Document:

Idearc Inc. Executive Transition Plan

 Exhibit 10.1 
 IDEARC INC. 
 EXECUTIVE TRANSITION PLAN 
 (Effective as of April 3, 2007) 
 1. Purpose. The purpose of the
Executive Transition Plan (the “Plan”) is to provide certain protections to covered executives in the event their employment is involuntarily terminated, including in connection with a Change in Control of the Company. It is intended that
having the protections provided by the Plan will alleviate personal concerns that covered executives might otherwise have about uncertainties that may arise in the face of certain business exigencies and opportunities the Company may have from time
to time and, in turn, provide greater assurance to the Company and its shareholders that the covered executives will be able to maintain their undivided focus on and attention to the business and interests of the Company and the enhancement of
shareholder value. 
 2. Certain Definitions. 
 (a) “Affiliate” means any entity at least 50% of the voting, capital or profit interests of which are owned directly or indirectly by the Company. 
 (b) “Cause” means a participant’s (a) conviction or plea of nolo contendre to a felony; (b) commission of fraud or a material
act or omission involving dishonesty with respect to the Company or its Affiliates, as reasonably determined by the Company; (c) willful failure or refusal to carry out the material responsibilities of his or her employment, as reasonably
determined by the Company; (d) gross negligence, willful misconduct, or engaging in a pattern of behavior which has had or is reasonably likely to have a significant adverse effect on the Company, as reasonably determined by the Company; or
(e) willfully engaging in any act or omission that is in material violation of a material policy of the Company, including, without limitation, policies on business ethics and conduct, and policies on the use of inside information and insider
trading. 
 (c) “Change in Control” means the occurrence of any of the following: 
 (i) any person, as such term is used in Section 13(d) and 14(d) of the Exchange Act, other than (1) the Company, (2) any trustee or other
fiduciary holding securities under an employee benefit plan of the Company, (3) any entity owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of stock of the Company, or
(4) any person who becomes a beneficial owner (as defined below) in connection with a transaction described in clause (1) of subparagraph (iii) below, is or becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such person any securities acquired directly from the Company or its affiliates) representing 40 percent or more of the combined voting
power of the Company’s then outstanding voting securities; 
 (ii) the following individuals cease for any reason to constitute a
majority of the directors then serving: individuals who on December 31, 2006, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest,
including but not limited to a consent solicitation relating to the election of directors of the Company) whose appointment or election 

 
by the Board or nomination for election by the Company’s shareholders was approved or recommended by a vote of at least two-thirds of the directors then
still in office who were directors on December 31, 2006, or whose appointment, election or nomination for election was previously so approved or recommended; 
 (iii) there is consummated a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other entity, other than (1) a merger or consolidation which results in the
directors of the Company immediately prior to such merger or consolidation continuing to constitute at least a majority of the board of directors of the Company, the surviving entity or any parent thereof or (2) a merger or consolidation
effected to implement a recapitalization of the Company (or similar transaction) in which no person is or becomes the beneficial owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such
person any securities acquired directly from the Company or its affiliates) representing 40% or more of the combined voting power of the Company’s then outstanding securities; 
 (iv) the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the
sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition by the Company of all or a majority of the Company’s assets, income or revenue to an entity, at least 50% of the
combined voting power of the voting securities of which are owned by shareholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale; or 
 (v) any other transaction or event occurs that is designated by the Company’s Board of Directors as a “Change in Control” for purposes of
this Agreement or that would be required to be reported as a “change in control” on Form 8-K under the Exchange Act. 
 (d)
“Code” means the Internal Revenue Code of 1986, as amended. 
 (e) “Committee” means the Human Resources Committee of the
Board of Directors of the Company. 
 (f) “Company” means Idearc Inc., a Delaware corporation, and any successor thereto.

 (g) “Disability” means the inability of a participant to perform the material duties of his or her employment by reason of a
medically determinable physical or mental impairment that can be expected to result in death or that has lasted or is expected to last for a continuous period of at least 12 months, as determined by a duly licensed physician selected by the
Committee. 
 (h) “Exchange Act” means the Securities Exchange Act of 1934. 
 (i) “Good Reason” means (i) a material adverse change in a participant’s status or position, including, without limitation, any
material adverse change resulting from a diminution in the participant’s position, duties, responsibilities or authority or the assignment to the participant of duties or responsibilities that are materially inconsistent with his or her status

  

 2 

 
or position or, if applicable, a material breach by the Company of a participant’s employment agreement; (ii) a reduction in the participant’s
annual base salary or a failure to pay same; (iii) a reduction in the participant’s target incentive award opportunities, expressed as a percentage of the participant’s base salary; (iv) the relocation of the participant’s
principal place of employment by more than 50 miles from the current location; or (v) at the time of a Change in Control, the successor or acquiring company fails or refuses to assume the obligations of the Company under this Plan or, if
applicable, the participant’s employment agreement. Before terminating employment for Good Reason, a participant must specify in writing to the Company the nature of the act or omission that the participant deems to constitute Good Reason and
provide the Company 30 days after receipt of such notice to review and, if required, correct the situation (and thus prevent the participant’s termination for Good Reason). 
 (j) “Long-Term Incentive Award” means any equity-based or other incentive award (other than an annual incentive award) that is subject to
vesting or forfeiture conditions. 
 3. Administration. 
 (a) The Committee. The Plan shall be administered by the Committee. Subject to the provisions of the Plan, the Committee, acting in its sole and absolute discretion, shall have full power and authority to
interpret, construe and apply the provisions of the Plan and to take such actions as it deems necessary or appropriate in order to carry out the provisions of the Plan. The decision of the Committee as to any question or issue arising under or in
connection with the Plan or an individual’s participation in the Plan shall be final and conclusive on all persons. The Committee may delegate to other persons such duties and functions as it deems appropriate in connection with the
administration of the Plan. 
 (b) Indemnification. The Company shall indemnify and hold harmless each member of the Committee and any
employee or director of the Company or an Affiliate to whom any duty or function relating to the administration of the Plan is delegated from and against any loss, cost, liability (including any sum paid in settlement of a claim with the approval of
the Board), damage and expense (including legal and other expenses incident thereto) arising out of or incurred in connection with the Plan, unless and except to the extent attributable to such person’s fraud or willful misconduct. 

4. Participation. The Plan covers employees of the Company or an Affiliate who are in compensation bands 1, 2 or 3. 
 5. Involuntary Termination of Participant’s Employment Without Cause—General. Subject to Section 10 (imposing additional conditions
with respect to payments and benefits under the Plan) and except as otherwise provided in Section 6 (relating to involuntary termination in conjunction with a Change in Control) or Section 8 (relating to termination due to death or
disability), if the Company or an Affiliate terminates a participant’s employment without Cause, the participant shall be entitled to receive the following payments and benefits: 
 (a) a single sum cash payment equal to the sum of (1) any unpaid base salary earned by the terminated participant through the date of his or her
termination of employment, and (2) any unpaid short term incentive award earned by the participant for the preceding year; 
  

 3 

 (b) payment of any business expenses that were previously incurred but not reimbursed and are otherwise
eligible for reimbursement; 
 (c) any payments or benefits which are payable to the terminated participant or any covered spouse, dependent
or beneficiary of the terminated participant, under and in accordance with the provisions of any employee plan, program or arrangement of the Company or an Affiliate (other than the Plan); 
 (d) a single sum cash payment equal to a proportionate amount of the terminated participant’s target short term incentive award for the calendar
year in which the participant’s employment terminates, based upon the number of days elapsed since the beginning of such calendar year; 
 (e) a single sum cash payment equal to the product of X multiplied by Y, where— 
 X =
1.0 if the terminated participant is, or at any time during the period of his or her participation in the Plan was, in compensation band 2 or 3 (or their equivalents), and 2.0 if the terminated participant is, or at any time during the period of his
or her participation in the Plan, was in compensation band 1; and 
 Y = the sum of (1) the terminated participant’s
highest annual rate of base salary at any time during the preceding 24 months, and (2) the participant’s target short term incentive award for the calendar year in which his or her employment terminates (or, if greater, the actual annual
short term incentive award earned by the terminated participant for the preceding calendar year); 
 (f) effective on the date of the
participant’s termination of employment, the terminated participant shall become vested in such portion (which may be zero) of his or her outstanding Company Long-Term Incentive Awards as determined by the Committee in its sole and absolute
discretion; 
 (g) if applicable, the terminated participant will continue to participate in the Company’s Executive Life Insurance
Program for the longer of (1) the number of months following the termination of his or her employment equal to the product of 12 multiplied by the severance multiplier (X) determined under 5(e) above (or, if earlier,
until the participant’s death) as if such employment had continued at the terminated participant’s highest annual rate of base salary in effect at any time during the 24 months preceding the participant’s actual termination of
employment, or (2) the period provided by such Program; 
 (h) if the terminated participant and/or any spouse or dependent participates
(other than via COBRA) in a Company group health plan, then, for the number of months equal to the product of 12 multiplied by the severance multiplier (X) determined under Section 5(e) above or, if sooner, until
corresponding coverage is obtained under a successor employer’s plan, the terminated participant and/or such spouse and/or dependents may elect to continue participating in such plan at the same benefit and contribution levels in effect
immediately before 

  

 4 

 
the termination of the participant’s employment (which continuing participation will be deemed to be in addition to and not in lieu of COBRA), or, if
such coverage is not permitted by the plan or by applicable law, Company will provide COBRA continuation coverage to such terminated participant and/or spouse or dependent, at the Company’s sole expense, if and to the extent any of such persons
elects and is entitled to receive COBRA continuation coverage; 
 (i) the terminated participant will continue to receive such perquisites
(including, without limitation, any flexible allowance and financial planning services) as were made available to the participant at any time during the 12 months preceding the participant’s actual termination of employment for the number of
months equal to the product of 12 multiplied by the severance multiplier (X) determined under Section 5(e) above; and 
 (j) outplacement services for up to one year with a reputable firm selected by the Company. 
 6.
Involuntary Termination of a Participant’s Employment Without Cause in Conjunction with a Change in Control. Subject to Section 10 (relating to other agreements that may be applicable and restoration of payments due to a terminated
participant’s violation of restrictive covenants and the execution and delivery of a release), if the Company or an Affiliate terminates a participant’s employment without Cause during the period beginning six months prior to the date of a
Change in Control (or, if earlier, the date a definitive agreement is signed with respect to the Change in Control) and ending on the first anniversary of the Change in Control, or if a participant terminates his or her employment for Good Reason
within one year after the consummation of a Change in Control, then the terminated participant shall be entitled to receive the payments and benefits described in Section 5, except that, for the purpose of the severance calculation under this
section 6, the calculation in Section 5(e) will be modified such that the severance multiplier (X) will be (a) 2.0 with respect to a terminated participant who is or who, at any time during the period of his or her
participation in the Plan, was in compensation band 2 or 3, and (b) 3.0 with respect to a terminated participant who is, or at any time during the period of his or her participation in the Plan, was in compensation band 1. If a participant is
entitled to receive payments and benefits under this Section 6 due to a termination of employment prior to but in conjunction with a Change in Control and if, with respect to such termination of employment, the participant receives payments or
benefits under Section 5, then, in order to avoid duplication, the payments and benefits to which the participant is entitled under this Section 6 will be reduced by the payments and benefits which the participant has received under
Section 5. 
 7. Effect of a Change in Control on Long-Term Incentive Awards. All outstanding Company Long-Term Incentive Awards
held by a participant shall become fully vested immediately before the occurrence of a Change in Control if the participant is then still employed by the Company or an Affiliate, with the payout under any performance-based award being equal to the
target amount. 
 8. Termination Due to Death or Disability. In the event that a participant’s employment terminates due to death
or is terminated by the Company due to Disability, (a) the participant (or the participant’s beneficiary, as the case may be) shall be entitled to receive an amount equal to the sum of (1) six months’ base salary, plus
(2) pro rata target bonus for the year 

  

 5 

 
in which the participant’s employment terminates, payable in the form of a single-sum cash payment as soon as practicable but not more than sixty days
following such termination of employment, (b) if the participant’s employment terminates due to Disability, the participant shall be entitled to two years of continuing group health and welfare benefits (including continuing participation
in the Company’s Executive Life Insurance Program and conversion of any life or disability policies) at the Company’s expense, and (c) the participant (or beneficiary) shall become vested in such portion (which may be zero) of his or
her outstanding Company Long-Term Incentive Awards as determined by the Committee in its sole and absolute discretion. 
 9. Excise Tax
Payments. If a participant is entitled to receive payments and benefits under the Plan and if, when combined with the payments and benefits the participant is entitled to receive under any other plan, program or arrangement, the participant
would be subject to excise tax under Section 4999 of the Code, then the Company shall make “gross-up” payments to the participant in the amount(s), at the time(s) and upon the terms and conditions set forth in Exhibit A annexed to the
Plan and incorporated herein by reference. 
 10. Additional Conditions of Severance Payments. 
 (a) Effect of Other Agreements. Notwithstanding the provisions hereof, if a terminated participant is entitled to receive a payment or benefit
under the Plan and the terminated participant is also entitled to receive a payment or benefit under similar circumstances from the Company or an Affiliate under another plan or agreement, then the Company may reduce the amount of the corresponding
payment or adjust the corresponding benefit to which the participant (or the participant’s beneficiary) is entitled under the Plan if and to the extent reasonably necessary in order to avoid an unintended duplication of any such payment or
benefit. 
 (b) Restoration. Any severance payments and benefits due, made or provided pursuant to the Plan shall be subject to
continuing compliance with the restrictive covenants described in Exhibit B annexed to and made a part of the Plan, and repayment pursuant to this Section 10(b). As a condition of coverage under the Plan, each participant is subject to the
restrictions described in Exhibit B. If a participant violates or is in breach of any restrictions set forth in Exhibit B (the determination of which shall be made in the discretion of the Committee), then (1) the participant shall not be
entitled to any further severance payments and benefits under the Plan, (2) the participant shall immediately return to the Company any severance payments and the value of any severance benefits previously received hereunder, and (3) the
participant shall have no further rights or entitlements under the Plan. This Section 10(b) shall not in any manner supersede or limit any other right the Company may have to enforce or seek legal or equitable relief based on the Plan or
Exhibit B. 
 (c) Release of Claims. Notwithstanding anything herein to the contrary, any and all severance payments or benefits
payable under the Plan shall be conditioned on the execution and delivery of a general release by the participant in favor of the Company, its Affiliates and their officers, directors and employees, in such form as the Committee may specify. Any
such payment or benefit shall be deferred until the expiration of the seven day revocation period prescribed by the Age Discrimination in Employment Act of 1967, as amended, or any similar revocation period in effect on the effective date of the
termination of the participant’s employment. 
  

 6 

 11. No Duty to Mitigate/Set Off. Except as otherwise provided in the Plan or in an employment or
other agreement, a participant entitled to receive any payment or benefits hereunder shall not be required to seek other employment or to attempt in any way to reduce any amounts payable to him or her pursuant to the Plan and the payments and
benefits payable hereunder shall not be reduced by any compensation earned by the participant as a result of employment or consultancy with another person. 
 12. Amendment and Termination. The Committee may amend the Plan at any time and from time to time and the Committee may terminate the Plan at any time after December 31, 2010, provided, however, that any
such action which would have an adverse effect on the amount, timing or value of the payments or benefits a participant is or otherwise may become entitled to receive under the Plan shall not be effective with respect to the participant (a) if
his or her employment terminates before or within six months after the date such action is taken and written notice thereof is furnished to the participant, and/or (b) prior to the first anniversary of a Change in Control if such action is
taken (1) on the day of or subsequent to the Change in Control, (2) prior to the Change in Control, but at the request of a third party participating directly or indirectly in the Change in Control, or (3) otherwise in connection with
or in anticipation of the Change in Control. 
 13. Successors and Beneficiaries. 
 (a) Successors and Assigns of Company. The Company shall require any successor or assignee, whether direct or indirect, by purchase, merger,
consolidation or otherwise, of all or substantially all the business or assets of the Company, expressly and unconditionally to assume and agree to perform or cause to be performed the Company’s obligations under the Plan in the same manner and
to the same extent that the Company would be required to perform if no such succession or assignment had taken place. In any such event, the term “Company,” as used in the Plan shall mean the Company, as defined above and any such
successor or assignee. 
 (b) Beneficiary of Deceased Participant. For the purposes hereof, a deceased participant’s beneficiary
will be the person or persons designated as such in a written Plan beneficiary designation filed with the Committee or its designee, which may be revoked or revised in the same manner at any time prior to the participant’s death. In the absence
of a properly filed written Plan beneficiary designation or if no designated beneficiary survives a participant, the deceased participant’s estate will be deemed to be the participant’s beneficiary hereunder. 
 14. Miscellaneous. 
 (a)
Nonassignability. With the exception of a participant’s beneficiary designation, no participant or beneficiary may pledge, transfer or assign in any way his or her right to receive payments under the Plan, and any attempted pledge,
transfer or assignment shall be void and of no force or effect. 
  

 7 

 (b) Legal Fees to Enforce Rights after a Change in Control. If, following a Change in Control, the
Company fails to comply with any of its obligations under the Plan or the Company takes any action to declare the Plan void or unenforceable or institutes any litigation or other legal action designed to deny, diminish or to recover from any
participant (or beneficiary) the payments and benefits intended to be provided, then such participant (or beneficiary, as the case may be) shall be entitled to retain counsel of his or her choice at the expense of the Company to represent such
participant (or beneficiary, as the case may be) in connection with the good faith initiation or defense of any litigation or other legal action, whether by or against the Company or any director, officer, stockholder or other person affiliated with
the Company or any successor thereto in any jurisdiction. 
 (c) Not a Contract of Employment. The terms and conditions of the Plan
shall not be deemed to constitute a contract of employment between any participant and the Company or any of its Affiliates. Nothing in the Plan shall be deemed to give any employee the right to be retained in the employ or other service of the
Company or any of its Affiliates or to interfere with the right of the Company or any of its Affiliates to terminate a participant’s employment at any time. 
 (d) Governing Law. The Plan shall be governed by the laws of the State of Texas, excluding its conflict of law rules. 
 (e) Withholding. The Company and its Affiliates may withhold from any and all amounts payable under the Plan such federal, state and local taxes as may be required to be withheld pursuant to any applicable law
or regulation. 
  

 8 

 EXHIBIT A 
 Excise Tax Gross-Up 
 1. Gross-Up Payment. If any payment or benefit received or to be
received by a participant from the Company pursuant to the terms of the Plan to which this Exhibit A is attached (the “Plan”) or otherwise (the “Payments”) would be subject to the excise tax (the “Excise Tax”) imposed
by Section 4999 of the Internal Revenue Code (the “Code”) as determined in accordance with this Exhibit A, the Company shall pay the participant, at the time(s) specified below, an additional amount (the “Gross-Up Payment”)
such that the net amount the participant retains, after deduction of the Excise Tax on the Payments and any federal, state, and local income tax and the Excise Tax upon the Gross-Up Payment, and any interest, penalties, or additions to tax payable
by a participant with respect thereto, shall be equal to the total present value (using the applicable federal rate (as defined in section 1274(d) of the Code) in such calculation) of the Payments at the time such Payments are to be made.

 2. Calculations. For purposes of determining whether any of the Payments shall be subject to the Excise Tax and the amount of such
excise tax— 
 (a) the total amount of the Payments shall be treated as “parachute payments” within the meaning of section
280G(b)(2) of the Code, and all “excess parachute payments” within the meaning of section 280G(b)(1) of the Code shall be treated as subject to the excise tax, except to the extent that, in the written opinion of independent counsel or an
independent national accounting or other qualified professional firm selected by the Company (“Independent Adviser”), a Payment (in whole or in part) does not constitute a “parachute payment” within the meaning of section
280G(b)(2) of the Code, or such “excess parachute payments” (in whole or in part) are not subject to the Excise Tax; 
 (b) the
amount of the Payments that shall be subject to the Excise Tax shall be equal to the lesser of (1) the total amount of the Payments or (2) the amount of “excess parachute payments “ within the meaning of section 280G(b)(1) of the
Code (after applying clause (a), above); and 
 (c) the value of any non-cash benefits or any deferred payment or benefit shall be determined
by the Independent Adviser in accordance with the principles of section 280G(d)(3) and (4) of the Code. 
 3. Tax Rates. For
purposes of determining the amount of the Gross-Up Payment, a participant shall be deemed to pay federal income taxes at the highest marginal rates of federal income taxation applicable to individuals in the calendar year in which the Gross-Up
Payment is to be made and state and local income taxes, if any, at the highest marginal rates of taxation applicable to individuals as are in effect in the state and locality of his or her residence in the calendar year in which the Gross-Up Payment
is to be made, net of the maximum reduction in federal income taxes that can be obtained from deduction of such state and local taxes, taking into account any limitations applicable to individuals subject to federal income tax at the highest
marginal rates. 

 4. Time of Gross-Up Payments. The Gross-Up Payments provided for in this Exhibit A shall be made
upon the earlier of (a) the payment to a participant of any Payment or (b) the imposition upon a participant, or any payment by him or her, of any Excise Tax. 
 5. Adjustments to Gross-Up Payments. If it is established pursuant to a final determination of a court or an Internal Revenue Service proceeding or the written opinion of the Independent Adviser that the Excise
Tax is less than the amount previously taken into account hereunder, the participant shall repay the Company, within 30 days of her receipt of notice of such final determination or opinion, the portion of the Gross-Up Payment attributable to such
reduction (plus the portion of the Gross-Up Payment attributable to the Excise Tax and federal, state, and local income tax imposed on the Gross-Up Payment being repaid by the participant if such repayment results in a reduction in Excise Tax or a
federal, state, and local income tax deduction) plus any interest received by the participant on the amount of such repayment, provided that if any such amount has been paid by a participant as an Excise Tax or other tax, he or she shall cooperate
with the Company in seeking a refund of any tax overpayments, and shall not be required to make repayments to the Company until the overpaid taxes and interest thereon are refunded to him or her. 
 6. Additional Gross-Up Payment. If it is established pursuant to a final determination of a court or an Internal Revenue Service proceeding or the
written opinion of the Independent Adviser that the Excise Tax exceeds the amount taken into account hereunder (including by reason of any payment the existence or amount of which cannot be determined at the time of the Gross-Up Payment), the
Company shall make an additional Gross-Up Payment in respect of such excess within 30 days of the Company’s receipt of notice of such final determination or opinion. 
 7. Change in Law or Interpretation. In the event of any change in or further interpretation of section 280G or 4999 of the Code and the regulations promulgated thereunder, a participant shall be entitled, by
written notice to the Company, to request a written opinion of the Independent Adviser regarding the application of such change or further interpretation to any of the foregoing, and the Company shall use its best efforts to cause such opinion to be
rendered as promptly as practicable. 
 8. Fees and Expenses. All fees and expenses of the Independent Adviser incurred in connection
with this Exhibit A shall be borne by the Company. 
 9. Survival. The Company’s obligation to make a Gross-Up Payment with
respect to Payments made or accrued before the termination of the Plan shall survive the termination of the Plan unless (a) the affected participant’s employment is terminated for Cause, (b) the participant fails to execute a release
in accordance with the requirements of the Plan, or (c) the participant fails to comply with the restrictive covenants contained in Exhibit B of the Plan, in which event the Company’s obligation under this Exhibit A shall terminate
immediately. 
 10. Defined Terms. Unless otherwise clearly required by the context, for purposes of this Exhibit A, any capitalized
term that is defined in the Plan and is not defined in this Exhibit A shall have the meaning ascribed to such term in the Plan. 
  

 2 

 EXHIBIT B 
 CONFIDENTIALITY AND 
 POST-EMPLOYMENT RESTRICTIVE COVENANTS 
 This Exhibit B contains the confidentiality and post-employment restrictive covenants referenced in the Plan to which this Exhibit B is annexed. This
Exhibit B is a part of and will be interpreted in accordance with and otherwise subject to the provisions of the Plan. The payments and benefits provided to a participating employee (a “Participant”) under the Plan are expressly
conditioned upon continuing compliance with the covenants set forth herein and the provisions hereof. 
 1. Access to Secret and
Confidential Information. The Company has furnished and shall furnish to the Participant Secret and Confidential Information (including, without limitation, Secret and Confidential Information of the Company’s Affiliates) (collectively
“Secret and Confidential Information”), which the Participant would not otherwise have access to or knowledge of. Secret and Confidential Information includes, without limitation, the Company’s technical and business information,
whether patentable or not, which is of a confidential, trade secret or proprietary character, and which is either developed by the Participant alone, with others or by others; lists of customers; identity of customers; identity of prospective
customers; contract terms; bidding information and strategies; pricing methods or information; computer software; computer software methods and documentation; hardware; the Company’s or its Affiliates’ methods of operation; the procedures,
forms and techniques used in servicing accounts; and other information or documents that the Company requires to be maintained in confidence for the Company’s continued business success. 
 2. Non-Disclosure of Secret and Confidential Information. In consideration of being admitted to the Plan and as a condition of receiving and
retaining payments or benefits thereunder, the Participant shall not during the period of Participant’s employment with the Company or at any time thereafter, disclose to anyone, including, without limitation, any person, firm, corporation, or
other entity, or publish, or use for any purpose, any Secret and Confidential Information, except as properly required in the ordinary course of the Company’s business or as directed and authorized by the Company. 
 3. Duty to Return Company Documents and Property. Upon the termination of Participant’s employment with the Company, for any reason
whatsoever, Participant shall immediately return and deliver to the Company any and all papers, books, records, documents, memoranda and manuals, e-mail, electronic or magnetic recordings or data, including all copies thereof, belonging to the
Company or relating to its business, in Participant’s possession, whether prepared by Participant or others. If at any time after the termination of employment, Participant determines that he or she has any Secret and Confidential Information
in his or her possession or control, Participant shall immediately return to the Company all such Secret and Confidential Information in Participant’s possession or control, including all copies and portions thereof. 
 4. Disclosure. While he or she is employed with the Company, Participant shall promptly disclose to the Company all ideas, inventions, computer
programs, and 

 
discoveries, whether or not patentable or copyrightable, which Participant may conceive or make, alone or with others, during Participant’s employment,
whether or not during working hours, and which directly or indirectly: 
 (a) relate to matters within the scope, field, duties or
responsibility of Participant’s employment with the Company; or 
 (b) are based on the Participant’s knowledge of the actual or
anticipated business or interest of the Company; or 
 (c) are aided by the use of time, materials, facilities or information of the Company.

 Participant assigns to the Company, without further compensation, all rights, titles and interest in all such ideas, inventions, computer programs and
discoveries in all countries of the world. Participant recognizes that all ideas, inventions, computer programs and discoveries of the type described above, conceived or made by Participant alone or with others within one year after termination of
employment (voluntary or otherwise), are likely to have been conceived in significant part either while employed by the Company or as a direct result of knowledge Participant had of proprietary information. Accordingly, Participant agrees that such
ideas, inventions or discoveries shall be presumed to have been conceived during Participant’s employment with the Company, unless and until the contrary is clearly established by the Participant. 
 5. Inventions. Any and all writings, computer software, inventions, improvements, processes, procedures and/or techniques which Participant may
make, conceive, discover, or develop, either solely or jointly with any other person or persons, at any time during the term of his or her employment, whether at the request or upon the suggestion of the Company or otherwise, which relate to or are
useful in connection with any business now or hereafter carried on or contemplated by the Company, including developments or expansions of its present fields of operations, shall be the sole and exclusive property of the Company. Participant shall
take all actions necessary so that the Company can prepare and present applications for copyright or Letters Patent therefor, and can secure such copyright or Letters Patent wherever possible, as well as reissue renewals, and extensions thereof, and
can obtain the record title to such copyright or patents. Participant shall not be entitled to any additional or special compensation or reimbursement regarding any such writings, computer software, inventions, improvements, processes, procedures
and techniques. Participant acknowledges that the Company from time to time may have agreements with other persons or entities which impose obligations or restrictions on the Company regarding inventions made during the course of work thereunder or
regarding the confidential nature of such work. Participant shall be bound by all such obligations and restrictions and take all action necessary to discharge the obligations of the Company. 
 6. Non-Solicitation and Non-Competition Restrictions. To protect the Company’s Secret and Confidential Information, and in the event of
Participant’s termination of employment for any reason whatsoever, whether by Participant or the Company, the Participant will be subject to the following restrictive covenants as a further condition of his or her participation in the Plan and
entitlement to receive and retain any payments or benefits under the Plan. 
  

 2 

 (a) Non-Competition. — For one year following Participant’s separation from employment
with Company, the Participant shall not, without the prior written consent of the Company: 
 (1) personally engage in Competitive Activities
(as defined below); or 
 (2) work for, own, manage, operate, control, or participate in the ownership, management, operation, or control of,
or provide consulting or advisory services to, any person, partnership, firm, corporation, institution or other entity engaged in Competitive Activities, or any company or person affiliated with such person or entity engaged in Competitive
Activities; provided that the Participant’s purchase or holding, for investment purposes, of securities of a publicly traded company shall not constitute “ownership” or “participation in the ownership” for purposes of this
paragraph so long as such equity interest in any such company is less than a controlling interest; 
 provided that this paragraph (a) shall not
prohibit the Participant from being employed by, or providing services to, a consulting firm, provided that the Participant does not personally engage in Competitive Activities or provide consulting or advisory services to any individual,
partnership, firm, corporation, institution or other entity engaged in Competitive Activities, or any person or entity affiliated with such individual, partnership, firm, corporation, institution or other entity engaged in Competitive Activities.

 (b) Competitive Activities. — For purposes hereof, “Competitive Activities” means activities relating to products or
services of the same or similar type as the products or services (1) which are sold (or, pursuant to an existing business plan, will be sold) to paying customers of the Company or any Affiliate, and (2) for which the Participant has
responsibility to plan, develop, manage, market, oversee or perform, or had any such responsibility within the Participant’s most recent 24 months of employment with the Company or an Affiliate. Notwithstanding the previous sentence, an
activity shall not be treated as a Competitive Activity if the geographic marketing area of the relevant products or services does not overlap with the geographic marketing area for the applicable products and services of the Company and its
Affiliates. 
 (c) Interference With Business Relations — For one year following Participant’s separation from employment
with Company, the Participant shall not, without the prior written consent of the Company: 
 (1) recruit, induce or solicit any employee or
officer, directly or indirectly, of the Company or an Affiliate for employment or for retention as a consultant or service provider; 
  

 3 

 (2) hire or participate (with another person or entity) in the process of hiring (other than for the
Company or an Affiliate) any person who is then an employee or officer of the Company or an Affiliate, or provide names or other information about any employees of the Company or an Affiliate to any person or entity (other than Idearc or a
Subsidiary), directly or indirectly, under circumstances that could lead to the use of any such information for purposes of recruiting, soliciting or hiring; 
 (3) interfere, directly or indirectly, with the relationship of the Company or an Affiliate with any of its employees, agents, or representatives; 
 (4) solicit or induce, or in any manner attempt to solicit or induce, directly or indirectly, any client, customer, or prospect of the Company or an
Affiliate (1) to cease being, or not to become, a customer of the Company or an Affiliate, or (2) to divert any business of such customer or prospect from the Company or an Affiliate; or 
 (5) otherwise interfere with, disrupt, or attempt to interfere with or disrupt, the relationship, contractual or otherwise, between the Company or an
Affiliate and any of its customers, clients, prospects, suppliers, consultants, employees, agents, or representatives. 
 7.
Reformation. If a court concludes that any time period or the geographic area specified in paragraph 6 above are unenforceable, then the time period will be reduced by the number of months, or the geographic area will be reduced by the
elimination of the overbroad portion, or both, so that the restrictions may be enforced in the geographic area and for the time to the fullest extent permitted by law. 
 8 Tolling. If Participant violates any of the restrictions contained in paragraph 6, the restrictive period will be suspended and will not run in favor of Participant from the time of the commencement of any
violation until the time when the Participant cures the violation to the Company’s satisfaction. 
 9. Remedies. It is intended
that, in view of the nature of the Company’s business, the restrictions contained in this Exhibit B shall be considered reasonable and necessary to protect the Company’s legitimate business interests and that any violation of these
restrictions would result in irreparable injury to the Company. In the event of a breach or a threatened breach by Participant of any restrictive covenant contained herein, the Company shall be entitled to a temporary restraining order and
injunctive relief restraining Participant from the commission of any breach, and to recover the Company’s attorneys’ fees, costs and expenses related to the breach or threatened breach. Nothing contained herein shall be construed as
prohibiting the Company from pursuing any other remedies available to it for any breach or threatened breach, including, without limitation, the restoration and other remedies specified in the Plan and/or the recovery of money damages,
attorneys’ fees, and costs. These covenants and restrictions shall each be construed as independent of any other provisions in the Plan, and the 

  

 4 

 
existence of any claim or cause of action by Participant against the Company, whether predicated on the Plan or otherwise, shall not constitute a defense to
the enforcement by the Company of such covenants and restrictions. 
 10. Severability. Should a court determine that any paragraph or
sentence, or any portion of a paragraph or sentence of this Exhibit B is invalid, unenforceable, or void, this determination shall not have the effect of invalidating or validating the remainder of the paragraph, sentence or any other provision of
this Exhibit B. Further, it is intended that the court should construe the Plan and this Exhibit B by limiting and reducing it only to the extent necessary to be enforceable under then applicable law. 
 11. Future Employment. If, before the expiration of the period covered by Section 6(a) hereof, a Participant seeks or is offered employment
by any other company, firm, or person, the Participant shall provide a copy of this Exhibit B to the prospective employer before accepting employment with that prospective employer. 
  

 5Tax Allocation Agreement, dated as of April 3, 2007

 Exhibit 10.01 
  

			
		 	EXECUTION
		 	VERSION

 TAX ALLOCATION AGREEMENT 
 among 
 METAVANTE HOLDING COMPANY, 
 METAVANTE CORPORATION, 
 NEW M&I
CORPORATION 
 and 
 MARSHALL & ILSLEY CORPORATION 
 Dated as of April 3, 2007 

 TAX ALLOCATION AGREEMENT 
 TAX ALLOCATION AGREEMENT (this “Agreement”), dated as of April 3, 2007, among Metavante Holding Company, a Wisconsin corporation
and, as of the date hereof, a wholly-owned subsidiary of MI Corp. (“MVT Holding”), Metavante Corporation, a Wisconsin corporation and, as of the date hereof, a wholly-owned subsidiary of MI Corp. (“MVT Corp.”) (MVT
Holding and MVT Corp., collectively, the “MVT Parties”), Marshall & Ilsley Corporation, a Wisconsin corporation (“MI Corp.”), and New M&I Corporation, a Wisconsin corporation (“New MI
Corp.”) (MI Corp. and New MI Corp., collectively, the “MI Parties”). 
 RECITALS 
 WHEREAS, MI Corp. is the common parent of an affiliated group of corporations within the meaning of Section 1504(a) of the Internal Revenue Code of
1986, as amended (the “Code”), which currently files consolidated federal Income Tax Returns (the “Affiliated Group”); 
 WHEREAS, pursuant to the Separation Agreement dated as of the date hereof between the MVT Parties and the MI Parties (as may be amended from time to time in accordance with its terms, the “Separation
Agreement”) and the Investment Agreement (as defined below), MVT Holding will distribute all of the issued and outstanding shares of New MI Corp. common stock (“New MI Corp. Common Stock”) on a pro rata basis to holders of
record of MVT Holding Common Stock (as defined in the Investment Agreement) (as described more fully in the Separation Agreement, the “Distribution”); 
 WHEREAS, the MVT Parties, Montana Merger Sub Inc., a Wisconsin corporation and, as of the date hereof, a wholly-owned subsidiary of MVT Holding (“Merger Sub”), and the MI Parties have entered into an
Investment Agreement, dated as the date hereof (the “Investment Agreement”) with WPM, L.P., a Delaware limited partnership (“Investor”) pursuant to which, prior to the Distribution, MI Corp. will undertake the MI
Merger, the MI Conversion, the MVT Distribution, the MI LLC Contribution and the MI Cash Contribution, and Investor will make the Equity Investment (as defined in the Separation Agreement); 
 WHEREAS, in connection with the transactions contemplated by the Investment Agreement, one or more of the members of the MVT Group (as defined below)
will incur approximately $1.75 billion of indebtedness (the “Debt Financing”); 
 WHEREAS, the parties to this Agreement
intend that (i) the MI Merger and the MI Conversion will qualify as a reorganization under Section 368(a)(1)(F) of the Code, (ii) following the MI Merger and the MI Conversion, MVT Holding will become the common parent of the
Affiliated Group; (iii) the MI Contribution (as defined in the Investment Agreement) followed by the Distribution will qualify as a reorganization within the meaning of Section 368(a)(1)(D) of the Code; and (iv) the Distribution will
qualify as a distribution eligible for nonrecognition under Sections 355(a) and 361(c) of the Code; 
 WHEREAS, after the Distribution, no
member of the MI Group (as defined below) will be a member of the Affiliated Group for federal income tax purposes and MI Corp. will be disregarded as an entity separate from New MI Corp. for U.S. federal income tax purposes; 

 WHEREAS, after the Distribution the Affiliated Group will continue and MVT Holding will be treated as the
common parent of the Affiliated Group for federal income tax purposes; and 
 WHEREAS, the MVT Group and the MI Group desire on behalf of
themselves and their successors to set forth their rights and obligations with respect to Taxes due for periods before, on and after the Distribution Date. 
 NOW, THEREFORE, in consideration of the premises and of the respective agreements and covenants contained in this Agreement, the parties hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS

 SECTION 1.01. General. Capitalized terms used in this Agreement have the meanings set forth in this Agreement, or, when
not so defined, in the Separation Agreement or the Investment Agreement. As used in this Agreement, the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms
defined): 
 “Affiliate” has the meaning set forth in the Separation Agreement. 
 “Affiliated Group” has the meaning set forth in the first recital. 
 “Agreement” means this Tax Allocation Agreement as the same may be amended from time to time. 
 “Applicable Federal Rate” means the federal short-term rate under Section 1274(d) of the Code, compounded quarterly. 
 “Audit” means any audit, assessment of Taxes, other examination by any Governmental Entity (as defined in the Investment Agreement),
proceeding, or appeal of such a proceeding relating to Taxes, whether administrative or judicial, including proceedings relating to competent authority determinations. 
 “Code” has the meaning set forth in the first recital. 
 “Controlling
Party” means the party described as the Controlling Party in accordance with Section 3.01. 
 “Covered
Group” means, in the case of any Covered Group Taxes, the group of Persons that join in the filing of the consolidated, combined or unitary Tax Return upon which such Covered Group Taxes are reported. 
  

 2 

 “Covered Group Taxes” means any federal, state, local or foreign Taxes reportable on a
consolidated, combined or unitary Tax Return for a group that includes any member of the MI Group, on the one hand, and any member of the MVT Group, on the other hand. 
 “Covered Group Year” means, in the case of any Covered Group, any Taxable year of such Covered Group that ends prior to or includes the Distribution Date. 
 “Debt Financing” has the meaning set forth in the fourth recital. 
 “Distribution” has the meaning set forth in the second recital. 
 “Distribution Date” has the meaning set forth in the Separation Agreement. 
 “Filing Party” has the meaning set forth in Section 2.08. 
 “Final Determination” means with respect to any issue (a) a decision, judgment, decree or other order by any court of competent
jurisdiction, which decision, judgment, decree or other order has become final and not subject to further appeal, (b) a closing agreement (whether or not entered into under Section 7121 of the Code) or any other binding settlement
agreement (whether or not with the IRS) entered into in connection with or in contemplation of an administrative or judicial proceeding, or (c) the completion of the highest level of administrative proceedings if a judicial contest is not or is
no longer available. 
 “GAAP” has the meaning set forth in the Investment Agreement. 
 “Income Tax” means any franchise Tax and any federal, state, local or foreign Tax measured by or imposed on gross receipts or net income
or profits. For the avoidance of doubt, the term “Income Tax” shall not include any sales or use Tax. 
 “Income Tax
Return” means any Tax Return with respect to Income Taxes. 
 “Indemnifiable Losses” has the meaning set forth in
the Separation Agreement. 
 “Independent Firm” has the meaning set forth in Article VI. 
 “Information” has the meaning set forth in the Separation Agreement. 
 “Investment Agreement” has the meaning set forth in the third recital. 
 “Investor” has the meaning set forth in the third recital. 
 “Investor Factual Representation” means the representations of Investor set forth in Section 4.1 of the Investment Agreement
and any factual representation provided by Investor in writing in connection with the Tax Opinion described in Section 7.1(f)(ii) of the Investment Agreement. 
 “IRS” means the United States Internal Revenue Service. 
  

 3 

 “Liable Party” has the meaning set forth in Section 2.08. 
 “MI Corp.” has the meaning set forth in the preamble. 
 “MI Compensation Payments” has the meaning set forth in Section 2.06(a). 
 “MI Group” has the meaning set forth in the Separation Agreement. 
 “MI Parties” has the meaning
set forth in the preamble. 
 “MI Specified Refunds” means any refunds or credits relating to (i) the transactions
described in the complaint filed on March 2, 2007, in the United States District Court for the Eastern District of Wisconsin, (ii) the “Tempest” transactions currently in appeals, and (iii) the amended tax returns filed in
connection with securitizations involving auto loans. 
 “MI Subsidiary” has the meaning set forth in the Separation
Agreement. 
 “MI Taxes” means any Taxes (excluding Restructuring Taxes) that are treated as MI Taxes under
Section 2.05 of this Agreement. 
 “New MI Corp.” has the meaning set forth in the preamble. 
 “New MI Corp. Common Stock” has the meaning set forth in the second recital. 
 “MVT Corp.” has the meaning set forth in the preamble. 
 “MVT Compensation Payments” has the meaning set forth in Section 2.06(a). 
 “MVT Group” has the meaning set forth in the Separation Agreement. 
 “MVT Holding” has the
meaning set forth in the preamble. 
 “MVT Parties” has the meaning set forth in the preamble. 
 “MVT Restructuring Tax Audit” has the meaning set forth in Section 3.02(a). 
 “MVT Separate Group Basis” means, in the case of any Covered Group Taxes for a Covered Group Year, the amount of such Covered Group
Taxes for such Covered Group Year that would have been due if the underlying Covered Group consisted solely of members of the MVT Group and did not include any members of the MI Group and computed (i) by taking into account elections and
accounting methods actually used in computing such Covered Group Taxes for such Covered Group Year, (ii) with appropriate adjustments to take into account the application of Treasury Regulations Section 1.1502-13 or similar provisions of
state and local Tax law to any intercompany transactions between members of the MVT Group (on one hand) and members of the MI Group (on the other hand), (iii) consistent with past practice (including past practice of allocating state and local
unitary Taxes and expenses to an entity if that entity caused the filing of a combined, consolidated or unitary Tax Return) and (iv) with such other adjustments as are contemplated by this Agreement; provided, however, that Tax
liability for an entity with nexus in a combined return state shall be based on that entity’s relative apportionment percentage of the total apportionment percentage of the actual combined group. 
  

 4 

 “MVT Subsidiary” has the meaning set forth in the Separation Agreement. 
 “MVT Tainting Act” means: 
 (a) any action (or failure to take any reasonably available action) by any of the MVT Parties or any Affiliate of the MVT Parties after the Distribution Date other than an action contemplated by the Investment Agreement or any of the
Transaction Agreements; 
 (b) any inaccuracy of any Investor Factual Representation; 
 (c) any acquisition or other transaction involving the equity of any of the MVT Parties or any Affiliate of the MVT Parties (other than the distribution
of the New MI Corp. Common Stock in the Distribution or the Equity Investment); or 
 (d) any Prohibited Act performed by any of the MVT
Parties or any Affiliate of the MVT Parties after the Distribution Date. 
 “MVT Taxes” means any Taxes (excluding
Restructuring Taxes) that are treated as MVT Taxes under Section 2.05 of this Agreement. 
 “Past Practice” has
the meaning set forth in Section 2.01(e). 
 “Person” has the meaning set forth in the Investment Agreement.

 “Post-Distribution Period” means any Taxable year or other Taxable period beginning after the Distribution Date and, in
the case of any Taxable year or other Taxable period that begins on or before and ends after the Distribution Date, that part of the Taxable year or other Taxable period that begins at the beginning of the day after the Distribution Date.

 “Pre-Distribution Period” means any Taxable year or other Taxable period that ends on or before the close of the
Distribution Date and, in the case of any Taxable year or other Taxable period that begins on or before and ends after the Distribution Date, that part of the Taxable year or other Taxable period through the close of the Distribution Date.

 “Private Letter Ruling” has the meaning set forth in the Investment Agreement. 
 “Prohibited Acts” has the meaning specified in Section 4.02(a). 
 “Restricted Period” has the meaning specified in Section 4.02(a). 
 “Restructuring Taxes” means any Taxes (and other liabilities, including liability to stockholders and the costs of defending against the
imposition of such Taxes and other liabilities) of any member of the MVT Group or the MI Group arising from or attributable to one or more of the Transactions (as defined in the Investment Agreement), including but not limited to (a) any
failure of the Distribution to constitute a distribution eligible for nonrecognition under 

  

 5 

 
Sections 355(a) and 361(c), (b) any failure of the MI Contribution (as defined in the Investment Agreement) followed by the Distribution to qualify as a
reorganization within the meaning of Section 368(a)(1)(D) of the Code, or (c) any failure of any stock of New MI Corp. to be treated as “qualified property” within the meaning of Section 355(c)(2) or Section 361(c)(2)
of the Code because of the application of Section 355(d) or Section 355(e) of the Code to the Distribution; provided, however, that Restructuring Taxes shall not include any Taxes imposed on the MVT Dividend or any
distributions of cash from Subsidiaries to fund the MVT Dividend (which Taxes are governed by Section 2.04(d)). 
 “Separation Agreement” has the meaning set forth in the second recital. 
 “Shared Return” means a
Tax Return described in clause (a) of Section 2.01. 
 “Subsidiary” has the meaning set forth in the
Separation Agreement. 
 “Tax” (and, with correlative meaning, “Taxes” and “Taxable”) has the meaning
set forth in the Investment Agreement. 
 “Tax Carryover Attribute” has the meaning specified in Section 2.07.

 “Tax Item” means any item of income, gain, loss, deduction or credit, or other attribute that may have the effect of
increasing or decreasing any Tax. 
 “Tax Opinion” means the tax opinion described in Section 7.1(f)(ii) of the
Investment Agreement. 
 “Tax Return” has the meaning set forth in the Investment Agreement. 
 “Transaction Agreements” has the meaning set forth in the Investment Agreement. 
 “Transaction Taxes” has the meaning set forth in Section 2.04(b). 
 ARTICLE II 
 TAX RETURNS, TAX PAYMENTS AND TAX SHARING OBLIGATIONS

 SECTION 2.01. Obligations to File Tax Returns. 
 (a) From and after the Distribution Time, New MI Corp. shall prepare and timely file or cause to be timely filed all original Income Tax Returns with
respect to any member of the MVT Group for any Taxable year ending on or before December 31, 2007 (including any original Income Tax Return for any Covered Group Taxes for any Taxable year ending on or before December 31, 2007), whether or
not such Income Tax Return includes any member of the MI Group. To the extent a member of the MI Group is legally unable to sign any such Income Tax Return, MVT Holding shall sign or cause to be signed such Income Tax Return. The MVT Parties shall
reimburse New MI Corp. for any Costs (as defined in Section 3.01) incurred by MI Corp. in preparing any Income Tax Return to the extent such Cost is attributable to the portion of such Income Tax Return relating to any member of the MVT
Group. 
  

 6 

 (b) From and after the Distribution Time, New MI Corp. shall in addition to the Income Tax Returns
described in clause (a), prepare and timely file or cause to be timely filed any other Tax Return with respect to any member of the MI Group. 
 (c) From and after the Distribution Time, MVT Holding shall prepare and timely file or cause to be timely filed any Tax Returns (other than an Income Tax Return described in clause (a)) with respect to any member of the MVT Group
(including, but not limited to, the federal consolidated Income Tax Return and state Income Tax Returns for the taxable year beginning January 1, 2008). 
 (d) For the avoidance of doubt, the provisions of this Section 2.01 apply only to the preparation and filing of Tax Returns. Each party shall be responsible for its own financial reporting, including but
not limited to calculating and booking provisions for Income Taxes for GAAP purposes. 
 (e) All Income Tax Returns relating to any member of
the MVT Group for Taxable years or periods ending on or before December 31, 2007 shall (to the extent permitted by Applicable Laws) be prepared on a basis consistent with the elections, methods of accounting, positions, conventions and
principles of taxation and the manner in which any Tax item or other information is reported as reflected in comparable Income Tax Returns filed before the date of this Agreement (the manner in which so reported, “Past Practice”),
provided that a different method can be used (x) if it would not increase Taxes for which the MVT Parties would be responsible under this Agreement or (y) with the prior written consent of MVT Holding (such consent not to be
unreasonably withheld); provided further that if there is no Past Practice with respect to a material Tax item or other information to be reported on an Income Tax Return relating to any member of the MVT Group for Taxable years or periods
ending on or before December 31, 2007, then New MI Corp. and MVT Holding shall mutually agree on the manner in which such Tax item or other information is reported. The preceding sentence shall not apply (i) to the extent otherwise
contemplated or required by the Private Letter Ruling, or (ii) if there has been a change in Applicable Laws. Consent shall not be considered unreasonably withheld within the meaning of the second preceding sentence if such different method
would increase Taxes for which the MVT Parties would be responsible under this Agreement and for which New MI Corp. does not compensate the MVT Parties. New MI Corp. shall (A) make available to MVT Holding any Shared Return it is responsible
for filing at least 10 calendar days prior to filing, provided that MVT Holding shall supply New MI Corp. with all information regarding any member of the MVT Group reasonably necessary for preparing such Shared Return at least 100 calendar
days prior to the due date for filing such Shared Return, and (B) make reasonable revisions to such Shared Returns that are requested by MVT Holding. 
 SECTION 2.02. Obligation to Remit Taxes. Following the Distribution Date, (a) New MI Corp. shall timely remit or cause to be remitted any Taxes due in respect of any Tax Return it or any member of
the MI Group is required to file under applicable law (without regard to this Agreement), and (b) MVT Holding shall timely remit or cause to be remitted any Taxes due in respect of any Tax Return it or any member of the MVT Group is required to
file under applicable law (without regard to this Agreement). To the extent a remittance by New MI Corp. includes any MVT Taxes, MVT Holding shall advance funds to New MI Corp. at least one (1) day prior to the date New MI Corp. is required to
make such remittance, and to the extent a 

  

 7 

 
remittance by MVT Holding includes any MI Taxes, New MI Corp. shall advance funds to MVT Holding at least one (1) day prior to the date MVT Holding is
required to make such remittance. For the avoidance of doubt, this Section 2.02 governs only the party responsible for making the initial remittance to a Taxing Authority and shall not govern the determination of whether the Taxes
remitted are an MI Tax or an MVT Tax. 
 SECTION 2.03. Tax Indemnity; Prior Agreements; Refunds. 
 (a) From and after the Distribution Time, the MI Parties shall, in a manner consistent with the principles of Section 4.03 of the Separation
Agreement, reimburse, indemnify, defend, and hold harmless the MVT Indemnified Parties from and against, any and all Indemnifiable Losses incurred or suffered by one or more of the MVT Indemnified Parties in connection with, relating to, arising out
of, or due to, directly or indirectly, (i) any MI Taxes (including, for the avoidance of doubt, any MI Taxes arising from a redetermination thereof from an audit or examination); and (ii) any amount for which New MI Corp. is liable under
Section 2.04. 
 (b) From and after the Distribution Time, the MVT Parties shall, in a manner consistent with the principles of
Section 4.02 of the Separation Agreement, reimburse, indemnify, defend, and hold harmless the MI Indemnified Parties from and against, any and all Indemnifiable Losses incurred or suffered by one or more of the MI Indemnified Parties in
connection with, relating to, arising out of, or due to, directly or indirectly, (i) any MVT Taxes (including, for the avoidance of doubt, any MVT Taxes arising from a redetermination thereof from an audit or examination); and (ii) any
amount for which MVT Holding is liable under Section 2.04. 
 (c) Any and all prior Tax sharing agreements or practices between
any member of the MVT Group, on the one hand, and any member of the MI Group, on the other hand, shall automatically be terminated as of the Distribution Date (other than any such agreements set forth in the Transaction Agreements). Upon termination
of the existing tax allocation agreement between MI Corp. and MVT Corp., MVT Corp. shall pay to MI Corp. $730,000 in full satisfaction of any and all amounts due thereunder. 
 (d) From and after the Distribution Time, the MVT Parties shall be entitled to any refund of or credit for MVT Taxes, provided that the MI Parties
shall be entitled to receive and retain any refund of Taxes to the extent such refund is attributable to a Tax Carryover Attribute of any member of the MI Group. From and after the Distribution Time, the MI Parties shall be entitled to any refund of
or credit for Taxes to which the MVT Parties are not entitled pursuant to the preceding sentence. 
 (e) For the avoidance of doubt,
(i) any MI Specified Refunds are solely for the benefit of the MI Parties, (ii) any payroll Tax refunds arising out of the Supreme Court’s decision in CSX Corp. v. United States shall be for the benefit of the MI Parties if a
member of the MI Group incurred the payroll expense and for the benefit of the MVT Parties if a member of the MVT Group incurred the payroll expense, and (iii) any sales or use Tax Refunds shall be for the benefit of the MI Parties if a member
of the MI Group incurred the original sales or use Tax and for the benefit of the MVT Parties if a member of the MVT Group incurred the original sales or use Tax. 
  

 8 

 SECTION 2.04. Restructuring Taxes; Other Taxes Relating to the Distribution. 
 (a) Except to the extent otherwise provided in Section 2.04(b), (i) the MVT Parties shall be liable for any Restructuring Tax to the
extent such Restructuring Tax would not have been imposed but for an MVT Tainting Act and (ii) the MI Parties shall be liable for any other Restructuring Taxes. 
 (b) The MVT Parties shall be liable for 50% and the MI Parties shall be liable for 50% of any sales, transfer, value added or other similar Taxes or fees (including all real estate, transfer Taxes and real estate
recording fees but excluding patent, copyright, and trademark recording fees and similar items relating to patents, copyrights and trademarks (which are governed by Section 6.6 of the Investment Agreement)) payable in connection with the
transactions contemplated by the Separation Agreement and the Investment Agreement (the “Transaction Taxes”). The parties agree to timely sign and deliver such certificates or forms as are requested by the other party and may be
necessary or appropriate to enable such party to file promptly and timely the Tax Returns for such Transaction Taxes with the appropriate Taxing authorities and remit payment of the Transaction Taxes. 
 (c) Notwithstanding any other provision of this Agreement, the MI Parties shall be liable for all Taxes arising from or attributable to (i) any
excess loss accounts or deferred intercompany transactions taken into account under Section 1502 of the Code or Treasury Regulations issued thereunder and any similar items (including but not limited to “deferred intercompany stock
accounts” for California tax purposes) taken into account under state, local or foreign Tax laws as a result of the transactions contemplated by the Separation Agreement and the Investment Agreement (but not, for the avoidance of doubt, any
excess loss accounts created as a result of such transactions that are not taken into account as a result of such transactions), (ii) Sections 301(c)(3), 311(b) or 357(c) of the Code and any similar provisions of state, local and foreign Tax
law as a result of the transactions contemplated by the Separation Agreement or the Investment Agreement, and (iii) recapture of any “dual consolidated losses” attributable to any member of the MI Group within the meaning of
Section 1503 of the Code. 
 (d) Notwithstanding any other provision of this Agreement, the MI Parties shall be liable for all Taxes
imposed on the MVT Dividend or any distributions of cash from Subsidiaries to fund the MVT Dividend; provided, however, that the MVT Parties shall be liable for any such Taxes to the extent such Taxes would not have been imposed but
for any structural changes made with respect to any member of the MVT Group between the Distribution Date and December 31, 2007 (including any taxes imposed as a result of a failure to comply with Wisconsin Statutes Section 71.26(3)(j)).

 SECTION 2.05. MVT Taxes; MI Taxes. 
 (a) The portion of any Covered Group Taxes (including any state combined or unitary Taxes) for any Covered Group Year constituting MVT Taxes shall be computed on an MVT Separate Group Basis. The remaining portion of
any Covered Group Taxes for any Covered Group Year shall constitute MI Taxes. 
  

 9 

 (b) Any Tax (including escheat liability) other than Covered Group Taxes (which Taxes are addressed in
Section 2.05(a) above) shall constitute (i) an MI Tax to the extent a member of the MI Group has the primary liability to a Governmental Entity for such Tax and (ii) an MVT Tax to the extent a member of the MVT Group has the
primary liability to a Governmental Entity for such Tax, provided that any Tax of MI Corp. attributable to a Pre-Distribution Period for which MVT Holding is liable after the Distribution Date to such Governmental Entity as a
“successor” to MI Corp. for Tax purposes for any Covered Group Year shall constitute an MI Tax. 
 SECTION 2.06.
Calculation of Taxes. 
 (a) Notwithstanding any other provision of this Agreement, to the extent permitted by law, the following
amounts (the “MVT Compensation Payments”) shall be treated as deductible by MVT Holding or its Subsidiaries for all Income Tax purposes (and not by any member of the MI Group): (A) any deduction arising by virtue of the
exercise after the Distribution Time of any compensatory option to acquire MVT Holding Common Stock, (B) any deduction arising by virtue of the vesting after the Distribution Time of any restricted shares of MVT Holding Common Stock or New MI
Corp. Common Stock held by an employee of a member of the MVT Group and (C) any deductible investment banking fees or other legal fees incurred and paid by any member of the MVT Group in connection with the Transactions. To the extent permitted
by law, the following amounts (the “MI Compensation Payments”) shall be treated as deductible by MI Corp. or its Subsidiaries for all Income Tax purposes (and not by any member of the MVT Group): (A) any deduction arising by
virtue of the exercise of any compensatory option to acquire MI Corp. Common Stock or New MI Corp. Common Stock, (B) any deduction arising by virtue of the vesting prior to the Distribution Time of any restricted shares of MI Corp. Common
Stock, (C) any deduction arising by virtue of the vesting after the Distribution Time of any restricted shares of MVT Holding Common Stock or New MI Corp. Common Stock held by an employee of a member of the MI Group and (D) any deductible
investment banking fees or other legal fees incurred and paid by any member of the MI Group in connection with the Transactions. In the event that, notwithstanding the foregoing, it is determined that any MVT Compensation Payment is deductible by MI
Corp. or any of its Subsidiaries or any MI Compensation Payment is deductible by MVT Holding or any of its Subsidiaries, appropriate reconciliation payments shall be made between the parties. 
 (b) To the extent required by Applicable Laws, the Taxable year of each member of the MI Group shall close at the close of the Distribution Date and the
Taxable income of such year for Income Tax purposes shall be computed taking into account the principles of Treasury Regulation Section 1.1502-76(b) or of a corresponding provision under the laws of an applicable state, local, municipal or
foreign jurisdiction, except that no “ratable allocation election” shall be made. 
 SECTION 2.07. Carryback
Provisions. Unless the parties otherwise agree in writing, the MI Parties and the MVT Parties shall elect and shall cause each of the MI Subsidiaries or MVT Subsidiaries to elect, where permitted by Applicable Laws, to carry forward any loss,
credit or similar Tax attribute (“Tax Carryover Attribute”) arising in a Post-Distribution Period, with respect to a Shared Return, that could, in the absence of such election, be carried back to a Pre-Distribution Period. Any
refund or credit of Taxes resulting from the required carryback of 

  

 10 

 
any Tax Carryover Attribute attributable to a member of the MI Group arising in a Post-Distribution Period shall be for the account and benefit of New MI
Corp.; provided, however, that MVT Holding shall only be required to pay such amount to New MI Corp. at the time such amount is actually realized in cash, credit, refund or offset by the MVT Group after taking into account (i) all
other Tax attributes of the Affiliated Group and (ii) any carryback of any Tax Carryover Attribute attributable to any member of the MVT Group. Any refund, credit or offset of Taxes resulting from the carryback of any Tax Carryover Attribute
attributable to a member of MVT Group arising in a Post-Distribution Period shall be for the account and benefit of MVT Holding. If a member of the MI Group recognizes a Tax Carryover Attribute that, under Applicable Laws, must be carried back to a
Pre-Distribution Period during which MI Corp. or any MI Subsidiary joined in filing a Tax Return on a consolidated, combined, or unitary basis with any member of the MVT Group, MVT Holding shall, at the expense of New MI Corp., file appropriate
refund claims within a reasonable period after being requested by New MI Corp. to do so, unless such filing shall affect the liability or any attributes of the MVT Parties or any of their Affiliates under this Agreement (including the ability of any
member of the MVT Group to carry back a Tax attribute), in which case such filing shall be subject to MVT Holding’s prior written consent (such consent not to be unreasonably withheld). Consent shall not be considered unreasonably withheld
within the meaning of the preceding sentence if such filing would increase Taxes for which the MVT Parties would be responsible under this Agreement and for which New MI Corp. does not compensate the MVT Parties. If a refund claim for which the MI
Parties have received payment from the MVT Parties is subsequently disallowed by the relevant Governmental Entity, the MI Parties shall promptly return such payment to the MVT Parties together with any interest, penalties and additions to Tax
resulting from such disallowance. 
 SECTION 2.08. General Tax Payments. With respect to any Taxes for which one party (the
“Liable Party”) is liable under Article II and that are to be remitted in connection with Tax Returns to be filed by the other party (the “Filing Party”) after the Distribution Date, the Liable Party shall
make any payment of estimated Taxes no later than the fifth day after receipt of written request (but not before the fifth date preceding the due date for such payment) from the Filing Party setting forth the Filing Party’s good faith estimate
of the Liable Party’s portion of the estimated Taxes to be remitted. Within 60 days after the date that the Tax Return for the Taxable period is due (including extensions), the Filing Party shall provide a written request to the Liable Party
describing in reasonable detail the amount of any true-up payment owed to the Filing Party and to be made by the Liable Party or any true-up payment owed by the Filing Party to the Liable Party as a result of an overpayment by the Liable Party. A
true-up payment shall be made no later than fifteen (15) days after receipt of the written request for the true-up payment.  
 SECTION 2.09. Other Payments. Other payments due to a party under Article II shall be due (a) in the case of the receipt or crediting of a refund, five (5) days after such receipt or crediting,
provided, however, that any MI Specified Refund received by any member of the MVT Group shall be remitted to the MI Parties the next business day following receipt, and (b) in the case of a Final Determination, or the completion
of an audit, assessment or examination or similar event, two (2) days prior to the date payment is to be made to the Governmental Entity. In the case of a delay in payment, the party required to have made payment shall pay interest to the other
party at the Applicable Federal Rate. 
  

 11 

 SECTION 2.10. Notice. MVT Holding and New MI Corp. shall give each other prompt written
notice of any payment that may be due under this Agreement, provided that any failure to notify shall not cause any party to forfeit substantive rights, except to the extent the other party is materially prejudiced thereby. Any payment that
may be due under this Agreement is to be made by wire transfer of immediately available funds to the account designated by MVT Holding or New MI Corp. in such notice or by any other method as shall be agreed upon by MVT Holding and New MI Corp.

 SECTION 2.11. Amended Tax Returns. From and after the Distribution Time, the MVT Parties shall not, and shall not permit any
of their Affiliates to, file any amended Income Tax Return for any Pre-Distribution Period that includes MI Corp. or any MI Subsidiary without the prior written consent of New MI Corp. (such consent not to be unreasonably withheld) unless such
amended Income Tax Return does not affect the liability or any attributes of the MI Parties or any of their Affiliates under this Agreement or the Investment Agreement (including the ability of New MI Corp. to carry back a Tax Carryover Attribute in
accordance with Section 2.07). 
 ARTICLE III 
 TAX AUDITS 
 The following provisions shall apply from and after the Distribution Time. 

SECTION 3.01. In General. Except as otherwise provided in this Agreement, (i) New MI Corp. shall have the right to control
(A) any Audit relating to Covered Group Taxes, (B) any Audit of a member of the MI Group relating to non-Covered Group Taxes and (C) any Audit relating to Restructuring Taxes and (ii) MVT Holding shall have the right to control
any Audit of a member of the MVT Group relating to non-Covered Group Taxes (the party with the right to control such Audit, hereafter, the “Controlling Party”). Subject to Section 3.02(a), the Controlling Party’s
rights shall extend to any matter pertaining to the management and control of an Audit, including execution of waivers, choice of forum, scheduling of conferences and the resolution of any Tax Item (including the decision to contest, settle or
otherwise agree to any deficiency, claim or adjustment). Any costs incurred in handling, settling, or contesting an Audit shall be borne by the Controlling Party except that, in the case of Covered Group Taxes, MVT Holding shall reimburse New MI
Corp. within five days of receiving an invoice for Costs (as defined in this Section 3.01) incurred by New MI Corp. for that portion of the Costs which were expended in connection with issues which arise in connection with Tax Items
attributable to any member of the MVT Group. “Costs” means (i) an hourly charge for time expended by New MI Corp. personnel (such hourly charge not to include a profit component), (ii) a pass through of all billings of any third
parties such as lawyers and accountants, and (iii) out-of-pocket costs incurred by New MI Corp., including, for example, photocopying (even if performed on New MI Corp. equipment, but with no profit component). 
 SECTION 3.02. Covered Group Audits; Restructuring Tax Audits. 
 (a) With respect to any Audit of Covered Group Taxes which involves a Tax Item for which MVT Holding is liable pursuant to this Agreement or any Audit relating to Restructuring Taxes for which MVT Holding may be
liable pursuant to Section 2.04(a) of this Agreement (a 

  

 12 

 
“MVT Restructuring Tax Audit”), New MI Corp. shall (i) keep MVT Holding informed in a timely manner of all actions taken or proposed to
be taken by New MI Corp. with respect to such Tax Item or such MVT Restructuring Tax Audit, (ii) afford MVT Holding the right to attend material conference calls and meetings and to have reasonable comments incorporated in any written
submission or response submitted to the relevant Tax authority with respect to such Tax Item or MVT Restructuring Tax Audit; (iii) consult with MVT Holding as to strategy and settlement decisions, including any correspondence or filings
submitted in connection therewith; (iv) use its best efforts to arrive at a settlement of such Audit that reflects the ultimate merits of the issues without taking into account the fact that MVT Holding is liable for the Tax relating to such
Tax Item under this Agreement; and (v) not settle, compromise, abandon or finally dispose of any such Audit or MVT Restructuring Tax Audit without obtaining the prior written consent, which consent shall not be unreasonably withheld, of MVT
Holding if such settlement, compromise, abandonment or final disposition could have an adverse impact on any member of the MVT Group. For the avoidance of doubt, the MI Parties shall be solely responsible for any sales or use tax audits relating to
a member of the MI Group and the MVT Parties shall be solely responsible for any sales or use tax audits relating to a member of the MVT Group. 
 (b) Notwithstanding anything to the contrary herein, New MI Corp. shall have sole and exclusive control of any Audit relating to the MI Specified Refunds. 
 SECTION 3.03. Notice. Within ten (10) days after a party receives a written notice of any audit or proposed adjustment to a Tax Item that would reasonably be expected to give rise to an
indemnification obligation or other liability (including a liability for Tax) under this Agreement, such party shall notify the other party of such proposed adjustment, and thereafter shall promptly forward to the other party copies of notices and
material communications with any Taxing Authority relating to such proposed adjustment; provided, however, that the failure to provide such notice shall not release the indemnifying party from any of its obligations under this
Agreement except to the extent that such indemnifying party is materially prejudiced by such failure. 
 ARTICLE IV 
 COOPERATION 
 The following provisions
shall apply from and after the Distribution Time. 
 SECTION 4.01. Inconsistent Actions. Each party hereto agrees to, and to
cause each of its Affiliates to, (a) report the MI Merger and the MI Conversion as a reorganization within the meaning of Section 368(a)(1)(F) of the Code, the MI Contribution (as defined in the Investment Agreement) followed by the
Distribution as a reorganization within the meaning of Section 368(a)(1)(D) of the Code, and the Distribution as a distribution eligible for nonrecognition under Sections 355(a) and 361(c) of the Code on all Tax Returns and other filings, and
(b) comply with and take no action inconsistent with the representations and covenants provided to the IRS in connection with obtaining the Private Letter Ruling and the representations made in connection with the Tax Opinion, and (c) not
fail to be engaged in the conduct of the active trade or businesses relied upon for purposes of satisfying the requirements of Section 355(b) of the Code for purposes of the Private Letter Ruling. For all Post-Distribution Periods, each party
to this Agreement agrees to, and to cause each of its Affiliates to, in the absence of a controlling change 

  

 13 

 
in Applicable Laws or circumstances, report on all Tax Returns, the Tax consequences of the transactions undertaken pursuant to the Transaction Agreements
and the Investment Agreement in accordance with the positions taken with respect to such transactions to the extent reported on Tax Returns filed with respect to all Covered Group Years in respect of such transactions. 
 SECTION 4.02. Prohibited Acts. 
 (a) For 24 months following the Distribution Date (the “Restricted Period”), each of the MVT Parties and their Affiliates, on the one hand, and each of the MI Parties and their Affiliates, on the other hand, agree that they
will not (i) redeem or otherwise repurchase any capital stock of MVT Holding or New MI Corp. other than, in the case of New MI Corp. only, pursuant to open market stock repurchase programs meeting the requirements of Section 4.05(1)(b) of
Rev. Proc. 96-30, 1996-1 C.B. 696, or (ii) enter into any agreements with respect to transactions or events (including, but not limited to, capital contributions or acquisitions, entering into any partnership or joint venture arrangements,
stock issuances, stock acquisitions, option grants, or a series of such transactions or events (but excluding the Distribution)), in the case of each of clauses (i) and (ii) above that, if considered part of a plan that includes the
Distribution would result in one or more Persons acquiring, directly or indirectly, stock of MVT Holding or New MI Corp. representing a “50-percent or greater interest” therein within the meaning of Section 355(d)(4) of the Code (the
acts described in clauses (i) and (ii) above and any action inconsistent with the requirements of Section 4.01 hereof, collectively, the “Prohibited Acts”). Notwithstanding the foregoing, the following shall
not be considered a Prohibited Act: (w) the issuance of any compensatory options by MVT Holding, (x) the issuance of any MVT Holding stock pursuant to any MVT Holding compensatory option, and (y) the repurchase of any MVT Holding
restricted stock, in each case described in clauses (w), (x) and (y), if such action satisfies the conditions of Treasury Regulation 1.355-7(d)(8)(i) and (z) an action contemplated by the Investment Agreement or any of the Transaction
Agreements. For the avoidance of doubt, any issuance of additional equity or rights to acquire new equity by MVT Holding to Investor or to new investors or a secondary acquisition of MVT Holding stock by Investor during the Restricted Period shall
be considered a Prohibited Act. 
 (b) Notwithstanding the foregoing, a party may take any of the Prohibited Acts, subject to
Section 2.04, if, (i) in the case of any Prohibited Act proposed to be taken by the MI Parties and their Affiliates, (A) New MI Corp. first obtains (at its expense) an opinion in form and substance reasonably acceptable to MVT
Holding of Sidley Austin LLP or another nationally recognized law firm reasonably acceptable to MVT Holding, which opinion may be based on usual and customary factual representations, or (B) at New MI Corp.’s request, MVT Holding (at New
MI Corp.’s expense) obtains a supplemental ruling from the IRS, or, (ii) in the case of any Prohibited Act proposed to be taken by the MVT Parties and their Affiliates, (A) MVT Holding first obtains (at its expense) an opinion in form
and substance reasonably acceptable to New MI Corp. of Wachtell, Lipton, Rosen & Katz or another nationally recognized law firm reasonably acceptable to New MI Corp., which opinion may be based on usual and customary factual representations
or (B) MVT Holding (at its expense) obtains a supplemental ruling from the IRS, in each case that such Prohibited Act(s), and any transaction related thereto, will not affect any of the conclusions set forth in the Private Letter Ruling or Tax
Opinion, including (i) the qualification of the Distribution under Section 355 and Section 

  

 14 

 
368(a)(1)(D) of the Code, and (ii) the nonrecognition of gain to MVT Holding in the Distribution; provided, however, that a party may take
any of the Prohibited Acts described in Section 4.02(a)(i) and (ii), without obtaining such an opinion or a supplemental ruling if, (x) such party provided reasonable notice to the other party prior to taking such Prohibited
Act and (y) after giving effect to such Prohibited Act and considering such Prohibited Act part of a plan that includes the Distribution, one or more Persons would not have acquired directly or indirectly, stock of MVT Holding or New MI Corp.
representing a more than 40% interest (by vote or value) therein. A party may also take any of the Prohibited Acts, subject to Section 2.04, with the written consent of the other party in the other party’s sole and absolute
discretion. During the Restricted Period, the parties shall provide, and shall cause their respective Affiliates to provide, all information reasonably requested by the other party relating to any transaction involving an acquisition (directly or
indirectly) of that party’s stock within the meaning of Section 355(e) of the Code. The parties hereto agree that the payment of monetary compensation would not be an adequate remedy to a breach of the obligations described in the
Prohibited Acts, and each party consents to the issuance and entry of an injunction to prevent a breach of the obligations contained in the Prohibited Acts, subject to the waiver and consent described in the preceding sentence. New MI Corp.
represents that, to its knowledge, from the date of this Agreement until the time of the Distribution, and except as contemplated by the Investment Agreement or the Transaction Agreements, there will be no agreement, understanding, arrangement or
substantial negotiations by MVT Holding (or any of its Subsidiaries) concerning any acquisition of MVT Holding stock for purposes of applying Treasury Regulation Section 1.355-7(d)(3) and an opinion and/or ruling obtained in accordance with
Section 4.02(b)(ii) may assume the accuracy of such representation (it being understood that New MI Corp makes no representation with respect to any events occurring before the date of this Agreement). 
 SECTION 4.03. Cooperation with Respect to Tax Return Filings, Examinations and Tax Related Controversies. In addition to any obligations
imposed pursuant to the Separation Agreement, each party shall fully cooperate with the other party and its representatives, in a prompt and timely manner, in connection with (i) the preparation and filing of and (ii) any inquiry, audit,
redetermination, examination, investigation, dispute, or litigation involving, any Tax Return required to be filed by such other party pursuant to this Agreement. Such cooperation shall include, but not be limited to, (x) the execution and
delivery to such other party of any power of attorney required to allow such other party and its counsel to participate in or control any inquiry, audit or other administrative proceeding and to assume the defense or prosecution, as the case may be,
of any suit, action or proceeding pursuant to the terms of and subject to the conditions set forth in Article III, including execution and delivery to New MI Corp. of the Power of Attorney in the form to be attached prior to the Distribution
Date as Exhibit A hereto, and (y) making available, during normal business hours, and within 15 days of any written request therefor, all books, records and information, and the assistance of all officers and employees, necessary or useful in
connection with the preparation of any Tax return or any Tax inquiry, audit, redetermination, examination, investigation, dispute, litigation or any other matter. Any recoveries by the MVT Parties, the MI Parties, or any of their respective
Affiliates against third parties (including awards for damages) relating to Restructuring Taxes shall be shared and allocated by the parties consistently with the allocation of the underlying Restructuring Taxes. 
  

 15 

 ARTICLE V 
 RETENTION OF RECORDS; ACCESS 
 The MI Group and the MVT Group shall retain all Information in
accordance with Section 6.04 of the Separation Agreement. The MI Group shall be responsible for storage and maintenance of all Information relating to Tax Returns for which it is responsible for filing under Section 2.01(a);
provided that New MI Corp. shall provide MVT Holding with (i) originals or copies of all non-Shared Tax Returns and associated workpapers (hardcopy and electronic) for the most recent four year period prior to the Distribution Date and
(ii) copies of all 2006 and 2007 Shared Returns. 
 ARTICLE VI 
 DISPUTES 
 From and after the Distribution Time, if New MI Corp. and MVT Holding
cannot agree on the calculation of any liability under this Agreement, or the interpretation or application of any provision under this Agreement, either party may provide to the other party written notice of intent to invoke the dispute resolution
procedures of this Article VI. Within 10 days following the receipt of such written notice, New MI Corp. and MVT Holding shall jointly retain a nationally recognized law firm or “big four” accounting firm, which firm is independent
of both parties (the “Independent Firm”), to resolve the dispute. If the parties cannot jointly agree on an Independent Firm to resolve the dispute within the 10 day period, then each party shall select a nationally recognized law
firm or “big four” accounting firm, which firm is independent of both parties, and both law or accounting firms shall jointly select an Independent Firm which shall make the determination under this Article VI. The Independent Firm shall
act as an arbitrator to resolve all points of disagreement and its decision shall be final and binding upon all parties involved, provided, however, that if the disagreement relates to an amount of Tax at issue (or potentially at
issue) equal to or greater than $1,000,000, such decision shall be non-binding. The Independent Firm shall determine the appropriate outcome based upon this Agreement with respect to each disputed item. The Independent Firm shall have 90 days from
the date that it is selected in which to make such determinations, unless New MI Corp. and MVT Holding mutually agree on an extension of such period or the Independent Firm, in its discretion, determines that an extension of such period is warranted
by exceptional circumstances. New MI Corp. and MVT Holding shall provide the Independent Firm with such information or documentation as the Independent Firm deems in its discretion to be necessary for it to make the determinations requested of it.
Any determination by the Independent Firm shall be in writing. Following the decision of the Independent Firm, New MI Corp. and MVT Holding shall each take or cause to be taken any action necessary to implement any binding decision of the
Independent Firm. The fees and expenses relating to the Independent Firm shall be borne by the party that such Independent Firm determines has lost the dispute. 
 ARTICLE VII 
 SURVIVAL OF LIABILITIES 
 Notwithstanding any other provision in this Agreement, any liabilities under this Agreement shall survive for 60 days following any applicable statute of
limitation; provided, however, that each party may continue to demand the full amount of payment to be made with respect to any such liabilities under this Agreement and such liabilities shall continue to survive until paid in full in
accordance with this Agreement. 
  

 16 

 ARTICLE VIII 
 MISCELLANEOUS 
 SECTION 8.01. Entire Agreement; Construction. This Agreement, the
Separation Agreement, the Investment Agreement, the Continuing Business Agreements and the Ancillary Agreements, including any annexes, schedules and exhibits hereto or thereto, and other agreements and documents referred to herein and therein, will
together constitute the entire agreement between the parties with respect to the subject matter hereof and thereof and will supersede all prior negotiations, agreements and understandings of the parties of any nature, whether oral or written, with
respect to such subject matter. Notwithstanding any other provisions in this Agreement to the contrary, in the event and to the extent that there is a conflict relating to Taxes between the provisions of this Agreement and the provisions of the
Separation Agreement, the Investment Agreement, the Continuing Business Agreements or any other Ancillary Agreements, the provisions of this Agreement shall control. 
 SECTION 8.02. Survival of Agreements. Except as otherwise contemplated by the this Agreement, all covenants and agreements of the parties contained in this Agreement will remain in full force and effect
and survive the Distribution Time. 
 SECTION 8.03. Governing Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Wisconsin regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof. 
 SECTION 8.04. Notices. All notices and other communications hereunder shall be in writing and shall be deemed duly given (i) on the date of delivery if delivered personally, (ii) upon
confirmation of receipt if delivered by facsimile, (iii) on the first Business Day following the date of dispatch if delivered by a recognized next-day courier service or (iv) when received if delivered by registered or certified mail,
return receipt requested, postage prepaid. All notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice: 
  

							
		 	(a)	 	If to New MI Corp. or MI Corp. to:
			
		 		 	Marshall & Ilsley Corporation
		 		 	770 North Water Street
		 		 	Milwaukee, Wisconsin 53202
				
		 		 	Fax:	 	(414) 765-7809
		 		 	Attention:	 	Dennis Kuester
		 		 		 	President and Chief Executive Officer
		 		 		 	and
		 		 		 	Randall J. Erickson
		 		 		 	Senior Vice President, General Counsel
		 		 		 	and Corporate Secretary

  

 17 

							
	 	 	 	 	with a copy to:
			
		 		 	Sidley Austin LLP
		 		 	One South Dearborn Street
		 		 	Chicago, Illinois 60603
		 		 	Fax:	 	(312) 853-7036
		 		 	Attention:	 	Imad Qasim, Esq.
		 		 		 	Pran Jha, Esq.
			
		 	(b)	 	If to MVT Holding or MVT Corp. to:
			
		 		 	Metavante Corporation
		 		 	4900 West Brown Deer Rd.
		 		 	Milwaukee, Wisconsin 53223
				
		 		 	Fax:	 	(414) 362-1705
		 		 	Attention:	 	Frank Martire
		 		 		 	President and Chief Executive Officer
		 		 		 	and
		 		 		 	Norrie Daroga
		 		 		 	General Counsel
			
		 		 	with a copy to:
			
		 		 	Quarles & Brady LLP
		 		 	411 East Wisconsin Avenue
		 		 	Milwaukee, Wisconsin 53202-4497
		 		 	Fax:	 	(414) 978-8786
		 		 	Attention:	 	Patrick M. Ryan, Esq.

 SECTION 8.05. Payments. Any payment that may be due under this Agreement is to be
made by wire transfer of immediately available funds to the account designated by the MI Parties or the MVT Parties in such notice or by any other method as shall be agreed upon by the MI Parties and the MVT Parties. 
 SECTION 8.06. Consent to Jurisdiction. Each of the MVT Parties and the MI Parties irrevocably agrees that any legal action or proceeding
with respect to this Agreement, the transactions contemplated hereby, any provision hereof, the breach, performance, validity or invalidity hereof or for recognition and enforcement of any judgment in respect hereof brought by another party hereto
or its successors or permitted assigns may be brought and determined in any federal or state court located in the State of Wisconsin, and each of the MVT Parties and the MI Parties hereby irrevocably submits with regard to any such action or
proceeding for themselves and in respect to their property, generally and unconditionally, to the exclusive jurisdiction of the aforesaid courts. Each of the MVT Parties and the MI Parties hereby irrevocably waives, and agrees not to assert, by way
of motion, as a defense, counterclaim or 

  

 18 

 
otherwise, in any action or proceeding with respect to this Agreement, the transactions contemplated hereby, any provision hereof or the breach, performance,
enforcement, validity or invalidity hereof, (a) any claim that it is not personally subject to the jurisdiction of the above-named courts for any reason other than the failure to lawfully serve process, (b) that it or its property is
exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise)
and (c) to the fullest extent permitted by Applicable Laws, that (i) the suit, action or proceeding in any such court is brought in an inconvenient forum, (ii) the venue of such suit, action or proceeding is improper and
(iii) this Agreement, or the subject matter hereof, may not be enforced in or by such courts. 
 SECTION 8.07. Amendments.
This Agreement cannot be amended except by a written agreement executed by the MVT Parties and the MI Parties; provided, that, unless the Investment Agreement shall have been terminated, any such amendment shall be subject to the prior
written consent of Investor, such consent with respect to any such amendment after the Distribution Time not to be unreasonably withheld, conditioned or delayed. 
 SECTION 8.08. Assignment. No party to this Agreement will (or permit any of the members of its Group to) convey, assign or otherwise transfer any of its rights or obligations under this Agreement, in
whole or in part, without the prior written consent of the other parties in their sole and absolute discretion; provided, that unless the Investment Agreement shall have been terminated, any such assignment prior to the Distribution Time
shall be subject to the prior written consent of Investor. Any conveyance, assignment or transfer requiring the prior written consent of the other parties or Investor pursuant to this Section 8.08 that is made without such consent will
be void ab initio. No assignment of this Agreement will relieve the assigning party of its obligations hereunder. 
 SECTION 8.09.
Captions; Currency. The article, section and paragraph captions herein and the table of contents hereto are for convenience of reference only, do not constitute part of this Agreement and will not be deemed to limit or otherwise affect
any of the provisions hereof. Unless otherwise specified, all references herein to numbered articles or sections are to articles and sections of this Agreement and all references herein to schedules are to schedules to this Agreement. Unless
otherwise specified, all references contained in this Agreement, in any schedule referred to herein or in any instrument or document delivered pursuant hereto to dollars or “$” shall mean United States Dollars. 
 SECTION 8.10. Severability. If any provision of this Agreement or the application thereof to any Person or circumstance is determined by a
court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances other than those as to which it has been held invalid or unenforceable, will
remain in full force and effect and will in no way be affected, impaired or invalidated thereby. If the economic or legal substance of the transactions contemplated hereby is affected in any manner adverse to any party as a result thereof, the
parties and Investor will negotiate in good faith in an effort to agree upon a suitable and equitable substitute provision to effect the original intent of the parties. 
  

 19 

 SECTION 8.11. Parties in Interest. This Agreement is binding upon and is for the benefit of
the parties hereto and their respective successors and permitted assigns. This Agreement is not made for the benefit of any Person not a party hereto, and no Person other than the parties hereto or their respective successors and permitted assigns
will acquire or have any benefit, right, remedy or claim under or by reason of this Agreement, except that the provisions of Sections 8.08 and 8.10, the proviso in Section 8.07, the proviso in Section 8.13 and
this sentence of Section 8.11 shall also inure to the benefit of Investor. 
 SECTION 8.12. Schedules. All
schedules attached hereto are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Capitalized terms used in the schedules hereto but not otherwise defined therein will have the respective meanings assigned to
such terms in this Agreement. 
 SECTION 8.13. Waivers; Remedies. Any agreement on the part of a party hereto to waive the
performance by the other party of any of its covenants hereunder shall be valid only if set forth in a written instrument signed on behalf of such party; provided, that, unless the Investment Agreement shall have been terminated, any such
waiver shall be subject to the prior written consent of Investor, such consent with respect to any such waiver after the Distribution Time not to be unreasonably withheld, conditioned or delayed. No failure or delay on the part of either the MVT
Parties or the MI Parties in exercising any right, power or privilege hereunder will operate as a waiver thereof, nor will any waiver on the part of either the MVT Parties or the MI Parties of any right, power or privilege hereunder operate as a
waiver of any other right, power or privilege hereunder, nor will any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege
hereunder. 
 SECTION 8.14. Counterparts. This Agreement may be executed in separate counterparts, each such counterpart being
deemed to be an original instrument, and all such counterparts will together constitute the same agreement. 
 SECTION 8.15.
Performance. The MVT Parties will cause to be performed and hereby guarantee the performance of all actions, agreements and obligations set forth herein to be performed by any of their Subsidiaries. The MI Parties will cause to be
performed and hereby guarantee the performance of all actions, agreements and obligations set forth herein to be performed by any of their Subsidiaries. 
 SECTION 8.16. Interpretation. Any reference herein to any federal, state, local, or foreign law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context
requires otherwise. For the purposes of this Agreement, (a) words in the singular shall be held to include the plural and vice versa and words of one gender shall be held to include the other gender as the context requires,
(b) the terms “hereof”, “herein”, and “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of this Agreement
and (c) the word “including” and words of similar import when used in this Agreement shall mean “including, without limitation”. 
  

 20 

 SECTION 8.17. Enforcement. The parties agree that irreparable damage would occur in the
event that any of the provisions of this Agreement were not performed in accordance with their specific terms. It is accordingly agreed that the parties shall be entitled to pursue specific performance of the terms hereof, this being in addition to
any other remedy to which they are entitled at law or in equity. 
 SECTION 8.18. Mutual Drafting. This Agreement shall be
deemed to be the joint work product of the MVT Parties and the MI Parties and any rule of construction that a document shall be interpreted or construed against a drafter of such document shall not be applicable. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 21 

 IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized officers
of the parties as of the date first hereinabove written. 
  

					
	METAVANTE HOLDING COMPANY
			
	By:	 	 /s/ Gregory A. Smith
	 	
	Name:	 	Gregory A. Smith	 	
	Title:	 	 President
	 	
		
	METAVANTE CORPORATION	 	
			
	By:	 	 /s/ Donald Layden Jr.
	 	
	Name:	 	 Donald Layden Jr. 
	 	
	Title:	 	 Senior Executive Vice President
	 	
		
	NEW M&I CORPORATION	 	
			
	By:	 	 /s/ Gregory A. Smith
	 	
	Name:	 	Gregory A. Smith	 	
	Title:	 	 President
	 	
	
	MARSHALL & ILSLEY CORPORATION
			
	By:	 	 /s/ Mark F. Furlong
	 	
	Name:	 	Mark F. Furlong	 	
	Title:	 	 President
	 	

  

 22

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}]]