Document:

Blueprint

 

EXHIBIT
10.2

 

Form of
Gary Pickett Employment Agreement

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement (“Agreement”),
effective as of the 25th
day of September 2018 (“Effective Date”), is
entered into by and between Medite Cancer Diagnostics, Inc., a
Delaware corporation (the “Company”), and Gary Pickett (the
“Employee”).

 

WITNESSETH:

 

WHEREAS,
the Company is a corporation existing and authorized to do business
in the state of Florida; and

 

WHEREAS,
the Company is desirous of securing Employee’s services and
Employee is willing to provide such services under the terms and
conditions set forth in this Agreement.

 

NOW, THEREFORE, for and in consideration of the mutual
covenants contained herein, the sufficiency of which is hereby
acknowledged, Company and Employee (each, a “Party,”
and collectively, the “Parties”) agree as
follows:

 

1)
EMPLOYMENT OF EMPLOYEE: The Company hereby agrees to employ the
Employee, and the Employee hereby agrees to accept said employment
pursuant to the terms and conditions of this
Agreement.

 

2)
DUTIES: The Employee shall render, as a full-time employee,
professional services as Chief Financial Officer,
reporting to the Company’s Chief Executive Officer and
shall perform such additional duties as may be assigned to the
Employee. The Employee agrees to devote all his time and efforts to
the performance of his duties hereunder, except for customary
vacations and reasonable absences due to illness, or other
incapacity, as set forth herein, and to perform all his duties to
the best of his professional ability and to comply with the
policies, standards, and regulations of the Company as are from
time to time established by executive management.

 

3)
TERM: The initial term of employment under this Agreement shall
commence on the Effective Date and shall continue until
August 31, 2020 or
until terminated as hereinafter provided (the “Term”).
The Term shall be automatically extended for an additional one-year
period unless the Company provides the Employee with notice of its
intention not to renew this Agreement.

 

4)
COMPENSATION: For all services rendered to the Company, the
Employee agrees to accept as total compensation the following,
payable where appropriate in accordance with the Company’s
standard payroll procedures, established and approved by the
Company Board of Directors, as amended:

 

a.

An initial base
salary of $90,000
per year (the “Base Compensation”).

 

b.

An increase of Base
Compensation to $120,000 on January 1,
2019.

 

c.

A signing bonus
equal to 24 days of salary at the amount stated in 4) a.
above.

 

d.

Starting
January 1, 2019 and
for the Term of this Agreement the Employee will be eligible to
receive an annual bonus (the “Annual Bonus”), amount to
be determined by the Compensation Committee, based on such criteria
as determined in the reasonable discretion of the Board of the
Directors. For purposes of payment timing, the Annual Bonus will be
divided into two sets of milestones, with one set of milestones
paid as they are achieved during the year, and the other set
payable between January 1 and March 15 in the year immediately
following the year in which the Annual Bonus, if any, is earned.
Executive must be employed by the Company on the date on which the
Annual Bonus is paid in order to receive the Annual Bonus for that
year. The Board of Directors will have the sole discretion to
establish any applicable bonus criteria, to determine whether and
to what extent the criteria have been met, to determine whether to
pay an Annual Bonus, and to determine the amount of the Annual
Bonus.

 

e.

Subject to formal
approval by the Board of Directors, a grant of options, amount to
be determined within 30 days of the date of this Agreement, of the
Company stock (trading symbol: MDIT) with an exercise price of the
share price of close of business the day of options grant, with a
vesting structure as follows:

 

-
1/3 of the total options
will vest at each anniversary date of this Agreement for the
next 3 years.

 

Upon
the occurrence of a Change-in-Control Event as defined in 10.f. any
remaining unvested options (if any) will become vested. The option
plan describing the terms and conditions of the grant of these
options will be approved and adopted by the Board no later than
September 30, 2018.

 

 

 

 

5)
VACATION/SICK: The Employee shall be entitled to a vacation with
full pay of three (3) weeks during each 12-month period of
Employee’s employment hereunder, or proration thereof. The
scheduling of any vacation shall be coordinated with the Company so
that the needs of the Company are met to the extent reasonably
possible. The Employee shall be granted sick time in accordance
with Company policy, as outlined in the Company’s Employee
Handbook, as amended.

 

6)
REIMBURSEMENT OF BUSINESS EXPENSES: The Company agrees to pay,
either directly or indirectly, for all the Employee’s
approved entertainment, travel and miscellaneous business expenses
incurred by him during the course of his employment, which expenses
are pre-approved in writing by the Company. Employee shall be
entitled, on pre-approved business-related travel, coach airline
tickets on domestic travel and international travel, and a
full-size rental automobile. As a prerequisite to any payment or
reimbursement by the Company for business expenses, the Employee
shall submit receipts of all such expenses to the Company, and the
Company’s obligation to effect payment or reimbursement of
such expenses shall be only to the extent of such
receipts.

 

7)
ADDITIONAL BENEFITS: At present the Company does not offer any
plans for medical, life, disability or dental insurance. If the
Company should adopt such plans in the future, it will be
determined then which employees will be eligible for those
plans.

 

8)
PROPERTY DEFINED: The Employee understands and agrees that Company
Intellectual Property, files, customer files, correspondence,
e-mails, memos, legal files, research files, engineering files,
development materials, notes, analyses, compilations, studies,
interpretations and other documents (regardless of form or medium)
and information, form files, forms, examples, test data, samples,
and all briefs and memoranda, and other work product, related in
any way to the Company, its customers, products, plans, designs,
concepts, ideas, research, development, know-how, costs, prices,
finances, marketing plans, business opportunities or personnel are
the sole and exclusive property of the Company (collectively
“Company Property”), and the same shall remain in the
possession of the Company and shall constitute the property of the
Company, irrespective of who prepared the same.

 

The
Employee shall not remove, photocopy, photograph or in any other
manner duplicate, translate, compile, summarize, transmit, convey
or remove said Company Property. For purposes of this Agreement,
“Intellectual Property” means all intellectual property
rights, both domestic and foreign, including any and all tangible
and intangible trade secret rights, patents rights (including
registrations, applications, renewals, extensions, continuations,
divisions, reexaminations and reissues, including their domestic
and foreign counterparts), processes, know-how, prototypes,
specifications, drawings, designs, tools, industrial property
rights, shop rights, inventions, improvements, developments or
discoveries, whether conceived or made by Employee or not, in whole
or in part, and whether patentable (or registrable) or
not.

 

9)
DISPOSITION OF PROPERTY DURING AND AFTER EMPLOYMENT: The Employee
agrees and understands that all Confidential Information (as
defined below) and Company Property are and shall remain, during
and after the Term, the sole and exclusive property of the Company,
and the Employee shall have no right, title or interest in or to
the same.

 

10)
TERMINATION OF EMPLOYMENT: The employment of the Employee may be
terminated as follows:

 

a. By
the death of the Employee, in which case the Company shall pay the
Employee’s estate all compensation due the Employee, prorated
through the date of termination.

 

b. By
the Employee, at any time upon at least ninety (90) days prior
written notice to the Company, in which case the Company shall be
obligated to pay the Employee all compensation due him, prorated to
the date of termination.

 

c. By
the Company, without cause, at any time upon at least thirty (30)
days prior written notice to the Employee, and the Company shall be
obligated to pay the Employee compensation currently in effect
including all Sales Commissions (if any), accrued or prorated, and
approved expenses, up to the date of termination. Furthermore, the
Company shall pay the Employee the sum of six months’ salary
or the remainder of the salary and benefits in effect in this
Agreement at the time of termination, whichever is greater, payable
bi-weekly or as otherwise mutually agreed in writing. Employee
shall not have to account for other compensation from other sources
or otherwise mitigate his damages due to termination pursuant to
this subparagraph.

 

d. If
the Company fails to meet its obligations to the Employee on a
timely basis (which failure remains uncured thirty (30) days after
Company’s actual receipt of Employee’s written notice
thereof), or if there is a change in the control of the Company,
the Employee may elect to terminate this Agreement.

 

e. By
the Company, if during the Term the Employee (i) violates the
provisions of Paragraph 12 or Paragraph 13 hereof, (ii) is found
guilty in a court of law of any crime of moral turpitude, or (iii)
breaches this Agreement and such breach remains uncured ten (10)
days after Employee’s receipt of Company’s written
notice of Employee’s breach or threatened
breach.

 

f. By
the Employee, if during the Term there occurs a Change-in-Control
Event at the Company; provided, however, that the Employee provides
the Company with at least sixty (60) days’ advanced written
notice of his intention to exercise the termination rights under
this subsection (f). No later than forty-five (45) days after a
termination by the Employee under this subsection (f), the Company
shall pay the Employee the sum of six months’ salary or the
remainder of the salary and benefits in effect in this Agreement at
the time of termination, whichever is greater. For purposes
hereunder, a “Change-in-Control Event” means the
occurrence of a third party acquiring all or substantially all the
assets of the Company or acquiring such number of shares of Company
common stock or acquiring such other means and rights, so as to
control the direction or affairs of the Company or the replacement
of management, regardless of whether such control or replacement is
actually exercised.

 

 

 

 

 

11)
NON-COMPETITION AND PRESERVATION OF NON-TRADE SECRET PROTECTIVE
BUSINESS INTERESTS: During and upon expiration or termination of
this Agreement, and for twelve (12) months thereafter, irrespective
of the time, manner, or method of such expiration or termination,
the Employee shall not, without the express written consent of the
Company, directly or indirectly, consult with, render services to,
or otherwise participate or attempt to participate in any manner in
a business, which competes with the Company or its Affiliates,
within the geographic areas where the Company or its Affiliates, or
the Employee, conducted business any time during the twenty-four
(24) month period directly preceding any expiration or termination
of this Agreement, and Employee:

 

a.
Shall not use or disclose (or permit any third party to use or
disclose) any Confidential Information to any person or entity
without the written authorization of the Company.
“Confidential Information” includes, but is not limited
to, information concerning the Company’s (or its
Affiliates’) customers, products, designs, engineering and
manufacturing methods, pricing information and methods, training
and operational procedures, advertising, marketing, and sales
information, financial information, and other data, concepts,
strategies, methods, procedures or other confidential information,
which is not a “trade secret,” as defined by Florida
Statute §688.002 (2018), as amended;

 

b.
Shall not solicit, directly or indirectly, any existing or
potential client or customer with whom the Company has or may have
a business relationship. A potential client or customer is defined
as any person or entity that the Company or Employee actively
solicited, or engaged in business activity, during the twenty-four
(24) month period directly preceding the expiration or termination
of this Agreement;

 

c.
Shall not hire, recruit or attempt to recruit, or assist others to
hire, recruit or attempt to recruit, any person employed by the
Company at the time of the expiration or termination of this
Agreement for any person or business entity, which competes or
plans to compete with the Company;

 

d.
Shall not adversely affect the Company’s customer goodwill
associated with (1) an ongoing business by way of trade name,
trademark, service mark, trade dress and the like, (2) a specific
geographical location or (3) a specific marketing or trade
area;

 

e. This
Non-Competition and Protection of Non-Trade Secret Protectable
Business Interest Business Interest provision is expressly intended
to benefit the Company and its Affiliates, their respective
successors and assigns (the “Third Party
Beneficiaries”), and the Company and the Third-Party
Beneficiaries are expressly authorized to enforce this provision;
and

 

f.
Employee agrees that the precise value of the covenants in this
Section 12 (and Section 13) are so difficult to evaluate that no
accurate measure of liquidated damages could possibly be
established and that, in the event of a breach or threatened
breach, the Company is entitled to temporary and permanent
injunctive relief restraining Employee from such breach or
threatened breach. If any covenants made in this Section shall be
more restrictive than permitted by applicable law, it shall be
limited to the extent which is so permitted.

 

12)
PRESERVATION OF TRADE SECRETS: During the Term, and upon the
expiration or termination of this Agreement, the Employee shall
not, directly or indirectly, use or disclose any “trade
secret” (as that term is defined by Florida Statute
§688.002 (2010), as amended) of the Company or its Affiliates,
or allow any such trade secret to be disclosed to or used by any
person or entity, for any reason or purpose whatsoever, except as
expressly authorized, in writing, by Medite’s Chief Executive
Officer.

 

This
Non-Disclosure of Trade Secrets provision is expressly intended to
benefit the Company and the Third-Party Beneficiaries, and the
Company and the Third-Party Beneficiaries are expressly authorized
to enforce this provision.

 

13)
NOTICES: Any notice required or permitted to be given pursuant to
the provisions of this shall be sufficient if in writing, and if
personally delivered to the Party to be notified or, if sent by
registered or certified mail, to said Party at the following
addresses:

 

If to
the Company:

 

Medite
Cancer Diagnostics, Inc.

1100 S.
Rio Grande, Unit C

Orlando, FL
32805

 

If to
the Employee:

 

Name:
Gary
Pickett

Address:
4609 Capri
Lane

City,
St. Zip: Melbourne, FL
32935

 

14)
UNREASONABLE COMPENSATION: It is agreed that in the event all or
any part of the compensation paid to the Employee hereunder shall
be disallowed by the Internal Revenue Service as a deduction by the
Company under Section 162 of the Internal Revenue Code of 1986, as
amended, (or shall be disallowed as a deduction for state or local
income purposes) and interest or other tax “costs” to
the Company, as the case may be, attributable to said disallowance
shall be determined and shall be a debt payable on demand by the
Employee to the Company, which the Company may recover as a setoff
against future compensation.

 

15)
BYLAWS; MISCELLANEOUS: This Agreement is made subject to and with
reference to the Bylaws of the Company, which are incorporated
herein by reference, and which the Employee accepts as binding upon
him.

 

16)
SEVERABILITY: In the event any portion of this Agreement is held to
be invalid or unenforceable, the invalid or unenforceable portion
or provision shall not affect any other provision hereof and this
Agreement shall be construed and enforced as if the invalid
provision had not been included.

 

 

 

 

 

17)
BINDING EFFECT: This Agreement shall inure to the benefit of and
shall be binding upon the Company and upon any person, firm or
corporation with which the Company may be merged or consolidated or
which may acquire all or substantially all the Company’s
assets through sale, lease, liquidation or otherwise. The rights
and benefits of Employee are personal to him and no such rights or
benefits shall be subject to assignment or transfer by
Employee.

 

18)
GOVERNING LAW: The laws of the State of Florida, without regard to
their choice of law principles, govern all matters arising from or
related to this Agreement.

 

19)
ENTIRE AGREEMENT: This Agreement constitutes the entire agreement
between the Parties and supersedes and replaces any prior written
or verbal agreements, explicit or implied, regarding the subject
matter hereof, and there are no other agreements between the
Parties pertaining to such subject matter, except as expressly set
forth herein.

 

20)
AMENDMENT AND MODIFICATION: All terms, conditions and provisions of
this Agreement shall remain in full force and effect unless
modified, changed, altered or amended, in writing, executed by
authorized representatives of both Parties.

 

 

 

 

 

SIGNATURE PAGE

 

 

IN WITNESS WHEREOF, the Parties hereto have set their hands
and seals effective on this day and year first above
written.

 

 

EMPLOYEE:

 

/s/Gary
Pickett

 

 

COMPANY:
Medite Cancer Diagnostics, Inc.

 

/s/ Stephen Von
Rump

Stephen
Von Rump, CEOEX-4.2

 Exhibit 4.2 

The Deferred Share Component of the Annual Incentive Plan 

as approved by the Remuneration Committee of RELX Group plc on 6 December 2017 

and amended on 22 August 2018 
  

 
  

	1.	 Deferred Share Components 

1.1     The Committee shall, on or prior to the Date of Deferral, determine for each recipient of a Deferred Share Component: 

 

	(a)	 the Deferral Amount; 

 

	(b)	 the number of Shares subject to the Deferred Share Component, calculated based on the Market Value of a Share,
and any fraction of a Share shall be rounded down to the nearest whole Share; and 

  

	(c)	 any other restrictions or requirements that the Committee shall determine are appropriate.

 1.2     Deferred Share Components will be documented by way of deed. 

1.3     Subject to any Dealing Restrictions, Deferred Share Components will typically only be issued within the period of 42 days
commencing on the announcement of RELX PLC’s final results in any year. 
  

	2.	 Prohibition on Issue of Shares 

2.1     The Payout of a Deferred Share Component will only be satisfied with a transfer of shares purchased on the market and may not
be satisfied by the issue of new Shares or the transfer of Shares from treasury. 
  

	3.	 Payout 

3.1     Subject to any other provision in these Terms, Deferred Share Components will Payout in full on the expiry of the Deferral
Period, subject to Term 6. 
 3.2     Notwithstanding any other provision in these Terms, if there are Dealing Restrictions in
place on the date on which the Deferral Period expires, a Deferred Share Component shall not Payout until such later date when all Dealing Restrictions have been lifted, subject to Term 6. 

 

	4.	 Consequences of Payout 

4.1     Subject to Term 3.2 and Term 15.7, the Committee shall, as soon as reasonably practicable following Payout of a Deferred Share
Component, procure the transfer to the Participant of such number of Shares as are the subject of the Deferred Share Component. 

4.2     Any transfer of Shares under the Deferred Share Component of the AIP shall be subject to such consent of any of the
authorities wherever situated as may from time to time be required and the Participant shall be required, so far as he is able, to procure compliance with the requirements of, or to obtain or obviate the necessity for, such consents. 

4.3     The Participant shall have no rights in respect of any Shares which are the subject of a Deferred Share Component until such
Shares are transferred to him. The Participant shall be entitled to all rights in respect of Shares transferred to him with effect from the date of transfer (save for rights in respect of which the record date was prior to that date). 

 

	5.	 Entitlement to Dividend Equivalents 

5.1     Upon the Payout of the Deferred Share Component, the Participant will be entitled to a cash payment equal in value to the
dividends which would have been paid on the Paid Out Shares during the period commencing on 1 January of the calendar year in which the Date of Deferral falls and ending on the date on which the Deferred Share Component is Paid Out. 

  
 1 

 5.2     The cash payment to which the Participant becomes entitled under Term 5.1:

  

	(a)	 will be calculated (in such manner as the Committee sees fit) by reference to the currency of payment of the
underlying dividend (and paid in such currency as the Committee sees fit); 

  

	(b)	 will be calculated without any entitlement to interest (or other type of investment return) in the period
between the dividend payment date and Payout of the Deferred Share Component; 

  

	(c)	 will be calculated by reference to ordinary dividends and (unless the Deferred Share Component is adjusted
under Term 12) to special dividends and distributions or dividends-in-specie; and 

 

	(d)	 will be paid (subject to such deductions as are required by law) within one month of Payout of the Deferred
Share Component. 

  

	6.	 Dismissal for Cause/Other Events 

6.1     If, before a Deferred Share Component has Paid Out, a Participant ceases to be an employee of a member of the Group for
reasons of Cause or if, after a Participant has ceased to be an employee of a member of the Group, the Company becomes aware of facts or circumstances that would have entitled it to dismiss the Participant for Cause, then the Deferred Share
Component shall lapse on the date of cessation of employment or the date the Company becomes so aware (as applicable). 

6.2     If, before a Deferred Share Component has Paid Out, a Participant ceases to be an employee of a member of the Group for any
reason other than one mentioned in Term 6.1, then the Participant’s Deferred Share Component shall continue subject to the Terms and will Pay Out in accordance with Term 3, save that in the event of a Participant’s death or if the
Committee considers appropriate in other particular circumstances, the Committee may, in its absolute discretion, determine that the Deferred Share Component shall instead Pay Out at the date of death or cessation of employment (as applicable) or on
some other basis. 
 6.3     For the avoidance of doubt, a Participant will not cease to be an Employee for the purposes of this
Term 6 if he ceases to be employed by a member of the Group or RELX PLC but continues to be or is immediately afterwards employed by another member of the Group or RELX PLC. 
  

	7.	 Claw-back 

7.1     Deferred Share Components are subject to the claw-back provisions related to materially
mis-stated financial or other data and serious misconduct as set out in the Guidelines for the Annual Incentive Plan, as amended from time to time. 

 

	8.	 Change of Control of RELX PLC 

Except as otherwise provided in these Terms, if any person: 
  

	(a)	 obtains Control of RELX PLC as a result of making an offer to acquire Shares which is either unconditional or
is made on a condition such that if it is satisfied the person making the offer will have Control of RELX PLC; 

  

	(b)	 becomes bound or entitled to acquire Shares under sections 979 and 983 of the Companies Act 2006; or

  

	(c)	 obtains Control of RELX PLC in pursuance of a compromise or arrangement sanctioned by the Court under section
899 of the Companies Act 2006, 

  
 2 

 then any Deferred Share Components in respect of Shares which have not Paid Out will Pay Out in full on a
date within 30 days of the relevant event determined by the Committee. Any Paid Out Shares will be transferred to the Participant as soon as reasonably practicable after the date they Pay Out. 

 

	9.	 Internal Reorganisation 

9.1     Term 8 will not apply if the purpose and effect of the change of Control or scheme of arrangement is to create a new holding
company for RELX PLC, such company having substantially the same Shareholders and proportionate shareholdings as those of RELX PLC immediately before the scheme of arrangement. 

9.2     If Term 9.1 applies: 
  

	(a)	 a Deferred Share Component will not Pay Out as a result of the relevant event; and 

 

	(b)	 a Deferred Share Component will instead be exchanged for an equivalent right over such shares as the Committee
determines appropriate. 

 9.3     Where this Term 9 applies, a Participant will not be treated as ceasing to be
an Employee until he ceases to be employed by a company which is either the relevant holding company or a subsidiary of the holding company (within the meaning of section 1159 of the Companies Act 2006). 

 

	10.	 Rollover on a Change of Control 

10.1   The Committee may determine that Term 8 will not apply on a change of Control of RELX PLC and may, with the consent of the person
obtaining Control, (i) determine that the Deferred Share Components will be rolled over in accordance with the provisions of Term 9.2 or (ii) allow the Participants to choose between Payout of Deferred Share Components (if at all) under
Term 8 and rollover in accordance with Term 9.2. 
 10.2   For the avoidance of doubt, in Term 8, Term 9 and Term 10,
“Committee” means the Committee as constituted immediately before the event by virtue of which the applicable Term applies. 
  

	11.	 Voluntary Winding Up 

11.1   The provisions of Term 8 will apply with such changes as may be necessary in the event that notice is duly given of a resolution for a
voluntary winding up of RELX PLC provided that, all references in that Term to the date of the relevant event will be treated as references to the date on which notice is given for the voluntary winding-up of
RELX PLC. 
  

	12.	 Adjustment of Deferred Share Components 

 

	12.1	 In the event of: 

  

	(a)	 any Capital Reorganisation; or 

 

	(b)	 the implementation by RELX PLC of a demerger or the payment by RELX PLC of a super-dividend which would
otherwise materially affect the value of a Deferred Share Entitlement, 

 the number of Shares comprised in a Deferred Share Component may
be adjusted in such manner as the Committee may determine. 
  

	13.	 Rights attaching to Shares 

13.1   All Shares transferred on the Payout of a Deferred Share Component will rank pari passu in all respects with the Shares in issue at the
date of Payout except in respect of any rights attaching to such Shares by reference to a record date prior to the date of Payout. 

  
 3 

	14.	 Administration and amendment 

14.1   The decision of the Committee will be final and binding in all matters relating to the Deferred Share Component of the AIP including the
exercise of any discretion under these Terms, the interpretation of the Terms and any dispute relating to any matter in connection with the Terms. 

14.2   The Committee may at any time discontinue the Deferred Share Component of the AIP or amend any of the provisions of the Deferred Share
Component of the AIP in any way it thinks fit provided that: 
  

	(a)	 the Committee will not make any amendment that would materially prejudice the interests of existing
Participants except with the prior consent of the Participants; and 

  

	(b)	 without prejudice to any provision of the Deferred Share Component of the AIP which provides for the lapse of a
Deferred Share Component, the Committee may not cancel a Deferred Share Component unless the Participant agrees to such cancellation. 

14.3   Notwithstanding any other provision of the Deferred Share Component of the AIP, the Committee may make appropriate amendments to: 

 

	(a)	 the Deferred Share Component of the AIP and/or establish schedules to the Deferred Share Component of the AIP
for the purpose of Employees receiving Deferred Share Components, based on the Deferred Share Component of the AIP but modified; or 

  

	(b)	 a Deferred Share Component (provided that no such amendment would materially prejudice the interests of any
affected Participant except with the prior consent of the Participant) 

 to take account of such factors as the Committee determines
appropriate including, but not limited to, local tax, exchange control or securities laws in any territory. 
  

	15.	 General 

Discretionary nature of the Deferred Share Component of the AIP 

15.1   Participation in the Deferred Share Component of the AIP does not imply any right to receive Deferred Share Components on the same or any
other basis in any other year. The Terms do not entitle the Participant to the exercise of any discretion in his favour. 
 Changes to RELX PLC’s
capital structure 
 15.2   The existence of any Deferred Share Component will not affect in any way the right or power of the
Company, RELX PLC or its Shareholders to make or authorise any or all adjustments, recapitalisations, reorganisations or other changes in the Company’s or RELX PLC’s capital structure, or any merger or consolidation of the Company or RELX
PLC, or any issue of shares, bonds, debentures, preferred or prior preference stocks ahead of or convertible into, or otherwise affecting the Shares or the rights thereof, or the dissolution or liquidation of the Company or RELX PLC or any sale or
transfer of all or any part of their assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

Notices 
 15.3   Any notice or other
document which has to be given to a Participant under or in connection with the Deferred Share Component of the AIP may be (i) delivered or sent by post to him at his home address according to the records of his employing company,
(ii) sent by email to any email address according to the records of his employing company or, in either case, such other address as may appear to the Company to be appropriate, or (iii) provided electronically through a website hosted by
the Company or an agent of the Company, provided that the Participant is notified by email or post that such notice or document has been or will be provided in this manner. All notices will be deemed to have been given two days after the date of
posting / sending. 
 15.4   Any notice or other document required to be given to the Company under or in connection with the Deferred Share
Component of the AIP may be delivered or sent by post to it at its registered office (or such other place or places as the Committee may from time to time determine and notify to Participants) or sent by email or fax to any email address or fax
number notified to the sender. 

  
 4 

 No transfer of Deferred Share Components 

15.5   A Participant may not transfer, assign, charge or otherwise dispose of Deferred Share Components, or any rights in respect of them,
except (i) on the transmission of Deferred Share Components on the death of a Participant to his personal representatives or (ii) with the consent of the Committee. Any such attempted non-approved
transfer will result in the lapse of the Deferred Share Component. 
 Deferred Share Components
non-pensionable 
 15.6   Deferred Share Components and Dividend Equivalents under the
Deferred Share Component of the AIP are not pensionable. 
 Taxation 

15.7   Any liability of a Participant to taxation in respect of a Deferred Share Component will be for the account of the relevant Participant.
By accepting a Deferred Share Component, a Participant agrees to comply with any arrangements specified by the Company for the reporting and payment of tax, duty and social security contributions in any jurisdiction in respect of any Deferred Share
Component and any Shares to which he is or may become entitled under the Deferred Share Component of the AIP including, without limitation, (i) arranging the sale of sufficient Shares on the Participant’s behalf to enable the Company or
any member of the Group to satisfy its obligations in respect of deduction or withholding of tax, duty or social security contributions at source and (ii) entering into any election specified by the Company under Chapter 2 of Part 7 of the
Income Tax (Employment & Pensions) Act 2003. 
 Stamp Duty 

15.8   The Company or, where the Committee so directs, any member of the Group, will pay the appropriate stamp duty on behalf of Participants in
respect of any transfer of Shares on the Payout of a Deferred Share Component. 
 Governing Law 

15.9   This Deferred Share Component of the AIP will be governed by, and construed in accordance with, the laws of England and Wales and the
courts of England and Wales will have exclusive jurisdiction in relation to any dispute arising in connection with the Deferred Share Component of the AIP. 
  

	16.	 Definitions 

16.1   In these Terms and the schedules to these Terms (each a Schedule), unless the context otherwise requires, the following
words and expressions have the following meanings: 
 Annual Incentive Plan means any annual incentive plan operated by the Company or any
member of the Group; 
 Capital Reorganisation means any variation in the share capital or reserves of RELX PLC (including, without
limitation, by way of capitalisation, rights issue, consolidation, sub-division or reduction); 

Cause means circumstances justifying summary dismissal of an Employee without compensation by the relevant member of the Group; 

Committee means the remuneration committee of the Board of directors of the Company, or other duly authorised committee of that Board; 

Company means RELX Group plc registered in England No. 2746616 by whatever name known from time to time; 

Control has the meaning given to it by section 995 of the Income Tax Act 2007; 

  
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 Date of Deferral means the date on which a Deferred Share Component is issued in accordance
with these guidelines; 
 Dealing Day means any day on which the London Stock Exchange and the Amsterdam Stock Exchange are open for the
transaction of business; 
 Dealing Restrictions means any restrictions on, or requirement for approvals for dealing in Shares whether under
applicable law, under the Company’s or RELX PLC’s share dealing rules (as applicable), the provisions of the Listing Rules of the UK Listing Authority or the City Code on Takeovers and Mergers or any of their equivalents in any applicable
jurisdiction; 
 Deferral Amount means: 
  

	(a)	 in respect of Executive Directors or former Executive Directors,
one-third of the gross of tax amount of the total annual incentive payment that the Committee determines would have been paid to that individual under the Cash Component of this Annual Incentive Plan operated
in respect of the relevant Incentive Year if the individual did not participate in the Deferred Share Component of the AIP; or 

  

	(b)	 in respect of any eligible Employee or former Employee who is not an Executive Director or former Executive
Director, an amount equal to one half, or such other lower proportion as the Committee may determine, of the gross of tax amount of the total annual incentive payment that is, or is due to be, paid to that individual under the Cash Component of this
Annual Incentive Plan operated in respect of the relevant Incentive Year; 

 Deferral Period means the period of three years
from the Date of Deferral; 
 Deferred Share Component means, unless Schedule 2 applies, a contingent right to Shares without payment (other
than under Term 15.7); 
 Deferred Share Component of the AIP means this deferred share component of the RELX Group plc Annual
Incentive Plan, as amended from time to time; 
 Dividend Equivalent means a right to a cash payment in accordance with Term 5; 

Employee means any employee (including an executive director) or a corporate officer of a member of the Group or RELX PLC; 

Executive Director means an executive director of the Company or RELX PLC; 

Financial Year means the Company’s accounting reference period as determined in accordance with section 391 of the Companies Act 2006; 

Group means the Company and every company which is under the Control of the Company and member of the Group will be construed
accordingly; 
 Incentive Year means the Financial Year immediately preceding the proposed Date of Deferral, or, as the context may require,
the Incentive Year to which a Deferred Share Component relates; 
 Market Value means the middle-market quotation for a Share (as derived from
the Daily Official List of the London Stock Exchange in the case of an ordinary share in the capital of RELX PLC priced in Pounds Sterling or from the equivalent such records of Amsterdam Euronext in the case of an ordinary share in the capital of
RELX PLC priced in Euros or of the New York Stock Exchange in the case of an American Depositary Share representing an ordinary share in the capital of RELX PLC) immediately preceding the Date of Deferral or, if the Committee so determines, the
average of the middle-market quotations for a Share (as derived from the Daily Official List of the London Stock Exchange in the case of an ordinary share in the capital of RELX PLC priced in Pounds Sterling or from the equivalent such records of
Amsterdam Euronext in the case of an ordinary share in the capital of RELX PLC priced in Euros or of the New York Stock Exchange in the case of an American Depository Share representing an ordinary share in the capital of RELX PLC) for the three
Dealing Days ending on the Dealing Day immediately preceding the Date of Deferral; 

  
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 Participant means any person who has received a Deferred Share Component which has not lapsed
in accordance with the provisions of these Terms and includes, where the context permits, the legal personal representatives of a deceased Participant; 

Payout means the Participant becoming absolutely entitled to receive the Shares comprised in his Deferred Share Component in accordance with
these Terms and Paid and Paid Out will be construed accordingly; 
 Share means an ordinary share in the capital
of RELX PLC or shares representing those shares following any Capital Reorganisation of RELX PLC and includes an American Depositary Share representing a Share and Shareholder will be construed accordingly; 

Terms means these terms of the Deferred Share Component of the AIP and any reference to a Term will be construed accordingly; 

US Participant means a Participant who is subject to United States taxation under United States law including by reason of being a United States
national, or resident in the United States for United States tax purposes. 
 16.2   Where the context permits the singular includes the
plural and vice versa and the masculine includes the feminine. Headings will be ignored in construing the Deferred Share Component of the AIP. 

16.3   Any references to a statutory provision include that provision as it may from time to time be amended, modified or re-enacted. 

  
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 Schedule 1 - US Participants 

The Rules of the Deferred Share Component of the AIP apply to Deferred Share Components received by US Participants subject to the modifications contained in
this Schedule 1. In the event that a Participant who is not a US Participant becomes a US Participant subsequent to the Date of Deferral, then, pursuant to Term 14 of the Terms, such Deferred Share Component shall immediately be deemed to be amended
in a manner consistent with this Schedule 1. 
  

	(A)	 In this Schedule, terms shall have the same meaning as in Term 16 unless modified by this Schedule. In
addition, in this Schedule, the following words and expressions have the following meanings: 

  

	 	(i)	 Release Date means the date immediately following the expiry of the Deferral Period (the Deferral
Period being the period of three years from the Date of Deferral); 

  

	 	(ii)	 Section 409A means Section 409A of the United States
Internal Revenue Code and the U.S. Income Tax Regulations and official guidance thereunder (as amended from time to time); and 

  

	 	(iii)	 Section 409A Change in Control means a change in the ownership
or change in effective control (as defined in Treas. Regs. §1.409A-3(i)(5)(v) and (vi)) of the corporation or entity in question. 

 

	(B)	 Consequences of Payout - release of Shares. Term 4.1 shall apply to US Participants except that
if Shares are to be released (or cash paid) to a US Participant in settlement of a Deferred Share Component, except as provided in Terms (E) and (F) of this Schedule, the Shares or cash shall in all instances be transferred or paid, as
applicable, on the Release Date. 

  

	(C)	 Cessation of employment. Term 6.2 shall apply to US Participants except that the Committee shall
have no discretion to transfer Shares or pay cash to a US Participant in settlement of a Deferred Share Component prior to the Release Date. 

  

	(D)	 Dividend Equivalent - cash payment. Term 5.2(c) shall apply to US Participants except, as
provided in Terms (E) and (F) of this Schedule, any cash paid to a US Participant in settlement of a Deferred Share Component’s Dividend Equivalents to a US Participant under this Term shall in all instances be paid or transferred, as
applicable, on the Release Date. 

  

	(E)	 Change in Control of RELX PLC. Term 8 shall apply to US Participants with the following
additional requirements: 

  

	 	(i)	 Any change in Control of RELX PLC under Term 8 must also constitute a Section 409A Change in Control for
the US Participant in order for the provisions of Term 8 to apply. 

  

	 	(ii)	 For purposes of Term 8, upon a change in control of RELX PLC that constitutes a Section 409A Change in
Control for a US Participant, any Deferred Share Components which have not Paid Out over Shares shall Payout and be transferred to such US Participant. 

If Term 8 (as modified by this Schedule) does not apply to a US Participant, a US Participant’s Paid Out Deferred Share Component shall be
satisfied in accordance with Terms 4 and 5, as such Terms are modified by this Schedule. 
  

	(F)	 Internal reorganization. Notwithstanding anything in Term 9 to the contrary, if an internal
reorganization constitutes a Section 409A Change in Control for a US Participant, any Deferred Share Components over Shares which have not Paid Out shall Payout and be transferred to such US Participant. 

 

	(G)	 Rollover on a change of Control and voluntary winding up. Terms 10 (Rollover on a change
of Control) and 11 (Voluntary winding-up) shall not apply to any Deferred Share Component held by a US Participant. However, in the event of a voluntary winding up of RELX PLC, the Committee may

  
 8 

	 	
terminate the Deferred Share Component and accelerate the Payout of outstanding Deferred Share Components to US Participants in any manner that is permissible under, and consistent with the plan
termination procedures authorized by Treas. Regs. §1.409A-3(j)(4)(ix). 

  

	(H)	 Payment/settlement of Deferred Share Components. For the avoidance of doubt, if payable, Deferred
Share Components subject to this Schedule shall be Paid Out to a US Participant by transferring the Shares subject to the Deferred Share Component upon the first to occur of (i) the Release Date or (ii) a Section 409A Change in
Control with respect to such US Participant. If cash is to be paid in lieu of Shares, the cash shall be paid at the same time the Shares would have been transferred in accordance with the Terms and this Schedule. All transfers of Shares or payments
of cash in settlement of a Deferred Share Component shall be made at one time. Any Dividend Equivalents shall be paid at the same time as the Shares are released or cash payments in respect of the related Deferred Share Component are paid. In
interpreting this Schedule, the payment rules of Treas. Regs. §1.409A-3(d), shall apply. Treas. Regs. §1.409A-3(d) provides, among other things, that a payment
is treated as made upon the date specified under the Terms and this Schedule if the payment is made on such specified date or on a later date within the same calendar year or, if later, by the 15th day of March of the calendar year following the
calendar year in which the specified date falls and the US Participant is not permitted, directly or indirectly, to designate the year of the payment. In addition, Treas. Regs. §1.409A-3(d) provides that
a payment is treated as made upon the date specified under the Terms and this Schedule and is not treated as an accelerated payment if the payment is made no earlier than 30 days before the specified payment date and the US Participant is not
permitted, directly or indirectly to designate the year of the payment. 

  

	(I)	 Application of Section 409A. Although neither the Committee nor
any member of the Group guarantees any particular tax treatment to a US Participant, Deferred Share Components received pursuant to this Schedule are intended to comply with Section 409A, and all rights received pursuant to this Schedule shall
be interpreted in accordance with Section 409A and 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 effective
date of the Deferred Share Component of the AIP. Notwithstanding any provision, this Schedule, or any Deferred Share Component to the contrary, in the event that the Committee determines that any Deferred Share Component may or does not comply with
Section 409A, the Company may adopt such amendments to the Terms, this Schedule, and the affected Deferred Share Component (without a US Participant’s consent) or adopt other policies and procedures (including amendments, policies and
procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to (i) exempt the Deferred Share Component of the AIP and any Deferred Share Component from the application of
Section 409A and/or preserve the intended tax treatment of the benefits provided with respect to Deferred Share Components , or (ii) comply with the requirements of Section 409A. 

 

	(J)	 Effective date. This Schedule will be effective on the date the Terms are adopted by the
directors of the Company. 

  
 9 

 Schedule 2 - Cash Alternative 

If deemed necessary in order to ensure compliance with tax, regulatory or legal country specific requirements (e.g. exchange control and securities laws) in
the countries in which the Deferred Share Component of the AIP operates then, notwithstanding any provision to the contrary in these Terms: 
  

	(A)	 The Committee may decide to satisfy a Deferred Share Component by paying to the Participant an amount equal to
the market value (as determined in its discretion) of the number of Shares which would otherwise be transferred following Payout or an amount determined on such other reasonable basis as the Committee may decide (which could for example, allow for
the deduction of any applicable expenses). 

  

	(B)	 The Committee may issue a Deferred Share Component on the basis that it will be satisfied in cash, as opposed
to Shares, as set out in (A) above. 

 Unless the Committee determines otherwise, the Terms will apply as if any Deferred Share
Component issued or to be satisfied pursuant to this Schedule involves a right to, or interest in, Shares for the purposes of determining whether Dealing Restrictions are in place at the Date of Deferral, Payout, release or surrender of any such
Deferred Share Component. 

  
 10

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