EX-10.5



 Exhibit 10.5 

Tribune Publishing Company 

2014 Omnibus Incentive Plan 
 1.
Purpose. The purpose of the Tribune Publishing Company 2014 Omnibus Incentive Plan is to provide a means through which the Company and its Affiliates may attract and retain key personnel, including the services of experienced and
knowledgeable non-executive directors, and to provide a means whereby directors, officers, employees, consultants, and advisors (and prospective directors, officers, employees, consultants, and advisors) of the Company and its Affiliates can acquire
and maintain an equity interest in the Company, or be paid incentive compensation, including but not limited to incentive compensation measured by reference to the value of Common Stock or the results of operations of the Company, thereby
strengthening their commitment to the welfare of the Company and its Affiliates and aligning their interests with those of the Company’s shareholders. 

2. Definitions. The following definitions shall be applicable throughout the Plan. 

“Adjusted EBITDA” has the meaning given such term in Section 12(d). 

“Affiliate” means (i) any person or entity that, directly or indirectly, controls, is controlled by, or is under
common control with the Company or (ii) to the extent provided by the Committee, any person or entity in which the Company has a significant interest. The term “control” (including, with correlative meaning, the terms
“controlled by” and “under common control with”), as applied to any person or entity, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person or
entity, whether through the ownership of voting or other securities, by contract, or otherwise. 
 “Alternative Award” has
the meaning given in Section 15(a). 
 “Applicable Law” means the requirements relating to the administration of stock
option, restricted stock, restricted stock unit and other equity-based compensation plan sunder U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed
or quoted and the applicable laws of any other country or jurisdiction where Awards are granted under the Plan. 
 “ASC
718” has the meaning given such term in Section 14. 
 “Award” means, individually or collectively, an
Option, a Stock Appreciation Right, Restricted Stock, a Restricted Stock Unit, Performance Share, Performance Unit, Dividend Equivalent, Cash Award or Other Stock-Based Award granted under the Plan including an Award combining two or more types of
Awards into a single grant. 
 “Award Agreement” means either (i) a written agreement entered into by the
Company or an Affiliate and a Participant setting forth the terms and conditions applicable to Awards granted under the Plan, or (ii) a written statement issued by the Company or an Affiliate to a Participant describing the terms and
provisions of such Award. In either case, such writing may take electronic form. 







 “Beneficial Owner” (including, with correlative meaning, the term
“Beneficial Ownership”) has the meaning set forth in Rule 13d-3 promulgated under Section 13 of the Exchange Act. 

“Board” means the board of directors of the Company. 

“Cash Award” means an Award granted under Section 12, the value of which is denominated in cash as determined by the
Committee and which is not any other form of Award described in the Plan. 
 “Cause” means, in the case of a particular
Award, unless the applicable Award Agreement states otherwise, (i) circumstances providing the Company or an Affiliate the ability to terminate a Participant’s employment or service with “cause,” as defined in any
employment, consulting, change in control, severance, or any other agreement between the Participant and the Company or an Affiliate in effect at the time of such termination or (ii) in the absence of any such employment, consulting,
change in control, severance, or other agreement (or the absence of any definition of “cause” or term of similar meaning therein), (A) the Participant’s failure to follow the lawful instructions of the Board or his direct
superiors, in each case other than as a result of his incapacity due to physical or mental illness or injury, which failure has resulted in, or could reasonably be expected to result in, harm (whether financial, reputational, or otherwise) to the
Company or an Affiliate, (B) the Participant’s engaging in conduct harmful (whether financially, reputationally, or otherwise) to the Company or an Affiliate, (C) the Participant’s conviction of, or plea of guilty
or no contest to, a felony or any crime involving as a material element fraud or dishonesty, (D) the willful misconduct or gross neglect of the Participant that has resulted in or could reasonably be expected to result in harm (whether
financial, reputational, or otherwise) to the Company or an Affiliate, (E) the willful violation by the Participant of the written policies of the Company or any of its Affiliates that has resulted in, or could reasonably be expected to
result in, harm (whether financial, reputational, or otherwise) to the Company or an Affiliate, (F) the Participant’s fraud or misappropriation, embezzlement, or misuse of funds or property belonging to the Company (other than good
faith expense account disputes), (G) the Participant’s act of personal dishonesty involving personal profit in connection with the Participant’s employment or service with the Company or an Affiliate, (H) the
Participant’s material breach of any Award Agreement, employment, consulting or severance agreement or noncompetition, nonsolicitation or nondisclosure agreement to which the Participant is a party or is bound, or (I) the willful
breach by the Participant of fiduciary duty owed to the Company or an Affiliate; provided, however, that the Participant shall be provided a 10-day period to cure any of the events or occurrences described in the immediately preceding
clause (A) hereof to the extent capable of cure during such 10-day period. Any determination of whether Cause exists shall be made by the Committee in its sole discretion. 

“Change in Control” shall, in the case of a particular Award, unless the applicable Award Agreement (or any employment,
consulting, change in control, severance, or other agreement between a Participant and the Company or an Affiliate) states otherwise or contains a different definition of “Change in Control,” be deemed to occur upon the first to occur of
any of the following events after the Distribution Date: 

  
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 (i) the acquisition, through a transaction or series of transactions (other than through a
public offering of the Common Stock under the Securities Act or similar law or regulation governing the offering and sale of securities in a jurisdiction other than the United States), by any Person of Beneficial Ownership of more than 35 % (on
a fully diluted basis) of either (A) the then-outstanding shares of common stock of the Company taking into account as outstanding for this purpose such Common Stock issuable upon the exercise of options or warrants, the conversion of
convertible stock or debt, and the exercise of any similar right to acquire such Common Stock (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company
entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); 
 (ii) the date
upon which individuals who, during any consecutive 24-month period, constitute the Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board; provided that any person becoming a
director subsequent to the date hereof whose election or nomination for election was approved by a vote of at least two thirds of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the
Company in which such person is named as a nominee for director, without written objection to such nomination) shall be deemed an Incumbent Director; provided further, however, that no individual initially elected or nominated as a
director of the Company as a result of an actual or threatened election contest, as such terms are used in Rule 14a-12 of Regulation 14A promulgated under the Exchange Act, with respect to directors or as a result of any other actual or threatened
solicitation of proxies or consents by or on behalf of any person other than the Board shall be deemed an Incumbent Director; 

(iii) the approval by the shareholders of the Company of a plan of complete dissolution or liquidation of the Company; or 

(iv) the consummation of a reorganization, recapitalization, merger, amalgamation, consolidation, statutory share exchange, or similar
form of corporate transaction involving the Company (a “Business Combination”), or sale, transfer, or other disposition of all or substantially all of the business or assets of the Company to an entity that is not an Affiliate of
the Company (a “Sale”), that in each case requires the approval of the Company’s stockholders (whether for such Business Combination or Sale or the issuance of securities in such Business Combination or Sale), unless
immediately following such Business Combination or Sale, (A) 50% or more of the total voting power of (x) the entity resulting from such Business Combination or the entity that has acquired all or substantially all of the
business or assets of the Company in a Sale (in either case, the “Surviving Company”), or (y) if a Sale, the ultimate parent entity that directly or indirectly has Beneficial Ownership of sufficient voting securities
eligible to elect a majority of the board of directors (or the analogous governing body) of the Surviving Company (the “Parent Company”), is represented by the Outstanding Company Voting Securities that were outstanding immediately
prior to such Business Combination or Sale (or, if applicable, is represented by shares into which the Outstanding Company Voting Securities were converted or exchanged pursuant to such Business Combination or Sale), (B) no Person is or
becomes the beneficial owner, directly or indirectly, of more than 50% of the total voting power of the outstanding voting securities eligible to elect members of the board of directors (or the analogous governing body) of the Surviving Company (if
a Business Combination) or the Parent Company (if a Sale), and (C) at least a majority of the members of the board of directors (or the 

  
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analogous governing body) of the of the Surviving Company (if a Business Combination) or the Parent Company (if a Sale) following the consummation of the Business Combination or Sale were Board
members at the time of the Board’s approval of the execution of the definitive agreement providing for such Business Combination or Sale; 
 In
addition, notwithstanding the foregoing, a “Change in Control” shall not be deemed to occur if the Company files for bankruptcy, liquidation or reorganization under the United States Bankruptcy Code or as a result of any restructuring that
occurs as a result of any such proceeding. 
 “Change in Control Price” means the price per share of Common Stock offered
in conjunction with any transaction resulting in a Change in Control. If any part of the offered price is payable other than in cash, or if more than one price per share of Common Stock is paid in conjunction with such transaction, the Change in
Control Price shall be determined in good faith by the Committee as constituted immediately prior to the Change in Control. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto. Reference in the
Plan to any section of the Code shall be deemed to include any regulations and other interpretative guidance under such section, and any amendments or successor provisions to such section, regulations, or guidance. 

“Committee” means the Compensation Committee of the Board or such other committee, if any, as be appointed or designated by
the Board to administer all or any portion of the Plan under Section 4(a). Notwithstanding the foregoing, at any time prior to the time at which a class of the capital stock of the Company is registered under Section 12 of the Act, the
Committee shall mean the Compensation Committee of the Board of Directors of the Tribune Company. 
 “Common Stock” means
the common stock, par value $0.01 per share, of the Company. 
 “Company” means the Tribune Publishing Company, a Delaware
corporation, and any successor thereto. 
 “Data” has the meaning given such term in Section 17(e). 

“Date of Grant” means the date on which the granting of an Award is authorized or such other date as may be specified in such
authorization or, if there is no such date, the date indicated on the applicable Award Agreement. 
 “Designated Foreign
Subsidiary” means an Affiliate organized under the laws of any jurisdiction or country other than the United States of America that may be designated by the Board or the Committee from time to time. 

“Disability” means, in the case of a particular Award, unless the applicable Award Agreement states otherwise,
(i) circumstances providing the Company or an Affiliate the ability to terminate a Participant’s employment or service on account of “disability,” as defined in any employment, consulting, change in control, severance, or
any other agreement between the 

  
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Participant and the Company or an Affiliate in effect at the time of such termination or (ii) in the absence of any such employment, consulting, change in control, severance, or other
agreement (or the absence of any definition of “disability” or term of similar meaning therein), a Participant’s total disability meeting any of the following criteria and (to the extent required by Section 409A of the Code)
determined in a manner consistent with Section 409A of the Code: (A) the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be
expected to result in death or can be expected to last for a continuous period of not less than 12 months; (B) the Participant is determined to be totally disabled by the Social Security Administration, or (C) the Participant
is determined to be disabled in accordance with a disability insurance program maintained by the Company. 
 “Distribution
Date” has the meaning given in the Separation Agreement. 
 “EBITDA” has the meaning given in Section 12(d).

 “Effective Date” has the meaning given in Section 3. 

“Eligible Person” means any (i) individual employed by the Company or an Affiliate who satisfies all of the
requirements of Section 6; provided, however, that no such employee covered by a collective bargaining agreement shall be an Eligible Person unless such eligibility is set forth in such collective bargaining agreement or in an
agreement or instrument relating thereto, (ii) director or officer of the Company or an Affiliate, (iii) consultant or advisor to the Company or an Affiliate who may be offered securities registrable on Form S-8 under the
Securities Act, and (iv) any prospective employee, director, officer, consultant, or advisor who has accepted an offer of employment or consultancy from the Company or its Affiliates (and would satisfy the provisions of clauses
(i) through (iii) above once he begins employment with or providing services to the Company or its Affiliates); provided that no such prospective service provider may receive payment under or exercise any right relating to an Award
hereunder until such person has commenced services with the Company or its Affiliates. Notwithstanding the foregoing, (x) Incentive Stock Options may only be granted to those individuals who satisfy clause (i) above, and (y) with
respect to any Award that is (A) an Incentive Stock Option or (B) is intended to qualify as a “stock right” that does not provide for a “deferral of compensation” within the meaning of Section 409A of the Code, the
term Affiliate as used in this definition of Eligible Person shall include only those corporations or other entities in the unbroken chain of corporations or other entities beginning with the Company where each of the corporations in the unbroken
chain other than the last corporation owns stock possessing at least 50% or more of the total combined voting power of all classes of stock in one of the other corporations in the chain. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto. Reference in the Plan to any
section of (or rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations, and other interpretative guidance under such section or rule, and any amendments or successor provisions to such section, rules, regulations,
or guidance. 
 “Exercise Price” has the meaning given such term in Section 8. 

  
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 “Fair Market Value” means, on a given date with respect to a share of Common
Stock, 
 (i) if the Common Stock is listed on a national securities exchange, the closing sales price of the Common Stock reported on the
primary exchange on which the Common Stock is listed and traded on such date, or if there is no such sale on that date, then on the last preceding date on which such a sale was reported, 

(ii) if the Common Stock is not listed on any national securities exchange but is quoted in an inter-dealer quotation system on a last
sale basis, the average between the closing bid price and ask price reported on such date, or if there is no such sale on that date, then on the last preceding date on which a sale was reported, or 

(iii) if the Common Stock is not listed on a national securities exchange or quoted in an inter-dealer quotation system on a last sale
basis, or if the Committee determines in its sole discretion that the shares of Common Stock are too thinly traded for Fair Market Value to be determined pursuant to clause (i) or (ii), the amount determined by the Committee in good faith (and,
with respect to setting the Exercise Price or Strike Price of an Option or SAR, respectively, that is intended to qualify as a “stock right” that does not provide for a “deferral of compensation” within the meaning of
Section 409A of the Code, in a manner consistent with Section 409A of the Code) to be the fair market value of the Common Stock. 

“Immediate Family Members” shall have the meaning set forth in Section 17(a)(ii). 

“Incentive Stock Option” means an Option which qualifies under Section 422 of the Code and is expressly designated as an
Incentive Stock Option in the Award Agreement. 
 “Indemnifiable Person” shall have the meaning set forth in
Section 4(f). 
 “Non-Qualified Stock Option” means an Option which is not an Incentive Stock Option. 

“Option” means an option to purchase a share of Common Stock granted under Section 8. The term “Option”
includes both an Incentive Stock Option and a Non-Qualified Stock Option. 
 “Option Period” has the meaning given such
term in Section 8(d). 
 “Other Stock-Based Award” means an Award granted pursuant to Section 13. 

“Participant” means an Eligible Person who has been granted an Award under the Plan or, if applicable, such other person or
entity that holds an Award granted hereunder as a Permitted Transferee. A person shall not cease to be a Participant in the case of (a) any leave of absence approved by the Company or (b) transfers between locations of the Company or
between the Company, any of its Affiliates, or any successor to the foregoing; provided, however, that for purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such
leave is guaranteed by statute or contract. If 

  
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reemployment upon expiration of a leave of absence approved by the Company or an Affiliate is not so guaranteed, the employment relationship shall be deemed to have terminated on the first day
immediately following such three (3) month period, and such Incentive Stock Option held by the Participant shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Non-Qualified Stock Option on the first
day immediately following a three (3) month period from the date the employment relationship is deemed terminated. 

“Performance Award” means Performance Shares, Performance Units and all other Awards, including Cash Awards, that vest (in
whole or in part) upon the achievement of specified Performance Goals. 
 “Performance Cycle” means the period of time
selected by the Committee during which performance is measured for the purpose of determining the extent to which a Performance Award has been earned or vested. 

“Performance Goals” means the objectives established by the Committee for a Performance Cycle pursuant to Section 12 for
the purpose of determining the extent to which a Performance Award has been earned or vested. 
 “Performance Share” means
an Award of a share of Common Stock granted pursuant to Section 12 that is subject to the achievement, in whole or in part, of applicable Performance Goals and any other specified restrictions. 

“Performance Unit” means an unfunded and unsecured promise granted pursuant to Section 12 to deliver a share of Common
Stock, cash, other securities, or other property, subject to the achievement, in whole or in part, of applicable Performance Goals and any other specified restrictions. 

“Permitted Transferee” has the meaning given in Section 17(a)(ii). 

“Person” has the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d)
thereof, except that such term shall not include (i) the Company or any of its subsidiaries, (ii) any employee benefit plan of the Company or any of its Affiliates or any related trust, trustee, or other fiduciary holding
securities thereunder, (iii) an underwriter temporarily holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially
the same proportions as their ownership of Common Stock of the Company. 
 “Plan” means this Tribune Publishing Company
2014 Omnibus Incentive Plan, as amended from time to time. 
 “Released Unit” shall have the meaning assigned to it in
Section 11(c)(ii). 
 “Restricted Period” means the period of time determined by the Committee during which Restricted
Stock or any Restricted Stock Units or a portion thereof is subject to forfeiture and/or restrictions. Unless the Committee shall establish a different period, the Restricted Period for any applicable Award shall begin on the date of grant and end
on the vesting date applicable to such Award (or a stated portion of such Award). 

  
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 “Restricted Stock” means an Award of shares of Common Stock granted pursuant to
Section 10 that is subject to certain specified restrictions (including, without limitation, a requirement that the Participant remain continuously employed or provide continuous services and restrictions on transferability for a specified
period of time). 
 “Restricted Stock Unit” means an unfunded and unsecured promise granted pursuant to Section 10 to
deliver a share of Common Stock, cash, other securities, or other property, subject to certain restrictions (including, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a
specified period of time). 
 “Retirement” means, unless another definition is incorporated into the applicable Award
Agreement, a termination of the Participant’s employment or service with the Company and Affiliates at or after the Participant’s normal retirement age or earlier retirement date established under any qualified retirement plan maintained
by the Company or Affiliate; provided that if a Participant is a party to an employment, consulting or individual severance agreement with the Company or an Affiliate that defines the term “Retirement” then, with respect to any
Award made to such Participant, “Retirement” shall have the meaning set forth in such employment, consulting or severance agreement. 

“SAR Period” has the meaning given such term in Section 9(c)(i). 

“Securities Act” means the Securities Act of 1933, as amended, and any successor thereto. Reference in the Plan to any
section of (or rule promulgated under) the Securities Act shall be deemed to include any rules, regulations, and other interpretative guidance under such section or rule, and any amendments or successor provisions to such section, rules,
regulations, or guidance. 
 “Separation Agreement” means that certain Separation and Distribution Agreement, dated as of
[•], 2014, between Tribune Company and the Company. 
 “Stock Appreciation Right” or “SAR” means an
Award granted pursuant to Section 9 of the right to receive a payment from the Company in cash and/or shares of Common Stock equal to the product of (i) the excess, if any, of the Fair Market Value of one share of Common Stock on
the exercise date over the Strike Price, multiplied by (ii) a stated number of shares of Common Stock. 
 “Strike
Price” has the meaning given such term in Section 9(b). 
 “Substitute Award” has the meaning given such term
in Section 5(e). 
 “Sub-Plans” has the meaning given such term in Section 4(d). 

3. Effective Date; Duration. The effective date of the Plan is the date it was adopted by the Company’s Board of Directors and the Tribune Company,
as the Company’s then sole shareholder (the “Effective Date”). The expiration date of the Plan, on and after which date no Awards may be granted hereunder, shall be the tenth anniversary of the Effective Date; provided,
however, that such expiration shall not affect Awards then outstanding, and the terms and 

  
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conditions of the Plan shall continue to apply to such Awards. Following the Effective Date, the Plan shall be approved by a majority of the votes cast at a duly constituted meeting of the
shareholders of the Company or by a duly effective written consent of the shareholders in lieu thereof. 
 4. Administration. 

(a) General. The Plan shall be administered by the Committee. To the extent required to comply with the provisions of Rule 16b-3
promulgated under the Exchange Act (if the Board is not acting as the Committee under the Plan) or necessary to obtain the exception for performance-based compensation under Section 162(m) of the Code, as applicable, it is intended that each
member of the Committee shall, at the time he or she takes any action with respect to an Award under the Plan, be (i) a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act and (ii) an “outside director” within the meaning of Section 162(m) of the Code and (iii) an “independent director” under the rules of the
NYSE or any other securities exchange or inter-dealer quotation system on which the Common Stock is listed or quoted, or a person meeting any similar requirement under any successor rule or regulation. However, the fact that a Committee member shall
fail to satisfy any such requirement shall not invalidate any Award granted by the Committee that is otherwise validly granted under the Plan. A majority of the members of the Committee shall constitute a quorum. The acts of a majority of the
members present at any meeting at which a quorum is present or acts approved in writing by a majority of the Committee shall be deemed the acts of the Committee. 

(b) Authority of the Committee. Subject to the provisions of the Plan and Applicable Law, the Committee shall have sole and plenary
authority, in addition to other express powers and authorizations conferred on the Committee by the Plan, to: 
 (i) designate Participants;

 (ii) determine the type or types of Awards to be granted to a Participant; 

(iii) determine the number of shares of Common Stock to be covered by, or with respect to which payments, rights, or other matters are to be
calculated in connection with, Awards; 
 (iv) determine the terms and conditions of any Award; 

(v) determine whether, to what extent, and under what circumstances Awards may be settled or exercised in cash, shares of Common Stock, other
securities, other Awards, or other property, or canceled, forfeited, or suspended, and the method or methods by which Awards may be settled, exercised, canceled, forfeited, or suspended; 

(vi) determine whether, to what extent, and under what circumstances the delivery of cash, Common Stock, other securities, other Awards or
other property and other amounts payable with respect to an Award shall be deferred either automatically or at the election of the Participant or of the Committee; 

  
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 (vii) determine all matters and questions related to the termination of employment or service of
a Participant with respect to any Award granted to him under the Plan, including, but not limited to, all questions of whether a termination of employment or service of a particular Participant resulted from discharge for Cause; 

(viii) approve forms of Award Agreements for use under the Plan, which need not be identical for each Participant; 

(ix) interpret, administer, reconcile any inconsistency in, correct any defect in, and supply any omission in the Plan and any instrument or
agreement relating to, or Award granted under, the Plan; 
 (x) establish, amend, suspend, or waive any rules and regulations and appoint
such agents as the Committee shall deem appropriate for the proper administration of the Plan; 
 (xi) suspend or accelerate the vesting,
delivery, or exercisability of, or the payment for or lapse of restrictions on, or waive any condition in respect of, Awards; and 
 (xii)
make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. 

Notwithstanding the foregoing, without the express approval of shareholders (or as may otherwise be expressly permitted in the context of a corporate
transaction within the meaning of Section 424 of the Code or pursuant to the authority granted under Section 14 or Section 15), the Committee may not cancel any outstanding Option or SAR and replace it with a new Option or SAR (with a
lower Exercise Price or Strike Price, as the case may be) or other Award or cash in a manner that would either (A) be reportable on the Company’s proxy statement as an Option that has been “repriced” (as such term is used
in Item 402 of Regulation S-K promulgated under the Exchange Act) or (B) result in any “repricing” for financial statement reporting purposes (or otherwise cause the Award to fail to qualify for equity accounting
treatment), and (iii) the Committee may not take any other action that is considered a “repricing” for purposes of the shareholder approval rules and regulations of the securities exchange or inter-dealer quotation system on
which the Common Stock is listed or quoted, if any. 
 (c) Allocation and Delegation of Duties. Except to the extent prohibited by
Applicable Law or the applicable rules and regulations of the securities exchange or inter-dealer quotation system on which the Common Stock is listed or quoted, if any, the Committee may allocate all or any portion of its responsibilities and
powers to any one or more of its members and, other than with respect to Awards to officers or directors of the Company subject to the reporting requirements of Section 16(a) of the Exchange Act, may delegate all or any part of its
responsibilities and powers to any person or persons selected by it, including the authority to act on behalf of the Committee with respect to any matter, right, obligation, or election that is the responsibility of or that is allocated to the
Committee. 
 (d) Participants Based Outside the United States. The Committee shall have the authority to amend the Plan (including by
the adoption of appendices or separate sub-plans (“Sub-Plans”) that permit offerings of grants to employees of certain Designated Foreign 

  
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Subsidiaries) and the terms and conditions relating to an Award to the extent necessary to permit participation in the Plan by Eligible Persons who are located outside of the United States on
terms and conditions comparable to those afforded to Eligible Persons located within the United States; provided, however, that such offerings shall comply with local laws applicable to offerings in such foreign jurisdictions and no
such action shall be taken without shareholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable to the Plan or any such Sub-Plan. The Sub-Plans shall be operated and administered separately and
independently from the Plan, but shares of Common Stock subject to awards granted under the Sub-Plans shall be counted against the total number of shares of Common Stock authorized to be issued under Section 5 of the Plan. 

(e) Binding Nature of Committee Determinations. Unless otherwise expressly provided in the Plan, all designations, determinations,
interpretations, and other decisions under or with respect to the Plan or any Award or any documents evidencing Awards granted pursuant to the Plan shall be within the sole discretion of the Committee, may be made at any time, and shall be final,
conclusive, and binding upon all persons or entities, including, without limitation, the Company, each Affiliate, each Participant, each holder or beneficiary of any Award, and each shareholder of the Company. 

(f) No Liability of Committee Members and Delegates. No member of the Board or the Committee or any employee or agent of the Company
(each such person, an “Indemnifiable Person”) shall be liable for any act, omission, interpretation, construction or determination made with respect to the Plan or any Award hereunder (unless constituting fraud or a willful criminal
act or omission). Each Indemnifiable Person shall be indemnified and held harmless by the Company against and from all losses, costs, liabilities, and expenses (including attorneys’ fees) that may be imposed upon or incurred by such
Indemnifiable Person in connection with or resulting from any claim, action, suit, or proceeding to which such Indemnifiable Person may be a party or in which such Indemnifiable Person may be involved by reason of any action taken or omitted to be
taken or determination made under the Plan or any Award Agreement and against and from any and all amounts paid by such Indemnifiable Person with the Company’s approval (not to be unreasonably withheld) in settlement thereof, or paid by such
Indemnifiable Person in satisfaction of any judgment in any such action, suit, or proceeding against such Indemnifiable Person, and the Company shall advance to such Indemnifiable Person any such expenses promptly upon written request (which request
shall include an undertaking by the Indemnifiable Person to repay the amount of such advance if the amount of any such advance exceeds such Indemnifiable Person’s actual expenses or if it shall ultimately be determined as provided below that
the Indemnifiable Person is not entitled to be indemnified); provided, however, that the Company shall have the right, at its own expense, to assume and defend any such action, suit, or proceeding, and once the Company gives notice of
its intent to assume the defense, the Company shall have sole control over such defense with counsel of the Company’s choice. The foregoing right of indemnification shall not be available to an Indemnifiable Person to the extent that a final
judgment or other final adjudication (in either case not subject to further appeal) binding upon such Indemnifiable Person determines that the acts or omissions or determinations of such Indemnifiable Person giving rise to the indemnification claim
resulted from such Indemnifiable Person’s fraud or willful criminal act or omission or that such right of indemnification is otherwise prohibited by Applicable Law or by the Company’s Certificate of Incorporation or Bylaws. The foregoing
right of indemnification shall not be exclusive of or otherwise supersede 

  
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any other rights of indemnification to which such Indemnifiable Persons may be entitled as a matter of law or under the Company’s Certificate of Incorporation or Bylaws, an individual
indemnification agreement or contract, or otherwise, or any other power that the Company may have to indemnify or hold harmless such Indemnifiable Persons. 

(g) Residual Board Authority. Notwithstanding anything to the contrary contained in the Plan, the Board may, in its sole discretion, at
any time and from time to time, grant Awards and administer the Plan with respect to such Awards. Any such actions by the Board shall be subject to the applicable rules and regulations of the securities exchange or inter-dealer quotation system on
which the Common Stock is listed or quoted, if any. In any such case, the Board shall have all the authority granted to the Committee or to any other Person under the Plan. 

5. Grant of Awards; Shares Subject to the Plan; Limitations. 

(a) General. The Committee may, from time to time, grant one or more Awards to one or more Eligible Persons. 

(b) Shares Available for Delivery. Subject to Section 14 and Section 5(e), the aggregate number of shares of Common Stock that
may be issued under the Plan is [•], all of which may be issued in the form of Incentive Stock Options under the Plan.1 For the avoidance of doubt, each share of Common Stock underlying and
issued in settlement of an Award hereunder shall reduce the share reserve by one share. 
 (c) Share Counting Rules. Shares of Common
Stock shall be deemed to have been used in settlement of Awards whether or not they are actually delivered; provided, however, that if the Fair Market Value equivalent of such shares is paid in cash, such shares shall again become
available for other Awards under the Plan. In addition, shares of Common Stock issued upon exercise, vesting, or settlement of an Award, or shares of Common Stock owned by a Participant, in either case that are surrendered or tendered to the Company
(either directly or by means of attestation) in payment of the Exercise Price or Strike Price of an Award or any taxes required to be withheld in respect of an Award, in each case in accordance with the terms and conditions of the Plan and any
applicable Award Agreement, such surrendered or tendered shares shall again become available for other Awards under the Plan. In accordance with (and without limitation upon) the preceding sentence, if and to the extent that an Award under the Plan
expires, terminates, or is canceled or forfeited for any reason whatsoever, including if shares are not issued on the settlement of Awards, without the Participant’s having received any benefit therefrom, the shares covered by such Award shall
again become available for other Awards under the Plan. For purposes of the foregoing sentence, a Participant shall not be deemed to have received any “benefit” (i) in the case of forfeited Restricted Stock by reason of having enjoyed
voting rights and dividend rights prior to the date of forfeiture or (ii) in the case of an Award canceled by reason of a new Award being granted in substitution therefor. 

(d) Source of Shares for Delivery. Shares of Common Stock delivered by the Company in settlement of Awards may be authorized and
unissued shares, shares held in the treasury of the Company, shares purchased on the open market or by private purchase, or a combination of the foregoing. 
  

 

	1 	Note to Draft: The maximum number of shares available to be issued under the Plan will equal 10% of the outstanding shares of the Company immediately after giving effect to the spin-off.



  
 12 








 (e) Substitute Awards. In connection with a corporate transaction (as defined for purposes
of Section 424 of the Code), the Committee is expressly authorized to grant awards in replacement or substitution of awards in respect of the equity of the Tribune Company or any entity that directly or indirectly acquired by the Company or
with which the Company combines (“Substitute Awards”). Except to the extent that any Substitute Awards are granted in replacement of awards in respect of the equity of the Tribune Company, the number of shares of Common Stock
underlying any Substitute Awards shall not be counted against the aggregate number of shares of Common Stock available for Awards under the Plan. Subject to applicable stock exchange requirements, available shares under a stockholder-approved plan
of an entity directly or indirectly acquired by the Company or with which the Company combines (as appropriately adjusted to reflect the acquisition or combination transaction) may be used for Awards under the Plan and shall not reduce the number of
shares of Common Stock available for delivery under the Plan. 
 6. Eligibility. Participation shall be limited to Eligible Persons who have entered
into an Award Agreement or who have received written notification from the Committee, or from a person designated by the Committee, that they have been selected to participate in the Plan. 

7. Individual Award Limitations. Subject to Section 5(b) and Section 14, the following individual Award limits shall apply to the extent
Section 162(m) of the Code is applicable to the Plan, and for those Awards intended to qualify as performance-based compensation under Section 162(m) of the Code: 

(a) No Participant may be granted more than 250,000 Options, SARs or any other Award based solely on the increase in value of the Common Stock
from the Date of Grant under the Plan in any calendar year; 
 (b) No Participant may be granted more than 200,000 Performance Shares,
Performance Units to be settled in Common Stock or Other Stock-Based Awards under the Plan in any calendar year. The limit set forth herein states the number of shares of Common Stock that may be issuable when measured upon achievement of the
performance objectives at targeted levels of performance, it being understood that any such Awards that are subject to performance based vesting criteria may provide that, for performance above such targeted levels, up to twice such number of shares
may be payable. 
 (c) No Participant may be granted Performance Units to be settled in cash or Cash Awards under the Plan in any calendar
year with a value of more than U.S. $3,000,000 (or the equivalent of such amount denominated by in the Participant’s local currency). 
 8.
Options. 
 (a) General. Each Option granted under the Plan shall be evidenced by an Award Agreement. Each Option so granted
shall be subject to the conditions set forth in this Section 8 and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. 

  
 13 








 (b) Qualification of Incentive Stock Options. No Eligible Person may be granted an
Incentive Stock Option under the Plan if such Eligible Person, at the time the Incentive Stock Option is granted, owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any then existing
Affiliate of the Company or “parent corporation” (within the meaning of Section 424(e) of the Code) unless such Incentive Stock Option conforms to the applicable provisions of Section 422 of the Code. Subject to Section 16
of the Plan, any Incentive Stock Option granted under the Plan may be modified by the Committee, without the consent of the Participant, even if such modification would result in the disqualification of such Option as an “incentive stock
option” under Section 422 of the Code. Award Agreements evidencing Incentive Stock Options shall contain such terms and conditions as may be necessary to qualify such Options as “incentive stock options” under Section 422 of
the Code. 
 (c) Exercise Price. Except as otherwise provided by the Committee in the case of a Substitute Award, the exercise price
(“Exercise Price”) per share of Common Stock for each Option shall not be less than 100% of the Fair Market Value of such share (determined as of the Date of Grant). Any modification to the Exercise Price of an outstanding Option
shall be subject to the prohibition on repricing set forth in Section 4(b). 
 (d) Vesting and Expiration. 

(i) Options shall vest and become exercisable in such manner and on such date or dates determined by the Committee and shall expire after such
period, not to exceed 10 years, as may be determined by the Committee (the “Option Period”); provided, that, with respect to an Incentive Stock Option in the case of a Participant owning (within the meaning of
Section 424(d) of the Code), at the time the Incentive Stock Option was granted, more than 10% of the total combined voting power of all classes of stock of the Company or any Affiliate, no Incentive Stock Option may be exercised after the
expiration of five (5) years from the date the Incentive Stock Option was granted; provided, further, that if the Option Period would expire at a time when trading in the shares of Common Stock is prohibited by the Company’s
insider trading policy (or Company-imposed “blackout period”) or otherwise prohibited by Applicable Law, the Option Period shall be automatically extended until the 30th day following
the expiration of such prohibition but only to the extent that such extension would not violate Section 409A of the Code. Notwithstanding any vesting or exercisability dates set by the Committee, the Committee may, in its sole discretion,
accelerate the vesting or exercisability of any Option at any time, which acceleration shall not affect the terms and conditions of such Option other than with respect to vesting or exercisability, as applicable. 

(ii) The aggregate Fair Market Value (determined as of the time the Option is granted) of all shares of Common Stock with respect to which
Incentive Stock Options are first exercisable by a Participant in any calendar year may not exceed $100,000 or such other limitation as imposed by Section 422(d) of the Code. To the extent that Incentive Stock Options are first exercisable by a
Participant in excess of such limitation, the excess shall be considered Non-Qualified Stock Options. 

  
 14 








 (iii) Notwithstanding anything to the contrary in the Plan, except as otherwise provided in the
applicable Award Agreement or any applicable employment, consulting, change in control, severance, or other agreement between a Participant and the Company or an Affiliate: 

(A) Upon termination of employment or service of the Participant to whom the Option was granted by reason of such
Participant’s death or Disability, all of the Option shall fully vest and remain exercisable for one (1) year (or such greater or lesser period of time as the Committee may specify) following termination of employment or service, but not
later than the expiration of the Option Period. 
 (B) Upon termination of employment or service of the Participant to whom
the Option was granted by reason of such Participant’s Retirement, the unvested portion of an Option shall fully vest upon termination of employment or service, and the vested portion of such Option shall remain exercisable for three
(3) years (or such greater or lesser period of time as the Committee may specify) following termination of employment or service, but not later than the expiration of the Option Period. 

(C) Upon a termination of employment or service of the Participant to whom the Option was granted for Cause, all of such
Participant’s Options shall expire at the time of such termination, whether or not then vested. 
 (D) Upon termination
of employment or service of the Participant to whom the Option was granted for any reason other than due to death, Disability, Retirement or for Cause, the unvested portion of an Option shall expire upon termination of employment, and the vested
portion of such Option shall remain exercisable for 90 days (or such greater or less period of time as the Committee may specify) following termination of employment or service, but not later than the expiration of the Option Period. 

(e) Other Terms and Conditions. Except as specifically provided otherwise in an Award Agreement, each Option granted under the Plan
shall be subject to the following terms and conditions: 
 (i) Each Option or portion thereof that is exercisable shall be exercisable for
the full amount or for any part thereof. 
 (ii) Each share of Common Stock purchased through the exercise of an Option shall be paid for in
full at the time of the exercise or at such time as shall otherwise be permitted under the exercise procedures approved by the Committee. Each Option shall cease to be exercisable, as to any share, when the Participant purchases the share or when
the Option expires. 
 (iii) Except to the extent provided in accordance with the exercise of the Committee’s authority pursuant to
Section 14, no Dividend Equivalents shall be payable in respect of any Option. 

  
 15 








 (iv) Subject to Section 17(a), an Option shall not be transferable by the Participant except
by will or the laws of descent and distribution and shall be exercisable during the Participant’s lifetime only by the Participant. 

(f) Method of Exercise and Form of Payment. No shares of Common Stock shall be delivered pursuant to any exercise of an Option until
payment in full of the Exercise Price therefor is received by the Company and the Participant has paid to the Company an amount equal to all federal, state, local, and non-U.S. income and employment taxes required to be withheld. An Option that has
become exercisable may be exercised by delivery of written or electronic notice of exercise to the Company or its designee (including a third-party administrator), or telephonic instructions to the extent provided by the Committee, in accordance
with the terms of the applicable Award Agreement accompanied by payment of the Exercise Price. The Exercise Price and all applicable required withholding taxes shall be payable in any manner approved by the Committee in writing in its sole
discretion or provided in the applicable Award Agreement, which may include, without limitation, (i) in cash, check, cash equivalent, or shares of Common Stock valued at the Fair Market Value at the time the Option is exercised
(including, pursuant to procedures approved by the Committee, by means of attestation of ownership of a sufficient number of shares of Common Stock in lieu of actual delivery of such shares to the Company), or any combination thereof;
provided that such shares of Common Stock are not subject to any pledge or other security interest, (ii) in other property having a fair market value on the date of exercise equal to the Exercise Price and all applicable required
withholding taxes, (iii) if there is a public market for the shares of Common Stock at such time, by means of a broker-assisted “cashless exercise” in accordance with rules and procedures established by the Committee for this
purpose, pursuant to which the Company is delivered (including telephonically to the extent permitted by the Committee) a copy of irrevocable instructions to a stockbroker to sell the shares of Common Stock otherwise deliverable upon the exercise of
the Option and to deliver promptly to the Company an amount equal to the Exercise Price and all applicable required withholding taxes, or (iv) by means of a “net exercise” procedure effected by withholding the minimum number of
shares of Common Stock otherwise deliverable in respect of an Option that are needed to pay for the Exercise Price and all applicable required withholding taxes. Notwithstanding the foregoing, if any option is still outstanding on the last day of
the Option Period, the Fair Market Value exceeds the Exercise Price and the Option may be exercised using the net exercise method described in clause (iv) of the immediately preceding sentence, such Option shall be deemed to have been exercised
by the Participant on such last day of the Option Period using the next exercise method. Any fractional shares of Common Stock resulting from any exercise of any Option shall be settled in cash. The Committee may require each Participant to give the
Company prompt notice of any disposition of shares of Common Stock acquired by exercise of an Incentive Stock Option, within two (2) years from the date of granting such Option or one (1) year after the transfer of such shares of Common
Stock to such Participant. 
 (g) Compliance with Laws. Notwithstanding the foregoing, in no event shall a Participant be permitted to
exercise an Option in a manner that the Committee determines would violate any Applicable Law or the applicable rules and regulations of the Securities and Exchange Commission or the applicable rules and regulations of the securities exchange or
inter-dealer quotation system on which the Common Stock is listed or quoted, if any. 

  
 16 








 9. Stock Appreciation Rights. 

(a) General. Each SAR granted under the Plan shall be evidenced by an Award Agreement. Each SAR so granted shall be subject to the
conditions set forth in this Section 9 and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. Any Option granted under the Plan may include tandem SARs. The Committee also may award
SARs to Eligible Persons independent of any Option. 
 (b) Strike Price. Except as otherwise provided by the Committee in the case of
a Substitute Award, the strike price (“Strike Price”) per share of Common Stock for each SAR shall not be less than 100% of the Fair Market Value of such share (determined as of the Date of Grant). Notwithstanding the foregoing, a
SAR granted in tandem with (or in substitution for) an Option previously granted shall have a Strike Price equal to the Exercise Price of the corresponding Option. Any modification to the Strike Price of an outstanding SAR shall be subject to the
prohibition on repricing set forth in Section 4(b). 
 (c) Vesting and Expiration. 

(i) A SAR granted in connection with an Option shall become exercisable and shall expire according to the same vesting schedule and expiration
provisions as the corresponding Option. A SAR granted independent of an Option shall vest and become exercisable and shall expire in such manner and on such date or dates determined by the Committee and shall expire after such period, not to exceed
10 years, as may be determined by the Committee (the “SAR Period”). Notwithstanding any vesting or exercisability dates set by the Committee, the Committee may, in its sole discretion, accelerate the vesting or exercisability of any
SAR at any time, which acceleration shall not affect the terms and conditions of such SAR other than with respect to vesting or exercisability, as applicable. If the SAR Period would expire at a time when trading in the shares of Common Stock is
prohibited by the Company’s insider trading policy (or the Company-imposed “blackout period”) or otherwise prohibited by Applicable Law, the SAR Period shall be automatically extended until the 30th day following the expiration of such prohibition but only to the extent that such extension would not violate Section 409A of the Code. 

(ii) Notwithstanding anything to the contrary in the Plan, except as otherwise provided in the applicable Award Agreement or any applicable
employment, consulting, change-in-control, severance, or other agreement between a Participant and the Company or an Affiliate: 

(A) Upon termination of employment or service of the Participant to whom the SAR was granted by reason of such
Participant’s death or Disability, all of the SAR shall fully vest and remain exercisable for one (1) year (or such greater or lesser period of time as the Committee may specify) following termination of employment or service, but not
later than the expiration of the SAR Period. 
 (B) Upon termination of employment or service of the Participant to whom the
SAR was granted by reason of such Participant’s Retirement, the unvested portion of an SAR shall fully vest upon termination of employment or service, and the vested portion of such SAR shall remain exercisable for three (3) years (or such
greater or lesser period of time as the Committee may specify) following termination of employment or service, but not later than the expiration of the SAR Period. 

  
 17 








 (C) Upon a termination of employment or service of the Participant to whom the
SAR was granted for Cause, all of such Participant’s SARs shall expire at the time of such termination, whether or not then vested. 

(D) Upon termination of employment or service of the Participant to whom the SAR was granted for any reason other than due to
death, Disability, Retirement or for Cause, the unvested portion of an SAR shall expire upon termination of employment, and the vested portion of such SAR shall remain exercisable for 90 days (or such greater or lesser period of time as the
Committee may specify) following termination of employment or service, but not later than the expiration of the SAR Period. 
 (d) Other
Terms and Conditions. Except as specifically provided otherwise in an Award Agreement, each SAR granted under the Plan shall be subject to the following terms and conditions: 

(i) Each SAR or portion thereof that is exercisable shall be exercisable for the full amount or for any part thereof. 

(ii) Except to the extent provided in accordance with the exercise of the Committee’s authority pursuant to Section 14, no Dividend
Equivalents shall be payable in respect of any SAR. 
 (iii) Subject to Section 17(a), a SAR shall not be transferable by the
Participant except by will or the laws of descent and distribution and shall be exercisable during the Participant’s lifetime only by the Participant. 

(e) Method of Exercise. A SAR that has become exercisable may be exercised by delivery of written or electronic notice of exercise to
the Company or its designee (including a third-party administrator), or telephonic instructions to the extent provided by the Committee, in accordance with the terms of the applicable Award Agreement, specifying the number of shares with respect to
which such SAR is to be exercised and the Date of Grant of such SAR. Notwithstanding the foregoing, if on the last day of the Option Period (or in the case of a SAR independent of an Option, the SAR Period), the Fair Market Value exceeds the Strike
Price, the Participant has not exercised the SAR or the corresponding Option (if applicable), and neither the SAR nor the corresponding Option (if applicable) has expired, such SAR shall be deemed to have been exercised by the Participant on such
last day and the Company shall make the appropriate payment therefor. 
 (f) Settlement. Upon the exercise of a SAR, the Company shall
pay to the Participant an amount equal to the number of shares with respect to which the SAR is being exercised multiplied by the excess, if any, of the Fair Market Value of one share of Common Stock on the exercise date over the Strike Price, less
an amount equal to all federal, state, local, and non–U.S. income and employment taxes required to be withheld. The Company shall pay such amount in cash, in shares of Common Stock valued at Fair Market Value, or any combination thereof, as
determined by the Committee. Any fractional shares of Common Stock shall be settled in cash. 

  
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 (g) Substitution of SARs for Options. The Committee shall have the authority in its sole
discretion to substitute, without the consent of the affected Participant or any holder or beneficiary of a SAR settled in shares of Common Stock (or settled in shares or cash in the sole discretion of the Committee) for an outstanding Option,
provided that (i) the substitution shall not otherwise result in a modification of the terms of any such Option, (ii) the number of shares of Common Stock underlying the substituted SAR shall be the same as the number
of shares of Common Stock underlying such Option, and (iii) the Strike Price of the substituted SAR shall be equal to the Exercise Price of such Option; provided, however, that if, in the opinion of the Company’s
independent public auditors, the foregoing provision creates adverse accounting consequences for the Company, such provision shall be considered null and void. 

10. Restricted Stock and Restricted Stock Units. 

(a) General. Each grant of Restricted Stock and Restricted Stock Units granted under the Plan shall be evidenced by an Award Agreement.
Each Restricted Stock and Restricted Stock Unit grant shall be subject to the conditions set forth in this Section 10 and to such other conditions not inconsistent with the Plan as determined by the Committee and may be reflected in the
applicable Award Agreement. The Committee shall establish restrictions applicable to such Restricted Stock and Restricted Stock Units, including the Restricted Period, and the time or times at which Restricted Stock or Restricted Stock Units shall
be granted or become vested. These restrictions may lapse separately or in combination at such times, pursuant to such circumstances, in such installments, or otherwise, as the Committee determines at the time of the Date of Grant or thereafter.

 (b) Forfeiture. Restricted Stock and Restricted Stock Units awarded to a Participant shall be subject to forfeiture until the
expiration of the Restricted Period, and Restricted Stock shall be subject to the following provisions in addition to such other terms and conditions as may be set forth in the applicable Award Agreement: (i) if an escrow arrangement is
used, the Participant shall not be entitled to delivery of the stock certificate, and (ii) the shares shall be subject to the restrictions on transferability set forth in the Award Agreement. Unless otherwise provided by the Committee in
an Award Agreement or any applicable employment, consulting, change in control, severance, or other agreement between a Participant and the Company or an Affiliate, (A) upon termination of employment or service of the Participant granted
the applicable Award for any reason other than by reason of death, Disability or Retirement, the unvested portion of Restricted Stock and Restricted Stock Units shall terminate and be forfeited and (B) upon termination of employment or
service of the Participant granted the applicable Award by reason of death, Disability or Retirement, the unvested portion of Restricted Stock and Restricted Stock Units shall become fully vested and nonforfeitable as of the date of the
Participant’s termination of employment or service. In the event of any forfeiture of Restricted Stock, the stock certificates shall be returned to the Company and all rights of the Participant to such shares and as a shareholder shall
terminate without further action or obligation on the part of the Company. In the event of any forfeiture of Restricted Stock Units, all rights of the Participant to such Restricted Stock Units shall terminate without further action or obligation on
the part of the Company. The Committee may in its sole discretion accelerate the lapse of any or all of the restrictions on the Restricted Stock and Restricted Stock Units at any time, which acceleration shall not affect any other terms and
conditions of such Awards. 

  
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 11. Provisions Applicable to Restricted Stock, Restricted Stock Units, Performance Shares and Performance
Units.  
 (a) Stock Certificates; Escrow or Similar Arrangement. Upon the grant of Restricted Stock or Performance Shares, the
Committee shall cause share(s) of Common Stock to be registered in the name of the Participant and held in book-entry form subject to the Company’s directions and, if the Committee determines that the Restricted Stock or Performance Shares
shall be held by the Company or in escrow rather than delivered to the Participant pending vesting and the release of the applicable restrictions, the Committee may require the Participant to additionally execute and deliver to the Company
(i) an escrow agreement satisfactory to the Committee, if applicable, and (ii) the appropriate stock power (endorsed in blank) with respect to the Restricted Stock or Performance Shares, as applicable, covered by such
agreement. If a Participant shall fail to execute and deliver an agreement evidencing an Award of Restricted Stock or Performance Shares and, if applicable, an escrow agreement and blank stock power within the amount of time specified by the
Committee, the Award shall be null and void. Subject to the restrictions set forth in the Plan and the applicable Award Agreement, the Participant shall generally have the rights and privileges of a shareholder as to such Restricted Stock and
Performance Shares, including without limitation the right to vote such Restricted Stock and Performance Shares (provided that, except as set forth in any applicable Award Agreement, any dividends payable on such shares of Restricted Stock or
Performance Shares shall be held by the Company and delivered (without interest) to the Participant within 15 days following the date on which such Restricted Stock or Performance Shares, as applicable, vest, and the right to any such accumulated
dividends shall be forfeited upon the forfeiture of the Restricted Stock or Performance Shares to which such dividends relate). The Committee shall also be permitted to cause a stock certificate registered in the name of the Participant to be
issued. To the extent that shares of Restricted Stock or Performance Shares are forfeited, any stock certificates issued to the Participant evidencing such shares shall be returned to the Company, and all rights of the Participant to such shares and
as a shareholder with respect thereto shall terminate without further obligation on the part of the Company. 
 (b) Dividend
Equivalents. No shares shall be issued at the time an Award of Restricted Stock Units or Performance Units is made, and the Company will not be required to set aside a fund for the payment of any such Award. At the discretion of the Committee,
each Restricted Stock Unit awarded to a Participant may be credited with cash and stock dividends paid in respect of one share of Common Stock (“Dividend Equivalents”). Subject to Section 17(b), at the discretion of the
Committee, Dividend Equivalents may be either currently paid to the Participant or withheld by the Company for the Participant’s account, and interest may be credited on the amount of cash Dividend Equivalents withheld at a rate and subject to
such terms as determined by the Committee. Dividend Equivalents credited to a Participant’s account and attributable to any particular Restricted Stock Unit (and earnings thereon, if applicable) shall be distributed to the Participant upon
settlement of such Restricted Stock Unit or, and if such Restricted Stock Unit is forfeited, the Participant shall have no right to such Dividend Equivalents. 

  
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 (c) Delivery of Restricted Stock and Settlement of Restricted Stock Units. 

(i) Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock or the achievement of Performance Goals
applicable to any Performance Shares and any other applicable vesting criteria established by the Committee, the restrictions set forth in the applicable Award Agreement shall be of no further force or effect with respect to such shares, except as
set forth in the applicable Award Agreement. If an escrow arrangement is used, upon such expiration, the Company shall deliver to the Participant, or his beneficiary without charge a notice evidencing a book entry notation (or, if applicable, the
stock certificate) evidencing the shares (rounded down to the nearest full share) of Restricted Stock or Performance Shares, as applicable, that have not then been forfeited and with respect to which the Restricted Period has expired or the
Performance Goals achieved, as applicable. Dividends, if any, that may have been withheld by the Committee and attributable to any particular share of Restricted Stock or Performance Share shall be distributed to the Participant in cash or, at the
sole discretion of the Committee, in shares of Common Stock having a Fair Market Value (on the date of distribution) equal to the amount of such dividends, upon the release of restrictions on such share and, if such share is forfeited, the
Participant shall have no right to such dividends. 
 (ii) Unless otherwise provided by the Committee in an Award Agreement, upon the
expiration of the Restricted Period with respect to any outstanding Restricted Stock Units, the achievement of Performance Goals applicable to any Performance Units and the attainment of all other applicable vesting criteria established by the
Committee, the Company shall deliver to the Participant, or his beneficiary, without charge, one share of Common Stock (or other securities or other property, as applicable) for each such outstanding Restricted Stock Unit or Performance Unit, as
applicable, that has not then been forfeited and with respect to which the Restricted Period has expired or the Performance Goals achieved, as applicable, and all other such vesting criteria are attained (“Released Unit”);
provided, however, that the Committee may, in its sole discretion, elect to (i) pay cash or part cash and part Common Stock in lieu of delivering only shares of Common Stock in respect of such Released Units or
(ii) defer the delivery of Common Stock (or cash or part Common Stock and part cash, as the case may be) beyond the vesting date if such extension would not cause adverse tax consequences under Section 409A of the Code. If a cash
payment is made in lieu of delivering shares of Common Stock, the amount of such payment shall be equal to the Fair Market Value of the underlying Common Stock as of the date on which such Restricted Stock Units or Performance Units vested, less an
amount equal to all federal, state, local, and non–U.S. income and employment taxes required to be withheld. 
 (d) Legends on
Restricted Stock and Performance Shares. Each certificate representing Restricted Stock or Performance Shares awarded under the Plan, if any, shall bear a legend substantially in the form of the following in addition to any other information the
Company deems appropriate until the lapse of all restrictions or the achievement of applicable Performance Goals respect to such Common Stock: 

TRANSFER OF THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY IS RESTRICTED PURSUANT TO THE TERMS OF THE TRIBUNE PUBLISHING COMPANY 2014
OMNIBUS INCENTIVE PLAN AND A RESTRICTED STOCK AWARD AGREEMENT, DATED AS OF 

  
 21 








 
            , BETWEEN TRIBUNE PUBLISHING COMPANY AND             . A COPY
OF SUCH PLAN AND AWARD AGREEMENT IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF TRIBUNE PUBLISHING COMPANY. 
 12. Performance Awards. 

(a) Grants of Performance Awards. All Performance Awards granted under the Plan (including Performance Shares, Performance Units and
Cash Awards) shall be evidenced by an Award Agreement. Each Performance Award so granted shall be subject to the conditions set forth in this Section 12 and to such other conditions not inconsistent with the Plan as may be reflected in the
applicable Award Agreement. 
 (b) Issuance and Restrictions. The Committee shall have the authority to determine the Participants who
shall receive Performance Awards, the number of Performance Shares, the number and value of Performance Units and the amount of cash, as applicable, with respect to any such Performance Award for any Performance Cycle, and the applicable Performance
Goals. The Committee shall determine the duration of each Performance Cycle (the duration of Performance Cycles of different Performance Awards may differ from one another), and there may be more than one Performance Cycle in existence at any one
time. 
 (c) Earned Performance Awards. Performance Awards shall become earned, in whole or in part, based upon the attainment of
specified Performance Goals or the occurrence of any event or events, as the Committee shall determine, either in an Award Agreement or thereafter on terms more favorable to the Participant to the extent consistent with Section 162(m). In
addition to the achievement of the specified Performance Goals, the Committee may condition payment of Performance Awards on such other conditions as the Committee shall specify in an Award Agreement. The Committee may also provide in an Award
Agreement for the completion of a minimum period of service (in addition to the achievement of any applicable Performance Goals) as a condition to the vesting of any Performance Award. 

(d) Performance Goals. The Committee shall establish the Performance Goals that must be satisfied in order for a Participant to receive
an Award for a Performance Cycle or for a Performance Award to be earned or vested. At the discretion of the Committee, the Performance Goals may be based upon (alone or in combination): (A) net or operating income (before or after
taxes); (B) earnings before taxes, interest, depreciation and/or amortization (“EBITDA”); (C) net income before equity in earnings of unconsolidated Affiliates, income tax expense, loss on early debt
extinguishment, interest and other (expense) income, realized gain (loss) on investments, interest expense, equity-based compensation expense, related party management fees, restructuring charges and depreciation and amortization expense and net
income attributable to noncontrolling interests (“Adjusted EBITDA”); (D) basic or diluted earnings per share or improvement in basic or diluted earnings per share; (E) sales (including, but not limited to,
total sales, net sales and revenue growth); (F) net operating profit; (G) financial return measures (including, but not limited to, return on assets, capital, invested capital, equity, sales and revenue); (H) cash
flow measures (including, but not limited to, operating cash flow, free cash flow, cash flow return on equity and cash flow return on investment); (I) productivity ratios (including, but not limited to, measuring liquidity, profitability
and leverage); (J) share price 

  
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(including, but not limited to, growth measures and total shareholder return); (K) expense/cost management targets; (L) margins (including, but not limited to, operating
margin, net income margin, cash margin, gross, net or operating profit margins, EBITDA margins and Adjusted EBITDA margins); (M) operating efficiency; (N) market share or market penetration; (O) customer targets
(including, but not limited to, customer growth and customer satisfaction); (P) working capital targets or improvements; (Q) economic value added; (R) balance sheet metrics (including, but not limited to,
inventory, inventory turns, receivables turnover, net asset turnover, debt reduction, retained earnings, year-end cash, cash conversion cycle and ratio of debt to equity or to EBITDA); (S) workforce targets (including, but not limited
to, diversity goals, employee engagement or satisfaction, employee retention and workplace health and safety goals); (T) implementation, completion or attainment of measurable objectives with respect to research and development, key
products or key projects, lines of business, acquisitions and divestitures and strategic plan development and/or implementation; (U) comparisons with various stock market indices, peer companies or industry groups or classifications with
regard to one more of these criteria, or, for any period of time in which Section 162(m) is not applicable to the Company and the Plan, or at any time in the case of (x) persons who are not “covered employees” under
Section 162(m) of the Code or (y) Awards (whether or not to “covered employees”) not intended to qualify as performance-based compensation under Section 162(m) of the Code, such other criteria as may be determined by
the Committee. 
 Performance Goals may be established on a Company-wide basis or with respect to one or more business units, divisions,
Affiliates, or products and may be expressed in absolute terms, or relative to (i) current internal targets or budgets, (ii) the past performance of the Company (including the performance of one or more Subsidiaries,
divisions or operating units), (iii) the performance of one or more similarly situated companies, (iv) the performance of an index covering a peer group of companies or (v) other external measures of the selected
performance criteria. Any performance objective may measure performance on an individual basis, as appropriate. The Committee may provide for a threshold level of performance below which no Common Stock or compensation will be granted or paid in
respect of Performance Awards, and a maximum level of performance above which no additional Common Stock or compensation will be granted or paid in respect of Performance Awards, and it may provide for differing amounts of Common Stock or
compensation to be granted or paid in respect of Performance Awards for different levels of performance. When establishing Performance Goals for a Performance Cycle, the Committee may determine that any or all “extraordinary items” as
determined under U.S. generally accepted accounting principles and as identified in the financial statements, notes to the financial statements or management’s discussion and analysis in the annual report, including, but not limited to, the
charges or costs associated with restructurings of the Company, discontinued operations, extraordinary items, capital gains and losses, dividends, repurchase of shares, other unusual or non-recurring items, and the cumulative effects of accounting
changes shall be excluded from the determination as to whether the Performance Goals have been met. Except in the case of Awards to “covered employees” intended to be performance-based compensation under Section 162(m) of the Code,
the Committee may also adjust the Performance Goals for any Performance Cycle as it deems equitable in recognition of unusual or non-recurring events affecting the Company, changes in applicable tax laws or accounting principles, or such other
factors as the Committee may determine. 

  
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 (e) Special Rule for Performance Goals. If, at the time of grant, the Committee intends a
Performance Award to qualify as performance-based compensation within the meaning of Section 162(m) of the Code, the Committee must establish Performance Goals for the applicable Performance Cycle prior to the 91st day of the Performance Cycle (or by such other date as may be required under Section 162(m) of the Code) but not later than the date on which 25% of the Performance Cycle has elapsed. 

(f) Negative Discretion. Notwithstanding anything in this Section 12 to the contrary, the Committee shall have the right, in its
absolute discretion, (i) to reduce or eliminate the amount otherwise payable to any Participant under Section 12(h) based on individual performance or any other factors that the Committee, in its discretion, shall deem appropriate
and (ii) to establish rules or procedures that have the effect of limiting the amount payable to each Participant to an amount that is less than the maximum amount otherwise authorized under the Award or under the Plan. 

(g) Affirmative Discretion. Notwithstanding any other provision in the Plan to the contrary, but subject to the maximum number of shares
of Common Stock available for issuance under Section 5 of the Plan, the Committee shall have the right, in its discretion, to grant an Award in cash, Common Stock or other Awards, or in any combination thereof, to any Participant (except for
Awards intended to qualify as performance-based compensation under Section 162(m) of the Code, to the extent Section 162(m) of the Code is applicable to the Company and the Plan) in a greater amount than would apply under the applicable
Performance Goals, based on individual performance or any other criteria that the Committee deems appropriate. Notwithstanding any provision of the Plan to the contrary, in no event shall the Committee have, or exercise, discretion with respect to a
Performance Award intended to qualify as performance-based compensation under Section 162(m) of the Code if such discretion or the exercise thereof would cause such qualification not to be available. 

(h) Certification of Attainment of Performance Goals. As soon as practicable after the end of a Performance Cycle and prior to any
payment or vesting in respect of such Performance Cycle, the Committee shall certify in writing the number and value of Performance Awards that have been earned or vested on the basis of performance in relation to the established Performance Goals.

 (i) Payment of Awards. Payment or delivery of Common Stock with respect to earned Performance Awards shall be made to the
Participant or, if the Participant has died, to the Participant’s beneficiary, as soon as practicable after the expiration of the Performance Cycle and the Committee’s certification under Section 12(h) and (unless an applicable Award
Agreement shall set forth one or more other dates) in any event no later than the earlier of (i) 90 days after the end of the fiscal year in which the Performance Cycle has ended and (ii) 90 days after the expiration of the
Performance Cycle. The Committee shall determine and set forth in the applicable Award Agreement whether earned Performance Shares and the value of earned Performance Units are to be distributed in the form of cash, shares of Common Stock or in a
combination thereof, with the value or number of shares of Common Stock payable to be determined based on the Fair Market Value of the Common Stock on the date of the Committee’s certification under Section 12(h) or such other date
specified in the Award Agreement. The Committee may, in an Award Agreement with respect to the award or delivery of Common Stock, condition the vesting of such Common Stock on the performance of additional service. 

  
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 (j) Termination of Employment or Service. Unless otherwise provided by the Committee in an
Award Agreement or any applicable employment, consulting, change in control, severance, or other agreement between a Participant and the Company or an Affiliate, (i) upon termination of employment or service of the Participant granted a
Performance Award for any reason (other than death, Disability or Retirement), the unvested Performance Awards shall immediately terminate and be forfeited, and (ii) upon termination of employment or service of the Participant by reason
of death, Disability or Retirement, (A) unvested or otherwise unpaid outstanding Performance Awards with a Performance Cycle in progress as of the date of the Participant’s termination of employment or service shall be deemed to be
earned and become vested and/or paid out on the basis of actual achievement of the Performance Goals for such Performance Cycle, prorated for the portion of the Performance Cycle coming before the Participant’s termination of employment, and
the remaining portion of such Performance Awards shall immediately terminate and be forfeited, and (B) unvested Cash Awards shall terminate and be forfeited. 

(k) Newly Eligible Participants. Notwithstanding anything in this Section 12 to the contrary, the Committee shall be entitled to
make such rules, determinations and adjustments as it deems appropriate with respect to any Participant who becomes eligible to receive Performance Awards after the commencement of a Performance Cycle. 

(l) Adjustment of Calculation of Performance Goals. In the event that, during any Performance Cycle, any recapitalization,
reorganization, merger, acquisition, divestiture, consolidation, spin-off, combination, sale of assets or other similar corporate transaction or event, or any other extraordinary event or circumstance occurs which has the effect, as determined by
the Committee, in its sole and absolute discretion, of distorting the applicable performance criteria involving the Company, including, without limitation, changes in accounting standards, the Committee may adjust or modify, as determined by the
Committee, in its sole and absolute discretion, the calculation of the Performance Goals, to the extent necessary to prevent reduction or enlargement of the Participants’ Awards under the Plan for such Performance Cycle attributable to such
transaction, circumstance or event. All determinations that the Committee makes pursuant to this Section 12(l) shall be conclusive and binding on all persons for all purposes. 

13. Other Stock-Based Awards. The Committee may issue to Eligible Persons other types of equity-based or equity-related Awards (the “Other
Stock-Based Awards”) not otherwise described by the terms of the Plan in such amounts and subject to such terms or conditions as the Committee shall determine. All Other Stock-Based Awards shall be evidenced by an Award Agreement. Each
Other Stock-Based Award so granted shall be subject to such conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. Such Other Stock-Based Awards may entail the transfer of actual shares of Common Stock, or
payment in cash or otherwise of amounts based on the value of shares of Common Stock and may include, but not be limited to, Awards designed to comply with or take advantage of the Applicable Laws of jurisdictions other than the United States.
Unless otherwise provided by the Committee in an Award Agreement or any applicable employment, consulting, change in control, severance, or 

  
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other agreement between a Participant and the Company or an Affiliate, upon termination of employment or service of the Participant granted the applicable Other Stock-Based Award for any reason,
the unvested or otherwise unpaid outstanding Other Stock-Based Award shall be deemed to be unearned and shall lapse and be forfeited as of the date of termination of employment or service. 

14. Changes in Capital Structure and Similar Events. In the event of (A) any dividend (other than regular cash dividends) or other
distribution (whether in the form of cash, shares of Common Stock, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, split-off, spin-off, combination,
repurchase or exchange of shares of Common Stock or other securities of the Company, issuance of warrants or other rights to acquire shares of Common Stock or other securities of the Company, or other similar corporate transaction or event
(including, without limitation, a Change in Control) that affects the shares of Common Stock, or (B) unusual or nonrecurring events (including, without limitation, a Change in Control) affecting the Company, any Affiliate, or the
financial statements of the Company or any Affiliate, or changes in applicable rules, rulings, regulations, or other requirements of any governmental body or securities exchange or inter-dealer quotation system, accounting principles, or law, such
that in any case an adjustment is determined by the Committee in its sole discretion to be necessary or appropriate, then the Committee shall make any such adjustments in such manner as it may deem equitable, including without limitation any or all
of the following: 
 (i) adjusting any or all of (A) the number of shares of Common Stock or other securities of the Company (or
number and kind of other securities or other property) that may be delivered in respect of Awards or with respect to which Awards may be granted under the Plan (including, without limitation, adjusting any or all of the limitations under
Section 5 of the Plan) and (B) the terms of any outstanding Award, including, without limitation, (i) the number of shares of Common Stock or other securities of the Company (or number and kind of other securities or
other property) subject to outstanding Awards or to which outstanding Awards relate, (ii) the Exercise Price or Strike Price with respect to any Award, and (iii) any applicable performance measures; 

(ii) providing for a substitution or assumption of Awards (or awards of an acquiring company), accelerating the delivery, vesting, or
exercisability of, lapse of restrictions, or other conditions on, or termination of, Awards or providing for a period of time (which shall not be required to be more than 10 days) for Participants to exercise outstanding Awards prior to the
occurrence of such event (and any such Award not so exercised shall terminate upon the occurrence of such event); and 
 (iii) canceling any
one or more outstanding Awards (or awards of an acquiring company) and causing to be paid to the holders thereof the value of such Awards, if any, as determined by the Committee (which if applicable may be based upon the price per share of Common
Stock received or to be received by other shareholders of the Company in such event), including without limitation, in the case of an outstanding Option or SAR, a cash payment in an amount equal to the excess, if any, of the Fair Market Value (as of
a date specified by the Committee) of the shares of Common Stock subject to such Option or SAR over the aggregate Exercise Price or Strike Price, respectively, of such Option or SAR (it being understood that, in


  
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such event, any Option or SAR having a per share Exercise Price or Strike Price equal to, or in excess of, the Fair Market Value of a share of Common Stock subject thereto may be canceled and
terminated without any payment or consideration therefor). Notwithstanding the discretion given to the Committee in this paragraph (iii), the Committee shall upon a Change in Control, subject to Section 17(u)(iii), be required to take the
actions described in this paragraph with respect to each Award that is subject to Section 409A of the Code on the Date of Grant of such Award. 

Payments to holders pursuant to paragraph (iii) above shall be made in cash or, in the sole discretion of the Committee, in the form of
such other consideration necessary for a Participant to receive property, cash, or securities (or a combination thereof) as such Participant would have been entitled to receive upon the occurrence of the transaction if the Participant had been,
immediately prior to such transaction, the holder of the number of shares of Common Stock covered by the Award at such time (less any applicable Exercise Price or Strike Price). In addition, in connection with any such transaction, prior to any
payment or adjustment contemplated under this Section 14, the Committee may require a Participant to (A) represent and warrant as to the unencumbered title to his Awards, (B) bear such Participant’s pro-rata share
of any post-closing indemnity obligations, and be subject to the same post-closing purchase price adjustments, escrow terms, offset rights, holdback terms, and similar conditions as the other holders of Common Stock, and (C) deliver
customary transfer documentation as reasonably determined by the Committee. Any adjustment of an Award pursuant to this Section 14 shall be effected in compliance with Section 409A of the Code to the extent applicable. 

Notwithstanding the foregoing, in the case of any “equity restructuring” (within the meaning of the Financial Accounting Standards
Board Accounting Standards Codification Topic 718 (or any successor pronouncement thereto, “ASC 718”), the Committee shall make an equitable or proportionate adjustment to outstanding Awards to reflect such equity restructuring. The
Company shall give each Participant notice (including by placement on the Company’s website) of an adjustment hereunder, and upon notice, such adjustment shall be conclusive and binding for all purposes. 

15. Effect of Change in Control. Unless otherwise determined by the Committee, as otherwise provided in this Section 15, or as otherwise provided
in an Award Agreement or any applicable employment, consulting, change in control, severance, or other agreement between a Participant and the Company or an Affiliate, in the event of a Change in Control, 

(a) no cancellation, acceleration of exercisability or vesting, lapse of any Restricted Period or settlement or other payment shall occur with
respect to any Award if the Committee reasonably determines in good faith, prior to the occurrence of a Change in Control, that the outstanding Awards shall be honored, assumed or new rights substituted therefor following the Change in Control (such
honored, assumed or substituted award, an “Alternative Award”), provided that any Alternative Award must: 
 (i)
provide the Participant rights and entitlements substantially equivalent to or better than the rights, terms and conditions applicable under such Award, including, but not limited to, an identical or better schedule as to vesting and/or
exercisability, and for Alternative Awards that are stock options, identical or better methods of payment of the exercise price thereof; and 

  
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 (ii) have terms and conditions which provide that, in the event that the Participant’s
employment is terminated without Cause within the 12 months following the occurrence of a Change in Control, 
 (A) the
outstanding Alternative Awards held by such terminated Participant, whether vested or unvested, shall immediately vest in full and become exercisable, any vesting restrictions on such Alternative Awards shall lapse; and 

(B) such Participant shall be provided with either cash or marketable stock equal to the Fair Market Value of the stock subject
to the Alternative Awards on the date of termination (and, in the case of Alternative Awards that are stock options or stock appreciation rights, in excess of the exercise price or base price that the Participant would be required to pay in respect
of such Alternative Award). 
 (b) subject to Section 15(c) and Section 17(u), if the Committee reasonably determines in good
faith, prior to the occurrence of a Change in Control, that no Alternative Awards will be provided: 
 (i) all unvested Awards (other than
Performance Awards) shall vest and the Restricted Period on all such outstanding Awards shall lapse; 
 (ii) each outstanding Option and SAR
shall vest and be canceled in exchange for a cash payment equal to (x) the excess, if any, of the Change in Control Price over the exercise price of such Option or SAR, multiplied by (y) the aggregate number of shares of Common Stock
covered by such Award; 
 (iii) each outstanding Performance Award with a Performance Cycle in progress at the time of the Change in Control
shall be deemed to be earned and become vested and paid out in an amount equal to the product of (x) such Participant’s target award opportunity with respect to such Award for the Performance Cycle in question and
(y) the percentage of Performance Goals achieved as of the date of the Change in Control (which Performance Goals shall be pro-rated, if necessary or appropriate, to reflect the portion of the Performance Cycle that has been completed),
and all other Performance Awards shall terminate and be forfeited upon consummation of the Change in Control; 
 (iv) shares of Common Stock
underlying all Restricted Stock, Restricted Stock Units, Performance Shares and Performance Units, and Other Stock-Based Awards that are vested (as provided in this Section 15 or otherwise) shall be issued or released to the Participant holding
such Award, except to the extent that the Committee has determined, in accordance with authority granted to it by the Plan or the applicable Award Agreement to settle such Award in cash in lieu of shares; and 

(v) Cash Awards that are vested but unpaid (as provided in this Section 15 or otherwise) shall be paid in cash. 

  
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 (c) Section 409A. Notwithstanding anything in Section 15, if any Award is
subject to Section 409A of the Code and an Alternative Award would be deemed a non-compliant modification of such Award under Section 409A, then no Alternative Award shall be provided and such Award shall instead be treated as provided in
Section 15(a)(ii) or in the Award Agreement (or in such other manner determined by the Committee that is a compliant modification under Section 409A). 

16. Amendments and Termination of Plan or Award Agreements. 

(a) Amendment and Termination of Plan. The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion thereof at
any time; provided that no such amendment, alteration, suspension, discontinuation, or termination shall be made without shareholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable to the
Plan (including, without limitation, as necessary to comply with any rules and regulations of the securities exchange or inter-dealer quotation system on which the Common Stock is listed or quoted, if any, or for changes in U.S. generally accepted
accounting principles to new accounting standards); provided, further, that any such amendment, alteration, suspension, discontinuance, or termination that would materially and adversely affect the rights of any Participant or any
holder or beneficiary of any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant, holder, or beneficiary. Notwithstanding the foregoing, no amendment shall be made to the last paragraph of
Section 4(b) without stockholder approval. 
 (b) Amendment of Award Agreements. The Committee may, to the extent not
inconsistent with the terms of any applicable Award Agreement, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel, or terminate any Award theretofore granted or the associated Award Agreement,
prospectively or retroactively (including after a Participant’s termination of employment or service with the Company); provided that any such waiver, amendment, alteration, suspension, discontinuance, cancelation, or termination that
would materially and adversely affect the rights of any Participant with respect to any Award theretofore granted shall not to that extent be effective without the written consent of the affected Participant. 

17. General. 
 (a) Nontransferability of
Awards. 
 (i) Each Award shall be exercisable only by a Participant during the Participant’s lifetime, or if permissible under
Applicable Law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold, or otherwise transferred or encumbered by a Participant other than by will or by the laws of descent and
distribution, and any such purported assignment, alienation, pledge, attachment, sale, transfer, or encumbrance shall be void and unenforceable against the Company or an Affiliate; provided that the designation of a beneficiary shall not
constitute an assignment, alienation, pledge, attachment, sale, transfer, or encumbrance. 

  
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 (ii) Notwithstanding the foregoing, the Committee may, in its sole discretion, permit Awards to
be transferred by a Participant, without consideration, subject to such rules as the Committee may adopt consistent with any applicable Award Agreement to preserve the purposes of the Plan, to (A) any person who is a “family
member” of the Participant, as such term is used in the instructions to Form S-8 under the Securities Act or any successor form of registration statements promulgated by the Securities and Exchange Commission (collectively, the
“Immediate Family Members”), (B) a trust solely for the benefit of the Participant and his Immediate Family Members, or (C) a partnership or limited liability company whose only partners or shareholders are
the Participant and his Immediate Family Members (each transferee described in any of clauses (A), (B) and (C) above is hereinafter referred to as a “Permitted Transferee”), in each case provided that the
Participant gives the Committee advance written notice describing the terms and conditions of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with the requirements of the Plan. 

(iii) The terms of any Award transferred in accordance with the immediately preceding paragraph shall apply to the Permitted Transferee, and
any reference in the Plan, or in any applicable Award Agreement, to a Participant shall be deemed to refer to the Permitted Transferee, except that (A) Permitted Transferees shall not be entitled to transfer any Award, other than by will
or the laws of descent and distribution, (B) Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect a registration statement on an appropriate form covering the shares of Common
Stock to be acquired pursuant to the exercise of such Option if the Committee determines, consistent with any applicable Award Agreement, that such a registration statement is necessary or appropriate, (C) the Committee or the Company
shall not be required to provide any notice to a Permitted Transferee, whether or not such notice is or would otherwise have been required to be given to the Participant under the Plan or otherwise, and (D) the consequences of the
termination of the Participant’s employment by, or services to, the Company or an Affiliate under the terms of the Plan and the applicable Award Agreement shall continue to be applied with respect to the Permitted Transferee, including, without
limitation, that an Option shall be exercisable by the Permitted Transferee only to the extent, and for the periods, specified in the Plan and the applicable Award Agreement. 

(b) Dividends and Dividend Equivalents. The Committee may, in its sole discretion, grant dividends or Dividend Equivalents to a
Participant in tandem with other Awards, in addition to other Awards, or freestanding and unrelated to other Awards. Dividends and Dividend Equivalents shall be payable in cash, shares of Common Stock, other securities, other Awards, or other
property, on a current or deferred basis, on such terms and conditions as may be determined by the Committee in its sole discretion, including without limitation, payment directly to the Participant, withholding of such amounts by the Company
subject to vesting of the Award, or reinvestment in additional shares of Common Stock, Restricted Stock, or other Awards; provided that no dividends or Dividend Equivalents shall be payable in respect of outstanding (i) Options or
SARs or (ii) unearned Awards subject to performance conditions (other than or in addition to the passage of time), although dividends and Dividend Equivalents may be accumulated in respect of unearned Awards and paid as soon as
administratively practicable, but no more than 30 days after such Awards are earned and become distributable). 

  
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 (c) Tax Withholding. 

(i) A Participant shall be required to pay to the Company or any Affiliate, and the Company and each Affiliate shall have the right (but not
the obligation) and is hereby authorized to withhold, from any cash, shares of Common Stock, other securities, or other property deliverable under any Award or from any compensation or other amounts owing to a Participant, the amount (in cash,
Common Stock, other securities, or other property) of all required withholding taxes in respect of an Award, its exercise, or any payment or transfer under an Award or under the Plan and to take such other action as may be necessary in the opinion
of the Committee or the Company to satisfy all obligations for the payment of such withholding and taxes. 
 (ii) Without limiting the
generality of paragraph (i) above, the Committee may, in its sole discretion, permit a Participant to satisfy, in whole or in part, the foregoing withholding liability (but no more than the minimum required statutory liability withholding
liability, if required to avoid adverse accounting treatment of the Award as a liability award under ASC 718) by (A) payment in cash, (B) the delivery of shares of Common Stock (which are not subject to any pledge or other
security interest) owned by the Participant having a Fair Market Value equal to such withholding liability, or (C) having the Company withhold from the number of shares of Common Stock otherwise issuable or deliverable pursuant to the
exercise or settlement of the Award a number of shares with a Fair Market Value equal to such withholding liability. 
 (d) No Claim to
Awards; No Rights to Continued Employment; Waiver. No employee of the Company or an Affiliate, or other person, shall have any claim or right to be granted an Award under the Plan or, having been selected for the grant of an Award, to be
selected for a grant of any other Award. There is no obligation for uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the Committee’s determinations and interpretations with
respect thereto need not be the same among Participants or any group of Participants and may be made selectively among Participants, whether or not such Participants are similarly situated. Neither the Plan nor any action taken hereunder shall be
construed as giving any Participant any right to be retained in the employ or service of the Company or an Affiliate, nor shall the Plan be construed as giving any Participant any rights to continued service on the Board. The Company or any of its
Affiliates may at any time dismiss a Participant from employment or discontinue any consulting or other service relationship, free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan or any Award
Agreement. By accepting an Award under the Plan, a Participant shall thereby be deemed to have waived any claim to continued exercise or vesting of an Award or to damages or severance entitlement related to non-continuation of the Award beyond the
period provided under the Plan or any Award Agreement, notwithstanding any provision to the contrary in any written employment contract or other agreement between the Company and its Affiliates and the Participant, whether any such agreement is
executed before, on, or after the Date of Grant. 
 (e) Data Privacy. As a condition of receipt of any Award, each Participant
explicitly and unambiguously consents to the collection, use, and transfer, in electronic or other form, of personal data as described in this section by and among, as applicable, the Company and its Affiliates for the exclusive purpose of
implementing, administering, and managing the Plan and Awards and the Participant’s participation in the Plan. In furtherance of such implementation, 

  
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administration, and management, the Company and its Affiliates may hold certain personal information about a Participant, including, but not limited to, the Participant’s name, home address,
telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), information regarding any securities of the Company or any of its Affiliates, and details of all Awards (the
“Data”). In addition to transferring the Data amongst themselves as necessary for the purpose of implementation, administration, and management of the Plan and Awards and the Participant’s participation in the Plan, the Company
and its Affiliates may each transfer the Data to any third parties assisting the Company in the implementation, administration, and management of the Plan and Awards and the Participant’s participation in the Plan. Recipients of the Data may be
located in the Participant’s country or elsewhere, and the Participant’s country and any given recipient’s country may have different data privacy laws and protections. By accepting an Award, each Participant authorizes such
recipients to receive, possess, use, retain, and transfer the Data, in electronic or other form, for the purposes of assisting the Company in the implementation, administration, and management of the Plan and Awards and the Participant’s
participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Company or the Participant may elect to deposit any shares of Common Stock. The Data related to a Participant
will be held only as long as is necessary to implement, administer, and manage the Plan and Awards and the Participant’s participation in the Plan. A Participant may, at any time, view the Data held by the Company with respect to such
Participant, request additional information about the storage and processing of the Data with respect to such Participant, recommend any necessary corrections to the Data with respect to the Participant, or refuse or withdraw the consents herein in
writing, in any case without cost, by contacting his local human resources representative. The Company may cancel the Participant’s eligibility to participate in the Plan, and in the Committee’s discretion, the Participant may forfeit any
outstanding Awards if the Participant refuses or withdraws the consents described herein. For more information on the consequences of refusal to consent or withdrawal of consent, Participants may contact their local human resources representative.

 (f) Non–U.S. Participants. Without limiting the generality of Section 4(d), with respect to Participants who reside or
work outside of the United States of America, the Committee may in its sole discretion amend the terms of the Plan or Sub-Plans or appendices thereto, or outstanding Awards, with respect to such Participants in order to conform such terms to the
requirements of local law or to obtain more favorable tax or other treatment for a Participant, the Company, or its Affiliates. 
 (g)
Designation and Change of Beneficiary. Each Participant may file with the Committee a written designation of one or more persons as the beneficiary(ies) who shall be entitled to receive the amounts payable with respect to an Award, if any,
due under the Plan upon such Participant’s death. A Participant may, from time to time and subject to Applicable Law, revoke or change his beneficiary designation without the consent of any prior beneficiary by filing a new designation with the
Committee. The last such designation received by the Committee shall be controlling; provided, however, that no designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the
Participant’s death, and in no event shall it be effective as of a date prior to such receipt. If no beneficiary designation is filed by a Participant, the beneficiary shall be deemed to be his spouse (or domestic partner if such status is
recognized by the Company according to the procedures established by the Company and in such jurisdiction), or if the Participant is otherwise unmarried at the time of death, his estate. After receipt of Options in accordance with this paragraph,
beneficiaries will be able to exercise such Options only in accordance with Section 8(f). 

  
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 (h) Termination of Employment or Service. Except as otherwise provided in an Award
Agreement or any employment, consulting, change in control, severance, or other agreement between a Participant and the Company or an Affiliate, unless determined otherwise by the Committee, (i) neither a temporary absence from employment or
service due to illness, vacation, or leave of absence (including, without limitation, a call to active duty for military service through a Reserve or National Guard unit) nor a transfer from employment or service with the Company to employment or
service with an Affiliate (or vice-versa) shall be considered a termination of employment or service with the Company or an Affiliate, and (ii) if a Participant’s employment with the Company and its Affiliates terminates, but such
Participant continues to provide services to the Company or its Affiliates in a non-employee capacity (including as a member of the Board who is not an employee of the Company or any Affiliate) (or vice versa), such change in status shall not be
considered a termination of employment or service with the Company or an Affiliate for purposes of the Plan. Unless otherwise determined by the Committee, in the event that any Participant’s employer ceases to be an Affiliate of the Company (by
reason of sale, divestiture, spin-off, or other similar transaction), each Participant who is employed by or provides services to such employer shall be deemed to have suffered a termination hereunder as of the date of the consummation of such
transaction, unless the Participant’s employment or service is transferred to the Company or another entity that would constitute an Affiliate immediately following such transaction. 

(i) No Rights as a Shareholder. Except as otherwise specifically provided in the Plan or any Award Agreement, no person shall be
entitled to the privileges of ownership in respect of shares of Common Stock that are subject to Awards hereunder until such shares have been issued or delivered to that person. 

(j) Government and Other Regulations. 

(i) The obligation of the Company to settle Awards in Common Stock or other consideration shall be subject to all Applicable Laws, rules, and
regulations, and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell, and shall be prohibited from
offering to sell or selling, any shares of Common Stock pursuant to an Award unless such shares have been properly registered for sale pursuant to the Securities Act with the Securities and Exchange Commission or unless the Company has received an
opinion of counsel, satisfactory to the Company, that such shares may be offered or sold without such registration pursuant to an available exemption therefrom and the terms and conditions of such exemption have been fully complied with. The Company
shall be under no obligation to register for sale under the Securities Act any of the shares of Common Stock to be offered or sold under the Plan. The Committee shall have the authority to provide that all shares of Common Stock or other securities
of the Company or any Affiliate delivered under the Plan shall be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under the Plan, the applicable Award Agreement, federal securities laws, or the rules,
regulations, and other requirements of the Securities and Exchange Commission, any securities 

  
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exchange or inter-dealer quotation system upon which such shares or other securities of the Company are then listed or quoted, and any other applicable federal, state, local, or non–U.S.
laws, rules, regulations, and other requirements, and without limiting the generality of Section 10, the Committee may cause a legend or legends to be put on any such certificates of Common Stock or other securities of the Company or any
Affiliate delivered under the Plan to make appropriate reference to such restrictions or may cause such Common Stock or other securities of the Company or any Affiliate delivered under the Plan in book-entry form to be held subject to the
Company’s instructions or subject to appropriate stop-transfer orders. Notwithstanding any provision in the Plan to the contrary, the Committee reserves the right to add any additional terms or provisions to any Award granted under the Plan
that it in its sole discretion deems necessary or advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction the Award is subject. 

(ii) The Committee may cancel an Award or any portion thereof if it determines, in its sole discretion that legal or contractual restrictions
or blockage or other market considerations would make the Company’s acquisition of shares of Common Stock from the public markets, the Company’s issuance of Common Stock to the Participant, the Participant’s acquisition of Common
Stock from the Company, or the Participant’s sale of Common Stock to the public markets, illegal, impracticable, or inadvisable. If the Committee determines to cancel all or any portion of an Award in accordance with the foregoing, the Company
shall, to the extent permitted by Section 409A of the Code, pay to the Participant an amount equal to the excess of (A) the aggregate Fair Market Value of the shares of Common Stock subject to such Award or portion thereof canceled
(determined as of the applicable exercise date, or the date that the shares would have been vested or delivered, as applicable), over (B) the aggregate Exercise Price or Strike Price (in the case of an Option or SAR, respectively) or any
amount payable as a condition of delivery of shares of Common Stock (in the case of any other Award). Such amount shall be delivered to the Participant as soon as practicable following the cancelation of such Award or portion thereof, or at the
time(s) otherwise permitted by Section 409A of the Code. 
 (k) No Section 83(b) Elections Without Consent of Company. No
election under Section 83(b) of the Code or under a similar provision of law may be made unless expressly permitted by the terms of the applicable Award Agreement or by action of the Committee in writing prior to the making of such election. If
a Participant, in connection with the acquisition of shares of Common Stock under the Plan or otherwise, is expressly permitted to make such election and the Participant makes the election, the Participant shall notify the Company of such election
within 10 days of filing notice of the election with the Internal Revenue Service or other governmental authority, in addition to any filing and notification required pursuant to Section 83(b) of the Code or other applicable provision. 

(l) Payments to Persons Other Than Participants. If the Committee shall find that any person to whom any amount is payable under the
Plan is unable to care for his affairs because of illness or accident, or is a minor, or has died, then any payment due to such person or his estate (unless a prior claim therefor has been made by a duly appointed legal representative or a
beneficiary designation form has been filed with the Company) may, if the Committee so directs the Company, be paid to such person’s spouse, child, or relative, an institution maintaining or having custody of such person, or any other person
deemed by the Committee to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of the Committee and the Company therefor. 

  
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 (m) Nonexclusivity of the Plan. The adoption of the Plan shall not be construed as
creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of stock options otherwise than under this Plan, and such arrangements may be either
applicable generally or only in specific cases. 
 (n) No Trust or Fund Created. Neither the Plan nor any Award shall create or be
construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate, on the one hand, and a Participant or other person or entity, on the other hand. No provision of the Plan or any Award shall
require the Company, for the purpose of satisfying any obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall the Company maintain
separate bank accounts, books, records, or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes. Participants shall have no rights under the Plan other than as unsecured general creditors of
the Company, except that, insofar as they may have become entitled to payment of additional compensation by performance of services, they shall have the same rights as other employees under general law. 

(o) Reliance on Reports. Each member of the Committee and each member of the Board (and each of his designees) shall be fully justified
in acting or failing to act, as the case may be, and shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent public accountant of the Company and its Affiliates or any other
information furnished in connection with the Plan by any agent of the Company or the Committee or the Board, other than himself. 
 (p)
Relationship to Other Benefits. No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, profit sharing, group insurance, or other benefit plan of the Company except as otherwise
specifically provided in such other plan. 
 (q) Purchase for Investment. Each person exercising an Option under the Plan or acquiring
shares under the Plan may be required by the Committee to give a representation in writing that such person is acquiring such shares for investment and not with a view to, or for sale in connection with, the distribution of any part thereof, and
make such other representations, warranties or covenants that the Committee determines to be necessary or appropriate to assure that the grant, terms and/or payment of any Award complies with Applicable Law. Upon such a request by the Committee,
delivery of such representation prior to the delivery of any such shares shall be a condition precedent to the right of the Participant or such other person to purchase any shares. The Company will endorse any necessary legend referring to the
foregoing restriction upon the certificate or certificates representing any shares issued or transferred to the Participant upon the exercise of any Option granted under the Plan. 

  
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 (r) Governing Law. The Plan shall be governed by and construed in accordance with the
internal laws of the State of New York applicable to contracts made and performed wholly within the State of New York, without giving effect to the conflict of laws provisions thereof. 

(s) Severability. If any provision of the Plan or any Award or Award Agreement is or becomes or is deemed to be invalid, illegal, or
unenforceable in any jurisdiction or as to any person or entity or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the Applicable
Law, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction, person,
entity, or Award, and the remainder of the Plan and any such Award shall remain in full force and effect. 
 (t) Obligations Binding on
Successors. The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation, or other reorganization of the Company, or upon any successor corporation or
organization succeeding to substantially all of the assets and business of the Company. 
 (u) 409A of the Code. 

(i) Notwithstanding any provision of the Plan to the contrary, it is intended that the provisions of this Plan comply with Section 409A of
the Code, and all provisions of this Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. Each Participant is solely responsible and liable for the
satisfaction of all taxes and penalties that may be imposed on or in respect of such Participant in connection with this Plan or any other plan maintained by the Company (including any taxes and penalties under Section 409A of the Code), and
neither the Company nor any Affiliate shall have any obligation to indemnify or otherwise hold such Participant (or any beneficiary) harmless from any or all of such taxes or penalties. With respect to any Award that is considered “deferred
compensation” subject to Section 409A of the Code and that provides for payment upon a termination of employment, references in the Plan to “termination of employment” (and substantially similar phrases) shall mean
“separation from service” within the meaning of Section 409A of the Code. For purposes of Section 409A of the Code, each of the payments that may be made in respect of any Award granted under the Plan is designated as separate
payments. 
 (ii) Notwithstanding anything in the Plan to the contrary, if a Participant is a “specified employee” within the
meaning of Section 409A(a)(2)(B)(i) of the Code, no payments or deliveries in respect of any Award that is considered “deferred compensation” subject to Section 409A of the Code and that provides for payment upon a termination of
employment shall be made to such Participant in connection with a termination of employment prior to the date that is six (6) months after the date of such Participant’s “separation from service” (as defined in Section 409A
of the Code) or, if earlier, the Participant’s date of death. Following any applicable delay, all such delayed payments or deliveries will be paid or delivered (without interest) in a single lump sum on the earliest date permitted under
Section 409A of the Code that is also a business day. 

  
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 (iii) Unless otherwise provided by the Committee, in the event that the timing of payments in
respect of any Award that is considered “deferred compensation” subject to Section 409A of the Code would be paid or accelerated upon the occurrence of (A) a Change in Control, no such payment or acceleration shall be permitted
unless the event giving rise to the Change in Control satisfies the definition of a change in the ownership or effective control of a corporation or a change in the ownership of a substantial portion of the assets of a corporation pursuant to
Section 409A of the Code or (B) a Disability, no such acceleration shall be permitted unless the Disability also satisfies the definition of “disability” pursuant to Section 409A of the Code. 

(v) Clawback/Forfeiture. Notwithstanding anything to the contrary contained herein, an Award Agreement may provide that the Committee
may, in its sole discretion, cancel such Award if the Participant, without the consent of the Company, while employed by or providing services to the Company or any Affiliate or after termination of such employment or service, violates a
non-competition, non-solicitation, non-disparagement, or non-disclosure covenant or agreement or has otherwise engaged in or engages in activity that is in conflict with or adverse to the interest of the Company or any Affiliate, including fraud or
conduct contributing to any financial restatements or irregularities, as determined by the Committee in its sole discretion. The Committee may also provide in an Award Agreement that if the Participant has otherwise engaged in or engages in any
activity referred to in the preceding sentence (including any activity constituting Cause hereunder), the Participant shall forfeit any compensation, gain, or other value realized thereafter on the vesting, exercise, or settlement of such Award, the
sale or other transfer of such Award, or the sale of shares of Common Stock acquired in respect of such Award, and shall promptly repay such amounts to the Company. The Committee may also provide in an Award Agreement that if the Participant
receives any amount in excess of what the Participant should have received under the terms of the Award for any reason (including without limitation by reason of a financial restatement, mistake in calculations, or other administrative error), all
as determined by the Committee in its sole discretion, then the Participant shall be required to promptly repay any such excess amount to the Company. To the extent required by Applicable Law (including without limitation Section 304 of the
Sarbanes-Oxley Act and Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) or the rules and regulations of the securities exchange or inter-dealer quotation system on which the Common Stock is listed or quoted, if any,
or if so required pursuant to a written policy adopted by the Company, Awards shall be subject (including on a retroactive basis) to clawback, forfeiture, or similar requirements (and such requirements shall be deemed incorporated by reference into
all outstanding Award Agreements). 
 (w) Deferral of Awards. The Committee may establish procedures pursuant to which the payment of
any Award may be deferred. 
 (x) Expenses. The expenses of administering the Plan shall be borne by the Company and its Affiliates.

 (y) Titles and Headings. The titles and headings of the sections in the Plan are for convenience of reference only, and in the
event of any conflict, the text of the Plan, rather than such titles or headings shall control. 

  
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