Document:

EX-10.1

 Exhibit 10.1 
 AIR PRODUCTS AND CHEMICALS, INC. 
 CORPORATE EXECUTIVE COMMITTEE

 SEPARATION PROGRAM 
 As Amended Effective as of 1 December 2013 

 ARTICLE I 
 PURPOSE AND TERM OF PLAN 
 Section 1.01 Purpose. Air Products and
Chemicals, Inc. hereby establishes the Air Products and Chemicals, Inc. Corporate Executive Committee Separation Program (the “Plan”) for the purpose of facilitating the planned separations of Covered Executives (as defined below) and
providing severance benefits to a Covered Executive. 
 Section 1.02 Term of the Plan. The Plan, as set forth
herein, was originally effective July 17, 2003. This amendment and restatement of the Plan shall be effective for a Termination of Employment occurring on or after 1 December 2013. The Plan will continue until such time as the Committee
(as defined below) acting in its sole discretion, elects to modify, supersede or terminate the Plan in accordance with, and subject to, the provisions of Article V. 
 ARTICLE II 
 DEFINITIONS 

Section 2.01 “Administrator” shall mean the Committee or, to the extent the Committee delegates its powers in accordance
with Section 4.01, its delegate with respect to matters so delegated. 
 Section 2.02 “Air Products” shall
mean Air Products and Chemicals, Inc. 
 Section 2.03 “Annual Incentive Plan” shall mean the Air Products and
Chemicals, Inc. Annual Incentive Plan and/or any similar, successor or substitute short-term bonus plan, program or pay practice. 
 Section 2.04 “Benefit” or “Benefits” shall mean any or all of the benefits that a Covered Executive is entitled to receive pursuant to Sections 3.02, 3.03 and 3.04 of the
Plan. 
 Section 2.05 “Board” means the Board of Directors of Air Products. 

Section 2.06 “Cause” shall mean (a) the willful failure of a Covered Executive to substantially perform his or her
duties (other than any such failure due to Disability), after a demand for substantial performance is delivered, which demand shall identify the manner in which the Company believes that the Covered Executive has not substantially performed his
duties, (b) a Covered Executive’s engaging in willful and serious misconduct that has caused or would reasonably be expected to result in material injury to the Company or any of its affiliates, (c) a Covered Executive’s
conviction of, or entering a plea of nolo contendere to, a crime that constitutes a felony, (d) a Covered Executive’s engaging (i) in repeated acts of insubordination or (ii) an act of dishonesty, or
(e) violation by the Covered Executive of any provision of Company’s Code of Conduct. 

  
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 Section 2.07 “CEO” shall mean the Chief Executive Officer of Air Products, or
a former chief executive officer of Air Products whose removal from such position constituted Good Reason. 
 Section 2.08
“Change in Control” shall be as defined under the Company’s standard change in control agreement for senior executives or, if applicable, the change in control agreement that is in effect for a Covered Executive at the time of the
Change in Control. 
 Section 2.09 “Committee” shall mean the Management Development and Compensation Committee
of the Air Products Board of Directors, or such other person or persons appointed by the Board of Directors of the Company, to act on behalf of the Company with respect to the Plan as provided in the Plan. 

Section 2.10 “Company” shall mean Air Products and any of its wholly or majority owned subsidiaries and affiliates. The
term “Company” shall include any successor to Air Products such as a corporation succeeding to the business of Air Products or any subsidiary, by merger, consolidation or liquidation, or purchase of assets or stock or similar transaction.

 Section 2.11 “Covered Executive” shall mean (a) the CEO and (b) each individual who serves as a
member of the Company’s Corporate Executive Committee at the time of his or her Employment Termination Date; provided that, in the event an individual is transferred from his or her position on the Corporate Executive Committee during a planned
transition period in anticipation of the individual’s Termination of Employment, the Administrator may, in its discretion, determine that such individual is a Covered Executive. 

Section 2.12 “Disability” shall be as defined under the Company’s long-term disability plan. 

Section 2.13 “Employment Termination Date” shall mean the date on which a Covered Executive incurs a Termination of
Employment. 
 Section 2.14 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended.

 Section 2.15 “Good Reason” shall mean the occurrence of any of the following without a Covered
Executive’s consent: 
 (a) A material adverse change in the Covered Executive’s position or office
with the Company, including, without limitation, dismissal of the Covered Executive from membership on the Corporate Executive Committee and any successor senior executive committee; or a material diminution in the Covered Executive’s duties,
reporting responsibilities and authority with the Company; or an assignment to the Covered Executive of duties or responsibilities, which are materially inconsistent with the Covered Executive’s status or position with the Company;
provided that, any of the foregoing in connection with termination of a Covered Executive’s employment for Cause, Retirement or Disability shall not constitute Good Reason; 

  
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 (b) Reduction of the Covered Executive’s Salary or failure by the
Company to pay, in substantially equal installments conforming with the Company’s normal pay practices, the Covered Executive’s Salary; provided, however, that the Company may reduce a Covered Executive’s Salary if such
reduction is no less favorable to the Covered Executive than the average annual percentage reduction during the applicable Fiscal Year for all Highly Compensated Employees; provided further that the Company may adjust its normal
payroll practices with respect to the payment of a Covered Executive’s Salary provided that such adjustment is applicable to all Highly Compensated Employees; 

(c) A material reduction in a Covered Executive’s annual incentive opportunities under the Annual Incentive Plan
without a corresponding increase in other incentive compensation payable by the Company; provided, however, that the Company may reduce a Covered Executive’s annual incentive opportunities under the Annual Incentive Plan if such
reduction is on a basis no less favorable to the Covered Executive than the basis upon which the Company reduces the annual incentive opportunities payable to all Highly Compensated Employees during the applicable Fiscal Year; 

(d) A material reduction in a Covered Executive’s aggregate Company provided benefits under the Company’s
employee pension benefit, life insurance, medical, dental, health and accident, disability, severance and paid vacation plans, programs and practices; provided however that the Company may reduce or adjust the aggregate benefits
payable to a Covered Executive if such reduction is on a basis no less favorable to the Covered Executive than the basis on which the Company reduces aggregate benefits payable with respect to Highly Compensated Employees; or 

(e) A requirement by the Company that a Covered Executive relocate his or her principal place of employment by more than
fifty (50) miles from the location in effect immediately prior to the relocation. 
 Notwithstanding anything to the
contrary contained herein, a Covered Executive’s termination of employment will not be treated as for Good Reason as the result of the occurrence of any event specified in the foregoing clauses (a) through (f) (each such event, a
“Good Reason Event”) unless, within 90 days following the occurrence of such event, the Covered Executive provides written notice to the Company of the occurrence of such event, which notice sets forth the exact nature of the event and the
conduct required to cure such event. The Company will have 30 days from the receipt of such notice within which to cure such event (such period, the “Cure Period”). If, during the Cure Period, such event is remedied, the Covered Executive
will not be permitted to terminate his or her employment for Good Reason. If, at the end of the Cure Period, the Good Reason Event has not been remedied, a Covered Executive’s voluntary termination will be treated as for Good Reason during the
90-day period that follows the end of the Cure Period. If a Covered Executive does not terminate employment during such 90-day period, the Covered Executive will not be permitted to terminate employment and receive the payments and benefits set
forth under this Agreement as a result of such Good Reason Event. 

  
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 Section 2.16 “Highly Compensated Employee” shall mean the highest paid one
percent of employees of the Company together with all corporations, partnerships, trusts, or other entities controlling, controlled by, or under common control with, the Company. 

Section 2.17 “Long-Term Incentive Plan” shall mean the Air Products and Chemicals, Inc. Long-Term Incentive Plan, approved
by Air Products’ shareholders most recently on 28 January 2010, together with all predecessor and similar successor or substitute intermediate and/or long-term incentive compensation plan or program. 

Section 2.18 “Pension Plans” shall mean, the Air Products and Chemicals, Inc. Pension Plan for Salaried Employees, as
amended from time to time together with any similar, succeeding or substitute plan, and the Supplementary Pension Plan of Air Products and Chemicals, Inc. as amended from time to time, together with any similar, succeeding or substitute plan, and
any private annuity or pension agreement between the Covered Executive and the Company. 
 Section 2.19 “Plan”
shall mean the Air Products and Chemicals, Inc. Corporate Executive Committee Separation Program, as set forth herein, and as the same may from time to time be amended. 
 Section 2.20 “Retirement Savings Plan” shall mean the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or
substitute plan. 
 Section 2.21 “Plan Year” shall mean each period commencing on October 1 during which the
Plan is in effect and ending on the subsequent September 30. 
 Section 2.22 “Salary” shall mean an amount
equal to the annual rate of a Covered Executive’s base salary payable to the Covered Executive in all capacities with the Company and its Subsidiaries or affiliates for the Plan Year in which a Covered Executive’s Employment Termination
Date occurs. 
 Section 2.23 “Savings Plans” shall mean the Retirement Savings Plan and the Air Products and
Chemicals, Inc. Deferred Compensation Plan, as amended from time to time, together with any similar, succeeding or substitute plan. 
 Section 2.24 “Section 409A” shall mean Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations thereunder as in effect from time to time. 

Section 2.25 “Termination of Employment” shall mean termination of the active employment relationship between a Covered
Executive and the Company (a) by the Company for reasons other than the Covered Executive’s death, Disability, retirement after attaining age 65 or Cause or (b) by the Covered Executive for Good Reason. 

  
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 ARTICLE III 
 ENTITLEMENT TO AND DESCRIPTION OF BENEFITS 
 Section 3.01 Earned Salary;
Accrued Vacation. Upon a Covered Executive’s Termination of Employment, the Company shall pay to the Covered Executive, as soon as practicable but no later than 30 days after the Covered Executive’s Employment Termination Date,
the Covered Executive’s (i) Salary, to the extent earned but unpaid as of the Employment Termination Date, and (ii) vacation pay accrued through the Employment Termination Date. The Covered Executive shall also be entitled to business
expenses incurred but unreimbursed as of the Employment Termination Date, earned but unpaid bonuses, and other benefits accrued under the Company’s benefit plans as of the Employment Termination Date; provided that such amounts
shall be paid to the Covered Executive in accordance with the applicable Company plan, program or policy. 
 Section 3.02
Cash Benefits. Upon a Covered Executive’s Termination of Employment and the Covered Executive’s satisfaction of the conditions specified in Section 3.05 of the Plan, the Covered Executive shall be entitled to receive the
following Benefits, as well as the Benefits specified in Sections 3.03 and 3.04: 
 (a) A lump sum cash
severance payment equal to one times (in the case of the CEO, two times) the sum of: (I) the Covered Executive’s Salary and (II) the average of the Annual Incentive Plan awards received by the
Covered Executive for the three fiscal years for which his or her Annual Incentive Plan awards were the highest of the last five years (or, if less, the number of fiscal years for which the Covered Executive has received Annual Incentive Plan
awards). 
 (b) A lump sum cash payment which shall be equal to the product of: (I) the average of the
Annual Incentive Plan awards received by the Covered Executive for the three fiscal years for which his or her Annual Incentive Plan awards were the highest of the last five years (or, if less, the number of fiscal years for which the Covered
Executive has received Annual Incentive Plan awards) and (II) a fraction, the numerator of which is the number of days in the current Plan Year through the Covered Executive’s Employment Termination Date, and the denominator of which is
365. 
 (c) (i) If the Covered Executive is a participant in the Pension Plans and is not a Core Contribution Participant under
the Retirement Savings Plan, a lump sum cash payment equal to the difference between the actuarial present values as of the Employment Termination Date of: 
 (A) The Covered Executive’s accrued vested pension benefits under the Pension Plans, calculated assuming that payment of the benefits will commence in the form of a straight life annuity on the
earliest date on which the Covered Executive could commence payment if he or she is eligible for an early retirement subsidy on any portion of his or her accrued benefits on the Employment Termination Date, or on the first day of the month after the
Covered Executive attains age 65 if he or she is not; and 

  
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 (B) The Covered Executive’s accrued vested pension benefits under the
Pension Plans calculated by adding one year (in the case of the CEO, two years) of service to the actual service credited under such plans for benefit accrual and vesting purposes and including any early retirement subsidy available under the
Pension Plans for which the Covered Executive is not eligible due to termination before satisfying age and service requirements for such subsidy, and assuming that the Covered Executive’s benefit will commence in the form of a straight life
annuity on the earliest date on which he or she could retire and commence a benefit under the Pension Plans. 
 For purposes of
calculating the actuarial present values of (A) and (B) above, the interest rate shall be the average of the average monthly yields for municipal bonds published monthly by Moody’s Investors’ Service Inc. for the three months
immediately preceding the Employment Termination Date and the life expectancy assumptions shall be those most frequently used by the Pension Plans’ actuaries for other purposes. The calculation of the pension payment described in this
subparagraph shall be made by a nationally recognized firm of enrolled actuaries acceptable to the Covered Executive and the Company. The Company shall pay the reasonable fees and expenses of such actuarial firm. The calculation made by such
actuarial firm shall be binding on the Covered Executive and the Company. 
 (ii) If the Covered Executive is a
Core Contribution Participant in the Retirement Savings Plan, a lump sum cash payment (in lieu of the payment described in clause (i) above) equal to the sum of: (A) the Company Core Contributions and Core Credits (as defined in the
Savings Plans) that the Covered Executive would have received under the Savings Plans during the one-year period (in the case of the CEO, two-year period) following the Employment Termination Date assuming that (I) the Covered Executive
remained actively employed by the Company during such period, (II) the Covered Executive’s Salary continued at the higher of the rate in effect on the Employment Termination Date or the rate in effect immediately prior to any purported
reduction in the Covered Executive’s Salary constituting Good Reason, and (III) the Covered Executive’s Annual Incentive Plan awards were equal in amount to the higher of the most recent award received prior to the Employment
Termination Date and the average of the awards available to the Covered Executive under the Annual Incentive Plan during and/or for each of the three immediately preceding Fiscal Years; provided that the amount payable to the Covered Executive under
this clause (c) shall in no event include any Company matching contributions or credits on such Company Core Contributions or Core Credits; and (B) any early retirement subsidy available under the Pension Plans (as in effect immediately
prior to the beginning of the Contract Period) for which the Covered Executive is not eligible solely due to termination before satisfying 

  
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age and service requirements for such subsidy and assuming that his or her benefit under the Pension Plans will commence in the form of a straight life annuity on the later of the Employment
Termination Date or the date on which he or she could retire and commence a benefit and otherwise calculated on the basis of the assumptions describe in clause (i) above. 
 Section 3.03 Non-Cash Benefits. In addition to the Benefits provided under Section 3.02, a Covered Executive shall receive, subject to the Covered Executive’s satisfaction of the
conditions specified in Section 3.05 of the Plan, the following additional benefits: 
 (a) If the Covered
Executive is covered under any of the Company’s group medical and dental plans as of the Employment Termination Date, and the Covered Executive is eligible for and timely elects continuation coverage under such plans pursuant to the
Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company will pay the cost of such COBRA coverage on behalf of the Covered Executive, and each of his dependents who were covered under such medical and dental plans as
of the Employment Termination Date and who are qualified beneficiaries under COBRA, for twelve months following the Employment Termination Date. Notwithstanding the preceding sentence, to the extent that any Covered Executive is eligible to commence
retiree medical benefits under the Company’s group medical plan on the Employment Termination Date, the preceding sentence shall not apply to such Covered Executive with respect to such plan and shall not affect the Covered Executive’s
entitlement to retiree medical benefits under the terms and conditions of such plan. 
 (b) Outplacement
assistance at times and locations that are convenient to the Covered Executive; provided that such outplacement services will be provided for a period of no more than 12 months following the Employment Termination Date. 

Section 3.04 Long-Term Incentive Plan Benefits. In addition to the Benefits payable under Sections 3.02 and 3.03, a
Covered Executive’s Long-Term Incentive Plan awards shall, subject to the Covered Executive’s satisfaction of the conditions specified in Section 3.05 of the Plan, be treated in accordance with this Section 3.04. 

(a) (i) All stock options and stock appreciation rights that are exercisable as of the Covered Executive’s Employment Termination
Date shall continue to be exercisable following such Employment Termination Date and shall remain exercisable for the remainder of the term applicable to the stock option or stock appreciation right. All stock options and stock appreciation rights
that are not exercisable as of the Covered Executive’s Employment Termination Date shall automatically terminate as of the Employment Termination Date. 
 (ii) All unearned performance shares and other awards with performance-based vesting shall vest as of the Covered Executive’s Employment Termination Date in an amount to be determined by multiplying
(A) the number of shares or units that would have been earned by the Covered Executive under each such award at the level of performance determined by the Committee at the end of the applicable performance cycle for other senior executives of
the 

  
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Company by (B) a fraction, the numerator of which is the number of full months that have elapsed between the beginning of the applicable performance period and the Covered
Executive’s Employment Termination Date and the denominator of which is the number of full months in such performance period. Payments in respect of such vested awards shall be made within 30 days of the Committee’s decision, or, if
later, as soon as permissible under Section 409A. 
 (iii) All other awards, including deferred stock units
(other than deferred stock units that vest under the Long-Term Incentive Plan or the applicable award agreement upon a Covered Executive’s death, disability or retirement) and restricted stock, that are subject to time-based vesting or other
non-performance based conditions shall vest as of the Covered Executive’s Employment Termination Date in an amount determined by multiplying (A) the number of shares or units that are subject to the award by (B) a fraction, the
numerator of which is the number of full months that shall have elapsed since the beginning of the applicable vesting period and the denominator of which is the number of full months in the vesting period. Deferred stock units and restricted stock
that become vested under the Long-Term Incentive Plan or applicable award agreement upon a Covered Executive’s death, disability or retirement shall become fully vested on the Covered Executive’s Employment Termination Date. Payments in
respect of such vested awards shall be made on the day after the Release Effective Date (as defined below) or, if later, as soon as permissible under Section 409A. 

(b) For purposes of this Section 3.04, fractional shares of Common Stock shall be rounded up to the next highest
whole share of stock. 
 (c) Notwithstanding anything herein to the contrary, the treatment of Long-Term
Incentive Plan awards held by a Covered Executive whose Termination of Employment is a Retirement (as defined in the Long-Term Incentive Plan) shall be determined under the Long-Term Incentive Plan and applicable award agreement (and not under this
Section 3.04) to the extent determined by the Committee on the Covered Executive’s Employment Termination Date to be more favorable to the Covered Executive. 

(d) Notwithstanding anything herein to the contrary, in the event a Covered Executive other than the CEO, who was a member
of the Company’s Corporate Executive Committee as of 1 December 2013 and had been a member of such Committee for at least one year as of such date, has an Employment Termination Date between 1 December 2013 and 31 January 2016,
his outstanding Long-Term Incentive Plan awards shall be treated in accordance with the following: 
 (i) All
stock options and stock appreciation rights which are outstanding as of the Covered Executive’s Employment Termination Date will immediately vest and shall be or become exercisable on the same terms as if the Covered Executive had remained
actively employed by the Company following the Employment Termination Date for the full term; 

  
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 (ii) All outstanding unvested performance shares or other awards with
performance-based vesting conditions shall vest as of the Employment Termination Date and be earned at a level consistent with the earn out determination made on behalf of the Company for other senior executives for the relevant award cycle, and
payments in respect of such awards shall be made at the end of the deferral period for the awards under the terms of the award or, if later, as soon as permissible under Section 409A; 

(iii) All outstanding restricted stock shall immediately vest and the number of shares of restricted stock held by the
Covered Executive shall be reduced to satisfy any tax withholding obligations with respect to the vesting of the restricted stock; and all restrictions applicable to the remaining shares of restricted stock will lapse at the end of the Restriction
Period provided under the terms of the award; 
 (iv) All other outstanding awards, including career shares,
deferred performance shares and restricted stock units, that are subject to time-based vesting or other non-performance-based conditions, shall be fully vested as of the Employment Termination Date and payments in respect thereof shall be made at
the time provided for payment of vested awards under the terms of the award or, if later, as soon as permissible under Section 409A; 
 provided that, for purposes of this subsection 3.04(d), Good Reason shall not include: 
 (i) a requirement by the Company that a Covered Executive relocate his or her principal place of employment by more than fifty (50) miles from the location in effect immediately prior to the
relocation; 
 (ii) a change in position, office, duties, reporting responsibilities, or authority of a Covered
Executive if, in his new role, the Covered Executive continues to perform a significant policy making function at the enterprise level for the Company and serve on the Corporate Executive Committee or any successor senior executive committee;

 (iii) the reassignment of responsibility for the Human Resources organization to a person other than the
Senior Vice President, General Counsel, and Chief Administrative Officer, or the reassignment of the position of China President to a person other than the Senior Vice President and General Manager – Tonnage Gases, Equipment and Energy and
China President; or 
 (iv) discontinuation of international assignment benefits and payments upon termination of
an international assignment if occurring at a time and in a manner consistent with the Company’s International Assignment Policy as in effect on 1 December 2013. 
 Section 3.05 Conditions to Entitlement to Benefit. To be eligible to receive any Benefits under the Plan after the Covered Executive’s Employment Termination Date has been set, a Covered
Executive must (a) continue in his then current office and perform such duties for 

  
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the Company as are typically related to the Covered Executive’s position (or such other position as the Board reasonably requests) including identifying, recruiting and/or transitioning the
Covered Executive’s successor, in all events performing all assigned duties in the manner reasonably directed by the CEO in his sole discretion, or if the CEO is the Covered Executive, by the Board in its sole discretion, and cease his
employment on the Employment Termination Date; (b) prior to the 60th day following the Employment Termination Date, execute a release and discharge of the Company, in substantially the form attached hereto as Appendix A with such changes therein as the Administrator
shall determine, in his discretion, acting on behalf of the Company, from any and all claims, demands or causes of action (other than as provided in said Appendix A) and such release must become effective and irrevocable prior to the 60th day following the Employment Termination Date (such 60th day, the “Release Effective Date”); and (c) prior to
the Release Effective Date, execute a noncompetition, nonsolicitation, and nondisparagement agreement that extends for the two-year period following the Covered Executive’s Employment Termination Date in substantially the form attached hereto
as Appendix B, with such changes therein as the Administrator shall determine, in his discretion, acting on behalf of the Company. No Benefits due hereunder shall be paid to a Covered Executive who has not complied in all respects with the
requirements of this Section 3.05. 
 Section 3.06 Method of Payment. Benefits under the Plan shall be paid as
follows: 
 (a) The cash Benefits determined pursuant to Section 3.02 hereof shall be paid in a lump sum,
subject to all employment and withholding taxes applicable to the type of payments made. Such payments shall be made on the day after the Covered Executive’s Release Effective Date. 

(b) The non-cash Benefits described in Section 3.03 shall be provided after the Employment Termination Date in
accordance with the applicable Company plan, program or policy; provided that if the Covered Executive fails to comply with all of the conditions set forth in Section 3.05, the Covered Executive shall be required to repay to the
Company in cash within five (5) business days after written demand is made therefor by the Company, an amount equal to the value of any Benefit received under Section 3.03. 

(c) Long-Term Incentive Plan awards referred to in Section 3.04 will be paid on the later of the date contemplated
under the applicable award agreement and the date (if any) provided for under Section 3.04; provided that payment shall be made in accordance with the applicable award agreement to the extent required to avoid taxes or penalties
under Section 409A. 
 Section 3.07 Death or Disability. If a Covered Executive incurs Disability or dies
before the Employment Termination Date has been set, no Plan payments or other benefits will be due and owing to the Covered Executive or, in the case of his death, to his estate or beneficiary. 

If a Covered Executive incurs Disability or dies after his Employment Termination Date has been set but not attained, the Administrator
shall cause any Benefits due under the Plan to be paid to the Covered Executive or, in the case of his death, to the Covered Executive’s 

  
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Designated Beneficiary as defined in the Long-Term Incentive Plan; provided, however, that if the Covered Executive dies after he has retired prior to attaining the Employment Termination Date,
no Benefits shall be due and owing under the Plan to the Covered Executive’s designated beneficiary, his estate, or any other person. For this purpose, “retire” means to have separated from employment and begun to receive an immediate
pension benefit under a Company-sponsored defined benefit pension plan. 
 Section 3.08 Change in Control. In the
event of a Change in Control of the Company, the change in control agreement applicable to the Covered Executive shall continue in full force and effect and the Plan shall be null and void; and, if the Change in Control occurs after the Employment
Termination Date has been set but before the Employment Termination Date, the change in control agreement applicable to the Covered Executive shall continue in full force and effect and the Employment Termination Date under the Plan shall be treated
under the change in control agreement as the Covered Executive’s “Termination Date” for other than death, “Disability” or “Cause”, as such terms appearing in quotations are defined in the change in control
agreement, and the Plan shall be null and void. 
 ARTICLE IV 

ADMINISTRATION 

Section 4.01 Authority and Duties. It shall be the duty of the Administrator, on the basis of information supplied by the
Company, to determine the entitlement of each Covered Executive to Benefits under the Plan and to approve the amount of the cash Benefits payable to each such Covered Executive. The Company shall make such payments as the Administrator determines to
be due to Covered Executives. The Administrator shall have the full power and authority to (a) determine whether a Covered Executive’s termination of employment with the Company constitutes a Termination of Employment for purposes of the
Plan and (b) construe, interpret and administer the Plan, to correct deficiencies therein, and to supply omissions. All decisions, actions, and interpretations of the Administrator shall be final, binding, and conclusive upon the parties. The
Committee may delegate to appropriate Company officers its authority and its duties as it shall deem appropriate in its sole discretion, and the actions of such person or persons shall have the same force and effect as any action of the Committee in
respect of the Plan (other than any action by such person or persons to delegate the Committee’s duties or authority hereunder); provided, however, that the Committee shall retain authority to approve any payments to persons who are treated as
executive officers of the Company for U.S. securities law purposes. 
 Section 4.02 Expenses of the Administrator.
All reasonable expenses of the Administrator shall be paid or reimbursed by the Company upon proper documentation. The Company shall indemnify and defend the Administrator against personal liability for actions taken in good faith in the discharge
of its duties hereunder. 
 Section 4.03 Actions of the Administrator. Whenever a determination is required of the
Administrator under the Plan, such determination shall be made solely at the discretion of the Administrator. In addition, the exercise of discretion by the Administrator need not be uniformly applied to similarly situated Covered Executives and
shall be final and binding on each Covered Executive or beneficiary(ies) to whom the determination is directed. 

  
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 ARTICLE V 
 AMENDMENT AND TERMINATION 
 The Company, acting through the Committee, retains the
right, at any time and from time to time, to amend, suspend, or terminate the Plan in whole or in part, for any reason, and, except as provided below, without either the consent of or the prior notification to any Covered Executive. Notwithstanding
the foregoing and except as specifically provided under Section 7.12(d), no such amendment, suspension or termination shall (a) give the Company the right to recover any amount paid to a Covered Executive prior to the date of such action,
(b) cause the cessation and discontinuance of payments of Benefits to any person or persons under the Plan already receiving Benefits, or (c) be effective to terminate or reduce the Benefits or prospective Benefits of any Covered Executive
whose Employment Termination Date has been set as of the date of such amendment, suspension or termination (unless the express written consent of the Covered Executive has been obtained with respect thereto). 

ARTICLE VI 

DUTIES OF THE COMPANY 
 Section 6.01 Records. The Company shall supply to the Administrator all records and information necessary to the performance of the Administrator’s duties. 

Section 6.02 Discretion. Any decisions, actions or interpretations to be made under the Plan by the Board, the Committee, the
Company, or the Administrator, acting on behalf of the Company, shall be made in its or their respective sole discretion, not in any fiduciary capacity and need not be uniformly applied to similarly situated individuals and shall be final, binding
and conclusive upon all parties. 
 ARTICLE VII 
 MISCELLANEOUS 
 Section 7.01 Nonalienation of Benefits. None of the
payments, Benefits or rights of any Covered Executive shall be subject to any claim of any creditor, and, in particular, to the fullest extent permitted by law, all such payments, Benefits and rights shall be free from attachment, garnishment,
trustee’s process, or any other legal or equitable process available to any creditor of such Covered Executive. No Covered Executive shall have the right to alienate, anticipate, commute, pledge, encumber or assign any of the Benefits or
payments which he may expect to receive, contingently or otherwise, under the Plan. 
 Section 7.02 No Contract of
Employment. Neither the establishment of the Plan, nor any modification thereof, nor the creation of any fund, trust or account, nor the payment of any Benefits shall be construed as giving any Covered Executive, or any person whosoever, the
right to be retained in the service of the Company, and all Covered Executives shall remain subject to discharge to the same extent as if the Plan had never been adopted. 

  
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 Section 7.03 Entire Agreement. Except as may be provided in a change in control
agreement that is in effect for a Covered Executive at the time of a Change in Control between the Company and a Covered Executive, this Plan document, as it may be amended by the Committee, and the documents specifically referenced herein, or in
such amendment, shall constitute the entire agreement between the Company and the Covered Executive with respect to the Benefits promised hereunder and no other agreements, representations, oral or otherwise, express or implied, with respect to such
Benefits or any severance benefits shall be binding on the Company. 
 Section 7.04 Severability of Provisions. If
any provision of the Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been included. 

Section 7.05 Successors, Heirs, Assigns, and Personal Representatives. The Plan shall be binding upon the heirs, executors,
administrators, successors and assigns of the parties, including each Covered Executive, present and future. 

Section 7.06 Headings and Captions. The headings and captions herein are provided for reference and convenience only, shall
not be considered part of the Plan, and shall not be employed in the construction of the Plan. 
 Section 7.07 Gender
and Number. Except where otherwise clearly indicated by context, the masculine and the neuter shall include the feminine and the neuter; the singular shall include the plural, and vice-versa. 

Section 7.08 Unfunded Plan. The Plan shall not be funded. The Company may, but shall not be required to, set aside or earmark
an amount necessary to provide the Benefits specified herein (including the establishment of trusts). In any event, no Covered Executive shall have any right to, or interest in, any assets of the Company. 

Section 7.09 Payments to Incompetent Persons, Etc. Any Benefit payable to or for the Benefit of a minor, an incompetent
person or other person incapable of receipting therefor shall be deemed paid when paid to such person’s guardian or to the party providing or reasonably appearing to provide for the care of such person, and such payment shall fully discharge
the Company, the Administrator and all other parties with respect thereto. 
 Section 7.10 Lost Payees. A Benefit
shall be deemed forfeited if the Administrator is unable to locate a Covered Executive to whom a Benefit is due. Such Benefit shall be reinstated if application is made by the Covered Executive for the forfeited Benefit while the Plan is in
operation. 
 Section 7.11 Controlling Law and Nature of Plan. The Plan shall be construed and enforced according to
the laws of the Commonwealth of Pennsylvania to the extent not preempted by Federal law. The Plan is not intended to be included in the definitions of “employee pension benefit plan” and “pension plan” set forth under
Section 3(2) of the 

  
 14 

 
Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Rather, the Plan is intended to meet the descriptive requirements of a plan constituting a “severance pay
plan” within the meaning of regulations published by the Secretary of Labor at Title 29, Code of Federal Regulations, Section 2510.3-2(b). 
 Section 7.12 Section 409A. 
 (a) It is intended that
the provisions of this Plan comply with Section 409A, and all provisions of this Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A. 

(b) Neither the Covered Executive nor any of the Covered Executive’s creditors or beneficiaries shall have the right
to subject any deferred compensation (within the meaning of Section 409A) payable under this Plan or under any other plan, policy, arrangement or agreement of or with the Company or any of its affiliates (this Plan and such other plans,
policies, arrangements and agreements, the “Company Plans”) to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A, any deferred compensation
(within the meaning of Section 409A) payable to the Covered Executive or for the Covered Executive’s benefit under any Company plan may not be reduced by, or offset against, any amount owing by the Covered Executive to the Company or any
of its affiliates. 
 (c) If, at the time of the Covered Executive’s separation from service (within the
meaning of Section 409A), (i) the Covered Executive shall be a specified employee (within the meaning of Section 409A and using the indemnification methodology selected by the Company from time to time) and (ii) the Company shall
make a good faith determination that an amount payable under a Company Plan constitutes deferred compensation (within the meaning of Section 409A) the payment of which is required to be delayed pursuant to the six-month delay rule as set forth
in Section 409A in order to avoid taxes or penalties under Section 409A, then the Company shall not pay such amount on the otherwise scheduled payment date but shall instead accumulate such amount and pay it, without interest, on the first
business day after such six-month period. 
 (d) Notwithstanding any provision of this Plan or any Company Plan
to the contrary, in light of the uncertainty with respect to the proper application of Section 409A, the Company reserves the right to make amendments to this Plan and any Company plan as the Company deems necessary or desirable to avoid the
imposition of taxes or penalties under Section 409A. In any case, the Covered Executive is solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on the Covered Executive for the Covered
Executive’s account in connection with any Company Plan (including any taxes and penalties under Section 409A), and neither the Company nor any affiliate shall have any obligation to indemnify or otherwise hold the Covered Executive
harmless from any or all of such taxes or penalties. 

  
 15 

 APPENDIX A 
 GENERAL RELEASE 
 1. I,
                    (the “Executive”), for and in consideration of (a) certain severance benefits to be paid and provided to me by Air
Products and Chemicals, Inc. (the “Company”) under the Air Products and Chemicals, Inc. Corporate Executive Committee Separation Program (the “Plan”) and (b) the Company’s execution of a release in favor of the
Executive, on the date this General Release becomes irrevocable, substantially in the form attached hereto as Annex 1, and conditioned upon such payments and provisions, do hereby REMISE, RELEASE, AND FOREVER DISCHARGE Air Products and
Chemicals, Inc. (the “Company”) and each of its past or present subsidiaries and affiliates, its and their past or present officers, directors, shareholders, employees and agents, their respective successors and assigns, heirs, executors
and administrators, the pension and employee benefit plans of the Company, or of its past or present subsidiaries or affiliates, and the past or present trustees, administrators, agents, or employees of the pension and employee benefit plans
(hereinafter collectively included within the term the “Company”), acting in any capacity whatsoever, of and from any and all manner of actions and causes of actions, suits, debts, claims and demands whatsoever in law or in equity, which I
ever had, now have, or hereafter may have, or which my heirs, executors or administrators hereafter may have, by reason of any matter, cause or thing whatsoever from the beginning of my employment with the Company to the date of these presents and
particularly, but without limitation of the foregoing general terms, any claims arising from or relating in any way to my employment relationship and the termination of my employment relationship with the Company, including but not limited to, any
claims which have been asserted, could have been asserted, or could be asserted now or in the future under any federal, state or local laws, including any claims under the Pennsylvania Human Relations Act, 43 PA.
C.S.A. §§ 951 et seq., as amended, the Rehabilitation Act of 1973, 29 USC §§ 701 et seq., as amended, Title VII of the Civil Rights Act of 1964, 42 USC §§ 2000e et seq., as amended,
the Civil Rights Act of 1991, 2 USC §§ 60/ et seq., as applicable, the Age Discrimination in Employment Act of 1967, 29 USC §§ 621 et seq., as amended (“ADEA”), the Americans with Disabilities Act,
29 USC §§ 706 et seq., and the Employee Retirement Income Security Act of 1974, 29 USC §§ 301 et seq., as amended, any contracts between the Company and me and any common law claims now or hereafter recognized
and all claims for counsel fees and costs; provided, however, that this Release shall not apply to any entitlements under the terms of the Plan or under any other plans or programs of the Company in which I participated and under which I have
accrued and become entitled to a benefit other than under any Company separation or severance plan or programs. Notwithstanding the foregoing, I understand that I shall be indemnified by the Company as to any liability, cost or expense for which I
would have been indemnified during employment, in accordance with the Company’s certificate of incorporation or insurance coverages in force for employees of the Company serving in executive capacities for actions taken on behalf of the Company
within the scope of my employment by the Company. 
 2. Subject to the limitations of paragraph 1 above, I expressly waive all
rights afforded by any statute which expressly limits the effect of a release with respect to unknown claims. I understand the significance of this release of unknown claims and the waiver of statutory protection against a release of unknown claims.

  
 16 

 3. I hereby agree and recognize that my employment by the Company was/will be permanently
and irrevocably severed on             , 20     and the Company has no obligation, contractual or otherwise to me to hire, rehire or reemploy me in the future. I
acknowledge that the terms of the Plan provide me with payments and benefits which are in addition to any amounts to which I otherwise would have been entitled. 
 4. I hereby agree and acknowledge that the payments and benefits provided by the Company are to bring about an amicable resolution of my employment arrangements and are not to be construed as an admission
of any violation of any federal, state or local statute or regulation, or of any duty owed by the Company and that the Plan was, and this Release is, executed voluntarily to provide an amicable resolution of my employment relationship with the
Company. 
 5. I hereby acknowledge that nothing in this Release shall prohibit or restrict me from: (a) making any
disclosure of information required by law; (b) providing information to, or testifying or otherwise assisting in any investigation or proceeding brought by, any federal regulatory or law enforcement agency or legislative body, any
self-regulatory organization, or the Company’s designated legal, compliance or human resources officers; or (c) filing, testifying, participating in or otherwise assisting in a proceeding relating to an alleged violation of any federal,
state or municipal law relating to fraud, or any rule or regulation of the Securities and Exchange Commission or any self-regulatory organization. 
 6. I hereby certify that I have read the terms of this Release, that I have been advised by the Company to discuss it with my attorney, that I have received the advice of counsel and that I understand its
terms and effects. I acknowledge, further, that I am executing this Release of my own volition with a full understanding of its terms and effects and with the intention of releasing all claims recited herein in exchange for the consideration
described above, which I acknowledge is adequate and satisfactory to me. None of the above named persons, nor their agents, representatives or attorneys have made any representations to me concerning the terms or effects of this Release other than
those contained herein. 
 7. I hereby acknowledge that I have been informed that I have the right to consider this Release for
a period of 21 days prior to execution. I also understand that I have the right to revoke this Release for a period of seven days following execution by giving written notice to the Company at 7201 Hamilton Boulevard, Allentown
Pennsylvania 18195-1501, Attention: General Counsel. 
 8. I hereby further acknowledge that the terms of the
Noncompetition, Nonsolicitation, and Nondisparagement Agreement between the Company and me dated                     continue to apply for the
balance of the time periods provided therein and that I will abide by and fully perform my obligations thereunder. 

  
 17 

 Intending to be legally bound hereby, I execute the foregoing Release this
    day of         , 20     . 
  

					
	  
 Witness
	 		 	  

Executive

  
 18 

 ANNEX 1 
 GENERAL RELEASE 
 1. Air Products and Chemicals, Inc. (the
“Company”) on its behalf and on behalf of its subsidiaries and affiliates, their officers, directors, partners, employees and agents, their respective successors and assigns, heirs, executors and administrators (hereinafter collectively
included within the term “Company”), for and in consideration of                     (the “Executive”) executing the general
release of claims against the Company dated                     (the “Executive’s Release of the Company”), and other good and
valuable consideration, does hereby REMISE, RELEASE, AND FOREVER DISCHARGE the Executive, his assigns, heirs, executors and administrators (hereinafter collectively included within the term “Executive”), acting in any capacity whatsoever,
of and from any and all manner of actions and causes of actions, suits, debts, claims and demands whatsoever in law or in equity, which it ever had, now have, or hereafter may have, by reason of any matter, cause or thing whatsoever from the
beginning of the Executive’s employment with the Company to the date of this Release arising from or relating in any way to the Executive’s employment relationship and the termination of his employment relationship with the Company,
including but not limited to, any claims which have been asserted, could have been asserted, or could be asserted now or in the future under any federal, state or local laws, any contracts between the Company and the Executive, other than the
Executive’s Release of the Company, the Executive’s Noncompetition, Nonsolicitation, and Nondisparagement Agreement with the Company, the Employee Patent and Confidential Information Agreement entered into by the Executive on
                    , and the Executive’s outstanding incentive award agreements granted under the Company’s Long-Term Incentive Plan, and
any common law claims now or hereafter recognized and all claims for counsel fees and costs, but in no event shall this release apply to any action attributable to a criminal act or to an action outside the scope of the Executive’s employment.

 2. Subject to the limitations of paragraph 1 above, the Company expressly waives all rights afforded by any statute
which expressly limits the effect of a release with respect to unknown claims. The Company understands the significance of this release of unknown claims and the waiver of statutory protection against a release of unknown claims. 

3. The Company hereby certifies that it has been advised by counsel in the preparation and review of this Release. 

Intending to be legally bound hereby, Air Products and Chemicals, Inc. executes the foregoing Release this     day of
        , 20     . 
  

							
		 		 	By:	 	  

	  
 Witness
	 		 		 	

  
 19 

 APPENDIX B 

NONCOMPETITION, NONSOLICITATION, AND 
 NONDISPARAGEMENT AGREEMENT 
 I,
                    (the “Executive”), for and in consideration of (a) certain severance benefits to be paid and provided to me by Air
Products and Chemicals, Inc. (the “Company”) under the Air Products and Chemicals, Inc. Corporate Executive Committee Separation Program (the “Plan”), and (b) the Company’s execution of a release in favor of the
Executive, I, the Executive, hereby covenant and agree as follows: 
 1. The Executive acknowledges that the Company is
generally engaged in business throughout the world. During the Executive’s employment by the Company and for two years after the Executive’s Employment Termination Date (as defined in the Plan), the Executive agrees that he will not,
unless acting with the prior written consent of the Company, directly or indirectly, own, manage, control, or participate in the ownership, management or control of, or be employed or engaged by, or be otherwise affiliated or associated with, as an
officer, director, employee, consultant, independent contractor or otherwise: (a) any person who is engaged, in any manner anywhere, in any business which, as of the Employment Termination Date, is engaged in by the Company or has been reviewed
with the Board for development to be owned or managed by the Company (together “competitive businesses”), or (b) any person who has an ownership interest in a competitive business or an affiliate of such a person. Executive’s
passive ownership of not more than 5% of the equity of a publicly traded entity shall not be deemed to be a violation of this paragraph. 
 2. The Executive also agrees that he will not, directly or indirectly, during the period described in paragraph (1), induce any person who is an employee, officer, director, or agent of the Company,
to terminate such relationship, or employ, assist in employing or otherwise be associated in business with any present or former employee or officer of the Company, including without limitation those who commence such positions with the Company
after the Employment Termination Date. 
 3. For the purposes of this Agreement: 

(a) the term “Company” shall be deemed to include Air Products and Chemicals, Inc. and the subsidiaries and
affiliates of Air Products and Chemicals, Inc. 
 (b) the term “person” shall include an individual, a
publicly-traded or privately-held corporation or equivalent thereof under foreign law, a partnership, an association, a joint stock company, a trust, any unincorporated association, or any business organization; and may include an affiliate of the
Company. 
 (c) the term “affiliate” of a specified person shall mean any corporation, partnership,
joint venture, business organization, trust, or other non-natural person in which the specified person directly or indirectly holds an interest, which is under common control with the specified person, or of which the specified person is an
executive officer, manager, trustee, executor, or similar controlling person. 
 4. The Executive acknowledges and agrees that
the restrictions contained in this Agreement are reasonable and necessary to protect and preserve the legitimate interests, properties, goodwill and business of the Company, that the Company would not have entered into this Agreement in the absence
of such restrictions and that irreparable injury will be suffered 

  
 20 

 
by the Company should the Executive breach the provisions of this Section. The Executive represents and acknowledges that (a) the Executive has been advised by the Company to consult the
Executive’s own legal counsel in respect of this Agreement, (b) the Executive has consulted with and been advised by his own counsel in respect of this Agreement, and (c) the Executive has had full opportunity, prior to execution of
this Agreement, to review thoroughly this Agreement with the Executive’s counsel. 
 5. The Executive further acknowledges
and agrees that a breach of the restrictions in this Agreement will not be adequately compensated by monetary damages. The Executive agrees that the Company shall be entitled to (a) preliminary and permanent injunctive relief, without the
necessity of proving actual damages, or posting of a bond, (b) an equitable accounting of all earnings, profits and other benefits arising from any violation of this Agreement, and (c) enforce the terms, including requiring forfeitures,
under other plans, programs and agreements under which the Executive has been granted a benefit contingent on a covenant similar to those contained in this Agreement, which rights shall be cumulative and in addition to any other rights or remedies
to which the Company may be entitled. In the event that the provisions of this Agreement should ever be adjudicated to exceed the limitations permitted by applicable law in any jurisdiction, it is the intention of the parties that the provision
shall be amended to the extent of the maximum limitations permitted by applicable law, that such amendment shall apply only within the jurisdiction of the court that made such adjudication and that the provision otherwise shall be enforced to the
maximum extent permitted by law. 
 6. If the Executive breaches his obligations under this Agreement, he agrees that suit may
be brought, and that he consents to personal jurisdiction, in the United States District Court for the Eastern District of Pennsylvania, or in any court of general jurisdiction in Allentown, Pennsylvania; consents to the non-exclusive jurisdiction
of any such court in any such suit, action or proceeding; and waives any objection which he may have to the laying of venue of any such suit, action or proceeding in any such court. The Executive also irrevocably and unconditionally consents to the
service of any process, pleadings, notices, or other papers with respect thereto. EACH PARTY HERETO IRREVOCABLY AGREES TO WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM, OR COUNTERCLAIM BROUGHT BY OR ON BEHALF OF ANY PARTY RELATED TO OR
ARISING OUT OF THIS NONCOMPETITION AGREEMENT. 
 7. Executive further agrees, covenants, and promises that he will not in any
way communicate the terms of this Agreement to any person other than his immediate family and his attorney and financial consultant or when necessary to advise a third party of his obligations under this Agreement. Notwithstanding the foregoing, the
Company and Executive also agree that for a period of two years following the Employment Termination Date, Executive will provide and that at all times after the date hereof the Company may similarly provide, with prior written notice to Executive,
a copy of this Agreement to any business or enterprise (a) which Executive may directly or indirectly own, manage, operate, finance, join, control or of which he may participate in the ownership, management, operation, financing, or control, or
(b) with which Executive may be connected as an officer, director, employee, partner, principal, agent, representative, consultant, or otherwise, or in connection with which Executive may use or permit to be used Executive’s name.
Executive agrees not to disparage the name, business reputation, or business practices of the Company or its subsidiaries or affiliates, or its or their officers, employees, or directors, and the Company agrees not to disparage the name or business
reputation of Executive. 

  
 21 

 8. The Executive hereby expressly acknowledges and agrees that (a) the provisions of
the Employee Patent and Confidential Information Agreement entered into by him on                     , shall continue to apply in accordance with
its terms, and (b) the provisions of the Executive’s outstanding incentive award agreements granted under the Company’s Long-Term Incentive Plan, as defined in the Plan, shall continue to apply in accordance with their terms except as
otherwise provided in Section 3.04 of the Plan. 
 9. No failure or delay on the part of the Company in exercising any
power or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power preclude any further or other exercise thereof or the exercise of any other right or power hereunder. No modification or
waiver of any provision of this Agreement or consent to any departure by any party therefrom shall in any event be effective until the same shall be in writing and then such waiver or consent shall be effective only in the specific instance and for
the purpose for which given. No notice to or demand on any party in any case shall entitle such party to any other or further notice or demand in similar or other circumstances. 

10. Notices under this Agreement shall be in writing and sent via overnight mail as follows: 

 

							
	To:	    	Company’s General Counsel	    	To:	    	Executive
		    	7201 Hamilton Boulevard	    		    	
		    	Allentown, PA 18195-1501	    		    	

 11. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of
Pennsylvania without reference to its principles of conflict of law. This Agreement shall extend to and enure to the benefit of the respective successors and assigns of the Company. 

Intending to be legally bound hereby, I execute the Noncompetition, Nonsolicitation, and Nondisparagement Agreement this
    day of         , 20     . 
  

					
	  
 Witness
	 		 	  
 Executive

  
 22EX-10.1

 Exhibit 10.1 
  

 
 January 7, 2014 

Mr. Michael P. Huseby 
 122 Fifth Avenue 

New York, NY 10011 
 Dear Mr. Huseby: 

This letter agreement (the “Agreement”) is intended to amend and restate the terms of that certain letter agreement by and between you and
Barnes & Noble, Inc. (the “Company”) dated as of March 9, 2012 (the “Original Agreement”) and to set forth our mutual understanding regarding your employment as Chief Executive Officer of the Company. 

Accordingly, we are pleased to agree as follows: 

1. Duties. You agree to be Chief Executive Officer of the Company for the term of this Agreement. In this capacity, you shall perform
such duties and have such responsibilities as are typically associated with the office of Chief Executive Officer, including such duties and responsibilities as are prescribed by the Board of Directors of the Company (the “Board”)
consistent with the office of Chief Executive Officer. You shall report to the Board. While you are the Company’s employee, you agree to devote your full business time and attention to the performance of your duties and responsibilities
hereunder; provided, however, that you may continue to serve on the boards of those entities on which you serve as of the date of this Agreement and may serve on the boards of such other entities as the Board may approve following the date of this
Agreement; and provided further that, with respect to any such board service, you shall recuse yourself and not otherwise participate as to any matter that relates to the “Business Area” (as defined in Section 4.1). The Company shall
(a) nominate you for election to the Board or, if earlier, shall appoint you to fill a vacancy on the Board, and (b) re-nominate you at the expiration of each term of office as a member of the Board during the term of this Agreement.
Subject to Section 2(b), you shall serve as a member of the Board for each period for which you are so elected or appointed without any additional compensation. 

2. Term. (a) The initial term of this Agreement shall be for a period beginning on January 7, 2014 (the “Effective
Date”) and ending on the third anniversary of the Effective Date or, if earlier, the termination of your employment in accordance with the provisions set forth below (the “Initial Term”). At the expiration (but not earlier
termination) of the Initial Term, and any subsequent “Renewal Term” (as defined below), the term of this Agreement shall automatically renew for additional periods of one year (each, a “Renewal Term”), unless your employment has
earlier terminated or either party hereto has given the other party written notice of non-renewal at least 90 days prior to the expiration date of the Initial Term or the Renewal Term, as applicable. In the event that either party has given written
notice of non-renewal, and your employment with the Company continues after the expiration of the Initial Term or any Renewal Term, such post-expiration employment shall be “at-will” and either party may terminate such employment with or
without notice and for any reason or no reason. 
 (b) Your employment hereunder shall terminate upon your death and may be terminated by
the Company upon written notice to you following your Disability (as defined below). Your employment hereunder may also be terminated by the Company immediately for Cause (as defined below) or following two weeks written notice to you for any other
reason. Your employment hereunder may also be terminated by you following written notice to the Company of your intention to resign with or without Good Reason (as defined below); provided that a resignation for Good Reason shall comply with
Section 2(c)(iv). If, as of the date of termination of your employment for any reason, you are a member of the Board or the board of directors of any of the Company’s affiliates, or hold any other position with the Company or its
affiliates, you shall automatically be deemed to have resigned from all such positions as of such date. You agree to execute such documents and take such other actions as the Company may request to reflect such resignation. 

  
 1 

 (c) For purposes of this Agreement: 

(i) “Cause” means (A) your engaging in intentional misconduct or gross negligence that, in either case, is
injurious to the Company; (B) your indictment, entry of a plea of nolo contendere or conviction by a court of competent jurisdiction with respect to any crime or violation of law involving fraud or dishonesty (with the exception of misconduct
based in good faith on the advice of professional consultants, such as attorneys and accountants) or any felony (or equivalent crime in a non-U.S. jurisdiction); (C) any gross negligence, intentional acts or intentional omissions by you (as
determined by a majority vote of the Board in its reasonable discretion and judgment) that constitute fraud, dishonesty, embezzlement or misappropriation in connection with the performance of your employment duties and responsibilities;
(D) your engaging in any act of intentional misconduct or moral turpitude (as determined by a majority vote of the Board in its reasonable discretion and judgment) reasonably likely to adversely affect the Company or its business; (E) your
abuse of or dependency on alcohol or drugs (illicit or otherwise) that adversely affects your job performance; (F) your willful failure or refusal to properly perform (as determined by a majority vote of the Board in its reasonable discretion
and judgment) the duties, responsibilities or obligations of your employment for reasons other than Disability or authorized leave, or to properly perform or follow (as determined by a majority vote of the Board in its reasonable discretion and
judgment) any lawful direction by the Company (with the exception of a willful failure or refusal to properly perform based in good faith on the advice of professional consultants, such as attorneys and accountants); or (G) your material breach
of this Agreement or of any other contractual duty to, written policy of, or written agreement with the Company (with the exception of a material breach based in good faith on the advice of professional consultants, such as attorneys and
accountants). 
 (ii) “Disability” shall mean a written determination by a majority of three physicians (one of
which shall be your most recent primary care provider) mutually agreeable to the Company and you (or, in the event of your total physical or mental disability, your legal representative) that you are physically or mentally unable to perform your
duties as Chief Executive Officer under this Agreement and that such disability can reasonably be expected to continue for a period of six consecutive months or for shorter periods aggregating 180 days in any 12-month period. 

(iii) “Good Reason” shall mean the occurrence of one or more of the following events without your written consent:
(A) there shall have been a material diminution of your authority, duties or responsibilities as described in Section 1; (B) there shall have been a greater than 10% involuntary reduction in your Annual Base Salary (as defined below)
in effect pursuant to Section 3.1 or a greater than 25% involuntary reduction in your annual target bonus pursuant to Section 3.2; (C) the principal executive offices of the Company shall be relocated to a location more than 50 miles
from New York City; or (D) the Company fails to make material payments to you (or provide to you restricted stock units) as required by this Agreement. 

(iv) You shall be deemed to terminate employment for Good Reason only if (A) you provide the Company with written notice
of Good Reason within a period not to exceed 90 days after the initial existence of the condition alleged to give rise to Good Reason, (B) the Company fails to remedy the condition within 30 days of such notice and (C) your termination is
within six months following the initial existence of the condition alleged to give rise to Good Reason. 
 3. Compensation.  

3.1. Annual Base Salary. During the Initial Term and any Renewal Term, the Company shall pay you, for all services you perform
hereunder, an annual base salary of U.S. $1,200,000.00, or such higher amount as the Compensation Committee of the Board (the “Compensation Committee”) may determine, payable in accordance with the Company’s payroll schedule
applicable to executive officers of the Company (“Annual Base Salary”). 

  
 2 

 3.2. Bonus Compensation. During the Initial Term and any Renewal Term, the Company shall
pay you annual bonus compensation, as determined by the Compensation Committee, with an annual target amount of not less than 200% of your Annual Base Salary, which shall be paid in accordance with and subject to the terms and conditions of the
Company’s Executive Performance Plan (as may be amended from time to time and attached hereto as Exhibit A and incorporated herein by reference) or such other incentive or compensation plan or arrangement specified by the Compensation
Committee. 
 3.3. Employee Benefits. During the Initial Term and any Renewal Term, you shall be eligible to participate in and
receive any benefits to which you are entitled under the employee benefit plans that the Company provides for its employees generally, as well as any employee benefit plans that the Company provides for its executive officers generally. 

3.4. Expenses. During the Initial Term and any Renewal Term, the Company shall reimburse you for all expenses incurred by you in the
performance of your duties and responsibilities under this Agreement, including entertainment and travel expenses, in accordance with the policies and procedures established by the Compensation Committee. 

3.5. Equity Awards. Promptly after the date hereof, you shall be granted 450,000 shares of restricted stock units of the Company (the
“Stock Grant”), in accordance with the Company’s Amended and Restated 2009 Incentive Plan (the “Plan”). The Stock Grant shall vest in three equal installments, with one-third vesting on October 1, 2014, one-third
vesting on October 1, 2015 and one-third vesting on October 1, 2016, except that, subject to Sections 3.8(c) and 3.8(d), no installment shall vest unless you are still employed by the Company at the time of such vesting. During the Initial
Term and any Renewal Term, you shall be eligible to receive additional grants under the terms of the Plan (or any successor thereto), as determined by the Compensation Committee. Notwithstanding the foregoing, any then-unvested portion of the Stock
Grant shall vest immediately upon (i) the occurrence of a Change of Control (as defined in and pursuant and subject to the terms of Section 3.9 of this Agreement) or (ii) in the event that, during the Initial Term or any Renewal Term,
(x) your employment is terminated by the Company without Cause or (y) you voluntarily terminate your employment for Good Reason (in each case, as defined in this Agreement). Except as provided above, the Stock Grant shall be subject to the
terms and conditions set forth in the Company’s customary award agreements (including, for the avoidance of doubt, the right to receive cash dividends on the shares of common stock of the Company underlying the Stock Grant at the same time cash
dividends are paid to holders of shares of common stock). 
 3.6. Car Allowance. During the Initial Term and any Renewal Term, the
Company shall pay you in cash a monthly car allowance of U.S. $1,500.00, or such higher amount as may be determined by the Compensation Committee. 

3.7. Life and Disability Insurance. During the Initial Term and any Renewal Term, the Company shall obtain in your name (a) a life
insurance policy providing for a death benefit of U.S. $2,500,000.00 payable to any beneficiary or beneficiaries named by you and (b) a disability insurance policy providing for monthly payments to you of U.S. $12,800.00, which monthly amount
will be increased to the extent the available maximum monthly benefit under the group disability insurance policy under which such insurance is provided is increased, during the period of any disability until the earlier of your attaining age 65 or
death; provided that the term “disability” in any such disability insurance policy shall be defined in a manner consistent with the definition in Section 2(c)(ii). During the Initial Term and the Renewal Term, the Company shall pay
all premiums due on such policies. 
 3.8. Severance. (a) In the event that, during the Initial Term or any Renewal Term,
(1) your employment is terminated by the Company without Cause or (2) you voluntarily terminate your employment for Good Reason, in addition to the Accrued Obligations (as described in Section 3.8(b)), the Company shall pay you an
amount equal to two times the sum of (i) your then Annual Base Salary, (ii) the average of the annual bonuses actually paid or payable to you with respect to the three completed fiscal years (beginning May 1, 2013) preceding the date
of your termination of employment (or such lesser number of completed fiscal years beginning on May 1, 2013 and ending on the date of your termination of employment) and (iii) the aggregate annual dollar amount of the payments made or to
be made to you or on your behalf for purposes of providing you with the benefits set forth in Sections 3.3, 3.6 and 3.7 above, less all applicable withholding and other applicable taxes and deductions (“Severance Amount”); provided that
(x) you execute and deliver to the Company, and do not revoke, a release of 

  
 3 

 
all claims against the Company substantially in the form attached hereto as Exhibit B (“Release”) and (y) you have not materially breached as of the date of such termination any
provisions of this Agreement and do not materially breach such provisions at any time during the Relevant Period (as defined below). If your employment terminates on or before April 30, 2014, the amount determined under clause (ii) above
for purposes of calculating the Severance Amount shall be U.S. $2,400,000. In addition, the Stock Grant (as defined in the Original Agreement) provided for in the Original Agreement shall vest. The Company’s obligation to make such payment
shall be cancelled upon the occurrence of any such material breach and, in the event such payment has already been made, you shall repay to the Company such payment within 30 days after demand therefore; provided, however, such repayment shall not
be required if the Company shall have materially breached this Agreement prior to the time of your breach. The Severance Amount shall be paid in cash in a single lump sum on the later of (1) the first day of the month following the month in
which such termination occurs and (2) the date the Revocation Period (as defined in the Release) has expired. Notwithstanding anything in this paragraph to the contrary, if a Release is not executed and delivered to the Company within 60 days
of such termination of employment (or if such Release is revoked in accordance with its terms), the Severance Amount shall not be paid, but the Accrued Obligations nevertheless shall be paid. 

(b) Upon the termination of your employment hereunder for Cause or by your voluntary termination of your employment hereunder without Good
Reason, in each case, during the Initial Term or any Renewal Term, the Company shall have no further obligation to you other than: (1) to pay Annual Base Salary through the effective date of termination (the “Effective Termination
Date”); (2) to pay any bonus (as described in Section 3.2) for any fiscal year which has ended prior to the fiscal year in which the Effective Termination Date occurs that has been earned but not yet paid as of the Effective
Termination Date; and (3) with respect to any benefits to which you may be entitled pursuant to any insurance or other benefit plans or arrangements of the Company, such benefits shall be payable in accordance with the terms of such plans or
arrangements (the items described in clauses (1), (2) and (3) collectively, the “Accrued Obligations”). For purposes of this Section 3.8, except as may be required under Section 6.10, payment under clause (1) shall
be made in cash in a single lump sum not later than 60 days following the Effective Termination Date and payment under clause (2) shall be made in cash in a single lump sum not later than the fifteenth day of the third month following the end
of the fiscal year of the Company with respect to which the applicable bonus was earned. 
 (c) Upon the termination of your employment
hereunder by your death or Disability, in each case, during the Initial Term or any Renewal Term, you shall be entitled to receive: (1) the Accrued Obligations; (2) Annual Base Salary through the last day of the month in which such
termination occurs; (3) bonus compensation as described in Section 3.2 (at the time bonuses are paid to the executive officers of the Company generally) determined based on your target bonus, any applicable performance goals and actual
achievement of such performance goals (as certified by the Compensation Committee) for the fiscal year in which such termination occurs, but prorated according to the number of months that elapsed in such fiscal year through the last day of the
month in which such termination occurs (the “Pro-Rata Bonus”); and (4) a pro-rata portion of any then-outstanding equity compensation award made to you by the Company, determined based on a fraction, the numerator of which is the
number of months that elapsed from the grant date of such award through the last day of the month in which such termination occurs and the denominator of which is the number of total months in the period from such grant date to the final vesting
date of such equity compensation award, shall vest to the extent not already vested and any remaining portion of such award shall be forfeited (the “Pro-Rata Equity Vesting”). For purposes of this Section 3.8(c) and of
Section 3.8(d), the grant date of the award pursuant to Section 3.5 is deemed to be October 1, 2013. Payment under clause (2) shall be made in cash in a single lump sum not later than 60 days following the earlier of the
termination of your employment due to your Disability or the date of your death and, if and to the extent applicable, settlement of any equity awards under clause (4) shall occur not later than 60 days following the later of the termination of
your employment due to your Disability or death and the settlement date provided for in the applicable equity award agreement. 
 (d) Upon
the expiration of the term of this Agreement due to non-renewal by the Company, you shall be entitled to receive: (1) the Accrued Obligations (determined as though your employment terminated on the date of such expiration); (2) continued
Annual Base Salary through the last day of the month in which such expiration occurs, whether or not your employment is terminated upon or after such expiration; and (3) provided that you executed and delivered a Release to the Company, which
has become irrevocable in accordance with its terms, within 60 days of such expiration, (x) the Pro-Rata Bonus (calculated as though your employment terminated on the 

  
 4 

 
last day of the month in which such expiration occurs) and (y) the Pro-Rata Equity Vesting (calculated as though your employment terminated on the last day of the month in which such
expiration occurs). Payment under clause (2) shall be made in cash in a single lump sum not later than 60 days following the date of such expiration and, if and to the extent applicable, settlement of any equity awards under clause
(3)(y) shall occur not later than 60 days following the later of the date of such expiration and the settlement date provided for in the applicable equity award agreement. 

3.9. Change of Control Payments. (a) If at any time during the Initial Term and any Renewal Term (i) there is a Change of
Control (as defined below) and (ii) your employment is terminated by the Company without Cause or you voluntarily terminate your employment for Good Reason, in either case, within the greater of two years following the Change of Control or the
remainder of the Initial Term or any Renewal Term, as applicable, then the Company shall pay you an amount equal to three times the sum of (x) your then Annual Base Salary, (y) the average of the annual bonuses actually paid or payable to
you with respect to the three completed fiscal years (beginning May 1, 2013) preceding the date of your termination of employment (or such lesser number of completed fiscal years beginning on May 1, 2013 and ending on the date of your
termination of employment) and (z) the aggregate annual dollar amount of the payments made or to be made by the Company for purposes of providing you with the benefits set forth in Sections 3.3, 3.6 and 3.7 above, less all applicable
withholding and other applicable taxes and deductions (“Change of Control Amount”). If your employment terminates on or before April 30, 2014, the amount determined under clause (ii) above for purposes of calculating the Change
of Control Amount shall be U.S. $2,400,000. In addition, upon a Change in Control the Stock Grant (as defined in the Original Agreement) provided for in the Original Agreement shall vest. The Change of Control Amount shall be paid to you in cash in
a single lump sum within 30 days after the date your employment terminates. In the event that it is determined that the aggregate amount of the payments and benefits that could be considered “parachute payments” within the meaning of
Section 280G of the Internal Revenue Code of 1986, as amended (collectively, with the regulations and other guidance promulgated thereunder, the “Code”; and such payments and benefits, the “Parachute Payments”) that, but for
this Section 3.9 would be payable to you under this Agreement or any other plan, policy or arrangement of the Company, exceeds the greatest amount of Parachute Payments that could be paid to you without giving rise to any liability for any
excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the aggregate amount of Parachute Payments payable to you shall not exceed the amount that produces the greatest after-tax benefit to you after taking into
account any Excise Tax to be payable by you. Any reduction in Parachute Payments pursuant to the immediately preceding sentence shall be made in the following order: (1) cash payments that do not constitute deferred compensation within the
meaning of Section 409A of the Code, (2) welfare or in-kind benefits, (3) equity compensation awards and (4) cash payments that do constitute deferred compensation within the meaning of Section 409A of the Code, in each
case, such reductions shall be made in the manner that maximizes the present value to you of all such payments. Subject to the Section 280G limitation referred to above, to the extent that you are not fully vested in any retirement benefits
from any tax-qualified or non tax-qualified pension, profit-sharing or other retirement plan or program maintained by the Company and your employment terminates in the circumstances contemplated by this Section 3.9(a), the Company shall pay
directly to you within 30 days after the date on which your employment terminates the difference between the amounts that would have been paid to you had you been fully vested on the date that your employment terminates and the amounts actually paid
or payable to you pursuant to such plans or programs. The amounts payable to you under this Section 3.9(a) shall be in lieu of any amounts payable to you under Section 3.8 above. 

(b) As used herein, “Change of Control” shall mean the occurrence of one or more of the following events: 

(i) after the Effective Date hereof, any person, entity or “group” as identified in Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act of 1934 (the “1934 Act”), other than you or any of your affiliates or Leonard Riggio or any of his heirs or affiliates, becomes a beneficial owner (as such term is defined in Rule 13d-3 under the
1934 Act), directly or indirectly, of securities of the Company representing 40% or more of the total number of votes that may be cast for the election of directors of the Company; or 

(ii) within two years after a merger, consolidation, liquidation or sale of assets involving the Company, or a contested
election of a Company director, or any combination of the foregoing, the individuals who were directors of the Company immediately prior thereto shall cease to constitute a majority of the Board; or 

  
 5 

 (iii) within two years after a tender offer or exchange offer for voting
securities of the Company, the individuals who were directors of the Company immediately prior thereto shall cease to constitute a majority of the Board. 

4. Non-Competition and Confidential Information.  

4.1. Non-Competition. You agree that during the Initial Term and any Renewal Term and (x) for a period of two years after the
termination for any reason of your employment, you shall not, directly or indirectly, (a) employ or retain, or induce or cause any other person or entity to employ or retain, any person who is, or who at any time in the twelve-month period
prior to such time had been, employed or retained by the Company or any of its subsidiaries or affiliates; or (b) provide services, whether as principal or as agent, officer, director, employee, consultant, shareholder, or otherwise, alone or
in association with any other person, corporation or other entity, to any Competing Business (as defined below); provided, however, that you may provide services to a Competing Business (other than Amazon.com, Inc. and its subsidiaries and
affiliates and their respective successors (collectively, “Amazon”)) that is engaged in one or more businesses other than the Business Area (as defined below) but only to the extent that you do not provide services, directly or indirectly,
to the segment of such Competing Business that is engaged in the Business Area. For purposes of this Agreement, the term “Competing Business” shall mean (i) Amazon or (ii) any person, corporation or other entity engaged in the
Business Area. For purposes of this Agreement, the term “Business Area” shall mean the sale, distribution or attempted sale or distribution of books, textbooks, periodicals, newspapers, digital or audio versions of any of the foregoing or
e-reading devices and related software, and which, for the avoidance of doubt, does not include multi-channel distribution of video content via cable, satellite or internet. Notwithstanding the foregoing, (i) the restrictions of this
Section 4.1 shall not apply to the placement of general advertisements or the use of general search firm services with respect to a particular geographic area, but which are not targeted, directly or indirectly, towards employees of the Company
or any of its subsidiaries, and (ii) your continuing to serve as a director of those entities for which you are permitted to serve as a director pursuant to Section 1 shall not be deemed, in and of itself, a violation of this
Section 4.1 
 4.2. Ownership of Other Securities. Nothing in Section 4.1 shall be construed as denying you the right to
own securities of any corporation listed on a national securities exchange or quoted in the NASDAQ System in an amount up to 5% of the outstanding number of such securities. 

4.3. Confidential Information. (a) You shall use best efforts and diligence both during and after any employment with the Company,
regardless of how, when or why such employment ends, to protect the confidential, trade secret and/or proprietary character of all Confidential Information and Trade Secret Information (as defined below). You shall not, directly or indirectly, use
(for your benefit or for the benefit of any other person) or disclose any Confidential Information or Trade Secret Information, for so long as it shall remain proprietary or protectable, except as may be necessary for the performance of your duties
for the Company. For purposes of this Agreement, “Confidential Information” shall mean all confidential information of the Company, regardless of the form or medium in which it is or was created, stored, reflected or preserved, information
that is either developed by you (alone or with others) or to which you shall have had access during any employment with the Company. Confidential Information includes, but is not limited to, Trade Secret Information, and also includes information
that is learned or acquired by the Company from others with whom the Company has a business relationship in which, and as a result of which, such information is revealed to the Company. For purposes of this Agreement, “Trade Secret
Information” shall mean all information, regardless of the form or medium in which it is or was created, stored, reflected or preserved, that is not commonly known by or generally available to the public and that: (i) derives or creates
economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and (ii) is the subject of efforts that are
reasonable under the circumstances to maintain its secrecy. The Company’s Trade Secret Information may include, but is not limited to, all confidential information relating to or reflecting the Company’s research and development plans and
activities; compilations of data; product plans; sales, marketing and business plans and strategies; pricing, price lists, pricing methodologies and profit margins; current and planned incentive, recognition and rewards programs and services;
personnel; inventions, concepts, ideas, designs and formulae; current, past and prospective customer lists; current, past and anticipated customer needs, preferences and requirements; market studies; computer software and programs (including object
code and source code); and computer and database technologies, systems, structures and architectures. You understand that Confidential 

  
 6 

 
Information and/or Trade Secret Information may or may not be labeled as such, and you shall treat all information that appears to be Confidential Information and/or Trade Secret Information as
confidential unless otherwise informed or authorized by the Company. Nothing in this Agreement shall be construed to mean that Company owns any intellectual property or ideas that were conceived by you before you commenced employment with Company
and which you have previously disclosed to the Company. Subject to Section 4.3(b), nothing in this Section 4.3(a) shall prevent you from complying with a valid legal requirement (whether by oral questions, interrogatories, requests for
information or documents, subpoena, civil investigative demand or similar process) to disclose any Confidential Information or Trade Secret Information. 

(b) You agree that both during and after any employment with the Company, regardless of how, when or why such employment ends, if you are
legally required (whether by oral questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process) to disclose any Confidential Information or Trade Secret Information, you shall promptly
notify the Company of such request or requirement so that the Company may seek to avoid or minimize the required disclosure and/or to obtain an appropriate protective order or other appropriate relief to ensure that any information so disclosed is
maintained in confidence to the maximum extent possible by the agency or other person receiving the disclosure, or, in the discretion of the Company to waive compliance with the provisions of this Section 4.3. Thereafter, you shall use
reasonable efforts, in cooperation with the Company or otherwise, to avoid or minimize the required disclosure and/or to obtain such protective order or other relief. If, in the absence of a protective order or the receipt of a waiver hereunder, you
are compelled to disclose the Confidential Information or Trade Secret Information or else stand liable for contempt or suffer other sanction, censure or penalty, you shall disclose only so much of the Confidential Information or Trade Secret
Information to the party compelling disclosure as you believe in good faith on the basis of advice of counsel is required by law, and you shall give the Company prior notice of the Confidential Information or Trade Secret Information you believe you
are required to disclose. The Company shall reimburse any reasonable legal fees and related expenses you incur in order to comply with this Section 4.3(b). 

4.4. Inventions. You shall promptly disclose and provide to the Company, any original works of authorship, designs, formulas,
processes, improvements, compositions of matter, computer software programs, data, information or databases, methods, procedures or other inventions, developments or improvements of any kind that you conceive, originate, develop, improve, modify
and/or create, solely or jointly with others, during the period of your employment, or as a result of such employment (collectively, “Inventions”), and whether or not any such Inventions also may be included within “Confidential
Information” or “Trade Secret Information” (as defined under this Agreement), or are patentable, copyrightable or protectable as trade secrets. You acknowledge and agree that the Company is and shall be the exclusive owner of all
rights, title and interest in and to the Inventions and, specifically, that any copyrightable works prepared by you within the scope of your employment are “works for hire” under the Copyright Act, that such “works for hire” are
Inventions and that the Company shall be considered the author and owner of such copyrightable works. In the event that any Invention is deemed not to be a “work for hire”, or in the event that you should, by operation of law, be deemed to
be entitled to retain any rights, title or interest in and to any Invention, you hereby irrevocably waive all rights, title and interest and assign to the Company, without any further consideration and regardless of any use by the Company of any
such Inventions, all rights, title and interest, if any, in and to such Invention. You agree that the Company, as the owner of all Inventions, has the full and complete right to prepare and create derivative works based upon the Inventions and to
use, reproduce, publish, print, copy, market, advertise, distribute, transfer, sell, publicly perform and publicly display and otherwise exploit by all means now known or later developed, such Inventions and derivative works anywhere throughout the
world and at any time during or after your employment hereunder or otherwise. 
 4.5. Return of Information. You shall promptly
deliver to the Company, upon the termination for any reason of your employment, or at any other time at the Company’s request, without retaining any copies, all documents, information and other material in your possession or control containing,
reflecting and/or relating, directly or indirectly, to any Confidential Information and/or Trade Secret Information. 
 4.6.
Cooperation. You agree that both during and after any employment with the Company, regardless of how, when or why such employment ends, you shall provide reasonable cooperation to the Company and its affiliates in connection with any pending
or future lawsuit, arbitration, or proceeding between the Company and/or any affiliate and any third party, any pending or future regulatory or governmental inquiry or investigation concerning the Company and/or any affiliate and any other legal,
internal or business matters of or concerning the 

  
 7 

 
Company and/or any affiliate. Such cooperation shall include meeting with and providing information the Company, any affiliate and/or their respective attorneys, auditors or other representatives
as reasonably requested by the Company. The Company shall reimburse any reasonable legal fees and related expenses you incur in order to comply with this Section 4.6. 

4.7. Non-Disparagement. During and after any employment with the Company, regardless of how, when or why such employment ends,
(a) you shall not make, either directly or by or through another person, any oral or written negative, disparaging or adverse statements or representations of or concerning the Company or its subsidiaries or affiliates, any of their clients or
businesses or any of their current or former officers, directors, employees or shareholders and (b) Company Parties (as defined below) shall not make any oral or written negative, disparaging or adverse statements or representations of or
concerning you; provided, however, that nothing herein shall prohibit (i) critical communications between you and the Company or Company Parties during the Initial Term and any Renewal Term and in connection with your employment or
(ii) you or any Company Party from disclosing truthful information if legally required (whether by oral questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process). For purposes of
this Agreement, the term “Company Parties” shall mean the executive officers and designated spokespersons of the Company. 
 4.8.
Severability. If any of the restrictions in this Section 4 should for any reason whatsoever be declared invalid, the validity or enforceability of the remainder of this Agreement shall not be adversely affected thereby. 

4.9. Equitable Relief. (a) You acknowledge that your services to the Company are of a unique character that gives them a special
value to the Company. You further recognize that any violation of the restrictions in this Section 4 may give rise to losses or damages for which the Company cannot be reasonably or adequately compensated in an action at law and that such
violation may result in irreparable and continuing harm to the Company. Accordingly, you agree that, in addition to any other remedy that the Company may have at law or in equity, the Company shall be entitled to injunctive relief to restrain any
violation by you of the restrictions in this Section 4. 
 (b) In addition, the Company recognizes that any violation of the
restrictions in Section 4.7(b) may give rise to losses or damages for which you cannot be reasonably or adequately compensated in an action at law and that such violation may result in irreparable and continuing harm to you. Accordingly, the
Company agrees that, in addition to any other remedy that you may have at law or in equity, you shall be entitled to injunctive relief to restrain any violation by the Company of the restrictions in Section 4.7(b). 

4.10. Reasonableness. You acknowledge that the limitations and obligations contained in this Section 4 are, individually and in
the aggregate, reasonable and properly required by the Company and that in the event that any such limitations are found to be unreasonable and unenforceable, you shall submit to such limitations and/or obligations in such form as the arbitrator
shall determine. You agree that you shall not challenge or contest the reasonableness, validity or enforceability of any such limitations and obligations. 

5. Indemnification. You shall be indemnified by the Company, as an officer of the Company and its affiliates, against all actions,
suits, claims, legal proceedings and the like to the fullest extent permitted by law, including advancement of expenses, partial indemnification, indemnification following the termination of this Agreement, indemnification of your estate and similar
matters. For purposes of this Agreement, such indemnification shall extend to, to the fullest extent permitted by law, legal fees, costs, expenses, judgments, settlements, claim resolution payments, arbitration fees, arbitrator fees, mediation fees,
negotiation fees and hold harmless obligations. 
 6. Miscellaneous.  

6.1. Entire Agreement. This Agreement constitutes the entire agreement between you and the Company with respect to the terms and
conditions of your employment by the Company and supersedes all prior agreements, understandings and arrangements, oral or written, between you and the Company with respect to the subject matter hereof (including the Original Agreement); provided
that Section 3.5 of the Original Agreement shall continue to apply with respect to the Stock Grant (as defined in the Original Agreement) pursuant to the Original Agreement except to the extent provided for herein. 

  
 8 

 6.2. Binding Effect; Benefits. This Agreement shall inure to the benefit of and shall be
binding upon you and the Company and our respective heirs, legal representatives, successors and assigns. 
 6.3. Amendments and
Waivers. This Agreement may not be amended or modified except by an instrument or instruments in writing signed by both parties to this Agreement. Electronic communications, even if receipt is acknowledged, shall not constitute an amendment or
modification of this Agreement. 
 6.4. Assignment. Neither this Agreement nor any rights or obligations that either party may have
by reason of this Agreement shall be assignable by either party without the prior written consent of the other party. 
 6.5.
Notices. Any notice that may or must be given under this Agreement shall be in writing and shall be personally delivered or sent by certified or registered mail, postage prepaid, or reputable overnight courier, addressed to you c/o Seyfarth
Shaw, Attn: of Howard Pianko, 620 Eighth Avenue, New York, NY 10018-1405), or to the Company at 122 Fifth Avenue, New York, NY 10011 to the attention of the Vice President for Human Resources for the Company (with a copy to the General Counsel for
the Company), or to such other address as you or the Company, as the case may be, may designate in writing in accordance with the provisions of this section. 

6.6. Section and Other Headings; Other. The section and other headings contained in this Agreement are for reference purposes only and
are not deemed to be a part of this Agreement or to affect the meaning and interpretation of this Agreement. For purposes of this Agreement, the term “including” shall mean “including, without limitation.” 

6.7. Governing Law. This Agreement shall be construed (both as to validity and performance) and enforced in accordance with and
governed by the laws of the State of New York applicable to agreements made and to be performed wholly within the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or
any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. Except as provided in Section 6.9, exclusive jurisdiction for all disputes or claims arising under or in connection with
this Agreement, and any and all claims by or against you relating to your employment with the Company, shall lie in any Federal or state court located within the County of New York. 

6.8. Survival of Rights and Obligations. All rights and obligations arising hereunder shall continue to have full force and effect
after the termination of this Agreement unless otherwise provided herein to the extent necessary to preserve the intended benefits of such provisions. If any section of this Agreement is determined to be void, voidable or unenforceable, it shall
have no effect on the remainder of this Agreement, which shall remain in full force and effect, and the provisions so held invalid or unenforceable shall be deemed modified as to give such provisions the maximum effect permitted by applicable law.

 6.9. Arbitration. The parties agree that all disputes arising under or in connection with this Agreement, and any and all claims
by you relating to your employment with the Company, including any claims of discrimination or other employment-related claims arising under Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act, the
Americans with Disabilities Act or any other employment-related Federal, state or local law, shall be submitted to arbitration before the American Arbitration Association (“AAA”) under its rules then prevailing for the type of claim in
issue before one arbitrator and to be held at the AAA’s office located in the County of New York. In any arbitration hereunder, the arbitrator shall have the power to issue appropriate injunctive or other non-monetary relief, and award
appropriate compensatory damages. The parties agree that no damages other than compensatory damages shall be sought or claimed by either party and each party waives any claim, right or entitlement to punitive, exemplary or consequential damages, or
any other damages, and each relevant arbitrator is specifically divested of any power to award any damages in the nature of punitive, exemplary or consequential damages, or any other damages of any kind or nature in excess of compensatory damages.
Nothing in this arbitration provision shall preclude, and the parties expressly acknowledge that either party may seek, temporary injunctive relief from any Federal or state court located within the County of New York in connection with or as
supplement to arbitration hereunder, including regarding any claim under 

  
 9 

 
Section 4 of this Agreement. For purposes of any such action or proceeding, the parties each hereby specifically submit to the personal jurisdiction of any Federal or state court located
within the County of New York and further agree that service of process may be made within or without the State of New York by giving notice in the manner provided in Section 6.5 of this Agreement. 

6.10. Section 409A of the Code. It is intended that the provisions of this Agreement comply with Section 409A of the Code,
and all provisions of this Agreement shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. If, at the time of your separation from service (within the
meaning of Section 409A of the Code), (a) you shall be a specified employee (within the meaning of Section 409A of the Code and using the identification methodology selected by the Company from time to time) and (b) the Company
shall make a good faith determination that an amount payable under this Agreement or any other plan, policy, arrangement or agreement of or with the Company (this Agreement and such other plans, policies, arrangements and agreements, the
“Company Plans”) constitutes deferred compensation (within the meaning of Section 409A of the Code) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in Section 409A of the Code in
order to avoid taxes or penalties under Section 409A of the Code, then the Company shall not pay any such amount on the otherwise scheduled payment date but shall instead accumulate such amount and pay it, without interest, on the earlier of
the first day of the seventh month following such separation from service or your death. Except as permitted under Section 409A of the Code, any deferred compensation (within the meaning of Section 409A of the Code) payable to or for your
benefit under any Company Plan may not be reduced by, or offset against, any amount owing by you to the Company. Except as specifically permitted by Section 409A of the Code, the benefits and reimbursements provided to you under this Agreement
and any Company Plan during any calendar year shall not affect the benefits and reimbursements to be provided to you under the relevant section of this Agreement or Company Plan in any other calendar year, and the right to such benefits and
reimbursements cannot be liquidated or exchanged for any other benefit and shall be provided in accordance with Treas. Reg. Section 1.409A-3(i)(1)(iv) or any successor thereto. Further, in the case of reimbursement payments, such payments shall
be made to you on or before the last day of the calendar year following the calendar year in which the underlying fee, cost or expense is incurred. Notwithstanding the preceding, the Company makes no representations concerning the tax consequences
of your participation in this Agreement under Section 409A of the Code or any other Federal, state or local tax law. Your tax consequences shall depend, in part, upon the application of relevant tax law, including Section 409A of the Code,
to the relevant facts and circumstances. You should consult a competent and independent tax advisor regarding the tax consequences of this Agreement. 

6.11. Representations and Warranties. You hereby represent and warrant to the Company that (a) your execution, delivery and
performance of this Agreement do not and shall not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which you are a party or by which you are bound; (b) you are not a
party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity that has not been disclosed to the Company prior to the execution of this Agreement; (c) in the performance of any
duties and responsibilities on behalf of the Company, you shall not divulge or use in any way any trade secrets or confidential or proprietary information that are within your possession or knowledge (if any), are owned by any other person or entity
and regardless of whether or not such trade secrets or confidential or proprietary information are subject to any written agreement; and (d) upon the execution and delivery of this Agreement, it shall be a valid and binding obligation,
enforceable in accordance with its terms. You hereby acknowledge and represent that you fully understand the terms and conditions contained herein. 

6.12. Counterparts. This Agreement may be executed in one or more identical counterparts, each of which shall be deemed an original but
all of which together shall constitute one and the same instrument. 

  
 10 

 If the foregoing accurately reflects our agreement, kindly sign and return to us the enclosed
duplicate copy of this letter. 
 Very truly yours, 

 

			
	BARNES & NOBLE, INC.
		
	By:	 	/s/ Bradley A. Feuer
		 	  

		 	Name: Bradley A. Feuer
		 	Title: Vice President, General Counsel and Corporate Secretary

 Accepted and Agreed to: 
  

			
	MICHAEL P. HUSEBY
		
	By:	 	/s/ Michael P. Huseby
		 	  

		 	Name: Michael P. Huseby
		
	Date:	 	1/7/2014
		 	  

 [Signature Page to Employment Agreement] 

  
 11 

 EXHIBIT A 
  

BARNES & NOBLE, INC. 

2009 EXECUTIVE PERFORMANCE PLAN 

BARNES & NOBLE, INC., a corporation existing under the laws of the State of Delaware (the “Company”), hereby establishes and adopts
the following 2009 Executive Performance Plan (the “Plan”). Certain capitalized terms used in the Plan are defined in Article 2. 

RECITALS 
 WHEREAS, the Company
desires to encourage high levels of performance by those individuals who are key to the success of the Company, to attract new individuals who are highly motivated and who are expected to contribute to the success of the Company and to stimulate the
efforts of such individuals to contribute to the continued success and growth of the Company’s business; and 
 WHEREAS, to attain these
ends, the Company has formulated the Plan embodied herein to authorize the awarding of bonuses that are intended to qualify as “performance based compensation” within the meaning of Section 162(m) of the Code. 

NOW, THEREFORE, the Company hereby constitutes, establishes and adopts the following Plan and agrees to the following provisions: 

ARTICLE 1 
 PURPOSE OF THE PLAN

 1.1. Purposes. The purposes of the Plan are to provide personal incentive and financial rewards to senior management who, because of
the extent of their responsibilities, can and do make significant contributions to the success of the Company by their ability, industry, loyalty and exceptional services. Making such senior management participants in that success will advance the
interests of the Company and its stockholders and will assist the Company in attracting and retaining such senior management. 

ARTICLE 2 
 DEFINITIONS 

2.1. “Award” shall mean the amount of the Incentive Award paid to a Participant pursuant to the Plan. 

2.2. “Board” shall mean the board of directors of the Company. 

2.3. “Certification” shall have the meaning set forth in Section 4.2. 

 EXHIBIT A 
  

2.4. “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto. 

2.5. “Committee” shall mean the Compensation Committee of the Board (or such other committee designated by the Compensation
Committee of the Board), consisting of no fewer than two directors, each of whom is (i) a “Non-Employee Director” within the meaning of Rule 16b-3 (or any successor rule) of the Exchange Act, (ii) an “outside
director” within the meaning of Section 162(m)(4)(C)(i) of the Code, and (iii) an “independent director” for purpose of the rules and regulations of the New York Stock Exchange. 

2.6. “Company” has the meaning set forth in the introductory paragraph of the Plan. 

2.7. “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

2.8. “Incentive Award” shall mean an amount equal to 1.5% of the Company’s Operating Income for the Performance Period for
each Participant. 
 2.9. “Operating Income” shall mean the gross profit minus operating expenses of the Company and its
Subsidiaries on a consolidated basis, before deduction of interest payments and income taxes and accrual of any amounts for payment under this Plan for the Performance Period, as reported in the Company’s income statement for the applicable
Performance Period, without regard to items relating to (a) restructurings, discontinued operations, extraordinary items, and other unusual or non-recurring charges, (b) an event either not directly related to the operations of the Company
or not within the reasonable control of the Company’s management, or (c) changes in accounting standards required by generally accepted accounting principles, in each case as determined in accordance with generally accepted accounting
principles and as reported in (x) the Company’s consolidated statement of operations, (y) notes to the Company’s consolidated financial statements or (z) management’s discussion and analysis with respect to the
Company’s consolidated financial statements as filed with the U.S. Securities and Exchange Commission, in each case for the applicable Performance Period. 

2.10. “Participant” shall mean the Company’s Chief Executive Officer and each other executive officer of the Company
selected by the Committee pursuant to Section 4.1 to participate in this Plan with respect to any given Performance Period. 

2.11. “Performance Period” shall mean the Company’s fiscal year or any other period during a fiscal year that the Committee,
in its sole discretion, may determine. 
 2.12. “Shares” shall mean the shares of common stock of the Company, par value
$0.001 per share. 
 2.13. “Subsidiary” shall mean any corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company if, at the time of the granting of the Award, each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes
of stock in one of the other corporations in the chain, excluding any such Subsidiary whose securities are publicly traded. 

 EXHIBIT A 
  

ARTICLE 3 
 ELIGIBILITY AND
ADMINISTRATION 
 3.1. Eligibility. The individuals eligible to participate in the Plan shall be the Company’s Chief Executive
Officer and any other executive officer of the Company or any Subsidiary selected by the Committee to participate in the Plan. 

3.2. Administration. (a) The Plan shall be administered by the Committee. The Committee shall have full power and authority, subject to the
provisions of the Plan and subject to such orders or resolutions not inconsistent with the provisions of the Plan as may from time to time be adopted by the Board, to: (i) select the Participants to whom Incentive Awards may from time to time
be granted hereunder; (ii) determine the terms and conditions of Incentive Awards, not inconsistent with the provisions of the Plan, and whether an Award shall be paid in cash or Shares; (iii) determine the time when Incentive Awards will
be made and the Performance Period to which they relate; (iv) certify the calculation of Operating Income and the amount of the Incentive Award payable to each Participant in respect of Performance Periods; (v) in connection with the
determination of the amount of each Award, determine whether and to what extent the Incentive Award shall be reduced based on such factors as the Committee deems appropriate in its discretion; (vi) interpret and administer the Plan;
(vii) correct any defect, supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent that the Committee shall deem desirable to carry it into effect; (viii) establish such rules and regulations and
appoint such agents as it shall deem appropriate for the proper administration of the Plan; and (ix) make any other determination and take any other action that the Committee deems necessary or desirable for administration of the Plan. 

(b) Decisions of the Committee shall be final, conclusive and binding on all persons or entities, including the Company, any Participant and any person
claiming any benefit or right under an Incentive Award or under the Plan. A majority of the members of the Committee may determine its actions and fix the time and place of its meetings. 

(c) To the extent not inconsistent with the applicable provisions of Section 162(m) of the Code, applicable law or the rules and regulations of the
New York Stock Exchange, the Committee may delegate to one or more officers of the Company or any of its Subsidiaries the authority to take actions on its behalf pursuant to the Plan. 

ARTICLE 4 
 AWARDS 

4.1. Performance Period. Not later than 90 days after the commencement of each fiscal year of the Company, the Committee shall, in
writing, (i) designate one or more Performance Periods for such fiscal year, provided that any Performance Period of less than one year shall be designated no later than the date on which 25% of such Performance Period has lapsed,
(ii) determine the Participants for such Performance Period(s), and (iii) specify any adjustments to Operating 

 EXHIBIT A 
  

Income for the Performance Period. If a person becomes eligible to participate in the Plan after the Committee has made its initial written determination of the Participants for a Performance
Period, such individual may become a Participant for the Performance Period if so designated by the Committee in writing. 

4.2. Certification. As soon as reasonably practicable following the conclusion of each Performance Period, the Committee shall certify, in
writing, the amount of Operating Income and the Incentive Award for each Participant (the “Certification”). 
 4.3. Payment of
Incentive Awards. Following each Certification, the Committee shall determine the amount of the Incentive Award actually payable to each Participant in its sole discretion based on such factors as it deems appropriate, provided that the actual
Award shall not exceed the Incentive Award with respect to such Participant. The Award amount determined by the Committee for a Performance Period shall, subject to Section 4.4, be paid to each Participant no later than the fifteenth day of the
third month following the end of the fiscal year of the Company in which the applicable Performance Period ends. Awards shall be paid in cash or, in the Committee’s sole discretion, in shares under a shareholder approved stock plan of the
Company or any combination thereof. 
 4.4. Deferral. A Participant shall be entitled to elect to defer the payment of any Award payable
to such Participant under the Plan pursuant to a plan or arrangement satisfying the requirements of Section 409A of the Code. 

4.5. Changes in Employment. If a person becomes a Participant during a Performance Period (pursuant to the last sentence of
Section 4.1 herein) or if a Participant dies or retires or if a Participant’s employment otherwise ceases during a Performance Period (except for termination by the Company for cause, as determined by the Committee in its sole discretion),
the Incentive Award payable to such a Participant may be proportionately reduced based on the period of actual employment during the applicable Performance Period), as determined by the Committee in its sole discretion. 

ARTICLE 5 
 GENERALLY
APPLICABLE PROVISIONS 
 5.1. Amendment and Termination of the Plan. The Board may, from time to time, alter, amend, suspend or terminate
the Plan as it shall deem advisable, subject to any requirement for stockholder approval imposed by applicable law, including Section 162(m) of the Code or by the rules and regulations of the New York Stock Exchange. 

5.2. Section 162(m) of the Code. Unless otherwise determined by the Committee, the provisions of this Plan shall be administered and
interpreted in accordance with Section 162(m) of the Code to ensure the deductibility by the Company or its Subsidiaries of the payment of Awards. 

5.3. Tax Withholding. The Company or any Subsidiary shall have the right to make all payments or distributions pursuant to the Plan to a
Participant, net of any applicable Federal, State and 

 EXHIBIT A 
  

local taxes required to be paid or withheld. The Company or any Subsidiary shall have the right to withhold from wages, Awards or other amounts otherwise payable to such Participant such
withholding taxes as may be required by law, or to otherwise require the Participant to pay such withholding taxes. If the Participant shall fail to make such tax payments as are required, the Company or any Subsidiary shall, to the extent permitted
by law, have the right to deduct any such taxes from any payment of any kind otherwise due to such Participant or to take such other action as may be necessary to satisfy such withholding obligations. 

5.4. Right of Discharge Reserved; Claims to Awards. Nothing in the Plan nor the grant of an Award hereunder shall confer upon any
Participant the right to continue in the employment of the Company or any Subsidiary or affect any right that the Company or any Subsidiary may have to terminate the employment of (or to demote or to exclude from future Awards under the Plan) any
such Participant at any time for any reason. No Participant shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity of treatment of Participants under the Plan. 

5.5. Other Plans. Nothing contained in the Plan shall prevent the Board from adopting other or additional compensation arrangements,
subject to stockholder approval if such approval is required; and such arrangements may be either generally applicable or applicable only in specific cases. 

5.6. Severability. If any provision of the Plan shall be held unlawful or otherwise invalid or unenforceable in whole or in part by a court
of competent jurisdiction, such provision shall (a) be deemed limited to the extent that such court of competent jurisdiction deems it lawful, valid and/or enforceable and as so limited shall remain in full force and effect, and (b) not
affect any other provision of the Plan or part thereof, each of which shall remain in full force and effect. If the making of any payment or the provision of any other benefit required under the Plan shall be held unlawful or otherwise invalid or
unenforceable by a court of competent jurisdiction, such unlawfulness, invalidity or unenforceability shall not prevent any other payment or benefit from being made or provided under the Plan, and if the making of any payment in full or the
provision of any other benefit required under the Plan in full would be unlawful or otherwise invalid or unenforceable, then such unlawfulness, invalidity or unenforceability shall not prevent such payment or benefit from being made or provided in
part, to the extent that it would not be unlawful, invalid or unenforceable, and the maximum payment or benefit that would not be unlawful, invalid or unenforceable shall be made or provided under the Plan. 

5.7. Construction. All references in the Plan to “Section,” or “Article” are intended to refer to
the Section, Sections or Article, as the case may be, of the Plan. As used in the Plan, the word “including,” and variations thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the
words “without limitation.” 
 5.8. Unfunded Status of the Plan. The Plan is intended to constitute an
“unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant by the Company, nothing contained herein shall give any such Participant any rights that are greater than those of a general creditor of
the Company or any Subsidiary. 

 EXHIBIT A 
  

5.9. Governing Law. The Plan and all determinations made and actions taken thereunder, to the extent not otherwise governed by the Code or
the laws of the United States, shall be governed by the laws of the State of Delaware, without reference to principles of conflict of laws that might result in the application of the laws of another jurisdiction, and construed accordingly. 

5.10. Effective Date of Plan. The Plan shall be effective on the date of the approval of the Plan by the holders of a majority of the
shares entitled to vote at a duly constituted meeting of the stockholders of the Company. The Plan shall be null and void and of no effect if the foregoing condition is not fulfilled. 

5.11. Captions. The captions in the Plan are for convenience of reference only, and are not intended to narrow, limit or affect the
substance or interpretation of the provisions contained herein. 

 GENERAL RELEASE AND WAIVER 

1. [Name] (“Employee”) hereby acknowledges and agrees that Employee’s employment with Barnes & Noble, Inc. (the
“Company”) terminated on                     , 20         (the “Termination
Date”). 
 2. Employee acknowledges and agrees that Employee’s executing this General Release and Waiver (“Release”) is
a condition precedent to the Company’s obligation to pay (and the Employee’s right to retain) the payments and benefits set forth in Section 3.8 of the employment letter agreement, dated as of [•], 2013, between Employee and the
Company (such agreement referred to herein as the “Employment Agreement” and such payments and benefits collectively referred to herein as the “Separation Benefit”), that the Separation Benefit is adequate consideration for this
Release, and that any monetary or other benefits that, prior to the execution of this Release, Employee may have earned or accrued, or to which Employee may have been entitled, have been paid or such payments or benefits have been released, waived
or settled by Releasor (as defined below) except as expressly provided in this Release. 
 3.    (a) THIS SECTION
PROVIDES A COMPLETE RELEASE AND WAIVER OF ALL EXISTING AND POTENTIAL CLAIMS EMPLOYEE MAY HAVE AGAINST EVERY PERSON AND ENTITY INCLUDED WITHIN THE DESCRIPTION BELOW OF “RELEASEE.” BEFORE EMPLOYEE SIGNS THIS RELEASE, EMPLOYEE MUST READ THIS
SECTION CAREFULLY, AND MAKE SURE THAT EMPLOYEE UNDERSTANDS IT FULLY. 
 (b) In consideration of Employee’s receipt and acceptance of
the Separation Benefit from the Company, and on behalf of the Company and each Releasee (as defined below), Employee, on Employee’s behalf and on behalf of Employee’s heirs, executors, administrators, successors and assigns (collectively,
“Releasor”), hereby irrevocably, unconditionally and generally releases the Company, its current and former officers, directors, shareholders, trustees, parents, members, managers, affiliates, subsidiaries, branches, divisions, benefit
plans, agents, attorneys, advisors, counselors and employees, and the current and former officers, directors, shareholders, agents, attorneys, advisors, counselors and employees of any such parent, affiliate, subsidiary, branch or division of the
Company and the heirs, executors, administrators, receivers, successors and assigns of all of the foregoing (each, a “Releasee”), from or in connection with, and hereby waives and/or settles, except as provided in Section 3(c), any
and all actions, causes of action, suits, debts, dues, sums of money, accounts, controversies, agreements, promises, damages, judgments, executions, or any liability, claims or demands, known or unknown and of any nature whatsoever, whether or not
related to employment, and which Releasor ever had, now has or hereafter can, shall or may have as of the date of this Release, including, without limitation, (i) any rights and/or claims arising under any contract, express or implied, written
or oral, including, without limitation, the Employment Agreement; (ii) any rights and/or claims arising under any applicable foreign, Federal, state, local or other statutes, orders, laws, ordinances, regulations or the like, or case law, that
relate to employment or employment practices, including, without limitation, family and medical, and/or, specifically, that prohibit discrimination based upon age, race, religion, sex, color, creed, national origin, sexual orientation, marital
status, disability, medical condition, pregnancy, veteran status or any other unlawful bases, including, without limitation, the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1991, as amended, the Civil Rights Acts of 1866 and 1871,
as amended, the Age Discrimination in Employment Act of 1967, as amended, the Americans with Disabilities Act of 1990, as amended, the Family Medical Leave Act of 1993, as amended, the Employee Retirement Income Security Act of 1974, as amended, the
Vietnam Era Veterans’ Readjustment Assistance Act of 1974, as amended, the Worker Adjustment and Retraining Notification Act of 1988, as amended, and any similar applicable statutes, orders, laws, ordinances, regulations or the like, or case
law, of the State of New York and any State in which any Releasee is subject to jurisdiction, or any political subdivision thereof, including, without limitation, the New York State Human Rights Law, the New York State Labor Law and the New York
City Human Rights Law, and all applicable rules and regulations promulgated pursuant to or concerning any of the foregoing statutes, orders, laws, ordinances, regulations or the like; (iii) any waivable rights and/or claims relating to wages
and hours, including under state or local labor or wage payment laws; (iv) any rights and/or claims to benefits that Employee may have or become entitled to receive under any severance, termination, change of control, bonus or similar policy,
plan, program, agreement or similar or related arrangements, including, without limitation, any offer letter, letter agreement or employment agreement 

 
between Employee and the Company; (v) any rights and/or claims that Employee may have to receive any equity in the Company (whether restricted or unrestricted) in the future; and
(vi) and any rights and/or claims for attorneys’ fees. Employee agrees not to challenge or contest the reasonableness, validity or enforceability of this Release. 

(c) Notwithstanding the foregoing, Employee does not release any Releasee from any of the following rights and/or claims: (i) any rights
and/or claims Employee may have that arise after the date Employee signs this Release; (ii) any rights and/or claims that by law cannot be waived by private agreement; (iii) Employee’s right to file a charge with or participate in any
investigation or proceeding conducted by the U.S. Equal Employment Opportunity Commission (“EEOC”) or similar government agency; provided that even though Employee can file a charge or participate in an investigation or proceeding
conducted by the EEOC or similar government agency, by executing this Release, Employee is waiving his ability to obtain relief of any kind from any Releasee to the extent permitted by law; (iv) Employee’s non-forfeitable rights to accrued
benefits (within the meaning of Sections 203 and 204 of ERISA); (v) any rights and/or claims to insurance coverage under any directors’ and officers’ personal liability insurance or fiduciary insurance policy; and (vi) any rights
and/or claims to enforce the Employment Agreement in accordance with its terms. 
 4. Employee represents and warrants that Employee has not
filed or commenced any complaints, claims, actions or proceedings of any kind against any Releasee with any Federal, state or local court or any administrative, regulatory or arbitration agency or body. Employee hereby waives any right to, and
agrees not to, seek reinstatement or employment of any kind with any Releasee and, without waiver by any Releasee of the foregoing, the existence of this Release shall be a valid, nondiscriminatory basis for rejecting any such application or, in the
event Employee obtains such employment, for terminating such employment. This Release and the Separation Benefit are not intended to be, shall not be construed as and are not, an admission or concession by any Releasee of any wrongdoing or illegal
or actionable acts or omissions. 
 5.    (a) Employee hereby represents and agrees that Employee shall keep
confidential and not disclose orally or in writing, to any person, except as may be required by law, any and all information concerning the existence or terms of this Release and the amount of any payments made hereunder. Employee further agrees
that, except as shall be required by law, Employee shall keep confidential and not disclose orally or in writing, directly or indirectly, to any person (except Employee’s immediate family, attorneys and accountant), any and all information
concerning any facts, claims or assertions relating or referring to any experiences of Employee or treatment Employee received by or on behalf of any Releasee through the date of this Release. 

(b) If Employee is requested or required (by oral questions, interrogatories, requests for information or documents, subpoena, civil
investigative demand or similar process) to disclose any information covered by Section 5(a), Employee shall promptly notify the Company of such request or requirement so that the Company may seek to avoid or minimize the required disclosure
and/or to obtain an appropriate protective order or other appropriate relief to ensure that any information so disclosed is maintained in confidence to the maximum extent possible by the agency or other person receiving the disclosure, or, in the
discretion of the Company, to waive compliance with the provisions of this Release. Employee shall use reasonable efforts, in cooperation with the Company or otherwise, to avoid or minimize the required disclosure and/or to obtain such protective
order or other relief. If, in the absence of a protective order or the receipt of a waiver hereunder, Employee is compelled to disclose such information or else stand liable for contempt or suffer other sanction, censure or penalty, Employee shall
disclose only so much of such information to the party compelling disclosure as he believes in good faith on the basis of advice of counsel is required by law, and Employee shall give the Company prior notice of such information he believes he is
required to disclose. 
 6.    (a) Employee shall not make, either directly or by or through another person, any
oral or written negative, disparaging or adverse statements or representations of or concerning any Releasee. 

 (b) Without limitation to the survival of any other terms of the Employment Agreement subsequent
to the end of Employee’s employment, the expiration or termination of the Employment Agreement, and/or the execution and effectiveness of this Release, Employee and the Company expressly acknowledge that the terms of Sections 4 and 5 of the
Employment Agreement survive and shall be in full force and effect as provided in the Employment Agreement. 
 7. The covenants,
representations and acknowledgments made by Employee in this Release shall continue to have full force and effect after the execution and effectiveness of this Release and the delivery of the Separation Benefit, and this Release shall inure to the
benefit of each Releasee, and the successors and assigns of each of them, to the extent necessary to preserve the intended benefits of such provisions. If any section of this Release is determined to be void, voidable or unenforceable, it shall have
no effect on the remainder of this Release, which shall remain in full force and effect, and the provisions so held invalid or unenforceable shall be deemed modified as to give such provisions the maximum effect permitted by applicable law. Without
limitation to Section 3.8 of the Employment Agreement, the Company shall be excused and released from any obligation to make payment of the Separation Benefit, and Employee shall be obligated to return to the Company the Separation Benefit, in
the event that Employee is found to have (a) made a material misstatement in any term, condition, covenant, representation or acknowledgment in this Release or (b) committed or commits a material breach of any term, condition or covenant
in this Release. 
 8. This Release and the Employment Agreement constitute the sole and complete agreement between the parties with respect
to the matters set forth therein and supersedes all prior agreements, understandings and arrangements, oral or written, between Employee and the Company with respect to the subject matter thereof. This Release may not be amended or modified except
by an instrument or instruments in writing signed by the party against whom enforcement of any such modification or amendment is sought. Either party may, by an instrument in writing, waive compliance by the other party with any term or provision of
this Release to be performed or complied with by such other party. 
 9. With respect to any claims or disputes under or in connection with
this Release or any claims released under Section 3 of this Release, Employee and the Company hereby acknowledge and agree that Sections 6.7 and 6.9 of the Employment Agreement shall govern. Employee acknowledges that a breach or threatened
breach of the provisions of this Release may give rise to losses or damages for which the Company cannot be reasonably or adequately compensated in an action at law, and that such violation may result in irreparable and continuing harm to the
Company. Accordingly, Employee agrees that, in addition to any other remedy that the Company may have at law or in equity, the Company shall be entitled to seek equitable relief, including, without limitation, injunction and specific performance and
Employee hereby waives any requirements for security or posting of any bond in connection with such relief. No specification in this Release of any particular remedy shall be construed as a waiver or prohibition of any other remedies (including
claims for damages) in the event of a breach or threatened breach of this Release. 
 10. Employee agrees and acknowledges that
(a) Employee has had an adequate opportunity to review this Release and all of its terms, (b) Employee understands all of the terms of this Release, which are fair, reasonable and are not the result of any fraud, duress, coercion, pressure
or undue influence exercised by or on behalf of any Releasee and (c) Employee has agreed to and/or entered into this Release and all of the terms hereof, knowingly, freely and voluntarily. 

11. By executing this Release, Releasor acknowledges that (a) Employee has been advised by the Company to consult with an
attorney before executing this Release; (b) Employee was provided adequate time (i.e., at least 21 days) to review this Release and to consider whether to sign this Release and (c) Employee has been advised that Employee has 7 days
following execution to revoke this Release (“Revocation Period”). Notwithstanding anything to the contrary contained herein or in the Employment Agreement, this Release shall not be effective or enforceable, and the Separation Benefit is
not payable and shall not be delivered or paid by the Company, until the Revocation Period has expired and provided that Employee has not revoked this Release. Employee agrees that any revocation shall be made in writing and delivered to
                        , Vice President, Human Resources, Barnes & Noble, Inc., 122 Fifth Avenue, NY, NY 10011.
Employee acknowledges that revocation of this Release shall result in the Company’s not having an obligation to pay the Separation Benefit. 
  

									
	Signature:	 	 	 		 	Date:	 	 
		 	 [Name]

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