Exhibit 10.4

 

DEX MEDIA, INC.

 

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VALUE CREATION PROGRAM

 

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AWARD NOTICE

 

Joe Walsh

 

 

 

Dear Joe:

 

The purpose of this award notice (this “Award Notice”) is to inform you that you
have been granted an award (the “Award”) under the Dex Media, Inc. (the
“Company”) Value Creation Program (the “Plan) as of October 14, 2014 (the “Grant
Date”).  Capitalized terms not otherwise defined herein shall have the meanings
ascribed thereto under the Plan.

 

1.              Award Percentage.  The Award Percentage for the Award shall be
350,000 units, representing 50% of the Bonus Pool.

 

2.              Vesting.

 

(i)                                     General.  Subject to the remainder of
this Section 2, your Bonus Amount shall vest on December 31, 2017, subject to
your remaining continuously employed with the Company or any of its Affiliates
through such date.  In the event of the termination of your employment with the
Company of any of its Affiliates for any reason (such event, a “Termination”)
prior to December 31, 2017, your Award shall immediately expire and you shall
not be entitled to any further payments hereunder, except as expressly provided
in this Award Notice.

 

(ii)                                 Impact of Termination of Service. 
Notwithstanding the provisions of Section 4.4 of the Plan, in the event of your
Termination (a) by you for Good Reason, (b) by the Company or its Affiliates
other than for Cause, (c) due to your death or (d) due to your Disability (in
each case, an “Involuntary Termination”), the Performance Period with respect to
your Award shall end immediately upon the date of your Involuntary Termination,
you shall become immediately vested in your Bonus Amount, and you shall be
entitled to payment of the Bonus Amount in accordance with the terms of
Section 3 below.

 

(iii)                             Impact of Change in Control.  Notwithstanding
the provisions of Section 4.4 of the Plan, in the event that your service with
the Company or any of its Affiliates continues through a Change in Control that
occurs prior to December 31, 2017, the Performance Period with respect to your
Award shall end immediately upon the date of the Change in Control, you shall
become immediately

 

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vested in your Bonus Amount, and you shall be entitled to payment of the Bonus
Amount in accordance with the terms of Section 3 below.

 

3.              Time and Form of Payment of the Award.  To the extent earned and
vested in accordance with the provisions of the Plan and this Award Notice, the
Award shall be paid as follows:

 

(iv)                              General.  In the event that the Performance
Period ends on December 31, 2017, your Bonus Amount shall be paid in calendar
year 2018, as soon as reasonably practical following the completion of the
Company’s financial audit for calendar year 2017, but in any event prior to
March 15, 2018.

 

(v)                                 Impact of Termination of Service.  In the
event of your Involuntary Termination, your Bonus Amount shall be paid within
sixty (60) days following the date of your Involuntary Termination.

 

(vi)                              Impact of Change in Control.  In the event of
a Change in Control, your Bonus Amount shall be paid within ten (10) days of the
Change in Control.

 

4.              Entire Agreement.  This Award Notice and the Award hereunder are
subject in all respects to the terms and conditions of the Plan.  If and to the
extent that this Award Notice conflicts or is inconsistent with the terms and
conditions of the Plan, the Plan shall govern and control.  The Plan and this
Award Notice contain the entire understanding between you and the Company with
respect to the subject matter hereof, and supersede any and all prior agreements
between you and the Company with respect thereto.

 

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[END OF PAGE]

 

[SIGNATURE PAGE FOLLOWS]

 

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SIGNATURE PAGE TO AWARD NOTICE

 

 

DEX MEDIA, INC.

 

 

 

 

 

 

 

By:

/s/ Raymond R. Ferrell

 

 

 

 

Name:

Raymond R. Ferrell

 

 

 

 

Title:

General Counsel and Corporate Secretary

 

ACKNOWLEDGEMENT

 

I hereby acknowledge that (i) I have received and reviewed a copy of the Plan,
and (ii) this Award Notice, the Award and my participation in the Plan are
subject in all respects to the terms and conditions of the Plan.

 

 

/s/ Joe Walsh

 

Dated: October 14, 2014

Participant’s Signature

 

 

 

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