Document:

Nielsen Holdings Executive Annual Incentive Plan

 Exhibit 10.25 

NIELSEN HOLDINGS EXECUTIVE ANNUAL INCENTIVE PLAN 
  

	1.	Purpose of the Plan 

 The purpose of the
Plan is to enable the Company and its Subsidiaries to attract, retain, motivate and reward executive officers and key employees by providing them with the opportunity to earn competitive compensation directly linked to the Company’s performance
or otherwise. 
  

	2.	Definitions 

 The following capitalized
terms used in the Plan have the respective meanings set forth in this Section: 
 (a) “Affiliate” shall mean,
with respect to any entity, any entity directly or indirectly controlling, controlled by, or under common control with, such entity. 

(b) “Board” shall mean the Board of Directors of the Company. 

(c) “Change in Control” shall mean the occurrence of any of the following events: 

(i) the sale or disposition, in one or a series of related transactions, of all or substantially all, of the assets of the Company to any
Person or Group other than the Permitted Holders; 
 (ii) any person or group, other than the Permitted Holders, is or becomes
the Beneficial Owner (except that a person shall be deemed to have “beneficial ownership” of all shares that any such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time),
directly or indirectly, of more than 50% of the total voting power of the voting stock of the Company (or any entity which controls the Company), including by way of merger, consolidation, tender or exchange offer or otherwise; 

(iii) a reorganization, recapitalization, merger or consolidation (a “Corporate Transaction”) involving the Company,
unless securities representing 50% or more of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of the Company or the corporation resulting from such Corporate Transaction (or
the parent of such corporation) are held subsequent to such transaction by the person or persons who were the Beneficial Owners of the outstanding voting securities entitled to vote generally in the election of directors of the Company immediately
prior to such Corporate Transaction; 
 (iv) during any rolling twenty-four (24) month period looking back from any given
date, individuals who at the beginning of such period constituted the Board (together with any new directors whose election by such Board or whose nomination for election by the shareholders of the Company was approved by a vote of a majority of the
directors of the Company, then still in office, who were either directors at the beginning of such period or whose election or nomination for election was previously so approved, (including pursuant to the Investor Shareholder Agreement) (any such
director, an “Incumbent Director”) cease for any reason to constitute a majority of the Board then in office; provided, that, no individual shall be 

 
an Incumbent Director who is elected or nominated as a director of the Company (A) as a result of an actual or threatened election contest with respect to directors or as a result of any
other actual or threatened solicitation of proxies by or on behalf of any person other than the Board, or (B) pursuant to an agreement between Valcon Acquisition Holding (Luxembourg) S.à.r.l. (“Luxco”) or among one or
more Investors (or any other shareholders of the Company) and a Third Party under which Luxco or the Investor is required to nominate such director; or 

(v) any transaction (including, without limitation, any merger, consolidation or sale of assets or equity interests, or any acquisition
of stock in the open market or otherwise) the result of which is that any Person or Group, other than any of the Investors or their Affiliates, obtains direct or indirect beneficial ownership of more than fifty percent (50%) of the voting
rights attached to the entire issued share capital of Luxco. 
 (d) “Code” shall mean the Internal Revenue Code
of 1986, as amended, or any successor thereto, and the regulations and guidance promulgated thereunder. 
 (e)
“Committee” shall mean the Compensation Committee of the Board or any subcommittee thereof consisting solely of at least two individuals who are intended to qualify as “Non-Employee Directors” within the meaning of Rule
16b-3 under the Exchange Act (or any successor rule thereto), “independent directors” within the meaning of the NYSE listed company rules and “outside directors” within the meaning of Section 162(m) of the Code (or any
successor section thereto), to the extent Rule 16b-3 under the Exchange Act and Section 162(m) of the Code, respectively, are applicable to the Company and the Plan, to which the Compensation Committee of the Board has delegated any of its
duties hereunder. 
 (f) “Company” shall mean Nielsen Holdings B.V., a Netherlands entity which shall be
converted into a public company with limited liability and, upon such conversion “Company” shall mean Nielsen Holdings N.V., a Netherlands entity. 

(g) “Covered Employee” shall have the meaning set forth in Section 162(m) of the Code. 

(h) “Disability” or “Disabled” shall, unless otherwise agreed by the Company (or any of its
Subsidiaries) in a written employment agreement or employment letter with such Participant, be defined within the meaning of the term “Disability” as set forth in Section 409A. The Disability determination shall be in the sole
discretion of the Committee. 
 (i) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended,
or any successor thereto. 
 (j) “First Quarter” shall mean the period of calendar days during a given
Performance Period that is equal to 25% of the full number of calendar days falling within such Performance Period. 
 (k)
“Group” shall mean “group,” as such term is used for purposes of Section 13(d) or 14(d) of the Exchange Act. 
  

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 (l) “Investors” shall mean each of the investment funds associated with
AlpInvest Partners, The Blackstone Group, The Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts, Co. and Thomas H. Lee Partners, or their successors and/or Affiliates, so long as they remain investors under that certain
Shareholder’s Agreement regarding Nielsen Holdings B.V., entered into on or about the Public Trading Date (the “Investor Shareholder Agreement”). 

(m) “Participant” shall mean each officer of the Company and other key employee of the Company or any of its
Subsidiaries whom the Committee designates as a participant under the Plan. 
 (n) “Person” shall mean
“person,” as such term is used for purposes of Section 13(d) or 14(d) of the Exchange Act. 
 (o)
“Performance Period” shall mean each fiscal year of the Company or such shorter period, as determined by the Committee. 

(p) “Permitted Holder” shall mean any and all of an employee benefit plan (or trust forming a part thereof) maintained
by (A) the Company or (B) any corporation or other Person of which a majority of its voting power of its voting equity securities or equity interest is owned, directly or indirectly, by the Company. 

(q) “Plan” shall mean the Nielsen Holdings Executive Annual Incentive Plan, as set forth herein and as may be amended
and in effect from time to time. 
 (r) “Public Trading Date” shall mean the first date upon which Shares are
listed (or approved for listing) upon notice of issuance on any national securities exchange. 
 (s) “Section
409A” shall mean Section 409A of the Code and any rules, regulations and other official guidance promulgated thereunder. 

(t) “Service Recipient” means the Company, any of its Subsidiaries, or any of its Affiliates that satisfies the
definition of “service recipient” within the meaning of Treasury Regulation Section 1.409A-1 (or any successor regulation), with respect to which the person is a “service provider” (within the meaning of Treasury Regulation
Section 1.409A-1(or any successor regulation). 
 (u) “Share” shall mean a share of common stock of the
Company. 
 (v) “Subsidiary” shall mean a subsidiary corporation, as defined in Section 424(f) of the Code
(or any successor section thereto). 
 (w) “Third Party” shall mean a Person or Group that is not an Affiliate
of the Company or any of the Investors as of the Public Trading Date. 
  

	3.	Administration 

 (a) The
Plan shall be administered and interpreted by the Committee; provided, however, that the Board may, in its sole discretion, take any action delegated to the Committee 

 

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under this Plan as it may deem necessary; provided that, to the extent Section 162(m) of the Code is applicable to the Company and the Plan, the Plan shall, to the extent reasonably
possible, be administered and interpreted by the Committee in a manner which would be expected to cause any award intended to be qualified as performance-based compensation under Section 162(m) of the Code to so qualify. The Committee shall
establish the performance objective(s) for any Performance Period in accordance with Section 4 and certify whether and to what extent such performance objective(s) have been obtained. Any determination made by the Committee under the Plan shall
be final, conclusive and binding on the Company, any of its Subsidiaries, any Participant and any other person dealing with the Plan. 

(b) The Committee may employ such legal counsel, consultants and agents (including counsel or agents who are employees of the Company or
any of its Subsidiaries) as it may deem desirable for the administration of the Plan and may rely upon any opinion received from any such counsel or consultant or agent and any computation received from such consultant or agent. All expenses
incurred in the administration of the Plan, including, without limitation, for the engagement of any counsel, consultant or agent, shall be paid by the Company. No member or former member of the Board or the Committee shall be liable for any act,
omission, interpretation, construction or determination made in connection with the Plan other than as a result of such individual’s willful misconduct. 

(c) The Committee may delegate its authority under this Plan; provided that, to the extent Section 162(m) of the Code is applicable
to the Company and the Plan, the Committee shall in no event delegate its authority with respect to the compensation of the Chief Executive Officer of the Company or any other individual whose compensation the Board or Committee reasonably believes
may become subject to Section 162(m) of the Code. 
  

	4.	Bonuses 

 (a)
Performance Criteria. No later than the last day of the First Quarter of a given Performance Period (or such other date as may be required or permitted under Section 162(m) of the Code to the extent applicable to the Company and the
Plan), the Committee shall establish the performance objective or objectives that must be satisfied in order for a Participant to receive a bonus for each such Performance Period. Any such performance objective(s) will be based upon the relative or
comparative achievement of one or more of the following criteria, as determined by the Committee: (i) consolidated income before or after taxes (including income before interest, taxes, depreciation and amortization); (ii) EBITDA;
(iii) adjusted EBITDA; (iv) operating income; (v) net income; (vi) adjusted cash net income; (vii) adjusted cash net income per Share; (viii) net income per Share; (ix) book value per Share; (x) return on
members’ or shareholders’ equity; (xi) expense management; (xii) return on investment; (xiii) improvements in capital structure; (xiv) profitability of an identifiable business unit or product; (xv) maintenance or
improvement of profit margins; (xvi) stock price; (xvii) market share; (xviii) revenue or sales; (xiv) costs; (xx) cash flow; (xxi) working capital; (xxii) multiple of invested capital; (xxiii) total return;
and (xxiv) such other objective performance criteria as determined by the Committee in its sole discretion, to the extent permitted by Section 162(m) of the Code. The foregoing criteria may relate to the Company, one or more of its
Subsidiaries or one or more of its divisions or units, or any combination of the foregoing, and may be applied on an absolute basis and/or be relative to one or more peer group companies or indices, or any combination thereof, all as the Committee
shall determine. 
  

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 (b) Target Incentive Bonuses: Discretionary Bonuses. 

(i) No later than the last day of the First Quarter of a given Performance Period (or such other date as may be required or permitted
under Section 162(m) of the Code to the extent applicable to the Company and the Plan), the Committee shall establish target incentive bonuses for each individual Participant. 

(ii) The Committee may, in its sole discretion, grant such bonuses, if any, to such Participants, if any, as the Committee may determine,
in respect of any given Performance Period, that is not subject to the requirements of Section 4(a) and (c) of this Plan. 

(c) Determination of Bonuses/Maximum Amount Payable. As soon as practicable after the applicable Performance Period ends, the
Committee shall (x) determine (i) whether and to what extent any of the performance objective(s) established for the relevant Performance Period under Section 4(a) have been satisfied and certify to such determination, and
(ii) for each Participant who is employed by the Company or one of its Subsidiaries as of the date on which bonuses under the Plan for the applicable Performance Period are payable, unless otherwise determined by the Committee (to the extent
permitted under Section 162(m) of the Code, to the extent applicable to the Company and the Plan), the actual bonus to which such Participant shall be entitled, taking into consideration the extent to which the performance objective(s) have
been met and such other factors as the Committee may deem appropriate, and (y) cause such bonus to be paid to such Participant in accordance with Section 5. Any provision of this Plan notwithstanding, in no event shall any Participant
receive a bonus under this Plan in respect of any fiscal year of the Company in excess of $7,500,000. 
 (d) Negative
Discretion. Notwithstanding anything else contained in Section 4(c) to the contrary, the Committee shall have the right, in its absolute discretion, (i) to reduce or eliminate the amount otherwise payable to any Participant under
Section 4(c) based on individual performance or any other factors that the Committee, in its discretion, shall deem appropriate and (ii) to establish rules or procedures that have the effect of limiting the amount payable to each
Participant to an amount that is less than the maximum amount otherwise authorized under Section 4(c). 
 (e) Death or
Disability. If a Participant dies or becomes Disabled prior to the date on which bonuses under the Plan for the applicable Performance Period are payable, such Participant may receive an annual bonus equal to the bonus otherwise payable to such
Participant based upon actual Company performance for the applicable Performance Period or, if determined by the Committee, based upon achieving targeted performance objectives, multiplied by a fraction, the numerator of which is the number of days
that have elapsed during the Performance Period in which the Participant’s death or Disability occurs prior to and including the date of the Participant’s death or Disability and the denominator of which is the total number of days in the
Performance Period or such other amount as the Committee may deem appropriate. 
  

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 (f) Other Termination of Employment. Unless otherwise determined by the Committee and
except as may otherwise be provided in Section 4(e) above, no bonuses shall be payable under this Plan in respect of any Performance Period to any Participant whose employment terminates prior to the last day of such Performance Period.

 (g) Partial Performance Period. To the extent permitted under Section 162(m) of the Code, to the extent
applicable to the Company and the Plan, unless otherwise determined by the Committee, if a Participant is hired or rehired by the Company (or any of its Subsidiaries) after the beginning of a Performance Period (or such corresponding period if the
Performance Period is not a fiscal year) for which a bonus is payable hereunder, such Participant may, if determined by the Committee, receive an annual bonus equal to the bonus otherwise payable to such Participant based upon actual Company
performance for the applicable Performance Period or, if determined by the Committee, based upon achieving targeted performance objectives, multiplied by a fraction, the numerator of which is the number of days of active employment with the Company
(or any of its Subsidiaries) during the Performance Period and the denominator of which is the total number of days in the Performance Period or such other amount as the Committee may deem appropriate. 

(h) Change in Control. In the event of a Change in Control, the Committee (as constituted immediately prior to the Change in
Control) shall, in its sole discretion, determine whether and to what extent the performance criteria have been met or shall be deemed to have been met for the year in which the Change in Control occurs and for any completed Performance Period for
which a determination has not yet been made under Section 4(c). 
 (i) Forfeiture/Clawback. In addition to any
otherwise applicable conditions herein, the Committee may, in its sole discretion, but acting in good faith, direct that the Company recover all or a portion of any bonus payable hereunder upon the occurrence of a breach of noncompetition,
confidentiality, or other restrictive covenants that may apply to the Participant, or the restatement of the Company’s financial statements to reflect adverse results from those previously released financial statements, as a consequence of
errors, omissions, fraud, or misconduct. For purposes of this Section 4(i), errors, omissions, fraud, or misconduct may include, but is not limited to, circumstances where the Company has been required to prepare an accounting restatement due
to material noncompliance with any financial reporting requirement, as enforced by the Securities and Exchange Commission, and the Committee has determined in its sole discretion that such Participant had knowledge of the material noncompliance or
the circumstances that gave rise to such noncompliance and failed to take reasonable steps to bring such noncompliance to the attention of the appropriate individuals within the Company, or the Participant personally or knowingly engaged in
practices which materially contributed to the circumstances that enabled a material noncompliance to occur. 
  

	5.	Payment 

 (a) In
General. Except as otherwise provided hereunder, payment of any bonus amount determined under Section 4 shall be made to each Participant as soon as practicable after the Committee certifies that one or more of the applicable performance
objectives have been attained or, in the case of any bonus payable under the provisions of Section 4(d), after the Committee determines the amount of any such bonus; provided, however, that in any event all payments made hereunder shall be in
accordance with or exempt from the requirements of Section 409A of the Code (“Section 409A”). 
  

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 (b) Form of Payment. All bonuses payable under this Plan shall be payable in cash or,
at the discretion of the Committee, in awards under the Company’s 2010 Stock Incentive Plan, as it may be amended from time to time. 
  

	6.	General Provisions 

 (a)
Effectiveness of the Plan. The Plan shall become effective on the date on which it is adopted by the Board (the “Effective Date”), subject to the approval of the shareholders of the Company. Unless earlier terminated, the
Plan shall terminate on the day immediately prior to the first meeting of shareholders of the Company at which directors are to be elected that occurs after the close of the third calendar year following the calendar year in which the initial public
offering of the Company occurs unless the Plan is approved by shareholders on or prior to such meeting. 
 (b) Amendment and
Termination. The Board or the Committee may at any time amend, suspend, discontinue or terminate the Plan; provided, however, that no such amendment, suspension, discontinuance or termination shall adversely affect the rights of
any Participant in respect of any fiscal year which has already commenced, and, to the extent Section 162(m) of the Code is applicable to the Company and the Plan, no such action shall be effective without approval by the shareholders of the
Company to the extent necessary to continue to qualify the amounts payable hereunder to Covered Employees as under Section 162(m) of the Code, if such amounts are otherwise intended by the Committee to be so qualified. 

(c) No Right to Continued Employment or Awards. Nothing in this Plan shall be construed as conferring upon any Participant any
right to continue in the employment of the Company or any of its Subsidiaries. No Participant shall have any claim to be granted any award, and there is no obligation for uniformity of treatment of Participants or beneficiaries. The terms and
conditions of awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant (whether or not the Participants are similarly situated). 

(d) No Limitation on Corporate Actions. Nothing contained in the Plan shall be construed to prevent the Company or any of its
Subsidiaries from taking any corporate action which is deemed by it to be appropriate or in its best interest, whether or not such action would have an adverse effect on any awards made under the Plan. No employee, beneficiary or other person shall
have any claim against the Company or any of its Subsidiaries as a result of any such action. 
 (e) Nonalienation of
Benefits. No Participant or beneficiary shall have the power or right to transfer, anticipate, or otherwise encumber the Participant’s interest under the Plan. The Company’s obligations under this Plan are not assignable or
transferable except to (i) a corporation which acquires all or substantially all of the Company’s assets or (ii) any corporation into which the Company may be merged or consolidated. The provisions of the Plan shall inure to the
benefit of each Participant and the Participant’s beneficiaries, heirs, executors, administrators or successors in interest. 
  

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 (f) Withholding. A Participant may be required to pay to the Company or any of its
Subsidiaries and the Company or any of its Subsidiaries shall have the right and is hereby authorized to withhold from any payment due under this Plan or from any compensation or other amount owing to the Participant, applicable withholding taxes
with respect to any payment under this Plan and to take such action as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such withholding taxes. 

(g) Severability. If any provision of this Plan is held unenforceable, the remainder of the Plan shall continue in full force and
effect without regard to such unenforceable provision and shall be applied as though the unenforceable provision were not contained in the Plan. 

(h) Governing Law. The Plan shall be governed by and construed in accordance with the laws of the State of New York without regard
to conflicts of laws, except to the extent that the matter in question is mandatorily required to be governed by Netherlands law, in which case it will be governed by the applicable provision of Netherlands law. 

(i) Headings. Headings are inserted in this Plan for convenience of reference only and are to be ignored in a construction of the
provisions of the Plan. 
 (k) Compliance with Section 409A. The Plan is intended to comply with or be exempt from
Section 409A and will be interpreted in a manner intended to comply with Section 409A. Notwithstanding anything herein to the contrary, if at the time of the Participant’s separation from service with any Service Recipient the
Participant is a “specified employee” as defined in Section 409A, and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such separation from service is necessary in order to
prevent the imposition of any accelerated or additional tax under Section 409A, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits
ultimately paid or provided to the Participant) until the date that is six months and one day following the Participant’s separation from service with all Service Recipients (or the earliest date as is permitted under Section 409A), if
such payment or benefit is payable upon a separation from service with any Service Recipient. Each payment made under the Plan shall be designated as a “separate payment” within the meaning of Section 409A. 

 

 8Form of Stock Option Agreement

 Exhibit 10.26 

STOCK OPTION AGREEMENT 

THIS GRANT is hereby made effective as of the Grant Date set forth on the schedule attached hereto as Schedule A (“Schedule
A”, such date, the “Grant Date”) by and between Nielsen Holdings N.V., a company incorporated under the laws of The Netherlands, having its registered office in Diemen, The Netherlands (hereinafter referred to as the
“Company”), and the individual whose name is set forth on Schedule A hereof, who is in the Employment of the Company or a Subsidiary (hereinafter referred to as the “Optionee”). Any capitalized terms herein not
otherwise defined in this Agreement shall have the meaning set forth in the Nielsen Holdings 2010 Stock Incentive Plan (the “Plan”). 

WHEREAS, the Company wishes to carry out the Plan, the terms of which are hereby incorporated by reference and made a part of this
Agreement; and 
 WHEREAS, the Committee, charged with administration of the Plan, has determined that it would be to the
advantage and best interest of the Company and its shareholders to grant the Option provided for herein to the Optionee as an incentive for increased efforts during his term of office with the Company or any Subsidiary, and has advised the Company
thereof and instructed the undersigned officers to issue said Option; 
 NOW, THEREFORE, in consideration of the mutual
covenants herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto do hereby agree as follows: 

ARTICLE I 

DEFINITIONS 

Whenever the following terms are used in this Agreement, they shall have the meaning specified in the Plan or below unless the context
clearly indicates to the contrary. 
 Section 1.1. Cause 

“Cause” shall mean “Cause” as such term may be defined in any employment, change in control or severance
agreement between the Optionee and the Company or any of its Subsidiaries (the “Employment Agreement”), or, if there is no such Employment Agreement or if no such term is defined therein, “Cause” shall mean: (i) the
Optionee’s willful misconduct with regard to the Company or any of its Subsidiaries; (ii) the Optionee is indicted for, convicted of, or pleads nolo contendere to, a felony, a misdemeanor involving moral turpitude, or an intentional
crime involving material dishonesty other than, in any case, vicarious liability; (iii) the Optionee’s conduct involving the use of illegal drugs in the workplace; and/or (iv) the Optionee’s failure to attempt in good faith to
follow a lawful directive of his or her supervisor within ten (10) days after written notice of such failure, and/or (v) the Optionee’s breach of any agreement with the Company or any Subsidiary which continues beyond ten
(10) days after written demand for substantial performance is delivered to the Optionee by the Company (to the extent that, in the reasonable judgment of the Committee (or its designee), such breach can be cured by the Optionee). 

Section 1.2. Good Reason 

“Good Reason” shall mean, without the Optionee’s consent, (i) a reduction in the Optionee’s annual rate of
base salary (excluding any reduction in the Optionee’s base salary that is part of a plan to reduce compensation of comparably situated employees of the Company generally; provided that such reduction in the Optionee’s rate of base
salary is not greater than fifteen percent (15%) of such 

 
rate of base salary); (ii) the material diminution of the Optionee’s position due to the Company’s removal of the Optionee from the Global Band in which he was employed immediately
prior to such removal, to a position within a Global Band that is lower in rank than such prior Global Band; or (iii) the relocation by the Company or any of its Subsidiaries of the Optionee’s primary place of employment with the Company
or any of its Subsidiaries to a location more than fifty (50) miles outside of the Optionee’s principal place of employment immediately prior to such relocation (which shall not be deemed to occur due to a requirement that the Optionee
travel in connection with the performance of his or her duties); in any case of the foregoing, that remains uncured after ten (10) business days after the Optionee has provided the Company written notice that the Optionee believes in good faith
that such event giving rise to such claim of Good Reason has occurred, so long as such notice is provided within thirty (30) business days after such event has first occurred. 

Section 1.3. Option 

“Option” shall mean the right and option to acquire, on the terms and conditions set forth in Section 3.1, all or
any part of an aggregate of the number of Shares, as shall be evidenced by entry in the Company’s shareholder register, set forth on Schedule A. 

ARTICLE II 

GRANT OF OPTIONS 

Section 2.1. Grant of Options 

For good and valuable consideration, on and as of the date hereof the Company irrevocably grants to the Optionee an Option upon the terms
and conditions set forth in this Agreement. 
 Section 2.2. Exercise Price 

Subject to Section 2.4, the exercise prices of the Shares covered by the Option (the “Option Price”) shall be as set
forth on Schedule A. 
 Section 2.3. No Guarantee of Employment 

Nothing in this Agreement or in the Plan shall confer upon the Optionee any right to continue in the Employment of the Company or any
Subsidiary or shall interfere with or restrict in any way the rights of the Company or any Subsidiary, which are hereby expressly reserved, to terminate the Employment of the Optionee at any time for any reason whatsoever, with or without cause,
subject to the applicable provisions of, if any, the Optionee’s employment agreement with the Company or a Subsidiary, or an offer letter provided by the Company or a Subsidiary to the Optionee. 

Section 2.4. Adjustments to Option 

The Option shall be adjusted pursuant to Section 10 of the Plan, as applicable. Any such adjustment made in good faith thereunder
shall be final and binding upon the Optionee, the Company and all other interested persons. 
  

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 ARTICLE III 

PERIOD OF EXERCISABILITY 

Section 3.1. Commencement of Exercisability 

(a) So long as the Optionee continues to be employed by the Company or any Subsidiary, subject to Section 3.1(b) below, the Option
shall become vested and exercisable in accordance with the terms set forth on Schedule A (each date of vesting, a “Vesting Date”). 

(b) Unless otherwise provided for in Schedule A, upon a Change in Control of the Company the Option shall be subject to the provisions
set forth in Section 10 of the Plan. 
 (c) Upon a termination of the Optionee’s Employment for any reason (other than
for Cause by the Company or any Subsidiary without Good Reason by the Optionee but which shall include, for the avoidance of doubt, due to the Optionee’s death or Permanent Disability), a pro-rata portion of the installment of the Option that
would, but for such termination, be scheduled to vest on the next Vesting Date following such termination of Employment will become vested upon the date of such termination, with such pro-rata portion determined based on the number of days the
Optionee was employed by the Company or any of its Subsidiaries since the immediately prior Vesting Date, relative to 365 days. 

(d) Notwithstanding the foregoing, no portion of the Option shall become exercisable as to any additional Shares (which do not otherwise
become exercisable in accordance with Section 3.1(a), (b) or (c) above) following the termination of Employment of the Optionee for any reason and any portion of the Option which is unexercisable as of the Optionee’s termination
of Employment, shall be immediately cancelled without payment therefor. 
 Section 3.2. Expiration of Option 

The Optionee may not exercise any portion of the Option to any extent after the first to occur of the following events: 

(a) The seventh anniversary of the Grant Date, provided that the Optionee remains employed by the Company or any Subsidiary through such
date; 
 (b) Six months after the Optionee is terminated by the Company and all its Subsidiaries without Cause or the Optionee
terminates employment with Good Reason (unless earlier terminated as provided in Section 3.2(e) below); 
 (c) The first
anniversary of the date of the Optionee’s termination of employment, if the Optionee’s employment is terminated by reason of death or Permanent Disability (unless earlier terminated as provided in Section 3.2(e) below); 

(d) Immediately upon the date of the Optionee’s termination of employment by the Company and all its Subsidiaries for Cause or by
the Optionee without Good Reason (other than due to death or Permanent Disability); or 
 (e) At the discretion of the Company,
if the Committee so determines pursuant to Section 10 of the Plan. 
  

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 Notwithstanding anything set forth in this Section 3.2 to the contrary, in the event
any vested portion of the Option is scheduled to expire pursuant to any of the provisions of Section 3.2(a), (b), (c) or (d), above, and both (x) the date on which such portion of the Option is scheduled to expire falls during a
Company blackout trading period applicable to the Optionee (whether such period is imposed at the election of the Company or is required by applicable law to be imposed) and (y) the Option Price is less than the Fair Market Value, then on the
date that such portion of the Option is scheduled to expire, such portion of the Option (to the extent not previously exercised by the Optionee) shall be automatically exercised on behalf of the Optionee through a net settlement of both the exercise
price and the minimum withholding taxes due (if any) upon such automatic exercise (as described in Section 6(c)(v) of the Plan), and the net number of Shares resulting from such automatic exercise shall be delivered to the Optionee as soon as
practicable thereafter. 
 ARTICLE IV 

EXERCISE OF OPTION 

Section 4.1. Person Eligible to Exercise 

During the lifetime of the Optionee, only he may exercise an Option or any portion thereof. After the death of the Optionee, any
exercisable portion of an Option may, prior to the time when an Option becomes unexercisable under Section 3.2, be exercised by his personal representative or by any person empowered to do so under the Optionee’s will or under the
then-applicable laws of descent and distribution. 
 Section 4.2. Partial Exercise 

Any exercisable portion of an Option or the entire Option, if then wholly exercisable, may be exercised in whole or in part at any time
prior to the time when the Option or portion thereof becomes unexercisable under Section 3.2; provided, however, that any partial exercise shall be for whole Shares only. 

Section 4.3. Manner of Exercise 

An Option, or any exercisable portion thereof, may be exercised solely by delivering to the designated individual at the Company or his
office all of the following prior to the time when the Option or such portion becomes unexercisable under Section 3.2: 

(a) Notice from the Optionee or the other person then entitled to exercise the Option or portion thereof, stating that the Option or
portion thereof is thereby exercised, such notice complying with all applicable rules, policies, and procedures established by the Committee; 

(b)(i) Full payment (in cash or by check or by a combination thereof) for the Shares with respect to which such Option or portion thereof
is exercised or (ii) indication that the Optionee elects to have the number of Shares that would otherwise be issued to the Optionee reduced by a number of Shares having an equivalent Fair Market Value to the payment that would otherwise be
made by Optionee to the Company pursuant to clause (i) of this subsection (b); 
 (c)(i) Full payment (in cash or by check
or by a combination thereof) of all amounts which, under applicable law, the Company is required to withhold upon exercise of the Option or (ii) indication that the Optionee elects to have the number of Shares that would otherwise be issued to
the Optionee reduced by a number of Shares having an equivalent Fair Market Value to the payment that would otherwise be made by Optionee to the Company pursuant to clause (i) of this subsection (c); and 

 

 4 

 (d) In the event the Option or portion thereof shall be exercised pursuant to
Section 4.1 by any person or persons other than the Optionee, appropriate proof of the right of such person or persons to exercise the Option. 

Without limiting the generality of the foregoing, the Committee may require an opinion of counsel acceptable to it to the effect that any
subsequent transfer of shares acquired on exercise of an Option does not violate the Securities Act of 1933, as amended. 

Section 4.4. Conditions to Issuance of Stock 

The shares of stock issuable upon the exercise of an Option, or any portion thereof, shall not be required to be so physically issued to
the Optionee. For the avoidance of doubt, shares shall be deemed to have been issued when evidenced by entry in the Company’s shareholder register. Such shares shall be fully paid and nonassessable. The Company shall not be required to issue or
deliver any certificate or certificates for shares of stock acquired upon the exercise of an Option or portion thereof prior to fulfillment of all of the following conditions: 

(a) The obtaining of approval or other clearance from any state, provincial or federal governmental agency which the Committee shall, in
its reasonable and good faith discretion, determine to be necessary or advisable (and the Company and the Optionee shall each use reasonable efforts to obtain all such clearances and approvals as soon as reasonably practicable); and 

(b) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from time to time establish for
reasons of administrative convenience or as may otherwise be required by applicable law. 
 Section 4.5. Rights as Stockholder

 The holder of an Option shall not be, nor have any of the rights or privileges of, a stockholder of the Company in respect of
any shares he may be issued upon the exercise of the Option or any portion thereof unless and until such shares shall have been issued as evidenced by entry in the Company’s shareholder register upon satisfaction of the conditions set forth in
Section 4.4. 
 ARTICLE V 

MISCELLANEOUS 

Section 5.1. Administration 

The Committee shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation
and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Committee in good faith shall be final and binding upon the Optionee, the
Company and all other interested persons. No member of the Committee shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the Option. In its absolute discretion, the Board may at
any time and from time to time exercise any and all rights and duties of the Committee under the Plan and this Agreement. 
  

 5 

 Section 5.2. Option Not Transferable 

Subject to applicable law to the contrary, neither the Option nor any interest or right therein or part thereof shall be liable for the
debts, contracts or engagements of the Optionee or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or
involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that
this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution or to a partnership, limited liability company, corporation, trust or custodianship, the beneficiaries of which may include only the
Optionee, his spouse (or ex-spouse) or his lineal descendants (including adopted children) or, if at any time after any such transfer there shall be no then living spouse or lineal descendants, then to the ultimate beneficiaries of any such trust or
to the estate of a deceased beneficiary. 
 Section 5.3. Notices 

Any written notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the
designated individual, and any notice to be given to the Optionee shall be addressed to him at the address set forth in Schedule A, provided that notice may be provided electronically by complying with any applicable rules, policies, and
procedures established by the Committee. By a notice given pursuant to this Section 5.3, either party may hereafter designate a different address for notices to be given to it or him. Any notice which is required to be given to the Optionee,
shall, if the Optionee is then deceased, be given to the Optionee’s personal representative if such representative has previously informed the Company of his status and address by notice under this Section 5.3 that complies with any
applicable rules, policies, and procedures established by the Committee. Written notice, if permitted by the Committee, shall have been deemed duly given, in each case as follows: (i) upon electronic confirmation of facsimile, (ii) one
business day following the date sent when sent by overnight delivery and (iii) five (5) business days following the date mailed when mailed by registered or certified mail return receipt requested and postage prepaid. 

Section 5.4. Titles; Pronouns 

Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. The
masculine pronoun shall include the feminine and neuter, and the singular the plural, where the context so indicates. 

Section 5.5. Applicability of Plan; Management Stockholders Agreement; Sale Participation Agreement 

The Option and the Shares issued to the Optionee upon exercise of the Option shall be subject to all of the terms and provisions of the
Plan, to the extent applicable to the Option and such shares. In the event of any conflict between this Agreement and the Plan, the terms of the Plan shall control. The Option and the Shares issued to the Optionee upon exercise of the Option shall
not be subject to any of the terms of any Management Stockholders Agreement or Sale Participation Agreement entered into by the Optionee and the Company or its Affiliates. 

Section 5.6. Amendment 

This Agreement may be amended only by a writing executed by the parties hereto, which specifically states that it is amending this
Agreement. 
  

 6 

 Section 5.7. Governing Law 

The laws of the State of New York shall govern the interpretation, validity and performance of the terms of this Agreement, except to the
extent that the issue or transfer of Shares shall be subject to mandatory provisions of the laws of The Netherlands. 

Section 5.8. Arbitration 

In the event of any controversy among the parties hereto arising out of, or relating to, this Agreement which cannot be settled amicably
by the parties, such controversy shall be finally, exclusively and conclusively settled by mandatory arbitration conducted expeditiously in accordance with the American Arbitration Association rules, by a single independent arbitrator. Such
arbitration process shall take place within the Borough of Manhattan, in the City of New York, New York. The decision of the arbitrator shall be final and binding upon all parties hereto and shall be rendered pursuant to a written decision, which
contains a detailed recital of the arbitrator’s reasoning. Judgment upon the award rendered may be entered in any court having jurisdiction thereof. Each party shall bear its own legal fees and expenses. Notwithstanding anything herein to the
contrary, if the Employment Agreement contains a similar provision relating to arbitration and/or dispute resolution, such provision in the Employment Agreement shall govern any controversy hereunder. 

Section 5.9. Code Section 409A 

If any payments of money, delivery of Shares or other benefits due to the Optionee hereunder could cause the application of an accelerated
or additional tax under Section 409A of the Code, such payments, delivery of shares or other benefits shall be deferred if deferral will make such payment, delivery of shares or other benefits compliant under Section 409A of the Code,
otherwise such payment, delivery of shares or other benefits shall be restructured, to the extent possible, in a manner, determined by the Company and reasonably acceptable to the Optionee, that does not cause such an accelerated or additional tax.

 Section 5.10. Counterparts 

This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and
hereto were upon the same instrument. 
 Section 5.11. No Acquired Rights 

In participating in the Plan, the Optionee acknowledges and accepts (i) that the Board has the power to amend or terminate the Plan,
to the extent permitted thereunder, at any time, and (ii) that the opportunity given to the Optionee to participate in the Plan is entirely at the discretion of the Committee and does not obligate the Company or any of its Affiliates to offer
such participation in the future (whether on the same or different terms). The Optionee further acknowledges and accepts that (a) such Optionee’s participation in the Plan is not to be considered part of any normal or expected
compensation, (b) the value of the Options or the Shares shall not be used for purposes of determining any benefits or compensation payable to the Optionee or the Optionee’s beneficiaries or estate under any benefit arrangement of the
Company or any Subsidiary, and (c) the termination of the Optionee’s employment with the Company and all Subsidiaries under any circumstances whatsoever will give the Optionee no claim or right of action against the Company or any
Subsidiary in respect of any loss of rights under this Agreement or the Plan that may arise as a result of such termination of employment. 
  

 7 

			
	NIELSEN HOLDINGS N.V.
		
	By:	 	  

	Its:	 	  

	
	OPTIONEE:
	
	  

	[NAME]
	
	Address:
	
	  

	  

[Signature page of stock option agreement.] 

 Schedule A 

 

			
		
	Name of Optionee:	  	
		
	Address:	  	
		
	Grant Date	  	[ — ]
		
	Aggregate number of Shares for which the Option granted hereunder is exercisable:	  	[ — ]
		
	Option Price per Share:	  	$[—]
		
	Normal Vesting Schedule:	  	Vesting shall occur as follows: [—]% of the Shares underlying such Option granted hereunder shall become vested on each of
the [    ] anniversaries of the Grant Date.
		
	Vesting on a “Change in Control”:	  	Per Plan terms.

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