Document:

EXHIBIT 10.76

 Exhibit 10.76 
 RESTRICTED STOCK AGREEMENT 
 FOR 
 EXECUTIVE OFFICER 
 This
Restricted Stock Agreement (“Agreement”) is made this      day of             ,200    , (the “Award Date”)
by and between MCG Capital Corporation, a Delaware corporation (the “Company”),
and                                     
     (“Employee”). 
 [WHEREAS, the Company and Employee entered into a certain
             agreement [DESCRIBE AGREEMENT] dated             , 200    
(as may be amended from time to time, the “Employee Agreement”); and  
 WHEREAS, in accordance with an order of the
Securities and Exchange Commission (“SEC”) dated April 4, 2006 (Release No. 27280) granting certain exemptive relief to the Company regarding the issuance of restricted stock under and in accordance with the Investment Company
Act of 1940 (as amended), as well as the approval of the Company’s Board of Directors dated May 12, 2006 and the approval of Company’s Stockholders dated June 12, 2006, the Company has adopted a Restricted Stock Plan (as such
plan is further defined below) that governs the issuances of restricted stock from time to time to employees of the Company; and  
 WHEREAS, on September 22, 2006, the Company filed with the SEC a registration statement on Form S-8 to register the shares of common stock (par value $0.01 per share) of the Company (the “Common Stock”) that are
authorized for issuance under the Restricted Stock Plan; and  
 WHEREAS, subject to and in accordance with the terms and
conditions of this Agreement and the Restricted Stock Plan, the Company desires to grant to Employee shares of Common Stock (such shares, the “Shares”) in connection with and as consideration for Employee’s various services to and for
the benefit of the Company (such grant, the “Award”): and  
 WHEREAS, it is a condition precedent to the
Company’s making of the Award that Employee enter into this Agreement with the Company concerning the rights and restrictions of the Shares subject to the Award and any additional agreements described herein that the Company may require;

 NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration (the
receipt and adequacy of which are hereby acknowledged), and intending to be legally bound hereby, the parties hereto hereby agree as follows: 
 I.
OWNERSHIP OF SHARES 
 1.1 Awarded Shares. The Company hereby awards to Employee, effective as of the Award Date, the number of
Shares set forth on Annex 1. The Shares are subject to certain restrictions and other terms and conditions set forth herein, including without limitation, the 

  

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forfeiture restrictions set forth in Article IV hereof. The certificates representing the Shares that are subject to forfeiture restrictions under Article IV
shall be held in escrow by the Corporate Secretary of the Company as provided in, and in accordance with, Article V. 
 1.2 Lapse of
Restrictions. Subject to Sections 4.1, 4.2 and 4.3 hereof, the forfeiture restrictions set forth herein shall lapse with respect to the Shares [(including, without limitation, the Performance-Based Shares)] in accordance with the Schedule(s) set
forth on Annex 1. 
 1.3 Restrictive Legends. 
 (a) In order to reflect the restrictions on disposition of the Shares and the forfeiture restrictions, the stock certificates representing the Shares will be endorsed with the following restrictive legends:

 [“THE REGISTERED OWNER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS AN AFFILIATE, AS DEFINED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “ACT”), OF THE COMPANY AND MAY NOT TRANSFER THESE SECURITIES EXCEPT (A) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE ACT, INCLUDING RULE 144 UNDER THE ACT, OR (B) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE ACT.”] 
 (b) Upon the lapse of the applicable forfeiture restrictions, at Employee’s request, the Company
shall issue replacement certificates representing such Shares without the legend set forth in clause (a) of this Section 1.3. 
 1.4 Definitions. Whenever used in this Agreement, the following terms shall have the meaning specified below unless the context clearly indicates to the contrary. 
 “Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, such Person. 
 “Beneficial Ownership” or
“Beneficially Owned” means ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act. 
 “Board” means the Board of Directors of the Company. 
 “Change in Capitalization” means any
increase or reduction in the number of shares of Common Stock, or any change in the shares of Common Stock or exchange of shares of Common Stock for a different number or kind of shares or other securities of the Company, by reason of a
reclassification, recapitalization, merger, consolidation, reorganization, spin-off, split-up, issuance of warrants or rights or debentures, stock dividend, stock split or reverse stock split, cash dividend, property dividend, combination or
exchange of shares, change in corporate structure or substantially similar event. 
  

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 “Change in Control” means the occurrence of any of the following events: 
 (a) An acquisition in one or more transactions (other than directly from the Company) of any voting securities of the Company by any Person (as defined
below) immediately after which such Person has Beneficial Ownership of fifty percent (50%) or more of the combined voting power of the Company’s then outstanding voting securities; provided, however, in determining whether a Change in
Control has occurred, voting securities which are acquired in a “Non-Control Acquisition” (as hereinafter defined) shall not constitute an acquisition which would cause a Change in Control. A “Non-Control
Acquisition” shall mean an acquisition by (i) an employee benefit plan (or a trust forming a part thereof) maintained by (A) the Company or (B) any corporation or other Person of which a majority of its voting power or its
voting equity securities or equity interest is owned, directly or indirectly, by the Company (a “Subsidiary”), (ii) the Company or its Subsidiaries, or (iii) any Person in connection with a “Non-Control
Transaction” (as hereinafter defined); or 
 (b) The individuals who, as of the date hereof, are members of the Board (the
“Incumbent Board”), cease for any reason to constitute at least a majority of the members of the Board or, following a Merger (as defined below), the board of directors of the ultimate Parent Corporation (as defined below);
provided, however, that if the election, or nomination for election by the Company’s common stockholders, of any new director was approved by a vote of at least a majority of the Incumbent Board (or, with respect to the directors who are not
“interested persons” as defined in the Investment Company Act of 1940, by a majority of the directors who are not “interested persons” serving on the Incumbent Board), such new director shall, for purposes of this
Agreement, be considered as a member of the Incumbent Board; provided further, however, that no individual shall be considered a member of the Incumbent Board if such individual initially assumed office as a result of an actual or threatened
solicitation of proxies or consents by or on behalf of a Person other than the Board (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Proxy Contest; or 
 (c) The consummation of: 
 (i) A merger, consolidation or reorganization involving the Company (a “Merger”) or an indirect or direct subsidiary of the Company, or to which securities of the Company are issued, unless: 
 (A) the stockholders of the Company, immediately before a Merger, own, directly or indirectly immediately following the Merger, more than
fifty percent (50%) of the combined voting power of the outstanding voting securities of (x) the corporation resulting from the Merger (the “Surviving Corporation”) if fifty percent (50%) or more of the combined
voting power of the then outstanding voting securities of the Surviving Corporation is not Beneficially Owned, directly or indirectly, by another Person or group of Persons (a “Parent Corporation”), or (y) if there is one or
more Parent Corporations, the ultimate Parent Corporation, and  
 (B) the individuals who were members of the
Incumbent Board immediately prior to the execution of the agreement providing for a Merger constitute at least a majority of the members of the board of directors of (x) the Surviving Corporation or (y) the ultimate Parent Corporation, if
the ultimate Parent Corporation, directly or indirectly, owns fifty percent (50%) or more of the combined voting power of the then outstanding voting securities of the Surviving Corporation, and 
  

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 (C) no Person other than (a) the Company, (b) any Subsidiary, (c) any
employee benefit plan (or any trust forming a part thereof) maintained by the Company, the Surviving Corporation, any Subsidiary, or the ultimate Parent Corporation, or (d) any Person who, together with its Affiliates (as defined below),
immediately prior to a Merger had Beneficial Ownership of fifty percent (50%) or more of the then outstanding voting securities, owns, together with its Affiliates, Beneficial Ownership of fifty percent (50%) or more of the combined voting
power of the then outstanding voting securities of (x) the Surviving Corporation or (y) the ultimate Parent Corporation; 
 (D) Each transaction described in clauses (c)(i)(A) through (C) above shall herein be referred to as a “Non-Control Transaction”; or 
 (ii) The direct or indirect sale or other disposition of all or substantially all of the assets of the Company to any Person (other than
(A) a transfer to a Subsidiary, (B) under conditions that would constitute a Non-Control Transaction with the disposition of assets being regarded as a Merger for this purpose, or (C) the distribution to the Company’s
stockholders of the stock of a Subsidiary or any other assets). 
 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely
because any Person (the “Subject Person”) acquired Beneficial Ownership of more than the permitted amount of the then outstanding voting securities as a result of the acquisition of voting securities by the Company which, by
reducing the number of voting securities then outstanding, increases the proportional number of shares Beneficially Owned by the Subject Persons, provided that if a Change in Control would occur (but for the operation of this sentence) as a result
of the acquisition of voting securities by the Company, and after such share acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional voting securities which increases the percentage of the then outstanding
voting securities Beneficially Owned by the Subject Person, then a Change in Control shall occur. 
 “Code” means the
Internal Revenue Code of 1986, as amended. 
 “Committee” means the Compensation Committee of the Board, which is composed
solely of independent directors, or another committee of the Board composed solely of independent directors that is appointed by the Board to administer this Agreement. 
 “Dividends” means all cash dividends (including shares of Common Stock acquired through any dividend reinvestment program with respect to regular cash dividends), except for liquidating dividends.

 “Exchange Act” means the Securities and Exchange Act of 1934, as amended. 
 “Fair Market Value” on any date means the closing price per share of Common Stock on such date and, when used with reference to shares
of Common Stock for any period 

  

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shall mean the average of the daily closing prices per share of Common Stock for such period. If the shares of Common Stock are listed or admitted to trading
on a national securities exchange, the closing price shall be the last sale price, regular way, or, in case no such sale takes place on such day, the average of the closing bid and asked prices, regular way, in either case as reported in the
principal consolidated transaction reporting system with respect to securities listed or admitted to trading on the New York Stock Exchange or, if the shares of Common Stock are not listed or admitted to trading on the New York Stock Exchange, as
reported in the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the shares of Common Stock are listed or admitted to trading or, if the shares of Common
Stock are not so listed on any national securities exchange, as reported in the transaction reporting system applicable to securities designated as a “national market system security” or NASDAQ. If the shares of Common Stock are not so
listed, admitted to trading or designated, Fair Market Value shall be as determined in good faith by the Board based on an opinion of an independent investment banking firm with an established national reputation with respect to the valuation of
securities. 
 “Forfeitable Shares” means any Shares with respect to which the restrictions have not lapsed in accordance
with the Schedule(s) set forth in Annex 1[, including any Forfeitable Shares with Special Risk]. 
 [“Forfeitable Shares with Special
Risk” means Performance-Based Shares (as defined in the Schedule(s) to Annex 1) with respect to which the restrictions thereon have not lapsed in accordance with the Schedule(s) set forth in Annex 1 on the applicable forfeiture date for
such Shares until such time as such Shares become Non-Forfeitable Shares on a subsequent date as a result of either the Board or the Committee (after consultation with Employee) determining that such non-forfeiture of such Performance-Based
Shares is warranted due to the achievement of performance milestones or other performance of Employee or the Company prior to or on such subsequent date; provided, however, that unless either the Board or the Committee determines otherwise,
then such Forfeitable Shares with Special Risk (and all Dividends paid in connection therewith as of and after the date on which such Shares became Forfeitable Shares with Special Risk, but net of taxes (if any) paid as a result of such
payment of Dividends) shall be immediately forfeited upon the earlier to occur of the following: (a) Employee’s termination date (if prior to a Change in Control), or (b) February 28, 2010.] 
 “Non-Forfeitable Shares” means any Shares with respect to which the restrictions thereon have lapsed (a) in accordance with the
Schedule(s) set forth in Annex 1, or (b) otherwise in accordance with the terms of this Agreement, or (c) otherwise upon a determination of the Board or the Committee. 
 “Owner” includes Employee and all subsequent holders of the Shares who own such Shares pursuant to a Transfer from Employee in accordance
with Section 3.1 and Section 3.2. 
 “Person” means “person” as such term is used for purposes of
Section 13(d) or 14(d) of the Exchange Act, including without limitation, any individual, corporation, limited liability company, partnership, trust, unincorporated organization, government or any agency or political subdivision thereof or any
other entity or any group of Persons. 
  

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 “Restricted Stock Plan” means the MCG Capital Corporation 2006 Employee Restricted Stock
Plan, as approved by the Board of Directors of the Company on May 12, 2006, and by the Stockholders of the Company on June 12, 2006, as such Restricted Stock Plan may be amended and modified from time to time.

 “Schedule” shall refer to the Schedule(s) set forth on Annex 1. 
 “Subsidiary” means any corporation which is a subsidiary corporation (within the meaning of Section 424(f) of the Code) with
respect to the Company, except that for the purposes of the definition of a “Change in Control,” Subsidiary is defined in such definition. 
 “Transfer” means a transfer, sale, assignment, pledge, hypothecation or other disposition of any Shares. 
 II. SPECIAL PROVISIONS 
 2.1 Stockholder Rights, Including Voting & Dividend Rights. Unless and until any
such Shares awarded to Employee hereunder are forfeited in accordance with the terms and provisions of this Agreement, Employee (or any successor in interest) shall have and be entitled to all of the rights and privileges of a holder of Common Stock
of the Company (including, without limitation, voting rights and dividend rights) with respect to both such Forfeitable Shares and such Non-Forfeitable Shares, but subject, however, to the transfer restrictions of Article III. [Notwithstanding the
foregoing, Employee shall not be entitled to retain any Dividends received on Forfeitable Shares with Special Risk unless and until such time as such Shares become Non-Forfeitable Share, and all Dividends paid or payable with respect to
Forfeitable Shares with Special Risk as of and after the date on which such Shares become Forfeitable Shares with Special Risk (exclusive of taxes paid, if any, relating to such payment of Dividends) shall be forfeited to the Company if the related
Forfeitable Shares with Special Risk are forfeited hereunder.] 
 2.2 Payment and Reimbursement for Applicable Withholding Taxes.
Employee understands that (a) all of the Shares that are Forfeitable Shares as of the Award Date are considered to be subject to a substantial risk of forfeiture under Section 83 of the Code, and (b) under Section 83(a) of
the Code, upon the lapse of any forfeiture restrictions applicable to any of the Shares, Employee is required to include as compensation income (the “Taxable Amount”) the difference (if any) between the price paid (if any) for such Shares
and the Fair Market Value of such Shares on the date on which any such forfeiture restrictions applicable to such Shares lapse. Employee hereby (i) covenants and agrees to reimburse and pay to the Company, upon written demand (including by
email or other electronic means) and strictly in accordance with each such demand, in immediately available funds the full amount of withholding taxes as determined by the Company to be due and payable to the Company with respect to all Taxable
Amounts and with respect to any Dividends paid (or to be paid) relating to all of Employee’s Forfeitable Shares, and (ii) hereby authorizes the Company (at its election but without in any manner modifying or limiting
Employee’s obligations under clause “(i)” of this sentence) to withhold, deduct and/or set off any and all such amounts owed or to be owed to the Company in accordance with this Section from any and all payroll or other amounts owed
by the Company to Employee. If Employee has not paid in full and in  

  

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immediately available funds all amounts owed or to be owed to the Company under this Section (as evidenced by a written demand from the Company) at the
time that forfeiture restrictions would otherwise lapse under this Agreement with respect to any of Employee’s Shares, then the lapsing of such forfeiture restrictions with respect to such Shares shall be automatically postponed by 45
calendar days (or the first Business Day thereafter, if such date is not a Business Day). If any such amounts that are owed or to be owed to the Company under this Section or that would be owed to the Company upon the lapsing of forfeiture
restrictions the stated time for which has already passed (as determined by the Company) are not paid in full and in immediately available funds prior to the end of such 45-day extension period, then all of the Forfeitable Shares of Employee
relating to such delinquent payment(s) shall be permanently forfeited hereunder. 
 III. TRANSFER RESTRICTIONS 
 3.1 Restrictions on Transfer of Forfeitable Shares. Employee shall not transfer, assign, encumber, or otherwise dispose of all or any part of the
Forfeitable Shares, other than to the Company. 
 3.2 Restrictions on Transfer of Shares; Transferee Obligations. 
 (a) No Transfer of Shares, whether or not permitted by Section 3.1, shall be made or recorded on the books of the Company, and any such Transfer
shall be void and of no effect, unless: 
 (i) Such Transfer of the Shares is made pursuant to an effective registration statement under the
1933 Act and applicable state securities laws or pursuant to an exemption therefrom with respect to which the Company may, upon request, require a satisfactory opinion of counsel retained by Employee (which counsel shall be acceptable to the
Company) to the effect that such Transfer is exempt from the provisions of Section 5 of the 1933 Act and applicable state securities laws; and 
 (ii) Each person (other than the Company) to whom the Shares (whether Forfeitable Shares or Non-Forfeitable Shares) are transferred by means of one of the Transfers specified in Section 3.1 above shall, as a
condition precedent to the validity of such Transfer, agree in writing to the Company to be bound by the terms and provisions of this Agreement and acknowledge that any such transferred Shares shall be subject to the terms and provisions of this
Agreement, including without limitation (1) the restrictions on transfer contained in Sections 3.1 and 3.2 as applicable, and (2) the forfeiture restrictions contained in Article IV, and (3) the escrow provisions
pursuant to Article V, to the same extent as if such Shares continued to be owned by Employee. 
 (b) No Transfer of Shares in violation of
this Agreement shall be made or recorded on the books of the Company, and any such Transfer shall be void and of no effect. 
 IV. FORFEITURE OF
FORFEITABLE SHARES 
 4.1 Termination of Employment. Upon any termination of Employee’s employment with the Company for any
reason, unless the Board or the Committee shall otherwise determine 

  

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in its sole discretion to permit all or some portion of the Forfeitable Shares to become Non-Forfeitable Shares, (a) if Employee’s employment with
the Company is then subject to the terms of an effective employment or other agreement that contains a provision applicable to such termination, then such agreement shall govern the treatment of Employee’s Forfeitable
Shares upon the occurrence of such termination (including, if applicable, with respect to a Change of Control), and (b) if Employee’s employment with the Company is not then subject to the terms of an effective
employment or other agreement that contains a provision applicable to such termination, then (subject to Section 4.2) all of Employee’s Forfeitable Shares shall be forfeited as of such date of termination. 
 4.2 Change in Control. Upon the occurrence of a Change in Control, notwithstanding anything to the contrary in this Agreement or in any employment
or other agreement between Employee and the Company that would provide for a lesser benefit, all of Employee’s Forfeitable Shares shall become Non-Forfeitable Shares if, within 365 calendar days after the date of such Change of
Control, Employee’s employment with the acquiring company is terminated: 
  

	 	(i)	By the acquiring company unless such termination is due to (1) a failure or refusal by Employee to perform reasonably assigned duties, or (2) dishonesty or
willful misconduct in the performance of Employee’s duties, or (3) Employee’s engaging in a transaction in connection with the performance of Employee’s duties to the Company or any of its Subsidiaries which transaction is
adverse to the interests of the Company or any of its Subsidiaries and which transaction is engaged in for personal profit to Employee, or (4) willful violation by Employee of any law, rule or regulation (other than traffic violations or
similar offenses) in connection with the performance of Employee’s duties; or  

  

	 	(ii)	By Employee if such termination is due to (1) a change in Employee’s status, title, position or responsibilities (including reporting responsibilities) that
represents an adverse change from Employee’s status, title, position or responsibilities as in effect immediately prior to the occurrence of such Change of Control, or (2) a reduction in Employee’s base salary from the base salary in
effect during the prior calendar year, or (3) the acquiring company’s requiring Employee (without Employee’s consent or agreement) to be based at a location that is outside a 50-mile radius from the office in which Employee was
employed by the Company immediately prior to the occurrence of such Change of Control, except for reasonably required travel in connection with the acquiring company’s business. 

 4.3 Additional Shares or Substituted Securities. Upon the occurrence of any Change in Capitalization, any new, substituted or additional
securities or other property (excluding Dividends) that is by reason of any such Change in Capitalization distributed with respect to the Shares shall be immediately subject to the restrictions set forth herein, but only to the extent the Shares are
at the time covered by such restrictions. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number of Shares hereunder in order to reflect the effect of any such transaction upon the
Company’s capital structure. 
  

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 V. ESCROW 
 5.1 Deposit. Upon issuance, the certificates for the Forfeitable Shares shall be deposited in escrow with the Corporate Secretary of the Company to be held in accordance with the provisions of this Article V. Each deposited
certificate shall be accompanied by two original duly executed Assignment Separate from Certificates in the form of Exhibit A. The deposited certificates, together with any other assets or securities from time to time deposited with the Company
pursuant to the requirements of this Agreement, shall remain in escrow until such time or times as the certificates (or other assets and securities) are to be released or otherwise surrendered for cancellation in accordance with Section 5.3
below. Upon delivery of the certificates (or other assets and securities) to the Company, the Owner shall be provided with written evidence of the number of Shares (or other assets and securities) delivered in escrow to the Corporate Secretary of
the Company. 
 5.2 Recapitalization. All Dividends [(other than Dividends with respect to Forfeitable Shares with Special Risk, but
exclusive of taxes paid (if any) relating to the payment of such Dividends)] shall be paid directly to the Owner and shall not be held in escrow. However, in the event of a Change in Capitalization, any new, substituted or additional securities or
other property (excluding Dividends) that is by reason of such transaction distributed with respect to the Shares shall be immediately delivered to the Corporate Secretary of the Company to be held in escrow under this Article V, but only to the
extent the Shares are at the time subject to the escrow requirements of Section 5.1. [All Dividends paid or payable with respect to Forfeitable Shares with Special Risk as of and after the date on which such Shares become Forfeitable Shares
with Special Risk (exclusive of taxes paid, if any, relating to the payment of such Dividends) shall be held in escrow and shall be payable to the Owner or forfeited to the Company, as applicable, in accordance with the terms of this
Agreement.] 
 5.3 Release/Surrender. The Shares, together with any other assets or securities held in escrow hereunder, shall be
subject to the following terms and conditions relating to their release from escrow or their surrender to the Company for cancellation: 
 (a) The certificates for Shares shall be released from escrow (including any Dividends thereon being held in such escrow) and delivered to the Owner after the restrictions on the Forfeitable Shares lapse in accordance with the Schedule(s)
or as otherwise set forth herein, upon the written request of the Owner with reasonable advance notice to the Corporate Secretary. 
 (b) If
Forfeitable Shares are forfeited hereunder, then the certificates representing such forfeited Shares (including any Dividends thereon being held in such escrow) shall be surrendered to the Company. 
 (c) Notwithstanding anything to the contrary contained in this Section 5.3, all Shares (or other assets or securities) released from escrow in
accordance with the provisions of Section 5.3(a) shall nevertheless remain subject to the transfer restrictions set forth in Section 3.2 until such restrictions terminate in accordance with the terms of Section 3.2. 
  

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 VI. GENERAL PROVISIONS 
 6.1 No Employment or Service Contract. Nothing in this Agreement shall confer upon Employee any right to continue in the service of the Company (or any subsidiary of the Company employing or retaining Employee)
for any period of time or interfere with or restrict in any way the rights of the Company (or any subsidiary of the Company employing or retaining Employee) or Employee, which rights are hereby expressly reserved by each, to terminate the employee
status of Employee at any time for any reason whatsoever, with or without cause, subject to the provisions of any employment agreement between the Company and Employee. 
 6.2 Notices. Any notice required in connection with this Agreement shall be given in writing and shall be deemed to have been given when delivered personally to the recipient, sent to the recipient by reputable
overnight courier service (charges prepaid) or telecopied to the recipient at the address indicated on Annex 1 or at such other address as such party may designate by ten (10) days’ advance written notice under this Section 6.2 to all
other parties to this Agreement. 
 6.3 No Waiver. No waiver of any breach or condition of this Agreement shall be deemed to be a
waiver of any other or subsequent breach or condition, whether of like or different nature. 
 6.4 Amendment. This Agreement may be
modified, amended, suspended or terminated, and terms or conditions may be waived, but only by a written instrument executed by the parties hereto. 
 6.5 Employee Undertaking. Employee hereby agrees to take whatever additional action and execute whatever additional documents the Company may, in its judgment, deem necessary or advisable in order to carry out or effect one or more
of the obligations or restrictions imposed on either Employee or the Shares pursuant to the express provisions of this Agreement. 
 6.6
Agreement Is Entire Contract. This Agreement (in conjunction with any applicable employment agreement) constitutes the entire agreement between the parties hereto with regard to the subject matter hereof. 
 6.7 Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, as such laws are
applied to contracts entered into and performed in such State, without regard to conflict of laws principles thereof. 
 6.8
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which, when taken together, shall constitute one and the same instrument. 
 6.9 Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors
and assigns and Employee and Employee’s legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law, whether or not any such person shall have become a party to this Agreement and have agreed in writing to
join herein and be bound by the terms and conditions hereof. 
  

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 6.10 Severability. The provisions of this Agreement shall be deemed severable and the invalidity
or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 
 * * * Balance of
Page Intentionally Blank – Signatures on Next Page * * * 
  

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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Award Date first indicated
above. 
  

			
	THE COMPANY:
	
	MCG CAPITAL CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:
	
	EMPLOYEE:
	
	  

	Name:

  

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 Annex 1 
 MCG CAPITAL CORPORATION 
 RESTRICTED STOCK AGREEMENT 
  

					
			
	 Name:
	 	  
	 	
			
	 Address:
	 	  
	 	
			
		 	  
	 	
			
		 	  
	 	

  

							
	 Award Date:
	 	                                 , 200     
(immediately prior to market open)
		
	 Forfeitable Time-Based Shares (     Years):
	 	                                 shares
	 Forfeitable Performance-Based Shares:
	 	                                 shares

 Lapsing of Forfeiture for Time Based Shares ([__] Years): 
 From and after the Award Date, but subject to the restrictions and other terms and conditions set forth in this Agreement, the restrictions set forth in
Sections 3.1, 3.2, 4.1 and 5.1 shall lapse with respect to              Shares of Employee’s Category 2 (Time Based) Shares on the last calendar day of each of the
[             (__)] calendar quarters beginning             , 200     
and with respect to              Shares of Employee’s Category 2 (Time Base) Shares on
            , 200    , in each such instance only if and to the extent that Employee is still then employed by the Company on such
date. 
 Lapsing of Forfeiture for Performance Based Shares: 
 From and after the Award Date, but subject to the restrictions and other terms and conditions set forth in this Agreement, the restrictions set forth in Sections 3.1, 3.2, 4.1 and 5.1 shall lapse with respect to the
Applicable Percentage Earned (as defined below) of              Shares of Employee’s Category 3 (Performance Based) Shares on
            , 20      and with respect to the Applicable Percentage Earned of
             Shares of Employee’s Category 3 Shares on             , 20
    , in each such instance only if and to the extent that Employee is still then employed by the Company on such date. For purposes of this Agreement, the “Applicable Percentage Earned” shall mean
the quotient (expressed as a percentage) of (a) the amount paid to Employee as an annual cash incentive bonus for the Company’s most recently ended fiscal year and (b) the amount paid to Employee as annual base compensation
during the Company’s most recently ended fiscal year, but in no event may the Applicable Percentage Earned for any lapsing event exceed 100%. 
  

 -1-License Agreement, dated as of February 28, 2007

 Exhibit 10.1 
 LICENSE AGREEMENT 
 This License Agreement (“Agreement”) is entered into as of
February 28, 2007, by and between SureWest Communications, a California corporation (“Seller”), and GateHouse Media, Inc., a Delaware corporation (“Purchaser”) (Seller and Purchaser being hereinafter referred
to individually as a “Party” and collectively as the “Parties”). 
 WHEREAS, Seller and Purchaser have
entered into the Share Purchase Agreement dated as of January 28, 2007 (“Share Purchase Agreement”), pursuant to which Purchaser has agreed to purchase from Seller, and Seller has agreed to sell to Purchaser, all of the issued
and outstanding capital stock of SureWest Directories, a California corporation (“Company”); 
 WHEREAS, Seller and
Purchaser have entered into the Publishing Agreement, of even date herewith, (the “Publishing Agreement”) pursuant to which Purchaser is willing to fulfill certain publishing obligations of Seller on the terms and conditions set
forth in the Publishing Agreement; 
 WHEREAS, the Seller or its “Affiliates” (as defined in the Publishing Agreement) own and/or
use certain intellectual property identified on Schedule A; 
 WHEREAS, Seller is willing to license such intellectual property to
Purchaser for the benefit of Company, such license to be effective at the time that Purchaser becomes the owner of Company; and 
 WHEREAS,
Purchaser is willing to license such intellectual property on the terms and conditions of this Agreement. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants, premises and agreements hereinafter set forth, the mutual benefits to
be gained by the performance of such covenants, promises and agreements, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and accepted, the parties hereto hereby agree as follows: 

ARTICLE I 
 LICENSE GRANT

 1.1 Seller, on behalf of itself and its Affiliates, and subject to previously granted rights and licenses, if any, hereby grants to
Purchaser a personal, royalty-free, fully paid-up, nonexclusive and nontransferable (except as permitted pursuant to Section 8.4 below) license in the intellectual property identified on Part 1 of Schedule A (the “Nonexclusive
Intellectual Property”), subject to the conditions and limitations herein. 
 1.2 Seller, on behalf of itself and its Affiliates,
and subject to previously granted rights and licenses, if any, hereby grants to Purchaser a personal, royalty-free, fully paid-up, exclusive and nontransferable (except as permitted pursuant to Section 8.4 below) license in the 

 
intellectual property identified on Part 2 of Schedule A (the “Exclusive Intellectual Property”), subject to the conditions and
limitations herein. The Nonexclusive Intellectual Property and the Exclusive Intellectual Property shall be collectively referred to as the “Licensed Intellectual Property.” 
 1.3 The foregoing licenses granted to Purchaser (and any permitted sublicense thereof) are solely for the purposes of using the Intellectual Property in
connection with the business of publishing and providing Directory Products, as such term is defined in that certain Non-Competition and Non-Solicitation Agreement, of even date herewith, by and between Purchaser and Seller, in the California
counties set forth on Schedule B (the “Territory”) and soliciting and entering into agreements with advertisers to place advertising in the foregoing Directory Products (such business as a whole constituting the
“Directory Business”). Upon notice to Seller, Purchaser may to grant a sublicense of the license granted hereunder to any person who is an Affiliate of Purchaser and is engaged in the Directory Business, provided that such person is
not engaged in the business of providing or marketing telecommunications, Internet, video programming or wireless services. 
 1.4 Subject to
Section 1.5, below, the foregoing licenses granted to Purchaser do not include the right: (a) to use the Licensed Intellectual Property outside of the Territory; (b) to grant sublicenses to any person who is not an Affiliate of
Purchaser or who is not engaged in the Directory Business; and (c) to assign such license other than to permitted successors and assigns of Company. Any attempt to sell, assign, sublicense or transfer any license or other right to use Licensed
Intellectual Property shall be void. 
 1.5 For the avoidance of doubt, Purchaser is not restricted from use of the licensed Intellectual
Property outside the Territory in furtherance of its provision of Directory Business within the Territory, such as in solicitation of national advertising accounts. 
 ARTICLE II 
 CONDITIONS OF LICENSES 
 2.1 Notwithstanding any other provision of this Agreement, Purchaser shall not use any Licensed Intellectual Property in a manner that could result after
the Closing in a legal commitment of or which could reasonably result in causing any person to believe such person had obtained a legal commitment from Seller or any of its Affiliates. 
 2.2 Seller shall furnish Purchaser with a list of all applicable customers, suppliers and financial institutions having current business relationships
with Company before the Closing Date (the “List”). As promptly as possible, but no later than thirty (30) calendar days after the later of the Closing Date or the date Purchaser receives the List, Purchaser shall notify, in
writing, all Persons on the List that Company has been purchased by Purchaser and is no longer affiliated with Seller or any of its Affiliates. 
 2.3 Purchaser agrees that it shall cause the quality of all Directory Products or other products and services provided by Purchaser, Company or any Affiliate of Purchaser or Company that utilizes the Licensed Intellectual Property in any
way not to reflect in a materially 

 
negative or harmful manner on Seller or the Licensed Intellectual Property, and to the extent such products and services are comparable, shall be of at least
the quality of the products and services provided by Company immediately prior to the Closing. 
 2.4 Purchaser agrees to reasonably
cooperate, and to require Company, all Purchaser Affiliates, and Purchaser’s vendors, representatives and agents to cooperate with Seller in facilitating any Seller inquiry into the use of the Licensed Intellectual Property, and to permit (and
require Company, its Affiliates and all others with whom it does business to permit) reasonable, periodic review and/or inspections of such uses as are being made of the Licensed Intellectual Property. Purchaser agrees, and will require Company,
Purchaser’s Affiliates, vendors and others with whom it does business to agree that all products and services provided by Purchaser, Company or any Affiliate of Purchaser or Company, or any other person using the Licensed Intellectual Property,
and which are marketed, advertised, sold or provided in connection with the use of the Licensed Intellectual Property will be marketed, advertised, sold and provided in accordance with all applicable laws, rules, regulations and orders affecting or
governing such use. 
 2.5 Seller agrees that Purchaser will have met the required standards of quality with respect to the physical
attributes (i.e., paper quality, weight and thickness, materials used for covers, spine tabs and fold outs, but expressly excluding any content or intellectual property in or on the foregoing) and other customary measures of the quality of a
tangible Directory Product if Purchaser can demonstrate that such physical attributes of its Directory Products are of at least of the quality as those provided by Company prior to the Closing, or alternatively, are of at least the same quality as
the directory products of all of the three largest publishers of tangible Directory Products in the United States (excluding Purchaser.) 
 ARTICLE III 
 FORM OF USE OF LICENSED INTELLECTUAL PROPERTY 
 3.1 Purchaser agrees that the style of use of any Licensed Intellectual Property shall be in the form and style conforming to any existing Seller
trademark usage guidelines and Brand Identity Standards (“Standards”), a copy of which has been provided to Purchaser. Seller may update the Standards from time to time, provided that such updates apply to Seller and any of its
other licensees, and not solely to Purchaser and/or Company. Purchaser shall comply with any updated Standards as soon as reasonably practicable but for each Primary Directory, not later than the next publication date of such Primary Directory,
provided that sufficient notice has been given to Purchaser. Unless such submission is waived in writing by Seller, Purchaser shall submit to Seller for review and approval, prior to proposed use, all materials in which the Licensed Intellectual
Property are used in accordance with the following: 
 (a) At least thirty (30) calendar days prior to proposed use,
during the first six (6) months after the Closing Date; and 
 (b) At least fifteen (15) calendar days prior to
proposed use, during the balance of the Term of this Agreement. 

 No person shall publish, distribute or use any such advertising, promotional materials or products or
services in which the Licensed Intellectual Property are used without the prior written approval of the Advertising and Brand Compliance representative of Seller listed in Section 8.6, which person Seller may change from time to time on written
notice to Purchaser. 
 3.2 Purchaser also agrees that Purchaser and Company shall cause to appear on all advertisements, promotions and
other displays on or in connection with which the Licensed Intellectual Property are used, such legends, markings and notices as Seller may require in order to give appropriate notice of any trademark rights therein. 
 3.3 Notwithstanding any other provision of this Agreement, Purchaser may not include on the front or back cover (inside or outside), tabs, spine or other
three sides of, or packaging containing any print Directory Product or the cover, home page or similar feature of any non-print Directory Product which uses the Licensed Intellectual Property (i) any advertising for telecommunications,
Internet, video programming or wireless services (other than that of Seller or its Affiliates) or (ii) any name or brand that is identified with the provision of any of such services, except as required by applicable law. 
 3.4 Subject to Seller’s prior written approval, Purchaser or Company may co-brand the front
covers and spines of the print Directory Products which it publishes for Seller or an Affiliate of Seller with a trademark or trade name of Seller (or upon designation by Seller, an Affiliate of Seller), provided that: (i) with respect to
Primary Directories, the Licensed Intellectual Property and Purchaser’s mark or trade name are clearly the dominant brand, and at least one and one-half (1 1/2) times the size of any Seller mark or name. 
 3.5
Notwithstanding anything to the contrary contained herein, the consent or approval of Seller as to any matter submitted hereunder shall not be unreasonably withheld, conditioned or delayed. If Seller has not disapproved any submission or proposed
use, in writing, stating the basis therefore, within ten (10) calendar days of its receipt of such submission or proposed use, such submission or proposed use shall be deemed approved for the proposed use. Once a specific form of use with a
product or a service has been approved, no further approval for continuing or reusing such use will be necessary unless there has been a material change in such product or service. 
 ARTICLE IV 
 OWNERSHIP AND GOODWILL 
 4.1 Purchaser and Company acknowledge that Seller (or one or more of Seller’s Affiliates) is the sole and exclusive owner of rights in the Licensed
Intellectual Property, and Purchaser and Company undertake not to challenge the validity of the Licensed Intellectual Property, or the registration or application for registration or ownership of the Licensed Intellectual Property by such
Affiliate(s) of Seller, and agree that neither Purchaser nor Company, nor any Affiliate of Purchaser or Company, will do, directly or indirectly, anything inconsistent with such ownership. 
 4.2 Purchaser and Company further acknowledge and agree that all goodwill in the Licensed Intellectual Property generated by its use pursuant to this
Agreement shall inure to the 

 
benefit of and be on behalf of Seller. Nothing in this Agreement shall give Purchaser or Company, or any other person any right, title or interest in or to
the Licensed Intellectual Property other than the rights expressly granted herein, for the use and periods specified. 
 4.3 Purchaser
agrees, and will cause Company and Purchaser’s Affiliates to agree that each and all of them will not utilize the Licensed Intellectual Property or any confusingly similar intellectual property, except as expressly permitted hereunder, will not
hereafter seek registration of the Licensed Intellectual Property or any confusingly similar intellectual property, in any name. 
 ARTICLE
V 
 INFRINGEMENT 
 5.1 In the event that Purchaser or Company becomes aware of any unauthorized use of the Licensed Intellectual Property, or of any uses that Purchaser or Company believes to be confusingly or substantially similar in nature to the Licensed
Intellectual Property (each, an “Unauthorized Use”), Purchaser shall promptly provide Seller with written notice. 
 5.2
Seller shall have the right, but not the obligation to challenge and attempt to eliminate each Unauthorized Use. In the event that Seller decides to bring an enforcement action, Purchaser and Company shall reasonably cooperate (and shall require its
Affiliates and vendors to reasonably cooperate), at Seller’s expense, with Seller in investigating, prosecuting and resolving any enforcement action instituted by Seller against any person engaging in an Unauthorized Use. Seller may bring an
action in the name of Seller alone or in the name of both Seller and Purchaser (and/or Company) with counsel selected by Seller and at Seller’s expense. Purchaser, at its own expense, shall have the right to participate with counsel of its own
choice in the investigation, prosecution and/or resolution of any such enforcement action instituted by Seller. Seller shall retain any and all proceeds recovered in any such enforcement action Seller institutes and completes. Neither Purchaser, nor
Company, nor any Affiliate of Purchaser or Company, shall have the right to prosecute or settle an infringement action against any person who engages in an Unauthorized Use. 
 ARTICLE VI 
 ASSURANCES, WARRANTY, LIMITATIONS ON LIABILITY 
 6.1 From time to time after the date of this Agreement, as and when requested by a party hereto, the other party will execute and deliver, or cause to be
executed and delivered, any documents hereto as may be reasonably necessary or appropriate to effectuate the intent of this Agreement. 
 6.2
Without limiting any of the representations and warranties provided in the Agreement, nothing contained in this Agreement shall be construed as: 
 (a) requiring the securing or maintaining in force by Seller or Purchaser of any Intellectual Property; 

 (b) a warranty or representation by Seller or its Affiliates or by Purchaser or its
Subsidiaries as to the validity or scope of any Intellectual Property; 
 (c) a warranty or representation by Seller or its
Affiliates that any provisioning of goods and services by Purchaser or Company or the use of Proprietary Business Information, Licensed Intellectual Property, Business Proprietary Software, or Company Intellectual Property, in whole or in part, will
be free from infringement of any Intellectual Property, other than the Licensed Intellectual Property; 
 (d) an agreement by
Seller or its Affiliates or by Purchaser or Company to bring or prosecute actions or suits against third parties for infringement of any Intellectual Property; or 
 (e) an obligation upon Seller or its Affiliates to make any determination as to the applicability of any Intellectual Property to any
product or service. 
 6.3 For the avoidance of doubt, nothing in this Agreement conveys or licenses to Purchaser or Company any customer
data of Seller or any Seller Affiliate, or any of the following Intellectual Property: the trademark or trade name “SureWest Communications” and the trademark or trade name “SureWest.” 
 6.4 Seller represents and warrants that it has not received notice or claims and is not otherwise aware that the Licensed Intellectual Property infringes
any third party intellectual property rights. 
 6.5 EXCEPT FOR THE EXPRESS WARRANTY SET OUT IN SECTION 6.4, THERE ARE NO OTHER WARRANTIES,
EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE (EVEN IF A PARTY HAS BEEN MADE AWARE OF SUCH PURPOSE) AND ANY WARRANTY AGAINST INFRINGEMENT OF INTELLECTUAL
PROPERTY. 
 6.6 IN NO EVENT SHALL SELLER OR ITS AFFILIATES ON THE ONE HAND, OR PURCHASER AND COMPANY ON THE OTHER HAND, BE LIABLE TO THE
OTHER FOR ANY INDIRECT DAMAGES, INCLUDING ANY LOST BUSINESS OR PROFITS, OR OTHER INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR RELATED TO THIS AGREEMENT. 
 ARTICLE VII 
 TERMINATION/CANCELLATION 
 7.1 The term of this Agreement shall commence at the Effective Time, and shall continue at all times thereafter, unless terminated/cancelled earlier by
either Party as provided herein. 
 7.2 No waiver of any breach of, or default under, this Agreement shall constitute a waiver of any other
breach of, or default under, this Agreement, and no waiver shall be effective 

 
unless made in writing and signed by an authorized representative of the Party waiving the breach or default. 
 7.3 The licenses for any Licensed Intellectual Property may be terminated at any time my mutual agreement of Seller and Purchaser, which agreement shall
bind Company and any Purchaser Affiliate in addition, and any other person using the Licensed Intellectual Property through Purchaser or Company. 
 7.4 Purchaser may terminate the licenses for any Licensed Intellectual Property at any time by delivering written notice of termination and immediate termination of all uses of the Licensed Intellectual Property. 
 7.5 If Purchaser or Company voluntarily files for bankruptcy or makes an assignment for the benefit of its creditors, or an involuntary assignment or
bankruptcy petition is made or filed against Purchaser or Company, Seller may immediately terminate this Agreement and the licenses granted to Purchaser and Company for all Licensed Intellectual Property. 
 7.6 In the event of any breach of any material provision of this Agreement related to Licensed Intellectual Property by Purchaser and Company which is
not cured within thirty (30) days of written notice by Seller, Seller shall have the right to terminate and cancel the rights and licenses granted to Purchaser or Company under Licensed Intellectual Property as to all Licensed Intellectual
Property, and such right to terminate shall not be limited to individual items of Licensed Intellectual Property. The foregoing shall be in addition to any other rights and remedies available to Seller. 
 7.7 If the Publishing Agreement is terminated for cause by Seller, its Affiliate or its assignee, pursuant to Section 6.2 thereof, this Agreement
and all license rights of Purchaser and Company under this Agreement shall terminate. 
 7.8 Purchaser shall cause any permitted sublicense
it enters into with respect to Licensed Intellectual Property to reflect the conditions of this Agreement, including the limitations that may affect the duration of any sublicense as set out in this Article. 
 7.9 Upon any termination, cancellation or expiration of this Agreement or of any license, all rights of Purchaser, Company, and Purchaser’s
Affiliates, and any sublicensee to use the Licensed Intellectual Property shall revert automatically to Seller, and no further use of such Licensed Intellectual Property shall be made by Purchaser, Company or any Affiliate or sublicensee of
Purchaser or Company; provided that any print Directory Products for which production has been completed prior to the date of termination, and which cannot be reasonably modified to delete the applicable Licensed Intellectual Property, may be
distributed for the intended life of such Directory Product (but in no event more than 12 months following such termination), but all other use shall be terminated. 
 7.10 The Parties acknowledge and agree that Seller would be irreparably damaged in the event any of the provisions of this Agreement, any license hereunder or any permitted sublicense are not fully performed by
Purchaser, Company or their permitted sublicensees in accordance with their specific terms or are otherwise breached by the Purchaser, Company or its their permitted sublicensees and that in such event money damages would be an inadequate 

 
remedy for Seller. Accordingly, Purchaser, on behalf of itself and on behalf of Company and their permitted sublicensees hereby agrees that the Seller shall
be entitled to seek an immediate injunction to prevent any breaches, including anticipatory or further breaches, of the provisions of this Agreement and any license hereunder and to enforce specifically the terms and provisions hereof in any action
instituted in any federal, state or foreign court having jurisdiction, in addition to any other remedy to which the Seller may be entitled at law or in equity. It is understood between the Parties that, in addition to the injunctive relief mentioned
above, the Seller shall be entitled to any other relief which may be deemed proper and customary, whether at law or in equity, as of the time such relief is sought, subject to the limitations and restrictions, if any, set forth in this Agreement.

 ARTICLE VIII 
 GENERAL PROVISIONS 
 8.1 Seller agrees to enter into an amendment to this Agreement to cover additional trademarks, service
marks, domain names, slogans, geographical indications, trademark designs and logos owned by Seller on similar terms and conditions if Seller uses a primary trademark or trade name other than the current “SureWest” marks. In such event,
the Parties would negotiate in good faith to add or replace certain marks licensed hereunder with marks that include the new name (e.g., “SureWest Directories” replaced by “New Name Directories”). In such event, the Parties agree
that a letter agreement signed by both Parties shall be sufficient to extend this Agreement and all of the terms and conditions hereof to such additional trademarks, service marks, domain names, slogans, geographical indications, trademark designs
and logos, if any. 
 8.2 Except and to the extent expressly provided herein, the provisions of Article X (Miscellaneous) of the Share
Purchase Agreement shall apply to this Agreement and such provisions are expressly incorporated herein; provided, however, in the event of conflict between the provisions of this Agreement and the Share Purchase Agreement, the provisions of
this Agreement shall take precedence. 
 8.3 This Agreement shall be governed by and construed in accordance with the substantive laws of the
State of California, without regard to the principles of conflict of law thereof. Each of the Parties (i) consents to submit itself to the personal jurisdiction of any State or Federal court located in the Counties of Placer or Sacramento in
connection with any dispute that arises out of this Agreement, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court and (iii) agrees that it will not
bring any action relating to this Agreement or any of the transactions contemplated hereby in any court other than a Federal court or a California state court located in the Counties of Placer or Sacramento. Each Party hereby waives, to the fullest
extent permitted by applicable law, any right it may have to a trial by jury in respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement or any transaction contemplated hereby. 
 8.4 If the application of anyone or more of the provisions of this Agreement shall be unlawful under applicable law and regulation, then the Parties will
attempt in good faith to make such alternative arrangements as may be legally permissible and which carry out as nearly as 

 
practicable the terms of this Agreement. Should any portion of this Agreement be deemed to be unenforceable by a court of competent jurisdiction, the
remaining portion hereof shall remain unaffected and be interpreted as if such unenforceable portion were initially deleted. 
 8.5 This
Agreement shall be binding upon and inure to the benefit of the Parties and their respective permitted successors and assigns. Notwithstanding anything to the contrary, Purchaser may, with the prior consent of Seller (not to be unreasonably
withheld), (i) assign any of the rights and obligations hereunder to any Affiliate of Purchaser that is actually conducting the Business of Purchaser (including GateHouse Media Directories Holdings, Inc.), provided that such Affiliate agrees in
writing to be bound by the terms and conditions of this Agreement and Purchaser continues to remain fully liable for all of its obligations hereunder; or (ii) assign any of its rights and obligations hereunder to a third party in connection
with a sale of all or substantially all of the Business of Purchaser and Purchaser’s Subsidiaries (whether by merger, consolidation, sale of assets, sale or exchange of stock or otherwise) in the Territory, provided that such third party agrees
in writing to be bound by the terms and conditions of this Agreement. Notwithstanding anything to the contrary herein, except with prior consent of Seller (which may be withheld in Seller’s sole discretion), Purchaser may not assign this
Agreement or any licenses hereunder (i) to any receiver, trustee or debtor in possession for the benefit of creditors or a bankruptcy estate. This Agreement shall be freely assignable and transferable by Seller to its Affiliates, any assignee
of the Licensed Intellectual Property or any successor in interest of Seller. 
 8.6 The Parties shall do and perform or cause to be done and
performed all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments or documents, as the other Party may reasonably request in order to carry out the intent and purposes of this Agreement.

 8.7 All notices, demands and other communications to be given or delivered under or by reason of the provisions of this Agreement will be
in writing and will be deemed to have been given: (i) immediately when personally delivered; (ii) when received by first class mail, return receipt requested; (iii) one (1) day after being sent by Federal Express or other
overnight delivery service; or (iv) when receipt is acknowledged, either electronically or otherwise, if sent by facsimile, telecopy or other electronic transmission device. Notices, demands and communications to the other party will, unless
another address is specified by such party in writing, be sent to the address indicated below: 
 If to Seller: 
 SureWest Communications 
 200 Vernon Street

 Roseville, California 95678 
 Attention: President & CEO 
 Telecopier: (916) 786-1800 

 Person to Whom Advertising and Brand Compliance Notice Should be Sent: 
 SureWest Communications 
 8150 Industrial
Avenue, Building A 
 Roseville, CA 
 Attention: Peter Drozdoff, Vice President, Marketing Communications 
 Telecopier: (916) 786-1156 
 Email: pdrozdoff@surewest.com 
 If to
Purchaser: 
 GateHouse Media, Inc. 
 350 WillowBrook Office Park 
 Fairport, New York 14450 
 Attention: Chief Executive Officer 
 Fax: (585) 248-2631 
 8.8 Except as expressly provided herein, this Agreement and any attached schedule may be amended only by agreement in writing of the Parties. No waiver
of any provision nor consent to any exception to the terms of this Agreement or any agreement contemplated hereby shall be effective unless in writing and signed by both Parties and then only to the specific purpose, extent and instance so provided.
No failure on the part of either Party to exercise or delay in exercising any right hereunder shall be deemed a waiver thereof, nor shall any single or partial exercise preclude any further or other exercise of such or any other right. In addition,
no course of dealing or failure of any Party to strictly enforce any term, right or condition of this Agreement will be construed as a waiver of such term, right or condition. 
 8.9 This Agreement and the Schedules, attached hereto, contain the entire agreement of the Parties with respect to the subject matter hereof and thereof
and supersede all prior understandings and agreements of the Parties with respect thereto. 
 8.10 All captions and headings in this
Agreement are for purposes of convenience only and shall not affect the construction or interpretation of any of its provisions. 
 8.11
Nothing herein shall be construed as creating any agency, partnership or other form of joint enterprise between Seller and Purchaser. 
 8.12
The provisions of Sections 2.1, 4.1, 4.2, 4.3, 7.9, 7.10, 8.2, 8.7, 8.8, 8.11, and 8.13 shall survive the termination, cancellation or expiration of this Agreement and continue in full force and effect thereafter. 
 8.13 Except and only to the extent expressly set forth in Sections 1.1 and 1.2 of this Agreement, Purchaser, on behalf of itself and its permitted
sublicensees, agrees that no other rights or licenses, express or implied, are granted under this Agreement to any other intellectual property rights of Seller or its Affiliates. 
 8.14 This Agreement may be signed and delivered either originally or by facsimile, and in one or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. 

 8.15 All terms defined herein have the meanings assigned to them herein for all purposes, and such
meanings are equally applicable to both the singular and plural forms of the terms defined. “Include,” “includes” and “including” shall be deemed to be followed by “without limitation” whether or not they are
in fact followed by such words or words of like import. “Writing,” “written” and comparable terms refer to printing, typing, lithography and other means of reproducing words in a visible form. Any instrument defined or referred
to herein means such instrument as from time to time amended, modified or supplemented, including by waiver or consent and includes references to all attachments thereto and instruments incorporated therein. References to a Person are, unless the
context otherwise requires, also to its successors and assigns. Any term defined herein by reference to any instrument has such meaning whether or not such instrument or Law is in effect. “Shall” and “will” have equal force and
effect. “Hereof,” “herein,” “hereunder” and comparable terms refer to the entire instrument in which such terms are used and not to any particular article, section or other subdivision thereof or attachment thereto.
References in an instrument to “Section” or another subdivision or to an attachment are, unless the context otherwise requires, to a section or subdivision of or an attachment to such instrument. References to any gender include, unless
the context otherwise requires, references to all genders, and references to the singular include, unless the context otherwise requires, references to the plural and vice versa. 
 8.16 The confidentiality provision set forth in Section 6.3 of the Share Purchase Agreement is incorporated herein by reference and shall apply to
the Parties hereto. The obligations thereunder shall survive the termination or expiration of this Agreement. 
 SIGNATURE
PAGE TO FOLLOW 

 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed in duplicate originals
by its duly authorized representatives on the respective dates entered below. 
  

			
	GATEHOUSE MEDIA, INC.
		
	By	 	/s/ Michael E. Reed
		 	 Michael E. Reed
 Chief Executive
Officer

  

			
	 SUREWEST COMMUNICATIONS,
 a California
corporation

		
	By	 	/s/ Steven C. Oldham
		 	 Steven C. Oldham
 President and
CEO

 SIGNATURE PAGE TO LICENSE
AGREEMENT

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