Document:

Broadcasting Media Partners, Inc. 2007 Equity Incentive Plan

 Exhibit 10.17 
 BROADCASTING MEDIA PARTNERS, INC. 
 2007 EQUITY INCENTIVE PLAN 
 EFFECTIVE AS
OF MARCH 29, 2007 

 TABLE OF CONTENTS 
  

			
	 	  	Page
	 SECTION 1. ESTABLISHMENT, PURPOSE & ELIGIBILITY
	  	1
		
	 a. Establishment
	  	1
	 b. Purpose of the Plan
	  	1
	 c. Eligibility
	  	1
		
	 SECTION 2. ADMINISTRATION
	  	1
		
	 a. Committees
	  	1
	 b. Authority of the Board of Directors
	  	1
		
	 SECTION 3. STOCK SUBJECT TO PLAN
	  	1
		
	 a. Basic Limitation
	  	1
	 b. Additional Shares
	  	2
		
	 SECTION 4. AWARDS
	  	2
		
	 a. Types of Awards
	  	2
	 b. Award Agreements
	  	2
	 c. No Rights as a Shareholder
	  	2
		
	 SECTION 5. OPTIONS
	  	3
		
	 a. Option Agreement
	  	3
	 b. Method of Exercise
	  	3
		
	 SECTION 6. STOCK APPRECIATION RIGHTS
	  	4
		
	 a. Generally
	  	4
	 b. Stock Appreciation Rights Award Agreement
	  	4
		
	 SECTION 7. RESTRICTED STOCK AWARDS AND RESTRICTED STOCK UNITS
	  	4
		
	 a. Restricted Stock
	  	4
	 b. Restricted Stock Units
	  	5
	 c. Terms of Restricted Stock Awards and Restricted Stock Units
	  	5
		
	 SECTION 8. DIVIDEND EQUIVALENT RIGHTS
	  	5
		
	 SECTION 9. OTHER STOCK-BASED AWARDS
	  	5
		
	 SECTION 10. ADJUSTMENT OF SHARES
	  	6
		
	 a. General
	  	6
	 b. Change of Control
	  	6
		
	 SECTION 11. SECURITIES LAW REQUIREMENTS
	  	7
		
	 a. Shares Not Registered
	  	7
	 b. California Participants
	  	7

  

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 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	 SECTION 12. COMPLIANCE WITH SECTION 409A OF THE CODE
	  	7
		
	 a. General
	  	7
	 b. Timing of Payment
	  	7
		
	 SECTION 13. DURATION AND AMENDMENTS
	  	8
		
	 a. Term of the Plan
	  	8
	 b. Amendment, Modification, Suspension, and Termination of Plan
	  	8
		
	 SECTION 14. GENERAL TERMS
	  	8
		
	 a. Termination for Cause
	  	8
	 b. No Retention Rights
	  	8
	 c. Settlement of Awards; No Fractional Shares
	  	8
	 d. Nontransferability of Awards
	  	8
	 e. Conditions and Restrictions on Shares
	  	9
	 f. Withholding Requirements
	  	9
	 g. Unfunded Plan
	  	9
	 h. Choice of Law
	  	9
		
	 SECTION 15. DEFINITIONS
	  	9
		
	 a. “Affiliate”
	  	9
	 b. “Award”
	  	9
	 c. “Award Agreement”
	  	10
	 d. “Board of Directors”
	  	10
	 e. “Cause”
	  	10
	 f. “Change of Control”
	  	10
	 g. “Class A Stock”
	  	11
	 h. “Class L Stock”
	  	11
	 i. “Code”
	  	11
	 j. “Committee”
	  	11
	 k. “Consultant”
	  	11
	 l. “Director”
	  	11
	 m. “Dividend Equivalent Right”
	  	11
	 n. “Employee”
	  	11
	 o. “Exchange Act”
	  	11
	 p. “Fair Market Value”
	  	11
	 q. “Option”
	  	12
	 r. “Other Stock-Based Award”
	  	12
	 s. “Participant”
	  	12
	 t. “Person”
	  	12
	 u. “Preferred Stock”
	  	12
	 v. “Qualified Institutional Investors”
	  	12
	 w. “Restricted Stock Award”
	  	12

  

 ii 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	 x. “Restricted Stock Unit”
	  	12
	 y. “Securities Act”
	  	12
	 z. “Service”
	  	12
	 aa. “Share”
	  	13
	 bb. “Stock Appreciation Right”
	  	13
	 cc. “Stockholders Agreement”
	  	13
	 dd. “Subsidiary”
	  	13
		
	 APPENDIX I CALIFORNIA SECURITIES LAW REQUIREMENTS
	  	1

  

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 BROADCASTING MEDIA PARTNERS, INC.

 2007 EQUITY INCENTIVE PLAN 
 SECTION 1. ESTABLISHMENT, PURPOSE & ELIGIBILITY. 
 a.
Establishment. Broadcasting Media Partners, Inc., a Delaware corporation (hereinafter referred to as the “Company”), together with Broadcast Media Partners Holdings, Inc. (solely with respect to grants covering shares of
Preferred Stock), establishes the 2007 Equity Incentive Plan (hereinafter referred to as the “Plan”) as set forth in this document. 
 b.
Purpose of the Plan. The purpose of this Plan is to attract, retain and motivate officers and employees of, consultants to, and non-employee directors providing services to, the Company and its Subsidiaries and Affiliates, to provide additional
incentives to employees, consultants and directors and to promote the success of the Company’s business. Unless the context otherwise requires, capitalized terms used herein are defined in Section 15. 
 c. Eligibility. Participants will consist of such Employees, Directors and Consultants as the Committee in its sole discretion determines and whom the Committee
may designate from time to time to receive awards under the Plan. 
 SECTION 2. ADMINISTRATION. 
 a. Committees. The Plan shall be administered by the Board of Directors or, at its election, by one or more committees consisting of one or more members who have
been appointed by the Board of Directors. The Committee shall have such authority and be responsible for such functions as may be delegated to it by the Board of Directors, and any reference to the Board of Directors in the Plan shall be construed
as a reference to the Committee with respect to functions delegated to it. If no Committee has been appointed, the entire Board of Directors shall administer the Plan. 
 b. Authority of the Board of Directors. The Committee shall have full authority and sole discretion to take any actions it deems necessary or advisable for the administration and operation of the Plan,
including, without limitation, the right to construe and interpret the provisions of the Plan or any Award, to provide for any omission in the Plan, to resolve any ambiguity or conflict under the Plan or any Award, to accelerate vesting of or
otherwise waive any requirements applicable to any Award, to extend the term or any period of exercisability of any Award, to modify the purchase price or exercise price under any Award, to establish terms or conditions applicable to any Award and
to review any decisions or actions made or taken by the Committee. The Committee shall have full and exclusive discretionary power to adopt rules, forms, instruments and guidelines of administering the Plan as the Committee deems necessary or
proper. All decisions, interpretations and other actions of the Committee or, in the absence of any action by the Committee, the Board of Directors shall be final and binding on all Participants and other persons deriving their rights from a
Participant. 
 SECTION 3. STOCK SUBJECT TO PLAN. 
 a.
Basic Limitation. Subject to the following provisions of this Section and Section 10, the maximum number of Shares that may be issued pursuant to Awards made under the Plan is (i) 775,000 shares of Class A Stock, (ii) 9,000
shares of Class L Stock and (iii) 22,000 shares of Preferred Stock, and such additional securities in such amounts and such classes as the Committee may approve. Shares may be treasury shares or authorized but unissued shares. 

 b. Additional Shares. In the event that any outstanding Award expires, is cancelled or otherwise terminated, any
rights to acquire Shares allocable to the unexercised or unvested portion of such Award shall again be available for the purposes of the Plan. In the event that Shares issued under the Plan are reacquired by the Company pursuant to any forfeiture
provision, right of repurchase, right of first offer or withholding requirements, such Shares shall again be available for the purposes of the Plan. In the event a Participant pays for any Award through the delivery of previously acquired Shares,
the number of Shares available under the Plan shall be increased by the number of Shares delivered by the Participant. 
 SECTION 4. AWARDS.

 a. Types of Awards. The Committee may, in its sole discretion, make Awards of one or more of the following: Options, Stock Appreciation Rights,
Restricted Stock Awards, Restricted Stock Units, Dividend Equivalent Rights and Other Stock-Based Awards. The Company shall make Awards directly or cause one or more of its Subsidiaries (including, without limitation, Broadcast Media Partners
Holdings, Inc.) to make Awards; provided, that the Subsidiaries shall, or the Company shall cause such Subsidiary to, comply with the terms of any Award and the Plan. 
 b. Award Agreements. Each Award made under the Plan shall be evidenced by a written Award Agreement between the Participant and the Company, and no Award shall be valid without any such Award Agreement. An
Award shall be subject to all applicable terms and conditions of the Plan and to any other terms and conditions which the Committee in its sole discretion deems appropriate for inclusion in the Award Agreement provided such terms and conditions are
not inconsistent with the Plan. Accordingly, unless an Award Agreement specifically states otherwise, in the event of any conflict between the provisions of the Plan and any Award Agreement, the provisions of the Plan shall prevail. Awards made to
California Participants shall also be subject to the applicable requirements set forth in Appendix I. Each Award Agreement shall provide, in addition to any terms and conditions required to be provided in such agreement pursuant to any other
provision of this Plan, the following terms: 
  

	 	(i)	Number of Shares. The number of Shares subject to the Award, if any, which number shall be subject to adjustment in accordance with Section 10 of the Plan.

  

	 	(ii)	Type of Shares. Whether the Award covers Shares that are Class A Stock, Class L Stock and/or Preferred Stock and also, with respect to Class A Stock or Class L
Stock, whether the Shares are voting or non-voting (i.e., Class A-1, A-2, L-1 or L-2). 

  

	 	(iii)	Termination of Service. The consequences of the Participant’s termination of Service with the Company or any Subsidiary or Affiliate. 

  

	 	(iv)	Vesting. The dates and events on which all or any installment of the Award shall be vested and nonforfeitable. 

 c. No Rights as a Shareholder. A Participant, or a transferee of a Participant, shall have no rights as a shareholder with respect to any Shares covered by an
Award until the Participant becomes the record holder of such Shares. 
  

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 SECTION 5. OPTIONS. 
 a. Option Agreement. The Committee, may in its sole discretion, grant Options. Each Award Agreement evidencing an Award of Options shall contain the following information, which shall be determined by the Committee, in its sole
discretion: 
  

	 	(i)	Exercise Price. The exercise price of an Option shall be determined by the Committee at the time of grant, but shall not be less than 100% of the Fair Market Value of a Share
subject to such Option on the date of grant. 

  

	 	(ii)	Exercisability. The dates and events when all or any installment of the Option becomes exercisable. 

  

	 	(iii)	Term. The term of each Option (including the circumstances under which such Option will expire prior to the stated term thereof), which shall not exceed ten (10) years
from the date of grant. 

 b. Method of Exercise. 
  

	 	(i)	General Rule. Except as otherwise provided in the Plan or any Award Agreement, an Option may be exercised for all, or from time to time any part, of the Shares for which it
is then exercisable. The exercise price of Shares issued under the Plan shall be payable in cash or personal check at the time when such Shares are purchased, except as otherwise provided in this Section 5(b). 

  

	 	(ii)	Surrender of Shares. At the sole discretion of the Committee, all or any part of the exercise price and any applicable withholding requirements may be paid by surrendering,
or attesting to the ownership of, Shares that are already owned by the Participant. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value on the date when the Option is exercised.
The Participant shall not surrender, or attest to the ownership of, Shares in payment of any portion of the purchase price (or withholding) if such Shares have been held by the Participant for less than six months or such action would cause the
Company or any Subsidiary to recognize a compensation expense (or additional compensation expense) with respect to the applicable Option for financial reporting purposes, unless the Committee consents thereto. 

  

	 	(iii)	Net Exercise. At the sole discretion of the Committee, payment of all or any portion of the exercise price and any applicable withholding requirements may be made by reducing
the number of Shares otherwise deliverable pursuant to the Option by the number of such Shares having a Fair Market Value equal to the exercise price. 

  

	 	(iv)	Exercise/Sale. At the sole discretion of the Committee, payment may be made in whole or in part by the delivery (on a form prescribed by the Company) of an irrevocable
direction (i) to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to the Company, or (ii) to pledge Shares to a securities broker or lender approved by the Company as security for
a loan, and to deliver all or part of the loan proceeds to the Company, in each case in payment of all or part of the exercise price and any withholding requirements. 

  

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	 	(v)	Exercise of Discretion. Should the Committee exercise its discretion to permit the Participant to pay the purchase price under an Award in whole or in part in accordance with
Subsections (ii) through (iv) above, it shall not be bound to permit such method of payment for the remainder of any such Option or with respect to any other Award or Participant under the Plan. 

 SECTION 6. STOCK APPRECIATION RIGHTS. 
 a. Generally. The
Committee may, in its sole discretion, grant Stock Appreciation Rights, including a concurrent grant of Stock Appreciation Rights in tandem with any Option. A Stock Appreciation Right means a right to receive, upon exercise, a payment in cash,
Shares, other property or a combination thereof in an amount equal to the excess of (i) the Fair Market Value of a number of Shares on the date the right is exercised over (ii) the Fair Market Value of such Shares on the date the right is
granted. If a Stock Appreciation Right is granted in tandem with an Option, such Stock Appreciation Right shall be exercisable only to the extent the related Option is exercisable and shall expire no later than the expiration of the related Option.
Upon the exercise of all or a portion of such Stock Appreciation Right, a Participant shall be required to forfeit the right to purchase an equivalent portion of the related Option (and vice versa). 
 b. Stock Appreciation Rights Award Agreement. Each Award Agreement evidencing an Award of Stock Appreciation Rights shall contain the following information, which
shall be determined by the Committee, in its sole discretion: 
  

	 	(i)	Grant Price. The grant price of the Shares above which a Participant shall be entitled to share in the appreciation in the value of such Shares (which shall not be less than
100% of the Fair Market Value of such Shares on the date of grant). 

  

	 	(ii)	Exercisability. The dates and events when all or any installment of the Stock Appreciation Rights becomes exercisable. 

  

	 	(iii)	Term. The term of each Stock Appreciation Right (including the circumstances under which such Stock Appreciation Right will expire prior to the stated term thereof), which
shall not exceed ten (10) years from the date of grant. 

 SECTION 7. RESTRICTED STOCK AWARDS AND RESTRICTED STOCK UNITS.

 a. Restricted Stock. An Award of Restricted Stock is a grant by the Company of a specified number of Shares to the Participant, which are
subject to certain specified restrictions, as set forth in the applicable Award Agreement. Unless otherwise provided in the applicable Award Agreement, unvested Restricted Stock shall be forfeited upon Participant’s termination of Service.
Further, unless otherwise set forth in the applicable Award Agreement, the Restricted Stock, whether unvested or vested, shall be forfeited upon Participant’s termination of Service for Cause. Upon or following a Participant’s termination
of Service, the Company shall have a call right with respect to any vested Shares on the terms set forth in the applicable Award Agreement. Participants shall be awarded Restricted Stock in exchange for consideration not less than the minimum
consideration required by applicable law (including, consideration of services previously rendered by the Participant to the Company or its Subsidiaries or Affiliates). 
  

 4 

 b. Restricted Stock Units. An Award of Restricted Stock Units is a grant by the Company of a specified number of
units which shall each represent one Share credited to a notional account maintained by the Company, with no Shares actually awarded to the Participant in respect of such units until the restrictions on such units have lapsed. The Committee retains
the discretion to determine whether the Restricted Stock Units shall be settled in Shares, in cash equal to the value of the Shares that would otherwise be distributed in settlement of such units, other property or any combination of the foregoing.
Shares distributed to settle a Restricted Stock Unit may be issued with or without payment or consideration therefor, except as may be required by applicable law or the Committee in its sole discretion, as set forth in the agreement evidencing the
Award. The Committee may, in its discretion, permit Participants to defer settlement of Restricted Stock Units, provided that any such deferral shall comply with the requirements of, and shall not result in the imposition of any tax under,
Section 409A of the Code. 
 c. Terms of Restricted Stock Awards and Restricted Stock Units. Each Award Agreement evidencing a Restricted Stock
or Restricted Stock Unit grant shall specify the terms of the period(s) of restriction, the number of Shares of Restricted Stock or the number of Restricted Stock Units, and such other provisions as the Committee shall determine. The Committee may
require that Restricted Stock be held by the Company during the applicable period of restriction. 
 SECTION 8. DIVIDEND EQUIVALENT RIGHTS.

 The Committee may grant Dividend Equivalents to Participants based on the dividends declared on Shares that are subject to any Award.
The grant of Dividend Equivalents shall be treated as a separate Award. Dividend Equivalents shall be credited to a notional account maintained by the Company, as of dividend payment dates during the period between the date the Award is granted and
the date the Award is exercised, vested, expired, credited or paid. Such Dividend Equivalents shall be converted to cash or Shares by such formula and at such time and subject to such limitations as may be determined by the Committee. As determined
by the Committee, Dividend Equivalents granted with respect to any Option or Stock Appreciation Right may be payable regardless of whether such Option or Stock Appreciation Right is subsequently exercised. 
 SECTION 9. OTHER STOCK-BASED AWARDS. 
 The Committee,
in its sole discretion, may grant Awards of Shares and Awards that are valued, in whole or in part, by reference to, or are otherwise based on, the Fair Market Value of Shares (the “Other Stock-Based Awards”). Such Other Stock-Based
Awards shall be in such form, and dependent on such conditions, as the Committee shall determine, including, without limitation, the right to receive one or more Shares (or the equivalent cash value of such Shares) upon the completion of a specified
period of Service, the occurrence of an event and/or the attainment of performance objectives. Subject to the provisions of the Plan, the Committee shall determine to whom and when Other Stock-Based Awards will be made, the number of Shares to be
awarded under (or otherwise related to) such Other Stock-Based Awards, whether such Other Stock-Based Awards shall be settled in cash, Shares or a combination of cash and Shares, and all other terms and conditions of such Awards (including, without
limitation, the vesting provisions thereof and provisions ensuring that all Shares so awarded and issued shall be fully paid and non-assessable). 
  

 5 

 SECTION 10. ADJUSTMENT OF SHARES. 
 a. General. If there shall be an event or series of events affecting the capital structure of the Company such as a stock split, reverse stock split, stock dividend, distribution, recapitalization, combination
or reclassification of the Company’s securities, an adjustment shall be made to each outstanding Award such that each such Award shall thereafter be exercisable or payable, as the case may be, in such securities, cash and/or other property as
would have been received in respect of Shares subject to (or referenced by such Award) had such Award been exercised and/or settled in full immediately prior to such event and such an adjustment shall be made successively each time any such change
shall occur. In addition, in the event of any such event, to prevent dilution or enlargement of Participants’ rights under the Plan, the Committee shall, and will have the authority to adjust, in a fair and equitable manner, the number and kind
of Shares that may be issued under the Plan, the number and kind of Shares subject to outstanding Awards, and the purchase price applicable to outstanding Awards. Should the vesting of any Award be conditioned upon the Company’s attainment of
performance conditions, the Committee may make such adjustments to the terms and conditions of such Awards and the criteria therein to recognize unusual and nonrecurring events affecting the Company or in response to changes in applicable laws,
regulations or accounting principles, in a manner designed to make such performance conditions neither easier nor more difficult to attain than prior to such adjustment. 
 b. Change of Control. In the event of a Change of Control, unless otherwise specifically prohibited under applicable laws or by the rules and regulations of any governing governmental agencies or national
securities exchanges, or unless the Committee shall determine otherwise in the Award Agreement, the Committee is authorized (but not obligated) to make adjustments in the terms and conditions of outstanding Awards, including without limitation the
following (or any combination thereof): 
  

	 	(i)	The continuation or assumption of such outstanding Awards under the Plan by the Company (if it is the surviving corporation) or by the surviving corporation or its parent;

  

	 	(ii)	The substitution by the surviving corporation or its parent of stock awards with substantially the same terms for such outstanding Awards; 

  

	 	(iii)	The acceleration of the vesting of or right to exercise such outstanding Awards immediately prior to or as of the date of the merger or consolidation, and the expiration of such
outstanding Awards to the extent not timely exercised or purchased by the date of the merger or consolidation or other date thereafter designated by the Committee; or 

  

	 	(iv)	The cancellation of all or any portion of such outstanding Awards (other than Options and Stock Appreciation Rights) by a cash payment equal to the Fair Market Value of the Shares
subject to such outstanding Awards or portion thereof being canceled and with respect to Options and Stock Appreciation Rights, the cancellation of all or any portion of such outstanding Options and Stock Appreciation Rights by a cash payment equal
to the excess, if any, of the Fair Market Value of the Shares subject to such outstanding Awards or portion thereof being canceled over the exercise price or grant price, as applicable, with respect to such Options and Stock Appreciation Rights or
portion thereof being canceled (and, for the avoidance of doubt, if there is no such excess, such Options and Stock Appreciation Rights shall be cancelled without any payment therefor). 

  

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 SECTION 11. SECURITIES LAW REQUIREMENTS. 
 a. Shares Not Registered. Shares and Awards shall not be issued under the Plan unless the issuance and delivery of such Shares and any Awards comply with (or are exempt from) all applicable requirements of law,
including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, State securities laws and regulations, and the regulations of any stock exchange or other securities market on which the
Company’s securities may then be traded. Except as set forth in an Award Agreement, the Company shall not be obligated to file any registration statement under any applicable securities laws to permit the purchase or issuance of any Shares or
any Awards under the Plan, and accordingly any certificates for Shares or documents granting Awards may have an appropriate legend or statement of applicable restrictions endorsed thereon. If the Company deems it necessary to ensure that the
issuance of securities under the Plan is not required to be registered under any applicable securities laws, each Participant to whom such security would be purchased or issued shall deliver to the Company an agreement or certificate containing such
representations, warranties and covenants as the Company which satisfies such requirements. 
 b. California Participants. If an Award shall be made
to a Participant based in California, then such Award shall meet the additional requirements set forth in Appendix I. 
 SECTION 12. COMPLIANCE WITH
SECTION 409A OF THE CODE. 
 a. General. To the extent that the Plan and/or Awards are subject to Section 409A of the Code, the Committee
may, in its sole discretion and without a Participant’s prior consent, amend the Plan and/or Awards, adopt policies and procedures, or take any other actions (including amendments, policies, procedures and actions with retroactive effect) as
are necessary or appropriate to (i) exempt the Plan and/or any Award from the application of Section 409A of the Code, (ii) preserve the intended tax treatment of any such Award, or (iii) comply with the requirements of
Section 409A of the Code, Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date of the grant (“Section
409A Guidance”). This Plan shall be interpreted at all times in such a manner that the terms and provisions of the Plan and Awards are exempt from or comply with Section 409A Guidance. 
 b. Timing of Payment. All Awards that would otherwise be subject to Section 409A of the Code shall be paid or otherwise settled on or as soon as practicable
after the applicable payment date and not later than the 15th day of the third month from the end of (i) the Participant’s tax year that includes the applicable payment date, or (ii) the Company’s tax year that includes the
applicable payment date, whichever is later; provided, however, that the Committee reserves the right to delay payment with respect to any such Award under the circumstances set forth in Proposed Regulation Section 1.409A-3(h)(2), any successor
thereof or upon such other events and conditions as the Commissioner of the Internal Revenue Service may prescribe in generally applicable guidance published in the Internal Revenue Bulletin; provided, further, that notwithstanding any contrary
provision in the Plan or Award agreement, any payment(s) that are otherwise required to be made under the Plan to a “specified employee” (as defined under Section 409A of the Code) as a result of his or her separation from service
(other than a payment that is not subject to Section 409A of the Code) shall be delayed for the first six (6) months following 

  

 7 

 
such separation from service (or, if earlier, the date of death of the specified employee) and shall instead be paid (in a manner set forth in the Award
agreement) on the payment date that immediately follows the end of such six-month period or as soon as administratively practicable thereafter. 
 SECTION
13. DURATION AND AMENDMENTS. 
 a. Term of the Plan. The Plan, as set forth herein, shall become effective on the date of its adoption by the Board
of Directors, which date is set forth below, subject to the approval of the majority of the Company’s shareholders. If a majority of the shareholders fail to approve the Plan within 12 months of its adoption by the Board of Directors, any
Awards that have already been made shall be rescinded, and no additional Awards shall be made thereafter under the Plan. The Plan shall terminate automatically on the day preceding the tenth anniversary of its adoption by the Board of Directors
unless earlier terminated pursuant to Subsection (b) below. 
 b. Amendment, Modification, Suspension, and Termination of Plan. The Committee may
amend, alter, suspend, discontinue, or terminate the Plan or any portion thereof or any Award thereunder at any time; provided that no such amendment, alteration, suspension, discontinuation or termination shall be made (i) without shareholder
approval if such approval is necessary to comply with any tax or regulatory requirement applicable to the Plan and (ii) without the consent of the Participant, if such action would materially diminish any of the rights of any Participant under
any Award theretofore granted to such Participant under the Plan; provided, however, the Committee may amend the Plan, any Award or any Award agreement in such manner as it deems necessary to comply with applicable laws and as set forth in
Section 12. The termination of the Plan shall not affect any Awards outstanding on the termination date. 
 SECTION 14. GENERAL TERMS.

 a. Termination for Cause. Unless otherwise set forth in the applicable Award Agreement, all Shares issued with respect to any Award granted
under the Plan shall be forfeited upon Participant’s termination of Service for Cause. 
 b. No Retention Rights. Nothing in the Plan or in any
Award granted under the Plan shall confer upon a Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Subsidiary or Affiliate employing
or retaining the Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without cause. 
 c. Settlement of Awards; No Fractional Shares. Each Award Agreement shall establish the form in which the Award shall be settled. No fractional Shares shall be
issued or delivered pursuant to the Plan or any Award. The Committee shall determine whether cash, Awards, other securities or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any rights
thereto shall be rounded, forfeited or otherwise eliminated. 
 d. Nontransferability of Awards. Unless otherwise determined by the Committee,
an Award shall not be transferable or assignable by the Participant except in the event of his death (subject to the applicable laws of descent and distribution) and any such purported assignment, alienation, pledge, attachment, sale, transfer or
encumbrance shall be void and unenforceable against the Company or any Affiliate. An award exercisable after the death of a Participant may be exercised 

  

 8 

 
by the legatees, personal representatives or distributees of the Participant. Any permitted transfer of the Awards to heirs or legatees of the Participant
shall not be effective to bind the Company unless the Committee shall have been furnished with written notice thereof and a copy of such evidence as the Committee may deem necessary to establish the validity of the transfer and the acceptance by the
transferee or transferees of the terms and conditions hereof. 
 e. Conditions and Restrictions on Shares. Any Shares issued under the Plan shall be
subject to such vesting and special forfeiture conditions, repurchase rights, rights of first offer and other transfer restrictions as the Committee may determine. Such restrictions shall be set forth in the applicable Award agreement and shall
apply in addition to any restrictions that may apply to holders of Shares generally. 
 f. Withholding Requirements. The Company shall have the power
and the right to deduct or withhold, or require a Participant to remit to the Company, the minimum statutory amount to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any
taxable event arising as a result of the Plan. With respect to required withholding, Participants may elect, subject to the approval of the Committee (unless otherwise set forth in the applicable Award Agreement), to satisfy the withholding
requirement, in whole or in part, by having the Company withhold Shares having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax that could be imposed on the transaction. 
 g. Unfunded Plan. Participants shall have no right, title or interest whatsoever in or to any investments which the Company may make to aid it in meeting its
obligations under the Plan. Nothing contained in the Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, nor a fiduciary relationship between the Company and any Participant, beneficiary,
legal representative or any other person. To the extent that any person acquires a right to receive payments from the Company under the Plan, such right shall be no greater than the rights of an unsecured general creditor of the Company. All
payments to be made hereunder shall be paid from the general funds of the Company and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such amounts. The Plan is not intended to be
subject to the Employee Retirement Income Security Act of 1974, as amended. 
 h. Choice of 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. 
 SECTION 15.
DEFINITIONS. 
 Whenever capitalized in the Plan, the following terms shall have the meanings set forth below. 
 a. “Affiliate” shall mean any entity that the Company, either directly or indirectly, is in common control with, is controlled by or controls,
each within the meaning of the Securities Act. 
 b. “Award” shall mean the grant of an Option, Stock Appreciation Right, Restricted
Stock Award, Restricted Stock Unit, Dividend Equivalent Right or Other Stock-Based Award under the Plan as evidenced by a Notice of Award and Award Agreement relating thereto. 
  

 9 

 c. “Award Agreement” shall mean the Award agreement issued to a Participant in respect of an Award.

 d. “Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to time. 
 e. “Cause” shall mean “cause” as defined in any employment or other agreement between the Company and the Participant governing the
provision of Services by the Participant to the Company and its Affiliates, and shall be interpreted in accordance with the procedures set forth therein, or in the absence of such an agreement, that the Participant: (i) has been negligent in
the discharge of his or her duties to the Company or any of its subsidiaries or affiliates, has refused to perform stated or assigned duties or is incompetent in or (other than by reason of a disability or analogous condition) incapable of
performing those duties; (ii) has been dishonest or committed or engaged in an act of theft, embezzlement or fraud, a breach of confidentiality, an unauthorized disclosure or use of inside information, customer lists, trade secrets or other
confidential information with respect to the Company or any of its subsidiaries or affiliates; (iii) has breached a fiduciary duty, or willfully and materially violated any other duty, law, rule, regulation or policy of the Company or any of
its Subsidiaries or Affiliates or has been indicted for, or pled nolo contendere to, a felony or misdemeanor (other than minor traffic violations or similar offenses); (iv) has materially breached any of the provisions of any agreement with the
Company or any of its subsidiaries or affiliates or (v) has engaged in unfair competition with, or otherwise acted intentionally in a manner injurious to the reputation, business or assets of the Company or any of its subsidiaries or
affiliates, has improperly induced a vendor or customer to break or terminate any contract with the Company or any of its subsidiaries or affiliates or has induced a principal for whom the Company or any of its subsidiaries or affiliates acts as
agent to terminate such agency relationship. 
 f. “Change of Control”, except as otherwise set forth in the applicable Award
Agreement (and for the purposes set forth in such agreement), shall mean the occurrence of (i) any consolidation or merger of the Company with or into any other Person, or any other corporate reorganization, transaction or transfer of
securities of the Company by its stockholders, or series of related transactions (including the acquisition of capital stock of the Company), whether or not the Company is a party thereto, in which the stockholders of the Company immediately prior
to such consolidation, merger, reorganization or transaction, own, directly or indirectly, capital stock either (a) representing directly, or indirectly through one or more entities, less than fifty percent (50%) of the equity (measured by
economic value or voting power) of the Company or other surviving entity immediately after such consolidation, merger, reorganization or transaction or (b) that does not directly, or indirectly through one or more entities, have the power to
elect a majority of the entire board of directors or other similar governing body of the Company or other surviving entity immediately after such consolidation, merger, reorganization or transaction; (ii) any transaction or series of related
transactions, whether or not the Company is a party thereto, after giving effect to which in excess of fifty percent (50%) of the Company’s voting power is owned directly, or indirectly through one or more entities, by any Person and its
“affiliates” or “associates” (as such terms are defined in the Exchange Act) or any “group” (as defined in the Exchange Act), other than Qualified Institutional Investors (and in the case of a “group”,
excluding a percentage of such “group” equal to the percentage of the voting power of such group controlled by any Qualified Institutional Investors), excluding, in any case referred to in clause (i) or (ii), any initial public
offering or any bona fide primary or secondary public offering following the occurrence of an initial public offering; or (iii) a sale, lease or other disposition of all or 

  

 10 

 
substantially all of the consolidated assets of the Company. For the avoidance of doubt, none of the following shall, in and of itself, constitute a
“Change of Control”: (x) a spin-off or sale of one of the businesses of the Company or any subsidiary thereof, or a comparable transaction, or (y) a transaction in which, after giving effect thereto, the Qualified Institutional
Investors and their affiliates continue to own, directly or indirectly, more than fifty percent (50%) of the equity (measured by economic value or voting power) (A) of the Company or other surviving entity in the case of a transaction of
the sort described in clause (i) above, (B) of the Company in the case of a transaction of the sort described in clause (ii) above or (C) of the acquiring entity in the case of a transaction of the sort described in clause
(iii) above. Unless otherwise determined by the Committee, a Strategic Investor Transaction (as defined in the Stockholders Agreement) shall not constitute a Change of Control. 
 g. “Class A Stock” shall mean the Class A Common Stock, par value $.001 per share, of the Company, which is comprised of Class A-1 Common Stock and Class A-2 Common Stock.

 h. “Class L Stock” shall mean the Class L Common Stock, par value $.001 per share, of the Company, which is comprised of Class L-1
Common Stock and Class L-2 Common Stock. 
 i. “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.

 j. “Committee” shall mean a committee of the Board of Directors, as described in Section 2(a), or if none has been appointed,
the Board of Directors. 
 k. “Consultant” shall mean a person who performs bona fide services for the Company or an Affiliate or
Subsidiary as a consultant or advisor, excluding Employees and Directors 
 l. “Director” shall mean a member of the Board of
Directors, or the board of directors of an Affiliate or Subsidiary, who is not an Employee. 
 m. “Dividend Equivalent Right” shall
mean an Award that entitles the holder to receive for each eligible Share that is subject to (or referenced by) such Award an amount equal to the dividends paid on one Share at such time as dividends are otherwise paid to shareholders of the Company
or, if later, when the Award becomes vested. 
 n. “Employee” shall mean an individual who is a common-law employee of the Company or
an Affiliate or Subsidiary. 
 o. “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

 p. “Fair Market Value” except as otherwise set forth in the applicable Award Agreement (and for the purposes set forth in such
Award Agreement), shall mean, as of any date, the per Share value determined as follows: 
  

	 	(i)	If the Shares are listed on any established stock exchange or a national market system, the per Share Fair Market Value shall be the closing price for each share of such stock (or
the average of the closing bid and ask prices, if no sales were reported) on the date of determination (or, if no closing sales price or closing bid and ask prices were reported on that date, as applicable, on the last trading date such closing
sales price or closing bid and ask prices were reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable; 

  

 11 

	 	(ii)	If the Shares are regularly quoted on an automated quotation system (including the OTC Bulletin Board and the “Pink Sheets” published by the National Quotation Bureau,
Inc.) or by a recognized securities dealer, but selling prices are not reported, the per Share Fair Market Value shall be the mean between the high bid and low asked prices for a Share on the date of determination (or, if no such prices were
reported on that date, on the last date such prices were reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable; or 

  

	 	(iii)	In the absence of an established market for the Shares of the type described in (i) and (ii), above, the per Share Fair Market Value thereof shall be determined by the
Committee in good faith and in accordance with applicable provisions of Section 409A of the Code. 

 q. “Option”
shall mean a stock option not described in Section 422(b) of the Code granted under the Plan and entitling the holder to purchase Shares. 
 r.
“Other Stock-Based Award” shall mean any right granted under Section 9 of the Plan. 
 s. “Participant” shall mean any
eligible person as set forth in Section 1 to whom an Award is granted. 
 t. “Person” shall mean any individual, partnership,
corporation, company, association, trust, joint venture, limited liability company, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof. 
 u.”Preferred Stock” shall mean the 8.64% Cumulative Preferred Stock of Broadcast Media Partners Holdings, Inc., par value $0.001. 
 v. “Qualified Institutional Investors” shall mean (a) the MDP Investors, (b) the PEP Investors, (c) the SCG Investors,
(d) the THL Investors, (e) the TPG Investors, and (f) the respective Affiliates of the foregoing (as such terms are defined in the Stockholders Agreement). 
 w. “Restricted Stock Award” shall have the meaning described in Section 7(a). 
 x.
“Restricted Stock Unit” shall have the meaning described in Section 7(b). 
 y. “Securities Act” shall mean the
Securities Act of 1933, as amended. 
 z. “Service” shall mean the Participant’s service as an Employee, Director or Consultant.
For any purpose under this Plan, Service shall be deemed to continue while the Participant is on a bona fide leave of absence, if such leave was approved by the Company in writing or if continued crediting of Service for such purpose is expressly
required by the terms of such leave or by applicable law (as determined by the Company). 
  

 12 

 aa. “Share” shall mean either a share of Class A Stock, a share of Class L Stock or a share
of Preferred Stock, or such other class or kind of shares or other securities resulting from the application of Section 10. 
 bb. “Stock
Appreciation Right” shall have the meaning described in Section 6(a). 
 cc. “Stockholders Agreement” shall mean the
Stockholders Agreement by and among the Company, Broadcast Media Partners Holdings, Inc., Umbrella Acquisition, Inc. and Certain Stockholders of Broadcasting Media Partners, Inc., dated as of March 29, 2007, as amended from time to time.

 dd. “Subsidiary” shall mean any corporation (other than the Company), partnership, joint venture or other legal entity of which
the Company owns, directly or indirectly, more than 50% of the stock or other equity interests, the holders of which are generally entitled to vote for the election of the board of directors or other governing body of such corporation or other legal
entity. 
 * * * 
 [REMAINDER OF
PAGE INTENTIONALLY LEFT BLANK] 
  

 13 

 This Plan was duly adopted and approved by the Board of Directors of the Company by resolution at a meeting held on the
29th day of March, 2007 and the Board of Directors of Broadcast Media Partners Holdings, Inc. by resolution at a meeting held on the 29th day of March, 2007; and by a unanimous written consent of the shareholders of the Company dated March 29,
2007. 
  

			
	 BROADCASTING MEDIA PARTNERS, INC.

		
	 By:
	 	 /s/ C. Douglas Kranwinkle

		 	C. Douglas Krankwinkle
		
	 Title:
	 	Executive Vice President & General Counsel
	
	 BROADCAST MEDIA PARTNERS HOLDINGS,
INC.

		
	 By:
	 	 /s/ C. Douglas Kranwinkle

		 	 C. Douglas Krankwinkle

		
	 Title:
	 	Executive Vice President & General Counsel

 APPENDIX I 
 CALIFORNIA SECURITIES LAW REQUIREMENTS. 
 The terms of this Appendix I apply only to Awards that would be subject to
Section 25110 of the California Corporations Code or any successor law but for the exemption contained in Section 25102(o) of the California Corporation Code (or any successor law). For purposes of determining the applicability of the
California securities law requirements contained in this Subsection, all Awards shall be deemed made in the State in which the Participant is principally employed by the Company or any Subsidiary or Affiliate (as determined by the employer’s
records) on the date of grant or issuance of the Award. Except as modified by the provisions of this Appendix I, all the other relevant provisions of the Plan shall be applicable to such Awards. 
 (1) Number of Securities. At no time shall the total number of securities issuable upon exercise of all outstanding Options and the total number
of Shares provided for under this or any stock bonus or similar plan or agreement of the Company exceed the applicable percentage calculated in accordance with Title 10 California Code of Regulations, Chapter 3, Subchapter 2, Article 4, Subarticle
4, Section 260.140.45. 
 (2) Exercise Price. The Exercise Price of an Option shall not be less than one hundred (100%) of
the Fair Market Value on the date of grant (one hundred ten percent (110%) of the Fair Market Value on the date of grant for an Option granted to Ten Percent Shareholders). 
 (3) Purchase Price. The purchase price of an Award of Shares shall not be less than eighty-five percent (85%) of the Fair Market Value on the
date of issuance (one hundred percent (100%) of the Fair Market Value on the date of issuance for an Award granted to Ten Percent Shareholders); provided, however, that an Award may be granted in consideration of past Service. 
 (4) Vesting and Exercisability. Except in the case of an Option granted to a Consultant, officer of the Company (or any Subsidiary or Affiliate),
or any member of the Board of Directors, each Option shall become exercisable and vested with respect to at least twenty percent (20%) of the total number of Shares subject to such Option each year, beginning no later than one (1) year
after the date of grant. 
 (5) Repurchase Rights. Except in the case of an Award granted or issued to a Consultant, officer of the
Company (or any Subsidiary or Affiliate), or any member of the Board of Directors, any rights of the Company to repurchase Shares acquired under the Plan applicable to a Participant whose Service terminates: 
 a. Shall be exercised by the Company (if at all) within ninety (90) days after the date the Participant’s Service terminates (or for Shares upon
the exercise of an Award after termination of Service, within ninety (90) days after the date of such exercise) and shall terminate on the date of an initial public offering, and 
  

 A-1 

 b. Shall lapse at the rate of at least twenty percent (20%) of the Shares subject to such Award per
year (regardless of the portion of the Award exercised or exercisable), with the initial lapse to occur no later than one (1) year after the date of grant, to the extent the repurchase right permits repurchase at less than Fair Market Value.
Any repurchase right shall not be exercisable for less than the original purchase price paid by a Participant. 
 (6) Limited Transferability
Rights. 
 a. An Option or other right to acquire shares may, to the extent permitted by the Board of Directors, be assigned in whole or in
part during the Participant’s lifetime (1) as a gift to one or more members of the Participant’s immediate family or (2) by instrument to an inter vivos or testamentary trust in which such Award is to be passed to beneficiaries
upon the death of the trustor (settlor). The terms applicable to the assigned portion shall be the same as those in effect for the Award immediately prior to such assignment and shall be set forth in such documents issued to the assignee as the
Board of Directors may deem appropriate. 
 b. Except as provided in Subsection (A) above, an Award may not be assigned or transferred
other than by will or by the laws of descent and distribution following the Participant’s death. 
 (7) Financial Reports. The
Company shall deliver a financial statement at least annually to each Participant holding Awards or Shares issued under the Plan, unless such Participant is a key employee whose duties in connection with the Company assure such individual access to
equivalent information. 
  

 A-2Form of Restricted Stock Award Agreement

 Exhibit 10.18 
 Broadcasting Media Partners, Inc. 
 2007 Equity Incentive Plan 
 Restricted Stock Award Agreement 
 Reference Number: 2007-SE 
 SECTION 1. GRANT OF RESTRICTED STOCK AWARD. 
 (a) Award. On the terms and conditions set forth in this Agreement and each Notice of Restricted Stock Award referencing this Agreement (the “Notice”), Broadcasting Media Partners, Inc. (the
“Company”) hereby grants the Participant a number of Shares (the “Granted Shares”) at the Purchase Price and under the terms set forth in the Notice, pursuant to and in accordance with the terms of the Broadcasting Media
Partners, Inc. 2007 Equity Incentive Plan (“Plan”). Each Notice, together with this referenced Agreement, shall be a separate award governed by the terms of this Agreement and the Plan (except to the extent otherwise set forth in the
Notice). 
 (b) Stockholders Agreement. As a condition to the grant and effectiveness of this Award, the Participant shall enter into and execute the
Stockholders Agreement. 
 (c) Equity Incentive Plan and Defined Terms. This Award is granted under and subject to the terms of the Plan. Capitalized
terms are defined in Section 10 of this Agreement and in the Plan. 
 SECTION 2. ISSUANCE OF SHARES. 
 (a) Stock Certificates. The Company shall cause to be issued a certificate or certificates for the Granted Shares representing this Award, registered in the name
of the Participant. Unless otherwise determined by the Company, such certificate shall bear the following legend: 
 THE VOTING OF THE
SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE, AND THE SALE, ENCUMBRANCE OR OTHER DISPOSITION THEREOF, ARE SUBJECT TO THE PROVISIONS OF THIS RESTRICTED STOCK AWARD AGREEMENT. SUCH AGREEMENT INCLUDES RESTRICTIONS AND LIMITATIONS ON THE TRANSFER OF
THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE. 
 (b) Rights as Shareholder. Until such time as the Granted Shares are forfeited in
accordance with the terms of this Agreement, the Participant (or any successor in interest) shall have all the rights of a shareholder (including dividend and liquidation rights) with respect to the Granted Shares; provided, however, that to the
extent Granted Shares are not vested, any dividends or other distributions made with respect to the Granted Shares shall be held in escrow, as described below. 
  

 (c) Escrow. For so long as any Granted Shares are not vested, the Company shall cause the certificate or
certificates representing such unvested Granted Shares to be deposited in escrow. The Participant shall deliver to the Company a duly-executed blank Stock Power (in the form attached hereto as Exhibit A), which shall be effective as to the
certificate or certificates representing such unvested Granted Shares. Dividends and other distributions made with respect to unvested Granted Shares shall be held in escrow and distributed with such Granted Shares when the Granted Shares become
vested in accordance with the terms of this Agreement and the Notice. Any new, substituted or additional securities or other property described in Section 7(f) below paid, distributed or otherwise obtained by the Participant in respect of
unvested Granted Shares shall be immediately delivered to the Company to be held in escrow. 
 (d) Termination of Escrow. Unvested Granted Shares
together with any other assets or securities held in escrow hereunder, shall be (i) surrendered to the Company for repurchase and cancellation upon the forfeiture of such Shares or (ii) released to the Participant to the extent the Granted
Shares have become vested (including other assets or securities held in escrow hereunder in respect of such Granted Shares). 
 (e) Voting Rights. The
Participant hereby appoints each Principal Investor as its proxy to vote the Granted Shares (vested and unvested), whether at a meeting or by written consent in accordance with the provisions of Section 2 of the Stockholders Agreement (whether
or not the Participant is required by the Company to execute a joinder to the Stockholders Agreement pursuant to Section 4 hereof). The proxy granted hereby is irrevocable and coupled with an interest sufficient in law to support an irrevocable
power. Solely with respect to Participants who have executed a joinder to the Stockholders Agreement, this proxy shall not be used to affect any amendment pursuant to the Stockholders Agreement and Registration Rights Agreement, which, by its terms,
Discriminates (as defined in the Registration Rights Agreement) against the holders of Management Shares (as such term is defined in the Stockholders Agreement); provided that it is understood and agreed that, for the purposes of interpreting
and enforcing this proxy, amendments that affect all Stockholders (as such term is defined in the Stockholders Agreement) will not be deemed to Discriminate against the holders of Management Shares simply because holders of such shares (i) own
or hold more or less Shares than any other Stockholders, (ii) invested more or less money in the Company or its direct or indirect subsidiaries than any other Stockholders or (iii) have greater or lesser voting rights or powers than any
other Stockholders. Notwithstanding the above, this paragraph 2(e) shall cease to apply as to any such Shares upon the termination of the Stockholders Agreement as to such Shares. 
 (f) No Fractional Shares. No scrip or fractional certificates will be issued with respect to any of the Granted Shares. If a Participant would otherwise be entitled to receive fractional Shares in respect of
the Granted Shares, the Company shall round the number of Shares to be received to the closest whole Share; provided that in no event shall a Participant receive more than the total number of Granted Shares subject to the Award. If the number of
Shares received by a Participant has been rounded down, the 

  

 2 

 
Company shall record the amount of such fractional Shares in a book entry account and shall issue one or more whole Shares in respect of such amount on the
last vesting date applicable to such Award; provided, however, if a Participant’s account is credited with fractional Shares on the date immediately prior to the expiration or termination of an Award, the Company shall pay the Participant cash
in lieu of such fractional Shares. 
 SECTION 3. TAX ISSUES. 
 (a) Section 83(b) Election. The Participant may make an election under Section 83(b) of the Code with respect to this Award. Section 83 of the Code provides that the Participant is not subject to federal income tax
until the Granted Shares have become vested. If the Participant makes a Section 83(b) election, the Participant would recognize income as of the date of the award in the amount of the excess of the fair market value of the award (determined as
of the date of the award) over the purchase price for such award. A Section 83(b) election must be filed with the Internal Revenue Service within thirty (30) days after the date of this Award—even if no tax is duepayable. The
form for making a Section 83(b) election is attached as Exhibit B. The Participant acknowledges that it is the Participant’s sole responsibility to timely file the Section 83(b) election and that failure to file a
Section 83(b) election within the applicable thirty (30) day period may result in the recognition of ordinary income when the Granted Shares vest. If the Participant makes a Section 83(b) election, the Participant shall be
required to file promptly a copy of such election with the Company. 
 (b) Withholding Taxes. The Company may withhold any tax (or other governmental
obligation) as a result of the grant of this Award and/or the filing of a Section 83(b) election as a condition to the grant of this Award, and the Participant shall make arrangements satisfactory to the Company to enable it to satisfy all such
withholding requirements. 
 SECTION 4. SECURITIES LAW ISSUES. 
 (a) Securities Not Registered. The Granted Shares have not been registered under the Securities Act. The Granted Shares are being issued to the Participant in reliance upon either (i) the exemption from such registration
provided by Rule 701 promulgated under the Securities Act for stock issuances under compensatory benefit plans such as the Plan or, (ii) the exemption for grants made to executive officers of the Company (or one of its Affiliates or
Subsidiaries) under Section 4(2) and Regulation D of the Securities Act. 
 (b) Participant Representations. The Participant hereby confirms that
he or she has been informed that the Granted Shares are “restricted securities” under the Securities Act which may not be resold or transferred unless they are first registered under the Securities Act or unless an exemption from such
registration is available. Accordingly, the Participant hereby represents and acknowledges as follows: 
  

	 	(i)	The Granted Shares are being acquired for investment, and not with a view to sale or distribution thereof; 

  

 3 

	 	(ii)	The Participant is prepared to hold the Granted Shares for an indefinite period and is aware that Rule 144 promulgated under the Securities Act (which exempts certain resales of
securities) is not presently available to exempt the resale of the Granted Shares from the registration requirements of the Securities Act. 

  

	 	(iii)	The Participant is an “accredited investor” within the meaning of Rule 501(e) of Regulation D of the Securities Act by virtue of the Participant’s position with the
Company, income, assets or otherwise. 

 (c) Registration. The Company may, but shall not be obligated, to register or qualify the
Granted Shares under the Securities Act or any other applicable law, except, solely with respect to Participants who are signatories to or have executed a joinder with respect to the Registration Rights Agreement (in respect of the Granted Shares),
as required under the Registration Rights Agreement. 
 (d) Additional Restrictions. The Granted Shares are subject to such additional restrictions as
are set forth in the Stockholders Agreement and any employment or consulting agreement between the Participant and the Company or any Subsidiary or Affiliate, as well as such other restrictions that in the judgment of the Company are legally
required to achieve compliance with the Securities Act or the securities laws of any state or any other law. 
 (e) Participant Undertaking. The
Participant agrees to take whatever additional actions and execute whatever additional documents that in the judgment of the Company are required to carry out or effect one or more of the obligations or restrictions imposed on either the Participant
or the Granted Shares pursuant to the provisions of this Agreement or to comply with applicable laws. 
 SECTION 5. TRANSFER OF GRANTED SHARES

 (a) General Rule. Other than as set forth herein, the Granted Shares may not be transferred to any person other than to the Company or to a
Permitted Transferee in accordance with the terms of the Stockholders Agreement or any other applicable agreement entered into by the Company and the Participant. Notwithstanding the above, this paragraph 5(a) shall cease to apply as to any vested
Granted Shares upon an Initial Public Offering, subject to the Stockholders Agreement or any other applicable agreement entered into by the Company and the Participant. 
 (b) Transferee Obligations. If the Granted Shares are transferred to a Permitted Transferee, such Permitted Transferee must, as a condition precedent to the validity of such transfer, acknowledge in writing to
the Company that such person is bound by the provisions of this Agreement to the same extent such Shares would be so subject if retained by the Participant. 
  

 4 

 (c) Drag-Along Rights. The Granted Shares, whether vested or unvested, shall be subject to the Drag-Along Rights
as set forth in Sections 4.2 and 4.3 of the Stockholders Agreement (whether or not the Participant is a signatory thereof), the provisions of such Sections 4.2 and 4.3 of the Stockholders Agreement to apply mutatis mutandis to this Agreement. The
Participant shall be deemed to have appointed each member of the Principal Investors, with full power of substitution, as the Participant’s true and lawful representative and attorney-in-fact, in such Participant’s name, place and stead,
to execute and deliver any and all agreements that the members of the Principal Investors reasonably believe are consistent with the purposes of Sections 4.2 and 4.3 of the Stockholders Agreement. The foregoing power of attorney is coupled with an
interest and shall continue in full force and effect notwithstanding the subsequent death, incapacity, bankruptcy or dissolution of any Participant. 
 (d)
Tag-Along Rights. The Granted Shares shall be subject to the Tag-Along Rights as, and to the extent, set forth in Section 4.1 of the Stockholders Agreement (whether or not the Participant is a signatory thereof), the provisions of such
Section 4.1 of the Stockholders Agreement to apply mutatis mutandis to this Agreement. 
 (e) Additional Shares or Substituted Securities. In the
event of the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the
Company’s outstanding securities without receipt of consideration, any new, substituted or additional securities or other property (including money paid other than as an ordinary cash dividend) which are by reason of such transaction
distributed with respect to any of the Granted Shares or into which such Granted Shares thereby become convertible shall immediately be subject to this Section 5. 
 SECTION 6. FORFEITURE. 
 (a) General. Unless the Granted Shares have become vested in accordance with the terms
of the Notice, except as expressly set forth in the Notice, the Granted Shares shall be forfeited upon Participant’s termination of Service for any reason and Participant shall only be entitled a cash payment equal to the lesser of Fair Market
Value on the date of such termination and the Purchase Price paid by the Participant for such forfeited Shares. The Company shall pay the repurchase price in cash, except to the extent that such payment would cause a default in a credit arrangement
to which the Company is subject. If the Company cannot make the payment in cash pursuant to the preceding sentence, it shall issue a promissory note with a principal amount equal to the difference between the amount of the repurchase price which was
not paid in cash, on which interest will accrue on the principal thereof at a rate equal to the prime rate on the date of issuance plus three percent, under which the principal, together with the interest thereon, will become due and payable in
three equal annual installments, payable on the first, second and third anniversaries of the date of issuance thereof. 
  

 5 

 (b) Termination of Service for Cause. Except as expressly set forth in the Notice, the Granted Shares, whether
vested or unvested, shall be forfeited without payment therefor in the event the Participant’s Service is terminated for Cause. 
 (c) Additional
Shares or Substituted Securities. In the event of the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a
recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or additional securities or other property (including money paid other than as an ordinary cash
dividend) which are by reason of such transaction distributed with respect to any of the Granted Shares subject to this Section 6 or into which such Granted Shares thereby become convertible shall immediately be subject to this Section 6.

 (d) Termination of Rights as Shareholder. Upon a forfeiture as described in this Section 6, the Participant (or Participant’s Permitted
Transferee) shall no longer have any rights as a holder of such Shares (other than the right to receive the cash payment described in this Section 6). 
 SECTION 7. CALL RIGHT. 
 (a) Call Right. If the Participant’s Service with the Company ceases for any reason other than a
termination for Cause (upon which the Granted Shares shall be forfeited in accordance with Section 6), the Company shall have the right (but not an obligation) to call any Granted Shares that have vested, or that may vest any time thereafter,
if any. 
 (b) Exercise Notice. In the event the Company wishes to exercise its Call Right, the Company shall notify the Participant (or any Permitted
Transferee to whom the Granted Shares have been transferred) by written notice that the Company has elected to exercise such right, and the number of Shares with respect to which the right is being exercised. 
 (c) Execution of Call. The closing of any purchase and sale pursuant to the Call Right shall take place at the principal office of the Company as soon as
reasonably practicable and in no event later than thirty (30) days after the date of the Company’s exercise notice described in Section 7(b) or at such other time and location as the parties to such purchase may mutually determine.

 (d) Purchase Price. If the Company exercises the Call Right, the Participant shall sell, and shall cause any Permitted Transferee to whom Shares
have been transferred to sell (and such Permitted Transferee shall sell), to the Company all of the Granted Shares subject to the Call Right and the Company shall purchase each such Granted Share for its Fair Market Value on the date of the closing.
The Company shall make commercially reasonable efforts, as determined by the Board of Directors in good faith, to pay all or 

  

 6 

 
any portion of the repurchase price in cash. However, if the Company cannot make all or any portion of the payment in cash it shall issue a promissory note
with a principal amount equal to the amount of the repurchase price which was not paid in cash (e.g., the full amount or a portion thereof, as applicable), on which interest will accrue on the principal thereof at a rate equal to the higher of
(i) the underpayment rate in respect of certain installment sales under Section 453 of the Internal Revenue Code of 1986, as amended, if applicable, and (ii) prime rate plus two percent, under which the principal, together with the
interest thereon, will become due and payable, to the extent commercially reasonable (as determined by the Board of Directors), in three equal annual installments, payable on the first, second and third anniversaries of the date of issuance thereof.

 (e) Lapse of Rights. The Notice shall specify the date, if any, on which the Call Right shall lapse. 
 (f) Additional Shares or Substituted Securities. In the event of the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a
form other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or additional
securities or other property (including money paid other than as an ordinary cash dividend) which are by reason of such transaction distributed with respect to any of the Granted Shares subject to the Call Right or into which such Granted Shares
thereby become convertible shall immediately be subject to this Section 7. 
 (g) Termination of Rights as Shareholder. If the Company makes
available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Granted Shares to be purchased in accordance with this Section 7, then after such time the person from whom such Granted Shares
are to be purchased shall no longer have any rights as a holder of such Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such Granted Shares shall be deemed to have been purchased in
accordance with the applicable provisions hereof, whether or not the certificate(s) therefor have been delivered as required by this Agreement. 
 SECTION
8. MISCELLANEOUS PROVISIONS. 
 (a) No Retention Rights. Nothing in this Agreement or in the Plan shall confer upon the Participant any right to
continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Subsidiary or Affiliate employing or retaining the Participant) or of the Participant, which rights are
hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without cause. 
 (b) Notification. Any
notice required by the terms of this Agreement shall be given in writing and shall be deemed effective upon personal delivery or upon deposit with the United States Postal Service, by registered or certified mail, or a nationally recognized 

  

 7 

 
overnight express mail service with postage and fees prepaid. Notice shall be addressed to the Company at its principal executive office and to the
Participant at the address that he or she most recently provided to the Company. 
 (c) Entire Agreement. This Agreement, the Notice, the Plan, the
Stockholders Agreement (or such other stockholders agreement entered into between the Company and the Participant) and any employment or consulting agreement between the Participant and the Company constitute the entire contract between the parties
hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) which relate to the subject matter hereof. 
 (d) 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. 
 (e) 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 upon the Participant, the Participant’s assigns and the legal representatives, heirs and legatees of the Participant’s estate, whether or not any such person shall have become a party to this Agreement
and have agreed in writing to be join herein and be bound by the terms hereof. 
 (f) Choice of 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. 
 SECTION 9. DEFINITIONS. 
 (a) “Agreement” shall mean this Restricted Stock Award Agreement. 
 (b) “Call Right” shall mean the Call Right described in Section 7 of this Agreement. 
 (c) “Company” shall have the meaning described in Section 1(a) of this Agreement. 
 (d)
“Company Securities” shall mean collectively the Class A Stock, Class L Stock and Preferred Stock, or such other class or kind of shares or other securities resulting from an event described in Section 10 of the Plan, and
when used with respect to an Investment, only such securities used in the calculation of such Investment, and solely for purposes of determining cash proceeds or other cash distributions in respect of Company Securities, “Company
Securities” shall include non-cash proceeds in respect of and other securities in exchange for Company Securities. 
 (e) “Disability”
shall mean “disability” as defined in any employment or other agreement between the Company and the Participant governing the provision of Service by the Participant to the Company and its Affiliates, and shall be interpreted in 

  

 8 

 
accordance with the procedures set forth therein. In the absence of such an agreement, “Disability” shall mean the Participant is unable to engage
in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. 
 (f) “Fair Market Value”, for purposes of the Notice and Section 6 and Section 7 hereof, and except as otherwise modified in the Notice, shall
mean with respect to any Share (i) prior to an Initial Public Offering, the fair value of such Share based on an independent, third party valuation obtained by the Company from a nationally recognized appraiser and without any liquidity or
minority discounts and (ii) on and after an Initial Public Offering, Fair Market Value shall mean the average closing price of a Share over a period of 90 calendar days (45 days before and 45 days after the date of such valuation or, if the
Shares are not publicly traded during any portion of such period, such other 90-day period that most closely resembles that period) (subject to appropriate equitable adjustments if Company Securities, other than the Shares, remain outstanding at the
time of determination). Prior to an Initial Public Offering, when determining the Fair Market Value, the Participant may obtain a second independent, third party valuation from a nationally recognized appraiser. In the event the Participant’s
valuation is within ten percent (10%) of the Company’s valuation, the average of the two valuations shall be used. In the event the Participant’s valuation is greater than one hundred ten percent (110%) of the Company’s
valuation, the Company and the Participant shall submit to binding baseball-type arbitration before a single arbitrator, conducted in accordance with the commercial arbitration rules of the AAA. The Company shall pay the reasonable costs of the
arbitrator. If the arbitrator selects the Participant’s valuation, the Company shall reimburse the Participant for the reasonable cost of the Participant’s valuation and the Participant’s reasonable legal fees in conducting the
arbitration. 
 (g) “Good Reason” shall mean “good reason” as defined in any employment or other agreement between the Company and
the Participant governing the provision of Service by the Participant to the Company and its Affiliates, and shall be interpreted in accordance with the procedures set forth therein. In the absence of such an agreement, there shall be no good
reason. 
 (h) “Granted Shares” shall have the meaning described in Section 1(a) of this Agreement. 
 (i) “Initial Public Offering” shall mean (i) “initial public offering” as defined in the Stockholders Agreement and (ii) Company
Securities otherwise becoming traded on a national securities exchange. 
 (j) “Internal Rate of Return” shall mean with respect to the
Principal Investors as of any date on which such return is to be determined, the annual percentage rate, which when utilized to calculate the present value of the dividends or cash distributions in respect of Company Securities received by the
Principal Investors (excluding 

  

 9 

 
compensation for services) (i.e., cash inflows) shall cause such present value to equal the present value of the Investment made by the Principal
Investors (i.e., cash outflows). In order for the Principal Investors to receive a positive Internal Rate of Return, the Principal Investors must receive an aggregate amount equal to (a) the aggregate Investment plus (b) a return
thereon. The Internal Rate of Return with respect to the Principal Investors, at any date on which such return is to be determined, shall be computed with annual compounding and by the Board of Directors in its good faith discretion. 
 (k) “Investment” shall mean, with respect to any person, the total amount invested by such person, as of March 29, 2007, to acquire the Company
Securities. 
 (l) “Notice” shall have the meaning described in Section 1(a) of this Agreement. 
 (m) “Participant” shall mean the person named in the Notice. 
 (n) “Permitted Transferee” shall mean “permitted transferee” as defined in the Stockholders Agreement. 
 (o)
“Plan” shall have the meaning described in Section 1(a) of this Agreement. 
 (p) “Principal Investors” shall mean the
“principal investors” as defined in the Stockholders Agreement. 
 (q) “Protected Termination” shall mean, with respect to a
Participant, a termination of such Participant’s Service (i) by the Company without Cause, (ii) due to the Participant’s death or Disability, or (iii) by the Participant with Good Reason. 
 (r) “Qualified Public Offering” shall mean a “qualified public offering” as defined in the Stockholders Agreement. 
 (s) “Registration Rights Agreement” shall mean the Participation, Registration Rights and Coordination Agreement by and among the Company, Broadcast
Media Partners Holdings, Inc., Umbrella Acquisition, Inc. and Certain Persons who will be stockholders of the Company, dated as of March 29, 2007, as amended from time to time. 
 (t) “Share” shall mean a share of Class A-1 Common Stock of the Company, par value of $.001 per Share, or any security which is exchanged therefor, in any case as may be adjusted in accordance
with Section 10 of the Plan (if applicable). 
 (u) “Stockholders Agreement” shall mean the Stockholders Agreement by and among the
Company Broadcast Media Partners Holdings, Inc., Umbrella Acquisition, Inc. and Certain Stockholders of Broadcasting Media Partners, Inc., dated as of March 29, 2007, as amended from time to time. 
  

 10 

 EXHIBIT A 
 STOCK POWER 
 FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto Broadcasting Media Partners, Inc. (the “Company”),                     
(                    ) shares of the Class A-1 common stock, par value $.001 per share, of the Company standing in his/her/their/its name
on the books of the Company represented by Certificate No.                      herewith and does hereby irrevocably constitute and appoint
                     his/her/their/its attorney-in-fact, with full power of substitution, to transfer such shares on the books of the Company.

  

											
	 Dated:
	 	  
	 		 	Signature:	 	  
	 	

  

			
	 Print Name and Mailing Address
	 	
		
	  
	 	
		
	  
	 	
		
	  
	 	

  

			
	Instructions:	 	Please do not fill in any blanks other than the signature line and printed name and mailing address. Please print your name exactly as you would like your name to appear on the issued stock
certificate. The purpose of this assignment is to enable the forfeiture of the Shares without requiring additional signatures on your part.

 EXHIBIT B 
 Section 83(b) Election 
 This statement is being made under Section 83(b) of the Internal Revenue Code,
pursuant to Treas. Reg. Section 1.83-2. 
  

	(1)	The taxpayer who performed the services is: 

  

											
	 Name:
	 	  
	 	
			
	 Address:
	 	  
	 	
			
	 Social Security Number:
	 	  
	 	

  

	(2)	The property with respect to which the election is being made is
                     shares of the class A-1 common stock, par value $.001 per share, of Broadcasting Media Partners, Inc.

  

	(3)	The transferor of the property is Broadcasting Media Partners, Inc. 

  

	(4)	The property was issued on                     . 

 

	(5)	The taxable year in which the election is being made is the calendar year 2007. 

  

	(6)	Unless the property has become vested, the property shall be subject to forfeiture upon certain circumstances, including upon certain terminations of employment, and upon such
forfeiture, the issuer has the right to acquire the property at the lower of fair market value or the original purchase price, at any time prior to the vesting date. Subject to accelerated vesting in certain circumstances, the property will vest in
a series of installments over a five-year period and is also subject to certain performance vesting. 

  

	(7)	The fair market value at the time of transfer (determined without regard to any restriction other than a restriction which by its terms will never lapse) is
$             per share. 

  

	(8)	The amount paid for such property is $             per share. 

  

	(9)	A copy of this statement was furnished to Broadcasting Media Partners, Inc. for whom taxpayer rendered the services underlying the transfer of property. 

  

	(10)	This statement is executed on                     .

 Taxpayer Signature 
 This
election must be filed with the Internal Revenue Service Center with which taxpayer files his or her Federal income tax returns and must be made within thirty (30) days after the Date of Grant. This filing should be made by registered or
certified mail, return receipt requested. The taxpayer should retain two (2) copies of the completed form for filing with Federal and state tax returns for the taxpayer’s current tax year and an additional copy for the taxpayer’s
records.

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