive an annual base salary of $550,000 (the “Base Salary”), payable in equal biweekly installments (or, if different, in accordance with the Company’s payroll practice as in effect from time to time). The Base Salary may be increased from time to time

RLP 150 in the discretion of the Company. For all purposes under this Agreement, the term “Base Salary” shall refer to the Base Salary as in effect from time to time.

(b) DISCRETIONARY BONUS. During the period that Executive is employed with the Company hereunder, Executive shall be eligible to receive discretionary annual bonuses (payable at the same time as bonuses of other executives at the Company, but in no event later than March 15 of the year following the year with respect to which such bonuses are payable), as determined by the Compensation Committee of the Board, in consultation with the Reporting Officer.

(c) BENEFITS. From the Effective Date through the date of termination of Executive’s employment with the Company for any reason, Executive shall be entitled to participate in any welfare, health and life insurance, pension benefit and incentive programs as may be adopted from time to time by the Company on the same basis as that provided to similarly situated senior executives of the Company. Without limiting the generality of the foregoing, Executive shall be entitled to the following benefits:

(i) Reimbursement for Business Expenses. During the period that Executive is employed with the Company hereunder, the Company shall reimburse Executive for all reasonable and necessary expenses incurred by Executive in performing Executive’s duties for the Company, on the same basis as similarly situated senior executives and in accordance with the Company’s policies as in effect from time to time.

(ii) Vacation. During the period that Executive is employed with the Company hereunder, Executive shall be entitled to paid vacation each year, in accordance with the plans, policies, programs and practices of the Company applicable to similarly situated senior executives of the Company generally.

4A. NOTICES. All notices and other communications under this Agreement shall be in writing and shall be given by first-class mail, certified or registered with return receipt requested, or by hand delivery, overnight delivery by a nationally recognized carrier, facsimile transmission or PDF, in each case to the applicable address set forth below (or, if by facsimile transmission or PDF, to a facsimile transmission number or email account provided by the other party), and any such notice is deemed effectively given when received by the recipient (or if receipt is refused by the recipient, when so refused):

If to the Company: Match Group, Inc.

8750 North Central Expressway 14th Floor Dallas, TX 75231 Attention: General Counsel

If to Executive: At the most recent address for Executive on record at the Company.

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

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5A. GOVERNING LAW; JURISDICTION. This Agreement and the legal relations thus created between the parties hereto (including, without limitation, any dispute arising out of or related to this Agreement) shall be governed by and construed under and in accordance with the internal laws of the State of New York without reference to its principles of conflicts of laws. Any dispute between the parties hereto arising out of or related to this Agreement will be heard exclusively and determined before an appropriate federal court located in the State of New York, or an appropriate New York state court, and each party hereto submits itself and its property to the exclusive jurisdiction of the foregoing courts with respect to such disputes. The parties hereto acknowledge and agree that this Agreement was executed and delivered in the State of New York and that, in the course of performing duties hereunder for the Company, Executive shall have multiple contacts with the business and operations of the Company, as well as other businesses and operations in the State of New York, and that for those and other reasons this Agreement and the undertakings of the parties hereunder bear a reasonable relation to the State of New York. Each party hereto (i) agrees that service of process may be made by mailing a copy of any relevant document to the address of the party set forth above, (ii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the courts referred to above on the grounds of inconvenient forum or otherwise as regards any dispute between the parties hereto arising out of or related to this Agreement, (iii) waives to the fullest extent permitted by law any objection which it may now or hereafter have to the laying of venue in the courts referred to above as regards any dispute between the parties hereto arising out of or related to this Agreement and (iv) agrees that a judgment or order of any court referred to above in connection with any dispute between the parties hereto arising out of or related to this Agreement is conclusive and binding on it and may be enforced against it in the courts of any other jurisdiction.

6A. COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

7A. STANDARD TERMS AND CONDITIONS. Executive expressly understands and acknowledges that the Standard Terms and Conditions attached hereto are incorporated herein by reference, deemed a part of this Agreement and are binding and enforceable provisions of this Agreement. References to “this Agreement” or the use of the term “hereof” shall refer to this Agreement and the Standard Terms and Conditions attached hereto, taken as a whole.

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IN WITNESS WHEREOF, the Company has caused this Agreement to be executed and delivered by its duly authorized officer and Executive has executed and delivered this Agreement on August 8, 2018.

MATCH GROUP, INC.

/s/ Jared Sine By: Jared Sine Title: General Counsel & Secretary

/s/ Gary Swidler GARY SWIDLER

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STANDARD TERMS AND CONDITIONS

1. TERMINATION OF EXECUTIVE’S EMPLOYMENT.

(a) DEATH. In the event Executive’s employment hereunder is terminated by reason of Executive’s death, the Company shall pay Executive’s designated beneficiary or beneficiaries, within thirty (30) days of Executive’s death (or such earlier date as may be required by law) in a lump sum in cash, (i) Executive’s Base Salary through the end of the month in which his death occurs and (ii) any Accrued Obligations (as defined in Section 1(f) below). In addition, any incentive equity or equity-linked awards in or relating to equity of the Company or its subsidiaries (e.g., restricted stock, restricted stock units, stock options, phantom stock or similar instruments) that are outstanding and unvested as of the date of such termination of employment and that would have vested at any time through the first anniversary of the date of the termination of Executive’s employment with the Company (the “Termination Date”) shall vest upon Executive’s death and shall be settled in accordance with their terms. Notwithstanding the foregoing, (A) any amounts that would vest under this provision but for the fact that outstanding performance conditions have not been satisfied shall vest only if, and at such point as, such performance conditions are satisfied, and (B) the terms of any future awards may be varied in the governing documents of such award.

(b) DISABILITY. If, as a result of Executive’s incapacity due to physical or mental illness (“Disability”), Executive shall be unable to substantially perform Executive’s duties with the Company for a period of four (4) consecutive months and, within thirty (30) days after written notice of a pending termination for Disability is provided to Executive by the Company (in accordance with Section 4A hereof), Executive shall not have been able to substantially perform Executive’s duties, Executive’s employment under this Agreement may be terminated by the Company for Disability. During any period prior to such termination during which Executive is absent from the full- time performance of Executive’s duties with the Company due to Disability, the Company shall continue to pay Executive’s Base Salary at the rate in effect at the commencement of such period of Disability, offset by any amounts payable to Executive under any disability insurance plan or policy provided by the Company. Upon termination of Executive’s employment due to Disability, the Company shall pay Executive within thirty (30) days of such termination (or such earlier date as may be required by law) in a lump sum in cash (i) Executive’s Base Salary through the end of the month in which termination occurs, offset by any amounts payable to Executive under any disability insurance plan or policy provided by the Company; and (ii) any Accrued Obligations.

(c) TERMINATION FOR CAUSE; TERMINATION BY EXECUTIVE WITHOUT GOOD REASON. Upon the termination of Executive’s employment by the Company for Cause (as defined below) or by Executive without Good Reason (as defined below), the Company shall have no further obligation hereunder, except for the payment of any Accrued Obligations. As used herein, “Cause” shall mean: (i) the plea of guilty or nolo contendere to, or conviction for, a felony offense by Executive; provided, however, that (A) after indictment, the Company may suspend Executive from the rendition of services, but without limiting or modifying in any other way the Company’s obligations under this Agreement and (B) Executive’s employment shall be immediately reinstated if the indictment is dismissed or otherwise dropped and there is not otherwise

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grounds to terminate Executive’s employment for Cause; (ii) a material breach by Executive of a fiduciary duty owed to the Company; (iii) a material breach by Executive of any of the covenants made by Executive in Section 2 hereof; (iv) Executive’s continued willful failure to perform or gross neglect of the material duties required by this Agreement (other than any such failure resulting from incapacity due to physical or mental illness); or (v) a knowing and material violation by Executive of any material Company policy pertaining to ethics, wrongdoing or conflicts of interest, which policy had been provided to Executive in writing or otherwise made generally available prior to such violation; provided, that in the case of conduct described in clauses (ii), (iii), (iv) or (v) above which is capable of being cured, Executive shall have a period of ten (10) days after Executive is provided with written notice (specifying in reasonable detail the acts or omissions believed to constitute Cause and the steps necessary to remedy such condition, if curable) in which to cure, which such notice specifically identifies the breach, the nature of the willful or gross neglect or the violation that the Company believes constitutes Cause.

(d) TERMINATION BY THE COMPANY OTHER THAN FOR DEATH, DISABILITY OR CAUSE OR RESIGNATION BY EXECUTIVE FOR GOOD REASON. If Executive’s employment hereunder is terminated prior to the expiration of the Term by the Company for any reason other than Executive’s death, Disability or Cause, or if Executive terminates Executive’s employment hereunder prior to the expiration of the Term for Good Reason, then:

(i) the Company shall pay to Executive an amount equal to the Base Salary that would have been paid to Executive for the twelve (12) months from the Termination Date (the “Severance Period”) if Executive had remained employed during such period in the time and manner set forth below;

(ii) the Company shall pay Executive within thirty (30) days after the Termination Date (or such earlier date as may be required by applicable law) in a lump sum in cash any Accrued Obligations; and

(iii) any incentive equity or equity-linked awards in or relating to equity of the Company or its subsidiaries (e.g., restricted stock, restricted stock units, stock options, phantom stock or similar instruments), that are outstanding and unvested at the time of such termination of employment and that would have vested at any time through the first anniversary of the Termination Date, shall vest immediately upon such termination and shall be settled in accordance with their terms. Notwithstanding the foregoing, (1) any amounts that would vest under this provision but for the fact that outstanding performance conditions have not been satisfied shall vest only if, and at such point as, such performance conditions are satisfied, and (2) the terms of any future awards may be varied in the governing documents of such award; and

(iv) the Company shall, during the Severance Period, provide Executive with continued coverage under the Company’s group health plan, at the Company’s cost, or with an additional monthly payment in an amount necessary to cover the full premiums for continued healthcare coverage under the Company’s plans through COBRA, at the same coverage level as in effect for Executive as of the Termination Date. The payment under this clause (iv) shall be grossed up for applicable taxes. Notwithstanding the foregoing, in the event Executive obtains alternative employment during the Severance Period offering employer-paid healthcare coverage that is no

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less favorable than the benefits provided under the Company’s group health plan, Executive shall enroll in and obtain coverage under such new employer’s plan at the earliest opportunity and the Company’s obligations under this clause (iv) shall cease as of the effective date of such alternate coverage.

The payments and severance benefits described in Section 1(d), with the exception of Section 1(d)(ii), shall be subject to Executive’s compliance with the restrictive covenants set forth in Section 2 hereof and Executive’s execution within twenty-one (21) days following the Termination Date (or such longer period as may be required by applicable law) and non-revocation (during the applicable revocation period) of a general release of the Company and its affiliates, in substantially the form annexed hereto as Exhibit A (the “Release”). Any severance benefits due to Executive pursuant to Section 1(d)(i) shall be paid in equal biweekly installments (or, if different, in accordance with the Company’s payroll practice as in effect immediately prior to Executive’s Termination Date) over the course of the twelve (12) month period beginning on the first business day of the second month following the month in which Executive’s Separation from Service (as such term is defined below) took place (plus interest on the amount delayed from the Termination Date to the date payment begins at the then applicable borrowing rate of the Company as of the commencement of such delay). Any benefits due to Executive pursuant to Section 1(d)(iv) shall be paid through the Company’s payroll on the first regularly scheduled pay date of each month.

For purposes of this Agreement, “Good Reason” shall mean actions taken by the Company resulting in a material negative change in the employment relationship. For these purposes, a “material negative change in the employment relationship” shall include, without limitation, the occurrence of any of the following without Executive’s prior written consent: (A) requiring Executive to report to any person or persons other than the Reporting Officer, (B) a material diminution in title or the assignment of duties and responsibilities to, or limitation on duties of, Executive inconsistent with Executive’s position as Chief Financial Officer of the Company, including if the Executive is no longer Chief Financial Officer of a publicly-traded company, excluding for this purpose any such instance that is an isolated and inadvertent action not taken in bad faith or that is authorized pursuant to this Agreement, (C) any material reduction in Executive’s Base Salary, (D) requiring Executive’s principal place of business to be in a location more than fifty (50) miles outside of New York City, New York or (E) any material breach by the Company of this Agreement or any other written agreement between Executive and the Company or any Company affiliate; provided that in no event shall Executive’s resignation be for “Good Reason” unless (x) an event or circumstance constituting “Good Reason” shall have occurred and Executive provides the Company with written notice thereof within thirty (30) days after Executive has knowledge of the occurrence or existence of such event or circumstance, which notice specifically identifies the event or circumstance that Executive believes constitutes Good Reason, (y) the Company fails to correct the circumstance or event so identified within thirty (30) days after the receipt of such notice, and (z) Executive resigns within ninety (90) days after the date of delivery of the notice referred to in clause (x) above.

(e) OFFSET. If Executive obtains other employment during the period of time in which the Company is required to make payments to Executive pursuant to Section 1(d)(i) above, the amount of any installment payments remaining to be made to Executive thereunder at the time such other employment commences shall be reduced, on a dollar for dollar basis, in the order of

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the scheduled dates of payment of such remaining installments (taking into account any delay in any installment payment required under Section 9A of the Agreement) by the amount of compensation received by Executive from such other employment on or prior to the scheduled date of payment of each such remaining installment. For purposes of this Section 1(e), Executive shall have an obligation to inform the Company regarding Executive’s employment status following termination and during the period of time in which the Company is making payments to Executive under Section 1(d)(i) above.

(f) ACCRUED OBLIGATIONS. As used in this Agreement, “Accrued Obligations” shall mean the sum of (i) any portion of Executive’s accrued but unpaid Base Salary through the date of death or termination of employment for any reason, as the case may be; (ii) any unreimbursed business expenses; (iii) the value of any accrued and unused vacation days; and (iv) any compensation previously earned but deferred by Executive (together with any interest or earnings thereon) that has not yet been paid and that is not otherwise scheduled to be paid at a later date pursuant to any deferred compensation arrangement of the Company to which Executive is a party, if any (provided, that any election made by Executive pursuant to any deferred compensation arrangement that is subject to Section 409A regarding the schedule for payment of such deferred compensation shall prevail over this Section 1(f) to the extent inconsistent herewith).

(g) NON-RENEWAL. If the Company delivers a Non-Renewal Notice to Executive then, provided Executive’s employment hereunder continues through the expiration date then in effect, effective as of such expiration date, Executive’s employment with the Company automatically will terminate and the Company and Executive shall have the same rights and obligations hereunder as they would if the Company had terminated Executive’s employment hereunder at the end of the Term for any reason other than Executive’s death, Disability or Cause.

(h) RESIGNATION FROM ALL POSITIONS. Notwithstanding any other provision of this Agreement, upon the termination of Executive’s employment for any reason, unless otherwise requested by the Board, Executive shall immediately resign as of the Termination Date from all positions that Executive holds with the Company and any of its subsidiaries, including, without limitation, all boards of directors of any subsidiary of the Company or any parent company of the Company. Executive hereby agrees to execute any and all documentation to effectuate such resignations upon request by the Company.

(i) POST-TERMINATION EXERCISE PERIOD FOR STOCK OPTIONS. In the event of Executive’s termination of employment for any reason other than a termination of employment for Cause, any vested options to purchase Company stock, subsidiary stock or parent stock (including options vesting as a result of an acceleration of vesting upon a termination of employment without Cause or for Good Reason), shall remain exercisable through the date that is six (6) months following the Termination Date or, if earlier, through the scheduled expiration date of such options.

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2. CONFIDENTIAL INFORMATION; NON-COMPETITION; NON-SOLICITATION; AND PROPRIETARY RIGHTS.

(a) CONFIDENTIALITY. Executive acknowledges that, while employed by the Company, Executive has occupied and will occupy a position of trust and confidence. The Company has provided and shall provide Executive with “Confidential Information” as referred to below. Executive shall not, except as Executive in good faith deems appropriate to perform Executive’s duties hereunder or as required by applicable law or regulation, governmental investigation, subpoena, or in connection with enforcing the terms of this Agreement (or any agreement referenced herein) without limitation in time, communicate, divulge, disseminate, disclose to others or otherwise use, whether directly or indirectly, any Confidential Information regarding the Company or any of its subsidiaries or affiliates. Notwithstanding the foregoing or anything herein to the contrary, nothing contained herein shall prohibit Executive from (i) filing a charge with, reporting possible violations of federal law or regulation to, participating in any investigation by, or cooperating with any governmental agency or entity or making other disclosures that are protected under the whistleblower provisions of applicable law or regulation and/or (ii) communicating directly with, cooperating with, or providing information (including trade secrets) in confidence to, any federal, state or local government regulator (including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice) for the purpose of reporting or investigating a suspected violation of law, or from providing such information to Executive’s attorney or in a sealed complaint or other document filed in a lawsuit or other governmental proceeding. Pursuant to 18 USC Section 1833(b), Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made: (x) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (y) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

“Confidential Information” shall mean information about the Company or any of its subsidiaries or affiliates, and their respective businesses, employees, consultants, contractors, clients and customers that is not disclosed by the Company or any of its subsidiaries or affiliates for financial reporting purposes or otherwise generally made available to the public (other than by Executive’s breach of the terms hereof or the terms of any previous confidentiality obligation by Executive to the Company) and that was learned or developed by Executive in the course of employment by the Company or any of its subsidiaries or affiliates, including (without limitation) any proprietary knowledge, trade secrets, data, formulae, information and client and customer lists and all papers, resumes, and records (including computer records) of the documents containing such Confidential Information. Executive acknowledges that such Confidential Information is specialized, unique in nature and of great value to the Company and its subsidiaries or affiliates, and that such information gives the Company and its subsidiaries or affiliates a competitive advantage. Executive agrees to deliver, return to the Company (or destroy, to the extent physically returning the following is not possible), at the Company’s written request at any time or upon termination or expiration of Executive’s employment or as soon thereafter as possible, whether kept in tangible form or intangible form in the cloud or otherwise, all documents, computer tapes and disks, records, lists, data, drawings, prints, notes and written and digital information (and all copies thereof) furnished by the

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Company and its subsidiaries or affiliates or prepared by Executive in the course of Executive’s employment by the Company and its subsidiaries or affiliates; provided, that, Executive may retain Executive’s personal effects, copies of documentation reasonably necessary for Executive to prepare Executive’s tax returns and documents relating to Executive’s compensation. As used in this Agreement, “subsidiaries” and “affiliates” shall mean any company controlled by, controlling or under common control with the Company.

(b) NON-COMPETITION.

(i) In consideration of this Agreement, and for other good and valuable consideration provided hereunder, the receipt and sufficiency of which are hereby acknowledged by Executive, Executive hereby agrees and covenants that, during Executive’s employment with the Company and for a period of twelve (12) months thereafter, Executive shall not, without the prior written consent of the Company, directly or indirectly, engage in or become associated with a Competitive Activity.

(ii) For purposes of this Section 2(b), a “Competitive Activity” means engaging in the business of providing online or app-based dating services or in such other business involving the provision of the same or similar products or services that any business of the Company is engaged in providing as of the Termination Date (the “Company Products or Services”), provided such business or endeavor is in the United States, or in any foreign jurisdiction in which the Company provides, or has provided during the Term, the relevant Company Group Products or Services.

(iii) For purposes of this Section 2(b), Executive shall be considered to have become “associated with a Competitive Activity” if Executive becomes directly or indirectly involved as an owner, principal, employee, officer, director, independent contractor, representative, stockholder, financial backer, agent, partner, member, advisor, lender, consultant or in any other individual or representative capacity with any individual, partnership, corporation or other organization that is engaged in a Competitive Activity.

(iv) Notwithstanding anything else in this Section 2(b), (A) Executive may become employed by or provide services to a partnership, corporation or other organization that is engaged in a Competitive Activity so long as Executive has no direct or indirect responsibilities or involvement in the Competitive Activity, and (B) Executive may own, for investment purposes only, up to five percent (5%) of the outstanding capital stock of any publicly-traded corporation engaged in a Competitive Activity if the stock of such corporation is either listed on a national stock exchange or on the NASDAQ National Market System and if Executive is not otherwise affiliated with such corporation.

(c) NON-SOLICITATION OF EMPLOYEES. Executive recognizes that Executive possesses and will possess Confidential Information about other employees, consultants and contractors of the Company and its subsidiaries relating to their education, experience, skills, abilities, compensation and benefits, and inter-personal relationships with suppliers to and customers of the Company and its subsidiaries. Executive recognizes that the information Executive possesses and will possess about these other employees, consultants and contractors is not generally known, is of substantial value to the Company and its subsidiaries in developing their respective businesses

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and in securing and retaining customers, and has been and will be acquired by Executive because of Executive’s business position with the Company. Executive agrees that, during Executive’s employment with the Company, and for a period of twelve (12) months thereafter, Executive will not, directly or indirectly, solicit, recruit or hire any employee of the Company or any of its subsidiaries (or any individual who was an employee of the Company or any of its subsidiaries at any time during the six (6) months prior to such act of hiring, solicitation or recruitment) for the purpose of being employed by Executive or by any business, individual, partnership, firm, corporation or other entity on whose behalf Executive is acting as an agent, representative or employee and that Executive will not convey any such Confidential Information or trade secrets about other employees of the Company or any of its subsidiaries to any other person except within the scope of Executive’s duties hereunder. Notwithstanding the foregoing, Executive is not precluded from soliciting or hiring any individual who (i) responds to any public advertisement or general solicitation, or (ii) has been terminated by the Company prior to the solicitation.

(d) NON-SOLICITATION OF BUSINESS PARTNERS. During Executive’s employment with the Company, and for a period of twelve (12) months thereafter, Executive shall not, without the prior written consent of the Company, persuade or encourage any business partners or business affiliates of the Company or its subsidiaries to cease doing business with the Company or any of its subsidiaries or to engage in any business competitive with the Company or its subsidiaries.

(e) PROPRIETARY RIGHTS; ASSIGNMENT. All Employee Developments are and shall be made for hire by Executive for the Company or any of its subsidiaries or affiliates. “Employee Developments” means any discovery, invention, design, method, technique, improvement, enhancement, development, computer program, machine, algorithm or other work or authorship that (i) relates to the business or operations of the Company or any of its subsidiaries or affiliates, or (ii) results from or is suggested by any undertaking assigned to Executive or work performed by Executive for or on behalf of the Company or any of its subsidiaries or affiliates, whether created alone or with others, during or after working hours (including before the Effective Date). All Confidential Information and all Employee Developments shall remain the sole property of the Company or any of its subsidiaries or affiliates. Executive has not acquired and shall not acquire any proprietary interest in any Confidential Information or Employee Developments developed or acquired during the Term or during Executive’s employment with the Company before the Effective Date. To the extent Executive may, by operation of law or otherwise, acquire any right, title or interest in or to any Confidential Information or Employee Development, Executive hereby assigns to the Company all such proprietary rights. Executive shall, both during and after the Term, upon the Company’s request, promptly execute and deliver to the Company all such assignments, certificates and instruments, and shall promptly perform such other acts, as the Company may from time to time in its discretion deem necessary or desirable to evidence, establish, maintain, perfect, enforce or defend the Company’s rights in Confidential Information and Employee Developments.

(f) COMPLIANCE WITH POLICIES AND PROCEDURES. During the period that Executive is employed with the Company hereunder, Executive shall adhere to the policies and standards of professionalism set forth in the Company’s Policies and Procedures as they may exist from time to time.

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(g) SURVIVAL OF PROVISIONS. The obligations contained in this Section 2 shall, to the extent provided in this Section 2, survive the termination or expiration of Executive’s employment with the Company and, as applicable, shall be fully enforceable thereafter in accordance with the terms of this Agreement. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 2 is excessive in duration or scope or is unreasonable or unenforceable under the laws of that state, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the law of that state.

3. TERMINATION OF PRIOR AGREEMENTS/EXISTING CLAIMS/AUTHORITY. Except for any agreements relating to currently outstanding equity or equity-linked awards as of the date of this Agreement (which remain outstanding, but subject to the terms of this Agreement), this Agreement constitutes the entire agreement between the parties and, as of the Effective Date, terminates and supersedes any and all prior agreements and understandings (whether written or oral) between the parties with respect to the subject matter of this Agreement. Executive acknowledges and agrees that neither the Company nor anyone acting on its behalf has made, and is not making, and in executing this Agreement, Executive has not relied upon, any representations, promises or inducements except to the extent the same is expressly set forth in this Agreement. The Company represents that it has due authority to enter into this Agreement and has taken all necessary corporate action to enter into this Agreement and provide the compensation set forth herein.

4. ASSIGNMENT; SUCCESSORS. This Agreement is personal in its nature and none of the parties hereto shall, without the consent of the others, assign or transfer this Agreement or any rights or obligations hereunder, other than Executive to Executive’s heirs and beneficiaries upon Executive’s death to the extent provided in this Agreement; provided that in the event of the merger, consolidation, transfer, or sale of all or substantially all of the assets of the Company with or to any other individual or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder, and in the event of any such assignment or transaction, all references herein to the “Company” shall refer to the Company’s assignee or successor hereunder.

5. WITHHOLDING. The Company shall make such deductions and withhold such amounts from each payment and benefit made or provided to Executive hereunder, as may be required from time to time by applicable law, governmental regulation or order.

6. WAIVER; MODIFICATION. Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto.

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7. SECTION 409A OF THE INTERNAL REVENUE CODE.

(a) This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). It is intended that any amounts payable under this Agreement and the Company’s and Executive’s exercise of authority or discretion hereunder shall comply with and avoid the imputation of any tax, penalty or interest under Section 409A of the Code. This Agreement shall be construed and interpreted consistent with that intent.

(b) For purposes of this Agreement, a “Separation from Service” occurs when Executive dies, retires or otherwise has a termination of employment with the Company that constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h)(1), without regard to the optional alternative definitions available thereunder.

(c) If Executive is a “specified employee” within the meaning of Treasury Regulation Section 1.409A- 1(i) as of the date of Executive’s Separation from Service, Executive shall not be entitled to any payment or benefit pursuant to clause (i) of Section 1(d) until the earlier of (i) the date which is six (6) months after Executive’s Separation from Service for any reason other than death, or (ii) the date of Executive’s death. The provisions of this paragraph shall only apply if, and to the extent, required to avoid the imputation of any tax, penalty or interest pursuant to Section 409A. Any amounts otherwise payable to Executive upon or in the six (6) month period following Executive’s Separation from Service that are not so paid by reason of this Section 6(b) shall be paid (without interest) as soon as practicable after the date that is six (6) months after Executive’s Separation from Service (or, if earlier, as soon as practicable after the date of Executive’s death).

(d) To the extent that any reimbursement pursuant to this Agreement is taxable to Executive, Executive shall provide the Company with documentation of the related expenses promptly so as to facilitate the timing of the reimbursement payment contemplated by this paragraph, and any reimbursement payment due to Executive pursuant to such provision shall be paid to Executive on or before the last day of Executive’s taxable year following the taxable year in which the related expense was incurred. Such reimbursement obligations pursuant to this Agreement are not subject to liquidation or exchange for another benefit and the amount of such benefits that Executive receives in one taxable year shall not affect the amount of such benefits that Executive receives in any other taxable year.

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

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8. REDUCTION OF CERTAIN PAYMENTS. Notwithstanding anything to the contrary in this Agreement, in any other agreement between Executive and the Company or any plan maintained by the Company, if there is a Section 280G Change in Control (as defined in Section 8(e)(i) below), the following rules shall apply:

(a) Except as otherwise provided in Section 8(c) below, if it is determined in accordance with Section 8(d) below that any portion of the Contingent Compensation Payments (as defined in 8(e)(ii) below) that otherwise would be paid or provided to Executive or for her benefit in connection with the 280G Change in Control would be subject to the excise tax imposed under Section 4999 of the Code (“Excise Tax”), then such Contingent Compensation Payments shall be reduced by the smallest total amount necessary in order for the aggregate present value of all such Contingent Compensation Payments after such reduction, as determined in accordance with the applicable provisions of Section 280G of the Code and the regulations issued thereunder, not to exceed the Excise Tax Threshold Amount (as defined in Section 8(e)(iii) below).

(b) If the Auditor (as defined in Section 8(d) below) determines that any reduction is so required, the Payments to be reduced, and the reduction to be made to such Payments, shall be determined by the Auditor in its sole discretion in a manner which will result in the least economic cost to Executive, and if the reduction with respect to two or more Payments would result in equivalent economic cost to Executive, such Payments shall be reduced in the inverse chronological order of the dates on which such Payments were otherwise scheduled to be made to Executive, until the required reduction has been fully achieved.

(c) Notwithstanding the foregoing, no reduction in any of the Executive’s Contingent Compensation Payments shall be made pursuant to Section 8(a) above if it is determined in accordance with Section 8(d) below that the After Tax Amount of the Contingent Compensation Payments payable to Executive without such reduction would exceed the After Tax Amount of the reduced Contingent Compensation Payments payable to her in accordance with Section 8(a) above. For purposes of the foregoing, (x) the “After Tax Amount” of the Contingent Compensation Payments, as computed with, and as computed without, the reduction provided for under Section 8(a) above, shall mean the amount of the Contingent Compensation Payments, as so computed, that Executive would retain after payment of all taxes (including without limitation any federal, state or local income taxes, the Excise Tax or any other excise taxes, any medicare or other employment taxes, and any other taxes) imposed on such Contingent Compensation Payments in the year or years in which payable; and (y) the amount of such taxes shall be computed at the rates in effect under the applicable tax laws in the year in which the 280G Change in Control occurs, or if then ascertainable, the rates in effect in any later year in which any Contingent Compensation Payment is expected to be paid following the 280G Change in Control, and in the case of any income taxes, by using the maximum combined federal, state and (if applicable) local income tax rates then in effect under such laws.

(d) A determination as to whether any Excise Tax is payable with respect to Executive’s Contingent Compensation Payments and if so, as to the amount thereof, and a determination as to whether any reduction in Executive’s Contingent Compensation Payments is required pursuant to the provisions of Sections 8(a) and 8(c) above, and if so, as to the amount of

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the reduction so required, shall be made by no later than 15 days prior to the closing of the transaction or the occurrence of the event that constitutes the 280G Change in Control. Such determinations, and the assumptions to be utilized in arriving at such determinations, shall be made by an independent auditor (the “Auditor”) jointly selected by Executive and the Company, all of whose fees and expenses shall be borne and directly paid solely by the Company. The Auditor shall be a nationally recognized public accounting firm which has not, during the two years preceding the date of its selection, acted in any way on behalf of the Company or any of its affiliates. If Executive and the Company cannot agree on the firm to serve as the Auditor, then Executive and the Company shall each select one accounting firm and those two firms shall jointly select the accounting firm to serve as the Auditor. The Auditor shall provide a written report of its determinations, including detailed supporting calculations, both to Executive and to the Company. The determinations made by the Auditor pursuant to this Section 8(d) shall be binding upon Executive and the Company.

(e) For purposes of the foregoing, the following terms shall have the following respective meanings:

(i) “280G Change in Control” shall mean a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the assets of the Company, as determined in accordance with section 280G(b)(2) of the Code and the regulations issued thereunder.

(ii) “Contingent Compensation Payment” shall mean any payment or benefit in the nature of compensation that is to be paid or provided to Executive or for her benefit in connection with a 280G Change in Control (whether under this Agreement or otherwise, including by the entity, or by any affiliate of the entity, whose acquisition of the stock of the Company or its assets constitutes the Change in Control) if Executive is a “disqualified individual” (as defined in Section 280G(c) of the Code) at the time of the 280G Change in Control, to the extent that such payment or benefit is “contingent” on the 280G Change in Control within the meaning of Section 280G(b)(2)(A) (i) of the Code and the regulations issued thereunder.

(iii) “Excise Tax Threshold Amount” shall mean an amount equal to (x) three times Executive’s “base amount” within the meaning of Section 280G(b)(3) of the Code and the regulations issued thereunder, less (y) $1,000.

9. HEADING REFERENCES. Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose. References to “this Agreement” or the use of the term “hereof” shall refer to these Standard Terms and Conditions and the Employment Agreement attached hereto, taken as a whole.

10. REMEDIES FOR BREACH.

(a) Executive expressly agrees and understands that Executive will notify the Company in writing of any alleged breach of this Agreement by the Company, and the Company will have thirty (30) days from receipt of Executive’s notice to cure any such breach. Executive expressly agrees and understands that in the event of any termination of Executive’s employment by the Company during the Term, the Company’s contractual obligations to Executive shall be

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fulfilled through compliance with its obligations under Section 1 of the Standard Terms and Conditions.

(b) Executive expressly agrees and understands that the remedy at law for any breach by Executive of Section 2 of the Standard Terms and Conditions will be inadequate and that damages flowing from such breach are not usually susceptible to being measured in monetary terms. Accordingly, it is acknowledged that, upon Executive’s violation of any provision of such Section 2, the Company shall be entitled to obtain from any court of competent jurisdiction immediate injunctive relief and obtain a temporary order restraining any threatened or further breach as well as an equitable accounting of all profits or benefits arising out of such violation. Nothing in this Agreement shall be deemed to limit the Company’s remedies at law or in equity for any breach by Executive of any of the provisions of this Agreement, including Section 2, which may be pursued by or available to the Company.

11. SEVERABILITY. In the event that a court of competent jurisdiction determines that any portion of this Agreement is in violation of any law or public policy, only the portions of this Agreement that violate such law or public policy shall be stricken. All portions of this Agreement that do not violate any statute or public policy shall continue in full force and effect. Further, any court order striking any portion of this Agreement shall modify the stricken terms as narrowly as possible to give as much effect as possible to the intentions of the parties under this Agreement.

12. INDEMNIFICATION. The Company shall indemnify and hold Executive harmless for acts and omissions in Executive’s capacity as an officer, director or employee of the Company to the maximum extent permitted under applicable law; provided, however, that neither the Company nor any of its subsidiaries and affiliates shall indemnify Executive for any losses incurred by Executive as a result of acts described in Section 1(c) of the Standard Terms and Conditions of this Agreement.

[The Signature Page Follows]

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ACKNOWLEDGED AND AGREED:

Date: August 8, 2018

MATCH GROUP, INC.

/s/ Jared Sine By: Jared Sine Title: General Counsel & Secretary

/s/ Gary Swidler GARY SWIDLER

RLP 166

Exhibit A Form of Release

THIS RELEASE (the “Release”) is entered into between Gary Swidler (“Executive”) and Match Group, Inc., a Delaware corporation (the “Company”), for the benefit of the Company. The entering into and non- revocation of this Release is a condition to Executive’s right to receive certain payments and benefits under Sections 1(d)(i) and (iii) of the employment agreement entered into by and between Executive and the Company, dated as of August 8, 2018 (the “Employment Agreement”). Capitalized terms used and not defined herein shall have the meaning provided in the Employment Agreement.

Accordingly, Executive and the Company agree as follows. 1. In consideration for the payments and other benefits provided to Executive by the Employment Agreement, to which Executive is not otherwise entitled, and the sufficiency of which Executive acknowledges, Executive represents and agrees, as follows: (a) Executive, for Executive’s self and Executive’s heirs, administrators, representatives, executors, successors and assigns (collectively “Releasers”), hereby irrevocably and unconditionally releases, acquits and forever discharges and agrees not to sue the Company or any of its parents, subsidiaries, divisions, affiliates and related entities and their current and former directors, officers, shareholders, trustees, employees, consultants, independent contractors, representatives, agents, servants, successors and assigns and all persons acting by, through or under or in concert with any of them (collectively “Releasees”), from all claims, rights and liabilities up to and including the date of this Release arising from or relating to Executive’s employment with, or termination of employment from, the Company, and from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of actions, suits, rights, demands, costs, losses, debts and expenses of any nature whatsoever, known or unknown, suspected or unsuspected and any claims of wrongful discharge, breach of contract, implied contract, promissory estoppel, defamation, slander, libel, tortious conduct, employment discrimination or claims under any federal, state or local employment statute, law, order or ordinance, including any rights or claims arising under Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. § 621 et seq. (“ADEA”), or any other federal, state or municipal ordinance relating to discrimination in employment. Nothing contained herein shall restrict the parties’ rights to enforce the terms of this Release. (b) To the maximum extent permitted by law, Executive agrees that Executive has not filed, nor will Executive ever file, a lawsuit asserting any claims which are released by this Release, or to accept any benefit from any lawsuit which might be filed by another person or government entity based in whole or in part on any event, act, or omission which is the subject of this Release. (c) This Release specifically excludes (i) Executive’s rights and the Company’s obligations to provide severance payments under Section 1 of the Employment Agreement; (ii) Executive’s right to indemnification under Section 12 of the Standard Terms and Conditions attached to the Employment Agreement or otherwise under the Company’s organizational documents, applicable insurance policies or applicable law; (iii) Executive’s right to assert claims for workers’ compensation or unemployment benefits; (v) Executive’s vested rights under any retirement or welfare benefit plan of the Company or under any equity or equity-linked award that remains

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outstanding following the Termination Date (as defined in the Employment Agreement); or (vi) any other rights that may not be waived by an employee under applicable law. Nothing contained in this Release shall release Executive from Executive’s obligations, including any obligations to abide by restrictive covenants, under the Employment Agreement that continue or are to be performed following termination of employment. (d) The parties agree that this Release shall not affect the rights and responsibilities of the US Equal Employment Opportunity Commission (hereinafter “EEOC”) to enforce ADEA and other laws. In addition, the parties agree that this Release shall not be used to justify interfering with Executive’s protected right to file a charge or participate in an investigation or proceeding conducted by the EEOC. The parties further agree that Executive knowingly and voluntarily waives all rights or claims (that arose prior to Executive’s execution of this Release) the Releasers may have against the Releasees, or any of them, to receive any benefit or remedial relief (including, but not limited to, reinstatement, back pay, front pay, damages, attorneys’ fees, experts’ fees) as a consequence of any investigation or proceeding conducted by the EEOC. 2. Executive acknowledges that the Company has specifically advised Executive of the right to seek the advice of an attorney concerning the terms and conditions of this Release. Executive further acknowledges that Executive has been furnished with a copy of this Release, and Executive has been afforded forty-five (45) days in which to consider the terms and conditions set forth above prior to this Release. By executing this Release, Executive affirmatively states that Executive has had sufficient and reasonable time to review this Release and to consult with an attorney concerning Executive’s legal rights prior to the final execution of this Release. Executive further agrees that Executive has carefully read this Release and fully understands its terms. Executive understands that Executive may revoke this Release within seven (7) days after signing this Release. Revocation of this Release must be made in writing and must be received by the General Counsel at the Company, 8750 North Central Expressway, 14th Floor, Dallas, TX 75231 within the time period set forth above. 3. This Release will be governed by and construed in accordance with the laws of the state of New York, without giving effect to any choice of law or conflicting provision or rule (whether of the state of New York or any other jurisdiction) that would cause the laws of any jurisdiction other than the state of New York to be applied. In furtherance of the foregoing, the internal law of the state of New York will control the interpretation and construction of this agreement, even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply. The provisions of this Release are severable, and if any part or portion of it is found to be unenforceable, the other paragraphs shall remain fully valid and enforceable. 4. This Release shall become effective and enforceable on the eighth day following its execution by Executive, provided Executive does not exercise Executive’s right of revocation as described above. If Executive fails to sign and deliver this Release or revokes Executive’s signature, this Release will be without force or effect, and Executive shall not be entitled to the payments and benefits of Section 1(d), with the exception of Section 1(d)(i) of the Employment Agreement.

Gary Swidler Date:

RLP 168 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT U

RLP 169 As filed with the Securities and Exchange Commission on February 28, 2019

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2018

Commission File No. 001-37636

Match Group, Inc. (Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction 26-4278917 of incorporation or organization) (I.R.S. Employer Identification No.) 8750 North Central Expressway, Suite 1400, Dallas, Texas 75231 (Address of Registrant’s principal executive offices) (Zip Code) (214) 576-9352 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act:

Title of each class Name of exchange on which registered Common Stock, par value $0.001 The Nasdaq Stock Market LLC (Nasdaq Global Select Market) Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ý No o Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes o No ý Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ý No o Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the Registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ý Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer Accelerated filer o Non-accelerated filer o Smaller reporting company o Emerging growth company o ý If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No ý As of February 1, 2019 , the following shares of the Registrant’s Common Stock were outstanding:

Common Stock 68,529,512 Class B Common Stock 209,919,402 Class C Common Stock — Total 278,448,914 The aggregate market value of the voting common stock held by non-affiliates of the registrant as of June 30, 2018 was $1,953,756,561 . For the purpose of the foregoing calculation only, shares held by IAC/InterActiveCorp and all directors and executive officers of the registrant are assumed to be affiliates of the registrant. Documents Incorporated By Reference: Portions of the Registrant’s proxy statement for its 2019 Annual Meeting of Stockholders are incorporated by reference into Part III herein.

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Page Number PART I Item 1. Business 3 Item 1A. Risk Factors 9 Item 1B. Unresolved Staff Comments 28 Item 2. Properties 28 Item 3. Legal Proceedings 28 Item 4. Mine Safety Disclosure 29 PART II Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Item 6. Selected Financial Data 32 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 54 Item 8. Consolidated Financial Statements and Supplementary Data 55 Note 1—Organization 62 Note 2—Summary of Significant Accounting Policies 62 Note 3—Income Taxes 71 Note 4—Discontinued Operations 75 Note 5—Goodwill and Intangible Assets 75 Note 6—Financial Instruments 76 Note 7—Long-term Debt, net 79 Note 8—Shareholders’ Equity 81 Note 9—Accumulated Other Comprehensive Loss 83 Note 10—Earnings per Share 84 Note 11—Stock-based Compensation 85 Note 12—Geographic Information 90 Note 13—Commitments and Contingencies 91 Note 14—Supplemental Cash Flow Information 92 Note 15—Related Party Transactions 93 Note 16—Benefit Plans 95 Note 17—Consolidated Financial Statement Details 95 Note 18—Quarterly Results (Unaudited) 97 Note 19—Subsequent Event (Unaudited) 98 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 99 Item 9A. Controls and Procedures 99 Item 9B. Other Information 101 PART III Item 10. Directors, Executive Officers and Corporate Governance 102 Item 11. Executive Compensation 102 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 102 Item 13. Certain Relationships and Related Transactions, and Director Independence 102 Item 14. Principal Accounting Fees and Services 102 PART IV Item 15. Exhibits and Financial Statement Schedules 103

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PART I

Item 1. Business

Who we are Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. As used herein, “Match Group,” the “Company,” “we,” “our,” “us,” and similar terms refer to Match Group, Inc. and its subsidiaries, unless the context indicates otherwise. Consumers’ dating preferences vary significantly, influenced in part by demographics, geography, religion and sensibility. As a result, the market for dating products is fragmented, and no single product has been able to effectively serve the dating category as a whole. Given these wide-ranging consumer preferences, our strategy focuses on a brand portfolio approach, through which we attempt to offer dating products that collectively appeal to the broadest spectrum of consumers. We believe that this approach maximizes our ability to capture additional users. We work to apply a centralized discipline to learnings, by sharing best practices and technologies across our brands in order to increase growth, reduce costs and maximize profitability. Additionally, we centralize certain other administrative functions, such as legal, human resources, finance, tax, and others. This approach allows us to quickly introduce new products and features, optimize marketing strategies, and more effectively deploy talent across our organization.

Enabling dating in a digital world Prior to the proliferation of mobile devices and computers, human connections traditionally were limited by social circles, geography and time. Today, the adoption of mobile technology and the internet has significantly expanded the ways in which people can build relationships, create new interactions and develop romantic connections. Additionally, the ongoing adoption of technology into more aspects of daily life continues to further erode biases and stigmas that previously prevented individuals from using technology to help find and develop those connections. We believe that dating products serve as a natural extension of the traditional means of meeting people and provide a number of benefits for their users, including: • Expanded options : Dating products provide users access to a large number of like-minded people they otherwise would not have a chance to meet. • Efficiency : The search and matching features, as well as the profile information available on dating products, allow users to filter a large number of options in a short period of time, increasing the likelihood that users will make a connection with someone. • More comfort and control : Compared to the traditional ways that people meet, dating products provide an environment that reduces the awkwardness around the process of reaching out to new people. This leads to many people who would otherwise be passive participants in the dating process taking a more active role. • Convenience : The nature of the internet and the proliferation of mobile devices allow users to connect with new people at any time, regardless of where they are. Depending on a person’s circumstances at any given time, dating products can act as a supplement to, or substitute for, traditional means of meeting people. When selecting a dating product, we believe that users consider the following attributes: • Brand recognition : Brand is very important. Users generally associate strong dating brands with a higher likelihood of success and a higher level of security. Generally, successful dating brands depend on large,

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active communities of users, strong algorithmic filtering technology and awareness of successful usage among similar users. • Successful experiences : Demonstrated success of other users attracts new users through word-of-mouth recommendations. Successful experiences also drive repeat usage. • Community identification : Users typically look for dating products that offer a community or communities with which the user can associate. By selecting a dating product that is focused on a particular demographic, religion, geography or intent (for example, casual dating or more serious relationships), users can increase the likelihood that they will make a connection with someone with whom they identify. • Product features and user experience : Users tend to gravitate towards dating products that offer features and user experiences that resonate with them, such as question-based matching algorithms, location-based features, offline events or search capabilities. User experience is also driven by the type of user interface (for example, swiping versus scrolling), a particular mix of free and paid features, ease of use, privacy and security. Users expect every interaction with a dating product to be seamless and intuitive.

Our portfolio Dating is a highly personal endeavor and consumers have a wide variety of preferences that determine what type of dating product they choose. As a result, our strategy focuses on a portfolio approach of various brands in order to reach a broad range of users. Our brands are collectively available in over 40 languages all over the world. The following is a list of our key brands: Tinder. Tinder was launched in 2012 and has since risen to scale and popularity faster than any other product in the online dating category with limited marketing spend, growing to over 4.3 million Subscribers today. Tinder’s distinctive “right swipe” feature has led to significant adoption among the millennial generation, previously underserved by the online dating category. Tinder employs a freemium model, through which users are allowed to enjoy many of the core features of Tinder for free, including limited use of the “swipe right” feature with unlimited communication with other users. However, to enjoy premium features, such as unlimited use of the “swipe right” feature, a Tinder user must subscribe to either Tinder Plus, launched in early 2015, or Tinder Gold, which was launched in late summer 2017. Tinder users and Subscribers may also pay for certain premium features, such as Super Likes and Boosts, on a pay-per-use basis. Match. Match was launched in 1995 and helped create the online dating category. Among its distinguishing features are the ability to search profiles, receive algorithmic matches and attend live events, promoted by Match, with other Subscribers. Additionally, new features, such as Missed Connections, which uses location-based technology to enable users to connect with other users with whom they have crossed paths in the past, engage users into more meaningful connections. Match is a brand that focuses on users with a higher level of intent to enter into a relationship and its product and marketing are designed to reinforce that approach. Match relies heavily on word-of-mouth traffic, repeat usage and paid marketing. PlentyOfFish. PlentyOfFish was launched in 2003 and acquired in October 2015. Similar to Match, among its distinguishing features is the ability to both search profiles and receive algorithmic matches. Similar to Tinder, PlentyOfFish has grown to popularity over the years with very limited marketing spend and also relies on a freemium model. PlentyOfFish has broad appeal in the central United States, Canada, the United Kingdom and a number of other international markets. Meetic. Meetic, a leading European online dating brand based in France, was launched in 2001. Similar to Match, among its distinguishing features are the ability to search profiles, receive algorithmic matches, and attend live events, promoted by Meetic, with other Subscribers and non-Subscribers from time to time. Also, similar to Match, Meetic is a brand that focuses on users with a higher level of intent to enter into a relationship and its product and marketing are designed to reinforce that approach. Meetic relies heavily on word-of-mouth traffic, repeat usage and paid marketing. OkCupid. OkCupid was launched in 2004 and has attracted users through a mathematical and Q&A approach to the online dating category. Similar to Tinder and PlentyOfFish, OkCupid has grown in popularity over the years without significant marketing spend and also relies on a freemium model. OkCupid has a loyal highly educated user base predominately located in major cities in the United States and United Kingdom.

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OurTime. OurTime is the largest brand within our affinity-oriented brands. OurTime is the largest community of singles over age 50 of any dating product. Pairs. Pairs was launched in 2012 and acquired in May 2015. Pairs is a leading provider of dating products in Japan, with a strong presence in Taiwan and a growing presence in other select Asian countries. Pairs is a dating app that was specifically designed to address social barriers generally associated with the use of dating products in Asian countries, particularly Japan. Hinge. Hinge was launched in 2012 and following a series of investments, Match took a controlling stake in Hinge in June 2018 and purchased all of the remaining outstanding equity in December 2018. Hinge is a mobile-only experience and employs a freemium model. Hinge focuses on users with a higher level of intent to enter into a relationship and its product is designed to reinforce that approach. All our products enable users to establish a profile and review other users’ profiles without charge. Each product also offers additional features, some of which are free, and some of which require payment depending on the particular product. In general, access to premium features requires a subscription, which is typically offered in packages (primarily ranging from one month to six months), depending on the product and circumstance. Prices differ meaningfully within a given brand by the duration of a subscription purchased, the bundle of paid features that a user chooses to access, and whether or not a Subscriber is taking advantage of any special offers. In addition to subscriptions, many of our products offer the user certain features, such as the ability to promote themselves for a given period of time, or to review certain profiles without any signaling to the other users, and these features are offered on a pay-per-use, or à la carte, basis. The precise mix of paid and premium features is established over time on a brand-by-brand basis and is constantly subject to iteration and evolution. The brands in our portfolio both compete and collaborate with each other. We attempt to empower individual business leaders with the authority and incentives to grow each of our brands. Our brands compete with each other and with third-party dating businesses on brand characteristics, product features, and business model. We also attempt to centrally facilitate excellence and efficiency across the entire portfolio by: • centralizing operational functions across certain brands where we have strength in personnel and sufficient commonality of business interest (for example, ad sales, online marketing and technology centralized across some, but not all, brands); • developing talent across the portfolio to allow for expertise development and career advancement while giving us the ability to deploy the best talent in the most critical positions across the company at any given time; • sharing analytics and similar data to leverage product and marketing successes across our businesses rapidly for competitive advantage; and • centralizing certain administrative functions, like legal, trust and safety, privacy, human resources, and finance, across the entire portfolio to enable each brand to focus more on growth.

Revenue Our revenue is primarily derived directly from users in the form of recurring subscriptions, which typically provide unlimited access to a bundle of features for a specific period of time, and from à la carte features, where users pay a non-recurring fee for a specific action or event. Each of our brands offers a combination of free and paid features targeted to its unique community. In addition to direct revenue from our users, we generate indirect revenue from online advertising, which makes up a much smaller percentage of our overall revenue as compared to direct revenue.

Sales and marketing Certain of our brands attract the majority of their users through word-of-mouth and other free channels. Other brands rely on paid user acquisition for a significant percentage of their users. Our online marketing activities generally consist of purchasing social media advertising, banner and other display advertising, search engine marketing, email campaigns, video advertising, business development or partnership deals, and hiring influencers to promote our products. Our offline marketing activities generally consist of television advertising and related public relations efforts, as well as events.

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Technology Consistent with our general operating philosophy, each of our brands tends to develop its own technology systems to support its product, leveraging both open-source and vendor supported software technology. Each of our various brands has dedicated engineering teams responsible for software development and creation of new features to support our products across the full range of devices, from native mobile applications to desktop and mobile-web. Our engineering teams use an agile development process, allowing us to deploy frequent iterative releases for product features. We host the majority of our brands in leased data centers located within the general geography served by the brand. Other brands, such as Tinder, utilize hosted web services, primarily Amazon Web Services, to support their infrastructure.

Competition The dating industry is competitive and has no single, dominant brand globally. We compete with a number of other companies that provide similar dating and matchmaking products. In addition to other online dating brands, we compete with social media platforms and offline dating services, such as in-person matchmakers. Arguably, our biggest competition comes from the traditional ways that people meet each other, and the choices some people make to not utilize dating products or services. We believe that our ability to compete successfully will depend primarily upon the following factors: • our ability to continue to increase consumer acceptance and adoption of online dating products, particularly in emerging markets and other parts of the world where the stigma is only beginning to erode; • continued growth in internet access and smart phone adoption in certain regions of the world, particularly emerging markets; • the continued strength of our brands; • the breadth and depth of our active communities of users relative to those of our competitors; • our ability to evolve our products in response to our competitors’ offerings, user requirements, social trends, the ever-evolving technological landscape, and the ever-changing regulatory landscape, in particular, as it relates to the regulation of online platforms; • our ability to efficiently acquire new users for our products; • our ability to continue to optimize our monetization strategies; and • the design and functionality of our products. A large portion of online dating customers use multiple dating products over a given period of time, either concurrently or sequentially, making our broad portfolio of brands a competitive advantage.

Intellectual property We regard our intellectual property rights, including trademarks, domain names and other intellectual property, as critical to our success. For example, we rely heavily upon the use of trademarks (primarily Tinder, Match, PlentyOfFish, OkCupid, Meetic, OurTime, Pairs, and Hinge, and associated domain names, taglines and logos) to market our dating products and applications and build and maintain brand loyalty and recognition. We have an ongoing trademark and service mark registration program, pursuant to which we register our brand names and product names, taglines and logos and renew existing trademark and service mark registrations in the United States and other jurisdictions to the extent we determine it to be necessary or otherwise appropriate and cost-effective. In addition, we have a trademark and service mark monitoring policy pursuant to which we monitor applications filed by third parties to register trademarks and service marks that may be confusingly similar to ours, as well as potential unauthorized use of our material trademarks and service marks. Our enforcement of this policy affords us valuable protection under current laws, rules and regulations. We also reserve and file registrations (to the extent available) and renew existing registrations for domain names that we believe are material to our business.

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We also rely upon a combination of in-licensed third-party and proprietary trade secrets, including proprietary algorithms, and upon patented and patent- pending technologies, processes and features relating to our matching process systems or related features, products and services with expiration dates from 2023 to 2036. We have an ongoing invention recognition program pursuant to which we apply for patents to the extent we determine it to be core to our product or businesses or otherwise appropriate and cost-effective. We rely on a combination of internal and external controls, including applicable laws, rules and regulations and contractual restrictions with employees, contractors, customers, suppliers, affiliates and others, to establish, protect and otherwise control access to our various intellectual property rights.

Government regulation We are subject to foreign and domestic laws and regulations that affect companies conducting business on the internet generally, including laws relating to the liability of providers of online services for their operations and the activities of their users. As a result, we could be subject to actions based on negligence, various torts and trademark and copyright infringement, among other actions. See “Risk factors—Risks relating to our business—Inappropriate actions by certain of our users could be attributed to us and damage our brands’ reputations, which in turn could adversely affect our business” and “—Risks relating to our business —We may fail to adequately protect our intellectual property rights or may be accused of infringing the intellectual property rights of third parties.” Because we receive, store and use a substantial amount of information received from or generated by our users, we are also impacted by laws and regulations governing privacy, the storage, sharing, use, processing, disclosure and protection of personal data and data breaches, primarily in the case of our operations in the United States and European Union and our handling of personal data of users located in the United States and European Union, respectively. As a result, we could be subject to various private and governmental claims and actions. See “Risk factors—Risks relating to our business—Unauthorized access of personal data could give rise to liabilities as a result of governmental regulation, conflicting legal requirements or differing views of personal privacy rights and compliance with laws designed to prevent unauthorized access of personal data could be costly.” As the provider of dating products with a subscription-based element, we are also subject to laws and regulations in certain U.S. states and other countries that apply to our automatically-renewing subscription payment models. Finally, certain U.S. states and certain countries in Asia have laws that specifically govern dating services.

Employees As of December 31, 2018 , we had approximately 1,400 full-time employees and approximately 100 part-time employees worldwide.

Additional Information Corporate information. We were incorporated in the State of Delaware on February 12, 2009 as a wholly-owned subsidiary of IAC/InterActiveCorp (“IAC”). Company website and public filings. Investors and others should note that we announce material financial and operational information to our investors using our investor relations website at http://ir.mtch.com , Securities and Exchange Commission (“SEC”) filings, press releases and public conference calls. We use these channels as well as social media to communicate with our users and the public about our company, our services and other issues. It is possible that the information we post on social media could be deemed to be material information. Accordingly, investors, the media, and others interested in our company should monitor the social media channels listed on our investor relations website in addition to following our SEC filings, press releases and public conference calls. Neither the information on our website, nor the information on the website of any Match Group business, is incorporated by reference into this report, or into any other filings with, or into any other information furnished or submitted to, the SEC. The Company makes available, free of charge through its website, its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (including related amendments) as soon as reasonably practicable after they have been electronically filed with (or furnished to) the SEC.

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Code of ethics. The Company’s code of ethics applies to all employees (including Match Group’s principal executive officer, principal financial officer and principal accounting officer) and directors and is posted on the Company’s website at http://ir.mtch.com under the heading of “Corporate Governance.” This code of ethics complies with Item 406 of SEC Regulation S-K and the rules of The Nasdaq Stock Market LLC. Any changes to the code of ethics that affect the provisions required by Item 406 of Regulation S-K, and any waivers of such provisions of the code of ethics for Match Group’s executive officers, senior financial officers or directors, will also be disclosed on Match Group’s website.

Relationship with IAC Equity ownership and vote. Match Group has outstanding shares of common stock, with one vote per share, and shares of Class B common stock, with ten votes per share and which are convertible into common stock on a share for share basis. As of February 1, 2019 , IAC owned 209,919,402 shares of Class B common stock representing 100% of our outstanding Class B common stock and 15,813,277 shares of common stock. These holdings collectively represent approximately 81.1% of our outstanding shares of capital stock and approximately 97.6% of the combined voting power of our outstanding capital stock. Intercompany agreements. In connection with the initial public offering of our common stock in November 2015, we entered into certain agreements relating to our relationship with IAC after the offering. These agreements include, among others, the six agreements described below. Master transaction agreement. The master transaction agreement sets forth the agreements between us and IAC regarding the principal transactions necessary to separate our business from IAC, as well as governs certain aspects of our relationship with IAC. Investor rights agreement. Under the investor rights agreement, we are obligated to provide IAC with certain registration and other rights relating to the shares of our common stock held by it and anti-dilution rights. Tax sharing agreement. The tax sharing agreement governs our and IAC’s rights, responsibilities, and obligations with respect to tax liabilities and benefits, entitlements to refunds, the preparation of tax returns, tax contests and other tax matters regarding U.S. federal, state, local and foreign income taxes. Services agreement. The services agreement currently governs services that IAC has agreed to provide through November 24, 2019 , with automatic renewal for successive one-year terms, subject to IAC’s continued ownership of a majority of the combined voting power of our voting stock and any subsequent extension or truncation agreed to by us and IAC. Employee matters agreement. The employee matters agreement, as amended, covers a wide range of compensation and benefit issues related to the allocation of liabilities associated with: (i) employment or termination of employment, (ii) employee benefit plans and (iii) equity awards. In the event IAC no longer retains shares representing at least 80% of the aggregate voting power of shares entitled to vote in the election of our board of directors, we will no longer participate in IAC’s employee benefit plans, but will establish our own employee benefit plans that will be substantially similar to the plans sponsored by IAC. Subordinated loan credit facility. The subordinated loan facility with IAC (the “IAC Subordinated Loan Facility”) allows the Company to make one or more requests to IAC to borrow funds. If IAC agrees to fulfill any such borrowing request, such indebtedness will be incurred in accordance with the terms of the IAC Subordinated Loan Facility. At December 31, 2018 , the Company had no indebtedness outstanding under the IAC Subordinated Loan Facility. For additional information regarding these agreements, see “ Note 15—Related Party Transactions ” to the consolidated financial statements included in “Item 8—Consolidated Financial Statements.”

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Item 1A. Risk Factors

Cautionary Statement Regarding Forward-Looking Information This annual report on Form 10-K contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as “anticipates,” “estimates,” “expects,” “plans” and “believes,” among others, generally identify forward-looking statements. These forward- looking statements include, among others, statements relating to: Match Group’s future financial performance, Match Group’s business prospects and strategy, anticipated trends and prospects in the industries in which Match Group’s businesses operate and other similar matters. These forward-looking statements are based on Match Group management’s expectations and assumptions about future events as of the date of this annual report, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual results could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others, the risk factors set forth below. Other unknown or unpredictable factors that could also adversely affect Match Group’s business, financial condition and results of operations may arise from time to time. In light of these risks and uncertainties, the forward-looking statements discussed in this annual report may not prove to be accurate. Accordingly, you should not place undue reliance on these forward-looking statements, which only reflect the views of Match Group’s management as of the date of this annual report. Match Group does not undertake to update these forward-looking statements.

Risks relating to our business

The limited operating history of our newer dating brands and products makes it difficult to evaluate our current business and future prospects. We seek to tailor each of our dating brands and products to meet the preferences of specific communities of users. Building a given brand or product is generally an iterative process that occurs over a meaningful period of time and involves considerable resources and expenditures. Although certain of our newer brands and products have experienced significant growth over relatively short periods of time, the historical growth rates of these brands and products may not be an indication of future growth rates for such products or our newer brands and products generally. We have encountered, and may continue to encounter, risks and difficulties as we build our newer brands and products. The failure to successfully address these risks and difficulties could adversely affect our business, financial condition and results of operations. The dating industry is competitive, with low switching costs and a consistent stream of new products and entrants, and innovation by our competitors may disrupt our business. The dating industry is competitive, with a consistent stream of new products and entrants. Some of our competitors may enjoy better competitive positions in certain geographical regions, user demographics or other key areas that we currently serve or may serve in the future. These advantages could enable these competitors to offer products that are more appealing to users and potential users than our products or to respond more quickly and/or cost-effectively than us to new or changing opportunities. In addition, within the dating industry generally, costs for consumers to switch between products are low, and consumers have a propensity to try new approaches to connecting with people and to use multiple dating products at the same time. As a result, new products, entrants and business models are likely to continue to emerge. It is possible that a new product could gain rapid scale at the expense of existing brands through harnessing a new technology or a new or existing distribution channel, creating a new or different approach to connecting people or some other means. Potential competitors include larger companies that could devote greater resources to the promotion or marketing of their products and services, take advantage of acquisition or other opportunities more readily or develop and expand their products and services more quickly than we do. Potential competitors also include established social media companies that may develop products, features, or services that may compete with ours. For example, Facebook has introduced a dating feature on its platform, which it is testing in certain markets, and recently announced that it plans to roll this feature out globally in the near future. These social media competitors could use strong or dominant positions in one or more markets, and ready access to existing large pools of potential users and personal information regarding those users, to gain competitive advantages over us, including by offering different product features or services that users may prefer or offering their products and services to

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RLP 178 Table of Contents users at no charge, which may enable them to acquire and engage users at the expense of our user growth or engagement. If we are not able to compete effectively against our current or future competitors and products that may emerge, the size and level of engagement of our user base may decrease, which could have an adverse effect on our business, financial condition and results of operations. Each of our dating products monetizes users at different rates. If a meaningful migration of our user base from our higher monetizing dating products to our lower monetizing dating products were to occur, it could adversely affect our business, financial condition and results of operations. We own, operate and manage a large and diverse portfolio of dating products. Each dating product has its own mix of free and paid features designed to optimize the user experience and revenue generation from that product’s community of users. In general, the mix of features for the various dating products within our more established brands leads to higher monetization rates per user than the mix of features for the various dating products within our newer brands. Over time, users of our newer brands with lower monetization rates per user comprise an increasingly larger percentage of our user base. If this trend leads to a significant portion of users of our brands with higher monetization rates migrating to our less profitable brands, our business, financial condition and results of operations could be adversely affected. See “Item 7—Management’s discussion and analysis of financial condition and results of operations—Management overview— Trends affecting our business.” Our growth and profitability rely, in part, on our ability to attract and retain users through cost-effective marketing efforts. Any failure in these efforts could adversely affect our business, financial condition and results of operations. Attracting and retaining users for certain of our dating products involve considerable expenditures for online and offline marketing. Historically, we have had to increase our marketing expenditures over time in order to attract and retain users and sustain our growth. Evolving consumer behavior can affect the availability of profitable marketing opportunities. For example, as traditional television viewership declines and as consumers spend more time on mobile devices rather than desktop computers, the reach of many of our traditional advertising channels is contracting. Similarly, as consumers communicate less via email and more via text messaging and other virtual means, the reach of email campaigns designed to attract new and repeat users (and retain current users) for our dating products is adversely impacted. To continue to reach potential users and grow our businesses, we must identify and devote more of our overall marketing expenditures to newer advertising channels, such as mobile and online video platforms, as well as targeted campaigns in which we communicate directly with potential, former and current users via new virtual means. Generally, the opportunities in and sophistication of newer advertising channels are relatively undeveloped and unproven, making it difficult to assess returns on investment associated with such advertising channels, and there can be no assurance that we will be able to continue to appropriately manage and fine-tune our marketing efforts in response to these and other trends in the advertising industry. Any failure to do so could adversely affect our business, financial condition and results of operations. Communicating with our users via email is critical to our success, and any erosion in our ability to communicate in this fashion that is not sufficiently replaced by other means could adversely affect our business, financial condition and results of operations. Historically, one of our primary means of communicating with our users and keeping them engaged with our products has been via email communication. Our ability to communicate via email enables us to keep our users updated on activity with respect to their profile, present or suggest new or interesting users from the community, invite users to offline events and present discount and promotional offers, among other things. As consumer habits evolve in the era of web- enabled mobile devices and messaging/social networking apps, usage of email, particularly among our younger users, has declined. In addition, deliverability and other restrictions imposed by third party email providers and/or applicable law could limit or prevent our ability to send emails to our users. A continued and significant erosion in our ability to communicate successfully with our users via email could have an adverse impact on user experience, levels of user engagement and the rate at which non-paying users become Subscribers. While we continually work to find new means of communicating and connecting with our users (for example, through push notifications), there is no assurance that such alternative means of communication will be

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RLP 179 Table of Contents as effective as email has been. Any failure to develop or take advantage of new means of communication or limitations on those means of communications imposed by laws, device manufacturers or other sources could have an adverse effect on our business, financial condition and results of operations. Foreign currency exchange rate fluctuations could adversely affect our results of operations. We operate in various international markets, primarily in various jurisdictions within the European Union and Asia. During the fiscal years ended December 31, 2018 and 2017 , 50% and 46% of our total revenues, respectively, were international revenues. We translate international revenues into U.S. dollar- denominated operating results and during periods of a strengthening U.S. dollar, our international revenues will be reduced when translated into U.S. dollars. In addition, as foreign currency exchange rates fluctuate, the translation of our international revenues into U.S. dollar-denominated operating results affects the period-over-period comparability of such results and can result in foreign currency exchange gains and losses. We have exposure to foreign currency exchange risk related to transactions carried out in a currency other than the U.S. dollar, and investments in foreign subsidiaries with a functional currency other than the U.S. dollar. Our exposure is primarily related to the Euro, and to a lesser extent, the British Pound (“GBP”). The average GBP and Euro exchange rates strengthened against the U.S. Dollar by 4% and 5%, respectively, in 2018 compared to 2017 . See “Item 7A— Quantitative and Qualitative Disclosures About Market Risk—Foreign Currency Exchange Risk.” Brexit may continue to cause disruptions to capital and currency markets worldwide, and the full impact of the Brexit decision remains uncertain. Ongoing negotiations between the United Kingdom and the European Union will determine the terms of their relationship following Brexit. During this period of negotiation and following the completion of Brexit, our operating results may be negatively affected by exchange rate and other market and economic volatility. To the extent that the U.S. dollar strengthens relative to either the Euro, the GBP or both, the translation of our international revenues into U.S. dollars will reduce our U.S. dollar denominated operating results and will affect their period-over-period comparability. Historically, we have not hedged any foreign currency exposures. The continued growth and expansion of our international operations into new countries increases our exposure to foreign exchange rate fluctuations. Significant foreign exchange rate fluctuations, in the case of one currency or collectively with other currencies, could adversely affect our future results of operations. Distribution and marketing of, and access to, our dating products depends, in significant part, on a variety of third-party publishers, platforms and mobile app stores. If these third parties limit, prohibit or otherwise interfere with or change the terms of the distribution, use, or marketing of our dating products in any material way, it could adversely affect our business, financial condition and results of operations. We market and distribute our dating products (including related mobile applications) through a variety of third-party publishers and distribution channels, including Facebook, which recently announced its own dating product. Our ability to market our brands on any given property or channel is subject to the policies of the relevant third party. Certain publishers and channels have, from time to time, limited or prohibited advertisements for dating products for a variety of reasons, including as a result of poor behavior by other industry participants. There is no assurance that we will not be limited or prohibited from using certain current or prospective marketing channels in the future. If this were to happen in the case of a significant marketing channel and/or for a significant period of time, our business, financial condition and results of operations could be adversely affected. Additionally, our mobile applications are increasingly accessed through the Apple App Store and the Google Play Store. Both Apple and Google have broad discretion to change their respective terms and conditions applicable to the distribution of our applications, including the amount of, and requirement to pay, certain fees associated with purchases facilitated by Apple and Google through our applications, and to interpret their respective terms and conditions in ways that may limit, eliminate or otherwise interfere with our ability to distribute our applications through their stores, the features we provide and the manner in which we market our in-app products. There is no assurance that Apple or Google will not limit, eliminate, or otherwise interfere with the distribution of our products, the features we provide and the manner in which we market our in-app products within our applications. To the extent either or both of them do so, our business, financial condition and results of operations could be adversely affected.

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Lastly, in the case of Tinder, Hinge, and certain other of our products, many users historically registered for (and logged into) the application exclusively through their Facebook profiles. While we have launched an alternate authentication method that allows users to register for (and log into) Tinder, Hinge, and our other products using their mobile phone number, no assurances can be provided that users will no longer register for (and log into) Tinder, Hinge, and our other products through their Facebook profiles. Facebook has broad discretion to change its terms and conditions applicable to the data collected by its platform and its use thereof and to interpret its terms and conditions in ways that could limit, eliminate or otherwise interfere with our ability to use Facebook as an authentication method or to allow Facebook to use such data to gain a competitive advantage. If Facebook did so, our business, financial condition and results of operations could be adversely affected. As the distribution of our dating products through app stores increases, in order to maintain our profit margins, we may need to offset increasing app store fees by decreasing traditional marketing expenditures, increasing user volume or monetization per user or by engaging in other efforts to increase revenue or decrease costs generally, or our business, financial condition and results of operations could be adversely affected. As our user base continues to shift to mobile solutions, we increasingly rely on the Apple App Store and the Google Play Store to distribute our mobile applications and related in-app products. While our mobile applications are generally free to download from these stores, we offer our users the opportunity to purchase subscriptions and certain à la carte features through these applications. We determine the prices at which these subscriptions and features are sold; however, purchases of these subscriptions and features are required to be processed through the in-app payment systems provided by Apple and, to a lesser degree, Google. Due to these requirements, we pay Apple and Google, as applicable, a meaningful share (generally 30%) of the revenue we receive from these transactions. While we are constantly innovating on and creating our own payment systems and methods, given the increase of the distribution of our dating products through app stores and the strict requirements to use the in-app payments systems tied into Apple’s, and to a lesser degree, Google’s distribution services, we may need to offset these increased app store fees by decreasing traditional marketing expenditures as a percentage of revenue, increasing user volume or monetization per user, or by engaging in other efforts to increase revenue or decrease costs generally, or our business, financial condition and results of operations could be adversely affected. Additionally, to the extent Google changes its terms and conditions or practices to require us to process purchases of subscriptions and features through their in-app payment system, our business, financial condition and results of operations could be adversely affected. We depend on our key personnel. Our future success will depend upon our continued ability to identify, hire, develop, motivate and retain highly skilled individuals, with the continued contributions of our senior management being especially critical to our success. Competition for well-qualified employees across Match Group and its various businesses is intense and our continued ability to compete effectively depends, in part, upon our ability to attract new employees. While we have established programs to attract new employees and provide incentives to retain existing employees, particularly our senior management, we cannot guarantee that we will be able to attract new employees or retain the services of our senior management or any other key employees in the future. Effective succession planning is also important to our future success. If we fail to ensure the effective transfer of senior management knowledge and smooth transitions involving senior management across our various businesses, our ability to execute short and long term strategic, financial and operating goals, as well as our business, financial condition and results of operations generally, could be adversely affected. Our success depends, in part, on the integrity of our systems and infrastructures and on our ability to enhance, expand and adapt these systems and infrastructures in a timely and cost-effective manner. In order for us to succeed, our systems and infrastructures must perform well on a consistent basis. We have in the past, and from time to time we may in the future, experience system interruptions that make some or all of our systems or data unavailable and prevent our products from functioning properly for our users; any such interruption could arise for any number of reasons. Further, our systems and infrastructures are vulnerable to damage from fire, power loss, telecommunications failures, acts of God and similar events. While we have backup systems in place for certain aspects of our operations, our systems and infrastructures are not fully redundant, disaster recovery planning is not sufficient for all eventualities and our property and business interruption insurance coverage may not be adequate to compensate us fully for any losses that we may suffer.

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Any interruptions or outages, regardless of the cause, could negatively impact our users’ experiences with our products, tarnish our brands’ reputations and decrease demand for our products, any or all of which could adversely affect our business, financial condition and results of operations. We also continually work to expand and enhance the efficiency and scalability of our technology and network systems to improve the experience of our users, accommodate substantial increases in the volume of traffic to our various products, ensure acceptable load times for our products and keep up with changes in technology and user preferences. Any failure to do so in a timely and cost-effective manner could adversely affect our users’ experience with our various products and thereby negatively impact the demand for our products, and could increase our costs, either of which could adversely affect our business, financial condition and results of operations. We may not be able to protect our systems and infrastructures from cyberattacks and may be adversely affected by cyberattacks experienced by third parties. We are regularly under attack by perpetrators of random or targeted malicious technology-related events, such as cyberattacks, computer viruses, worms, bot attacks or other destructive or disruptive software, distributed denial of service attacks and attempts to misappropriate customer information, including credit card information and account login credentials. While we have invested (and continue to invest) heavily in the protection of our systems and infrastructures, in related personnel and training and in employing a strategy of data minimization, where appropriate, there can be no assurance that our efforts will prevent significant breaches in our systems or other such events from occurring. Some of our systems have experienced past security incidents, and, although they did not have a material adverse effect on our operating results, there can be no assurance of a similar result in the future. Any cyber or similar attack we are unable to protect ourselves against could damage our systems and infrastructures, prevent us from providing our products, erode our reputation and brands, result in the disclosure of confidential or sensitive information of our users and/or be costly to remedy, as well as subject us to investigations by regulatory authorities and/or litigation that could result in liability to third parties. The impact of cyber security events experienced by third-parties with whom we do business (or upon whom we otherwise rely in connection with our day-to- day operations) could have a similar effect on us. Moreover, even cyber or similar attacks that do not directly affect us or third parties with whom we do business may result in widespread access to user account login credentials that such users have used across multiple internet sites, including our sites, or a loss of consumer confidence generally, which could make users less likely to use or continue to use online products generally, including our products. The occurrence of any of these events could have an adverse effect on our business, financial condition and results of operations. Our success depends, in part, on the integrity of third-party systems and infrastructures. We rely on third parties, primarily data center service providers and cloud-based, hosted web service providers, such as Amazon Web Services, as well as third party computer systems, broadband and other communications systems and service providers, in connection with the provision of our products generally, as well as to facilitate and process certain transactions with our users. We have no control over any of these third parties or their operations. Problems experienced by third-party data center service providers and cloud-based, hosted web service providers, such as Amazon Web Services, upon whom we rely, the telecommunications network providers with whom we or they contract or with the systems through which telecommunications providers allocate capacity among their customers could also adversely affect us. Any changes in service levels at our data centers or hosted web service providers, such as Amazon Web Services, or any interruptions, outages or delays in our systems or those of our third party providers, or deterioration in the performance of these systems, could impair our ability to provide our products or process transactions with our users, which would adversely impact our business, financial condition and results of operations. If the security of personal and confidential or sensitive user information that we maintain and store is breached or otherwise accessed by unauthorized persons, it may be costly to mitigate the impact of such an event and our reputation could be harmed. We receive, process, store and transmit a significant amount of personal user and other confidential or sensitive information, including credit card information, and enable our users to share their personal information with each other. In some cases, we engage third party vendors to store this information. We continuously develop

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RLP 182 Table of Contents and maintain systems to protect the security, integrity and confidentiality of this information, but cannot guarantee that inadvertent or unauthorized use or disclosure will not occur or that third parties will not gain unauthorized access to this information despite our efforts. When such events occur, we may not be able to remedy them, and we may have to expend significant capital and other resources to mitigate the impact of such events, including developing and implementing protections to prevent future events of this nature from occurring. When breaches of security (or the security of our vendors and partners) occur, the perception of the effectiveness of our security measures, the security measures of our partners and our reputation may be harmed, we may lose current and potential users and the recognition of our various brands and their competitive positions may be diminished, any or all of which might adversely affect our business, financial condition and results of operations. Our business is subject to complex and evolving U.S. and international laws and regulations. Many of these laws and regulations are subject to change and uncertain interpretation, and could result in claims, changes to our business practices, monetary penalties, increased cost of operations, or declines in user growth or engagement, or otherwise harm our business. We are subject to a variety of laws and regulations in the United States and abroad that involve matters that are important to or may otherwise impact our business, including, among others, broadband internet access, online commerce, advertising, user privacy, data protection, intermediary liability, protection of minors, consumer protection, sex-trafficking, taxation and securities law compliance. The introduction of new products, expansion of our activities in certain jurisdictions, or other actions that we may take may subject us to additional laws, regulations, or other government scrutiny. In addition, foreign laws and regulations can impose different obligations or be more restrictive than those in the United States. These U.S. federal, state, and municipal and foreign laws and regulations, which in some cases can be enforced by private parties in addition to government entities, are constantly evolving and can be subject to significant change. As a result, the application, interpretation, and enforcement of these laws and regulations are often uncertain, particularly in the new and rapidly evolving industry in which we operate, and may be interpreted and applied inconsistently from state to state and country to country and inconsistently with our current policies and practices. These laws and regulations, as well as any associated inquiries or investigations or any other government actions, may be costly to comply with and may delay or impede the development of new products, result in negative publicity, increase our operating costs, require significant management time and attention, and subject us to remedies that may harm our business, including fines or demands or orders that we modify or cease existing business practices. Specifically, in the case of tax laws, positions that we have taken or will take are subject to interpretation by the relevant taxing authorities. While we believe that the positions we have taken to date comply with applicable law, there can be no assurances that the relevant taxing authorities will not take a contrary position, and if so, that such positions will not adversely affect us. Any events of this nature could adversely affect our business, financial condition and results of operations. Proposed or new legislation and regulations could also adversely affect our business. For example, the European Commission and several countries have issued proposals that would change various aspects of the current tax framework under which we are taxed, including proposals to change or impose new types of non-income taxes, including taxes based on a percentage of revenue. For example, the United Kingdom has proposed taxes applicable to digital services, which includes business activities on social media platforms, and would likely apply to our business. If enacted, one or more of these or similar proposals could adversely affect our business, financial condition and results of operations. The promulgation of new laws or regulations, or the new interpretation of existing laws and regulations, in each case that restrict or otherwise unfavorably impact the ability or manner in which we provide our services could require us to change certain aspects of our business and operations to ensure compliance, which could decrease demand for services, reduce revenues, increase costs and subject us to additional liabilities. For example, in February 2019, the Secretary of State for Digital, Culture, Media and Sport of the United Kingdom, indicated in public comments that his office intends to inquire as to the measures utilized by online dating platforms, including Tinder, to prevent access by underage users. To the extent any new or more stringent measures are required to be implemented, our business, financial condition and results of operations could be adversely affected.

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The adoption of any laws or regulations that adversely affect the popularity or growth in use of the internet or our services, including laws or regulations that undermine open and neutrally administered internet access, could decrease user demand for our service offerings and increase our cost of doing business. For example, in December 2017, the Federal Communications Commission adopted an order reversing net neutrality protections in the United States, including the repeal of specific rules against blocking, throttling or “paid prioritization” of content or services by internet service providers. To the extent internet service providers engage in such blocking, throttling, “paid prioritization” of content or similar actions as a result of this order and the adoption of similar laws or regulations, our business, financial condition and results of operations could be adversely affected. The varying and rapidly-evolving regulatory framework on privacy and data protection across jurisdictions could result in claims, changes to our business practices, monetary penalties, increased cost of operations, or declines in user growth or engagement, or otherwise harm our business. There are numerous laws in the countries in which we operate regarding privacy and the storage, sharing, use, processing, disclosure and protection of this kind of information, the scope of which are constantly changing, and in some cases, inconsistent and conflicting and subject to differing interpretations, as new laws of this nature are proposed and adopted. For example, in 2016 the European Commission adopted the General Data Protection Act (“GDPR”), a comprehensive European Union privacy and data protection reform that became effective in May 2018. The act applies to companies established in the European Union or otherwise providing services or monitoring the behavior of people located in the European Union and which provides for significant penalties in case of non-compliance. GDPR will continue to be interpreted by EU data protection regulators, which may require that we make changes to our business practices, and could generate additional risks and liabilities. The European Union is also considering an update to the EU’s Privacy and Electronic Communications (so-called “e- Privacy”) Directive, notably to amend rules on the use of cookies. In addition, Brexit could result in the application of new and conflicting data privacy and protection laws and standards to our operations in the United Kingdom and our handling of personal data of users located in the United Kingdom. At the same time, certain developing countries in which we do business have already or are also currently considering adopting privacy and data protection laws and regulations. Legislative proposals concerning privacy and the protection of user information are being considered by the U.S. Congress, such as the American Data Dissemination Act, which was introduced in February 2019 by Senator Marco Rubio, as well as various U.S. state legislatures, including the California Consumer Privacy Act of 2018, which was signed into law on June 28, 2018 and comes into effect on January 1, 2020. While we believe that we comply with industry standards and applicable laws and industry codes of conduct relating to privacy and data protection in all material respects, there is no assurance that we will not be subject to claims that we have violated applicable laws or codes of conduct, that we will be able to successfully defend against such claims or that we will not be subject to significant fines and penalties in the event of non-compliance. Any failure or perceived failure by us (or the third parties with whom we have contracted to process such information) to comply with applicable privacy and security laws, policies or related contractual obligations or any compromise of security that results in unauthorized access, or the use or transmission of, personal user information could result in a variety of claims against us, including governmental enforcement actions, significant fines, litigation, claims of breach of contract and indemnity by third parties and adverse publicity. When such events occur, our reputation may be harmed, we may lose current and potential users and the competitive positions of our various brands might be diminished, any or all of which could adversely affect our business, financial condition and results of operations. Lastly, compliance with the numerous laws in the countries in which we operate regarding privacy and the storage, sharing, use, processing, disclosure and protection of personal data could be costly, as well as result in delays in the development of new products and features as resources are allocated to these compliance projects, particularly as these laws become more comprehensive in scope, more commonplace and continue to evolve. In addition, the varying and rapidly-evolving regulatory frameworks across jurisdictions may result in decisions to introduce products in certain jurisdictions but not others or to cease providing certain services or features to users located in certain jurisdictions. If these costs or other impacts are significant, our business, financial condition and results of operations could be adversely affected.

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We are subject to a number of risks related to credit card payments, including data security breaches and fraud that we or third parties experience or additional regulation, any of which could adversely affect our business, financial condition and results of operations. We accept payment from our users primarily through credit card transactions and certain online payment service providers. The ability to access credit card information on a real-time basis without having to proactively reach out to the consumer each time we process an auto-renewal payment or a payment for the purchase of a premium feature on any of our dating products is critical to our success and a seamless experience for our users. When we or a third party experiences a data security breach involving credit card information, affected cardholders will often cancel their credit cards. In the case of a breach experienced by a third party, the more sizable the third party’s customer base and the greater the number of credit card accounts impacted, the more likely it is that our users would be impacted by such a breach. To the extent our users are ever affected by such a breach experienced by us or a third party, affected users would need to be contacted to obtain new credit card information and process any pending transactions. It is likely that we would not be able to reach all affected users, and even if we could, some users’ new credit card information may not be obtained and some pending transactions may not be processed, which could adversely affect our business, financial condition and results of operations. Even if our users are not directly impacted by a given data security breach, they may lose confidence in the ability of service providers to protect their personal information generally, which could cause them to stop using their credit cards online and choose alternative payment methods that are not as convenient for us or restrict our ability to process payments without significant user effort. Additionally, if we fail to adequately prevent fraudulent credit card transactions, we may face litigation, fines, governmental enforcement action, civil liability, diminished public perception of our security measures, significantly higher credit card-related costs and substantial remediation costs, or refusal by credit card processors to continue to process payments on our behalf, any of which could adversely affect our business, financial condition and results of operations. Finally, the passage or adoption of any legislation or regulation affecting the ability of service providers to periodically charge consumers for recurring subscription payments may adversely affect our business, financial condition and results of operations. For example, the European Union’s Payment Services Directive (PSD2), which became effective in 2018, could impact our ability to process auto-renewal payments or offer promotional or differentiated pricing for users in the EU. Similar legislation or regulation, or changes to existing legislation or regulation governing subscription payments, are being considered in many U.S. states. Inappropriate actions by certain of our users could be attributed to us and damage our brands’ reputations, which in turn could adversely affect our business. The reputations of our brands may be adversely affected by the actions of our users that are deemed to be hostile, offensive, defamatory, inappropriate, untrue or unlawful. While we have systems and processes in place that aim to monitor and review the appropriateness of the content accessible through our products, which include, in particular, reporting tools through which users can inform us of such behavior on the platform, and have adopted policies regarding illegal, offensive or inappropriate use of our products, our users could nonetheless engage in activities that violate our policies. These safeguards may not be sufficient to avoid harm to our reputation and brands, especially if such hostile, offensive or inappropriate use is well-publicized. In addition, it is possible that a user of our products could be physically, financially, emotionally or otherwise harmed by an individual that such user met through the use of one of our products. If one or more of our users suffers or alleges to have suffered any such harm, we could experience negative publicity or legal action that could damage our reputation and our brands. Similar events affecting users of our competitors’ products could result in negative publicity for the dating industry generally, which could in turn negatively affect our business. Concerns about harms and the use of dating products and social networking platforms for illegal conduct, such as romance scams, promotion of false or inaccurate information, financial fraud, and sex-trafficking, have produced and could continue to produce future legislation or other governmental action. For example, on April 11, 2018, the Allow States and Victims to Fight Online Sex Trafficking Act became effective in the United States and allows victims of sex trafficking crimes, as well as other state and local authorities, to seek redress from

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RLP 185 Table of Contents platforms in certain circumstances in connection with sex trafficking of individuals online. The European Union and the United Kingdom have also launched consultations, and the United Kingdom is preparing to release its Online Harms White Paper, regarding proposed legislation that would expose platforms to similar or more expansive liability. If these proposed laws are passed, or if future legislation or governmental action is proposed or taken to address concerns regarding such harms, changes could be required to our products that could restrict or impose additional costs upon the conduct of our business generally or cause users to abandon our products. We may fail to adequately protect our intellectual property rights or may be accused of infringing the intellectual property rights of third parties. We rely heavily upon our trademarks and related domain names and logos to market our brands and to build and maintain brand loyalty and recognition, as well as upon trade secrets. We also rely upon patented and patent-pending proprietary technologies relating to matching process systems and related features and products. We also rely on a combination of laws, and contractual restrictions with employees, customers, suppliers, affiliates and others, to establish and protect our various intellectual property rights. For example, we have generally registered and continue to apply to register and renew, or secure by contract where appropriate, trademarks and service marks as they are developed and used, and reserve, register and renew domain names as we deem appropriate. Effective trademark protection may not be available or may not be sought in every country in which our products are made available, and contractual disputes may affect the use of marks governed by private contract. Similarly, not every variation of a domain name may be available or be registered, even if available. We also generally seek to apply for patents or for other similar statutory protections as and if we deem appropriate, based on then-current facts and circumstances, and will continue to do so in the future. No assurances can be given that any patent application we have filed or will file will result in a patent being issued, or that any existing or future patents will afford adequate protection against competitors and similar technologies. In addition, no assurances can be given that third parties will not create new products or methods that achieve similar results without infringing upon patents we own. Despite these measures, our intellectual property rights may still not be protected in a meaningful manner, challenges to contractual rights could arise, third parties could copy or otherwise obtain and use our intellectual property without authorization, or laws and interpretations of laws regarding the enforceability of existing intellectual property rights may change over time in a manner that provides less protection. The occurrence of any of these events could result in the erosion of our brands and limit our ability to market our brands using our various domain names, as well as impede our ability to effectively compete against competitors with similar technologies, any of which could adversely affect our business, financial condition and results of operations. From time to time, we have been subject to legal proceedings and claims, including claims of alleged infringement of trademarks, copyrights, patents and other intellectual property rights held by third parties. In addition, litigation may be necessary in the future to enforce our intellectual property rights, protect our trade secrets and patents or to determine the validity and scope of proprietary rights claimed by others. For example, on March 17, 2018, we filed a lawsuit against Bumble Trading Inc., which operates and markets the online dating application Bumble in the United States, for patent and trademark infringement, as well as trade secret misappropriation. Bumble’s counterclaims request that our trademark registration for our SWIPE trademark be cancelled and that a number of our pending applications for trademark registration be denied. This case is currently pending in Federal Court in the Western District of Texas. Any litigation of this nature, regardless of outcome or merit, could result in substantial costs and diversion of management and technical resources, any of which could adversely affect our business, financial condition and results of operations. We operate in various international markets, including certain markets in which we have limited experience. As a result, we face additional risks in connection with certain of our international operations. Our brands are available in over 40 different languages all over the world. Our international revenue represented 50% and 46% of our total revenue for the fiscal years ended December 31, 2018 and 2017 , respectively.

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Operating internationally, particularly in countries in which we have limited experience, exposes us to a number of additional risks, including: • operational and compliance challenges caused by distance, language and cultural differences; • difficulties in staffing and managing international operations; • differing levels of social and technological acceptance of our dating products or lack of acceptance of them generally; • foreign currency fluctuations; • restrictions on the transfer of funds among countries and back to the United States and costs associated with repatriating funds to the United States; • differing and potentially adverse tax laws; • multiple, conflicting and changing laws, rules and regulations, and difficulties understanding and ensuring compliance with those laws by both our employees and our business partners, over whom we exert no control; • compliance challenges due to different laws and regulatory environments, particularly in the case of privacy and data security; • competitive environments that favor local businesses; • limitations on the level of intellectual property protection; and • trade sanctions, political unrest, terrorism, war and epidemics or the threat of any of these events. The occurrence of any or all of the events described above could adversely affect our international operations, which could in turn adversely affect our business, financial condition and results of operations. We may experience operational and financial risks in connection with acquisitions. We have made numerous acquisitions in the past and we continue to seek potential acquisition candidates. We may experience operational and financial risks in connection with historical and future acquisitions if we are unable to: • properly value prospective acquisitions, especially those with limited operating histories; • accurately review acquisition candidates’ business practices against applicable laws and regulations and, where applicable, implement proper remediation controls, procedures, and policies; • successfully integrate the operations, as well as the accounting, financial controls, management information, technology, human resources and other administrative systems, of acquired businesses with our existing operations and systems; • successfully identify and realize potential synergies among acquired and existing businesses; • fully identify potential risks and liabilities associated with acquired businesses; • retain or hire senior management and other key personnel at acquired businesses; and • successfully manage acquisition-related strain on our management, operations and financial resources and those of the various brands in our portfolio. Furthermore, we may not be successful in addressing other challenges encountered in connection with our acquisitions. The anticipated benefits of one or more of our acquisitions may not be realized or the value of goodwill and other intangible assets acquired could be impacted by one or more continuing unfavorable events or trends, which could result in significant impairment charges. In addition, such acquisitions can result in material diversion of management’s attention or other resources from our existing businesses. The occurrence of any these events could have an adverse effect on our business, financial condition and results of operations.

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We are subject to litigation and adverse outcomes in such litigation could have an adverse effect on our financial condition. We are, and from time to time may become, subject to litigation and various legal proceedings, including litigation and proceedings related to intellectual property matters, privacy and consumer protection laws, as well as stockholder derivative suits, class action lawsuits and other matters, that involve claims for substantial amounts of money or for other relief or that might necessitate changes to our business or operations. For example, as discussed in “Item 3—Legal Proceedings,” in August 2018, ten then-current and former employees of our Tinder business filed a lawsuit against us in connection with a valuation of the Tinder business, and its subsequent merger into Match Group, Inc., in July 2017. The defense of these actions is time consuming and expensive. We evaluate these litigation claims and legal proceedings to assess the likelihood of unfavorable outcomes and to estimate, if possible, the amount of potential losses. Based on these assessments and estimates, we may establish reserves and/or disclose the relevant litigation claims or legal proceedings, as and when required or appropriate. These assessments and estimates are based on information available to management at the time of such assessment or estimation and involve a significant amount of judgment. As a result, actual outcomes or losses could differ materially from those envisioned by our current assessments and estimates. Our failure to successfully defend or settle any of these litigations or legal proceedings could result in liability that, to the extent not covered by our insurance, could have an adverse effect on our business, financial condition and results of operations.

Risks related to our ongoing relationship with IAC

IAC controls our company and has the ability to control the direction of our business. As of February 1, 2019 , IAC owned 15,813,277 shares of our common stock and 209,919,402 shares of Class B common stock representing 100% of our outstanding Class B common stock. IAC’s ownership of our outstanding common stock and Class B common stock represents approximately 81.1% of our outstanding shares of capital stock and approximately 97.6% of the combined voting power of our outstanding capital stock. As long as IAC owns shares of our capital stock representing a majority of the combined voting power of our outstanding capital stock, it will be able to control any corporate action that requires a stockholder vote, regardless of the vote of any other stockholder. As a result, IAC has the ability to control significant corporate activities, including: • the election of our board of directors and, through our board of directors, decision-making with respect to our business direction and policies, including the appointment and removal of our officers; • acquisitions or dispositions of businesses or assets, mergers or other business combinations; • issuances of shares of our common stock, Class B common stock, Class C common stock and our capital structure; • corporate opportunities that may be suitable for us and IAC, subject to the corporate opportunity provisions in our certificate of incorporation, as described below; • our financing activities, including the issuance of additional debt and equity securities, or the incurrence of other indebtedness generally; • the payment of dividends; and • the number of shares available for issuance under our equity incentive plans for our prospective and existing employees. This voting control will limit the ability of other stockholders to influence corporate matters and, as a result, we may take actions that stockholders other than IAC do not view as beneficial. This voting control may also discourage transactions involving a change of control of our company, including transactions in which holders of our common stock might otherwise receive a premium for the holders’ shares. Furthermore, IAC generally has the right at any time to sell or otherwise dispose of the shares of our capital stock that it owns, including the ability to transfer a controlling interest in us to a third party, without the approval of the holders of our common stock and without providing for the purchase of shares of common stock. Even if IAC owns shares of our capital stock representing less than a majority of the combined voting power of our outstanding capital stock, so long as IAC retains shares representing a significant percentage of our combined voting power, IAC will have the ability to substantially influence these significant corporate activities.

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In addition, pursuant to an investor rights agreement between us and IAC, IAC has the right to maintain its level of ownership in us to the extent we issue additional shares of our capital stock in the future and, pursuant to an employee matters agreement between us and IAC, IAC may receive payment for certain compensation expenses through the receipt of additional shares of our capital stock. For a more complete summary of our agreements with IAC, see “ Note 15— Related Party Transactions ” to the consolidated financial statements included in “Item 8—Consolidated Financial Statements.” In addition, because of our relationship with IAC, credit rating agencies have considered, and could continue to consider, IAC’s creditworthiness when determining a corporate credit rating for us or credit ratings for our debt, including the notes offered hereby. Accordingly, the activities of, or developments at, IAC that are outside of our control could have a negative impact on such credit ratings. A lowering of our corporate credit ratings or the credit ratings assigned to our debt could harm our ability to incur additional debt on acceptable terms and may adversely affect the market price or liquidity of the notes offered hereby. Until such time as IAC no longer controls or has the ability to substantially influence us, we will continue to face the risks described in this “Risk factors” section relating to IAC’s control of us and the potential conflicts of interest between IAC and us. Our certificate of incorporation could prevent us from benefiting from corporate opportunities that might otherwise have been available to us. Our certificate of incorporation has a “corporate opportunity” provision in which we renounce any interests or expectancy in corporate opportunities which become known to: (i) any of our directors or officers who are also officers, directors, employees or other affiliates of IAC or its affiliates (except that we and our subsidiaries shall not be deemed affiliates of IAC or its affiliates for the purposes of the provision) or (ii) IAC itself, and which relate to the business of IAC or may constitute a corporate opportunity for both IAC and us. Generally, neither IAC nor our officers or directors who are also officers or directors of IAC or its affiliates will be liable to us or our stockholders for breach of any fiduciary duty by reason of the fact that any such person pursues or acquires any corporate opportunity for the account of IAC or its affiliates, directs or transfers such corporate opportunity to IAC or its affiliates, or does not communicate information regarding such corporate opportunity to us. The corporate opportunity provision may exacerbate conflicts of interest between IAC and us because the provision effectively permits any of our directors or officers who also serves as an officer or director of IAC to choose to direct a corporate opportunity to IAC instead of to us. IAC’s interests may conflict with our interests and the interests of our stockholders. Conflicts of interest between IAC and us could be resolved in a manner unfavorable to us and our public stockholders. Various conflicts of interest between us and IAC could arise. As of the date of this report, five of our ten directors are current members of the board of directors or executive officers of IAC. Ownership interests of directors or officers of IAC in our stock and ownership interests of our directors and officers in the stock of IAC, or a person’s service as either a director or officer of both companies, could create or appear to create potential conflicts of interest when those directors and officers are faced with decisions relating to our company. These decisions could include: • corporate opportunities; • the impact that operating decisions for our business may have on IAC’s consolidated financial statements; • the impact that operating or capital decisions (including the incurrence of indebtedness) for our business may have on IAC’s current or future indebtedness or the covenants under that indebtedness; • business combinations involving us; • our dividend policy; • management stock ownership; and • the intercompany services and agreements between IAC and us. Potential conflicts of interest could also arise if we decide to enter into any new commercial arrangements with IAC in the future or in connection with IAC’s desire to enter into new commercial arrangements with third parties.

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Furthermore, disputes may arise between IAC and us relating to our past and ongoing relationships, and these potential conflicts of interest may make it more difficult for us to favorably resolve such disputes, including those related to: • tax, employee benefit, indemnification and other matters; • the nature, quality and pricing of services IAC agrees to provide to us; • sales or other disposal by IAC of all or a portion of its ownership interest in us; and • business combinations involving us. We may not be able to resolve any potential conflicts with IAC, and even if we do, the resolution may be less favorable to us than if we were dealing with an unaffiliated party. While we are controlled by IAC, we may not have the leverage to negotiate amendments to these agreements, if required, on terms as favorable to us as those we would negotiate with an unaffiliated third party. We are a “controlled company” as defined in the NASDAQ rules, and rely on exemptions from certain corporate governance requirements that provide protection to stockholders of other companies. As a result of IAC owning more than 50% of the combined voting power of our share capital, we are a “controlled company” under the Marketplace Rules of the NASDAQ Stock Market, or the Marketplace Rules. As a “controlled company,” we are exempt from the obligation to comply with certain Marketplace Rules related to corporate governance, including the following requirements: • that a majority of our board of directors consists of “independent directors,” as defined under the Marketplace Rules; and • that we have a nominating/governance committee that is composed entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities. Accordingly, for so long as we are a “controlled company,” our stockholders will not have the same protections afforded to stockholders of companies that are subject to all of the corporate governance requirements of the Marketplace Rules. In order to preserve the ability of IAC to distribute its shares of our capital stock on a tax-free basis, we may be prevented from pursuing opportunities to raise capital, to effectuate acquisitions or to provide equity incentives to our employees, which could hurt our ability to grow. Under current laws, IAC must retain beneficial ownership of at least 80% of our combined voting power and 80% of each class of our nonvoting capital stock (if any is outstanding) in order to effect a tax-free distribution of our shares held by IAC to its stockholders. As of the date of this annual report, IAC has advised us that it does not have any present intention or plans to undertake such a tax-free distribution. However, IAC does currently intend to use its majority voting interest to retain its ability to engage in such a transaction. This intention may cause IAC to not support transactions we wish to pursue that involve issuing shares of our common stock, including for capital raising purposes, as consideration for an acquisition or as equity incentives to our employees. The inability to pursue such transactions, if it occurs, may adversely affect our company. See “—IAC controls our company and will have the ability to control the direction of our business” and “—IAC’s interests may conflict with our interests and the interests of our stockholders.” Conflicts of interest between IAC and us could be resolved in a manner unfavorable to us and our public stockholders. Our agreements with IAC will require us to indemnify IAC for certain tax liabilities and may limit our ability to engage in desirable strategic or capital raising transactions, including following any distribution by IAC of our capital stock to its stockholders. Under a tax sharing agreement between us and IAC, we generally are responsible and are required to indemnify IAC for: (i) all taxes imposed with respect to any consolidated, combined or unitary tax return of IAC or one of its subsidiaries that includes us or any of our subsidiaries to the extent attributable to us or any of our subsidiaries, as determined under the tax sharing agreement, and (ii) all taxes imposed with respect to any consolidated, combined, unitary or separate tax returns of us or any of our subsidiaries. To the extent IAC failed to pay taxes imposed with respect to any consolidated, combined or unitary tax return of IAC or one of its

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RLP 190 Table of Contents subsidiaries that includes us or any of our subsidiaries, the relevant taxing authority could seek to collect such taxes (including taxes for which IAC is responsible under the tax sharing agreement) from us or our subsidiaries. Under the tax sharing agreement, we generally will be responsible for any taxes and related amounts imposed on IAC or us that arise from the failure of a future spin-off of IAC’s interest in us to qualify as a transaction that is generally tax-free, for U.S. federal income tax purposes, under Section 368(a)(1)(D) and/or Section 355 of the Internal Revenue Code of 1986, as amended, or the Code, to the extent that the failure to so qualify is attributable to: (i) a breach of the relevant representations and covenants made by us in the tax sharing agreement or any representation letter provided in support of any tax opinion or ruling obtained by IAC with respect to the U.S. federal income tax treatment of such spin-off, or (ii) an acquisition of our equity securities. To preserve the tax-free treatment of any potential future spin-off by IAC of its interest in us, and in addition to our indemnity obligation described above, the tax sharing agreement will restrict us, for the two-year period following any such spin-off, except in specific circumstances, from: (i) entering into any transaction pursuant to which all or a portion of shares of our stock would be acquired, whether by merger or otherwise, (ii) issuing equity securities beyond certain thresholds, (iii) repurchasing our shares other than in certain open-market transactions, (iv) ceasing to actively conduct our businesses or (v) taking or failing to take any other action that prevents the distribution and related transactions from qualifying as a transaction that is generally tax-free, for U.S. federal income tax purposes, under Section 368(a)(1)(D) and/or Section 355 of the Code. These indemnity obligations and other limitations could have an adverse effect on our business, financial condition and results of operations. Future sales or distributions of our shares by IAC could depress our common stock price. IAC has the right to sell or distribute to its stockholders all or a portion of the shares of our capital stock that it holds ( 15,813,277 shares of our common stock and 209,919,402 shares of our Class B common stock, representing all of our outstanding Class B common stock, as of February 1, 2019 ). As of the date of this annual report, IAC has advised us that it does not have any present intention or plans to undertake such a sale or distribution; however, any sales by IAC in the public market or distributions to its stockholders of substantial amounts of our stock in the form of common stock or Class B common stock, or the filing by IAC of a registration statement relating to a substantial amount of our stock, could depress the price of our common stock. In addition, IAC has the right, subject to certain conditions, to require us to file registration statements covering the sale of its shares or to include its shares in other registration statements that we may file. In the event IAC exercises its registration rights and sells all or a portion of its shares of our capital stock, the price of our common stock could decline. The services that IAC provides to us may not be sufficient to meet our needs, which may result in increased costs and otherwise adversely affect our business. IAC currently provides (and is expected to continue to provide) us with corporate and shared services related to certain corporate functions, including tax and other services, for a fee provided in the services agreement described in “Item 1—Business-Relationship with IAC.” IAC is not obligated to provide these services in a manner that differs from the nature of the service when we were a wholly-owned subsidiary of IAC, and thus we may not be able to modify these services in a manner desirable to us as a stand-alone public company. Further, if we no longer receive these services from IAC, we may not be able to perform these services ourselves, or find appropriate third-party arrangements at a reasonable cost, and the cost may be higher than that charged by IAC.

Risks related to our indebtedness

Our indebtedness may affect our ability to operate our business, which could have a material adverse effect on our financial condition and results of operations. We and our subsidiaries may incur additional indebtedness, including secured indebtedness. As of December 31, 2018 , we had total debt outstanding of approximately $1.5 billion and borrowing availability of $240 million under our revolving credit facility.

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Our indebtedness could have important consequences, such as: • limiting our ability to obtain additional financing to fund our working capital needs, acquisitions, capital expenditures or other debt service requirements or for other purposes; • limiting our ability to use operating cash flow in other areas of our business because we must dedicate a substantial portion of these funds to service debt; • limiting our ability to compete with other companies who are not as highly leveraged, as we may be less capable of responding to adverse economic and industry conditions; • restricting us from making strategic acquisitions, developing properties or exploiting business opportunities; • restricting the way in which we conduct our business because of financial and operating covenants in the agreements governing our and certain of our subsidiaries’ existing and future indebtedness, including, in the case of certain indebtedness of subsidiaries, certain covenants that restrict the ability of subsidiaries to pay dividends or make other distributions to us; • exposing us to potential events of default (if not cured or waived) under financial and operating covenants contained in our or our subsidiaries’ debt instruments that could have a material adverse effect on our business, financial condition and operating results; increasing our vulnerability to a downturn in general economic conditions or in pricing of our products; and • limiting our ability to react to changing market conditions in our industry and in our customers’ industries. In addition to our debt service obligations, our operations require substantial investments on a continuing basis. Our ability to make scheduled debt payments, to refinance our obligations with respect to our indebtedness and to fund capital and non-capital expenditures necessary to maintain the condition of our operating assets and properties, as well as to provide capacity for the growth of our business, depends on our financial and operating performance, which, in turn, is subject to prevailing economic conditions and financial, business, competitive, legal and other factors. Subject to the restrictions in our credit agreement (which includes our revolving credit facility and term loan) and the restrictions included in the indentures related to our 6.375% Senior Notes due 2024, 5.00% Senior Notes due 2027, and 5.625% Senior Notes due 2029 (the “Match Group Senior Notes”), we and our subsidiaries may incur significant additional indebtedness, including additional secured indebtedness. Although the terms of our credit agreement and the indentures related to the Match Group Senior Notes contain restrictions on the incurrence of additional indebtedness, these restrictions are subject to a number of qualifications and exceptions, and additional indebtedness incurred in compliance with these restrictions could be significant. If new debt is added to our and our subsidiaries’ current debt levels, the risks described above could increase. We may not be able to generate sufficient cash to service all of our current and planned indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness that may not be successful. Our ability to satisfy our debt obligations will depend upon, among other things: • our future financial and operating performance, which will be affected by prevailing economic conditions and financial, business, regulatory and other factors, many of which are beyond our control; and • our future ability to borrow under our revolving credit facility, the availability of which will depend on, among other things, our complying with the covenants in the then-existing agreements governing our indebtedness. We cannot assure you that our business will generate sufficient cash flow from operations, or that we will be able to draw under our revolving credit facility or otherwise, in an amount sufficient to fund our liquidity needs. If our cash flows and capital resources are insufficient to service our indebtedness, we may be forced to reduce or delay capital expenditures, sell assets, seek additional capital or restructure or refinance our indebtedness. These alternative measures may not be successful and may not permit us to meet our scheduled debt service obligations. Our ability to restructure or refinance our debt will depend on the condition of the capital markets and our financial condition at such time. Any refinancing of our debt could be at higher interest

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RLP 192 Table of Contents rates and may require us to comply with more onerous covenants, which could further restrict our business operations. In addition, the terms of existing or future debt agreements may restrict us from adopting some of these alternatives. In the absence of such operating results and resources, we could face substantial liquidity problems and might be required to dispose of material assets or operations, sell equity, and/or negotiate with our lenders to restructure the applicable debt, in order to meet our debt service and other obligations. We may not be able to consummate those dispositions for fair market value or at all. Our credit agreement and the indentures related to the Match Group Senior Notes may restrict, or market or business conditions may limit, our ability to avail ourselves of some or all of these options. Furthermore, any proceeds that we could realize from any such dispositions may not be adequate to meet our debt service obligations then due. Our debt agreements contain restrictions that will limit our flexibility in operating our business. Our credit agreement and the indentures related to the Match Group Senior Notes contain, and any instruments governing future indebtedness of ours would likely contain, a number of covenants that will impose significant operating and financial restrictions on us, including restrictions on our ability to, among other things: • create liens on certain assets; • incur additional debt; • make certain investments and acquisitions; • consolidate, merge, sell or otherwise dispose of all or substantially all of our assets; • sell certain assets; • pay dividends on or make distributions in respect of our capital stock or make restricted payments; • enter into certain transactions with our affiliates; and • place restrictions on distributions from subsidiaries. Any of these restrictions could limit our ability to plan for or react to market conditions and could otherwise restrict corporate activities. Any failure to comply with these covenants could result in a default under our credit agreement and/or the indentures related to the Match Group Senior Notes or any instruments governing future indebtedness of ours. Upon a default, unless waived, the lenders under our credit agreement could elect to terminate their commitments, cease making further loans, foreclose on our assets pledged to such lenders to secure our obligations under our credit agreement and force us into bankruptcy or liquidation. Holders of the Match Group Senior Notes also have the ability to force us into bankruptcy or liquidation in certain circumstances, subject to the terms of the related indentures. In addition, a default under our credit agreement or the indentures related to the Match Group Senior Notes may trigger a cross default under our other agreements and could trigger a cross default under the agreements governing our future indebtedness. Our operating results may not be sufficient to service our indebtedness or to fund our other expenditures and we may not be able to obtain financing to meet these requirements. Variable rate indebtedness that we have incurred or may incur under our credit agreement will subject us to interest rate risk, which could cause our debt service obligations to increase significantly. We currently have $260 million and $425 million of indebtedness outstanding under our revolving credit facility and term loan, respectively. Borrowings under the revolving credit facility and term loan are at variable rates of interest. Indebtedness that bears interest at variable rates exposes us to interest rate risk. Our revolving credit facility and term loan bear interest at LIBOR plus 1.50% and LIBOR plus 2.50%, respectively. As of December 31, 2018 , the rate in effect was 3.97% and 5.09% , respectively. If LIBOR were to increase or decrease by 100 basis points, then the annual interest and expense payments on the outstanding balance as of December 31, 2018 on the term loan and revolving credit facility would increase or decrease by $2.6 million and $4.3 million , respectively. See also “Item 7A—Quantitative and Qualitative Disclosures About Market Risk.”

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Risks related to ownership of our common stock

The multi-class structure of our capital stock has the effect of concentrating voting control with holders of our Class B common stock and limiting the ability of holders of our common stock to influence corporate matters. Our publicly held common stock has one vote per share and our Class B common stock has ten votes per share. As of February 1, 2019 , IAC owned all of the shares of our outstanding Class B common stock and 15,813,277 shares of our common stock, collectively representing approximately 81.1% of our outstanding shares of capital stock and approximately 97.6% of the combined voting power of our outstanding capital stock. Due to the ten-to-one voting ratio between our Class B common stock and common stock, the holders of our Class B common stock collectively will continue to control a majority of the combined voting power of our capital stock, even when the outstanding shares of Class B common stock represent a small minority of our outstanding capital stock, and such voting control will be concentrated with IAC. This concentrated control will significantly limit your ability to influence corporate matters. The difference in the voting rights of our common stock and our Class B common stock may harm the value and liquidity of our common stock. Holders of our Class B common stock are entitled to ten votes per share and holders of our common stock are entitled to one vote per share. The difference in the voting rights of our common stock and Class B common stock could harm the value of our common stock to the extent that any investor or potential future purchaser of our common stock ascribes value to the right of the holders of our Class B common stock to ten votes per share. The existence of two classes of common stock with different voting rights could result in less liquidity for either class of stock than if there were only one class of our common stock. The price of our common stock has been and may continue to be volatile or may decline regardless of our operating performance, and you could lose all or part of your investment. During 2018 , our common stock traded as high as $60.05 and as low as $31.40 and on February 27, 2019 , the closing price of our common stock was $55.78 . The market price of our common stock has been and may continue to be subject to wide fluctuations in response to various factors, many of which are beyond our control and may not be related to our operating performance. These fluctuations could cause you to lose part of your investment in our common stock since you might be unable to sell your shares at or above the price you paid. Factors that could cause fluctuations in the market price of our common stock include the following: • price and volume fluctuations in the overall stock market from time to time; • volatility in the market prices and trading volumes of technology stocks generally, or those in our industry in particular; • changes in operating performance and stock market valuations of other technology companies generally, or those in our industry in particular; • volatility in the market price of our common stock due to the limited number of shares of our common stock held by the public; • sales of shares of our stock by us and/or our directors, executive officers, employees and stockholders; • the failure of securities analysts to maintain coverage of us, changes in financial estimates by securities analysts who follow our company or our failure to meet these estimates or the expectations of investors; • the financial projections we may provide to the public, and any changes in those projections or our failure to meet those projections; • announcements by us or our competitors of new brands, products or services; • the public’s reaction to our earnings releases, other public announcements and filings with the SEC; • rumors and market speculation involving us or other companies in our industry; • actual or anticipated changes in our operating results or fluctuations in our operating results; • actual or anticipated developments in our business, our competitors’ businesses or the competitive landscape generally;

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• litigation involving us, our industry or both, or investigations by regulators into our operations or those of our competitors; • developments or disputes concerning our intellectual property or other proprietary rights; • announced or completed acquisitions of businesses or technologies by us or our competitors; • new laws or regulations or new interpretations of (or changes to) existing laws or regulations applicable to our business; • changes in accounting standards, policies, guidelines, interpretations or principles; • any significant change in our management; and • general economic conditions and slow or negative growth in any of our significant markets. In addition, in the past, following periods of volatility in the overall market and the market price of a particular company’s securities, securities class action litigation has often been instituted against these companies. We currently are, and in the future may be, the target of this type of litigation. See “Item 3—Legal Proceedings.” Securities litigation against us could result in substantial costs and a diversion of our management’s attention and resources. You may experience dilution due to the issuance of additional securities in the future . Our dilutive securities consist of vested and unvested options to purchase shares of our common stock, restricted stock unit awards, shares of our common stock issuable to IAC as reimbursement for the cost of vested and unvested IAC equity awards held by our employees and stock appreciation rights settled in IAC stock. These dilutive securities are reflected in our share calculations underlying our dilutive earnings per share calculation contained in our financial statements for fiscal years ended December 31, 2018 , 2017 and 2016 . For more information, see “ Note 10—Earnings per Share ” to the consolidated financial statements included in “Item 8—Consolidated Financial Statements and Supplementary Data.” Intra-quarter movements in our stock price, could lead to more or less dilution than reflected in these calculations. At the option of IAC, the shares Match Group issues in connection with former subsidiary equity awards, which were converted into Match Group equity awards in 2017, will either be issued to holders of such awards or to IAC. In the event they are issued to IAC, IAC would in turn provide the equity holders with IAC shares of equivalent value to the Match Group shares issued to it. In cases where Match Group shares are issued directly to equity holders, recipients may sell such stock into the open market. If sales are significant and concentrated, these sales could have a temporary impact on the trading value of our stock. Our quarterly results or operating metrics could fluctuate significantly, which could cause the trading price of our common stock to decline. Our quarterly results and operating metrics have fluctuated historically, and we expect that they could continue to fluctuate in the future as a result of a number of factors, many of which are outside of our control and may be difficult to predict, including: • the timing, size and effectiveness of our marketing efforts; • fluctuations in the rate at which we attract new users, the level of engagement of such users and the propensity of such users to subscribe to our brands or to purchase à la carte features; • increases or decreases in our revenues and expenses caused by fluctuations in foreign currency exchange rates; • the timing, size and effectiveness of non-marketing operating expenses that we may incur to grow and expand our operations, develop new products and remain competitive; • the performance, reliability and availability of our technology, network systems and infrastructure and data centers; • operational and financial risks we may experience in connection with historical and potential future acquisitions and investments; and

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• general economic conditions in either domestic or international markets. The occurrence of any one of these factors, as well as other factors, or the cumulative effect of the occurrence of one or more of such factors could cause our quarterly results and operating metrics to fluctuate significantly. As a result, quarterly comparisons of results and operating metrics may not be meaningful. In addition, the variability and unpredictability of our quarterly results or operating metrics could result in our failure to meet our expectations, or those of any of our investors or of analysts that cover our company, with respect to revenues or other operating results for a particular period. If we fail to meet or exceed such expectations for these or any other reasons, the market price of our common stock could fall substantially. We do not expect to declare any regular cash dividends in the foreseeable future. We paid a special cash dividend in December 2018; however, we have no current plans to pay cash dividends on our common stock and Class B common stock. Instead, we anticipate that all of our future earnings will be retained to support our operations and to finance the growth and development of our business. Any future determination relating to our dividend policy will be made by our board of directors and will depend on a number of factors, including: • our historic and projected financial condition, liquidity and results of operations; • our capital levels and needs; • tax considerations; • any acquisitions or potential acquisitions that we may consider; • statutory and regulatory prohibitions and other limitations; • the terms of any credit agreements or other borrowing arrangements that restrict our ability to pay cash dividends, including the Match Group Credit Agreement and the indenture relating to the Match Group Senior Notes; • general economic conditions; and • other factors deemed relevant by our board of directors. We are not obligated to pay dividends on our common stock or Class B common stock. Consequently, investors may need to rely on sales of their common stock after price appreciation, which may never occur, as the only way to realize any future gains on their investment. Investors seeking regular cash dividends should not purchase our common stock. Provisions in our certificate of incorporation and bylaws or Delaware law may discourage, delay or prevent a change of control of our company or changes in our management and, therefore, depress the trading price of our common stock. Delaware corporate law and our certificate of incorporation and bylaws contain provisions that could discourage, delay or prevent a change in control of our company or changes in our management that the stockholders of our company may deem advantageous, including provisions which: • authorize the issuance of “blank check” preferred stock that our board could issue to increase the number of outstanding shares and to discourage a takeover attempt; • limit the ability of our stockholders to call special meetings of stockholders; • provide that certain litigation against us can only be brought in Delaware; and • provide that the board of directors is expressly authorized to make, alter or repeal our bylaws. Any provision of our certificate of incorporation, our bylaws or Delaware law that has the effect of delaying or deterring a change in control could limit the opportunity for our stockholders to receive a premium for their shares of our common stock, and could also affect the price that some investors are willing to pay for our common stock.

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RLP 196 Item 1B. Unresolved Staff Comments None.

Item 2. Properties Match Group’s corporate headquarters consists of approximately 73,000 square feet of office space in Dallas, Texas. This office space, which also houses offices for the Match and Match Affinity brands, is leased pursuant to a lease agreement that expires on March 31, 2027. We do not own any real property. The facilities for our various businesses, which we lease (in some cases, from IAC) both in the United States and abroad, consist of executive and administrative offices and data centers. We lease space in five data centers: three for our North American, Latin American and Asian operations (one in Dallas, Texas, one in Waco, Texas and one in Vancouver, British Columbia), and two for our European operations (one in Paris, France and another in Zaventem, Belgium). We believe that our current facilities are adequate to meet our ongoing needs. We also believe that, if we require additional space, we will be able to lease additional facilities on commercially reasonable terms.

Item 3. Legal Proceedings Overview We are, and from time to time may become, involved in various legal proceedings arising in the normal course of our business activities, such as patent infringement claims, trademark oppositions and consumer or advertising complaints, as well as stockholder derivative actions, class action lawsuits and other matters. The amounts that may be recovered in such matters may be subject to insurance coverage. The litigation matters described below involve issues or claims that may be of particular interest to our stockholders, regardless of whether any of these matters may be material to our financial position or results of operations based upon the standard set forth in the SEC’s rules. Consumer Class Action Challenging Tinder’s Age-Tiered Pricing On May 28, 2015, a putative state-wide class action was filed against Tinder in state court in California. See Allan Candelore v. Tinder, Inc. , No. BC583162 (Superior Court of California, County of Los Angeles). The complaint principally alleged that Tinder violated California’s Unruh Civil Rights Act by offering and charging users age 30 and over a higher price than younger users for subscriptions to its premium Tinder Plus service. The complaint sought certification of a class of California Tinder Plus subscribers age 30 and over and damages in an unspecified amount. On September 21, 2015, Tinder filed a demurrer seeking dismissal of the complaint. On October 26, 2015, the court issued an opinion sustaining Tinder’s demurrer to the complaint without leave to amend, ruling that the age- based pricing differential for Tinder Plus subscriptions did not violate California law in essence because offering a discount to users under age 30 was neither invidious nor unreasonable in light of that age group’s generally more limited financial means. On December 29, 2015, in accordance with its ruling, the court entered judgment dismissing the action. On February 1, 2016, the plaintiff filed a notice of appeal from the judgment, and the parties thereafter briefed the appeal. On January 29, 2018, the California Court of Appeal (Second Appellate District, Division Three) issued an opinion reversing the judgment of dismissal, ruling that the lower court had erred in sustaining Tinder’s demurrer because the complaint, as pleaded, stated a cognizable claim for violation of the Unruh Act. Because we believe that the appellate court’s reasoning was flawed as a matter of law and runs afoul of binding California precedent, on March 12, 2018, Tinder filed a petition with the California Supreme Court seeking interlocutory review of the Court of Appeal’s decision. On May 9, 2018, the California Supreme Court denied the petition. The case has been returned to the trial court for further proceedings and is currently in discovery. We believe that the allegations in this lawsuit are without merit and will continue to defend vigorously against it. Bumble Claims against Match Group, LLC On March 28, 2018, Bumble and its parent company filed a lawsuit against Match Group, LLC (“Match”) in state court in Texas. See Bumble Trading, Inc. and Bumble Holding, Ltd. v. Match Group, LLC , No. DC-18-04140 (160th Judicial District Court of Texas, County of Dallas). The petition alleged that Match wrongfully obtained confidential information from the plaintiffs in connection with a potential Bumble sale process and filed an intellectual property lawsuit against Bumble in bad faith to undermine that process. The petition asserts claims for

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RLP 197 Table of Contents tortious interference with business relationships, fraud, misappropriation of trade secrets, unfair competition, promissory estoppel, and disparagement. The petition seeks damages in excess of $400 million and an injunction against interference with the plaintiffs’ prospective business relationships or use of their confidential information. On September 26, 2018, Match filed its answer and counterclaims, a notice of removal of the case to the U.S. District Court for the Northern District of Texas, and a motion to transfer the case to the U.S. District Court for the Western District of Texas, where Match’s intellectual property lawsuit against Bumble is pending. On October 18, 2018, Bumble filed a motion to dismiss its own petition without prejudice. On November 1, 2018, Match opposed the motion as an attempt to circumvent the federal court’s jurisdiction and also amended its counterclaims to seek declaratory judgments of non-liability on the claims asserted in Bumble’s petition. On November 15, 2018, Bumble filed a motion to dismiss those counterclaims, which motion Match has opposed. On November 29, 2018, the court granted Match’s motion to transfer the case to the Western District of Texas. On January 15, 2019, Bumble filed a motion for leave to file another petition, this one against Match and IAC/InterActiveCorp, in state court in Dallas County. Bumble’s proposed claims are for fraud, negligent misrepresentation, unfair competition, promissory estoppel, and interference with prospective business relations and are based upon the allegation that Match and IAC misled Bumble in its sale process by falsely representing they would make a higher offer to purchase Bumble. On January 22, 2019, Match filed its opposition to Bumble’s motion for leave. In response to Match’s original intellectual property lawsuit (18-cv-80), Bumble also answered and counterclaimed on January 25, 2019. Bumble’s counterclaims ask the district court to cancel Match’s trademark registration for its SWIPE trademark and to deny registration of a number of pending applications for which Match seeks trademark registration. On February 15, 2019, Bumble amended those counterclaims to also seek declarations that Bumble does not infringe the patents asserted in Match’s complaint and that those patents are invalid. We believe that the plaintiffs’ allegations in both the pending and the proposed lawsuits are without merit and will continue to vigorously defend against them. Tinder Optionholder Litigation against IAC and Match Group On August 14, 2018, ten then-current and former employees of Match Group, LLC or Tinder, Inc. (“Tinder”), an operating business of Match Group, filed a lawsuit in New York state court against IAC and Match Group. See Sean Rad et al. v. IAC/InterActiveCorp and Match Group, Inc. , No. 654038/2018 (Supreme Court, New York County). The complaint alleges that in 2017, the defendants: (i) wrongfully interfered with a contractually established process for the independent valuation of Tinder by certain investment banks, resulting in a substantial undervaluation of Tinder and a consequent underpayment to the plaintiffs upon exercise of their Tinder stock options, and (ii) then wrongfully merged Tinder into Match Group, thereby depriving one of the plaintiffs (Mr. Rad) of his contractual right to later valuations of Tinder on a stand-alone basis. The complaint asserts claims for breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, interference with contractual relations (as against Match Group only), and interference with prospective economic advantage, and seeks compensatory damages in the amount of at least $2 billion, as well as punitive damages. On August 31, 2018, four plaintiffs who were still employed by Match Group filed a notice of discontinuance of their claims without prejudice, leaving the six former employees as the remaining plaintiffs. On October 9, 2018, the defendants filed a motion to dismiss the complaint on various grounds, including that the 2017 valuation of Tinder by the investment banks was an expert determination any challenge to which is both time-barred under applicable law and available only on narrow substantive grounds that the plaintiffs have not pleaded in their complaint. On December 17, 2018, Plaintiffs filed their opposition to the motion to dismiss. On January 15, 2019, the defendants filed their reply brief. A hearing on the motion is scheduled for March 6, 2019, and discovery in the case is proceeding. IAC and Match Group believe that the allegations in this lawsuit are without merit and will continue to defend vigorously against it. FTC Investigation of Certain Match.com Business Practices In March 2017, the Federal Trade Commission (“FTC”) requested information and documents in connection with a civil investigation regarding certain business practices of Match.com. In November 2018, the FTC proposed to resolve its potential claims relating to Match.com’s marketing, chargeback and online cancellation practices via a consent judgment mandating certain changes in the company’s business practices, as well as a payment in the amount of $60 million. Match Group believes that the FTC’s legal challenges to Match.com’s practices, policies, and procedures are without merit and is prepared to vigorously defend against them. Item 4. Mine Safety Disclosure Not applicable.

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PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market for Registrant’s Common Equity and Related Stockholder Matters

Our common stock is quoted on the Nasdaq Global Select Market (“NASDAQ”) under the ticker symbol “MTCH.” There is no established public trading market for our Class B common stock. As of February 27, 2019 , the closing price of our common stock on NASDAQ was $55.78 . As of February 1, 2019, there were 22 holders of record of the Company’s common stock and one holder of record of the Company’s Class B common stock. Because the substantial majority of the outstanding shares of our common stock are held by brokers and other institutions on behalf of shareholders, we are not able to estimate the total number of beneficial shareholders represented by these record holders. Unregistered Sales of Equity Securities Under the terms of the Employee Matters Agreement dated as of November 24, 2015, by and between IAC/InterActiveCorp (“IAC”) and Match Group, Inc. (the “Company”), as amended effective as of April 13, 2016 (the “Employee Matters Agreement”), IAC may cause certain equity awards of the Company to be settled in shares of IAC common stock, par value $0.001 (“IAC Common Stock”) and cause the Company to reimburse IAC for the cost of such shares of IAC Common Stock by issuing shares of Company common stock, par value $0.001 (“Company Common Stock”) to IAC. The Employee Matters Agreement also provides that the Company will reimburse IAC for the cost of any IAC equity awards held by the Company’s employees and former employees and that IAC may elect to receive payment either in cash or Company Common Stock. On December 31, 2018, 94,351 shares of Company Common Stock were issued to IAC as reimbursement for shares of IAC Common Stock issued in connection with the exercise of IAC stock options held by Match Group employees. On December 3, 2018 and December 31, 2018, 306,131 and 15,294 shares, respectively, of Company Common Stock were issued to IAC as reimbursement for shares of IAC Common Stock issued in connection with the exercise and settlement of equity shares of a subsidiary of the Company pursuant to the Employee Matters Agreement. The issuances of Company Common Stock described above did not involve any underwriters or public offerings and the Company believes that such issuances were exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) of such act. Issuer Purchases of Equity Securities The following table sets forth purchases by the Company of its common stock during the quarter ended December 31, 2018 :

(c) (d) (a) (b) Total Number of Shares Purchased as Part Maximum Number of Shares that May Yet Total Number of Shares Average Price Paid Per Be Purchased Under Publicly Announced of Publicly Announced Plans or Programs (2) Period Purchased Share (1) Plans or Programs October 2018 369,658 $ 50.41 369,658 3,617,742 November 2018 670,266 $ 42.64 670,266 2,947,476 December 2018 — $ — — 2,947,476 Total 1,039,924 $ 45.40 1,039,924 2,947,476 ______

(1) Reflects repurchases made pursuant to the 6 million share repurchase authorization previously announced in May 2017, which has no expiration.

(2) Represents the total number of shares of common stock that remained available for repurchase pursuant to the May 2017 repurchase authorization. The timing and actual number of any shares repurchased will

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depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. The Company is not obligated to purchase any shares under the repurchase program, and repurchases may be commenced, suspended or discontinued from time to time without prior notice.

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Item 6. Selected Financial Data The selected financial data set forth in the table below as of December 31, 2018, 2017, 2016, and 2015 and for the years then ended were derived from our audited consolidated and combined financial statements. The selected financial data set forth in the table below as of December 31, 2014 and for the year then ended were derived from our audited combined financial statements. This selected financial data should be read in conjunction with the consolidated financial statements and accompanying notes included herein.

Years Ended December 31, 2018 2017 2016 2015 2014 (Dollars in thousands, except per share data) Statement of Operations Data: Revenue $ 1,729,850 $ 1,330,661 $ 1,118,110 $ 909,705 $ 836,458 Earnings from continuing operations 472,969 355,977 178,341 133,163 165,091 Loss from discontinued operations (378) (5,650) (6,328) (12,676) (16,732) Net earnings attributable to Match Group, Inc. shareholders 477,939 350,148 171,451 120,383 147,764 Earnings per share from continuing operations attributable to Match Group, Inc. shareholders: Basic $ 1.73 $ 1.35 $ 0.71 $ 0.76 $ 1.02 Diluted $ 1.61 $ 1.20 $ 0.66 $ 0.72 $ 0.98 Earnings per share attributable to Match Group, Inc. shareholders: Basic $ 1.73 $ 1.33 $ 0.68 $ 0.69 $ 0.92 Diluted $ 1.61 $ 1.18 $ 0.64 $ 0.65 $ 0.88

Dividend declared per share $ 2.00 $ — $ — $ — $ —

December 31, 2018 2017 2016 2015 2014 (In thousands) Balance Sheet Data: Total assets $ 2,053,061 $ 2,130,146 $ 2,048,678 $ 1,909,392 $ 1,302,109 Long-term debt, net including current maturities 1,515,911 1,252,696 1,176,493 1,216,871 — Long-term debt, related party — — — — 190,586

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Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Key Terms:

Operating metrics: • North America - consists of the financial results and metrics associated with users located in the United States and Canada. • International - consists of the financial results and metrics associated with users located outside of the United States and Canada. • Direct Revenue - is revenue that is received directly from end users of our products and includes both subscription and à la carte revenue. • Indirect Revenue - is revenue that is not received directly from an end user of our products, substantially all of which is advertising revenue. • Subscribers - are users who purchase a subscription to one of our products. Users who purchase only à la carte features are not included in Subscribers. • Average Subscribers - is the number of Subscribers at the end of each day in the relevant measurement period divided by the number of calendar days in that period. • Average Revenue per Subscriber (“ARPU”) - is Direct Revenue from Subscribers in the relevant measurement period (whether in the form of subscription or à la carte revenue) divided by the Average Subscribers in such period and further divided by the number of calendar days in such period. Direct Revenue from users who are not Subscribers and have purchased only à la carte features is not included in ARPU. Operating costs and expenses: • Cost of revenue - consists primarily of the amortization of in-app purchase fees, compensation expense (including stock-based compensation expense) and other employee-related costs for personnel engaged in data center and customer care functions, credit card processing fees, hosting fees, and data center rent, energy and bandwidth costs. In-app purchase fees are monies paid to Apple and Google in connection with the processing of in-app purchases of subscriptions and product features through the in-app payment systems provided by Apple and Google. • Selling and marketing expense - consists primarily of advertising expenditures and compensation expense (including stock-based compensation expense) and other employee-related costs for personnel engaged in selling and marketing, and sales support functions. Advertising expenditures includes online marketing, including fees paid to search engines and social media sites, offline marketing (which is primarily television advertising), and payments to partners that direct traffic to our brands. • General and administrative expense - consists primarily of compensation expense (including stock-based compensation expense) and other employee- related costs for personnel engaged in executive management, finance, legal, tax and human resources, acquisition-related contingent consideration fair value adjustments (described below), fees for professional services (including transaction-related costs for acquisitions) and facilities costs. • Product development expense - consists primarily of compensation expense (including stock-based compensation expense) and other employee-related costs that are not capitalized for personnel engaged in the design, development, testing and enhancement of product offerings and related technology. • Acquisition-related contingent consideration fair value adjustments - relate to the portion of the purchase price of certain acquisitions that is contingent upon the future earnings performance and/or operating metrics of the acquired company. The fair value of the liability is estimated at the date of acquisition and adjusted each reporting period until the liability is settled. Significant changes in forecasted earnings and/or operating metrics will result in a significantly higher or lower fair value measurement. The changes in the estimated fair value of the contingent consideration arrangements during each reporting period, including the accretion of the discount if the arrangement is longer than

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one year, are recognized in “General and administrative expense” in the accompanying consolidated statement of operations. Long-term debt: • Credit Facility - On December 7, 2018, the Company’s $500 million revolving credit facility was amended to, among other things, modify the leverage ratio levels in the pricing grid used to calculate the applicable rate and extend its maturity to December 7, 2023. The Credit Facility currently bears interest at LIBOR plus 1.50%, based on a pricing grid included in the credit agreement. At December 31, 2018 , $260 million is outstanding. • Term Loan - The Company’s seven-year term loan due November 16, 2022. The Term Loan bears interest at LIBOR plus 2.50% and has a LIBOR floor of 0.00%. At December 31, 2018 , $425 million is outstanding. • 6.75% Senior Notes - The Company’s previously outstanding 6.75% Senior Notes issued on November 16, 2015 which were redeemed in full on December 17, 2017 using the proceeds from the 5.00% Senior Notes and cash on hand. • 6.375% Senior Notes - The Company’s 6.375% Senior Notes due June 1, 2024, with interest payable each June 1 and December 1, which were issued on June 1, 2016. The proceeds were used to prepay a portion of the indebtedness outstanding under the Term Loan. At December 31, 2018 , $400 million is outstanding. • 5.00% Senior Notes - The Company’s 5.00% Senior Notes due December 15, 2027, with interest payable each June 15 and December 15, which were issued on December 4, 2017. The proceeds, along with cash on hand, were used to redeem the 6.75% Senior Notes and pay the related call premium. At December 31, 2018 , $450 million is outstanding. • 5.625% Senior Notes - The Company’s 5.625% Senior Notes due February 15, 2029, with interest payable each February 15 and August 15, commencing on August 15, 2019, which were issued on February 15, 2019. The proceeds were used to repay outstanding borrowings under our Credit Facility, to pay expenses associated with the offering, and for general corporate purposes. Non-GAAP financial measure: • Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) - is a Non-GAAP financial measure. See “Principles of Financial Reporting” for the definition of Adjusted EBITDA and a reconciliation of net earnings attributable to Match Group, Inc. shareholders to operating income and Adjusted EBITDA for the years ended December 31, 2018 , 2017 , and 2016 .

MANAGEMENT OVERVIEW Match Group is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. Sources of Revenue All our products provide the use of certain features for free, and then offer a variety of additional features to Subscribers. Our revenue is primarily derived directly from users in the form of recurring subscription fees. Subscription revenue is presented net of credits and credit card chargebacks. Subscribers pay in advance, primarily by using a credit card or through mobile app stores, and, subject to certain conditions identified in our terms and conditions, all purchases are final and nonrefundable. Fees collected, or contractually due, in advance for subscriptions are deferred and recognized as revenue using the straight-line method over the term of the applicable subscription period, which primarily ranges from one to six months, and corresponding mobile app store fees incurred on such transactions, if any, are deferred and expensed over the same period. We also earn revenue from online advertising, the purchase of à la carte features and offline events. Online advertising revenue is recognized every time an ad is displayed. Revenue from the purchase of à la carte features is recognized based

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RLP 203 Table of Contents on usage. Revenue and the related expenses associated with offline events are recognized when each event occurs. Trends affecting our business Over the last several years, we have seen significant changes in our business. Tinder has grown from incubation to the largest contributing brand in our portfolio and our other brands remain generally stable in the aggregate. This in turn has allowed us to invest in or acquire brands such as Hinge and incubate new brands such as Chispa, BLK, and Ship, where we see significant potential future growth opportunities. With our evolving portfolio of brands, we have seen a number of significant trends in our business including the following: Lower cost users. All of our brands rely on word-of-mouth, or free, customer acquisition to varying degrees. Word-of-mouth acquisition is typically a function of scale (with larger communities driving greater numbers of referrals), youthfulness (with the viral effect being more pronounced in younger populations due, in part, to a significantly higher concentration of single people in any given social circle and the increased adoption of social media and similar platforms among such populations) and monetization rate (with people generally more likely to talk openly about using online dating products that are less heavily monetized). Additionally, some, but not all, of our brands spend meaningfully on paid marketing. Accordingly, the average amount we spend to acquire a user differs significantly across brands based in large part on each brand’s mix of paid and free acquisition channels. As our mix has shifted toward younger users, our mix of acquisition channels has shifted toward free channels, driving a significant decline over the past several years in the average amount we spend to acquire a new user across our portfolio. As a percentage of revenue, our costs of acquiring Subscribers have declined. We expect the dynamics that have led to the growth in word-of-mouth user acquisition to continue going forward and for our brands to continue to acquire significant numbers of users through low-cost means. Changing paid acquisition dynamics. Even as our acquisition of lower cost users increases, paid acquisition of users remains an important driver of our business. The channels through which we market our brands are always evolving, but we are currently in a period of rapid change as TV and video consumption patterns evolve and internet consumption occurs regularly on mobile devices. As we adapt our paid marketing activities to maximize user engagement with our brands, we may increase our use of paid advertising at brands where we traditionally relied on word-of-mouth engagement to leverage these shifts in media consumption patterns and fuel international growth. Other brands in our portfolio may reduce paid marketing activities to reflect the change in audience engagement. Increase in acceptance and growth of dating products globally. Similar to the recent growth in dating product usage in North America and Western Europe, we see the potential for similar growth in the rest of the world. As more internet-connected singles utilize online dating products and the stigma around online dating continues to erode, we believe that there is potential for accelerating growth in the use of dating products globally.

Other factors affecting the comparability of our results Advertising spend. Our advertising spend, which is included in our selling and marketing expense, has consistently been our largest operating expense. Generally, we focus our advertising spend on display, mobile, television, social media and search channels. We seek to optimize for total return on advertising spend by frequently analyzing and adjusting this spend to focus on marketing channels and markets that generate a high return. Our data-driven approach provides us the flexibility to scale and optimize our advertising spend. We spend marketing dollars against an expected lifetime value of a Subscriber that is realized by us over a multi-year period; and while this marketing is intended to be profitable on that basis, it is nearly always negative during the period in which the expense is incurred. Accordingly, our operating results, in particular our profit measures, for a particular period may be meaningfully impacted by the timing, size, number or effectiveness of our advertising campaigns in that period. Additionally, advertising spend is typically higher during the first quarter of our fiscal year, and lower during the fourth quarter. See “Seasonality” below. Seasonality. Historically, our business has experienced seasonal fluctuations in quarterly operating results, particularly with respect to our profit measurements. This is driven primarily by a higher concentration of advertising spend in the first quarter, when advertising prices are lowest and demand for our products is highest, and a lower concentration of advertising spend in the fourth quarter, when advertising costs are highest and demand for our products is lowest.

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International markets. Our products are available across the world. Our international revenue represented 50% and 46% of our total revenue for the years ended December 31, 2018 and 2017 , respectively. We vary our pricing to align with local market conditions and our international businesses typically earn revenue in local currencies. As foreign currency exchange rates change, translation of the statement of operations of our international businesses into U.S. dollars affects year-over-year comparability of operating results.

2018 Developments On December 7, 2018, we amended the Company’s credit agreement to extend the maturity date of the Credit Facility to December 7, 2023 and modify the leverage ratio levels in the pricing grid used to calculate the applicable interest rate under the Credit Facility. On December 19, 2018, we paid a special dividend of $2.00 per share on Match Group common stock and Class B common stock, to stockholders of record as of the close of business on December 5, 2018, in the aggregate amount equal to $556.4 million, which was funded with cash on hand and borrowings under the Credit Facility.

2018 Consolidated Results In 2018 , revenue, operating income and Adjusted EBITDA grew 30% , 53% and 39% , respectively. Revenue growth was primarily due to strong growth at Tinder and additional contributions from certain other brands. The growth in operating income and Adjusted EBITDA was due to higher revenue and lower selling and marketing expense as a percentage of revenue due to the continued product mix shift toward brands with lower marketing spend as a percentage of revenue, partially offset by an increase in cost of revenue expense primarily due to higher in-app purchase fees as a result of growing revenue from mobile app stores.

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Results of Operations for the years ended December 31, 2018 , 2017 and 2016

Revenue

Years Ended December 31, 2018 $ Change % Change 2017 $ Change % Change 2016 (Amounts in thousands, except ARPU) Direct Revenue: North America $ 902,478 $ 161,144 22% $ 741,334 $ 67,390 10% $ 673,944 International 774,693 234,778 43% 539,915 146,495 37% 393,420 Total Direct Revenue 1,677,171 395,922 31% 1,281,249 213,885 20% 1,067,364 Indirect Revenue 52,679 3,267 7% 49,412 (1,334) (3)% 50,746 Total Revenue $ 1,729,850 $ 399,189 30% $ 1,330,661 $ 212,551 19% $ 1,118,110

Direct Revenue Tinder $ 805,316 $ 402,100 100% $ 403,216 $ 234,694 139% $ 168,522 Other brands 871,855 (6,178) (1)% 878,033 (20,809) (2)% 898,842 Total Direct Revenue $ 1,677,171 $ 395,922 31% $ 1,281,249 $ 213,885 20% $ 1,067,364

Percentage of Total Revenue: Direct Revenue: North America 52% 56% 60% International 45% 40% 35% Total Direct Revenue 97% 96% 95% Indirect Revenue 3% 4% 5% Total Revenue 100% 100% 100%

Average Subscribers: North America 4,161 592 17% 3,569 301 9% 3,268 International 3,712 873 31% 2,839 699 33% 2,140 Total 7,873 1,465 23% 6,408 1,000 18% 5,408

(Change calculated using non-rounded numbers) ARPU: North America $ 0.59 4% $ 0.56 —% $ 0.56 International $ 0.56 10% $ 0.51 3% $ 0.50 Total $ 0.57 $ 0.03 6% $ 0.54 $ — 1% $ 0.54

For the year ended December 31, 2018 compared to the year ended December 31, 2017

International Direct Revenue grew $234.8 million , or 43% , in 2018 versus 2017 , driven by 31% growth in Average Subscribers, and a 10% increase in ARPU. North America Direct Revenue grew $161.1 million , or 22% , in 2018 versus 2017 , driven by 17% growth in Average Subscribers, and a 4% increase in ARPU. Growth in International and North America Average Subscribers was primarily driven by Tinder. International and North America ARPU increased primarily due to increases in ARPU at Tinder as Subscribers purchased premium subscriptions, such as Tinder Gold, as well as additional à la carte features. Indirect Revenue increased $3.3 million primarily due to increased advertising revenue at Tinder, partially offset by lower impressions at brands excluding Tinder.

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For the year ended December 31, 2017 compared to the year ended December 31, 2016

North America Direct Revenue grew $67.4 million, or 10%, in 2017 versus 2016 , driven by 9% growth in Average Subscribers. International Direct Revenue grew $146.5 million, or 37%, in 2017 versus 2016 , driven by 33% growth in Average Subscribers and a 3% increase in ARPU. Growth in North America Average Subscribers was primarily due to Tinder, partially offset by declines at our Match Affinity brands as marketing spend was reduced to better align with the expected lifetime value of a Subscriber. North America ARPU was flat as the continuing mix shift towards lower ARPU brands with lower price points compared to most of our other brands, was offset by increases in ARPU at Tinder and PlentyOfFish, as these brands are offering premium and multi-tiered subscriptions, such as Tinder Gold. Growth in International Average Subscribers was primarily due to Tinder and additional contributions from Pairs. Growth in International ARPU was primarily due to rate increases at Tinder and Meetic, partially offset by the continued mix shift towards lower ARPU brands.

Cost of revenue (exclusive of depreciation)

Years Ended December 31, 2018 $ Change % Change 2017 $ Change % Change 2016 (Dollars in thousands) Cost of revenue $410,000 $130,501 47% $279,499 $83,851 43% $195,648 Percentage of revenue 24% 21% 17%

For the year ended December 31, 2018 compared to the year ended December 31, 2017

Cost of revenue increased due primarily to an increase in in-app purchase fees of $123.8 million as our revenues are increasingly sourced through mobile app stores. For the year ended December 31, 2017 compared to the year ended December 31, 2016

Cost of revenue increased, outpacing revenue growth, primarily due to an increase in in-app purchase fees of $75.4 million and an increase in hosting fees of $5.9 million, both as a result of growth at Tinder.

Selling and marketing expense

Years Ended December 31, 2018 $ Change % Change 2017 $ Change % Change 2016 (Dollars in thousands) Selling and marketing expense $419,954 $44,344 12% $375,610 $26,491 8% $349,119 Percentage of revenue 24% 28% 31%

For the year ended December 31, 2018 compared to the year ended December 31, 2017

Selling and marketing expense increased in total but declined as a percentage of revenue. The increase in selling and marketing expense is primarily due to $45.6 million of increased marketing expense as a result of marketing initiatives at Tinder, Pairs, PlentyOfFish, OkCupid, and Meetic and the acquisition of Hinge, partially offset by lower offline marketing spend at Match and Match Affinity brands. For the year ended December 31, 2017 compared to the year ended December 31, 2016

Selling and marketing expense increased with the growth in the business but continued to decline as a percentage of revenue. The increase in total selling and marketing expense is primarily due to an increase of $15.3 million in marketing spend primarily at Tinder related to strategic investments in certain international markets and increased marketing related to the launch of a new brand in Europe, partially offset by a reduction in marketing spend at our Match Affinity brands. Additionally, compensation increased $9.1 million primarily related to increased headcount at Tinder and the employer portion of payroll taxes paid upon the exercise of Match Group options. The decline as a percentage of revenue is due to a continued shift towards brands with lower marketing spend as a percentage of revenue and reductions in marketing spend at our Match Affinity brands.

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General and administrative expense

Years Ended December 31, 2018 $ Change % Change 2017 $ Change % Change 2016 (Dollars in thousands) General and administrative expense $180,286 $482 —% $179,804 $44,785 33% $135,019 Percentage of revenue 10% 14% 12%

For the year ended December 31, 2018 compared to the year ended December 31, 2017

General and administrative expense increased, driven primarily by an increase of $6.9 million in compensation expense, excluding stock-based compensation expense, primarily due to an increase in headcount, an increase in professional fees of $3.7 million primarily related to increased litigation costs, and an increase in other miscellaneous expenses of $5.9 million. Partially offsetting these increases is a decrease of $10.5 million in stock-based compensation expense due primarily to a decrease in expense related to a subsidiary denominated equity award issued to a non-employee (which was settled in 2017) and a decrease in acquisition- related contingent consideration expense of $4.9 million. For the year ended December 31, 2017 compared to the year ended December 31, 2016

General and administrative expense increased, driven primarily by an increase of $20.6 million in compensation, an increase of $14.5 million in acquisition- related contingent consideration fair value adjustments (expense of $5.3 million in 2017 versus income of $9.2 million in 2016) and an increase of $6.8 million in professional fees in 2017 primarily related to the settlement of the Tinder equity plan. The increase in compensation expense is due to a $9.1 million increase in stock-based compensation expense primarily related to a subsidiary denominated equity award held by a non-employee, which was settled in the third quarter of 2017, the employer portion of payroll taxes paid upon the exercise of Match Group options and an increase in headcount from business growth.

Product development expense

Years Ended December 31, 2018 $ Change % Change 2017 $ Change % Change 2016 (Dollars in thousands) Product development expense $132,030 $30,880 31% $101,150 $23,033 29% $78,117 Percentage of revenue 8% 8% 7%

For the year ended December 31, 2018 compared to the year ended December 31, 2017

Product development expense increased, driven primarily by an increase of $28.8 million in compensation expense primarily related to higher headcount at Tinder. For the year ended December 31, 2017 compared to the year ended December 31, 2016

Product development expense increased, driven primarily by an increase of $20.7 million in compensation expense, of which $14.4 million relates primarily to 1) higher headcount and 2) the employer portion of payroll taxes paid upon the exercise of Match Group options and $6.3 million of stock-based compensation expense due primarily to new grants issued since 2016.

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Depreciation

Years Ended December 31, 2018 $ Change % Change 2017 $ Change % Change 2016 (Dollars in thousands) Depreciation $32,968 $355 1% $32,613 $4,887 18% $27,726 Percentage of revenue 2% 2% 2%

For the year ended December 31, 2018 compared to the year ended December 31, 2017

Depreciation was relatively flat during the period increasing $0.4 million , or 1% . For the year ended December 31, 2017 compared to the year ended December 31, 2016

Depreciation increased $4.9 million , or 18% , driven by an increase in computer hardware, internally developed software and leasehold improvements.

Operating Income and Adjusted EBITDA

Years Ended December 31, 2018 $ Change % Change 2017 $ Change % Change 2016 (Dollars in thousands) Operating income $553,294 $192,777 53% $360,517 $44,968 14% $315,549 Percentage of revenue 32% 27% 28%

Adjusted EBITDA $653,931 $184,990 39% $468,941 $65,561 16% $403,380 Percentage of revenue 38% 35% 36%

For a reconciliation of net earnings attributable to Match Group, Inc. shareholders to operating income and Adjusted EBITDA, see “Principles of Financial Reporting.” For the year ended December 31, 2018 compared to the year ended December 31, 2017

Operating income and Adjusted EBITDA increased $192.8 million , or 53% , and $185.0 million , or 39% , respectively, primarily as a result of the increase in revenue of $399.2 million and lower selling and marketing expense as a percentage of revenue due to the ongoing product mix shift toward brands with lower marketing spend as a percentage of revenue and a reduction in marketing spend at our Match Affinity brands, partially offset by an increase in cost of revenue primarily due to higher in-app purchase fees. Operating income was further impacted by lower stock-based compensation expense as a percentage of revenue resulting in increased growth compared to Adjusted EBITDA. At December 31, 2018 , there was $119.3 million of unrecognized compensation cost, net of estimated forfeitures, related to all equity-based awards, which is expected to be recognized over a weighted average period of approximately 2.4 years . For the year ended December 31, 2017 compared to the year ended December 31, 2016

Operating income and Adjusted EBITDA increased $45.0 million, or 14%, and $65.6 million, or 16%, respectively, primarily as a result of the increase in revenue of $212.6 million and lower selling and marketing expense as a percentage of revenue due to the ongoing product mix shift toward brands with lower marketing spend as a percentage of revenue and a reduction in marketing spend at our Match Affinity brands, partially offset by an increase in cost of revenue primarily due to higher in-app purchase fees. Operating income was further impacted by an increase in stock-based compensation expense of $16.7 million, an increase in acquisition-related contingent consideration fair value adjustments of $14.5 million, and an increase in depreciation of $4.9 million due to growth in our business, partially offset by a $15.5 million decrease in amortization of intangibles as a significant portion of our scheduled amortization from the acquisition of PlentyOfFish concluded at the end of 2016.

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Interest expense

Years Ended December 31, 2018 $ Change % Change 2017 $ Change % Change 2016 (Dollars in thousands) Interest expense $73,417 $(4,148) (5)% $77,565 $(4,634) (6)% $82,199

For the year ended December 31, 2018 compared to the year ended December 31, 2017 Interest expense decreased primarily due to the issuance of the 5.00% Senior Notes which replaced the 6.75% Senior Notes, partially offset by an increase in the weighted average interest rate of the Term Loan and an increase in the outstanding balance of the Term Loan beginning with the third quarter of 2017. For the year ended December 31, 2017 compared to the year ended December 31, 2016 Interest expense decreased primarily due to the reduction of the average outstanding balance in the Term Loan and the December 2016 and August 2017 repricings of the Term Loan, which reduced the contractual interest rates, partially offset by the issuance of the 6.375% Senior Notes in June 2016, which replaced a corresponding amount outstanding on the Term Loan with debt at a higher interest rate.

Other income (expense), net

Years Ended December 31, 2018 $ Change % Change 2017 $ Change % Change 2016 (Dollars in thousands) Other income (expense), net $7,765 $38,592 NM $(30,827) $(38,693) NM $7,866

______NM = not meaningful Other income, net, in 2018 includes $5.3 million in net foreign currency exchange gains due primarily to a strengthening of the U.S. dollar relative to the British Pound in the period and $4.9 million of interest income, partially offset by impairments of certain equity investments of $2.1 million and $0.7 million of expense related to a mark-to-market adjustment pertaining to a subsidiary denominated equity instrument. Other expense, net, in 2017 includes expenses of $15.4 million related to the extinguishment of our 6.75% Senior Notes and repricing of the Term Loan, $13.0 million related to a mark-to-market adjustment pertaining to a subsidiary denominated equity award held by a non-employee, $10.3 million in net foreign currency exchange losses primarily due to the strengthening of the British Pound relative to the dollar, and a $2.3 million other-than-temporary impairment charge related to a cost method investment resulting from our assessment of the near-term prospects and financial condition of the investee. These expenses were partially offset by a gain on the sale of a cost method investment of $9.1 million. Other income, net in 2016 includes $20.0 million in foreign currency exchange gains due to strengthening of the dollar relative to the British Pound and Euro and a $3.1 million gain related to the sale of a marketable equity security, partially offset by a non-cash charge of $12.1 million related to the write-off of a proportionate share of original issue discount and deferred financing costs associated with prepayments of $440 million of the Term Loan, $2.1 million of expense related to mark-to-market adjustment pertaining to a subsidiary denominated equity award held by a non-employee, $1.5 million repricing fees related to the Term Loan, and a $0.7 million other-than-temporary impairment charge related to a certain cost method investment.

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Income tax (provision) benefit

Years Ended December 31, 2018 $ Change % Change 2017 $ Change % Change 2016 (Dollars in thousands) Income tax (provision) benefit $(14,673) $(118,525) NM $103,852 $166,727 NM $(62,875) Effective income tax rate 3% NM 26% For discussion of income taxes, see “ Note 3—Income Taxes ” to the consolidated financial statements included in “Item 8—Consolidated Financial Statements and Supplementary Data.” For the year ended December 31, 2018, the Company recorded an income tax provision of $14.7 million , which represents an effective tax rate of 3% , which is lower than the statutory rate of 21% due primarily to excess tax benefits generated by the exercise and vesting of stock-based awards. In 2017, the Company recorded an income tax benefit of $103.9 million, which was due primarily to the effect of adopting the provisions of the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , on January 1, 2017, partially offset by the effect of the Tax Cuts and Jobs Act (“Tax Act”) discussed below. Under ASU No. 2016-09, excess tax benefits generated by the exercise, purchase or settlement of stock-based awards of $279.7 million in 2017 are recognized as a reduction to the income tax provision rather than additional paid-in capital. The Tax Act, enacted on December 22, 2017, subjected to U.S. taxation certain previously deferred earnings of foreign subsidiaries as of December 31, 2017 (“Transition Tax”) and implemented a number of changes that took effect on January 1, 2018, including but not limited to, a reduction of the U.S. federal corporate tax rate from 35% to 21% and a new minimum tax on global intangible low-taxed income (“GILTI”) earned by foreign subsidiaries. The Company was able to make a reasonable estimate of the Transition Tax and recorded a provisional tax expense in the fourth quarter of 2017. In 2018, the Company finalized this calculation, which resulted in a $3.2 million reduction in the Transition Tax. The net reduction in the Transition Tax was due primarily to the utilization of additional foreign tax credits, partially offset by additional taxable earnings and profits of our foreign subsidiaries based on IRS guidance. The adjustment of the Company’s provisional tax expense was recorded as a change in estimate in accordance with Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act , which was also included in ASU No. 2018-05, Income Taxes (Topic 740), Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (“SAB 118”) , which was adopted by the Company upon issuance in March 2018. Despite the completion of the Company’s accounting for the Tax Act under SAB 118, many aspects of the law remain unclear and we expect ongoing guidance to be issued at both the federal and state levels. We will continue to monitor and assess the impact of any new developments. For the year ended December 31, 2016 , the Company recorded an income tax provision of $62.9 million , which represents an effective income tax rate of 26% , which was lower than the statutory rate of 35% due primarily to foreign income taxed at lower rates, including non-taxable foreign currency exchange gains, and a reduction in deferred tax liabilities for a foreign tax law change. Related party transactions For discussion of related party transactions, see “ Note 15—Related Party Transactions ” to the consolidated financial statements included in “Item 8— Consolidated Financial Statements and Supplementary Data.”

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PRINCIPLES OF FINANCIAL REPORTING Match Group reports Adjusted EBITDA, which is a supplemental measure to U.S. generally accepted accounting principles (“GAAP”). Adjusted EBITDA is among the primary metrics by which we evaluate the performance of our business, on which our internal budget is based and by which management is compensated. We believe that investors should have access to, and we are obligated to provide, the same set of tools that we use in analyzing our results. This non- GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. Match Group endeavors to compensate for the limitations of the non-GAAP measure presented by providing the comparable GAAP measure with equal or greater prominence to and descriptions of the reconciling items, including quantifying such items, to derive the non-GAAP measure. We encourage investors to examine the reconciling adjustments between the GAAP and non-GAAP measure, which we discuss below.

Adjusted EBITDA Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of (i) amortization of intangible assets and impairments of goodwill and intangible assets, if applicable, and (ii) gains and losses recognized on changes in the fair value of contingent consideration arrangements. We believe this measure is useful for analysts and investors as this measure allows a more meaningful comparison between our performance and that of our competitors. The above items are excluded from our Adjusted EBITDA measure because they are non-cash in nature. Adjusted EBITDA has certain limitations in that it does not take into account the impact to our consolidated statement of operations of certain expenses. Non-Cash Expenses That Are Excluded From Non-GAAP Measure Stock-based compensation expense consists principally of expense associated with the grants of stock options, restricted stock units (“RSUs”), performance- based RSUs and market-based awards. These expenses are not paid in cash, and we include the related shares in our fully diluted shares outstanding using the treasury stock method. Performance-based RSUs and market-based awards are included only to the extent the applicable performance or market condition(s) have been met (assuming the end of the reporting period is the end of the contingency period). To the extent that stock-based awards are settled on a net basis, the Company remits the required tax-withholding amounts in cash from its current funds. Certain awards provide the employee the option to pay the applicable strike price and withholding taxes or to allow for the award to be net settled. Depreciation is a non-cash expense relating to our property and equipment and is computed using the straight-line method to allocate the cost of depreciable assets to operations over their estimated useful lives, or, in the case of leasehold improvements, the lease term, if shorter. Amortization of intangible assets and impairments of goodwill and intangible assets are non-cash expenses. At the time of acquisition, identifiable definite- lived intangible assets, such as customer lists, trade names, and technology are valued and amortized over their estimated lives. Value is also assigned to acquired indefinite-lived intangible assets, which comprise trade names and trademarks, and, in the case of an acquired company, goodwill, all of which are not subject to amortization. An impairment is recorded when the carrying value of an intangible asset or goodwill exceeds its fair value. We believe that intangible assets represent costs incurred by the acquired company to build value prior to its acquisition and the related amortization and impairment charges of intangible assets or goodwill, if applicable, are not ongoing costs of doing business. Acquisition-related gains and losses recognized on changes in the fair value of contingent consideration arrangements are accounting adjustments to report contingent consideration liabilities at fair value. These adjustments can be highly variable and are excluded from our assessment of performance because they are considered non-operational in nature and, therefore, are not indicative of current or future performance or the ongoing cost of doing business.

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The following table reconciles net earnings attributable to Match Group, Inc. shareholders to operating income and Adjusted EBITDA:

Years Ended December 31, 2018 2017 2016 (In thousands) Net earnings attributable to Match Group, Inc. shareholders $ 477,939 $ 350,148 $ 171,451 Add back: Net (loss) earnings attributable to noncontrolling interests (5,348) 179 562 Loss from discontinued operations, net of tax 378 5,650 6,328 Income tax provision (benefit) 14,673 (103,852) 62,875 Other (income) expense, net (7,765) 30,827 (7,866) Interest expense 73,417 77,565 82,199 Operating Income 553,294 360,517 315,549 Stock-based compensation expense 66,031 69,090 52,370 Depreciation 32,968 32,613 27,726 Amortization of intangibles 1,318 1,468 16,932 Acquisition-related contingent consideration fair value adjustments 320 5,253 (9,197) Adjusted EBITDA $ 653,931 $ 468,941 $ 403,380

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FINANCIAL POSITION, LIQUIDITY AND CAPITAL RESOURCES

Financial Position

December 31, 2018 December 31, 2017 (In thousands) Cash and cash equivalents: United States $ 83,851 $ 203,452 All other countries (a) 103,096 69,172 Total cash and cash equivalents $ 186,947 $ 272,624

Long-term debt, net: Credit Facility due December 7, 2023 $ 260,000 $ — Term Loan due November 16, 2022 425,000 425,000 6.375% Senior Notes 400,000 400,000 5.00% Senior Notes 450,000 450,000 Total long-term debt 1,535,000 1,275,000 Less: unamortized original issue discount and original issue premium, net 7,352 8,668 Less: unamortized debt issuance costs 11,737 13,636 Total long-term debt, net $ 1,515,911 $ 1,252,696

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(a) At December 31, 2018 , all of the Company’s international cash can be repatriated without significant tax consequences. During the year ended December 31, 2018 , foreign cash of $25.2 million was repatriated to the U.S. Senior Notes: On December 4, 2017, we issued $450 million of 5.00% Senior Notes due December 15, 2027. The notes were issued at 99.027% of par. The proceeds, along with cash on hand, were used to redeem the 6.75% Senior Notes and pay the related call premium. On June 1, 2016, we issued $400 million aggregate principal amount of 6.375% Senior Notes due June 1, 2024. The proceeds were used to prepay a portion of indebtedness outstanding under the Term Loan. The indentures governing the 5.00% and 6.375% Senior Notes contain covenants that would limit the Company’s ability to pay dividends or to make distributions and repurchase or redeem Match Group stock in the event a default has occurred or Match Group’s leverage ratio (as defined in the indentures) exceeds 5.0 to 1.0. As of December 31, 2018 , Match Group was in compliance with all applicable covenants and was below the 5.0 to 1.0 leverage ratio. Term Loan and Credit Facility: On November 16, 2015, the Company entered into a credit agreement (the “Credit Agreement”) under which the Company has a Term Loan. At both December 31, 2018 and 2017, the outstanding balance on the Term Loan was $425 million . The Term Loan bears interest at LIBOR plus 2.50% and includes a LIBOR floor of 0.00%. The interest rate at December 31, 2018 and 2017 was 5.09% and 3.85% , respectively. Interest payments are due at least quarterly through the term of the loan. The Term Loan provides for additional annual principal payments as part of an excess cash flow sweep provision, the amount of which, if any, is governed by the secured net leverage ratio set forth in the Credit Agreement. Additionally, the Company has a $500 million revolving credit facility. On December 7, 2018, the Company amended the Credit Facility to extend the maturity to December 7, 2023 and modify the pricing grid used to calculate the applicable interest rate for revolving loans. At December 31, 2018 , the outstanding balance

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RLP 214 Table of Contents was $260 million. At December 31, 2017 , there were no outstanding borrowings under the Credit Facility. Borrowings under the Credit Facility bear interest, at the Company’s option, at a base rate or LIBOR, in each case plus an applicable margin, which is determined by reference to a pricing grid based on the Company’s consolidated net leverage ratio. At December 31, 2018 , borrowings under the Credit Facility bear interest at LIBOR plus 1.50%. The weighted average interest rate at December 31, 2018 is 3.97% . The annual commitment fee on undrawn funds based on the current leverage ratio is 25 basis points. The terms of the Credit Facility require the Company to maintain a consolidated net leverage ratio of not more than 5.0 to 1.0 and a minimum interest coverage ratio of not less than 2.0 to 1.0 (in each case as defined in the Credit Agreement). Borrowings under the Credit Facility were repaid with proceeds from the 5.625% Senior Notes issued on February 15, 2019. There are additional covenants under the Credit Facility and the Term Loan that limit the ability of the Company and its subsidiaries to, among other things, incur indebtedness, pay dividends or make distributions. While the Term Loan remains outstanding, these same covenants under the Credit Agreement are more restrictive than the covenants that are applicable to the Credit Facility. Obligations under the Credit Facility and Term Loan are unconditionally guaranteed by certain Match Group wholly-owned domestic subsidiaries and are secured by the stock of certain Match Group domestic and foreign subsidiaries. The Term Loan and outstanding borrowings under the Credit Facility rank equally with each other and have priority over the 5.00% and 6.375% Senior Notes to the extent of the value of the assets securing the borrowings under the Credit Agreement. IAC Subordinated Loan Facility: The Company has an uncommitted subordinated loan facility with IAC (the “IAC Subordinated Loan Facility”), which allows the Company to make one or more requests to IAC to borrow funds from it. If IAC agrees to fulfill any such borrowing request from the Company, such borrowing will be incurred in accordance with the terms of the IAC Subordinated Loan Facility. Any indebtedness outstanding under the IAC Subordinated Loan Facility will be by its terms subordinated in right of payment to the obligations under the Credit Facility, the Term Loan and the 5.00% and 6.375% Senior Notes. The IAC Subordinated Loan Facility has a scheduled final maturity date of no earlier than 90 days after the maturity date of the Credit Facility or the latest maturity date in respect of any Term Loan outstanding under the Credit Agreement. At December 31, 2018 , the Company has no indebtedness outstanding under the IAC Subordinated Loan Facility.

Cash Flow Information In summary, the Company’s cash flows are as follows:

Years ended December 31, 2018 2017 2016 (In thousands) Net cash provided by operating activities attributable to continuing operations $ 603,455 $ 321,108 $ 259,549 Net cash (used in) provided by investing activities attributable to continuing operations (37,761) 118,188 (27,199) Net cash used in financing activities attributable to continuing operations (649,555) (423,714) (61,194)

2018 Net cash provided by operating activities attributable to continuing operations in 2018 includes adjustments to earnings consisting primarily of $66.0 million of stock-based compensation expense, $33.0 million of depreciation, and $1.3 million of amortization of intangibles. Partially offsetting these adjustments was deferred income tax of $19.6 million primarily related to an increase in tax credit carryforwards, partially offset by the utilization of net operating losses. The increase in cash from changes in working capital primarily consists of an increase in accounts payable and accrued expenses and other current liabilities of $20.8 million due to the timing of payments; a decrease in accounts receivable of $17.3 million primarily related to an accelerated cash receipt from a mobile app store provider; an increase in deferred revenue of $13.1 million , due mainly to growth in subscription sales; and an increase from income taxes payable and receivable of $12.8 million due primarily to the timing of tax payments. These increases in cash were partially offset by an increase in other assets of $14.6 million primarily related to an increase in capitalized mobile app fees.

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Net cash used in investing activities attributable to continuing operations in 2018 consists primarily of capital expenditures of $31.0 million that are primarily related to computer hardware and internal development of software to support our products and services and purchases of investments of $3.8 million , partially offset by net cash acquired in a business combination of $1.1 million . Net cash used in financing activities attributable to continuing operations in 2018 is primarily due to a cash dividend payment of $556.4 million , withholding taxes paid on behalf of employees for net settled stock awards of $207.7 million , purchases of treasury stock of $133.5 million , purchases of non-controlling interests of $10.0 million , and debt issuance costs of $1.3 million . Partially offsetting these payments were proceeds of $260 million from a draw on the Credit Facility. 2017 Net cash provided by operating activities attributable to continuing operations in 2017 includes adjustments to earnings consisting primarily of deferred income tax benefits of $118.3 million primarily related to the net operating loss created by tax deductions created from stock-based awards. Partially offsetting this adjustment was $69.1 million of stock-based compensation expense, $32.6 million of depreciation, $5.3 million of acquisition-related contingent consideration fair value adjustments, $1.5 million of amortization of intangibles, and $22.1 million in other adjustments that consist primarily of non-cash loss on extinguishment of debt of $15.4 million, net foreign currency losses of $9.0 million, non-cash interest expenses of $4.1 million, and a non-cash other-than-temporary impairment on a cost method investment of $2.3 million, partially offset by a gain on the sale of a cost method investment of $9.1 million. The decrease in cash from changes in working capital primarily consists of increases in accounts receivable of $51.6 million primarily related to timing of cash receipts and revenue increasingly sourced through mobile app stores, which are settled with the Company more slowly than traditional credit cards; a decrease in accounts payable and accrued expenses and other current liabilities of $16.8 million, due primarily to the cash settlement of a former subsidiary denominated equity award held by a non-employee; and decreases in cash from other assets of $10.6 million primarily related to the prepayment of certain expenses. These uses of cash were partially offset by an increase in deferred revenue of $32.8 million, due mainly to growth in subscription sales. Net cash provided by investing activities attributable to continuing operations in 2017 consists primarily of net proceeds of $96.1 million from the sale of a business and net proceeds of $60.2 million from the sale of a cost method investment, partially offset by capital expenditures of $28.8 million that are primarily related to development of capitalized software to support our products and services and the purchase of investments of $9.1 million. Net cash used in financing activities attributable to continuing operations in 2017 is primarily due to cash payments of $272.5 million for the purchase of certain fully vested stock-based awards, $254.2 million for withholding taxes paid on behalf of employees for net settled stock awards, a $23.4 million payment related to an acquisition-related contingent consideration agreement, and debt issuance costs of $12.3 million. Offsetting these payments were proceeds of $75.0 million from the increase in the Term Loan; proceeds from the issuance of common stock pursuant to stock-based awards of $59.4 million; and net Senior Notes increase of $4.8 million as $445.2 million of 6.75% Senior Notes were redeemed with the proceeds from the issuance of $450.0 million of 5.00% Senior Notes. 2016 Net cash provided by operating activities attributable to continuing operations in 2016 includes adjustments to earnings consisting primarily of $52.4 million of stock-based compensation expense, $27.7 million of depreciation, $16.9 million of amortization of intangibles, $9.2 million in gains from acquisition-related contingent consideration fair value adjustments and $4.8 million in other adjustments that consist primarily of a non-cash charge on the prepayment of $400 million of the Term Loan, partially offset by foreign currency exchange gains on intercompany loans. The increase in cash from changes in working capital primarily consists of an increase in deferred revenue of $19.2 million, due mainly to growth in subscription revenue, and an increase of the income tax payable as accruals exceeded payments, partially offset by an increase from accounts receivable and a decrease in accounts payable and accrued expenses and other current liabilities. Net cash used in investing activities attributable to continuing operations in 2016 consists primarily of capital expenditures of $46.1 million that are related to the development of software capitalized to support our

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RLP 216 Table of Contents products and services, as well as computer equipment and leasehold improvements as we continue to grow and expand our operations, partially offset by the proceeds of $11.7 million from the sale of a marketable security. Net cash used in financing activities attributable to continuing operations in 2016 mainly relates to the prepayment of $450.0 million of the Term Loan, of which $400.0 million was financed by the issuance of the 6.375% Senior Notes.

Liquidity and Capital Resources The Company’s principal sources of liquidity are its cash flows generated from operations as well as cash and cash equivalents. The Company has a $500 million Credit Facility that expires on December 7, 2023. At December 31, 2018 , there were outstanding borrowings of $260 million under the Credit Facility. Borrowings under the Credit Facility were repaid with proceeds from the 5.625% Senior Notes issued on February 15, 2019. The Company anticipates that it will need to make capital and other expenditures in connection with the development and expansion of its operations. The Company expects that 2019 capital expenditures will be between $35 million and $40 million, an increase from 2018 capital expenditures primarily related to additional leasehold improvements as Tinder expands office space. The Company believes its expected positive cash flows generated from operations together with its existing cash and cash equivalents and available borrowing capacity under the Credit Facility will be sufficient to fund its normal operating requirements, including the payment of withholding taxes on behalf of employees for net-settled equity plans, capital expenditures, debt service, investing, and other commitments for the foreseeable future. The Company’s liquidity could be negatively affected by a decrease in demand for our products and services. On November 6, 2018, the Board of Directors declared a special dividend of $2.00 per share on Match Group common stock and Class B common stock, which was paid on December 19, 2018, to stockholders of record as of the close of business on December 5, 2018. The total amount of the dividend was $556.4 million . The special dividend was funded with cash on hand and borrowings under the Credit Facility.

In May 2017, the Board of Directors of the Company authorized Match Group to repurchase up to 6 million shares of its common stock. The timing and actual number of any shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. The Company is not obligated to purchase any shares under the repurchase program, and repurchases may be commenced, suspended or discontinued from time to time without prior notice. We purchased 3.1 million shares related to this repurchase authorization through December 31, 2018 for $133.5 million . A total of 2.9 million shares remain available for repurchase.

The Company settles substantially all equity awards on a net basis. Assuming all equity awards outstanding on February 1, 2019 were net settled, we would issue 10.2 million common shares (of which 2.0 million are related to vested shares and 8.1 million are related to unvested shares) and, assuming a 50% withholding rate, would remit $556.2 million in cash for withholding taxes (of which $110.7 million is related to vested shares and $445.4 million is related to unvested shares). If we decided to issue a sufficient number of shares to cover the $556.2 million employee withholding tax obligation, 10.2 million additional shares would be issued by the Company.

The Company does not currently expect to be a material U.S. federal cash income tax payer until 2021. The ultimate timing is dependent primarily on the performance of the Company and the amount and timing of tax deductions related to stock-based awards.

All of the Company’s international cash can be repatriated without significant tax consequences. During the year ended December 31, 2018, foreign cash of $25.2 million was repatriated to the U.S.

Our indebtedness could limit our ability to: (i) obtain additional financing to fund working capital needs, acquisitions, capital expenditures, debt service or other requirements; and (ii) use operating cash flow to pursue acquisitions or invest in other areas, such as developing properties and exploiting business opportunities. As of December 31, 2018 , IAC owns 81.1% of our outstanding shares of capital stock and has 97.6% of the combined voting power of our outstanding capital stock. As a result of IAC’s ability to control the election and removal of our board of directors, IAC effectively has the ability to control our financing activities, including the issuance of additional debt and equity securities, the incurrence of other indebtedness, or distributions to shareholders. While

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RLP 217 Table of Contents the Company believes we will have the ability to access debt and equity markets if needed, such transactions may require the concurrence of IAC.

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CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS

Payments Due by Period Less Than 1–3 3–5 More Than (a) Contractual Obligations 1 Year Years Years 5 Years Total (In thousands) Long-term debt (b)(c) $ 78,271 $ 164,546 $ 827,699 $ 952,750 $ 2,023,266 Operating leases (d) 11,559 25,570 12,833 17,471 67,433 Purchase obligation (e) 27,153 23,897 — — 51,050 Total contractual obligations $ 116,983 $ 214,013 $ 840,532 $ 970,221 $ 2,141,749

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(a) The Company has excluded $35.6 million in unrecognized tax benefits and related interest from the table above as we are unable to make a reasonably reliable estimate of the period in which these liabilities might be paid. For additional information on income taxes, see “ Note 3—Income Taxes ” to the consolidated financial statements included in “Item 8—Consolidated Financial Statements and Supplementary Data.” (b) Represents contractual amounts due including interest on both fixed and variable rate instruments. Long-term debt at December 31, 2018 consists of the 6.375% and 5.00% Senior Notes of $400 million and $450 million, respectively, which bear interest at fixed rates, and the Credit Facility and Term Loan balances of $260 million and $425 million , respectively, which both bear interest at a variable rate. The Credit Facility and the Term Loan bear interest at LIBOR plus 1.50%, or 3.97% , and LIBOR plus 2.50% , or 5.09% , respectively, at December 31, 2018 . The amount of interest ultimately paid on the Credit Facility and Term Loan may differ based on changes in interest rates and outstanding balances. For additional information on long-term debt, see “ Note 7—Long-term Debt, net ” to the consolidated financial statements included in “Item 8—Consolidated Financial Statements and Supplementary Data.” (c) Subsequent to December 31, 2018, the Credit Facility was repaid in full with the issuance of the 5.625% Senior Notes. The interest and principal related to the 5.625% Senior Notes are not reflected in the table above. (d) The Company leases office space, data center facilities and equipment used in connection with its operations under various operating leases, many of which contain escalation clauses. The Company is also committed to pay a portion of the related operating expenses under certain lease agreements. These operating expenses are not included in the table above. For additional information on operating leases, see “ Note 13—Commitments and Contingencies ” to the consolidated financial statements included in “Item 8—Consolidated Financial Statements and Supplementary Data.” (e) The purchase obligations consist primarily of a web hosting commitment. We also had $0.4 million of letters of credit and surety bonds outstanding as of December 31, 2018 that could potentially require performance by the Company in the event of demands by third parties or contingent events.

Off-Balance Sheet Arrangements Other than the items described above, the Company does not have any off-balance sheet arrangements as of December 31, 2018 .

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CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The following disclosure is provided to supplement the descriptions of Match Group’s accounting policies contained in “ Note 2—Summary of Significant Accounting Policies ” to the consolidated financial statements included in “Item 8—Consolidated Financial Statements and Supplementary Data” in regard to significant areas of judgment. Management of the Company is required to make certain estimates, judgments and assumptions during the preparation of its consolidated financial statements in accordance with U.S. generally accepted accounting principles. These estimates, judgments and assumptions impact the reported amount of assets, liabilities, revenue and expenses and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates. Because of the size of the financial statement elements to which they relate, some of our accounting policies and estimates have a more significant impact on our consolidated financial statements than others. What follows is a discussion of some of our more significant accounting policies and estimates.

Business Combinations and Contingent Consideration Arrangements Acquisitions have been, and will continue to be, an important part of the Company’s growth strategy. The purchase price of each acquisition is attributed to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, including identifiable intangible assets that either arise from a contractual or legal right or are separable from goodwill. The fair value of these intangible assets is based on valuations that use information and assumptions provided by management. The excess purchase price over the net tangible and identifiable intangible assets is recorded as goodwill and is assigned to the reporting unit that is expected to benefit from the combination as of the acquisition date. In connection with certain business combinations, the Company has entered into contingent consideration arrangements that are determined to be part of the purchase price. Each of these arrangements is initially recorded at its fair value at the time of the acquisition and reflected at current fair value for each subsequent reporting period thereafter until settled. The contingent consideration arrangements are generally based upon earnings performance and/or operating metrics. The Company determines the fair value of the contingent consideration arrangements by using probability-weighted analyses to determine the amounts of the gross liability, and, if the arrangement is long-term in nature, applying a discount rate that appropriately captures the risk associated with the obligation to determine the net amount reflected in the consolidated financial statements. Significant changes in forecasted earnings or operating metrics would result in a significantly higher or lower fair value measurement. The changes in the remeasured fair value of the contingent consideration arrangements during each reporting period, including the accretion of the discount, if applicable, are recognized in “General and administrative expense” in the accompanying consolidated statement of operations.

Recoverability of Goodwill and Indefinite-Lived Intangible Assets Goodwill is the Company’s largest asset with a carrying value of $1.2 billion at both December 31, 2018 and 2017 , representing 61% and 59% , respectively, of the Company’s total assets. Indefinite-lived intangible assets, which consist of the Company’s acquired trade names and trademarks, have a carrying value of $230.7 million and $228.3 million at December 31, 2018 and 2017 , respectively. Goodwill and indefinite-lived intangible assets are assessed annually for impairment as of October 1, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or the fair value of an indefinite-lived intangible asset below its carrying value. In performing its annual assessment, the Company has the option to qualitatively assess whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. The 2018 and 2017 annual assessments did not identify any material impairments. For the Company's annual goodwill test at October 1, 2018, a qualitative assessment of goodwill was performed because the Company concluded it was more likely than not that the fair value of its single reporting unit was in excess of its carrying value. The primary factors that the Company considered in its qualitative assessment were that its market capitalization of $15.7 billion exceeded the carrying value by approximately $15.1 billion and the Company’s strong operating performance. The Company tests goodwill for impairment when it concludes that it is more likely than not that there may be an impairment. If needed, the annual or interim quantitative test of the recovery of goodwill involves a comparison of the estimated fair value of each reporting unit to its carrying value, including goodwill. If the

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RLP 220 Table of Contents estimated fair value of the reporting unit exceeds its carrying value, goodwill of the reporting unit is not impaired. If the carrying value of the reporting unit exceeds its estimated fair value, an impairment loss equal to the excess is recorded. While the Company has the option to qualitatively assess whether it is more likely than not that the fair value of its indefinite-lived intangible assets is less than their carrying values, the Company’s policy is to determine the fair value of each of its indefinite-lived intangible assets annually as of October 1. The Company determines the fair value of indefinite-lived intangible assets using an avoided royalty DCF valuation analysis. Significant judgments inherent in these analyses include the selection of appropriate royalty and discount rates and estimating the amount and timing of expected future cash flows. The discount rates used in the DCF analyses are intended to reflect the risks inherent in the expected future cash flows generated by the respective intangible assets. The royalty rates used in the DCF analyses are based upon an estimate of the royalty rates that a market participant would pay to license the Company’s trade names and trademarks. Assumptions used in the avoided royalty DCF analyses, including the discount rate and royalty rate, are assessed annually based on the actual and projected cash flows related to the asset, as well as macroeconomic and industry specific factors. The discount rates used in the Company’s annual indefinite-lived impairment assessment ranged from 11% to 26% in both 2018 and 2017 , and the royalty rates used ranged from 3% to 8% in 2018 and 3% to 7% in 2017 . The aggregate indefinite-lived intangible asset balance for which the most recent estimate of fair value is less than 110% of their carrying values is approximately $101.7 million .

Recoverability and Estimated Useful Lives of Long-Lived Assets We review the carrying value of all long-lived assets, comprising property and equipment and definite-lived intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying value is deemed not to be recoverable, an impairment loss is recorded equal to the amount by which the carrying value of the long-lived asset exceeds its fair value. In addition, the Company reviews the useful lives of its long-lived assets whenever events or changes in circumstances indicate that these lives may be changed. The carrying value of property and equipment and definite-lived intangible assets is $65.3 million and $63.7 million , at December 31, 2018 and 2017 , respectively.

Income Taxes Match Group is included within IAC’s tax group for purposes of federal and consolidated state income tax return filings. In all periods presented, current income tax provision and deferred income tax benefit have been computed for Match Group on an as if stand-alone, separate return basis. The Company’s payments to IAC for its share of IAC’s consolidated federal and state tax return liabilities have been reflected within cash flows from operating activities in the accompanying consolidated statement of cash flows. The tax sharing agreement between the Company and IAC governs the parties’ respective rights, responsibilities and obligations with respect to tax matters, including responsibility for taxes attributable to the Company, entitlement to refunds, allocation of tax attributes and other matters. The Company accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the deferred tax asset will not be realized. At December 31, 2018 and 2017, the balance of the Company’s net deferred tax asset is $114.2 million and $94.7 million , respectively. We evaluate and account for uncertain tax positions using a two-step approach. Recognition (step one) occurs when we conclude that a tax position, based solely on its technical merits, is more-likely-than-not to be sustained upon examination. Measurement (step two) determines the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. De-recognition of a tax position that was previously recognized would occur when the Company subsequently determines that a tax position no longer meets the more-likely-than-not threshold of being sustained. This measurement step is inherently difficult and requires subjective estimations of such amounts to determine the

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RLP 221 Table of Contents probability of various possible outcomes. At December 31, 2018 and 2017 , the Company has unrecognized tax benefits of $37.6 million and $26.8 million, including interest and penalties, respectively. We consider many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustment, and which may not accurately anticipate actual outcomes. Although management currently believes changes to reserves from period to period and differences between amounts paid, if any, upon resolution of issues raised in audits and amounts previously provided will not have a material impact on the liquidity, results of operations, or financial condition of the Company, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. The ultimate amount of deferred income tax assets realized and the amounts paid for deferred income tax liabilities and uncertain tax positions may vary from our estimates due to future changes in income tax law, state income tax apportionment or the outcome of any review of our tax returns by the various tax authorities, as well as actual operating results of the Company that vary significantly from anticipated results. At December 31, 2018 , the Company has $103.1 million in foreign cash that can be repatriated without any significant tax consequences. The Company has not provided for approximately $1.0 million of deferred taxes as the foreign cash earnings are indefinitely reinvested outside the U.S. The Company reassess its intention to remit or permanently reinvest these cash earnings each reporting period; any required adjustment to the income tax provision would be reflected in the period that the Company changes this intention. On December 22, 2017, the U.S. enacted the Tax Act. The Tax Act imposes a new minimum tax on GILTI earned by foreign subsidiaries beginning in 2018. The Financial Accounting Standards Board Staff Q&A, Topic 740 No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred. The Company elects to recognize the tax on GILTI as a period expense in the period the tax is incurred.

Stock-Based Compensation The Company recorded stock-based compensation expense of $66.0 million , $69.1 million and $52.4 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. The Company estimated the fair value of stock options issued in 2018 , 2017 and 2016 using a Black-Scholes option pricing model measured at the grant date and is expensing this fair value over the vesting term. The impact on stock-based compensation expense for the year ended December 31, 2018 , assuming a 1% increase in the risk-free interest rate, a 10% increase in the volatility factor and a one-year increase in the weighted average expected term of the outstanding options would be an increase of $0.9 million, $7.6 million and $2.5 million, respectively. The Company also issues RSUs. For RSUs issued, the value of the instrument is measured at the grant date as the fair value of Match Group common stock and, for those with a market condition, the fair value is estimated using a lattice model, and expensed as stock-based compensation expense over the vesting term.

Recent Accounting Pronouncements For a discussion of recent accounting pronouncements, see “ Note 2—Summary of Significant Accounting Policies ” to the consolidated financial statements included in “Item 8—Consolidated Financial Statements and Supplementary Data.”

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Item 7A. Quantitative and Qualitative Disclosures About Market Risk

Interest Rate Risk The Company’s exposure to market risk for changes in interest rates relates primarily to the Company’s long-term debt. At December 31, 2018 , the Company’s outstanding long-term debt was $1.5 billion , of which $850 million of Senior Notes bear interest at fixed rates. If market rates decline, the Company runs the risk that the required payments on the fixed rate debt will exceed those based on market rates. A 100 basis point increase or decrease in the level of interest rates would, respectively, decrease or increase the fair value of the fixed-rate debt by $49.8 million. Such potential increase or decrease in fair value is based on certain simplifying assumptions, including a constant level and rate of fixed-rate debt for all maturities and an immediate across-the-board increase or decrease in the level of interest rates with no other subsequent changes for the remainder of the period. The $260 million Credit Facility and the $425 million Term Loan bear interest at variable rates, LIBOR plus 1.50% and LIBOR plus 2.50%, respectively. As of December 31, 2018 , the rates in effect were 3.97% and 5.09% , respectively. If LIBOR were to increase or decrease by 100 basis points, then the annual interest expense and payments on the Credit Facility and the Term Loan would increase or decrease by $2.6 million and $4.3 million , respectively, based upon the outstanding balances on each at December 31, 2018.

Foreign Currency Exchange Risk The Company conducts business in certain foreign markets, primarily in various jurisdictions within the European Union (“EU”) and Asia. We are primarily exposed to foreign exchange risk for both the Euro and British Pound (“GBP”). For the years ended December 31, 2018 , 2017 and 2016 , international revenue accounted for 50% , 46% and 40%, respectively, of our consolidated revenue. We have exposure to foreign currency exchange risk related to transactions carried out in a currency other than the U.S. dollar, and investments in foreign subsidiaries with a functional currency other than the U.S. dollar. As foreign currency exchange rates change, translation of the statement of operations of our international businesses into U.S. dollars affects year-over-year comparability of operating results. The average GBP and Euro exchange rates strengthened against the U.S. Dollar by 4% and 5%, respectively, in 2018 compared to 2017 . Additionally, the announcement of the United Kingdom (“UK”) referendum in which voters approved an exit from the EU, commonly referred to as “Brexit,” and the subsequent negotiations between the UK and EU, has previously caused, and may continue to cause, significant volatility in currency exchange rates between the U.S. dollar and the GBP. Foreign currency exchange rate changes during the years ended December 31, 2018 and 2017 did not have a material impact on revenue. Foreign currency exchange gains and losses included in the Company’s earnings for the years ended December 31, 2018 , 2017 and 2016 are gains and (losses) of $5.3 million , $(10.3) million and $20.0 million , respectively. Historically, foreign currency exchange gains and losses have not been material to the Company. The loss in 2017 is primarily related to a U.S. dollar denominated intercompany loan in which the receivable is held by a foreign subsidiary with a GBP functional currency. As the GBP strengthened against the U.S. Dollar during the year, the intercompany loan incurred losses. The gain in 2016 is primarily related to the significant decline in the GBP in 2016 following the Brexit vote on June 23, 2016. Foreign currency exchange gains or losses historically have not been material to the Company. As a result, historically, we have not hedged any foreign currency exposures. The continued growth and expansion of our international operations into new countries increases our exposure to foreign exchange rate fluctuations. Significant foreign exchange rate fluctuations, in the case of one currency or collectively with other currencies, could adversely affect our future results of operations.

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Item 8. Consolidated Financial Statements and Supplementary Data

Report of Independent Registered Public Accounting Firm

To the Shareholders and the Board of Directors of Match Group, Inc.

Opinion on the Financial Statements We have audited the accompanying consolidated balance sheet of Match Group, Inc. and subsidiaries (the Company) as of December 31, 2018 and 2017 , and the related consolidated statements of operations, comprehensive operations, shareholders’ equity and cash flows for each of the three years in the period ended December 31, 2018 , and the related notes and the financial statement schedule listed in the Index at Item 15(a) (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2018 and 2017, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2018, in conformity with U.S. generally accepted accounting principles.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2018 , based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) and our report dated February 28, 2019 expressed an unqualified opinion thereon.

Adoption of ASU No. 2016-09 As discussed in Note 11 to the consolidated financial statements, the Company changed its method of accounting for stock compensation in 2017 due to the adoption of ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting .

Basis for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ ERNST & YOUNG LLP We have served as the Company’s auditor since 2014.

New York, New York February 28, 2019

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MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

December 31, 2018 2017

(In thousands, except share data)

ASSETS Cash and cash equivalents $ 186,947 $ 272,624 Accounts receivable, net of allowance of $724 and $778, respectively 99,052 116,751 Other current assets 57,766 55,369 Total current assets 343,765 444,744 Property and equipment, net 58,351 61,620 Goodwill 1,244,758 1,247,644 Intangible assets, net 237,640 230,345 Deferred income taxes 134,347 123,199 Long-term investments 9,076 11,137 Other non-current assets 25,124 11,457 TOTAL ASSETS $ 2,053,061 $ 2,130,146 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES Accounts payable $ 9,528 $ 10,112 Deferred revenue 209,935 198,095 Accrued expenses and other current liabilities 135,971 110,566 Total current liabilities 355,434 318,773 Long-term debt, net 1,515,911 1,252,696 Income taxes payable 13,918 8,410 Deferred income taxes 20,174 28,478 Other long-term liabilities 21,760 14,484

Redeemable noncontrolling interests — 6,056

Commitments and contingencies

SHAREHOLDERS’ EQUITY Common stock; $0.001 par value; authorized 1,500,000,000 shares; 71,513,087 and 64,370,470 shares issued; and 68,460,563 and 64,370,470 shares outstanding at December 31, 2018 and December 31, 2017, respectively 72 64 Class B convertible common stock; $0.001 par value; authorized 1,500,000,000 shares; 209,919,402 shares issued and outstanding 210 210 Class C common stock; $0.001 par value; authorized 1,500,000,000 shares; no shares issued and outstanding — — Preferred stock; $0.001 par value; authorized 500,000,000 shares; no shares issued and outstanding — — Additional paid-in capital (57,575) 81,082 Retained earnings 453,778 532,211 Accumulated other comprehensive loss (137,166) (112,318) Treasury stock; 3,052,524 and 0 shares, respectively (133,455) — Total Match Group, Inc. shareholders’ equity 125,864 501,249 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,053,061 $ 2,130,146

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF OPERATIONS

Years Ended December 31, 2018 2017 2016

(In thousands, except per share data)

Revenue $ 1,729,850 $ 1,330,661 $ 1,118,110 Operating costs and expenses: Cost of revenue (exclusive of depreciation shown separately below) 410,000 279,499 195,648 Selling and marketing expense 419,954 375,610 349,119 General and administrative expense 180,286 179,804 135,019 Product development expense 132,030 101,150 78,117 Depreciation 32,968 32,613 27,726 Amortization of intangibles 1,318 1,468 16,932 Total operating costs and expenses 1,176,556 970,144 802,561 Operating income 553,294 360,517 315,549 Interest expense (73,417) (77,565) (82,199) Other income (expense), net 7,765 (30,827) 7,866 Earnings from continuing operations, before tax 487,642 252,125 241,216 Income tax (provision) benefit (14,673) 103,852 (62,875) Net earnings from continuing operations 472,969 355,977 178,341 Loss from discontinued operations, net of tax (378) (5,650) (6,328) Net earnings 472,591 350,327 172,013 Net loss (earnings) attributable to noncontrolling interests 5,348 (179) (562) Net earnings attributable to Match Group, Inc. shareholders $ 477,939 $ 350,148 $ 171,451

Net earnings per share from continuing operations: Basic $ 1.73 $ 1.35 $ 0.71 Diluted $ 1.61 $ 1.20 $ 0.66

Net earnings per share attributable to Match Group, Inc. shareholders: Basic $ 1.73 $ 1.33 $ 0.68 Diluted $ 1.61 $ 1.18 $ 0.64

Dividend declared per share $ 2.00 $ — $ —

Stock-based compensation expense by function: Cost of revenue $ 2,287 $ 1,701 $ 1,447 Selling and marketing expense 3,599 4,545 3,426 General and administrative expense 32,346 42,840 33,784 Product development expense 27,799 20,004 13,713 Total stock-based compensation expense $ 66,031 $ 69,090 $ 52,370

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS

Years Ended December 31, 2018 2017 2016

(In thousands) Net earnings $ 472,591 $ 350,327 $ 172,013 Other comprehensive (loss) income, net of tax Change in foreign currency translation adjustment (24,967) 64,588 (36,239) Change in fair value of available-for-sale securities — — (2,964) Total other comprehensive (loss) income (24,967) 64,588 (39,203) Comprehensive income 447,624 414,915 132,810 Comprehensive loss (income) attributable to noncontrolling interests 5,467 (701) (923) Comprehensive income attributable to Match Group, Inc. shareholders $ 453,091 $ 414,214 $ 131,887

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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MATCH GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY Years Ended December 31, 2018 , 2017 and 2016

Match Group, Inc. Shareholders’ Equity Common Stock Class B Convertible $0.001 Common Stock $0.001 Par Value Par Value Total Accumulated Match Group, Redeemable Additional Other Inc. Total Noncontrolling Paid-in Retained Comprehensive Treasury Shareholders’ Noncontrolling Shareholders’ Interests $ Shares $ Shares Capital Earnings Loss Stock Equity Interests Equity

Balance as of December 31, 2015 $ 5,907 $ 38 38,343 $ 210 209,919 $ 404,771 $ 10,612 $ (136,820) $ — $ 278,811 $ — $ 278,811 Net earnings for the year ended December 31, 2016 562 — — — — — 171,451 — — 171,451 — 171,451 Other comprehensive income (loss), net of tax 361 — — — — — — (39,564) — (39,564) — (39,564)

Stock-based compensation expense — — — — — 44,524 — — — 44,524 — 44,524 Issuance of common stock pursuant to stock- based awards, net of withholding taxes — 7 6,495 — — 10,224 — — — 10,231 — 10,231 Issuance of common stock to IAC pursuant to the employee matters agreement — 1 959 — — — — — — 1 — 1 Income tax benefit related to stock-based awards and other — — — — — 27,407 — — — 27,407 — 27,407 Purchase of redeemable noncontrolling interests (1,129) — — — — — — — — — — — Adjustment of redeemable noncontrolling interests to fair value 361 — — — — (361) — — — (361) — (361)

Other — — — — — 4,022 — — — 4,022 — 4,022

Balance as of December 31, 2016 6,062 46 45,797 210 209,919 490,587 182,063 (176,384) — 496,522 — 496,522 Net earnings for the year ended December 31, 2017 179 — — — — — 350,148 — — 350,148 — 350,148

Other comprehensive income, net of tax 522 — — — — — — 64,066 — 64,066 — 64,066

Stock-based compensation expense — — — — — 54,604 — — — 54,604 — 54,604 Issuance of common stock pursuant to stock- based awards, net of withholding taxes — 6 6,688 — — (248,787) — — — (248,781) — (248,781) Issuance of common stock to IAC pursuant to the employee matters agreement — 12 11,885 — — (215,429) — — — (215,417) — (215,417) Purchase of redeemable noncontrolling interests (436) — — — — — — — — — — — Adjustment of redeemable noncontrolling interests to fair value (107) — — — — 107 — — — 107 — 107

Other (164) — — — — — — — — — — —

Balance as of December 31, 2017 6,056 64 64,370 210 209,919 81,082 532,211 (112,318) — 501,249 — 501,249 Net earnings (loss) for the year ended December 31, 2018 108 — — — — — 477,939 — — 477,939 (5,456) 472,483

Other comprehensive loss, net of tax (119) — — — — — — (24,848) — (24,848) — (24,848)

Stock-based compensation expense — — — — — 66,031 — — — 66,031 — 66,031 Issuance of common stock pursuant to stock- based awards, net of withholding taxes — 5 4,173 — — (207,950) — — — (207,945) — (207,945) Issuance of common stock to IAC pursuant to the employee matters agreement — 3 2,970 — — (3) — — — — — — Dividends ($2.00 per share of Common Stock and Class B Convertible Common Stock) — — — — — — (556,372) — — (556,372) — (556,372)

Purchase of treasury stock — — — — — — — — (133,455) (133,455) — (133,455) Purchase of redeemable noncontrolling interests (3,503) — — — — — — — — — — — Adjustment of redeemable noncontrolling interests to fair value (2,542) — — — — 2,542 — — — 2,542 — 2,542 Noncontrolling interests created in an acquisition — — — — — — — — — — 14,307 14,307 Adjustment to noncontrolling interests related to business acquisition — — — — — 723 — — — 723 (723) —

Purchase of noncontrolling interest — — — — — — — — — — (8,128) (8,128)

Balance as of December 31, 2018 $ — $ 72 71,513 $ 210 209,919 $ (57,575) $ 453,778 $ (137,166) $ (133,455) $ 125,864 $ — $ 125,864

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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MATCH GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS

Years Ended December 31, 2018 2017 2016

(In thousands) Cash flows from operating activities attributable to continuing operations: Net earnings from continuing operations $ 472,969 $ 355,977 $ 178,341 Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities attributable to continuing operations: Stock-based compensation expense 66,031 69,090 52,370 Depreciation 32,968 32,613 27,726 Amortization of intangibles 1,318 1,468 16,932 Deferred income taxes (19,639) (118,251) (10,298) Acquisition-related contingent consideration fair value adjustments 320 5,253 (9,197) Other adjustments, net 230 22,142 (4,797) Changes in assets and liabilities, net of effects of acquisitions and dispositions: Accounts receivable 17,272 (51,587) (10,731) Other assets (14,606) (10,547) (5,327) Accounts payable and other liabilities 20,769 (16,801) (24,346) Income taxes payable and receivable 12,765 (1,002) 29,641 Deferred revenue 13,058 32,753 19,235 Net cash provided by operating activities attributable to continuing operations 603,455 321,108 259,549 Cash flows from investing activities attributable to continuing operations: Net cash acquired (used) in business combinations 1,136 (280) (686) Capital expenditures (30,954) (28,833) (46,098) Proceeds from the sale of a business, net — 96,144 — Proceeds from the sale of a long-term investment — 60,163 — Proceeds from sale of a marketable security — — 11,716 Purchases of investments (3,800) (9,076) (500) Other, net (4,143) 70 8,369 Net cash (used in) provided by investing activities attributable to continuing operations (37,761) 118,188 (27,199) Cash flows from financing activities attributable to continuing operations: Borrowings under the Credit Facility 260,000 — — Term Loan borrowings — 75,000 — Proceeds from bond offering — 450,000 400,000 Principal payment on Senior Notes — (445,172) — Principal payments on Term Loan — — (450,000) Debt issuance costs (1,281) (12,285) (7,811) Purchase of treasury stock (133,455) — — Dividends (556,372) — — Proceeds from issuance of common stock pursuant to stock-based awards 12 59,442 39,378 Withholding taxes paid on behalf of employees on net settled stock-based awards (207,720) (254,210) (29,830) Purchase of noncontrolling interests (9,980) (436) (1,129) Purchase of stock-based awards — (272,459) — Acquisition-related contingent consideration payments (185) (23,429) — Other, net (574) (165) (11,802) Net cash used in financing activities attributable to continuing operations (649,555) (423,714) (61,194) Total cash (used in) provided by continuing operations (83,861) 15,582 171,156

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MATCH GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS (continued)

Years Ended December 31, 2018 2017 2016

(In thousands) Net cash (used in) provided by operating activities attributable to discontinued operations — (6,061) 4,231 Net cash used in investing activities attributable to discontinued operations — (471) (4,152) Total cash (used in) provided by discontinued operations — (6,532) 79 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,760) 9,940 (5,763) Net (decrease) increase in cash, cash equivalents, and restricted cash (85,621) 18,990 165,472 Cash, cash equivalents, and restricted cash at beginning of period 272,761 253,771 88,299 Cash, cash equivalents, and restricted cash at end of period $ 187,140 $ 272,761 $ 253,771

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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RLP 230 Table of Contents MATCH GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1—ORGANIZATION Match Group, Inc. is a leading provider of dating products available in over 40 languages to our users all over the world through applications and websites that we own and operate. We operate a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as a number of other brands, each designed to increase our users’ likelihood of finding a meaningful connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. Following the sale of our Non-dating segment in March 2017, Match Group has one operating segment, Dating, which is managed as a portfolio of dating brands. As used herein, “Match Group,” the “Company,” “we,” “our,” “us,” and similar terms refer to Match Group, Inc. and its subsidiaries, unless the context indicates otherwise. As of December 31, 2018 , IAC/InterActiveCorp’s (“IAC”) economic ownership interest and voting interest in Match Group were 81.1% and 97.6% , respectively.

NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation The Company prepares its consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The consolidated financial statements include the accounts of the Company, all entities that are wholly-owned by the Company and all entities in which the Company has a controlling financial interest. Intercompany transactions and accounts have been eliminated. For the purposes of these consolidated financial statements, income taxes have been computed for Match Group on an as if stand-alone, separate tax return basis.

Accounting for Investments in Equity Securities Investments in equity securities, other than those of our consolidated subsidiaries, are accounted for at fair value or under the measurement alternative of Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities , upon its adoption on January 1, 2018, with any changes to fair value recognized within other income (expense), net each reporting period. Under the measurement alternative, equity investments without readily determinable fair values are carried at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer and value is generally determined based on a market approach as of the transaction date. An investment will be considered identical or similar if it has identical or similar rights to the equity investments held by the Company. The Company reviews its equity securities for impairment each reporting period when there are qualitative factors or events that indicate possible impairment. Factors we consider in making this determination include negative change in industry and market conditions, financial performance, business prospects, and other relevant events and factors. When indicators of impairment exist, the Company prepares quantitative assessments of the fair value of our equity securities, which require judgment and the use of estimates. When our assessment indicates that the fair value of the security is below the carrying value, the Company writes down the security to its fair value and records the corresponding charge within other income (expense), net. See “ Accounting Pronouncements adopted by the Company” below for further information.

Accounting Estimates Management of the Company is required to make certain estimates, judgments and assumptions during the preparation of its consolidated financial statements in accordance with GAAP. These estimates, judgments and assumptions impact the reported amounts of assets, liabilities, revenue and expenses and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates and judgments, including those related to: the recoverability of goodwill and indefinite-lived intangible assets; the useful lives and recoverability of definite-

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) lived intangible assets and property and equipment; the fair values of equity securities without readily determinable fair values; the carrying value of accounts receivable, including the determination of the allowance for doubtful accounts; the determination of revenue reserves; the fair value of acquisition-related contingent consideration arrangements; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the fair value of and forfeiture rates for stock-based awards, among others. The Company bases its estimates and judgments on historical experience, its forecasts and budgets and other factors that the Company considers relevant.

Revenue Recognition The Company adopted the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, effective January 1, 2018 using the modified retrospective transition method for open contracts as of the date of initial application. See " Accounting Pronouncements adopted by the Company" below for further information. The Company accounts for a contract with a customer when it has approval and commitment from all parties, the rights of the parties and payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Revenue is recognized when control of the promised services is transferred to our customers, and in an amount that reflects the consideration the Company is contractually due in exchange for those services. The Company’s revenue is primarily derived directly from users in the form of recurring subscriptions. Subscription revenue is presented net of credits and credit card chargebacks. Subscribers pay in advance, primarily by credit card or through mobile app stores, and, subject to certain conditions identified in our terms and conditions, generally all purchases are final and nonrefundable. Revenue is initially deferred and is recognized using the straight-line method over the term of the applicable subscription period, which generally ranges from one to six months. Revenue is also earned from online advertising, the purchase of à la carte features and offline events. Online advertising revenue is recognized when an advertisement is displayed. Revenue from the purchase of à la carte features is recognized based on usage. Revenue associated with offline events is recognized when each event occurs. As permitted under the practical expedient available under ASU No. 2014-09, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which the Company recognizes revenue at the amount which we have the right to invoice for services performed.

Transaction Price The objective of determining the transaction price is to estimate the amount of consideration the Company is due in exchange for services, including amounts that are variable. The Company determines the total transaction price, including an estimate of any variable consideration, at contract inception and reassesses this estimate each reporting period. The Company excludes from the measurement of transaction price all taxes assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers. Accordingly, such tax amounts are not included as a component of revenue or cost of revenue. For contracts that have an original duration of one year or less, the Company uses the practical expedient available under ASU No. 2014-09 applicable to such contracts and does not consider the time value of money.

Assets Recognized from the Costs to Obtain a Contract with a Customer The Company has determined that certain costs, primarily mobile app store fees, meet the requirements to be capitalized as a cost of obtaining a contract. The Company recognizes an asset for these costs if we expect to recover those costs. Mobile app store fees are amortized over the period of contract performance. Specifically, the Company capitalizes and amortizes mobile app store fees over the term of the applicable subscription. During the year ended December 31, 2018 , the Company recognized expense of $284.7 million related to the

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) amortization of these costs. The contract asset balance at December 31, 2018 related to costs to obtain a contract is $29.2 million and included in “Other current assets” in the accompanying consolidated balance sheet.

Accounts Receivables, net of allowance for doubtful accounts and revenue reserves Accounts receivable include amounts billed and currently due from customers. The Company maintains an allowance for doubtful accounts to provide for the estimated amount of accounts receivable that will not be collected. The allowance for doubtful accounts is based upon a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, and the specific customer’s ability to pay its obligation. The time between the Company issuance of an invoice and payment due date is not significant; customer payments that are not collected in advance of the transfer of promised services are generally due no later than 30 days from invoice date. The Company also maintains allowances to reserve for potential credits issued to consumers or other revenue adjustments. The amounts of these reserves are based primarily upon historical experience.

Deferred Revenue Deferred revenue consists of advance payments that are received or are contractually due in advance of the Company's performance. The Company’s deferred revenue is reported on a contract by contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the term of the applicable subscription period or expected completion of our performance obligation is one year or less. The deferred revenue balance as of January 1, 2018 was $198.3 million . During the year ended December 31, 2018 , the Company recognized $198.3 million of revenue that was included in the deferred revenue balance as of January 1, 2018. The current deferred revenue balance at December 31, 2018 is $209.9 million . At December 31, 2018 , there is no non-current portion of deferred revenue.

Disaggregation of Revenue

The following table presents disaggregated revenue:

For the Years Ended December 31, 2018 2017 2016

Direct Revenue: North America $ 902,478 $ 741,334 $ 673,944 International 774,693 539,915 393,420 Total Direct Revenue 1,677,171 1,281,249 1,067,364 Indirect Revenue (principally advertising revenue) 52,679 49,412 50,746 Total Revenue $ 1,729,850 $ 1,330,661 $ 1,118,110

Direct Revenue Tinder $ 805,316 $ 403,216 $ 168,522 Other brands 871,855 878,033 898,842 Total Direct Revenue $ 1,677,171 $ 1,281,249 $ 1,067,364

Cash and Cash Equivalents Cash and cash equivalents include cash and short-term investments, with maturities of less than 91 days from the date of purchase. Domestically, cash equivalents include AAA rated government money market funds. Internationally, cash equivalents include money market funds.

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Property and Equipment Property and equipment, including significant improvements, are recorded at cost. Repairs and maintenance costs are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets or, in the case of leasehold improvements, the lease term, if shorter.

Estimated Asset Category Useful Lives Computer equipment and capitalized software 2 to 3 years Furniture and other equipment 5 years Leasehold improvements 6 to 10 years

The Company capitalizes certain internal use software costs including external direct costs utilized in developing or obtaining the software and compensation for personnel directly associated with the development of the software. Capitalization of such costs begins when the preliminary project stage is complete and ceases when the project is substantially complete and ready for its intended purpose. The net book value of capitalized internal use software is $19.5 million and $20.9 million at December 31, 2018 and 2017 , respectively.

Business Combinations The purchase price of each acquisition is attributed to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, including identifiable intangible assets that either arise from a contractual or legal right or are separable from goodwill. The fair value of these intangible assets is based on valuations that use information and assumptions provided by management. The excess purchase price over the net tangible and identifiable intangible assets is recorded as goodwill and is assigned to the reporting unit that is expected to benefit from the combination as of the acquisition date. In connection with certain business combinations, the Company has entered into contingent consideration arrangements that are determined to be part of the purchase price. Each of these arrangements is initially recorded at its fair value at the time of the acquisition and reflected at current fair value for each subsequent reporting period thereafter until settled. The contingent consideration arrangements are generally based upon earnings performance and/or operating metrics. The Company determines the fair value of the contingent consideration arrangements using probability-weighted analyses to determine the amounts of the gross liability, and, if the arrangement is long-term in nature, applying a discount rate that appropriately captures the risk associated with the obligation to determine the net amount reflected in the consolidated financial statements. Significant changes in forecasted earnings or operating metrics would result in a significantly higher or lower fair value measurement. The changes in the remeasured fair value of the contingent consideration arrangements during each reporting period, including the accretion of the discount, if applicable, are recognized in “General and administrative expense” in the accompanying consolidated statement of operations. See “ Note 6—Financial Instruments ” for a discussion of contingent consideration arrangements.

Goodwill and Indefinite-Lived Intangible Assets The Company assesses goodwill on its one reporting unit and indefinite-lived intangible assets for impairment annually as of October 1, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or the fair value of an indefinite-lived intangible asset below its carrying value. When the Company elects to perform a qualitative assessment and concludes it is not more likely than not that the fair value of the reporting unit is less than its carrying value, no further assessment of that reporting unit's goodwill is necessary; otherwise, a quantitative assessment is performed and the fair value of the reporting unit is determined. If the carrying value of the reporting unit exceeds its fair value an impairment loss equal to the excess is recorded. For the Company's annual goodwill test at October 1, 2018, a qualitative assessment of goodwill was performed because the Company concluded it was more likely than not that the fair value of its single reporting

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) unit was in excess of its carrying value. The primary factors that the Company considered in its qualitative assessment were that its market capitalization of $15.7 billion exceeded its carrying value by approximately $15.1 billion and the Company’s strong operating performance. A qualitative assessment was also performed for 2017 and the Company concluded it was more likely than not that the fair value of the reporting unit was in excess of its carrying value. The Company foregoes a qualitative assessment and tests the goodwill for impairment when it concludes that it is more likely than not that there may be an impairment. If needed, the annual or interim quantitative test of the recovery of goodwill involves a comparison of the estimated fair value of the Company's reporting unit to its carrying value, including goodwill. If the estimated fair value of the reporting unit exceeds its carrying value, goodwill of the reporting unit is not impaired. If the carrying value of the reporting unit exceeds its estimated fair value, an impairment loss equal to the excess is recorded. While the Company has the option to qualitatively assess whether it is more likely than not that the fair value of its indefinite-lived intangible assets is less than their carrying values, the Company’s policy is to determine the fair value of each of its indefinite-lived intangible assets annually as of October 1. The Company determines the fair value of its indefinite-lived intangible assets using an avoided royalty DCF valuation analyses. Significant judgments inherent in these analyses include the selection of appropriate royalty and discount rates and estimating the amount and timing of expected future cash flows. The discount rates used in the DCF analyses are intended to reflect the risks inherent in the expected future cash flows generated by the respective intangible assets. The royalty rates used in the DCF analyses are based upon an estimate of the royalty rates that a market participant would pay to license the Company’s trade names and trademarks. Assumptions used in the avoided royalty DCF analyses, including the discount rate and royalty rate, are assessed annually based on the actual and projected cash flows related to the asset, as well as macroeconomic and industry specific factors. The discount rates used in the Company’s annual indefinite-lived impairment assessment ranged from 11% to 26% in both 2018 and 2017 , and the royalty rates used ranged from 3% to 8% in 2018 and 3% to 7% in 2017 . The aggregate indefinite-lived intangible asset balance for which the most recent estimate of fair value is less than 110% of their carrying values is approximately $101.7 million .

Long-Lived Assets and Intangible Assets with Definite Lives

Long-lived assets, which consist of property and equipment and intangible assets with definite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying value is deemed not to be recoverable, an impairment loss is recorded equal to the amount by which the carrying value of the long-lived asset exceeds its fair value. Amortization of definite- lived intangible assets is computed either on a straight-line basis or based on the pattern in which the economic benefits of the asset will be realized.

Fair Value Measurements The Company categorizes its financial instruments measured at fair value into a fair value hierarchy that prioritizes the inputs used in pricing the asset or liability. The three levels of the fair value hierarchy are: • Level 1: Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets. • Level 2: Other inputs, which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices for identical or similar assets or liabilities in markets that are not active, and inputs that are derived principally from or corroborated by observable market data. The fair values of the Company's Level 2 financial assets are primarily obtained from observable market prices for identical underlying securities that may not be actively traded. Certain of these securities may have different market prices from multiple market data sources, in which case an average market price is used. • Level 3: Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available in the circumstances, about the

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assumptions market participants would use in pricing the assets or liabilities. See “ Note 6—Financial Instruments ” for a discussion of fair value measurements made using Level 3 inputs. The Company’s non-financial assets, such as goodwill, intangible assets, and property and equipment, are adjusted to fair value only when an impairment is recognized. The Company’s financial assets, consisting of equity securities without readily determinable fair values, are adjusted to fair value when observable price changes are identified or an impairment is recognized. Such fair value measurements are based predominantly on Level 3 inputs.

Advertising Costs Advertising costs are expensed in the period incurred (when the advertisement first runs for production costs that are initially capitalized) and represent online marketing, including fees paid to search engines and social media sites, offline marketing, which is primarily television advertising, and partner-related payments to those who direct traffic to our websites. Advertising expense is $386.0 million , $340.4 million and $325.0 million for the years ended December 31, 2018 , 2017 and 2016 , respectively.

Legal Costs Legal costs are expensed as incurred.

Income Taxes Match Group is included within IAC’s tax group for purposes of federal and consolidated state income tax return filings. In all periods presented, current income tax provision and deferred income tax benefit have been computed for Match Group on an as if stand-alone, separate return basis. The Company accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company records interest, net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax expense. The Company evaluates and accounts for uncertain tax positions using a two-step approach. Recognition (step one) occurs when the Company concludes that a tax position, based on its technical merits, is more-likely-than-not to be sustainable upon examination. Measurement (step two) determines the amount of the benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. De- recognition of a tax position that was previously recognized would occur when the Company subsequently determines that a tax position no longer meets the more- likely-than-not threshold of being sustained. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act imposes a new minimum tax on global intangible low taxed income (“GILTI”) earned by foreign subsidiaries beginning in 2018. The FASB Staff Q&A, Topic 740 No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred. The Company elects to recognize the tax on GILTI as a period expense in the period the tax is incurred.

Earnings Per Share Basic earnings per share is computed by dividing net earnings attributable to Match Group shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vested resulting in the issuance of common stock that could share in the earnings of the Company.

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Foreign Currency Translation and Transaction Gains and Losses The financial position and operating results of foreign entities whose primary economic environment is based on their local currency are consolidated using the local currency as the functional currency. These local currency assets and liabilities are translated at the rates of exchange as of the balance sheet date, and local currency revenue and expenses of these operations are translated at average rates of exchange during the period. Translation gains and losses are included in accumulated other comprehensive income as a component of shareholders’ equity. Transaction gains and losses resulting from assets and liabilities denominated in a currency other than the functional currency are included in the consolidated statement of operations as a component of “ Other income (expense), net .” Translation gains and losses relating to foreign entities that are liquidated or substantially liquidated are reclassified out of accumulated other comprehensive loss into earnings. Losses of $0.7 million during the year ended December 31, 2017 are included in “ Other income (expense), net ” in the accompanying consolidated statement of operations.

Stock-Based Compensation Stock-based compensation is measured at the grant date based on the fair value of the award and is generally expensed over the requisite service period. See “ Note 11—Stock-based Compensation ” for a discussion of the Company’s stock-based compensation plans.

Redeemable Noncontrolling Interests Noncontrolling interests in the consolidated subsidiaries of the Company are ordinarily reported on the consolidated balance sheet within shareholders’ equity, separately from the Company’s equity. However, securities that are redeemable at the option of the holder and not solely within the control of the issuer must be classified outside of shareholders’ equity. Accordingly, all noncontrolling interests that are redeemable at the option of the holder are presented outside of shareholders’ equity in the accompanying consolidated balance sheet. In connection with the acquisition of certain subsidiaries, current and former senior management of these businesses has retained an ownership interest. The Company is party to fair value put and call arrangements with respect to these interests. These put and call arrangements allow management of these businesses to require the Company to purchase these interests or allow the Company to acquire such interests at fair value, respectively. The put arrangements do not meet the definition of a derivative instrument as the put agreements do not provide for net settlement. No put and call arrangements were exercised during 2018 , 2017 or 2016 . These put arrangements are exercisable by the counter-party outside the control of the Company. Accordingly, to the extent that the fair value of these interests exceeds the value determined by normal noncontrolling interest accounting, the value of such interests is adjusted to fair value with a corresponding adjustment to additional paid-in capital. During the years ended December 31, 2018 , 2017 and 2016 , the Company recorded adjustments of $(2.5) million , $(0.1) million and $0.4 million , respectively, to (decrease) increase these interests to fair value. Fair value determinations require high levels of judgment and are based on various valuation techniques, including market comparables and discounted cash flow projections. At December 31, 2018, no redeemable noncontrolling interest remained outstanding.

Certain Risks and Concentrations The Company’s business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud. Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash and cash equivalents. Cash and cash equivalents are principally maintained with financial institutions that are not covered by deposit insurance.

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Recent Accounting Pronouncements

Accounting Pronouncements adopted by the Company In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers . ASU No. 2014-09 superseded nearly all previous revenue recognition guidance. The Company adopted ASU No. 2014-09 as of January 1, 2018 using the modified retrospective transition method for open contracts as of the date of initial application. There is no cumulative impact to the Company’s retained earnings at January 1, 2018. In January 2016, the FASB issued ASU No. 2016-01, which updates certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Under ASU No. 2016-01, equity securities, other than those of our consolidated subsidiaries, will be measured at fair value with changes in fair value recognized in the statement of operations each reporting period. ASU No. 2016-01 is effective for reporting periods beginning after December 15, 2017. The Company’s adoption of ASU No. 2016-01 effective January 1, 2018 did not have a material effect on its consolidated financial statements. The adoption of ASU No. 2016-01 may increase the volatility of our results of operations as a result of the remeasurement of these investments. In November 2016, the FASB issued ASU No. 2016-18, Restricted Cash, which requires companies to explain the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows. Therefore, amounts generally described as restricted cash or restricted cash equivalents are combined with unrestricted cash and cash equivalents when reconciling the beginning and end of period balances on the statement of cash flows. Additionally, when cash, cash equivalents, restricted cash, and restricted cash equivalents are presented within different captions on the balance sheet, a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet is required. ASU No. 2016-18 is effective for reporting periods beginning after December 15, 2017. The Company’s adoption of ASU No. 2016-18 effective January 1, 2018, on a retrospective basis, did not have a material effect on its consolidated financial statements. See “ Note 14—Supplemental Cash Flow Information ” for a reconciliation of cash, cash equivalents, and restricted cash included in the consolidated statement of cash flows. In June 2018, the FASB issued ASU No. 2018-07, Improvements to Nonemployee Share-Based Payment Accounting , which largely aligns the measurement and classification guidance for share-based payments granted to non-employees with the guidance for share-based payments granted to employees. The new guidance supersedes Subtopic 505-50, Equity - Equity-Based payments to Nonemployees . ASU No. 2018-07 is effective for reporting periods beginning after December 15, 2018, with early adoption permitted. The Company adopted ASU No. 2018-07 effective April 1, 2018 and its adoption did not have a material effect on its consolidated financial statements. The effect of the adoption of ASU No. 2018-07 will be to minimize the volatility of expense related to stock-based awards to non-employees in the future. In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which clarifies the accounting for implementation costs in a cloud computing arrangement that is a services contract to follow the internal-use software guidance of ASC 350-40, Intangibles - Goodwill and Other, Internal- use Software . The provisions of ASU No. 2018-15 are effective for reporting periods beginning after December 15, 2019, including interim periods and early adoption is permitted, including adoption in any interim period. The provisions of ASU No. 2018-15 may be adopted prospectively to all implementation costs incurred after the date of adoption or retrospectively. The Company early adopted the provisions of ASU No. 2018-15 on October 1, 2018 prospectively and the adoption of this standard did not have material impact on its consolidated financial statements. Accounting Pronouncements not yet adopted by the Company In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which supersedes existing guidance on accounting for leases and generally requires all leases to be recognized in the statement of financial position. The provisions of ASU No. 2016-02 are effective for reporting periods beginning after December 15, 2018. The Company will adopt the new lease guidance effective January 1, 2019. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, which provides the option of an additional transition method that allows entities to initially apply the new lease guidance at the adoption date and recognize a

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company expects to implement the transition method option provided by ASU No. 2018-11. The Company is not a lessor, has no capitalized leases, and does not expect to enter into any capitalized leases prior to the adoption of ASU No. 2016-02. Accordingly, the Company does not expect the amount or classification of rent expense in its statement of operations to be affected by the adoption of ASU No. 2016-02. The primary effect of the adoption of ASU No. 2016-02 will be the recognition of a right of use asset and related lease liability to reflect the Company's rights and obligations under its operating leases. The Company will also be required to provide the additional disclosures stipulated in ASU No. 2016-02. The adoption of ASU No. 2016-02 will not have an impact on the leverage calculation set forth in any of the agreements governing the outstanding debt of the Company, or our credit agreement, because in each circumstance, the leverage calculations are not affected by the lease liability that will be recorded upon adoption of the new standard. While the Company's evaluation of the impact of the adoption of ASU No. 2016-02 on its consolidated financial statements continues, outlined below is a summary of the status of the Company's progress: • the Company has selected a software solution to implement ASU No. 2016-02;

• the Company has input lease summaries into the software solution;

• the Company is assessing the other inputs required in connection with the adoption of ASU No. 2016-02; and

• the Company is developing its accounting policy, procedures and internal controls related to the new standard.

Development of the selected software solution by the third-party vendor is ongoing. While significant progress has been made, certain key deliverables remain, which the Company expects to be delivered in March 2019. The Company’s ability to adopt ASU No. 2016-02 in an efficient and effective manner is contingent upon the delivery and testing of these remaining deliverables. The Company has been able to develop a preliminary estimate of the impact of the adoption of ASU No. 2016-02 through the use of the third-party software solution, supplemented by our user acceptance testing. This preliminary estimate is that a $55 million right-of-use asset and related lease liability will be recognized on the Company’s consolidated balance sheet upon adoption. The Company does not expect a material impact on its consolidated statement of operations or its consolidated statement of cash flows.

Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.

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NOTE 3—INCOME TAXES Match Group is included within IAC's tax group for purposes of federal and consolidated state income tax return filings. In all periods presented, current income tax provision and deferred income tax benefit have been computed for Match Group on an as if stand-alone, separate return basis. Match Group’s payments to IAC for its share of IAC’s consolidated federal and state tax return liabilities have been reflected within cash flows from operating activities in the accompanying consolidated statement of cash flows. U.S. and foreign earnings before income taxes are as follows:

Years Ended December 31, 2018 2017 2016 (In thousands) U.S. $ 392,798 $ 143,286 $ 109,457 Foreign 94,844 108,839 131,759 Total $ 487,642 $ 252,125 $ 241,216

The components of the provision (benefit) for income taxes are as follows:

Years Ended December 31, 2018 2017 2016 (In thousands) Current income tax provision (benefit): Federal $ (688) $ (11,533) $ 44,782 State 341 (512) 4,427 Foreign 34,659 26,444 23,964 Current income tax provision 34,312 14,399 73,173 Deferred income tax benefit: Federal (11,158) (102,337) (2,119) State (1,846) (15,731) (280) Foreign (6,635) (183) (7,899) Deferred income tax benefit (19,639) (118,251) (10,298) Income tax provision (benefit) $ 14,673 $ (103,852) $ 62,875

For the year ended December 31, 2018 , the current income tax payable was reduced by $94.7 million for excess tax deductions attributable to stock-based compensation and the related income tax benefit was recorded as a decrease to the current income tax provision. For the year ended December 31, 2017, the deferred tax asset for net operating losses (“NOLs”) was increased by $279.7 million for excess tax deductions attributable to stock-based compensation and the related income tax benefit was recorded as a component of the deferred income tax benefit. For the year ended December 31, 2016, the current income tax payable was reduced by $29.7 million for excess tax deductions attributable to stock-based compensation and the related income tax benefit was recorded as an increase to additional paid-in capital. The tax effects of cumulative temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below. The valuation allowance is primarily related to deferred tax assets for tax credits and net operating losses.

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December 31, 2018 2017 (In thousands) Deferred tax assets: Net operating loss carryforwards $ 127,630 $ 143,474 Tax credit carryforwards 43,501 6,629 Stock-based compensation 12,684 13,236 Other 26,770 12,423 Total deferred tax assets 210,585 175,762 Less valuation allowance (47,448) (24,795) Net deferred tax assets 163,137 150,967 Deferred tax liabilities: Intangible assets (45,363) (52,838) Fixed assets (2,686) (3,164) Other (915) (244) Total deferred tax liabilities (48,964) (56,246) Net deferred tax assets $ 114,173 $ 94,721

At December 31, 2018 , the Company has federal and state net operating losses (“NOLs”) of $458.4 million and $169.8 million , respectively. If not utilized, $10.3 million of the federal NOLs can be carried forward indefinitely, and $448.1 million will expire at various times primarily between 2031 and 2037. The state NOLs will expire at various times primarily between 2032 and 2037. Federal and state NOLs of $434.3 million and $148.5 million , respectively, can be used against future taxable income without restriction and the remaining NOLs will be subject to limitations under Section 382 of the Internal Revenue Code, separate return limitations, and applicable state law. At December 31, 2018 , the Company has foreign NOLs of $79.0 million available to offset future income. Of these foreign NOLs, $74.2 million can be carried forward indefinitely and $4.8 million will expire at various times between 2019 and 2028. During 2018 , the Company recognized tax benefits related to NOLs of $6.7 million . At December 31, 2018, the Company has federal capital losses of $12.2 million . If not utilized, the capital losses will expire during 2021 and 2022. Utilization of capital losses will be limited to the Company’s ability to generate future capital gains. At December 31, 2018, the Company has tax credit carryforwards of $51.1 million . Of this amount, $29.0 million relates to foreign tax credits, $21.5 million relates to federal and state tax credits for research activities, and $0.6 million to various other credits. Of these credit carryforwards, $8.4 million can be carried forward indefinitely and $42.7 million will expire at various times primarily between 2021 and 2038. The Company regularly assesses the realizability of deferred tax assets considering all available evidence, including, to the extent applicable, the nature, frequency and severity of prior cumulative losses, forecasts of future taxable income, tax filing status, the duration of statutory carryforward periods, available tax planning and historical experience. During 2018 , the Company’s valuation allowance increased by $22.7 million primarily due to an increase in foreign tax credits, and foreign interest deduction carryforwards. At December 31, 2018 , the Company has a valuation allowance of $47.4 million related to the portion of credits, NOLs, and other items for which it is more likely than not that the tax benefit will not be realized.

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A reconciliation of the income tax provision (benefit) to the amounts computed by applying the statutory federal income tax rate to earnings before income taxes is shown as follows:

Years Ended December 31, 2018 2017 2016 (In thousands) Income tax provision at the federal statutory rate of 21% (35% for 2017 and 2016) $ 102,405 $ 88,244 $ 84,425 State income taxes, net of effect of federal tax benefit 7,742 2,471 2,804 Foreign income taxed at a different statutory rate 13,129 (15,014) (13,761) Foreign rate change 278 (1,523) (4,454) Transition tax (3,178) 23,748 — Deferred tax adjustment for enacted changes in tax laws and rates (142) 68,594 — Equity compensation (92,140) (278,343) 3,247 Non-taxable foreign currency exchange gains and losses (2,086) 6,231 (6,837) Other, net (11,335) 1,740 (2,549) Income tax provision (benefit) $ 14,673 $ (103,852) $ 62,875

A reconciliation of the beginning and ending amount of unrecognized tax benefits, including penalties but excluding interest, is as follows:

December 31, 2018 2017 2016 (In thousands) Balance at January 1 $ 25,063 $ 25,913 $ 24,908 Additions based on tax positions related to the current year 8,589 697 1,706 Additions for tax positions of prior years 3,901 1,104 1,414 Reductions for tax positions of prior years (134) (1,233) (783) Settlements — — (258) Expiration of applicable statute of limitations (1,740) (1,418) (1,074) Balance at December 31 $ 35,679 $ 25,063 $ 25,913

The Company recognizes interest and, if applicable, penalties related to unrecognized tax benefits in the income tax provision. At December 31, 2018 and 2017 , the Company had accrued $1.9 million and $1.8 million , respectively, for the payment of interest. At December 31, 2018 and 2017 , the Company had accrued $1.2 million and $1.5 million , respectively, for penalties. Match Group is routinely under audit by federal, state, local and foreign authorities in the area of income tax as a result of previously filed separate company tax returns and consolidated tax returns with IAC. These audits include questioning the timing and the amount of income and deductions and the allocation of income and deductions among various tax jurisdictions. The Internal Revenue Service (“IRS”) is currently auditing IAC’s federal income tax returns for the years ended December 31, 2010 through 2016, which includes the operations of Match Group. The statute of limitations for the years 2010 through 2015 have been extended to December 31, 2019. Various other jurisdictions are open to examination for tax years beginning with 2009. Income taxes payable include reserves considered sufficient to pay assessments that may result from examination of prior year tax returns. We consider many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustment, and which may not accurately anticipate actual outcomes. Although management currently believes changes to reserves from period to period and differences between amounts paid, if any, upon resolution of issues raised in audits and amounts previously provided will not have a material impact

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) on the liquidity, results of operations, or financial condition of the Company, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. At December 31, 2018 and 2017 , unrecognized tax benefits, including interest, were $37.6 million and $26.8 million , respectively. At December 31, 2018 and 2017 , approximately $22.6 million and $17.6 million , respectively, were included in unrecognized tax benefits for tax positions included in IAC’s consolidated tax return filings. If unrecognized tax benefits at December 31, 2018 are subsequently recognized, $35.6 million , net of related deferred tax assets and interest, would reduce income tax expense. The comparable amount as of December 31, 2017 was $25.3 million . The Company believes that it is reasonably possible that its unrecognized tax benefits could decrease by approximately $16.8 million by December 31, 2019 , primarily due to settlements and expirations of statutes of limitations. On December 22, 2017, the U.S. enacted the Tax Act, which subjected to U.S. taxation certain previously deferred earnings of foreign subsidiaries as of December 31, 2017 (“Transition Tax”) and implemented a number of changes that take effect on January 1, 2018, including but not limited to, a reduction of the U.S. federal corporate tax rate from 35% to 21% and a new minimum tax on GILTI earned by foreign subsidiaries. The Company was able to make a reasonable estimate of the Transition Tax and recorded a provisional transition tax expense in 2017. During 2018, the Company finalized this calculation, which resulted in a $3.2 million reduction in the Transition Tax. The net reduction in the Transition Tax was due primarily to the utilization of additional foreign tax credits, partially offset by additional taxable earnings and profits of our foreign subsidiaries based on recently issued IRS guidance. The adjustment of the Company’s provisional tax expense was reflected as a change in estimate in its results in the period in which the change in estimate is made in accordance with Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act . Despite the completion of the Company’s accounting for the Tax Act under SAB 118, many aspects of the law remain unclear and we expect ongoing guidance to be issued at both the federal and state levels. We will continue to monitor and assess the impact of any new developments. At December 31, 2018 , the Company has $103.1 million in foreign cash that can be repatriated without any significant tax consequences. The Company has not provided for approximately $1.0 million of deferred taxes as the foreign cash earnings are indefinitely reinvested outside the U.S. The Company reassesses its intention to remit or permanently reinvest these cash earnings each reporting period; any required adjustment to the income tax provision would be reflected in the period that the Company changes this intention.

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NOTE 4—DISCONTINUED OPERATIONS On March 31, 2017, Match Group sold its Non-dating business, which operated under the umbrella of The Princeton Review, to ST Unitas, a global education technology company. We recognized a loss on the sale of the business in the years ended December 31, 2018 and 2017 of $0.4 million (reflecting an adjustment to the loss on sale recorded in 2017), and $2.1 million , respectively, which is reported within discontinued operations. The key components of loss from discontinued operations for the years ended December 31, 2018, 2017 and 2016 consist of the following:

For the years Ended December 31, 2018 2017 2016 (In thousands) Revenue $ — $ 23,980 $ 104,416 Operating costs and expenses — (29,601) (114,057) Operating loss — (5,621) (9,641) Other (expense) income (378) (2,136) 11 Income tax benefit — 2,107 3,302 Loss from discontinued operations $ (378) $ (5,650) $ (6,328)

NOTE 5—GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible assets, net, are as follows:

December 31, 2018 2017 (In thousands) Goodwill $ 1,244,758 $ 1,247,644 Intangible assets with indefinite lives 230,684 228,296 Intangible assets with definite lives, net 6,956 2,049 Total goodwill and intangible assets, net $ 1,482,398 $ 1,477,989

The following table presents the balance of goodwill, including the changes in the carrying value of goodwill, for the years ended December 31, 2018 and 2017 :

December 31, 2018 2017 (In thousands) Balance at January 1 $ 1,247,644 $ 1,206,447 Additions 11,187 120 Deductions — (29) Foreign Exchange Translation (14,073) 41,106 Balance at December 31 $ 1,244,758 $ 1,247,644

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Intangible assets with indefinite lives are trade names and trademarks acquired in various acquisitions. At December 31, 2018 and 2017 , intangible assets with definite lives are as follows:

December 31, 2018 Gross Weighted-Average Carrying Accumulated Useful Life Amount Amortization Net (Years) (In thousands) Patent and technology $ 10,715 $ (4,859) $ 5,856 8.5 Trade names 4,814 (4,814) — — Customer lists 270 (270) — — Other 3,000 (1,900) 1,100 5.0 Total $ 18,799 $ (11,843) $ 6,956 7.9

December 31, 2017 Gross Weighted-Average Carrying Accumulated Useful Life Amount Amortization Net (Years) (In thousands) Trade names $ 5,830 $ (5,765) $ 65 3.0 Technology 4,592 (4,588) 4 2.0 Other 3,280 (1,300) 1,980 4.4 Total $ 13,702 $ (11,653) $ 2,049 4.4

At December 31, 2018 , amortization of intangible assets with definite lives is estimated to be as follows:

(In thousands) 2019 $ 1,645 2020 1,245 2021 645 2022 645 2023 and thereafter 2,776 Total $ 6,956

NOTE 6—FINANCIAL INSTRUMENTS

Marketable Securities During the second quarter of 2016, the Company sold its marketable security in its entirety. Proceeds and gross realized gains from the sale of the available- for-sale marketable security were $11.7 million and $3.1 million , respectively, for the year ended December 31, 2016.

Long-term investments At December 31, 2018 , the carrying value of the Company’s investments in equity securities without readily determinable fair values totaled $9.1 million and at December 31, 2017 , the carrying value of the Company’s cost method investments totaled $11.1 million , both of which are included in “Long-term investments” in the accompanying consolidated balance sheet.

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Equity securities without readily determinable fair values For all equity securities without readily determinable fair values as of December 31, 2018 , the Company has elected the measurement alternative. As of December 31, 2018 , under the measurement alternative election, the Company did not identify any fair value adjustments using observable price changes in orderly transactions or an identical or similar investment of the same issuer. During the year ended December 31, 2018 , we recognized an impairment charge of $2.1 million , which is included in “ Other income (expense), net ” in the accompanying consolidated statement of operations.

Cost method investments (prior to the adoption of ASU No. 2016-01) During the year ended December 31, 2017 , we recognized an other-than-temporary impairment charge of $2.3 million related to certain cost method investments as a result of our assessment of the near-term prospects and financial condition of the investees. On October 23, 2017, a cost method investment with a carrying value of $51.1 million was sold for net proceeds of $60.2 million resulting in a pre-tax gain of $9.1 million , which is included in “ Other income (expense), net ” in the accompanying consolidated statement of operations.

Fair Value Measurements The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis:

December 31, 2018 Quoted Market Prices in Active Significant Markets for Significant Other Unobservable Total Identical Assets Observable Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Measurements (In thousands) Assets: Cash equivalents: Money market funds $ 72,546 $ — $ — $ 72,546

Liabilities: Contingent consideration arrangements $ — $ — $ (1,974) $ (1,974)

December 31, 2017 Quoted Market Prices in Active Significant Markets for Significant Other Unobservable Total Identical Assets Observable Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Measurements (In thousands) Assets: Cash equivalents: Money market funds $ 71,197 $ — $ — $ 71,197 Time deposits — 35,023 — 35,023 Total $ 71,197 $ 35,023 $ — $ 106,220

Liabilities: Contingent consideration arrangements $ — $ — $ (2,647) $ (2,647)

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The following table presents the changes in the Company’s financial instruments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

December 31, 2018 2017 Contingent Consideration Arrangements (In thousands) Balance at January 1 $ (2,647) $ (19,418) Total net (losses): Fair value adjustments (320) (5,253) Included in other comprehensive income (loss) 45 (1,405) Settlements 948 23,429 Balance at December 31 $ (1,974) $ (2,647)

Contingent consideration arrangements As of December 31, 2018 , there is one contingent consideration arrangement, related to a business acquisition, for $2.0 million . This arrangement has been earned in full as of December 31, 2018 and will be paid by the Company in the first quarter of 2019. The current contingent consideration arrangement is based upon earnings performance. Contingent consideration arrangements related to other previous acquisitions were based upon earnings performance and/or operating metrics. The Company determined the fair values of contingent consideration arrangements using probability-weighted analyses to determine the amounts of the gross liability, and, for arrangements that are long-term in nature, applying a discount rate, that appropriately captures the risks associated with the obligation to determine the net amount reflected in the consolidated financial statements. The fair values of the current contingent consideration arrangement at both December 31, 2018 and 2017 reflect a discount rate of 12% . The fair value of the contingent consideration arrangements is sensitive to changes in the forecasts of earnings and changes in discount rates. The Company remeasures the fair value of the contingent consideration arrangements each reporting period, including the accretion of the discount, if applicable, and changes are recognized in “General and administrative expense” in the accompanying consolidated statement of operations. The contingent consideration arrangement liability at December 31, 2018 and 2017 includes a current portion of $2.0 million and $0.6 million , respectively, which is included in “Accrued expenses and other current liabilities” and a non-current portion of $2.0 million at December 31, 2017 , which is included in “Other long-term liabilities” in the accompanying consolidated balance sheet. At December 31, 2018 , there is no non-current portion of the contingent consideration liability.

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Financial instruments measured at fair value only for disclosure purposes The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes.

December 31, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value (In thousands) Long-term debt, net (a) $ (1,515,911) $ (1,513,683) $ (1,252,696) $ (1,320,289) ______

(a) At December 31, 2018 and December 31, 2017 , the carrying value of long-term debt, net includes unamortized original issue discount and debt issuance costs of $19.1 million and $22.3 million , respectively.

The fair value of long-term debt, net, excluding the revolving credit facility (the “Credit Facility”), is estimated using observable market prices or indices for similar liabilities, which are Level 2 inputs. We consider the Credit Facility, which has a variable interest rate, to have a fair value equal to its carrying value.

NOTE 7—LONG-TERM DEBT, NET Long-term debt, net consists of:

December 31, 2018 2017 (In thousands) Credit Facility due December 7, 2023 $ 260,000 $ — Term Loan due November 16, 2022 425,000 425,000 6.375% Senior Notes due June 1, 2024 (the “6.375% Senior Notes”); interest payable each June 1 and December 1 400,000 400,000 5.00% Senior Notes due December 15, 2027 (the “5.00% Senior Notes”); interest payable each June 15 and December 15 450,000 450,000 Total long-term debt 1,535,000 1,275,000 Less: Unamortized original issue discount and original issue premium, net 7,352 8,668 Less: Unamortized debt issuance costs 11,737 13,636 Total long-term debt, net $ 1,515,911 $ 1,252,696

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Senior Notes : We issued the 5.00% Senior Notes on December 4, 2017. These notes were issued at 99.027% of par. The proceeds of $445.6 million , along with cash on hand, were used to redeem the $445.2 million of outstanding senior notes due in 2022 (the “ 6.75% Senior Notes”) and pay the related call premium. At any time prior to December 15, 2022, these notes may be redeemed at a redemption price equal to the sum of the principal amount, plus accrued and unpaid interest and a make-whole premium set forth in the indenture governing the notes. Thereafter, these notes may be redeemed at the redemption prices set forth below, together with accrued and unpaid interest thereon to the applicable redemption date, if redeemed during the twelve-month period beginning on December 15 of the years indicated below:

Beginning December 15, Percentage 2022 102.500% 2023 101.667% 2024 100.833% 2025 and thereafter 100.000%

The 6.375% Senior Notes were issued on June 1, 2016. The proceeds of $400 million were used to prepay a portion of indebtedness outstanding under the Term Loan. At any time prior to June 1, 2019, these notes may be redeemed at a redemption price equal to the sum of the principal amount thereof, plus accrued and unpaid interest and a make-whole premium set forth in the indenture governing the notes. Thereafter, these notes may be redeemed at the redemption prices set forth below, together with accrued and unpaid interest thereon to the applicable redemption date, if redeemed during the twelve-month period beginning on June 1 of the years indicated below:

Beginning June 1, Percentage 2019 104.781% 2020 103.188% 2021 101.594% 2022 and thereafter 100.000%

The 6.75% Senior Notes were redeemed on December 17, 2017 with proceeds from the 5.00% Senior Notes and cash on hand. The related call premium of $10.6 million is included in “Other (expense) income, net” in the consolidated financial statements. The indentures governing the 5.00% and 6.375% Senior Notes contain covenants that would limit the Company’s ability to pay dividends or to make distributions and repurchase or redeem Match Group stock in the event a default has occurred or Match Group’s leverage ratio (as defined in the indentures) exceeds 5.0 to 1.0. The 5.00% and 6.375% Senior Notes rate equally in right of payment. At December 31, 2018 , there were no limitations pursuant thereto. There are additional covenants that limit the ability of the Company and its subsidiaries to, among other things, (i) incur indebtedness, make investments, or sell assets in the event the Company is not in compliance with certain ratios set forth in the indenture, and (ii) incur liens, enter into agreements restricting the ability of the Company’s subsidiaries to pay dividends, enter into transactions with affiliates and consolidate, merge or sell substantially all of their assets. Term Loan and Credit Facility : At both December 31, 2018 and 2017 , the outstanding balance on the Term Loan was $425 million . The Term Loan bears interest at LIBOR plus 2.50% and has a LIBOR floor to 0.00% . The interest rate at December 31, 2018 and 2017 is 5.09% and 3.85% , respectively. Interest payments are due at least quarterly through the term of the loan. The Term Loan provides for additional annual principal payments as part of an excess cash flow sweep provision, the amount of which, if any, is governed by the secured net leverage ratio contained in the Credit Agreement.

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On December 7, 2018, the $500 million Credit Facility was amended to, among other things, modify the leverage ratio levels in the pricing grid used to calculate the applicable rate and extend its maturity to December 7, 2023. At December 31, 2018 , there were outstanding borrowings of $260 million under the Credit Facility, bearing interest at LIBOR plus 1.50% , or 3.97% . At December 31, 2017, there was no outstanding borrowings under the Credit Facility. Borrowings under the Credit Facility bear interest, at the Company’s option, at a base rate or LIBOR, in each case plus an applicable margin, which is determined by reference to a pricing grid based on the Company’s consolidated net leverage ratio. The annual commitment fee on undrawn funds, based on the current leverage ratio, is 25 basis points and 30 basis points at December 31, 2018 and 2017 , respectively. The terms of the Credit Facility require the Company to maintain a consolidated net leverage ratio of not more than 5.0 to 1.0 and a minimum interest coverage ratio of not less than 2.0 to 1.0 (in each case as defined in the agreement). The Credit Facility and Term Loan contain covenants that would limit our ability to pay dividends, make distributions or repurchase stock in the event the secured net leverage ratio exceeds 2.0 to 1.0, while the Term Loan remains outstanding and, thereafter, if the consolidated net leverage ratio exceeds 4.0 to 1.0, or in the event a default has occurred. There are additional covenants under the Credit Facility and the Term Loan that limit the ability of the Company and its subsidiaries to, among other things, incur indebtedness, pay dividends or make distributions. Obligations under the Credit Facility and Term Loan are unconditionally guaranteed by certain Match Group wholly-owned domestic subsidiaries and are secured by the stock of certain Match Group domestic and foreign subsidiaries. The Term Loan and outstanding borrowings, if any, under the Credit Facility rank equally with each other, and have priority over the 5.00% and 6.375% Senior Notes to the extent of the value of the assets securing the borrowings under the Credit Agreement. Long-term debt maturities:

Years Ending December 31, (In thousands) 2022 $ 425,000 2023 260,000 2024 400,000 2027 450,000 Total 1,535,000 Less: Unamortized original issue discount 7,352 Less: Unamortized debt issuance costs 11,737 Total long-term debt, net $ 1,515,911

NOTE 8—SHAREHOLDERS' EQUITY

Description of Common Stock, Class B Convertible Common Stock and Class C Common Stock The rights of holders of Match Group common stock, Class B common stock and Class C common stock are identical, except for voting rights, conversion rights and dividend rights. Holders of common stock are entitled to one vote per share on all matters to be voted upon by the stockholders. Holders of Class B common stock are entitled to ten votes per share on all matters to be voted upon by stockholders. Holders of Class C common stock have no voting rights, except as otherwise required by the laws of the State of Delaware, in which case holders of Class C common stock are entitled to one one-hundredth ( 1 /100) of a vote per share. Holders of the Company’s common stock, Class B common stock and Class C common stock do not have cumulative voting rights in the election of directors. Shares of Match Group’s Class B common stock are convertible into shares of our common stock at the option of the holder at any time on a share for share basis. Such conversion ratio will in all events be equitably preserved in the event of any recapitalization of Match Group by means of a stock dividend on, or a stock split or combination of, our outstanding common stock or Class B common stock, or in the event of any merger, consolidation or other reorganization of Match Group with another corporation. Upon the conversion of a share of our Class B common stock into a share of our common stock, the applicable share of Class B common stock

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) will be retired and will not be subject to reissue. Shares of common stock and Class C common stock have no conversion rights. The holders of shares of Match Group common stock, Class B common stock and Class C common stock are entitled to receive, share for share, such dividends as may be declared by Match Group’s Board of Directors out of funds legally available therefor. In the event of a liquidation, dissolution or winding up, holders of the Company’s common stock, Class B common stock and Class C common stock are entitled to receive ratably the assets available for distribution to the stockholders after payment of all liabilities and accrued but unpaid dividends and liquidation preferences on any outstanding preferred stock. At December 31, 2018 , IAC holds 209.9 million shares of our Class B common stock, representing 100% of our outstanding Class B common stock, and 15.8 million shares of our common stock, representing 23.1% of our outstanding common stock. IAC’s ownership interest is 81.1% and IAC holds 97.6% of the outstanding total voting power of the Company. In the event that Match Group issues or proposes to issue any shares of Match Group common stock, Class B common stock or Class C common stock (with certain limited exceptions), including shares issued upon the exercise, conversion or exchange of options, warrants and convertible securities, IAC will generally have a purchase right that permits it to purchase for fair market value, as defined in an investor rights agreement, up to such number of shares of the same class as the issued shares as would (i) enable IAC to maintain the same ownership interest in the Company that it had immediately prior to such issuance or proposed issuance, with respect to issuances of our voting capital stock, or (ii) enable IAC to maintain ownership of at least 80.1% of each class of the Company’s non- voting capital stock, with respect to issuances of our non-voting capital stock.

Special Dividend On December 19, 2018, we paid a special dividend of $2.00 per share on Match Group common stock and Class B common stock, to stockholders of record as of the close of business on December 5, 2018, in the aggregate amount equal to $556.4 million , which was funded with cash on hand and borrowings under our revolving credit facility.

Reserved Common Shares In connection with equity compensation plans, 55.1 million shares of Match Group common stock are reserved at December 31, 2018 .

Common Stock Repurchases During 2018, the Company repurchased 3.1 million shares of Match Group common stock for aggregate consideration, on a trade date basis, of $133.5 million . No repurchases were made during 2017 or 2016. In May 2017, Match Group’s Board of Directors authorized the repurchase of 6.0 million shares of Match Group common stock. At December 31, 2018 , the Company has approximately 2.9 million shares remaining in its share repurchase authorization.

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NOTE 9—ACCUMULATED OTHER COMPREHENSIVE LOSS The following tables present the components of accumulated other comprehensive loss and items reclassified out of accumulated other comprehensive loss into earnings:

Year Ended December 31, 2018 Foreign Currency Accumulated Other Translation Adjustment Comprehensive Loss (In thousands) Balance at January 1 $ (112,318) $ (112,318) Other comprehensive loss (24,848) (24,848) Balance at December 31 $ (137,166) $ (137,166)

Year Ended December 31, 2017 Accumulated Other Foreign Currency Comprehensive (Loss) Translation Adjustment Income (In thousands) Balance at January 1 $ (176,384) $ (176,384) Other comprehensive income before reclassifications 63,352 63,352 Amounts reclassified into earnings 714 714 Net period other comprehensive income 64,066 64,066 Balance at December 31 $ (112,318) $ (112,318)

Year Ended December 31, 2016 Unrealized Gain (Loss) Foreign Currency on Available-For-Sale Accumulated Other Translation Adjustment Security Comprehensive Loss (In thousands) Balance at January 1 $ (139,784) $ 2,964 $ (136,820) Other comprehensive (loss) income before reclassifications (36,600) 94 (36,506) Gain on sale of available-for-sale security reclassified into earnings — (3,058) (3,058) Net period other comprehensive loss (36,600) (2,964) (39,564) Balance at December 31 $ (176,384) $ — $ (176,384)

At December 31, 2018 , 2017 and 2016 , there was no tax benefit or provision on the accumulated other comprehensive loss.

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NOTE 10—EARNINGS PER SHARE The following table sets forth the computation of the basic and diluted earnings per share attributable to Match Group shareholders:

Years Ended December 31, 2018 2017 2016 Basic Diluted Basic Diluted Basic Diluted (In thousands, except per share data) Numerator Net earnings from continuing operations $ 472,969 $ 472,969 $ 355,977 $ 355,977 $ 178,341 $ 178,341 Net loss (earnings) attributable to noncontrolling interests 5,348 5,348 (179) (179) (562) (562) Net earnings from continuing operations attributable to Match Group, Inc. shareholders 478,317 478,317 355,798 355,798 177,779 177,779 Loss from discontinued operations, net of tax (378) (378) (5,650) (5,650) (6,328) (6,328) Net earnings attributable to Match Group, Inc. shareholders $ 477,939 $ 477,939 $ 350,148 $ 350,148 $ 171,451 $ 171,451

Denominator Basic weighted average common shares outstanding 277,005 277,005 264,014 264,014 251,522 251,522 Dilutive securities including stock options, RSUs, and subsidiary denominated equity awards (a)(b) — 19,770 — 32,062 — 18,203 Dilutive weighted average common shares outstanding 277,005 296,775 264,014 296,076 251,522 269,725

Earnings (loss) per share: Earnings per share from continuing operations $ 1.73 $ 1.61 $ 1.35 $ 1.20 $ 0.71 $ 0.66 Loss per share from discontinued operations, net of tax $ — $ — $ (0.02) $ (0.02) $ (0.03) $ (0.02) Earnings per share attributable to Match Group, Inc. shareholders $ 1.73 $ 1.61 $ 1.33 $ 1.18 $ 0.68 $ 0.64

______(a) If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and subsidiary denominated equity and the vesting of restricted stock units (“RSUs”). For the years ended December 31, 2018 , 2017 , and 2016 , 0.2

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million , 4.7 million and 6.1 million potentially dilutive securities, respectively, are excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. (b) Market-based awards and performance-based stock options (“PSOs”) and restricted stock units (“PSUs”) are considered contingently issuable shares. Market-based awards, PSOs and PSUs are included in the denominator for earnings per share if (i) the applicable market or performance condition(s) has been met and (ii) the inclusion of the market-based award, PSOs and PSUs are dilutive for the respective reporting periods. For the years ended December 31, 2018 , 2017 , and 2016 , 0.7 million , 3.8 million , and 2.5 million market-based awards, PSOs and PSUs, respectively, were excluded from the calculation of diluted earnings per share because the market or performance conditions had not been met.

NOTE 11—STOCK-BASED COMPENSATION The Company currently has two active stock and annual incentive plans, one which became effective in 2015 upon the completion of the IPO and another plan approved by shareholders in 2017. The 2015 plan replaced two historical plans that governed equity awards granted prior to the IPO. The 2015 plan covers stock options to acquire shares of Match Group common stock and RSUs granted pursuant to the historical plans and stock options and stock settled stock appreciation rights denominated in the equity of certain of our subsidiaries granted prior to the IPO, as well as provides for the future grant of these and other equity awards. The 2015 and 2017 plans authorize the Company to grant awards to its employees, officers, directors and consultants. At December 31, 2018 , there were 28.1 million shares available for the future grant of equity awards under the 2015 and 2017 plans collectively. The 2015 and 2017 plans have a stated term of ten years and provide that the exercise price of stock options granted will not be less than the market price of the Company’s common stock on the grant date. Neither plan specifies grant dates or vesting schedules of awards as those determinations have been delegated to the Compensation and Human Resources Committee of Match Group’s Board of Directors (the “Committee”). Each grant agreement reflects the vesting schedule for that particular grant as determined by the Committee. Stock options granted subsequent to September 1, 2015 will generally vest in four equal annual installments over a four -year period. RSU awards outstanding generally vest over a three - or four -year period. Market-based awards outstanding generally vest over a two - to four -year period. Stock-based compensation expense recognized in the consolidated statement of operations includes expense related to the Company’s stock options and RSUs, performance-based stock options, market-based RSUs and PSUs for which vesting is considered probable, equity instruments denominated in shares of subsidiaries, and IAC denominated stock options, RSUs and market-based awards held by Match Group employees. The amount of stock-based compensation expense recognized is net of estimated forfeitures, as the expense recorded is based on awards that are ultimately expected to vest. The forfeiture rate is estimated at the grant date based on historical experience and revised, if necessary, in subsequent periods if actual forfeitures differ from the estimated rate. At December 31, 2018 , there is $119.3 million of unrecognized compensation cost, net of estimated forfeitures, related to all equity-based awards, which is expected to be recognized over a weighted average period of approximately 2.4 years . The total income tax benefit recognized in the accompanying consolidated statement of operations for the years ended December 31, 2018 , 2017 and 2016 related to all stock-based compensation is $107.2 million , $295.1 million and $16.4 million , respectively. The increase in total income tax benefit recognized in the consolidated statement of operations during 2017 relative to 2016 is due to the adoption of ASU 2016-09, effective January 1, 2017, which required the associated recognition of excess tax benefits attributable to stock-based compensation to be included as a component of the current year provision for income taxes rather than recognized as an adjustment to additional paid-in capital. The aggregate income tax benefit recognized related solely to stock-based compensation for the years ended December 31, 2018 , 2017 , and 2016, including the portion recognized as a component of equity in 2016 is $103.3 million , $310.9 million , and $40.1 million , respectively. As the Company is currently in a NOL position there will be some delay in the timing of the realization of cash benefits of income tax deductions related to stock-based compensation because it will be dependent upon the amount and timing of future taxable income and the timing of estimated income tax payments.

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Adjustment for Special Dividend On November 6, 2018, the Board of Directors declared a special dividend of $2.00 per share on Match Group common stock and Class B common stock. See “ Note 8—Shareholders' Equity ” for additional information on the dividend. As required by our equity incentive plans, an adjustment was made to outstanding awards to prevent dilution of their value resulting from the special dividend. These adjustments did not result in incremental stock-based compensation expense as the anti-dilutive adjustments were required by our equity incentive plans. The adjustments to awards included increasing the number of outstanding stock options and RSUs, performance-based stock options, and market-based RSUs, as well as reducing the exercise prices of outstanding stock options. The impact of these adjustments is reflected in the disclosures below.

Stock Options Stock options outstanding at December 31, 2018 and changes during the year ended December 31, 2018 are as follows:

December 31, 2018 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (In Years) Value (Shares and intrinsic value in thousands) Outstanding at January 1, 2018 35,878 $ 13.50 Granted 580 33.45 Adjustment for special dividend 953 N/A Exercised (14,160) 11.61 Forfeited (3,750) 13.97 Expired (6) 12.07 Outstanding at December 31, 2018 (a) 19,495 $ 14.72 7.6 $ 546,911 Options exercisable 5,143 $ 13.60 6.9 $ 150,033 ______

(a) Included in the outstanding balance at December 31, 2018 are 0.6 million performance-based stock options, which vest in varying amounts and years depending upon certain performance conditions. The Company does not expect any shares to vest based on our current assessment of the performance conditions. The table above includes these awards at their maximum potential payout. The aggregate intrinsic value in the table above represents the difference between Match Group’s closing stock price on the last trading day of 2018 and the exercise price, multiplied by the number of in-the-money options that would have been exercised had all option holders exercised their options on December 31, 2018 . The total intrinsic value of stock options exercised during the years ended December 31, 2018 , 2017 and 2016 is $455.1 million , $533.8 million and $37.3 million , respectively.

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The following table summarizes the information about stock options outstanding and exercisable at December 31, 2018 :

Options Outstanding Options Exercisable Weighted- Weighted- Average Average Remaining Weighted-Average Remaining Weighted-Average Outstanding at Contractual Exercise Exercisable at Contractual Exercise Range of Exercise Prices December 31, 2018 Life in Years Price December 31, 2018 Life in Years Price (Shares in thousands) $0.01 to $5.00 156 6.4 $ 4.32 92 6.4 $ 4.36 $5.01 to $10.00 4,723 7.4 8.97 894 7.3 8.72 $10.01 to $15.00 7,075 6.7 12.61 3,073 6.2 12.95 $15.01 to $20.00 4,368 8.1 17.08 532 8.0 17.00 $20.01 to $25.00 1,744 8.7 22.53 402 8.7 22.40 $25.01 to $30.00 1,050 8.9 26.89 150 8.9 26.12 $30.01 to $35.00 274 9.1 30.75 — — — $35.01 to $40.00 105 9.1 38.98 — — — 19,495 7.6 $ 14.72 5,143 6.9 $ 13.60

The fair value of stock option awards, with the exception of market-based awards, is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model incorporates various assumptions, including expected volatility and expected term. At December 31, 2018, the Company uses a blend of Match Group’s historical volatility and IAC’s historical volatility. The risk-free interest rates are based on U.S. Treasuries with comparable terms as the awards, in effect at the grant date. The expected term is based upon the combination of the initial vesting term and the historical exercise behavior of our employees after vest. The following are the weighted average assumptions used in the Black-Scholes option pricing model:

Years Ended December 31, 2018 2017 2016 Expected volatility 29% 27% 27% Risk-free interest rate 2.5% 1.9% 1.3% Expected term 5.3 years 5.0 years 4.8 years Dividend yield —% —% —%

Approximately 0.6 million , 8.2 million and 8.7 million stock options were granted by the Company during the years ended December 31, 2018 , 2017 and 2016 , respectively. The weighted average fair value of stock options granted during the years ended December 31, 2018 , 2017 and 2016 is $10.63 , $5.67 and $2.98 , respectively. Cash received from stock option exercises for the years ended December 31, 2018 , 2017 , and 2016 is less than $0.1 million , $59.4 million , and $39.4 million respectively. The decrease in cash received from stock option exercises in 2018 compared to prior years is due to substantially all options being net settled for the exercise price beginning in late 2017.

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Restricted Stock Units and Performance-based Stock Units RSUs and PSUs are awards in the form of phantom shares or units denominated in a hypothetical equivalent number of shares of Match Group common stock and with the value of each RSU and PSU equal to the fair value of Match Group common stock at the date of grant. Each RSU and PSU grant is subject to service-based vesting, where a specific period of continued employment must pass before an award vests. PSUs also include performance-based vesting, where certain performance targets set at the time of grant must be achieved before an award vests. For RSU grants, the expense is measured at the grant date as the fair value of Match Group common stock and expensed as stock-based compensation over the vesting term. For PSU grants, the expense is measured at the grant date as the fair value of Match Group common stock and expensed as stock-based compensation over the vesting term if the performance targets are considered probable of being achieved. All outstanding PSUs were forfeited during the year ended December 31, 2017 and no additional PSUs were granted in 2018. Unvested RSUs outstanding at December 31, 2018 and changes during the year ended December 31, 2018 are as follows:

RSUs Weighted Average Number Grant Date of shares Fair Value (Shares in thousands) Unvested at January 1, 2018 2,214 $ 18.65 Granted 1,389 42.24 Adjustment for special dividend 136 N/A Vested (493) 18.21 Forfeited (487) 20.75 Unvested at December 31, 2018 2,759 $ 29.38

The weighted average fair value of RSUs and PSUs granted during the years ended December 31, 2018 , 2017 , and 2016, based on market prices of Match Group’s common stock on the grant date, was $42.24 , $19.21 and $12.65 , respectively. The total fair value of RSUs that vested during the years ended December 31, 2018 , 2017 , and 2016 was $9.0 million , $6.7 million and $1.1 million , respectively.

Market-based Awards During 2018 , 2017 , and 2016, the Company granted market-based awards to certain employees. The number of awards that ultimately vest for certain awards is dependent upon Match Group’s stock price and for other awards on the valuation of a wholly-owned business. The grant date fair value of each market- based award is estimated using a lattice model that incorporates a Monte Carlo simulation of Match Group’s stock price and, as necessary, the valuation of the subsidiary. Each market-based award is subject to service-based vesting, where a specific period of continued employment must pass before an award vests in addition to the market condition.

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Market-based awards outstanding at December 31, 2018 and changes during the year ended December 31, 2018 are as follows:

Market-based awards Weighted Average Number Grant Date of shares Price (Shares in thousands) Unvested at January 1, 2018 6,107 $ 19.41 Granted 527 26.91 Adjustment for special dividend 225 N/A Vested (343) 14.20 Forfeited (1,907) 19.26 Unvested at December 31, 2018 4,609 $ 18.28

The weighted average fair value of market-based awards granted during the years ended December 31, 2018, 2017, and 2016, based on the valuation model, was $6.88 , $7.50 and $1.77 , respectively. The total fair value of market-based awards that vested during the years ended December 31, 2018 , 2017, and 2016 was $4.9 million , $3.1 million and $0.1 million , respectively.

Net Settlement of Awards We settle substantially all equity awards on a net basis. Assuming all equity awards outstanding on December 31, 2018 were net settled on that date, we would have issued 9.7 million common shares (of which 1.7 million are related to vested shares and 8.0 million are related to unvested shares) and, assuming a 50% withholding rate, would have remitted $416.2 million in cash for withholding taxes (of which $75.0 million is related to vested shares and $341.2 million is related to unvested shares). If we decided to issue a sufficient number of shares to cover the $416.2 million employee withholding tax obligation, 9.7 million additional shares would be issued by the Company.

Converted Tinder Options In July 2017, the Company elected to convert all outstanding equity awards of its wholly-owned Tinder business into Match Group options at a value determined through a process involving two investment banks. These converted Match Group options are included in the option tables above. These former subsidiary denominated awards, when exercised, can be settled by Match Group issuing shares of its common stock equal in value to the intrinsic value of the award being settled, net of shares with a value equal to the withholding taxes due, which taxes are remitted by Match Group to the government on behalf of the employees or the employee can pay the exercise price and applicable withholding taxes and receive the number of Match Group shares equal to the number of options exercised. At the time of settlement, IAC has the option to issue its own shares directly to the award holders, in which case Match Group would in turn issue its shares to IAC as reimbursement. In either settlement scenario, the same number of Match Group shares would be issued. During the year ended December 31, 2017, we made cash payments totaling $272.5 million to purchase certain fully vested options.

Equity Instruments Formerly Denominated in the Shares of Certain Subsidiaries The Company issued 1.7 million Match Group common shares, and paid $22.8 million of withholding taxes, to settle awards granted to current and former employees who exercised their subsidiary options during the year ended December 31, 2016. During 2014, the Company granted an equity award denominated in shares of a subsidiary of the Company to a non-employee, which was marked to market each reporting period. In the third quarter of 2016, the Company

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) settled the vested portion of the award for cash of $13.4 million . In the third quarter of 2017, the award was modified and the Company settled the remaining portion of the award for cash of $33.9 million .

IAC Denominated Stock Options

There were no IAC stock options granted by IAC under its equity incentive plans to employees of Match Group during the years ended December 31, 2018 and 2017. During the year ended December 31, 2016, there were less than 0.1 million IAC stock options granted by IAC under its equity incentive plans to employees of Match Group. Approximately 0.2 million IAC stock options remain outstanding to employees of Match Group as of December 31, 2018 . The fair value of each stock option award was estimated on the grant date using the Black–Scholes option pricing model. IAC stock options were granted with exercise prices at least equal to the fair value on the date of grant, vest ratably in annual installments over a four -year period and expire ten years from the date of grant.

IAC Denominated RSUs and Market-based Awards During both the years ended December 31, 2018 and 2016, less than 0.1 million IAC RSUs and market-based awards were granted by IAC to employees of Match Group. There were no IAC RSUs or market-based awards granted by IAC to employees of Match Group during the year ended December 31, 2017. RSUs are awards in the form of phantom shares or units, denominated in a hypothetical equivalent number of shares of IAC common stock and with the value of each RSU equal to the fair value of IAC common stock at the date of grant. Each RSU grant is subject to service-based vesting, where a specific period of continued employment must pass before an award vests. The number of market-based awards that ultimately vest is dependent upon Match Group’s stock price. The grant date fair value of each market-based award is estimated using a lattice model that incorporates a Monte Carlo simulation of Match Group’s stock price. Each market-based award is subject to service-based vesting, where a specific period of continued employment must pass before an award vests. Some of the market- based awards contain performance targets set at the time of grant that must be achieved before an award vests.

NOTE 12—GEOGRAPHIC INFORMATION Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below:

Years Ended December 31, 2018 2017 2016 (In thousands) Revenue United States $ 872,977 $ 722,446 $ 668,699 All other countries 856,873 608,215 449,411 Total $ 1,729,850 $ 1,330,661 $ 1,118,110

The United States is the only country from which revenue is greater than 10 percent of total revenue.

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December 31, 2018 2017 (In thousands) Long-lived assets (excluding goodwill and intangible assets) United States $ 35,004 $ 37,547 France 11,591 13,635 Canada 8,927 6,738 All other countries 2,829 3,700 Total $ 58,351 $ 61,620

NOTE 13—COMMITMENTS AND CONTINGENCIES Commitments The Company leases office space, data center facilities and equipment used in connection with its operations under various operating leases, many of which contain escalation clauses. The Company is also committed to pay a portion of the related operating expenses under certain lease agreements. These operating expenses are not included in the table below. Future minimum payments under operating lease agreements are as follows:

(In thousands) 2019 $ 11,559 2020 13,470 2021 12,100 2022 6,812 2023 6,021 Thereafter 17,471 Total $ 67,433

Expenses charged to operations under these agreements were $18.0 million , $16.0 million and $15.5 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. See “ Note 15—Related Party Transactions ” for additional information related to related party transactions associated with operating leases. The Company also has funding commitments in the form of a purchase obligation and surety bonds. The purchase obligations due in less than one year are $27.2 million and the purchase obligations due between one and three years are $23.9 million for a total of $51.1 million in purchase obligations. The purchase obligations primarily relate to web hosting services with $20.0 million due for both the years ended December 31, 2019 and 2020. Letters of credit and surety bonds totaling $0.4 million expire within twelve months of December 31, 2018 . Contingencies In the ordinary course of business, the Company is a party to various lawsuits. The Company establishes reserves for specific legal matters when it determines that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. Management has also identified certain other legal matters where we believe an unfavorable outcome is not probable and, therefore, no reserve is established. Although management currently believes that resolving claims against us, including claims where an unfavorable outcome is reasonably possible, will not have a material impact on the liquidity, results of operations, or financial condition of the Company, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. The Company also evaluates other contingent matters, including income and non-income tax contingencies, to assess the likelihood of an unfavorable outcome and estimated extent of potential loss. It is possible that an unfavorable outcome of one or more of these lawsuits or other contingencies could have a material impact on the

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) liquidity, results of operations, or financial condition of the Company. See “ Note 3—Income Taxes ” for additional information related to income tax contingencies. Tinder Optionholder Litigation against IAC and Match Group On August 14, 2018, ten then-current and former employees of Match Group, LLC or Tinder, Inc. (“Tinder”), an operating business of Match Group, filed a lawsuit in New York state court against IAC and Match Group. See Sean Rad et al. v. IAC/InterActiveCorp and Match Group, Inc. , No. 654038/2018 (Supreme Court, New York County). The complaint alleges that in 2017, the defendants: (i) wrongfully interfered with a contractually established process for the independent valuation of Tinder by certain investment banks, resulting in a substantial undervaluation of Tinder and a consequent underpayment to the plaintiffs upon exercise of their Tinder stock options, and (ii) then wrongfully merged Tinder into Match Group, thereby depriving one of the plaintiffs (Mr. Rad) of his contractual right to later valuations of Tinder on a stand-alone basis. The complaint asserts claims for breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, interference with contractual relations (as against Match Group only), and interference with prospective economic advantage, and seeks compensatory damages in the amount of at least $2 billion , as well as punitive damages. On August 31, 2018, four plaintiffs who were still employed by Match Group filed a notice of discontinuance of their claims without prejudice, leaving the six former employees as the remaining plaintiffs. On October 9, 2018, the defendants filed a motion to dismiss the complaint on various grounds, including that the 2017 valuation of Tinder by the investment banks was an expert determination any challenge to which is both time-barred under applicable law and available only on narrow substantive grounds that the plaintiffs have not pleaded in their complaint. On December 17, 2018, Plaintiffs filed their opposition to the motion to dismiss. On January 15, 2019, the defendants filed their reply brief. A hearing on the motion is scheduled for March 6, 2019, and discovery in the case is proceeding. IAC and Match Group believe that the allegations in this lawsuit are without merit and will continue to defend vigorously against it. FTC Investigation of Certain Match.com Business Practices In March 2017, the Federal Trade Commission (“FTC”) requested information and documents in connection with a civil investigation regarding certain business practices of Match.com. In November 2018, the FTC proposed to resolve its potential claims relating to Match.com’s marketing, chargeback and online cancellation practices via a consent judgment mandating certain changes in the company’s business practices, as well as a payment in the amount of $60 million . Match Group believes that the FTC’s legal challenges to Match.com’s practices, policies, and procedures are without merit and is prepared to vigorously defend against them.

NOTE 14—SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental Disclosure of Non-Cash Transactions: The Company recorded an acquisition-related contingent consideration liability of $0.2 million during the year ended December 31, 2016 . There were no acquisition-related contingent consideration liabilities recorded for the years ended December 31, 2018 and 2017. See “ Note 6—Financial Instruments ” for additional information on contingent consideration arrangements.

Supplemental Disclosure of Cash Flow Information:

Years Ended December 31, 2018 2017 2016 (In thousands) Cash paid (received) during the year for: Interest $ 71,308 $ 71,893 $ 82,494 Income tax payments, including amounts paid to IAC for Match Group’s share of IAC’s consolidated tax liability 39,267 28,938 44,733 Income tax refunds (17,720) (13,537) (962)

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

December 31, 2018 2017 2016 2015 (In thousands) Cash and cash equivalents $ 186,947 $ 272,624 $ 253,651 $ 88,173 Restricted cash included in other current assets 193 137 120 126 Total cash, cash equivalents and restricted cash as shown on the consolidated statement of cash flow $ 187,140 $ 272,761 $ 253,771 $ 88,299

NOTE 15—RELATED PARTY TRANSACTIONS

Relationship with IAC In connection with the IPO in 2015, the Company entered into certain agreements relating to our relationship with IAC. These agreements include a master transaction agreement; an investor rights agreement; a tax sharing agreement; a services agreement; an employee matters agreement and a subordinated loan agreement. For the years ended December 31, 2018 , 2017 and 2016 , the Company incurred $7.6 million , $9.9 million , and $11.8 million , respectively, pursuant to the services agreement. Included in these amounts are $5.2 million , $5.1 million and $4.3 million , respectively, for leasing of office space for certain of our businesses at properties owned by IAC. Additionally, the Company paid an IAC subsidiary $1.2 million for the sublease of space in a data center for the year ended December 31, 2016, and discontinued subleasing as of December 31, 2016. In December 2017, certain international subsidiaries of the Company agreed to sell net operating losses that were not expected to be utilized to an IAC subsidiary for $0.9 million . All amounts were paid in full by the Company at December 31, 2018 , 2017 and 2016 , respectively. Master Transaction Agreement The master transaction agreement sets forth the agreements between IAC and the Company regarding the principal transactions necessary to separate our business from IAC, as well as governs certain aspects of our relationship with IAC post IPO. Under the master transaction agreement, the Company agrees to assume all of the assets and liabilities related to its business and agrees to indemnify IAC against any losses arising out of any breach by the Company of the master transaction agreement or the other transaction related agreements described below. IAC also agrees to indemnify the Company against losses arising out of any breach by IAC of the master transaction agreement or any of the other transaction related agreements. Investor Rights Agreement Under the investor rights agreement, the Company provides IAC with (i) specified registration and other rights relating to its shares of our common stock and (ii) anti-dilution rights. See “ Note 8—Shareholders' Equity ” for additional information on the anti-dilution rights. Tax Sharing Agreement The tax sharing agreement governs the rights, responsibilities, and obligations of the Company and IAC with respect to tax liabilities and benefits, entitlements to refunds, preparation of tax returns, tax contests and other tax matters regarding U.S. federal, state, local and foreign income taxes. Under the tax sharing agreement, the Company is generally responsible and required to indemnify IAC for: (i) all taxes imposed with respect to any consolidated, combined or unitary tax return of IAC or one of its subsidiaries that includes the Company or any of its subsidiaries to the extent attributable to the Company or any of its subsidiaries, as determined under the tax sharing agreement, and (ii) all taxes imposed with respect to any of the Company’s subsidiaries’ consolidated, combined, unitary or separate tax returns. At December 31, 2017, the Company had tax receivables of $7.3 million due from IAC pursuant to the tax sharing agreement, which is included in “Other current assets” in the accompanying consolidated balance sheet. Refunds from IAC during 2018 and 2017 pursuant to this agreement were $7.0 million and $10.9 million ,

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) respectively. There were no outstanding receivables or payables pursuant to the tax sharing agreement as of December 31, 2018. Services Agreement The services agreement governs services that IAC provides to the Company including, among others: (i) assistance with certain legal, finance, internal audit, treasury, information technology support, insurance and tax matters, including assistance with certain public company reporting obligations; (ii) payroll processing services; (iii) tax compliance services; and (iv) such other services as to which IAC and the Company may agree. In addition, under the services agreement the Company provides IAC informational technology services and such other services as to which IAC and the Company may agree. The services agreement had an initial term of one year from the date of the IPO, and provides for automatic renewals for additional one -year periods, subject to IAC’s continued ownership of a majority of the combined voting power of the Company’s voting stock. Employee Matters Agreement The employee matters agreement covers a wide range of compensation and benefit issues related to the allocation of liabilities associated with: (i) employment or termination of employment, (ii) employee benefit plans and (iii) equity awards. Under the employee matters agreement, the Company’s employees participate in IAC’s U.S. health and welfare plans, 401(k) plan and flexible benefits plan and the Company reimburses IAC for the costs of such participation. In the event IAC no longer retains shares representing at least 80% of the aggregate voting power of shares entitled to vote in the election of the Company’s Board of Directors, Match Group will no longer participate in IAC’s employee benefit plans, but will establish its own employee benefit plans that will be substantially similar to the plans sponsored by IAC. The employee matters agreement also requires the Company to reimburse IAC for the cost of any IAC equity awards held by Match Group’s employees and former employees and that IAC may elect to receive payment either in cash or Company common stock. With respect to equity awards originally denominated in shares of the Company’s subsidiaries, IAC may require those awards to be settled in either shares of IAC’s common stock or in shares of the Company’s common stock and, to the extent shares of IAC common stock are issued in settlement, the Company will reimburse IAC for the cost of those shares by issuing to IAC additional shares of the Company’s common stock. During the years ended December 31, 2018 , 2017 and 2016 , 3.0 million , 11.9 million and 1.0 million shares, respectively, of Company common stock were issued to IAC pursuant to the employee matters agreement; 2.5 million , 11.3 million and 0.5 million , respectively, of which were issued as reimbursement for shares of IAC common stock issued in connection with the exercise and settlement of equity awards originally denominated in shares of a subsidiary of the Company; and 0.5 million , 0.6 million and 0.5 million , respectively, of which were issued as reimbursement for shares of IAC common stock issued in connection with the exercise and vesting of IAC equity awards held by Company employees. IAC Subordinated Loan Facility Prior to the IPO, the Company entered into an uncommitted subordinated loan facility with IAC (the “IAC Subordinated Loan Facility”), which allows the Company to make one or more requests to IAC to borrow funds. If IAC agrees to fulfill any such borrowing request, the related indebtedness will be incurred in accordance with the terms of the IAC Subordinated Loan Facility. Any indebtedness outstanding under the IAC Subordinated Loan Facility will be by its terms subordinated in right of payment to the obligations under the Match Group Credit Agreement and the Match Group Senior Notes, and will bear interest at the applicable rate set forth in the pricing grid in the Match Group Credit Agreement, which rate is based on the Company’s consolidated net leverage ratio at the time of borrowing, plus an additional amount to be agreed upon. The IAC Subordinated Loan Facility has a scheduled final maturity date of no earlier than 90 days after the maturity date of the Match Group Credit Facility or the latest maturity date in respect of any class of Term Loans outstanding under the Match Group Credit Agreement. At December 31, 2018 , the Company had no indebtedness outstanding under the IAC Subordinated Loan Facility.

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Other Related Party Transactions On August 10, 2018, Gregory R. Blatt resigned as a director of the Company and entered into an advisory agreement with the Company, pursuant to which he will advise the Company on matters relating to its business, strategy and operations. The term of the advisory agreement will end on February 29, 2020. Pursuant to their terms, Mr. Blatt’s outstanding stock options will remain exercisable and continue to vest, as applicable, as long as he continues to perform services for the Company.

NOTE 16—BENEFIT PLANS Match Group employees are eligible to participate in a retirement savings plan sponsored by IAC in the United States, which is qualified under Section 401(k) of the Internal Revenue Code. Under the IAC/InterActiveCorp Retirement Savings Plan (the “Plan”), participating employees may contribute up to 50% of their pre-tax earnings, but not more than statutory limits. The employer match under the Plan is fifty cents for each dollar a participant contributes in this Plan, with a maximum contribution of 3% of a participant’s eligible earnings. Matching contributions under the Plan for the years ended December 31, 2018 , 2017 and 2016 were $2.8 million , $2.2 million and $1.6 million , respectively. Matching contributions are invested in the same manner as each participant’s voluntary contributions in the investment options provided under the Plan. An investment option in the Plan is IAC common stock, but neither participant nor matching contributions are required to be invested in IAC common stock. The increase in matching contributions in 2018 and 2017 is due primarily to an increase in participation in the Plan due to increased headcount. Internationally, Match Group also has or participates in various benefit plans, primarily defined contribution plans. The Company’s contributions for these plans for the years ended December 31, 2018 , 2017 and 2016 were $2.8 million , $2.2 million and $1.9 million , respectively.

NOTE 17—CONSOLIDATED FINANCIAL STATEMENT DETAILS

December 31, 2018 2017 (In thousands) Other current assets: Capitalized mobile app fees $ 29,216 $ 22,070 Prepaid expenses 19,476 16,374 Other 9,074 16,925 Other current assets $ 57,766 $ 55,369

December 31, 2018 2017 (In thousands) Property and equipment, net: Computer equipment and capitalized software $ 136,083 $ 134,757 Leasehold improvements 24,529 22,390 Furniture and other equipment 7,395 7,216 Projects in progress 3,369 6,117 171,376 170,480 Accumulated depreciation and amortization (113,025) (108,860) Property and equipment, net $ 58,351 $ 61,620

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

December 31, 2018 2017 (In thousands) Accrued expenses and other current liabilities: Accrued advertising expense $ 40,894 $ 28,878 Accrued employee compensation and benefits 38,378 30,375 Other 56,699 51,313 Accrued expenses and other current liabilities $ 135,971 $ 110,566

Years Ended December 31, 2018 2017 2016 (In thousands) Other income (expense), net $ 7,765 $ (30,827) $ 7,866

Other income, net in 2018 includes $5.3 million in net foreign currency exchange gains due primarily to a strengthening of the U.S. dollar relative to the British Pound in the period and $4.9 million of interest income, partially offset by $2.1 million related to impairments of certain equity investments and $0.7 million related to a mark-to-market adjustment pertaining to a subsidiary denominated equity instrument. Other expense, net, in 2017 includes expenses of $15.4 million related to the redemption of our 6.75% Senior Notes and repricing of the Term Loan, $13.0 million related to a mark-to-market adjustment pertaining to a subsidiary denominated equity award held by a non-employee, $10.3 million in net foreign currency exchange losses, and a $2.3 million other-than-temporary impairment charge related to a cost method investment resulting from of our assessment of the near-term prospects and financial condition of the investee. These expenses were partially offset by a gain on the sale of a cost method investment of $9.1 million . Other income, net in 2016 includes $20.0 million in foreign currency exchange gains due to strengthening of the dollar relative to the British Pound and Euro and a $3.1 million gain related to the sale of a marketable equity security, partially offset by a non-cash charge of $12.1 million related to the write-off of a proportionate share of original issue discount and deferred financing costs associated with prepayments of $440 million of the Term Loan, $2.1 million of expense related to mark-to-market adjustment pertaining to a subsidiary denominated equity award held by a non-employee, $1.5 million repricing fees related to the Term Loan, and a $0.7 million other-than-temporary impairment charge related to a certain cost method investment.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

NOTE 18—QUARTERLY RESULTS (UNAUDITED)

Quarter Ended Quarter Ended Quarter Ended Quarter Ended March 31 June 30 September 30 (a) December 31 (b) (In thousands, except per share data) Year Ended December 31, 2018 Revenue $ 407,367 $ 421,196 $ 443,943 $ 457,344 Cost of revenue 93,944 97,334 107,512 111,210 Operating income 112,233 150,165 139,895 151,001 Earnings from continuing operations 99,678 131,358 127,950 113,983 Loss from discontinued operations, net of tax — — (378) — Net earnings attributable to Match Group, Inc. shareholders 99,736 132,500 130,159 115,544 Per share information from continuing operations attributable to the Match Group, Inc. shareholders: Basic (c) $ 0.36 $ 0.48 $ 0.47 $ 0.42 Diluted (c) $ 0.33 $ 0.45 $ 0.44 $ 0.39 Per share information attributable to the Match Group, Inc. shareholders: Basic (c) $ 0.36 $ 0.48 $ 0.47 $ 0.42 Diluted (c) $ 0.33 $ 0.45 $ 0.44 $ 0.39

Year Ended December 31, 2017 Revenue $ 298,764 $ 309,572 $ 343,418 $ 378,907 Cost of revenue 58,848 62,665 72,044 85,942 Operating income 58,871 82,975 91,008 127,663 Earnings (loss) from continuing operations 24,555 51,544 287,771 (7,893) (Loss) earnings from discontinued operations, net of tax (4,491) (71) (85) (1,003) Net earnings (loss) attributable to Match Group, Inc. shareholders 20,053 51,430 287,688 (9,023) Per share information from continuing operations attributable to the Match Group, Inc. shareholders: Basic (c) $ 0.10 $ 0.20 $ 1.08 $ (0.03) Diluted (c) $ 0.08 $ 0.17 $ 0.98 $ (0.03) Per share information attributable to the Match Group, Inc. shareholders: Basic (c) $ 0.08 $ 0.20 $ 1.08 $ (0.03) Diluted (c) $ 0.07 $ 0.17 $ 0.98 $ (0.03) ______

(a) Net earnings for the third quarter of 2017 was impacted by an income tax benefit of $226.2 million primarily due to excess tax deductions attributable to stock-based compensation. (b) Net loss for the fourth quarter of 2017 was impacted by an incremental income tax provision of $92.3 million related to the Tax Act, of which, $23.7 million relates to the Transition Tax and a $68.6 million relates to the remeasurement of U.S. net deferred tax assets due to the reduction in the corporate income tax rate. (c) Quarterly per share amounts may not add to the related annual per share amount because of differences in the average common shares outstanding during each period.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

NOTE 19—SUBSEQUENT EVENT (UNAUDITED) On February 15, 2019, we completed a private offering of $350 million aggregate principal amount of 5.625% Senior Notes due 2029. The proceeds from these notes were used to repay outstanding borrowings under our existing Credit Facility, to pay expenses associated with the offering, and for general corporate purposes.

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Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure Not applicable.

Item 9A. Controls and Procedures

Conclusion Regarding the Effectiveness of the Company’s Disclosure Controls and Procedures The Company monitors and evaluates on an ongoing basis its disclosure controls and procedures in order to improve their overall effectiveness. In the course of these evaluations, the Company modifies and refines its internal processes as conditions warrant. As required by Rule 13a-15(b) of the Exchange Act, Match Group management, including the Chief Executive Officer (“CEO”) and the Chief Financial Officer (“CFO”), conducted an evaluation, as of the end of the period covered by this report, of the effectiveness of the Company’s disclosure controls and procedures as defined in Exchange Act Rule 13a-15(e). Based on this evaluation, the CEO and the CFO concluded that the Company’s disclosure controls and procedures were effective as of the end of the period covered by this report.

Management’s Report on Internal Control Over Financial Reporting Management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) for the Company. The Company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States. Management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2018 . In making this assessment, our management used the criteria for effective internal control over financial reporting described in “Internal Control—Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013. Based on this assessment, management has determined that, as of December 31, 2018 , the Company’s internal control over financial reporting is effective. The effectiveness of our internal control over financial reporting as of December 31, 2018 has been audited by Ernst & Young LLP, an independent registered public accounting firm, as stated in their attestation report, included herein. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Changes in Internal Control Over Financial Reporting The Company monitors and evaluates on an ongoing basis its internal control over financial reporting in order to improve its overall effectiveness. In the course of these evaluations, the Company modifies and refines its internal processes as conditions warrant. As required by Rule 13a-15(d), Match Group management, including the CEO and the CFO, also conducted an evaluation of the Company’s internal control over financial reporting to determine whether any changes occurred during the quarter ended December 31, 2018 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting. Based on that evaluation, there has been no such change during the quarter ended December 31, 2018 .

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Report of Independent Registered Public Accounting Firm

To the Shareholders and the Board of Directors of Match Group, Inc.

Opinion on Internal Control over Financial Reporting

We have audited Match Group, Inc. and subsidiaries’ internal control over financial reporting as of December 31, 2018 , based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the COSO criteria). In our opinion, Match Group, Inc. and subsidiaries (the Company) maintained, in all material respects, effective internal control over financial reporting as of December 31, 2018 , based on the COSO criteria.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheet of the Company as of December 31, 2018 and 2017 , and the related consolidated statements of operations, comprehensive operations, shareholders' equity, and cash flows for each of the three years in the period ended December 31, 2018 , and the related notes and the financial statement schedule listed in the Index at Item 15(a), and our report dated February 28, 2019 expressed an unqualified opinion thereon.

Basis for Opinion

The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying Management’s Report on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.

Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

Definition and Limitations of Internal Control Over Financial Reporting A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ ERNST & YOUNG LLP New York, New York February 28, 2019

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Item 9B. Other Information Not applicable.

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PART III The information required by Part III (Items 10, 11, 12, 13 and 14) has been incorporated by reference to Match Group’s definitive Proxy Statement to be used in connection with its 2019 Annual Meeting of Stockholders (the “ 2019 Proxy Statement”), as set forth below in accordance with General Instruction G(3) of Form 10-K.

Item 10. Directors, Executive Officers and Corporate Governance The information required by Items 401 and 405 of Regulation S-K relating to directors and executive officers of Match Group and their compliance with Section 16(a) of the Exchange Act is set forth in the sections entitled “Information Concerning Director Nominees” and “Information Concerning Match Group Executive Officers Who Are Not Directors,” and “Section 16(a) Beneficial Ownership Reporting Compliance,” respectively, in the 2019 Proxy Statement and is incorporated herein by reference. The information required by Item 406 of Regulation S-K relating to Match Group’s Code of Ethics is set forth under the caption “Part I-Item 1-Business-Additional Information-Code of ethics” of this annual report and is incorporated herein by reference. The information required by subsections (c)(3), (d)(4) and (d)(5) of Item 407 of Regulation S-K is set forth in the sections entitled “Corporate Governance” and “The Board and Board Committees” in the 2019 Proxy Statement and is incorporated herein by reference.

Item 11. Executive Compensation The information required by Item 402 of Regulation S-K relating to executive and director compensation is set forth in the sections entitled “Executive Compensation” and “Director Compensation” in the 2019 Proxy Statement and is incorporated herein by reference. The information required by subsections (e)(4) and (e)(5) of Item 407 of Regulation S-K relating to certain compensation committee matters is set forth in the sections entitled “The Board and Board Committees,” “Compensation Committee Report” and “Compensation Committee Interlocks and Insider Participation” in the 2019 Proxy Statement and is incorporated herein by reference; provided, that the information set forth in the section entitled “Compensation Committee Report” shall be deemed furnished herein and shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters The information regarding ownership of Match Group common stock and Class B common stock required by Item 403 of Regulation S-K and securities authorized for issuance under Match Group’s various equity compensation plans required by Item 201(d) of Regulation S-K is set forth in the sections entitled “Security Ownership of Certain Beneficial Owners and Management” and “Equity Compensation Plan Information,” respectively, in the 2019 Proxy Statement and is incorporated herein by reference.

Item 13. Certain Relationships and Related Transactions, and Director Independence Information regarding certain relationships and related transactions involving Match Group required by Item 404 of Regulation S-K and director independence determinations required by Item 407(a) of Regulation S-K is set forth in the sections entitled “Certain Relationships and Related Person Transactions” and “Corporate Governance,” respectively, in the 2019 Proxy Statement and is incorporated herein by reference.

Item 14. Principal Accounting Fees and Services Information required by Item 9(e) of Schedule 14A regarding the fees and services of Match Group’s independent registered public accounting firm and the pre-approval policies and procedures applicable to services provided to Match Group by such firm is set forth in the sections entitled “Fees Paid to Our Independent Registered Public Accounting Firm” and “Audit and Non-Audit Services Pre-Approval Policy,” respectively, in the 2019 Proxy Statement and is incorporated herein by reference.

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PART IV

Item 15. Exhibits and Financial Statement Schedules

(a) List of documents filed as part of this Report:

(1) Consolidated Financial Statements of Match Group, Inc.

Report of Independent Registered Public Accounting Firm: Ernst & Young LLP.

Consolidated Balance Sheet as of December 31, 2018 and 2017.

Consolidated Statement of Operations for the Years Ended December 31, 2018, 2017 and 2016.

Consolidated Statement of Comprehensive Operations for the Years Ended December 31, 2018, 2017 and 2016.

Consolidated Statement of Shareholders’ Equity for the Years Ended December 31, 2018, 2017 and 2016.

Consolidated Statement of Cash Flows for the Years Ended December 31, 2018, 2017 and 2016.

Notes to Consolidated Financial Statements.

(2) Consolidated Financial Statement Schedule of Match Group, Inc.

Schedule Number II Valuation and Qualifying Accounts.

All other financial statements and schedules not listed have been omitted since the required information is either included in the Consolidated Financial Statements or the notes thereto, is not applicable or is not required.

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EXHIBIT INDEX The documents set forth below, numbered in accordance with Item 601 of Regulation S-K, are filed herewith, incorporated by reference herein by reference to the location indicated, or furnished herewith.

Incorporated by Reference Filed (†) or Furnished (‡) Exhibit SEC Filing Herewith No. Exhibit Description Form File No. Exhibit Date (as indicated) 2.1 Stock Purchase Agreement, dated as of July 13, 2015, by and among 8-K 000-20570 2.1 7/17/2015 Match.com Inc., Plentyoffish Media Inc., Markus Frind, Markus Frind Family Trust No. 2, and Frind Enterprises Ltd. 3.1 Amended and Restated Certificate of Incorporation of Match Group, Inc. 8-K 001-37636 3.1 11/24/2015 3.2 Amended and Restated By-laws of Match Group, Inc. 8-K 001-37636 3.1 12/7/2017 4.1 Indenture, dated June 1, 2016, between Match Group, Inc. and 8-K 001-37636 4.1 6/2/2016 Computershare Trust Company, N.A., as Trustee. 4.2 Investor Rights Agreement, dated as of November 24, 2015, by and 8-K 001-37636 4.1 11/24/2015 between Match Group, Inc. and IAC/InterActiveCorp. 4.3 Indenture, dated December 4, 2017, between Match Group, Inc. and 8-K 001-37636 4.1 12/4/2017 Computershare Trust Company, N.A., as Trustee. 10.1 Master Transaction Agreement, dated as of November 24, 2015, by and 8-K 001-37636 10.1 11/24/2015 between Match Group, Inc. and IAC/InterActiveCorp. 10.2 Employee Matters Agreement, dated as of November 24, 2015, by and 8-K 001-37636 10.2 11/24/2015 between Match Group, Inc. and IAC/InterActiveCorp. 10.3 Amendment No. 1 to the Employee Matters Agreement, dated as of April 10-Q 001-37636 10.1 5/10/2016 13, 2016, by and between Match Group, Inc. and IAC/InterActiveCorp. 10.4 Tax Sharing Agreement, dated as of November 24, 2015, by and between 8-K 001-37636 10.3 11/24/2015 Match Group, Inc. and IAC/InterActiveCorp. 10.5 Services Agreement, dated as of November 24, 2015, by and between 8-K 001-37636 10.4 11/24/2015 Match Group, Inc. and IAC/InterActiveCorp. 10.6 Match Group, Inc. 2015 Stock and Annual Incentive Plan.(1) 8-K 001-37636 10.5 11/24/2015 10.7 First Amendment to the Match Group, Inc. 2015 Stock and Annual 10-Q 001-37636 10.1 8/4/2017 Incentive Plan.(1) 10.8 Form of Terms and Conditions for Stock Options granted under the Match 10-K 001-37636 10.7 2/28/2017 Group, Inc. 2015 Stock and Annual Incentive Plan.(1) 10.9 Form of Terms and Conditions for Restricted Stock Units granted under 10-K 001-37636 10.8 2/28/2017 the Match Group, Inc. 2015 Stock and Annual Incentive Plan.(1) 10.10 Match Group, Inc. Amended and Restated 2017 Stock and Annual 8-K 001-37636 10.1 6/21/2018 Incentive Plan.(1) 10.11 Form of Terms and Conditions for Stock Options granted under the Match 10-Q 001-37636 10.1 11/9/2017 Group, Inc. 2017 Stock and Annual Incentive Plan.(1) 10.12 Form of Terms and Conditions for Restricted Stock Units granted under 10-Q 001-37636 10.2 11/9/2017 the Match Group, Inc. 2017 Stock and Annual Incentive Plan.(1) 10.13 Summary of Non-Employee Director Compensation Arrangements.(1) 10-K 001-37636 10.9 3/28/2016 10.14 Amended and Restated Credit Agreement, dated as of November 16, 10-K 001-37636 10.11 3/28/2016 2015, among Match Group, Inc., as borrower, the Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other parties thereto.

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Incorporated by Reference Filed (†) or Furnished (‡) Exhibit SEC Filing Herewith No. Exhibit Description Form File No. Exhibit Date (as indicated) 10.15 Amendment No. 3, dated as of December 8, 2016, to the Credit 8-K 001-37636 10.1 12/8/2016 Agreement dated as of October 7, 2015, as amended and restated as of November 16, 2015, as further amended as of December 16, 2015, among Match Group, Inc., as borrower, the Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other parties thereto. 10.16 Amendment No. 4, dated as of August 14, 2017, to the Credit Agreement 8-K 001-37636 10.1 8/17/2017 dated as of October 7, 2015, as amended and restated as of November 16, 2015, as further amended as of December 16, 2015, as further amended as of December 8, 2016, among Match Group, Inc., as borrower, the Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other parties thereto. 10.17 Amendment No. 5 dated as of December 7, 2018 to the Credit Agreement 8-K 001-37636 10.1 12/13/2018 dated as of October 7, 2015, as amended and restated as of November 16, 2015, as further amended as of December 16, 2015, as further amended as of December 8, 2016, and as further amended as of August 14, 2017, among Match Group, Inc., as borrower, the Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent and the other parties thereto. 10.18 Employment Agreement between Amanda W. Ginsberg and Match 8-K 001-37636 10.1 7/26/2018 Group, Inc. dated as of July 20, 2018.(1) 10.19 Employment Agreement between Gary Swidler and Match Group, Inc. 8-K 001-37636 10.1 8/14/2018 dated as of August 8, 2018.(1) 10.20 Employment Agreement between Jared Sine and Match Group, Inc. dated 8-K 001-37636 10.2 8/14/2018 as of August 8, 2018.(1) 10.21 Employment Agreement between Sharmistha Dubey and Match Group, 10-Q 001-37636 10.5 11/9/2018 Inc. dated as of August 8, 2018.(1) 10.22 Advisory Agreement between Gregory R. Blatt and Match Group, Inc. 8-K 001-37636 10.1 8/10/2018 dated as of August 10, 2018.(1) 21.1 Subsidiaries of the Registrant as of December 31, 2018. † 23.1 Consent of Ernst & Young LLP. † 31.1 Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) or † 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) or † 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1 Certification of the Chief Executive Officer pursuant to 18 U.S.C. ‡ Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 32.2 Certification of the Chief Financial Officer pursuant to 18 U.S.C. ‡ Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 101.INS XBRL Instance Document ‡ 101.SCH XBRL Taxonomy Extension Schema Document ‡ 101.CAL XBRL Taxonomy Extension Calculation Linkbase Document ‡ 101.DEF XBRL Taxonomy Extension Definition Linkbase Document ‡ 101.LAB XBRL Taxonomy Extension Label Linkbase Document ‡ 101.PRE XBRL Taxonomy Extension Presentation Linkbase Document ‡ ______(1) Reflects management contracts and management and director compensatory plans.

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RLP 274 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

February 28, 2019 MATCH GROUP, INC. By: /s/ GARY SWIDLER Gary Swidler Chief Financial Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities indicated on February 28, 2019 :

Signature Title

/s/ JOSEPH LEVIN Chairman of the Board Joseph Levin

Chief Executive Officer and Director /s/ AMANDA W. GINSBERG (Principal Executive Officer) Amanda W. Ginsberg

Chief Financial Officer /s/ GARY SWIDLER (Principal Financial Officer) Gary Swidler

Senior Vice President and Chief Accounting Officer /s/ PHILIP D. EIGENMANN (Principal Accounting Officer) Philip D. Eigenmann

/s/ ANN L. McDANIEL Director Ann L. McDaniel

/s/ THOMAS J. McINERNEY Director Thomas J. McInerney

/s/ GLENN H. SCHIFFMAN Director Glenn H. Schiffman

/s/ PAMELA S. SEYMON Director Pamela S. Seymon

/s/ ALAN G. SPOON Director Alan G. Spoon

/s/ MARK STEIN Director Mark Stein

/s/ GREGG WINIARSKI Director Gregg Winiarski

/s/ SAM YAGAN Director Sam Yagan

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Schedule II MATCH GROUP, INC. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

Balance at Beginning of Charges to Charges to Balance at Description Period Earnings Other Accounts Deductions End of Period (In thousands) 2018 Allowance for doubtful accounts $ 778 $ 83 (a) $ (15) $ (122) (d) $ 724 Deferred tax valuation allowance 24,795 22,675 (b) (22) (c) — 47,448 Other reserves 2,544 3,008 2017 Allowance for doubtful accounts $ 676 $ 427 (a) $ (47) $ (278) (d) $ 778 Deferred tax valuation allowance 23,411 1,157 (e) 227 (f) — 24,795 Other reserves 2,822 2,544 2016 Allowance for doubtful accounts $ 902 $ 136 (a) $ 23 $ (385) (d) $ 676 Deferred tax valuation allowance 22,945 (593) (g) 1,059 (h) — 23,411 Other reserves 2,514 2,822

______

(a) Additions to the allowance for doubtful accounts are charged to expense. (b) Amount is primarily related to foreign tax credits and foreign interest deduction carryforwards. (c) Amount is related to currency translation adjustments on foreign net operating losses. (d) Write-off of fully reserved accounts receivable. (e) Amount is primarily related to an other-than-temporary impairment charge for a certain cost method investment and an increase in foreign tax loss carryforwards. (f) Amount is related to currency translation adjustments on foreign net operating losses. (g) Amount is primarily related to an other-than-temporary impairment charge for a certain cost method investment and an increase in foreign tax credits. (h) Amount is related to the realization of previously unbenefited losses on an available-for-sale marketable equity security included in accumulated other comprehensive loss.

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RLP 276 Exhibit 21.1

Match Group, Inc. Subsidiaries As of December 31, 2018

Entity Jurisdiction of Formation Affinity Apps LLC Delaware Connect, LLC Delaware DatingDirect.com Limited England and Wales Delightful.com, LLC Delaware Eureka SG Pte. Ltd. Singapore Eureka Taiwan Taiwan Eureka, Inc. Japan Five Star Matchmaking Information Technology (Beijing) Co., Ltd. People’s Republic of China FriendScout24 GmbH Germany Hinge, Inc. Delaware HowAboutWe, LLC Delaware Humor Rainbow, Inc. New York M8 Singlesnet LLC Delaware Mash Dating, LLC Delaware Massive Media Europe NV Belgium Massive Media (UK) Ltd. England and Wales Massive Media Match NV Belgium Match Group Europe Limited England and Wales Match Internet Financial Services Designated Activity Company Ireland Match ProfilePro, LLC Delaware Match.com Europe Limited England and Wales Match.com Events LLC Delaware Match.com Foreign Holdings II Limited England and Wales Match.com Foreign Holdings III Limited England and Wales Match.com Foreign Holdings Limited England and Wales Match.com Global Investments S.à r.l. Luxembourg Match.com Global Services Limited England and Wales Match.com HK Limited Hong Kong Match.com International Holdings, Inc. Delaware Match.com International II Limited England and Wales Match.com International Limited England and Wales Match.com Investments Inc. Cayman Islands Match.com Japan KK Japan Match.com Japan Networks GK Japan Match.com LatAm Limited England and Wales Match.com Luxembourg S.à r.l. Luxembourg Match.com Nordic AB Sweden Match.com Offshore Holdings, Ltd Mauritius

RLP 277 Entity Jurisdiction of Formation Match.com Pegasus Limited England and Wales Match Group, LLC Delaware Matchcom Mexico, S. de R.L., de C.V. Mexico Meetic Espana, SLU Spain Meetic Italia SRL Italy Meetic Netherlands BV Netherlands Meetic SAS France MG France Services France MG Korea Services Limited South Korea MG Services Alpha LLC Delaware MG Services Beta LLC Delaware MM LatAm, LLC Delaware Mojo Acquisition Corp. Delaware Mojo Finance Co. Cayman Islands MTCH Technology Services Limited Ireland Neu.de GmbH Germany Nexus Limited England and Wales Parperfeito Comunicacao SA Brazil , Inc. Delaware People Media, LLC Arizona Plentyoffish Media ULC British Columbia Plentyoffish Media, LLC Delaware Pretty Fun Therapy SAS France Search Floor, Inc. California Shoptouch, Inc. Delaware SpeedDate.com, LLC Delaware Spotlight Studios, LLC Delaware Tinder, LLC Delaware Tinder Development, LLC Delaware TPR/Tutor Holdings, LLC Delaware

RLP 278 Exhibit 23.1

Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in the following Registration Statements:

(1) Registration Statement (Form S-8 No. 333-208202) of Match Group, Inc., and (2) Registration Statement (Form S-8 No. 333-218280) of Match Group, Inc. of our reports dated February 28, 2019 , with respect to the consolidated financial statements and schedule of Match Group, Inc., and the effectiveness of internal control over financial reporting of Match Group, Inc., included in this Annual Report (Form 10-K) of Match Group, Inc. for the year ended December 31, 2018.

/s/ ERNST & YOUNG LLP

New York, New York February 28, 2019

RLP 279 Exhibit 31.1

Certification

I, Amanda W. Ginsberg, certify that:

1. I have reviewed this report on Form 10-K for the fiscal year ended December 31, 2018 of Match Group, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a 15(f) and 15d 15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Dated: February 28, 2019 /s/ AMANDA W. GINSBERG

Amanda W. Ginsberg

Chief Executive Officer

RLP 280 Exhibit 31.2

Certification

I, Gary Swidler, certify that:

1. I have reviewed this report on Form 10-K for the fiscal year ended December 31, 2018 of Match Group, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a 15(f) and 15d 15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Dated: February 28, 2019 /s/ GARY SWIDLER Gary Swidler

Chief Financial Officer

RLP 281 Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Amanda W. Ginsberg, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that, to my knowledge: (1) the Annual Report on Form 10-K for the fiscal year ended December 31, 2018 of Match Group, Inc. (the "Report") which this statement accompanies fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and (2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Match Group, Inc.

Dated: February 28, 2019 /s/ AMANDA W. GINSBERG Amanda W. Ginsberg

Chief Executive Officer

RLP 282 Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Gary Swidler, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that, to my knowledge: (1) the Annual Report on Form 10-K for the fiscal year ended December 31, 2018 of Match Group, Inc. (the "Report") which this statement accompanies fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and (2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Match Group, Inc.

Dated: February 28, 2019 /s/ GARY SWIDLER Gary Swidler

Chief Financial Officer

RLP 283 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT V

RLP 284 Table of Contents

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )

Filed by the Registrant x

Filed by a Party other than the Registrant o

Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) x Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material under §240.14a-12

Match Group, Inc. (Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box): x No fee required. o Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies:

(2) Aggregate number of securities to which transaction applies:

(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

(4) Proposed maximum aggregate value of transaction:

(5) Total fee paid: o Fee paid previously with preliminary materials. o Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid:

(2) Form, Schedule or Registration Statement No.:

(3) Filing Party:

(4) Date Filed:

RLP 285 Table of Contents

April 30, 2019

Dear Stockholder:

You are invited to attend the Annual Meeting of Stockholders of Match Group, Inc., which will be held on Wednesday, June 19, 2019, at 8:00 a.m., local time, at The London West Hollywood, Kensington Ballroom, 1020 N. San Vicente Blvd., West Hollywood, California 90069.

At the Annual Meeting, stockholders will be asked to: (1) elect ten directors, (2) vote on an advisory proposal regarding executive compensation and (3) ratify the appointment of Ernst & Young as Match Group’s independent registered public accounting firm for the 2019 fiscal year. Match Group’s Board of Directors believes that the proposals being submitted for stockholder approval are in the best interests of Match Group and its stockholders and recommends a vote consistent with the Board’s recommendation for each proposal.

It is important that your shares be represented and voted at the Annual Meeting regardless of the size of your holdings. Whether or not you plan to attend the Annual Meeting, please take the time to vote online, by telephone or, if you receive a printed proxy card, by returning a marked, signed and dated proxy card. If you attend the Annual Meeting, you may vote in person if you wish, even if you have previously submitted your vote.

I look forward to greeting those of you who will be able to attend the meeting.

Sincerely,

Amanda Ginsberg Chief Executive Officer

8750 NORTH CENTRAL EXPRESSWAY, SUITE 1400, DALLAS, TEXAS 75231 214.576.9352 www.mtch.com

RLP 286 Table of Contents

MATCH GROUP, INC. 8750 North Central Expressway, Suite 1400 Dallas, Texas 75231

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

To the Stockholders:

Match Group, Inc. (“Match Group”) is making this proxy statement available to holders of our common stock and Class B common stock in connection with the solicitation of proxies by Match Group’s Board of Directors for use at the Annual Meeting of Stockholders to be held on Wednesday, June 19, 2019, at 8:00 a.m., local time, at The London West Hollywood, Kensington Ballroom, 1020 N. San Vicente Blvd., West Hollywood, California 90069. At the Annual Meeting, stockholders will be asked:

1. to elect ten members of our Board of Directors, each to hold office for a one-year term ending on the date of the next succeeding annual meeting of stockholders or until such director’s successor shall have been duly elected and qualified (or, if earlier, such director’s removal or resignation from our Board of Directors);

2. to hold an advisory vote on executive compensation (the “say on pay proposal”);

3. to ratify the appointment of Ernst & Young LLP as Match Group’s independent registered public accounting firm for the 2019 fiscal year; and

4. to transact such other business as may properly come before the meeting and any related adjournments or postponements.

Match Group’s Board of Directors has set April 22, 2019 as the record date for the Annual Meeting. This means that holders of record of our common stock and Class B common stock at the close of business on that date are entitled to receive notice of the Annual Meeting and to vote their shares at the Annual Meeting and any related adjournments or postponements.

As permitted by applicable Securities and Exchange Commission rules, on or about April 30, 2019, we mailed a Notice of Internet Availability of Proxy Materials containing instructions on how to access our Annual Meeting proxy statement and 2018 Annual Report on Form 10-K online, as well as instructions on how to obtain printed copies of these materials by mail.

Only stockholders and persons holding proxies from stockholders may attend the Annual Meeting. Seating is limited, however, and admission to the Annual Meeting will be on a first-come, first-served basis. All attendees will need to bring an admission ticket or other proof of stock ownership as well as a valid photo ID to gain admission to the Annual Meeting. See page 4 for further details.

By order of the Board of Directors,

Jared F. Sine Chief Legal Officer and Secretary

April 30, 2019

RLP 287 Table of Contents

PROXY STATEMENT

TABLE OF CONTENTS

Page

Section Number Questions and Answers About the Annual Meeting and Voting 1

Proposal 1—Election of Directors 5

Proposal and Required Vote 5

Information Concerning Director Nominees 5

Corporate Governance 7

The Board and Board Committees 9

Proposal 2—Advisory Vote on Executive Compensation (the “Say on Pay Proposal”) 10

Proposal 3—Ratification of Appointment of Independent Registered Public Accounting Firm 11

Audit Committee Matters 12

Audit Committee Report 12

Fees Paid to Our Independent Registered Public Accounting Firm 13

Audit and Non-Audit Services Pre-Approval Policy 13

Information Concerning Match Group Executive Officers Who Are Not Directors 14

Compensation Discussion and Analysis 15

Compensation Committee Report 19

Compensation Committee Interlocks and Insider Participation 19

Executive Compensation 20

Overview 20

Summary Compensation Table 20

Grants of Plan-Based Awards in 2018 21

Outstanding Equity Awards at 2018 Fiscal Year-End 22

2018 Option Exercises and Stock Vested 24

Estimated Potential Payments Upon Termination or Change in Control 24

CEO Pay Ratio 26

Equity Compensation Plan Information 27

Director Compensation 28

Security Ownership of Certain Beneficial Owners and Management 29

Section 16(a) Beneficial Ownership Reporting Compliance 31

Certain Relationships and Related Person Transactions 31

Review of Related Person Transactions 31

Relationships Involving Significant Stockholders 31

Annual Reports 32

Stockholder Proposals and Director Nominees for Presentation at the 2020 Annual Meeting 32

Householding 33

Notice of Internet Availability of Proxy Materials 33

Appendix A—Audit Committee Charter A-1

Appendix B—Compensation and Human Resources Committee Charter B-1

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PROXY STATEMENT

QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING AND VOTING

Q: Why did I receive a Notice of Internet Availability of Proxy Materials?

A: In accordance with rules adopted by the Securities and Exchange Commission (the “SEC”), we elected to deliver this Proxy Statement and our 2018 Annual Report on Form 10-K to the majority of our stockholders online in lieu of mailing printed copies of these materials to each of our stockholders (the “Notice Process”). If you received a Notice of Internet Availability of Proxy Materials (the “Notice”) by mail, you will not receive printed copies of our proxy materials unless you request them. Instead, the Notice provides instructions on how to access this Proxy Statement and our 2018 Annual Report on Form 10-K online, as well as how to obtain printed copies of these materials by mail. We believe that the Notice Process allows us to provide our stockholders with the information they need in a more timely manner than if we had elected to mail printed materials, while reducing the environmental impact of, and lowering the costs associated with, the printing and distribution of our proxy materials.

The Notice is being mailed on or about April 30, 2019 to stockholders of record at the close of business on April 22, 2019 and this Proxy Statement and our 2018 Annual Report on Form 10-K will be available at www.proxyvote.com beginning on April 30, 2019. If you received a Notice by mail but would rather receive printed copies of our proxy materials, please follow the instructions included in the Notice. You will not receive a Notice if you have previously elected to receive printed copies of our proxy materials.

Q: Can I vote my shares by filling out and returning the Notice?

A: No. However, the Notice provides instructions on how to vote your shares by way of completing and submitting your proxy online or by phone, by requesting and returning a written proxy card by mail or by submitting a ballot in person at the Annual Meeting.

Q: Who is entitled to vote at the Annual Meeting?

A: Holders of common stock and Class B common stock of Match Group, Inc. (“Match Group” or the “Company”) at the close of business on April 22, 2019, the record date for the Annual Meeting established by Match Group’s Board of Directors, are entitled to receive notice of the Annual Meeting and to vote their shares at the Annual Meeting and any related adjournments or postponements.

At the close of business on April 22, 2019, there were 71,152,525 shares of Match Group common stock and 209,919,402 shares of Match Group Class B common stock outstanding and entitled to vote. Holders of Match Group common stock are entitled to one vote per share and holders of Match Group Class B common stock are entitled to ten votes per share.

Q: What is the difference between a stockholder of record and a stockholder who holds stock in street name?

A: If your Match Group shares are registered in your name, you are a stockholder of record. If your Match Group shares are held in the name of your broker, bank or other holder of record, your shares are held in street name.

You may examine a list of the stockholders of record at the close of business on April 22, 2019 for any purpose germane to the Annual Meeting during normal business hours during the 10-day period preceding the date of the meeting at our Dallas offices, located at 8750 North Central Expressway, Suite 1400, Dallas, Texas 75231. This list will also be made available at the Annual Meeting.

Q: What are the quorum requirements for the Annual Meeting?

A: The presence at the Annual Meeting, in person or by proxy, of holders having a majority of the total votes entitled to be cast by holders of Match Group common stock and Class B common stock at the Annual Meeting constitutes a quorum. Shares of Match Group common stock and Class B common stock represented by proxy will be treated as present at the Annual Meeting for purposes of determining whether there is a quorum, without regard to whether the proxy is marked as casting a vote or abstaining.

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Q: What matters will Match Group stockholders vote on at the Annual Meeting?

A: Match Group stockholders will vote on the following proposals:

· Proposal 1 —to elect ten members of Match Group’s Board of Directors, each to hold office for a one-year term ending on the date of the next succeeding annual meeting of stockholders or until such director’s successor shall have been duly elected and qualified (or, if earlier, such director’s removal or resignation from Match Group’s Board of Directors);

· Proposal 2 —to hold an advisory vote on executive compensation (the “say on pay proposal”);

· Proposal 3 —to ratify the appointment of Ernst & Young LLP as Match Group’s independent registered public accounting firm for the 2019 fiscal year; and

· to transact such other business as may properly come before the Annual Meeting and any related adjournments or postponements.

Q: What are my voting choices when voting for director nominees and what votes are required to elect director nominees to Match Group’s Board of Directors?

A: You may vote in favor of all director nominees, withhold votes as to all director nominees or vote in favor of and withhold votes as to specific director nominees.

The election of each of our director nominees requires the affirmative vote of a plurality of the total number of votes cast by the holders of shares of Match Group common stock and Class B common stock (hereinafter referred to as “Match Group capital stock”) voting together, with each share of Match Group common stock and Class B common stock representing the right to one and ten vote(s), respectively.

The Board recommends that our stockholders vote FOR the election of each of the director nominees.

Q: What are my voting choices when voting on the advisory say on pay proposal and what votes are required to approve this proposal?

A: You may vote in favor of the say on pay proposal, vote against the say on pay proposal or abstain from voting on the say on pay proposal.

The approval, on an advisory basis, of the say on pay proposal requires the affirmative vote of the holders of a majority of the voting power of the shares of Match Group capital stock present at the Annual Meeting in person or represented by proxy and voting together. As an advisory vote, the outcome is not binding on the Company.

The Board recommends that our stockholders vote FOR the say on pay proposal.

Q: What are my voting choices when voting on the ratification of the appointment of Ernst & Young LLP as Match Group’s independent registered public accounting firm for the 2019 fiscal year and what votes are required to ratify this appointment?

A: You may vote in favor of the ratification, vote against the ratification or abstain from voting on the ratification.

The ratification of the appointment of Ernst & Young LLP as Match Group’s independent registered public accounting firm for the 2019 fiscal year requires the affirmative vote of the holders of a majority of the voting power of the shares of Match Group capital stock present at the Annual Meeting in person or represented by proxy and voting together.

The Board recommends that our stockholders vote FOR the ratification of the appointment of Ernst & Young LLP as Match Group’s independent registered public accounting firm for the 2019 fiscal year.

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Q: Could other matters be decided at the Annual Meeting?

A: As of the date of this proxy statement, we did not know of any matters to be raised at the Annual Meeting, other than those referred to in this proxy statement.

If any other matters are properly presented at the Annual Meeting for consideration, the three Match Group officers who have been designated as proxies for the Annual Meeting (Philip D. Eigenmann, Jared F. Sine and Francisco J. Villamar) will have the discretion to vote on those matters for stockholders who have submitted their proxy.

Q: What do I need to do now to vote at the Annual Meeting?

A: Match Group’s Board of Directors is soliciting proxies for use at the Annual Meeting. Stockholders may submit proxies to instruct the designated proxies to vote their shares in any of the following three ways:

· Submitting a proxy online: Submit your proxy online. The website for online proxy voting is www.proxyvote.com . Online proxy voting is available 24 hours a day and will close at 11:59 p.m., Eastern Standard Time, on Tuesday, June 18, 2019;

· Submitting a proxy by telephone: Submit your proxy by telephone by using the toll-free telephone number provided on your proxy card (1.800.690.6903). Telephone proxy voting is available 24 hours a day and will close at 11:59 p.m., Eastern Standard Time, on Tuesday, June 18, 2019; or

· Submitting a proxy by mail: If you choose to submit your proxy by mail, simply mark your proxy, date and sign it, and return it in the postage-paid envelope provided or to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, New York 11717.

If you were a stockholder of record on April 22, 2019 or if you have a legal proxy from your broker, bank or other holder of record identifying you as a beneficial owner of Match Group shares as of that date, you may vote in person by attending the Annual Meeting. All attendees will need to bring an admission ticket or other proof of stock ownership as well as a valid photo ID to gain admission to the Annual Meeting. See page 4 for further details.

For Match Group shares held in street name, holders may submit a proxy online or by telephone if their broker, bank or other holder of record makes these methods available. If you submit a proxy online or by telephone, do not request and return a printed proxy card from Match Group or from your broker, bank or other holder of record. If you hold your shares through a broker, bank or other holder of record, follow the voting instructions you receive from your broker, bank or other holder of record.

Q: If I hold my Match Group shares in street name, will my broker, bank or other holder of record vote these shares for me?

A: If you hold your Match Group shares in street name, you must provide your broker, bank or other holder of record with instructions in order to vote these shares. If you do not provide voting instructions, whether your shares can be voted by your broker, bank or other holder of record depends on the type of item being considered for a vote.

Non-Discretionary Items. The election of directors and the say on pay proposal are non-discretionary items and may NOT be voted on by your broker, bank or other holder of record absent specific voting instructions from you. If your bank, broker or other holder of record does not receive specific voting instructions from you, a “broker non-vote” will occur in the case of your shares of Match Group common stock for these proposals.

Discretionary Items. The ratification of Ernst & Young LLP as Match Group’s independent registered public accounting firm for the 2019 fiscal year is a discretionary item. Generally, brokers, banks and other holders of record that do not receive voting instructions may vote on this proposal in their discretion.

Q: What effect do abstentions and broker non-votes have on quorum requirements and the voting results for each proposal to be voted on at the Annual Meeting?

A: Abstentions and broker non-votes are counted as present for purposes of determining a quorum. Abstentions are treated as shares present and entitled to vote and, as a result, have the same effect as a vote against any proposal for

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which the voting standard is based on the number of shares present at the Annual Meeting (the say on pay proposal and the auditor ratification proposal) and have no impact on the vote on any proposal for which the vote standard is based on the votes cast at the meeting (the election of directors). Broker non-votes are not treated as shares entitled to vote and, as a result, have no effect on the outcome of any of the proposals to be voted on by stockholders at the Annual Meeting.

Q: Can I change my vote or revoke my proxy?

A: Yes. If you are a stockholder of record, you may change your vote or revoke your proxy at any time before the vote at the Annual Meeting by:

· submitting a later-dated proxy relating to the same shares online, by telephone or by mail prior to the vote at the Annual Meeting;

· delivering a written notice, bearing a date later than your proxy, stating that you revoke the proxy; or

· attending the Annual Meeting and voting in person (although attendance at the Annual Meeting will not, by itself, revoke a proxy). All attendees will need to bring an admission ticket or other proof of stock ownership as well as a valid photo ID to gain admission to the Annual Meeting. See the question below for further details.

To change your vote or revoke your proxy, follow the instructions provided on the Notice or the proxy card to do so online or by telephone, or send a written notice or a new proxy card to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, New York 11717.

Q: Who can attend the Annual Meeting, and what are the rules for admission at the meeting?

A: Only stockholders and persons holding proxies from stockholders may attend the Annual Meeting. Seating is limited, however, and admission to the Annual Meeting will be on a first-come, first-served basis. All attendees will need to bring an admission ticket or other proof of stock ownership as well as a valid photo ID to gain admission to the Annual Meeting. If you are a stockholder of record, you may bring the top half of your proxy card or your Notice to serve as your admission ticket. If you hold your shares in street name, you may bring your Notice or voting instruction form (or a copy thereof) to serve as your admission ticket, or you will be required to present proof of ownership to be admitted into the meeting. Acceptable proof of ownership includes a recent brokerage statement or a legal proxy or letter from your broker, bank or other holder of record evidencing your beneficial ownership of Match Group shares as of April 22, 2019.

Q: What if I do not specify a choice for a matter when returning a proxy?

A: If you do not give specific instructions, proxies that are signed and returned will be voted FOR the election of all director nominees, the say on pay proposal and the ratification of the appointment of Ernst & Young LLP as Match Group’s independent registered public accounting firm for the 2019 fiscal year.

Q: How are proxies solicited and who bears the related costs?

A: Match Group bears all expenses incurred in connection with the solicitation of proxies. In addition to solicitations by mail, directors, officers and employees of Match Group may solicit proxies from stockholders by telephone, e-mail, letter, facsimile or in person. Following the initial mailing of the Notice and proxy materials, Match Group will request brokers, banks and other holders of record to forward copies of these materials to persons for whom they hold shares of Match Group common stock and to request authority for the exercise of proxies. In such cases, Match Group, upon the request of these holders, will reimburse these parties for their reasonable expenses.

Q: What should I do if I have questions regarding the Annual Meeting?

A: If you have any questions about the Annual Meeting, would like to obtain directions to attend the Annual Meeting and vote in person or would like copies of any of the documents referred to in this proxy statement, contact Match Group Investors Relations at [email protected] .

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PROPOSAL 1—ELECTION OF DIRECTORS

Proposal and Required Vote

At the upcoming Annual Meeting, a board of ten directors will be elected, each to hold office until the next succeeding annual meeting of stockholders or until such director’s successor shall have been duly elected and qualified (or, if earlier, such director’s removal or resignation from Match Group’s Board of Directors). Information concerning director nominees, all of whom are incumbent directors of Match Group, appears below. Although management does not anticipate that any of the persons named below will be unable or unwilling to stand for election, in the event of such an occurrence, proxies may be voted for a substitute designated by the Board.

The election of each of our director nominees requires the affirmative vote of a plurality of the total number of votes cast by the holders of shares of Match Group capital stock voting together as a single class.

The Board recommends that our stockholders vote FOR the election of all director nominees.

Information Concerning Director Nominees

Background information about each director nominee is set forth below, including information regarding the specific experiences, characteristics, attributes and skills considered in connection with the nomination of each director nominee, all of which the Board of Directors believes provide the Company with the perspective and judgment needed to guide, monitor and execute its strategies.

Amanda Ginsberg , age 49, has served as Chief Executive Officer and a director of Match Group since December 2017. Prior to that time, she served as Chief Executive Officer of Match Group Americas, where she was responsible for the Match U.S. brand, Match Affinity Brands, OkCupid, PlentyOfFish, ParPerfeito and overall North and South American expansion from December 2015 to December 2017. Prior to that, she served in several roles within the Company: Chief Executive Officer of The Princeton Review from July 2014 to December 2015; Chief Executive Officer of Tutor.com from April 2013 to December 2015; Chief Executive Officer from October 2012 to March 2013 and Senior Vice President and General Manager from September 2008 to October 2012 of Match.com; and Vice President and General Manager from March 2006 to September 2008 of Chemistry.com. She has served as a director of J. C. Penney Company, Inc. since July 2015 and served as a director of Care.com from 2012 to 2014. She holds an undergraduate degree from the University of California at Berkeley and an MBA from The Wharton School of the University of Pennsylvania. In nominating Ms. Ginsberg, the Board considered her current position as Chief Executive Officer of the Company as well as her considerable experience managing operations and strategic planning, including in her prior roles within the Company.

Joseph Levin , age 39, has been Chairman of the Board (in an non-executive capacity) of Match Group since December 2017 and a director of Match Group since October 2015. Mr. Levin has served as Chief Executive Officer of IAC since June 2015 and prior to that time, served as Chief Executive Officer of IAC Search & Applications, overseeing the desktop software, mobile applications and media properties that comprised IAC’s former Search & Applications segment, from January 2012. From November 2009 to January 2012, Mr. Levin served as Chief Executive Officer of Mindspark Interactive Network, an IAC subsidiary, and previously served in various capacities at IAC in strategic planning, mergers and acquisitions and finance since joining IAC in 2003. Mr. Levin has served on the boards of directors of IAC, Groupon, Inc. and Homeservices Inc. since June 2015, March 2017 and September 2017, respectively, and currently serves as Chairman of the board of ANGI Homeservices Inc. Mr. Levin previously served on the board of directors of LendingTree, Inc. from August 2008 through November 2014. In addition to his for-profit affiliations, Mr. Levin serves on the Undergraduate Executive Board of Wharton School. In nominating Mr. Levin, the Board considered the unique knowledge and experience regarding Match Group and its businesses that he has gained through his various roles with IAC since 2003, most recently his role as Chief Executive Officer of IAC, as well as his high level of financial literacy and expertise regarding mergers, acquisitions, investments and other strategic transactions.

Ann L. McDaniel , age 63, has been a director of Match Group since December 2015. Ms. McDaniel currently serves as a consultant to Graham Holdings Company and previously served as Senior Vice President of Graham Holdings Company (and its predecessor companies) from June 2008 to April 2015. Prior to that time, Ms. McDaniel served as Vice President-Human Resources of Graham Holdings Company from September 2001. Ms. McDaniel also served as Managing Director of Newsweek, Inc., a Graham Holdings Company property, from January 2008 until its sale in September 2010, and prior to that time, held various editorial positions at Newsweek. In nominating Ms. McDaniel, the Board considered her extensive human resources experience, which the Board believes give her particular insight into personnel and compensation

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RLP 293 Table of Contents matters, as well as her management experience with Newsweek, which the Board believes gives her insight into business strategy, leadership and marketing.

Thomas J. McInerney , age 54, has been a director of Match Group since November 2015. Mr. McInerney has served as Chief Executive Officer of Altaba Inc., a publicly traded registered investment company and the successor company to Yahoo! Inc., since June 2017. Mr. McInerney previously served as Executive Vice President and Chief Financial Officer of IAC from January 2005 to March 2012. From January 2003 through December 2005, he served as Chief Executive Officer of the retailing division of IAC, which included HSN, Inc. and Cornerstone Brands. From May 1999 to January 2003, Mr. McInerney served as Executive Vice President and Chief Financial Officer of , formerly Ticketmaster Online-CitySearch, Inc., a live entertainment ticketing and marketing company. From 1986 to 1988 and from 1990 to 1999, Mr. McInerney worked at Morgan Stanley, a global financial services firm, most recently as Principal. Mr. McInerney has served on the board of directors of Altaba Inc. since June 2017. During the past five years, Mr. McInerney served on the boards of Yahoo! Inc., HSN, Inc., Cardlytics, Inc., and Interval Leisure Group. In nominating Mr. McInerney, the Board considered his extensive senior leadership experience at IAC and his related knowledge and experience regarding Match Group, as well as his high level of financial literacy and expertise regarding restructurings, mergers and acquisitions and operations, and his public company board and committee experience.

Glenn H. Schiffman , age 49, has been a director of Match Group since September 2016. Mr. Schiffman has served as Executive Vice President and Chief Financial Officer of IAC since April 2016 and served as Chief Financial Officer of ANGI Homeservices Inc. from September 2017 to March 2019. Prior to joining IAC, Mr. Schiffman served as Senior Managing Director at Guggenheim Securities, the investment banking and capital markets business of Guggenheim Partners, since March 2013. Prior to his tenure at Guggenheim Securities, Mr. Schiffman was a partner at The Raine Group, a merchant bank focused on advising and investing in the technology, media and telecommunications industries, from September 2011 to March 2013. Prior to joining The Raine Group, Mr. Schiffman served as Co-Head of the Global Media group at Lehman Brothers from 2005 to 2007 and Head of Investment Banking Asia-Pacific at Lehman Brothers (and subsequently Nomura) from April 2007 to January 2010, as well as Head of Investment Banking, Americas from January 2010 to April 2011 for Nomura. Mr. Schiffman’s roles at Nomura followed Nomura’s acquisition of Lehman’s Asia business in 2008. Mr. Schiffman has served on the board of directors of ANGI Homeservices Inc. since June 2017. In his not-for-profit affiliations, Mr. Schiffman is a member of the National Committee on United States-China Relations and serves as a Member of the Board of Visitors for the Duke University School of Medicine. In nominating Mr. Schiffman, the Board considered the unique knowledge and experience regarding Match Group and its businesses that he has gained through his role as Executive Vice President and Chief Financial Officer of IAC since April 2016, as well as his high level of financial literacy and expertise regarding mergers, acquisitions, investments and other strategic transactions. The Board also considered Mr. Schiffman’s investment banking experience, which the Board believes gives him particular insight into trends in capital markets and the technology and media industries.

Pamela S. Seymon , age 63, has been a director of Match Group since November 2015. Ms. Seymon was a partner at Wachtell, Lipton, Rosen & Katz, a New York law firm (“WLRK”), from January 1989 to January 2011, and prior to that time, was an associate at WLRK from 1982. During her tenure at WLRK, Ms. Seymon specialized in corporate law, mergers and acquisitions, securities and corporate governance, and represented public and private corporations on offense as well as defense, in both friendly and unsolicited transactions. Ms. Seymon is a graduate of Wellesley College, where she was a Wellesley Scholar, and New York University School of Law. In nominating Ms. Seymon, the Board considered her extensive experience representing public and private corporations in connection with a wide array of complex, sophisticated and high profile matters, as well as her high level of expertise generally regarding mergers, acquisitions, investments and other strategic transactions.

Alan G. Spoon , age 67, has been a director of Match Group since November 2015. Mr. Spoon served as General Partner and Partner Emeritus of Polaris Partners from 2011 to 2018. He previously served as Managing General Partner of Polaris Partners from 2000 to 2010. Polaris Partners is a private investment firm that provides venture capital and management assistance to development stage information technology and life sciences companies. Mr. Spoon was Chief Operating Officer and a director of The Washington Post Company (now known as Graham Holdings Company) from March 1991 through May 2000 and served as President from September 1993 through May 2000. Prior to his service in these roles, he held a wide variety of positions at The Washington Post Company, including President of Newsweek from September 1989 to May 1991. Mr. Spoon has served as a member of the board of directors of IAC (and its predecessors) since February 2003, Danaher Corporation since July 1999, CableOne since July 2015 and as Chairman of the board of directors of Fortive Corporation since July 2016. In his not-for-profit affiliations, Mr. Spoon was a member of the Board of Regents at the Smithsonian Institution (formerly Vice Chairman) and is now a member of the MIT Corporation (and its Executive Committee). He also serves as a member of the board of directors of edX, a not-for-profit online education platform sponsored by Harvard and the MIT Corporation. In nominating Mr. Spoon, the Board considered his extensive private and

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RLP 294 Table of Contents public company board experience and public company management experience, all of which the Board believes give him particular insight into business strategy, leadership and marketing in the media industry. The Board also considered Mr. Spoon’s private equity experience and engagement with the MIT Corporation, which the Board believes gives him particular insight into trends in the internet and technology industries, as well as into acquisition strategy and financing.

Mark Stein , age 51, has been a director of Match Group since November 2015. Mr. Stein has served as Executive Vice President and Chief Strategy Officer of IAC since January 2016 and prior to that time, served as Senior Vice President and Chief Strategy Officer of IAC from September 2015. Mr. Stein previously served as both Senior Vice President of Corporate Development at IAC (from January 2008) and Chief Strategy Officer of IAC Search & Applications, the desktop software, mobile applications and media properties that comprised IAC’s former Search & Applications segment (from November 2012). Prior to his service in these roles, Mr. Stein served in several other capacities for IAC and its businesses, including as Chief Strategy Officer of Mindspark Interactive Network from 2009 to 2012, and prior to that time as Executive Vice President of Corporate and Business Development of IAC Search & Media. Mr. Stein has served on the board of directors of ANGI Homeservices Inc. since September 2017. In nominating Mr. Stein, the Board considered the unique knowledge and experience that he has gained through his various roles with IAC since 2005, as well as his high levels of financial and legal literacy, experience in operating a variety of online consumer service businesses and expertise regarding investments, partnerships and other strategic transactions.

Gregg Winiarski , age 48, has been a director of Match Group since October 2015. Mr. Winiarski has served as Executive Vice President, General Counsel and Secretary of IAC since February 2014 and previously served as Senior Vice President, General Counsel and Secretary of IAC from February 2009 to February 2014. Mr. Winiarski previously served as Associate General Counsel of IAC from February 2005, during which time he had primary responsibility for all legal aspects of IAC’s mergers and acquisitions and other transactional work. Prior to joining IAC in February 2005, Mr. Winiarski was an associate with Skadden, Arps, Slate, Meagher & Flom LLP, a global law firm, from 1997 to February 2005. Prior to joining Skadden, Mr. Winiarski was a certified public accountant with Ernst & Young in New York. Mr. Winiarski has served on the board of directors of ANGI Homeservices Inc. since June 2017. In nominating Mr. Winiarski, the Board considered the unique knowledge and experience regarding Match Group and its businesses that he has gained through his various roles with IAC since 2005, most recently his role as Executive Vice President and General Counsel, as well as his high level of financial literacy and expertise regarding mergers, acquisitions, investments and other strategic transactions.

Sam Yagan , age 42, has been a director of Match Group since February 2016. Mr. Yagan previously served as Chief Executive Officer of the Company from December 2013 through December 2015 and as Chief Executive Officer of Match.com, Inc. from September 2012 to December 2013. Prior to his service in these roles, Mr. Yagan served as Chief Executive Officer of OkCupid, which he co-founded in May 2003 and IAC acquired in February 2011. Mr. Yagan has served as Chief Executive Officer of ShopRunner, a members-only online shopping service, since July 2016. In nominating Mr. Yagan, the Board considered the unique knowledge and experience regarding Match Group and its businesses that he has gained through his various roles with Match Group and Match.com since 2012, most recently his role as Chief Executive Officer of Match Group, as well his role as co-founder of OkCupid and his high levels of technological, product and industry expertise.

Corporate Governance

Controlled Company Status. Match Group is subject to the Marketplace Rules of The Nasdaq Stock Market, LLC (the “Marketplace Rules”), which exempt “Controlled Companies” from certain Nasdaq corporate governance requirements. A “Controlled Company” is a company of which more than 50% of the voting power is held by an individual, group or another company.

IAC controls a majority of the voting power of Match Group capital stock. Based on 71,152,525 shares of Match Group common stock and 209,919,402 shares of Match Group Class B common stock outstanding on the record date (April 22, 2019), IAC beneficially owns equity securities of Match Group representing approximately 97.5% of the total voting power of Match Group capital stock. IAC has filed a Statement of Beneficial Ownership on Schedule 13D, as amended, relating to its Match Group holdings with the SEC. On this basis, Match Group is relying on the exemption for Controlled Companies from certain Nasdaq corporate governance requirements, specifically, those that would otherwise require that:

· a majority of Match Group’s Board of Directors consist of “independent” directors, as such term is defined in the Marketplace Rules; and

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· Match Group have a nominating/governance committee comprised entirely of “independent” directors with a written charter addressing such committee’s purpose and responsibilities.

Leadership Structure. The Company’s business and affairs are overseen by its Board of Directors, which currently has ten members. There is one management representative, one former member of management and four IAC representatives on the Board. Each of the other four remaining directors is independent. The Board has an Audit Committee and a Compensation and Human Resources Committee, each comprised solely of independent directors. For more information regarding director independence and our Board Committees, see the discussion under Director Independence below and The Board and Board Committees beginning on page 9. All of our directors play an active role in Board matters, are encouraged to communicate among themselves and directly with the Chief Executive Officer and have full access to Company management at all times.

Our independent directors meet in scheduled executive sessions without management present at least twice a year and may schedule additional meetings as they deem appropriate. We do not have a lead independent director or any other formally appointed leader for these sessions. The independent membership of our Audit and Compensation and Human Resources Committees ensures that directors with no ties to Company management are charged with oversight for all financial reporting and executive compensation related decisions made by Company management. At each regularly scheduled Board meeting, the Chairperson of each of these committees will provide the full Board with an update of all significant matters discussed, reviewed, considered and/or approved by the relevant committee since the last regularly scheduled Board meeting.

Mr. Levin has served as our Chairman (in a non-executive capacity) since December 2017. The roles of Chairman and Chief Executive Officer are currently separated in recognition of the differences between the two roles. We believe that it is in the best interests of our stockholders for the Board to make a determination regarding the separation or combination of these roles each time it elects a new Chairman or appoints a Chief Executive Officer, based on the relevant facts and circumstances applicable at such time.

Risk Oversight. Company management is responsible for assessing and managing the Company’s exposure to various risks on a day-to-day basis, which responsibilities include the creation of appropriate risk management programs and policies. Company management has developed and implemented guidelines and policies to identify, assess and manage significant risks facing the Company. In developing this framework, the Company recognized that leadership and success are impossible without taking risks; however, the imprudent acceptance of risks or the failure to appropriately identify and mitigate risks could adversely impact stockholder value. The Board is responsible for overseeing Company management in the execution of its responsibilities and for assessing the Company’s approach to risk management. The Board exercises these responsibilities periodically as part of its meetings and through discussions with Company management, as well as through the Board’s Audit and Compensation and Human Resources Committees, which examine various components of financial and compensation-related risks, respectively, as part of their responsibilities. Information security is a key component of risk management at Match Group and our Chief Technology Officer briefs the Audit Committee each quarter, and the full Board as appropriate, on the Company’s information security program and its related priorities and controls. In addition, an overall review of risks is inherent in the Board’s consideration of the Company’s long-term strategies and in the transactions and other matters presented to the Board, including significant capital expenditures, acquisitions and divestitures and financial matters. The Board’s role in risk oversight of the Company is consistent with the Company’s leadership structure, with the Chief Executive Officer and other members of senior management having responsibility for assessing and managing the Company’s risk exposure, and the Board and its committees providing oversight in connection with those efforts.

Compensation Risk Assessment. We periodically conduct risk assessments of our compensation policies and practices for our employees, including those related to our executive compensation programs. The goal of these assessments is to determine whether the general structure of the Company’s compensation policies and programs and the administration of these programs pose any material risks to the Company. The findings of any risk assessment are discussed with the Compensation and Human Resources Committee. Based upon our assessments, we believe that our compensation policies and programs do not encourage excessive or unnecessary risk-taking and are not reasonably likely to have a material adverse effect on the Company.

Director Independence. Under the Marketplace Rules, the Board has a responsibility to make an affirmative determination that those members of the Board who serve as independent directors do not have any relationships with us and our businesses (and/or IAC and its businesses) that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. In connection with the independence determinations described below, the Board reviewed information regarding transactions, relationships and arrangements relevant to independence, including those required by the Marketplace Rules. This information is obtained from director responses to questionnaires circulated by Company

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RLP 296 Table of Contents management, as well as from Company records and publicly available information. Following these determinations, Company management monitors those transactions, relationships and arrangements that were relevant to such determinations, as well as periodically solicits updated information potentially relevant to independence from internal personnel and directors, to determine whether there have been any developments that could potentially have an adverse impact on the Board’s prior independence determinations.

In February 2019, the Board determined that each of Mses. McDaniel and Seymon and Messrs. McInerney and Spoon is independent. In connection with these determinations, the Board considered that in the ordinary course of business, Match Group and its businesses (and/or IAC and its businesses) may sell products and services to, and/or purchase products and services from, companies at which certain directors are employed or serve as directors, or over which certain directors otherwise exert control. Furthermore, the Board considered whether there were any payments made to (or received from) such entities by Match Group and its businesses (and/or IAC and its businesses). In the case of all four independent directors, there were no such payments to/from Match Group or its businesses known to Company management for the Board to consider. In the case of Mr. Spoon, the Board also considered payments for services between each of IAC and Match Group, on the one hand, and certain Polaris Partners portfolio companies, on the other hand.

In addition to the satisfaction of the director independence requirements set forth in the Marketplace Rules, members of the Audit and Compensation and Human Resources Committees have also satisfied separate independence requirements under the current standards imposed by the SEC and the Marketplace Rules for audit committee members and by the SEC, the Marketplace Rules and the Internal Revenue Service for compensation committee members.

Director Nominations. As a result of the Controlled Company exemption, the Board does not have a nominating committee or other committee performing similar functions nor any formal policy on nominations. While there are no specific requirements for eligibility to serve as a director of Match Group, in evaluating candidates, the Board will consider (regardless of how the candidate was identified or recommended) whether the professional and personal ethics and values of the candidate are consistent with those of Match Group, whether the candidate’s experience and expertise would be beneficial to the Board, whether the candidate is willing and able to devote the necessary time and energy to the work of the Board and whether the candidate is prepared and qualified to represent the best interests of Match Group’s stockholders. While the Board does not have a formal diversity policy, it also considers the overall diversity of the experiences, characteristics, attributes, skills and backgrounds of candidates relative to those of other Board members and those represented by the Board as a whole to ensure that the Board has the right mix of skills, expertise and background.

The Board does not have a formal policy regarding the consideration of director nominees recommended by stockholders, as to date Match Group has not received any such recommendations. However, the Board would consider such recommendations if made in the future. Stockholders who wish to make such a recommendation should send the recommendation to Match Group, 8750 North Central Expressway, Suite 1400, Dallas, Texas 75231, Attention: Corporate Secretary. The envelope must contain a clear notation that the enclosed letter is a “Director Nominee Recommendation.” The letter must identify the author as a stockholder, provide a brief summary of the candidate’s qualifications and history, together with an indication that the recommended individual would be willing to serve (if elected), and must be accompanied by evidence of the sender’s stock ownership. Any director recommendations will be reviewed by the Corporate Secretary and the Chairman, and if deemed appropriate, will be shared with the entire Board for further review.

Communications with the Match Group Board. Stockholders who wish to communicate with Match Group’s Board of Directors or a particular director may send any such communication to Match Group, 8750 North Central Expressway, Suite 1400, Dallas, Texas, 75231, Attention: Corporate Secretary.

The mailing envelope must contain a clear notation indicating that the enclosed letter is a “Stockholder—Board Communication” or “Stockholder—Director Communication.” All such letters must identify the author as a stockholder, provide evidence of the sender’s stock ownership and clearly state whether the intended recipients are all members of the Board or a particular director or directors. The Corporate Secretary will then review such correspondence and forward it to the Board, or to the specified director(s), if appropriate.

The Board and Board Committees

The Board. The Board met four times and acted by written consent one time during 2018. During 2018, all then incumbent directors attended at least 75% of the meetings of the Board and the Board committees on which they served. Directors are not required to attend annual meetings of Match Group stockholders. One member of the Board of Directors attended Match Group’s 2018 Annual Meeting of Stockholders.

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The Board currently has two standing committees: the Audit Committee and the Compensation and Human Resources Committee.

Audit Committee. The members of the Company’s Audit Committee, all of whom are independent directors, are Ms. Seymon and Messrs. McInerney and Spoon (Chairperson). The Audit Committee met nine times and acted by written consent one time during 2018. The Audit Committee functions pursuant to a written charter adopted by the Board of Directors, the most recent version of which is attached as Appendix A to this proxy statement. The Audit Committee is appointed by the Board to assist the Board with a variety of matters described in its charter, which include monitoring: (i) the integrity of Match Group’s financial statements, (ii) the effectiveness of Match Group’s internal control over financial reporting, (iii) the qualifications and independence of Match Group’s independent registered public accounting firm, (iv) the performance of Match Group’s internal audit function and independent registered public accounting firm, (v) Match Group’s risk assessment and risk management policies as they relate to financial, information security and other risk exposures and (vi) the compliance by Match Group with legal and regulatory requirements. In fulfilling its purpose, the Audit Committee maintains free and open communication among itself, the Company’s independent registered public accounting firm, the Company’s internal auditors and Company management. The formal report of the Audit Committee is set forth on page 12.

The Board has concluded that Mr. Spoon is an “audit committee financial expert,” as such term is defined in applicable SEC rules, as well as the Marketplace Rules.

Compensation and Human Resources Committee. The members of the Company’s Compensation and Human Resources Committee, both of whom are independent directors, are Mses. McDaniel (Chairperson) and Seymon. The Compensation and Human Resources Committee met seven times and acted by written consent five times during 2018. The Compensation and Human Resources Committee functions pursuant to a written charter adopted by the Board of Directors, the most recent version of which is attached as Appendix B to this proxy statement. The Compensation and Human Resources Committee is appointed by the Board to assist the Board with all matters relating to the compensation of the Company’s executive officers and has overall responsibility for approving and evaluating all compensation plans, policies and programs of the Company as they affect the Company’s executive officers. The Compensation and Human Resources Committee may form and delegate authority to subcommittees and may delegate authority to one or more of its members. The Compensation and Human Resources Committee may also delegate to one or more of the Company’s executive officers the authority to make grants of equity-based compensation to eligible individuals (other than directors or executive officers) to the extent allowed under applicable law. For additional information on Match Group’s processes and procedures for the consideration and determination of executive compensation and the related roles of the Compensation and Human Resources Committee, Company management and consultants, see the discussion under Compensation Discussion and Analysis generally beginning on page 15. The formal report of the Compensation and Human Resources Committee is set forth on page 19.

PROPOSAL 2—ADVISORY VOTE ON EXECUTIVE COMPENSATION (THE SAY ON PAY PROPOSAL)

As required pursuant to Section 14A of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), we are seeking a non-binding advisory vote from our stockholders to approve the compensation of our named executives for 2018. This proposal, which we refer to as the “say on pay vote,” is not intended to address any specific item of compensation, but rather our overall compensation program and policies relating to our named executives.

As described in detail under the caption Compensation Discussion and Analysis, beginning on page 15, our executive officer compensation program is designed to provide the level of compensation necessary to attract, retain, motivate and reward talented and experienced executives and to motivate them to achieve short-term and long-term goals, thereby enhancing stockholder value and creating a successful company.

We believe that our executive officer compensation program, with its balance of short-term and long-term incentives, rewards sustained performance that is aligned with long-term stockholder interests. Accordingly, we believe that the compensation paid to our named executives in 2018 pursuant to our executive officer compensation program was fair and appropriate and are asking our stockholders to vote FOR the adoption of the following resolution:

“ RESOLVED , that the stockholders of Match Group, Inc. (the “Company”) approve, on an advisory basis, the compensation of the Company’s named executives for 2018, as disclosed in the Company’s Proxy Statement for the 2019 Annual Meeting of Stockholders pursuant to the U.S. Securities and Exchange Commission’s compensation disclosure rules, including the Compensation Discussion and Analysis, the Executive Compensation tables and the related narrative discussion.”

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The approval, on an advisory basis, of the say on pay vote proposal requires the affirmative vote of the holders of a majority of the voting power of shares of Match Group capital stock present at the Annual Meeting in person or represented by proxy and voting together. The vote is advisory in nature and therefore not binding on us or our Board. However, our Board and Compensation and Human Resources Committee value the opinions of all of our stockholders and will consider the outcome of this vote when making future compensation decisions for our named executives.

The Board recommends that our stockholders vote FOR the advisory vote on executive compensation.

The Company last sought a say on pay vote at its 2016 Annual Meeting of Stockholders, at which it also sought a non-binding advisory vote from its stockholders on the frequency of seeking the say on pay vote (required by applicable law every six years) and recommended seeking the say on pay vote once every three years. Based on voting results from the 2016 Annual Meeting of Stockholders, and consistent with the Company’s recommendation, say on pay votes occur every three years. Accordingly, the next say on pay vote and the next non-binding advisory vote regarding the frequency of seeking the say on pay vote are both scheduled to be held at the Company’s 2022 Annual Meeting of Stockholders.

PROPOSAL 3—RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Subject to stockholder ratification, the Audit Committee of the Board of Directors has appointed Ernst & Young LLP as Match Group’s independent registered public accounting firm for the fiscal year ending December 31, 2019. Ernst & Young LLP has served as the independent registered public accounting firm for IAC and Match Group (when it was a wholly-owned subsidiary of IAC and following the completion of its initial public offering in November 2015) for many years and is considered by management to be well qualified.

A representative of Ernst & Young LLP is expected to be present at the Annual Meeting and will be given an opportunity to make a statement if he or she so chooses and will be available to respond to appropriate questions.

Ratification of the appointment of Ernst & Young LLP as Match Group’s independent registered public accounting firm requires the affirmative vote of the holders of a majority of the voting power of the shares of Match Group capital stock present at the Annual Meeting in person or represented by proxy and voting together.

The Board recommends that our stockholders vote FOR the ratification of the appointment of Ernst & Young LLP as Match Group’s independent registered public accounting firm for the fiscal year ending December 31, 2019.

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AUDIT COMMITTEE MATTERS

Audit Committee Report

The Audit Committee functions pursuant to a written charter adopted by the Board of Directors, the most recent version of which is attached as Appendix A to this proxy statement. The Audit Committee charter governs the operations of the Audit Committee and sets forth its responsibilities, which include providing assistance to the Board of Directors with the monitoring of: (i) the integrity of Match Group’s financial statements, (ii) the effectiveness of Match Group’s internal control over financial reporting, (iii) the qualifications and independence of Match Group’s independent registered public accounting firm, (iv) the performance of Match Group’s internal audit function and independent registered public accounting firm, (v) Match Group’s risk assessment and risk management policies as they relate to financial and other risk exposures and (vi) the compliance by Match Group with legal and regulatory requirements. It is not the duty of the Audit Committee to plan or conduct audits or to determine that Match Group’s financial statements and disclosures are complete, accurate and have been prepared in accordance with generally accepted accounting principles and applicable rules and regulations. Management is responsible for Match Group’s financial reporting process, including systems of internal control over financial reporting. The independent registered public accountants are responsible for performing an independent audit of Match Group’s consolidated financial statements and the effectiveness of the Match Group’s internal control over financial reporting in accordance with the standards of the Public Company Accounting Oversight Board, and to issue a report thereon. The Audit Committee’s responsibility is to engage the independent auditor and otherwise to monitor and oversee these processes.

In fulfilling its responsibilities, the Audit Committee has reviewed and discussed the audited consolidated financial statements of Match Group included in the Annual Report on Form 10-K for the year ended December 31, 2018 with Match Group’s management and Ernst & Young LLP, Match Group’s independent registered public accounting firm.

The Audit Committee has discussed with Ernst & Young the matters required to be discussed by PCAOB Auditing Standard No. 1301, “Communications with Audit Committees.” In addition, the Committee has received the written disclosures and letter from Ernst & Young required by applicable requirements of the Public Company Accounting Oversight Board regarding Ernst & Young’s communications with the Audit Committee concerning independence and has discussed with Ernst & Young its independence from Match Group and its management.

In reliance on the reviews and discussions referred to above, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements for Match Group be included in Match Group’s Annual Report on Form 10-K for the year ended December 31, 2018 for filing with the SEC.

Members of the Audit Committee

Alan G. Spoon (Chairperson) Thomas J. McInerney Pamela S. Seymon

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Fees Paid to Our Independent Registered Public Accounting Firm

The following table sets forth fees for all professional services rendered by Ernst & Young LLP to Match Group for the years ended December 31, 2018 and 2017:

2018 2017 Audit Fees $ 2,920,000(1) $ 2,954,700(2)

Audit-Related Fees — —

Total Audit and Audit-Related Fees $ 2,920,000 $ 2,954,700

Tax Fees(3) $ 2,400 $ 2,400

Total Fees $ 2,922,400 $ 2,957,100

(1) Audit Fees in 2018 include: (i) fees associated with the annual audit of financial statements and internal control over financial reporting and the review of periodic reports, (ii) statutory audits (audits performed for certain Match Group businesses in various jurisdictions abroad, which audits are required by local law), (iii) fees for services performed in connection with the private unregistered offering of Match Group’s 5.625% Senior Notes due 2029, as well as the review and issuance of the related comfort letter and other services related to the offering, and (iv) accounting consultations.

(2) Audit Fees in 2017 include: (i) fees associated with the annual audit of financial statements and internal control over financial reporting and the review of periodic reports, (ii) statutory audits (audits performed for certain Match Group businesses in various jurisdictions abroad, which audits are required by local law), (iii) fees for services performed in connection with the private unregistered offering of Match Group’s 5.0% Senior Notes due 2027, as well as the review and issuance of the related comfort letter and other services related to the offering, and (iv) accounting consultations.

(3) Tax Fees in 2018 and 2017 primarily include fees paid for tax compliance services.

Audit and Non-Audit Services Pre-Approval Policy

The Audit Committee has a policy governing the pre-approval of all audit and permitted non-audit services performed by Match Group’s independent registered public accounting firm in order to ensure that the provision of these services does not impair such firm’s independence from Match Group and its management. Unless a type of service to be provided by Match Group’s independent registered public accounting firm has received general pre-approval, it requires specific pre-approval by the Audit Committee. Any proposed services in excess of pre-approved cost levels also require specific pre-approval by the Audit Committee. In all pre-approval instances, the Audit Committee considers whether such services are consistent with SEC rules regarding auditor independence.

All Tax services require specific pre-approval by the Audit Committee. In addition, the Audit Committee has designated specific services that have the pre-approval of the Audit Committee (each of which is subject to pre-approved cost levels) and has classified these pre-approved services into one of three categories: Audit, Audit-Related and All Other (excluding Tax). The term of any pre-approval is 12 months from the date of the pre-approval, unless the Audit Committee specifically provides for a different period. The Audit Committee revises the list of pre-approved services from time to time. Pre-approved fee levels for all services to be provided by Match Group’s independent registered public accounting firm are established periodically from time to time by the Audit Committee.

Pursuant to the pre-approval policy, the Audit Committee may delegate its authority to grant pre-approvals to one or more of its members, and has currently delegated this authority to its Chairman. The decisions of the Chairman (or any other member(s) to whom such authority may be delegated) to grant pre-approvals must be presented to the full Audit Committee at its next scheduled meeting. The Audit Committee may not delegate its responsibilities to pre-approve services to management.

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INFORMATION CONCERNING MATCH GROUP EXECUTIVE OFFICERS WHO ARE NOT DIRECTORS

Background information about Match Group’s current executive officers who are not director nominees is set forth below. For background information about Match Group’s Chief Executive Officer, Amanda Ginsberg, see the discussion under Information Concerning Director Nominees beginning on page 5.

Sharmistha Dubey , age 48, has served as President of Match Group since January 2018. Prior to that time, she served as Chief Operating Officer of Tinder from February 2017 to January 2018 and as President of Match Group Americas, where she oversaw the product and business operations for North American dating properties, including the Match U.S. brand, PlentyOfFish, OkCupid and Match Affinity Brands, from December 2015 to January 2018. Prior to that, she served in multiple roles within the Company: Chief Product Officer of The Princeton Review and Tutor.com from July 2014 to December 2015; Executive Vice President of Tutor.com from April 2013 to July 2014; Chief Product Officer of Match.com from January 2013 through April 2013 and Senior Vice President, Match.com and Chemistry.com from September 2008 through December 2012. She holds an undergraduate degree in engineering from the Indian Institute of Technology and a master’s in engineering from Ohio State University.

Jared F. Sine , age 40, has served as Chief Legal Officer and Secretary of Match Group since February 2019; and prior to that time, he served as General Counsel and Secretary of Match Group from July 2016. Prior to joining Match Group, Mr. Sine was Vice President and Associate General Counsel of Expedia Group, Inc. (“Expedia”) from July 2015 to June 2016 and in that capacity was responsible for mergers, acquisitions and other strategic transactions. Prior to that time, Mr. Sine held a variety of legal positions at Expedia from October 2012. Prior to joining Expedia, Mr. Sine was an associate at the law firms of Latham & Watkins and Cravath, Swaine & Moore. Mr. Sine has a BS and JD from Brigham Young University.

Gary Swidler , age 48, has served as Chief Financial Officer of Match Group since September 2015. Prior to that time, Mr. Swidler was a Managing Director and Head of the Financial Institutions Investment Banking Group at Bank of America Merrill Lynch (“Merrill Lynch”) from April 2014 to August 2015. Prior to that time, Mr. Swidler held a variety of positions at Merrill Lynch and its predecessors since 1997, most recently as Managing Director and Head of Specialty Finance from April 2009 to April 2014. Prior to joining Merrill Lynch, Mr. Swidler was an associate at the law firm of Wachtell, Lipton, Rosen & Katz. Mr. Swidler has a BSE from the Wharton School at the University of Pennsylvania and a JD from New York University School of Law.

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COMPENSATION DISCUSSION AND ANALYSIS

Introduction

Our executive officers whose compensation is discussed in this compensation discussion and analysis (the “CD&A”) and to whom we refer to as our named executive officers in this CD&A (the “NEOs”) are:

· Amanda Ginsberg, Chief Executive Officer;

· Gary Swidler, Chief Financial Officer;

· Sharmistha Dubey, President; and

· Jared Sine, Chief Legal Officer and Secretary.

Philosophy and Objectives

Match Group’s executive officer compensation program is designed to increase long-term stockholder value by attracting, retaining, motivating and rewarding leaders with the competence, character, experience and ambition necessary to enable Match Group to meet its growth objectives.

Although Match Group is a publicly traded company, we attempt to foster an entrepreneurial culture given that we operate a broad and diverse portfolio of dating brands, and we seek to attract and retain senior executives with entrepreneurial backgrounds, attitudes and aspirations. Accordingly, when attempting to recruit and retain our executive officers, as well as other executives who may become executive officers at a later time, we compete not only with other public companies, but also with earlier stage companies, companies funded by financial sponsors, such as private equity and venture capital firms, financial sponsors themselves and professional firms. We structure our compensation program so that we can compete in this varied marketplace for talent, with an emphasis on variable, contingent compensation and long-term equity ownership.

When establishing compensation packages for a given executive, Match Group follows a flexible approach, and makes decisions based on a host of factors particular to a given executive’s situation, including our firsthand experience with the competition for recruiting and retaining executives, negotiation and discussion with the relevant individual, competitive survey data, internal equity considerations and other factors we deem relevant at the time.

Similarly, Match Group does not follow an arithmetic approach to establishing compensation levels and measuring and rewarding performance, as we believe these approaches often fail to adequately take into account the multiple factors that contribute to success at the individual executive and business level. In any given period, Match Group may have multiple objectives, and these objectives, and their relative importance, often change as the competitive and strategic landscapes shift, even within a given compensation cycle. As a result, formulaic approaches often over-compensate or under-compensate a given performance level. Accordingly, we have historically avoided the use of strict formulas in our compensation practices and rely primarily on a discretionary approach.

Roles and Responsibilities

The Compensation and Human Resources Committee of the Company’s Board of Directors (for purposes of this CD&A, the “Committee”) has primary responsibility for establishing the compensation of the Company’s executive officers. All compensation decisions referred to throughout this CD&A have been made by the Committee, based (in part) on recommendations from Ms. Ginsberg (as described below), and with input from representatives of the Company’s majority stockholder. The Committee currently consists of Mses. McDaniel (Chairperson) and Seymon.

The executive officers participate in structuring Company-wide compensation programs and in establishing appropriate bonus and equity pools. In early 2019, Ms. Ginsberg met with the Committee and discussed her views of corporate and individual executive officer performance for 2018 for Ms. Dubey and Messrs. Swidler and Sine, and her recommendations for annual bonuses for those executive officers. She also discussed her own performance with the Committee. Following these discussions, the Committee met in executive session to discuss the recommendations, including their views of corporate and individual performance for 2018 for Ms. Ginsberg. After consideration of the recommendations, the input and recommendations from representatives of the Company’s majority stockholder and their own evaluations, the Committee ultimately determined annual bonus amounts for each executive officer.

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In establishing a given executive officer’s compensation package, each individual component is evaluated independently and in relation to the package as a whole. Prior earning histories and outstanding long-term compensation arrangements are also reviewed and taken into account. However, Match Group does not believe in any formulaic relationship or targeted allocation between these elements. Instead, each individual executive’s situation is evaluated on a case-by-case basis each year, considering the variety of relevant factors at that time.

Match Group provides its stockholders with the opportunity to cast a triennial advisory vote on executive compensation (“say-on-pay”), which reflects the preference expressed by stockholders in 2016 with respect to the frequency of the say-on-pay vote. At Match Group’s annual meeting of stockholders held in June 2016, a substantial majority of the votes cast on the say-on-pay proposal at that meeting were voted in favor of the proposal. The Committee believes that the vote reflected stockholder support of Match Group’s approach to executive compensation, and, as such, did not make changes based on the 2016 vote. The Committee will continue to consider the outcome of say-on-pay votes when making future compensation decisions for executive officers.

Although the Committee reserves the right to solicit the advice of consulting firms and engage legal counsel, except as noted below, no such consulting firms or legal counsel were engaged during 2018.

In addition, from time to time, the Company may solicit survey or peer compensation data from various consulting firms. In 2018, the Company engaged Compensation Advisory Partners LLC (“CAP”) to provide comparative market data in connection with the Company’s own analysis of its equity compensation practices, but neither CAP nor any other compensation consultant had any role in determining or recommending the amount or form of executive compensation for 2018.

Compensation Elements

Match Group’s compensation packages for executive officers have primarily consisted of salary, annual bonuses, long term incentives (typically equity awards), and, to a more limited extent, perquisites and other benefits. Prior to making specific decisions related to any particular element of compensation, we typically review the total compensation of each executive, evaluating the executive’s total near- and long-term compensation in the aggregate. We then determine which element or combinations of compensation elements (salary, bonus and/or equity) can be used most effectively to further our compensation objectives. However, all such decisions are subjective, and are made on a facts and circumstances basis without any prescribed relationship between the various elements of the total compensation package.

Salary

General. Match Group typically negotiates a new executive officer’s starting salary based on prior compensation levels for the particular position within Match Group, the location of a particular executive, salary levels of other executives within Match Group, salary levels available to the individual in alternative opportunities, reference to certain survey information and the extent to which Match Group desires to secure the executive’s services.

Once established, salaries can increase based on a number of factors, including the assumption of additional responsibilities, internal equity, periodic market checks and other factors that demonstrate an executive’s increased value to Match Group.

2018. In July 2018, we entered into an employment agreement with Ms. Ginsberg in connection with her ongoing duties as Chief Executive Officer and, pursuant to the agreement, her annual salary was increased from $500,000 to $750,000, effective as of December 5, 2017, the date of her appointment. In August 2018, we entered into an employment agreement with Ms. Dubey in connection with her ongoing duties as President and, pursuant to the agreement, her annual salary was increased from $500,000 to $625,000, effective as of August 8, 2018. No other executive officer salaries were established or adjusted during 2018.

Annual Bonuses

General. Match Group’s bonus program is designed to reward performance on an annual basis and annual bonuses are discretionary. Because of the variable nature of the bonus program, and because in any given year bonuses have the potential to make up a significant portion of an executive’s total compensation, the bonus program provides an important incentive tool to achieve Match Group’s annual objectives. Match Group generally pays bonuses shortly after year-end following finalization of financial results for the prior year.

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The determination of bonus amounts is based on a non-formulaic assessment of factors that vary from year to year, including a discretionary assessment of Company and, to a lesser extent, individual performance. In determining individual annual bonus amounts, we consider a variety of factors regarding the Company’s overall performance, such as growth in profitability or achievement of strategic objectives by the Company, an individual’s performance and contribution to the Company, and general bonus expectations previously established between the Company and the executive. We do not quantify the weight given to any specific element or otherwise follow a formulaic calculation; however, Company performance tends to be the dominant driver of the ultimate bonus amount.

For 2018 bonuses, we considered a variety of factors, including, among others, year-over-year revenue and Adjusted EBITDA growth, levels of cash flow generated from operations, and certain strategic accomplishments, including debt financings, strategic transactions and the general successful operation of the Company. While these factors were the primary ones considered in setting bonus award amounts, the Committee also considered each executive officer’s role and responsibilities, the relative contributions made by each executive officer during the year and the relative size of the bonuses paid to the other executive officers. With respect to bonuses for NEOs, the Committee considered the following: (i) with respect to Ms. Ginsberg, her new role as Chief Executive Officer of the Company, including her focus on overseeing the operations of, and developing the strategic agenda for, the Company, (ii) with respect to Mr. Swidler, his role as Chief Financial Officer of the Company, including his management of the Company’s financial operations and his oversight of the Company’s credit agreement amendment, (iii) with respect to Ms. Dubey, her new role as President of the Company, including her substantial contributions to various significant strategic initiatives, and (iv) with respect to Mr. Sine, his role as General Counsel, including his management of the Company’s legal operations.

Executive officer bonuses tend to be highly variable from year-to-year depending on the performance of the Company and, in certain circumstances, individual executive officer performance. Accordingly, we believe our executive officer bonus program provides strong incentives to reach the Company’s annual goals.

Long-Term Incentives

General. Match Group believes that ownership shapes behavior, and that by providing a meaningful portion of an executive officer’s compensation in stock based awards, an executive’s incentives are aligned with stockholder interests in a manner that drives better performance over time. The primary long term incentives for our NEOs have been Match Group stock options and restricted stock unit (“RSU”) awards.

In setting particular award levels, the predominant objectives have been providing the executive with effective retention incentives and incentives for strong future performance. Appropriate levels to meet these goals may vary from year to year, and from executive to executive, based on a variety of factors.

The annual corporate performance factors relevant to setting bonus amounts that were discussed above, while taken into account, have generally been less relevant in setting annual equity awards, as the awards tend to be more forward looking, and are a longer-term retention and reward instrument than annual bonuses.

All equity awards have been approved by the Committee, other than the IAC equity awards granted to Mses. Ginsberg and Dubey and Mr. Swidler in 2016, which were approved by the IAC Compensation and Human Resources Committee. When granting Match Group equity awards, the Committee has taken into account historical practices, the Committee’s view of market compensation generally, the dilutive impact of equity grants and desired short and long-term dilution levels, a given executive’s existing equity holdings and their retention and incentive value, and other relevant factors. When considering equity compensation for Ms. Ginsberg, in her role as the Company’s Chief Executive Officer, the Committee also considered the input of representatives of the Company’s majority stockholder.

Except where otherwise noted, equity awards have been made following year-end after finalization of financial results for the prior year. Committee meetings at which the awards are made are generally scheduled well in advance and without regard to the timing of the release of earnings or other material information.

2018 Awards. In February 2018, as part of the Company’s annual year-end compensation review, the Committee granted RSU awards to Ms. Dubey and Mr. Sine with dollar values of $4,000,000 and $1,000,000, respectively. The RSUs vest in one lump sum installment on the third anniversary of the grant date. Also in February 2018, the Committee granted 100,000 stock options to Mr. Swidler. The options vest in one lump sum installment on the third anniversary of the grant date, and have an exercise price equal to the closing price of the Company’s common stock on the grant date. The Committee considered Ms. Ginsberg’s outstanding equity awards, including the grant made to her in September 2017 in connection with her appointment as the Company’s Chief Executive Officer, and elected not to make an additional award to Ms. Ginsberg in

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February 2018. In addition, in August 2018, in recognition of her expanded role as President of the Company, the Committee granted an RSU award to Ms. Dubey with a dollar value of $8,000,000. The RSUs vest in two equal installments on each of February 6, 2022 and 2023.

As required by the Company’s 2015 Stock and Annual Incentive Plan (the “2015 Plan”) and the Company’s 2017 Stock and Annual Incentive Plan (the “2017 Plan”), Match Group stock options and RSUs outstanding on December 4, 2018, including the stock options and RSUs granted to our executive officers in 2018, were adjusted in connection with the special cash dividend paid by the Company on December 19, 2018 (the “December 2018 Dividend Adjustments”). Stock options were adjusted by dividing the exercise price, and multiplying the number of options, by an adjustment factor of 1.05068. RSUs were adjusted by multiplying the number of RSUs by the same adjustment factor. The December 2018 Dividend Adjustments maintained the value of the awards, placing the recipients in a neutral position following the payment of the dividend.

2019 Awards. In February 2019, as part of the Company’s annual year-end compensation review, the Committee granted RSU awards to Messrs. Swidler and Sine with dollar values of $3,000,000 and $1,500,000, respectively. The RSU award granted to Mr. Swidler vests in two equal installments on the second and third anniversaries of the grant date. The RSU award granted to Mr. Sine vests in a single installment on the third anniversary of the grant date. The Committee considered each of Mses. Ginsberg’s and Dubey’s outstanding awards, including the awards previously granted in consideration of their new roles in 2017 and 2018, respectively, and elected not to grant additional awards to either executive in February 2019.

2018 Employment Agreements

The Company entered into an employment agreement with Ms. Ginsberg on July 20, 2018, and with each of Ms. Dubey and Messrs. Swidler and Sine on August 8, 2018. Ms. Ginsberg’s employment agreement was made effective December 5, 2017, the effective date of her appointment as the Company’s Chief Executive Officer, and each of Ms. Dubey’s and Messrs. Swidler’s and Sine’s employment agreements was made effective August 8, 2018, the date of execution. Each of Mses. Ginsberg’s and Dubey’s employment agreement has an initial term of two years from its effective date, and each of Messrs. Swidler’s and Sine’s employment agreements has an initial term of one year from its effective date. Each of the employment agreements provides for automatic renewals of successive one-year terms absent written notice from the Company or the respective executive 90 days prior the expiration of the then current term.

Each employment agreement provides that the respective executive will be eligible to receive an annual base salary (currently $750,000 for Ms. Ginsberg, $625,000 for Ms. Dubey, $600,000 for Mr. Swidler, and $400,000 for Mr. Sine) and discretionary cash bonuses.

As described in more detail under Estimated Potential Payments Upon Termination or Change in Control on page 24, each employment agreement also provides for continued base salary payments, the acceleration of the vesting of equity awards, continued health coverage, and/or extended post-termination exercise periods for stock options upon certain terminations of employment.

In addition, pursuant to the respective employment agreement, each named executive is bound by a covenant not to compete with Match Group during the term of the executive’s employment and for 12 months thereafter, and by covenants not to solicit Match Group’s employees or business partners during the term of the executive’s employment and for 12 months thereafter. Each named executive has also agreed not to use or disclose any confidential information of Match Group or its affiliates and to be bound by customary covenants relating to proprietary rights and the related assignment of such rights.

Change of Control

Match Group believes that providing executives with change of control protection is sometimes important to allowing executives to fully value the forward looking elements of their compensation packages, and therefore limit retention risk during uncertain times. The terms of equity awards granted to senior executives generally include a so-called “double-trigger” change of control provision, as provided for under the 2015 Plan and the 2017 Plan, which provides for the acceleration of the vesting of outstanding equity awards in connection with a change of control, but only when the executive suffers an involuntary termination of employment during the two-year period following such change of control. The Committee believes that providing for the acceleration of the vesting of equity awards after an involuntary termination in these circumstances will assist in the retention of our executives through a change of control transaction.

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Severance

We generally provide executive officers with some amount of salary and health benefits continuation and the acceleration of the vesting of some equity awards in the event of an involuntary termination of employment. The Company generally does not provide for the acceleration of the vesting of equity awards in the event an executive officer voluntarily resigns from the Company.

Other Compensation

Under limited circumstances, certain Match Group executive officers have received non-cash and non-equity compensatory benefits. The value of these benefits, as and if applicable, is reported under the “Other Annual Compensation” column of the Summary Compensation Table on page 20 of this proxy statement pursuant to applicable rules. Match Group executive officers do not participate in any deferred compensation or retirement program other than IAC’s 401(k) plan.

Tax Deductibility

Section 162(m) of the Internal Revenue Code places a one million dollar limit on the amount of compensation that we may deduct for tax purposes for any year with respect to the executive who serves as our Chief Executive Officer at year-end, and any of our three other most highly compensated employees who serve as executive officers at year-end. For compensation paid prior to 2018 and certain “grandfathered” arrangements in place prior to November 2, 2017, the statute exempted qualifying performance-based compensation from the one million dollar limit if specified requirements were met. However, the performance-based compensation exception under Section 162(m) was repealed by tax reform legislation signed into law on December 22, 2017 for taxable years beginning after December 31, 2017, such that compensation paid to our executive officers in excess of one million dollars will not be deductible unless it qualifies for transition relief applicable to compensation arrangements in place as of November 2, 2017. The Committee has historically structured executive compensation to preserve its deductibility under Section 162(m) to the extent practical. The Committee continues to reserve the right, however, to grant or approve compensation or awards that may not be deductible, or to modify compensation initially intended to be deductible, when it believes such compensation, awards or modifications are in the best interests of the Company or are necessary to assure competitive total compensation for our executive officers.

COMPENSATION COMMITTEE REPORT

The Compensation and Human Resources Committee has reviewed the Compensation Discussion and Analysis and discussed it with Company management. In reliance on its review and the discussions referred to above, the Compensation and Human Resources Committee recommended to the Board that the Compensation Discussion and Analysis be included in Match Group’s 2018 Annual Report on Form 10-K and this proxy statement.

Members of the Compensation and Human Resources Committee

Ann L. McDaniel (Chairperson) Pamela S. Seymon

COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION

The membership of the Compensation and Human Resources Committee during 2018 consisted of Sonali De Rycker (who resigned from the Board in February 2018) and Mses. McDaniel (Chairperson) and Seymon. None of them has been an officer or employee of Match Group or IAC at any time during their respective service on the committee.

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EXECUTIVE COMPENSATION

Overview

This Executive Compensation section of this proxy statement sets forth certain information regarding total compensation earned by our named executives for the years 2016, 2017 and 2018, as well as Match Group awards made to our named executives in 2018, Match Group and IAC equity awards held by our named executives on December 31, 2018, and the dollar value realized by our named executives upon the vesting and exercise of Match Group equity awards during 2018. Unless otherwise indicated, stock and option awards in the table below are denominated in shares of Match Group.

Summary Compensation Table

Stock Option All Other Name and Principal Salary Bonus Awards Awards Compensation Total

Position Year ($) ($) ($)(1) ($)(2) ($)(3) ($) Amanda Ginsberg 2018 $ 750,000 $ 1,750,000 — — $ 8,250 $ 2,508,250

Chief Executive Officer 2017 $ 517,808 $ 750,000 $ 4,109,000 $ 6,280,570(4) $ 23,650 $ 11,681,028

(since December 2017)

Gary Swidler 2018 $ 550,000 $ 1,500,000 — $ 1,599,200(5) $ 8,250 $ 3,657,450

Chief Financial Officer 2017 $ 550,000 $ 1,300,000 $ 3,132,500 $ 610,288(4) $ 23,650 $ 5,616,438

2016 $ 550,000 $ 1,100,000 — $ 80,100(6) $ 7,308 $ 1,737,408

Sharmistha Dubey 2018 $ 550,000 $ 1,500,000 $ 11,999,986 — $ 8,250 $ 14,058,236

President

(since January 2018)

Jared F. Sine 2018 $ 350,000 $ 500,000 $ 999,997 — $ 8,250 $ 1,858,247

Chief Legal Officer and Secretary 2017 $ 350,000 $ 425,000 $ 895,000 $ 488,230(4) $ 29,299 $ 2,187,529

(since July 2016) 2016 $ 167,000 $ 225,000 $ 149,990 $ 952,500(6) $ 16,600 $ 1,511,090

(1) Reflects the grant date fair value of Match Group RSU awards, calculated by multiplying the number of RSUs awarded by the fair market value per share of Match Group common stock on the grant date.

(2) These amounts represent the grant date fair value of awards granted in the year indicated, computed in accordance with FASB ASC Topic 718, Compensation — Stock Compensation , excluding the effect of estimated forfeitures. Match Group stock options granted in 2018, 2017 and 2016 consist of stock options with vesting tied solely to continued employment (“Match Group Standard Awards”). Match Group Standard Awards were valued using the Black-Scholes option pricing model.

IAC stock options granted in December 2016 had vesting tied solely to continued employment and were valued using the Black-Scholes option pricing model.

See footnotes 4 through 6 below for details regarding which type of stock option awards were granted to each of our named executives in each relevant year.

For additional details regarding Match Group stock option awards granted in 2018, including the assumptions used to calculate the grant date fair values for such awards, see footnote 4 to the Grants of Plan-Based Awards in 2018 table on page 21.

(3) Other compensation reflects 401(k) matching contributions made by the Company for all named executives in all relevant periods and, in the case of (i) Ms. Ginsberg and Messrs. Swidler and Thombre, in 2017, also reflects $15,550 for a perquisite given to attendees of IAC planning meetings and (ii) Mr. Sine, in 2017 and 2016, also reflects $12,306 and $9,548, respectively, paid to Mr. Sine for certain costs related to the relocation of him and his family to the Dallas, Texas metropolitan area and $8,893 and $4,629, respectively, in related tax reimbursements on income imputed to Mr. Sine for these costs.

(4) Reflects the grant date fair value of two Match Group Standard Awards for Ms. Ginsberg and one Match Group Standard Award for each of Messrs. Swidler and Sine.

(5) Reflects the grant date fair value of one Match Group Standard Award.

(6) For Mr. Swidler, reflects the grant date fair value of an IAC stock option award. For Mr. Sine, reflects the grant date fair value of a Match Group Standard Award.

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Grants of Plan-Based Awards in 2018

The table below provides information regarding all Match Group stock options and RSUs granted to our named executives in 2018.

All Other Option All Other Awards: Exercise Stock Awards: Number of or Base Grant Date Number of Securities Price of Fair Value Shares Underlying Option of Stock Grant of Stock or Options Awards and Option

Name Date Units (#)(1) (#)(1) ($/Sh)(1) Awards ($) Amanda Ginsberg — — — — —

Gary Swidler 2/22/18 — 100,000(2) $ 40.96(3) $ 1,599,200(4)

Sharmistha Dubey 2/22/18 97,656(5) — — $ 3,999,990(6)

8/6/18 208,279(7) — — $ 7,999,996(6)

Jared F. Sine 2/22/18 24,414(5) — — $ 999,997(6)

(1) The number of RSUs, and the number and exercise price of stock options, do not reflect the December 2018 Dividend Adjustments.

(2) This Match Group Standard Award vests in a single installment on the third anniversary of the grant date, subject to continued service.

(3) The exercise price is equal to the closing market price of Match Group common stock on the grant date.

(4) Reflects the grant date fair value of this Match Group Standard Award determined using the Black-Scholes option pricing model. The Black-Scholes option pricing model incorporates various assumptions, including expected volatility (based on a blend of Match Group’s historical volatility and IAC’s historical volatility), risk-free interest rates (based on U.S. Treasury yields for notes with terms comparable to those of the stock options, in effect at the grant date), expected term (based on the historical exercise pattern of Match Group employees for comparable awards and a ten year contractual life) and no dividends.

The assumptions used to calculate the amount in the table above for the Match Group Standard Award granted to Mr. Swidler in February 2018 are as follows: expected volatility (34.16%), risk-free interest rate (2.77%) and expected term (6.29 years).

(5) These RSUs vest in a single installment on the third anniversary of the grant date, subject to continued service.

(6) Reflects the dollar value of RSU awards, calculated by multiplying the number of RSUs by the closing market price of Match Group common stock on the grant date.

(7) These RSUs vest in two equal installments on each of February 6, 2022 and 2023, subject to continued service.

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Outstanding Equity Awards at 2018 Fiscal Year-End

The table below provides information regarding Match Group stock options and RSUs and IAC stock options, as applicable, held by our named executives on December 31, 2018. The market value of Match Group RSU awards is based on the closing market price of Match Group common stock ($42.77) on December 31, 2018.

Option Awards(1) Stock Awards(1)(2) Number of Number of Number of Market value securities securities shares or of shares or underlying underlying Option units of units of stock unexercised unexercised exercise Option stock that have options options price expiration that have not vested

Name (#) (#) ($) date not vested ($)

(Exercisable) (Unexercisable)

Amanda Ginsberg

Match Group stock options 136,711 136,713(3) $ 14.6952 9/17/25 — —

Match Group stock options 45,528 45,531(4) $ 13.2295 12/21/25 — —

Match Group stock options 65,667 65,668(5) $ 13.2295 12/21/25 — —

Match Group stock options — 118,201(6) $ 17.0366 2/9/27 — —

Match Group stock options 223,270 669,811(7) $ 22.0714 9/29/27 — —

Match Group RSUs — — — — 245,160 $ 10,485,493

IAC stock options — 5,000(8) $ 65.22 12/1/26 — —

Gary Swidler

Match Group stock options 380,881 326,591(9) $ 14.6952 9/17/25 — —

Match Group stock options 32,833 98,502(6) $ 17.0366 2/9/27 — —

Match Group stock options — 105,068(10) $ 38.9842 2/22/28 — —

Match Group RSUs — — — — 122,580 $ 5,242,747

IAC stock options — 5,000(8) $ 65.22 12/1/26 — —

Sharmistha Dubey

Match Group stock options 102,718 102,535(3) $ 14.6592 9/17/25 — —

Match Group stock options 65,667 65,668(11) $ 13.2295 12/21/25 — —

Match Group stock options — 137,902(6) $ 17.0366 2/9/27 — —

Match Group RSUs — — — — 444,020 $ 18,990,735

IAC stock options — 5,000(8) $ 65.22 12/1/26 — —

Jared F. Sine

Match Group stock options — 131,335(12) $ 14.2669 7/5/26 — —

Match Group stock options — 78,801(6) $ 17.0366 2/9/27 — —

Match Group RSUs — — — — 81,689 $ 3,493,839

(1) For information on the treatment of Match Group stock options and RSUs and IAC stock options upon a termination of employment (including certain terminations during specified periods following a change in control of Match Group and/or IAC), see the discussion under Estimated Potential Payments Upon Termination or Change in Control beginning on page 24. The number of RSUs, and the number and exercise price of Match Group stock options, reflect the December 2018 Dividend Adjustments.

(2) The table below provides the following information regarding Match Group RSUs held by each of our named executives on December 31, 2018: (i) the grant date of each award, (ii) the number of RSUs outstanding on December 31, 2018, (iii) the market value of RSUs outstanding on December 31, 2018 and (iv) the vesting schedule for each award.

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Market Number of Value of Unvested Unvested RSUs as RSUs as

of 12/31/18 of 12/31/18 Vesting Schedule (#)

Name and Grant Date (#) ($) 2019 2020 2021 2022 2023

Amanda Ginsberg

12/21/15 35,024 $ 1,497,976 35,024 — — — —

2/9/17 105,068 $ 4,493,758 52,534 52,534 — — —

9/29/17 105,068 $ 4,493,758 — 52,534 — 52,534 —

Gary Swidler

2/9/17 122,580 $ 5,242,747 61,289 61,291 — — —

Sharmistha Dubey

2/9/17 122,580 $ 5,242,747 61,289 61,291 — — —

2/22/18 102,605 $ 4,388,416 — — 102,605 — —

8/6/18 218,835 $ 9,359,573 — — — 109,416 109,419

Jared F. Sine

7/5/16 3,504 $ 149,866 3,504 — — — —

2/9/17 52,534 $ 2,246,879 26,267 26,267 — — —

2/22/18 25,651 $ 1,097,093 — — 25,651 — —

(3) This Match Group Standard Award vested/vests in four equal installments on each of December 31, 2016, 2017, 2018 and 2019, subject to continued service.

(4) This Match Group Standard Award vested/vests in three equal installments on each of December 21, 2017, 2018 and 2019, subject to continued service.

(5) This Match Group Standard Award vested/vests in four equal installments on each of December 21, 2016, 2017, 2018 and 2019, subject to continued service.

(6) This Match Group Standard Award vested/vests in four equal installments on each of February 9, 2018, 2019, 2020 and 2021, subject to continued service.

(7) This Match Group Standard Award vested/vests in four equal installments on each of September 29, 2018, 2019, 2020 and 2021, subject to continued service.

(8) These IAC stock options vest a single installment on December 1, 2020, subject to continued employment.

(9) This Match Group Standard Award vested/vests in four equal installments on each of September 8, 2016, 2017, 2018 and 2019, subject to continued service.

(10) This Match Group Standard Award vests in a single installment on February 22, 2021, subject to continued service.

(11) This Match Group Standard Award vested/vests in two equal installments on each of December 21, 2018 and 2019, subject to continued service.

(12) This Match Group Standard Award vested/vests in four equal installments on each of July 5, 2017, 2018, 2019 and 2020, subject to continued service.

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2018 Option Exercises and Stock Vested

The table below provides information regarding the number of shares acquired by our named executives upon the exercise of Match Group stock options and the vesting of Match Group RSUs in 2018 and the related value realized, excluding the effect of any applicable taxes. During 2018, our named executives exercised stock options through a net settlement process, whereby shares of Match Group common stock were withheld by the Company to cover exercise price and tax obligations; the shares acquired on exercise in the table below are on a gross basis and do not reflect any such withholding.

Number of Value Number of Value Shares Realized Shares Realized Acquired on on Acquired on on Exercise Exercise Vesting Vesting

Name (#) ($) (#) ($) Amanda Ginsberg 273,451 $ 9,392,731 35,021 $ 1,402,591

Gary Swidler 570,000 $ 17,337,600 34,544 $ 1,792,488

Sharmistha Dubey 223,750 $ 5,117,325 95,106 $ 3,432,747

Jared F. Sine 87,500 $ 2,607,875 3,335 $ 128,698

Estimated Potential Payments Upon Termination or Change in Control

Certain of our employment agreements, equity award agreements and/or omnibus stock and annual incentive plans entitle our named executives to continued base salary payments, continued health coverage, the acceleration of the vesting of equity awards, and/or extended post-termination exercise periods for stock options upon certain terminations of employment (including certain terminations during specified periods following a change in control of Match Group or IAC).

Amounts and Benefits Payable Upon a Qualifying Termination

Upon a termination of the named executive’s employment by the Company without cause (and other than by reason of death or disability) or a named executive’s resignation for good reason (a “Qualifying Termination”), pursuant to the terms of such named executive’s employment agreement and subject to the execution and non-revocation of a release and compliance with customary post-termination covenants as further described below, each of Ms. Ginsberg and Messrs. Swidler and Sine is entitled to:

· salary continuation for 12 months from the date of such Qualifying Termination, subject to offset for any amounts earned from other employment;

· acceleration of the vesting of the portion of any outstanding and unvested Match Group equity awards that would have vested through the first anniversary of the date of such Qualifying Termination;

· continued coverage under the Company’s group health plan or monthly payments necessary to cover the full premiums for continued coverage under the Company’s plan through COBRA, which payments will be grossed up for applicable taxes, for 12 months following the date of such Qualifying Termination (but ceasing once equivalent employer-paid coverage is otherwise available to the named executive); and

· continued exercisability of the named executive’s vested Match Group stock options for 18 months in the case of Ms. Ginsberg, and six months in the case of each other named executive, following the date of such Qualifying Termination.

Upon a Qualifying Termination, pursuant to the terms of her employment agreement and subject to the execution and non-revocation of a release and compliance with customary post-termination covenants as further described below, Ms. Dubey is entitled to the same payments and benefits described above with respect to the other named executives, except that the period applicable to each of the salary continuation and health coverage benefits is from the date of such Qualifying Termination through the later of (i) the expiration of the then current term of the agreement (the agreement provides for an initial term through August 8, 2020, and for automatically renewed successive one-year terms thereafter) and (ii) 12 months.

Pursuant to the respective employment agreement, each named executive is bound by a covenant not to compete with Match Group during the term of the executive’s employment and for 12 months thereafter, and by covenants not to solicit Match Group’s employees or business partners during the term of the executive’s employment and for 12 months

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RLP 312 Table of Contents thereafter. Each named executive has also agreed not to use or disclose any confidential information of Match Group or its affiliates and to be bound by customary covenants relating to proprietary rights and the related assignment of such rights.

In addition, in the case of Mr. Swidler, pursuant to the equity award agreement governing his outstanding and unvested Match Group stock options granted to him in September 2015, upon a Qualifying Termination, Mr. Swidler is entitled to the partial vesting of such award in an amount equal to the number that would have otherwise vested in accordance with the terms of such award during the 12-month period following such termination of employment.

Amounts and Benefits Payable Upon Termination Due to Disability or Death

Upon a termination of a named executive’s employment due to disability, pursuant to the terms of each named executive’s employment agreement, such named executive will be entitled to a payment of base salary through the end of the month in which such termination occurs, offset by any amounts payable under any disability insurance plan provided by the Company. Upon a termination of a named executive’s employment due to death, pursuant to the terms of each named executive’s employment agreement, (i) the Company will pay such named executive’s designated beneficiaries his or her base salary through the end of the month in which such termination occurs, and (ii) the portion of any outstanding and unvested Match Group equity awards that would have vested through the first anniversary of the date of such termination would vest. Upon a termination of a named executive’s employment due to disability or death, pursuant to the terms of each named executive’s employment agreement, all vested Match Group stock options will remain exercisable for a period of 18 months in the case of Ms. Ginsberg, and six months in the case of each other named executive, following such termination date.

Amounts and Benefits Payable Upon a Change in Control

No payments would have been made to any named executive pursuant to any agreement between the Company and any of these named executives upon a change in control of Match Group on December 31, 2018. Upon a Qualifying Termination on December 31, 2018 that occurred during the two-year period following a change in control of Match Group, each named executive officer would have received the amounts set forth above under “Amounts and Benefits Pyabale Upon a Qualifying Termination,” except that, in accordance with the 2015 Plan and the 2017 Plan, the vesting of all then outstanding and unvested Match Group stock options and/or Match Group RSUs, as applicable, held by each named executive would have been accelerated.

No payments would have been made to any named executive pursuant to any agreement between IAC and the named executives upon a change in control of Match Group or IAC on December 31, 2018. Upon a Qualifying Termination on December 31, 2018 that occurred during the two-year period following a change in control of IAC, each named executive officer would have received the amounts set forth above under “Amounts and Benefits Pyabale Upon a Qualifying Termination,” and, in accordance with the applicable IAC omnibus stock and annual incentive plan, the vesting of all then outstanding and unvested IAC stock options held by a named executive would have been accelerated.

Potential Payments Upon Termination or Change in Control Table

Certain amounts that would become payable to our named executives upon the events described above (as and if applicable), assuming the relevant event occurred on December 31, 2018, are described and quantified in the table below. These amounts, which, with the exception of the gross-up relating to COBRA benefits, exclude the effect of any applicable taxes, are based on the named executive’s base salary, the number of Match Group stock options and/or RSUs and IAC stock options, as applicable, outstanding, and the closing price of Match Group common stock ($42.77) and IAC common stock ($183.04), on December 31, 2018. These amounts also exclude any potential offset that may apply. In addition to these amounts, certain other amounts and benefits generally payable and made available to other Company employees upon a termination of employment, including payments for accrued vacation time and outplacement services, will generally be payable/provided to named executives.

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Qualifying Qualifying Termination Termination During the Two During the Two Year Period Year Period Following a Following a Change in Change in Qualifying Control of Control of

Name and Benefit Termination Match Group IAC Death Amanda Ginsberg

Continued salary $ 750,000 $ 750,000 $ 750,000 —

Continued health coverage(1) $ 57,074 $ 57,074 $ 57,074 —

Market value of Match Group options that would vest(2) $ 12,758,337 $ 24,028,928 $ 12,758,337 $ 12,758,337

Market value of Match Group RSUs that would vest(3) $ 3,744,856 $ 10,485,493 $ 3,744,856 $ 3,744,856

Market value of IAC options that would vest(4) — — $ 589,100 —

Total estimated incremental value $ 17,310,266 $ 35,321,494 $ 17,899,366 $ 16,503,192

Gary Swidler

Continued salary $ 550,000 $ 550,000 $ 550,000 —

Continued health coverage(1) $ 65,301 $ 65,031 $ 65,301 —

Market value of Match Group options that would vest(2) $ 10,013,907 $ 12,101,535 $ 10,013,907 $ 10,013,907

Market value of Match Group RSUs that would vest(3) $ 2,621,331 $ 5,242,747 $ 2,621,331 $ 2,621,331

Market value of IAC options that would vest(4) — — $ 589,100 —

Total estimated incremental value $ 13,250,539 $ 17,959,583 $ 13,839,639 $ 12,635,238

Sharmistha Dubey

Continued salary $ 1,000,000 $ 1,000,000 $ 1,000,000 —

Continued health coverage(1) $ 95,123 $ 95,123 $ 95,123 —

Market value of Match Group options that would vest(2) $ 6,005,094 $ 8,370,894 $ 6,005,094 $ 6,005,094

Market value of Match Group RSUs that would vest(3) $ 2,621,331 $ 18,990,735 $ 2,621,331 $ 2,621,331

Market value of IAC options that would vest(4) — — $ 589,100 —

Total estimated incremental value $ 9,721,547 $ 28,456,752 $ 10,310,647 $ 8,626,424

Jared F. Sine

Continued salary $ 350,000 $ 350,000 $ 350,000 —

Continued health coverage(1) $ 57,074 $ 57,074 $ 57,074 —

Market value of Match Group options that would vest(2) $ 2,547,652 $ 5,771,272 $ 2,547,652 $ 2,547,652

Market value of Match Group RSUs that would vest(3) $ 1,273,306 $ 3,493,839 $ 1,273,306 $ 1,273,306

Total estimated incremental value $ 4,228,032 $ 9,672,185 $ 4,228,032 $ 3,820,958

(1) Represents the total payments necessary to cover the full premiums for continued coverage under the Company’s medical and dental plans through COBRA for 12 months (except for Ms. Dubey for whom the payments are assumed to continue through August 8, 2020), grossed up for applicable taxes. For Mses. Ginsberg and Dubey and Mr. Sine, the COBRA rates reflect the named executive’s coverage level elections as of December 31, 2018. Mr. Swidler had not elected to participate in Company healthcare coverage as of December 31, 2018, therefore the amount indicated represents the COBRA rates that would apply if he had elected the highest levels of coverage as of such date.

(2) Represents the difference between the closing price of Match Group common stock ($42.77) on December 31, 2018 and the exercise prices of in-the-money Match Group stock options accelerated upon the occurrence of the relevant event specified above, multiplied by the number of Match Group stock options so accelerated.

(3) Represents the closing price of Match Group common stock ($42.77) on December 31, 2018, multiplied by the number of RSUs accelerated upon the occurrence of the relevant event.

(4) Represents the difference between the closing price of IAC common stock ($183.04) on December 31, 2018 and the exercise price of in-the-money IAC stock options accelerated upon the occurrence of the relevant event specified above, multiplied by the number of IAC stock options so accelerated.

CEO Pay Ratio

In accordance with Item 402(u) under Regulation S-K of the Securities Act of 1933, as amended (the “Securities Act”), we are required to disclose the ratio of our median employee’s annual total compensation to the annual total

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RLP 314 Table of Contents compensation of our Chief Executive Officer, Amanda Ginsberg. The pay ratio disclosure set forth below is a reasonable estimate calculated in a manner consistent with applicable SEC rules.

For the fiscal year ended December 31, 2018: (i) the estimated median of the annual total compensation of all Match Group employees (other than Ms. Ginsberg) was approximately $86,063, (ii) Ms. Ginsberg’s annual total compensation, as reported in the Summary Compensation Table on page 20, was $2,508,250, and (iii) the ratio of annual total compensation of Ms. Ginsberg to the median of the annual total compensation of our other employees was 29 to 1.

In making the determinations above, we first identified our total number of employees as of December 31, 2018 (1,512 in total, 833 of which were located in the United States and 679 of which were collectively located in various jurisdictions outside of the United States). We then excluded employees located in the following jurisdictions outside of the United States, which together comprise less than 5% of our total employees: China (1 employee), India (6 employees), Ireland (3 employees), Italy (2 employees), Korea (3 employees), Spain (1 employee), Sweden (3 employees) and the United Kingdom (18 employees). After excluding employees in these jurisdictions, our pay ratio calculation included 1,475 of our total 1,512 employees. We changed our determination date this year to December 31 (from November 1), in order to align with the period used for calculating annual total compensation, as discussed below.

To identify our median employee from this employee population, as permitted by SEC rules, we selected base pay in 2018 as our consistently applied compensation measure, which we then compared across the applicable employee population. We annualized the compensation of permanent employees who were hired in 2018 but did not work for us for the entire year. After we identified the median employee, we determined such employee’s annual total compensation in the same manner as we determined Ms. Ginsberg’s annual total compensation disclosed in the Summary Compensation Table on page 20.

Equity Compensation Plan Information

Securities Authorized for Issuance Under Equity Compensation Plans. The following table summarizes information, as of December 31, 2018, regarding Match Group equity compensation plans pursuant to which grants of Match Group stock options, Match Group RSUs or other rights to acquire shares of Match Group common stock may be made from time to time.

Number of Securities Remaining Available for Future Issuance Number of Securities Weighted-Average Under Equity to be Issued upon Exercise Price of Compensation Plans Exercise of Outstanding (Excluding Outstanding Options, Securities Options, Warrants Warrants and Reflected and Rights Rights in Column (A))

Plan Category (A) (B) (C) Equity compensation plans approved by security holders(1) 26,989,277(2) $ 14.72 28,129,816

Equity compensation plans not approved by security holders — — —

Total 26,989,277(2) $ 14.72 28,129,816

(1) Consists of the 2015 Plan and the 2017 Plan. For a description of the 2015 Plan and the 2017 Plan, see the first two paragraphs of Note 11 to the consolidated and combined financial statements included in Item 8 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2018, which are incorporated herein by reference. The amounts in columns (A) and (B) reflect the December 2018 Dividend Adjustments. Similarly, as required by each of the 2015 Plan and 2017 Plan, the amount of shares available for issuance in column (C) also reflects equitable adjustments in connection with the special cash dividend paid by the Company on December 19, 2018.

(2) Includes an aggregate of: (i) up to 7,421,853 shares issuable upon the vesting of Match Group RSUs, which includes performance-based RSUs and reflects the maximum number of RSUs that would vest if the highest level of performance condition is achieved, and (ii) 19,567,424 shares issuable upon the exercise of outstanding Match Group stock options, in each case, as of December 31, 2018. The number in (ii) includes up to 572,620 performance-based stock options, which reflects the maximum number of stock options that would vest if the highest level of performance condition is achieved. Based on the Company’s assessment in the first quarter of 2019 of the conditions associated with the awards, 181,238 of these performance-based stock options were forfeited and canceled, and the underlying shares became once again available for grant under our equity compensation plans.

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RLP 315 Table of Contents

DIRECTOR COMPENSATION

Non-Employee Director Compensation Arrangements. The Board has primary responsibility for establishing non-employee director compensation arrangements, which have been designed to provide competitive compensation necessary to attract and retain high quality non-employee directors and to encourage ownership of our common stock to further align the interests of our directors with those of our stockholders. Arrangements in effect during 2018 provided that: (i) each member of the Board receive an annual retainer in the amount of $50,000, (ii) each member of the Audit and Compensation and Human Resources Committees (including their respective Chairpersons) receive an additional annual retainer in the amount of $10,000 and $5,000, respectively, and (iii) the Chairpersons of each of the Audit and Compensation and Human Resources Committees receive an additional annual Chairperson retainer in the amount of $20,000, with all amounts being paid quarterly, in arrears.

In addition, these arrangements also provide that each non-employee director receive a grant of Match Group RSUs with a dollar value of $250,000 upon his or her initial election to the Board and annually thereafter upon re-election on the date of Match Group’s annual meeting of stockholders, the terms of which provide for: (i) vesting in three equal annual installments commencing on the first anniversary of the grant date, (ii) cancellation and forfeiture of unvested RSUs in their entirety upon termination of Board service and (iii) full acceleration of vesting upon a change in control of Match Group. The Company also reimburses non-employee directors for all reasonable expenses incurred in connection with attendance at Match Group Board and Board committee meetings. For purposes of these compensation arrangements, non-employee directors are those directors who are not employed by (or otherwise providing services to) Match Group or IAC, and do not include Mr. Yagan, who has previously served as an executive officer of the Company.

2018 Non-Employee Director Compensation. The table below provides the amount of: (i) fees earned by non-employee directors for services performed during 2018 (excluding the effect of any applicable taxes) and (ii) the grant date fair value of Match Group RSU awards granted in 2018.

Fees Earned and Stock

Name Paid in Cash ($) Awards($)(1) Total($) Sonali De Rycker(2) $ 8,097 — $ 8,097

Ann L. McDaniel $ 75,000 $ 249,999 $ 324,999

Thomas J. McInerney $ 60,000 $ 249,999 $ 309,999

Pamela S. Seymon $ 65,000 $ 249,999 $ 314,999

Alan G. Spoon $ 80,000 $ 249,999 $ 329,999

(1) Reflects the grant date fair value of Match Group RSU awards, calculated by multiplying the closing market price of Match Group common stock on the grant date by the number of RSUs awarded.

(2) Ms. DeRycker resigned from the Board in February 2018.

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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table presents, as of April 22, 2019, information relating to the beneficial ownership of Match Group common stock and Class B common stock by: (1) each person known by Match Group to own beneficially more than 5% of the outstanding shares of Match Group common stock and/or Class B common stock, (2) each director nominee (all of which are incumbent directors), (3) each named executive and (4) all current directors and executive officers of Match Group as a group. As of April 22, 2019, there were 71,152,525 and 209,919,402 shares of Match Group common stock and Class B common stock, respectively, outstanding.

Unless otherwise indicated, the beneficial owners listed below may be contacted at Match Group’s corporate headquarters located at 8750 North Central Expressway, Suite 1400, Dallas, Texas 75231. For each listed person, the number of shares of Match Group common stock and percent of such class listed assumes the conversion or exercise of any Match Group equity securities owned by such person that are or will become convertible or exercisable, and the vesting of any Match Group stock options and/or Match Group RSUs that will vest, within 60 days of April 22, 2019, but does not assume the conversion, exercise or vesting of any such equity securities owned by any other person. Shares of Match Group Class B common stock may, at the option of the holder, be converted on a one-for-one basis into shares of Match Group common stock. The percentage of votes for all classes of capital stock is based on one vote for each share of Match Group common stock and ten votes for each share of Match Group Class B common stock.

Match Group Match Group Percent

Common Stock Class B Common Stock of Votes % of % of (All Name and Address of Beneficial Number of Class Number of Class Classes)

Owner Shares Owned Owned Shares Owned Owned % IAC/InterActiveCorp. 225,955,913(1) 80.4% 209,919,402 100% 97.5%

555 West 18 th Street

New York, NY 10011

Sands Capital Management, LLC 7,724,932(2) 10.9% — — *

1100 Wilson Blvd., Suite 3000

Arlington, VA 22209

The Vanguard Group 6,380,360(3) 9.0% — — *

100 Vanguard Blvd.

Malvern, PA 19355

JPMorgan Chase & Co. 7,030,856(4) 9.9% — — *

270 Park Avenue

New York, NY 10017

Sharmistha Dubey — — — — *

Amanda Ginsberg 585,649(5) * — — *

Joseph Levin 50,000(6) * — — *

Ann L. McDaniel 18,014(7) * — — *

Thomas J. McInerney 188,804(7) * — — *

Glenn H. Schiffman — — — — —

Pamela S. Seymon 48,804(7) * — — *

Jared F. Sine 21,025(6) * — — *

Alan G. Spoon 46,304(7) * — — *

Mark Stein 25,000(6) * — — *

Gary Swidler 148,135(8) * — — *

Gregg Winiarski 20,000(6) * — — *

Sam Yagan 1,025,825(9) 1.4% — — *

All current executive officers and directors

as a group (13 persons) 2,177,560(10) 3.0% — — *

* The percentage of shares beneficially owned does not exceed 1% of the class.

(1) Consists of: (i) 209,919,402 shares of Match Group Class B common stock (which are convertible on a one-for-one basis into shares of Match Group common stock) and (ii) 16,036,511 shares of Match Group common stock, all of which are held directly by IAC.

(2) Based upon information regarding Match Group holdings reported by way of a Schedule 13G filed by Sands Capital Management, LLC (“Sands Capital”) with the SEC on January 10, 2019. Sands Capital beneficially owns the Match

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Group holdings disclosed in the table above in its capacity as an investment adviser. Sands Capital has sole voting power and sole dispositive power over 5,373,466 and 7,724,932 shares of Match Group common stock, respectively, listed in the table above.

(3) Based upon information regarding Match Group holdings reported by way of Amendment No. 4 to a Schedule 13G filed by The Vanguard Group (“Vanguard”) with the SEC on February 11, 2019. Vanguard beneficially owns the Match Group holdings disclosed in the table above in its capacity as an investment adviser. Vanguard has sole voting power, sole dispositive power and shared dispositive power over 23,823, 6,356,537 and 23,823 shares of Match Group common stock, respectively, listed in the table above.

(4) Based upon information regarding Match Group holdings reported by way of Amendment No. 4 to a Schedule 13G filed by JPMorgan Chase & Co. on behalf of itself (as a parent holding company or control person) and its subsidiaries (J.P. Morgan Investment Management Inc., JPMorgan Chase Bank, National Association, JPMorgan Asset Management (UK) Limited, J.P. Morgan Trust Company of Delaware and J.P. Morgan Securities LLC) that own such securities with the SEC on January 25, 2019. J.P. Morgan has sole voting power, sole dispositive power and shared dispositive power over 6,950,189, 7,029,768 and 1,088 shares of Match Group common stock, respectively, listed in the table above.

(5) Consists of shares of Match Group common stock and 510,576 vested options to purchase Match Group common stock held directly by Ms. Ginsberg.

(6) Consists of shares of Match Group common stock held directly by each individual.

(7) Consists of shares of Match Group common stock held directly by each individual and 6,607 shares of Match Group common stock to be received upon the vesting of Match Group RSUs in the next 60 days, subject to continued service.

(8) Consists of shares of Match Group common stock and 33,548 vested options to purchase Match Group common stock held directly by Mr. Swidler.

(9) Consists of shares of vested options to purchase Match Group common stock held directly by Mr. Yagan.

(10) Consists of shares of Match Group common stock, 1,569,949 vested options to purchase Match Group common stock, and 26,428 shares of Match Group common stock to be received upon the vesting of Match Group RSUs in the next 60 days, in each case held directly by each individual.

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SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16(a) of the Exchange Act requires the Company’s directors and certain of the Company’s officers, and persons who beneficially own more than 10% of a registered class of the Company’s equity securities, to file initial statements of beneficial ownership (Form 3) and statements of changes in beneficial ownership (Forms 4 and 5) of common stock and other equity securities of the Company with the SEC. Officers, directors and greater than 10% beneficial owners are required by SEC rules to furnish the Company with copies of all such forms they file. Based solely on a review of the copies of such forms furnished to the Company and/or written representations that no additional forms were required, the Company believes that its officers, directors and greater than 10% beneficial owners complied with these filing requirements in 2018, except that each of Gregory Blatt and Mr. Sine filed one late report disclosing one transaction.

CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS

Review of Related Person Transactions

The Audit Committee has a formal, written policy that requires an appropriate review of all related person transactions by the Audit Committee, as required by Marketplace Rules governing conflict of interest transactions. For purposes of this policy, consistent with the Marketplace Rules, the terms “related person” and “transaction” are determined by reference to Item 404(a) of Regulation S-K under the Securities Act (“Item 404”). During 2018, in accordance with this policy, Company management was required to determine whether any proposed transaction, arrangement or relationship with a related person fell within the definition of “transaction” set forth in Item 404, and if so, review such transaction with the Audit Committee. In connection with such determinations, Company management and the Audit Committee consider: (i) the parties to the transaction and the nature of their affiliation with Match Group and the related person, (ii) the dollar amount involved in the transaction, (iii) the material terms of the transaction, including whether the terms of the transaction are ordinary course and/or otherwise negotiated at arms’ length, (iv) whether the transaction is material, on a quantitative and/or qualitative basis, to Match Group and/or the related person, and (v) any other facts and circumstances that Company management or the Audit Committee deems appropriate.

Relationships Involving Significant Stockholders

In connection with our initial public offering in November 2015, we entered into the following agreements relating to our relationship with IAC following the offering: a master transaction agreement, an investor rights agreement, a tax sharing agreement, a services agreement, an employee matters agreement and a subordinated loan agreement.

Master Transaction Agreement. The master transaction agreement sets forth the agreements between us and IAC regarding the principal transactions necessary to separate our business from IAC, as well as govern certain aspects of our relationship with IAC following the offering. Under the master transaction agreement, we agreed to assume all of the assets and liabilities related to our business and agreed to indemnify IAC against any losses arising out of any breach by us of the master transaction agreement or any of the other transaction related agreements described below. IAC also agreed to indemnify us against losses arising out of any breach by IAC of the master transaction agreement or any of the other transaction related agreements.

Investor Rights Agreement. Under the investor rights agreement, we agreed to provide IAC with: (i) specified registration and other rights relating to shares of our common stock held by IAC and (ii) anti-dilution rights.

Tax Sharing Agreement. The tax sharing agreement governs our and IAC’s rights, responsibilities, and obligations with respect to tax liabilities and benefits, entitlements to refunds, preparation of tax returns, tax contests and other tax matters regarding U.S. federal, state, local and foreign income taxes. Under the tax sharing agreement, we are generally responsible and required to indemnify IAC for: (i) all taxes imposed with respect to any consolidated, combined or unitary tax return of IAC or one of its subsidiaries that includes us or any of our subsidiaries to the extent attributable to us or any of our subsidiaries, as determined under the tax sharing agreement, and (ii) all taxes imposed with respect to any of our subsidiaries’ consolidated, combined, unitary or separate tax returns. There were no outstanding receivables or payables pursuant to the tax sharing agreement as of December 31, 2018.

Services Agreement. The services agreement governs services that IAC agreed to provide to us following the offering, including, among others: (i) assistance with certain legal, finance, internal audit, treasury, information technology support, insurance and tax matters, including assistance with certain public company reporting obligations; (ii) payroll processing services; (iii) tax compliance services; and (iv) such other services as to which we and IAC may agree. In 2018, we paid IAC approximately $7.6 million for services rendered pursuant to this agreement, which amount includes amounts paid for the leasing of office space for certain of our businesses at properties owned by IAC. The services agreement had an initial term of one year from the date of the offering, and provides for automatic renewals for additional one year terms, subject to IAC’s continued ownership of a majority of the combined voting power of our voting stock.

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Employee Matters Agreement. The employee matters agreement covers a wide range of compensation and benefit issues related to the allocation of liabilities associated with: (i) employment or termination of employment, (ii) employee benefit plans and (iii) equity awards. Under the employee matters agreement, our employees continue to participate in IAC’s U.S. health and welfare, 401(k) and flexible benefits plans and we pay for the costs of such participation. In the event IAC no longer retains shares representing at least 80% of the aggregate voting power of shares entitled to vote in the election of our Board of Directors, we will no longer participate in IAC’s employee benefit plans, but will establish our own employee benefit plans that will be substantially similar to the plans sponsored by IAC.

The employee matters agreement also provides that we will reimburse IAC for the cost of any IAC equity awards held by Match Group employees and former employees and that IAC may elect to receive payment either in cash or shares of our common stock. With respect to equity awards originally denominated in shares of our subsidiaries, IAC may require those awards to be settled in either shares of IAC common stock or our common stock and, to the extent shares of IAC common stock are issued in settlement, we will reimburse IAC for the cost of those shares by issuing additional shares of our common stock to IAC. During the year ended December 31, 2018, approximately 3 million shares of Match Group common stock were issued to IAC pursuant to the employee matters agreement.

IAC Subordinated Loan Facility. Prior to the completion of the offering, we entered into an uncommitted subordinated loan facility with IAC (the “IAC Subordinated Loan Facility”), pursuant to which we may make one or more requests to IAC to borrow funds. If IAC agrees to fulfill any such borrowing request, the related indebtedness will be incurred in accordance with the terms of the IAC Subordinated Loan Facility. Any indebtedness outstanding under the IAC Subordinated Loan Facility will be by its terms subordinated in right of payment to any obligations under our amended and restated credit agreement and our Senior Notes, and will bear interest at the applicable rate set forth in the pricing grid in our amended and restated credit agreement, which rate is based on our consolidated net leverage ratio at the time of borrowing, plus an additional amount to be agreed upon. The IAC Subordinated Loan Facility has a scheduled final maturity date of no earlier than 90 days after the maturity date of our amended and restated credit agreement or the latest maturity date in respect of any class of term loans outstanding under such agreement. At December 31, 2018, there was no indebtedness outstanding under the IAC Subordinated Loan Facility.

Advisory Agreement. On August 10, 2018, Gregory R. Blatt resigned as a director of the Company and entered into an advisory agreement with the Company, pursuant to which he will advise the Company on matters relating to its business, strategy and operations. The term of the advisory agreement will end on February 29, 2020. Pursuant to their terms, Mr. Blatt’s outstanding stock options will remain exercisable and continue to vest, as applicable, as long as he continues to perform services for the Company.

ANNUAL REPORTS

Upon written request to the Corporate Secretary, Match Group, Inc., 8750 North Central Expressway, Suite 1400, Dallas, Texas 75231, Match Group will provide without charge to each person solicited a printed copy of Match Group’s 2018 Annual Report on Form 10-K, including the financial statements and financial statement schedule filed therewith. Copies are also available on our website at ir.mtch.com . Match Group will furnish requesting stockholders with any exhibit to its 2018 Annual Report on Form 10-K upon payment of a reasonable fee.

STOCKHOLDER PROPOSALS AND DIRECTOR NOMINEES FOR PRESENTATION AT THE 2020 ANNUAL MEETING

Eligible stockholders who intend to have a proposal considered for inclusion in Match Group’s proxy materials for presentation at the 2020 Annual Meeting of Stockholders pursuant to Rule 14a-8 under the Exchange Act must submit such proposal to Match Group at its corporate headquarters no later than January 2, 2020. Stockholder proposals submitted for inclusion in Match Group’s proxy materials must be made in accordance with the provisions of Rule 14a-8 of the Exchange Act. Eligible stockholders who intend to present a proposal or nomination at the 2020 Annual Meeting of Stockholders without inclusion of the proposal in Match Group’s proxy materials are required to provide notice of such proposal or nomination to Match Group at its corporate headquarters no later than March 16, 2020. If Match Group does not receive notice of the proposal or nomination at its corporate headquarters prior to such date, such proposal or nomination will be considered untimely for purposes of Rules 14a-4 and 14a-5 of the Exchange Act and those Match Group officers who have been designated as proxies will accordingly be authorized to exercise discretionary voting authority to vote for or against the proposal. Match Group reserves the right to reject, rule out of order or take other appropriate action with respect to any proposal or nomination that does not comply with these and other applicable requirements.

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HOUSEHOLDING

The SEC has adopted rules that permit companies and intermediaries (such as brokers) to send one set of printed proxy materials to any household at which two or more stockholders reside if they appear to be members of the same family or have given their written consent (each stockholder continues to receive a separate proxy card). This process, which is commonly referred to as “householding,” reduces the number of duplicate copies of proxy materials stockholders receive and reduces printing and mailing costs. Only one set of our printed proxy materials will be sent to stockholders eligible for householding unless contrary instructions have been provided.

Once you have received notice that your broker or Match Group will be householding your proxy materials, householding will continue until you are notified otherwise or you revoke your consent. You may request a separate set of our printed proxy materials by sending a written request to Investor Relations, Match Group, Inc., 8750 North Central Expressway, Suite 1400, Dallas, Texas 75231, or by sending an e-mail to [email protected] . Upon request, Match Group undertakes to deliver such materials promptly.

If at any time: (i) you no longer wish to participate in householding and would prefer to receive a separate set of our printed proxy materials or (ii) you and another stockholder sharing the same address wish to participate in householding and prefer to receive one set of our proxy materials, please notify your broker if you hold your shares in street name or Match Group if you are a stockholder of record. You can notify us by sending a written request to Investor Relations, Match Group, Inc., 8750 North Central Expressway, Suite 1400, Dallas, Texas 75231, or by sending an e-mail to [email protected] .

NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIALS

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be held on June 19, 2019.

The Proxy Statement and the 2018 Annual Report on Form 10-K are available at http://www.proxyvote.com beginning on April 30, 2019.

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APPENDIX A

AUDIT COMMITTEE CHARTER MATCH GROUP, INC.

PURPOSE

The Audit Committee is appointed by the Board of Directors of Match Group, Inc. (the “Company”) (the “Board”) to oversee the accounting and financial reporting processes of the Company and the audits of the Company’s financial statements. In that regard, the Audit Committee assists the Board in monitoring (1) the integrity of the financial statements of the Company, (2) the effectiveness of the Company’s internal control over financial reporting, (3) the qualifications and independence of the independent registered public accounting firm (the “independent accounting firm”), (4) the performance of the Company’s internal audit function and independent accounting firm, (5) the Company’s risk assessment and risk management policies as they relate to financial and other risk exposures, and (6) the compliance by the Company with legal and regulatory requirements.

In fulfilling its purpose, the Audit Committee shall maintain free and open communication between the Committee, the independent accounting firm, the internal auditors and management of the Company.

COMMITTEE MEMBERSHIP

The Audit Committee shall consist of no fewer than three members. The members of the Audit Committee shall meet the independence and experience requirements of the marketplace rules of the NASDAQ stock market (the “Marketplace Rules”) and Rule 10A- 3(b)(1) under the Securities Exchange Act of 1934 (the “Exchange Act”). All members of the Audit Committee shall be able to read and understand fundamental financial statements. No member of the Audit Committee shall have participated in the preparation of the financial statements of the Company in the past three years. These membership requirements shall be subject to exemptions and cure periods permitted by the Marketplace Rules and the Securities and Exchange Commission (the “SEC”), as in effect from time to time.

At least one member of the Audit Committee shall be an “audit committee financial expert” as defined by the SEC. The members of the Audit Committee shall be appointed and may be replaced by the Board.

MEETINGS

The Audit Committee shall meet as often as it determines necessary but not less frequently than quarterly. The Audit Committee shall have the authority to meet periodically with management, the internal auditors and the independent accounting firm in separate executive sessions, and to have such other direct and independent interaction with such persons from time to time as the members of the Audit Committee deem necessary or appropriate. The Audit Committee may request any officer or employee of the Company or the Company’s outside counsel or independent accounting firm to attend a meeting of the Committee or to meet with any members of, or consultants to, the Committee. Written minutes of Committee meetings shall be maintained.

COMMITTEE AUTHORITY AND RESPONSIBILITIES

The Audit Committee shall have the sole authority to appoint, determine funding for, and oversee the independent accounting firm (subject, if applicable, to shareholder ratification). The Audit Committee shall be directly responsible for the compensation and oversight of the work of the independent accounting firm (including resolution of disagreements between management and the independent accounting firm regarding financial reporting and/or internal control related matters) for the purpose of preparing or issuing an audit report or related work. The independent accounting firm shall report directly to the Audit Committee.

The Audit Committee shall pre-approve all auditing services, audit-related services, including internal control-related services, and permitted non-audit services to be performed for the Company by its independent accounting firm, subject to the de minimus exceptions for non-audit services described in Section 10A(i)(1)(B) of the Exchange Act which are approved by the Audit Committee prior to the completion of the audit. The Audit Committee may form and delegate authority to subcommittees consisting of one or more members when appropriate, including the authority to grant pre-approvals of audit, audit-related and permitted non-audit services, provided that decisions of such subcommittee to grant pre-approvals shall be presented to the full Audit Committee at its next scheduled meeting.

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The Audit Committee shall have the authority, to the extent it deems necessary or appropriate, to conduct investigations into any matters within its scope of responsibility, to obtain advice and assistance from outside legal, accounting, or other advisors, as necessary, to perform its duties and responsibilities, and to otherwise engage and determine funding for independent legal, accounting or other advisors. The Company shall provide for appropriate funding, as determined by the Audit Committee, for payment of compensation to the independent accounting firm for the purpose of rendering or issuing an audit report or performing other audit, review or attest services for the Company and to any advisors employed by the Audit Committee, as well as funding for the payment of ordinary administrative expenses of the Audit Committee that are necessary or appropriate in carrying out its duties.

The Audit Committee shall make regular reports to the Board. The Audit Committee shall review and reassess the adequacy of this Charter annually and recommend any proposed changes to the Board for approval.

In fulfilling its purpose and carrying out its responsibilities, the Audit Committee shall maintain flexibility in its policies and procedures in order to best address changing conditions and a variety of circumstances. Accordingly, the Audit Committee’s activities shall not be limited by this Charter. Subject to the foregoing, the Audit Committee shall, to the extent it deems necessary or appropriate:

1. Review and discuss with management and the independent accounting firm the annual audited financial statements, as well as disclosures made in management’s discussion and analysis, and recommend to the Board whether the audited financial statements should be included in the Company’s Form 10-K.

2. Review and discuss with management and the independent accounting firm the Company’s earnings press releases and the results of the independent accounting firm’s review of the quarterly financial statements.

3. Discuss with management and the independent accounting firm significant financial reporting issues and judgments made in connection with the preparation of the Company’s financial statements, including any significant changes in the Company’s selection or application of accounting principles.

4. Review and discuss with management and the independent accounting firm any major issues as to the adequacy of the Company’s internal controls, including any significant deficiencies in the design or operation of internal controls or material weaknesses therein and any fraud involving management or other employees who have a significant role in the Company’s internal controls, any special steps adopted in light of these issues and the adequacy of disclosures about changes in internal control over financial reporting.

5. Review and discuss any material issues raised by or reports from the independent accounting firm, including those relating to:

(a) Critical accounting policies and practices to be used in preparing the Company’s financial statements.

(b) Alternative treatments of financial information within generally accepted accounting principles that have been discussed with management, ramifications of the use of such alternative disclosures and treatments, and the treatment preferred by the independent accounting firm.

(c) Unadjusted differences and management letters.

6. Discuss with management the Company’s major financial risk exposures and the steps management has taken to monitor and control such exposures, including the Company’s risk assessment and risk management policies.

7. Discuss with the independent accounting firm the matters required to be discussed by PCAOB Auditing Standard No. 16, “Communications with Audit Committees.”

8. Periodically evaluate the qualifications and performance of the independent accounting firm and the senior members of the audit team, including a review of reports provided by the independent accounting firm relating to its internal quality-control procedures.

9. Obtain from the independent accounting firm a formal written statement delineating all relationships between the independent accounting firm and the Company. It is the responsibility of the Audit Committee to actively engage in a dialogue with the independent accounting firm with respect to any disclosed relationships or services that may impact the objectivity and independence of the accounting firm and for purposes of taking, or recommending that

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the full Board take, appropriate actions to oversee the independence of the outside accounting firm.

10. Meet with the independent accounting firm prior to the audit to discuss the scope, planning and staffing of the audit.

11. Review the proposed internal audit annual audit plan and any significant changes to such plan with management; review and discuss the progress and any significant results of executing such plan; and receive reports on the status of significant findings, recommendations and responses.

12. Obtain from the independent accounting firm assurance that Section 10A(b) of the Exchange Act has not been implicated.

13. Discuss with management, the Company’s senior internal auditing executive and the independent accounting firm the Company’s and its subsidiaries’ compliance with applicable legal requirements and codes of conduct.

14. Review all related party transactions in accordance with the Audit Committee’s formal, written policy.

15. Establish procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters, and the confidential, anonymous submission by employees of concerns regarding questionable accounting or auditing matters.

16. Discuss with management and the independent accounting firm any correspondence with regulators or governmental agencies and any published reports which raise material issues regarding the Company’s financial statements or accounting policies.

17. Discuss with the Company’s General Counsel legal matters that may have a material impact on the financial statements or the Company’s compliance policies.

18. Furnish the Audit Committee report required by the rules of the SEC to be included in the Company’s annual proxy statement.

LIMITATION OF AUDIT COMMITTEE’S ROLE

While the Audit Committee has the responsibilities and powers set forth in this Charter, it is not the duty of the Audit Committee to plan or conduct audits or to determine that the Company’s financial statements and disclosures are complete and accurate and are in accordance with generally accepted accounting principles and applicable rules and regulations or to determine that the Company’s internal controls over financial reporting are effective. These are the responsibilities of management and the independent accounting firm. Additionally, the Audit Committee as well as the Board recognizes that members of the Company’s management who are responsible for financial management, as well as the independent accounting firm, have more time, knowledge, and detailed information on the Company than do Committee members; consequently, in carrying out its oversight responsibilities, the Audit Committee is not providing any expert or special assurances with respect to the Company’s financial statements or any professional certifications as to the independent accounting firm’s work.

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APPENDIX B

COMPENSATION AND HUMAN RESOURCES COMMITTEE CHARTER MATCH GROUP, INC.

PURPOSE

The Compensation and Human Resources Committee (the “Committee”) is appointed by the Board of Directors (the “Board”) to discharge the Board’s responsibilities relating to the compensation of Match Group, Inc.’s (the “Company”) Chairman (the “Chairman”) and the Company’s other executive officers (collectively, including the Chairman, the “Executive Officers”). The Committee has overall responsibility for approving and evaluating all compensation plans, policies and programs of the Company as they affect the Executive Officers.

COMMITTEE MEMBERSHIP

The Committee shall consist of no fewer than two members. The members of the Committee shall meet the independence requirements of the NASDAQ Stock Market. In addition, all Committee members shall qualify as “outside” directors within the meaning of the Internal Revenue Code Section 162(m) and as “non-employee” directors within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934, as amended. These membership requirements shall be subject to exemptions and cure periods permitted by the rules of NASDAQ and the Securities and Exchange Commission (the “SEC”), as in effect from time to time.

The Board shall appoint the members of the Committee and the Committee Chair. Committee members may be replaced by the Board at any time, with or without cause.

MEETINGS

The Committee shall meet as often as necessary to carry out its responsibilities. When necessary, the Committee shall meet in executive session outside of the presence of any senior executive officer of the Company. The Committee Chairman shall preside at each meeting. In the event the Committee Chairman is not present at a meeting, the Committee members present at that meeting shall designate one of its members as the acting chair of such meeting.

COMMITTEE RESPONSIBILITIES AND AUTHORITY

In fulfilling its purpose and carrying out its responsibilities, the Committee shall maintain flexibility in its policies and procedures in order to best address changing conditions and a variety of circumstances. Accordingly, the Committee’s activities shall not be limited by this Charter. Subject to the foregoing, to the extent it deems necessary or appropriate:

1. The Committee shall review and approve base salaries and incentive opportunities of the Executive Officers. The Chairman shall not be present during any Committee deliberations or voting with respect to his or her compensation.

2. The Committee shall, periodically and as and when appropriate, review and approve the following as they affect the Executive Officers: (a) all other incentive awards and opportunities, including both cash-based and equity-based awards and opportunities; (b) any employment agreements and severance arrangements; (c) any change-in-control agreements and change-in-control provisions affecting any elements of compensation and benefits; and (d) any special or supplemental compensation and benefits for the Executive Officers and individuals who formerly served as Executive Officers, including supplemental retirement benefits and the perquisites provided to them during and after employment.

3. The Committee shall review and discuss the Compensation Discussion and Analysis (the “CD&A”) required to be included in the Company’s proxy statement and annual report on Form 10-K by the rules and regulations of the SEC with management, and, based on such review and discussion, determine whether or not to recommend to the Board that the CD&A be so included.

4. The Committee shall produce the annual Compensation Committee Report for inclusion in the Company’s proxy statement in compliance with the rules and regulations promulgated by the SEC.

5. The Committee shall monitor the Company’s compliance with the requirements under the Sarbanes-Oxley Act of

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2002 relating to loans to directors and officers, and with all other applicable laws affecting employee compensation and benefits.

6. The Committee shall oversee the Company’s compliance with SEC rules and regulations regarding shareholder approval of certain executive compensation matters, including advisory votes on executive compensation and the frequency of such votes, and the requirement under the NASDAQ rules that, with limited exceptions, shareholders approve equity compensation plans.

7. The Committee shall receive periodic reports on the Company’s compensation programs as they affect all employees.

8. The Committee shall make regular reports to the Board.

9. The Committee shall have the authority, in its sole discretion, to retain and terminate (or obtain the advice of) any adviser to assist it in the performance of its duties, but only after taking into consideration factors relevant to the adviser’s independence from management specified in NASDAQ Listing Rule 5605(d)(3) or other applicable regulations and listing standards. The Committee shall be directly responsible for the appointment, compensation and oversight of the work of any adviser retained by the Committee, and shall have sole authority to approve the adviser’s fees and the other terms and conditions of the adviser’s retention. The Company must provide for appropriate funding, as determined by the Committee, for payment of reasonable compensation to any adviser retained by the Committee.

10. The Committee may form and delegate authority to subcommittees and may delegate authority to one or more designated members of the Committee as it deems appropriate. The Committee may delegate to one or more executive officers the authority to make grants of equity-based compensation to eligible individuals other than directors or executive officers to the extent allowed under applicable law. Any executive officer to whom the Committee grants such authority shall regularly report to the Committee grants so made and the Committee may revoke any delegation of authority at any time.

11. The Committee shall periodically review and reassess the adequacy of this Charter and recommend any proposed changes to the Board for approval.

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VOTE BY INTERNET - www.proxyvote.com Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you access the website and follow the instructions to obtain your records and to create an electronic voting instruction form. Match Group, Inc. 8750 North Central Expressway Suite 1400 Dallas, TX 75231 ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS If you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery, please follow the instructions above to vote using the Internet and, when prompted, indicate that you agree to receive or access proxy materials electronically in future years. VOTE BY PHONE - 1-800-690-6903 Use any touch-tone telephone to transmit your voting instructions up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you call and then follow the instructions. VOTE BY MAIL Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: KEEP THIS PORTION FOR YOUR RECORDS DETACH AND RETURN THIS PORTION ONLY THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. For Withhold For All Except To withhold authority to vote for any individual nominee(s), mark “For All Except” and write the number(s) of the AllAll The Board of Directors recommends you vote FOR the following: nominee(s) on the line below. 0 0 0 1. Election of Directors Nominees 01) Amanda Ginsberg 06) Pamela S. Seymon 02) Joseph Levin 07) Alan G. Spoon 03) Ann L. McDaniel 08) Mark Stein 04) Thomas J. McInerney 09) Gregg Winiarski 05) Glenn H. Schiffman 10) Sam Yagan The Board of Directors recommends you vote FOR proposals 2 and 3. 2. To approve a non-binding advisory resolution on executive compensation. For 0 0 Against 0 0 Abstain 0 0 3. Ratification of the appointment of Ernst & Young LLP as Match Group, Inc.'s independent registered public accounting firm for 2019. NOTE: Such other business as may properly come before the meeting or any adjournment thereof. Please sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, or other fiduciary, please give full title as such. Joint owners should each sign personally. All holders must sign. If a corporation or partnership, please sign in full corporate or partnership name by authorized officer. Signature [PLEASE SIGN WITHIN BOX] Date Signature (Joint Owners) Date 0000422949_1 R1.0.1.18

RLP 327

RLP 328 Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting: The Notice and Proxy Statement and Annual Report is/are available at www.proxyvote.com Match Group, Inc. Annual Meeting of Stockholders June 19, 2019 8:00 a.m. This proxy is solicited by the Board of Directors The undersigned stockholder of Match Group, Inc., a Delaware corporation, hereby acknowledges receipt of the Notice of Annual Meeting of Stockholders and Proxy Statement, each dated April 30, 2018, and hereby appoints each of Philip D. Eigenmann, Jared F. Sine and Francisco J. Villamar, proxy and attorney-in-fact, each with full power of substitution, on behalf and in the name of the undersigned, to represent the undersigned at the Annual Meeting of Stockholders of Match Group, Inc. to be held on June 19, 2019, at 8:00 a.m. local time, at The London West Hollywood, Kensington Ballroom, 1020 N. San Vicente Blvd., West Hollywood, California 90069, and at any related adjournments or postponements, and to vote all shares of Common Stock which the undersigned would be entitled to vote if then and there personally present, on the matters set forth on the reverse side hereof. THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED AS DIRECTED OR, IF NO DIRECTION IS INDICATED, WILL BE VOTED "FOR" EACH OF THE PROPOSALS LISTED, AND IN THE DISCRETION OF THE PROXIES ON SUCH OTHER MATTERS AS MAY PROPERLY COME BEFORE THE MEETING, INCLUDING, AMONG OTHER THINGS, CONSIDERATION OF ANY MOTION MADE FOR ADJOURNMENT OR POSTPONEMENT OF THE MEETING. Continued and to be signed on reverse side 0000422949_2 R1.0.1.18

RLP 329 DECLARATION OF RAMONA PRIOLEAU

EXHIBIT W

RLP 330 EX-3.2 3 a15-23820_4ex3d2.htm EX-3.2 Exhibit 3.2

AMENDED AND RESTATED

BY-LAWS

OF

MATCH GROUP, INC.

ARTICLE I

OFFICES

Section 1. Principal Office. The registered office of Match Group, Inc. (the “Corporation”) shall be located in the City of Dover, County of Kent, State of Delaware.

Section 2. Other Offices. The Corporation may also have offices at such other places, both within and without the State of Delaware, as the board of directors of the Corporation (the “Board of Directors”) may from time to time determine or the business of the Corporation may require.

ARTICLE II

STOCKHOLDERS

Section 1. Place of Meeting. Meetings of stockholders may be held at such place, either within or without the State of Delaware, as may be designated by the Board of Directors. If no designation is made, the place of the meeting shall be the principal office of the Corporation.

Section 2. Annual Meeting. The annual meeting of the stockholders shall be held at such date and time as may be fixed by resolution of the Board of Directors.

Section 3. Special Meetings. Special meetings of the stockholders may be called by the Chairman of the Board or a majority of the Board of Directors.

Section 4. Notice. Written notice stating the date, time and place, if any, of the meeting, the means of remote communication, if any, by which stockholders and proxy holders may be deemed to be present in person and vote at such meeting, and in case of a special meeting, the purpose or purposes thereof, shall be given to each stockholder entitled to vote thereat not less than ten (10) nor more than sixty (60) days prior thereto, either personally or by mail, facsimile, telegraph or other means of electronic communication, addressed to each stockholder at his address as it appears on the records of the Corporation; provided that notices to stockholders who share an address may be given in the manner permitted by the General Corporation Law of the State of Delaware. If mailed, such notice shall be deemed to be delivered when deposited in the United States mail so addressed, with postage thereon prepaid. If notice be by facsimile, telegram, or other means of electronic communication, such notice shall be deemed to be given at the time provided in the General Corporation Law of the State of Delaware. Such further notice shall be given as may be required by law. Meetings may be held without notice if all stockholders entitled to vote are present (unless any such stockholders are present for the purpose of objecting to the meeting as lawfully called or convened), or if notice is waived by those not present. Any previously scheduled meeting of the stockholders may be postponed, and (unless the Certificate of Incorporation otherwise provides) any special meeting of the stockholders may be canceled, by resolution of the Board of Directors upon public notice given prior to the time previously scheduled for such meeting of stockholders.

Section 5. Adjourned Meetings. The Chairman of the meeting or a majority of the voting power of the shares so represented may adjourn the meeting from time to time, whether or not there is a quorum. When a meeting is adjourned to another time or place, except as required by law, notice of the adjourned meeting need not be given if the time, place, if any, thereof and the means of remote communication, if any, by which stockholders and proxy holders may be deemed to be present in person and vote at such meeting, are announced at the meeting at which the adjournment is taken, if the adjournment is for not more than thirty (30) days, and if no new record date is fixed for the adjourned meeting. At the adjourned meeting the Corporation may transact any business that might have been transacted at the original meeting.

RLP 331

Section 6. Quorum. Except as otherwise required by law, the holders of shares representing a majority of the voting power of the Corporation entitled to vote, present in person or represented by proxy, shall constitute a quorum at all meetings of the stockholders for the transaction of business; provided, however, that where a separate vote by a class or series or classes or series is required, a majority of the outstanding shares of such class or series or classes or series shall constitute a quorum with respect to such vote. If a quorum shall not be present or represented at any meeting of the stockholders, the stockholders entitled to vote thereat, present in person or represented by proxy, shall have the power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present or represented. If at such adjourned meeting, a quorum shall be present or represented, any business may be transacted that might have been transacted at the meeting as originally notified.

Section 7. Voting. Except as otherwise provided in the Certificate of Incorporation, each stockholder shall at every meeting of the stockholders be entitled to vote in person or by proxy each share of the class of capital stock having voting power held by such stockholder.

Section 8. Procedure for Election of Directors; Required Vote. Election of directors at all meetings of the stockholders at which directors are to be elected shall be by ballot, and, subject to the rights of the holders of shares of Preferred Stock to elect directors under specified circumstances, a plurality of the votes cast thereat shall elect directors. Except as otherwise provided by law, the Certificate of Incorporation, or these By-Laws, in all matters other than the election of directors, the affirmative vote of a majority of the voting power of the shares present in person or represented by proxy at the meeting and entitled to vote on the matter shall be the act of the stockholders.

Section 9. Inspectors of Elections; Opening and Closing the Polls. The Board of Directors by resolution shall appoint one or more inspectors, which inspector or inspectors may include individuals who serve the Corporation in other capacities, including, without limitation, as officers, employees, agents or representatives, to act at the meetings of stockholders and make a written report thereof. One or more persons may be designated as alternate inspectors to replace any inspector who fails to act. If no inspector or alternate has been appointed to act or is able to act at a meeting of stockholders, the Chairman of the meeting shall appoint one or more inspectors to act at the meeting. Each inspector, before discharging the duties of an inspector, shall take and sign an oath faithfully to execute the duties of inspector with strict impartiality and according to the best of the inspector’s ability. The inspectors shall have the duties prescribed by law.

The Chairman of the meeting shall fix and announce at the meeting the date and time of the opening and the closing of the polls for each matter upon which the stockholders will vote at a meeting.

Section 10. Action Without Meeting. Any action required or permitted to be taken at any annual or special meeting of stockholders may be taken without a meeting, without prior notice and without a vote, if a consent in writing, setting forth the action so taken, is signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all of the shares entitled to vote thereon were present and voted, provided that prompt notice of such action shall be given to those stockholders who have not so consented in writing to such action without a meeting and who would have been entitled to notice of such meeting.

ARTICLE III

DIRECTORS

Section 1. Number and Tenure. The business and affairs of the Corporation shall be managed by the Board of Directors, the number thereof to be determined from time to time by resolution of the Board of Directors. Each director shall serve for a term of one year from the date of his election and until his successor is elected. Directors need not be stockholders.

Section 2. Resignation or Removal. Any director may at any time resign by delivering to the Board of Directors his resignation in writing. Any director or the entire Board of Directors may at any time be removed effective immediately, with or without cause, by the vote, either in person or represented by proxy, of a majority of the voting power of shares of stock issued and outstanding of the class or classes that elected such director and entitled to vote at a special meeting held for such purpose or by the written consent of a majority of the voting power of shares of stock issued and outstanding of the class or classes that elected such director.

Section 3. Vacancies. Vacancies and newly created directorships resulting from any increase in the authorized number of directors may be filled by the vote of a majority of the remaining directors elected by the stockholders who vote on such directorship, though less than a quorum, or a majority of the voting power of shares of such stock issued and outstanding and entitled to vote on such directorship at a special meeting held for such purpose or by the written consent of a majority of the voting power of RLP 332 shares of such stock issued and outstanding. The directors so chosen shall hold office until the next annual election and until their respective successors are duly elected.

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Section 4. Regular Meetings. Regular meetings of the Board of Directors shall be held at such dates, times and places as may be designated by the Chairman of the Board, and shall be held at least once each year.

Section 5. Special Meetings. Special meetings of the Board of Directors may be called by or at the request of the Chairman of the Board or a majority of the directors. The person or persons calling a special meeting of the Board of Directors may fix a place and time within or without the State of Delaware for holding such meeting.

Section 6. Notice. Notice of any regular meeting or a special meeting shall be given to each director, either orally, by facsimile or other means of electronic communication or by hand delivery, addressed to each director at his address as it appears on the records of the Corporation. If notice be by facsimile or other means of electronic communication, such notice shall be deemed to be adequately delivered when the notice is transmitted at least twenty-four (24) hours before such meeting. If by telephone or by hand delivery, the notice shall be given at least twenty-four (24) hours prior to the time set for the meeting. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the Board of Directors need be specified in the notice of such meeting. A meeting may be held at any time without notice if all the directors are present or if those not present waive notice of the meeting in accordance with Article IX of these By-Laws.

Section 7. Quorum. At all meetings of the Board of Directors, a majority of the total number of directors shall constitute a quorum for the transaction of business and, unless otherwise provided in the Certificate of Incorporation or these By-Laws, the affirmative vote of a majority of the directors present at any meeting at which there is a quorum shall be an act of the Board of Directors. If a quorum is not present at any meeting of the Board of Directors, the directors present may adjourn the meeting from time to time, without notice, until a quorum shall be present. A director present at a meeting shall be counted in determining the presence of a quorum, regardless of whether a contract or transaction between the Corporation and any other corporation, partnership, association, or other organization in which such director is a director or officer or has a financial interest, is authorized or considered at such meeting.

Section 8. Action Without Meeting. Any action required or permitted to be taken at any meeting of the Board of Directors or of any committee thereof may be taken without a meeting if all members of the Board of Directors or such committee, as the case may be, consent thereto in writing or by electronic communication and such written consent or consents and copies of such communication or communications are filed with the minutes of proceedings of the Board of Directors or committee.

Section 9. Action by Conference Telephone. Members of the Board of Directors or any committee thereof may participate in a meeting of such Board of Directors or committee by means of a conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in person at such meeting.

Section 10. Committees. The Board of Directors may from time to time designate committees of the Board of Directors, with such lawfully delegable powers and duties as it thereby confers, to serve at the pleasure of the Board of Directors and shall, for those committees and any others provided for herein, elect a director or directors to serve as the member or members, designating, if it desires, other directors as alternate members who may replace any absent or disqualified member at any meeting of the committee. In the absence or disqualification of any member of any committee and any alternate member in his place, the member or members of the committee present at the meeting and not disqualified from voting, whether or not he or they constitute a quorum, may by unanimous vote appoint another member of the Board of Directors to act at the meeting in the place of the absent or disqualified member.

Section 11. Compensation of Directors. The directors may be paid their expenses, if any, of attendance at each meeting of the Board of Directors and may be paid a fixed sum for attendance at each meeting of the Board of Directors or a stated salary as director. No such payment shall preclude any director from serving the Corporation in any other capacity and receiving compensation therefor. Members of committees may be allowed like compensation for service as committee members.

ARTICLE IV

OFFICERS

RLP 333 Section 1. Number and Salaries. The officers of the Corporation shall consist of a Chairman of the Board (the “Chairman”), a Secretary, a Treasurer, and such other officers and agents as may be deemed necessary by the Board of Directors. Any two (2) or more offices may be held by the same person.

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Section 2. Election and Term of Office. The officers of the Corporation shall be elected by the Board of Directors at the first meeting of the Board of Directors following the stockholders’ annual meeting, and shall serve for a term of one (1) year and until a successor is elected by the Board of Directors. Unless otherwise provided in the Certificate of Incorporation or these By-Laws, any officer appointed by the Board of Directors may be removed, with or without cause, at any time by the Chairman, the CEO or by the Board of Directors. Each officer shall hold his office until his successor is appointed or until his earlier resignation, removal from office, or death. All officers elected by the Board of Directors shall each have such powers and duties as generally pertain to their respective offices, subject to the specific provisions of this Article IV. Such officers shall also have such powers and duties as from time to time may be conferred by the Board of Directors or by any committee thereof. The Board or any committee thereof may from time to time elect, or the Chairman or the CEO may appoint, such other officers (including a President, a Chief Financial Officer and one or more Vice Presidents) and such agents, as may be necessary or desirable for the conduct of the business of the Corporation. Such other officers and agents shall have such duties and shall hold their offices for such terms as shall be provided in these By-Laws or as may be prescribed by the Board or such committee or by the Chairman or the CEO, as the case may be.

Section 3. The Chairman of the Board. Except as otherwise provided in the Certificate of Incorporation, the Chairman shall be elected by the Board of Directors from their own numbers and shall preside as Chairman at all meetings of the stockholders and of the Board of Directors. The Chairman shall be the Senior Executive of the Corporation (and, as such Senior Executive, an officer of the Corporation). The Chairman shall perform such duties and possess such powers as are customarily vested in the office of the Chairman of the Board or as may be vested in him by the Board of Directors. During the time of any vacancy in the office of CEO or in the event of the absence or disability of the CEO, the Chairman shall have the duties and powers of the CEO unless otherwise determined by the Board of Directors. In no event shall any third party having dealings with the Corporation be bound to inquire as to any facts required by the terms of this Section 3 for the exercise by the Chairman of the powers of the CEO. The Chairman shall be empowered to sign all certificates, contracts and other instruments of the Corporation, and to do all acts that are authorized by the Board of Directors, and shall, in general, have such other duties and responsibilities as are assigned consistent with the authority of a Chairman of the Board of a corporation. In addition, the Board of Directors may designate by resolution one or more Vice Chairmen of the Board with such duties as may from time to time be requested by the Board of Directors.

Section 4. The Chief Executive Officer. The Board of Directors in consultation with the Chairman may elect a CEO. The CEO shall be responsible for the general management of the affairs of the Corporation and shall perform all duties incidental to his office. The CEO shall be empowered to sign all certificates, contracts and other instruments of the Corporation, and to do all acts that are authorized by the Board of Directors, and shall, in general, have such other duties and responsibilities as are assigned consistent with the authority of a Chief Executive Officer of a corporation. The CEO may be removed, with or without cause, at any time by the Board of Directors.

Section 5. The President. The Board of Directors, the Chairman or the CEO may elect a President to have such duties and responsibilities as from time to time may be assigned to him by the Chairman, the CEO or the Board of Directors. The President shall be empowered to sign all certificates, contracts and other instruments of the Corporation, and to do all acts which are authorized by the Chairman, the CEO or the Board of Directors, and shall, in general, have such other duties and responsibilities as are assigned consistent with the authority of a President of a corporation.

Section 6. Chief Financial Officer. The Chief Financial Officer (if any) shall act in an executive financial capacity. The Chief Financial Officer shall assist the Chairman of the Board, the CEO and the President in the general supervision of the Corporation’s financial policies and affairs. The Chief Financial Officer shall be empowered to sign all certificates, contracts and other instruments of the Corporation, and to do all acts which are authorized by the Chairman, the CEO or the Board of Directors, and shall, in general, have such other duties and responsibilities as are assigned consistent with the authority of a Chief Financial Officer of a corporation.

Section 7. Vice Presidents. The Board of Directors, the CEO or the Chairman may from time to time name one or more Vice Presidents that may include the designation of Executive Vice Presidents and Senior Vice Presidents all of whom shall perform such duties as from time to time may be assigned to him by the Chairman, the CEO or the Board of Directors.

Section 8. The Secretary. The Secretary shall keep the minutes of the proceedings of meetings of the stockholders and of the Board of Directors (or, in the event of the absence of the Secretary from any such meeting, the Chairman of such meeting RLP 334 shall designate an officer of the Corporation to keep such minutes); the Secretary shall give, or cause to be given, all notices in accordance with the provisions of these By-Laws or as required by law, shall be custodian of the corporate records and of the seal of the Corporation, and, in general, shall perform such other duties as may from time to time be assigned by the Chairman, the CEO or the Board of Directors.

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Section 9. Treasurer. The Treasurer shall have the custody of the corporate funds and securities, shall keep, or cause to be kept, correct and complete books and records of account, including full and accurate accounts of receipts and disbursements in books belonging to the Corporation, shall deposit all monies and other valuable effects in the name and to the credit of the Corporation in such depositories as may be designated by the Board of Directors, and in general shall perform all duties incident to the office of Treasurer and such other duties as from time to time may be assigned to him by the Chairman, the CEO or the Board of Directors.

ARTICLE V

CERTIFICATES OF STOCK

Section 1. Certificates of Stock. Shares of stock of the Corporation may be certificated or uncertificated, as provided under the General Corporation Law of the State of Delaware. Every holder of stock in the Corporation shall be entitled to have a certificate signed by or in the name of the Corporation by the Chairman, CEO or President, if any (or any Vice President), and by the Treasurer or the Secretary of the Corporation, certifying the number of shares owned by the stockholder in the Corporation.

Section 2. Facsimile Signatures. The signature of the Chairman, CEO, President, Vice President, Treasurer or Secretary on any stock certificate may be a facsimile. In case any officer or officers who have signed, or whose facsimile signature or signatures have been used on any such certificate or certificates shall cease to be such officer or officers of the Corporation, whether because of death, resignation or otherwise, before such certificate or certificates have been delivered by the Corporation, such certificate or certificates may nevertheless be adopted by the Corporation and be issued and delivered as though the person or persons who signed such certificate or certificates or whose facsimile signature or signatures have been used thereon had not ceased to be such officer or officers of the Corporation.

Section 3. Lost Certificates. The Board of Directors may direct that new certificate(s) be issued by the Corporation to replace any certificate(s) alleged to have been lost or destroyed, upon its receipt of an affidavit of that fact by the person claiming the certificate(s) of stock to be lost or destroyed. When authorizing such issue of new certificate(s), the Board of Directors may, in its discretion and as a condition precedent to the issuance thereof, require the owner of such lost or destroyed certificate(s), or such owner’s legal representative, to advertise the same in such manner as it shall require and/or to give the Corporation a bond in such sum as it may direct as indemnity against any claim that may be made against the Corporation with respect to the certificate(s) alleged to have been lost or destroyed.

Section 4. Transfer of Stock. Upon surrender to the Corporation or its transfer agent of a certificate for shares duly endorsed or accompanied by proper evidence of succession, assignment or authority to transfer, the Corporation shall issue a new certificate to the person entitled thereto, cancel the old certificate and record the transaction upon its books. Upon receipt of proper transfer instructions from the registered owner of uncertificated shares, such uncertificated shares shall be canceled, and issuance of new equivalent uncertificated shares or certificated shares shall be made to the person entitled thereto, and the transaction shall be recorded upon the books of the Corporation.

Section 5. Closing of Transfer Books or Fixing of Record Date. In order that the Corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders, or to receive payment of any dividend or other distribution or allotment of any rights or to exercise any rights in respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the Board of Directors may fix a record date, which record date shall not precede the date on which the resolution fixing the record date is adopted and, in the case of a meeting of stockholders, which record date shall not be more than sixty (60) nor less than ten (10) days before the date of any meeting of stockholders, nor more than sixty (60) days prior to the time for such other action as hereinbefore described; provided, however, that if no record date is fixed by the Board of Directors, the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice is given or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held, and, for determining stockholders entitled to receive payment of any dividend or other distribution or allotment of rights or to exercise any rights of change, conversion or exchange of stock or for any other purpose, the record date shall be at the close of business on the day on which the Board of Directors adopts a resolution relating thereto.

RLP 335 A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however, that the Board of Directors may fix a new record date for the adjourned meeting.

In order that the Corporation may determine the stockholders entitled to consent to corporate action without a meeting (including by telegram, cablegram or other electronic communication as permitted by law), the Board of Directors may fix a record date, which shall not precede the date upon which the resolution fixing the record date is adopted by the Board of Directors, and which record date shall be not more than ten (10) days after the date upon which the resolution fixing the record date is adopted. If no record date has been fixed by the Board of Directors and no prior action by the Board of Directors is required by the General Corporation

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Law of the State of Delaware, the record date shall be the first date on which a consent setting forth the action taken or proposed to be taken is delivered to the Corporation in the manner prescribed by Article I, Section 10 hereof. If no record date has been fixed by the Board of Directors and prior action by the Board of Directors is required by the General Corporation Law of the State of Delaware with respect to the proposed action by consent of the stockholders without a meeting, the record date for determining stockholders entitled to consent to corporate action without a meeting shall be at the close of business on the day on which the Board of Directors adopts the resolution taking such prior action.

Section 6. Registered Stockholders. The Corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends and to vote as such owner. Except as otherwise provided by law, the Corporation shall not be bound to recognize any equitable or other claim to or interest in such shares on the part of any other person whether or not it shall have express or other notice thereof.

ARTICLE VI

CONTRACTS, CHECKS, AND DEPOSITS

Section 1. Contracts. When the execution of any contract or other instrument has been authorized by the Board of Directors without specification of the executing officers, the Chairman, the CEO, the President, any Vice President, the Treasurer and the Secretary, may execute the same in the name of and on behalf of the Corporation and may affix the corporate seal thereto.

Section 2. Checks. All checks or demands for money and notes of the Corporation shall be signed by such officer or officers or such other person or persons as the Board of Directors may from time to time designate.

Section 3. Accounts. Bank accounts of the Corporation shall be opened, and deposits made thereto, by such officers or other persons as the Board of Directors may from time to time designate.

ARTICLE VII

DIVIDENDS

Section 1. Declaration of Dividends. Subject to the provisions, if any, of the Certificate of Incorporation, dividends upon the capital stock of the Corporation may be declared by the Board of Directors at any regular or special meeting, pursuant to law. Dividends may be paid in cash, in property or contractual rights, or in shares of the Corporation’s capital stock.

Section 2. Reserves. Before payment of any dividend, there may be set aside out of any funds of the Corporation available for dividends such sum or sums as the Board of Directors from time to time, in its absolute discretion, thinks proper as a reserve or reserves to meet contingencies or for equalizing dividends, or for repairing or maintaining any property of the Corporation, or for such other purpose as the Board of Directors shall think conducive to the interests of the Corporation, and the Board of Directors may modify or abolish any such reserve in the manner in which it was created.

ARTICLE VIII

FISCAL YEAR

The fiscal year of the Corporation shall be established by the Board of Directors.

ARTICLE IX RLP 336

WAIVER OF NOTICE

Whenever any notice whatever is required to be given by law, the Certificate of Incorporation or these By-Laws, a written waiver thereof, signed by the person or persons entitled to such notice, or a waiver by electronic communications by such person or persons whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice. Neither the business to be conducted at, nor the purpose of such meeting, need be specified in such waiver. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except where a person attends a meeting for the express purpose of objecting at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened.

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ARTICLE X

SEAL

The corporate seal shall have inscribed thereon the name of the Corporation, the year of its organization, and the words “Corporate Seal, Delaware”. The seal may be used by causing it or a facsimile thereof to be impressed or affixed or otherwise reproduced.

ARTICLE XI

EXCLUSIVE FORUM FOR ADJUDICATION OF DISPUTES

Unless the Corporation consents in writing to the selection of an alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director or officer or other employee of the Corporation to the Corporation or the Corporation’s stockholders, (iii) any action asserting a claim against the Corporation or any director or officer or other employee of the Corporation arising pursuant to any provision of the General Corporation Law of Delaware or the Certificate of Incorporation or these By-laws (each as may be amended from time to time), or (iv) any action asserting a claim against the Corporation or any director or officer or other employee of the Corporation governed by the internal affairs doctrine shall be a state court located within the State of Delaware (or, if no state court located within the State of Delaware has jurisdiction, the federal district court for the District of Delaware).

ARTICLE XII

AMENDMENTS

Except as expressly provided otherwise by the General Corporation Law of the State of Delaware, the Certificate of Incorporation, or other provisions of these By-Laws, these By-Laws may be altered, amended or repealed and new By-Laws adopted at any regular or special meeting of the Board of Directors by an affirmative vote of a majority of all directors.

ARTICLE XIII

INDEMNIFICATION AND INSURANCE

Section 1. Indemnification. (A) Each person who was or is made a party or is threatened to be made a party to or is otherwise involved in any action, suit, or proceeding, whether civil, criminal, administrative or investigative (hereinafter a “proceeding”), by reason of the fact that he or a person of whom he is the legal representative is or was, at any time during which this By-Law is in effect (whether or not such person continues to serve in such capacity at the time any indemnification or payment of expenses pursuant hereto is sought or at the time any proceeding relating thereto exists or is brought), a director or officer of the Corporation, or is or was at any such time serving at the request of the Corporation as a director, officer or trustee of another corporation or of a partnership, joint venture, trust, or other enterprise, including service with respect to employee benefit plans maintained or sponsored by the Corporation (each such person, an “indemnitee”), whether the basis of such proceeding is alleged action in an official capacity as a director, officer or trustee or in any other capacity while serving as a director, officer or trustee, shall be indemnified and held harmless by the Corporation to the fullest extent authorized by the General Corporation Law of the State of Delaware as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than said law permitted the Corporation to provide prior to such amendment), against all expense, liability and loss (including attorneys’ fees, judgments, fines, ERISA excise taxes or penalties RLP 337 and amounts paid or to be paid in settlement) reasonably incurred or suffered by such person in connection therewith and such indemnification shall continue as to a person who has ceased to be a director, officer or trustee and shall inure to the benefit of his heirs, executors and administrators; provided, however, that except as provided in paragraph (C) of this By-Law, the Corporation shall indemnify any such person seeking indemnification in connection with a proceeding (or part thereof) initiated by such person only if such proceeding (or part thereof) was authorized by the Board of Directors. The right to indemnification conferred in this By-Law shall include the right to be paid by the Corporation the expenses incurred in defending any such proceeding in advance of its final disposition, such advances to be paid by the Corporation within twenty (20) days after the receipt by the Corporation of a statement or statements from the claimant requesting such advance or advances from time to time; provided, however, that if the General Corporation Law of the State of Delaware requires, the payment of such expenses incurred by a director or officer in his capacity as a director or officer (and not in any other capacity in which service was or is rendered by such person while a director or officer, including, without limitation, service to an employee benefit plan) shall be made only upon delivery to the Corporation of an undertaking (hereinafter, the “undertaking”) by or on behalf of such director or officer, to repay all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right of appeal (a “final disposition”) that such

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director or officer is not entitled to be indemnified for such expenses under this By-Law or otherwise. The rights conferred upon indemnitees in this By-Law shall be contract rights that vest at the time of such person’s service to or at the request of the Corporation and such rights shall continue as to an indemnitee who has ceased to be a director, officer or trustee and shall inure to the benefit of the indemnitee’s heirs, executors and administrators.

(B) To obtain indemnification under this By-Law, a claimant shall submit to the Corporation a written request, including therein or therewith such documentation and information as is reasonably available to the claimant and is reasonably necessary to determine whether and to what extent the claimant is entitled to indemnification. Upon written request by a claimant for indemnification pursuant to the first sentence of this paragraph (B), a determination, if required by applicable law, with respect to the claimant’s entitlement thereto shall be made as follows: (1) if requested by the claimant, by Independent Counsel (as hereinafter defined), or (2) if no request is made by the claimant for a determination by Independent Counsel, (i) by the Board of Directors by a majority vote of the Disinterested Directors (as hereinafter defined), even though less than a quorum, or (ii) by a committee of Disinterested Directors designated by majority vote of the Disinterested Directors, even though less than a quorum, or (iii) if there are no Disinterested Directors or the Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to the claimant, or (iv) if a quorum of Disinterested Directors so directs, by the stockholders of the Corporation. If it is so determined that the claimant is entitled to indemnification, payment to the claimant shall be made within 10 days after such determination.

(C) If a claim under paragraph (A) of this By-Law is not paid in full by the Corporation within thirty (30) days after a written claim pursuant to paragraph (B) of this By-Law has been received by the Corporation (except in the case of a claim for advancement of expenses, for which the applicable period is twenty (20) days), the claimant may at any time thereafter bring suit against the Corporation to recover the unpaid amount of the claim and, if successful in whole or in part, the claimant shall be entitled to be paid also the expense of prosecuting such claim. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in defending any proceeding in advance of its final disposition where the required undertaking, if any is required, has been tendered to the Corporation) that the claimant has not met the standard of conduct which makes it permissible under the General Corporation Law of the State of Delaware for the Corporation to indemnify the claimant for the amount claimed, but the burden of proving such defense shall be on the Corporation. Neither the failure of the Corporation (including the Disinterested Directors, Independent Counsel or stockholders) to have made a determination prior to the commencement of such action that indemnification of the claimant is proper in the circumstances because he has met the applicable standard of conduct set forth in the General Corporation Law of the State of Delaware, nor an actual determination by the Corporation (including the Disinterested Directors, Independent Counsel or stockholders) that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the claimant has not met the applicable standard of conduct.

(D) If a determination shall have been made pursuant to paragraph (B) of this By-Law that the claimant is entitled to indemnification, the Corporation shall be bound by such determination in any judicial proceeding commenced pursuant to paragraph (C) of this By-Law.

(E) The Corporation shall be precluded from asserting in any judicial proceeding commenced pursuant to paragraph (C) of this By-Law that the procedures and presumptions of this By-Law are not valid, binding and enforceable and shall stipulate in such proceeding that the Corporation is bound by all the provisions of this By-Law. RLP 338

(F) The right to indemnification and the payment of expenses incurred in defending a proceeding in advance of its final disposition conferred in this By-Law (i) shall not be exclusive of any other right which any person may have or hereafter acquire under any statute, provision of the Certificate of Incorporation, By-Laws, agreement, vote of stockholders or Disinterested Directors or otherwise and (ii) cannot be terminated by the Corporation, the Board of Directors or the stockholders of the Corporation with respect to a person’s service prior to the date of such termination. Any amendment, modification, alteration or repeal of this By-Law that in any way diminishes, limits, restricts, adversely affects or eliminates any right of an indemnitee or his successors to indemnification, advancement of expenses or otherwise shall be prospective only and shall not in any way diminish, limit, restrict, adversely affect or eliminate any such right with respect to any actual or alleged state of facts, occurrence, action or omission then or previously existing, or any action, suit or proceeding previously or thereafter brought or threatened based in whole or in part upon any such actual or alleged state of facts, occurrence, action or omission.

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(G) The Corporation may, to the extent authorized from time to time by the Board of Directors or the Chairman, grant rights to indemnification, and rights to be paid by the Corporation the expenses incurred in defending any proceeding in advance of its final disposition, to any current or former employee or agent of the Corporation to the fullest extent of the provisions of this By-Law with respect to the indemnification and advancement of expenses of current or former directors and officers of the Corporation.

(H) If any provision or provisions of this By-Law shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (1) the validity, legality and enforceability of the remaining provisions of this By-Law (including, without limitation, each portion of any paragraph of this By-Law containing any such provision held to be invalid, illegal or unenforceable, that is not itself held to be invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (2) to the fullest extent possible, the provisions of this By-Law (including, without limitation, each such portion of any paragraph of this By-Law containing any such provision held to be invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

(I) For purposes of this By-Law:

(i) “Disinterested Director” means a director of the Corporation who is not and was not a party to the matter in respect of which indemnification is sought by the claimant.

(ii) “Independent Counsel” means a law firm, a member of a law firm, or an independent practitioner, selected by the Disinterested Directors, that is experienced in matters of corporation law and shall include any person who, under the applicable standards of professional conduct then prevailing, would not have a conflict of interest in representing either the Corporation or the claimant in an action to determine the claimant’s rights under this By-Law.

(J) Any notice, request or other communication required or permitted to be given to the Corporation under this By-Law shall be in writing and either delivered in person or sent by telecopy, telex, telegram, overnight mail or courier service, or certified or registered mail, postage prepaid, return receipt requested, to the Secretary of the Corporation and shall be effective only upon receipt by the Secretary.

Section 2. Insurance. The Corporation may maintain insurance, at its expense, to protect itself and any current or former director, officer, employee or agent of the Corporation and any current or former director, officer, trustee, employee or agent of another corporation or of a partnership, joint venture, trust, or other enterprise, including any person who serves or served in any such capacity with respect to any employee benefit plan maintained or sponsored by the Corporation, against any expense, liability or loss, whether or not the Corporation would have the power to indemnify such person against such expense, liability or loss under the General Corporation Law of the State of Delaware.

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RLP 339