EX-10.9



 Exhibit 10.9 
  

					
		  	News Corporation 2013 Long-Term Incentive Plan	 	(Cash – US)
		  	PERFORMANCE STOCK UNIT TERMS AND CONDITIONS NOTICE	 	
		  	For the FY [    ] – FY [    ] Performance Cycle	 	

  

			
	 	 
	Award of Performance Stock Units	  	 News Corporation, a Delaware corporation (“News Corp”), has awarded you the target number
of cash settled performance stock units (“PSUs”) relating to shares of its Class A Common Stock, par value $0.01 per share (the “NWSA Shares”), set forth in your Summary of PSU Award (the “PSU Award”). The terms and
conditions of the PSU Award are set forth in this PSU Terms and Conditions Notice (the “PSU Terms and Conditions Notice”) and in the News Corporation 2013 Long-Term Incentive Plan, as amended and restated (the “2013 LTIP”).

 
 The terms of the 2013 LTIP are incorporated herein by reference. All capitalized terms
that are not defined in this PSU Terms and Conditions Notice have the meaning set forth in the 2013 LTIP. By accepting the PSU Award, you agree to all of the terms and conditions described in this PSU Terms and Conditions Notice and in the 2013
LTIP. You acknowledge that you have carefully reviewed the 2013 LTIP and agree that the terms of the 2013 LTIP will control in the case of any conflict between this PSU Terms and Conditions Notice and the 2013 LTIP.

 
 Subject to the terms and conditions set forth herein, PSUs represent the potential to
receive, at the end of the applicable performance period, the cash value of a number of NWSA Shares (the “PSU Program”).
  

Unless otherwise provided in this PSU Terms and Conditions Notice, the actual cash value of NWSA Shares awarded to you shall be from 0% to 200% of the target
PSUs awarded, as determined by the Compensation Committee of the News Corp Board of Directors or its designees (the “Committee”), based on the achievement of the Performance Objectives (herein defined).

 

		
	Conversion of Performance Stock Units	  	 Unless otherwise provided in this PSU Terms and Conditions Notice, your PSUs will convert to the cash
value of NWSA Shares on the vesting date after the end of the three-year performance period ending on [                    ] (the “Performance
Period”) with the cash value of NWSA Shares to be received, if any, determined by comparing News Corp’s actual results with objectives set by the Committee for the Performance Period (based on News Corp’s audited consolidated
financial statements for the Performance Period) (the “Performance Objectives”).
  

The percentage to which each of the Performance Objectives has been achieved corresponds to a payout multiplier. The payout multipliers for each of the
Performance Objectives are then averaged (using pre-set weightings for each) to create one overall payout multiplier, which is subject to an overall cap of 200%. The overall payout multiplier is then multiplied by the target number of PSUs to
determine the number of corresponding NWSA Shares for which you will be entitled to receive the cash value.
  

The Committee has set the Performance Objectives and the Committee will determine the achievement of the Performance Objectives based on the actual results at
the end of the Performance Period, and calculate the overall payout multiplier and the conversion of the PSUs into the cash value of NWSA Shares.
  

In all events, the Committee’s determination(s) will be binding.
  

As soon as is reasonably practicable following the vesting date set forth on the Summary of PSU Award, the cash value of NWSA Shares payable with respect to
the vested PSUs will be paid to you. Upon settlement, your PSUs shall be extinguished and such PSUs will no longer be considered to be held by you for any purpose.
  

		
	Withholding Taxes	  	 You agree, as a condition of the PSU Award, that any applicable Federal, state, local or foreign tax
or withholding payment that may be due as a result of vesting and/or payment of your PSUs shall be satisfied by News Corp or any Affiliate, as the case may be, by withholding such amounts from cash that would otherwise be paid to you under the PSU
Award.
  










			
	 	 
	Employment with News Corp	  	 Except as provided herein, your eligibility to receive the cash value of NWSA Shares is subject to
the condition that you remain employed by News Corp from the date hereof through the date on which the PSUs are paid out in the cash value of NWSA Shares, subject to the terms of your PSU Award and with the exceptions set forth below.

 
 Subject to the exceptions set forth below, in the event your employment is terminated for
any reason during the Performance Period or after the Performance Period and before the payout of your PSUs, you shall forfeit your PSU Award and neither you, nor your beneficiary or estate, shall be entitled to receive any payment under your PSU
Award.
  
 In the event your employment is terminated due to your Retirement or Permanent
Disability, and if you were employed beyond the last day of the first fiscal year of the applicable Performance Period, you will receive the cash value of NWSA Shares on the PSU vesting date after the end of the relevant Performance Period based on
the overall payout multiplier for the Performance Objectives.
  
 In the event of your
death, and if you were employed beyond the last day of the first fiscal year of the applicable Performance Period, your estate will receive the cash value of NWSA Shares as soon as practicable, based on the projected performance for the Performance
Objectives (at the determination of News Corp) for all PSU Program cycles with less than one year remaining in the Performance Period, and based on target level performance otherwise.

 
 In the event that your employment during the Performance Period transfers from one
business group, including corporate groups, which participates in the News Corp PSU Program to another business group that also participates in the News Corp PSU Program, you will remain eligible to receive payment under your PSU Award.

 
 If your business entity is merged with another entity within News Corp or is sold outside
of News Corp, the Committee may, in its sole discretion, make such adjustments to your PSU Award as it deems appropriate. All determinations that the Committee makes shall be conclusive and binding on all persons for all purposes. The Committee need
not treat all PSU awards in the same manner.
  

		
	Leaves of Absence	  	 For purposes of the PSU Award, your Service does not terminate when you go on a bona fide employee
leave of absence that was approved by News Corp or an Affiliate in writing, if the terms of the leave provide for continued Service crediting, or when continued Service crediting is required by applicable law. However, your Service will be treated
as terminating three months after you went on employee leave, unless your right to return to active work is guaranteed by law or by a contract. Your Service terminates in any event when the approved leave ends unless you immediately return to active
employee work.
  
 The Committee shall determine, in its sole discretion, which leaves
shall count for this purpose, and when your Service terminates for all purposes under the 2013 LTIP.
  

		
	Adjustments to News Corp Actual Results	  	 At the end of or during the Performance Period, as applicable, actual results for News Corp may be
adjusted at the sole discretion of the Committee as it deems appropriate to:
  

•    Exclude the effect of extraordinary, unusual and/or non-recurring items, discontinued
operations, significant acquisitions, and accounting charges or policy changes; and
  

•    Reflect such other facts as the Committee deems appropriate so as to reflect the
performance of the business group and not distort the calculation of the PSU Award.
  

All such determinations of the Committee shall be conclusive and binding on all persons for all purposes.

 



  

			
		 	FY [    ] – FY [    ] PSU Terms and Conditions Notice 2        










			
	 	 
	No Vested Right in Future Awards	  	 Participant acknowledges and agrees (by accepting the PSU Award and receiving this PSU Terms and
Conditions Notice) that the eligibility to receive PSUs is made on a fully discretionary basis by the Committee and that the PSU Award does not lead to a vested right to receive any cash value of NWSA Shares, any additional PSUs or other equity
incentive awards in the future.
  
 Further, the PSU Award set forth in the Summary of PSU
Award constitutes a non-recurring benefit and the terms of this PSU Terms and Conditions Notice are only applicable to the PSU Award distributed subject to this PSU Terms and Conditions Notice.

 

		
	Employment Agreements	  	 This PSU Terms and Conditions Notice shall not be applied or interpreted in a manner which would
decrease the rights held by, or the payments owing to, you under any employment agreement with News Corp and, if there is any conflict between the terms of such employment agreement and the terms hereof, the employment agreement shall control,
except with respect to the forfeiture and recoupment provisions set forth below which shall control.
  

		
	Forfeiture; Recoupment	  	 Notwithstanding anything to the contrary in this PSU Terms and Conditions Notice, Participant
acknowledges and agrees that the Committee shall have the right to cause Participant to forfeit any gain realized by Participant with respect to the PSU Award, as the Committee in its discretion shall determine, on account of actions taken by, or
failed to be taken by, Participant in violation or breach of or in conflict with any (i) employment agreement, (ii) non-competition agreement, (iii) agreement prohibiting solicitation of employees or clients of News Corp or any Affiliate, (iv)
confidentiality obligation with respect to News Corp or any Affiliate, (v) News Corp policy or procedure including, without limitation, News Corp’s Standards of Business Conduct, (vi) other agreement or (vii) any other obligation of Participant
to News Corp or any Affiliate.
  

		
	Confidentiality	  	 You acknowledge that you have read and understand News Corp’s policies on confidentiality as set
forth in the News Corp Standards of Business Conduct and the News Corp Insider Trading and Confidentiality Policy (collectively, the “Confidentiality Policies”) and hereby agree that during the course of your employment with News Corp and
any time after your employment with News Corp is terminated, you will continue to abide by the terms of the Confidentiality Policies, including with respect to any materials or information you receive in connection with your PSU Award.

 

		
	Retention and Other Rights	  	 The PSU Award does not give you the right to be retained or employed by News Corp or any Affiliate in
any capacity for any given period or upon any specific terms of employment.
  
 You waive
any and all rights to compensation or damages for the termination of your office or employment with News Corp or any Affiliate for any reason (including unlawful termination of employment) insofar as those rights arise from you ceasing to have
rights in relation to the PSU Award as a result of that termination or from the loss or diminution in value of such rights.
  

		
	Stockholder Rights	  	 You, your estate or heirs, do not have and will not have, any of the rights of a stockholder of News
Corp with respect to the PSUs granted to you pursuant to this PSU Award.
  

		
	PSU Award Transferability	  	 Your PSUs may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated,
whether by operation of law or otherwise, nor may your PSUs be made subject to execution, attachment or similar process.
  



  

			
		 	FY [    ] – FY [    ] PSU Terms and Conditions Notice 3        










			
	 	 
	Applicable Law and Forum	  	 This PSU Terms and Conditions Notice will be interpreted and enforced under the laws of the State of
New York, other than any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this PSU Terms and Conditions Notice to the substantive law of another jurisdiction.

 
 By accepting the PSU Award, you expressly consent to the exclusive jurisdiction of the
federal or state courts serving New York, New York for all lawsuits and actions arising out of or relating to this PSU Terms and Conditions Notice, and you expressly waive any defense that such courts lack personal jurisdiction over you. All such
lawsuits and actions shall be tried in the federal or state courts serving New York, New York to the exclusion of all other courts.
  

		
	Severability	  	 In the event that any provision of this PSU Terms and Conditions Notice shall be held illegal or
invalid for any reason, the illegality or invalidity shall not affect the remaining parts of this PSU Terms and Conditions Notice, and this PSU Terms and Conditions Notice shall be construed and enforced as if the illegal or invalid provision had
not been included.
  

		
	Data Privacy	  	 News Corp may collect, hold, use and process personal data about you in order to administer the 2013
LTIP. Such data includes, but are not limited to, the information about you contained in the Summary of PSU Award, other personal and financial data about you, such as your Social Security or tax identification number, equity grant number, home
address, business address and other contact information, payroll information and any other information that might be deemed appropriate by News Corp to facilitate the administration of the 2013 LTIP (collectively, “Personal Data”).

 
 News Corp will use reasonable administrative, technical and physical measures to safeguard
your Personal Data in its possession against loss, theft and unauthorized use, disclosure or modification. News Corp will retain Personal Data for no longer than is necessary for sound business and record retention purposes. You have a right to
access your Personal Data and a right to ask for the correction or deletion of any inaccurate data held by News Corp concerning yourself. If you wish to exercise those rights please contact your local Human Resources representative and the News Corp
Equity Plans Group.
  
 News Corp may make your Personal Data available to other parties,
such as accountants, auditors, lawyers and other outside professional advisors, and to service providers that assist News Corp in the administration of the 2013 LTIP (collectively, “Service Providers”). News Corp takes steps to ensure that
Service Providers protect the confidentiality and security of your Personal Data.
  
 By
accepting the PSU Award, you freely give unambiguous consent to News Corp to collect, hold, use and process your Personal Data and to make your Personal Data available to Service Providers for the purpose of administering the 2013 LTIP on the terms
set out above.
  

		
	Consent to Electronic Delivery	  	 News Corp may choose to deliver certain statutory materials relating to the 2013 LTIP in electronic
form. By accepting the PSU Award, you agree that News Corp may deliver the 2013 LTIP, the 2013 LTIP prospectus and News Corp’s annual report (Form 10-K) to you in an electronic format. If, at any time, you would prefer to receive paper copies
of these documents, as you are entitled to receive, News Corp would be pleased to provide paper copies. Please contact News Corp, Equity Plan Administration, 1211 Avenue of the Americas, New York, NY 10036 or send an email to
EquityPlanAdmin@newscorp.com to request paper copies of these documents.
  

		
	2013 LTIP Materials	  	 Copies of the 2013 LTIP, the 2013 LTIP prospectus, and the annual report are available on the Morgan
Stanley Benefit Access website at https://www.benefitaccess.com.
  



  

			
		 	FY [    ] – FY [    ] PSU Terms and Conditions Notice 4        










			
	 	 
	Section 409A	  	 It is intended that this PSU Terms and Conditions Notice comply with Section 409A to the extent
subject thereto, and, accordingly, to the maximum extent permitted, this PSU Terms and Conditions Notice will be interpreted and administered to be in compliance with Section 409A. To the extent that News Corp determines that you would be subject to
the additional taxes or penalties imposed on certain nonqualified deferred compensation plans pursuant to Section 409A as a result of any provision of this PSU Terms and Conditions Notice, such provision shall be deemed amended to the minimum extent
necessary to avoid application of such additional taxes or penalties. The nature of any such amendment shall be determined by News Corp.
  

Notwithstanding anything to the contrary in this PSU Terms and Conditions Notice or the 2013 LTIP, to the extent required to avoid accelerated taxation and
penalties under Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the PSU Award during the six-month period immediately following your “separation from service” (as defined for
purposes of Section 409A, a “Separation from Service”) will instead be paid on the first payroll date after the six-month anniversary of your Separation from Service (or your death, if earlier). Notwithstanding anything to the contrary in
this PSU Terms and Conditions Notice, for purposes of any provision of this PSU Terms and Conditions Notice providing for the settlement of any NWSA Shares upon or following a termination of employment or a termination of Service that are considered
“deferred compensation” under Section 409A, references to your “termination of employment” or “termination of Service” (and corollary terms) with News Corp shall be construed to refer to your Separation from
Service.
  



  

			
		 	FY [    ] – FY [    ] PSU Terms and Conditions Notice 5