Document:

EX-10.2

 Exhibit 10.2 

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) made and entered into as of this 13th day of May, 2019 (the
“Effective Date”), between CapStar Financial Holdings, a Tennessee corporation established to be a bank holding company, headquartered in Nashville, Davidson County, Tennessee, (the “Company”) and CapStar
Bank, a Tennessee banking corporation headquartered in Nashville, Davidson County, Tennessee, (the “Bank”) (the Company and Bank together referred to herein as “CapStar”) and Timothy K. Schools,
hereinafter referred to as “Executive.” 
 W I T N E S S E T H 

WHEREAS, Executive has agreed to be employed by Company as its Chief Executive Officer and President and Bank as its Chief Executive
Officer and President or the period and upon the terms and conditions provided for in this Agreement. 
 NOW, THEREFORE, for the
reasons set forth above and in consideration for the mutual promises and agreements set forth herein, CapStar and Executive agree as follows: 

1.    Employment. Subject to continued approval of the Tennessee Department of Financial Institutions and other
bank regulatory agencies having jurisdiction over the operations of CapStar, CapStar hereby agrees that effective on the Effective Date, Executive will be employed by Company as its President and as of July 31, 2019 as its Chief Executive
Officer and by Bank as its Chief Executive Officer and President as of the Effective Date, pursuant to the terms of this Agreement. Executive agrees to devote his best efforts and his full-time employment to
CapStar’s business and strategic planning and perform such other related activities and duties as the board of directors of the Company and Bank (the “Board”) may, from time to time, determine and assign to Executive. Executive’s
services and decisions shall be subject to the review, modification and control of the Board. Service on the Board shall be included in the scope of Executive’s employment as long as he so serves. CapStar has appointed Executive to the board of
directors of Bank effective immediately and shall appoint him as a director of the Company effective July 31, 2019 and shall nominate the Executive for election as a director of Company effective July 31, 2019 as such nominations are necessary
so that the Executive will, if elected by the shareholders of Company, serve as a director of Bank as of the Effective Date and Company as of July 31, 2019 throughout the remainder of the Term. Company agrees to cause the election of the
Executive as a director of Bank throughout the Term. Executive hereby consents to serve as a director without any additional compensation for Executive’s services as a director or for any other duties Executive may undertake as a director.
Effective upon the termination of Executive’s employment as Chief Executive Officer of Company and Bank for any reason, Executive shall no longer be a director of Company or Bank or any of their subsidiaries or affiliates, and Executive shall
resign all positions as a director or officer of Company or Bank and their subsidiaries and affiliates and sign any documents necessary to assure that Executive’s resignation from all such positions is effective and properly documented. 

2.    Compensation. During the term of Executive’s employment hereunder (the “Term”): 

(a) Salary. For the services provided for herein, CapStar shall pay to Executive, and Executive shall accept from CapStar, a base
salary of Five Hundred Twenty-Five Thousand and No/100 Dollars ($525,000.00), per annum (Executive’s “Base Salary”), subject to any and all withholdings and deductions required by law, payable in accordance with the customary payroll
practices of CapStar. During the term of this Agreement, Executive’s Base Salary shall be reviewed from time to time by the Board, and, may be increased, but not decreased below the Base Salary, from time to time by the Board, based upon such
factors as it may establish from time to time. 

  
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 (b) Bonus. For the services provided for herein, Executive shall be eligible to
receive an annual bonus of up to 50% of Executive’s Base Salary, subject to the terms and conditions set forth annually by the Board at its sole discretion or pursuant to any bonus plan that may be adopted. 

(c) Long Term Incentive Plan. Executive will also be eligible to participate in CapStar’s Long Term Incentive Plan and to receive
a target award of 40% of Executive’s Base Salary, subject to the terms and conditions set forth in the Long Term Incentive Plan. 
 (d)
Benefits. CapStar will provide to Executive, consistent with the terms and conditions of the respective plans, and pay the cost of, such employee benefits as are provided to Executive Officers of CapStar generally under benefit plans adopted
by CapStar from time to time (CapStar’s “Employee Benefit Plans”). These Employee Benefit Plans may include vacation days, sick days or other types of paid or unpaid leave, insurance programs, pension plans, profit sharing plans,
bonus plans, stock option plans, restricted stock plans or other stock-based incentive plans, and other employee benefit plans. Provision of such benefit plans by CapStar is within the sole discretion of CapStar, and any such benefits may be
amended, modified or discontinued at any time by CapStar. 
 (e)Relocation. CapStar will reimburse Executive for certain expenses
relating to Executive’s sale of his home in South Carolina and purchase of a new home in Nashville, Tennessee. CapStar will provide for reimbursement of closing costs associated with the sale of Executive’s prior residence as well as all
expenses related to the movement of household goods. CapStar will also pay for temporary housing plus two trips per month to return to Executive’s existing domicile for a period of 90 days, or 180 days with prior approval of the Chairman or
Vice Chairman of the Board, in order to facilitate an orderly transition. 
 (f) Reimbursements. Upon timely and well-documented
requests by Executive submitted within one month from the payment of such expenses by Executive, CapStar will reimburse Executive for Executive’s costs and expenses incurred in connection with the performance of Executive’s duties or
otherwise for the benefit of CapStar, specifically including any business expenses incurred with the prior approval of the Board. Such reimbursements shall be made in accordance with the policies established by Company from time to time, recognizing
that CapStar may have different reimbursement policies for executive officers, and likewise may have different reimbursement policies for Executive as Chief Executive Officer. Such reimbursements may be approved by CapStar on a one-time basis for a particular expenditure, or on an ongoing basis, such as club memberships, automobile expense reimbursements, etc., but such ongoing approvals shall be subject to change from time to time. 

(g) Stock Options. As additional consideration for Executive’s agreement to become employed by CapStar, Executive will receive a one-time award of 50,000 options to purchase the common stock of CapStar Financial Holdings, Inc. The exercise price will be set as the average price of the stock on the day before the public announcement of
Executive’s employment with CapStar, but in any event, not less than the fair market value on the date of grant, and options are to be vested in accordance with a three year vesting schedule and subject to the terms of the CapStar Financial
Holdings, Inc. Stock Incentive Plan and a separate Stock Option Agreement between Executive and CapStar Financial Holdings, Inc. 

  
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 (h) Allocation of Compensation. Bank and Company shall apportion any payments or
benefits paid to Executive pursuant to this Agreement among themselves as they may agree from time to time in proportion to services actually rendered by Executive for such entity; provided, however, that they must satisfy in full all such
obligations in a timely manner as set forth in this Agreement regardless of any agreed-upon apportionment. Executive’s receipt of satisfaction in full of any such obligation from Company or Bank shall extinguish the obligations of the other
with respect to such obligation. 
 3.    Term of Employment; Renewal. The initial term of Executive’s
employment pursuant to this Agreement (the “Initial Term”) shall commence on the Effective Date and shall end on May 13, 2022. The Term of Executive’s employment pursuant to this Agreement may be renewed and the term thereof
extended by one (1) additional year (each, an “Extended Term”) at the end of each Extended Term, by mutual agreement of the parties, which shall be evidenced by each party giving notice of renewal to the other party at least
ninety (90) days prior to the expiration of the then-current Extended Term. The Initial Term and all Extended Terms are collectively referred to herein as the “Term.” 

4.    Termination of Employment. 

(a)    Termination By CapStar. Notwithstanding any of the foregoing provisions in this Agreement, CapStar, by action
of the Board, may terminate the employment of Executive hereunder without notice at any time for Cause or without Cause. For purposes of this Agreement, “Cause” includes, but is not limited to: (i) any material breach of the terms of
this Agreement which negatively impacts CapStar; (ii) personal dishonesty, fraud or theft; (iii) disclosure of CapStar’s confidential information except in the course of performing his duties while employed by CapStar;
(iv) willful illegal or disruptive conduct which impairs the reputation, goodwill or business position of CapStar; (v) willful failure to cooperate fully with a bona fide internal investigation or an investigation of Bank by regulatory or
law enforcement authorities whether or not related to your employment with Bank (an “Investigation”), after being instructed by the Board to cooperate or Executive’s willful destruction of or knowing and intentional failure to
preserve documents of other material known by Executive to be relevant to any Investigation; (vi) breach of fiduciary duty involving personal profit; (vii) any order or request for removal of Executive by any regulatory authority having
jurisdiction over CapStar; (viii) or Executive’s disability, as defined in any disability insurance policy with benefits payable to Executive, or if there is no such disability insurance policy, then as defined in CapStar’s
established policy applicable to executive officers (“Disability”). Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to Executive a copy of a
resolution duly adopted by the affirmative vote of a majority of the members of the Board at a duly constituted meeting of the Board, finding that in the good faith opinion of the Board, Executive was guilty of conduct justifying Termination for
Cause and specifying the reasons therefor. Executive shall have the right to appear with counsel and defend himself at any meeting of the Board at which such a resolution is considered. 

(b)    For Cause; Nonrenewal by Executive. In the event of a termination of Executive by Company for Cause or
election by Executive not to renew or extend the Term, the Executive shall be entitled to receive only the compensation that is earned and accrued as of the date of termination but no other monies or benefits except that: (A) in the case of
Executive’s Disability, if no disability plan or disability insurance policy is in place, Executive shall receive fifty per cent (50%) of his Base Salary for a period not to exceed twenty four (24) weeks following the date of termination;
and (B) Executive shall be entitled to receive any extended benefits provided to all employees of CapStar, or required by law, such as COBRA health insurance coverage, etc. 

(c)    Without Cause. In the event that: (A) CapStar terminates Executive’s employment hereunder without
cause; or (B) CapStar engages in conduct that constitutes Good Reason, Executive shall be entitled (i) to resign from his employment with CapStar, (ii) to continue to receive his 

  
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Base Salary, payable as before such termination, for a period of two (2) years after the effective date of such termination, (iii) subject to Section 12 hereof, be provided, for a
period of twenty-four (24) months after such termination, with life, medical, dental and disability coverage substantially identical to the coverage maintained by the CapStar for Executive prior to Executive’s severance, and (iv) to
receive all benefits and reimbursements accrued and payable to Executive at the time of termination of his employment hereunder, including any stock or payments to which Executive is entitled under, and subject to the terms of, all incentive plans
in which Executive participates (including and subject to the terms of each and any individual grant or award agreement), including stock option plans, restricted stock plans, performance share plans, and any other stock-based or cash-based
incentive plans and the individual grant or award agreements under such plans (collectively, Executive’s “Severance Pay”); provided, however, that if CapStar offers and Executive voluntarily accepts terms of
employment that would otherwise constitute Good Reason, then Executive shall be deemed to have waived his right to resign and receive Severance Pay. Upon termination of Executive’s employment hereunder for any reason (other than by CapStar for
Cause), whether voluntarily by Executive or by termination by CapStar without Cause, by non-renewal, or otherwise, Executive shall continue to be bound by the provisions contained in Sections 7, 8, 9 and 10
hereof. In the event Executive’s employment hereunder is terminated by CapStar for Cause, Executive shall not be bound by the covenant not to compete set forth in Section 8 hereof. 

(d)    By Executive. Notwithstanding any of the foregoing provisions in this Agreement, Executive may terminate or
elect not to extend the employment of Executive hereunder without notice at any time. In the event of a termination or election not to extend the Term by Executive for any reason other than Good Reason, including the death or Disability of
Executive, Executive shall be entitled to receive only the compensation that has been earned and benefits and reimbursements that have accrued as of the date of termination and any extended benefits required by law, but no other monies or benefits
other than continuing benefits under any retirement plan, disability insurance policy, or life insurance policy payable by virtue of the retirement, death or disability of Executive having occurred prior to such termination of employment. Upon
termination of Executive’s employment hereunder for whatever reason, Executive shall continue to be bound by the terms of the confidentiality agreement contained in Section 7 hereof, the covenant not to compete contained in Section 8
hereof, and the non-solicitation provisions contained in Sections 9 and 10 hereof. 

(e)    Nonrenewal by CapStar. In the event the expiration of the Term of this Agreement solely by the decision of
CapStar not to renew or extend the Term, and provided that such nonrenewal does not constitute a Qualifying Termination that would entitle Executive to benefits under Section 5 below, Executive shall be entitled (i) to continue to receive
his Base Salary, payable as before such termination, for a period of one (1) year after the effective date of such termination, (ii) subject to Section 12 hereof, for a period of twelve (12) months after such termination, life,
medical, dental and disability coverage substantially identical to the coverage maintained by the CapStar for Executive prior to Executive’s severance, and (iii) to receive all benefits and reimbursements accrued and payable to Executive
at the time of termination of his employment hereunder, including any stock or payments to which Executive is entitled under, and subject to the terms of, all incentive plans in which Executive participates (including and subject to the terms of
each and any individual grant or award agreement), including stock option plans, restricted stock plans, performance share plans, and any other stock-based or cash-based incentive plans and the individual grant or award agreements under such plans.

 5.    Change in Control. Capitalized terms used in this Section 5 or in Section 6 but not otherwise
defined in this Section 5 or in Section 6 shall have the meanings ascribed to them in Section 11. 

(a)    Entitlement to Benefits upon Termination. Subject to Section 12 hereof, if during the Protection Period
a Qualifying Termination of Executive’s employment occurs, CapStar shall pay to 

  
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Executive the Change in Control benefits described in this Section 6. Change in Control benefits shall not be payable if Executive’s employment is terminated (i) for Cause,
(ii) by Executive voluntarily without Good Reason or (iii) by reason of Disability. In addition, the Change in Control benefits shall not be payable if Executive’s employment is terminated for any or no reason prior to or following
the Protection Period. 
 (b)    Change in Control Payment and Benefits. Executive shall be entitled to receive a
cash payment equal to two (2) times Executive’s Base Salary in effect immediately prior to the date of termination (the “Change in Control Payment”), which shall be paid in twenty-four (24) equal monthly
payments commencing on the first business day of the first month following the date of termination. Subject to Section 12 hereof, if a Qualifying Termination of Executive’s employment occurs during the Protection Period, CapStar shall
maintain for the remaining duration of the Protection Period Executive’s health insurance coverage under any applicable Employee Benefit Plans, including any insurance policy held by CapStar, and pay the employer’s portion of such
coverage, with the intent of the parties being that Executive shall continue to receive such health insurance coverage for a period of twenty-four (24) months following a Change in Control. Subject to Section 12 hereof, Executive shall
have the right to continue COBRA health insurance coverage at the end of the Protection Period. 
 (c)    Section
280G compliance. If tax counsel appointed by CapStar (the “Tax Counsel”) determines that any or the aggregate value (as determined pursuant to Section 280G of the Code) of all payments, distributions, accelerations of
vesting, awards and provisions of benefits by CapStar to or for the benefit of Executive (whether paid or payable, distributed or distributable, accelerated, awarded or provided pursuant to the terms of this Agreement or otherwise) (a
“Payment”) would constitute an “excess parachute payment” within the meaning of Section 280G of the Code and be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”),
such Payment shall be reduced to the least extent necessary so that no portion of the Payment shall be subject to the Excise Tax and no part of the income tax deduction for the Payment shall be disallowed under Section 280G of the Code, but
only if, by reason of such reduction, the net after-tax benefit received by Executive as a result of such reduction will exceed the net after-tax benefit that would have
been received by Executive if no such reduction were made. The Payment shall be reduced, if applicable, by CapStar in the following order of priority: (A) reduction of any cash severance payments otherwise payable to Executive that are exempt
from Section 409A of the Code; (B) reduction of any other cash payments or benefits otherwise payable to Executive that are exempt from Section 409A of the Code, but excluding any payments attributable to any acceleration of vesting
or payments with respect to any equity award that are exempt from Section 409A of the Code; (C) reduction of any payments attributable to any acceleration of vesting or payments with respect to any equity award that are exempt from
Section 409A of the Code, in each case beginning with payments that would otherwise be made last in time; and (D) reduction of any other payments or benefits otherwise payable to Executive on a
pro-rata basis or such other manner that complies with Section 409A of the Code, but excluding any payments attributable to any acceleration of vesting and payments with respect to any equity award that
are exempt from Section 409A of the Code. If, however, such Payment is not reduced as described above, then such Payment shall be paid in full to Executive and Executive shall be responsible for payment of any Excise Taxes relating to the
Payment. 
 All determinations required to be made under this Section 4, and the assumptions to be utilized in arriving at such
determination, shall be made by the Tax Counsel, which shall provide its determinations and any supporting calculations both to CapStar and Executive within ten business days of having made such determination. The Tax Counsel shall consult with any
nationally recognized compensation consultants, accounting firm and/or other legal counsel selected by CapStar in determining which payments to, or for the benefit of, the Executive are to be deemed to be parachute payments within the meaning of
Section 280G of the Code. In connection with making determinations under this Section 4, 

  
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the Tax Counsel shall take into account the value of any reasonable compensation for services to be rendered by Executive before or after the Change in Control, including without limitation,
Executive’s agreeing to refrain from performing services pursuant to a covenant not to compete or similar covenant, and CapStar shall cooperate in good faith in connection with any such valuations and reasonable compensation positions. Without
limiting the generality of the foregoing, for purposes of this provision, CapStar agrees to allocate as consideration for the covenants set forth in Section 6 the maximum amount of compensation and benefits payable under Section 5 hereof
reasonably allocable thereto so as to avoid, to the extent possible, subjecting any Payment to tax under Section 4999 of the Code.

6.    Compliance with Section 409A. 

(a)     Executive shall not have any right to make any election regarding the time or form of any payment due under this
Agreement. 
 (b) A payment of any amount or benefit hereunder that is (i) subject to Code Section 409A, and (ii) to be made
because of a termination of employment shall not be made unless such termination is also a “separation from service” within the meaning of Code Section 409A and the regulations promulgated thereunder and, for purposes of any such
provision of this Agreement, references to a “termination,” “termination of employment,” “resignation” or like terms shall mean “separation from service” within the meaning of Code Section 409A.
Notwithstanding any provision of this Agreement to the contrary, if at the time of Executive’s “separation from service” Executive is a “specified employee” (within the meaning of Code Section 409A), then to the extent
that any amount to which Executive is entitled in connection with his separation from service is subject to Code Section 409A, payments of such amounts to which Executive would otherwise be entitled during the six month period following the
separation from service will be accumulated and paid in a lump sum on the earlier of (i) the first day of the seventh month after the date of the separation from service, or (ii) the date of Executive’s death. This paragraph shall
apply only to the extent required to avoid Executive’s incurrence of any additional tax or interest under section 409A or any regulations or Treasury guidance promulgated thereunder. 

(c)    Notwithstanding any provision of this Agreement or any other arrangement to the contrary, to the extent that any
payment to Executive under the terms of this Agreement or any other arrangement would constitute an impermissible acceleration or deferral of payments under Code Section 409A of the or any regulations or Treasury guidance promulgated
thereunder, or under the terms of any applicable plan, program, arrangement or policy of CapStar, such payments shall be made no earlier or later than at such times allowed under Code Section 409A or the terms of such plan, program, arrangement
or policy. 
 (d) Any payments provided in this Agreement or any other arrangement subject to Code Section 409A as an installment of
payments or benefits, is intended to constitute a separately identified “payment” for purposes of Treas. Reg. § 1.409A-2(b)(2)(i). 

(e) Payments with respect to reimbursements of expenses or benefits or provision of fringe or other
in-kind benefits shall be made on or before the last day of the calendar year following the calendar year in which the relevant expense or benefit is incurred. The amount of expenses or benefits eligible for
reimbursement, payment or provision during a calendar year shall not affect the expenses or benefits eligible for reimbursement, payment or provision in any other calendar year. 

7.    Confidentiality. Executive shall not, at any time or in any manner, during or after the Term, either directly
or indirectly, divulge, disclose or communicate to any person, firm or corporation in any manner, whatsoever, any material information concerning any matters affecting or relating to the 

  
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business of CapStar, except in the course of performing his duties while employed by CapStar. This includes, without limitation, the name of its clients, customers or suppliers, the terms and
conditions of any contract to which CapStar is a party or any other information concerning the business of CapStar, its manner or operations or its plans for the future without regard to whether all of the foregoing matters will be deemed
confidential, material or important. This does not include Executive’s ability to disclose the details of this Agreement to his spouse, attorneys, accountants, or lenders as needed for financial or tax purposes. Executive further agrees that he
shall continue to be bound by the provisions of this Section 7 following any termination of Executive’s employment pursuant to this Agreement. 

8.    Covenant Not to Compete. During the Term and for the period of two (2) years thereafter, upon
termination of Executive’s employment hereunder for any reason (other than by CapStar for Cause or by nonrenewal of this Agreement solely by the decision of CapStar), whether voluntarily by Executive or by termination by CapStar without Cause,
and whether before or after a Change in Control, and for a period of two (2) years thereafter, Executive agrees that Executive will not be employed by, consult with, or directly or indirectly own, become interested in, or become involved in any
manner whatsoever in any business (including any bank or other financial institution in organization) which is or will be similar to or competitive with any aspect of the business of CapStar which operates a bank branch or other business location in
Davidson or Williamson Counties, Tennessee, or in any other county in which CapStar operates a bank branch or other business location, determined as of the date of termination of Executive’s employment with CapStar. If Executive’s
employment is terminated by nonrenewal of this Agreement solely by the decision of CapStar, Executive agrees to comply with the foregoing restrictions for a period of one (1) year. For the avoidance of any doubt, the restriction will not
prevent from retaining his ownership stake in Highlands Union Bank until it can be divested within 90 days of the Effective Date. Executive agrees that should a court find the geographical scope of this covenant unreasonably broad, such court should
nevertheless enforce this covenant to the extent that it deems reasonable. Executive specifically acknowledges and agrees that the foregoing restriction on competition with CapStar will not prevent Executive from obtaining gainful employment
following termination of employment with CapStar and is a reasonable restriction upon Executive’s ability to compete with CapStar and to secure such gainful employment. In the event Executive’s employment hereunder is terminated by CapStar
for Cause, Executive shall not be bound by the covenant not to compete in this Section 8. 
 9.    Non-Solicitation Covenant. Executive agrees that for a period of two (2) years following the termination of his employment with CapStar, he will not contact or solicit, directly or indirectly, any customer
or account that was a customer or account of CapStar within twelve (12) months prior to the termination of Executive’s employment with CapStar. Executive further agrees that for a period of two (2) years following the termination of
his employment with CapStar, he will not contact or solicit, directly or indirectly, any employee or person who was an employee of CapStar within twelve (12) months prior to the termination of Executive’s employment with CapStar for the
purposes of inducing such person to leave their employment with CapStar. The parties agree that these covenants are intended to prohibit Executive from engaging in such proscribed activities as an owner, partner, director, officer, executive,
consultant, stockholder, agent, salesperson, or in any other capacity for any person, partnership, firm, corporation or other entity (including any financial institution in organization) unless he receives the express written consent of the Board.
Executive specifically acknowledges and agrees that the foregoing restriction on competition with CapStar will not prevent Executive from obtaining gainful employment following termination of his employment with CapStar and is a reasonable
restriction upon Executive’s ability to compete with CapStar and to secure such gainful employment. 

  
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 10.    No Enticement of Officers. Executive shall not, directly
or indirectly, entice or induce, or attempt to entice or induce any Officer of CapStar to leave such employment during the term of this Agreement or within two (2) years thereafter. 

11.    Certain Definitions. Whenever used in this Agreement and not otherwise defined herein, the following terms
shall have the meanings set forth below: 
 (a) “Change in Control” means a transaction or circumstance in which any of the
following have occurred, provided that the board of directors of CapStar (the “Company Board”) shall have determined that any such transaction or circumstance has resulted in a Change in Control, as defined in this paragraph, which
determination shall be made in a manner consistent with Treas. Reg. § 1. 409A-3(i)(5): 
  

	 	(i)	 the date that any person, or persons acting as a group, as described in Treas. Reg. § 1.409A-3(i)(5) (a “Person”), other than a trustee or other fiduciary holding securities under an employee benefit plan of CapStar or a corporation controlling CapStar or owned directly or indirectly by the
shareholders of CapStar in substantially the same proportions as their ownership of stock of CapStar, becomes the beneficial owner (as defined in Rule 13d-3 under the Securities and Exchange Act of 1934, as
amended), directly or indirectly, of securities of the CapStar representing more than 40% of the total voting power represented by CapStar’s then outstanding voting securities (as defined below); 

 

	 	(ii)	 the merger, acquisition or consolidation of CapStar with any corporation pursuant to which the other
corporation immediately after such merger, acquisition or consolidation owns more than 50% of the voting securities (defined as any securities which vote generally in the election of its directors) of CapStar outstanding immediately prior thereto or
more than 50% of CapStar’s total fair market value immediately prior thereto; or 

  

	 	(iii)	 the date that a majority of the members of the Company Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Company Board before the date of the appointment or election. 

(b) “Code” means the Internal Revenue Code of 1986, as the same may be from time to time amended. 

(c) “Good Reason” means any of the following: 
  

	 	(i)	 Executive’s then current base salary is reduced; 

 

	 	(ii)	 Executive’s work or reporting responsibilities are materially diminished, or 

 

	 	(iii)	 Executive is relocated to a work location more than thirty (30) miles from the Executive’s then
current work location. 

  
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 To terminate this Agreement and his employment under this Agreement for Good Reason, the Executive must
provide written notice to CapStar of the existence of the circumstances providing grounds for termination for Good Reason within 90 days of the initial existence of such grounds and must give CapStar at least 30 days from receipt of such written
notice to cure the condition constituting Good Reason (“Notice of Good Reason”). Such termination must be effective within one year after the initial existence of the condition constituting Good Reason. In the event of termination
for Good Reason, the date of termination shall be the effective date specified in the Executive’s Notice of Good Reason. 
 (d)
“Protection Period” means the period commencing on the date that a Change in Control occurs, and ending on the last day of the twelfth (12th) calendar month following the calendar
month during which such Change in Control occurred. Anything in this Agreement to the contrary notwithstanding, if a Change in Control occurs, and if the date of termination with respect to Executive’s employment by CapStar occurs prior to the
date on which the Change in Control occurs, unless it is reasonably demonstrated by CapStar that such termination of employment (i) was not at the request of a third party who has taken steps reasonably calculated to effect the Change in
Control and (ii) did not otherwise arise in connection with or in anticipation of the Change in Control, then for all purposes of this Agreement the “Protection Period” shall be deemed to have commenced on the date immediately
preceding the date of termination of Executive. 
 (e) “Qualifying Termination” means: 

(i) an involuntary termination of Executive’s employment by CapStar (or any successor to CapStar after the Change in
Control) for reasons other than Cause (and other than on account of Executive’s Disability); or 

(ii)    a voluntary termination of employment by Executive for Good Reason. 

12.    COBRA Health Insurance Coverage. Notwithstanding any provision of this Agreement to the contrary, nothing in
this Agreement shall be interpreted to require CapStar to extend COBRA health insurance coverage benefits to Executive in violation of applicable law. In the event that, following termination of Executive’s employment with CapStar, Executive
shall be entitled to receive extended insurance benefits pursuant to the terms of this Agreement, Executive shall be required to elect COBRA health insurance coverage and, thereafter, CapStar shall provide such coverage to Executive through a COBRA
subsidy; provided, however, that at such time as CapStar is no longer permitted to extend COBRA health insurance coverage benefits to Executive under applicable law, CapStar shall provide a cash payment to Executive in lieu of such
subsidy (with each cash payment being equal to the amount of the last COBRA subsidy provided to Executive prior to Executive’s termination pursuant to the terms hereof), and Executive shall elect and obtain his own health insurance coverage.

 13.    Remedies. Executive acknowledges and agrees that the breach or threatened breach of any of the
provisions of Sections 7, 8, 9 or 10 of this Agreement will cause irreparable harm to CapStar which cannot be adequately compensated by the payment of damages. Accordingly, Executive covenants and agrees that CapStar, in addition to any other rights
or remedies which CapStar may have, will be entitled to such equitable and injunctive relief as may be available from any court of competent jurisdiction to restrain Executive from breaching or threatening to breach any of the provisions of this
Agreement, without the requirement that CapStar post bond or other surety. Such right to obtain injunctive relief may be exercised at the option of CapStar in addition to, concurrently with, prior to, after, or in lieu of the exercise of any other
rights or remedies which CapStar may have as a result of any such breach or threatened breach. 

  
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 14.    Entire Agreement. CapStar and Executive agree that this
Agreement contains the complete agreement concerning the employment arrangement, written or oral, between them and that this Agreement supersedes all prior negotiations, offer letters, practices and/or agreements. Neither party has made any
representations that are not contained herein on which either party has relied in entering into this Agreement. 

15.    Assignment. It is agreed that CapStar shall have the right to assign this Agreement to any purchaser of the
business of or substantially all of the assets of CapStar. This is a personal services contract, and may not be assigned by Executive. 

16.    Modification. This Agreement shall not be modified or amended except by a writing duly executed by both
parties. No waiver of any provision of this Agreement shall be effective unless the waiver is in writing and duly executed by both parties. 

17.    Waiver of Breach. The waiver by a party of the breach of any provision of this Amended Agreement by the
other party shall not operate or be construed as a waiver of any subsequent breach of the same of any other provision hereof by that party. 

18.    Severability. The provisions of this Agreement shall be severable, and the invalidity of any provisions or
portion thereof shall not affect the validity of the other provisions. 
 19.    Choice of Law. This Agreement
shall be governed by and construed in accordance with the laws of the State of Tennessee, except to the extent governed by the laws of the United States of America in which case federal laws shall govern. 

20.    Notice. Any notice required or authorized hereunder shall be deemed delivered when delivered to Executive or
to an executive officer of CapStar, or when deposited, postage prepaid, in the United States mail certified, with return receipt requested, addressed to the parties as follows: 

 

					
		  	Executive:	  	Timothy K. Schools
		  		  	340 West Main Street
		  		  	Abingdon, Virginia 24210
		
		  	with a copy (which copy shall not constitute notice) to:
			
		  		  	Benjamin A. Barnhill
		  		  	Nelson Mullins LLP
		  		  	Poinsett Plaza
		  		  	104 South Main Street, Suite 900
		  		  	Greenville, South Carolina 29601
			
		  	CapStar:	  	CapStar Financial Holdings, Inc.
		  		  	1201 Demonbreun St. Suite 700
		  		  	Nashville, TN 37203
		  		  	Attn: Secretary
		
		  	with a copy (which copy shall not constitute notice) to:
			
		  		  	Waller Lansden Dortch & Davis, LLP
		  		  	Attn: Chase Cole
		  		  	511 Union Street, Suite 2700
		  		  	Nashville, TN 37219

  
 - 10 - 

 21.    Survival. The provisions of Sections 7, 8, 9, 10, 13 and
17 of this Agreement shall survive any termination of this Agreement. 
 22.     Withholding. CapStar shall be
entitled to withhold from amounts payable to Executive hereunder such amounts as may be required by applicable law. 

23.    Indemnification. Notwithstanding anything in the articles of incorporation or bylaws of the Company or the
Bank to the contrary, the Executive shall at all times during the Executive’s employment by the Company or the Bank, and after such employment, be indemnified by such entities to the fullest extent applicable law permits for any matter in any
way relating to the Executive’s affiliation with the Company or the Bank; provided, however, that if the Company or the Bank shall have terminated the Executive’s employment for Cause, then neither the Company or the Bank shall have any
obligation whatsoever to indemnify the Executive for any claim arising out of the matter for which the Executive’s employment shall have been terminated for Cause or for any conduct of the Executive not within the scope of the Executive’s
duties under this Agreement. 
 [Execution Page follows] 

  
 - 11 - 

 EXECUTION PAGE 

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed and delivered as of the day and date first written above.

  

							
	CAPSTAR:	  		 	EXECUTIVE:
			
	CapStar Bank and CapStar Financial Holdings, Inc.	  		 	
	 	 	 	  	 	 	 /s/ Timothy K. Schools

	 	 	 	  	 	 	Timothy K. Schools
	By:	 	 /s/ Dennis C. Bottorff
	  		 	
	 	 	Dennis C. Bottorff, Chairman of the Board	  	 	 	 

  
 - 12 -EX-10.1

 Exhibit 10.1 

2019 INCENTIVE EQUITY PLAN 

OF 
 iHEARTMEDIA, INC.

 ARTICLE I. PURPOSE 
 1.1
Purposes of the Plan. This 2019 Incentive Equity Plan (the “Plan”) of iHeartMedia, Inc., a Delaware corporation (the “Company”), is designed to provide an incentive to certain key members of management and
service providers of the Company or any of its Subsidiaries and non-employee members of the Board of Directors (collectively, the “Eligible Individuals”) and to offer an additional inducement
in obtaining the services of such individuals. The Plan provides for the grant of (a) Options and (b) Restricted Stock Units, which, in each case, may be subject to contingencies or restrictions as set forth under the Plan and applicable
Award Agreement. 
 ARTICLE II. SHARE LIMITATION 

2.1 Shares Subject to the Plan. Subject to the provisions of Article VII, the aggregate number of shares of Common Stock that
may be issued or used for reference purposes with respect to which Awards may be granted under the Plan shall be equal to the sum of (a) 12,770,387 shares of Common Stock for Awards to key members of management and service providers (the
“Management Reserve”) plus (b) 1,596,298 shares of Common Stock for Awards to non-employee members of the Board. Such shares of Common Stock may, in the discretion of the Board of Directors,
consist either in whole or in part of authorized but unissued shares of Common Stock or shares of Common Stock held in the treasury of the Company. Subject to the provisions of Section 9.6, the following shares of Common
Stock will not be treated as issued or used and will remain available for issuance under the Plan: (i) shares covered by Awards that expire or are canceled, forfeited, settled in cash or otherwise terminated, (ii) shares delivered to the
Company and shares withheld by the Company (or its Affiliates) for the payment or satisfaction of purchase price or tax withholding obligations associated with the exercise or settlement of an Award, and (iii) shares covered by stock-based
awards assumed by the Company (or its Affiliates) in connection with the acquisition of another company or business. The Company shall at all times during the term of the Plan reserve and keep available such number of shares of Common Stock as will
be sufficient to satisfy the requirements of the Plan. 
 2.2 Grants from the Management Reserve. 62.5% of the Management Reserve
shall be granted on the Effective Date to the persons (including identified new hires) and in the amounts, in each case, set forth on Exhibit A hereto (the “Emergence Awards”). The Emergence Awards shall be granted in
accordance with the form Award Agreements attached as Exhibits B (Non-Qualified Stock Option Award Agreement) and Exhibit C (Restricted Stock Unit Award Agreement) hereto. Notwithstanding
anything to the contrary contained herein, with respect to the Management Reserve, (a) 65% of all future Awards to key members of management and service providers, in the aggregate, shall be granted in the form of Options substantially in accordance
with Exhibit B and (b) 35% of all future Awards to key members of management and service providers, in the aggregate, shall be granted in the form of Restricted Stock Units substantially in accordance with Exhibit C, in the case of
both (a) and (b), as determined by the Board. 

 2.3 Acceleration. In the event of a Change in Control, any unvested portion of the
outstanding Awards shall immediately vest and, in the case of Options, become exercisable. 
 2.4 Limit on
Non-Employee Director Compensation. The sum of any cash compensation, or other compensation, and the maximum aggregate grant date fair value (determined as of the applicable grant date in accordance with
FASB Accounting Standards Codification Topic 718, or any successor thereto) of any Awards granted to any non-employee director as compensation for his or her services as a
non-employee director during any fiscal year shall not exceed $750,000; provided, that the Administrator shall have the authority to make exceptions to this limit for
non-employee directors in extraordinary circumstances; and provided, further, that the non-employee director receiving such additional compensation does not participate
in the decision to award such additional compensation or in other contemporaneous compensation decisions involving non-employee directors. 

ARTICLE III. ADMINISTRATION 
 3.1
Administration of the Plan. The Plan shall be administered by the Committee. A majority of the members of the Committee shall constitute a quorum, and the acts of a majority of the members present at any meeting at which a quorum is present, and
any acts approved in writing by all members of the Committee without a meeting, shall be the acts of the Committee. 
 3.2 Authority of
the Committee. Except as otherwise expressly provided in the Plan, the Committee shall have full authority to grant to Eligible Individuals: Options and/or Restricted Stock Units. In particular, subject to the express provisions of the Plan
(including, without limitation, Section 2.2 hereof) and applicable law, the Committee shall have the full and final authority, in its good faith discretion, to make all determinations relating to the Plan, including, but
not limited to, the right to: 
 (a) select the Eligible Individuals to whom Awards may from time to time be granted hereunder; 

(b) determine whether and to what extent Awards, or any combination thereof, are to be granted hereunder to one or more Eligible Individuals;

 (c) determine whether the Awards shall be exempt from, or comply with, the requirements of Section 409A of the Code; 

(d) determine the number of shares of Common Stock to be subject to each Award granted hereunder; 

  
 2 

 (e) determine the terms and conditions, not inconsistent with the terms of the Plan, of any
Award granted hereunder (including, but not limited to, the exercise or purchase price (if any), the term of each Award, any restriction or limitation, any vesting schedule or acceleration thereof (subject, in the discretion of and as determined by
the Committee, to any applicable limitations on permitted acceleration under Section 409A of the Code), or any forfeiture restrictions or waiver thereof, regarding any Award and the shares of Common Stock relating thereto, based on such
factors, if any, as the Committee shall determine, in its sole discretion); 
 (f) provide for the accelerated vesting or lapse of
restrictions of any Award at any time; 
 (g) determine whether and under what circumstances an Award may be settled in cash and/or Common
Stock; 
 (h) determine whether to restrict the sale or other disposition of the shares of Common Stock acquired upon the exercise or
settlement of an Award and, if so, whether and under what conditions to waive any such restriction; 
 (i) determine the amount, if any,
necessary to satisfy the obligation of the Company or any of its Affiliates to withhold taxes or other amounts; 
 (j) to construe the
respective Award Agreement and the Plan; 
 (k) extend or renew an Award, provided, that such extension or renewal is permitted under
the Plan on the date of such extension or renewal, and provided, further, that such Award, as extended or renewed, would continue to be exempt from the application of Section 409A of the Code or would continue to comply (or would
continue to comply) with all requirements applicable to deferred compensation under Sections 409A(a)(2), (a)(3) and (a)(4) of the Code; 

(l) prescribe, amend and rescind rules and regulations relating to the Plan, and to make all other determinations necessary or advisable for
administering the Plan. Any controversy or claim arising out of or relating to the Plan, any Award granted under the Plan or any Award Agreement shall be determined unilaterally by the Committee in its sole discretion. The determinations of the
Committee on the matters referred to in this Section 3.2 shall be conclusive and binding on all parties, including the Company, its Affiliates, Participants and any Person claiming any rights under the Plan from or through
any Participant. If not specified in the Plan, the time at which the Committee must or may make any determination shall be determined by the Committee, and any such determination may thereafter be modified by the Committee. The express grant of any
specific power to the Committee, and the taking of any action by the Committee, shall not be construed as limiting any power or authority of the Committee. The Committee may delegate to officers, directors or managers of the Company or any Affiliate
of the Company the authority, subject to such terms as the Committee shall determine, to perform such functions as the Committee may determine, to the extent permitted under applicable law; provided, that the Committee may not delegate its
authority with respect to Awards granted to (A) non-employee members of the Board of Directors or (B) any individual who is an officer for purposes of Section 16 of the Exchange Act. 

  
 3 

 3.3 Limitation of Liability. Each member of the Board shall be entitled to, in good
faith, rely or act upon any report or other information furnished to him or her by any officer, director or other employee of the Company or any of its Affiliates, the Company’s independent certified public accountants or any executive
compensation consultant, legal counsel or other professional retained by the Company to assist in the administration of the Plan. To the fullest extent permitted by applicable law, no member of the Board, nor any officer, director or employee of the
Company acting on behalf of the Board or the Committee, shall be personally liable for any action, determination or interpretation taken or made in good faith with respect to the Plan, and all members of the Board and any officer, director or
employee of the Company acting on its or the Committee’s behalf shall, to the extent permitted by law, be fully indemnified and protected by the Company with respect to any such action, determination or interpretation. 

3.4 Actions by the Board. The Board may at any time and from time to time, grant Awards and administer the Plan with respect to such
Awards. In any such case, the Board shall have all the authority granted to the Committee under the Plan. 
 ARTICLE IV. ELIGIBILITY 

4.1 Eligibility. The Committee may from time to time, in its sole discretion, consistent with the purposes of the Plan, grant Awards to
the Eligible Individuals. Such Awards granted shall cover such number of shares of Common Stock as the Committee may determine in its sole discretion, subject, however, to Section 2.2 herein. 

ARTICLE V. STOCK OPTIONS 
 5.1
Non-Qualified Stock Options. It is the Company’s intent that only Non-Qualified Stock Options, and not “incentive stock options” within the
meaning of Section 422A of the Code, be granted under the Plan and that any ambiguities in construction be interpreted in order to effectuate such intent. The Committee may, from time to time, grant to Eligible Individuals one or more Options
pursuant to an Award Agreement. The Options granted shall take such form as determined in the discretion of the Committee, subject to the terms and conditions therein. 

5.2 Exercise Price. The per share exercise price for a share of Common Stock subject to an Option shall be determined by the Committee,
in its sole discretion, at the time of grant and set forth in the Award Agreement; provided that, the per share exercise price for Options granted on the Effective Date shall be calculated assuming the Company’s aggregate equity
value is $3,000,000,000 on the Effective Date. Notwithstanding anything to the contrary in the foregoing, the per share exercise price of an Option shall not be less than 100% of the Fair Market Value of the Common Stock on the date of grant. 

5.3 Option Term. The term of each Option granted pursuant to the Plan shall be set forth in the Award Agreement and may not exceed
(a) six (6) years from the date of grant thereof in the case of the Emergence Awards and (b) ten (10) years from the date of grant thereof in the case of all other Options; subject, however, in either case, to earlier termination as
hereinafter provided. 

  
 4 

 5.4 Exercisability. Options granted under the Plan shall be exercisable at such time
or times and subject to such terms and conditions as shall be determined by the Committee at the time of grant. If the Committee provides, in its discretion, that any Option is exercisable subject to certain limitations (including, without
limitation, that such Option is exercisable only in installments or within certain time periods), the Committee may waive such limitations on the exercisability at any time at or after the time of grant in whole or in part (including, without
limitation, waiver of the installment exercise provisions or acceleration of the time at which such Option may be exercised), based on such factors, if any, as the Committee shall determine, in its sole discretion. 

5.5 Method of Exercise. Subject to whatever installment exercise and waiting period provisions apply under
Section 5.4, to the extent then vested and exercisable, vested Options may be exercised in whole or in part at any time during the Option term, by giving written notice to the Company (or to its agent specifically
designated for such purpose), at the address and in the form established by the Committee (which notice may be provided in an electronic form to the extent acceptable to the Committee and the Company), specifying the number of shares of Common Stock
to be purchased. Such exercise of an Option shall be effectuated by means of a “net exercise” procedure effected by withholding a number of shares of Common Stock (otherwise deliverable in connection with such exercise) having an aggregate
Fair Market Value equal to (1) the aggregate exercise price of the Options to be exercised and (2) the full amount of any payroll and income taxes required to be withheld in connection with the exercise of the applicable Options;
provided, that, in connection with such exercise, any such Participant shall be entitled to elect to pay to the Company in cash or other property reasonably acceptable to the Company all required amounts necessary to satisfy the amounts
described in (1) and/or (2). The Committee may, in its sole discretion and subject to applicable law, at the time the Option is granted or at a later date, permit other forms of payment in an Award Agreement or otherwise, including shares of
Common Stock or other contractual obligations of a Participant to make payment on a deferred basis. Any fractional shares of Common Stock shall be settled in cash. 

5.6 Vesting of Options. The Options granted in respect of the Emergence Awards shall vest, subject to a Participant’s continued
full-time employment or service with the Company through each applicable vesting date, (a) 20% (the “Initial Option Tranche”) upon the earlier to occur of (i) one hundred and eighty (180) days after the pricing of an
underwritten public offering of the Common Stock that occurs following the Effective Date and (ii) two (2) business days after the first day that the Common Stock becomes listed on a nationally recognized securities exchange through a direct listing
that does not occur in conjunction with an underwritten public offering (as applicable, the “Initial Vesting Date”), and (b) an additional 20% vesting on each of the next four anniversaries of the grant date. The Options
granted in respect of the Emergence Awards that are not vested or exercisable as of the date of a Participant’s termination of employment or service, as applicable, for any reason shall terminate and expire as of the date of such termination
for no consideration; provided, however, that if such termination of employment or service, as applicable, is a Qualifying Termination, then on the date of such Qualifying Termination, (1) 100% of the unvested Options shall vest if
such Qualifying Termination is on or before the first anniversary of the grant date; (2) 50% of the unvested Options shall vest if such Qualifying Termination is after the first anniversary and on or before the second anniversary of the grant date;
and (3) 25% of the 

  
 5 

 
unvested Options shall vest if such Qualifying Termination is after the second anniversary and on or before the third anniversary of the grant date; and provided, further, that if a Participant
undergoes a Qualifying Termination or is terminated due to death or Disability, in each case, prior to the Initial Vesting Date, the Initial Option Tranche shall vest and become exercisable upon date of such termination. For the avoidance of doubt,
Participants shall not be entitled to additional vesting in the event of a Qualifying Termination that occurs after the third anniversary of the grant date. For purposes of clarity, the vesting terms applicable to Options granted to (x) members
of the Board and (y) key members of management and service providers (other than in respect of the Emergence Awards) shall be set forth in the applicable Award Agreement, in either case, as approved by the Committee. 

5.7 Dividend Equivalents. No Option granted under the Plan shall provide for any dividends or dividend equivalents thereon. 

5.8 Non-Transferability of Options. Except to the extent provided above or as
otherwise determined by the Committee, no Option granted under the Plan shall be transferable by the Participant other than by will or the laws of descent and distribution, and all Options may be exercised, during the lifetime of the Participant,
only by the Participant or the Participant’s Legal Representatives, Options may not be assigned, transferred, pledged, hypothecated or disposed of in any way (whether by operation of law or otherwise) and shall not be subject to execution,
attachment or similar process, and any such attempted assignment, transfer, pledge, hypothecation or disposition shall be null and void ab initio and of no force or effect. 

5.9 Termination of Employment or Service. Except as may otherwise be expressly provided in the applicable Award Agreement,
(a) in the event of a Participant’s termination of employment or service with the Company or any of its Affiliates for any reason (other than as a result of a termination for Cause or death or Disability), the Participant may exercise, to
the extent exercisable on the date of such termination, any outstanding and vested Options on the date of such termination or at any time within a period of ninety (90) days from the date of such termination, but not thereafter and in no event
after the date the Options would otherwise have expired; (b) in the event of a Participant’s termination of employment or service with the Company or any of its Affiliates as a result of death or Disability, the Participant may exercise,
to the extent exercisable on the date of such termination, any outstanding and vested Options on the date of such termination or at any time within a period of one year from the date of such termination, but not thereafter and in no event after the
date the Options would otherwise have expired; and (c) in the event of a Participant’s termination of employment or service for Cause, any outstanding Options (both vested and unvested) shall automatically terminate on the date of such
termination. Except as may otherwise be expressly provided in the applicable Award Agreement or in this Plan, Options granted under the Plan to an employee shall not be affected by any change in the status of the Participant so long as the
Participant continues to be an employee of the Company or any of its Affiliates (regardless of having changed from one to the other or having been transferred from one corporation to another). 

  
 6 

 ARTICLE VI. RESTRICTED STOCK UNITS 

6.1 Awards of Restricted Stock Units. RSUs may be issued either alone or in addition to other Awards granted under the Plan. Subject to
the terms specified herein for the Emergence Awards, the Committee shall determine the Eligible Individuals, to whom, and the time or times at which, grants of such RSUs shall be made, the number of such RSUs to be awarded, the price (if any) to be
paid by the Participant, the time or times within which such RSUs may be subject to forfeiture, the vesting schedule and rights to acceleration thereof, and all other terms and conditions of such RSUs. No shares of Common Stock shall be issued at
the time an Award of RSUs is made, and the Company will not be required to set aside a fund for the payment of any such Award. 
 6.2
Restrictions. Delivery of Common Stock or cash, as determined by the Committee, will occur upon expiration of the deferred period specified for RSUs by the Committee. The Committee may condition an Award of RSUs or the lapse of restrictions with
respect to an Award of RSUs, in whole or in part, on the achievement of certain performance goals determined by the Committee in its sole discretion. 

6.3 Vesting of RSUs. The RSUs granted in respect of the Emergence Awards shall vest, subject to a Participant’s continued full-time
employment or service with the Company through each applicable vesting date, (a) 20% (the “Initial RSU Tranche”) upon the Initial Vesting Date, and (b) an additional 20% vesting on each of the next four anniversaries of the
grant date. In the event of a Participant’s termination of employment or service, as applicable, with the Company or any of its Affiliates for any reason, all RSUs granted in respect of the Emergence Awards that are not then vested shall be
forfeited for no consideration; provided, however, that, with respect to the RSUs granted in respect of the Emergence Awards, if such termination of employment or service, as applicable, is a Qualifying Termination, then on the date of
such Qualifying Termination, (1) 100% of the unvested RSUs shall vest if such Qualifying Termination is on or before the first anniversary of the grant date; (2) 50% of the unvested RSUs shall vest if such Qualifying Termination is after the first
anniversary and on or before the second anniversary of the grant date; and (3) 25% of the unvested RSUs shall vest if such Qualifying Termination is after the second anniversary and on or before the third anniversary of the grant date; and provided,
further, that if a Participant undergoes a Qualifying Termination or is terminated due to death or Disability, in each case, prior to the Initial Vesting Date, the Initial RSU Tranche shall vest upon the date of such termination. For the avoidance
of doubt, Participants shall not be entitled to additional vesting in the event of a Qualifying Termination that occurs after the third anniversary of the grant date. For purposes of clarity, the vesting terms applicable to RSUs granted to
(x) members of the Board and (y) key members of management and service providers (other than in respect of the Emergence Awards) shall be set forth in the applicable Award Agreement, in either case, as approved by the Committee. 

 6.4 Dividend Equivalents. Each RSU (representing one share of Common Stock) awarded to a Participant shall be credited with
dividends paid in respect of one share of Common Stock (“Dividend Equivalents”). Dividend Equivalents will be withheld by the Company for the Participant’s account, and interest may be credited on the amount of cash Dividend
Equivalents withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to a Participant’s account and attributable to any particular RSU (and earnings thereon, if applicable) shall be distributed
to the Participant upon settlement of such RSU and, if such RSU is forfeited, the Participant shall have no right to such Dividend Equivalents. 

  
 7 

 6.5 Non-Transferability. Except as otherwise
determined by the Committee, no RSU granted under the Plan shall be transferable by the Participant other than by will or the laws of descent and distribution and RSUs may not be assigned, transferred, pledged, hypothecated or disposed of in any way
(whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process, and any such attempted assignment, transfer, pledge, hypothecation or disposition shall be null and void ab initio and of
no force or effect. 
 6.6 Settlement of RSUs. At the time that the Company issues cash or any shares of Common Stock to a Participant
pursuant to the settlement of any RSUs, the Committee shall “net settle” such RSUs by withholding an amount of cash or, if applicable, number of shares of Common Stock otherwise deliverable in respect of an RSU, in either case, having an
aggregate Fair Market Value equal to the full amount of any payroll and income taxes required to be withheld in connection with such settlement of the applicable RSUs; provided, that, prior to such net settlement and in lieu thereof, any such
Participant shall be entitled to elect to pay to the Company in cash or other property reasonably acceptable to the Company all required amounts necessary for the Company to satisfy its obligation under applicable tax laws to withhold for income or
other taxes due upon or incident to such settlement. 
 ARTICLE VII. ADJUSTMENTS UPON CHANGES IN CAPITALIZATION 

7.1 The existence of the Plan and the Awards granted hereunder shall not affect in any way the right or power of the Board or the
stockholders of the Company to make or authorize (a) any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, (b) any merger or consolidation of the Company or any Affiliate,
(c) any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock, (d) the dissolution or liquidation of the Company or any Affiliate, (e) any sale or transfer of all or part of the
assets or business of the Company or any Affiliate or (f) any other corporate act or proceeding. 
 7.2 Subject to the
provisions of Section 7.1 hereof: 
 (a) In the event any recapitalization, forward or reverse split,
reorganization, merger, consolidation, spin-off, combination, repurchase, or exchange of shares of Common Stock or other securities, any stock dividend or other special and nonrecurring dividend or
distribution (whether in the form of cash, securities or other property), liquidation, dissolution, or other similar transactions or events (including a Change in Control), affects the shares of Common Stock such that an adjustment is reasonably
appropriate in order to prevent dilution or enlargement of the rights of Participants under the Plan, then the Board shall make an equitable or substitution adjustment in (i) the number and kind of shares of Common Stock deemed to be available

  
 8 

 
thereafter for grants of Awards under the Plan, (ii) the number and kind of shares of Common Stock that may be delivered or deliverable in respect of outstanding Awards, and/or
(iii) the exercise price of outstanding Options; provided, however, that the manner of any such equitable adjustment shall be determined in the good faith discretion of the Board. Moreover, in the event of any such transaction or
event or in the event of a Change in Control, the Board, in its good faith discretion, may provide in substitution for any or all outstanding Awards consideration that is no less favorable than the consideration provided to the Company’s
shareholders in connection with such transaction, event or Change in Control, and may require in connection therewith the surrender of all Awards so replaced; provided, however, that if an outstanding Option’s exercise price is
equal to or greater than the Fair Market Value of a share of Common Stock as of the date of the consummation of a Change of Control (as determined by the Board), such Option may be terminated at the discretion of the Board upon such Change of
Control without the payment of any consideration therefor. In addition, the Board shall have discretion to make the foregoing types of adjustments, as well as any adjustments to any performance goals, targets or measures with respect to any Award,
and as to all other matters it deems relevant, as it may determine appropriate and equitable in other types of events, including in the event of an acquisition or disposition of any of the businesses of the Company or its Affiliates occurring after
the date of grant of any Award. Any adjustments made pursuant to this Section 7.2 shall be determined in a manner consistent with Section 409A of the Code to the extent so required. 

(b) Fractional shares of Common Stock resulting from any adjustment in Awards pursuant to Section 7.1 or this
Section 7.2 shall be aggregated until, and eliminated at, the time of exercise or payment by rounding-down for fractions less than one-half and
rounding-up for fractions equal to or greater than one-half. No cash settlements shall be required with respect to fractional shares eliminated by rounding. Notice of
any adjustment shall be given by the Committee to each Participant whose Award has been adjusted and such adjustment (whether or not such notice is given) shall be effective and binding for all purposes of the Plan. 

ARTICLE VIII. UNFUNDED STATUS OF PLAN 

8.1 The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With respect to any payment
as to which a Participant has a fixed and vested interest but which are not yet made to a Participant by the Company, nothing contained herein shall give any such Participant any right that is greater than those of a general unsecured creditor of
the Company and the Company shall not be required to establish any fund or make any other segregation of assets to assure satisfaction of the Company’s obligations under the Plan. 

ARTICLE IX. GENERAL PROVISIONS 
 9.1
Compliance with Securities Laws. 
 (a) The Committee may require, in its sole discretion, as a condition to the exercise of any Option
hereunder or the settlement in shares of Common Stock of any RSU hereunder, that either (a) a registration statement under the Securities Act of 1933, as amended 

  
 9 

 
(the “Securities Act”), with respect to the issuance of the shares of Common Stock to be issued upon such grant, exercise or settlement shall be effective and current at the time
of grant, exercise or settlement, or (b) there is an exemption from registration under the Securities Act for the issuance of the shares of Common Stock upon such grant, exercise or settlement. Nothing herein shall be construed as requiring the
Company to register the issuance of the shares of Common Stock subject to any Award under the Securities Act or to keep any registration statement effective or current. 

(b) In addition, if at any time the Committee shall determine, in its sole discretion, that the listing or qualification of the shares of
Common Stock subject to any Award on any securities exchange or under any applicable law, or the consent or approval of any governmental agency or regulatory body, is necessary or desirable as a condition to, or in connection with, the granting of
an Award or the issuance of shares of Common Stock thereunder, such Award may not be granted and such Award may not be exercised or settled (as applicable) in whole or in part unless such listing, qualification, consent or approval shall have been
effected or obtained free of any conditions not acceptable to the Committee. 
 9.2 Award Agreements. Each Award shall be evidenced by
an appropriate Award Agreement which shall be duly executed by the Company and the Participant, and which shall contain such terms, provisions and conditions as are substantially reflected on the form Award Agreements attached hereto on Exhibits
B and C. In the event of a conflict between the terms of the Award Agreement and the Plan, the terms of the Plan shall govern. 

9.3 No Fractional Shares. In no case may a fraction of a share of Common Stock be purchased or issued under the Plan. 

9.4 Rights as a Stockholder. The holder of an Option or other Award shall not be deemed for any purpose, nor have any of the rights or
privileges of, a stockholder of the Company in respect of any shares of Common Stock purchasable upon the exercise of any part of an Option or deliverable in respect of such other Award unless, until and to the extent that (a) in the case of an
Option, such Option shall have been exercised pursuant to its terms, (b) the Company shall have issued and delivered such shares to such holder and (c) the holder’s name shall have been entered as a stockholder of record with respect
to such shares on the books of the Company. 
 9.5 No Right to Continued Employment or Engagement. Neither the Plan nor the grant of
any Award hereunder shall confer on any Participant any right with respect to continuance of employment or engagement by the Company or any of its Affiliates or a Participant’s service on the Board, or interfere in any way with any right of the
Company or any of its Affiliates to terminate the Participant’s employment or engagement at any time for any reason whatsoever without liability to the Company or any of its Affiliates. For purposes of the Plan, a sale of any Affiliate of
the Company that employs or engages a Participant shall be treated as the termination of such Participant’s employment or engagement without Cause. 

  
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 9.6 Amendments and Termination of the Plan. The Board may, at any time, alter, amend,
suspend, discontinue, or terminate this Plan; provided, however, that (a) no such action shall materially adversely affect the rights of any Participant with respect to Awards previously granted hereunder and (b) no such
action shall amend Section 2.2 herein. The power of the Committee to construe and administer any Award granted under the Plan prior to the termination or suspension of the Plan nevertheless shall continue after such
termination or during such suspension. 
 9.7 Legends; Payment of Expenses. The Company may endorse such legend or legends upon the
certificates for shares of Common Stock issued upon exercise or settlement of an Award under the Plan and may issue such “stop transfer” instructions to its transfer agent in respect of such shares as it determines, in its discretion, to
be necessary or appropriate to (a) prevent a violation of, or to qualify for an exemption from, the registration requirements of the Securities Act and any applicable state securities laws, or (b) implement the provisions of the Plan or
any agreement between the Company and a Participant with respect to such shares of Common Stock. 
 9.8 No Assignment of Benefits. No
Award or other benefit payable under the Plan shall, except as otherwise specifically provided by law or permitted by the Committee, be transferable in any manner, and any attempt to transfer any such benefit shall be void, and any such benefit
shall not in any manner be liable for or subject to the debts, contracts, liabilities, engagements or torts of any Person who shall be entitled to such benefit, nor shall it be subject to attachment or legal process for or against such Person. 

9.9 Other Requirements. Notwithstanding anything herein to the contrary, as a condition to the receipt of shares of Common Stock
pursuant to an Award under the Plan, to the extent required by the Committee, the Participant shall execute and deliver documentation that shall set forth certain restrictions on transferability of the shares of Common Stock acquired upon exercise,
purchase or settlement as the Committee shall from time to time establish in the applicable Award Agreement. 
 9.10 Death/Disability.
The Committee may in its discretion require the transferee of a Participant to supply it with written notice of the Participant’s death or Disability and to supply it with a copy of the will (in the case of the Participant’s death) or such
other evidence as the Committee deems necessary to establish the validity of the transfer of the Award. The Committee may also require that the agreement of the transferee to be bound by all of the terms and conditions of the Plan and the applicable
Award Agreement. 
 9.11 Section 409A of the Code. Awards granted under the Plan are intended to comply with, or be
exempt from, the applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent. To the extent that any Award is subject to Section 409A of the Code, it shall be paid in a
manner that will comply with or be exempt from Section 409A of the Code, including proposed, temporary or final regulations or any other guidance issued by the Secretary of the Treasury and the Internal Revenue Service with respect thereto. The
Company shall have no liability to a Participant, or any other Person, if an 

  
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Award that is intended to be exempt from, or compliant with, Section 409A of the Code is not so exempt or compliant or for any action taken by the Committee or the Company and, in the event
that any amount or benefit under the Plan becomes subject to penalties under Section 409A of the Code, responsibility for payment of such penalties shall rest solely with the affected Participants and not with the Company. Notwithstanding any
contrary provision in the Plan or Award Agreement, any payment(s) of “nonqualified deferred compensation” (within the meaning of Section 409A of the Code) that are otherwise required to be made under the Plan to a “specified
employee” (as defined under Section 409A of the Code) as a result of such employee’s separation from service (other than a payment that is not subject to Section 409A of the Code) shall be delayed for the first six
(6) months following such separation from service (or, if earlier, the date of death of the specified employee) and shall instead be paid (in a manner set forth in the Award Agreement) upon expiration of such delay period. Furthermore,
notwithstanding any contrary provision of the Plan or Award Agreement, any payment of “nonqualified deferred compensation” (within the meaning of Section 409A of the Code) under the Plan that may be made in installment shall be
treated as a right to receive a series of separate and distinct payments. 
 9.12 Governing Law; Construction. The Plan, any Award
Agreement and the actions taken in connection therewith and all related matters shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to conflict of law provisions. Neither the Plan nor any Award
Agreement shall be construed or interpreted with any presumption against the Company by reason of the Company causing the Plan or any Award Agreement to be drafted. Whenever from the context it appears appropriate, any term stated in either the
singular or plural shall include the singular and plural, and any term stated in the masculine, feminine or neuter gender shall include the masculine, feminine and neuter. 

9.13 Jurisdiction; Waiver of Jury Trial. Any suit, action or proceeding with respect to the Plan or any Award Agreement, or any judgment
entered by any court of competent jurisdiction in respect of any thereof, shall be resolved only in the courts of the State of Delaware or the United States District Court for the District of Delaware and the appellate courts having jurisdiction of
appeals in such courts. In that context, and without limiting the generality of the foregoing, the Company and each Participant shall irrevocably and unconditionally (a) submit in any proceeding relating to the Plan or any Award Agreement, or
for the recognition and enforcement of any judgment in respect thereof (a “Proceeding”), to the exclusive jurisdiction of the courts of the State of Delaware, the court of the United States of America for the District of Delaware,
and appellate courts having jurisdiction of appeals from any of the foregoing, and agree that all claims in respect of any such Proceeding shall be heard and determined in such Delaware State court or, to the extent permitted by law, in such federal
court, (b) consent that any such Proceeding may and shall be brought in such courts and waives any objection that the Company and each Participant may now or thereafter have to the venue or jurisdiction of any such Proceeding in any such court
or that such Proceeding was brought in an inconvenient court and agree not to plead or claim the same, (c) waive all right to trial by jury in any Proceeding (whether based on contract, tort or otherwise) arising out of or relating to the Plan
or any Award Agreement, (d) agree that service of process in any such Proceeding may be effected by mailing a copy of such process by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such party, in
the case of a Participant, at the Participant’s address shown in the books and records of the Company or, in the case of the Company, at the Company’s principal offices, attention General Counsel, and (e) agree that nothing in the
Plan shall affect the right to effect service of process in any other manner permitted by the laws of the State of Delaware. 

  
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 9.14 Severability of Provisions. The invalidity, illegality or unenforceability of
any provision in the Plan, any Award or Award Agreement shall not affect the validity, legality or enforceability of any other provision, all of which shall be valid, legal and enforceable to the fullest extent permitted by applicable law. 

9.15 Modification for Grants Outside the United States. The Board or the Committee may, without amending the Plan, determine the terms
and conditions applicable to grants to individuals who are foreign nationals or employed outside the United States in a manner otherwise inconsistent with the Plan if the Board or the Committee deems such terms and conditions necessary in order to
recognize differences in local law or regulations, tax policies or customs. 
 9.16 Successors and Assigns. The Plan and any
applicable Award Agreement(s) shall be binding on all successors and permitted assigns of a Participant, including, without limitation, the estate of such Participant and the executor, administrator or trustee of such estate. 

9.17 Headings and Captions. The headings and captions herein are provided for reference and convenience only, shall not be considered
part of the Plan, and shall not be employed in the construction of the Plan. 
 9.18 Effective Date and Term of Plan. The Plan shall
become effective on the effective date of iHeartMedia, Inc.’s emergence from its voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas,
Houston Division pursuant to a confirmed Plan of Reorganization (the “Effective Date”). No Awards shall be granted under the Plan after the tenth (10th) anniversary of the Effective Date, but Awards previously granted may extend
beyond such date. 
 ARTICLE X. DEFINITIONS 

10.1 Definitions. For purposes of the Plan, the following terms shall be defined as set forth below: 

(a) “Affiliate” means any Person that, directly or indirectly, controls, is controlled by, or is under common control
with, the Company. The term “control” (including, with correlative meaning, the terms “controlled by” and “under common control with”), as applied to any Person, means the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting or other securities, by contract or otherwise; provided that, in any event, any business in which the Company has
any direct or indirect ownership interest shall be treated as an Affiliate of the Company. 

  
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 (b) “Award” means any Option or Restricted Stock Unit granted under
the Plan. 
 (c) “Award Agreement” means the written or electronic agreement setting forth the terms and conditions
applicable to an Award. 
 (d) “Board” or “Board of Directors” shall mean the Board of
Directors of the Company. 
 (e) “Cause” shall have the meaning ascribed to such term in any employment, offer letter
or similar agreement between a Participant and the Company or any of its Affiliates, if applicable, the applicable Award Agreement (other than in respect of the Emergence Awards) or in the absence of any such employment (or similar) agreement or
definition in an applicable Award Agreement, “Cause” means the Participant’s (i) willful failure to substantially perform the Participant’s duties (other than any such failure resulting from the Participant’s physical
or mental incapacity) that continues after written notice from the Company; (ii) willful misconduct, gross negligence, breach of fiduciary duty in connection with the performance of the Participant’s duties, (iii) fraud, theft,
embezzlement or material misuse of funds or property belonging to the Company or its Affiliates; (iv) indictment with respect to, or plea of nolo contendere to, any felony (or state law requirement) or any crime involving fraud or moral
turpitude; (v) a breach of any material policy or code of conduct established by the Company or any of its Affiliates, (vi) a material breach of any restrictive covenants to which the Participant is subject, including, without limitation,
confidentiality, non-disparagement, non-compete and non-solicit covenants, (vii) reporting to work under the influence of
alcohol or illegal drugs or the use of illegal drugs (whether or not at the workplace); provided, however, that with respect to (i), (ii), (v), (vi), or (vii) above, any determination of “Cause” may not be made until the
Participant has been given written notice detailing the specific Cause event and a period of ten (10) days following receipt of such notice to cure such event (if susceptible to cure). With respect to a Participant who is a non-employee member of the Board, “Cause” means the Participant’s act or failure to act that constitutes cause for removal of a director under applicable Delaware law. 

(f) “Change in Control” Unless otherwise determined by the Committee in the applicable Award Agreement or other written
agreement with a Participant approved by the Committee, a “Change in Control” shall be deemed to occur if: (a) any “person,” as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than the Company, any
trustee or other fiduciary holding securities under any employee benefit plan of the Company, or any company owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of Common Stock
of the Company), becoming the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the combined
voting power of the Company’s then outstanding securities, excluding for purposes herein, acquisitions pursuant to a Business Combination (as defined below) that does not constitute a Change in Control in subsection (b) herein; (b) a
merger, reorganization, or consolidation of the Company or in which equity securities of the Company are issued (each, a “Business Combination”), other than a merger, 

  
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reorganization or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving entity or its Parent) more than fifty percent (50%) of the combined voting power of the voting securities of the Company or such surviving entity (or, as applicable, the Parent of the Company
or such surviving entity) outstanding immediately after such merger or consolidation; provided, however, that a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no person
(other than those covered by the exceptions in clause (a) herein) acquires more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities shall not constitute a Change in Control of the Company;
(c) a complete liquidation or dissolution of the Company or the consummation of a sale or disposition by the Company of all or substantially all of the Company’s assets other than the sale or disposition of all or substantially all of the
assets of the Company to a person or persons who beneficially own, directly or indirectly, fifty percent (50%) or more of the combined voting power of the outstanding voting securities of the Company at the time of the sale; or (d) during any
period of 24 consecutive calendar months, individuals who were directors of the Company on the first day of such period (the “Incumbent Directors”) cease for any reason to constitute a majority of the Board; provided,
however, that any individual becoming a director subsequent to the first day of such period whose election, or nomination for election, by the Company’s stockholders was approved by a vote of at least a majority of the Incumbent
Directors will be considered as though such individual were an Incumbent Director, but excluding, for purposes of this proviso, any such individual whose initial assumption of office occurs as a result of an actual or threatened proxy contest with
respect to election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a “person” (as used in Section 13(d) of the Exchange Act), in each case, other than the Board.
Notwithstanding the foregoing, with respect to any Award that is characterized as “nonqualified deferred compensation” within the meaning of Section 409A of the Code, an event shall not be considered to be a Change in Control under
the Plan for purposes of payment of such Award unless such event is also a “change in ownership,” a “change in effective control” or a “change in the ownership of a substantial portion of the assets” of the Company
within the meaning of Section 409A of the Code. 
 (g) “Code” means the Internal Revenue Code of 1986, as
amended, and any successor thereto. 
 (h) “Committee” means (i) the Compensation Committee of the Board, or
such other committee as may be appointed by the Compensation Committee or the Board or (ii) in the absence of any such committee, the Board. 

(i) “Common Stock” means the shares of voting common stock of the Company, par value $0.001 per share. 

(j) “Company” shall have the meaning set forth in Section 1.1 hereof. 

  
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 (k) “Disability” means a permanent and total disability within the
meaning of Section 22(e)(3) of the Code, provided that such condition is also a “disability” within the meaning of Section 409A(a)(2)(C) of the Code. 

(l) “Dividend Equivalents” shall have the meaning set forth in Section 6.4 hereof. 

(m) “Effective Date” shall have the meaning set forth in Section 9.18 hereof. 

(n) “Eligible Individual” shall have the meaning set forth in Section 1.1 hereof. 

(o) “Emergence Awards” shall have the meaning set forth in Section 2.2 hereof. 

(p) “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto. 

(q) “Fair Market Value” means as of any applicable date, (i) if the Common Stock is readily tradable on an
“established securities market” (within the meaning of Treas. Reg. § 1.409A-1(b)(5)(iv)(A)), the closing price of the Common Stock on such market as of the applicable date, or if no sale of
the Common Stock shall have occurred on such date, on the immediately preceding date on which there was a reported sale; or (ii) if the Common Stock is not readily tradable on an established securities market, the Board of Directors’ good
faith determination of the fair market value of one share of Common Stock as of the applicable reference date. 
 (r) “Good
Reason” shall have the meaning ascribed to such term in any employment, offer letter or similar agreement between a Participant and the Company or any of its Affiliates, if applicable (with respect to any “Good Reason”
event that occurs after the Effective Date), the applicable Award Agreement (other than in respect of the Emergence Awards) or in the absence of any such employment (or similar) agreement or definition in an applicable Award Agreement, “Good
Reason” means, without the Participant’s express written consent, the occurrence of any of the following events after the Effective Date with respect to a Participant who is a key member of management (as designated in the
Participant’s Award Agreement): 
 (i) the assignment to the Participant of any position(s), duties or responsibilities (including
reporting responsibilities) that constitutes a materially adverse change or material diminution in the Participant’s position(s), duties or responsibilities with the Company (other than temporarily while incapacitated because of physical or
mental illness), 
 (ii) a materially adverse change in the Participant’s titles or offices with the Company; 

  
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 (iii) a material reduction by the Company in the Participant’s rate of annual base
salary or annual target cash bonus opportunity; 
 (iv) any requirement of the Company that the Participant’s principal office location
be more than fifty (50) miles from his or her location as of the Effective Date; or 
 (v) any material breach of the Plan or an
applicable Award Agreement by the Company. 
 Notwithstanding the foregoing, a Good Reason event shall not be deemed to have occurred if the
Company cures such action, failure or breach within forty-five (45) days after receipt of notice thereof given by the Participant. The Participant’s right to terminate employment for Good Reason shall not be affected by the
Participant’s incapacities due to mental or physical illness and the Participant’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any event or condition constituting Good Reason.
Notwithstanding anything to the contrary in this Agreement, no termination will be deemed to be for Good Reason hereunder unless (A) the Participant provides written notice to the Company identifying the applicable event within sixty
(60) days after the Participant becomes aware (or reasonably should have become aware) of such event(s), (B) the Company fails to remedy the event within the applicable cure period following such notice, and (C) the Participant terminates
his or her employment as a result of such failure to cure within sixty (60) days after the end of such cure period. 
 (s)
“Legal Representative” means the executor, administrator or other Person who at the time is entitled by law to exercise the rights of a deceased or incapacitated Participant with respect to an Award granted under the Plan.

 (t) “Management Reserve” shall have the meaning set forth in Section 2.1 hereof. 

(u) “Non-Qualified Stock Option” means any Option other than an
incentive stock option as defined in Section 422 of the Code and any successor thereto. 
 (v) “Option” means
any stock option to purchase shares of Common Stock granted to Eligible Individuals pursuant to Article V of the Plan. 
 (w)
“Parent” shall have the same meaning as “parent corporation” as defined in Section 424(e) of the Code. 

(x) “Participant” means an Eligible Individual who has been selected by the Board to participate in the Plan and to
whom an Award has been granted pursuant to the Plan. 
 (y) “Person” means an individual, a
partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency, or political subdivision thereof, or any
other entity or organization. 

  
 17 

 (z) “Plan” shall have the meaning ascribed to such term in
Section 1.1. 
 (aa) “Proceeding” shall have the meaning set forth in
Section 9.13 hereof. 
 (bb) “Qualifying Termination” means a Participant’s
termination of employment by the Company without Cause or by the Participant for Good Reason. 
 (cc) “Restricted Stock
Unit” or “RSU” means a right granted to an Eligible Individual pursuant to Article VI of the Plan to receive Common Stock or cash, as determined by the Committee, at the end of a specified period, which
right may also be conditioned, in whole or in part, on the satisfaction of specified performance or other criteria. 
 (dd)
“Section 409A of the Code” means, collectively, Section 409A of the Code, as amended, and the regulations and guidance promulgated thereunder. 

(ee) “Securities Act” shall have the meaning set forth in Section 9.1 hereof. 

(ff) “Subsidiary” means any company (whether a corporation, partnership, joint venture or other form of entity) in
which the Company has a direct or indirect “controlling interest,” within the meaning of Treas. Reg. § 1.409A-1(b)(5)(ii)(E)(1). 

  
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