Document:

2018 DIRECTOR STOCK PLAN

    

    

    

    

    
      	
              1.

            	
              Purposes.  The

                  purposes of the 2018 Director Stock Plan (the “Director Plan”) are to (a) attract and retain highly qualified individuals to serve as directors of John Wiley & Sons, Inc. (the “Company”) and (b) to increase the Non-Employee Directors’
                  (as defined below) stock ownership in the Company.

            

    

    
      	
              2.

            	
              Effective
                    Date. Provided that it is approved by the shareholders, the Director Plan shall be effective as of September 27, 2018.
                  Following such approval, no further grants shall be made pursuant to the 2014 Director Stock Plan.

            

    

    
      	
              3.

            	
              Participation. 

                  Only Non-Employee Directors shall be eligible to participate in the Director Plan.  A “Non-Employee Director” is a person who is serving as a director of the Company and who is not an employee of the Company or any subsidiary or
                  affiliate of the Company.

            

    

    
      	
              4.

            	
              Shares
                    Subject to the Plan.  Subject to adjustment as provided in Section 10 below, no more than an aggregate of 200,000 shares of Class A Common Stock (the “Common Stock”) shall be delivered to Non-Employee Directors or their
                  beneficiaries under the Director Plan, which shall be treasury shares.  All shares awarded under the Director Plan will be charged against the total available for grant.

            

    

    
      	
              5.

            	
              Restricted
                    Stock Grant.  Beginning with the Annual Meeting held in September 2018, and as soon as practicable after every subsequent Annual Meeting, each Non-Employee Director shall receive a grant of restricted shares of the Company’s
                  Common Stock, rounded upward or downward to the nearest whole share,  with a value of no more than $110,000, which such shares shall vest as provided herein. If a Non-Employee Director becomes a director between Annual Meetings, the value
                  of the shares shall be proportionately reduced to reflect the Non-Employee Director’s actual days of service during this period.  If a Non-Employee Director has elected to defer receipt of the shares under the Deferred Compensation Plan
                  for Directors (or any successor plan), the grant will be in the form of deferred stock rather than shares of the Company’s Common Stock and shall be subject to the same vesting terms as specified herein. The value of the Common Stock or
                  deferred stock for purposes of this paragraph shall be determined as of the date of the just concluded Annual Meeting and shall be equal to the closing price for the Common Stock as reported by any primary exchange on which the Common
                  Stock may be listed on such date or, if no shares of the Common Stock were traded on such date, on the next preceding date on which the Common Stock was traded.  The grant shares may not be sold or transferred during the time the
                  Non-Employee Director remains a Director, but may be sold or transferred in the case of death or disability of the Non-Employee Director. Notwithstanding the first sentence of this Section 5, prior to the grant date at Annual Meetings
                  following the 2018 Annual Meeting, the Governance Committee shall have the right to make adjustments to the amount of the grant share value, so long as the aggregate value of such shares granted with respect to any Annual Meeting does not
                  exceed $300,000 per director (excluding for this purpose the value of any dividend equivalents credited on deferred stock and the value of any grants pursuant to an election to receive shares in lieu of cash as described in Section 8
                  below).The Governance Committee may grant additional awards to the Chairman of the Board, or may elect to provide a cash equivalent in lieu of the Director stock award and any additional restricted share award to the Chairman of the
                  Board.

            

    

    
      	
              6.

            	
              Vesting. 

                  The shares granted pursuant to Section 5 shall vest on the earliest of (i) the day before the next Annual Meeting following the grant, (ii) the Non-Employee Director’s death or disability (as determined by the Governance Committee), or
                  (iii) a Change in Control (as defined in the 2014 Key Employee Stock Plan) (each a “Vesting Event”).  Unless the Board or the Governance Committee determines otherwise in its sole discretion, the grant shall be forfeited if the
                  Non-Employee Director’s service terminates for any reason before a Vesting Event.  Unless otherwise determined by the Governance Committee, any dividends paid on shares of Common Stock will be paid with respect to the granted shares at
                  the same time and in the same manner as such dividends are paid generally.

            

    

    
      	
              7.

            	
              Cash
                    Compensation.  In addition, the amount of cash compensation paid or payable by the Company to a Non-Employee Director with respect to any calendar year shall be $100,000 (with additional cash compensation of $15,000 for committee
                  chair ships for Audit, Executive Compensation and Development, and Governance Committees), which such cash compensation shall be pro-rated for the year an individual first becomes a Non-Employee Director.   The Board or the Governance
                  Committee may reallocate the cash compensation and grant of restricted shares of Common Stock referenced in Section 5 as long as the total aggregate value remains unchanged (for example, $150,000 of stock grants and $60,000 of base cash
                  compensation. Notwithstanding the first sentence of this Section 7, the Governance Committee or the Board shall have the right to make adjustments to the annual cash compensation amount, so long as the cash payment to a Non-Employee
                  Director does not exceed $200,000 per director in a calendar year. The Governance Committee may also grant additional cash compensation to the Chairman of the Board.

            

    

    
      	
              8.

            	
              Election to
                    Receive Stock in Lieu of Eligible Cash Fees.  Subject to the terms and conditions of the Director Plan, each Non-Employee Director may elect to receive shares of Common Stock or deferred stock (rounded upward or downward to the
                  nearest whole share) in lieu of all or a portion of the cash compensation otherwise payable for services to be rendered by such Non-Employee Director during each calendar year that begins after the date on which such election is made.  
                  This election may be made in increments of 25%, 50%, 75% or 100% of such compensation, as determined in accordance with Section 9 below.    An election under this Section 8 to have cash compensation paid in shares of Stock shall be valid
                  only if it is in writing, signed by the Non-Employee Director, and filed with the Corporate Secretary of the Company. The election must be irrevocable with respect to the calendar year to which it applies and must be made no later than
                  the last day of the previous calendar year and, to the extent Sections 409A of the Internal Revenue Code applies, in accordance with the requirements thereof.    Common Stock to be received by a Non-Employee Director pursuant to his or
                  her election shall be distributed to such Non-Employee Director on each cash payment date. For purposes of this paragraph, cash compensation shall mean the Non-Employee Director’s annual retainer fee and the additional retainer fee
                  received by committee chairmen.

            

    

    
      	
              9.

            	
              Equivalent
                    Amount of Stock.  The number of whole shares of Common Stock to be distributed or allocated (if deferred stock) to a Non-Employee Director in accordance with the Non-Employee Director’s election made under Section 8 above shall
                  be equal to:

            

    

    (a) the amount of the cash compensation which the Non-Employee Director has
        elected to forego in exchange for shares of Stock, divided by

    (b) the closing price for the Common Stock as reported by any exchange on which
        the Common Stock may be listed on the date of the regularly scheduled quarterly meeting of the Board of Directors or, if no shares of Common Stock were traded on such date, on the next preceding date on which the Common Stock was traded.

    
      	
              10.

            	
              Change in
                    Capital Stock.  The total number of shares of Common Stock that may be issued under the Director Plan shall be appropriately adjusted for any change in the outstanding shares of Common Stock through recapitalization, stock split,
                  stock dividend, extraordinary cash dividend or other change in the corporate structure, or through merger or consolidation in which the Company is the surviving corporation.  The Board in its discretion will determine such adjustments and
                  the manner of application.

            

    

    
      	
              11.

            	
              Nonassignability. 

                  No rights under the Director Plan shall be assignable or transferable by a Non-Employee Director other than by will or the laws of descent and distribution

            

    

    
      	
              12.

            	
              Legal
                    Requirements.  The issuance of shares pursuant to the Director Plan and the subsequent transfer of such shares shall be conditioned upon compliance with the listing requirements of any securities exchange upon which the Stock may
                  be listed, the requirements of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the requirements of applicable state laws relating to authorization, issuance or sale of securities.  The Board
                  may take such measures as it deems desirable to secure compliance with the foregoing.

            

    

    
      	
              13.

            	
              Administration. 

                  The Board shall administer and interpret the Director Plan in its sole discretion.

            

    

    
      	
              14.

            	
              Construction;
                    Amendment; Termination.  The Director Plan shall be construed in accordance with the laws of the State of New York, and may be amended by action of the Board and approval of the shareholders (to the extent such approval is
                  required by applicable law or the rules of the stock market or exchange, if any, on which the shares of Common Stock are principally quoted or traded), or terminated at any time by action of the Board.

            

    

    Approved by the Board of Directors—June 20, 2018, amended by the Board of
        Directors on March 20, 2019September 26, 2016

    

    

    Judy Verses

    

    

    Dear Judy:

    

    

    I am very pleased to confirm our offer of employment with John Wiley & Sons, Inc. as EVP, Research, contingent upon a satisfactory
        background check.

    

    

    As discussed, your employment date will be on or about October 24-, 2016.  Your salary will be $17,083.33 semi-monthly, equivalent to $410,000
        annually.

    

    

    For fiscal year 2017 (“FY17”), which began on May 1, 2016, you will be eligible to participate in the Executive Annual Incentive Plan (“EAIP”),
        with a target incentive equal to $250,000.  Payout may range between 50% and 150% based on achievement of corporate and Research financial goals and strategic milestones, and $150,000 of that amount will be guaranteed.

    

    

    Beginning in fiscal year 2018 (“FY18”), your target incentive under the EAIP will be equal to 75% of your base salary in effect for that fiscal
        year.  Payout may range between 50% and 150% based on achievement of corporate and Research financial goals and strategic milestones.  There is no payout of the EAIP if achievement of financial goals and strategic milestones is below the threshold
        level. All payouts under the EAIP are subject to and in accordance with plan provisions.

    

    

    You will receive a sign-on bonus of $50,000 payable within 90 days of hire, subject to taxes and other withholding.  You will be required to pay
        back the sign-on bonus if you leave the Company voluntarily within one year of your hire date.

    

    

    Beginning with the FY2017-19 performance cycle, which began on May 1, 2016, you will be eligible to participate in the Company’s Executive
        Long-Term Incentive Program (“ELTIP”).  Your targeted long-term incentive for this cycle is $500,000.  Sixty percent of your ELTIP value is delivered in the form of target performance share units and forty percent in restricted share units using a
        ten-day average stock price in June when grants are made.  Payout of restricted performance share units under the Plan is based on achievement of corporate financial metrics for the cycle, currently three-year cumulative EBITDA and three-year
        cumulative free cash flow. The payout range is 50% for threshold level financial achievement and 150% for outstanding level financial achievement.  There is no payout of the restricted performance share units if financial performance is below the
        threshold level.  All payouts under the ELTIP are subject to and in accordance with plan provisions.

    

    

    As an executive officer, your compensation is based upon the recommendation of the President and CEO and subject to approval by the Executive
        Compensation and Development Committee of the Board of Directors. All compensation is subject to withholding and payroll taxes.

    

    

    We will provide temporary housing for up to sixty days in Hoboken while you look for housing in the NJ metropolitan area. In addition, we will
        provide lease break support and reimbursement for shipment of household goods, if needed, up to a maximum of $20,000.

    

    

    You will be eligible to participate in Wiley's benefits plans in accordance with Company policy.

    

    

    Beginning calendar year 2017, you will be eligible for twenty-nine (29) days of paid time off plus two floating holidays. Paid time off accrual
        and scheduling will be in accordance with Company policy.

    

        While we look forward to a mutually beneficial relationship, your employment is "at-will."  This offer letter is not a contract and does not guarantee any employment duration, terms, or conditions. Should your employment be involuntarily
        terminated without cause or due to constructive discharge, you will receive as severance one month of base salary for each year of service subject to a minimum of twelve months and a maximum of eighteen months.  In the event your employment is
        involuntarily terminated without cause or due to constructive discharge within 24 months of a change in control, you will receive as severance eighteen months of base salary plus your target annual incentive.  All severance outlined herein will be
        in accordance with the Executive Severance Plan, and is subject to your signing a release and waiver of claims and compliance with non-competition, non-solicitation, non-disclosure and non-disparagement restrictive covenants.

    

    

    Judy, I know that you will contribute significantly to the success of the Company. I am sure you will find this position challenging and
        rewarding, and I look forward to working with you.

    

    

    Please sign and return this letter to me at the address noted.

  

  

  

  Sincerely,               Acknowledged and Agreed:

  

  

  

  	
          /s/ Archana Singh

        	 	
          /s/ Judy Verses

        	 
	
          Archana Singh

        	 	
          Judy Verses

        	 
	
          EVP and Chief Human Resources Officer

        	 	 	 
	 	 	
          Date : September 26, 2016

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