Document:

Form of Long-Term Incentive Plan

 Exhibit 10.21 
 FORM OF STANCORP FINANCIAL GROUP, INC. 
 LONG-TERM
INCENTIVE AWARD AGREEMENT 
 (            
Performance Period) 
 This Long-Term Incentive Award Agreement (this “Agreement”) is made effective as of
             between StanCorp Financial Group, Inc., an Oregon corporation (the “Company”) and
             (the “Employee”). 
 On
            , the Organization and Compensation Committee (the “Committee”) of the Company’s Board of Directors (the “Board”) gave final approval for a
performance-based award to the Employee pursuant to Section 8 of the Company’s 2002 Stock Incentive Plan (the “Plan”). Compensation paid pursuant to the award is intended to qualify as performance-based compensation under
Section 162(m) of the Internal Revenue Code of 1986 (the “Code”). Employee desires to accept the award subject to the terms and conditions of this Agreement. 
 In consideration of the agreements set forth below, the Company and the Employee agree as follows: 
 1. Award. Subject to the terms and conditions of this Agreement, the Company shall issue to the Employee the number of shares of
common stock (“Common Stock”) of the Company (“Performance Shares”) determined under this Agreement based on (a) the Company’s performance during the three-year period from
             to              (the “Performance Period”) as described in Section 2, and
(b) Employee’s continued employment until the vesting date as described in Section 3. Recipient’s “Maximum Share Amount” for purposes of this Agreement is
             shares. 
 2. Performance Conditions.

 2.1 Subject to Section 3 and Section 4, the number of Performance Shares to be issued to the Employee shall be
determined by multiplying the Maximum Share Amount by the Payout Factor determined under the following formula: 
 Payout Factor
= (25% * TSR PF) + (25% * ROE PF) + (50% * Premium Growth PF) 
 where the “TSR PF,” the “ROE PF” and the “Premium
Growth PF” are determined under the following table based on the Company’s Comparative TSR, Average ROE and Comparative Premium Growth, respectively (each as defined below), for the Performance Period. 
  

																	
	 Comparative TSR
	 	 	TSR PF	 	 	Average ROE	 	 	ROE PF	 	 	Comparative
Premium Growth	 	 	Premium
Growth PF	 
	            or less	  	 	0	% 	 	            % or less	  	 	0	% 	 	            % or less	  	 	0	% 
	            	% 	 	70	% 	 	            	% 	 	70	% 	 	            	% 	 	70	% 
	            % or more	  	 	100	% 	 	            % or more	  	 	100	% 	 	            % or more	  	 	100	% 

 If the Comparative TSR for the Performance Period is between any two data points set forth in the first
column of the above table, the TSR PF shall be determined by interpolation between the corresponding data points in the second column of the table. If the Average ROE for the Performance Period is between any two data points set forth in the third
column of the above table, the ROE PF shall be determined by interpolation between the corresponding data points in the fourth column of the table. If the Comparative Premium Growth for the Performance Period is between any two data points set forth
in the fifth column of the above table, the Premium Growth PF shall be determined by interpolation between the corresponding data points in the sixth column of the table. 
 2.2 The Company’s “Comparative TSR” for the Performance Period shall be equal to the Company TSR minus the S&P 500 TSR. The “Company TSR” shall be calculated by
(a) assuming that $100 is invested in the Common Stock at a price equal to the closing market price of the stock on the last trading day of             , (b) assuming that
for each dividend paid on the Common Stock during the Performance Period, the amount equal to the dividend paid on the assumed number of shares held is reinvested in additional shares at a price equal to the closing market price of the stock on the
ex-dividend date for the dividend, and (c) determining the final dollar value of the total assumed number of shares based on the closing market price of the Common Stock on the last trading day of
            . The “Company TSR” shall then equal the amount determined by subtracting $100 from the foregoing final dollar value, dividing the result by 100 and expressing
the resulting fraction as a percentage. The “S&P 500 TSR” shall be calculated by dividing the reported closing value of the S&P 500 Total Return Index on the last trading day of
             by the reported closing value of the S&P 500 Total Return Index on the last trading day of
            , subtracting one from the result and then expressing the resulting fraction as a percentage. 
 2.3 The Company’s “Average ROE” for the Performance Period shall be equal to the average of the Adjusted ROE determined for
each of the three years of the Performance Period. “Adjusted ROE” for any year shall mean the Company’s net income return on average equity (excluding after-tax net capital gains (losses) and accumulated other comprehensive income
(loss)) as publicly reported by the Company and calculated as follows. Adjusted ROE for any year shall be calculated by dividing the Company’s Adjusted Net Income for the year by the Company’s Average Equity for the year. “Adjusted
Net Income” for any year shall mean the amount calculated by subtracting the Company’s After-Tax Net Capital Gains (Losses) for the year from the Company’s net income for the year. “After-Tax Net Capital Gains (Losses)” for
any year shall mean the amount calculated by subtracting from the Company’s net capital gains (losses) for the year (a) the total federal and state income taxes payable by the Company and its subsidiaries with respect to any such net
capital gains and (b) the total reduction (expressed as a negative number) in federal and state income taxes payable by the Company and its subsidiaries attributable to any such net capital losses. For this purpose, the Company’s net
income and net capital gains (losses) for any year shall be those amounts as set forth in the audited consolidated financial statements of the Company and its subsidiaries for the year. “Average Equity” for any year shall mean the average
of the Company’s Adjusted Equity as of the last day of the year and the Company’s Adjusted Equity as of the last day of the prior year. “Adjusted Equity” as of any date shall be calculated by subtracting the Company’s
accumulated other comprehensive income (loss) from the Company’s total shareholders’ equity, in each case as set forth on the audited consolidated balance sheet of the Company and its subsidiaries as of the applicable date. 
  

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 2.4 The Company’s “Comparative Premium Growth” for the Performance Period
shall be equal to the Company Premium Growth minus the Peer Group Premium Growth. “Company Premium Growth” shall be calculated by dividing the total              premium
revenues for the Company’s group life and AD&D, group long term disability and group short term disability product lines by the total              premium revenues for the
same product lines (in each case as set forth in the notes to audited consolidated financial statements of the Company and its subsidiaries for the applicable year), subtracting one from the result and then expressing the resulting fraction as a
percentage. “Peer Group Premium Growth” shall be calculated by determining for each of the companies listed in the following table (the “Peer Group Companies”) the amount of
             revenues for the segment or product line(s) listed in the table and adding those amounts together, and then dividing that total by the total
             revenues for the same segments or product line(s) of the Peer Group Companies, subtracting one from the result and then expressing the resulting fraction as a
percentage. All revenue information for each Peer Group Company shall be obtained from the financial or statistical supplement published by the company for the last quarter of the applicable year. 
  

			
	 Peer Group Company
	  	 Comparative Premium Revenue Line Item(s)

		
	Aetna Inc.	  	Premiums of Group Insurance Segment
		
	Assurant, Inc.	  	Employee Benefits Segment - Net earned premiums and other considerations of the Group disability single premiums for closed blocks, All other group disability premiums, and Group
life product lines
		
	CIGNA Corporation	  	Disability and Life Segment – Premiums and fees of the Life and Disability product lines
		
	Delphi Financial Group, Inc.	  	Group Employee Benefit Products Segment – Premiums of the Disability and Life product lines
		
	The Hartford Financial Services Group, Inc.	  	Group Benefits Segment – Premiums of the Group Disability and Group Life product lines
		
	Lincoln National Corporation	  	Group Protection Segment – Insurance Premiums of the Life and Disability product lines
		
	MetLife, Inc.	  	Insurance Products Segment – Premiums of the Group Life product line
		
	Principal Financial Group, Inc.	  	Life and Health Insurance Segment – Specialty Benefits Insurance subsegment – Premiums and Fees of the Group life and Group disability product lines
		
	Prudential Financial, Inc.	  	Premiums and Policy charges and fee income of Group Insurance Segment
		
	Unum Group	  	Unum US Segment – Premiums of the Group Disability, Group Life and AD&D product lines

  

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 If prior to the end of the Performance Period, any Peer Group Company ceases to be a public reporting
company for any reason, or if it ceases to report premium revenues for the segment or product lines listed in the above table, then such company shall not be considered a Peer Group Company and Peer Group Premium Growth shall be calculated based on
the remaining Peer Group Companies; provided, however, that if a Peer Group Company, or a Peer Group Company’s segment or product line(s) listed in the above table, is acquired by another Peer Group Company during the Performance Period, then
such Peer Group Company shall continue to be considered a Peer Group Company for purposes of calculating the total              revenues of the applicable segments or product line(s)
of the Peer Group Companies. In addition, if prior to the end of the Performance Period, any Peer Group Company acquires (including an acquisition by reinsurance) any of the companies listed in the following table, or the group life and disability
product lines of any of those companies, then such company shall not be considered a Peer Group Company and Peer Group Premium Growth shall be calculated based on the remaining Peer Group Companies. 
  

					
	 Guardian Life of America
	 	Mutual of Omaha	 	Liberty Mutual
	 ING Employee Benefits
	 	AIG Benefit Solutions	 	New York Life
	 Minnesota Life
	 	WellPoint Life & Disability	 	Fort Dearborn Life
	 United Healthcare Specialty Benefits
	 	OneAmerica (AUL)	 	Liberty Life of Boston

 2.5 If the Company
implements a change in accounting principle during the Performance Period, either as a result of the issuance of new accounting standards or otherwise, and the effect of the accounting change was not reflected in the Company’s business plan at
the time of approval of this award, then Average ROE shall be adjusted to eliminate the impact of the change in accounting principle. 
 3. Employment Condition. 
 3.1 In order to receive the full number of Performance Shares determined under
Section 2, the Employee must not have a Termination of Employment (as defined below) prior to the last day of the Performance Period (the “Vesting Date”). 
 3.2 If the Employee has a Termination of Employment prior to the Vesting Date as a result of Total Disability, Death or Retirement as such terms are defined in Sections 6.1-4(b), 6.1-4(c) and 6.1-4(f),
respectively, of the Plan, the Employee or beneficiary shall be entitled to receive an award payout following the completion of the Performance Period as determined under this Agreement based on a reduced Maximum Share Amount. The Maximum Share
Amount following Total Disability, Death or Retirement of the Employee shall be determined by multiplying the Maximum Share Amount before such event by a fraction, the numerator of which is the number of days in the period starting on the first day
of the Performance Period and ending on the date of the Employee’s Termination of Employment and the denominator of which is the number of days in the Performance Period. 
 3.3 If the Employee has a Termination of Employment prior to the Vesting Date, other than by reason of Total Disability, Death or
Retirement, the Employee shall forfeit all rights to receive any Performance Shares. 
  

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 3.4 A “Termination of Employment” shall be deemed to occur on the date on which
the Employee ceases to be employed on a continuous full time basis by the Company or a subsidiary of the Company for any reason or no reason, with or without cause. The Employee shall not be treated as having a Termination of Employment during the
time the Employee is receiving long term disability benefits provided by the Company or a subsidiary of the Company, unless the Employee has received formal written notice of termination. 
 4. Certification and Payment. As soon as practicable following the release of earnings by the Company and the Peer Group Companies
for the last year of the Performance Period, the Company shall calculate the Payout Factor and the corresponding number of Performance Shares issuable to the Employee based on the Payout Factor, and shall submit these calculations to the Committee.
Notwithstanding anything to the contrary in this Agreement, the Committee may, in its sole discretion, reduce by up to 50% the calculated numbers of Performance Shares to be issued based on circumstances relating to the performance of the Company or
the Employee. No later than the March 15 immediately following the Vesting Date the Committee shall certify in writing (which may consist of approved minutes of a Committee meeting) the levels of Comparative TSR, Average ROE and Comparative
Premium Growth attained by the Company for the Performance Period, and the number of Performance Shares issuable to the Employee based on those performance levels. Subject to applicable tax withholding, the number of Performance Shares so certified
shall be issued to the Employee as soon as practicable following such certification, but no Performance Shares shall be issued prior to certification. No fractional shares shall be issued and the number of Performance Shares deliverable shall be
rounded to the nearest whole share. 
 5. Tax Withholding. The Employee acknowledges that, on the date the Performance
Shares are issued to the Employee (the “Payment Date”), the Value (as defined below) on that date of the Performance Shares will be treated as ordinary compensation income for federal and state income and FICA tax purposes, and that the
Company will be required to withhold taxes on these income amounts. To satisfy the required minimum withholding amount, the Company shall withhold the number of Performance Shares having a Value equal to the minimum withholding amount. For purposes
of this Section 5, the “Value” of a Performance Share shall be equal to the closing market price for Common Stock on the last trading day preceding the Payment Date. 
 6. Change of Control. 
 6.1 Notwithstanding any other provision of this Agreement, if a Change of Control (as defined below) occurs before the Vesting Date and the Employee has not previously forfeited the Employee’s
Performance Shares under Section 3, the Company shall, within 5 business days thereafter and subject to applicable tax withholding as provided for in Section 5, issue to the Employee a number of Performance Shares determined by multiplying
70% of the Maximum Share Amount by a fraction, the numerator of which is the number of days in the period starting on the first day of the Performance Period and ending on the date of the Change in Control and the denominator of which is the number
of days in the Performance Period; provided, however, that if the Employee had a Termination of Employment due to Total

  

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Disability, Death or Retirement prior to the date of the Change in Control, the number of Performance Shares to be issued shall be equal to 70% of the Maximum Share Amount (as previously adjusted
under Section 3.2). Amounts delivered or paid under this Section 6 shall be in satisfaction of any and all obligations of the Company to issue Performance Shares under this Agreement. 
 6.2 For purposes of this Agreement, a Change of Control shall have occurred if: 
 (a) Any “Person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”) (other than the Company, any trustee or other fiduciary holding securities under an employee benefit plan of the Company, or any company owned, directly or indirectly, by the shareholders of the Company in substantially the
same proportions as their ownership of stock of the Company), is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of the
combined voting power of the Company’s then outstanding securities; 
 (b) The shareholders of the Company approve a
merger or other consolidation of the Company with any other company, other than (i) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving entity) 51% or more of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or
consolidation or (ii) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person acquires more than 30% of the combined voting power of the Company’s then outstanding
securities; 
 (c) The shareholders of the Company approve an agreement for the sale or disposition by the Company of all or
substantially all of its assets; 
 (d) A tender or exchange offer is made for Common Stock (or securities convertible into
Common Stock) and such offer results in a portion of those securities being purchased and the offeror after the consummation of the offer is the beneficial owner (as determined pursuant to Section 13(d) of the Exchange Act), directly or
indirectly, of securities representing at least 30% of the voting power of outstanding securities of the Company; 
 (e) During
any period of twelve months or less, individuals who at the beginning of such period constituted a majority of the Board cease for any reason to constitute a majority of the Board unless the nomination or election of such new directors was approved
by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period; or 
 (f) Any other event or combination of events occurs which the Board, acting in its sole discretion, determines to be a “Change of Control” for purposes of this Agreement. 
  

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 7. Mergers, Consolidations or Changes in Capital Structure. If, after the date of
this Agreement, the outstanding Common Stock is increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Company or of another corporation by reason of any reorganization, merger,
consolidation, plan of exchange, recapitalization, reclassification, stock split, combination of shares or dividend payable in shares, or in the event of any consolidation, merger or plan of exchange involving the Company pursuant to which the
Common Stock is converted into cash, securities or other consideration, then appropriate adjustment shall be made by the Committee in the number and kind of shares subject to this Agreement so that the Employee’s proportionate interest before
and after the occurrence of the event is maintained. 
 8. No Right to Employment. Nothing in this Agreement or the Plan
shall (i) confer upon the Employee any right to be continued in the employment of the Employee’s employer or interfere in any way with the right of such employer to terminate the Employee’s employment at any time, for any reason or no
reason, with or without cause, or to decrease the Employee’s compensation or benefits, or (ii) confer upon the Employee any right to the continuation, extension, renewal, or modification of any compensation, contract or arrangement with or
by the Company or any subsidiary of the Company. 
 9. Approval. The obligations of the Company under this Agreement and
the Plan are subject to the approval of state, federal or foreign authorities or agencies with jurisdiction in the matter. The Company will use its reasonable best efforts to take steps required by state, federal or foreign law or applicable
regulations, including rules and regulations of the Securities and Exchange Commission and any stock exchange on which the Company’s shares may then be listed, in connection with the grant evidenced by this Agreement. The foregoing
notwithstanding, the Company shall not be obligated to deliver the Performance Shares if such delivery would violate or result in a violation of applicable state or federal securities laws. 
 10. Miscellaneous. 
 10.1 Governing Law. This Agreement shall be governed by and construed under the laws of the State of Oregon, without regard to the choice of law principles applied in the courts of such state. 
 10.2 Severability. If any provision or provisions of this Agreement are found to be unenforceable, the remaining provisions shall
nevertheless be enforceable and shall be construed as if the unenforceable provisions were deleted. 
 10.3 Entire
Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral or written agreements between the Company and the Employee relating to the
subject matter hereof. 
 10.4 Amendment. This Agreement may be amended or modified only by written consent of the
Company and the Employee. 
  

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 10.5 Assignment. The Employee may not assign this Agreement or any rights hereunder
to any other party or parties without the prior written consent of the Company. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. 
  

			
	 STANCORP FINANCIAL GROUP, INC.

		
	 By:
	 	  

	
	 EMPLOYEE

	
	  

  

 8Note, dated January 24, 2010, among Ticketmaster Entertainment

 Exhibit 10.17 
 NOTE 
 January 24, 2010 

 WHEREAS, in connection with the Merger, Payee, Executive and Maker have agreed that Maker shall redeem any and all of
the Payee Preferred Stock and all accumulated and unpaid dividends thereon through the date of this Note for this Note. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, the parties hereto agree as follows: 
 1. (a) FOR VALUE RECEIVED, subject to satisfaction of the Continued Employment Requirement through each applicable Vesting Date, and subject to paragraphs (b) and (c) of this Section 1, on
the first day of each month commencing on February 1, 2010 through and including October 1, 2013 (each such date, a “Vesting Date”), this note (the “Note”) will vest with respect to the “Monthly
Installment Amount” corresponding to the applicable Vesting Date, each as set forth on Annex A to this Note and Maker shall pay to the order of Payee, on the applicable Vesting Date (or, if the applicable Vesting Date is not a Business
Day, on the first Business Day thereafter), the “Monthly Installment Amount” corresponding to the applicable Vesting Date, each as set forth on Annex A to this Note. 
 (b) Notwithstanding anything to the contrary in this Note, upon a Qualifying Termination or an Event of Default on or prior to
October 1, 2013, the Payout Amount immediately shall vest and Maker shall pay the Payout Amount in a lump sum (i) in the event of a Qualifying Termination, within five Business Days of Executive’s Qualifying Termination, or
(ii) in the event of an Event of Default, within five Business Days of the Event of Default. Payment of the Payout Amount pursuant to this Section 1(b) shall satisfy fully Maker’s obligations under this Note and this Note shall be
cancelled upon payment of the Payout Amount pursuant to this Section 1(b). For the avoidance of doubt, in the event that a Qualifying Termination or Event of Default occurs on a Vesting Date, Payee shall not be entitled to the “Monthly
Installment Amount” corresponding to such Vesting Date, each as set forth on Annex A to this Note. 
 (c)
Notwithstanding anything to the contrary in this Note, upon any termination of Executive’s employment with Live Nation by Live Nation for Cause or by Executive without Good Reason, Executive and Payee immediately shall forfeit this Note, this
Note immediately shall be cancelled and Executive and Payee immediately shall forfeit any then unpaid “Monthly Installment Amount” and “Unpaid Amount,” each as set forth on Annex A to this Note. For purposes of this
Section 1(c), “Cause” and “Good Reason” shall have the meanings set forth in Exhibit B to the Live Nation Employment Agreement. 
 (d) Any payments due under this Note shall be made by wire transfer to such bank account of Payee as Payee may from time to time designate, in lawful money of the United States of America in same day
funds. 
 2. Certain Definitions. As used herein, the following terms have the following meanings: 
 (a) “Business Day” shall mean any day other than Saturday, Sunday or other day on which commercial banks in the State of New
York are authorized or required by law or executive order to remain closed. 
 (b) “Continued Employment
Requirement” means Executive’s continued employment with Live Nation as a senior executive officer of Live Nation or as a senior executive officer of FLMG. 
 (c) “Event of Default” means (i) the first date on which the Monthly Installment Amounts corresponding to at least two Vesting Dates that have elapsed remain unpaid in full
(i.e., not fully paid) (such unpaid amounts, “Default Amounts”); or (ii) Maker has instituted or consented to the institution of any proceeding under the United States Bankruptcy Code or under any other bankruptcy,
reorganization or insolvency law or other law for the relief

 
of debtors and affecting the rights of creditors generally from time to time in effect, or any such proceeding is instituted without the consent of Maker and such proceeding continues undismissed
or unstayed for sixty (60) calendar days, or an order for relief is entered in any such proceeding; or (iii) Maker has applied for or consented to the appointment of a receiver, trustee, intervenor, custodian or liquidator of it or all or
a substantial part of its assets; or (iv) Maker has made a general assignment for the benefit of creditors; or (v) Maker has a receiver, trustee, intervenor, custodian or liquidator appointed in an involuntary proceeding for it or all or a
substantial part of its assets and such proceeding continues undismissed or unstayed for sixty (60) calendar days, or an order for relief is entered in any such proceeding. 
 (d) “Executive” means Irving Azoff. 
 (e) “FLMG” means Front Line Management Group, Inc., a Delaware corporation. 
 (f) “Live Nation” means Live Nation, Inc., a Delaware corporation. 
 (g) “Live Nation Employment Agreement” means that certain Employment Agreement, dated as of October 21, 2009, by and among Executive, Maker, Payee and, following the Merger, Live Nation, as it may be amended from time
to time. 
 (h) “Maker” means Ticketmaster Entertainment, Inc., a Delaware corporation. 
 (i) “Merger” has the meaning given such term in the Agreement and Plan of Merger, dated as of February 10, 2009, among
Maker, Live Nation and, from and after its accession to such agreement, a Delaware limited liability company to be formed by Live Nation, pursuant to which following such Merger Maker shall become a wholly-owned subsidiary of Live Nation.

 (j) “Payee” means the Azoff Family Trust of 1997, dated May 27, 1997, as amended. 
 (k) “Payee Preferred Stock” means the 1,750,000 shares of restricted Series A Preferred granted to Payee on
October 29, 2008. 
 (l) “Payout Amount” means an amount equal to the “Unpaid Amount”
corresponding to the Vesting Date (each as set forth on Annex A to this Note) immediately preceding the date of the Qualifying Termination or Event of Default (as applicable) (provided, that, with respect to an Event of Default, such amount
will also include any Default Amounts), plus accrued interest on such amount from such Vesting Date to the payment date, payable at a rate of 3% per annum computed on the basis of a 365 day year and paid for the actual number of days elapsed
(including the first day but excluding the last day). 
 (m) “Qualifying Termination” means a Termination of
Executive’s Employment with Live Nation by Live Nation without Cause or by Executive for Good Reason or due to death or Disability. For purposes of this Section 2(m), “Cause,” “Good Reason,” “Disability” and
“Termination of Executive’s Employment” shall have the meanings set forth in Exhibit B to the Live Nation Employment Agreement. 
 (n) “Series A Preferred Stock” means series A convertible preferred stock, $0.01 par value per share, of Maker. 
 3. Certain Transactions. If (a) all of the outstanding shares of common stock, par value $0.01 per share, of Live Nation are
converted into cash (pursuant to a sale transaction or otherwise) and (b) this Note remains outstanding, Maker will cause to be placed in trust or escrow for the benefit of Payee an amount in cash or government securities adequate to make
payment to Payee of any then remaining Monthly Installment Amounts when due in accordance with the terms and subject to the conditions of this Note. 
 4. Representations and Warranties. Maker represents and warrants to Payee that: 
 (a) Maker is a duly organized and validly existing corporation, in good standing under the laws of its jurisdiction of organization; 
  

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 (b) the execution, delivery and performance by Maker of this Note does not contravene, or
constitute a default under, any provision of applicable law or regulation or the organizational documents of Maker or of any agreement, judgment, order or other instrument binding on Maker and will not result in the creation or imposition of any
lien on any asset of Maker; and 
 (c) the execution, delivery and performance by Maker of this Note has been duly authorized by
all required corporate action and this Note is a legal, valid and binding obligation of Maker, enforceable in accordance with its terms. 
 5. Assignments; Restrictions on Transfer. This Note shall be binding upon Maker and its successors and assigns and is for the benefit of Payee and its successors and assigns, except that, other
than by operation of law (including pursuant to the Merger), Maker may not assign or otherwise transfer its rights or obligations under this Note without Payee’s prior written consent. No sale, offer, assignment, transfer, pledge,
hypothecation, encumbrance or other disposition, whether by merger, operation of law or otherwise, of this Note or any interest therein by Payee shall be permitted. 
 6. Certain Tax Matters. Maker, Executive and Payee agree to treat, for federal income tax purposes, this Note as an unfunded, unsecured promise to pay. Maker shall deduct and withhold from any
payment under this Note, any federal, state, local or foreign taxes required to be withheld with respect to the vesting of the Note or any payment made pursuant to the Note. 
 7. Miscellaneous. (a) Any waiver of any kind or character on the part of Payee in respect of this Note must be in writing and
shall be effective only to the extent specifically set forth in such writing and any notice to be given under this Note shall be in writing and shall be deemed to have been duly given when received by the recipient. No delay on the part of Payee in
exercising any of its powers or rights, and no partial or single exercise, shall constitute a waiver thereof. 
 (b) Maker shall
have the right at any time (i) to incur, and to issue evidence of, indebtedness that is senior in right of payment to this Note and (ii) to subordinate this Note to any or all other indebtedness of Maker. Upon written notice by Maker to
Payee, this Note automatically and without the consent of or any other action by Payee shall become a subordinated obligation of Maker, subordinated in right of payment to all existing and future Senior Indebtedness of Maker, and thereafter, Maker
may not make, and Payee may not accept, any payments of principal or interest on the Note if there exists a payment default (whether for principal, premium, interest or fees) on any Senior Indebtedness, or if any other default exists with respect to
any Senior Indebtedness and the maturity of such Senior Indebtedness is as a result permitted to be accelerated by the holders thereof, unless, in either case, such default has been cured or waived by the holders of such Senior Indebtedness, or such
Senior Indebtedness has been paid in full in cash. “Senior Indebtedness” is all indebtedness of Maker (whether as a primary obligor or a guarantor) (including interest thereon, including interest accruing on or after the filing of
any petition in bankruptcy or reorganization at the rate provided in the documentation governing such indebtedness, whether or not a claim for such interest is allowed in such proceeding), and other amounts (including fees, expenses, reimbursement
obligations under letters of credit and indemnities) owing in respect thereof, whether outstanding on the date hereof, on the date of such notice, or thereafter incurred, unless the instrument creating or evidencing such indebtedness expressly
provides that such obligations are subordinated in right of payment to any other indebtedness. 
 (c) This Note supersedes the
letter, dated February 10, 2009, from Maker to Executive, which letter shall have no further force or effect after the date of this Note. Upon issuance by Maker to Payee of a fully executed version of this Note, Payee immediately and
irrevocably shall surrender and forfeit for immediate cancellation all Payee Preferred Stock and all accumulated and unpaid dividends thereon through the date of this Note. 
 8. GOVERNING LAW; JURISDICTION. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK,
WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS THEREOF. EACH OF MAKER AND PAYEE HEREBY

  

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SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND OF ANY NEW YORK STATE COURT SITTING IN NEW YORK CITY FOR PURPOSES OF ALL
LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS NOTE. EACH OF MAKER AND PAYEE IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT
IN SUCH COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH OF MAKER AND PAYEE HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS NOTE. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 -4- 

					
	TICKETMASTER ENTERTAINMENT, INC.
		
	By:	 	 /s/ Brian Regan

		 	 Name:
	 	Brian Regan
		 	 Title:
	 	Executive Vice President and Chief Financial Officer
	
	 Address for notices:
  
 Ticketmaster Entertainment, Inc.
 8800 Sunset
Boulevard
 West Hollywood, CA 90069
 Phone: (310) 360-3300
 Facsimile: (310) 360-3733
 Attention: General Counsel
  
 and
  
 Live Nation, Inc.
 9348 Civic Center Drive
 Beverly Hills, CA 90210

 Phone: (310) 867-7000
 Facsimile: (310) 867-7158
 Attention: General Counsel

	
	AZOFF FAMILY TRUST OF 1997
		
	By:	 	 /s/ Irving Azoff

		 	Name:	 	Irving Azoff
		 	Title:	 	Co-Trustee
	
	 Address for notices:
  
 At the most recent address on file for Executive at Live Nation.

  

	
	CONSENTED TO:
	
	 /s/ Irving Azoff

	Irving Azoff

 Annex A 
  

						
	 Vesting Date
	  	Monthly
Installment
Amount
($)	  	Unpaid
Amount
($)	 
		  		  	36,239,632.88
(12/31/2009	  
) 
			
	 2/1/2010
	  	1,669,937.96	  	34,749,032.16	  
	 3/1/2010
	  	834,968.98	  	34,000,935.77	  
	 4/1/2010
	  	834,968.98	  	33,250,969.13	  
	 5/1/2010
	  	834,968.98	  	32,499,127.57	  
	 6/1/2010
	  	834,968.98	  	31,745,406.41	  
	 7/1/2010
	  	834,968.98	  	30,989,800.96	  
	 8/1/2010
	  	834,968.98	  	30,232,306.48	  
	 9/1/2010
	  	834,968.98	  	29,472,918.27	  
	 10/1/2010
	  	834,968.98	  	28,711,631.60	  
	 11/1/2010
	  	834,968.98	  	27,948,441.70	  
	 12/1/2010
	  	834,968.98	  	27,183,343.82	  
	 1/1/2011
	  	834,968.98	  	26,416,333.21	  
	 2/1/2011
	  	834,968.98	  	25,647,405.06	  
	 3/1/2011
	  	834,968.98	  	24,876,554.59	  
	 4/1/2011
	  	834,968.98	  	24,103,777.00	  
	 5/1/2011
	  	834,968.98	  	23,329,067.47	  
	 6/1/2011
	  	834,968.98	  	22,552,421.16	  
	 7/1/2011
	  	834,968.98	  	21,773,833.23	  
	 8/1/2011
	  	834,968.98	  	20,993,298.84	  
	 9/1/2011
	  	834,968.98	  	20,210,813.11	  
	 10/1/2011
	  	834,968.98	  	19,426,371.16	  
	 11/1/2011
	  	834,968.98	  	18,639,968.11	  
	 12/1/2011
	  	834,968.98	  	17,851,599.06	  
	 1/1/2012
	  	834,968.98	  	17,061,259.08	  
	 2/1/2012
	  	834,968.98	  	16,268,943.25	  
	 3/1/2012
	  	834,968.98	  	15,474,646.64	  
	 4/1/2012
	  	834,968.98	  	14,678,364.28	  
	 5/1/2012
	  	834,968.98	  	13,880,091.21	  
	 6/1/2012
	  	834,968.98	  	13,079,822.47	  
	 7/1/2012
	  	834,968.98	  	12,277,553.05	  
	 8/1/2012
	  	834,968.98	  	11,473,277.95	  
	 9/1/2012
	  	834,968.98	  	10,666,992.16	  
	 10/1/2012
	  	834,968.98	  	9,858,690.67	  

					
	 Vesting Date
	  	Monthly
Installment
Amount
($)	  	Unpaid
Amount
($)
	 11/1/2012
	  	834,968.98	  	9,048,368.42
	 12/1/2012
	  	834,968.98	  	8,236,020.36
	 1/1/2013
	  	834,968.98	  	7,421,641.44
	 2/1/2013
	  	834,968.98	  	6,605,226.56
	 3/1/2013
	  	834,968.98	  	5,786,770.65
	 4/1/2013
	  	834,968.98	  	4,966,268.60
	 5/1/2013
	  	834,968.98	  	4,143,715.30
	 6/1/2013
	  	834,968.98	  	3,319,105.61
	 7/1/2013
	  	834,968.98	  	2,492,434.39
	 8/1/2013
	  	834,968.98	  	1,663,696.51
	 9/1/2013
	  	834,968.98	  	832,886.77
	 10/1/2013
	  	834,968.98	  	0.01

  

 A-2

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