Document:

EX-10.1

 Exhibit 10.1 
  

 
 December 18, 2020 

Mr. Lawrence J. Burian 
 MSG Networks Inc. 

11 Penn Plaza 
 New York, NY 10001 

Dear Lawrence: 
 This letter agreement (the
“Agreement”), effective as of the date hereof (the “Effective Date”), will confirm the amended and restated terms of your continued employment with MSG Networks Inc. (the “Company”). 

1. Your title continues to be Executive Vice President & General Counsel and you will continue to report to the Chief Executive Officer of the
Company. You agree to devote such business time and attention to the business and affairs of the Company as is necessary to perform your duties in a diligent, competent, professional and skillful manner and in accordance with applicable law. The
Company acknowledges that, in addition to your services pursuant to this Agreement, you will simultaneously serve, and are expected to devote a portion of your business time and attention serving, as Executive Vice President, Corporate
Development & General Counsel of Madison Square Garden Sports Corp. (“MSGS”) and Executive Vice President, Corporate Development of MSG Entertainment Group, LLC (“MSGE”). The Company understands that as of the date
hereof you will be entering into an employment agreement with MSGE, and an amended and restated employment agreement with MSGS, and recognizes and agrees that your responsibilities to MSGS and MSGE will preclude you from devoting substantially all
of your time and attention to the Company’s affairs. In addition, as recognized in the Policy Concerning Certain Matters Relating to The Madison Square Garden Company (Formerly MSG Spinco Inc.) and AMC Networks Inc. Including Responsibilities
of Overlapping Directors and Officers (the “Overlap Policy”), there may be certain potential conflicts of interest and fiduciary duty issues associated with your roles at the Company, MSGE and MSGS. The Company recognizes and agrees that
none of (i) your responsibilities at the Company, MSGE and MSGS, (ii) your inability to devote substantially all of your time and attention to the Company’s affairs, (iii) the actual or potential conflicts of interest and
fiduciary duty issues that are waived in the Overlap Policy or (iv) any actions taken, or omitted to be taken, by you in good faith to comply with your duties and responsibilities to the Company in light of your responsibilities to the Company,
MSGE and MSGS, shall be deemed to be a breach by you of your obligations under this Agreement (including your obligations under Annex A) nor shall any of the foregoing constitute “Cause” as such term is defined herein. 

2. Your annual base salary will be not less than $290,000 annually, paid bi-weekly, subject to annual review and
potential increase by the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) in its discretion. The Compensation Committee will continue to review your compensation package on an annual basis to
ensure that you are paid consistently with other similarly situated executives as well as external peers. 

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001 || 

 3. You will also continue to participate in our discretionary annual bonus program with an annual target
bonus opportunity equal to not less than 150% of your annual base salary (with such target bonus opportunity effective for the current fiscal year). Bonus payments depend on a number of factors including Company, unit and individual performance.
However, the decision of whether or not to pay a bonus, and the amount of that bonus, if any, is made by the Compensation Committee in its sole discretion. Annual bonuses are typically paid early in the subsequent fiscal year. Except as otherwise
provided herein, in order to receive a bonus, you must be employed by the Company at the time bonuses are being paid. Notwithstanding the foregoing, if your employment with the Company ends on or after the Scheduled Expiration Date (as defined
below), you shall be paid your bonus for the fiscal year ending June 30, 2023, if any, even if such payment is not made to you prior to the Scheduled Expiration Date, which bonus shall be subject to Company and your business unit performance
for that fiscal year as determined by the Company in its sole discretion, but without adjustment for your individual performance. 
 4. You will also
continue, subject to your continued employment by the Company and actual grant by the Compensation Committee, to participate in such equity and other long-term incentive programs that are made available in the future to similarly situated executives
at the Company. Commencing with the Company’s fiscal year starting July 1, 2021, it is expected that such awards will consist of annual grants of cash and/or equity awards with an annual target value of not less than $525,000, all as determined
by the Compensation Committee in its discretion. All awards described in this Paragraph, in addition to being subject to actual grant by the Compensation Committee, would be pursuant to the applicable plan document and would be subject to any terms
and conditions established by the Compensation Committee in its sole discretion that would be detailed in separate agreements you would receive after any award is actually made; provided, however, that such terms and conditions shall be consistent
with those in awards granted to similarly situated executives. Long-term incentive awards are currently expected to be subject to three-year vesting. 
 5.
While you are employed by MSGS, you will not be eligible to participate in the Company’s benefits program except as provided below. If your employment with MSGS terminates while you remain employed by the Company, you will be eligible to
participate in our standard benefits program, subject to meeting the relevant eligibility requirements, payment of the required premiums, and the terms of the plans themselves. Notwithstanding the first sentence of this Paragraph 5, you will
continue to be eligible to participate in the Company’s (a) Excess Savings Plan (and your full Company base salary will be used to determine the applicable benefits under the Company’s Excess Savings Plan), and (b) its group life
and AD&D insurance policies. You will also continue to be eligible for paid time off to be accrued and used in accordance with Company policy, which currently allows for time off on a flexible and unlimited basis. 

6. If your employment with the Company is terminated on or prior to December 31, 2023 (the “Scheduled Expiration Date”) (i) by the Company
(other than for “Cause”); or (ii) by you for “Good Reason” (other than if “Cause” then exists); then, subject to your execution and delivery, within 60 days after the date of termination of your employment, and non-revocation (within any applicable revocation period) of the Separation Agreement (as defined below), the Company will provide you with the following: 

 

	 	(a)	 Severance in an amount to be determined by the Company (the “Severance Amount”), but in no event less
than two (2) times the sum of your annual base salary and your annual target bonus as in effect at the time your employment terminates. Sixty percent (60%) of the Severance Amount will be payable to you on the
six-month anniversary of the date your employment so terminates (the “Termination Date”) and the remaining forty percent (40%) of the Severance Amount will be payable to you on the twelve-month
anniversary of the Termination Date; 

  

	 	(b)	 Any unpaid annual bonus for the Company’s fiscal year prior to the fiscal year which includes your
Termination Date, and a pro rated bonus based on the amount of your base salary actually earned by you during the Company’s fiscal year through the Termination Date, each of which will be paid to you when such bonuses are generally paid
to similarly situated active executives 

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001 

	 	
and will be based on your then current annual target bonus as well as Company and your business unit performance for the applicable fiscal year as determined by the Company in its sole
discretion, but without adjustment for your individual performance; 

  

	 	(c)	 Each of your outstanding long-term cash awards granted under the plans of the Company shall immediately vest in
full and shall be payable to you at the same time as such awards are paid to active executives of the Company and the payment amount of such award shall be to the same extent that other similarly situated active executives receive payment as
determined by the Compensation Committee (subject to satisfaction of any applicable performance criteria but without adjustment for your individual performance); 

 

	 	(d)	 (i) All of the time-based restrictions on each of your outstanding restricted stock or restricted stock unit
awards granted to you under the plans of the Company shall immediately be eliminated, (ii) deliveries with respect to your restricted stock that are not subject to performance criteria or are subject to performance criteria that have previously been
satisfied (as certified by the Compensation Committee) shall be made immediately after the effective date of the Separation Agreement, (iii) payment and deliveries with respect to your restricted stock units that are not subject to performance
criteria or are subject to performance criteria that have previously been satisfied (as certified by the Compensation Committee) shall be made on the 90th day after the termination of your
employment and (iv) payments or deliveries with respect to your restricted stock and restricted stock units that are subject to performance criteria that have not yet been satisfied shall be made on the 90th day after the applicable performance criteria is certified by the Compensation Committee as having been satisfied; and 

 

	 	(e)	 Each of your outstanding stock options and stock appreciation awards, if any, under the plans of the Company
shall immediately vest and become exercisable, and you shall have the right to exercise each of those options and stock appreciation awards for the remainder of the term of such option or award. 

If you die after a termination of your employment that is subject to this Paragraph 6, your estate or beneficiaries will be provided with any remaining
benefits and rights under this Paragraph 6. 
 7. If you cease to be an employee of the Company on or prior to the Scheduled Expiration Date as a result of
your death or your Disability (as defined in the Company’s Long Term Disability Plan), and at such time Cause does not exist then, subject (other than in the case of death) to your execution and delivery, within 60 days after the date of
termination of your employment, and non-revocation (within any applicable revocation period) of the Separation Agreement, you or your estate or beneficiary shall be provided with the benefits and rights set
forth in Paragraphs 6(b), (d) and (e) above, and each of your outstanding long-term cash awards granted under the plans of the Company shall immediately vest in full, whether or not subject to performance criteria and shall be payable on the 90th day after the termination of your employment; provided, that if any such award is subject to any performance criteria, then (i) if the measurement period for such performance criteria has not
yet been fully completed, then the payment amount shall be at the target amount for such award and (ii) if the measurement period for such performance criteria has already been fully completed, then the payment of such award shall be at the
same time and to the extent that other similarly situated executives receive payment as determined by the Compensation Committee (subject to satisfaction of the applicable performance criteria). 

8. For purposes hereof, “Separation Agreement” shall mean the Company’s standard severance agreement (modified to reflect the terms of this
Agreement) which will include, without limitation, the provisions set forth in Paragraphs 6, 7 and 9 hereof and Annex A hereto regarding non-compete (limited to one year),
non-disparagement, non-hire/non-solicitation, confidentiality (including, without limitation, the last paragraph of
Section 3 of Annex A), and further cooperation obligations and restrictions on you (with Company 

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001 

 
reimbursement of your associated expenses and payment for your services as described in Annex A in connection with any required post-employment cooperation) as well as a general release by you of
the Company and its affiliates (and their respective directors and officers), but shall otherwise contain no post-employment covenants unless agreed to by you. The Company shall provide you with the form of Separation Agreement within seven days of
your termination of employment. For avoidance of doubt, your rights of indemnification under the Company’s Amended and Restated Certificate of Incorporation, under your indemnification agreement with the Company and under any insurance policy,
or under any other resolution of the Board of Directors of the Company shall not be released, diminished or affected by any Separation Agreement or release or any termination of your employment. 

9. Except as otherwise set forth in Paragraphs 6 and 7 hereof, in connection with any termination of your employment, your then outstanding equity and cash
incentive awards shall be treated in accordance with their terms and, other than as provided in this Agreement, you shall not be eligible for severance benefits under any other plan, program or policy of the Company. Nothing in this Agreement is
intended to limit any more favorable rights that you may be entitled to under your equity and cash incentive award agreements, including, without limitation, your rights in the event of a termination of your employment, a “Going Private
Transaction” or a “Change of Control” (as those terms are defined in the applicable award agreement). 
 10. For purposes of this Agreement,
“Cause” means your (i) commission of an act of fraud, embezzlement, misappropriation, willful misconduct, gross negligence or breach of fiduciary duty against the Company or an affiliate thereof, or (ii) commission of any
act or omission that results in a conviction, plea of no contest, plea of nolo contendere, or imposition of unadjudicated probation for any crime involving moral turpitude or any felony. 

For purposes of this Agreement, “Good Reason” means that (1) without your written consent, (A) your annual base salary or annual
target bonus (as each may be increased from time to time in the Compensation Committee’s sole discretion) is reduced, (B) your title (as in effect from time to time) is diminished, (C) you report to someone other than to the
President & Chief Executive Officer or the Executive Chairman of the Board of the Company, (D) you are no longer the Company’s most senior legal officer, (E) the Company requires that your principal office be located outside
of the Borough of Manhattan, (F) the Company materially breaches its obligations to you under this Agreement; or (G) your responsibilities as in effect immediately after the Effective Date are thereafter materially diminished, (2) you
have given the Company written notice, referring specifically to this Agreement and definition, that you do not consent to such action, (3) the Company has not corrected such action within 15 days of receiving such notice, and
(4) you voluntarily terminate your employment with the Company within 90 days following the happening of the action described in subsection (1) above. 

11. This Agreement does not constitute a guarantee of employment for any definite period. Your employment is at will and may be terminated by you or the
Company at any time, with or without notice or reason. 
 12. The Company may withhold from any payment due to you any taxes required to be withheld under
any law, rule or regulation. If any payment otherwise due to you hereunder would result in the imposition of the excise tax imposed by Section 4999 of the Code, the Company will instead pay you either (i) such amount or (ii) the
maximum amount that could be paid to you without the imposition of the excise tax, depending on whichever amount results in your receiving the greater amount of after-tax proceeds. In the event that the
payments and benefits payable to you would be reduced as provided in the previous sentence, then such reduction will be determined in a manner which has the least economic cost to you and, to the extent the economic cost is equivalent, such payments
or benefits will be reduced in the inverse order of when the payments or benefits would have been made to you (i.e. later payments will be reduced first) until the reduction specified is achieved. If the Company elects to retain any
accounting or similar firm to provide assistance in calculating any such amounts, the Company shall be responsible for the costs of any such firm. 

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001 

 13. It is intended that this Agreement will comply with Section 409A to the extent this Agreement is
subject thereto, and that this Agreement shall be interpreted on a basis consistent with such intent. If and to the extent that any payment or benefit under this Agreement, or any plan, award or arrangement of the Company or its affiliates,
constitutes “non-qualified deferred compensation” subject to Section 409A and is payable to you by reason of your termination of employment, then (a) such payment or benefit shall be made
or provided to you only upon a “separation from service” as defined for purposes of Section 409A under applicable regulations and (b) if you are a “specified employee” (within the meaning of Section 409A as
determined by the Company), such payment or benefit shall not be made or provided before the date that is six months after the date of your separation from service (or your earlier death). Any amount not paid or benefit not provided in respect of
the six month period specified in the preceding sentence will be paid to you, together with interest on such delayed amount at a rate equal to the average of the one-year LIBOR fixed rate equivalent for the
ten business days prior to the date of your employment termination, in a lump sum or provided to you as soon as practicable after the expiration of such six month period. Each payment or benefit provided under this Agreement shall be treated as a
separate payment for purposes of Section 409A to the extent Section 409A applies to such payment. 
 14. To the extent you are entitled to any
expense reimbursement from the Company that is subject to Section 409A, (i) the amount of any such expenses eligible for reimbursement in one calendar year shall not affect the expenses eligible for reimbursement in any other taxable year
(except under any lifetime limit applicable to expenses for medical care), (ii) in no event shall any such expense be reimbursed after the last day of the calendar year following the calendar year in which you incurred such expense, and
(iii) in no event shall any right to reimbursement be subject to liquidation or exchange for another benefit. 
 15. The Company will not take any
action, or omit to take any action, that would expose any payment or benefit to you to the additional tax of Section 409A, unless (i) the Company is obligated to take the action under an agreement, plan or arrangement to which you are a
party, (ii) you request the action, (iii) the Company advises you in writing that the action may result in the imposition of the additional tax and (iv) you subsequently request the action in a writing that acknowledges you will be
responsible for any effect of the action under Section 409A. The Company will hold you harmless for any action it may take or omission in violation of this Paragraph 15, including any attorney’s fees you may incur in enforcing your
rights. 
 16. It is our intention that the benefits and rights to which you could become entitled in connection with termination of employment be exempt
from or comply with Section 409A. If you or the Company believes, at any time, that any of such benefit or right is not exempt or does not comply, it will promptly advise the other and will negotiate reasonably and in good faith to amend the
terms of such arrangement such that it complies (with the most limited possible economic effect on you and on the Company). 
 17. This Agreement is
personal to you and without the prior written consent of the Company shall not be assignable by you. This Agreement shall inure to the benefit of and be enforceable by your legal representatives. This Agreement shall inure to the benefit of and be
binding upon the Company and its successors and assigns. The rights or obligations of the Company under this Agreement may only be assigned or transferred pursuant to a merger or consolidation in which the Company is not the continuing entity, or
the sale or liquidation of all or substantially all of the assets of Company; provided, however, that the assignee or transferee is the successor to all or substantially all of the assets of Company and such assignee or transferee assumes the
liabilities and duties of Company, as contained in this Agreement, either contractually or as a matter of law. 
 18. To the extent permitted by law, you
and the Company waive any and all rights to a jury trial with respect to any matter relating to this Agreement (including the covenants set forth in Annex A hereof). This Agreement will be governed by and construed in accordance with the law of the
State of New York applicable to contracts made and to be performed entirely within that State. 

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001 

 19. Both the Company and you hereby irrevocably submit to the jurisdiction of the courts of the State of New
York and the federal courts of the United States of America in each case located in the City of New York, Borough of Manhattan, solely in respect of the interpretation and enforcement of the provisions of this Agreement, and each party hereby
waives, and agrees not to assert, as a defense that either party, as appropriate, is not subject thereto or that the venue thereof may not be appropriate. You and the Company each agree that mailing of process or other papers in connection with any
such action or proceeding in any manner as may be permitted by law shall be valid and sufficient service thereof. 
 20. This Agreement may not be amended
or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or
enforceability of any other provision of this Agreement. It is the parties’ intention that this Agreement not be construed more strictly with regard to you or the Company. 

21. This Agreement reflects the entire understanding and agreement of you and the Company with respect to the subject matter hereof and supersedes all prior
understandings or agreements relating thereto, including, without limitation, the employment agreement dated September 6, 2018, as amended through June 19, 2020 (the “Prior Agreement”); provided, however, that you shall continue
to be entitled to any compensation, payments or other benefits to which you became entitled prior to the Effective Date pursuant to such agreement which have not been paid or delivered to you as of the Effective Date (without duplication of any
compensation, payment or other benefit payable to you pursuant to this Agreement), and you shall continue to be entitled to the benefits under the indemnification agreement between you and the Company. For the avoidance of doubt, you waive your
right to resign for Good Reason with respect to a Spin Termination (as defined in the amendment to the Prior Agreement dated June 19, 2020). 
 22.
This Agreement will automatically terminate, and be of no further force or effect, on the Scheduled Expiration Date; provided, however, that the provisions of Paragraphs 6 through 9, 12 through 22 and Annex A, and any amounts earned but not yet paid
to you pursuant to the terms of this Agreement as of the Scheduled Expiration Date shall survive the termination of the Agreement and remain binding on you and the Company in accordance with their terms. 

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001 

 
	
	Sincerely,
	
	MSG NETWORKS INC.
	
	 /s/ Andrea Greenberg

	By: Andrea Greenberg
	Title: President & Chief Executive Officer

  

	
	Accepted and Agreed:
	
	 /s/ Lawrence J. Burian

	Lawrence J. Burian

  

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001 

 ANNEX A 

ADDITIONAL COVENANTS 
 (This Annex
constitutes part of the Agreement) 
 You agree to comply with the following covenants in addition to those set forth in the Agreement. 

1. CONFIDENTIALITY 
 You agree to retain in strict confidence and
not divulge, disseminate, copy or disclose to any third party any Confidential Information, other than for legitimate business purposes of the Company and its subsidiaries. As used herein, “Confidential Information” means any non-public information that is material or of a confidential, proprietary, commercially sensitive or personal nature of, or regarding, the Company or any of its subsidiaries or any current or former director,
officer or member of senior management of any of the foregoing (collectively “Covered Parties”). The term Confidential Information includes information in written, digital, oral or any other format and includes, but is not limited to
(i) information designated or treated as confidential; (ii) budgets, plans, forecasts or other financial or accounting data; (iii) customer, broadcast affiliate, fan, vendor, sponsor, marketing affiliate or shareholder lists or data;
(iv) technical or strategic information regarding the Covered Parties’ television, programming, advertising, or other businesses; (v) advertising, sponsorship, business, sales or marketing tactics, strategies or information;
(vi) policies, practices, procedures or techniques; (vii) trade secrets or other intellectual property; (viii) information, theories or strategies relating to litigation, arbitration, mediation, investigations or matters relating to
governmental authorities; (ix) terms of agreements with third parties and third party trade secrets; (x) information regarding employees, talent, agents, consultants, advisors or representatives, including their compensation or other human
resources policies and procedures; (xi) information or strategies relating to any potential or actual business development transactions and/or any potential or actual business acquisition, divestiture or joint venture, and (xii) any other
information the disclosure of which may have an adverse effect on the Covered Parties’ business reputation, operations or competitive position, reputation or standing in the community. 

If disclosed, Confidential Information or Other Information could have an adverse effect on the Company’s standing in the community, its business
reputation, operations or competitive position or the standing, reputation, operations or competitive position of any of its affiliates, subsidiaries, officers, directors, employees, consultants or agents or any of the Covered Parties. 

Notwithstanding the foregoing, the obligations of this section, other than with respect to subscriber information, shall not apply to Confidential Information
which is: 
 a) already in the public domain or which enters the public domain other than by your breach of this Paragraph 1; 

b) disclosed to you by a third party with the right to disclose it in good faith; or 

c) specifically exempted in writing by the Company from the applicability of this Agreement. 

Notwithstanding anything elsewhere in this Agreement, including this Paragraph 1 and Paragraph 3 below, you are authorized to make any disclosure required of
you by any federal, state and local laws or judicial, arbitral or governmental agency proceedings (including making truthful statements in connection with a judicial or arbitral proceeding to enforce your rights under this Agreement, to the extent
reasonably required and made in good faith), after, to the extent legal and practicable, providing the Company with prior written notice and an opportunity to respond prior to such disclosure. In addition, this Agreement in no way restricts or
prevents you from providing truthful testimony concerning the Company to judicial, administrative, regulatory or other governmental authorities. 

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001 

 2. NON-COMPETE 

You acknowledge that due to your executive position in the Company and the knowledge of the Company’s and its affiliates’ confidential and
proprietary information which you will obtain during the term of your employment hereunder, your employment by certain businesses would be irreparably harmful to the Company and/or its affiliates. During your employment with the Company and
thereafter through the first anniversary of the date on which your employment with the Company has terminated for any reason, you agree, to the extent permissible under applicable rules of professional responsibility, not to (other than with the
prior written consent of the Company), become employed by any Competitive Entity (as defined below). A “Competitive Entity” shall mean any regional sports network primarily distributed in the New York Metropolitan Area. Additionally, the
ownership by you of not more than 1% of the outstanding equity of any publicly traded company shall not, by itself, be a violation of this Paragraph. 
 3.
ADDITIONAL UNDERSTANDINGS 
 You agree, for yourself and others acting on your behalf, that you (and they) have not disparaged and will not disparage, make
negative statements about (either “on the record” or “off the record”) or act in any manner which is intended to or does damage to the good will of, or the business or personal reputations of the Company or any of its incumbent
or former officers, directors, agents, consultants, employees, successors and assigns or any of the Covered Parties. 
 The Company agrees that, except as
necessary to comply with applicable law or the rules of the New York Stock Exchange or any other stock exchange on which the Company’s stock may be traded (and any public statements made in good faith by the Company in connection therewith), it
and its corporate officers and directors, employees in its public relations department or third party public relations representatives retained by the Company will not disparage you or make negative statements in the press or other media which are
damaging to your business or personal reputation. In the event that the Company so disparages you or makes such negative statements, then notwithstanding the “Additional Understandings” provision to the contrary, you may make a
proportional response thereto. 
 In addition, you agree that the Company is the owner of all rights, title and interest in and to all documents, tapes,
videos, designs, plans, formulas, models, processes, computer programs, inventions (whether patentable or not), schematics, music, lyrics and other technical, business, financial, advertising, sales, marketing, customer or product development
plans, forecasts, strategies, information and materials (in any medium whatsoever) developed or prepared by you or with your cooperation in connection with your employment by the Company (the “Materials”). The Company will have the sole
and exclusive authority to use the Materials in any manner that it deems appropriate, in perpetuity, without additional payment to you. 
 If requested by
the Company, you agree to deliver to the Company upon the termination of your employment, or at any earlier time the Company may request, all memoranda, notes, plans, files, records, reports, and software and other documents and data (and copies
thereof regardless of the form thereof (including electronic copies)) containing, reflecting or derived from Confidential Information or the Materials of the Company or any of its affiliates which you may then possess or have under your control. If
so requested, you shall provide to the Company a signed statement confirming that you have fully complied with this Paragraph. Notwithstanding the foregoing, you shall be entitled to retain your contacts, calendars and personal diaries and any
materials needed for your tax return preparation or related to your compensation. 
 In addition, you agree for yourself and others acting on your behalf,
that you (and they) shall not, at any time, participate in any way in the writing or scripting (including, without limitation, any “as told to” publications) of any book, periodical story, movie, play, or other similar written or
theatrical work or video that (i) relates to 

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001 

 
your services to the Company or any of its affiliates or (ii) otherwise refers to the Company or its respective businesses, activities, directors, officers, employees or representatives
(other than identifying your biographical information), without the prior written consent of the Company. 
 4. FURTHER COOPERATION 

Following the date of termination of your employment with the Company (the “Expiration Date”), you will no longer provide any regular services to the
Company or represent yourself as a Company agent. If, however, the Company so requests, you agree to cooperate fully with the Company in connection with any matter with which you were involved prior to the Expiration Date, or in any litigation or
administrative proceedings or appeals (including any preparation therefore) where the Company believes that your personal knowledge, attendance and participation could be beneficial to the Company. This cooperation includes, without limitation,
participation on behalf of the Company in any litigation or administrative proceeding brought by any former or existing Company employees, representatives, agents or vendors. The Company will pay you (separate and apart from any amounts payable by
MSGE or MSGS to the extent that such cooperation applies to one or both of those companies as well) for your services rendered under this provision at the rate of $8,160 per day for each day or part thereof, within 30 days of the approval of
the invoice therefor. 
 The Company will provide you with reasonable notice in connection with any cooperation it requires in accordance with this section
and will take reasonable steps to schedule your cooperation in any such matters so as not to materially interfere with your other professional and personal commitments. The Company will reimburse you for any reasonable
out-of-pocket expenses you reasonably incur in connection with the cooperation you provide hereunder as soon as practicable after you present appropriate documentation
evidencing such expenses. You agree to provide the Company with an estimate of such expense before you incur the same. 
 5.
NON-HIRE OR SOLICIT 
 You agree not to hire, seek to hire, or cause any person or entity to hire or seek to hire
(without the prior written consent of the Company), directly or indirectly (whether for your own interest or any other person or entity’s interest) any person who is or was in the prior six months an employee of the Company, or any of its
subsidiaries, until the first anniversary of the date of your termination of employment with the Company. This restriction does not apply to any former employee who was discharged by the Company or any of its affiliates, or to your then current
executive administrative assistant. In addition, this restriction will not prevent you from providing references. If you remain continuously employed with the Company through the Scheduled Expiration Date, then this agreement not to hire or solicit
will expire on the Scheduled Expiration Date. 
 6. ACKNOWLEDGMENTS 

You acknowledge that the restrictions contained in this Annex A, in light of the nature of the Company’s business and your position and responsibilities,
are reasonable and necessary to protect the legitimate interests of the Company. You acknowledge that the Company has no adequate remedy at law and would be irreparably harmed if you breach or threaten to breach the provisions of this Annex A, and
therefore agree that the Company shall be entitled to injunctive relief, to prevent any breach or threatened breach of any of those provisions and to specific performance of the terms of each of such provisions in addition to any other legal or
equitable remedy it may have. You further agree that you will not, in any equity proceeding relating to the enforcement of the provisions of this Annex A, raise the defense that the Company has an adequate remedy at law. Nothing in this Annex A
shall be construed as prohibiting the Company from pursuing any other remedies at law or in equity that it may have or any other rights that it may have under any other agreement. If it is determined that any of the provisions of this Annex A or any
part thereof, is unenforceable because of the duration or scope (geographic or otherwise) of such provision or because of applicable rules of professional responsibility, it is the intention of the parties that the duration or scope of such
provision, as the case may be, shall be reduced so that such provision becomes enforceable and, in its reduced form, such provision shall then be enforceable and shall be enforced. 

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001 

 7. SURVIVAL 

The provisions of this Annex A shall survive any termination of your employment by the Company or the expiration of the Agreement except as otherwise provided
herein. 

  
 MSG Networks Inc. 

ELEVEN PENNSYLVANIA PLAZA – 3rd Floor, NEW YORK, NY 10001EX-10.1

 EXHIBIT 10.1 

MARLIN BUSINESS SERVICES CORP. 

2019 EQUITY COMPENSATION PLAN 

PERFORMANCE STOCK UNIT AWARD 
 The
Compensation Committee of the Board of Directors of Marlin Business Services Corp. (the “Committee”) has determined to grant to you a performance stock unit award which is convertible to shares of common stock of Marlin Business
Services Corp. under the Marlin Business Services Corp. 2019 Equity Compensation Plan (the “Plan”). The terms of the grant are set forth in the attached Performance Stock Unit Award Agreement (the “Agreement”)
provided to you. The following provides a summary of the key terms of this grant; however, you should read the entire Agreement, along with the terms of the Plan, to fully understand this grant. 

SUMMARY OF PERFORMANCE STOCK UNIT GRANT 
  

			
		
	Grantee:	    	[●]
		
	Date of Grant:	    	December 14, 2020
		
	Total Number of Performance
Stock Units Granted*:	    	[●]
		
	Vesting**:	    	The number of performance stock units, if any, that may become earned and vested will be determined based on the level of achievement of the performance goals set forth on Exhibit A to the Agreement for the Performance
Period (as defined in the Agreement) and the other terms and conditions as set forth in the Agreement.
		
	Distribution Date:	    	Performance stock units, if any, that become earned and vested shall be redeemed at the time specified in the Agreement.

  

	*	 This represents the target number of performance stock units that may be issued under the Agreement. The
threshold number of performance stock units that may be issued under the Agreement are set forth on Exhibit A to the Agreement. No more than the target number of Performance Stock Units may become earned and vested. 

	**	 Except as otherwise provided in the Agreement, the Grantee must remain continuously employed by, or providing
service to, the Employer (as defined in the Plan) from the Date of Grant to the last day of the Performance Period in order to be eligible to earn and vest in any performance stock units subject to this grant for which the Performance Goals (as
defined herein) have been met, as certified by the Committee. 

 MARLIN BUSINESS SERVICES CORP. 

2019 EQUITY COMPENSATION PLAN 

PERFORMANCE STOCK UNIT AWARD AGREEMENT 
  

This PERFORMANCE STOCK UNIT AWARD AGREEMENT, dated as of December 14, 2020 (the “Date of Grant”), is delivered by Marlin
Business Services Corp. (the “Company”) to [●] (the “Grantee”). 
 RECITALS 

A.    The Marlin Business Services Corp. 2019 Equity Compensation Plan (the “Plan”) provides for the
grant of stock units which are phantom units convertible into shares of common stock of the Company (the “Company Stock”) if certain terms and conditions are met. 

B.    The Compensation Committee of the Board of Directors of the Company (the “Committee”) has
determined to make a performance stock unit grant under the Plan as an inducement for the Grantee to promote the best interests of the Company and its shareholders and the terms and conditions of such performance stock unit grant, including the
performance goals and other terms and conditions of such performance stock unit grant shall be memorialized in this Performance Stock Unit Award Agreement (the “Agreement”). The Grantee may receive a copy of the Plan by contacting
Ryan Melcher, Corporate Secretary, at 856-505-4105. 
 NOW,
THEREFORE, the parties to this Agreement, intending to be legally bound hereby, agree as follows: 
 1.    Grant of Performance Stock
Units. Subject to the terms and conditions set forth in this Agreement and the Plan, the Company hereby grants to the Grantee [●] stock units (collectively, the “Performance Stock Units”). The Performance Stock Units will
be earned and vested and distributable if and only to the extent that the Performance Goals (as defined in Exhibit A below) and other terms and conditions set forth in this Agreement are met. Each Performance Stock Unit shall be a phantom
right and shall be equivalent to one share of Company Stock on the applicable Distribution Date (as defined below). The number of Performance Stock Units set forth above is equal to the target number of shares of Company Stock that the Grantee may
be eligible to earn and become vested for 100% achievement of the Performance Goals. The threshold number of Performance Stock Units that may be issued under the Agreement are set forth on Exhibit A to the Agreement. No more than the target
number of Performance Stock Units may become earned and vested. 
 2.    Performance Stock Unit Account. The Company shall
establish and maintain a Performance Stock Unit account as a bookkeeping account on its records (the “Performance Stock Unit Account”) for the Grantee and shall record in such Performance Stock Unit Account the number of Performance
Stock Units granted to the Grantee. The Grantee shall not have any interest in any fund or specific assets of the Company by reason of this grant nor the Performance Stock Unit Account established for the Grantee. 

  
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 3.    Performance Goals. 

(a)    The number of Performance Stock Units subject to this Agreement that may become earned and vested is expressly
contingent upon the level of achievement of the Performance Goals, as certified by the Committee, and the other terms and conditions of the Agreement. 

(b)    Unless a Change of Control (as defined in the Plan) occurs prior to the end of the Performance Period, then within
forty-five (45) days following the end of the Performance Period the Committee will determine whether and to what extent the Performance Goals have been met and will certify the number of Performance Stock Units in which the Grantee may become
earned and vested, if any, as set forth in Section 1 of Exhibit A; provided that, except as provided in Paragraph 4(c), the Grantee must be employed by, or providing service to, the Employer on December 14, 2023 (the
“Vesting Date”) in order to earn and vest in the Performance Stock Units that the Committee has certified, unless, following the end of the Performance Period, but prior to the date on which the Performance Stock Units are
distributed to the Grantee, the Grantee’s employment or service is terminated by the Employer on account of Cause (as defined in the Company’s Severance Pay Plan for Senior Management (the “Severance Plan”)), in which case
all such Performance Stock Units shall be immediately forfeited and the Grantee shall not have rights to the distribution of any Performance Stock Units under this Agreement. Any Performance Stock Units for which the Performance Goals were not met
at the end of the Performance Period, as certified by the Committee after the end of the Performance Period, shall be forfeited and the Grantee shall not have any rights with respect to the distribution of any portion of the Performance Stock Units
that are forfeited. The Performance Stock Units that become earned and vested as described in this Paragraph shall be distributed to the Grantee on the Distribution Date in accordance with Paragraph 5. 

(c)    If a Change of Control occurs prior to the end of the Performance Period and, except as provided in Paragraph 4(c),
the Grantee is employed by, or providing service to, the Employer, on the date of the Change of Control, then the Performance Period will end on the date of the Change of Control and on or prior to such date the Committee will determine whether and
to what extent the Performance Goals have been met and will certify the number of Performance Stock Units in which the Grantee may become earned and vested, if any, as set forth in Section 2 of Exhibit A; provided that the Grantee must
be employed by, or providing service to, the Employer on December 14, 2023 in order to earn and vest in the Performance Stock Units, unless, on or after the date of the Change of Control, but prior to December 14, 2023, the Grantee’s
employment or service is terminated by the Employer on account of death, Disability (as defined in the Plan) or a termination without Cause or the Grantee resigns for Good Reason (as defined in the Severance Plan), in which case the date on which
the Grantee’s employment or service is terminated shall be the Vesting Date (i.e., the Vesting Date shall be accelerated to the date on which the Grantee’s employment or service terminates) for purposes of the Grantee earning and
becoming vested in the Performance Stock Units (if any) that have become vested pursuant to this Paragraph 3(c). Any Performance Stock Units for which the Performance Goals were not met, as certified by the Committee pursuant to this Paragraph,
shall be forfeited and the Grantee shall not have any rights with respect to the distribution of any portion of the Performance Stock Units that are forfeited. The Performance Stock Units that become earned and vested as described in this Paragraph
shall be distributed to the Grantee on the Distribution Date in accordance with Paragraph 5. 

  
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 (d)    For the purposes of this Agreement, the term “Performance
Period” shall mean, unless otherwise provided in Exhibit A, the period beginning on the Date of Grant and ending on December 14, 2023. 

4.    Termination of Employment or Service. 

(a)    Termination for Cause. If at any time prior to the Distribution Date the Grantee’s employment or service
with the Employer is terminated by the Employer on account of Cause, then all of the Performance Stock Units subject to this Agreement shall be immediately forfeited as of the date of the Grantee’s termination of employment or service with the
Employer and the Grantee shall not have any rights with respect to the distribution of any portion of the Performance Stock Units. 

(b)    Voluntary Termination Without Good Reason. If at any time prior to the earlier of (i) December 14,
2023 or (ii) the Distribution Date, the Grantee’s employment or service with the Employer is terminated by the Grantee for any reason other than on account of Good Reason, then all of the Performance Stock Units subject to this Agreement
shall be immediately forfeited as of the date of the Grantee’s termination of employment or service with the Employer and the Grantee shall not have any rights with respect to the distribution of any portion of the Performance Stock Units. 

(c)    Termination by Employer without Cause, Death or Disability; Resignation for Good Reason. If at any time
prior to the earlier to occur of (i) December 14, 2023 or (ii) a Change of Control, the Grantee’s employment or service with the Employer is terminated by the Employer on account of death, Disability or without Cause or by the
Grantee for Good Reason, then the Grantee shall be entitled to a pro rata number of Performance Stock Units, which pro ration shall be determined by multiplying the number of Performance Units that are earned as provided in Section 3 as if the
Grantee did not have a termination of employment or service, by a fraction, the numerator of which is the number of days during the Performance Period that the Participant was employed by, or providing service to, to the Employer, and the
denominator of which is the total number of days in the Performance Period. The prorated amount, if any, distributable to the Grantee as provided in this Paragraph 4(c), based on the level of achievement of the performance goals as provided in
Paragraph 3, shall be distributed to the Grantee at the time provided in Paragraph 5. 
 5.    Time and Form of Payment with Respect
to Performance Stock Units. The Grantee (or, in the event of death, the Grantee’s estate) shall receive a distribution with respect to Performance Stock Units, if any, that become earned and vested as described in Paragraph 3 above as
follows (i) with respect to Paragraph 3(b), in February 2024 and (ii) with respect to Paragraph 3(c), (a) if the Grantee is employed by, or providing service to, the Employer on the date of the Change of Control, the earlier of
(1) within thirty (30) days following the date on which the Grantee’s employment or service terminates or (2) February, 2024 or (b) if the Grantee’s employment or service terminates on account of Paragraph 4(c) prior to
the date of the Change of Control, within thirty (30) days following the date of the Change of Control. The Performance Stock Units, if any, that have become earned and vested will be distributed in shares of Company Stock (or such other
equivalent consideration following a Change of Control), with each earned and vested Performance Stock Unit equivalent to one share of Company Stock. Fractional Performance Stock 

  
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Units shall be disregarded. Any Performance Stock Units not earned and vested because of the failure to satisfy the performance conditions and continuing employment and service conditions, are
forfeited as described in Paragraphs 3 or 4 above. The date on which the earned and vested Performance Stock Units are distributed as provided in this Paragraph 5 is hereinafter referred to as the “Distribution Date”. 

6.    Dividend Equivalents. Should any ordinary dividends be declared and paid with respect to the shares of Company Stock during
the period between (a) the Date of Grant and (b) the Distribution Date (i.e., shares of Company Stock issuable under the Performance Stock Units are not issued and outstanding for purposes of entitlement to the dividend), the
Company shall credit to a dividend equivalent bookkeeping account (the “Dividend Equivalent Account”) the value of the dividends that would have been paid if the outstanding Performance Stock Units credited to the Grantee’s
Performance Stock Unit Account at the time of the declaration of the dividend were outstanding shares of Company Stock. At the same time that the corresponding Performance Stock Units are converted to shares of Company Stock and distributed to the
Grantee as set forth in Paragraph 5, the Company shall pay to the Grantee a lump sum cash payment equal to the value of the dividends credited to the Grantee’s Dividend Equivalent Account that correspond to such vested and earned Performance
Stock Units; provided, however, that any dividends that were credited to the Grantee’s Dividend Equivalent Account that are attributable to Performance Stock Units that have been forfeited as provided in Paragraphs 3 or 4 above shall be
forfeited and not payable to the Grantee. No interest shall accrue on any dividend equivalents credited to the Grantee’s Dividend Equivalent Account. 

7.    Change of Control. Except as otherwise set forth in this Agreement, the provisions set forth in the Plan applicable to a
Change of Control shall apply to the Performance Stock Units, and, in the event of a Change of Control, the Committee may take such actions as it deems appropriate pursuant to the Plan and is consistent with the requirements of section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”). 
 8.    Acknowledgment by Grantee. By accepting this
grant, the Grantee acknowledges that with respect to any right to redemption pursuant to this Agreement, the Grantee is and shall be an unsecured general creditor of the Company without any preference as against other unsecured general creditors of
the Company, and the Grantee hereby covenants for himself or herself, and anyone at any time claiming through or under the Grantee not to claim any such preference, and hereby disclaims and waives any such preference which may at any time be at
issue, to the fullest extent permitted by applicable law. The Grantee also agrees to be bound by the terms of the Plan and this Agreement. The Grantee further agrees to be bound by the determinations and decisions of the Committee with respect to
this Agreement and the Plan and the Grantee’s rights to benefits under this Agreement and the Plan, and agrees that all such determinations and decisions of the Committee shall be binding on the Grantee, his or her beneficiaries and any other
person having or claiming an interest under this Agreement and the Plan on behalf of the Grantee. 
 9.    Restrictions on Issuance
or Transfer of Shares of Company Stock. 
 (a)    The obligation of the Company to deliver shares of Company Stock
upon the redemption of the Performance Stock Units shall be subject to the condition that if at any time the Committee shall determine in its discretion that the listing, registration or qualification of the

  
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shares of Company Stock upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of,
or in connection with, the issuance of shares of Company Stock, the shares of Company Stock may not be issued in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any
conditions not acceptable to the Committee. The issuance of shares of Company Stock pursuant to this Agreement is subject to any applicable taxes and other laws or regulations of the United States or of any state having jurisdiction thereof. 

(b)    As a condition to receive any shares of Company Stock on the Distribution Date, the Grantee agrees to be bound by
the Company’s policies regarding the transfer of the shares of Company Stock and understands that there may be certain times during the year in which the Grantee will be prohibited from selling, transferring, pledging, donating, assigning,
mortgaging, hypothecating or otherwise encumbering the shares of Company Stock. The Grantee also acknowledges and agrees that this grant is subject to any applicable clawback, recoupment or other policies relating to shares of Company Stock
implemented by the Company, as in effect from time to time. 
 (c)    As soon as administratively practicable following
the Distribution Date, a certificate representing the shares of Company Stock that are redeemed shall be issued to the Grantee. 

10.    Grant Subject to Plan Provisions. This grant is made pursuant to the Plan, the terms of which are incorporated herein by
reference, and in all respects shall be interpreted in accordance with the Plan. In the event of any contradiction, distinction or difference between this Agreement and the terms of the Plan, the terms of the Plan will control. Except as otherwise
defined in this Agreement, capitalized terms used in this Agreement shall have the meanings set forth in the Plan. This Agreement is subject to the interpretations, regulations and determinations concerning the Plan established from time to time by
the Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (a) rights and obligations with respect to withholding taxes, (b) the registration, qualification or listing of the shares
of Company Stock, (c) changes in capitalization of the Company, and (d) other requirements of applicable law. The Committee shall have the authority to interpret and construe this Agreement pursuant to the terms of the Plan, its decisions
shall be conclusive as to any questions arising hereunder and the Grantee’s acceptance of this Agreement is the Grantee’s agreement to be bound by the interpretations and decisions of the Committee with respect to this Agreement and the
Plan. 
 11.    No Rights as Shareholder. The Grantee shall not have any rights as a shareholder of the Company, including the
right to any cash dividends or other distributions (except as provided in Paragraph 6), or the right to vote, with respect to any Performance Stock Units. 

12.    No Rights to Continued Employment or Service. This grant shall not confer upon the Grantee any right to be retained in the
service or employment of the Employer and shall not interfere in any way with the right of the Employer to terminate the Grantee’s employment or service at any time. The right of the Employer to terminate at will the Grantee’s employment
or at any time for any reason is specifically reserved. 

  
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 13.    Assignment and Transfers. Prior to the actual issuance of the shares of
Company Stock under the Performance Stock Units which become earned and vested hereunder, the Grantee may not transfer any interest in the Performance Stock Units or dividend equivalents or the underlying shares of Company Stock or pledge or
otherwise hedge the sale of those units, dividend equivalents or shares, including (without limitation) any short sale or any acquisition or disposition of any put or call option or other instrument tied to the value of those shares. However, any
shares which are earned and vested hereunder but otherwise remain unissued at the time of the Grantee’s death shall be transferred pursuant to the provisions of the Grantee’s will or the laws of inheritance. Any attempt to transfer,
assign, pledge, or encumber the Performance Stock Units or dividend equivalents under this grant by the Grantee shall be null, void and without effect. The rights and protections of the Company hereunder shall extend to any successors or assigns of
the Company. This Agreement may be assigned by the Company without the Grantee’s consent. 
 14.    Withholding. The Grantee
shall be required to pay to the Employer, or make other arrangements satisfactory to the Company to provide for the payment of, any federal, state, local or other taxes that the Company is required to withhold with respect to the grant, vesting and
redemption of the Performance Stock Units and dividend equivalents. Subject to Committee approval, the Grantee may elect to satisfy any tax withholding obligation of the Employer with respect to the distribution of shares of Company Stock pursuant
to the Performance Stock Units that are earned and vested by having shares of Company Stock withheld up to an amount that does not exceed the minimum applicable withholding tax rate for federal (including FICA), state, local and other tax
liabilities. Notwithstanding anything to the contrary herein or the Plan, until the Grantee has satisfied the Company’s withholding obligation with respect to the shares of Company Stock as described in this Paragraph 14, the Grantee shall not
have any rights to sell or transfer any shares of Company Stock that have been distributed to the Grantee pursuant to this Agreement. 

15.    Effect on Other Benefits. The value of shares of Company Stock and dividend equivalents distributed with respect to the
Performance Stock Units shall not be considered eligible earnings for purposes of any other plans maintained by the Company or the Employer. Neither shall such value be considered part of the Grantee’s compensation for purposes of determining
or calculating other benefits that are based on compensation, such as life insurance. 
 16.    Applicable Law. The validity,
construction, interpretation and effect of this grant shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without giving effect to the conflicts of laws provisions thereof. 

17.    Notice. Any notice to the Company provided for in this instrument shall be addressed to the Company in care of the General
Counsel at the corporate headquarters of the Company, and any notice to the Grantee shall be addressed to such Grantee at the current address shown on the payroll records of the Employer, or to such other address as the Grantee may designate to the
Company in writing. Any notice shall be delivered by hand, sent by telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States
Postal Service. 
 18.    Section 409A of the Code. This grant of Performance Stock Units is intended to be exempt from the
requirements of section 409A of the Code in reliance on the short-term deferral exception under section 409A of the Code. Notwithstanding the foregoing, if any Performance Stock Units 

  
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are subject to the requirements of section 409A of the Code it is intended that this Agreement comply with the requirements of section 409A of the Code with respect to such Performance Stock
Units and this Agreement shall be interpreted and administered to avoid any penalty sanctions under section 409A of the Code. If any distribution or payment cannot be provided or made at the time specified herein, then such distribution or payment
shall be provided in full at the earliest time thereafter when such sanctions cannot be imposed, including if the distribution is subject to the requirements of section 409A of the Code and is paid to the Grantee on account of (i) separation
from service, delaying such distribution until six (6) months following the date of the Grantee’s separation from service if the Grantee is a specified employee (as defined in section 409A of the Code and its corresponding regulations) at
such time and (ii) a change in control, such distribution will only be paid on account of a change in control if such is a change in control within the meaning of section 409A of the Code and its corresponding regulations. In no event may the
Grantee, directly or indirectly, designate the calendar year of distribution or payment. The Grantee shall be solely responsible for the tax consequences of the Performance Stock Units and dividend equivalents granted pursuant to this Agreement.

 [SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the Company has caused its duly authorized officer to execute this
instrument effective as of the Date of Grant, and the Grantee has placed his or her signature hereon, effective as of the Date of Grant. 
  

			
	MARLIN BUSINESS SERVICES CORP.
		
	By:	 	  

		 	Jeffrey Hilzinger
		 	Chief Executive Officer

 I hereby accept the grant of Performance Stock Units described in this Agreement. I have read the terms of the Plan and
this Agreement and agree to be bound by the terms of the Plan and this Agreement. I hereby further agree that all of the decisions and determinations of the Committee shall be final and binding. 

 

			
	ACCEPTED:

 
			
		
	By:	 	  

	 	 	[●]

  
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 EXHIBIT A 

Performance Goals 
 The number of
Performance Stock Units that may be earned and vested shall be determined based on the level of achievement of the Performance Goal set forth in this Exhibit A and the other terms and conditions set forth in this Exhibit A and the
Agreement. Unless otherwise defined herein, all capitalized terms set forth herein shall have the meaning set forth in the Agreement and the Plan. 
 For
purposes of this Agreement, the “Performance Goal” shall be the Company’s “Adjusted Ending Stock Price” (as defined below) on the last day of the Performance Period. 

 

	 	1.	 Performance Goals 

  

	 	a.	 “Adjusted Ending Stock Price” means the trailing twenty (20) consecutive trading day
average closing stock price of Company Stock on the last day of the Performance Period, multiplied by the Dividend Adjustment Factor (as defined below). Notwithstanding the foregoing, if a Change of Control occurs prior to the end of the Performance
Period, the Performance Goal shall be adjusted as set forth in Section 2 of this Exhibit A below. 

“Dividend Adjustment Factor” means initially, 1.0000, and upon each cash dividend paid by the Company from the Date of Grant
through the last day on which the Performance Goal is measured, the Dividend Adjustment Factor then in effect shall be increased by adding an amount equal to such per share cash dividend, divided by the per share closing price of Company Stock on
the related ex-dividend date, with the result being the new “Dividend Adjustment Factor” then in effect. The Dividend Adjustment Factor shall be calculated to four decimals. 

 

	 	b.	 The Performance Goals are set forth in the chart below (and for the avoidance of doubt, there shall not be any
interpolation between Performance Goal levels): 

  

							
	 	  	Performance Goals	 
	 	  	Adjusted Ending
Stock Price	  	Aggregate Shares Earned as
Percentage of Target	 
	 Target
	  	$28.00 or above	  	 	100	% 
		  	$25.00-$27.99	  	 	80	% 
		  	$22.00-$24.99	  	 	60	% 
		  	$19.00-$21.99	  	 	40	% 
	 Threshold
	  	$16.00-$18.99	  	 	20	% 
		  	<$16.00	  	 	0	% 

  

	 	2.	 Notwithstanding the foregoing, if the provisions of Paragraph 3(c) of the Agreement apply as a result of a
Change of Control occurring prior to the end of the Performance Period, the last day of the Performance Period shall be the date of the Change of Control and the “Adjusted Ending

  
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Stock Price” shall be deemed to be the price per share of Company Stock on the date of the Change of Control (i.e., the per share transaction price payable to the Company’s shareholders
in such Change of Control transaction), multiplied by the Dividend Adjustment Factor. 

  

	 	3.	 Within the time period set forth in Paragraph 3(b) of the Agreement (or, if applicable, Paragraph 3(c) of the
Agreement), the Committee will determine and certify the level of the Performance Goal that was achieved during the Performance Period and will certify the number of Performance Stock Units, if any, that may become earned and vested. Any fractional
units will be rounded down to the nearest whole Performance Stock Unit. 

  

	 	4.	 For any Performance Stock Units for which the Performance Goal was not met, such Performance Stock Units shall
be immediately forfeited upon the Committee’s certification. 

  

	 	5.	 The Committee shall notify the Grantee following certification as to the number of Performance Stock Units, if
any, that may become earned and vested based on the level of achievement of the Performance Goals as certified by the Committee. In order to earn and vest in the number of Performance Stock Units which have been certified by the Committee, the
Grantee must satisfy the continuing employment condition as set forth in Paragraphs 3 and 4 of the Agreement and the other terms and conditions set forth in the Agreement. 

 

	 	6.	 Any Performance Stock Units that become earned and vested shall be converted into an equivalent number of
shares of Company Stock and distributed to the Grantee on the applicable Distribution Date, within the time period set forth in Paragraph 5 of the Agreement. 

  
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