EX-4.1



 EXHIBIT 4.1 

WEBMD HEALTH CORP. 

AMENDED AND RESTATED 

2005 LONG-TERM INCENTIVE PLAN 
  

 
 (AS AMENDED
AND RESTATED AS OF OCTOBER 1, 2014) 
  
  

ARTICLE 1 
 PURPOSE

 1.1  General.    The purpose of the WebMD Health Corp. 2005 Long-Term Incentive Plan (as it may
be amended from time to time, the “Plan”) is to promote the success, and enhance the value, of WebMD Health Corp., a Delaware Corporation (the “Corporation”), by linking the personal interests of its employees, officers,
directors and consultants to those of Corporation shareholders and by providing such persons with an incentive for outstanding performance. The Plan is further intended to provide flexibility to the Corporation in its ability to motivate, attract
and retain the services of employees, officers, directors and consultants upon whose judgment, interest and special effort the successful conduct of the Corporation’s operation is largely dependent. Accordingly, the Plan permits the grant of
incentive awards from time to time to selected employees and officers, directors and consultants. 
 ARTICLE 2 

EFFECTIVE DATE 

2.1  Effective Date.    The Plan became effective on the date upon which it was initially approved by the
Board and the shareholders of the Corporation, which was September 26, 2005 (the “Effective Date”). This amendment and restatement of the Plan is effective as of October 1, 2014 and reflects the amendments to the Plan approved by
stockholders of the Corporation on October 1, 2014 and all prior amendments. 
 ARTICLE 3 

DEFINITIONS 

3.1  Definitions.    When a word or phrase appears in this Plan with the initial letter capitalized, and
the word or phrase does not commence a sentence and is not otherwise defined in the Plan, the word or phrase shall generally be given the meaning ascribed to it in this Section. The following words and phrases shall have the following meanings: 

(a)  “1933 Act” means the Securities Act of 1933, as amended from time to time. 

(b)  “1934 Act” means the Securities Exchange Act of 1934, as amended from time to time. 

(c)  “Affiliate” means any Parent or Subsidiary and any person that directly, or indirectly through one or
more intermediaries, controls, is controlled by, or is under common control with, the Corporation. 
 (d)  [intentionally
omitted] 
 (e)  “Award” means any Option, Stock Appreciation Right, Restricted Stock Award,
Performance Share Award, Dividend Equivalent Award or Other Stock-Based Award, or any other right or interest relating to Stock or cash, granted to a Participant under the Plan. 

(f)  “Award Agreement” means any written agreement, contract or other instrument or document evidencing an
Award. 
 (g)  “Board” means the Board of Directors of the Corporation. 







 (h)  “Cause” as a reason for a Participant’s termination
of employment or service shall have the meaning assigned such term in the employment agreement, if any, between such Participant and the Corporation or an affiliated company, provided, however, that if there is no such employment
agreement in which such term is defined, “Cause” shall mean any of the following acts by the Participant, as determined by the Board: gross neglect of duty, prolonged absence from duty without the consent of the Corporation, intentionally
engaging in any activity that is in conflict with or adverse to the business or other interests of the Corporation, or willful misconduct, misfeasance or malfeasance of duty which is reasonably determined to be detrimental to the Corporation. 

(i)  “Change of Control” means and includes the occurrence of any one of the following events: 

(i)  individuals who, at the effective date of the Initial Public Offering, 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 after the Effective Date and whose election or nomination for election was approved by a vote of at least a
majority of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Corporation in which such person is named as a nominee for director, without written objection to such nomination) shall be
an Incumbent Director; provided, however, that no individual initially elected or nominated as a director of the Corporation as a result of an actual or threatened election contest (as described in
Rule 14a-11 under the 1934 Act (“Election Contest”)) or other actual or threatened solicitation of proxies or consents by or on behalf of any “person” (as such term is defined in
Section 3(a)(9) of the 1934 Act and as used in Section 13(d)(3) and 14(d)(2) of the 1934 Act) other than the Board (“Proxy Contest”), including by reason of any agreement intended to avoid or settle any Election Contest
or Proxy Contest, shall be deemed an Incumbent Director; 
 (ii)  any person becomes a “beneficial owner”
(as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of securities of the Corporation representing 50% or more of the combined voting power of the Corporation’s then
outstanding securities eligible to vote for the election of the Board (the “Corporation Voting Securities”); provided, however, that the event described in this paragraph (ii) shall not be deemed to be a Change of
Control of the Corporation by virtue of any of the following acquisitions: (A) any acquisition by a person who is on the Effective Date the beneficial owner of 50% or more of the outstanding Corporation Voting Securities, (B) an
acquisition by the Corporation which reduces the number of Corporation Voting Securities outstanding and thereby results in any person acquiring beneficial ownership of more than 50% of the outstanding Corporation Voting Securities, provided
that if after such acquisition by the Corporation such person becomes the beneficial owner of additional Corporation Voting Securities that increase the percentage of outstanding Corporation Voting Securities beneficially owned by such person, a
Change of Control of the Corporation shall then occur, (C) an acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Corporation or any Parent or Subsidiary, (D) an acquisition by an underwriter
temporarily holding securities pursuant to an offering of such securities or (E) an acquisition pursuant to a Non-Qualifying Transaction (as defined in paragraph (iii)); or 

(iii)  the consummation of a reorganization, merger, consolidation, statutory share exchange or similar form of
corporate transaction involving the Corporation that requires the approval of the Corporation’s stockholders, whether for such transaction or the issuance of securities in the transaction (a “Reorganization”), or the sale or other
disposition of all or substantially all of the Corporation’s assets to an entity that is not an affiliate of the Corporation (a “Sale”), unless immediately following such Reorganization or Sale: (A) more than 50% of the total
voting power of (x) the corporation resulting from such Reorganization or the corporation which has acquired all or substantially all of the assets of the Corporation (in either case, the “Surviving Corporation”) or (y) if
applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of 100% of the voting securities eligible to elect directors of the Surviving Corporation (the “Parent Corporation”), is represented by the

  
 WEBMD 2005 LONG-TERM
INCENTIVE PLAN — 
 AS AMENDED AND
RESTATED AS OF OCTOBER 1, 2014 

  
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Corporation Voting Securities that were outstanding immediately prior to such Reorganization or Sale (or, if applicable, is represented by shares into which such Corporation Voting Securities
were converted pursuant to such Reorganization or Sale), and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Corporation Voting Securities among the holders thereof immediately prior to
the Reorganization or Sale, (B) no person (other than (x) the Corporation, (y) any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation or (z) a person who
immediately prior to the Reorganization or Sale was the beneficial owner of 25% or more of the outstanding Corporation Voting Securities) is the beneficial owner, directly or indirectly, of 25% or more of the total voting power of the outstanding
voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) and (C) at least a majority of the members of the board of directors of the Parent Corporation (or, if
there is no Parent Corporation, the Surviving Corporation) following the consummation of the Reorganization or Sale were Incumbent Directors at the time of the Board’s approval of the execution of the initial agreement providing for such
Reorganization or Sale (any Reorganization or Sale which satisfies all of the criteria specified in (A), (B) and (C) above shall be deemed to be a “Non-Qualifying Transaction”). 

Notwithstanding the foregoing, with respect to an Award that is subject to Section 409A of the Code, and payment or
settlement of such Award is to be accelerated in connection with an event that would otherwise constitute a Change of Control, no event set forth in clause (i), (ii) or (iii) will constitute a Change of Control for purposes of the
Plan and any Award Agreement unless such event also constitutes a “change in the ownership”, “change in the effective control” or “change in the ownership of a substantial portion of the assets” of the Corporation as
defined under Section 409A of the Code and the Treasury guidance promulgated thereunder. 

(j)  “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rulings and
regulations promulgated thereunder. 
 (k)  “Committee” means, subject to the last sentence of
Section 4.1, the committee of the Board described in Article 4. 
 (l)  “Covered Employee”
means a covered employee as defined in Section 162(m)(3) of the Code, provided that no employee shall be a Covered Employee until the deduction limitations of Section 162(m) of the Code are applicable to the Corporation and any
reliance period under Treasury Regulation Section 1.162-27(f) has expired. 
 (m)  “Disability”
has the meaning ascribed under the long-term disability plan applicable to the Participant. Notwithstanding the above, (i) with respect to an Incentive Stock Option, Disability shall mean Permanent and Total Disability as defined in
Section 22(e)(3) of the Code and (ii) to the extent an Award is subject to Section 409A of the Code, and payment or settlement of the Award is to be accelerated solely as a result of the Participant’s Disability, Disability shall
have the meaning ascribed thereto under Section 409A of the Code and the Treasury guidance promulgated thereunder. 

(n)  “Dividend Equivalent” means a right granted to a Participant under Article 11. 

(o)  “Effective Date” has the meaning assigned such term in Section 2.1. 

(p)  “Fair Market Value”, on any date, means (i) if the Stock is listed on a securities exchange or is
traded over the Nasdaq National Market, the closing sales price on such exchange or over such system on such date or, in the absence of reported sales on such date, the closing sales price on the immediately preceding date on which sales were
reported or (ii) if the Stock is not listed on a securities exchange or traded over the Nasdaq National Market, Fair Market Value will be determined by such other method as the Committee determines in good faith to be reasonable; provided,
however, that if the Stock underlying an Award is sold on the same day as the date of exercise or settlement or the date on which the restrictions 
  

WEBMD 2005 LONG-TERM INCENTIVE PLAN — 

AS AMENDED AND RESTATED AS OF
OCTOBER 1, 2014 

  
 PAGE 3









 
lapse applicable to Restricted Stock or similar Award through a broker approved by the Corporation, Fair Market Value shall be the actual sale price of the Stock in such transaction or
transactions. With respect to awards granted on the effective date of the Corporation’s Initial Public Offering, Fair Market Value shall mean the price at which the Stock is initially offered in the Initial Public Offering. 

(q)  “HLTH Corporation” means HLTH Corporation, a Delaware corporation (which was formerly known as Emdeon
Corporation). 
 (r)  “Incentive Stock Option” means an Option that is intended to meet the requirements
of Section 422 of the Code or any successor provision thereto. 
 (s)  “Initial Public Offering”
means the underwritten initial public offering of equity securities of the Corporation pursuant to an effective registration statement under the 1933 Act. 

(t)  “Non-Employee Director” means a member of the Board who is not an employee of the Corporation or any
Parent or Affiliate. 
 (u)  “Non-Qualified Stock Option” means an Option that is not an Incentive Stock Option. 

(v)  “Option” means a right granted to a Participant under Article 7 to purchase Stock at a specified
price during specified time periods. An Option may be either an Incentive Stock Option or a Non-Qualified Stock Option. 

(w)  “Other Stock-Based Award” means a right, granted to a Participant under Article 12, that relates
to or is valued by reference to Stock or other Awards relating to Stock. 
 (x)  “Parent” means a
corporation which owns or beneficially owns a majority of the outstanding voting stock or voting power of the Corporation. Notwithstanding the above, with respect to an Incentive Stock Option, Parent shall have the meaning set forth in
Section 424(e) of the Code. 
 (y)  “Participant” means a person who, as an employee, officer,
consultant or director of the Corporation or any Parent, Subsidiary or Affiliate, has been granted an Award under the Plan. 

(z)  “Performance Share” means a right granted to a Participant under Article 9, to receive cash,
Stock, or other Awards, the payment of which is contingent upon achieving certain performance goals established by the Committee. 

(aa)  “Restricted Stock Award” means Stock granted to a Participant under Article 10 that is subject
to certain restrictions and to risk of forfeiture. 
 (bb)  “Stock” means the $.01 par value common stock
of the Corporation (which, beginning immediately following the completion of the merger of HLTH Corporation into the Corporation on October 23, 2009, was no longer referred to as “Class A” and, while otherwise unchanged, began being
referred to as “$.01 par value common stock” of the Corporation) and such other securities of the Corporation as may be substituted for Stock pursuant to Article 15. 

(cc)  “Stock Appreciation Right” or “SAR” means a right granted to a Participant under
Article 8 to receive a payment equal to the difference between the Fair Market Value of a share of Stock as of the date of exercise of the SAR over the grant price of the SAR, all as determined pursuant to Article 8. 

(dd)  “Subsidiary” means any corporation, limited liability company, partnership or other entity of which a
majority of the outstanding voting equity securities or voting power is beneficially owned directly or indirectly by the Corporation. Notwithstanding the above, with respect to an Incentive Stock Option, Subsidiary shall have the meaning set forth
in Section 424(f) of the Code. 
  
 WEBMD 2005
LONG-TERM INCENTIVE PLAN — 
 AS AMENDED
AND RESTATED AS OF OCTOBER 1, 2014 

  
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 ARTICLE 4 

ADMINISTRATION 

4.1  Committee.    The Plan shall be administered by a committee (the “Committee”) appointed by
the Board (which Committee shall consist of two or more directors) or, at the discretion of the Board from time to time, the Plan may be administered by the Board. It is intended that the directors appointed to serve on the Committee shall be
“non-employee directors” (within the meaning of Rule 16b-3 promulgated under the 1934 Act) and “outside directors” (within the meaning of Section 162(m) of the Code) to the
extent that Rule 16b-3 and, if necessary for relief from the limitation under Section 162(m) of the Code and such relief is sought by the Corporation, Section 162(m) of the Code, respectively,
are applicable. However, the mere fact that a Committee member shall fail to qualify under either of the foregoing requirements shall not invalidate (a) any Award made by the Committee which Award is otherwise validly made under the Plan or
(b) any other action taken by the Committee which action is otherwise validly taken under the Plan. The members of the Committee shall be appointed by, and may be changed at any time and from time to time in the discretion of, the Board. During
any time that the Board is acting as administrator of the Plan, it shall have all the powers of the Committee hereunder, and any reference herein to the Committee (other than in this Section 4.1) shall include the Board. 

4.2  Action by the Committee.    For purposes of administering the Plan, the following rules of procedure
shall govern the Committee. A majority 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, and acts approved unanimously in writing by the members of the Committee in
lieu of a meeting, shall be deemed the acts of the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Corporation
or any Parent or Affiliate, the Corporation’s independent certified public accountants, or any executive compensation consultant or other professional retained by the Corporation to assist in the administration of the Plan. 

4.3  Authority of Committee.    Except as provided below, the Committee has the exclusive power, authority
and discretion to: 
 (a)  Designate Participants; 

(b)  Determine the type or types of Awards to be granted to each Participant; 

(c)  Determine the number of Awards to be granted and the number of shares of Stock to which an Award will relate;

 (d)  Determine the terms and conditions of any Award granted under the Plan, including, but not limited to, the
exercise price, grant price or purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, based in each
case on such considerations as the Committee in its sole discretion determines; provided, however that any Awards of (i) Restricted Stock or Other Stock-Based Award for which no purchase or exercise price is payable will be scheduled to vest
over a period of no less than three years where such vesting is not tied to the attainment of performance goals and (ii) Performance Share Awards, Restricted Stock or Other Stock-Based Awards for which no purchase or exercise price is payable
will be scheduled to vest over a period of no less than one year where such vesting is tied to the attainment of performance goals; provided, that, notwithstanding the foregoing, such vesting schedule will not be required for grants of Stock to
Non-Employee Directors made to satisfy applicable Board of Director or Committee retainers or fees; 

(e)  Accelerate the vesting or lapse of restrictions of any outstanding Award, based in each case on such
considerations as the Committee in its sole discretion determines; 
 (f)  Determine whether, to what extent, and
under what circumstances an Award may be settled in, or the exercise price of an Award may be paid in, cash, Stock, other Awards or other property, or an Award may be canceled, forfeited or surrendered; 

 
 WEBMD 2005 LONG-TERM
INCENTIVE PLAN — 
 AS AMENDED AND
RESTATED AS OF OCTOBER 1, 2014 

  
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 (g)  Prescribe the form of each Award Agreement, which need not be
identical for each Participant, or amend any Award Agreement; 
 (h)  Decide all other matters that must be determined in
connection with an Award; 
 (i)  Establish, adopt or revise any rules and regulations as it may deem necessary or
advisable to administer the Plan; 
 (j)  Make all other decisions and determinations that may be required under
the Plan or as the Committee deems necessary or advisable to administer the Plan; and 
 (k)  Amend the Plan as provided
herein. 
 Notwithstanding the foregoing authority, except as provided in or pursuant to Article 15, the Committee shall
not authorize, generally or in specific cases only, for the benefit of any Participant, any adjustment in the exercise price of an Option or the base price of a Stock Appreciation Right, or in the number of shares subject to an Option or Stock
Appreciation Right granted hereunder by (i) cancellation of an outstanding Option or Stock Appreciation Right and a subsequent regranting of an Option or Stock Appreciation Right, (ii) amendment to an outstanding Option or Stock
Appreciation Right, (iii) substitution of an outstanding Option or Stock Appreciation Right or (iv) any other action that would be deemed to constitute a repricing of such an Award under applicable law, in each case, without prior approval
of the Corporation’s stockholders. 
 4.4  Delegation of Authority.    To the extent not prohibited
by applicable laws, rules and regulations, the Board or the Committee may, from time to time, delegate some or all of its authority under the Plan to a subcommittee or subcommittees thereof or to one or more directors or executive officers of the
Corporation as it deems appropriate under such conditions or limitations as it may set at the time of such delegation or thereafter, except that neither the Board nor the Committee may delegate its authority pursuant to Article 16 to amend the
Plan. For purposes of the Plan, references to the Committee shall be deemed to refer to any subcommittee, subcommittees, directors or executive officers to whom the Board or the Committee delegates authority pursuant to this Section 4.4. 

4.5  Decisions Binding.    The Committee’s interpretation of the Plan, any Awards granted under the
Plan, any Award Agreement and all decisions and determinations by the Committee with respect to the Plan are final, binding and conclusive on all parties. 

ARTICLE 5 
 SHARES
SUBJECT TO THE PLAN 
 5.1  Number of Shares.    Subject to adjustment as provided in
Article 15, the aggregate number of shares of Stock reserved and available for Awards or which may be used to provide a basis of measurement for or to determine the value of an Award (such as with a Stock Appreciation Right or Performance Share
Award) shall be 23,275,000 shares (the “Maximum Number”). Not more than the Maximum Number of shares of Stock shall be granted in the form of Incentive Stock Options. Subject to Section 5.2, (a) not more than 20% of the shares of
Stock available for issuance under the Plan on October 21, 2010 were available for the grant of Restricted Stock Awards, Performance Share Awards and similar Awards for which no purchase or exercise price is paid (“Full Value
Awards”); and (b) not more than 20% of the 5,075,000 shares of Stock added to the Plan since July 24, 2012 may be granted as Full Value Awards (the sum of the amounts remaining available for Full Value Awards under clauses (a) and (b) of this
sentence, as of any date after July 24, 2012, being referred to as the “Full Value Award Limit”). 
 5.2  Lapsed
Awards.    To the fullest extent permissible under Section 422 of the Code and any other applicable laws, rules and regulations, (i) if an Award is canceled, terminates, expires, is forfeited or lapses for any
reason without having been exercised or settled, any shares of Stock subject to the Award will be added back into the Maximum Number and will again be available for the grant of an Award under the Plan and (ii) shares of Stock subject to SARs
or other Awards settled in cash shall be added back into the Maximum Number and will 
  

WEBMD 2005 LONG-TERM INCENTIVE PLAN — 

AS AMENDED AND RESTATED AS OF
OCTOBER 1, 2014 

  
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be available for the grant of an Award under the Plan;  provided, however, that any shares of Stock underlying Full Value Awards that are added back into the Maximum Number
pursuant to this Section 5.2 shall increase the Full Value Award Limit. For the sake of clarity, shares tendered or withheld to satisfy the exercise price or tax withholding obligations arising in connection with the exercise or vesting of an
Award (including in connection with a “net exercise” as contemplated by Section 7.1(c)) shall not be added back into the Maximum Number and shall not be available for further grant. 

5.3  Stock Distributed.    Any Stock distributed pursuant to an Award may consist, in whole or in part, of
authorized and unissued Stock, treasury Stock or Stock purchased on the open market. 
 5.4  Limitation on
Awards.    Notwithstanding any provision in the Plan to the contrary (but subject to adjustment as provided in Article 15), the maximum number of shares of Stock with respect to one or more Options and/or SARs that may
be granted during any one calendar year under the Plan to any one Participant shall be 412,500 (all of which may be granted as Incentive Stock Options); provided, however, that in connection with his or her initial employment with the
Corporation, a Participant may be granted Options or SARs with respect to up to an additional 412,500 shares of Stock (all of which may be granted as Incentive Stock Options), which shall not count against the foregoing annual limit. The
maximum Fair Market Value (measured as of the date of grant) of any Awards other than Options and SARs that may be received by any one Participant (less any consideration paid by the Participant for such Award) during any one calendar year under the
Plan shall be $5,000,000. The maximum number of shares of Stock that may be subject to one or more Performance Share Awards (or used to provide a basis of measurement for or to determine the value of Performance Share Awards) in any one calendar
year to any one Participant (determined on the date of grant) shall be 412,500. 
 ARTICLE 6 

ELIGIBILITY 

6.1  General.    Awards may be granted only to individuals who are employees, officers, directors or
consultants of the Corporation or a Parent or an Affiliate. In the discretion of the Committee, Awards may be made to Covered Employees which are intended to constitute qualified performance-based compensation under Section 162(m) of the Code.

 ARTICLE 7 

STOCK OPTIONS 

7.1  General.    The Committee is authorized to grant Options to Participants on the following terms and
conditions: 
 (a)  Exercise Price.    The exercise price per share of Stock under an
Option shall be determined by the Committee at the time of the grant but in no event shall the exercise price be less than 100% of the Fair Market Value of a share of Stock on the date of grant. 

(b)  Time and Conditions of Exercise.    The Committee shall determine the time or times
at which an Option may be exercised in whole or in part, subject to Section 7.1(e) and 7.3. The Committee also shall determine the performance or other conditions, if any, that must be satisfied before all or part of an Option may be exercised.
The Committee may waive any exercise provisions at any time in whole or in part based upon factors as the Committee may determine in its sole discretion so that the Option becomes exerciseable at an earlier date. 

(c)  Payment.    Unless otherwise determined by the Committee, the exercise price of an
Option may be paid (i) in cash, (ii) by actual delivery or attestation to ownership of freely transferable shares of stock already owned; (iii) by a combination of cash and shares of Stock equal in value to the exercise price or
(iv) by such other means as the Committee, in its discretion, may authorize. In accordance with the rules and 
  

WEBMD 2005 LONG-TERM INCENTIVE PLAN — 

AS AMENDED AND RESTATED AS OF
OCTOBER 1, 2014 

  
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procedures authorized by the Committee for this purpose, an Option may, if the Committee so determines also be exercised through either or both of the following: (i) a “cashless
exercise” procedure authorized by the Committee that permits Participants to exercise Options by delivering a properly executed exercise notice to the Corporation together with a copy of irrevocable instructions to a broker to deliver promptly
to the Corporation the amount of sale or loan proceeds necessary to pay the exercise price and the amount of any required tax or other withholding obligations or (ii)  a “net exercise” arrangement pursuant to which the
Corporation will reduce the number of shares of Stock issued upon exercise by that number of shares of Stock having a Fair Market Value equal to the aggregate exercise price. 

(d)  Evidence of Grant.    All Options shall be evidenced by a written Award Agreement
between the Corporation and the Participant. The Award Agreement shall include such provisions not inconsistent with the Plan as may be specified by the Committee. 

(e)  Exercise Term.    In no event may any Option be exercisable for more than ten years
from the date of its grant. 
 7.2  Incentive Stock Options.    The terms of any Incentive Stock Options
granted under the Plan must comply with the following additional rules: 
 (a)  Lapse of
Option.    An Incentive Stock Option shall lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Incentive Stock Option under the
circumstances described in paragraphs (3), (4) and (5) below, provide in writing that the Option will extend until a later date, but if an Option is exercised after the dates specified in paragraphs (3), (4) and
(5) below, it will automatically become a Non-Qualified Stock Option: 
 (1)  The Incentive Stock Option shall
lapse as of the option expiration date set forth in the Award Agreement. 
 (2)  The Incentive Stock Option shall
lapse ten years after it is granted, unless an earlier time is set in the Award Agreement. 
 (3)  If the
Participant terminates employment for any reason other than as provided in paragraph (4) or (5) below, the Incentive Stock Option shall lapse, unless it is previously exercised, three months after the Participant’s termination of
employment; provided, however, that if the Participant’s employment is terminated by the Corporation for Cause, the Incentive Stock Option shall (to the extent not previously exercised) lapse immediately. 

(4)  If the Participant terminates employment by reason of his Disability, the Incentive Stock Option shall lapse,
unless it is previously exercised, one year after the Participant’s termination of employment. 
 (5)  If the
Participant dies while employed, or during the three-month period described in paragraph (3) or during the one-year period described in paragraph (4) and before the Option otherwise lapses, the Option shall lapse one year after
the Participant’s death. Upon the Participant’s death, any exercisable Incentive Stock Options may be exercised by the Participant’s beneficiary, determined in accordance with Section 14.5. 

Unless the exercisability of the Incentive Stock Option is accelerated as provided in Article 14, if a Participant exercises an Option
after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Participant’s termination of employment. 

(b)  Individual Dollar Limitation.    The aggregate Fair Market Value (determined as of
the time an Award is made) of all shares of Stock with respect to which Incentive Stock Options are first exercisable by a Participant in any calendar year may not exceed $100,000.00. 

(c)  Ten Percent Owners.    No Incentive Stock Option shall be granted to any individual
who, at the date of grant, owns stock possessing more than ten percent of the total combined voting power of all classes 
  

WEBMD 2005 LONG-TERM INCENTIVE PLAN — 

AS AMENDED AND RESTATED AS OF
OCTOBER 1, 2014 

  
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of stock of the Corporation or any Parent or Affiliate unless the exercise price per share of such Option is at least 110% of the Fair Market Value per share of Stock at the date of grant and the
Option expires no later than five years after the date of grant. 
 (d)  Expiration of Incentive Stock
Options.    No Award of an Incentive Stock Option may be made pursuant to the Plan after the day immediately prior to the tenth anniversary of the Effective Date. 

(e)  Right to Exercise.    During a Participant’s lifetime, an Incentive Stock Option
may be exercised only by the Participant or, in the case of the Participant’s Disability, by the Participant’s guardian or legal representative. 

(f)  Directors.    The Committee may not grant an Incentive Stock Option to a non-employee
director. The Committee may grant an Incentive Stock Option to a director who is also an employee of the Corporation or any Parent or Affiliate but only in that individual’s position as an employee and not as a director. 

7.3  Options Granted to Non-Employee Directors.    Notwithstanding the foregoing, Options granted to
Non-Employee Directors under this Article 7 shall be subject to the following additional terms and conditions: 

(a)  Lapse of Option.    An Option granted to a Non-Employee Director under this
Article 7 shall lapse under the earliest of the following circumstances: 
 (1)  The Option shall lapse as of
the option expiration date set forth in the Award Agreement. 
 (2)  If the Participant ceases to serve as a member
of the Board for any reason other than as provided in the proviso to this paragraph (2), the Option shall lapse, unless it is previously exercised, three years after the Participant’s termination as a member of the Board; provided,
however, that if the Participant is removed for cause (determined in accordance with the Corporation’s bylaws, as amended from time to time), the Option shall (to the extent not previously exercised) lapse immediately. If the Participant dies
during the post termination exercise period specified above and before the Option otherwise lapses, the Option shall lapse one year after the Participant’s death, if later than the end of the three year period. Upon the Participant’s
death, any exercisable Options may be exercised by the Participant’s beneficiary, determined in accordance with Section 14.5. 

If a Participant exercises Options after termination of his service on the Board, he may exercise the Options only with respect
to the shares that were otherwise exercisable on the date of termination of his service on the Board. Such exercise otherwise shall be subject to the terms and conditions of this Article 7. 

(b)  Acceleration Upon Change of Control.    Notwithstanding Section 7.1(b), in the
event of a Change of Control, each Option granted to a Non-Employee Director under this Article 7 that is then outstanding immediately prior to such Change of Control shall become immediately vested and exercisable in full on the date of such
Change of Control. 
 ARTICLE 8 

STOCK APPRECIATION RIGHTS 

8.1  Grant of Stock Appreciation Rights.    The Committee is authorized to grant Stock Appreciation
Rights to Participants on the following terms and conditions: 
 (a)  Right to
Payment.    Upon the exercise of a Stock Appreciation Right, the Participant to whom it is granted has the right to receive the excess, if any, of: 

(1)  The Fair Market Value of one share of Stock on the date of exercise; over 

(2)  The grant price of the Stock Appreciation Right as determined by the Committee, which shall not be less than the
Fair Market Value of one share of Stock on the date of grant. 
  

WEBMD 2005 LONG-TERM INCENTIVE PLAN — 

AS AMENDED AND RESTATED AS OF
OCTOBER 1, 2014 

  
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 (b)  Other Terms.    All awards of Stock
Appreciation Rights shall be evidenced by an Award Agreement. The terms, the period in which the Stock Appreciation Right may be exercised (subject to Section 8.1(c) below), the methods of exercise, the methods of settlement, the form of
consideration payable in settlement, and any other terms and conditions of any Stock Appreciation Right shall be determined by the Committee at the time of the grant of the Award and shall be reflected in the Award Agreement. 

(c)  Exercise Period.    In no event may a Stock Appreciation Right be exercisable for
more than ten years from the date of its grant. 
 ARTICLE 9 

PERFORMANCE SHARES 

9.1  Grant of Performance Shares.  The Committee is authorized to grant Performance Shares to Participants on such
terms and conditions as may be selected by the Committee, subject to Section 4.3(d). The Committee shall have the complete discretion to determine the number of Performance Shares granted to each Participant, subject to Section 5.4. All
Awards of Performance Shares shall be evidenced by an Award Agreement. 
 9.2  Right to Payment.    A
grant of Performance Shares gives the Participant rights, valued as determined by the Committee, and payable to, or exercisable by, the Participant to whom the Performance Shares are granted, in whole or in part, as the Committee shall establish at
grant or thereafter. The Committee shall set performance goals and other terms or conditions to payment of the Performance Shares in its discretion which, depending on the extent to which they are met, will determine the number and value of
Performance Shares that will be paid to the Participant. 
 9.3  Other Terms.    Performance Shares may
be payable in cash, Stock or other property, and have such other terms and conditions as determined by the Committee and reflected in the Award Agreement. 

ARTICLE 10 

RESTRICTED STOCK AWARDS 

10.1  Grant of Restricted Stock.    The Committee is authorized to make Awards of Restricted Stock to
Participants in such amounts and subject to such terms and conditions as may be selected by the Committee, subject to Section 4.3(d). All Awards of Restricted Stock shall be evidenced by a Restricted Stock Award Agreement. 

10.2  Issuance and Restrictions.  Restricted Stock shall be subject to such restrictions on transferability and
other restrictions as the Committee may impose (including, without limitation, limitations on the right to vote Restricted Stock or the right to receive dividends on the Restricted Stock). These restrictions may lapse separately or in combination at
such times, under such circumstances, in such installments, upon the satisfaction of performance goals or otherwise, as the Committee determines at the time of the grant of the Award or thereafter. 

10.3  Forfeiture.    Except as otherwise determined by the Committee at the time of the grant of the Award
or thereafter, upon termination of employment during the applicable restriction period or upon failure to satisfy a performance goal during the applicable restriction period, Restricted Stock that is at that time subject to restrictions shall be
forfeited and reacquired by the Corporation; provided, however, that the Committee may provide in any Award Agreement that restrictions or forfeiture conditions relating to Restricted Stock will be waived in whole or in part in the
event of terminations resulting from specified causes, and the Committee may in other cases waive in whole or in part restrictions or forfeiture conditions relating to Restricted Stock. 

10.4  Certificates for Restricted Stock.    Restricted Stock granted under the Plan may be evidenced in
such manner as the Committee shall determine. If certificates representing shares of Restricted Stock are registered in the name of the Participant, certificates must bear an appropriate legend referring to the terms, conditions and restrictions
applicable to such Restricted Stock. 
  
 WEBMD 2005
LONG-TERM INCENTIVE PLAN — 
 AS AMENDED
AND RESTATED AS OF OCTOBER 1, 2014 

  
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 ARTICLE 11 

DIVIDEND EQUIVALENTS 

11.1  Grant of Dividend Equivalents.    The Committee is authorized to grant Dividend Equivalents to
Participants subject to such terms and conditions as may be selected by the Committee. Dividend Equivalents shall entitle the Participant to receive payments (in cash, Stock or other property) equal to dividends with respect to all or a portion of
the number of shares of Stock subject to an Award, as determined by the Committee. The Committee may provide that Dividend Equivalents be paid or distributed when accrued, or be deemed to have been reinvested in additional shares of Stock or
otherwise reinvested. The terms of any reinvestment of Dividend Equivalents shall comply with Section 409A of the Code. 

ARTICLE 12 
 OTHER
STOCK-BASED AWARDS 
 12.1 Grant of Other Stock-based Awards.    The Committee is authorized, subject to
limitations under applicable law and Section 4.3(d), to grant to Participants such other Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to shares of Stock, as deemed by the Committee to
be consistent with the purposes of the Plan, including, without limitation, shares of Stock awarded purely as a “bonus” and not subject to any restrictions or conditions, convertible or exchangeable debt securities, other rights
convertible or exchangeable into shares of Stock, stock units, phantom stock and other Awards valued by reference to book value of shares of Stock or the value of securities of or the performance of specified Parents or Subsidiaries. The Committee
shall determine the terms and conditions of such Awards. 
 ARTICLE 13 

ANNUAL AWARDS TO NON-EMPLOYEE DIRECTORS 

13.1  Grant of Options.    Each Non-Employee Director who is serving in such capacity as of January 1 of
each year that the Plan is in effect shall be granted a Non-Qualified Option to purchase 13,200 shares of Stock, subject to adjustment as provided in Article 15. In addition, each Non-Employee Director who is serving in such capacity
as of the effective date of the Initial Public Offering shall be granted a Non-Qualified Stock Option to purchase 13,200 shares of Stock on such date. Each such date that Options are to be granted under this Article 13 is referred to
hereinafter as a “Grant Date”. In addition, the Committee may, in its sole discretion, permit or require each Non-Employee Director to receive all or any portion of his or her compensation for services as a director in the form of an Award
under the Plan with such term and conditions as may be determined by the Committee in its sole discretion. 
 If on any Grant Date, shares of
Stock are not available under the Plan to grant to Non-Employee Directors the full amount of a grant contemplated by the immediately preceding paragraph, then each Non-Employee Director shall receive an Option (a “Reduced Grant”) to
purchase shares of Stock in an amount equal to the number of shares of Stock then available under the Plan divided by the number of Non-Employee Directors as of the applicable Grant Date. Fractional shares shall be ignored and not granted. 

If a Reduced Grant has been made and, thereafter, during the term of the Plan, additional shares of Stock become available for grant, then each
person who was a Non-Employee Director both on the Grant Date on which the Reduced Grant was made and on the date additional shares of Stock become available (a “Continuing Non-Employee Director”) shall receive an additional Option to
purchase shares of Stock. The number of newly available shares shall be divided equally among the Options granted to the Continuing Non-Employee Directors; provided, however, that the aggregate number of shares of Stock subject to a
Continuing Non-Employee Director’s additional Option plus any prior Reduced Grant to the Continuing Non-Employee Director on the 
  

WEBMD 2005 LONG-TERM INCENTIVE PLAN — 

AS AMENDED AND RESTATED AS OF
OCTOBER 1, 2014 

  
 PAGE 11









 
applicable Grant Date shall not exceed 13,200 shares (subject to adjustment pursuant to Article 15). If more than one Reduced Grant has been made, available Options shall be granted
beginning with the earliest such Grant Date. 
 13.2  Option Price.    The option price for each Option
granted under this Article 13 shall be the Fair Market Value on the date of grant of the Option. 

13.3  Term.    Each Option granted under this Article 13 shall, to the extent not previously
exercised, terminate and expire on the date ten (10) years after the date of grant of the Option, unless earlier terminated as provided in Section 13.4. 

13.4  Lapse of Option.    An Option granted under this Article 13 shall not automatically lapse by
reason of the Participant ceasing to qualify as a Non-Employee Director but remaining as a member of the Board. An Option granted under this Article 13 shall lapse under the earliest of the following circumstances: 

(1)  The Option shall lapse ten years after it is granted. 

(2)  If the Participant ceases to serve as a member of the Board for any reason other than as provided in the proviso
to this paragraph (2), the Option shall lapse, unless it is previously exercised, three years after the Participant’s termination as a member of the Board; provided, however, that if the Participant is removed for cause (determined in
accordance with the Corporation’s bylaws, as amended from time to time), the Option shall (to the extent not previously exercised) lapse immediately. If the Participant dies during the post termination exercise period specified above and before
the Option otherwise lapses, the Option shall lapse one year after the Participant’s death, if later than the end of the three year period. Upon the Participant’s death, any exercisable Options may be exercised by the Participant’s
beneficiary, determined in accordance with Section 14.5. 
 If a Participant exercises Options after termination of his or her service
on the Board, he or she may exercise the Options only with respect to the shares that were otherwise exercisable on the date of termination of his service on the Board. Such exercise otherwise shall be subject to the terms and conditions of this
Article 13. 
 13.5  Cancellation of Options.    Upon a Participant’s termination of service
for any reason other than death or Disability, all Options that have not vested in accordance with the Plan shall be cancelled immediately. 

13.6  Exercisability.    Subject to Section 13.7, each Option grant under this Article 13 shall
be exercisable as to twenty-five percent (25%) of the Option shares on each of the first, second, third and fourth anniversaries of the Grant Date, such that the Options will be fully exercisable after four years from the Grant Date. 

13.7  Acceleration Upon Change of Control.    Notwithstanding Section 13.6, in the event of a Change
of Control, each Option granted under this Article 13 that is then outstanding immediately prior to such Change of Control shall become immediately exercisable in full on the date of such Change in Control. 

13.8  Termination of Article 13.    No Options shall be granted under this Article 13 after
January 1, 2015. 
 13.9  Non-exclusivity.    Nothing in this Article 13 shall prohibit the
Committee from making discretionary Awards to Non-Employee Directors pursuant to the other provisions of the Plan before or after January 1, 2015. Options granted pursuant to this Article 13 shall be governed by the provisions of this
Article 13 and by other provisions of the Plan to the extent not inconsistent with the provisions of this Article 13. 

ARTICLE 14 

PROVISIONS APPLICABLE TO AWARDS 

14.1  Stand-alone, Tandem, and Substitute Awards.    Awards granted under the Plan may, in the discretion
of the Committee, be granted either alone or in addition to, in tandem with, (subject to the last sentence of Section 4.3) or in substitution for, any other Award granted under the Plan. If an Award is granted in substitution 

 
 WEBMD 2005 LONG-TERM
INCENTIVE PLAN — 
 AS AMENDED AND
RESTATED AS OF OCTOBER 1, 2014 

  
 PAGE 12









 
for another Award, the Committee may require the surrender of such other Award in consideration of the grant of the new Award. Awards granted in addition to or in tandem with other Awards may be
granted either at the same time as or at a different time from the grant of such other Awards. 
 14.2  Term of
Award.    The term of each Award shall be for the period as determined by the Committee, provided that in no event shall the term of any Incentive Stock Option or a Stock Appreciation Right granted in tandem with the
Incentive Stock Option exceed a period of ten years from the date of its grant (or, if Section 7.2(c) applies, five years from the date of its grant). 

14.3  Form of Payment for Awards.    Subject to the terms of the Plan and any applicable law or Award
Agreement, payments or transfers to be made by the Corporation or a Parent or Affiliate on the grant or exercise of an Award may be made in such form as the Committee determines at or after the time of grant, including, without limitation, cash,
Stock, other Awards or other property, or any combination thereof, and may be made in a single payment or transfer, in installments or on a deferred basis, in each case determined in accordance with rules adopted by, and at the discretion of, the
Committee. 
 14.4  Limits on Transfer.    No right or interest of a Participant in any unexercised or
restricted Award may be pledged, encumbered or hypothecated to or in favor of any party other than the Corporation or a Parent or Affiliate, or shall be subject to any lien, obligation, or liability of such Participant to any other party other than
the Corporation or a Parent or Affiliate. No unexercised or restricted Award shall be assignable or transferable by a Participant other than by will or the laws of descent and distribution or, except in the case of an Incentive Stock Option,
pursuant to a domestic relations order that would satisfy Section 414(p)(1)(A) of the Code if such Section applied to an Award under the Plan; provided, however, that the Committee may (but need not) permit other transfers where
the Committee concludes that such transferability (i) does not result in accelerated taxation or other adverse tax consequences, (ii) does not cause any Option intended to be an Incentive Stock Option to fail to be described in
Section 422(b) of the Code, and (iii) is otherwise appropriate and desirable, taking into account any factors deemed relevant, including, without limitation, state or federal tax or securities laws applicable to transferable Awards. In
furtherance of the foregoing, with the consent of the Committee or its designee, a Participant may transfer Awards to such Participant’s family members or trusts or other entities in which the Participant or his or her family members hold 50%
or more of the voting or beneficial ownership interest in such trust or entity for estate planning or other tax purpose. Any such permitted transfer shall be subject to such conditions as the Committee or its designee may impose and compliance with
applicable federal and state securities laws. 
 14.5  Beneficiaries.    Notwithstanding
Section 14.4, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A
beneficiary, legal guardian, legal representative or other person claiming any rights under the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant, except to the extent the Plan and such
Award Agreement otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Committee. If no beneficiary has been designated or survives the Participant, payment shall be made to the Participant’s estate.
Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time, provided the change or revocation is filed with the Committee. 

14.6  Stock Certificates.    All Stock issuable under the Plan is subject to any stop-transfer orders and
other restrictions as the Committee deems necessary or advisable to comply with federal or state securities laws, rules and regulations and the rules of any national securities exchange or automated quotation system on which the Stock is listed,
quoted or traded. The Committee may place legends on any Stock certificate or issue instructions to the transfer agent to reference restrictions applicable to the Stock. 

14.7  Acceleration Upon Death or Disability.    Unless otherwise set forth in an Award Agreement, upon the
Participant’s death or Disability during his employment or service as a director, all outstanding Options, Stock Appreciation Rights, Restricted Stock Awards and other Awards in the nature of rights that may be exercised 

 
 WEBMD 2005 LONG-TERM
INCENTIVE PLAN — 
 AS AMENDED AND
RESTATED AS OF OCTOBER 1, 2014 

  
 PAGE 13









 
shall become fully exercisable and all restrictions on outstanding Awards shall lapse. Any Option or Stock Appreciation Rights Awards shall thereafter continue or lapse in accordance with the
other provisions of the Plan and the Award Agreement. To the extent that this provision causes Incentive Stock Options to exceed the dollar limitation set forth in Section 7.2(b), the excess Options shall be deemed to be Non-Qualified Stock
Options. 
 14.8  Acceleration of Vesting and Lapse of Restrictions.    Subject to Sections 7.3(b)
and 13.7, the Committee may, in its sole discretion, at any time (including, without limitation, prior to, coincident with or subsequent to a Change of Control) determine that (a) all or a portion of a Participant’s Options, Stock
Appreciation Rights and other Awards in the nature of rights that may be exercised shall become fully or partially exercisable, and/or (b) all or a part of the restrictions on all or a portion of the outstanding Awards shall lapse, in each
case, as of such date as the Committee may, in its sole discretion, declare; provided, however, that, with respect to Awards that are subject to Section 409A of the Code, the Committee shall not have the authority to accelerate or
postpone the timing of payment or settlement of an Award in a manner that would cause such Award to become subject to the interest and penalty provisions under Section 409A of the Code. The Committee may discriminate among Participants and
among Awards granted to a Participant in exercising its discretion pursuant to this Section 14.8. All Awards made to Non-Employee Directors shall become fully vested and, in the case of Options, Stock Appreciation Rights and other Awards in the
nature of rights that may be exercised, fully exercisable in the event of the occurrence of a Change of Control as of the date of such Change of Control. 

14.9  Other Adjustments.    If (i) an Award is accelerated under Sections 7.3(b), 13.7 and/or
14.8 or (ii) a Change of Control occurs (regardless or whether acceleration under Sections 7.3(b), 13.7 and/or 14.8 occurs), the Committee may, in its sole discretion, provide (a) that the Award will expire after a designated period
of time after such acceleration or Change of Control, as applicable, to the extent not then exercised, (b) that the Award will be settled in cash rather than Stock, (c) that the Award will be assumed by another party to a transaction
giving rise to the acceleration or a party to the Change of Control, (d) that the Award will otherwise be equitably converted or adjusted in connection with such transaction or Change of Control, or (e) any combination of the foregoing.
The Committee’s determination need not be uniform and may be different for different Participants whether or not such Participants are similarly situated; provided, however, that, with respect to Awards that are subject to
Section 409A of the Code, the Committee shall not have the authority to accelerate or postpone the timing of payment or settlement of an Award in a manner that would cause such Award to become subject to the interest and penalty provisions
under Section 409A of the Code. 
 14.10  Performance Goals.    In order to preserve the
deductibility of an Award under Section 162(m) of the Code, the Committee may determine that any Award granted pursuant to this Plan to a Participant that is or is expected to become a Covered Employee shall be determined solely on the basis of
(a) the achievement by the Corporation or Subsidiary of a specified target return, or target growth in return, on equity or assets, (b) the Corporation’s stock price, (c) the Corporation’s total shareholder return (stock
price appreciation plus reinvested dividends) relative to a defined comparison group or target over a specific performance period, (d) the achievement by the Corporation or a Parent or Subsidiary, or a business unit of any such entity, of a
specified target, or target growth in, net income, revenues, earnings per share, earnings before income and taxes, and earnings before income, taxes, depreciation and amortization, or (e) any combination of the goals set forth in
(a) through (d) above. If an Award is made on such basis, the Committee shall establish goals prior to the beginning of the period for which such performance goal relates (or such later date as may be permitted under Section 162(m) of
the Code), and the Committee has the right for any reason to reduce (but not increase) the Award, notwithstanding the achievement of a specified goal. Any payment of an Award granted with performance goals shall be conditioned on the written
certification of the Committee in each case that the performance goals and any other material conditions were satisfied. 

14.11  Termination of Employment.    Whether military, government or other service or other leave of
absence shall constitute a termination of employment shall be determined in each case by the Committee at its discretion, and any determination by the Committee shall be final and conclusive. A termination of employment shall not occur (i) in a
circumstance in which a Participant transfers from the Corporation to one of its Parents or Subsidiaries, 
  

WEBMD 2005 LONG-TERM INCENTIVE PLAN — 

AS AMENDED AND RESTATED AS OF
OCTOBER 1, 2014 

  
 PAGE 14









 
transfers from a Parent or Affiliate to the Corporation, or transfers from one Parent or Affiliate to another Parent or Affiliate, or (ii) in the discretion of the Committee as specified at
or prior to such occurrence, in the case of a split-off, spin-off, sale or other disposition of the Participant’s employer from the Corporation or any Parent or Affiliate. To the extent that this provision causes Incentive Stock Options to
extend beyond three months from the date a Participant is deemed to be an employee of the Corporation, a Parent or Affiliate for purposes of Section 424(f) of the Code, the Options held by such Participant shall be deemed to be Non-Qualified
Stock Options. 
 ARTICLE 15 

CHANGES IN CAPITAL STRUCTURE 

15.1  General.    Upon or in contemplation of (a) any reclassification, recapitalization, stock
split (including a stock split in the form of a stock dividend) or reverse stock split, (b) any merger, combination, consolidation, or other reorganization, (c) any spin-off, split-up, or similar extraordinary dividend distribution in
respect of the Stock (whether in the form of securities or property), (d) any exchange of Stock or other securities of the Corporation, or any similar, unusual or extraordinary corporate transaction in respect of the Stock, or (e) a sale
of all or substantially all the business or assets of the Corporation as an entirety, then the Committee shall, in such manner, to such extent (if any) and at such time as it deems appropriate and equitable in the circumstances in order to preserve,
but not increase, the benefits or potential benefits intended to be made available under the Plan or an outstanding Award: 

(i)  proportionately adjust any or all of (A) the number and type of shares of Stock (or other securities) that
thereafter may be made the subject of Awards (including the specific share limits, maximums and numbers of shares set forth elsewhere in this Plan), (B) the number, amount and type of shares of Stock (or other securities or property) subject to
any or all outstanding Awards, (C) the grant, purchase, or exercise price (which term includes the base price of any SAR or similar right) of any or all outstanding Awards, (D) the securities, cash or other property deliverable upon
exercise or payment of any outstanding Awards, or (E) the performance standards applicable to any outstanding Awards, or 

(ii)  make provision for a cash payment or for the assumption, substitution or exchange of any or all outstanding
share-based Awards or the cash, securities or property deliverable to the holder of any or all outstanding share-based Awards, based upon the distribution or consideration payable to holders of the Stock upon or in respect of such event. 

The Committee may adopt such valuation methodologies for outstanding Awards as it deems reasonable in the event of a cash or property
settlement and, in the case of Options, SARs or similar rights, but without limitation on other methodologies, may base such settlement solely upon the excess if any of the per share amount payable upon or in respect of such event over the exercise
or base price of the Award. With respect to any Award of an Incentive Stock Option, the Committee may make such an adjustment that causes the option to cease to qualify as an Incentive Stock Option without the consent of the affected Participant.
Notwithstanding the foregoing, to the extent possible, all adjustments shall be made in a manner to avoid: (i) an Award that is not already subject to Section 409A of the Code from becoming subject to Section 409A of the Code; and
(ii) the imposition of penalties pursuant to Section 409A of the Code. 
 In any of such events, the Committee may take such action
prior to such event to the extent that the Committee deems the action necessary to permit the Participant to realize the benefits intended to be conveyed with respect to the underlying shares in the same manner as is or will be available to
stockholders generally. In the case of any stock split or reverse stock split, if no action is taken by the Committee, the proportionate adjustments contemplated by clause (i) above shall nevertheless be made. 

 
 WEBMD 2005 LONG-TERM
INCENTIVE PLAN — 
 AS AMENDED AND
RESTATED AS OF OCTOBER 1, 2014 

  
 PAGE 15









 ARTICLE 16 

AMENDMENT, MODIFICATION AND TERMINATION 

16.1  Amendment, Modification and Termination.    The Board or the Committee may, at any time and from
time to time, amend, modify or terminate the Plan; provided, however, that the Board or the Committee may condition any amendment or modification on the approval of shareholders of the Corporation if such approval is necessary or deemed advisable
with respect to tax, securities or other applicable laws, policies or regulations. 
 16.2  Awards Previously
Granted.    At any time and from time to time, but subject to Section 4.3, the Committee may amend, modify or terminate any outstanding Award or Award Agreement without approval of the Participant; provided, however,
that, subject to the terms of the applicable Award Agreement, such amendment, modification or termination shall not, without the Participant’s consent, reduce or diminish the value of such Award determined as if the Award had been exercised,
vested, cashed in or otherwise settled on the date of such amendment or termination; provided further, however, that the original term of any Option may not be extended. No termination, amendment, or modification of the Plan shall adversely affect
any Award previously granted under the Plan, without the written consent of the Participant. Notwithstanding any provision herein to the contrary, the Committee shall have broad authority to amend the Plan or any outstanding Award under the Plan
without approval of the Participant to the extent necessary or desirable (i) to comply with, or take into account changes in or interpretations of, applicable tax laws, securities laws, accounting rules and other applicable laws, rules and
regulations or (ii) to ensure that an Award is not subject to interest and penalties under Section 409A of the Code. 

ARTICLE 17 
 GENERAL
PROVISIONS 
 17.1  No Rights to Awards.    No Participant or any eligible participant shall have
any claim to be granted any Award under the Plan, and neither the Corporation nor the Committee is obligated to treat Participants or eligible participants uniformly. 

17.2  No Stockholder Rights.    No Award gives the Participant any of the rights of a shareholder of the
Corporation unless and until shares of Stock are in fact issued to such person in connection with the exercise, payment or settlement of such Award. 

17.3  Withholding.    The Corporation or any Subsidiary, Parent or Affiliate shall have the authority and
the right to deduct or withhold, or require a Participant to remit to the Corporation, an amount sufficient to satisfy federal, state, local and other taxes (including the Participant’s FICA obligation) required by law to be withheld with
respect to any taxable event arising as a result of the Plan. With respect to withholding required upon any taxable event under the Plan, the Committee may, at the time the Award is granted or thereafter, require or permit that any such withholding
requirement be satisfied, in whole or in part, by (i) withholding from the Award shares of Stock or (ii) delivering shares of Stock that are already owned, having a Fair Market Value on the date of withholding equal to the minimum amount
(and not any greater amount) required to be withheld for tax purposes, all in accordance with such procedures as the Committee establishes. The Corporation or any Subsidiary, Parent or Affiliate, as appropriate, shall also have the right to deduct
from all cash payments made to a Participant (whether or not such payment is made in connection with an Award) any applicable taxes required to be withheld with respect to such payments. 

17.4  No Right to Continued Service.    Nothing in the Plan or any Award Agreement shall interfere with or
limit in any way the right of the Corporation or any Parent or Affiliate to terminate any Participant’s employment or status as an officer, director or consultant at any time, nor confer upon any Participant any right to continue as an
employee, officer, director or consultant of the Corporation or any Parent or Affiliate. In its sole discretion, the Board or the Committee may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to
deliver shares of Stock with respect to awards hereunder. 
  

WEBMD 2005 LONG-TERM INCENTIVE PLAN — 

AS AMENDED AND RESTATED AS OF
OCTOBER 1, 2014 

  
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 17.5  Unfunded Status of Awards.    The Plan is intended to
be an “unfunded” plan for incentive and deferred compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that
are greater than those of a general creditor of the Corporation or any Parent or Affiliate. 

17.6  Indemnification.    To the extent allowable under applicable law, each member of the Committee shall
be indemnified and held harmless by the Corporation from any loss, cost, liability or expense that may be imposed upon or reasonably incurred by such member in connection with or resulting from any claim, action, suit or proceeding to which such
member may be a party or in which he may be involved by reason of any action or failure to act under the Plan and against and from any and all amounts paid by such member in satisfaction of judgment in such action, suit or proceeding against him;
provided such member shall give the Corporation an opportunity, at its own expense, to handle and defend the same before such member undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be
exclusive of any other rights of indemnification to which such persons may be entitled under the Corporation’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Corporation may have to indemnify
them or hold such persons harmless. 
 17.7  Relationship to Other Benefits.    No Award shall
constitute salary, recurrent compensation or contractual compensation for the year of grant, any later year or any other period of time. No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement,
savings, profit sharing, group insurance, welfare or other benefit plan of the Corporation or any Parent or Affiliate unless provided otherwise in such other plan. 

17.8  Expenses; Application of Funds.    The expenses of administering the Plan shall be borne by the
Corporation and its Parents or Subsidiaries. The proceeds received by the Corporation from the sale of shares of Stock pursuant to Awards will be used for general corporate purposes. 

17.9  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. 

17.10  Gender and Number.    Except where otherwise indicated by the context, any masculine term used
herein also shall include the feminine; the plural shall include the singular and the singular shall include the plural. 

17.11  Fractional Shares.    No fractional shares of Stock shall be issued and the Committee shall
determine, in its discretion, whether cash shall be given in lieu of fractional shares or whether such fractional shares shall be eliminated by rounding up or down. 

17.12  Government and Other Regulations.    The obligation of the Corporation to make payment of awards in
Stock or otherwise shall be subject to all applicable laws, rules and regulations, and to such approvals by government agencies as may be required. To the extent that Awards under the Plan are awarded to individuals who are domiciled or resident
outside of the United States or to persons who are domiciled or resident in the United States but who are subject to the tax laws of a jurisdiction outside of the United States, the Committee may adjust the terms of the Awards granted hereunder to
such person (i) to comply with the laws of such jurisdiction and (ii) to avoid adverse tax consequences relating to an Award. The authority granted under the previous sentence shall include the discretion for the Committee to adopt, on
behalf of the Corporation, one or more sub-plans applicable to separate classes of Participants who are subject to the laws of jurisdictions outside of the United States. 

17.13  Securities Law Restrictions.    An Award may not be exercised or settled and no shares of Stock may
be issued in connection with an Award unless the issuance of such shares of Stock has been registered under the 1933 Act and qualified under applicable state “blue sky” laws and any applicable foreign securities laws, or the
Corporation has determined that an exemption from registration and from qualification under such state “blue 
  

WEBMD 2005 LONG-TERM INCENTIVE PLAN — 

AS AMENDED AND RESTATED AS OF
OCTOBER 1, 2014 

  
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sky” laws is available. The Corporation shall be under no obligation to register under the 1933 Act, or any state securities act, any of the shares of Stock issued in connection with
the Plan. The shares issued in connection with the Plan may in certain circumstances be exempt from registration under the 1933 Act, and the Corporation may restrict the transfer of such shares in such manner as it deems advisable to ensure the
availability of any such exemption. The Committee may require each Participant purchasing or acquiring shares of Stock pursuant to an Award under the Plan to represent to and agree with the Corporation in writing that such Participant is acquiring
the shares of Stock for investment purposes and not with a view to the distribution thereof. All certificates for shares of Stock delivered under the Plan shall be subject to such stock-transfer orders and other restrictions as the Committee may
deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any exchange upon which the Stock is then listed, and any applicable securities law, and the Committee may cause a legend or legends to be
put on any such certificates to make appropriate reference to such restrictions. 
 17.14  Satisfaction of
Obligations.    Subject to applicable law, the Corporation may apply any cash, shares of Stock, securities or other consideration received upon exercise or settlement of an Award to any obligations a Participant owes to the
Corporation and its Parents, Subsidiaries or Affiliates in connection with the Plan or otherwise, including, without limitation, any tax obligations or obligations under a currency facility established in connection with the Plan. 

17.15  Section 409A of the Code.    Notwithstanding any contrary provisions of the Plan or an Award
Agreement, if any provision of the Plan or an Award Agreement contravenes the requirements of any regulations or Treasury guidance promulgated under Section 409A of the Code or could cause an Award to be subject to additional taxes, accelerated
taxation, interest and/or penalties under Section 409A of the Code, such provision of the Plan or any Award Agreement shall be modified to maintain, to the maximum extent practicable, the original intent of the applicable provision without
violating the provisions of Section 409A of the Code. Moreover, any discretionary authority that the Board or the Committee may have pursuant to the Plan shall not be applicable to an Award that is subject to Section 409A of the Code to
the extent such discretionary authority will contravene Section 409A of the Code or the Treasury guidance promulgated thereunder. 

17.16  Governing Law.    To the extent not governed by federal law, the Plan and all Award Agreements
shall be construed in accordance with and governed by the laws of the State of Delaware. 
 17.17  Additional
Provisions.    Each Award Agreement may contain such other terms and conditions as the Board or the Committee may determine, provided that such other terms and conditions are not inconsistent with the provisions of
this Plan. In the event of any conflict or inconsistency between the Plan and an Award Agreement, the Plan shall govern and the Award Agreement shall be interpreted to minimize or eliminate such conflict or inconsistency. Nothing contained in the
Plan shall be construed: (a) to prevent the Company or any Subsidiary from taking any corporate action, whether or not it would have an adverse effect on any Awards made under the Plan; or (b) to provide any rights, not otherwise provided under
applicable law, to any participant, beneficiary or other person with respect to the taking of any corporate action by the Company or any Subsidiary. 
  

WEBMD 2005 LONG-TERM INCENTIVE PLAN — 

AS AMENDED AND RESTATED AS OF
OCTOBER 1, 2014 

  
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