Document:

EX-10.5

 Exhibit 10.5 

CARS.COM 
 DEFERRED
COMPENSATION PLAN 

 CARS.COM 

DEFERRED COMPENSATION PLAN 

TABLE OF CONTENTS 

 

									
	 	  	 	  	 	  	PAGE	 
	 1.0
	  	BACKGROUND	  	 	1	 
		  	1.1.	  	Introduction	  	 	1	 
		  	1.2.	  	Certain Definitions	  	 	1	 
			
	 2.0
	  	EXPLANATION OF PLAN	  	 	2	 
		  	2.1.	  	Effective Date	  	 	2	 
		  	2.2.	  	Eligibility	  	 	2	 
		  	2.3.	  	Interest in the Plan; Deferred Compensation Account	  	 	2	 
		  	2.4.	  	Amount of Deferral	  	 	2	 
		  	2.5.	  	Time of Election of Deferral	  	 	2	 
		  	2.6.	  	Accounts and Investments	  	 	4	 
		  	2.7.	  	Participant’s Option to Reallocate Amounts	  	 	5	 
		  	2.8.	  	Reinvestment of Income	  	 	5	 
		  	2.9.	  	Payment of Deferred Compensation	  	 	6	 
		  	2.10.	  	Manner of Electing Deferral, Choosing Investments and Choosing Payment Options	  	 	9	 
		  	2.11.	  	Deferrals of Restricted Stock or Restricted Stock Units	  	 	10	 
			
	 3.0
	  	ADMINISTRATION OF THE PLAN	  	 	11	 
		  	3.1.	  	Statement of Account	  	 	11	 
		  	3.2.	  	Assignability	  	 	11	 
		  	3.3.	  	Business Days	  	 	11	 
		  	3.4.	  	Administration	  	 	11	 
		  	3.5.	  	Amendment	  	 	12	 
		  	3.6.	  	Liability	  	 	13	 
		  	3.7.	  	Change in Control	  	 	13	 
		  	3.8.	  	Claims	  	 	18	 
		  	3.9.	  	Successors	  	 	19	 
		  	3.10.	  	Governing Law	  	 	20	 

  
 TOC 

 CARS.COM 

DEFERRED COMPENSATION PLAN 
 1.0
    BACKGROUND 
  

	1.1.	Introduction 

 In 2017, TEGNA Inc. (the “Predecessor Company”) spun off
Cars.com Inc. (the “Company”) into a separate publicly traded company (the “Spin-off”). Certain participants in the TEGNA Inc. Deferred Compensation Plan (the “Predecessor Plan”)
had their benefits under the Predecessor Plan assumed by this Plan (the “Transferred Participants”) as specified in that certain Employee Matters Agreement by and between the Company and the Predecessor Company dated May
    , 2017 (the “Employee Matters Agreement”). The Company, and not the Predecessor Company, shall be solely responsible for paying such assumed benefits. The Employee Matters Agreement may be used as an aid in
interpreting the terms of the benefits hereunder. Notwithstanding any other provision of this Plan or the Predecessor Plan, no Participant shall be entitled to duplicate benefits under both such Plans with respect to the same period of service or
compensation. 
 The list of Transferred Participants is maintained by the Company. The benefits with respect to Transferred Participants
derived from the Predecessor Plan shall not be amended in a manner so as to subject them to additional tax under Section 409A of the Internal Revenue Code, and any amendment which would have such an effect shall be deemed void and ineffective. 

This Plan was adopted to provide the opportunity for directors of the Company who are not also employees (“Directors”) to defer
certain compensation. Directors may defer to future years all or part of their fees. The Committee may also allow Directors to defer such other forms of taxable income derived from the performance of services for the Company as may be designated by
the Committee and which may be deferred pursuant to such special terms and conditions as the Committee may establish (including, without limitation, awards under long-term incentive and stock-based plans). Amounts that may be deferred under this
Plan are collectively referred to as “Compensation”. 
  

	1.2.	Certain Definitions 

 The term “SIRs” (Stock Incentive Rights) used in this
Plan includes restricted stock awards, restricted stock units and other equity-based awards issued under equity-based compensation plans of the Company or the Predecessor Company. The term “Committee” used in this Plan means the Benefit
Plans Committee of the Company. The term “Company” means the Company as defined above in Section 1.1 and any successor to its business and/or assets which assumes the Plan by operation of law or otherwise. The term “Board”
means the Board of Directors of the Company. 

 2.0     EXPLANATION OF PLAN 

 

	2.1.	Effective Date 

 The Effective Date of this Plan is May     , 2017.
The Predecessor Plan was initially effective July 1, 1987. The Company intends that the Plan satisfies the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) to avoid the imposition of the taxes
imposed under Section 409A. Accordingly, the requirements of Code Section 409A and the regulations and guidance issued thereunder (collectively, “Section 409A”) are incorporated by reference to the extent necessary to avoid any tax being
imposed on a Participant under Section 409A. The terms of this Plan can apply to amounts that are subject to Section 409A. 
 For a
Participant who is employed immediately following the Effective Date by the Company or an affiliate, such Participant’s service with the Predecessor Company or any of its subsidiaries or predecessor entities at or before the Effective Date
shall be recognized to the same extent that such service was recognized by the Predecessor Company under the Predecessor Plan prior to the Effective Date. 
  

	2.2.	Eligibility 

 In addition to Transferred Participants, the Plan is available to Directors
of the Company who are designated as eligible by the Committee. 
  

	2.3.	Interest in the Plan; Deferred Compensation Account 

 For each eligible person who elects
to defer Compensation or on behalf of whom the Company makes an award (“Participant”), one or more Deferred Compensation Accounts shall be established in accordance with Section 2.6(a). A Participant’s interest in the Plan shall be
the Participant’s right to receive payments under the terms of the Plan. A Participant’s payments from the Plan shall be based upon the value attributable to the Participant’s Deferred Compensation Accounts. 

 

	2.4.	Amount of Deferral 

 A Participant may elect to defer receipt of all or a part of his or
her Compensation provided that the minimum deferral for any type of Compensation that is expected to be deferred must be $5,000 for the year of deferral or, in the case of deferred SIRs, such minimum number of shares as the Committee may determine.

  

	2.5.	Time of Election of Deferral 

  

	 	(a)	 Deferral elections are subject to the requirements of Section 409A and must be made at such time and pursuant to
such terms and conditions as are established by the Committee. This means that, other than for the special circumstances set forth below (each of which is subject to the requirements of Section 409A), all elections to defer Compensation must be made
before the last day of the calendar 

  
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year preceding the calendar year in which the services giving rise to the compensation are performed. 

  

	 	(i)	In the year that a Director first becomes eligible to make elective deferrals under the Plan (or any elective deferral plan aggregated with this Plan under Section 409A), the Director may be permitted to make a deferral
election within 30 days of first becoming eligible. This initial deferral may relate only to Compensation attributable to services to be performed following the deferral election. 

 

	 	(ii)	If a Director has a legally binding right to a payment in a subsequent year that is subject to a condition requiring the Director to continue to provide services for a period of at least 12 months from the date the
Director obtains the legally binding right, to avoid forfeiture of the payment, the Director may be permitted to elect to defer such Compensation on or before the 30th day after the Director obtains the legally binding right to the Compensation,
provided that the election is made at least 12 months in advance of the earliest date at which the forfeiture condition could lapse. 

  

	 	(iii)	If a Director has a legally binding right to a payment of Compensation in a subsequent taxable year that, absent a deferral election, would be treated as a short-term deferral within the meaning of Section 409A, the
Director may be permitted to elect to defer such Compensation in accordance with the requirements of Section 1.409A-2(b), applied as if the amount were a deferral of compensation and the scheduled payment date
for the amount were the date the substantial risk of forfeiture lapses. 

  

	 	(b)	In the case of Director’s fees, whether payable in cash, Restricted Stock, or any other form permitted to be deferred under the Plan, deferral elections under the Plan shall relate to
one-year terms (each, a “Term”) beginning with each annual meeting of shareholders of the Company (“Annual Meeting”) and ending immediately prior to the next Annual Meeting. Deferral
elections shall be made no later than the date specified by the Committee that is on or prior to the last day of the calendar year preceding the commencement of the applicable Term. The foregoing election requirements shall be subject to the rules
set forth in Section 2.5(a) above. 

  

	 	(c)	Once made, an election to defer for a particular time period is irrevocable. No acceleration in a Payment Commencement Date or a change in a Method of Payment may be made except as expressly permitted by the Plan and
Section 409A. 

  

	 	(d)	Notwithstanding any other provision hereof, for purposes of the year 2017 only, elections by a Transferred Participant under the Predecessor Plan shall apply to determine deferrals hereunder. 

  
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	2.6.	Accounts and Investments 

  

	 	(a)	All Participant records, reports and elections shall be maintained and administered on the basis of the Participant’s Deferred Compensation Accounts which are determined based on the Payment Commencement Dates (as
defined in Section 2.9(b)) and Method of Payments (as defined in Section 2.9(c)) elected by the Participant, i.e., all amounts that have been elected to be paid on a designated Payment Commencement Date under a designated Method of Payment shall be
aggregated into a single Deferred Compensation Account for a Participant for purposes of subsequent recordkeeping and for elections that may be available with respect to the deferred amounts, such as investment elections and payment method
elections. The maximum number of Deferred Compensation Accounts a Participant may have at any time is five, subject to the Committee’s right to increase such limit. Deferred Compensation Accounts are hypothetical accounts only; no actual
accounts are established for individual Participants. Except as provided in subsection 2.9(e), the payout rules for a Deferred Compensation Account may not be changed after the rules for that Account have been established. 

 

	 	(b)	The amount of Compensation deferred will be credited to the Participant’s Deferred Compensation Account or Accounts as soon as practicable after the Compensation would have been paid had there been no election to
defer. 

 The amounts credited in a Deferred Compensation Account will be deemed invested in the fund or funds designated by
the Participant from among funds selected by the Committee, which may include the following or any combination of the following: 
  

	 	(i)	money market funds; 

  

	 	(ii)	bond funds; 

  

	 	(iii)	equity funds; and 

  

	 	(iv)	the Company stock fund. 

 Although the Plan is not subject to section 404(c) of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”), the funds available to Participants under the Plan shall, at all times, constitute a broad range of investment alternatives that would meet the standards pertaining to the range
of investments set forth in regulations promulgated by the Department of Labor under section 404(c) of ERISA, or any successor provision, as if that provision were applicable to the Plan. In the discretion of the Committee, funds may be added,
deleted or substituted from time to time, subject to the preceding sentence. 
 Information on the specific funds permitted under the Plan
shall be made available by the Committee to the Participants. If the Committee adds, deletes or substitutes a particular fund, the Committee shall notify Participants in advance of 

  
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the change and provide Participants with the opportunity to change their allocations among funds in connection with such addition, deletion or substitution. 

A Participant may allocate contributions to his or her Deferred Compensation Accounts among the available funds pursuant to such procedures and
requirements as may be specified by the Committee from time to time. Participants shall have the opportunity to give investment directions with respect to their Accounts at least once in any three-month period. 

With respect to the Company stock fund, the accounts of Transferred Participants only shall also have deemed investments in shares of
Predecessor Company stock as a consequence of the Spin-off and a hypothetical fund will be established for such stock. Notwithstanding any provision to the contrary, Participants may elect in a manner
prescribed by the Committee to allocate out of such Predecessor Company stock fund but shall not be able to allocate any additional amounts to the Predecessor Company stock fund. 

 

	 	(c)	Unless otherwise specified in an agreement memorializing a particular award or as otherwise specified under the Plan, all deferrals under this Plan and the earnings credited to them are fully vested at all times.

  

	 	(d)	The right of any Participant to receive future payments under the provisions of the Plan shall be a contractual obligation of the Company but shall be subject to the claims of the creditors of the Company in the event
of the Company’s insolvency or bankruptcy as provided in the trust agreement described below. 

 Plan assets may, in the
Company’s discretion, be placed in a trust (the “Rabbi Trust”) (which Rabbi Trust may be a sub-trust maintained as a separate account within a larger trust that is also used to pay benefits
under other Company- sponsored unfunded nonqualified plans) but will nevertheless continue to be subject to the claims of the Company’s creditors in the event of the Company’s insolvency or bankruptcy as provided in the trust agreement. In
any event, the Plan is intended to be unfunded under Title I of ERISA. 
  

	2.7.	Participant’s Option to Reallocate Amounts 

 A Participant may elect to reallocate
amounts in his or her Deferred Compensation Accounts among the available funds pursuant to such procedures and requirements as may be specified by the Committee from time to time consistent with Section 2.6(b). 

 

	2.8.	Reinvestment of Income 

 Income from a hypothetical fund investment in a Deferred
Compensation Account shall be deemed to be reinvested in that fund as soon as practicable under the terms of that fund. Notwithstanding the foregoing, deemed dividends relating to hypothetical Predecessor Company stock in the hypothetical
Predecessor Company stock fund will not be deemed reinvested in Predecessor Company stock. Instead, such deemed dividends 

  
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will be hypothetically invested proportionately in the investment funds selected by the Participant in his most recent investment direction, or, in the absence of an explicit investment
direction, in the default investment fund. 
  

	2.9.	Payment of Deferred Compensation 

  

	 	(a)	No withdrawal may be made from the Participant’s Deferred Compensation Accounts except as provided in this Section. 

  

	 	(b)	At the time a deferral election is made, the Participant shall choose the date on which payment of the amount credited to the Deferred Compensation Account is to commence, which date shall be either April 1 or
October 1 of the year of the Participant’s retirement, the year next following the Participant’s retirement, or any other year specified by the Participant that is after the year for which the Participant is making the deferral
(“Payment Commencement Date”). Notwithstanding the foregoing, the Payment Commencement Date shall be no later than October 1 of the year after the Participant retires from the Board. 

 

	 	(c)	At the time the election to defer is made, the Participant may choose to receive payments either (i) in a lump sum; or (ii) if the Payment Commencement Date is during a year in which a Participant has attained
at least age 55 and has at least 5 years of service, in up to fifteen annual installments. The method of paying a Deferred Compensation Account is the “Method of Payment.” The amount of any payment under the Plan shall be the value
attributable to the Deferred Compensation Account on the last day of the month preceding the month of the payment date, divided by the number of payments remaining to be made, including the payment for which the amount is being determined.

 Under rules prescribed by the Committee, at the time the election to defer is made, a Participant may elect to allocate a
portion of the Participant’s deferral elections to pre-existing Deferred Compensation Accounts and/or a new Deferred Compensation Account established for such deferral. Notwithstanding the foregoing, the
maximum number of Deferred Compensation Accounts a Participant may have at any time is five, subject to the Committee’s right to increase such limit. Except as provided in subsection (e), the payout rules for a Deferred Compensation Account may
not be changed after the rules for that Account have been established 
  

	 	(d)	 In the event of a Participant’s death or Disability before the Participant has received any payments from a
Deferred Compensation Account, the value of the Account shall be paid to the Participant’s designated beneficiary in the case of death or to the Participant in the case of Disability, at such time and in such form of payment as is set forth on
the applicable deferral form signed by the Participant. In the event of the Participant’s death or Disability after installment payments from a Deferred Compensation Account have commenced, the remaining balance of the Account shall be paid to
the Participant or designated beneficiary, as applicable, over the installments remaining to be paid. For 

  
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purposes of this Plan and consistent with such term’s definition under Section 409A, “Disability” means the Participant is unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. 

Beneficiary designations shall be submitted on the form specified by the Company. A Participant may only have a single beneficiary designation
that will apply to all of his/her Deferred Compensation Accounts, and the filing of a new beneficiary designation shall automatically revoke any previous beneficiary designation for all of the Participant’s Deferred Compensation Accounts. In
the event a beneficiary designation has not been made, or the beneficiary was not properly designated (in the sole discretion of the Company), has died or cannot be found, all payments after death shall be paid to the Participant’s estate. In
case of disputes over the proper beneficiary, the Company reserves the right to make any or all payments to the Participant’s estate. 
  

	 	(e)	A Participant may not change an initial Payment Commencement Date or Method of Payment for a Deferred Compensation Account after an election has been made except as provided in the following sentence. If an active
Participant specifies a particular year as a Payment Commencement Date (rather than retirement) and such date is a date when the Participant is less than age 60, the Participant may elect to select a new Method of Payment or Payment Commencement
Date by delivering a written election to the Committee (a “Subsequent Election”); provided that (i) such Subsequent Election may not take effect until at least 12 months after the date on which the Subsequent Election is made,
(ii) the payment with respect to which such Subsequent Election is made must be deferred for a period of not less than 5 years from the date such payment would otherwise have been made; and (iii) the election must be made not less than 12
months before the date the payment is scheduled to be paid (or in the case of installment payments 12 months before the date the first amount was scheduled to be paid). 

A technical note — if a Participant has elected the year of retirement as the Payment Commencement Date but retires on a date that is
after the designated Payment Commencement Date, the payment (or the first annual installment) will begin on the first day of the month after the month in which the Participant retires. 

Restrictions on changing Payment Commencement Dates and Methods of Payment shall not prevent the Participant from choosing a different Payment
Commencement Date and/or Method of Payment for amounts to be deferred in subsequent years, subject to the limitation on the number of Deferred Compensation Accounts a Participant may have. 

 

	 	(f)	Notwithstanding any Payment Commencement Date or Method of Payment selected by a Participant, the following rule shall apply: 

  
 7 

	 	(i)	If a Participant’s directorship terminates for any reason other than (1) at or after reaching age 70 for outside Directors and age 65 for Directors who were former Company executives, (2) by reason of
such Participant’s death, or (3) by reason of such Participant’s Disability, the Committee shall distribute such Director Participant’s benefits in the form of a lump sum, as soon as administratively practicable following the
Participant’s termination of service (but not later than 60 days after such termination). 

  

	 	(g)	If, in the discretion of the Committee and subject to the requirements of Section 409A, the Participant has a need for funds due to an “unforeseeable emergency”, benefits may be paid prior to the
Participant’s Payment Commencement Date. For this purpose, an “unforeseeable emergency” means a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant’s spouse, or a
dependent (as defined in section 152(a) of the Code) of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the
Participant. Distributions under this subsection may only be made if, consistent with Section 409A, the amounts distributed with respect to the emergency do not exceed the amounts necessary to satisfy such emergency plus amounts necessary to pay
taxes reasonably anticipated as a result of the distribution, after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the
Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship). The Participant requesting a payment under this subsection must supply the Committee with a statement indicating the nature of
the emergency that created the severe financial hardship, the fact that all other reasonably available resources are insufficient to meet the need, and any other information which the Committee decides is necessary to evaluate whether an
unforeseeable emergency exists. 

  

	 	(h)	In the Company’s discretion, payments from the Plan may be made in cash or in the kind of property represented by the fund or funds selected by the Participant. Notwithstanding the foregoing or any other provision
of this Plan, any portion of a Participant’s Deferred Compensation Account deemed invested in shares of Predecessor Company may only be settled in cash. 

  

	 	(i)	All contributions to the Plan and all payments from the Plan, whether made by the Company or the Trustee, shall be subject to all taxes required to be withheld under applicable laws and regulations of any governmental
authorities. 

  

	 	(j)	 Notwithstanding any provision to the contrary, a distribution triggered by a specified employee’s separation
from service (for any reason other than death) may not commence before the date which is 6 months after the date of the specified employee’s separation from service (or if, earlier, the employee’s death). For purposes of the Plan, a
“specified employee” has the meaning set forth in Section 409A. If this provision is triggered, any amount that would otherwise have been paid during such 6 month period shall be paid on the date

  
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that is the first day of the seventh month after such employee’s separation from service (or if, earlier, the employee’s death). For purposes of this Plan, the date when a Participant
is deemed to be separated from service, retired, or terminated shall be determined consistent with the requirements of Section 409A. 

  

	 	(k)	Notwithstanding the foregoing, the Committee, in its sole discretion, may accelerate the time or schedule of a payment, or a payment may be made under the Plan, to pay the Federal Insurance Contributions Act
(“FICA”) tax imposed under Code sections 3101, 3121(a), and 3121(v)(2) on compensation deferred under the plan (the “FICA Amount”). Additionally, the Committee may provide for the acceleration of the time or schedule of a
payment, or a payment may be made under the Plan, to pay the income tax at source on wages imposed under section 3401 or the corresponding withholding provisions of applicable state, local, or foreign tax laws as a result of the payment of the FICA
Amount, and to pay the additional income tax at source on wages attributable to the pyramiding section 3401 wages and taxes. However, the total payment under this acceleration provision must not exceed the aggregate of the FICA Amount, and the
income tax withholding related to such FICA Amount. 

  

	2.10.	Manner of Electing Deferral, Choosing Investments and Choosing Payment Options 

  

	 	(a)	In order to make any elections or choices permitted hereunder, the Participant must give written or electronic notice to the Committee. A notice electing to defer Compensation shall specify: 

 

	 	(i)	the percentage, specified dollar amount, and/or amount above a specified dollar amount that is to be deferred (provided that the deferral is expected to be an amount that is a least $5,000 for the year);

  

	 	(ii)	the type of Compensation to be deferred; 

  

	 	(iii)	the funds chosen by the Participant; and 

  

	 	(iv)	the portion of the Participant’s deferral elections that will be made to pre-existing Deferred Compensation Accounts and/or a new Deferred Compensation Account established
for such deferral. 

 In the event that a new Deferred Compensation Account is established for such deferral, the Participant
must designate the payout rules that will apply to such Deferred Compensation Account, e.g., the Method of Payment and the Payment Commencement Date, including rules for payment in the event of the Participant’s Disability or death. Each
Deferred Compensation Account shall have Section 409A compliant payout rules specifying the Method of Payment and the Payment Commencement Date, including rules for payment in the event of the Participant’s Disability or death. Once
established, such payout rules may not be changed except as provided in Section 2.9(e). 

  
 9 

	 	(b)	Subject to the requirements of Section 409A, the Committee, in its sole discretion, may establish rules for the manner in which deferral elections may be made and will provide election forms to permit Participants to
defer Compensation to be earned during a calendar year. An election by a Participant to defer Compensation shall apply only to Compensation deferred in the calendar year for which the election is effective. 

 

	 	(c)	The last form received by the Committee directing an allocation of amounts in a Deferred Compensation Account among the funds available shall govern until changed by the receipt by the Committee of a subsequent
allocation form. 

  

	 	(d)	Notwithstanding any provision in the Plan to the contrary, the Committee may permit elections, designations and allocations to be made through electronic means, and Plan statements and communications may be provided
through electronic means. 

  

	2.11.	Deferrals of Restricted Stock or Restricted Stock Units 

 A Director whose fees for a
Term may be paid in the form of Restricted Stock or Restricted Stock Units may elect to defer such Restricted Stock or Restricted Stock Units in accordance with such guidelines and restrictions as may be established by the Committee and in
accordance with the general terms of this Plan and Section 409A, subject to the following, which shall supersede any provision in the Plan to the contrary with respect to such deferrals: 

 

	 	(a)	An election to defer Restricted Stock or Restricted Stock Units must be made in accordance with Section 2.5 of the Plan and Section 409A. The deferral election may be made for all or a portion of the Restricted
Stock or Restricted Stock Units that would have otherwise been awarded. 

  

	 	(b)	An election to defer Restricted Stock or Restricted Stock Units shall constitute a direction by the Director to have the Company, in lieu of currently issuing shares of Restricted Stock or an award of Restricted Stock
Units, defer under this Plan an amount equal to the value of the Restricted Stock or Restricted Stock Units, subject to the election as determined at the time of the award. The Restricted Stock or Restricted Stock Units deferred by a Director under
this Plan for a Term shall be credited as units of stock to a separate sub-account within the Director’s Deferred Compensation Account. The vesting rules that would have applied to the Restricted Stock or
Restricted Stock Unit award that was deferred under the Plan shall apply to the sub-account attributable to such award. 

  

	 	(c)	Subject to the rules applicable to Predecessor Company stock, Restricted Stock or Restricted Stock Units deferred under the Plan shall be deemed invested in the Company stock fund during the entire deferral period and
the Director shall not have the right to reallocate such deemed investment to any of the other investment options otherwise available under the Plan. 

  

	 	(d)	 At the time an election to defer Restricted Stock or Restricted Stock Units is

  
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made, the Director shall elect the time and form of payment of such deferral and earnings thereon in accordance with Section 2.9 of the Plan. Subject to the rules applicable to Predecessor
Company stock, payments shall be made in shares of Company common stock. 

  

	 	(e)	Any portion of a Director’s Deferred Compensation Account attributable to deferred Restricted Stock or Restricted Stock Units, whether or not vested, shall not be available for early withdrawal under Section 2.9(g)
of the Plan. 

 3.0     ADMINISTRATION OF THE PLAN 

 

	3.1.	Statement of Account 

 Statements setting forth the values of the funds deemed to be held
in a Participant’s Deferred Compensation Accounts will be sent to each Participant quarterly or more often as the Committee may elect. A Participant shall have two years from the date a statement has been sent to question the accuracy of the
statement. If no objection is made to the statement, it shall be deemed to be accurate and thereafter binding on the Participant for all purposes. 
  

	3.2.	Assignability 

 The benefits payable under this Plan shall not revert to the Company or
be subject to the Company’s creditors prior to the Company’s insolvency or bankruptcy, nor, except pursuant to will or the laws of descent and distribution, shall they be subject in any way to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, charge, garnishment, execution or levy of any kind by the Participant, the Participant’s beneficiary or the creditors of either, including such liability as may arise from the Participant’s bankruptcy. 

 

	3.3.	Business Days 

 In the event any date specified herein falls on a Saturday, Sunday, or
legal holiday, such date shall be deemed to refer to the next business day thereafter or such other date as may be determined by the Committee in the reasonable exercise of its discretion. 

 

	3.4.	Administration 

 This Plan shall be administered by the Committee. The Committee has sole
discretion to interpret the Plan and to determine all questions arising in the administration, interpretation, and application of the Plan. The Committee’s powers include the power, in its sole discretion and consistent with the terms of the
Plan, to determine who is eligible to participate in this Plan, to determine the eligibility for and the amount of benefits payable under the Plan, to determine when and how amounts are allocated to a Participant’s Deferred Compensation
Account, to establish rules for determining when and how elections can be made, to adopt any rules relating to administering the Plan and to take any other action it deems appropriate to administer the Plan. The Committee may delegate its authority
hereunder to one or more persons. Whenever the value of a 

  
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Deferred Compensation Account is to be determined under this Plan as of a particular date, the Committee may determine such value using any method that is reasonable, in its discretion. Whenever
payments are to be made under this Plan, such payments shall begin on or within a reasonable period of time after the designated date, as determined by the Committee and subject to the limitations under Section 409A, and no interest shall be paid on
such amounts for any reasonable delay in making the payments. 
 This Plan is intended to comply with the requirements of Section 409A, and
shall be interpreted and administered in accordance with that intent. If any provision of the Plan would otherwise conflict with or frustrate this intent, that provision will be interpreted and deemed amended so as to avoid the conflict. Any
reference in this Plan to “separation from service”, “retirement”, “cessation of employment”, “termination of employment”, “termination of employment with the Company”, “directorship
termination”, “retirement from the Board”, “Director leaves the Board”, “cessation of employment with the Company or any Participating Affiliate” or similar term shall mean a “separation from service”
within the meaning of Section 409A. 
  

	3.5.	Amendment 

  

	 	(a)	Subject to the requirements of Section 409A, this Plan may at any time and from time to time be amended or terminated by the Board or the Compensation Committee of the Board. No amendment shall, without the consent of a
Participant, adversely affect such Participant’s interest in the Plan, i.e., the Participant’s benefit accrued to the effective date of the amendment (hereinafter referred to as the “Protected Interest”), as determined by the
Committee in its sole discretion. 

  

	 	(b)	An amendment shall be considered to adversely affect a Participant’s interest in the Plan if it has the effect of: 

  

	 	(i)	reducing the Participant’s Protected Interest in his or her Deferred Compensation Accounts; 

  

	 	(ii)	eliminating or restricting a Participant’s right to give investment directions with respect to the Participant’s Protected Interest in his or her Deferred Compensation Accounts under Sections 2.6 and 2.7 of
the Plan, except that a change in the number or type of funds available shall not be considered an amendment of the Plan as long as the funds available to Participants following such change constitute a broad range of investment alternatives under
the standards pertaining to the range of investments set forth in regulations promulgated by the Department of Labor under section 404(c) of ERISA or any successor provision; 

 

	 	(iii)	eliminating or restricting any timing or payment option available with respect to the Participant’s Protected Interest in his or her Deferred Compensation Accounts, or the Participant’s right to make and
change payment elections with respect to such Protected Interest, under Section 2.9, 2.10 or any other provision of the Plan; 

  
 12 

	 	(iv)	reducing or diminishing any of the change in control protections provided to the Participant under Section 3.7 or any other provision of the Plan; or 

 

	 	(v)	reducing or diminishing the rights of the Participant under this Section 3.5 with respect to any amendment or termination of the Plan. 

 

	 	(c)	Notwithstanding anything in the foregoing to the contrary, any amendment made for the purpose of protecting the favorable tax treatment of amounts deferred under the Plan following a change in applicable law, including
for this purpose a change in statute, regulation or other agency guidance, shall not be considered to adversely affect a Participant’s interest in the Plan. 

  

	 	(d)	If the Plan is terminated and if permitted by Section 409A, compensation shall prospectively cease to be deferred as of the date of the termination. To the extent permitted by Section 409A, each Participant will be paid
the value of his or her Deferred Compensation Accounts, including earnings credited through the payment date based on the Participant’s investment allocations, at the time and in the manner provided for in Sections 2.9 and 2.10.

  

	3.6.	Liability 

  

	 	(a)	Except in the case of willful misconduct, no Director or employee of the Company, or person acting as the independent fiduciary provided for in Section 3.7, shall be personally liable for any act done or omitted to
be done by such person with respect to this Plan. 

  

	 	(b)	The Company shall indemnify, to the fullest extent permitted by law, members of the Committee, persons acting as the independent fiduciary and Directors and employees of the Company, both past and present, to whom are
or were delegated duties, responsibilities and authority with respect to the Plan, against any and all claims, losses, liabilities, fines, penalties and expenses (including, but not limited to, all legal fees relating thereto), reasonably incurred
by or imposed upon such persons, arising out of any act or omission in connection with the operation and administration of the Plan, other than willful misconduct. 

 

	3.7.	Change in Control 

  

	 	(a)	Participation. If a change in control occurs, each eligible person who is participating in the Plan on the date of the change in control shall be entitled to continue participating in the Plan and to make
additional deferrals under its terms following the change in control, until he or she ceases to meet the criteria for an “eligible person” specified in Section 2.2 hereof (without regard to designation by the Committee) or the Plan is
terminated pursuant to Section 3.5. No new persons may be designated as eligible to participate in the Plan on or after a change in control. 

  
 13 

	 	(b)	Legal Expense. If, with respect to any alleged failure by the Company to comply with any of the terms of this Plan subsequent to a change in control, other than any alleged failure relating to a matter within the
control of the independent fiduciary and with respect to which the Company is acting pursuant to a determination or direction of the independent fiduciary, a Participant or beneficiary hires legal counsel or institutes any negotiations or institutes
or responds to legal action to assert or defend the validity of, enforce his rights under, obtain benefits promised under or recover damages for breach of the terms of this Plan, then, regardless of the outcome, the Company shall pay, as they are
incurred, a Participant’s or beneficiary’s actual expenses for attorneys’ fees and disbursements, together with such additional payments, if any, as may be necessary so that the net after-tax
payments to the Participant or beneficiary equal such fees and disbursements. The Company agrees to pay such amounts within 10 days following the Company’s receipt of an invoice from the Participant, provided that the Participant shall have
submitted an invoice for such amounts at least 30 days before the end of the calendar year next following the calendar year in which such fees and disbursements were incurred. 

 

	 	(c)	Mandatory Contributions to Rabbi Trust. If a change in control occurs, the Company shall make mandatory contributions to a Rabbi Trust established pursuant to Section 2.6(d), to the extent required by the
provisions of such Rabbi Trust. 

  

	 	(d)	Powers of Independent Fiduciary. Following a change in control, the Plan shall be administered by the independent fiduciary. The independent fiduciary shall assume the following powers and responsibilities from
the Committee and the Company: 

  

	 	(i)	The independent fiduciary shall assume all powers and responsibilities assigned to the Committee under Section 3.4 and all other provisions of the Plan, including, without limitation, the sole power and discretion
to: 

  

	 	(1)	determine all questions arising in the administration and interpretation of the Plan, including factual questions and questions of eligibility to participate and eligibility for benefits; 

 

	 	(2)	adjudicate disputes and claims for benefits; 

  

	 	(3)	adopt rules relating to the administration of the Plan; 

  

	 	(4)	select the investment funds available to Participants under Section 2.6 of the Plan (subject to the requirement that, at all times, such funds constitute a broad range of investment alternatives under the standards
pertaining to the range of investments set forth in regulations promulgated by the Department of Labor under section 404(c) of ERISA or any successor provision); 

  

	 	(5)	determine the amount, timing and form of benefit payments; 

  
 14 

	 	(6)	direct the Company and the trustee of the Rabbi Trust on matters relating to benefit payments; 

  

	 	(7)	engage attorneys, accountants, actuaries and other professional advisors (whose fees shall be paid by the Company), to assist it in performing its responsibilities under the Plan; and 

 

	 	(8)	delegate to one or more persons selected by it, including outside vendors, responsibility for fulfilling some or all of its responsibilities under the Plan. 

 

	 	(ii)	The independent fiduciary shall have the sole power and discretion to (1) direct the investment of assets held in the Rabbi Trust, including the authority to appoint one or more investment managers to manage any
such assets and (2) remove the trustee of the Rabbi Trust and appoint a successor trustee in accordance with the terms of the trust agreement. 

  

	 	(e)	Review of Decisions. 

  

	 	(i)	Notwithstanding any provision in the Plan to the contrary, following a change in control, any act, determination or decision of the Company (including its Board or any committee of its Board) with regard to the
administration, interpretation and application of the Plan must be reasonable, as viewed from the perspective of an unrelated party and with no deference paid to the actual act, determination or decision of the Company. Furthermore, following a
change in control, any decision by the Company shall not be final and binding on a Participant. Instead, following a change in control, if a Participant disputes a decision of the Company relating to the Plan and pursues legal action, the court
shall review the decision under a “de novo” standard of review. 

  

	 	(ii)	Following a change in control, any act, determination or decision of the independent fiduciary with regard to the administration, interpretation and application of the Plan shall be final, binding, and conclusive on all
parties. 

  

	 	(f)	Company’s Duty to Cooperate. Following a change in control, the Company shall cooperate with the independent fiduciary as may be necessary to enable the independent fiduciary to carry out its powers and
responsibilities under the Plan and Rabbi Trust, including, without limitation, by promptly furnishing all information relating to Participants’ benefits as the independent fiduciary may reasonably request. 

 

	 	(g)	Appointment of Independent Fiduciary. The independent fiduciary responsible for the administration of the Plan following a change in control shall be a committee composed of the individuals who constituted the
Company’s Benefit Plans Committee immediately prior to the change in control and the Company’s chief executive officer immediately prior to the change in control. 

  
 15 

 If, following a change in control, any individual serving on such committee resigns, dies or
becomes disabled, the remaining members of the committee shall continue to serve as the committee without interruption. A successor member shall be required only if there are less than three remaining members on the committee. If a successor member
is required, the successor shall be an individual appointed by the remaining member or members of the committee who (i) is eligible to be paid benefits from the assets of the Rabbi Trust or the larger trust of which it is a part and
(ii) agrees to serve on such committee. 
 If at any time there are no remaining members on the committee (including any successor
members appointed to the committee following the change in control), the Trustee shall promptly submit the appointment of the successor members to an arbiter, the costs of which shall be borne fully by the Company, to be decided in accordance with
the American Arbitration Association Commercial Arbitration Rules then in effect. The arbiter shall appoint three successor members to the committee who each meet the criteria for membership set forth above. Following such appointments by the
arbiter, such successor members shall appoint any future successor members to the committee to the extent required above (i.e., if, at any time, there are less than three remaining members on the committee) and subject to the criteria set forth
above. 
 If one or more successor members are required and there are no individuals remaining who satisfy the criteria for membership on the
committee, the remaining committee members or, if none, the Trustee shall promptly submit the appointment of the successor member or members to an arbiter, and the Company shall bear the costs of arbitration as provided for in the preceding
paragraph. 
  

	 	(h)	Change in Control Definition. As used in this Plan, a “change in control” means the first to occur of the following: 

 

	 	(i)	The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 (the “Exchange Act”)) (a “Person”) of beneficial
ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (1) the then-outstanding shares of common stock of the Company (the “Outstanding Company
Common Stock”) or (2) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however,
that, for purposes of this Section, the following acquisitions shall not constitute a change in control: (A) any acquisition directly from the Company, (B) any acquisition by the Company, (C) any acquisition by any employee benefit
plan (or related trust) sponsored or maintained by the Company or one of its affiliates or (D) any acquisition pursuant to a transaction that complies with clauses (1), (2) and (3) of Section 3.7(h)(iii) below; 

  
 16 

	 	(ii)	Individuals who constitute the Board of Directors of the Company as of the Effective Date (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that
any individual becoming a director subsequent to such date whose election or nomination for election by the Company’s stockholders was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be
considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the
election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; 

  

	 	(iii)	Consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially
all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries (each, a “Business Combination”), in each case, unless, following such Business Combination, (1) all
or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or
indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting power of the then- outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation or
entity resulting from such Business Combination (including, without limitation, a corporation or entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one
or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (2) no
Person (excluding any employee benefit plan (or related trust) of the Company or any corporation or entity resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then-outstanding shares
of common stock of the corporation or entity resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation or entity, except to the extent that such ownership existed prior to the
Business Combination, and (3) at least a majority of the members of the board of directors of the corporation or entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial
agreement or of the action of the Board providing for such Business Combination; or 

  
 17 

	 	(iv)	Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

Notwithstanding the foregoing, in no event will the Spin-off be treated as a Change in Control. 

 

	 	(i)	Lump Sum Payment. Upon a change in control, the amounts credited in the Deferred Compensation Accounts of each Participant (including retired, active and inactive Participants), whether or not in pay status as of
the date of the Change in Control, shall be paid within 45 days after the Change in Control. 

 For purposes of this
Section 3.7(i), a change in control means a change in control that is also a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company within the meaning of Code
Section 409A(a)(2)(A)(v) and the Treasury regulations issued thereunder. 
  

	3.8.	Claims 

  

	 	(a)	Claim Denials. The Committee shall maintain procedures with respect to the filing of claims for benefits under the Plan. Pursuant to such procedures, any Participant or beneficiary (hereinafter called
“claimant”) whose claim for benefits under the Plan is denied shall receive written notice of such denial. The notice shall set forth: 

  

	 	(i)	the specific reasons for the denial of the claim; 

  

	 	(ii)	a reference to the specific provisions of the Plan on which the denial is based; 

  

	 	(iii)	any additional material or information necessary to perfect the claim and an explanation why such material or information is necessary; and 

 

	 	(iv)	a description of the procedures for review of the denial of the claim and the time limits applicable to such procedures, including a statement of the claimant’s right to bring a civil action under ERISA following a
denial on review. 

 Such notice shall be furnished to the claimant within a reasonable period of time, but no later than 90
days after receipt of the claim by the Plan unless the Committee determines that special circumstances require an extension of time for processing the claim. In no event shall such an extension exceed a period of 90 days from the end of the initial 90-day period. If such an extension is required, written notice thereof shall be furnished to the claimant before the end of the initial 90-day period, which shall indicate
the special circumstances requiring an extension of time and the date by which the Committee expects to render a decision. 

  
 18 

	 	(b)	Right to a Review of the Denial. Every claimant whose claim for benefits under the Plan is denied in whole or in part by the Committee shall have the right to request a review of the denial. Review shall be
granted if it is requested in writing by the claimant no later than 60 days after the claimant receives written notice of the denial. The review shall be conducted by the Committee. 

 

	 	(c)	Decision of the Committee on Appeal. At any hearing of the Committee to review the denial of a claim, the claimant, in person or by duly authorized representative, shall have reasonable notice, shall have an
opportunity to be present and be heard, may submit written comments, documents, records and other information relating to the claim, and may review documents, records and other information relevant to the claim under the applicable standards under
ERISA. The Committee shall render its decision as soon as practicable. Ordinarily decisions shall be rendered within 60 days following receipt of the request for review. If the need to hold a hearing or other special circumstances requires
additional processing time, the decision shall be rendered as soon as possible, but not later than 120 days following receipt of the request for review. If additional processing time is required, the Committee shall provide the claimant with written
notice thereof, which shall indicate the special circumstances requiring the additional time and the date by which the Committee expects to render a decision. If the Committee denies the claim on review, it shall provide the claimant with written
notice of its decision, which shall set forth (i) the specific reasons for the decision, (ii) reference to the specific provisions of the Plan on which the decision is based, (iii) a statement of the claimant’s right to
reasonable access to, and copies of, all documents, records and other information relevant to the claim under the applicable standards under ERISA, and (iv) and a statement of the claimant’s right to bring a civil action under ERISA. The
Committee’s decision shall be final and binding on the claimant, and the claimant’s heirs, assigns, administrator, executor, and any other person claiming through the claimant. 

 

	 	(d)	Notwithstanding the foregoing, following a change in control, the independent fiduciary shall be responsible for deciding claims and appeals pursuant to the procedures described above. Any decision on a claim by the
independent fiduciary shall be final and binding on the claimant and the claimant’s heirs, assigns, administrator, executor and any other person claiming through the claimant. 

 

	3.9.	Successors 

 The Company will require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform the Plan in the same manner and to the same extent that the Company would be required to
perform it if no such succession had taken place. 

  
 19 

 3.10. Governing Law 

To the extent not preempted by federal law, all questions pertaining to the construction, regulation, validity and effect of the provisions of
the Plan shall be determined in accordance with the laws of the State of Delaware without regard to the conflict of laws principles thereof. 
  

					
	 Dated:
[                    ]
	 	     CARS.COM
INC.

					
			
		 	By:	 	 

					
		 	   Name:	 	
		 	   Title:	 	

  
 20EX-10.6

 Exhibit 10.6 

AWARD AGREEMENT 
 STOCK
UNITS 
 The Executive Compensation Committee of the TEGNA Inc. Board of Directors has approved an award of Restricted Stock Units
(referred to herein as “Stock Units”) to you under the TEGNA Inc. 2001 Omnibus Incentive Compensation Plan (Amended and Restated as of May 4, 2010), as amended, as set forth below. 

This Award Agreement and the enclosed Terms and Conditions effective as of January 1, 2017, constitute the formal agreement governing
this award. 
 Please sign both copies of this Award Agreement to evidence your agreement with the terms hereof. Keep one copy and return
the other to the undersigned. 
 Please keep the enclosed Terms and Conditions for future reference. 

 
  
  

					
	 Employee:            Alex
Vetter
	 	         Location:
	  	
			
	 Grant Date:          1/1/17
	 		  	
			
	 Stock Unit Commencement Date:        1/1/17
	 		  	
			
	 Stock Unit Expiration Date:       12/31/20
	 		  	

					
		
	 Stock Unit Vesting Schedule:
	 	 25% of the Stock Units shall vest on 12/31/17*

		 	 25% of the Stock Units shall vest on 12/31/18*

		 	 25% of the Stock Units shall vest on 12/31/19*

		 	 25% of the Stock Units shall vest on 12/31/20*

		
	 Payment Date:
	 	 25% of the Stock Units shall be paid on 1/2/18*

		 	 25% of the Stock Units shall be paid on 1/2/19*

		 	 25% of the Stock Units shall be paid on 1/2/20*

		 	 25% of the Stock Units shall be paid on 1/2/21*

  

	*	Provided the Employee is continuously employed until such vesting dates and has not terminated employment on or before such vesting dates. Such dates are hereinafter referred to as the “Vesting Date” or
“Payment Date” for the Stock Units that vest or are paid on such dates. 

 Number of Stock Units: 

 
  

							
		 		 	TEGNA Inc.
				
	 /s/ Alex Vetter
	 		 	By:	 	 /s/ Kevin E. Lord

	          Employee’s Signature	 		 		 	   Kevin E. Lord
		 		 		 	   Senior Vice President/Human Resources

 STOCK UNITS 

TERMS AND CONDITIONS 
 Under the

 TEGNA Inc. 
 2001 Omnibus
Incentive Compensation Plan (Amended and Restated as of May 4, 2010) 
 These Terms and Conditions, dated January 1, 2017, govern
the grant of Restricted Stock Units (referred to herein as “Stock Units”) to the employee (the “Employee”) designated in the Award Agreement dated coincident with these Terms and Conditions. The Stock Units are granted under, and
are subject to, the TEGNA Inc. (the “Company”) 2001 Omnibus Incentive Compensation Plan (Amended and Restated as of May 4, 2010), as amended (the “Plan”). Terms used herein that are defined in the Plan shall have the
meanings ascribed to them in the Plan. If there is any inconsistency between these Terms and Conditions and the terms of the Plan, the Plan’s terms shall supersede and replace the conflicting terms herein. 

1.    Grant of Stock Units. Pursuant to the provisions of (i) the Plan, (ii) the individual Award
Agreement governing the grant, and (iii) these Terms and Conditions, the Company has granted to the Employee the number of Stock Units set forth on the applicable Award Agreement. Each vested Stock Unit shall entitle the Employee to receive
from the Company one share of the Company’s common stock (“Common Stock”) upon the earliest of the Employee’s termination of employment, a Change in Control (but only to the extent provided in Section 14) or the Payment
Date, as defined below. The Employee shall not be entitled to receive any shares of Common Stock with respect to unvested Stock Units, and the Employee shall have no further rights with regard to a Stock Unit once the underlying share of Common
Stock has been delivered with respect to that Stock Unit. 
 2.    Payment Date. The Payment Date shall be the
dates specified in the Award Agreement with respect to the Stock Units that are vested on such date under the schedule set forth in the Award Agreement. 

  
 -2- 

 3.    Vesting Schedule. Subject to the special vesting rules set forth
in Sections 7, 14 and 16, the Stock Units shall vest in accordance with the Vesting Schedule specified in the Award Agreement to the extent that the Employee is continuously employed by the Company or its Subsidiaries until the Vesting Dates
specified in the Vesting Schedule and has not terminated employment on or before such dates. An Employee will not be treated as remaining in continuous employment if the Employee’s employer ceases to be a Subsidiary of the Company. 

4.    No Dividend Equivalents. No dividend equivalents shall be paid to the Employee with regard to the Stock
Units. 
 5.    Delivery of Shares. The Company shall deliver to the Employee a certificate or certificates, or
at the election of the Company make an appropriate book-entry, for the number of shares of Common Stock equal to the number of vested Stock Units as soon as administratively practicable (but always by the 30th day) after the earliest of the
Employee’s termination of employment, a Change in Control (but only to the extent provided in Section 14) or the Payment Date. The number of shares delivered shall be reduced by the value of all taxes withheld by reason of such delivery;
provided that the amount that is withheld, or may be withheld at the Employee’s discretion, cannot exceed the amount of the taxes owed by the Employee using the maximum statutory tax rate in the Employee’s applicable jurisdiction(s). The
Employee shall not be entitled to receive any shares of Common Stock with respect to unvested Stock Units, and the Employee shall have no further rights with regard to a Stock Unit once the underlying share of Common Stock has been delivered with
respect to that Stock Unit. 
 6.    Cancellation of Stock Units. 

(a)    Termination of Employment. Subject to Sections 7, 14 and 16, all Stock Units granted to the Employee that
have not vested as of the date of the Employee’s termination of employment shall automatically be cancelled upon the Employee’s termination of employment. Unvested Stock Units shall also be cancelled in connection with an event that
results in the Employee’s employer ceasing to be a Subsidiary of the Company. 

  
 -3- 

 (b)    Forfeiture of Stock Units/Recovery of Common Stock. Pursuant to
its recoupment policy, the Company may forfeit an Employee’s Stock Units or recover shares of Common Stock issued in connection with a Stock Unit. Generally, under the Company’s recoupment policy, if the Company is required to prepare an
accounting restatement due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, and the Committee determines that: 

(i)    the fraud or intentional misconduct of the Employee contributed (either directly or indirectly) to
the noncompliance that resulted in the obligation to restate the Company’s financial statements; and 

(ii)    a lower award of Stock Units would have been made to the Employee had it been based upon the
restated financial results; 
 then the Company may, to the extent permitted by applicable law, and subject to the approval of the Committee, forfeit Stock
Units awarded to the Employee or seek to recoup shares of Common Stock issued in connection with Stock Units in excess of the amount that would have been received under the accounting restatement. In each such instance, the Company may seek to
forfeit the Employee’s relevant Stock Units or seek to recover the relevant Common Stock issued in connection with a Stock Unit granted or issued during the three-year period preceding the date the Company is required to prepare the accounting
restatement, regardless of whether the Employee is then employed by the Company. In addition, the Company may assert any other remedies that may be available to the Company, including, without limitation, those available under Section 304 of
the Sarbanes-Oxley Act of 2002. 

  
 -4- 

 7.    Death, Disability, Retirement, Involuntary Termination without
Cause. In lieu of the Vesting Schedule set forth in the Award Agreement, in the event that the Employee’s employment terminates on or prior to the Stock Unit Expiration Date by reason of death, permanent disability (as determined under the
Company’s Long Term Disability Plan), termination of employment after attaining age 65, or termination of employment after both attaining age 55 and completing at least 5 years of service, the Employee (or in the case of the Employee’s
death, the Employee’s estate or designated beneficiary) shall become vested in a number of Stock Units equal to the product of (i) the total number of Stock Units in which the Employee would have become vested upon the Stock Unit
Expiration Date had the Employee’s employment not terminated, and (ii) a fraction, the numerator of which shall be the number of full calendar months between the Stock Unit Commencement Date and the date that employment terminated, and the
denominator of which shall be the number of full calendar months from the Stock Unit Commencement Date to the Stock Unit Expiration Date; provided such number of Stock Units so vested shall be reduced by the number of Stock Units that had previously
become vested. 
 In the event that the Employee is involuntarily terminated without cause prior to the Stock Unit Expiration Date under
circumstances that constitute a “qualifying termination” under the Cars.com Inc. Executive Severance Plan that is attached to the Employee’s offer letter dated November 2, 2016 (assuming the Employee participated in such plan),
the Employee will receive service credit and continue to vest in his Award for the eighteen (18) months period following the Employee’s termination of employment. To the extent that such service credit results in additional Stock Units
vesting, the Company shall deliver to the Employee a certificate or certificates, or at the election of the Company make an appropriate book-entry, for the number of shares of Common Stock equal to the number of vested Stock Units as soon as
administratively practicable (but always by the 30th day) after the Payment Date for such vested Stock Units, less applicable withholdings. 

  
 -5- 

 8.    Non-Assignability. Stock
Units may not be transferred, assigned, pledged or hypothecated, whether by operation of law or otherwise, nor may the Stock Units be made subject to execution, attachment or similar process. 

9.    Rights as a Shareholder. The Employee shall have no rights as a shareholder by reason of the Stock Units.

 10.    Discretionary Plan; Employment. The Plan is discretionary in nature and may be suspended or terminated
by the Company at any time. With respect to the Plan, (a) each grant of Stock Units is a one-time benefit which does not create any contractual or other right to receive future grants of Stock Units, or
benefits in lieu of Stock Units; (b) all determinations with respect to any such future grants, including, but not limited to, the times when the Stock Units shall be granted, the number of Stock Units, the Vesting Dates and the Payment Dates,
will be at the sole discretion of the Company; (c) the Employee’s participation in the Plan shall not create a right to further employment with the Employee’s employer and shall not interfere with the ability of the Employee’s
employer to terminate the Employee’s employment relationship at any time with or without cause; (d) the Employee’s participation in the Plan is voluntary; (e) the Stock Units are not part of normal and expected compensation for
purposes of calculating any severance, resignation, redundancy, end of service payment, bonuses, long-service awards, pension or retirement benefits, or similar payments; and (f) the future value of the Stock Units is unknown and cannot be
predicted with certainty. 
 11.    Effect of Plan and these Terms and Conditions. The Plan is hereby
incorporated by reference into these Terms and Conditions, and these Terms and Conditions are subject in all respects to the provisions of the Plan, including without limitation the authority of the Executive Compensation Committee of the Board of
Directors of the Company (the “Committee”) in its sole discretion to adjust awards and to make interpretations and other determinations with respect to all 

  
 -6- 

 
matters relating to the applicable Award Agreements, these Terms and Conditions, the Plan and awards made pursuant thereto. These Terms and Conditions shall apply to the grant of Stock Units made
to the Employee on the date hereof and shall not apply to any future grants of Stock Units made to the Employee. 

12.    Notices. Notices hereunder shall be in writing and if to the Company shall be addressed to the Secretary of
the Company at 7950 Jones Branch Drive, McLean, Virginia 22107, and, if to the Employee, shall be addressed to the Employee at his or her address as it appears on the Company’s records. 

13.    Successors and Assigns. The applicable Award Agreement and these Terms and Conditions shall be binding upon
and inure to the benefit of the successors and assigns of the Company and, to the extent provided in Section 7 hereof, to the estate or designated beneficiary of the Employee. 

14.    Change in Control Provisions. 

Notwithstanding anything to the contrary in these Terms and Conditions, the following provisions shall apply to all Stock Units granted under
the attached Award Agreement. 
 (a)    Definitions. 

As used in Article 15 of the Plan and in these Terms and Conditions, a “Change in Control” shall mean the first to occur of the
following: 
 (i)    the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or
14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (A) the then-outstanding shares
of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the
“Outstanding Company Voting 

  
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Securities”); provided, however, that, for purposes of this Section, the following acquisitions shall not constitute a Change in Control: (i) any acquisition directly from the Company,
(ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or one of its affiliates or (iv) any acquisition pursuant to a transaction that complies
with Sections 14(a)(iii)(A), 14(a)(iii)(B) and 14(a)(iii)(C); 
 (ii)    individuals who, as of the date hereof,
constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election or nomination for
election by the Company’s stockholders was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for
this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Board; 
 (iii)    consummation of a reorganization, merger,
statutory share exchange or consolidation or similar corporate transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock
of another entity by the Company or any of its subsidiaries (each, a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities that were the
beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common
stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation or entity resulting 

  
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from such Business Combination (including, without limitation, a corporation or entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s
assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting
Securities, as the case may be, (B) no Person (excluding any employee benefit plan (or related trust) of the Company or any corporation or entity resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more
of, respectively, the then-outstanding shares of common stock of the corporation or entity resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation or entity, except to the
extent that such ownership existed prior to the Business Combination, and (C) at least a majority of the members of the board of directors of the corporation or entity resulting from such Business Combination were members of the Incumbent Board
at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or 

(iv)    approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

(b)    Acceleration Provisions. (i) In the event of the occurrence of a Change in Control in which the Stock
Units are not continued or assumed (i.e., the Stock Units are not equitably converted into, or substituted for, a right to receive cash and/or equity of a successor entity or its affiliate), the Stock Units that have not been cancelled or paid out
shall become fully vested. The vested Stock Units shall be paid out to the Employee as soon as administratively practicable on or following the effective date of the Change in Control (but in no event later than 30 days after such event); provided
that the Change in Control also constitutes a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company 

  
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within the meaning of Section 409A of the Internal Revenue Code of 1986 (the “Code”) and the regulations and guidance issued thereunder (“Section 409A”), and such payout
will not result in additional taxes under Section 409A. Otherwise, the vested Stock Units shall be paid out as soon as administratively practicable after the earlier of the Employee’s termination of employment or the applicable Payment Date for
such Stock Units (but in no event later than 30 days after such events). 
 (ii)    In the event of the occurrence of a
Change in Control in which the Stock Units are continued or assumed (i.e., the Stock Units are equitably converted into, or substituted for, a right to receive cash and/or equity of a successor entity or its affiliate), the Stock Units shall not
vest upon the Change in Control, provided that the Stock Units that are not subsequently vested and paid under the other provisions of this Award shall become fully vested in the event that the Employee has a “qualifying termination of
employment” within two years following the date of the Change in Control. In the event of the occurrence of a Change in Control in which the Stock Units are continued or assumed, vested Stock Units shall be paid out as soon as administratively
practicable after the earlier of the Employee’s termination of employment or the applicable Payment Date for such Stock Units (but in no event later than 30 days after such events). 

A “qualifying termination of employment” shall occur if the Company involuntarily terminates the Employee without “Cause”
or the Employee voluntarily terminates for “Good Reason”. For this purpose, “Cause” shall mean: 
  

	 	•	 	any material misappropriation of funds or property of the Company or its affiliate by the Employee; 

  

	 	•	 	unreasonable and persistent neglect or refusal by the Employee to perform his or her duties which is not remedied within thirty (30) days after receipt of written notice from the Company; or 

 

	 	•	 	conviction, including a plea of guilty or of nolo contendere, of the Employee of a securities law violation or a felony. 

  
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 For this purpose, “Good Reason” means the occurrence after a Change in Control of any
of the following circumstances without the Employee’s express written consent, unless such circumstances are fully corrected within 90 days of the Notice of Termination described below: 

 

	 	•	 	the material diminution of the Employee’s duties, authorities or responsibilities from those in effect immediately prior to the Change in Control; 

 

	 	•	 	a reduction in the Employee’s base salary or target bonus opportunity as in effect on the date immediately prior to the Change in Control; 

 

	 	•	 	failure to provide the Employee with an annual long-term incentive opportunity the grant date value of which is equivalent to or greater in value than Employee’s regular annual long-term incentive opportunity in
effect on the date of the Change of Control (counting only normal long-term incentive awards made as a part of the regular annual pay package, not special awards not made on a regular basis), calculated using widely recognized valuation
methodologies by an experienced compensation consultant at a nationally recognized firm; 

  

	 	•	 	the relocation of the Employee’s office from the location at which the Employee is principally employed immediately prior to the date of the Change in Control to a location 35 or more miles farther from the
Employee’s residence immediately prior to the Change in Control, or the Company’s requiring the Employee to be based anywhere other than the Company’s offices at such location, except for required travel on the Company’s business
to an extent substantially consistent with the Employee’s business travel obligations prior to the Change in Control; or 

  

	 	•	 	the failure by the Company or its affiliate to pay any compensation or benefits due to the Employee. 

Any termination by the Employee for Good Reason shall be communicated by a Notice of Termination that (x) indicates the specific
termination provision in the Award Agreement relied upon, and (y) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee’s employment under the
provision so indicated. Such notice must be provided to the Company within ninety (90) days after the event that created the “Good Reason”. 

(iii)    If in connection with a Change in Control, the Stock Units are assumed (i.e., the Stock Units are equitably
converted into, or substituted for, a right to receive cash and/or equity of a successor entity or its affiliate), the Stock Units shall refer to the right to receive such cash and/or equity. An assumption of this Stock Unit award must satisfy the
following requirements: 
  

	 	•	 	The converted or substituted award must be a right to receive an amount of cash and/or equity that has a value, measured at the time of such conversion or substitution, that is equal to the value of this Award as of the
date of the Change in Control; 

  
 -11- 

	 	•	 	Any equity payable in connection with a converted or substituted award must be publicly traded equity securities of the Company, a successor company or their direct or indirect parent company, and such equity issuable
with respect to a converted or substituted award must be covered by a registration statement filed with the Securities Exchange Commission that permits the immediate sale of such shares on a national exchange; 

 

	 	•	 	The vesting terms of any converted or substituted award must be substantially identical to the terms of this Award; and 

  

	 	•	 	The other terms and conditions of any converted or substituted award must be no less favorable to the Employee than the terms of this Award are as of the date of the Change in Control (including the provisions that
would apply in the event of a subsequent Change in Control). 

 The determination of whether the conditions of this Section
14(b)(iii) are satisfied shall be made by the Committee, as constituted immediately before the Change in Control, in its sole discretion. 

(c) Legal Fees. The Company shall pay all legal fees, court costs, fees of experts and other costs and expenses when incurred by
Employee in connection with any actual, threatened or contemplated litigation or legal, administrative or other proceedings involving the provisions of this Section 14, whether or not initiated by the Employee. The Company agrees to pay such
amounts within 10 days following the Company’s receipt of an invoice from the Employee, provided that the Employee shall have submitted an invoice for such amounts at least 30 days before the end of the calendar year next following the calendar
year in which such fees and disbursements were incurred. 

15.    Spin-Off. The Company has announced its intention to separate its
digital automotive marketplace business from its media and other digital businesses by means of a spin-off (the “Spin-Off”) of a newly formed company named
Cars.com Inc. (“SpinCo”) which will own the digital automotive marketplace business. Under the Spin-Off, the Company will distribute the stock of 

  
 -12- 

 
SpinCo to its existing shareholders. In the event of the Spin-Off, the Number of Stock Units granted under this Award Agreement shall be adjusted if the
Employee remains employed with the Company, or its affiliates, in conjunction with the Spin-Off, as follows: 
  

	 	•	 	The Number of Stock Units under this Award Agreement will be adjusted by multiplying such number by the “RemainCo Stock Conversion Ratio”. The RemainCo Stock Conversion Ratio is equal to (i) divided by
(ii) where: (i) is the simple average of the volume weighted average per-share price of the Company’s Common Stock trading “regular way with due bills” on the New York Stock Exchange during
each of the first five (5) full trading days immediately before the Spin-Off; and (ii) is the simple average of the volume weighted average per-share price of
the Company’s Common Stock trading on the New York Stock Exchange during each of the first five (5) full trading days immediately after the Spin-Off. Such conversion shall be effected in a manner
intended generally to prevent the dilution or enlargement of rights under this Award Agreement, provided that all determinations in connection therewith (including the methodology for determining the value of a share for the RemainCo Stock
Conversion Ratio) shall be made by the Committee in its sole discretion. 

  

	 	•	 	Except as set forth above, the terms of the Award Agreement shall remain in effect. 

 In the
event of the Spin-Off, if the Employee becomes employed by SpinCo, or its affiliates, in conjunction with the Spin-Off: 

 

	 	•	 	As of the date of the Spin-Off, this Award Agreement will be converted into an award agreement to receive stock units denominated in common shares of SpinCo. The number of stock
units under the SpinCo award agreement will be calculated by multiplying the Number of Stock Units under this Award Agreement by the “SpinCo Stock Conversion Ratio”. The SpinCo Stock Conversion Ratio is equal to (i) divided by
(ii) where: (i) is the simple average of the volume weighted average per-share price of the Company’s Common Stock trading “regular way with due bills” on the New York Stock Exchange during
each of the first five (5) full trading days immediately before the Spin-Off; and (ii) is the simple average of the volume weighted average per-share price of
SpinCo’s common stock trading on the public exchange on which SpinCo is listed during each of the first five (5) full trading days immediately after the Spin-Off. Such conversion shall be effected in
a manner intended generally to prevent the dilution or enlargement of rights under this Award Agreement, provided that all determinations in connection therewith (including the methodology for determining the value of a share for the SpinCo Stock
Conversion Ratio) shall be made by the Committee in its sole discretion. 

  

	 	•	 	The Employee’s employment with SpinCo in conjunction with the Spin-Off shall not be treated as an event that cancels Employee’s rights under Section 6 or a
termination of employment under Sections 1, 3, or 5. 

  
 -13- 

	 	•	 	Except as set forth above and for appropriate conforming changes (e.g., references to the Company shall instead refer to SpinCo, references to Common Shares shall refer to common stock of SpinCo, references to the
Committee shall refer to the committee appointed by SpinCo, a Change in Control under Section 14 shall refer to a Change in Control of SpinCo, etc.), the SpinCo award agreement shall have terms and conditions that are substantially the same as
the terms and conditions set forth herein. 

 16.    Employment or Similar Agreements. The
provisions of Sections 1, 3, 5, 6, 7 and 14 of these Terms and Conditions shall not be applied to or interpreted in a manner which would decrease the rights held by, or the payments owing to, an Employee under an employment agreement, termination
benefits agreement or similar agreement with the Company that pre-exists the Grant Date and contains specific provisions applying to Plan awards in the case of any change in control or similar event or
termination of employment, and if there is any conflict between the terms of such employment agreement, termination benefits agreement or similar agreement and the terms of Sections 1, 3, 5, 6, 7 and 14, the employment agreement, termination
benefits agreement or similar agreement shall control. 
 17.    Grant Subject to Applicable Regulatory
Approvals. Any grant of Stock Units under the Plan is specifically conditioned on, and subject to, any regulatory approvals required in the Employee’s country. These approvals cannot be assured. If necessary approvals for grant or payment
are not obtained, the Stock Units may be cancelled or rescinded, or they may expire, as determined by the Company in its sole and absolute discretion. 

18.    Applicable Laws and Consent to Jurisdiction. The validity, construction, interpretation and enforceability
of this Agreement shall be determined and governed by the laws of the State of Delaware without giving effect to the principles of conflicts of law. For the purpose of litigating any dispute that arises under this Agreement, the parties hereby
consent to exclusive jurisdiction in Virginia and agree that such litigation shall be conducted in the courts of Fairfax County, Virginia or the federal courts of the United States for the Eastern District of Virginia. 

  
 -14- 

 19.    Compliance with Section 409A. This Award is intended to comply
with the requirements of Section 409A so that no taxes under Section 409A are triggered, and shall be interpreted and administered in accordance with that intent (e.g., the definition of “termination of employment” (or similar term used
herein) shall have the meaning ascribed to “separation from service” under Section 409A). If any provision of these Terms and Conditions would otherwise conflict with or frustrate this intent, the provision shall not apply. Notwithstanding
any provision in this Award Agreement to the contrary and solely to the extent required by Section 409A, if the Employee is a “specified employee” within the meaning of Code Section 409A and if delivery of shares is being made in
connection with the Employee’s separation from service other than by reason of the Employee’s death, delivery of the shares shall be delayed until six months and one day after the Employee’s separation from service with the Company
(or, if earlier than the end of the six-month period, the date of the Employee’s death). The Company shall not be responsible or liable for the consequences of any failure of the Award to avoid taxation
under Section 409A. 
 2017 
 US employees 

  
 -15-

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