Document:

EX-10.4

 Exhibit 10.4 

ASSIGNMENT OF AND AMENDMENT TO EMPLOYMENT AGREEMENT 

THIS ASSIGNMENT OF AND AMENDMENT (the “Amendment”), dated as of June 28, 2013, to the Employment Agreement, between News
America Incorporated (“NAI”) and Joel Klein (“Executive”) dated as of January 1, 2011 (the “Agreement”), is effective as of January 1, 2013. Defined terms used in this Amendment and not defined shall have the
meanings given such terms in the Agreement. All conditions set forth in the Agreement remain applicable unless otherwise amended by the terms and conditions outlined below. 

WHEREAS, News Corporation (“NEWS CORP”) is intending to separate (the “Separation”) certain of its businesses, including
Amplify, its education division (“Amplify”), into an independent publicly traded company (“New News Corporation”); and 

WHEREAS, in anticipation of, and in connection with, the Separation, NAI and Executive desire to assign and amend the Agreement. 

NOW, THEREFORE, NAI and Executive agree that the Agreement is hereby assigned and amended as follows: 

1. NAI and Executive hereby consent to the assignment of the Agreement, effective as of January 1, 2013, to NC Transaction, Inc. (the
“Company”), a Delaware corporation that is currently a subsidiary of NEWS CORP and will be a subsidiary of New News Corporation as of the Separation. Effective as of January 1, 2013, except as otherwise provided in this Letter
Agreement, all references in the Agreement to “NAI” or “Company” shall be amended to be references to NC Transaction, Inc. and all references in the Agreement to “Education Division” shall be deemed to be references to
Amplify. As of the effective time of the Separation, all references in the Agreement to “News Corporation” or “NEWS CORP” shall be amended to be references to New News Corporation and all references in the Agreement to the
Chairman and Chief Executive Officer of NEWS CORP and the Deputy Chairman and Chief Operating Officer of NEWS CORP shall be amended to be references to the Executive Chairman of New News Corporation and the Chief Executive Officer of New News
Corporation, respectively. As so assigned, the Agreement continues in full force and effect. 
 2. As of the effective time of the
Separation, the first paragraph of Section 1 of the Agreement is hereby deleted in its entirety and replaced as follows: The Company agrees to employ the Executive and the Executive agrees to accept employment with the Company for the Term of
Employment hereinafter defined. During the Term of Employment, the Executive, subject to the provisions of this Agreement, shall have the title and the duties of Executive Vice President of New News Corporation. In addition, the Executive shall
serve as the Chief Executive Officer of Amplify. As the Chief Executive Officer of Amplify: (i) the Executive will be the most senior officer of Amplify (other than the Executive Chairman of New News Corporation and the Chief Executive Officer
of New News Corporation); and (ii) the Executive shall have such duties and authority as are customarily associated with the position of Chief Executive Officer. The Executive shall report directly to the Executive Chairman of New News
Corporation and the Chief Executive Officer of New News Corporation. New News Corporation shall use its best efforts to assure that the Executive serves and continues to serve as a member of the New News Corporation Board of Directors during the
Term of Employment. 

 3. As of the effective time of the Separation, references in Sections 5(a), 9(a)(iii) and 9(a)(v)
of the Agreement to the “Office of the Chairman” or “OOC” shall be deleted in their entirety and the words “similarly situated” shall be added before “senior executives” in Sections 5(a), 9(a)(iii) and 9(a)(v)
of the Agreement. In addition, as of the effective time of the Separation, the last sentence in Section 5 of the Agreement shall be deleted in its entirety. 

4. NAI and the Executive hereby agree that the assignment of the Agreement and the terms of this Amendment, including, without limitation,
amendments relating to reporting titles or offices, obligations with respect to the election and/or designation of Executive as a director and officer of NEWS CORP and/or the benefit plans in which Executive participates, shall not be circumstances
entitling Executive to terminate his employment pursuant to Section 9. 

 IN WITNESS WHEREOF, the parties hereto have affixed their signatures as of the day and year first written above.

  

			
	NEWS AMERICA INCORPORATED
		
	By:	 	   /s/ Michael L. Bunder

	Name:  Michael L. Bunder
	Title:    Senior Vice President

  

	
	 /s/ Joel Klein

	Joel Klein

 As an inducement to the Executive to enter into the foregoing Amendment, the undersigned hereby guarantees full
performance and payment of all of the obligations of NC Transaction, Inc., waiving exhaustion of remedies, including, without limitation, obligations with respect to the election and/or designation of Executive as a director and officer to serve in
the capacities and to have the duties set forth in Section 1 of the Agreement, as amended. 
  

			
	NEW NEWSCORP INC
		
	By:	 	 /s/ Michael L. Bunder

	Name:  Michael L. Bunder
	Title:  Senior Vice PresidentEX-10.6

 Exhibit 10.6 
  

					
		 	News Corporation 2013 Long-Term Incentive Plan	  	(Cash – US)
		 	PERFORMANCE STOCK UNIT AWARD AGREEMENT	  	
		 	For the FY [    ] – FY [    ] Performance Cycle	  	

  

			
	  

Award of Performance Stock Units
	  	  

News Corporation, a Delaware corporation (“News Corp”), hereby awards you the target number of cash settled performance stock units
(“PSUs”) relating to shares of its Class A Common Stock, par value $0.01 per share (the “NWSA Shares”) set forth in your Award Summary, included herewith and forming part of this agreement. The terms and conditions of this PSU
award are set forth in this PSU Award Agreement (the “PSU Award Agreement”) and in the News Corporation 2013 Long-Term Incentive Plan, as amended, (the “2013 LTIP”).

 
 The terms of the 2013 LTIP are incorporated herein by reference. All capitalized terms
that are not defined in this PSU Award Agreement have the meaning set forth in the 2013 LTIP. By accepting this award of PSUs, you agree to all of the terms and conditions described in this PSU Award Agreement and in the 2013 LTIP. You acknowledge
that you have carefully reviewed the 2013 LTIP and agree that the terms of the 2013 LTIP will control in the case of any conflict between this PSU Award Agreement and the 2013 LTIP.

 
 Unless otherwise provided in this PSU Award Agreement, the actual cash value of NWSA
Shares awarded to you shall be from 0% and 200% of the target PSUs awarded, as determined by the Compensation Committee of the News Corp Board of Directors or its designees (the “Committee”), based on the achievement of the Performance
Objectives (herein defined).
  
 Subject to the terms and conditions set forth below, PSUs
represent the potential to receive, at the end of the applicable performance period, the cash value of a number of NWSA Shares (the “PSU Program”).
  

The cash value of NWSA Shares that you receive, if any, will be fully vested and immediately payable to you.

 

	  
 Conversion of Performance
Stock Units
	  	  
 Unless otherwise provided in
this PSU Award Agreement, your PSUs will convert to the cash value of NWSA Shares on the vesting date after the end of the three-year performance period ending
[                ] (the “Performance Period”) with the cash value of NWSA Shares to be received, if any, determined by comparing News Corp’s actual
results with objectives set for the News Corp Named Executive Officer PSU Program (based on News Corp’s audited consolidated financial statements for the Performance Period) (the “Performance Objectives”).

 
 The percentage to which each of the Performance Objectives has been achieved corresponds
to a payout multiplier. The payout multipliers for each of the Performance Objectives are then averaged (using pre-set weightings for each) to create one overall payout multiplier, which is subject to an overall cap of 200%. The overall payout
multiplier is then multiplied by the target number of PSUs to determine the number of corresponding NWSA Shares for which you will be entitled to receive the cash value. The overall payout multiplier for the Performance Objectives will be based on
that used to determine awards for the News Corp Named Executive Officer PSU Program for the Performance Period.
  

The Committee has set the Performance Objectives and the Committee, and the management of News Corp, as appropriate, will determine the achievement of the
Performance Objectives based on the actual results at the end of the Performance Period, and calculate the overall payout multiplier and the conversion of the PSUs into the cash value of NWSA Shares.

 
 In all events, the Committee’s determination(s) will be binding.

 
 As soon as is reasonably practicable following the vesting date set forth on the Award
Summary, the cash value NWSA Shares payable with respect to the vested PSUs will be paid to you. Upon settlement, your PSUs shall be extinguished and such PSUs will no longer be considered to be held by you for any purpose.

 

			
	  

Withholding Taxes
	  	  

You agree, as a condition of this award of PSUs, that any applicable Federal, state, local or foreign tax or withholding payment that may be due as a result of
vesting and/or payment of your PSUs shall be satisfied by News Corp or any Affiliate, as the case may be, withholding such amounts from cash that would otherwise be paid to you under this PSU award.

 

	  
 Employment with News
Corp
	  	  
 Except as provided herein, your
eligibility to receive the cash value of NWSA Shares is subject to the condition that you remain employed by News Corp from the date hereof through the date on which the PSUs are paid out in the cash value of NWSA Shares, subject to the terms of
your PSU Award Agreement and with the exceptions set forth below.
  
 Subject to the
exceptions set forth below, in the event your employment is terminated for any reason during the Performance Period or after the Performance Period and before the payout of your PSUs, you shall forfeit your PSU award and neither you, nor your
beneficiary or estate, shall be entitled to receive any payment under your PSU Award Agreement.
  

In the event your employment is terminated due to your Retirement or Permanent Disability, and if you were employed beyond the last day of the first fiscal
year of the applicable Performance Period, you will receive the cash value of NWSA Shares on the PSU vesting date after the end of the relevant Performance Period based on the overall payout multiplier for the Performance Objectives.

 
 In the event of your death, and if you were employed beyond the last day of the first
fiscal year of the applicable Performance Period, your estate will receive the cash value of NWSA Shares as soon as practicable, based on the projected performance for the Performance Objectives (at the determination of News Corp) for all PSU
Program cycles with less than one year remaining in the Performance Period, and based on target level performance otherwise.
  

In the event that your employment during the Performance Period transfers from one business group, including corporate groups, which participates in the News
Corp PSU Program to another business group that also participates in the News Corp PSU Program, you will remain eligible to receive payment under your PSU Award Agreement.
  

If your business entity is merged with another entity within News Corp or is sold outside of News Corp, the Committee may, in its sole discretion, make such
adjustments to your PSU award as it deems appropriate. All determinations that the Committee makes shall be conclusive and binding on all persons for all purposes. The Committee need not treat all PSU awards in the same manner.

 

	  
 Leaves of
Absence
	  	  
 For purposes of this PSU Award
Agreement, your Service does not terminate when you go on a bona fide employee leave of absence that was approved by News Corp or an Affiliate in writing, if the terms of the leave provide for continued Service crediting, or when continued Service
crediting is required by applicable law. However, your Service will be treated as terminating three months after you went on employee leave, unless your right to return to active work is guaranteed by law or by a contract. Your Service terminates in
any event when the approved leave ends unless you immediately return to active employee work.
  

The Committee shall determine, in its sole discretion, which leaves shall count for this purpose, and when your Service terminates for all purposes under the
2013 LTIP.
  

	  
 Adjustments to News Corp
Actual Results
	  	  
 At the end of or during the
Performance Period, as applicable, actual results for News Corp may be adjusted at the sole discretion of the Committee as it deems appropriate to:
  

•    Exclude the effect of extraordinary, unusual and/or non-recurring items, discontinued
operations, significant acquisitions, and accounting charges or policy changes; and
  

•    Reflect such other facts as the Committee deems appropriate so as to reflect the
performance of the business group and not distort the calculation of the PSU award.
  

  

			
		 	FY [    ] – FY [    ] PSU Award Agreement 2        

			
	 	  	  

All such determinations of the Committee shall be conclusive and binding on all persons for all purposes.

 

	  
 No Vested Right in Future
Awards
	  	  
 Participant acknowledges and
agrees (by receiving this PSU Award Agreement) that the eligibility to receive PSUs under this PSU Award Agreement is made on a fully discretionary basis by the Committee and that this PSU Award Agreement does not lead to a vested right to receive
any cash value of NWSA Shares, any additional PSUs or other equity incentive awards in the future.
  

Further, the PSU award set forth in this PSU Award Agreement constitutes a non-recurring benefit and the terms of this PSU Award Agreement are only applicable
to the PSU award distributed pursuant to this PSU Award Agreement.
  

	  
 Employment
Agreements
	  	  
 This PSU Award Agreement shall
not be applied or interpreted in a manner which would decrease the rights held by, or the payments owing to, you under any employment agreement with News Corp and, if there is any conflict between the terms of such employment agreement and the terms
hereof, the employment agreement shall control.
  

	  
 Confidentiality
	  	  
 You acknowledge that you have
read and understand News Corp’s policies on confidentiality as set forth in the News Corp Standards of Business Conduct and the News Corp Insider Trading and Confidentiality Policy (collectively, the “Confidentiality Policies”) and
hereby agree that during the course of your employment with News Corp and any time after your employment with News Corp is terminated, you will continue to abide by the terms of the Confidentiality Policies, including with respect to any materials
or information you receive in connection with your PSU award.
  

	  
 Retention and Other
Rights
	  	  
 This PSU Award Agreement does
not give you the right to be retained or employed by News Corp or any Affiliate in any capacity for any given period or upon any specific terms of employment.
  

You waive any and all rights to compensation or damages for the termination of your office or employment with News Corp or any Affiliate for any reason
(including unlawful termination of employment) insofar as those rights arise from you ceasing to have rights in relation to this PSU award as a result of that termination or from the loss or diminution in value of such rights.

 

	  
 Stockholder
Rights
	  	  
 You, your estate or heirs, do
not have and will not have, any of the rights of a stockholder of News Corp with respect to the PSUs granted to you pursuant to this PSU Award Agreement.
  

	  
 PSU Award
Transferability
	  	  
 Your PSUs may not be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated, whether by operation of law or otherwise, nor may your PSUs be made subject to execution, attachment or similar process.

 

	  
 Applicable Law and
Forum
	  	  
 This PSU Award Agreement will be
interpreted and enforced under the laws of the State of New York, other than any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this PSU Award Agreement to the substantive law of another
jurisdiction.
  
 By accepting this PSU award, you expressly consent to the exclusive
jurisdiction of the federal or state courts serving New York, New York for all lawsuits and actions arising out of or relating to this PSU Award Agreement, and you expressly waive any defense that such courts lack personal jurisdiction over you. All
such lawsuits and actions shall be tried in the federal or state courts serving New York, New York to the exclusion of all other courts.

 

  

			
		 	FY [    ] – FY [    ] PSU Award Agreement 3        

			
	  

Severability
	  	  
 In
the event that any provision of this PSU Award Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of this PSU Award Agreement, and this PSU Award Agreement shall be construed
and enforced as if the illegal or invalid provision had not been included.
  

	  
 Data Privacy
	  	  
 News Corp may collect, hold, use
and process personal data about you in order to administer the 2013 LTIP. Such data includes, but is not limited to, the information provided in this PSU Award Agreement and any changes thereto, other appropriate personal and financial data about
you, such as your tax identification number, equity grant number, home address, business address and other contact information, payroll information and any other information that might be deemed appropriate by News Corp to facilitate the
administration of the 2013 LTIP.
  
 By accepting this PSU award, you freely give
unambiguous consent to News Corp to collect, hold, use and process any such personal data for the purpose of administering the 2013 LTIP. You also freely give unambiguous consent to News Corp and other outside persons or entities designated by News
Corp to transfer any such personal data within and outside the country in which you work or are employed, including, with respect to non-United States resident participants, to the United States, a jurisdiction that may not offer data protections
considered adequate in your home country, in order to administer the 2013 LTIP. Such personal data shall be treated consistent with the data privacy policies of News Corp.

 

	  
 Consent to Electronic
Delivery
	  	  
 News Corp may choose to deliver
certain statutory materials relating to the 2013 LTIP in electronic form. By accepting this PSU award, you agree that News Corp may deliver the 2013 LTIP, the 2013 LTIP prospectus and News Corp’s annual report (Form 10-K) to you in an
electronic format. If, at any time, you would prefer to receive paper copies of these documents, as you are entitled to receive, News Corp would be pleased to provide paper copies. Please contact News Corp, Equity Plan Administration, 1211 Avenue of
the Americas, New York, NY 10036 or send an email to EquityPlansGroup@newscorp.com to request paper copies of these documents.
  

	  
 2013 LTIP
Materials
	  	  
 Copies of the 2013 LTIP, the
2013 LTIP prospectus, and the annual report are available on the Morgan Stanley Benefit Access website at https://www.benefitaccess.com.
  

	  
 Section 409A
	  	  
 It is intended that this PSU
Award Agreement comply with Section 409A to the extent subject thereto, and, accordingly, to the maximum extent permitted, this PSU Award Agreement will be interpreted and administered to be in compliance with Section 409A. To the extent that News
Corp determines that you would be subject to the additional taxes or penalties imposed on certain nonqualified deferred compensation plans pursuant to Section 409A as a result of any provision of this Award Agreement, such provision shall be deemed
amended to the minimum extent necessary to avoid application of such additional taxes or penalties. The nature of any such amendment shall be determined by News Corp.
  

Notwithstanding anything to the contrary in this PSU Award Agreement or the 2013 LTIP, to the extent required to avoid accelerated taxation and penalties under
Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement during the six-month period immediately following your “separation from service” (as defined for purposes of
Section 409A, a “Separation from Service”) will instead be paid on the first payroll date after the six-month anniversary of your Separation from Service (or your death, if earlier). Notwithstanding anything to the contrary in this PSU
Award Agreement, for purposes of any provision of this PSU Award Agreement providing for the settlement of any NWSA Shares upon or following a termination of employment or a termination of Service that are considered “deferred

 

  

			
		 	FY [    ] – FY [    ] PSU Award Agreement 4        

			
	 	  	 compensation” under Section 409A, references to your
“termination of employment” or “termination of Service” (and corollary terms) with News Corp shall be construed to refer to your Separation from Service.

 

  

			
		 	FY [    ] – FY [    ] PSU Award Agreement 5

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