EX-10.6



 Exhibit 10.6 

CBS OUTDOOR AMERICAS INC. 

OMNIBUS STOCK INCENTIVE PLAN 

ARTICLE I 
 GENERAL

 Section 1.1 Purpose. 

The purpose of the CBS Outdoor Americas Inc. Omnibus Stock Incentive Plan (the “Plan”) is to benefit and
advance the interests of CBS Outdoor Americas Inc., a Maryland corporation (the “Company”), and its Subsidiaries (as defined below) by attracting, retaining and motivating Participants (as defined below) and to compensate
Participants for their contributions to the financial success of the Company and its Subsidiaries. 
 Section 1.2
Definitions. 
 As used in the Plan, the following terms shall have the following meanings: 

(a) “Adjusted Awards” shall mean Awards granted under the CBS Stock Plans that are converted into Awards in respect of
Common Stock pursuant to the transactions contemplated by the Separation Agreement. 
 (b) “Administrator” shall
mean the individual or individuals to whom the Committee delegates authority under the Plan in accordance with Section 1.3 hereof. 

(c) “Affiliate” means a corporation or other entity controlled by, controlling or under common control with the
Company. 
 (d) “Agreement” shall mean the written agreement and/or certificate or other documentation governing an
Award under the Plan. 
 (e) “Awards” shall mean any Stock Options, Stock Appreciation Rights, Restricted Shares,
Restricted Share Units, unrestricted shares of Common Stock, Dividend Equivalents, Performance Awards or Other Awards or a combination of any of the above awarded under the Plan, including Adjusted Awards and Substitute Awards. 

(f) “Board” shall mean the Board of Directors of the Company. 

(g) “CBS Compensation Committee” shall mean the Compensation Committee of the Board of Directors of CBS Corporation.

 (h) “CBS Stock Plan” shall mean each of the CBS Corporation 2009 Long-Term Incentive Plan, the CBS Corporation
2004 Long-Term Management Incentive Plan and the Viacom Inc. 2000 Long-Term Management Incentive Plan. 
 (i) “Code”
shall mean the Internal Revenue Code of 1986, as amended, including any successor law thereto, and the rules and regulations promulgated thereunder. 







 (j) “Committee” shall mean the Compensation Committee of the Board or
such other committee as may be appointed or designated by the Board to administer the Plan in accordance with Section 1.3(a) hereof or (ii) prior to the closing of the IPO, the CBS Compensation Committee. 

(k) “Common Stock” shall mean shares of the Company’s common stock, par value $0.01 per share. 

(l) “Consultant” shall mean an individual, other than an Employee or a Director, who provides services to the Company
or any of its Subsidiaries as a consultant or advisor. 
 (m) “Corporate Transaction” shall have the meaning set
forth in Section 8.1(a) hereof. 
 (n) “Date of Grant” shall mean the effective date of the grant of an
Award under the Plan; provided, however, that in the case of a Substitute Award, the Date of Grant shall be the effective date of the grant of such award under the original plan under which the award was authorized, and in the case of
an Adjusted Award, the Date of Grant shall be the effective date of the grant of such award under a CBS Stock Plan. 
 (o)
“Director” shall mean each member of the Board who is not employed by (i) the Company, (ii) any of the Company’s Subsidiaries or (iii) any entity which directly or indirectly owns an equity or similar
interest corresponding to more than 50% of the voting power normally entitled to vote for the election of directors of the Company (or comparable voting power). 

(p) “Director Grant Committee” shall have the meaning set forth in Section 1.3(d) hereof. 

(q) “Disaffiliation” means a Subsidiary’s or Affiliate’s ceasing to be a Subsidiary or Affiliate for any
reason (including, without limitation, as a result of a public offering, or a spin-off or sale by the Company, of the stock of the Subsidiary or Affiliate) or a sale of a division of the Company and its Affiliates. 

(r) “Dividend Equivalent” shall mean a right to receive a payment based upon the value of the regular cash dividend
paid on a specified number of shares of Common Stock as set forth in Section 7.1 hereof. Payments in respect of Dividend Equivalents may be in cash, or, in the discretion of the Committee, in shares of Common Stock or other securities of
the Company designated by the Committee or in a combination of cash, shares of Common Stock or such other securities 
 (s)
“Earnings Per Share” shall have the meaning provided by GAAP. 
 (t) “EBITDA” shall mean
earnings before income taxes, depreciation and amortization. 
 (u) “Effective Date” shall have the meaning set
forth in Section 13.1 hereof. 
 (v) “Eligible Person” shall have the meaning set forth in
Section 1.4 hereof. 

  
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 (w) “Employee” shall mean an individual who is employed by the Company or
any of its Subsidiaries. 
 (x) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, including
any successor law thereto, and the rules and regulations promulgated thereunder. 
 (y) “Expiration Date” shall have
the meaning set forth in Section 13.2 hereof. 
 (z) “Fair Market Value” of a share of Common Stock on a
given date shall be, unless the Committee determines otherwise, the 4:00 p.m. (New York time) closing price on such date on the New York Stock Exchange or other principal stock exchange on which the Common Stock is then listed, as reported by The
Wall Street Journal or any other authoritative source selected by the Company. 
 (aa) “Free Cash Flow” shall mean
OIBDA, less cash interest, taxes paid, working capital requirements and capital expenditures. 
 (bb) “GAAP” shall
mean generally accepted accounting principles in the United States. 
 (cc) “Incentive Stock Option” means any Stock
Option designated in the applicable Agreement as an “incentive stock option” within the meaning of Section 422 of the Code, and that in fact so qualifies. 

(dd) “IPO” means the initial public offering of Common Stock. 

(ee) “Net Earnings” shall have the meaning provided by GAAP. 

(ff) “Net Earnings from Continuing Operations” shall have the meaning provided by GAAP. 

(gg) “Net Revenue” shall have the meaning provided by GAAP. 

(hh) “OIBDA” shall mean the Company’s Operating Income before depreciation and amortization. 

(ii) “Operating Income” shall have the meaning provided by GAAP. 

(jj) “Other Awards” shall mean any form of award authorized under Section 7.2 hereof, other than a Stock
Option, Stock Appreciation Right, Restricted Share, Restricted Share Unit, unrestricted share of Common Stock, or Dividend Equivalent. 

(kk) “Outstanding Stock Option” shall mean a Stock Option granted to a Participant which has not yet been exercised
and which has not yet expired or been terminated in accordance with its terms. 
 (ll) “Participant” shall mean any
Eligible Person to whom an Award has been made under the Plan, including a recipient of a Substitute Award or an Adjusted Award. 

  
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 (mm) “Performance Award” shall mean an Award (which may
consist of Stock Options, Stock Appreciation Rights, Restricted Shares, Restricted Share Units, unrestricted shares of Common Stock, Dividend Equivalents or Other Awards, or any combination thereof) the grant, vesting, exercisability, payment and/or
settlement of which is conditioned in whole or in part on the attainment of one or more Performance Goals. In addition to other terms of the Plan applicable to such Award, including, without limitation, Article II, III, IV,
V or VII, as applicable, a Performance Award shall be subject to the terms and conditions set forth in Article VI. 

(nn) “Performance Goal” shall mean an amount, target or objective that is related to a Performance
Metric and the attainment of which is designated as a condition to the award, vesting, exercisability, payment or settlement of a Performance Award. 

(oo) “Performance Metrics” shall have the meaning set forth in Section 6.2 hereof. 

(pp) “Performance Period” shall mean a period of time over which performance is measured as determined
by the Committee in its discretion. 
 (qq) “Permanent Disability” shall, unless
otherwise determined by the Committee, have the same meaning as such term or a similar term has under the long-term disability plan or policy maintained by the Company or a Subsidiary under which the Participant has coverage and which is in effect
on the date of the onset of the Participant’s disability; provided, that if the Participant is not covered by a long-term disability plan or policy, “Permanent Disability” shall have the meaning set
forth in Section 22(e) of the Code. Notwithstanding the foregoing, in the case of Incentive Stock Options, “Permanent Disability” shall always have the meaning set forth in Section 22(e) of the Code. 

(rr) “REIT” means a real estate investment trust within the meaning of Sections 856 through 860 of the Code. 

(ss) “Reprice” shall have the meaning set forth in Section 2.5 with respect to Stock Options and in
Section 3.3(f) with respect to Stand-Alone SARs. 
 (tt) “Restricted Share” shall mean a share of
Common Stock granted to a Participant pursuant to Article IV and which is subject to the terms, conditions and restrictions as are set forth in the Plan and the applicable Agreement. 

(uu) “Restricted Share Unit” shall mean a contractual right granted to a Participant pursuant to
Article V to receive, in the discretion of the Committee, shares of Common Stock, a cash payment equal to the Fair Market Value of Common Stock, or other securities of the Company designated by the Committee or a combination of cash, shares
of Common Stock or such other securities, subject to the terms and conditions set forth in the Plan and the applicable Agreement. 

(vv) “Retirement” shall, unless the Committee determines otherwise, mean the termination of a
Participant’s Service (other than by reason of death or for a Termination for Cause) when the Participant is at least 55 years of age and has completed at least ten years of service (as determined pursuant to the Company’s applicable
practices) with the Company and/or its Subsidiaries. 

  
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 (ww) “Revenue” shall have the meaning provided by GAAP. 

(xx) “Section 162(m)” shall mean Section 162(m) of the Code. 

(yy) “Section 162(m) Exception” shall mean the exception under Section 162(m) for “qualified
performance-based compensation.” 
 (zz) “Section 162(m) Performance Metrics” shall have the meaning set forth
in Section 6.2 hereof. 
 (aaa) “Section 409A” shall mean Section 409A of the Code. 

(bbb) “Separation Agreement” shall mean the master separation agreement and/or such other agreement
entered into by and between CBS Corporation and the Company in connection with the IPO that addresses the adjustment of Participant awards granted under the CBS Stock Plans. 

(ccc) “Service” shall mean (i) an Employee’s employment with the Company or any of its
Subsidiaries, (ii) a Director’s service on the Board or (iii) a Consultant’s provision of services to the Company or any of its Subsidiaries. 

(ddd) “Share Change” shall have the meaning set forth in Section 8.1(b) hereof. 

(eee) “Stand-Alone SAR” shall have the meaning set forth in Section 3.3 hereof. 

(fff) “Stock Appreciation Right” shall mean a contractual right granted to a Participant pursuant to Article
III to receive an amount determined in accordance with Section 3.2 or 3.3 hereof, as applicable, subject to such other terms and conditions as are set forth in the Plan and the applicable Agreement. 

(ggg) “Stock Option” shall mean a contractual right granted to a Participant pursuant to Article
II to purchase shares of Common Stock at such time and price, and subject to such other terms and conditions, as are set forth in the Plan and the applicable Agreement. Stock Options may be Incentive Stock Options or nonqualified stock options,
which are not intended to be treated as Incentive Stock Options. 
 (hhh) “Subsidiary”
shall mean a corporation or other entity with respect to which the Company owns or controls, directly or indirectly, more than 50% of the outstanding shares of stock normally entitled to vote for the election of directors (or comparable voting
power), provided, that the Committee may also designate any other corporation or other entity in which the Company, directly or indirectly, has an equity or similar interest corresponding to 50% or less of such
voting power as a Subsidiary for purposes of the Plan. 

  
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 (iii) “Substitute Awards” means Awards granted upon
assumption of, or in substitution for, outstanding awards previously granted by a company or other entity (i) all or a portion of the assets or equity of which is acquired by the Company or (ii) with which the Company merges or otherwise
combines. 
 (jjj) “Tax-Related Items” means any federal, national, provincial, state,
and/or local tax liability (including, but not limited to, income tax, social insurance contributions, payment on account, employment tax obligations, stamp taxes, and any other taxes) that may be due or required by law to be withheld, and/or any
employer tax liability shifted to a Participant. 
 (kkk) “Termination for Cause” shall mean a
termination of a Participant’s Service by reason of: 
 (i) “cause” as such term or a similar term is defined
in any employment or consulting agreement that is in effect and applicable to the Participant at the time of the Participant’s termination of Service, or 

(ii) if there is no such employment or consulting agreement, or if such employment or consulting agreement contains no such
term, unless the Committee determines otherwise, the Participant’s: (A) commission of any dishonest or fraudulent act that has caused or may reasonably be expected to cause injury to the interest or business reputation of the Company or
any of its Subsidiaries; (B) conduct constituting a felony, a financial crime, embezzlement or fraud, whether or not related to the Participant’s Service; (C) willful unauthorized disclosure of confidential information;
(D) failure, neglect of or refusal to substantially perform the duties of the Participant’s Service; (E) commission or omission of any other act which is a material breach of the Company’s policies regarding employment practices
or the applicable federal, state and local laws prohibiting discrimination or which is materially injurious to the financial condition or business reputation of the Company or any Subsidiary; (F) failure to comply with the written policies of
the Company, including the Company’s Business Conduct Statement or successor conduct statement as they apply from time to time; (G) willful failure to cooperate with a bona fide internal investigation or an investigation by regulatory or
law enforcement authorities, whether or not related to Service, after being instructed by the Company or the Participant’s employer to participate; (H) willful destruction or failure to preserve documents or other material known to be
relevant to an investigation referred to in the preceding clause (G); or (I) willful inducement of others to engage in any of the conduct described in the preceding clauses (A) through (H). 

(lll) “Trading Day” means a day on which the Common Stock is traded on the New York Stock Exchange or
other principal stock exchange on which the Common Stock is then listed. 
 Section 1.3 Administration of the Plan.

 (a) Board or Committee to Administer. The Plan shall be administered by the Board or by a Committee appointed by the
Board, consisting of at least two members of the Board, provided that, prior to the closing of the IPO, the Plan may also be administered by the CBS Compensation Committee. In the event that the Board is not also serving as the Committee, the
Board, in its discretion, may at any time and from time to time exercise any and all rights and  

  
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duties of the Committee under the Plan. Notwithstanding the preceding sentence, with respect to any Award that is intended to satisfy the requirements of the Section 162(m) Exception,
such Committee shall consist of at least such number of directors as is required from time to time to satisfy the Section 162(m) Exception, and each such Committee member shall satisfy the qualification requirements of such exception;
provided, that, if any such Committee member is found not to have met the qualification requirements of the Section 162(m) Exception, any actions taken or Awards granted by the Committee shall not be invalidated by such failure to so
qualify. 
 (b) Powers of the Committee. 

(i) The Committee shall adopt such rules as it may deem appropriate in order to carry out the purpose of the Plan. All
questions of interpretation, administration and application of the Plan shall be determined by a majority of the members of the Committee then in office, except that the Committee may authorize any one or more of its members, or any officer of the
Company, to execute and deliver documents on behalf of the Committee. The determination of such majority shall be final and binding as to all matters relating to the Plan. 

(ii) The Committee shall have authority to select Participants from among the Eligible Persons specified in
Section 1.4 below, to determine the type of Award to be granted, to determine the number of shares of Common Stock subject to an Award or the cash amount payable in connection with an Award, to determine the terms and conditions of each
Award in accordance with the terms of the Plan, to establish blackout periods, to determine transfer restrictions, clawback or repayment provisions and determine whether shares of Common Stock issuable under an Award will be subject to such further
restrictions or conditions as the Committee may determine, including, but not limited to, conditions on vesting or transferability, forfeiture provisions and tax withholding conditions. The Committee may also determine a Participant’s rights to
Awards upon a termination of Service. Except as provided herein, the Committee shall also have the authority to amend the terms of any outstanding Award or waive any conditions or restrictions applicable to any Award; provided,
however, that, subject to Sections 10.3 and 10.10 and Article XI hereof, no amendment shall materially impair the rights of the holder thereof without the holder’s consent. With respect to any restrictions in the
Plan or in any Agreement that are based on the requirements of Section 422 of the Code, the Section 162(m) Exception, the rules of any exchange upon which the Company’s securities are listed, or any other applicable law, rule or
restriction, to the extent that any such restrictions are no longer required, the Committee shall have the discretion and authority to grant Awards that are not subject to such restrictions and/or to waive any such restrictions with respect to
outstanding Awards. 
 (c) Delegation by the Committee. The Committee may, but need not, from time to time delegate some or all of its
authority under the Plan to an Administrator consisting of one or more members of the Committee and/or one or more officers of the Company; provided, however, that the Committee may not delegate its authority (i) to make Awards
intended to qualify for the Section 162(m) Exception, (ii) to make Awards to Eligible Persons (A) who are subject on the date of the Award to the reporting rules under Section 16(a) of the Exchange Act


  
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or (B) who are officers of the Company delegated authority by the Committee hereunder, (iii) to interpret the Plan or any Award, or (iv) under Article XI hereof. Any
delegation hereunder shall be subject to the restrictions and limits that the Committee specifies at the time of such delegation or thereafter. Nothing in the Plan shall be construed as obligating the Committee to delegate authority to an
Administrator, and the Committee may at any time rescind the authority delegated to an Administrator appointed hereunder or appoint a new Administrator. At all times, the Administrator appointed under this Section 1.3(c) shall serve in
such capacity at the pleasure of the Committee. Any action undertaken by the Administrator in accordance with the Committee’s delegation of authority shall have the same force and effect as if undertaken directly by the Committee, and any
reference in the Plan to the Committee shall, to the extent consistent with the terms and limitations of such delegation, be deemed to include a reference to the Administrator. 

(d) Grants to Directors. Any Awards or formula for granting Awards under the Plan made to Directors shall be approved by the Board or
such other committee to which the Board may so delegate (the “Director Grant Committee”), provided that, prior to the closing of the IPO, the CBS Compensation Committee may also serve as the Director Grant Committee
(in which case, all references herein to the Director Grant Committee shall include the CBS Compensation Committee.) With respect to awards to Directors, all rights, powers and authorities vested in the Committee under the Plan shall instead be
exercised by the Board or the Director Grant Committee, and all provisions of the Plan relating to the Committee shall be interpreted in a manner consistent with the foregoing by treating any such reference as a reference to the Board or the
Director Grant Committee for such purpose. 
 (e) Non-Uniform Determinations. The Committee’s determinations under the Plan need
not be uniform and may be made by it selectively among persons who receive, or are eligible to receive, Awards under the Plan (whether or not such persons are similarly situated). Without limiting the generality of the foregoing, the Committee shall
be entitled, among other things, to make non-uniform and selective determinations, and to enter into non-uniform and selective Agreements, as to the persons receiving Awards under the Plan, the terms and provisions of Awards under the Plan and
adjustments of Awards under Article VII hereof. 
 (f) No Liability. Subject to applicable law: (i) no member of the
Committee nor any Administrator shall be liable to any Participant or any other person for anything whatsoever in connection with the administration of the Plan except such person’s own willful misconduct; (ii) under no circumstances shall
any member of the Committee or any Administrator be liable for any act or omission of any member of the Committee or any Administrator other than himself; and (iii) in the performance of its functions with respect to the Plan, the Committee and
any Administrator shall be entitled to rely upon information and advice furnished by the Company’s officers, the Company’s accountants, the Company’s or the Committee’s counsel and any other party the Committee or such
Administrator deems necessary, and no member of the Committee or such Administrator shall be liable for any action taken or not taken in good faith reliance upon any such advice. 

  
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 Section 1.4 Eligible Persons. 

Individuals eligible to receive Awards under the Plan (each, an “Eligible Person”) include (a) any
Employee (including any prospective employee) of the Company or any of its Subsidiaries; provided, however, that Incentive Stock Options may not be granted to Employees of any
corporation or other entity in which the Company owns or controls, directly or indirectly, 50% or less of the outstanding shares of stock normally entitled to vote for the election of directors (or comparable voting power); (b) any Director
(including any prospective director); (c) to the extent designated by the Committee, any Consultant (including any prospective consultant) to the Company or any of its Subsidiaries; and (d) individuals who are eligible to receive Adjusted
or Substitute Awards. Any Award made to a prospective employee, director or consultant shall be conditioned upon, and effective not earlier than, such person’s becoming an Employee, Director or Consultant. An individual’s status as an
Administrator will not affect his or her eligibility to receive Awards under the Plan, subject to the restrictions set forth in Section 1.3(c) hereof. 

Section 1.5 Common Stock Subject to the Plan. 

(a) Plan Limit. Subject to adjustment under Article VIII hereof, the total number of
shares of Common Stock available for delivery pursuant to Awards under the Plan (the “Section 1.5 Limit”) is 8,000,000 shares. The shares of Common Stock subject to Awards under the Plan shall be made available from
authorized but unissued Common Stock or from Common Stock issued and held in the treasury of the Company. 
 (b)
Rules Applicable to Determining Shares Available for Issuance. For purposes of determining the number of shares of Common Stock that remain available for delivery pursuant to Awards at any time, the following rules apply:  

(i) The Section 1.5 Limit shall be reduced by the number of shares of Common Stock subject to an Award and, in the case of
an Award that is not denominated in shares of Common Stock, the number of shares actually delivered upon payment or settlement of the Award. 

(ii) The following shall be added back to the Section 1.5 Limit and shall again be available for Awards: 

(A) shares underlying Awards or portions thereof that are settled in cash and not in shares of Common Stock; and 

(B) any shares of Common Stock that are subject to an Award, or any portion of an Award, which for any reason expires or is
cancelled, forfeited, or terminated without having been exercised or paid. 
 (iii) Anything to the contrary in this Plan
notwithstanding, 
 (A) (1) shares of Common Stock delivered to the Company by a Participant to purchase shares of Common
Stock upon the exercise of an Award or to satisfy tax withholding obligations (including shares retained from the Award creating the withholding obligation), and (2) shares of Common Stock repurchased by the Company on the open market using the
proceeds from the exercise of an Award, in either instance shall not be added back to the Section 1.5 Limit; and 

  
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 (B) upon the exercise of a Stock Option or Stock Appreciation Right settled in
shares of Common Stock, the number of shares subject to the Stock Option or Stock Appreciation Right (or portion thereof) that is then being exercised shall be counted against the Section 1.5 Limit, regardless of the number of shares of Common
Stock actually delivered in settlement of the Stock Option or Stock Appreciation Right (or portion thereof) upon exercise. 

(iv) Anything to the contrary in this Plan notwithstanding, any shares of Common Stock underlying Substitute Awards shall not
be counted against the Section 1.5 Limit, and the lapse, expiration, termination, forfeiture or cancellation of any Substitute Award without the issuance of shares of Common Stock or payment of cash thereunder shall not result in an increase
the number of shares of Common Stock available for issuance under the Plan. For the avoidance of doubt, Adjusted Awards shall be treated as Awards generally (and not as Substitute Awards) for purposes of this Section 1.5(b)(iv). 

Section 1.6 Section 162(m) Limits on Awards to Participants. 

(a) Limits on Certain Stock Options, Stock Appreciation Rights. No Participant shall be granted Awards in the form of Stock
Options or Stock Appreciation Rights in any calendar year covering, in the aggregate, in excess of 5,000,000 shares of Common Stock (regardless of whether Stock Appreciation Rights are settled in cash, Common Stock, other Company securities or a
combination thereof), subject to adjustment pursuant to Article VIII hereof. 
 (b) Limits on Other Awards. No
Participant shall be granted Awards (other than those Awards set forth in Section 1.6(a)) which are intended to qualify for the Section 162(m) Exception in any calendar year having a value in excess of $25 million (with respect to
Awards denominated in cash) and covering, in the aggregate, in excess of 4,000,000 shares of Common Stock (with respect to Awards denominated in shares of Common Stock), subject to adjustment pursuant to Article VIII hereof. 

(c) Substitute Awards and Adjusted Awards. Anything to the contrary in this Plan notwithstanding, any shares of Common Stock
underlying Substitute Awards or Adjusted Awards shall not be counted against the limits set forth in this Section 1.6. 

Section 1.7 Limits on Awards to Directors. 

(a) Limits on Awards to Directors Generally. No Director shall be granted Awards in his or her capacity as a member of the Board
in any calendar year covering, in the aggregate, in excess of 50,000 shares of Common Stock, subject to adjustment pursuant to Article VIII hereof. 

  
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 (b) Substitute Awards and Adjusted Awards. Anything to the contrary in this Plan
notwithstanding, any shares of Common Stock underlying Substitute Awards or Adjusted Awards shall not be counted against the limits set forth in this Section 1.7. 

Section 1.8 Agreements. 

The Committee shall determine and set forth in an Agreement the terms and conditions of each Award (other than an Award of unrestricted Common
Stock). The Agreement shall include any vesting, exercisability, payment and other restrictions applicable to an Award (which may include, without limitation, the effects of termination of Service, cancellation of the Award under specified
circumstances, restrictions on transfer), and shall be delivered or otherwise made available to the Participant. 
 ARTICLE II 

PROVISIONS APPLICABLE TO STOCK OPTIONS 

Section 2.1 Grants of Stock Options. 

The Committee may from time to time grant Stock Options to Eligible Persons on the terms and conditions set forth in the Plan and on such
other terms and conditions as are not inconsistent with the purposes and provisions of the Plan, as the Committee, in its discretion, may from time to time determine. 

Section 2.2 Exercise Price. 

The Committee shall establish the per share exercise price of each Stock Option; provided that such exercise price shall not be less
than 100% of the Fair Market Value of a share of Common Stock on the Date of Grant. Notwithstanding the foregoing, the per share exercise price of a Stock Option that is a Substitute Award or Adjusted Award may be less than 100% of the Fair Market
Value of a share of Common Stock on the Date of Grant, provided that such substitution or adjustment complies with applicable laws and regulations, including the listing requirements of the New York Stock Exchange and Section 409A or
Section 424 of the Code, as applicable. The exercise price of any Stock Option will be subject to adjustment in accordance with the provisions of Article VIII hereof. 

Section 2.3 Exercise of Stock Options. 

(a) Exercisability. Unless the Committee has determined or determines otherwise, Stock Options shall be exercisable only to the
extent the Participant is vested therein, subject to any restrictions that the Committee shall determine and specify in the applicable Agreement (or any employment agreement applicable to the Participant). The Committee shall establish the vesting
schedule applicable to Stock Options, which vesting schedule shall specify the period of time and the increments in which a Participant shall vest in the Stock Options and/or any applicable Performance Goals, subject to any restrictions that the
Committee shall determine. The Committee may, in its discretion, accelerate the time at which a Participant vests in his or her Stock Options. 

  
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 (b) Option Period. For each Stock Option granted, the Committee shall specify the
period during which the Stock Option may be exercised; provided, however, that no Stock Option shall be exercisable after the tenth anniversary of the Date of Grant. If the period of a Stock Option’s exercisability determined in
accordance with the preceding sentence ends on a day that is not a Trading Day, the Stock Option may be exercised up to and including the last Trading Day before such date. 

(c) Exercise in the Event of Termination of Service – Employees and Consultants. 

(i) Termination Other than for Cause; Termination due to Retirement, Death or Permanent Disability. Except as otherwise
provided in this Section 2.3(c) or as the Committee has determined or determines otherwise, the following shall apply: 

(A) subject to clauses (B), (C), and (D) below, if an Employee’s or a Consultant’s Service ceases by reason of
his or her voluntary termination or termination by the Company or any of its Subsidiaries other than for Cause, his or her Outstanding Stock Options may be exercised to the extent then exercisable until the earlier of six months after the date of
such termination or the Expiration Date; 
 (B) if an Employee’s Service ceases by reason of his or her Retirement, his
or her Outstanding Stock Options may be exercised to the extent exercisable on the date of Retirement until the Expiration Date; 

(C) if an Employee’s or a Consultant’s Service ceases by reason of his or her Permanent Disability, his or her
Outstanding Stock Options may be exercised to the extent then exercisable until the earlier of three years after such date or the Expiration Date; or 

(D) if an Employee or a Consultant dies, his or her Outstanding Stock Options may be exercised to the extent exercisable at the
date of death by (i) his or her beneficiary, if the Company has adopted procedures whereby Participants may designate a beneficiary and the Participant has done so, or (ii) if the Company has not adopted such procedures or the Participant
has not designated a beneficiary, by the person or persons who acquired the right to exercise such Stock Options by will or the laws of descent and distribution, in either such case until the earlier of two years after the date of death or the
Expiration Date. 
 Except as otherwise provided in this Section 2.3(c) or as the Committee has determined or determines
otherwise, upon the occurrence of an event described in clause (A), (B), (C) or (D) of this Section 2.3(c), all rights with respect to Stock Options that are not vested as of such event will be relinquished. 

(ii) Termination for Cause. If an Employee’s or a Consultant’s Service ends due to a Termination for Cause
then, unless the Committee in its discretion determines otherwise, all Outstanding Stock Options, whether or not then vested, shall terminate effective as of the date of such termination. 

  
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 (d) Exercise in the Event of Termination of Service – Directors. 

(i) Termination Other than for Cause; Termination due to Death or Permanent Disability. Except as otherwise provided in
this Section 2.3(d) or as the Board or Director Grant Committee has determined or determines otherwise, the following shall apply: 

(A) subject to clauses (B) and (C) below, if a Director’s Service ceases by reason of his or her voluntary
termination or termination by the Company or any of its Subsidiaries other than for Cause (which, for avoidance of doubt, shall include the Director not being re-elected to the Board), his or her Outstanding Stock Options may be exercised to the
extent then exercisable until the earlier of six months after the date of such termination or the Expiration Date; 
 (B) if
a Director’s Service ceases by reason of his or her Permanent Disability, his or her Outstanding Stock Options may be exercised to the extent then exercisable until the earlier of three years after such date or the Expiration Date; or 

(C) if a Director dies, his or her Outstanding Stock Options may be exercised to the extent exercisable at the date of death by
(i) his or her beneficiary, if the Company has adopted procedures whereby Directors may designate a beneficiary and the Director has done so, or (ii) if the Company has not adopted such procedures or the Director has not designated a
beneficiary, by the person or persons who acquired the right to exercise such Stock Options by will or the laws of descent and distribution, in either such case until the earlier of two years after the date of death or the Expiration Date. 

Except as otherwise provided in this Section 2.3(d) or as the Board or Director Grant Committee has determined or determines
otherwise, upon the occurrence of an event described in clause (A), (B) or (C) of this Section 2.3(d), all rights with respect to Stock Options that are not vested as of such event will be relinquished. 

(ii) Termination for Cause. If a Director’s Service ends due to a Termination for Cause then, unless the Board or
Director Grant Committee in its discretion determines otherwise, all Outstanding Stock Options, whether or not then vested, shall terminate effective as of the date of such termination. 

Section 2.4 Payment of Purchase Price Upon Exercise. 

Shares of Common Stock purchased through the exercise of a Stock Option shall be paid for in full on or before the settlement date for the
shares of Common Stock delivered pursuant to the exercise of the Stock Option. Payment shall be made in cash or, to the extent permitted in the discretion of the Committee, through delivery or attestation of shares of Common Stock or other
securities of the Company designated by the Committee, in a combination of cash, shares or such other securities or in any other form of valid consideration that is acceptable to the Committee in its discretion. If the Agreement so provides, such
exercise price may also be paid in whole or in part using a net share settlement procedure or through the withholding of shares 

  
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subject to the Stock Option with a value equal to the exercise price. In accordance with the rules and procedures established by the Committee for this purpose, a Stock Option may also be
exercised through a “cashless exercise” procedure, involving a broker or dealer, that affords Participants the opportunity to sell immediately some or all of the shares underlying the exercised portion of the Stock Option in order to
generate sufficient cash to pay the exercise price of the Option. 
 Section 2.5 No Repricing of Stock Options. 

The Committee may not Reprice any Stock Option without stockholder approval. As used in this Section 2.5,
“Reprice” means any of the following or any other action that has the same effect at a time when its exercise price exceeds the Fair Market Value of a share of Common Stock: (i) amending a Stock Option to reduce its
exercise price, (ii) canceling a Stock Option in exchange for a Stock Option, Restricted Share or other equity award, or (iii) taking any other action that is treated as a repricing under GAAP, provided that nothing in this
Section 2.5 shall prevent the Committee from making adjustments pursuant to Article VIII hereof. 
 ARTICLE III

 PROVISIONS APPLICABLE TO STOCK APPRECIATION RIGHTS 

Section 3.1 Stock Appreciation Rights. 

The Committee may from time to time grant Stock Appreciation Rights to Eligible Persons on the terms and conditions set forth in the Plan and
on such other terms and conditions as are not inconsistent with the purposes and provisions of the Plan, as the Committee, in its discretion, may from time to time determine. The Committee may grant Stock Appreciation Rights alone or in tandem with
Stock Options. 
 Section 3.2 Stock Appreciation Rights Granted In Tandem with Stock Options. 

A Stock Appreciation Right granted in tandem with a Stock Option may be granted either at the time of the grant of the Stock Option or by
amendment at any time prior to the exercise, expiration or termination of such Stock Option. The Stock Appreciation Right shall be subject to the same terms and conditions as the related Stock Option and shall be exercisable only at such times and
to such extent as the related Stock Option. A tandem Stock Appreciation Right shall entitle the holder to surrender to the Company all or a portion of the related Stock Option unexercised and receive from the Company in exchange therefor an amount
equal to the excess of the Fair Market Value of the shares of Common Stock subject to such Stock Option, determined as of the day preceding the surrender of such Stock Option, over the aggregate exercise price of the Stock Option (or of the portion
of the Stock Option so surrendered). Such amount shall be paid in cash, or in the discretion of the Committee, in shares of Common Stock or other securities of the Company designated by the Committee or in a combination of cash, shares of Common
Stock or such other securities. 

  
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 Section 3.3 Stand-Alone Stock Appreciation Rights. 

Stock Appreciation Rights granted alone (that is, not in tandem with Stock Options) (“Stand-Alone SARs”)
shall be subject to the provisions of this Section 3.3 and such other terms and conditions as the Committee shall establish at or after the time of grant and set forth in the applicable Agreement. 

(a) Exercise Price. The Committee shall establish the per share exercise price of each Stand-Alone SAR; provided that
such exercise price shall not be less than 100% of the Fair Market Value of a share of Common Stock on the Date of Grant. Notwithstanding the foregoing, the per share exercise price of a Stand-Alone SAR that is a Substitute Award or an Adjusted
Award may be less than 100% of the Fair Market Value of a share of Common Stock on the Date of Grant provided that such substitution or adjustment complies with applicable laws and regulations, including the listing requirements of the New
York Stock Exchange and Section 409A, as applicable. The exercise price of any Stand-Alone SAR will be subject to adjustment in accordance with the provisions of Article VIII hereof. 

(b) Exercisability of Stand-Alone SARs. Unless the Committee has determined or determines otherwise, Stand-Alone SARs shall be
exercisable only to the extent the Participant is vested therein, subject to any restrictions that the Committee shall determine and specify in the applicable Agreement (or any employment agreement applicable to the Participant). The Committee shall
establish the vesting schedule applicable to Stand-Alone SARs, which vesting schedule shall specify the period of time and the increments in which a Participant shall vest in the Stand-Alone SARs and/or any applicable Performance Goals, subject to
any restrictions that the Committee shall determine. The Committee may, in its discretion, accelerate the time at which a Participant vests in his or her Stand-Alone SARs. 

(c) Period of Exercise. For each Stand-Alone SAR granted, the Committee shall specify the period during which the Stand-Alone
SAR may be exercised; provided, however, that no Stand-Alone SAR shall be exercisable after the tenth anniversary of the Date of Grant. If the period of a Stand-Alone SAR’s exercisability determined in accordance with the
preceding sentence ends on a day that is not a Trading Day, the Stand-Alone SAR may be exercised up to and including the last Trading Day before such date. 

(d) Exercise in the Event of Termination of Service. Unless the Committee has determined or determines otherwise, in the event
that (i) the Participant’s Service ceases by reason of the voluntary termination by the Participant or the termination by the Company or any of its Subsidiaries other than for Cause, (ii) the Participant’s Service ceases by
reason of the Participant’s Retirement, (iii) the Permanent Disability of the Participant occurs, (iv) a Participant dies during a period during which his Stand-Alone SARs could have been exercised by him, or (v) the
Participant’s Service with the Company or any of its Subsidiaries ends due to a Termination for Cause, then, in each of the foregoing cases (i) through (v), the Participant’s Stand-Alone SARs may be exercised to the extent that, and
for the period during which, Stock Options awarded to the Participant would be exercisable pursuant to Section 2.3(c) or 2.3(d), as applicable. 

(e) No Repricing of Stand-Alone SARs. The Committee may not Reprice any Stand-Alone SAR without stockholder approval. As used in
this Section 3.3(e), “Reprice” means any of the following or any other action that has the same effect at a time when its exercise price exceeds the Fair Market Value of a share of Common Stock: (i) amending a Stand-Alone
SAR to reduce its exercise price, (ii) canceling a Stand-Alone SAR in exchange for a Stand-Alone SAR, Restricted Share, other equity award or cash, or (iii) taking any other action that is treated as a repricing under GAAP, provided
that nothing in this Section 3.3(e) shall prevent the Committee from making adjustments pursuant to Article VIII hereof. 

  
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 ARTICLE IV 

PROVISIONS APPLICABLE TO RESTRICTED SHARES 

Section 4.1 Grants of Restricted Shares. 

The Committee may from time to time grant Restricted Shares to Eligible Persons on the terms and conditions set forth in the Plan and on such
other terms and conditions as are not inconsistent with the purposes and provisions of the Plan, as the Committee, in its discretion, may from time to time determine. 

Section 4.2 Vesting. 

The Committee shall establish the vesting schedule applicable to Restricted Shares granted hereunder, which vesting schedule shall specify the
period of time, the increments in which a Participant shall vest in the Restricted Shares and/or any applicable Performance Goals, subject to any restrictions that the Committee shall determine and specify in the applicable Agreement. 

Section 4.3 Rights and Restrictions Governing Restricted Shares. 

The Participant shall have all rights of a holder as to Restricted Shares granted hereunder, including, to the extent applicable, the
right to receive dividends and to vote; provided, however, that unless the Committee has determined or determines otherwise: (a) the Participant shall not be registered on the books and records of the Company as a stockholder
until such shares have vested; and (b) none of the Restricted Shares may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of until such shares have vested. The Committee may make any dividend payments subject to
vesting, deferral, restrictions on transfer or other conditions; any such terms and conditions applicable to dividend payments will be set forth in the applicable Agreement. 

Section 4.4 Acceleration of Vesting and Removal of Restrictions. 

Any other provision of the Plan to the contrary notwithstanding, the Committee, in its discretion, may at any time accelerate the date or
dates on which Restricted Shares vest. Also, the Committee may, in its discretion, remove any other restrictions on Restricted Shares whenever it may determine that, by reason of changes in applicable law, the rules of any stock exchange on which
the Common Stock is listed or other changes in circumstances arising after the Date of Grant, such action is appropriate. 

  
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 Section 4.5 Delivery of Restricted Shares. 

On the date on which Restricted Shares vest, all restrictions contained in the Agreement covering such Restricted Shares and in the
Plan shall lapse. Restricted Shares awarded hereunder may be evidenced in such manner as the Committee in its discretion shall deem appropriate, including, without limitation, book-entry registration or issuance of one or more stock certificates. If
stock certificates are issued, such certificates shall be delivered to the Participant or such certificates shall be credited to a brokerage account if the Participant so directs; provided, however, that such certificates shall bear
such legends as the Committee, in its discretion, may determine to be necessary or advisable in order to comply with applicable federal or state securities laws. 

Section 4.6 Termination of Service. 

Unless the Committee has determined or determines otherwise, if the Participant’s Service terminates for any reason (including, without
limitation, by reason of voluntary termination by the Participant, termination by the Company or any of its Subsidiaries other than for Cause, Termination for Cause, the Participant’s Retirement, or the Participant’s death or Permanent
Disability) prior to the date or dates on which Restricted Shares vest, the Participant shall forfeit all unvested Restricted Shares as of the date of such event. 

Section 4.7 Grants of Unrestricted Shares. 

The Committee may from time to time, in its discretion, make Awards of unrestricted shares of Common Stock to Eligible Persons. 

ARTICLE V 
 PROVISIONS
APPLICABLE TO RESTRICTED SHARE UNITS 
 Section 5.1 Grants of Restricted Share Units. 

The Committee may from time to time grant Restricted Share Units to Eligible Persons on the terms and conditions set forth in the Plan and on
such other terms and conditions as are not inconsistent with the purposes and provisions of the Plan as the Committee, in its discretion, may from time to time determine. Each Restricted Share Unit shall correspond to one share of Common Stock. 

Section 5.2 Vesting. 

The Committee shall establish the vesting schedule applicable to Restricted Share Units granted hereunder, which vesting schedule shall
specify the period of time and the increments in which a Participant shall vest in the Restricted Share Units and/or any applicable Performance Goals, subject to any restrictions that the Committee shall determine and specify in the applicable
Agreement. 
 Section 5.3 Acceleration of Vesting. 

Any other provision of the Plan to the contrary notwithstanding, the Committee, in its discretion, may at any time accelerate the date or
dates on which Restricted Share Units vest. 

  
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 Section 5.4 Settlement of Restricted Share Units. 

Upon vesting or such later date as the Committee may determine (in accordance with the requirements of, or an exemption from,
Section 409A), Restricted Share Units will be settled, at the discretion of the Committee, in shares of Common Stock, in cash equal to the Fair Market Value of the shares subject to such Restricted Share Units, in other securities of the
Company designated by the Committee or in a combination of cash, shares of Common Stock or such other securities. Shares of Common Stock delivered in settlement of Restricted Share Units may be evidenced in such manner as the Committee in its
discretion shall deem appropriate, including, without limitation, book-entry registration or issuance of one or more stock certificates. If stock certificates are issued, such certificates shall be delivered to the Participant or such certificates
shall be credited to a brokerage account if the Participant so directs; provided, however, that such certificates shall bear such legends as the Committee, in its discretion, may determine to be necessary or advisable in order to
comply with applicable federal or state securities laws. 
 Section 5.5 Termination of Service. 

Unless the Committee has determined or determines otherwise, if the Participant’s Service terminates for any reason (including without
limitation by reason of voluntary termination by the Participant, termination by the Company or any of its Subsidiaries other than for Cause, Termination for Cause, the Participant’s Retirement, or the Participant’s death or Permanent
Disability) prior to the date or dates on which Restricted Share Units vest, the Participant shall forfeit all unvested Restricted Share Units as of the date of such event. 

ARTICLE VI 
 PERFORMANCE
AWARDS 
 Section 6.1 Grants of Performance Awards. 

The Committee may from time to time grant Awards which constitute Performance Awards to Eligible Persons on the terms and conditions set forth
in the Plan and on such other terms and conditions as are not inconsistent with the purposes and provisions of the Plan, as the Committee, in its discretion, may from time to time determine. 

Section 6.2 Performance Metrics. 

Unless the Committee has determined or determines otherwise, the grant, vesting, payment, settlement and/or exercisability of
Performance Awards shall be conditioned, in whole or in part, on the attainment of one or more Performance Goals over a Performance Period. For any Performance Awards that are intended to qualify for the Section 162(m) Exception, the relevant
Performance Goals shall be established by the Committee and shall relate to specified amounts, targets or objectives related to one or more of the following metrics (the “Section 162(m) Performance Metrics”): OIBDA; Operating
Income; Free Cash Flow; Net Earnings; Net Earnings from Continuing Operations; Earnings Per Share; EBITDA; Revenue; Net Revenue; funds from operations; adjusted funds from operations; total shareholder return; share price; return on equity; return
in excess of cost of capital; profit in excess of cost of capital; return on assets; return on invested capital; net operating profit after tax; operating margin; and profit margin. For any Awards not intended to qualify for the Section 162(m)
Exception, the  

  
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Committee may establish Performance Goals related to one or more of the Section 162(m) Performance Metrics and/or other performance metrics, which may include subjective metrics, as
it deems appropriate (together with the Section 162(m) Performance Metrics, the “Performance Metrics”). The Performance Goals may be established in terms of objectives that are related to the individual Participant or
that are Company-wide or related to a Subsidiary, division, department, region, function or business unit and may be measured on an absolute or cumulative basis or on the basis of percentage of improvement over time, and may be measured in terms of
Company performance (or performance of the applicable Subsidiary, division, department, region, function or business unit) or measured relative to selected reference companies or a market index. 

Section 6.3 Termination of Service. 

Except as otherwise provided in Section 2.3(c) or 2.3(d), 3.3(d), 4.6 or 5.5, as applicable, the
treatment of Performance Awards in the event of a Participant’s termination of Service shall be set forth in the Agreement setting forth the terms and conditions of the relevant Performance Awards. 

Section 6.4 Discretion to Reduce Compensation. 

The Committee retains the right to reduce (including to zero) any Award such that the amount of the Award is less than the maximum amount that
could be paid based on the degree to which the Performance Goals related to such Award were attained. The Committee may not increase the amount of any Award for which compliance with the Section 162(m) Exception is required in order to ensure
the deductibility of all or a portion of such Award above the maximum amount that could be paid based on the degree to which the Performance Goals related to such Award were attained. 

Section 6.5 Adjustment of Calculation of Performance Goals. 

(a) Section 162(m) Performance Awards. With respect to any Performance Award intended to qualify for the
Section 162(m) Exception, the Committee shall specify, in a manner that satisfies the requirements of the Section 162(m) Exception, whether the calculation of the Performance Goals applicable to such Performance Award shall be adjusted or
modified in order to reflect any recapitalization, reorganization, stock split or dividend, merger, acquisition, divestiture, consolidation, split-up, spin-off, split-off, combination, liquidation, dissolution, sale of assets or other similar
corporate transaction or event, or to exclude the effect of any “extraordinary items” under GAAP, including, without limitation, any changes in accounting standards, and/or to reflect any other item or event determined by the Committee in
its discretion. 
 (b) Other Performance Awards. To the extent that compliance with the Section 162(m) Exception
is not required in order to ensure the deductibility of any Performance Award, the Committee, in its discretion, may make any of the foregoing adjustments or modifications and may make such other adjustments or modifications as it determines in its
discretion to be appropriate to reflect other extraordinary events or circumstances that occur and that have the effect, as determined by the Committee, of distorting the applicable Performance Goals. 

  
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 (c) General. Adjustments or modifications authorized by this Section 6.5 shall
be made as determined by the Committee to the extent necessary to prevent reduction or enlargement of the Participant’s rights with respect to the Participant’s Performance Awards. All determinations that the Committee makes pursuant to
this Section 6.5 shall be conclusive and binding on all persons for all purposes. 
 ARTICLE VII 

DIVIDENDS, DIVIDEND EQUIVALENTS AND OTHER AWARDS 

Section 7.1 Dividends and Dividend Equivalents. 

The Committee shall have the authority to specify whether the recipient of an Award other than a Stock Option or Stock Appreciation Right
(including, without limitation, any Award deferred pursuant to Article IX) is entitled to receive, currently or on a deferred basis, interest or dividends or Dividend Equivalents with respect to the number of shares of Common Stock covered by
such Award, and the Committee may provide that such amounts (if any) shall be deemed to have been reinvested in additional shares of Common Stock or otherwise reinvested and/or shall be subject to the same terms and conditions (including vesting and
forfeiture provisions) as the related Award. Notwithstanding the foregoing, reinvestment of dividends or Dividend Equivalents in additional shares of Common Stock shall only be permissible if sufficient shares of Common Stock are available under
Section 1.5 for such reinvestment or payment (taking into account then-outstanding Awards). If sufficient shares of Common Stock are not available for such reinvestment or payment, such reinvestment or payment shall be made in the form
of a grant of Restricted Share Units equal in number to the shares of Common Stock that would have been obtained by such payment or reinvestment, the terms of which Restricted Share Units shall provide for settlement in cash and for Dividend
Equivalent reinvestment in further Restricted Share Units on the terms contemplated by this Section 7.1. 
 Section 7.2
Other Awards. 
 The Committee shall have the authority to grant other equity-based or equity-related awards or cash payments, which may
be based on one or more criteria determined by the Committee, under the Plan that are consistent with the purpose of the Plan and the interests of the Company. Other Awards may be granted in tandem with, or independent of, Awards granted under the
Plan. 
 Section 7.3 Substitute Awards and Adjusted Awards. 

Notwithstanding any terms or conditions of the Plan to the contrary, (i) Substitute Awards may have substantially the same terms and
conditions, including without limitation provisions relating to vesting, exercise periods, expiration, payment, forfeiture, and the consequences of termination of Service, as the awards that they replace, as determined by the Committee in its sole
discretion, and (ii) Adjusted Awards shall have substantially the same terms and conditions, including without limitation provisions relating to vesting, exercise periods, expiration, payment, forfeiture, and the consequences of termination of
Service, as the awards that they replace which were granted under a CBS Stock Plan. 

  
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 ARTICLE VIII 

EFFECT OF CERTAIN CORPORATE CHANGES 

Section 8.1 Adjustments. 

(a) In the event of a merger, consolidation, acquisition of property or shares, stock rights offering, liquidation, disposition for
consideration of the Company’s direct or indirect ownership of a Subsidiary or Affiliate (including by reason of a Disaffiliation), or similar event affecting the Company or any of its Subsidiaries (each, a “Corporate Transaction”),
the Committee or the Board may in its discretion make such substitutions or adjustments as it deems appropriate and equitable to (i) the aggregate number and kind of shares of Common Stock or other securities reserved for issuance and delivery
under this Plan, (ii) the various maximum limitations set forth in Sections 1.5, 1.6 and 1.7 with respect to certain types of Awards and upon the grants to individuals of certain types of Awards, (iii) the number and
kind of shares of Common Stock or other securities subject to outstanding Awards; and (iv) the exercise price of outstanding Awards. 

(b) In the event of a stock dividend, stock split, reverse stock split, reorganization, share combination, or recapitalization or similar
event affecting the capital structure of the Company, or a Disaffiliation, separation or spin-off, in each case without consideration, or other extraordinary dividend of cash or other property to the Company’s stockholders (each, a
“Share Change”), the Committee or the Board shall make such substitutions or adjustments as it deems appropriate and equitable to (i) the aggregate number and kind of shares of Common Stock or other securities reserved
for issuance and delivery under this Plan, (ii) the various maximum limitations set forth in Sections 1.5, 1.6 and 1.7 upon certain types of Awards and upon the grants to individuals of certain types of Awards,
(iii) the number and kind of shares of Common Stock or other securities subject to outstanding Awards; and (iv) the exercise price of outstanding Awards. 

(c) In the case of a Corporate Transaction, such adjustments may include, without limitation, (i) the cancellation of outstanding Awards
in exchange for payments of cash, property or a combination thereof having an aggregate value equal to the value of such Awards, as determined by the Committee or the Board in its sole discretion (it being understood that in the case of a Corporate
Transaction with respect to which holders of Common Stock receive consideration other than publicly traded equity securities of the ultimate surviving entity, any such determination by the Committee or the Board that the value of a Stock Option or
Stock Appreciation Right shall for this purpose be deemed to equal the excess, if any, of the value of the consideration being paid for each share of Common Stock pursuant to such Corporate Transaction over the exercise price of such Stock Option or
Stock Appreciation Right shall conclusively be deemed valid); (ii) the substitution of other property (including, without limitation, cash or other securities of the Company and securities of entities other than the Company) for the shares of
Common Stock subject to outstanding Awards; and (iii) in connection with any Disaffiliation, arranging for the assumption of Awards, or replacement of Awards with new awards based on other property or other securities (including, without
limitation, other securities of the Company and securities of entities other than the Company), by the affected Subsidiary, Affiliate, or division or by the entity that controls such Subsidiary, Affiliate, or division following such Disaffiliation
(as well as any corresponding adjustments to Awards that remain based upon Company securities). 

  
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 (d) Any adjustments made pursuant to this Article VIII to Awards that are considered
“deferred compensation” within the meaning of Section 409A shall be made in compliance with the requirements of Section 409A of the Code; and any adjustments made pursuant to this Article VIII to Awards that are not
considered “deferred compensation” subject to Section 409A shall be made in such a manner as to ensure that either the Awards, after such adjustments, remain exempt from the application of Section 409A or will not result in the
imposition of any penalty taxes under Section 409A in respect of such Awards. 
 Section 8.2 Separation Agreement. 

For the avoidance of doubt, the transactions contemplated by the Separation Agreement shall not give rise to an adjustment of Awards under
this Article VIII. 
 ARTICLE IX 

DEFERRAL PROVISIONS 
 The
Committee may establish procedures pursuant to which the payment of any Award may be deferred. To the extent an Award or any deferral of the payment of any Award constitutes a deferral of compensation subject to Section 409A, the Committee
shall set forth in writing (which may be in electronic form), on or before the date the applicable deferral election is required to be irrevocable in order to meet the requirements of Section 409A, the conditions under which such election may
be made. The Company’s obligation to pay deferred Awards pursuant to this Article IX shall be reflected on its books as a general, unsecured and unfunded obligation, and the rights of a Participant or his or her designated beneficiary to
receive payments from the Company as a result of a deferral made pursuant to this Article IX are solely those of a general, unsecured creditor. The Company shall not be required to create a trust or otherwise set aside assets in respect of
its obligations hereunder, and a Participant or designated beneficiary shall have no interest whatsoever, vested or contingent, in any particular assets of the Company. 

ARTICLE X 
 MISCELLANEOUS

 Section 10.1 No Rights to Awards or Continued Service. 

Nothing in the Plan or in any Agreement, nor the grant of any Award under the Plan, shall confer upon any individual any right to be employed
or engaged by or to continue in the Service of the Company or any Subsidiary, or to be entitled to any remuneration or benefits not set forth in the Plan or such Agreement, including the right to receive any future Awards under the Plan or any other
plan of the Company or any Subsidiary or interfere with or limit the right of the Company or any Subsidiary to modify the terms of or terminate such individual’s Service at any time for any reason. 

  
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 Section 10.2 Restriction on Transfer. 

The rights of a Participant with respect to any Award shall be exercisable during the Participant’s lifetime only by the
Participant and shall not be transferable by the Participant to whom such Award is granted, except by will or the laws of descent and distribution, provided that the Committee may permit other transferability, subject to any conditions and
limitations that it may, in its discretion, impose. 
 Section 10.3 Foreign Awards and Rights. 

Notwithstanding any provision of the Plan to the contrary, to comply with securities, exchange control, labor, tax or other applicable laws,
rules or regulations in countries outside of the United States in which the Company and its Subsidiaries operate or have Employees, Consultants or directors, and/or for the purpose of taking advantage of tax favorable treatment for Awards granted to
Participants in such countries, the Committee, in its sole discretion, shall have the power and authority to (i) amend or modify the terms and conditions of any Award granted to a Participant; (ii) establish, adopt, interpret, or revise
any rules and procedures to the extent such actions may be necessary or advisable, including adoption of rules, procedures or sub-plans applicable to particular Subsidiaries or Participants residing in particular locations; provided,
however, that no such sub-plans and/or modifications shall increase the share limitations contained in Sections 1.5, 1.6 and 1.7 hereof or otherwise require shareholder approval; and (iii) take any action, before or
after an Award is made, that it deems advisable to obtain approval or comply with any necessary local governmental regulatory exemptions or approvals. Without limiting the generality of the foregoing, the Committee is specifically authorized to
adopt rules, procedures and sub-plans with provisions that limit or modify rights on eligibility to receive an Award under the Plan or on termination of Service, available methods of exercise or settlement of an Award, payment of Tax-Related Items,
the shifting of employer tax liability to the Participant, tax withholding procedures, restrictions on the sale of shares of Common Stock of the Company, and on the handling of any stock certificates or other indicia of ownership. The Committee may
also adopt sub-plans to the Plan intended to allow the Company to grant tax-qualified Awards in a particular jurisdiction and, as part of such sub-plan, may modify Article VIII of the Plan to the extent necessary to comply with the tax
requirements of the jurisdiction. Notwithstanding the foregoing, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate the U.S. Securities Act of 1933, as amended, the Exchange Act, the Code, any
securities law or governing statute. 
 Section 10.4 Taxes. 

The Company or any Subsidiary shall have the authority and right to deduct or withhold or require a Participant to remit to the Company or any
Subsidiary, an amount sufficient to satisfy Tax-Related Items with respect to any taxable event concerning a Participant arising as a result of the Plan or to take such other action as may be necessary in the opinion of the Company or a Subsidiary,
as appropriate, to satisfy withholding obligations for the payment of Tax-Related Items, including but not limited to (i) withholding from the Participant’s wages or other cash compensation; (ii) withholding from the proceeds for the
sale of shares of Common Stock of the Company underlying the Award either through a voluntary sale or a mandatory sale arranged by the Company on the Participant’s behalf; (iii) withholding taxes through a net share settlement


  
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procedure or through a “cashless exercise” procedure as described in Section 2.4; or (iv) in the Committee’s sole discretion and in satisfaction of the foregoing
requirement withhold shares of Common Stock of the Company otherwise issuable under an Award (or allow the return of shares of Common Stock) having a Fair Market Value equal to the sums required to be withheld. To avoid negative accounting
treatment, the number of shares of Common Stock of the Company which may be withheld with respect to the issuance, vesting, exercise or payment of any Award or which may be repurchased from the Participant of such Award in order to satisfy the
Participant’s Tax-Related Items liabilities with respect to the issuance, vesting, exercise or payment of the Award may be limited to the number of shares of Common Stock which have a Fair Market Value on the date of withholding or repurchase
equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates or other applicable minimum withholding rates. No shares of Common Stock of the Company shall be delivered hereunder to any Participant or other
person until the Participant or such other person has made arrangements acceptable to the Company for the satisfaction of the Tax-Related Items withholding obligations with respect to any taxable event concerning the Participant or such other person
arising as a result of the Plan. To the extent permitted by the Committee, any Participant who makes an election under Section 83(b) of the Code to have his or her Award taxed in accordance with such election must give notice to the Company of
such election immediately upon making a valid election in accordance with the rules and regulations of the Code. Any such election must be made in accordance with the rules and regulations of the Code. 

Section 10.5 Stockholder Rights. 

No Award under the Plan shall entitle a Participant or a Participant’s beneficiary, estate or permitted transferee to any rights of a
holder of the shares of Common Stock of the Company subject to any Award until the Participant, the Participant’s beneficiary or estate or the permitted transferee is registered on the books and records of the Company as a stockholder with
respect to such shares (or, where shares are permitted to be held in “street” name by a broker designated by a Participant or a Participant’s beneficiary, estate or permitted transferee, until such broker has been so registered). 

Section 10.6 No Restriction on Right of Company to Effect Corporate Changes. 

The Plan shall not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments,
recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any delivery of stock or of options, warrants or rights to purchase stock or of bonds,
debentures, preferred or prior preference stock whose rights are superior to or affect the Common Stock or the rights thereof or which are convertible into or exchangeable for Common Stock, or the dissolution or liquidation of the Company, or any
sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

  
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 Section 10.7 Source of Payments. 

It is intended that this Plan constitute an “unfunded” plan for incentive and deferred compensation. Accordingly, the general
funds of the Company shall be the sole source of cash settlements of Awards under the Plan and the Company shall not have any obligation to establish any separate fund or trust or other segregation of assets to provide for payments under the Plan.
Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship, between the Company and a Participant or any other person. To the extent a
person acquires any rights to receive payments hereunder from the Company, such rights shall be no greater than those of an unsecured creditor. Notwithstanding the foregoing, the Committee may authorize the creation of trusts or other arrangements
to meet the obligations created under this Plan to deliver Common Stock or make payments; provided, however, that unless the Committee otherwise determines, the existence of such trusts or other arrangements shall be consistent with
the “unfunded” status of this Plan. 
 Section 10.8 Exercise Periods Following Termination of Service. 

For the purposes of determining the dates on which Awards may be exercised following a termination of Service or following death or Permanent
Disability of a Participant, the day following the date of such event shall be the first day of the exercise period and the Award may be exercised up to and including the last Trading Day falling within the exercise period. Thus, if the last day of
the exercise period is not a Trading Day, the last date an Award may be exercised is the last Trading Day before the end of the exercise period. 

Section 10.9 Breach of Agreements. 

The Committee may include in any Agreement a provision authorizing the Company to recover from a Participant Awards and/or amounts realized
upon exercise, payment or settlement, as the case may be, of Awards made under the Plan in such circumstances as the Committee may prescribe in its discretion. 

Section 10.10 Service with Subsidiary. 

Unless the Committee has determined or determines otherwise, the Service of a Participant who works for a Subsidiary shall terminate, for Plan
purposes, on the date on which the Participant’s employing company ceases to be a Subsidiary. 
 Section 10.11
Section 409A. 
 The intent of the parties is that payments and the settlement of Awards under the Plan comply with
Section 409A and, accordingly, to the maximum extent permitted, the Plan shall be interpreted to be in compliance therewith. Each payment under any Award that constitutes non-qualified deferred compensation subject to Section 409A shall be
treated as a separate payment for purposes of Section 409A. In no event may a Participant, directly or indirectly, designate the calendar year of any payment to be made under any Award that constitutes non-qualified deferred compensation
subject to Section 409A except in accordance with Section 409A. 
 Notwithstanding anything herein to the contrary, if a
Participant is deemed on the date of his or her “separation from service” (as determined by the Company pursuant to Section 409A) to be one of the Company’s “specified employees” (as determined by the Company pursuant
to Section 409A), and any portion of the Participant’s Awards that constitutes deferred compensation within the meaning of Section 409A is scheduled to be paid or settled, as the case 


  
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may be, upon the Participant’s separation from service or during the six-month period thereafter, then such payment or settlement, as the case may be, shall not occur prior to the earlier of
(i) the six-month anniversary of the date of the Participant’s separation from service or (ii) the date of the Participant’s death (the “Delay Period”). All payments and settlements delayed pursuant to
this Section 10.11 shall be paid or settled, as the case may be, within 30 days following the end of the Delay Period, less any applicable withholdings, and any remaining payments and settlements regularly scheduled to occur after the
end of the Delay Period shall be paid or distributed in accordance with the payment or settlement schedule specified for them. In no event shall the Company or any of its Subsidiaries be liable for any tax, interest or penalties that may be imposed
on a Participant by Section 409A or any damages for failing to comply with Section 409A. 
 Section 10.12 Non-Exempt
Employees. 
 Unless otherwise determined by the Committee, no Option or SAR shall be granted to any Employee who is a “non-exempt
employee” for purposes of the Fair Labor Standards Act of 1938, as amended, which is first exercisable for any shares of Stock within six months following the date of grant of the Option or SAR (although the Award may vest prior to such date).
The foregoing provision is intended to operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of an Option or SAR will be exempt from his or her regular rate of pay, and the provisions of this
Section 10.12 will apply to all such applicable Awards and are hereby incorporated by reference into such Agreements. 

Section 10.13 Electronic Delivery. 

Any reference herein to a written agreement or document will include any agreement or document delivered electronically, filed publicly at
www.sec.gov (or any successor website thereto) and/or posted on a website specified by the Company that the Participant is permitted to access. 

Section 10.14 Exchange Rates. 

Neither the Company nor any Subsidiary shall be liable to a Participant for any foreign exchange rate fluctuation between the
Participant’s local currency and the United States Dollar that may affect the value of the Participant’s Award or of any amounts due to the Participant pursuant to the settlement of the Award or, if applicable, the subsequent sale of any
shares of Common Stock acquired upon settlement. 
 Section 10.15 Third-Party Administration. 

In connection with a Participant’s participation in the Plan, the Company may use the services of a third-party administrator, including
a brokerage firm administrator, and the Company may provide this third-party administrator with personal information about a Participant, including his or her name, social security or other tax identification number and address, as well as the
details of each Award, and this third-party administrator may provide information to the Company and its Subsidiaries concerning the exercise of a Participant’s rights and account data as it relates to the administration of Awards granted under
the Plan. 

  
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 Section 10.16 Registration Restrictions. 

A Stock Option or Stand-Alone SAR shall not be exercisable, no transfer of shares of Common Stock shall be made to any Participant with
respect to any Award, and any attempt to exercise a Stock Option or Stand-Alone SAR to transfer any such shares with respect to any Award shall be void and of no effect, unless and until (i) a registration statement under the Securities Act of
1933, as amended, has been duly filed and declared effective pertaining to the shares of Common Stock subject to such Award, and the shares of Common Stock subject to such Award have been duly qualified under applicable federal or state securities
or blue sky laws or (ii) the Committee, in its discretion, determines, or the Participant, upon the request of the Committee, provides an opinion of counsel satisfactory to the Committee that such registration or qualification is not required.
Without limiting the foregoing, if at any time the Committee shall determine, in its discretion, that the listing, registration or qualification of the shares of Common Stock subject to such Award is required under any federal or state law or on any
securities exchange or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with, delivery or purchase of such shares pursuant to the exercise of an Award, such Award shall not be
exercised or settled in whole or in part unless and until such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee. 

ARTICLE XI 
 AMENDMENT
AND TERMINATION 
 The Board may alter, amend, suspend or terminate the Plan at any time, in whole or in part; provided,
however, that no alteration or amendment will be effective without stockholder approval if such approval is required by law or under the rules of the New York Stock Exchange or other principal stock exchange on which the Common Stock is
listed. No alteration, amendment, suspension or termination of the Plan may, without the consent of the Participant to whom an Award has been made, materially adversely affect the rights of such Participant in such Award. 

Notwithstanding the foregoing or any provision herein to the contrary, the Committee shall have broad authority to amend the Plan or any
outstanding Award under the Plan without the approval of the Participant to the extent the Committee deems necessary or appropriate (i) to comply with, or take into account changes in, applicable tax laws, securities laws, accounting rules and
other applicable laws, rules and regulations; or (ii) to avoid adverse tax consequences to any person under Section 409A with respect to any Award, even if such amendment would otherwise be detrimental to such person. 

ARTICLE XII 

INTERPRETATION 

Section 12.1 Governmental Regulations. 

The Plan, and all Awards hereunder, shall be subject to all applicable rules and regulations of governmental or other authorities, including,
without limitation, any rules or regulations promulgated under or issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

  
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 Section 12.2 Headings. 

The headings of articles and sections herein are included solely for convenience of reference and shall not affect the meaning of any of the
provisions of the Plan. 
 Section 12.3 REIT Status. 

To the extent that the Company is a REIT, (a) the Plan shall be interpreted and construed in a manner consistent with the Company’s
status as a REIT; and (b) no award shall be granted or awarded, and with respect to any award granted under the Plan, such award shall not vest, be exercisable or be settled (i) to the extent that the grant, vesting, exercise or settlement
could cause the Participant or any other person to be in violation of the capital stock ownership limit or aggregate capital stock ownership limit prescribed by the Company’s Articles of Incorporation, as amended from time to time, or
(ii) if, in the discretion of the Committee, the grant, vesting, exercise or settlement of the award could impair the Company’s status as a REIT. 

Section 12.4 Governing Law. 

The Plan and all rights hereunder shall be construed in accordance with and governed by the laws of the State of Maryland. 

ARTICLE XIII 
 EFFECTIVE
DATE AND EXPIRATION DATE 
 Section 13.1 Effective Date. 

The Plan is effective as of March 27, 2014 (the “Effective Date”). 

Section 13.2 Final Date for Awards. 

Unless previously terminated pursuant to Article XI, the Plan shall expire at midnight on the day prior to the tenth
anniversary of the Effective Date (the “Expiration Date”), and no further Awards may be granted under the Plan on or after such date. The Expiration Date will not affect the operation of the terms of the Plan or the
Company’s and Participants’ rights and obligations with respect to Awards granted on or prior to the Expiration Date. 

  
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