Document:

Stock Option Agreement, dated February 2, 2007 with Susan D. Whiting

 Exhibit 10.10(e) 
 STOCK OPTION AGREEMENT 
 THIS AGREEMENT, dated as of February 2, 2007 (the “Grant
Date”) is made by and between Valcon Acquisition Holding B.V., a private company with limited liability incorporated under the laws of The Netherlands, having its registered office in Haarlem, The Netherlands (hereinafter referred to as the
“Company”), and the individual whose name is set forth on the signature page hereof, who is an employee of the Company or a Subsidiary of the Company, hereinafter referred to as the “Optionee”. Any capitalized terms
herein not otherwise defined in Article I shall have the meaning set forth in the Plan (as hereinafter defined). 
 WHEREAS, the Company
wishes to carry out the Plan, the terms of which are hereby incorporated by reference and made a part of this Agreement; and 
 WHEREAS, the
Committee, charged with administration of the Plan, has determined that it would be to the advantage and best interest of the Company and its shareholders to grant the Option provided for herein to the Optionee as an incentive for increased efforts
during his term of office with the Company or its Subsidiaries, and has advised the Company thereof and instructed the undersigned officers to issue said Option; 
 NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto do hereby agree as follows: 

ARTICLE I 
 DEFINITIONS 

Whenever the following terms are used in this Agreement, they shall have the meaning specified in the Plan or below unless the context clearly
indicates to the contrary. 
 Section 1.1. – Cause 
 “Cause” shall mean “Cause” as such term may be defined in any employment, change in control or severance agreement between the Optionee and the Company or any of its Subsidiaries (the
“Employment Agreement”), or, if there is no such Employment Agreement or if no such term is defined therein, “Cause” shall mean: (i) the Optionee’s willful misconduct with regard to the Company; (ii) the
Optionee is indicted for, convicted of, or pleading nolo contendere to, a felony, a misdemeanor involving moral turpitude, or an intentional crime involving material dishonesty other than, in any case, vicarious liability; (iii) the
Optionee’s conduct involving the use of illegal drugs in the workplace; (iv) the Optionee’s failure to attempt in good faith to follow a lawful directive of his or her supervisor within ten (10) days after written notice of such
failure; and/or (v) the Optionee’s breach of the Optionee’s Management Stockholders’ Agreement or the Optionee’s other agreements with the Company, which continues beyond ten (10) days after written demand for
substantial performance is delivered to the Optionee by the Company (to the extent that, in the reasonable judgment of the Board, such breach can be cured by the Optionee). 

 Section 1.2. – Fiscal Year 
 “Fiscal Year” shall mean each fiscal year of the Company (which, for the avoidance of doubt, begins on January 1 and ends on December 31 of any given calendar year). 
 Section 1.3. – Good Reason 
 “Good
Reason” shall mean “Good Reason” as such term is defined in the Employment Agreement, or if there is no such Employment Agreement or if such term is not defined therein, “Good Reason” shall mean, without the Optionee’s
consent, (i) a reduction in Optionee’s annual base salary or target annual incentive under the Annual Incentive Plan (“target AIP”) (excluding any reduction in Optionee’s base salary and/or target AIP that is part of a plan
to reduce compensation of comparably situated employees of the Company generally; provided that such reduction in Optionee’s base salary and/or target AIP, as applicable, is not greater than ten percent (10%) of such base salary and
target AIP); (ii) a material diminution in the nature or scope of the Optionee’s responsibilities, duties or authority (other than any such diminution which may occur by reason of the current corporate restructuring programs); or
(iii) the relocation by the Company of the Optionee’s primary place of employment with the Company to a location more than fifty (50) miles outside of the Optionee’s current principal place of employment (which shall not be
deemed to occur due to a requirement that the Optionee travel in connection with the performance of his or her duties); in any case of the foregoing, that remains uncured after ten (10) business days after the Optionee has provided the Company
written notice that the Optionee believes in good faith that such event giving rise to such claim of Good Reason has occurred, so long as such notice is provided within ninety (90) days after such event has first occurred. 
 Section 1.4. – Investor Return 
 “Investor Return” shall mean, on any given date, the aggregate amount of cash proceeds (including the receipt of any dividends or other distributions) received by the Investors and Affiliates in respect of their aggregate direct
and indirect equity investment in the Company (excluding, for the avoidance of doubt, debt investment). 
 Section 1.5. – Option 

“Option” shall mean the aggregate of the Time Option and the Performance Option granted under Section 2.1 of this Agreement. 

Section 1.6. – Permanent Disability 
 “Permanent Disability” shall mean “Disability” as such term is defined in the Employment Agreement, or if there is no such Employment Agreement or if such term is not defined therein, “Permanent Disability”
shall have occurred when the Optionee has been unable to perform his material duties because of physical or mental incapacity for a period of at least 180 consecutive days, as determined by a medical doctor mutually agreed upon by the parties
hereto. Any question as to the existence of the Permanent Disability of the Optionee as to which the Optionee and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to the Optionee and
the Company. If the Optionee 

  

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and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who
shall make such determination in writing. The determination of Permanent Disability made in writing to the Company and the Optionee shall be final and conclusive for all purposes of this Agreement (such inability is hereinafter referred to as
“Permanent Disability” or being “Permanently Disabled”). 
 Section 1.7. – Performance Option 
 “Performance Option” shall mean the right and option to acquire, on the terms and conditions set forth in Section 3.1(a)(ii) and (iii),
3.1(b)(ii) and 3.1(c)(ii) and (iii), all or any part of an aggregate of the number of shares of Common Stock, as shall be evidenced by entry in the Company’s shareholder register, set forth on the signature page of this Agreement. 

Section 1.8. – Time Option 
 “Time
Option” shall mean the right and option to acquire, on the terms and conditions set forth in Section 3.1(a)(i), 3.1(b)(i) and 3.1(c)(ii), all or any part of an aggregate of the number of shares of Common Stock, as shall be evidenced by
entry in the Company’s shareholder register, set forth on the signature page of this Agreement. 
 ARTICLE II 
 GRANT OF OPTIONS 
 Section 2.1. – Grant
of Options 
 For good and valuable consideration, on and as of the date hereof the Company irrevocably grants to the Optionee (i) a
Time Option upon the terms and conditions set forth in this Agreement and (ii) a Performance Option upon the terms and conditions set forth in this Agreement. The Option shall consist of a Time Option and a Performance Option. 
 Section 2.2. – Exercise Price 
 Subject to
Section 2.4, the exercise prices of the shares of Common Stock covered by the Time Option and Performance Option shall be as set forth on the signature page of this Agreement. 
 Section 2.3. – No Guarantee of Employment 
 Nothing in this Agreement or in the Plan shall
confer upon the Optionee any right to continue in the employ of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which are hereby expressly reserved, to terminate the
employment of the Optionee at any time for any reason whatsoever, with or without cause, subject to the applicable provisions of, if any, the Optionee’s employment agreement with the Company or its Subsidiaries or offer letter provided by the
Company or its Subsidiaries to the Optionee. 
  

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 Section 2.4. — Adjustments to Option 
 The Option shall be adjusted pursuant to Sections 8 or 9 of the Plan, as applicable. Any such adjustment made in good faith thereunder shall be final and
binding upon the Optionee, the Company and all other interested persons. 
 ARTICLE III 
 PERIOD OF EXERCISABILITY 
 Section 3.1. –
Commencement of Exercisability 
 (a) So long as the Optionee continues to be employed by the Company or any of its Subsidiaries, the
Option shall become exercisable pursuant to the following schedules: 
 (i) Time Option. Subject to clause (b)(i)
below, the Time Option shall become vested and exercisable as follows: (x) with respect to 5% of the shares of Common Stock underlying such Time Option, on the Grant Date; and (y) with respect to 19% of the shares of Common Stock
underlying such Time Option, on each of the five anniversaries of December 31, 2006. 
 (ii) Performance Option.
The Performance Option shall become vested and exercisable as follows: (x) with respect to 5% of the shares of Common Stock underlying such Performance Option, on the Grant Date; and (y) with respect to 19% of the shares of Common Stock
underlying such Performance Options, for each of the five Fiscal Years ending after the Grant Date, starting with the 2007 Fiscal Year, on each of the five anniversaries of December 31, 2006, if and only if the Company achieves the
Annual Performance Target set forth on Schedule A attached hereto for each such Fiscal Year. 
 (iii) In the event that
the Annual Performance Target is not achieved in a particular Fiscal Year identified on Schedule A (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal
Year satisfies the Cumulative Performance Target (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable
in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Target is achieved. 
 (b) Notwithstanding the foregoing, so long as the Optionee continues to be employed by the Company or any of its Subsidiaries through the occurrence of a Change in Control: 
 (i) the Time Option shall become immediately exercisable as to 100% of the shares of Common Stock underlying such Time Option immediately
prior to a Change in Control (but only to the extent such Option has not otherwise terminated or become exercisable), and 
  

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 (ii) the Performance Option shall become immediately exercisable as to 100% of the shares
of Common Stock underlying such Performance Option immediately prior to a Change in Control (but only to the extent such Option has not otherwise terminated or become exercisable) only if, as a result of the Change in Control, the Investor Return
equals or exceeds the Applicable Multiple (as set forth on Schedule B for the applicable Fiscal Year in which the Change in Control occurs) of the Base Price. 
 (c) Upon a termination of the Optionee’s employment for any reason (other than for Cause by the Company or without Good Reason by the Optionee but which shall include, for the avoidance of doubt, due to the
Optionee’s death or Permanent Disability): 
 (i) a pro-rata portion of the installment of the Time Option that would,
but for such termination, be scheduled to vest and become exercisable on December 31 of the Fiscal Year in which the termination occurs will become vested and exercisable upon such termination, with such pro-rata portion determined based on the
number of days the Optionee was employed by the Company or any of its Subsidiaries during such Fiscal Year, relative to the number of days of such full Fiscal Year; and 
 (ii) occurring within the last six months of any Fiscal Year, if the Annual Performance Target for such year is achieved, then a pro rata
portion of the installment of the Performance Option that would, but for such termination, be scheduled to vest and become exercisable on December 31 of the Fiscal Year in which the termination occurs will become vested and exercisable upon
such December 31, with such pro-rata portion determined based on the number of days the Optionee was employed by the Company or any of its Subsidiaries during such Fiscal Year, relative to the number of days of such full Fiscal Year (such
vesting event, a “Special Termination Vesting Event”). 
 (iii) Notwithstanding the foregoing, in the event it is
determined by the Company (in consultation with its auditors) that the provisions of Section 3.1(c)(ii) results in the Option (or any portion hereof) being classified as a liability as contemplated by FASB Statement No. 123R, Share-Based
Payment, including any amendments and interpretations thereto, then Section 3.1(c)(ii) shall be of no further force and effect, and instead the following provision shall apply: Upon a termination of the Optionee’s employment for any reason
(other than for Cause by the Company or without Good Reason by the Optionee but which shall include, for the avoidance of doubt, due to the Optionee’s death or Permanent Disability) occurring within the last six months of any Fiscal Year, a
Special Termination Vesting Event shall occur if and only if the Performance Target for such Fiscal Year is met, based on the EBITDA (as such term is defined in Schedule A) achieved for the twelve month trailing period ending the month end
prior to the month in which the termination event occurs. 
 (d) Notwithstanding the foregoing, no Option shall become exercisable as to any
additional shares of Common Stock (which do not otherwise become exercisable in accordance with Section 3.1(a), (b) or (c) above) following the termination of employment of the Optionee for any reason and any Option, which is
unexercisable as of the Optionee’s termination of employment, shall be immediately cancelled without payment therefor. 
  

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 Section 3.2. – Expiration of Option 
 Except as otherwise provided in Section 5 or 6 of the Management Stockholder’s Agreement, the Optionee may not exercise the Option to any extent
after the first to occur of the following events: 
 (a) The tenth anniversary of the Grant Date, provided that the Optionee remains employed
by the Company or any of its Subsidiaries through such date; 
 (b) Six months after the Optionee is terminated by the Company or any of its
Subsidiaries without Cause or the Optionee terminates employment with Good Reason (unless earlier terminated as provided in Section 3.2(e) below) (or, if later, and solely with respect to the installment of Performance Options, if any, that
become exercisable upon a Special Termination Vesting Event, thirty (30) days after the date that such installment becomes exercisable); 
 (c) The first anniversary of the date of the Optionee’s termination of employment, if the Optionee’s employment is terminated by reason of death or Permanent Disability (unless earlier terminated as provided in Section 3.2(e)
below); 
 (d) Immediately upon the date of the Optionee’s termination of employment by the Company or its Subsidiaries for Cause or by
the Optionee without Good Reason (other than due to death or Permanent Disability); 
 (e) The date the Option is terminated pursuant to
Section 4 of the Management Stockholder’s Agreement; or 
 (f) At the discretion of the Company, if the Committee so determines
pursuant to Section 9 of the Plan, the effective date of a merger, consolidation or other capital change or transaction of the Company that is a Change in Control, in which case, prior to such effective date, the Company shall provide no less
than ten (10) days prior written notice to the Optionee that the Company intends to exercise its discretion and provide either (x) an opportunity for the Optionee to exercise his Options (whether or not then vested), or (y) make
payment to the Optionee in respect of the termination of his Options upon such date. 
 ARTICLE IV 
 EXERCISE OF OPTION 
 Section 4.1. –
Person Eligible to Exercise 
 Except as otherwise provided in the Management Stockholder’s Agreement, during the lifetime of the
Optionee, only he may exercise an Option or any portion thereof. After the death of the Optionee, any exercisable portion of an Option may, prior to the time when an Option becomes unexercisable under Section 3.2, be exercised by his personal
representative or by any person empowered to do so under the Optionee’s will or under the then applicable laws of descent and distribution. 
  

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 Section 4.2. – Partial Exercise 
 Any exercisable portion of an Option or the entire Option, if then wholly exercisable, may be exercised in whole or in part at any time prior to the time
when the Option or portion thereof becomes unexercisable under Section 3.2; provided, however, that any partial exercise shall be for whole shares of Common Stock only. 
 Section 4.3. – Manner of Exercise 
 An
Option, or any exercisable portion thereof, may be exercised solely by delivering to the General Counsel of the Company or his office all of the following prior to the time when the Option or such portion becomes unexercisable under
Section 3.2: 
 (a) Notice in writing signed by the Optionee or the other person then entitled to exercise the Option or portion
thereof, stating that the Option or portion thereof is thereby exercised, such notice complying with all applicable rules established by the Committee; 
 (b) (i) Full payment (in cash or by check or by a combination thereof) for the shares with respect to which such Option or portion thereof is exercised or (ii) indication that the Optionee elects to have the
number of Shares that would otherwise be issued to the Optionee reduced by a number of Shares having an equivalent Fair Market Value to the payment that would otherwise be made by Optionee to the Company pursuant to clause (i) of this
subsection (b); 
 (c) At any time that the Common Stock is not publicly traded on an established securities market, a bona fide written
representation and agreement, in a form satisfactory to the Committee, signed by the Optionee or other person then entitled to exercise such Option or portion thereof, stating that the shares of Common Stock are being acquired for his own account,
for investment and without any present intention of distributing or reselling said shares or any of them except as may be permitted under the Securities Act of 1933, as amended (the “Act”), and then applicable rules and regulations
thereunder, and that the Optionee or other person then entitled to exercise such Option or portion thereof will indemnify the Company against and hold it free and harmless from any loss, damage, expense or liability resulting to the Company if any
sale or distribution of the shares by such person is contrary to the representation and agreement referred to above; provided, however, that the Committee may, in its reasonable discretion, take whatever additional actions it deems
reasonably necessary to ensure the observance and performance of such representation and agreement and to effect compliance with the Act and any other federal, provincial or state securities laws or regulations; 
 (d) Full payment to the Company (in cash or by check or by a combination thereof) of all amounts which, under applicable law, it is required to withhold
upon exercise of the Option; and 
 (e) In the event the Option or portion thereof shall be exercised pursuant to Section 4.1 by any
person or persons other than the Optionee, appropriate proof of the right of such person or persons to exercise the option. 
  

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 Without limiting the generality of the foregoing, the Committee may require an opinion of counsel acceptable to it to the
effect that any subsequent transfer of shares acquired on exercise of an Option does not violate the Act. If the Optionee is a resident of the United States, the written representation and agreement referred to in subsection (c) above shall,
however, not be required if the shares to be issued pursuant to such exercise have been registered under the Act, and such registration is then effective in respect of such shares. 
 Section 4.4. – Conditions to Issuance of Stock 
 The shares of stock issuable upon the
exercise of an Option, or any portion thereof, shall not be required to be so physically issued to the Optionee. For the avoidance of doubt, shares shall be deemed to have been issued when evidenced by entry in the Company’s shareholder
register. Such shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificate or certificates for shares of stock acquired upon the exercise of an Option or portion thereof prior to fulfillment of
all of the following conditions: 
 (a) The obtaining of approval or other clearance from any state, provincial or federal governmental
agency which the Committee shall, in its reasonable and good faith discretion, determine to be necessary or advisable (and the Company and the Optionee shall each use reasonable efforts to obtain all such clearances and approvals as soon as
reasonably practicable); 
 (b) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from
time to time establish for reasons of administrative convenience or as may otherwise be required by applicable law; and 
 (c) The execution
by the Optionee of a Sale Participation Agreement with Luxco (a “Sale Participation Agreement”) and a Management Stockholder’s Agreement. 
 Section 4.5. – Rights as Stockholder 
 The holder of an Option shall not be, nor have any of the rights or
privileges of, a stockholder of the Company in respect of any shares he may be issued upon the exercise of the Option or any portion thereof unless and until such shares shall have been issued as evidenced by entry in the Company’s shareholder
register upon satisfaction of the conditions set forth in Section 4.4. 
 ARTICLE V 
 MISCELLANEOUS 
 Section 5.1. –
Administration 
 The Committee shall have the power to interpret the Plan and this Agreement and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Committee in good faith shall be final and

  

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binding upon the Optionee, the Company and all other interested persons. No member of the Committee shall be personally liable for any action, determination
or interpretation made in good faith with respect to the Plan or the Option. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee under the Plan and this Agreement.

 Section 5.2. – Option Not Transferable 
 Subject to applicable law to the contrary, neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee or his successors in interest or
shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any
other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that this Section 5.2 shall not prevent transfers by will or by the applicable laws
of descent and distribution or to a partnership, limited liability company, corporation, trust or custodianship, the beneficiaries of which may include only the Optionee, his spouse (or ex-spouse) or his lineal descendants (including adopted
children) or, if at any time after any such transfer there shall be no then living spouse or lineal descendants, then to the ultimate beneficiaries of any such trust or to the estate of a deceased beneficiary. 
 Section 5.3. – Notices 
 Any notice to be
given under the terms of this Agreement to the Company shall be addressed to the Company in care of its General Counsel, and any notice to be given to the Optionee shall be addressed to him at the address given beneath his signature hereto. By a
notice given pursuant to this Section 5.3, either party may hereafter designate a different address for notices to be given to it or him. Any notice which is required to be given to the Optionee, shall, if the Optionee is then deceased, be
given to the Optionee’s personal representative if such representative has previously informed the Company of his status and address by written notice under this Section 5.3. Any notice shall have been deemed duly given (i) upon
electronic confirmation of facsimile, (ii) one business day following the date sent when sent by overnight delivery and (iii) five (5) business days following the date mailed when mailed by registered or certified mail return receipt
requested and postage prepaid, in each case as follows. 
 Section 5.4. – Titles; Pronouns 
 Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. The masculine
pronoun shall include the feminine and neuter, and the singular the plural, where the context so indicates. 
 Section 5.5. – Applicability of
Plan and Management Stockholder’s Agreement 
 The Option and the shares of Common Stock issued to the Optionee upon exercise of the
Option shall be subject to all of the terms and provisions of the Plan, the Management Stockholder’s Agreement and the Sale Participation Agreement, to the extent applicable to the Option and such shares. In the event of any conflict between
this Agreement 

  

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and the Plan, the terms of the Plan shall control. In the event of any conflict between this Agreement or the Plan and the Management Stockholder’s
Agreement, the terms of the Management Stockholder’s Agreement shall control. 
 Section 5.6. – Amendment 
 This Agreement may be amended only by a writing executed by the parties hereto, which specifically states that it is amending this Agreement. 

Section 5.7. – Governing Law 
 The laws
of the State of New York shall govern the interpretation, validity and performance of the terms of this Agreement, except to the extent that the issue or transfer of Stock shall be subject to mandatory provisions of the laws of The Netherlands.

 Section 5.8. – Arbitration 
 In the event of any controversy among the parties hereto arising out of, or relating to, this Agreement which cannot be settled amicably by the parties, such controversy shall be finally, exclusively and conclusively settled by mandatory
arbitration conducted expeditiously in accordance with the American Arbitration Association rules, by a single independent arbitrator. Such arbitration process shall take place within the Borough of Manhattan, in the City of New York, New York. The
decision of the arbitrator shall be final and binding upon all parties hereto and shall be rendered pursuant to a written decision, which contains a detailed recital of the arbitrator’s reasoning. Judgment upon the award rendered may be entered
in any court having jurisdiction thereof. Each party shall bear its own legal fees and expenses. Notwithstanding anything herein to the contrary, if the Employment Agreement contains a similar provision relating to arbitration and/or dispute
resolution, such provision in the Employment Agreement shall govern any controversy hereunder. 
 Section 5.9. – Code Section 409A

 If any payments of money, delivery of shares of Common Stock or other benefits due to the Participant hereunder could cause the application of an
accelerated or additional tax under Section 409A of the Code, such payments, delivery of shares or other benefits shall be deferred if deferral will make such payment, delivery of shares or other benefits compliant under Section 409A of
the Code, otherwise such payment, delivery of shares or other benefits shall be restructured, to the extent possible, in a manner, determined by the Company and reasonably acceptable to the Participant, that does not cause such an accelerated or
additional tax. 
 Section 5.10. – Counterparts 
 This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
  

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	VALCON ACQUISITION HOLDING B.V.
		
	By:	 	/s/ Authorized Signatory
		
	Its:	 	  
	
	OPTIONEE:
	
	/s/ Susan D. Whiting
	Susan D. Whiting
	
	Address:
	
	  
	
	  

  
  

			
	 Aggregate number of shares of Common Stock for which the Time Option granted hereunder is exercisable (100% of number of shares)
at an exercise price per share equal to USD $10.00 (“Base Price”):
	  	450,000
		
	 Aggregate number of shares of Common Stock for which the Time Option granted hereunder is exercisable (100% of number of shares)
at an exercise price per share equal to USD $20.00:
	  	75,000
		
	 Aggregate number of shares of Common Stock for which the Performance Option granted hereunder is exercisable (100% of the number
of shares) at an exercise price per share equal USD $10.00:
	  	450,000
		
	 Aggregate number of shares of Common Stock for which the Performance Option granted hereunder is exercisable (100% of number of
shares) at an exercise price equal to USD $20.00:
	  	75,000

 [SIGNATURE PAGE OF STOCK OPTION AGREEMENT]Sale Participation Agreement dated February 2, 2007 with Susan D. Whiting

 Exhibit 10.10(f) 
 SALE PARTICIPATION AGREEMENT 
 February 2, 2007 
 To: The Person whose name is set forth on the signature page hereof 
 Dear
Sir or Madam: 
 You have entered into a Management Stockholder’s Agreement, dated as of the date hereof, between Valcon Acquisition
Holding B.V., a private company with limited liability incorporated under the laws of The Netherlands (the “Company”), and you (the “Management Stockholder’s Agreement”) relating to (i) the granting to you
by the Company of Options (as defined in the Management Stockholder’s Agreement) to acquire ordinary shares of the Company (the “Common Stock”) and (ii) the subscription by you for the Purchased Stock (as defined in the
Management Stockholder’s Agreement). The undersigned, Valcon Acquisition Holding (Luxembourg) S.á.r.l., a private limited company incorporated under the laws of Luxembourg (“Luxco”) and the direct parent of the Company,
controlled by investment funds associated with AlpInvest Partners, The Blackstone Group, The Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts & Co. and Thomas H. Lee Partners (together with any of its affiliates, to the
extent provided for in Paragraph 8 hereof, the “Selling Investors”), on behalf of the Selling Investors, hereby agrees with you as follows, effective upon such grant of Options: 
 1. In the event that at any time any Selling Investor proposes to sell for cash or any other consideration any shares of Common Stock owned by it
(directly or indirectly through the sale of Units (as defined in the Shareholders’ Agreement (the “Shareholders’ Agreement”) to be entered into by and among Luxco, Valcon Acquisition B.V. (as defined in the Management
Stockholder’s Agreement), the Company and investors party thereto, in the form provided to the Management Stockholder on the date hereof (subject to any amendments thereto to which the Management Stockholder has agreed in writing to be bound)),
in any transaction other than (i) Permitted Transfers (as defined in the Shareholders’ Agreement), (ii) a Public Offering (as defined in the Management Stockholder’s Agreement) or (iii) a sale to an affiliate of the Selling
Investors, the Selling Investors will notify you or your Management Stockholder’s Estate or Management Stockholder’s Trust (as such terms are defined in the Management Stockholder’s Agreement, and collectively with you, the
“Management Stockholder Entities”), as the case may be, in writing (a “Notice”) of such proposed sale (a “Proposed Sale”) and the material terms of the Proposed Sale as of the date of the Notice
(the “Material Terms”) promptly, and in any event not less than fifteen (15) days prior to the consummation of the Proposed Sale and not more than five (5) days after the execution of the definitive agreement relating to
the Proposed Sale, if any (the “Sale Agreement”). If, within ten (10) days after the Management Stockholder Entities’ receipt of such Notice, the Selling Investors receive from the Management Stockholder Entities a written
request (a “Request”) to include Common Stock held by the Management Stockholder Entities in the Proposed Sale (which Request shall be irrevocable unless (a) there shall be a material adverse change in the Material Terms or
(b) otherwise mutually agreed to in writing by the Management Stockholder Entities and the Selling Investor(s)), the Common Stock held by you will be so included as provided herein; provided  

 
that only one Request, which shall be executed by the Management Stockholder Entities, may be delivered with respect to any Proposed Sale for Common Stock
held by the Management Stockholder Entities. Promptly after the execution of the Sale Agreement, the Selling Investors will furnish the Management Stockholder Entities with a copy of the Sale Agreement, if any. 
 2. (a) The number of shares of Common Stock which the Management Stockholder Entities will be permitted to include in a Proposed Sale pursuant to a
Request will be the product of (i) the sum of the number of shares of Common Stock then owned by the Management Stockholder Entities (and held pursuant to the Management Stockholder’s Agreement) plus all shares of Common Stock which you
are then entitled to acquire under any unexercised portion of the Options, to the extent such Options are then exercisable or would become exercisable as a result of the consummation of the Proposed Sale, multiplied by (ii) a fraction
(A) the numerator of which shall be the aggregate number of shares of Common Stock proposed to be purchased by the buyer in the Proposed Sale and (B) the denominator of which shall be the total number of shares of Common Stock owned, or
which would be owned upon exercise of any exercisable Options (to the extent any such Options are then exercisable or would become exercisable as a result of the consummation of the Proposed Sale), by the Selling Investors, the Management
Stockholder Entities and other holders of shares of Common Stock who have been granted the same rights granted to the Management Stockholder Entities to participate in the Proposed Sale (an “Eligible Holder”), as the case may be.

 (b) If one or more Eligible Holders elect not to include the maximum number of shares of Common Stock which such holders would have been
permitted to include in a Proposed Sale pursuant to Paragraph 2(a) (such non-included shares, the “Eligible Shares”), then each of the Selling Investors, the Management Stockholder Entities or the remaining Eligible Holders, or any
of them, will have the right to sell in the Proposed Sale a number of additional shares of their Common Stock equal to their pro rata portion of the number of Eligible Shares, based on the relative number of shares of Common Stock then held
by each such holder plus all shares of Common Stock which each such holder would then be entitled to acquire under any unexercised portion of the Options, to the extent such Options are then exercisable or would become exercisable as a result of the
consummation of the Proposed Sale, and such additional shares of Common Stock which any such holder or holders propose to sell shall not be included in any calculation made pursuant to Paragraph 2(a) for the purpose of determining the number of
shares of Common Stock which the Management Stockholder Entities will be permitted to include in a Proposed Sale. 
 3. Except as may
otherwise be provided herein, shares of Common Stock subject to a Request will be included in a Proposed Sale pursuant hereto and in any agreements with purchasers relating thereto on the same terms and subject to the same conditions applicable to
the shares of Common Stock which the Selling Investors propose to sell in the Proposed Sale. Such terms and conditions shall include, without limitation: the pro rata reduction of the number of shares of Common Stock to be sold by the Selling
Investors, the Management Stockholder Entities and any Eligible Holders to be included in the Proposed Sale if required by the party proposing such Sale; the sale price; the form of consideration; the payment of fees, commissions and expenses; the
provision of, and representation and warranty as to, information reasonably requested by the Selling Investors covering matters regarding the Management Stockholder Entities’ ownership of shares; and the provision of requisite indemnification;
provided that any indemnification provided by the Management Stockholder Entities shall be a several and not joint obligation and pro rata in proportion with the number of shares of Common Stock to be sold. 
  

 2 

 4. Upon delivering a Request, the Management Stockholder Entities will, if requested by the Selling
Investors, execute and deliver a custody agreement and power of attorney in form and substance reasonably satisfactory to the Selling Investors with respect to the shares of Common Stock which are to be sold by the Management Stockholder Entities
pursuant hereto (a “Custody Agreement and Power of Attorney”). The Custody Agreement and Power of Attorney will contain customary provisions and will provide, among other things, that the Management Stockholder Entities will
irrevocably appoint said custodian and attorney-in-fact as the Management Stockholder Entities’ agent and attorney-in-fact with full power and authority to act under the Custody Agreement and Power of Attorney on the Management Stockholder
Entities’ behalf with respect to the matters specified therein. 
 5. The Management Stockholder Entities’ right pursuant hereto to
participate in a Proposed Sale shall be contingent on the Management Stockholder Entities’ strict compliance with each of the provisions hereof and the Management Stockholder Entities’ respective willingness to execute such documents in
connection therewith as may be reasonably requested by the Selling Investors. 
 6. (a) In the event of a Proposed Sale pursuant to
Section 1 hereof, the Selling Investors may elect, by so specifying in the Notice, to require the Management Stockholder Entities to, and the Management Stockholder Entities shall, participate in such Proposed Sale to the same extent calculated
pursuant to Paragraph 2(a) above, in accordance with the terms and provisions of Paragraph 3 hereof; provided, however, that in such event, the order in which the shares of Common Stock held by the Management Stockholder
Entities shall be required to be sold shall be: first, any shares of Common Stock then held by the Management Stockholder Entities that constitute Purchased Stock (as defined in the Management Stockholder’s Agreement); and second, any shares of
Common Stock acquired pursuant to the exercise of any exercisable Options. 
 (b) In the event of a transaction which results in a Change in
Control (as defined in the Management Stockholder’s Agreement) but is not a Proposed Sale in which the Selling Investors have exercised their rights pursuant to Paragraph 6(a) or the Management Stockholder Entities have exercised their rights
pursuant to Paragraph 1 (a “Proposed Transaction”), you agree on behalf of the Management Stockholder Entities, to bear, on a several and not joint basis, your pro rata share of any fees, commissions, adjustments to purchase
price, expenses or indemnities borne by the Selling Investors. 
 (c) Your pro rata share of any amount to be paid pursuant to
Paragraph 3 or Paragraph 6(b) shall be based upon the number of shares of Common Stock to be transferred by the Management Stockholder Entities plus the number of shares of Common Stock you would have the right to acquire under any unexercised
portion of the Options which are then vested or would become vested as a result of the Proposed Sale or Proposed Transaction, assuming that you receive a payment in respect of such unexercised portion of the Options. 
  

 3 

 7. The obligations of the Selling Investors hereunder shall extend only to the Management Stockholder
Entities, and none of the Management Stockholder Entities’ successors or assigns shall have any rights pursuant hereto. 
 8. If any of
the Selling Investors transfer any of their interests in the Company to an affiliate of any of the Selling Investors, as a condition precedent to such transfer, such affiliate shall agree in writing to assume the obligations hereunder of the Selling
Investors. 
 9. This Agreement may only be amended with the written consent of the parties hereto. This Agreement shall terminate and be of
no further force and effect upon the earlier to occur of (i) immediately after a Change in Control (as defined in the Management Stockholder’s Agreement) and (ii) the date on which the Selling Investors’ beneficial ownership
percentage (directly or indirectly) in the Company’s Common Stock is less than thirty-three and one-third percent (33 1/3%) of the amount of such ownership percentage as of August 22, 2006. 
 10. All notices and other communications provided for herein shall be in writing. Any notice or other communication hereunder shall be deemed duly given
(i) upon electronic confirmation of facsimile, (ii) one business day following the date sent when sent by overnight delivery and (iii) five (5) business days following the date mailed when mailed by registered or certified mail
return receipt requested and postage prepaid, in each case as follows: 
 If to the Selling Investors, to them at the following address:

 Valcon Acquisition Holding (Luxembourg) S.á.r.l. 
 59, rue de Rollingergrund 
 L-2440 Luxembourg 
 Grand Duchy of Luxembourg 
 Attention:
Wolfgang Zettel 
 with a copy to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 
 New York, New York 10017 
 Attention: John G.
Finley, Esq. 
 and: 
 VNU, Inc.

 770 Broadway 
 New York, NY
10003 
 Attention: James W. Cuminale, Esq. 
 and 
  

 4 

 Clifford Chance LLP 
 Droogbak 1A 1013 GE Amsterdam 
 The Netherlands 
 Telefax: +31 20 711 9999 
 Attention: Joachim
Fleury 
 If to the Company, to the Company at the following address: 
 Valcon Acquisition B.V. 
 Jachthavenweg 118

 1081 KJ Amsterdam 
 The
Netherlands 
 Tel.: +31 20 540 75 75 
 Fax.: +31 20 540 75 00 
 Attention: General Counsel 
 with a copies to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 
 New York, New York
10017 
 Attention: John G. Finley, Esq. 
 and 
 Clifford Chance LLP 
 Droogbak 1A 
 1013 GE Amsterdam 
 The Netherlands 
 Telefax: +31 20 711 9999 
 Attention: Joachim Fleury 
 VNU, Inc.

 770 Broadway 
 New York, NY
10003 
 Attention: James W. Cuminale, Esq. 
 If to you, at the address first set forth in the Stockholders Agreement; 
 If to your Management
Stockholder’s Estate or Management Stockholder’s Trust, to the address provided to the Company by such entity; 
  

 5 

 or at such other address as any of the above shall have specified by notice in writing delivered to the others by
certified mail. 
 11. The laws of the State of New York shall govern the interpretation, validity and performance of the terms of this
Agreement, except to the extent that the issue or transfer of Stock shall be subject to mandatory provisions of the laws of The Netherlands. Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively
by arbitration, conducted before an arbitrator in New York, New York, in accordance with the rules of the American Arbitration Association then in effect. Only individuals who are (a) lawyers engaged full-time in the practice of law, as
in-house counsel or as a professor of law; and (b) on the AAA register of arbitrators shall be selected as an arbitrator. Within twenty (20) days of the conclusion of the arbitration hearing, the arbitrator shall prepare written findings
of fact and conclusions of law. It is mutually agreed that the written decision of the arbitrator shall be valid, binding, final and non-appealable; provided however, that the parties hereto agree that the arbitrator shall not be
empowered to award punitive damages against any party to such arbitration. In the event that an action is brought to enforce the provisions of this Agreement pursuant to this Section 11, (x) if the arbitrator determines that the Management
Stockholder Entities is the prevailing party in such action, the Company shall be required to pay the reasonable attorney’s fees and expenses of the Management Stockholder Entities in connection with such arbitration, as well as the
arbitrator’s full fees and expenses and (y) if the Company prevails in such action or if, in the opinion of the court or arbitrator deciding such action, there is no prevailing party, each party shall pay his or its own attorney’s
fees and expenses and the arbitrator’s fees and expenses will be borne equally by the parties thereto. 
 12. This Agreement may be
executed in counterparts, and by different parties on separate counterparts, each of which shall be deemed an original, but all such counterparts shall together constitute one and the same instrument. 
 13. It is the understanding of the undersigned that you are aware that no Proposed Sale is contemplated and that such a sale may never occur. 

[Signatures on next page] 
  

 6 

 If the foregoing accurately sets forth our agreement, please acknowledge your acceptance thereof in the
space provided below for that purpose. 
  

			
	Very truly yours,
	
	VALCON ACQUISITION HOLDING (LUXEMBOURG) S.Á.R.L.
		
	By:	 	/s/ Authorized Signatory
		 	Name:
		 	Title: A Director
		
	By:	 	/s/ Authorized Signatory
		 	Name: Scott Schoen
		 	Title: B Director

  

	
	Accepted and agreed this 2nd day of February 2007.
	
	/s/ Susan D. Whiting
	Susan D. Whiting

 Sale Participation Agreement Signature Page 
  

 7

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