Document:

Exhibit 10.7

 Exhibit 10.7 
  
 THE NASDAQ OMX GROUP, INC. 
  
 SUPPLEMENTAL EMPLOYER RETIREMENT 
  
 CONTRIBUTION PLAN 
  
 Amended and Restated as of December 17, 2008 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page
	 1.
	  	DEFINITIONS	  	1
				
		  	1.1.	  	“Account”	  	1
		  	1.2.	  	“Beneficiary”	  	1
		  	1.3.	  	“Effective Date”	  	1
		  	1.4.	  	“Employee”	  	1
		  	1.5.	  	“Employer Retirement Contribution Shortfall”	  	1
		  	1.6.	  	“Participant”	  	2
		  	1.7.	  	“Plan”	  	2
		  	1.8.	  	“Plan Administrator”	  	2
		  	1.9.	  	“Separation from Service”	  	2
			
	 2.
	  	PLAN PARTICIPATION; CREDITS TO PARTICIPANT ACCOUNTS; NATURE OF ACCOUNTS	  	2
				
		  	2.1.	  	Establishment of Accounts; Credits to Accounts.	  	2
		  	2.2.	  	Nature of Accounts; Claim to Assets.	  	3
			
	 3.
	  	ADJUSTMENT TO ACCOUNTS	  	3
				
		  	3.1.	  	Earnings Adjustments.	  	3
		  	3.2.	  	Account Statements.	  	3
			
	 4.
	  	VESTING	  	3
				
		  	4.1.	  	Full Vesting.	  	3
			
	 5.
	  	IN-SERVICE DISTRIBUTIONS AND LOANS	  	4
				
		  	5.1.	  	No Distributions or Loans.	  	4
			
	 6.
	  	BENEFITS	  	4
				
		  	6.1.	  	Form, Timing and Amount of Benefits.	  	4
		  	6.2.	  	Withholding of Taxes.	  	4
			
	 7.
	  	NON-ASSIGNABILITY CLAUSE	  	4
				
		  	7.1.	  	General Provision.	  	4
		  	7.2.	  	Exception for Certain Court Orders.	  	4
			
	 8.
	  	ADMINISTRATION	  	5
				
		  	8.1.	  	Plan Administrator.	  	5
		  	8.2.	  	Administration Procedures.	  	5
		  	8.3.	  	Claim Procedures.	  	5
		  	8.4.	  	Plan Expenses.	  	6
			
	 9.
	  	AMENDMENT OR TERMINATION OF PLAN	  	6
				
		  	9.1.	  	Right to Amend.	  	6

  

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		  	9.2.	  	Right to Terminate.	  	6
		  	9.3.	  	Status of the Plan Under ERISA Automatic Termination.	  	7
		  	9.4.	  	Effect of Termination.	  	7
			
	 10.
	  	MISCELLANEOUS	  	7
				
		  	10.1.	  	No Contract of Employment.	  	7
		  	10.2.	  	No Impact on Terms and Conditions of Employment.	  	8
		  	10.3.	  	Severability of Provisions.	  	8
		  	10.4.	  	Relationship to Other Benefits.	  	8
		  	10.5.	  	Heirs, Assigns and Personal Representatives.	  	8
		  	10.6.	  	Headings and Captions.	  	8
		  	10.7.	  	Gender and Number.	  	8
		  	10.8.	  	Payments to Minors, etc.	  	8
		  	10.9.	  	Method of Payment of Benefits.	  	8
		  	10.10.	  	Limitation on Benefits.	  	8
		  	10.11.	  	Payment of Benefits.	  	8
		  	10.12.	  	Protection of the Plan Administrator.	  	9
		  	10.13.	  	No Third Party Beneficiaries.	  	9
		  	10.14.	  	Governing Law.	  	9
		  	10.15.	  	Nonqualified Deferred Compensation Plan Omnibus Provision.	  	9

  

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 PREAMBLE 
  

The NASDAQ OMX Group, Inc. (f/k/a The Nasdaq Stock Market, Inc.) (the “Company”) established The Nasdaq Supplemental Employer Retirement
Contribution Plan (the “Plan”), originally effective as of July 1, 2007. 
  
 The Plan is hereby renamed The NASDAQ OMX Group, Inc. Supplemental Employer Retirement Contribution Plan and is amended and restated, effective as of December 17, 2008, to reflect (i) the provisions of the final
regulations issued under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and (ii) the inclusion of the NASDAQ OMX PHLX, Inc. Employee Savings Plan (the “PHLX Savings Plan”) as a tax-qualified
plan within the Company’s corporate group. 
  
 The sole
purpose of the Plan is to provide for the payment to employees of that portion of the annual “Employer Retirement Contribution” (as that term is defined under both The NASDAQ OMX Group, Inc. 401(k) Savings Plan (f/k/a The Nasdaq Stock
Market, Inc. 401(k) Savings Plan)(the “NASDAQ OMX Savings Plan”) and the PHLX Savings Plan), if any, which cannot be provided to certain employees under the NASDAQ OMX Savings Plan or the PHLX Savings Plan on account of the restrictions
and limitations imposed under Section 401(a)(17) and/or Section 415(c) of the Code (or at the discretion of the Company, on account of the restrictions and limitations imposed under Section 401(a)(4) and/or Section 410(b) of the
Code). 
  
 The Plan does not provide for the payment to employees
of that portion, if any, of any other types of employee or employer contributions (including, but not limited to, “Elective Contributions”, “Participant Contributions” or “Matching Contributions” (as those terms are
defined under the NASDAQ OMX Savings Plan and the PHLX Savings Plan)) which cannot be provided under the NASDAQ OMX Savings Plan or the PHLX Savings Plan, as the case may be, on account of the foregoing (or any other) limitations. 

	1.	DEFINITIONS 

  
 To the extent not otherwise defined in the Preamble, the following terms shall have the following meanings: 
  
 1.1. “Account” shall, with respect to any given
Participant, have the meaning provided under Section 2.1. 
  
 1.2. “Beneficiary” shall, with respect to any given Participant, mean the person, persons or trust or trusts designated by the Participant, by written notice to the Plan Administrator, to receive any payment provided for in
the Plan in the event of the death of such Participant prior to the receipt thereof by such Participant. A Participant may also designate a contingent Beneficiary to receive benefits under the Plan in the event that the primary Beneficiary does not
survive the Participant. In the case of a married Participant, (i) there is no requirement that such person’s spouse must be such Participant’s Beneficiary and (ii) the consent of such spouse is not required in order to name
someone other than the spouse as the Beneficiary. There is also no requirement that a Participant’s Beneficiary must be the same person the Participant has designated as his or her “Beneficiary” under the NASDAQ OMX Savings Plan or
under the PHLX Savings Plan, as the case may be. If a Participant has made no such designation under the terms of this Plan, such Participant’s Beneficiary shall be the same as such person’s “Beneficiary” under the NASDAQ OMX
Savings Plan or the PHLX Savings Plan, as the case may be. 
  
 1.3. “Effective Date” shall mean July 1, 2007. 
  
 1.4. “Employee” shall mean an individual who is either (i) an “Employee,” as defined under the NASDAQ OMX Savings Plan or (ii) an “Employee,” as defined under the PHLX
Savings Plan, as the context shall require. 
  
 1.5.
“Employer Retirement Contribution Shortfall” shall, with respect to any given Employee who has met the requirements of Section 3.01(a) of the NASDAQ OMX Savings Plan or 3.01(a) of the PHLX Savings Plan, as the case may be, for
a Plan Year for which Employer Retirement Contributions are made under such respective savings plan, mean the sum of the following (a) plus (b): 
  
 (a) the excess, if any, of: 
  
 (i) the amount of the Employer Retirement Contribution which would have been made on behalf of such Employee under the NASDAQ OMX Savings Plan or the
PHLX Savings Plan, as the case may be, for such Plan Year had Compensation for such Plan Year not been subject to the limitations of Section 401(a)(17) of the Code and had the Employer Retirement Contribution which could otherwise have been
made to such respective savings plan on behalf of such person not been subject to the limitations of Section 415(c) of the Code (and in all events determined without regard to any limitations which might otherwise be imposed pursuant to the
“nondiscrimination” and “coverage” provisions of Sections 401(a)(4) and 410(b), respectively, of the Code), over 

 (ii) the amount of the Employer Retirement Contribution actually made on behalf of such Employee under
the NASDAQ OMX Savings Plan or the PHLX Savings Plan, as the case may be, determined after the application of the limitations of Sections 401(a)(17) and 415(c) of the Code, pursuant to the terms of the NASDAQ OMX Savings Plan or the PHLX Savings
Plan, as the case may be (and before the application of the provisions of Section 4.05(f) of the NASDAQ OMX Savings Plan or Section 4.05(e) of the PHLX Savings Plan, as the case may be), and 
  
 (b) to the extent that the amount of the Employer Retirement Contribution
which would have been made on behalf of such Employee under (i) the NASDAQ OMX Savings Plan for such Plan Year is reduced pursuant to the provisions of Section 4.05(f) of the NASDAQ OMX Saving Plan or (ii) the PHLX Savings Plan for
such Plan Year is reduced pursuant to the provisions of Section 4.05(e) of the PHLX Savings Plan, as the case may be, such amount, if any, not in excess of such reduction, as is determined in the sole and absolute discretion of the Company.

  
 The Company shall have the right to determine that an Employer
Retirement Contribution Shortfall exists with respect to any given Employee pursuant to the foregoing clause (b) for any given Plan Year, regardless of whether an Employer Retirement Contribution Shortfall otherwise exists with respect to such
person for such Plan Year pursuant to the foregoing clause (a) for such Plan Year. 
  
 1.6. “Participant” shall mean each Employee for whom an Account is then maintained. 
  
 1.7. “Plan” shall mean The NASDAQ OMX Group, Inc. Supplemental Employer Retirement Contribution Plan, as set forth herein and as amended
from time to time. 
  
 1.8. “Plan Administrator”
shall mean the person or persons who shall, from time to time, be serving as the members of the Committee. 
  
 1.9. “Separation from Service” shall mean, with respect to any given Participant, such person’s termination of employment where it
is reasonably anticipated that no further services would be performed after that date or that the level of bona fide services the Participant would perform after that date (whether as an employee or independent contractor) would permanently decrease
to no more than 20 percent of the average level of bona fide services performed over the immediately preceding thirty-six (36)-month period (or if less, the period of the Participant’s employment). 
  
 All capitalized terms which are not otherwise defined in the Plan shall have
the meaning provided under the NASDAQ OMX Savings Plan. 
  

	2.	PLAN PARTICIPATION; CREDITS TO PARTICIPANT ACCOUNTS; NATURE OF ACCOUNTS 

  

 2.1. Establishment of Accounts; Credits to Accounts. With respect to any given Employee, an Account shall first be established under
the Plan for the first Plan Year for which such person has an Employer Retirement Contribution Shortfall, at which time such person shall become a Participant. Such Account shall, as provided in Section 2.2 be only a notational 

  

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account. The amount to be credited to any Employee’s Account for any given Plan Year shall be the amount if any, of such person’s Employer
Retirement Contribution Shortfall for such Plan Year. An Employee’s Employer Retirement Contribution Shortfall with respect to any given Plan Year shall, regardless of when the amount of such award is in fact determined, be deemed credited to
such person’s Account as of the date that the Employer Retirement Contributions for such Plan Year are paid to the trustee under the NASDAQ OMX Savings Plan or the PHLX Savings Plan, as the case may be. 
  
 2.2. Nature of Accounts; Claim to Assets. Notwithstanding any of the
foregoing provisions of this Article II, or any other provision of the Plan to the contrary, no Participant (nor any Beneficiary of a Participant) shall at any time be considered the owner of (or otherwise have any legal interest in) the Account
established and maintained with respect to such Participant. Rather, such Account is a notational account only, maintained solely to establish the amount otherwise payable by the Company to such Participant (or such Participant’s Beneficiary)
under the Plan. All benefits otherwise payable to any Participant, or Beneficiary, shall be payable solely from the general assets of the Company, and to that extent, each Participant and Beneficiary shall be a general creditor of the Company. In
connection therewith, 
  
 (a) any investments, which are, or may
be, made by the Company so as to provide a source for the future payment of benefits under the Plan, and 
  
 (b) all income attributable to such investments, if any, shall remain at all times solely the property and rights of the Company (without being restricted
to the provision of benefits under the Plan), subject only to the claims of the Company’s general creditors. 
  

	3.	ADJUSTMENT TO ACCOUNTS 

  
 3.1. Earnings Adjustments. The Account established for any given Participant shall be increased so as to reflect a “deemed” interest
adjustment, based upon a “deemed” interest rate equal to the interest rate on 10 year U.S. Treasury securities on the Effective Date, plus 100 basis points; provided, however, that such an adjustment with respect to the Employer Retirement
Contribution Shortfall for any given Plan Year shall in no event be made with respect to any periods prior to the date as of which such Participant’s Employer Retirement Contribution Shortfall with respect to such Plan Year was deemed credited
to such Participant’s account pursuant to Section 2.1. The Plan Administrator shall have the right, but not the obligation, in its sole and absolute discretion, to, from time to time change prospectively such “deemed” interest
rate. Unless and until so changed, the “deemed” interest rate shall remain as set forth in this Section 3.1. 
  
 3.2. Account Statements. Each Participant shall, at least annually, receive a statement showing such person’s Account balance. The amounts
shown on each such statement (including, for the avoidance of doubt, all earnings adjustments reflected therein) shall be final and conclusive for all purposes of the Plan. 
  

	4.	VESTING 

  
 4.1. Full Vesting. Each Participant shall at all times be 100% vested in the Account established for such person under the Plan. 
  

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	5.	IN-SERVICE DISTRIBUTIONS AND LOANS 

  
 5.1. No Distributions or Loans. Prior to Separation from Service, no Participant shall be permitted to receive any distribution with respect to
such person’s Account. No Participant shall, at any time, be permitted to receive a loan with respect to such person’s Account. 
  

	6.	BENEFITS 

  
 6.1. Form, Timing and Amount of Benefits. As soon as practicable following a Participant’s Separation from Service, but in no event later than
the last day of the second month following such Separation from Service, there shall be paid to such Participant (or, in the case of such Participant’s death, to such Participant’s Beneficiary) in a single lump sum, an amount equal to the
amount then credited to such Participant’s Account (determined after applying the provisions of Sections 2.1 and 3.1) as of the date as of which such distribution is processed. Notwithstanding the foregoing, if, when a Participant’s
Separation from Service occurs, the Participant is a “specified employee,” as defined under Section 409A(a)(2)(B) of the Code, no payments may be made hereunder before the date which is six months after such Participant’s
Separation from Service or if earlier, such person’s date of death. The lump sum payment which would have otherwise been required to be paid following such Separation from Service shall be paid as soon as administratively practicable after the
date which is six months after the Participant’s Separation from Service (or if earlier, as soon as administratively practicable after the Participant’s death). 
  

 6.2. Withholding of Taxes. The Company may deduct or withhold from any payments to be made under the Plan any Federal, state, local
income or employment taxes as required under applicable laws to be withheld (including under Section 409A of the Code), or may instead require the Participant or Beneficiary, as the case may be, to pay any such amount, or the balance of any
such amount. 
  

	7.	NON-ASSIGNABILITY CLAUSE 

  
 7.1. General Provision. Except as may be otherwise provided in Section 7.2, and except as otherwise permitted by applicable law, neither the
Participant nor any other person shall have any right to commute, sell, assign, pledge, transfer or otherwise convey or encumber the right to receive any payments hereunder, which payments and rights thereto are expressly declared to be unassignable
and non-transferable, nor shall any unpaid benefits be subject to attachment, garnishment or execution for the payment of any debts, judgments, alimony or separate maintenance owed by the Participant or any other person or be transferable by
operation of law in the event of bankruptcy or insolvency of the Participant or any other person. 
  
 7.2. Exception for Certain Court Orders. Notwithstanding the foregoing Section 7.1, payment shall be made in accordance with the provisions of
any judgment, decree, or order which: 
  
 (a) creates for, or
assigns to, a spouse, former spouse, child or other dependent of a Participant the right to receive all or a portion of the Participant’s benefits under the Plan for the purpose of providing child support, alimony payments or marital property
rights to that spouse, child or dependent, 
  

 4 

 (b) is made pursuant to a State domestic relations law, 
  
 (c) does not require the Plan to provide any type of benefit, or any option,
not otherwise provided under the Plan, and 
  
 (d) meets the
requirements, as established by the Plan Administrator, for a “qualified domestic relations order.” 
  
 All determinations as to whether a judgment, decree or order is a “qualified domestic relations order” shall be made solely by the Plan
Administrator. Any payment pursuant to this Section 7.2 shall be reduced by all amounts which the Company maybe required to withhold under applicable Federal, state or local law. 
  

	8.	ADMINISTRATION 

  
 8.1. Plan Administrator. The Plan shall be administered by the Plan Administrator. All aspects of Plan administration shall be the responsibility
of the Plan Administrator. 
  
 8.2. Administration
Procedures. The Plan Administrator shall have discretionary authority based on a reasonable interpretation of the Plan to determine the eligibility for benefits and the amount of benefits payable under the Plan, and shall have discretionary
authority to construe all terms of the Plan, including uncertain terms, to determine questions of fact and law arising under the Plan and to make such rules as may be necessary for the administration of the Plan. Any determination by the Plan
Administrator (including, but not limited to, any determination made pursuant to Section 7.2 or Section 8.3) shall be given deference in the event it is subject to judicial review, and shall be overturned only if it is arbitrary and
capricious or an abuse of discretion, and shall, in all events, be final, conclusive and binding, to the maximum extent permitted by law, on all Employees, Participants, Beneficiaries and all other persons who may claim entitlement to benefits under
the Plan. 
  
 8.3. Claim Procedures. 
  
 (a) The Plan Administrator shall establish procedures for filing claims for
benefits and for the appeal and review of claims for benefits which have been denied. 
  
 (b) If a Participant or Beneficiary (or any other person claiming an entitlement to benefits under the Plan (hereinafter referred to as “Claimant”) is denied any benefits under the Plan, either partially or
in total, no later than 90 days after the receipt of such person’s claim by the Plan Administrator (or within 180 days, if special circumstances require an extension of time for processing the claim and if written notice of such extension and
circumstances is given to such person within the initial 90-day period), the Plan Administrator shall advise the Claimant in writing of the method of computation of such person’s benefit and the specific reason for the denial. The Plan
Administrator shall also furnish the Claimant at that time with: 
  
 (i) a specific reference to pertinent Plan provisions, if any, 
  

 5 

 (ii) a description of any additional material or information needed for the Claimant to perfect such
person’s claim and the reason why such additional material or information is necessary, and 
  
 (iii) an explanation of the Plan’s claim review procedure. 
  

(c) Within 90 days of receipt of the information stated in subsection (b) above, the Claimant shall, if such person desires further review, file a
written request for reconsideration with the Plan Administrator. 
  
 (d) So long as the Claimant’s request for review is pending (including the 90 day period in subsection (c) above), the Claimant or such person’s duly authorized representative may review pertinent Plan documents and may
submit issues and comments in writing to the Plan Administrator. 
  
 (e) A final and binding decision shall be made by the Plan Administrator within 60 days of the filing by the Claimant of such person’s request for reconsideration; provided, however, that if the Plan Administrator, in its discretion,
feels that a hearing with the Claimant (or such person’s representative) present is necessary or desirable, this period shall be extended an additional 60 days, but only so long as written notice of such extension and the reason therefore is
given to such person within the initial 60-day period. 
  
 (f) The
Plan Administrator’s decision on reconsideration shall be conveyed to the Claimant in writing and shall include specific reasons for the decision, written in a manner calculated to be understood by the Claimant, with specific references to the
pertinent Plan provisions on which the decision is based. 
  
 8.4.
Plan Expenses. All expenses related to the operation of the Plan shall be paid by the Company. 
  

	9.	AMENDMENT OR TERMINATION OF PLAN 

  
 9.1. Right to Amend. The provisions of the Plan may be amended at any time and from time to time by the Company (including, but not limited to,
such amendments as the Company determines to be necessary or appropriate to further evidence required compliance with the requirements of Section 409A of the Code); provided, however, that no amendment shall affect the rights of a Participant
or a Beneficiary to the receipt of benefits with respect to any amounts credited to such person’s Account before the time of the amendment. 
  
 9.2. Right to Terminate. The Company may, in its sole discretion, and for any reason (or no reason whatsoever), terminate the Plan at any time, but
only to the extent permitted under Section 409A of the Code; provided, however, that no termination shall (except as otherwise provided under Section 9.4, regarding acceleration of payment of benefits on Plan termination)
affect the rights of a Participant or a Beneficiary to the receipt of benefits with respect to any amounts credited to such person’s Account before the time of the termination. 
  

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 9.3. Status of the Plan Under ERISA Automatic Termination. The Plan is: 
  
 (a) in part an “excess benefit plan,” within the meaning of
Section 3(36) of ERISA, to the extent that the Plan provides benefits to any Participant in excess of the Employer Retirement Contribution which can be provided to such Participant (or such person’s Beneficiary) under the NASDAQ OMX
Savings Plan or the PHLX Savings Plan, as the case may be, on account of the limitations of Section 415(c) of the Code; and 
  
 (b) in part a plan which provides benefits for “management or highly compensated” employees within the meaning of Sections 201, 301 and 401 of
ERISA, and therefore to be exempt from the provisions of Parts 2, 3 and 4 of Title I of ERISA, to the extent that the Plan provides benefits to any Participant (or to such person’s Beneficiary) in excess of the Employer Retirement Contribution
which can be provided to such Participant under the NASDAQ OMX Savings Plan or the PHLX Savings Plan, as the case may be, on account of the limitations of Section 401(a)(17) of the Code (or to the extent that the Plan provides benefits to any
Participant (or to such person’s Beneficiary) to make up for all, or any portion, of the reduction in the amount of the Employer Retirement Contribution which is provided to such Participant under (i) the NASDAQ OMX Savings Plan on account
of the provisions of Section 4.05(f) thereof or (ii) the PHLX Savings Plan on account of the provisions of Section 4.05(e) thereof, as the case may be), and, to the maximum extent permitted by law, and notwithstanding the
incorporation of such two features in this single document, shall be treated as two separate and legally distinct plans. Accordingly, the portion of the Plan described in the foregoing clause (b) shall terminate, and no further benefit shall
accrue hereunder with respect to such portion of the Plan, in the event it is determined by a court of competent jurisdiction or by an opinion of counsel to the Company that such portion of the Plan constitutes an employee pension benefit plan
within the meaning of Section 3(2) of ERISA, which is not so exempt from the provisions of Parts 2, 3 and 4 of Title I of ERISA, but only to the extent such termination is permissible under Section 409A of the Code. 
  
 9.4. Effect of Termination. Notwithstanding any other provision herein
to the contrary, other than prohibitions on impermissible distributions under Section 409A of the Code, upon termination of the Plan (or the portion of the Plan, as the case may be), pursuant to either Section 9.2 or Section 9.3, the
Account balances of each Participant will automatically be distributed in a single lump sum as soon as administratively practicable after such distribution would be permitted under Section 409A of the Code. 
  

	10.	MISCELLANEOUS 

  
 10.1. No Contract of Employment. Neither the establishment of the Plan, nor any modification thereof, nor the creation of any fund, or account, nor
the payment of any benefits, shall be construed as giving any Participant or Employee, or any person whomsoever, the right to be retained in the service of the Company (or in the service of any other entity in the corporate controlled group of which
the Company is a member) and all Participants and other Employees shall remain subject to discharge to the same extent as if the Plan had never been adopted. 
  

 7 

 10.2. No Impact on Terms and Conditions of Employment. Neither the establishment of the Plan, nor
any modification thereof, shall in any way vary, or in any way have any impact on, the otherwise existing terms and conditions (including, but not limited to, such terms and conditions as may be set out in any employment contract) of any
Participant’s or Employee’s employment with the Company (or with any other entity in the corporate controlled group of which the Company is a member). 
  

10.3. 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 this Plan shall be construed and enforced as if such provisions had not been included. 
  
 10.4. Relationship to Other Benefits. No benefits paid under the Plan to any Participant (or to any Participant’s Beneficiary) shall be taken
into account in determining any benefits to which any Participant (or such Participant’s Beneficiary or any other person) may be entitled under any pension, retirement, savings, group insurance or any other benefit plan or program sponsored or
maintained by the Company (or sponsored or maintained by any other entity within the corporate controlled group of which the Company is a member). 
  
 10.5. Heirs, Assigns and Personal Representatives. The Plan shall be binding upon the heirs, executors, administrators, successors and assigns of
the parties, including each Participant and Beneficiary, present and future. 
  
 10.6. Headings and Captions. The headings and captions herein are provided for reference and convenience only, and shall not be considered part of the Plan, and shall not be employed in the construction of the
Plan. 
  
 10.7. 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. 
  
 10.8. Payments to Minors, etc. Any benefit payable to or for the benefit of a minor, an incompetent or other person incapable of receipting
therefore 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 with respect thereto. 
  
 10.9. Method of Payment of Benefits. All benefits under the Plan shall
be paid in cash, check or money order only. 
  
 10.10.
Limitation on Benefits. Benefits shall, on account of the establishment and continued maintenance of the Plan, be payable to any Participant, Beneficiary or any other person only in such amounts, and at such times, as is determined pursuant
to the provisions of the Plan. 
  
 10.11. Payment of
Benefits. All benefits due in accordance with the terms of the Plan to (or on account of) any Participant, shall except as provided in the following sentence, be paid solely from the general assets of the Company. Notwithstanding the foregoing
sentence, to the extent that a Participant’s employer, at the time an Employer Retirement Contribution Shortfall with respect to such Participant arose was an entity outside of the corporate controlled group of 
  

 8 

 
which the Sponsor is a member, the portion of the benefit under the Plan which is attributable to such Employer Retirement Contribution Shortfall shall be
paid solely from the general assets of such other employer. 
  
 10.12. Protection of the Plan Administrator. To the maximum extent permitted by law, the person or persons from time to time serving as the Plan Administrator shall have no personal liability for any actions taken, or failed to be
taken, in connection with the administration or operation of the Plan. The person or persons from time to time serving as the Plan Administrator shall be indemnified by the Company against any and all claims, losses, damages, expenses and
liabilities arising from any good faith action or failure to act under, or in connection with, the Plan, to the maximum extent permitted by law. 
  
 10.13. No Third Party Beneficiaries. No person, (other than (i) a Participant, (ii) a Beneficiary or (iii) any person entitled to
the payment of any benefits in accordance with the provisions of Section 7.2) shall have any rights or interest whatsoever in, or in connection with, the Plan. 
  
 10.14. Governing Law. This Plan shall, to the extent not preempted by ERISA or other Federal law, be construed
according to the internal laws of the state of New York. 
  
 10.15. Nonqualified Deferred Compensation Plan Omnibus Provision. It is intended that all benefits provided pursuant to this Plan shall be provided and paid in a manner, and at such time and in such form, as complies with the
applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance. Notwithstanding the foregoing, neither the Company, any other entity within the same corporate group of which the
Company is a member, the Plan Administrator nor any of their officers, employees or directors shall be liable to any Employee, Participant, or Beneficiary for any failure of the Plan to comply with Section 409A of the Code. 
  

 9Exhibit 10.8.1

 Exhibit 10.8.1 
  
 AMENDMENT TO 
 EMPLOYMENT AGREEMENT 
  
 THIS AMENDMENT (the
“Amendment”) is entered as of December 31, 2008, by and between The NASDAQ OMX Group, Inc. (the “Company”) and Robert Greifeld (the “Executive”). 
  
 WHEREAS, the Executive and the Company (f/k/a/ The Nasdaq Stock Market, Inc.)
entered into an employment agreement, dated as of May 12, 2003 and subsequently amended and restated that employment agreement effective as of January 1, 2007 (the “2007 Agreement”); and 
  
 WHEREAS, the Executive and the Company now desire to amend and the 2007
Agreement so as to reflect the provisions of Section 409A of the Internal Revenue Code and the final regulations issued thereunder, which amendment is to be effective as of January 1, 2007. 
  
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein
and for other good and valuable consideration, the parties hereby amend the provisions of the 2007 Agreement, as set out below. Except to the extent so amended, all of the provisions of the 2007 Agreement shall remain in full force and effect in
accordance with their terms. 
  
 The 2007 Agreement is hereby
amended, as follows: 
  

	 	1.	The second sentence of Section 3 thereof is amended and restated, as follows: 

  
 The Base Salary shall be payable in regular payroll installments in accordance with the Company’s payroll practices as
in effect from time to time (but no less frequently than monthly). 
  

	 	2.	Section 6(b) is amended, as follows: 

  
 (b) SERP Participation and Provisions. The Executive shall continue to participate in The NASDAQ OMX Group, Inc. Supplemental Executive Retirement
Plan, as amended and restated effective as of December 31, 2008 (formerly, the Nasdaq Stock Market, Inc. Supplemental Executive Retirement Plan, the “SERP”). The Company reserves the right to modify or terminate the SERP at any
time. Notwithstanding any term or condition contained in the SERP to the contrary, and subject to the Company’s right to modify or terminate the SERP at any time: 
  

 (i) Section 5.1 of the SERP shall be applied as if the age and service requirements stated therein were age 49 and four years of
service rather than age 55 and ten years of service. Accordingly, the Executive shall be 100% vested in his accrued SERP benefit upon the later of his attainment of age 49 while employed and his completion of four years of service. 
  
 (ii) Section 5.1 of the SERP shall be applied as if the age and service
requirements stated therein were satisfied upon the Executive’s termination of employment by the Company without Cause or by the Executive for Good Reason 

 
pursuant to Section 8(b) below. Accordingly, under such circumstances, the Executive shall be 100% vested in his SERP benefit even if his employment
terminates prior to his attaining age 49 and having completed four years of service with the Company. 
  
 (iii) The death benefit provided in Sections 8.1 and 8.2 of the SERP shall become payable if the Executive dies before his SERP benefit commences, but
after having satisfied the requirements of Section 5.1 of the SERP prior to modification by Section 6(b) (i) above (and, if the foregoing conditions are satisfied, such death benefit will be payable even if the Executive’s death
occurs after he has left employment with vested rights under the SERP, but before payment of the SERP benefit commences). 
  
 (iv) Sections 6.4 and 7.4 of the SERP (relating to early retirement) shall apply only if the Executive has at least five years of service; provided
that this special rule shall not permit the Executive’s SERP benefit to start earlier than age 55. 
  
 (v) The provisions of this Section 6(b) shall not accelerate the rate at which the SERP benefit accrues so that the amount of the accrued SERP
benefit shall be determined with reference to an accrual over a period of 3,650 days as provided in the SERP definition of “Accrued Benefit.” 
  

	 	3.	Section 7(a) is amended, by the adding the following two sentences to the end there, as follows: 

  
 All such reimbursements shall be made no later than the last day of the calendar year following the calendar year in which
the Executive incurs the reimbursable expense. Additionally, the amount of expenses eligible for reimbursement during one calendar year may not affect the expenses eligible for reimbursement or any in-kind benefits to be provided in any other
calendar year and the right to reimbursement is not subject to liquidation or exchange for another benefit. 
  

	 	4.	The final sentence of Section 7(b) is deleted and replaced, as follows: 

  

The Company shall conduct a security audit of up to two of the Executive’s personal residences and reimburse the Executive during calendar year
2010 for up to $50,000 of the cost of upgrading or installing the Executive’s home security systems, regardless of whether such expenses were incurred in 2010 or in 2009; provided, however, that, to the extent elected by the
Executive in writing no later than December 31, 2008, the Company shall instead reimburse the Executive during calendar year 2009 for up to $50,000 of the cost incurred in 2009 of upgrading or installing the Executive’s home security
systems. 
  

	 	5.	Section 7(c) is deleted. 

  

	 	6.	Clause (i) of the first sentence of Section 8(a) is amended and restated, as follows: 

  
 (i) any unpaid Base Salary through the Date of Termination, to be paid in accordance with the Company’s payroll
practices as described in Section 3 above, 
  

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	 	7.	Section 8(b)(i)(A) is amended and restated, as follows: 

  
 Severance Payment. The Company shall pay the Executive an amount (the “Severance Payment”) equal to the sum of (I) the Base
Salary paid to the Executive with respect to the calendar year immediately preceding the Executive’s Date of Termination and (II) the Annual Bonus for the calendar year immediately preceding the Executive’s Date of Termination, payable in
substantially equal monthly installments for the twelve month period following the Executive’s Date of Termination, with the first installment to be paid in the month following the month in which the Date of Termination occurs (the
“Severance Period”), or, if required to avoid the imposition of tax, interest or penalties under Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) beginning on the date that is six months
and one day after the date of the Executive’s “separation from service” within the meaning of Section 409A, in which case the first payment shall include all amounts that would have been paid on earlier payroll dates but for such
delay. 
  

	 	8.	The first sentence of the first paragraph of Section 8(b)(i)(C) is amended and restated, as follows: 

  
 The Company shall provide the Executive with continued health care coverage
with such cost of coverage to be provided, directly or indirectly, on at least a monthly basis for the lesser of (I) the period of twelve months beginning with the Termination Date or (II) the period beginning with the Termination Date and
ending on the date that the Executive is eligible for coverage under the health care plans of a subsequent employer, such coverage to be conditioned upon the Executive (X) being covered by the Company’s health care plans immediately prior
to the Date of Termination and (Y) paying his share of the applicable health care premiums, deductibles and co-payments for such period of coverage. 
  

	 	9.	Section 8(c)(ii) is amended and restated, as follows: 

  
 For purposes of this Agreement, “Permanent Disability” means either (i) the inability of the Executive to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months or (ii) the Executive is, by reason of
any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three
months under an accident and health plan covering employees of the Company. The Executive shall be deemed Permanently Disabled if he is determined to be (i) totally disabled by the Social Security Administration or (ii) disabled in
accordance with a disability insurance program, provided such definition of 

  

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disabled under the program complies with the definition of Permanent Disability hereunder. Otherwise, such Permanent Disability shall be certified by a
physician chosen by the Company and reasonably acceptable to the Executive (if he is then able to exercise sound judgment). 
  

	 	10.	Section 8(g)(i)(C) is amended and restated, as follows: 

  
 Health and Welfare Benefits. The Company shall provide the Executive with continued health care coverage for the lesser of (I) twenty-four
months beginning with the Termination Date or (II) the period beginning with the Termination Date and ending on the date that the Executive is eligible for coverage under the health care plans of a subsequent employer, such coverage to be
conditioned upon the Executive (X) being covered by the Company’s health care plans immediately prior to the Date of Termination and (Y) paying his share of the applicable health care premiums, deductibles and co-payments for such
period of coverage. The foregoing health care benefits are not intended to limit or otherwise reduce any entitlements that Executive may have under COBRA. In addition, the Company shall continue to provide the Executive with the same level of
accident (AD&D) and life insurance benefits upon substantially the same terms and conditions (including contributions required by the Executive for such benefits) as existed immediately prior to the Executive’s Date of Termination (or, if
more favorable to the Executive, as such benefits and terms and conditions existed immediately prior to the Change in Control) for the same period for which the Company shall provide the Executive with continued health care coverage. 
  

	 	11.	Clause (B) of the definition of “Change in Control” in Section 8(g) is amended and restated, as follows: 

  
 (B) the date on
which, within any twelve (12)-month period (beginning on or after the Effective Date), a majority of the directors then serving on the Board are replaced by directors is not endorsed by at least two-thirds ( 2/3) of the members of the Board before the date of appointment or election; 
  

	 	12.	Clause (D) of the definition of “Change in Control” in Section 8(g) is amended and restated, as follows: 

  
 (D) the consummation of an agreement for the sale or disposition by the
Company of all or substantially all of the Company’s assets (or any transaction having a similar effect), provided that such agreement or transaction of similar effect shall in all events require the disposition, within any twelve (12)-month
period, of at least 40% of the gross fair market value of all of the Company’s then assets; other than a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity, at least 50% of the combined
voting power of the voting securities of which are owned directly or indirectly by stockholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale. 
  

 4 

	 	13.	The paragraph immediately following clause (D) of the definition of “Change in Control” in Section 8(g) is amended and restated, as follows:

  
 Notwithstanding the foregoing,
in no event shall a Change in Control be deemed to occur hereunder unless such event constitutes a change in ownership of the Company, a change in effective control of the Company or a change in ownership of a substantial portion of the
Company’s assets within the meaning of Section 409A of the Code. Notwithstanding the foregoing, a Change in Control shall not be deemed to occur as a result of any transaction or event which causes the reduction in the Voting Securities
held by the NASD below 50% which would not otherwise constitute a Change in Control pursuant to clauses (A) through (D) above. 
  

	 	14.	Section 13(i) is amended and restated, as follows: 

  
 Section 409A. Notwithstanding any other provision of this Agreement, any payment, settlement or benefit triggered by
termination of the Executive’s employment with the Company shall not be made until six months and one day following Date of Termination if such delay is necessary to avoid the imposition of any tax, penalty or interest under
Section 409A(a). For purposes of this Agreement, termination or severance of employment will be read to mean a “separation from service” within the meaning of Section 409A of the Code where it is reasonably anticipated that no
further services would be performed after that date or that the level of services the Executive would perform after that date (whether as an employee or independent contractor) would permanently decrease to no more than 20 percent of the average
level of bona fide services performed over the immediately preceding thirty-six (36)-month period. The Company, after consulting with the Executive, may amend this Agreement or the terms of any award provided for herein in any manner that the
Company considers necessary or advisable to ensure that cash compensation, equity awards or other benefits provided for herein are not subject to United States federal income tax, state or local income tax or any equivalent taxes in territories
outside the United States prior to payment, exercise, vesting or settlement, as applicable, or any tax, interest or penalties pursuant to Section 409A. Any such amendments shall be made in a manner that preserves to the maximum extent possible
the intended benefits to the Executive. This paragraph 13(i) does not create an obligation on the part of the Company to modify this Agreement and does not guarantee that the amounts or benefits owed under the Agreement will not be subject to
interest and penalties under Section 409A. For purposes of this Agreement, all rights to payments and benefits hereunder shall be treated as rights to receive a series of separate payments and benefits to the fullest extent allowed by
Section 409A. 
  

	 	15.	The second sentence of the second paragraph of section (a) of Exhibit D is amended and restated, as follows: 

  
 The reduction of the amounts payable hereunder, if applicable, shall be made
by reducing first the payments under Section 8(g)(i)(A), then the payments in 8(g)(i)(B) and 8(g)(i)(C) in that order. 
  

 5 

	 	16.	The first sentence of the second paragraph of section (b) of Exhibit D is amended and restated, as follows: 

  
 The Reimbursement Payment under this Exhibit D with respect to any
Payments shall be made no later than thirty (30) days following such Payment, but no later than the end of the calendar year following the calendar year in which the applicable Excise Tax is remitted to the Federal government. 
  

	 	17.	The second sentence of the third paragraph of section (b) of Exhibit D is amended and restated, as follows: 

  
 In the event the amount of the Reimbursement Payment is less than the amount
necessary to reimburse Executive for the Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment (together with interest at the rate provided in Section 1274(b)(2)(B) of the
Code) shall be promptly paid by the Company to or for the benefit of Executive, but no later than the end of the calendar year following the calendar year in which the applicable Excise Tax is remitted to the Federal government. 
  
 [SIGNATURE PAGE FOLLOWS] 
  

 6 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the day and year first
above written. 
  

			
	 /s/ Robert Greifeld

	Robert Greifeld
	
	THE NASDAQ OMX GROUP, INC
		
	By:	 	 /s/ H. Furlong Baldwin

		 	H. Furlong Baldwin
		 	Chairman, Board of Directors of
		 	The NASDAQ OMX Group, Inc.

  

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