Document:

Form of Performance-based Restricted Stock Award Notice

 Exhibit 10.5 
 PROVIDENT NEW YORK BANCORP 
 2011 EMPLOYMENT INDUCEMENT STOCK PROGRAM 
 JACK L. KOPNISKY 

PERFORMANCE-BASED RESTRICTED STOCK AWARD
NOTICE 
  

			
	 Jack L. Kopnisky
	  	        -            -    
            
	Name of Award Recipient	  	Social Security Number

  
  

Street Address 
  

							
	  
	 		 	
                    
 
	  	

 This Performance-Based Restricted Stock Award Notice is intended to set forth the terms and conditions on which a
Performance-Based Restricted Stock Award has been granted under the Provident New York Bancorp 2011 Employment Inducement Stock Program. Set forth below are the specific terms and conditions applicable to this Restricted Stock Award. Attached as
Exhibit A are its general terms and conditions. 
  

							
	 Restricted Stock Award
	  	(A)	 	(B)	 	(C)
	 Effective Date
	  	07/06/2011	 	07/06/2011	 	07/06/2011
	 Class of Shares*
	  	Common	 	Common	 	Common
	 No. of Awarded Shares*
	  	3,940	 	3,940	 	3,940
	 Type of Award (Escrow or Legended Certificate)
	  	Escrow	 	Escrow	 	Escrow
	 Vesting Date*
	  	December 31, 2014	 	December 31, 2014	 	December 31, 2014
	 Performance Conditions*
	  	See Appendix B to
 exhibit
A
	 	See Appendix B to
 Exhibit
A
	 	See Appendix B to
Exhibit A

  

	*	Subject to adjustment as provided in the Plan and the General Terms and Conditions. 

 By signing where indicated below, Provident New York Bancorp (the “Company”) grants this Performance-Based Restricted Stock Award upon the specified terms and conditions, and the
Performance-Based Restricted Stock Award Recipient acknowledges receipt of this Performance-Based Restricted Stock Award Notice, including Exhibit A and Appendices A and B, and agrees to observe and be bound by the terms and conditions set forth
herein 
  

									
	PROVIDENT NEW YORK BANCORP	 		 	AWARD RECIPIENT
				
	By	 	 /s/ Daniel Rothstein
	 		 	 /s/ Jack L. Kopinsky

		 	Name:	 	Daniel Rothstein	 		 	Jack L. Kopinsky
		 	Title:	 	Executive Vice President	 		 	
		 		 	Regulatory Counsel & Chief Risk Officer	 		 	

  
  

Instructions: This page should be completed by or on behalf of the Compensation administrative committee. Any blank space intentionally left blank
should be crossed out. A Performance-Based Restricted Stock Award consists of shares granted with uniform terms and conditions. Where shares granted under a Performance-Based Restricted Stock Award are awarded on the same date with varying terms and
conditions (for example, varying vesting dates), the awards should be recorded as a series of grants each with its own uniform terms and conditions. 

 EXHIBIT A 

PROVIDENT NEW YORK BANCORP, INC 

2011 EMPLOYMENT INDUCEMENT STOCK PROGRAM STOCK
INCENTIVE PLAN 
 PERFORMANCE-BASED RESTRICTED
STOCK AWARD NOTICE FOR JACK L. KOPNISKY 
 General Terms and Conditions 
 Section 1. Size and
Type of Award. The shares of Common Stock of Provident New York Bancorp (“Shares”) covered by this Award (“Awarded Shares”) are listed on the Performance-Based Restricted Stock Award Notice. The Performance-Based
Restricted Stock Award Notice is subject to all of the terms and conditions of this Award Notice and the Provident Bancorp Inc. 2004 Stock incentive Plan (“Plan”) as if this Award were made under that Plan. 

Unless otherwise permitted by the administrative committee, your Awarded Shares will be designated “Escrow” and held in the
name of the administrative committee or of a trustee or custodian named by the administrative committee on a pooled basis with other Awarded Shares. If permitted by the administrative committee, you may elect to be taxed on shares that are
transferred to you in certificated form immediately upon their transfer to you instead of later when they vest. If you make this election, you will be required to include in ordinary income, for the taxable year in which the transfer of certificates
occurs, an amount equal to the fair market value of the shares on the transfer date. Provident New York Bancorp may be allowed to claim a tax deduction, for compensation expense, in a like amount. You make this election by filing a statement of
election containing specified items of information with the Internal Revenue Service within thirty days after the date of transfer of the shares to you. You must give a copy of the statement you file to Provident New York Bancorp and Provident Bank
If you make this election, your Awarded Shares will be designated “Legended Certificate.” A certificate evidencing the Awarded Shares will be issued to you and will include a restrictive legend incorporating the terms and conditions of
this Award Notice. If you make this election, the vesting of your awards will not subject you to further income tax. 
 Your
acceptance of employment with Provident New York Bancorp and Provident Bank, and your commencement of such employment, constitute adequate consideration for the issuance of the Awarded Shares to you having a value at least equal to the par value of
the Awarded Shares, but the vesting conditions described below will nevertheless determine your right to acquire unrestricted ownership of the Awarded Shares. 
 Section 2. Vesting. 
 (a) Vesting Dates.
The Vesting Dates for your Awarded Shares are specified on the Award Notice. On each Vesting Date, you will obtain unrestricted ownership of the Awarded Shares that vest on that Vesting Date. A stock certificate evidencing unrestricted
ownership will be transferred to you. 
 (b) Vesting
Conditions. There are conditions you must satisfy before your Performance-Based Restricted Stock Award will vest: 
 (i) You must remain in the continuous service of the Provident New York Bancorp and/or Provident Bank through the Vesting Date shown in this Performance-Based Restricted Stock Award Notice
(“Service Conditions”). 
 (ii) Any Performance Condition(s) specified in this Performance-Based
Restricted Stock Award Notice must be met as of the end of their respective Performance Measurement Period(s) as determined by the administrative committee on the basis of such evidence as it deems appropriate (“Performance Conditions”).

 As a general rule, if you have satisfied BOTH the Service Conditions and the Performance Conditions, your right to the Awarded Shares will be
nonforfeitable. 
 (c) Forfeitures. If you terminate service with the Company prior to a Vesting Date, you
will forfeit any Awarded Shares that are scheduled to vest on that date. If you remain in continuous service with Provident New York Bancorp and/or Provident Bank through the applicable Vesting Date but one or more of the applicable Performance
Conditions are not satisfied, you will forfeit any Awarded Shares the vesting of which depended on satisfaction of the unsatisfied Performance Condition(s). When you forfeit Awarded Shares, all of your interest in the Awarded Shares will be canceled
and any stock certificate or other evidence of ownership must be returned to the administrative committee or to the Company. You agree to take any action and execute and deliver any document that the Company requests to effect the return of your
unvested Awarded Shares. In the event you do not cooperate with the Company in this regard, you hereby appoint and designate the Company as your attorney-in-fact for the purpose of taking any action and signing any document, in your name, which the
Company determines is necessary to enforce the forfeiture. 
 (d) Accelerated Vesting. 

(i) In the event of your service terminates due to death or Disability (as defined in the Plan) or Retirement (as defined in the Plan),
then: 
 (A) any Performance Condition for which the Performance Measurement Period has not ended will be deemed
satisfied (or will be deemed achieved at target if more than one level of performance is provided for), and 

  
 Page 1 of 3

 (B) a pro-rated portion of the Awarded Shares for which the Performance
Conditions have or are deemed to have been satisfied, determined based on the ratio (not to exceed 1.00) of the number of days during the period beginning on Effective Date and ending on the date of termination to the number of days during the
period beginning on Effective Date and ending on the Vesting Date will vest on an accelerated basis as of the date of termination. 
 To qualify
for Retirement, you must, as of the termination date, have attained age 65, or attained age 55 and have at least 10 consecutive years of service, and, in either case, must enter into a retirement agreement with the Company in a form approved by the
administrative committee, within the administrative committee’s discretion, and under which the you agree, for a period of 2 years, to provide consulting services to the Company and Provident Bank (as specified in Section 2.35 of the Plan)
and to refrain from competing with or soliciting employees and customers of the Company and Provident Bank. 
 (ii) In the event
of your service terminates due to discharge without “Cause” or voluntary resignation with “Good Reason” (in each case as defined in the Employment Agreement among you, the Company and Provident Bank as in effect on the Effective
Date) within 18 months following a Change of Control (as defined in the Plan) then: 
 (A) any Performance
Condition for which the Performance Measurement Period has not ended will be deemed satisfied (or will be deemed achieved at target if more than one level of performance is provided for), and 

(B) a pro-rated portion of the Awarded Shares for which the Performance Conditions have or are deemed to have been
satisfied, determined based on the ratio (not to exceed 1.00) of the number of days during the period beginning on Effective Date and ending on the date of termination to the number of days during the period beginning on Effective Date and ending on
the Vesting Date, will vest on an accelerated basis sixty (600 days after termination or resignation, as applicable, if and to the extent all conditions of such accelerated vesting imposed under such Employment Agreement are satisfied . 

(e) Definition of Service. For purposes of determining the vesting of your Awarded Shares, you will be deemed to be
in the service of the Company for so long as you serve in any capacity as an employee, officer, non-employee director or consultant of the Company or Provident Bank. 
 (f) Application of Clawback Policy. Notwithstanding anything in the Restricted Stock Award Notice to the contrary, the Awarded Shares and any related dividends shall be subject to
adjustment and/or recovery, in whole or in part, following the date on which they become vested and payable if and to the extent (i) required by any applicable law, rule or regulation or (ii) provided under the terms of any clawback policy or
other policy of similar import adopted by the Company and in effect on the date the Awarded Shares or dividends, as applicable, become vested and payable. 
 Section 3. Dividends. Dividends or distributions paid on Awarded Shares, whether or not in cash, will not be paid to you currently. Instead, they will be vested, accumulated and
paid to you if, as and when the related Awarded Shares become vested and will be subject to the same Service Conditions and Performance Conditions as the Awarded Shares. 
 Section 4. Voting and Tender Rights. You will not have the right to vote, or direct the voting of, Awarded Shares, or the right to respond, or direct the response with respect to
Awarded Shares to any tender offer, exchange offer or other offer made to the holder of Shares, unless and until the applicable Service Conditions and Performance Conditions have been satisfied and ownership of record of the Awarded Shares has been
conveyed to you. 
 Section 5. Taxes. Where any person is entitled to receive Shares pursuant
to the Restricted Stock Award granted hereunder, the Company shall have the right to require such person to pay to the Company the amount of any tax which the Company is required to withhold with respect to such Shares, or, in lieu thereof, to
retain, or to sell without notice, a sufficient number of Shares to cover the amount required to be withheld. 

Section 6. Notices. Any communication required or permitted to be given under the Plan, including any notice,
direction, designation, comment, instruction, objection or waiver, shall be in writing and shall be deemed to have been given at such time as it is delivered personally or five (5) days after mailing if mailed, postage prepaid, by registered or
certified mail, return receipt requested, addressed to such party at the address listed below, or at such other address as one such party may by written notice specify to the other party: 

If to the Recipient, to the Recipient’s address as shown in the Company’s records. 

If to the administrative committee: 
 Provident New York Bancorp 
 c/o Provident Bank 

400 Rella Blvd. 

Montebello, New York 
 Attention: Corporate Secretary 

  
 Page 2 of 3

 Section 7. Restrictions on Transfer. The Restricted Stock Award granted
hereunder shall not be subject in any manner to anticipation, alienation or assignment, nor shall such award be liable for or subject to debts, contracts, liabilities, engagements or torts, nor shall it be transferable by the Recipient other than by
will or by the laws of descent and distribution or as otherwise permitted by the Plan. To name a Beneficiary, complete the attached Appendix A and file it with the Corporate Secretary of Provident New York Bancorp. 

Section 8. Successors and Assigns. This Agreement shall inure to the benefit of and shall be binding upon
the Company and the Recipient and their respective heirs, successors and assigns. 
 Section 9.
Construction of Language. Whenever appropriate in the Agreement, words used in the singular may be read in the plural, words used in the plural may be read in the singular, and words importing the masculine gender may be
read as referring equally to the feminine or the neuter. Any reference to a section shall be a reference to a section of this Notice, unless the context clearly indicates otherwise. Capitalized terms not specifically defined herein shall have the
meanings assigned to them under the Plan. 
 Section 10. Governing Law. This Notice shall be
construed, administered and enforced according to the laws of the State of New York without giving effect to the conflict of laws principles thereof, except to the extent that such laws are preempted by the federal law. The federal and state courts
having jurisdiction in Rockland County, New York shall have exclusive jurisdiction over any claim, action, complaint or lawsuit brought under the terms of the Plan. By accepting any Award granted under this Notice, the Recipient, and any other
person claiming any rights under the Notice, agrees to submit himself, and any such legal action as he shall bring under the Plan, to the sole jurisdiction of such courts for the adjudication and resolution of any such disputes. 

Section 11. Amendment. This Award may be amended, in whole or in part and in any manner not inconsistent with
the provisions of the Plan, at any time and from time to time, by written agreement between the Company and the Recipient. This Award amends and supersedes any Performance-Based Restricted Stock Award Notice bearing the same effective date.

 Section 12. Plan Provisions Control. This Award and the rights and obligations created hereunder
shall be subject to all of the terms and conditions of the Plan that would apply if this Award were being made under the Plan In the event of any conflict between the provisions of the Plan and the provisions of this Notice, the terms of the Plan,
which are incorporated herein by reference, shall control. By signing this Agreement, the Recipient acknowledges receipt of a copy of the Plan. The Recipient acknowledges that he or she may not and will not rely on any statement of account or other
communication or document issued in connection with the Award other than the Plan, this Notice, or any document signed by an authorized representative of the Company that is designated as an amendment of the Plan or this Notice. 

  
 Page 3 of 3

 APPENDIX A TO
PERFORMANCE-BASED RESTRICTED STOCK AWARD NOTICE 
 Beneficiary Designation Form - Performance-Based Restricted Stock 
  

													
	 GENERAL

INFORMATION
	 	Use this form to designate the Beneficiary(ies) who may receive
Performance-Based Restricted Stock Awards that become vested at your death.
	 		 
	 Name of Person
 Making Designation
	 	  
	  	Social Security Number        
     –        –                
	 	 
	 BENEFICIARY
 DESIGNATION
	 	Complete sections A and B. If no percentage shares are specified, each Beneficiary in the same class
(primary or contingent) shall have an equal share. If any designated Beneficiary predeceases you, the shares of each remaining Beneficiary in the same class (primary or contingent) shall be increased proportionately.
	 
	A  PRIMARY BENEFICIARY(IES). I hereby
designate the following person as my primary Beneficiary under the Plan, reserving the right to change or revoke this designation at any time prior to my death:
	 				 
	Name	  	Address	  	Relationship	  	Birthdate	  	Share
	  
	  	  
	  	                            
	  	                            
	  	                   
         %
	 	  	  
	  		  		  	
	  
	  	  
	  	                            
	  	                            
	  	                   
         %
	 	  	  
	  		  		  	 
	  
	  	  
	  	                            
	  	                            
	  	 
	 	  	  
	  		  		  	                   
         %
	 	  		  		  		  	   Total    =    100%
	 
	
B  CONTINGENT BENEFICIARY(IES). I hereby designate the following person(s) as my contingent Beneficiary(ies) under the Plan to receive
benefits only if all of my primary Beneficiaries should predecease me, reserving the right to change or revoke this designation at any time prior to my death as to all outstanding Options:

 

	 				 
	Name	  	Address	  	Relationship	  	Birthdate	  	Share
	  
	  	  
	  	                            
	  	                            
	  	                   
         %
	 	  	  
	  		  		  	
	  
	  	  
	  	                            
	  	                            
	  	                   
         %
	 	  	  
	  		  		  	 
	  
	  	  
	  	                            
	  	                            
	  	 
	 	  	  
	  		  		  	                   
         %
	 	  		  		  		  	   Total    =    100%
	 	 
	

	 	I understand that this Beneficiary Designation shall be effective only if properly completed and received by
the Corporate Secretary of Provident New York Bancorp prior to my death, and that it is subject to all of the terms and conditions of the Plan. I also understand that an effective Beneficiary designation revokes my prior designation(s) with respect
to all outstanding Restricted Stock Awards 
	 		  		  		  		  		  	 
	 	  
	  	  

	 	Your Signature	  	Date
	 	 	 	  	 

 ------------------------------------------------------------------  Internal Use
Only  ----------------------------------------------------------- 
  

											
	This Beneficiary Designation was received by the Corporate Secretary of Provident
New York Bancorp on the date indicated.	 	 	  	Comments
	 					 
	By	 	  
	 		 	  
	 		  	 
	 	 	 Authorized Signature
	 		 	 Date
	 		  	 
	 	 	 	 	 	 	 	 	 	  	 

 APPENDIX B TO
PERFORMANCE-BASED RESTRICTED STOCK AWARD NOTICE 
 Performance Vesting Conditions 
 [To be supplied]FORM OF 2011 AOL INC. ANNUAL BONUS PLAN

 Exhibit 10.2 
 AOL Inc. Annual Bonus Plan 
 2011 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	1

	1.	Objective 

 The success of AOL Inc., along
with its subsidiaries and affiliates (together the “Company”), is to a great extent dependent on the caliber of its employees. The AOL Inc. Annual Bonus Plan (the “ABP”) is a critical tool in rewarding outstanding
Company performance, individual performance and behaviors that contribute to the achievement of corporate objectives. 
 The ABP provides
participating employees (other than employees whose participation is governed by the AOL Inc. Annual Incentive Plan for Executive Officers (the “Executive AIP”) and Section 6 herein) with the opportunity to receive cash
incentives based on the financial and operational performance of the Company as well as their own individual performance. 
 The guidelines
provided in this document are applicable to all ABP eligible employees regardless of location. As appropriate, due to local country laws or regulations, certain guidelines, processes or calculations may be modified, including, but not limited to, as
provided for in an applicable country-specific annex to the ABP. For guidance on the application of the ABP within your particular country, please contact your HR representative. 

 

	2.	Eligibility 

 Employees of the Company
with job grades A through J are eligible to participate in the ABP, subject to the terms of the ABP and the following conditions (each such employee, a “Participant”). 

 

	a.	Employees must be scheduled to work a minimum of 25 hours or more per week to be eligible to participate. 

 

	b.	Employees eligible to participate in any other Company cash incentive plan, including but not limited to sales incentive plans and bonus plans (e.g., the Patch Bonus
Plan, the AOL Labs Incentive Bonus Plan, etc.) are not eligible to participate in the ABP. 

  

	c.	 New employees who are hired during the 4th quarter of a plan year (October 1st – December 31st or “Q4”) are eligible for a prorated bonus in respect of the time period during which they were
employed during such plan year (the “Pro Rata Bonus”); provided that such employee (i) did not receive a signing bonus in connection with his or her hire and (ii) remains employed by the Company on the payment date for the
bonus for the plan year immediately following the Q4 that includes such employee’s date of hire (e.g., if the employee is hired on October 31, 2011, the employee must be employed on the applicable date before March 15, 2013 on
which the 2011 bonus is paid). The Pro Rata Bonus will be prorated daily for the period of the year of hire in which the employee worked in an ABP eligible position. The Pro Rata Bonus will be paid at the same time and, except as described above,
subject to the same conditions, as the bonus for the immediately following plan year. 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	2

	d.	Certain individuals, including, but not limited to, interns, MBA interns, contractors, bloggers and temporary workers, who are not considered employees of the Company
are not eligible to participate in the ABP, unless required by local or regional law. This list is not intended to be all inclusive and may be updated without prior notice. Additionally, any individual who is a signatory to any contract, letter
agreement, or other document that acknowledges his or her status as an independent contractor or who is not otherwise classified by the Company for federal payroll tax purposes as a common law employee is not eligible to participate in the ABP, even
if such individual is later determined to be a common law employee. 

  

	e.	The eligibility of a Participant who is a participant in the Executive AIP will be determined pursuant to Section 6 of the Executive AIP. 

 

	3.	Target Incentive 

 The ABP target
incentive for Participants in job grades A through J is reflected as a percentage of such Participant’s annual base salary. If a Participant in grades A through J is a participant in the Executive AIP, then the applicable ABP target incentive
for such Participant will be a component in the criteria used by the Committee (as defined in the Executive AIP) (the “Committee”) to apply negative discretion in determining the actual annual incentive payable to such Participant pursuant
to the terms of the Executive AIP. No annual incentive payment will be made to a participant in the Executive AIP unless and until the performance goal specified in Section 3.2 of the Executive AIP is achieved. 

Actual annual incentive payouts, if granted, will be calculated based on a Participant’s actual annual base salary for the plan year in accordance
with the administrative guidelines of the ABP. 
  

	4.	Performance Measures & Weighting 

ABP target incentive payouts are calculated based on the following factors: 

 

	a.	For Participants who are the Chief Executive Officer (“CEO”), the Chief Financial and Administrative Officer (“CFAO”) or an Executive Vice-President
(“EVP”), the Company’s financial and operational performance is weighted at 75%. 

  

	b.	For Participants who are Senior Vice Presidents (each, an “SVP”) and below, the Company’s financial and operational performance is weighted at 50%.

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	3

	c.	For Participants who are the CEO, CFAO or an EVP, individual performance, as measured against approved performance measures, is weighted at 25%.

  

	d.	For Participants who are SVPs and below, individual performance as measured by a Participant’s overall rating in his or her annual performance review is weighted
at 50%. Participants are rated on a performance scale against pre-determined individualized goals and may also be calibrated against other ratings within the EVP’s organization. Participants in the bottom 10th percentile of eligible employees
will not be eligible for a bonus. 

  

	e.	Participants in some countries outside the United States are rated on a performance scale against pre-determined individualized goals and may also be rated against
Company-wide performance standards. 

  

	f.	With respect to a Participant who is a participant in the Executive AIP, the foregoing performance measures may be used by the Committee to apply negative discretion to
determine the actual bonus payable to such Participant (as set forth in Section 3.4 of the Executive AIP); provided, however, that the Company has satisfied the performance goal specified in Section 3.2 of the Executive AIP.

  

	5.	Funding 

 The Company’s total ABP
funding is based on the Company’s operating income before depreciation and amortization (“OIBDA”), excluding certain non-recurring items, and cash provided by continuing operations, less capital expenditures, principal payments on
capital leases and product development costs (“Free Cash Flow”) achievement levels. The OIBDA performance metric will exclude the impact of: (a) noncash impairments of goodwill; intangible and fixed assets and investments;
(b) gains and losses on sales of operating assets and investments; (c) noncash equity-based compensation, (d) external expensed transaction costs and the direct impact on the Company’s OIBDA and Free Cash Flow related to
mergers, acquisitions, investments or dispositions, as well as costs related to retention agreements and contingent consideration related to such transactions; (e) amounts related to securities litigation, government investigations, natural
disasters and terrorism; (f) restructuring charges or reductions in restructuring charges greater than $3 million; (g) reserves larger than $3 million established in connection with litigation, fraud investigations, tax audits and similar
governmental proceedings; (h) recoveries greater than $3 million in litigation and similar proceedings; (i) gains or losses recognized from the forgiveness of debt; (j) the impact of current year changes to accounting standards and
tax laws; (k) gains or losses related to the recognition of cumulative foreign currency translation adjustments; (l) any other extraordinary item under GAAP and (m) the impact of taxes on the items described in (a) through
(l) (such adjusted performance metric, “Adjusted OIBDA”). The Adjusted OIBDA and Free Cash Flow goals are determined at the beginning of each plan year by the Company, and are approved by the Committee. 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	4

 The ABP funding levels at various levels of the Company’s achievement are determined at the beginning
of each plan year. 
 In general, both the Adjusted OIBDA and Free Cash Flow metrics must meet the minimum threshold associated with a targeted
funding level in order for Participants to be eligible for a bonus payable at the targeted funding level. There is no guarantee of payout if the threshold is not met. Of the Company performance metrics, weight will be given to Adjusted OIBDA and
Free Cash Flow as follows: Adjusted OIBDA – 70%; Free Cash Flow – 30%. 
 Generally, final ABP funding is at the discretion of the
CEO; however, final ABP funding as to the CEO, the CFAO and any employee subject to the Committee’s purview is also subject to approval of the Committee. 
  

	6.	Participation In The Executive AIP 

 This
Section 6 will apply only to those Participants who are also participants in the Executive AIP, which determination will be made by the Committee. Only with respect to annual incentives payable to such Participants should the ABP be considered
a sub-plan of the Executive AIP. The eligibility of such Participants will be determined pursuant to Section 5 of the Executive AIP and the performance goals for such Participants will be determined pursuant to Section 3 of the Executive
AIP. In addition, this sub-plan for Participants who are participants in the Executive AIP will be administered in accordance with Section 4 of the Executive AIP. The method, timing and/or form of any annual incentive payouts to such
Participants will be as set forth in the Executive AIP. Once the Committee determines in writing that performance goals have been achieved (pursuant to Section 3 of the Executive AIP), the Committee may use negative discretion to finalize the
annual incentive payouts to such Participants, pursuant to the guidelines established under the ABP. Any capitalized terms used in this section (and throughout the ABP with respect to a Participant who is a participant in the Executive AIP) but not
otherwise defined herein, in connection with determining the annual incentive payouts for such Participant only, will have the meaning set forth in the Executive AIP. In the event of a conflict between any term or provision contained in the ABP and
a term or provision of the Executive AIP, with respect to a Participant who is a participant in the Executive AIP, the terms and provisions of the Executive AIP will govern and prevail. 

 

	7.	Administrative Guidelines 

  

	a.	The ABP is an annual bonus plan based on Company and individual performance from January 1, 2011 through December 31, 2011 (the “plan year”).

  

	b.	 Any payouts with respect to a plan year will be distributed once a year, between
January 1st and no later than March 15th of the year immediately following the end of such plan year.
Non-U.S.: Any payouts will be distributed once a year and no later than March 31, 2012. 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	5

	c.	Participants must be continuously employed by the Company on the date of payout in order to be eligible to receive a payout, unless otherwise required by local or
regional law (for example, where local or regional law requires that the date of the accrual of the bonus is the date through which the Participant must be continuously employed). 

 

	d.	Employees promoted or transferred into an ABP eligible position may participate in the ABP effective as of the first day they were employed in an ABP eligible position.
The ABP payment will be prorated daily based on the length of time such employee works in the ABP eligible position during the plan year. 

  

	e.	Participants transferring from an ABP eligible position to non-ABP eligible positions will be eligible to receive an ABP payout, prorated on a daily basis for the
portion of the plan year in which they were employed in an ABP eligible position, provided that the Company pays a bonus under the ABP to other Participants for that plan year. 

 

	f.	Participants who are promoted or transferred from one ABP level to another during the plan year will be eligible to receive an ABP payout, prorated on a daily basis
based on the length of time in each position during the year. 

  

	g.	Participants who receive monetary base salary increases during a plan year will be eligible to receive an ABP payout, prorated on a daily basis based on the length of
time such Participant earns base salary at each level during the year 

  

	h.	A bonus payable under the ABP may not exceed 200% of a Participant’s bonus target. 

 

	i.	In the event a Participant dies during the plan year, the Participant’s beneficiaries will receive a prorated ABP payout based on the number of days the
Participant spent in an ABP eligible position during such plan year. In addition, if a Participant dies after the end of the plan year, but before payout, the Participant’s beneficiaries will receive the full ABP payout, at target levels, if an
ABP payout is approved for such plan year. 

  

	j.	There is no guaranteed ABP payout. 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	6

	8.	Miscellaneous 

  

	a.	Participation in the ABP does not constitute a contract of employment or a contractual agreement for payout, and does not guarantee employment for any duration of time.
All elements of the ABP are at the discretion of the Company. The ABP should not be considered to be a part of a Participant’s annual compensation, unless otherwise required by local or regional law. The Company reserves the right to modify,
revoke, suspend, terminate, or disregard all plan practices, policies or procedures, in whole or in part, published or unpublished, at any time, with or without notice, unless otherwise required by local or regional law. 

 

	b.	Subject to Committee approval when required, and unless otherwise required by local or regional law, the Company reserves the right to exercise discretion in
calculating the ABP payout, and in setting or adjusting any values or factors used in the calculation of the ABP payout. Such discretion for Participants who are either participants in the Executive AIP and/or whose compensation must be reviewed and
approved by the Committee resides solely with the Committee. 

  

	c.	In the event of any inconsistency or conflict between the provisions of any other communications and the terms of this plan document, the terms outlined in this plan
document will prevail. 

  

	d.	Participants will not have the right to assign, pledge, or otherwise transfer any payments to which they may be entitled under the ABP. 

 

	e.	The Company reserves the right to deduct any moneys owed to the Company by a Participant from any payout under the ABP prior to distribution, unless local or regional
laws require otherwise. 

  

	f.	The Company will be entitled to withhold from any payment due to a Participant any and all applicable income and employment taxes. 

 

	g.	The ABP is intended to be exempt from Internal Revenue Code Section 409A. 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	7

 Annex: Canada 
 To the extent that the provisions of the ABP are inconsistent with this Annex, the provisions of this Annex will apply: 
  

	7.	Administrative Guidelines 

  

	h.	Participants on an approved leave of absence are eligible for a prorated ABP payout for the time period during the applicable plan year that they were scheduled to work
25 or more hours/week. Participants are eligible for payment only upon a return to work. If a Participant does not return from a leave of absence, the individual will not receive a bonus payment. 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	1

 Annex: Denmark 
 To the extent that the provisions of the ABP are inconsistent with this Annex, the provisions of this Annex will apply: 
  

	2.	Eligibility 

  

	a.	Employees must be scheduled to work a minimum of 25 hours of more per week to be eligible to participate, unless otherwise required by local or regional law.

  

	d.	Certain individuals, including, but not limited to, interns, MBA interns, contractors, bloggers and temporary workers, who are not considered employees of the Company
are not eligible to participate in the ABP. This list is not intended to be all inclusive and may be updated without prior notice. 

  

	4.	Performance Measures & Weighting 

  

	e.	Participants are rated on a performance scale against pre-determined individualized goals and may also be rated against Company-wide performance standards.

  

	7.	Administrative Guidelines 

  

	c.	Participants must be continuously employed by the Company on the date of payout in order to be eligible to receive a payout, unless otherwise required by local or
regional law. 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	1

 Annex: India 
 To the extent that the provisions of the ABP are inconsistent with this Annex, the provisions of this Annex will apply: 
  

	7.	Administrative Guidelines 

  

	h.	Participants on an approved leave of absence without pay (Loss of Pay leave) are eligible for an ABP payout only for the prorated time period when they were either at
work or on approved leave of absence with pay during the applicable plan year. Such Participants are eligible for payment only upon return to work. If a Participant does not return from a leave of absence without pay, the individual will not receive
a bonus payment. 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	1

 Annex: Israel 
 To the extent that the provisions of the ABP are inconsistent with this Annex, the provisions of this Annex will apply: 
  

	4.	Performance Measures & Weighting 

  

	e.	Participants are rated on a performance scale against pre-determined individualized goals and may also be rated against Company-wide performance standards.

  

	7.	Administrative Guidelines 

  

	c.	Participants must be continuously employed by the Company on the date of payout in order to be eligible to receive a payout, unless otherwise required by local or
regional law (for example, where local or regional law requires that the date of the accrual of the bonus is the date through which the Participant must be continuously employed). 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	1

 Annex: Japan 
 To the extent that the provisions of the ABP are inconsistent with this Annex, the provisions of this Annex will apply: 
  

	7.	Administrative Guidelines 

  

	c.	Participants on an approved leave of absence are eligible for a prorated ABP payout for the time period during the applicable plan year that they were scheduled to work
25 or more hours/week. Participants are eligible for payment only upon a return to work. If a Participant does not return from a leave of absence, the individual will not receive a bonus payment. 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	1

 Annex: France 
 To the extent that the provisions of the ABP are inconsistent with this Annex, the provisions of this Annex will apply: 
  

	2.	Eligibility 

  

	a.	Employees must be scheduled to work a minimum of 25 hours of more per week to be eligible to participate, unless otherwise required by local or regional law.

  

	c.	 New employees who are hired during the 4th quarter of a plan year (October 1st – December 31st or “Q4”) are eligible for a prorated bonus in respect of the time period during which they were
employed during such plan year (the “Pro Rata Bonus”); provided that such employee (i) did not receive a signing bonus in connection with his or her hire and (ii) remains employed by the Company on the date of accrual of
the bonus, which shall be January 1st. The Pro Rata
Bonus will be prorated daily for the period of the year of hire in which the employee worked in an ABP eligible position. The Pro Rata Bonus will be paid at the same time and, except as described above, subject to the same conditions, as the bonus
for the immediately following plan year. 

  

	4.	Performance Measures & Weighting 

  

	e.	Participants are rated on a performance scale against pre-determined individualized goals and may also be rated against Company-wide performance standards.

  

	7.	Administrative Guidelines 

  

	c.	Participants must be continuously employed by the Company on the date of payout in order to be eligible to receive a payout, unless otherwise required by local or
regional law (for example, where local or regional law requires that the date of the accrual of the bonus is the date through which the Participant must be continuously employed). 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	1

 Annex: Sweden 
 To the extent that the provisions of the ABP are inconsistent with this Annex, the provisions of this Annex will apply: 
  

	4.	Performance Measures & Weighting 

  

	e.	Participants are rated on a performance scale against pre-determined individualized goals and may also be rated against Company-wide performance standards.

  

	7.	Administrative Guidelines 

  

	c.	Participants must be continuously employed by the Company on the date of payout in order to be eligible to receive a payout, unless otherwise required by local or
regional law (for example, where local or regional law requires that the date of the accrual of the bonus is the date through which the Participant must be continuously employed). 

 

	h.	ABP payout includes social security contributions and vacation pay, if applicable, and these amounts will be deducted from the gross ABP payout in addition to deduction
for income tax. 

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	1

 Annex: United Kingdom and Ireland 

To the extent that the provisions of the ABP are inconsistent with this Annex, the provisions of this Annex will apply: 

 

	2.	Eligibility 

  

	c.	New employees who are hired during the year will be eligible to participate in the ABP beginning on their first day of employment or when they transfer into an eligible
position. In addition, employees on a fixed term contracts are eligible to participate provided they meet the conditions for payment as set out in these guidelines on the date of payout. If the employee commences employment part way through the plan
year or works on a part-time basis then any bonus payout to which they may be eligible shall be prorated as appropriate. 

  

	4.	Performance Measures & Weighting 

  

	e.	Participants are rated on a performance scale against pre-determined individualized goals and may also be rated against Company-wide performance standards.

  

	7.	Administrative Guidelines 

  

	c.	Participants must be continuously employed by the Company on the date of payout in order to be eligible to receive a payout, unless otherwise required by local or
regional law (for example, where local or regional law requires that the date of the accrual of the bonus is the date through which the Participant must be continuously employed). A Participant must also not be under a notice of termination of
employment on the date of payout in order to be eligible to receive a payout. 

  

	8.	Miscellaneous 

  

	a.	Participation in the ABP does not constitute a contract of employment or a contractual agreement for payout, and does not guarantee employment for any duration of time.
All elements of the ABP are at the discretion of the Company. The ABP should not be considered to be a part of a Participant’s annual compensation, unless otherwise required by local or regional law, and is non-pensionable. The Company reserves
the right to modify, revoke, suspend, terminate, or disregard all plan practices, policies or procedures, in whole or in part, published or unpublished, at any time, with or without notice, unless otherwise required by local or regional law.

  

			
	AOL INC. ANNUAL BONUS PLAN (2011)	  	1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}]]