Document:

Template -- Options, No Rights, Three Year Vesting

EXHIBIT 10.1

[TEMPLATE – OPTIONS/NO RIGHTS/THREE YEAR VESTING] 

[DATE]

[FULL NAME]

[ADDRESS]

Dear [FIRST NAME], 

               Pursuant
to the Company’s Employee Stock Plan (the “Plan”), on ______ (the
“Effective Date”) you were selected by the Compensation Committee of the
Board of Directors (as more fully described in Paragraph 14, the
“Committee”) of Cablevision Systems Corporation (the
“Company”) to receive nonqualified stock options (the
“Options”) to purchase ____ (___) shares of NY Group Class A Common Stock
of the Company (the “Class A Common Stock”) at a price of $____ per
share. 

               Capitalized
terms used but not defined in this agreement (this “Agreement”) have the
meanings given to them in the Plan. The Options are granted subject to the terms and
conditions set forth below: 

               1.   
Vesting. If you remain in the continuous employ of the Company or any
Affiliate, the Options will become exercisable in accordance with the following
schedule: 

	Date 	Portion of

Options Becoming Exercisable  
	[1st Anniversary] 	33 1/3% 
	[2nd Anniverary] 	33 1/3% 
	[3rd Anniversary 	33 1/3% 

               2.   
Exercise. You may exercise the Options by giving written notice to the
Secretary of the Company specifying the number of shares of Class A Common Stock
as to which the Options are being exercised (the “Exercise
Notice”), together with a copy of this Agreement. Unless the Company
chooses to settle such exercise in cash, shares of Class A Common Stock, or a
combination thereof pursuant to Paragraph 3, you will be required to deliver to
the Company within five (5) days of your delivery of the Exercise Notice,
payment in full of the exercise price due on account of such exercise. You may
pay the exercise price by cash, by certified check, by surrendering shares of
Class A Common Stock or by any combination thereof. Class A Common Stock used to
pay the exercise price pursuant to this Paragraph 2 will be valued at the Fair
Market Value as of the day preceding the date of exercise. 

               3.   
Option Spread. Upon receipt of the Exercise Notice, the Company may elect, in
lieu of issuing shares of Class A Common Stock, to settle the exercise covered
by such notice by paying you an amount equal to the product obtained by
multiplying (i) the excess of the Fair Market Value of one (1) share of Class A
Common Stock on the date of exercise over the per share exercise price of the
Options (the “Option Spread”) by (ii) the number of shares of Class A
Common Stock specified in the Exercise Notice. The amount payable to you in
these 

circumstances may be paid by the
Company either in cash or in shares of Class A Common Stock having a Fair Market Value
equal to the Option Spread, or a combination thereof, as the Company shall determine.
Class A Common Stock used to pay the Option Spread pursuant to this Paragraph 3 will be
valued at the Fair Market Value as of the day the Exercise Notice is received by the
Company.

               4.   
Expiration. The Options will terminate automatically and without further
notice on the tenth (10th) anniversary of the Effective Date, or at
any of the following dates, if earlier: 

	  	 (A) 	  	with
respect to those Options which are then unexercisable; the date upon which you
cease to be an employee of the Company or an Affiliate; 

	  	 (B) 	  	with
respect to those Options which are then exercisable: 

	  	
(i) one hundred and eighty days (180) following the date upon which you cease to
be an employee of the Company or an Affiliate, unless you cease to be an
employee by reason of (y) death, Disability (as defined below) or retirement
with the Company’s consent or (z) your employment having been terminated
for Cause (as defined below); 

	  	
(ii) three (3) years following the date upon which you cease to be an employee
of the Company or an Affiliate, if such cessation is the result of Disability or
retirement with the Company’s consent; or 

	  	 (C) 	  	with
respect to all your then outstanding Options, whether exercisable or
unexercisable, the date upon which your employment is terminated for Cause.

               For
purposes of this Agreement, “Cause” means, as determined by the
Committee, your (i) commission of an act of fraud, embezzlement, misappropriation, willful
misconduct, gross negligence or breach of fiduciary duty against the Company or an
affiliate thereof, or (ii) commission of any act or omission that results in a conviction,
please of no contest, plea of nolo contendere, or imposition of unadjudicated
probation for any crime involving moral turpitude or any felony. 

               For
purposes of this Agreement, “Disability” means your inability to perform for six
(6) continuous months substantially all the essential duties of your occupation, as
determined by the Committee. 

               Notwithstanding
the first (1st) sentence of this Paragraph 4, in the event of your death during
the period that your Options are exercisable, whether death occurs before or after you
cease employment, the Options that are exercisable at the time of your death shall remain
exercisable by your estate or beneficiary until the first (1st) anniversary of
your death, whether or not such first (1st) anniversary occurs prior to the
tenth (10th) anniversary of the Effective Date. 

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               5.   
Change of Control. As set forth in Appendix 1 attached hereto, the
Options may be affected in the event of a Change of Control (as defined in
Appendix 1 attached hereto) of the Company. 

               6.   
Tax Representations and Tax Withholding. You hereby acknowledge that you
have reviewed with your own tax advisors the federal, state and local tax
consequences of exercising the Options and receiving shares of Class A Common
Stock and cash. You hereby represent to the Company that you are relying solely
on such advisors and not on any statements or representations of the Company,
its Affiliates or any of their respective agents. 

               If,
in connection with the exercise of the Options, the Company is required to withhold any
amounts by reason of any federal, state or local tax, such withholding shall be effected
in accordance with Section 16 of the Plan. 

               7.   
Transfer Restrictions. You may not transfer, assign, pledge or otherwise
encumber the Options, other than to the extent provided in the Plan. 

               8.   
Non-Qualification as ISO. The Options are not intended to qualify as
“incentive stock options” within the meaning of Section 422A of the
Internal Revenue Code of 1986, as amended. 

               9.   
Relationship with Competitive Entities. In the event you shall
voluntarily terminate your employment or your employment is terminated for
Cause, you shall not become employed by, consult to, or have any interest,
directly or indirectly, in any Competitive Entity (as defined below) within one
(1) year of exercising any Options hereunder. If you shall voluntarily terminate
your employment or your employment is terminated for Cause, and, in either case,
subsequently become employed by, consult to, or have any interest, directly or
indirectly, in a Competitive Entity during such one-year period, you shall
within ten (10) business days thereof pay the Company, as liquidated damages and
not as a penalty, an amount equal to the sum of (a) the product of the Option
Spread multiplied by the number of shares of Class A Common Stock with respect
to which the Options were exercised during such one-year period, plus (b)
interest at a rate equal to the lesser of (i) twelve percent (12%) per annum or
(ii) the maximum interest rate permitted by applicable law, compounded
quarterly, calculated from the date you exercised the Options until the date
such payment to the Company is made. A “Competitive Entity” shall mean
(1) any company that competes (including, without limitation, by means of direct
broadcast satellite) with any of the Company’s cable television, telephone
or on-line data businesses in the New York City Metropolitan Area (as defined in
Appendix 1 attached hereto) or that competes with any of the
Company’s direct broadcast satellite, programming, cinema, sports or
entertainment businesses, nationally or regionally; or (2) any trade or
professional association representing any of the companies covered by this
Paragraph 9, other than the National Cable Television Association and any state
cable television association. Ownership of not more than one percent (1%) of the
outstanding stock of any publicly-traded company shall not be a violation of
this Paragraph 9. 

               By
accepting this Agreement, you understand that the terms and conditions of this Paragraph 9
may limit your ability to earn a livelihood in a business similar to the business of the
Company, but nevertheless hereby agree that the restrictions and limitations hereof are
reasonable in scope, area and duration, and that the consideration provided under the Plan
and this 

-3-

Agreement is sufficient to justify
the restrictions and limitations contained in this Paragraph 9. Accordingly, in
consideration thereof and in light of your education, skills and abilities, by
participating in the Plan, you hereby agree that you will not assert, and it should not
be considered, that such provisions are either unreasonable in scope, area or duration,
or will prevent you from earning a living, or otherwise are void, voidable or
unenforceable or should be voided or held unenforceable. You further understand and
hereby agree that the restrictions and limitations contained in this Paragraph 9 are
ancillary to, and part of, the Plan and this Agreement, and are reasonably necessary to
protect the good will and business interests of the Company.  

               You
hereby agree that a breach or threatened breach on your part of the restrictions and
limitations contained in this Paragraph 9 will cause such damage to the Company as will be
irreparable and for that reason you further agree that the Company shall be entitled as a
matter of right to an injunction or other equitable relief out of any court of competent
jurisdiction, restraining any further violation of this Paragraph 9 by you. The right to
injunction or other equitable relief shall be cumulative and in addition to any and all
other remedies the Company may have, including, specifically, recovery of money damages
and any other legal or equitable relief available. You hereby waive any requirement for
security or the posting of any bond or other surety and proof of damages in connection
with any temporary or permanent award of injunctive or other equitable relief. 

               10.   
Securities Law Acknowledgments. You hereby acknowledge and confirm to the
Company that (i) you are aware that the shares of Class A Common Stock are
publicly-traded securities and (ii) the shares of Class A Common Stock issuable
upon exercise of the Options may not be sold or otherwise transferred unless
such sale or transfer is registered under the Securities Act of 1933, as
amended, and the securities laws of any applicable state or other jurisdiction,
or is exempt from such registration. 

               11.   
Governing Law. This Agreement shall be deemed to be made under, and in
all respects shall be interpreted, construed and governed by and in accordance
with, the laws of the State of New York. 

               12.   
Jurisdiction and Venue. You hereby irrevocably submit to the jurisdiction
of the courts of the State of New York and the Federal courts of the United
States of America located in the Southern District and Eastern District of the
State of New York in respect of the interpretation and enforcement of the
provisions of this Agreement, and hereby waive, and agree not to assert, as a
defense that you are not subject thereto or that the venue thereof may not be
appropriate. You hereby agree that mailing of process or other papers in
connection with any such action or proceeding in any manner as may be permitted
by law shall be valid and sufficient service thereof. 

               13.   
Right of Offset. You hereby agree that if the Company shall owe you any
amount (the “Company-Owed Amount”) under this Agreement, then
the Company shall have the right to offset against the Company-Owed Amount, to
the maximum extent permitted by law, any amounts that you may owe to the Company
or its Affiliates of whatever nature. You hereby further agree that if you shall
owe the Company any amount (the “Optionee-Owed Amount”) under
Paragraph 9 of this Agreement, then the Company shall have the right to offset
the Optionee-Owed Amount, to the maximum extent permitted by law, against any
amount you may be entitled to receive from the Company or its Affiliates under
this Agreement or otherwise (in-

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cluding, without limitation, any
wages, vacation pay, or other compensation or benefit under any benefit plan or other
compensatory arrangement).  

               14.   
The Committee. For purposes of this Agreement, the term
“Committee” means the Compensation Committee of the Board of Directors
of the Company or any replacement committee established under, and as more fully
defined in, the Plan. 

               15.   
Committee Discretion. The Committee has full discretion with respect to
any actions to be taken or determinations to be made in connection with this
Agreement, and its determinations shall be final, binding and conclusive.

               16.   
Amendment. The Committee reserves the right at any time to amend the
terms and conditions set forth in this Agreement, except that no such amendment
shall materially adversely affect your economic rights under this Agreement
without your consent. Any amendment of this Agreement shall be in writing and
signed by an authorized member of the Committee or a person or persons
designated by the Committee. 

               17.   
Options Subject to the Plan. The Options granted by this Agreement are
subject to the Plan. 

               18.   
Entire Agreement. This Agreement and the Plan constitute the entire
understanding and agreement of you and the Company with respect to the Options
covered hereby and supersede all prior understandings and agreements. In the
event of a conflict among the documents with respect to the terms and conditions
of the Options covered hereby, the documents will be accorded the following
order of authority: the terms and conditions of the Plan will have highest
authority followed by the terms and conditions of this Agreement. 

               19.   
Successors and Assigns. The terms and conditions of this Agreement shall
be binding upon, and shall inure to the benefit of, the Company and its
successors and assigns. 

               20.   
Waiver. No waiver by the Company at any time of any breach by you of, or
compliance with, any term or condition of this Agreement or the Plan to be
performed by you shall be deemed a waiver of the same, any similar or any
dissimilar term or condition at the same or at any prior or subsequent time.

               21.   
Severability. The terms or conditions of this Agreement shall be deemed
severable and the invalidity or unenforceability of any term or condition hereof
shall not affect the validity or enforceability of the other terms and
conditions set forth herein. 

               22.   
Exclusion from Compensation Calculation. By acceptance of this Agreement,
you shall be considered in agreement that all shares of Class A Common Stock and
cash received upon each exercise of the Options shall be considered special
incentive compensation and will be exempt from inclusion as “wages” or
“salary” in pension, retirement, life insurance and other employee
benefits arrangements of the Company and its Affiliates, except as determined
otherwise by the Company. In addition, each of your beneficiaries shall be
deemed to be in agreement that all such shares of Class A Common Stock and cash
be exempt from inclusion in “wages” or “salary” for purposes
of calculating benefits of any life insurance coverage sponsored by the Company
or any of its Affiliates. 

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               23.   
No Right to Continued Employment. Nothing contained in this Agreement or
the Plan shall be construed to confer on you any right to continue in the employ
of the Company or any Affiliate, or derogate from the right of the Company or
any Affiliate, as applicable, to retire, request the resignation of, or
discharge you, at any time, with or without cause. 

               24.   
Headings. The headings in this Agreement are for purposes of convenience
only and are not intended to define or limit the construction of the terms and
conditions of this Agreement. 

               25.   
Effective Date. Upon execution by you, this Agreement shall be effective
from and as of the Effective Date. 

               26.   
Signatures. Execution of this Agreement by the Company may be in the form
of an electronic or similar signature and such signature shall be treated as an
original signature for all purposes. 

	  	CABLEVISION SYSTEMS CORPORATION 

	   	By:  	  
	   	   	
 
	   	   	

Name:

Title: 
	

               By
your signature, you (i) acknowledge that a complete copy of the Plan and an executed
original of this Agreement have been made available to you and (ii) agree to all of the
terms and conditions set forth in the Plan and this Agreement. 

_____________________________

Optionee:  ______________________ 

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APPENDIX 1

TO

STOCK OPTION AWARD AGREEMENT (3 YEAR VESTING)

               In
the event of a “Change of Control” of the Company or a “going private
transaction,” as defined below, your entitlement to exercise the Options shall be as
follows: 

               1.   
If the Company or the “surviving entity”, as defined below, has shares
of common stock (or partnership units) traded on a national stock exchange or on
the over-the-counter market as reported on NASDAQ, the Committee shall, to the
extent that the Options have not been exercised and have not expired (the
“Outstanding Options”), no later than the effective date of the
transaction which results in a Change of Control or going private transaction
either (A) convert your rights in the Outstanding Options into a right to
receive an amount of cash equal to (i) the number of common shares subject or
relating to the Outstanding Options multiplied by (ii) the excess of (x) the
“offer price per share,” the “acquisition price per share”
or the “merger price per share,” each as defined below, whichever of
such amounts is applicable, over (y) the exercise price of the shares subject or
relating to the Outstanding Options, or (B) arrange to have the surviving entity
grant to you in substitution for your Outstanding Options an award of options
for shares of common stock (or partnership units) of the surviving entity on the
same terms with a value equivalent to the Outstanding Options and which will, in
the good faith determination of the Committee, provide you with an equivalent
profit potential. 

               2.   
If the Company or the surviving entity does not have shares of common stock (or
partnership units) traded on a national stock exchange or on the
over-the-counter market as reported on NASDAQ, the Committee shall convert your
rights in the Outstanding Options into a right to receive an amount of cash
equal to the amount calculated as per Section 1(A) above. 

               3.   
The cash award provided in Section 1 or 2 shall become payable to you, and the
substitute options of the surviving entity provided in Section 1 will become
exercisable (1) with respect to the Outstanding Options that were not
exercisable on the effective date of the Change of Control or going private
transaction, as the case may be, at the earlier of (a) the date on which the
Outstanding Options would otherwise have become exercisable hereunder had they
continued in effect, or (b) the date on which your employment with the Company
or the surviving entity is terminated (i) by the Company or the surviving entity
other than for Cause, if such termination occurs within three (3) years of the
Change of Control or going private transaction, (ii) by you for “good
reason,” as defined below, if such termination occurs within three (3)
years of the Change of Control or going private transaction or (iii) by you for
any reason at least six (6) months, but not more than nine (9) months after the
effective date of the Change of Control or going private transaction, or (2)
with respect to the Outstanding Options that were exercisable on the effective
date of the Change of Control or going private transaction, as the case may be,
the substitute options shall become exercisable immediately and the cash awards
shall become payable promptly. The amount payable in cash shall be payable
together with interest from the effective date of the Change of Control or going
private transaction until the date of payment at (a) the weighted average cost
of capital of the Company immediately prior to the effectiveness of the Change
of Control or going private transaction, or (b) if the Company (or the surviving
en-

-7-

tity) sets aside the funds in a
trust or other funding arrangement, the actual earnings of such trust or other funding
arrangement.  

               4.   
As used herein, 

               “Change
of Control” means the acquisition, in a transaction or a series of related
transactions, by any person or group, other than Charles F. Dolan or members of the
immediate family of Charles F. Dolan or trusts for the benefit of Charles F. Dolan or his
immediate family (or an entity or entities controlled by any of them) or any employee
benefit plan sponsored or maintained by the Company, of (1) the power to direct the
management of substantially all the cable television systems then owned by the Company in
the New York City Metropolitan Area (as hereinafter defined) or (2) after any fiscal year
of the Company in which all the systems referred to in clause (1) above shall have
contributed in the aggregate less than a majority of the net revenues of the Company and
its consolidated subsidiaries, the power to direct the management of the Company or
substantially all its assets. Net revenues shall be determined by the independent
accountants of the Company in accordance with generally accepted accounting principles
consistently applied and certified by such accountants. “New York City Metropolitan
Area” means all locations within the following counties: (i) New York, Richmond,
Kings, Queens, Bronx, Nassau, Suffolk, Westchester, Rockland, Orange, Putnam, Sullivan,
Dutchess, and Ulster in New York State; (ii) Hudson, Bergen, Passaic, Sussex, Warren,
Hunterdon, Somerset, Union, Morris, Middlesex, Mercer, Monmouth, Essex and Ocean in New
Jersey; (iii) Pike in Pennsylvania; and (iv) Fairfield and New Haven in Connecticut. 

               “Surviving
entity” means the entity that owns, directly or indirectly, after consummation of any
transaction, substantially all the cable television systems owned directly or indirectly
by the Company in the New York City Metropolitan Area prior to consummation of such
transaction. If any such entity is at least majority-owned, directly or indirectly, by any
entity (a “parent entity”) which has shares of common stock (or
partnership units) traded on a national stock exchange or the over-the-counter market, as
reported on NASDAQ, then such parent entity shall be deemed to be the surviving entity
provided that if there shall be more than one such parent entity, the parent entity
closest to ownership of the Company’s cable television systems shall be deemed to be
the surviving entity. If in connection with any transaction, a Change of Control or going
private transaction occurs and no entity shall own, after consummation of such
transaction, substantially all the cable television systems owned by the Company in the
New York City Metropolitan Area prior to consummation of such transaction, then,
notwithstanding any other provision of this Section 4 to the contrary, there shall not be
deemed to be a surviving entity so that the provisions of Section 1(B) shall not be
applicable. Ownership of “substantially all” the Company’s New York City
Metropolitan Area cable television systems shall mean ownership, after consummation of
such transaction (or series of related transactions), of an aggregate of at least eighty
percent (80%) of the basic subscribers of all the cable television systems owned by the
Company and its consolidated subsidiaries in the New York City Metropolitan Area prior to
such transaction (or series of related transactions). 

               “Going
private transaction” means a transaction described in Rule 13e-3 to the Securities
and Exchange Act of 1934. 

               “Good
reason” means 

-8-

               (i)   
without your express written consent any reduction in your base salary or bonus
potential, or any material impairment or material adverse change in your working
conditions (as the same may from time to time have been improved or, with your
written consent, otherwise altered, in each case, after the Effective Date) at
any time after or within ninety (90) days prior to the Change of Control
including, without limitation, any material reduction of your other
compensation, executive perquisites or other employee benefits (measured, where
applicable, by level or participation or percentage of award under any plans of
the Company), or material impairment or material adverse change of your level of
responsibility, authority, autonomy or title, or to your scope of duties;

               (ii)   
any failure by the Company to comply with any of the provisions of this
Agreement, other than an insubstantial or inadvertent failure remedied by the
Company promptly after receipt of notice thereof given by you; 

               (iii)   
the Company’s requiring you to be based at any office or location more than
thirty-five (35) miles from your location immediately prior to such event except
for travel reasonably required in the performance of your responsibilities; or

               (iv)   
any failure by the Company to obtain the assumption and agreement to perform
this Agreement by a successor as contemplated by Section 1. 

               “Offer
price per share” shall mean, in the case of a tender offer or exchange offer which
results in a Change of Control or going private transaction (an “Offer”),
the greater of (i) the highest price per share of common stock paid pursuant to the Offer,
or (ii) the highest fair market value per share of common stock during the ninety-day
period ending on the date of a Change of Control or going private transaction. Any
securities or property which are part or all of the consideration paid for shares of
common stock in the Offer shall be valued in determining the Offer Price per share at the
higher of (A) the valuation placed on such securities or property by the Company, person
or other entity making such offer or (B) the valuation placed on such securities or
property by the Committee. 

               “Merger
price per share” shall mean, in the case of a merger, consolidation, sale, exchange
or other disposition of assets that results in a Change of Control or going private
transaction (a “Merger”), the greater of (i) the fixed or formula price
for the acquisition of shares of common stock occurring pursuant to the Merger, and (ii)
the highest fair market value per share of common stock during the ninety-day period
ending on the date of such Change of Control or going private transaction. Any securities
or property which are part or all of the consideration paid for shares of common stock
pursuant to the Merger shall be valued in determining the merger price per share at the
higher of (A) the valuation placed on such securities or property by the Company, person
or other entity which is a party with the Company to the Merger, or (B) the valuation
placed on such securities or property by the Committee. 

               “Acquisition
price per share” shall mean the greater of (i) the highest price per share stated on
the Schedule 13D or any amendment thereto filed by the holder of twenty percent (20%) or
more of the Company’s voting power which gives rise to the Change of Control or going
private transaction, and (ii) the highest fair market value per share of common stock
during the ninety-day period ending on the date of such Change of Control or going private
transaction. 

-9-Restricted Shares Agreement

EXHIBIT 10.2

RESTRICTED SHARES
AGREEMENT 

[Full Name of Employee] 

[Address] 

[Date] 

Dear [First Name]: 

        Pursuant
to the Company’s Employee Stock Plan (the “Plan”), you have been
selected by the Compensation Committee of the Board of Directors (as more fully described
in Section 13, the “Committee”) of Cablevision Systems Corporation (the
“Company”) to receive _____ (___) restricted shares (“Restricted
Shares”) of NY Group Class A Common Stock, par value $.01 per share
(“Common Shares”) effective as of October 1, 2004 (the “Grant
Date”). 

        Capitalized
terms used but not defined in this agreement (this “Agreement”) have the
meanings given to them in the Plan. The Restricted Shares are subject to the terms and
conditions set forth below: 

     1.    
          Consideration. You are required to pay the Company the aggregate par
          value amount of the Restricted Shares no later than forty-five (45) business
          days from the Grant Date. The total par value amount of your Restricted Shares
          is $______ (the “Par Value Amount”). If we do not receive this
          payment in time, you consent to and authorize the deduction of such amount from
          your salary. 

     2.    
          Vesting. None of your Restricted Shares will vest and you will forfeit
          all of them if you do not remain continuously employed with the Company or one
          of its Affiliates from the Grant Date through the fourth (4th)
          anniversary of the Grant Date, except that a portion of your Restricted Shares
          may vest sooner if you are terminated without Cause (as defined below) or, in
          accordance with Section 4, die or become disabled (as defined in Section 4). 

        For
purposes of this Agreement, “Cause” means, as determined by the Committee, your
(i) commission of an act of fraud, embezzlement, misappropriation, willful misconduct,
gross negligence or breach of fiduciary duty against the Company or an affiliate thereof,
or (ii) commission of any act or omission that results in a conviction, please of no
contest, plea of nolo contendere, or imposition of unadjudicated probation for any
crime involving moral turpitude or any felony. 

     3.    
          Accelerated Vesting for Termination Without Cause. If the Company or one
          of its Affiliates terminates your employment without Cause after the second
          (2nd) anniversary and before the third (3rd) anniversary
          of the Grant Date, twenty-five percent (25%) of the Restricted Shares will vest
          as of the termination date (i.e., the last date of your employment
          with the Company or one of its Affiliates) and the balance of the Restricted
          Shares will be immediately forfeited. If the Company or one of its Affiliates
          terminates your employment without Cause on or after the third (3rd)
          anniversary and before the fourth (4th) anniversary of the Grant
          Date, fifty percent (50%) of the Restricted Shares will vest as of the
          termination date and the balance of the Restricted Shares will be immediately
          forfeited. As a condition to the accelerated vesting provided for in this Sec- 

tion 3, you will be
required to sign and deliver a waiver and release substantially in the form
attached as Annex 2 hereto; it being understood and agreed by you,
however, that the Company reserves the right to amend the form of waiver and
release from time to time to make such changes as the Company shall reasonably
determine are either necessary or desirable including, without limitation,
changes that may be required to reflect changes in law. In the event that the
waiver and release covered by this Section 3 is required to be signed and
delivered, the Company shall have no obligation under this Agreement or the Plan
to take any action unless and until the waiver and release is fully effective
and all rights to revoke, withdraw or otherwise terminate such waiver and
release have expired or otherwise terminated. 

     4.    
          Accelerated Vesting in the Event of Death or Disability. If your
          employment is terminated as a result of your death or disability, a portion of
          the Restricted Shares equal to the product of (i) the number of your Restricted
          Shares multiplied by (ii) a fraction, the numerator of which is the number of
          months you were employed from the Grant Date until your termination date and the
          denominator of which is forty-eight (48), will vest as of the termination date
          and the balance of the Restricted Shares will be immediately forfeited. In the
          event of your death, your estate will be entitled to the Restricted Shares that
          have vested. 

        For
purposes of this Agreement, “disability” means your inability to perform for six
(6) continuous months substantially all the essential duties of your occupation, as
determined by the Committee. 

     5.    
          Change of Control. As set forth in Annex 1 attached hereto, your
          entitlement to Restricted Shares may be affected in the event of a Change of
          Control of the Company (as defined in Annex 1 attached hereto). 

     6.    
          Relationship with Competitive Entities. In the event that you shall
          voluntarily terminate your employment or your employment is terminated for
          Cause, you shall not become employed by, consult to, or have any interest,
          directly or indirectly, in any Competitive Entity (as defined below) within one
          (1) year after your Restricted Shares have vested. If you shall voluntarily
          terminate your employment or your employment is terminated for Cause, and, in
          either case, subsequently become employed by, consult to, or have any interest,
          directly or indirectly, in a Competitive Entity during such one-year period, you
          shall within ten (10) business days thereof pay the Company, as liquidated
          damages and not as a penalty, an amount equal to (a) the gain (whether or not
          realized) attributable to the vesting of the Restricted Shares, plus (b)
          interest at a rate equal to the lesser of (i) twelve percent (12%) per annum or
          (ii) the maximum interest rate permitted by applicable law, compounded
          quarterly, calculated from the date the Restricted Shares vested until the date
          such payment to the Company is made. Such gain shall be equal to the greater of
          the (y) positive difference, if any, between the Fair Market Value of the
          Restricted Shares on the date such shares vest and the Par Value Amount paid for
          the Restricted Shares or (z) positive difference, if any, between the Fair
          Market Value of the Restricted Shares on your first (1st) day of
          employment by the Competitive Entity and the Par Value Amount paid for such
          shares. A “Competitive Entity” shall mean (1) any company that
          competes (including, without limitation, by means of direct broadcast satellite)
          with any of the Company’s cable television, telephone or on-line data
          businesses in the New York City Metropolitan Area (as defined in Annex 1
          attached hereto) or that competes with any of the Company’s direct
          broadcast satellite, programming, cinema, sports or entertainment businesses,
          nationally or regionally; or (2) any 

-2- 

trade or professional
association representing any of the companies covered by this Section 6, other
than the National Cable Television Association and any state cable television
association. Ownership of not more than one percent (1%) of the outstanding
stock of any publicly-traded company shall not be a violation of this Section 6.

        By
accepting this Agreement, you understand that the terms and conditions of this Section 6
may limit your ability to earn a livelihood in a business similar to the business of the
Company, but nevertheless hereby agree that the restrictions and limitations hereof are
reasonable in scope, area and duration, and that the consideration provided under the
Plan and this Agreement is sufficient to justify the restrictions and limitations
contained in this Section 6. Accordingly, in consideration thereof and in light of your
education, skills and abilities, by participating in the Plan, you hereby agree that you
will not assert, and it should not be considered, that such provisions are either
unreasonable in scope, area or duration, or will prevent you from earning a living, or
otherwise are void, voidable or unenforceable or should be voided or held unenforceable.
You further understand and hereby agree that the restrictions and limitations contained
in this Section 6 are ancillary to, and part of, the Plan and this Agreement, and are
reasonably necessary to protect the good will and business interests of the Company.  

        You
hereby agree that a breach or threatened breach on your part of the restrictions and
limitations contained in this Section 6 will cause such damage to the Company as will be
irreparable and for that reason you further agree that the Company shall be entitled as a
matter of right to an injunction or other equitable relief out of any court of competent
jurisdiction, restraining any further violation of this Section 6 by you. The right to
injunction or other equitable relief shall be cumulative and in addition to any and all
other remedies the Company may have, including, specifically, recovery of money damages
and any other legal or equitable relief available. You hereby waive any requirement for
security or the posting of any bond or other surety and proof of damages in connection
with any temporary or permanent award of injunctive or other equitable relief. 

     7.    
          Transfer Restrictions. You may not transfer, assign, pledge or otherwise
          encumber the Restricted Shares, other than to the extent provided in the Plan. 

     8.    
          Right to Vote and Receive Dividends. You have full voting rights with
          respect to the Restricted Shares. All dividends and distributions paid on your
          Restricted Shares will be retained by the Company for your account until your
          Restricted Shares vest and such dividends and distributions will be paid to you
          (without interest) when your Restricted Shares vest. 

     9.    
          Section 83(b) Election. If you wish to make an election pursuant to
          Section 83(b) of the Internal Revenue Code of 1986, as amended, to
          recognize income with respect to the Restricted Shares before they become
          vested, you must file a Section 83(b) election with the Internal Revenue Service
          within thirty (30) days of the Grant Date and provide a copy of that
          filing to the Company. You are strongly encouraged to seek the advice of a tax
          consultant regarding the advisability of making a Section 83(b) election.
          You should note that any taxes you pay as a result of your Section 83(b)
          election cannot be recovered if your Restricted Shares are forfeited or decline
          in value. It is your sole responsibility to timely file an election under
          Section 83(b). You must notify the Company within ten (10) days of filing
          any such election. A Sample Form of Election under Section 83(b) is
          attached for your reference as Annex 3. 

-3- 

     10.    
          Tax Representations and Tax Withholding. You hereby acknowledge that you
          have reviewed with your own tax advisors the federal, state and local tax
          consequences of receiving the Restricted Shares. You hereby represent to the
          Company that you are relying solely on such advisors and not on any statements
          or representations of the Company, its Affiliates or any of their respective
          agents. 

        If,
in connection with the Restricted Shares, the Company is required to withhold any amounts
by reason of any federal, state or local tax, such withholding shall be effected in
accordance with Section 16 of the Plan. 

     11.    
          Delivery. Unless otherwise determined by the Committee, delivery of the
          Restricted Shares will be by book-entry credit to an account in your name that
          the Company has established at a custody agent (the
          “custodian”). The Company’s transfer agent, Mellon
          Investor Services LLC, shall act as the custodian of the Restricted Shares;
          however, the Company may in its sole discretion appoint another custodian
          to replace Mellon Investor Services LLC. On the date your Restricted Shares
          vest, if you have complied with your obligations under this Agreement and
          provided that your tax obligations with respect to the vested Restricted
          Shares are appropriately satisfied, at your request, we will either instruct the
          custodian to electronically transfer your Common Shares to a brokerage or other
          account you specify or deliver to you a physical stock certificate representing
          your Common Shares. 

     12.    
          Right of Offset. You hereby agree that if the Company shall have any
          obligation to you (the “Company Obligation”) under this
          Agreement, then the Company shall have the right to offset against the Company
          Obligation, to the maximum extent permitted by law, any amounts that you may owe
          to the Company or its Affiliates of whatever nature. You hereby further agree
          that if you shall owe the Company any amount (the “Optionee-Owed
          Amount”) under Section 6 of this Agreement, then the Company shall have
          the right to offset the Optionee-Owed Amount, to the maximum extent permitted by
          law, against any obligation from the Company or its Affiliates to you under this
          Agreement or otherwise (including, without limitation, any wages, vacation pay,
          or other compensation or benefit under any benefit plan or other compensatory
          arrangement). 

     13.    
          The Committee. For purposes of this Agreement, the term
          “Committee” means the Compensation Committee of the Board of Directors
          of the Company or any replacement committee established under, and as more fully
          defined in, the Plan. 

     14.    
          Committee Discretion. The Committee has full discretion with respect to
          any actions to be taken or determinations to be made in connection with this
          Agreement, and its determinations shall be final, binding and conclusive. 

     15.    
          Amendment. The Committee reserves the right at any time to amend the
          terms and conditions set forth in this Agreement, except that no such amendment
          shall materially adversely affect your economic rights under this Agreement
          without your consent. Any amendment of this Agreement shall be in writing and
          signed by an authorized member of the Committee or a person or persons
          designated by the Committee. 

-4- 

     16.    
          Restricted Shares Subject to the Plan. The Restricted Shares covered by
          this Agreement are subject to the Plan. 

     17.    
          Entire Agreement. This Agreement and the Plan constitute the entire
          understanding and agreement of you and the Company with respect to the
          Restricted Shares and supersede all prior understandings and agreements. In the
          event of a conflict among the documents with respect to the terms and conditions
          of the Restricted Shares, the documents will be accorded the following order of
          authority: the terms and conditions of the Plan will have highest authority
          followed by the terms and conditions of this Agreement. 

     18.    
          Successors and Assigns. The terms and conditions of this Agreement shall
          be binding upon, and shall inure to the benefit of, the Company and its
          successors and assigns. 

     19.    
          Governing Law. This Agreement shall be deemed to be made under, and in
          all respects be interpreted, construed and governed by and in accordance with,
          the laws of the State of New York. 

     20.    
          Jurisdiction and Venue. You irrevocably submit to the jurisdiction of the
          courts of the State of New York and the Federal courts of the United States
          located in the Southern District and Eastern District of the State of New York
          in respect of the interpretation and enforcement of the provisions of this
          Agreement, and hereby waive, and agree not to assert, as a defense that you are
          not subject thereto or that the venue thereof may not be appropriate. You agree
          that the mailing of process or other papers in connection with any action or
          proceeding in any manner permitted by law shall be valid and sufficient service. 

     21.    
          Securities Law Acknowledgments. You hereby acknowledge and confirm to the
          Company that (i) you are aware that the Common Shares are publicly-traded
          securities and (ii) Common Shares may not be sold or otherwise transferred
          unless such sale or transfer is registered under the Securities Act of 1933, as
          amended, and the securities laws of any applicable state or other jurisdiction,
          or is exempt from such registration. 

     22.    
          Waiver. No waiver by the Company at any time of any breach by you of, or
          compliance with, any term or condition of this Agreement or the Plan to be
          performed by you shall be deemed a waiver of the same, any similar or any
          dissimilar term or condition at the same or at any prior or subsequent time. 

     23.    
          Severability. The provisions of this Agreement shall be deemed severable
          and the invalidity or unenforceability of any term or condition hereof shall not
          affect the validity or enforceability of the other terms and conditions set
          forth herein. 

     24.    
          Exclusion from Compensation Calculation. By acceptance of this Agreement,
          you shall be considered in agreement that the Restricted Shares covered hereby
          shall be considered special incentive compensation and will be exempt from
          inclusion as “wages” or “salary” in pension, retirement,
          life insurance and other employee benefits arrangements of the Company and its
          Affiliates, except as determined otherwise by the Company. In addition, each of
          your beneficiaries shall be deemed to be in agreement that all such shares be
          exempt from inclusion in “wages” or “salary” for purposes of
          calculating benefits of any life insurance coverage sponsored by the Company or
          any of its Affiliates. 

-5- 

     25.    
          No Right to Continued Employment. Nothing contained in this Agreement or
          the Plan shall be construed to confer on you any right to continue in the employ
          of the Company or any Affiliate, or derogate from the right of the Company or
          any Affiliate, as applicable, to retire, request the resignation of, or
          discharge you, at any time, with or without cause. 

     26.    
          Headings. The headings in this Agreement are for purposes of convenience
          only and are not intended to define or limit the construction of the terms and
          conditions of this Agreement. 

     27.    
          Effective Date. Upon execution by you, this Agreement shall be effective
          from and as of the Grant Date. 

-6- 

     28.    
          Signatures. Execution of this Agreement by the Company may be in the form
          of an electronic or similar signature, and such signature shall be treated as an
          original signature for all purposes. 

	  	CABLEVISION SYSTEMS CORPORATION 

	   	By:  	  
	   	   	
 
	   	   	

Name:

Title: 
	

 

        By
your signature, you (i) acknowledge that a complete copy of the Plan and an executed
original of this Agreement have been made available to you and (iii) agree to all of the
terms and conditions set forth in the Plan and this Agreement. 

__________________________

Name: 

-7- 

Annex 1

to

Restricted Shares Agreement  

In the event of a “Change of
Control” of the Company or a “going private transaction,” as defined below,
your entitlement to Restricted Shares shall be as follows: 

     1.    
          If the Company or the “surviving entity,” as defined below, has shares
          of common stock (or partnership units) traded on a national stock exchange or on
          the over-the-counter market as reported on NASDAQ, the Committee shall, no later
          than the effective date of the transaction which results in a Change of Control
          or going private transaction either (A) convert your unvested Restricted
          Shares into an amount of cash equal to (i) the number of your unvested
          Restricted Shares multiplied by (ii) the “offer price per share,”
          the “acquisition price per share” or the “merger price per
          share,” each as defined below, whichever of such amounts is applicable or
          (B) arrange to have the surviving entity grant to you an award of shares of
          common stock (or partnership units) of the surviving entity on the same terms
          and with a value equivalent to your unvested Restricted Shares which will, in
          the good faith determination of the Committee, provide you with an equivalent
          profit potential. 

     2.    
          If the Company or the surviving entity does not have shares of common stock (or
          partnership units) traded on a national stock exchange or on the
          over-the-counter market as reported on NASDAQ, the Committee shall convert your
          unvested Restricted Shares into an amount of cash equal to the amount calculated
          as per Paragraph 1(A) above. 

     3.    
          The cash award provided in Paragraph 1 or 2 shall become payable to you at
          the earlier of (a) the date on which your Restricted Shares are scheduled
          to vest, or (b) the date on which your employment with the Company or the
          surviving entity is terminated (i) by the Company or the surviving entity
          other than for Cause, if such termination occurs within three (3) years of the
          Change of Control or going private transaction, (ii) by you for “good
          reason,” as defined below, if such termination occurs within three (3)
          years of the Change of Control or going private transaction or (iii) by you for
          any reason at least six (6) months, but not more than nine (9) months after the
          effective date of the Change of Control or going private transaction. The amount
          payable in cash shall be payable together with interest from the effective date
          of the Change of Control or going private transaction until the date of payment
          at (a) the weighted average cost of capital of the Company immediately
          prior to the effectiveness of the Change of Control or going private
          transaction, or (b) if the Company (or the surviving entity) sets aside the
          funds in a trust or other funding arrangement, the actual earnings of such trust
          or other funding arrangement. 

     4.    
          As used herein, 

“Change of Control”
means the acquisition, in a transaction or a series of related transactions, by any person
or group, other than Charles F. Dolan or members of the immediate family of
Charles F. Dolan or trusts for the benefit of Charles F. Dolan or his immediate
family (or an entity or entities controlled by any of them) or any employee benefit plan
sponsored or maintained by the Company, of (1) the power to direct the management of
substantially all the cable television systems then owned by the Company in the
New York City Metropolitan Area (as hereinafter defined) or (2) after any fiscal
year of the Company in which all the systems referred to in 

-8- 

     clause (1)    
          above shall have contributed in the aggregate less than a majority of the net
          revenues of the Company and its consolidated subsidiaries, the power to direct
          the management of the Company or substantially all its assets. Net revenues
          shall be determined by the independent accountants of the Company in accordance
          with generally accepted accounting principles consistently applied and certified
          by such accountants. “New York City Metropolitan Area” means
          all locations within the following counties: (i) New York, Richmond, Kings,
          Queens, Bronx, Nassau, Suffolk, Westchester, Rockland, Orange, Putnam, Sullivan,
          Dutchess, and Ulster in New York State; (ii) Hudson, Bergen, Passaic,
          Sussex, Warren, Hunterdon, Somerset, Union, Morris, Middlesex, Mercer, Monmouth,
          Essex and Ocean in New Jersey; (iii) Pike in Pennsylvania; and
          (iv) Fairfield and New Haven in Connecticut. 

“Surviving entity”
means the entity that owns, directly or indirectly, after consummation of any transaction,
substantially all the cable television systems owned directly or indirectly by the Company
in the New York City Metropolitan Area prior to consummation of such transaction. If
any such entity is at least majority-owned, directly or indirectly, by any entity (a
“parent entity”) which has shares of common stock (or
partnership units) traded on a national stock exchange or the over-the-counter market, as
reported on NASDAQ, then such parent entity shall be deemed to be the surviving entity
provided that if there shall be more than one such parent entity, the parent entity
closest to ownership of the Company’s cable television systems shall be deemed to be
the surviving entity. If in connection with any transaction, a Change of Control or going
private transaction occurs and no entity shall own, after consummation of such
transaction, substantially all the cable television systems owned by the Company in the
New York City Metropolitan Area prior to consummation of such transaction, then,
notwithstanding any other provision of this Paragraph 4 to the contrary, there shall
not be deemed to be a surviving entity so that the provisions of Paragraph 1(B) shall
not be applicable. Ownership of “substantially all” the Company’s
New York City Metropolitan Area cable television systems shall mean ownership, after
consummation of such transaction (or series of related transactions), of an aggregate of
at least eighty percent (80%) of the basic subscribers of all the cable television systems
owned by the Company and its consolidated subsidiaries in the New York City
Metropolitan Area prior to such transaction (or series of related transactions). 

“Going private
transaction” means a transaction described in Rule 13e-3 to the Securities
and Exchange Act of 1934. 

“Good reason”
means 

        a.    without
your express written consent any reduction in your base salary or bonus
potential, or any material impairment or material adverse change in your working
conditions (as the same may from time to time have been improved or, with your
written consent, otherwise altered, in each case, after the Grant Date) at any
time after or within ninety (90) days prior to the Change of Control
including, without limitation, any material reduction of your other
compensation, executive perquisites or other employee benefits (measured, where
applicable, by level or participation or percentage of award under any plans of
the Company), or material impairment or material adverse change of your level of
responsibility, authority, autonomy or title, or to your scope of duties;

-9- 

        b.              any
failure by the Company to comply with any of the provisions of this Agreement,
other than an insubstantial or inadvertent failure remedied by the Company
promptly after receipt of notice thereof given by you; 

        c.              the
Company’s requiring you to be based at any office or location more than
thirty-five (35) miles from your location immediately prior to such event
except for travel reasonably required in the performance of your
responsibilities; or 

        d.              any
failure by the Company to obtain the assumption and agreement to perform this
Agreement by a successor as contemplated by Paragraph 1. 

“Offer price per
share” shall mean, in the case of a tender offer or exchange offer which results
in a Change of Control or going private transaction (an
“Offer”), the greater of (i) the highest price per
share of common stock paid pursuant to the Offer, or (ii) the highest fair market
value per share of common stock during the ninety-day period ending on the date of a
Change of Control or going private transaction. Any securities or property which are part
or all of the consideration paid for shares of common stock in the Offer shall be valued
in determining the Offer Price per Share at the higher of (A) the valuation placed on
such securities or property by the Company, person or other entity making such offer or
(B) the valuation placed on such securities or property by the Committee. 

“Merger price per
share” shall mean, in the case of a merger, consolidation, sale, exchange or
other disposition of assets that results in a Change of Control or going private
transaction (a “Merger”), the greater of (i) the fixed
or formula price for the acquisition of shares of common stock occurring pursuant to the
Merger, and (ii) the highest fair market value per share of common stock during the
ninety-day period ending on the date of such Change of Control or going private
transaction. Any securities or property which are part or all of the consideration paid
for shares of common stock pursuant to the Merger shall be valued in determining the
merger price per share at the higher of (A) the valuation placed on such securities
or property by the Company, person or other entity which is a party with the Company to
the Merger, or (B) the valuation placed on such securities or property by the
Committee. 

“Acquisition price per
share” shall mean the greater of (i) the highest price per share stated on
the Schedule 13D or any amendment thereto filed by the holder of twenty percent (20%)
or more of the Company’s voting power which gives rise to the Change of Control or
going private transaction, and (ii) the highest fair market value per share of common
stock during the ninety-day period ending on the date of such Change of Control or going
private transaction. 

-10- 

Annex 2

to

Restricted Shares Agreement  

WAIVER AND RELEASE  

        In
consideration of Cablevision Systems Corporation’s (the “Company”)
offer to accelerate the vesting of my Restricted Shares under Section 3 of the Restricted
Shares Agreement dated ___________________ (the “Agreement”) between the
Company and me, I hereby for myself, and my heirs, agents, executors, successors, assigns
and administrators (collectively, the “Related Parties”), knowingly and
voluntarily forever waive and release the Company and all of its past and/or present
affiliates, directors, officers, employees, fiduciaries, representatives, successors and
assigns, whether in their individual or representative capacities (collectively, the
“Releasees”), from any and all claims, rights and causes of action
whatsoever (“Claims”), in law or in equity, whether known or unknown,
asserted or unasserted, suspected or unsuspected, that I or any Related Party ever had,
may have in the future or have now in connection with or arising from or in any way
related to my employment relationship with the Company or any of its Affiliates, or
termination of my employment relationship with the Company or any of its Affiliates
including, without limitation: 

	•	  	
any Claims under Federal or state law, regulation or decision (including those under the
Age Discrimination in Employment Act, 29 U.S.C. §§621 et.
seq. (the “ADEA”), the Older Workers Benefit Protection Act, 29
U.S.C. §626 (f)(1) (the “OWBPA”), Title VII of the Civil Rights
Act of 1991, the Americans with Disabilities Act, 42 U.S.C. §§12101-12213, the
Employee Retirement Income Security Act of 1974, the Family and Medical Leave Act of 1993,
the Fair Labor Standards Act, and any other similar or related law, regulation or decision
relating to or dealing with discrimination), or 

	•	  	any
Claims for punitive damages, attorney's fees, expenses and costs of litigation. 

-11- 

        Nothing
herein shall be construed to affect the right of the Equal Employment Opportunity
Commission (“EEOC”) to enforce the ADEA or to interfere with the
protected right to file a charge or participate in an EEOC investigation of proceeding. 

        This
Waiver and Release is intended to comply with the provisions of the OWBPA. By execution of
this Waiver and Release, I hereby expressly waive any and all Claims under the OWBPA and
hereby acknowledge that: 

        (a)              My
waiver of rights or Claims arising under the ADEA is in writing and is
understood by me; 

        (b)              The
waiver of my rights or Claims existing under the ADEA is in exchange for the
Company having entered into the Agreement; 

        (c)              The
Company advised me in writing to consult with attorneys of my choosing prior to
executing this Waiver and Release and I have in fact done so; 

        (d)              I
have been advised by the Company that I am entitled to revoke this Waiver and
Release within seven (7) days after its execution and that this Waiver and
Release shall not become effective or enforceable until the aforesaid seven (7)
day revocation period has expired; and 

        (e)              I
hereby acknowledge that this Waiver and Release is not requested in connection
with any existing incentive or other employment termination program. 

        I
hereby represent and warrant to the Releasees that (i) I have carefully read and fully
understand all the provisions and effects of this Waiver and Release, (ii) I have had a
period of at least twenty-one (21) days within which to consider this Waiver and Release,
(iii) I have signed and returned this Waiver and Release knowingly and voluntarily and in
the absence of any force or compulsion on the part of any of the Releasees and after
having been advised in 

-12- 

writing to consult with my attorney
and (iv) none of the Releasees has made any representations or warranties concerning
either the terms and provisions or effects of this Waiver and Release. 

        I
hereby acknowledge that this Waiver and Release shall take effect eight (8) days following
its execution (the “Effective Date”), unless revoked by me as hereinafter
provided. I hereby further acknowledge that I may revoke this Waiver and Release
unilaterally prior to the Effective Date by notifying the Company in writing, of my
decision to revoke this Waiver and Release and said notice must be received by the Company
no later than the seventh (7th) day following my execution of this Waiver and Release. I
understand that if I revoke and cancel this Waiver and Release, I will not be entitled to
the accelerated vesting provided by Section 3 of the Agreement. 

        Should
any term or provision of this Waiver and Release be declared or be determined by any court
to be illegal or invalid, the validity of the remaining terms and provisions, including
the release of all Claims, shall not be affected thereby and said illegal or invalid term
or provision shall be modified by the court so as to be legal or, if not reasonably
feasible, shall be deleted. This Waiver and Release sets forth the entire agreement
concerning the release of all Claims by me against the Releasees and may not be modified
except by a writing signed by me and the Company. 

        I
HEREBY CONFIRM THAT I HAVE CAREFULLY READ THE FOREGOING TERMS AND CONDITIONS OF THIS
WAIVER AND RELEASE, THAT I KNOW AND UNDERSTAND THE CONTENTS AND EFFECT OF THIS WAIVER AND
RELEASE, THAT I HAVE HAD THE OPPORTUNITY TO CONSULT COUNSEL WITH RESPECT TO THE LEGAL
EFFECT OF THIS WAIVER AND RELEASE, AND THAT MY EXECUTION OF THIS WAIVER AND RELEASE IS A
VOLUNTARY ACT. 

-13- 

        I
HEREBY VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT I MAY HAVE TO A TRIAL BY JURY IN ANY
COURT HAVING JURISDICTION OVER THE MATTER WITH RESPECT TO ANY ACTION, COUNTERCLAIM OR
DEFENSE ARISING OUT OF OR RELATING TO THIS WAIVER AND RELEASE. 

        I
represent that I have not filed, and will not hereafter file, any Claim against the
Company or its Affiliates relating to my employment and/or cessation of my employment with
the Company or its Affiliates, or otherwise involving facts that occurred on or prior to
the date I sign this Waiver and Release. 

        I
understand and agree that if I commence, continue, join in, or in any other manner attempt
to assert any Claim released herein against the Company or its Affiliates, or otherwise
violate the terms of this Waiver and Release, (i) I will cease to have any right to
accelerated vesting of my Restricted Shares pursuant to Section 3 of the Agreement, (ii)
to the extent that the Common Shares have already been delivered to me pursuant to the
Agreement, I will pay the Company, as liquidated damages and not as a penalty, promptly
upon notice, an amount equal to (a) the gain (whether or not realized) attributable to the
vesting of the Restricted Shares, plus (b) interest at a rate equal to the lesser of (i)
twelve percent (12%) per annum or (ii) the maximum interest rate permitted by applicable
law, compounded quarterly, calculated from the date the Restricted Shares vested until the
date such payment to the Company is made. Such gain shall be determined as of the date the
Restricted Shares vest as the positive difference, if any, between the Fair Market Value
of such shares on the vesting date and the par value amount paid for the Restricted
Shares, and (iii) I agree to reimburse the Company for all attorneys’ fees and
expenses incurred by it in defending against such a Claim, provided that the right
to receive the foregoing 

-14- 

payments is without prejudice to the
other rights of the Company hereunder, including any waiver and release of any and all
Claims against the Company . 

        I
understand and agree that the signing of this Waiver and Release by me does not in any way
indicate that I have any viable Claim against the Company or any of its Affiliates, or
that the Company or any of its Affiliates admits any liability to me whatsoever. 

        This
Waiver and Release shall be binding upon me and my heirs, executors, administrators,
personal representatives and assigns, and shall inure to the benefit of the Releasees. 

        This
Waiver and Release shall be deemed to be made under, and in all respects be interpreted,
construed and governed by and in accordance with, the laws of the State of New York to the
extent not preempted by applicable Federal law. 

        Capitalized
terms used but not defined herein have the meanings given to them in the Agreement. 

        IN
WITNESS WHEREOF, I executed this Waiver and Release, this ____ day of _________________ 

		

		Employee

-15- 

Annex 3

to

Restricted Shares Agreement  

SAMPLE FORM FOR ELECTION UNDER SECTION 83(b)

OF THE INTERNAL REVENUE CODE OF 1986  

Pursuant to Sections 83(b)
of the Internal Revenue Code of 1986, as amended, and Treasury Regulation
1.83-2, the undersigned taxpayer hereby elects to include in taxpayer's gross
income or alternative minimum taxable income, as the case may be, the excess, if
any, of the fair market value of the Property (as hereinafter defined) at the
time of transfer over the amount the taxpayer paid for such Property. The
following information is furnished in accordance with Treasury Regulations
Section 1.83-2(e). 

1.   The name, address and taxpayer identification number of the undersigned are
     as follows:

     Name of TAXPAYER:                           SPOUSE:

     Address:

     Social Security No. TAXPAYER:               SPOUSE:

2.   The property with respect to which the election is made (the "Property") is
     described as follows: restricted shares of Cablevision NY Group Class A
     Common Stock of Cablevision Systems Corporation (the "Company").

3.   The election is made for the 200_ calendar year with respect to the
     Property. The date on which the Property was transferred is
     _______________________
         (Grant Date)

4.   The Property is subject to the following restrictions: The Property may not
     be transferred and is subject to continued employment by the taxpayer with
     the Company through ____________________________________. These
                          (Fourth Anniversary of Grant Date)
     restrictions lapse upon the satisfaction of certain conditions contained in
     an agreement entered into by the Company with the taxpayer.

5.   The fair market value at the time of transfer, determined without regard to
     any restriction other than a restriction which by its terms will never
     lapse, of such Property is: $______________________.

6.   The amount (if any) paid for such Property is $_________________
                                                       (Par Value)

-16-

The undersigned has submitted a copy
of this statement to the person for whom the services were performed in connection with
the undersigned's receipt of the above-described Property. The undersigned understands
that the foregoing election may not be revoked except with the consent of the
Commissioner. 

	Dated:_________________________	_____________________________
	 	Taxpayer 

The undersigned spouse of taxpayer
joins in this election. 

	Dated:_________________________	_____________________________
	           Spouse 	Spouse 

-17-

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