Document:

Exhibit 4.3

 Exhibit 4.3 

PERFORMANCE INCENTIVE STOCK PLAN 
 The CMS
Energy Corporation Performance Incentive Stock Plan, first effective February 3, 1988, is hereby set forth as amended and restated effective November 14, 2013. 

Article I. Purpose 
 The CMS Energy Corporation
Performance Incentive Stock Plan (hereinafter called the “Plan”) is a Plan to provide incentive compensation to Eligible Persons, based upon such Eligible Persons’ individual contributions to the long-term growth and profitability of
the Corporation, and in order to encourage such Eligible Persons to identify with shareholder concerns and their current and continuing interest in the development and financial success of the Corporation. Because it is expected that the efforts of
the key employees or Directors selected for participation in the Plan will have a significant impact on the results of the Corporation’s operations in future years, the Plan is intended to assist the Corporation in attracting and retaining as
key employees or Directors individuals of superior ability and in motivating their activities on behalf of the Corporation. 
 Article II.
Definitions 
 2.1 Definitions: When used in the Plan, the following words and phrases shall have the following meanings: 

 

	 	a.	“Affiliate” has the meaning set forth in Rule 12b-2 under the United Sates Securities Exchange Act of 1934, as amended. 

  

	 	b.	“Appreciation Value” means the increase in the value of a Phantom Share awarded to a Participant and as described in Section 8.1. 

 

	 	c.	“Award Period” means the period or periods of time relating to any restrictions imposed by the Committee with respect to Common Stock awarded under Article VII. Such period of time shall extend for a period of
at least twelve months from and after the date of the award, provided however, that for shares subject only to time based vesting such period of time shall extend for a period of at least thirty-six months from and after the date of the award.

  

	 	d.	“Beneficiary” means the beneficiary or beneficiaries designated to receive the amount, if any, payable under the Plan upon the death of a Participant. A beneficiary designation shall not be applicable to
grants under Article VI. 

  

	 	e.	“Board” means the Board of Directors of the Corporation. 

  

	 	f.	“Change in Control” means, for individuals who have a written agreement including a change in control provision, whatever meaning was given in such agreement. For other individuals, the phrase shall have the
meaning shown on Attachment A. 

  

	 	g.	“Code” means the Internal Revenue Code of 1986, as amended. 

  

	 	h.	“Committee” means the Compensation and Human Resources Committee of the Board, which shall be comprised in such a manner to comply with the requirements, if any, of the New York Stock Exchange or other
applicable stock markets, Rule 16b-3 (or any successor rule) under the Securities Exchange Act of 1934, as amended, and Section 162(m) of the Code. 

  

	 	i.	“Common Stock” means the Common Stock of the Corporation as authorized for issuance in its Articles of Incorporation at the time of an award or grant under this Plan. 

 

	 	j.	“Corporation” means CMS Energy Corporation, its successors and assigns, and each of its Subsidiaries, or any of them individually. 

 

	 	k.	“Director” means any person who is a member of the Board of Directors of the Corporation or a Subsidiary. 

  

	 	l.	“Eligible Person” means an officer, a key employee or Non-Employee Director. A key employee must at the end of the fiscal year be a regular full-time salaried employee of the Corporation or a Subsidiary.

	 	m.	“Incentive Option” means an option to purchase Common Stock of the Corporation which meets the requirements set forth in the Plan and also meets the definition of an Incentive Stock Option set forth in
Section 422 of the Code. 

  

	 	n.	“Non-Employee Director” means a member of the Board of Directors of the Corporation or a Subsidiary who is not currently an employee of the Corporation or a Subsidiary and has not been an employee of the
Corporation or a Subsidiary within the preceding 3 years. 

  

	 	o.	“Nonqualified Option” means an option to purchase Common Stock of the Corporation which meets the requirements set forth in the Plan but does not meet the definition of an Incentive Stock Option set forth in
Section 422 of the Code. 

  

	 	p.	“Officers Incentive Compensation Plan” means the incentive compensation plan, including any amendments thereto, authorized and approved by the Board to provide incentive compensation to the Officers of the
Corporation or a Subsidiary. 

  

	 	q.	“Optionee” means any person to whom an option or right has been granted or who becomes a holder of an option or right under Article VI of the Plan. 

 

	 	r.	“Participant” means a person to whom a grant or award has been made which has not been paid, forfeited, or otherwise terminated or satisfied under the Plan. 

 

	 	s.	“Performance Criteria” are the factors used by the Committee (on an absolute or comparative basis) to establish goals to track business measures such as net earnings; operating earnings or income; earnings
growth; net income; cash flow (including operating cash flow, free cash flow, discounted cash flow return on investment, and cash flow in excess of cost of capital); earnings per share; stock price; total shareholder return; absolute and/or relative
return on common shareholders equity; return on shareholders equity; return on capital; return on assets; economic value added (income in excess of cost of capital); customer satisfaction; expense reduction; sales; or ratio of operating expenses to
operating revenues. 

  

	 	t.	“Performance Period” for purposes of Article VII means for any time based condition award the time period required to provide service to the Corporation and means for any performance based condition award the
time period over which the Performance Criteria is measured. 

  

	 	u.	“Performance Unit” means a contractual right granted to a Participant pursuant to Article VIII to receive a designated dollar value equal to the value established by the Committee and subject to such terms and
conditions as are set forth in this Plan and the applicable grant. 

  

	 	v.	“Phantom Share” means a contractual right granted to a Participant pursuant to Article VIII to receive an amount equal to the Appreciation Value at such time, and subject to such terms and conditions as are
set forth in this Plan and the applicable grant. 

  

	 	w.	“Restricted Common Stock” means Common Stock delivered subject to the restrictions described in Article VII. 

  

	 	x.	“Restrictions” for purposes of Article VII includes any time based and/or performance based conditions on vesting. 

  

	 	y.	“Shareholders” means the shareholders of the Corporation. 

  

	 	z.	“Stock Appreciation Right” shall mean a right to receive the appreciation in value of the optioned shares over the option price. 

 

	 	aa.	“Stock Option” means an option to purchase shares of Common Stock at a specified price, granted pursuant to Article VI of this Plan. 

 

	 	bb.	“Subsidiary” means a corporation, domestic or foreign, 50 percent or more of the voting stock of which is owned directly or indirectly by the Corporation. 

 

	 	cc.	“Valuation Date” means the date or dates established by the Committee at the time of grant of Phantom Stock, when the Appreciation Value is determined. 

  
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 Article III. Effective Date, Duration, Scope and Administration of the Plan 

 

	3.1	Effective Date: This Plan shall be effective June 1, 2009, conditioned upon approval of the shareholders of the Corporation, and shall continue until May 31, 2014. 

 

	3.2	Administration: The Committee shall have full power and authority to construe, interpret and administer the Plan. All decisions, actions or interpretations of the Committee shall be final, conclusive and binding
upon all parties. If any Participant or Optionee objects to any such interpretation or action formally or informally, the expenses of the Committee and its agents and counsel shall be chargeable against any amounts otherwise payable under the Plan
to or on account of the Participant or Optionee. 

  

	3.3	Indemnification: No member of the Committee shall be personally liable by reason of any contract or other instrument executed by him or on his behalf in his capacity as a member of the Committee nor for any
mistake of judgment made in good faith, and the Corporation shall indemnify and hold harmless each member of the Committee and each other officer, employee or Director of the Corporation to whom any duty or power relating to the administration or
interpretation of the Plan may be allocated or delegated, against any cost or expense (including counsel fees) or liability (including any sum paid in settlement of a claim with the approval of the Board) arising out of any act or omission to act in
connection with the Plan unless arising out of such person’s own fraud or bad faith. 

 Article IV. Participation, Awards
and Grants 
  

	4.1	Participation: Each year the Committee shall designate as Participants and/or Optionees in the Plan those Eligible Persons who, in the opinion of the Committee, have significantly contributed to the Corporation.

  

	4.2	Awards and Grants: Each year, the Committee may award shares of Common Stock, and/or may grant Phantom Shares, Performance Units, Incentive Options, Stock Options and/or Stock Appreciation Rights to each Eligible
Person whom it has designated as an Optionee or Participant for such year. No Incentive Option will be granted to an Eligible Person who is not a full or part-time employee of the Corporation or a subsidiary of the Corporation. 

 

	4.3	Awards and Grants to Foreign Nationals: Awards of Common Stock and grants of Stock Options (with or without Stock Appreciation Rights), Phantom Shares or Performance Units may be made, without amending the Plan,
to Eligible Persons who are foreign nationals or employed outside the United States or both, on such terms and conditions different from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable to further the
purposes of the Plan or to accommodate differences in local law, tax policy or custom. Moreover, the Committee may approve such supplements to or alternative versions of the Plan as it may consider necessary or appropriate for such purposes without
thereby affecting the terms of the Plan as in effect for any other purpose; provided, however, no such supplement or alternative version shall: (a) increase the number of available shares of Common Stock under Section 5.1; or
(b) increase the limitations contained in Section 5.3. 

 Article V. Shares Reserved Under the Plan 

 

	5.1	Shares Reserved: There is hereby reserved for award under this Plan 6 million whole shares of Common Stock, less the number of shares awarded, granted or purchased under the provisions of this Plan which
have not been forfeited. To the extent permitted by law or the rules and regulations of any stock exchange on which the Common Stock is listed, shares of Common Stock with respect to which payment or exercise is in cash as well as any shares or
options which are forfeited may thereafter again be awarded or made subject to grant under the Plan. The number of shares made available for option and sale under Article VI of this Plan plus the number of shares awarded under Article VII of this
Plan plus the number of shares awarded or purchased under Article VIII of this Plan will not exceed, at any time, the number of shares of Common Stock reserved pursuant to this Article V. 

 

	5.2	 Exchange of Shares: If a dividend shall be declared upon the Common Stock payable in shares of Common Stock, the number of shares of Common
Stock then subject to any such option and the number of shares reserved for issuance pursuant to the Plan but not yet covered by an option shall be adjusted by adding to each such option or share the number of shares which would be distributable
thereon if such share had been outstanding on the date fixed for determining the shareholders entitled to receive such stock dividend. In the event that the outstanding shares of the Common Stock shall be changed into or exchanged for a different
number or kind of shares of stock or other securities of CMS Energy Corporation or of another corporation, whether through reorganization, recapitalization, stock split-up, combination of shares, merger or consolidation or otherwise, then there
shall be substituted for each share of Common Stock reserved for issuance pursuant to the Plan but not yet covered by an option or grant, the number and kind of shares of stock or other securities into which each outstanding share of Common Stock
shall be so changed or for which each such share shall be exchanged. In the event there shall be any change, other than as specified above in this Section 5.2, in the number or kind of outstanding shares of Common Stock of the Corporation or of
any stock or other securities 

  
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into which such Common Stock shall have been changed or for which it shall have been exchanged, then if the Committee shall in its sole discretion determine that such change equitably requires an
adjustment in the number or kind of shares theretofore reserved for issuance pursuant to the Plan but not yet covered by an option or grant, such adjustment shall be made by the Committee and shall be effective and binding for all purposes of the
Plan. No adjustment or substitution provided for in this Section 5.2 shall require the Corporation in any Stock Option agreement to sell a fractional share, and the total substitution or adjustment with respect to each Stock Option agreement
shall be limited accordingly. 

  

	5.3	Grant Limits: The combined maximum shares awarded or granted for any one Eligible Person for any one year under this Plan, excluding any Performance Units awarded under Section 8.2, will not exceed 500,000
shares of Common Stock. Not more than 10% of the total shares reserved for award under this Plan shall be granted to Non-Employee Directors. 

Article VI. Stock Options and Stock Appreciation Rights 
  

	6.1	Options: The Committee may from time to time authorize a grant of Stock Options on Common Stock, which may consist in whole or in part of the authorized and unissued Common Stock of the Corporation.

  

	6.2	Optionees: The Committee shall determine and designate from time to time, in its discretion, those Eligible Persons to whom Stock Options and Stock Appreciation Rights are to be granted and who thereby become
Optionees under the Plan. 

  

	6.3	Allotment of Shares: The Committee shall determine and fix the number of shares of Common Stock subject to options to be offered to each Optionee. In the event of any exchange of shares as described in
Section 5.2, any outstanding shares subject to Option and/or Stock Appreciation Rights hereunder shall be also subject to the same substitution or adjustment as provided for in Section 5.2. 

 

	6.4	Option Price: The Committee shall establish the option price at the time any option is granted at not less than 100% of the fair market value of the stock on the date on which such option is granted; provided,
however, that with respect to an Incentive Option granted to an employee who at the time of the grant owns (after applying the attribution rules of Section 425(d) of the Code) more than 10% of the total combined voting stock of the Corporation
or of any parent or Subsidiary, the option price shall not be less than 110% of the fair market value of the stock subject to the Incentive Option on the date such option is granted. In no event shall Options previously granted under this Plan be
re-priced by reducing the exercise price thereof, nor shall Options previously granted under this Plan be cancelled and replaced by a subsequent re-grant under this Plan of Options having an exercise price lower than the options so cancelled.
Notwithstanding the above, in the event of any exchange of shares as described in Section 5.2, the value of the award shall be preserved in that the option price in each Stock Option agreement for each share covered thereby prior to
substitution or adjustment will be the option price for all shares of stock or other securities which shall have been substituted for such share or to which such share shall have been adjusted. If such reorganization, recapitalization, merger or
consolidation involves a cash payment or a combination of a cash payment and shares, the Committee shall take such action as in its judgment will effectively preserve the current value, if any, of the Stock Option agreement on the date of the
reorganization, recapitalization, merger or consolidation. Any such adjustment with respect to each Stock Option or Stock Appreciation Right shall be consistent with the requirements applicable to exempt stock rights under Section 409A of the
Code and applicable regulations. Any adjustment with respect to Incentive Options shall also conform to the requirements of Section 422 of the Code. 

  

	6.5	Stock Appreciation Rights: At the discretion of the Committee, any Stock Option granted under this Plan may, at the time of such grant, include a Stock Appreciation Right. A Stock Appreciation Right shall pertain
to, and be granted only in conjunction with, a related underlying Stock Option, and shall be exercisable only at the time and to the extent the related underlying Stock Option is exercisable and only if the fair market value of the Common Stock of
the Corporation exceeds the Stock Option price in the related underlying Stock Option. An Optionee who is granted a Stock Appreciation Right may elect to surrender the related underlying Stock Option with respect to all or part of the number of
shares subject to the related underlying Stock Option and exercise in lieu thereof the Stock Appreciation Right with respect to the number of shares as to which the Stock Option is surrendered. 

The exercise of the underlying Stock Option shall terminate the related Stock Appreciation Right to the extent of the number of shares
purchased upon exercise of the underlying Stock Option. The exercise of a Stock Appreciation Right shall terminate the related underlying Stock Option to the extent of the number of shares with respect to which the Stock Appreciation Right is
exercised. Upon exercise of a Stock Appreciation Right, an Optionee shall be entitled to receive, without payment to the Company (except for applicable withholding taxes), an amount equal to the excess of (i) the then aggregate fair market
value of the number of shares with respect to which the Optionee exercises the Stock Appreciation Right, over (ii) the aggregate Stock Option price per share for such number of shares. Such amount may be paid by the Corporation, in cash, Common
Stock of the Corporation or any combination thereof. 

  
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 Notwithstanding the above, the Committee may grant Stock Appreciation Rights that are not in
conjunction with a related underlying Stock Option. The basis used in determining any increase in the value of the Common Stock under such Stock Appreciation Right shall be not less than 100% of the fair market value of the Common Stock on the date
of grant. To the extent, if any, that the Committee elects to grant such Stock Appreciation Rights, then the grant shall in all respects conform in writing with all requirements of 409A, including, without limitation, a definite valuation/vesting
date for determining the value of the Stock Appreciation Right. 
  

	6.6	Granting and Exercise of Stock Options and Stock Appreciation Rights: The granting of Stock Options and Stock Appreciation Rights hereunder shall be effected in accordance with determinations made by the
Committee pursuant to the provisions of the Plan, by execution of instruments in writing in form approved by the Committee. Any grants of Stock Options and Stock Appreciation Rights shall be made in accordance with any applicable legal requirements
of any Federal or state securities laws and in making determinations of legal requirements the Committee may relay on an opinion of counsel for the Corporation. 

Each Stock Option and Stock Appreciation Right granted hereunder shall be exercisable at any such time or times or in any such installments as
may be determined by the Committee at the time of the grant, subject to the limitation that for each Incentive Option and related Stock Appreciation Right granted, a maximum of $100,000 (based on the price at the date of grant) may be exercised per
year, plus any unused carry-over from a previous year(s). 
  

	6.7	Payment of Stock Option Price: At the time of the exercise in whole or in part of any Stock Option granted hereunder, payment of the option price in full in cash or in Common Stock of the Corporation shall be
made by the Optionee for all shares so purchased. No Optionee shall have any of the rights of a Shareholder of the Corporation under any such Stock Option until the actual issuance of shares to said Optionee, and prior to such issuance no adjustment
shall be made for dividends, distributions or other rights in respect of such shares, except as provided in Section 5.2. 

  

	6.8	Nontransferability of Stock Options and Stock Appreciation Rights: No Stock Option or Stock Appreciation Right granted under the Plan to an Optionee shall be transferable by such Optionee otherwise than by will,
pursuant to a valid Domestic Relations Order which limits the rights of the alternate payee to those available to the Optionee, or by the laws of descent and distribution except that the Optionee may transfer to an immediate family member or a
family trust for estate planning purposes, and such Stock Option and Stock Appreciation Right shall be exercisable, during the lifetime of the Optionee, only by the Optionee or by a member of such Optionee’s immediate family or by the family
trust. 

  

	6.9	Term of Stock Options and Stock Appreciation Rights: If not sooner terminated, each Stock Option and Stock Appreciation Right granted hereunder shall expire not more than ten years from the date of the granting
thereof; provided, that with respect to an Incentive Option and a related Stock Appreciation Right granted to an Optionee who, at the time of the grant, owns (after applying the attribution rules of Section 425(d) of the Code) more than 10% of
the total combined voting stock of all classes of stock of the Corporation or of any parent or Subsidiary, such Incentive Option and Stock Appreciation Right shall expire not more than five years after the date of granting thereof.

  

	6.10	Termination of Employment: If the employment of an Optionee by the Corporation shall be terminated due to either the voluntary resignation of the employee or for cause, any outstanding Stock Option or Stock
Appreciation Right granted to such Optionee shall terminate. If the employment of an Optionee shall be terminated due to the Optionee’s death, any Stock Option or Stock Appreciation Right, transferred to a family trust or by will or by the laws
of descent and distribution, may be exercised for one year following the date of the Optionee’s death. If the employment of an Optionee shall otherwise terminate such as due to dismissal, a reorganization, retirement from active employment or
service with the Corporation after age 55, or the disability of the Optionee, the Optionee may exercise any outstanding Stock Option or Stock Appreciation Right for one year following the date of the termination of employment. In such event, except
upon the disability of the Optionee, any outstanding Incentive Option or related Stock Appreciation Right may be exercised for only three months following an Optionee’s termination of employment. Notwithstanding the foregoing, any Stock Option,
Incentive Stock Option or Stock Appreciation Right, the exercise of which has been extended pursuant to this Section 6.10, shall immediately terminate upon the Optionee’s acceptance of an offer of employment with a competitor of the
Corporation as determined by the Committee in its sole discretion. In no event, however, shall a Stock Option or Stock Appreciation Right be exercisable subsequent to its expiration date and, furthermore, a Stock Option or Stock Appreciation Right
may only be exercised after termination of an Optionee’s employment to the extent exercisable on the date of termination of employment. 

  
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	6.11	Termination of Service: If a Non-Employee Director ceases to be a member of the Board for any reason, the Non-Employee Director may exercise any Option or related Stock Appreciation Right for one year following
such termination of service. In no event, however, shall a Stock Option or Stock Appreciation Right be exercisable subsequent to its expiration date and, furthermore, a Stock Option or Stock Appreciation Right may only be exercised after termination
of an Optionee’s service to the extent exercisable on the date of termination of service. 

  

	6.12	Investment Purpose: Any shares of Common Stock subject to option under the Plan may be made subject to such other restrictions as the Committee deems advisable, including without limitation provisions to comply
with Federal and state securities laws. In making determinations of legal requirements the Committee shall rely on an opinion of counsel for the Corporation. 

  

	6.13	Withholding Payments: If upon the exercise of a Nonqualified Option and/or a Stock Appreciation Right or as a result of a disqualifying disposition (within the meaning of Section 422 of the Code) of shares
acquired upon exercise of an Incentive Option, there shall be payable by the Corporation any amount for income tax withholding, either the Corporation shall appropriately reduce the amount of stock or cash to be paid to the Optionee or the Optionee
shall pay such amount to the Corporation to reimburse it for such income tax withholding. 

  

	6.14	Restrictions on Sale of Shares: If, at the time of exercise of any Stock Option or Stock Appreciation Right granted hereunder, the Corporation is precluded by any legal, regulatory or contractual restriction from
selling and/or delivering shares pursuant to the terms of such Stock Option or Stock Appreciation Right, the sale and delivery of the shares may be delayed until the restrictions are resolved and only cash may be paid upon exercise of the Stock
Appreciation Right. At any time during such delay, the Committee, in its discretion, may permit the Optionee to revoke a Stock Option exercise, in which event any corresponding Stock Appreciation Right shall be reinstated. 

Article VII. Restricted Common Stock 
  

	7.1	Awards: The Committee may from time to time award Restricted Stock to any Eligible Person it has designated as a Participant for such year. Awards shall be made to Eligible Persons in accordance with such rules
as the Committee may prescribe. The Committee may also award Restricted Stock conditioned on the attainment of a performance goal that relates to Shareholder return, measured by Performance Criteria as determined by the Committee as set forth in the
award, and subject to such other restrictions as the Committee deems advisable, including without limitation provisions to comply with Federal and state securities laws. In making determinations of legal requirements the Committee shall rely on an
opinion of counsel for the Corporation. 

  

	7.2	Restrictions: 

  

	 	a.	Award Period: Any shares of Common Stock awarded or issued under the Plan may be made subject to such other restrictions as the Committee deems advisable, including without limitation provisions to comply with
Federal and state securities laws. In making determinations of legal requirements the Committee may rely on an opinion of counsel for the Corporation. Except for any recoupment set forth in Section 10.2, after shares are awarded under the Plan,
the Committee may not, at a later date, add additional restrictions or extend the length of the Award Period. Notwithstanding the foregoing, the restrictions shall terminate upon the death of the Participant. 

 

	 	b.	Stock Certificates: Whenever shares of Common Stock are awarded to a Participant, such shares shall be outstanding, and stock certificates shall be issued in the name of the Participant, which certificates may
bear a legend stating that the shares are issued subject to the restrictions set forth in the Plan. All certificates issued for shares of Common Stock awarded under the Plan shall be deposited for the benefit of the Participant with the Secretary of
the Corporation as custodian until such time as the shares are vested and transferable. 

  

	 	c.	Voting Rights: A Participant who is awarded shares of Common Stock under the Plan shall have full voting rights on such shares, whether or not the shares are vested or transferable. 

 

	 	d.	Dividend Rights: Shares of Common Stock awarded to a Participant under the Plan, whether or not vested or transferable, may have full dividend rights as determined by the Committee. However, if shares or
securities are issued as a result of a merger, consolidation or similar event, such shares shall be issued in the same manner, and subject to the same deposit requirements, vesting provisions and transferability restrictions as the shares of Common
Stock which have been awarded. 

  

	 	e.	Delivery: Deliveries of Restricted Common Stock by the Corporation may consist in whole or in part of the authorized and unissued Common Stock of the Corporation (at such time or times and in such manner as it
may determine). The Restricted Common Stock shall be paid and delivered as soon as practicable after the Award Period in accordance with Section 7.3. 

  
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	 	f.	Transferability: The shares may not be sold, exchanged, transferred, pledged, hypothecated, or otherwise disposed of by the Participant until their release. However, nothing herein shall preclude a Participant
from making a gift of any shares of Restricted Common Stock to a spouse, child, stepchild, grandchild, parent or sibling, or legal dependent of the Participant or to a trust of which the beneficiary or beneficiaries of the corpus and the income
shall be either such a person or the Participant; provided that, the Restricted Common Stock so given shall remain subject to the restrictions, obligations and conditions described in this Article VII. 

 

	 	g.	Vesting: If a Participant has received an award pursuant to the provisions of the Plan, is employed by the Corporation or remains a Non-Employee Director at the end of the Award Period and, for shares with
performance based restrictions, the performance goals have been met, then the Participant shall be fully vested, at the end of the Award Period, in the shares of Common Stock awarded to the Participant for that Award Period. 

 

	 	h.	Termination of Employment or Service: If the employment of an employee Participant or the service of a Non-Employee Director terminates prior to the last day of an Award Period for any reason other than the
Participant’s death, retirement of a Participant from active employment or service with the Corporation after age 55 (“Retirement”), or disability of a Participant., all rights to any shares of Restricted Common Stock held in a
deposit account with respect to such award, including any additional shares issued with respect to such shares as described in subsection 7.2d above shall be forfeited to the Corporation. However, the Committee may, if the Committee determines that
circumstances warrant such action, vest all or a portion of such outstanding awards and approve the immediate distribution of all vested Common Stock that would otherwise be forfeited. Alternatively, the Committee may, if the Committee determines
that circumstances warrant such action, instruct that such shares of Restricted Common Stock shall continue to be held by the Corporation in a deposit account until some or all restrictions have been satisfied or the shares are forfeited for failure
to satisfy such restrictions. 

  

	 	i.	Exchange of Shares: In the event the Common Stock shall be changed into or exchanged for a different number or kind of shares of stock or other securities as set forth in Section 5.2 then there shall be
substituted for each share of stock awarded pursuant to this Article VII the number and kind of shares of stock or other securities into which each outstanding share Common Stock shall be so changed or for which each such share shall be exchanged.
In the event the Common Stock shall be exchanged for a cash payment, in whole or in part, whether through reorganization, recapitalization, merger or consolidation or otherwise, then any shares awarded pursuant to this Article VII shall also be
exchanged for a similar cash and/or stock payment. At the time of any such change or exchange, whether for stock or for cash or a combination of stock and cash, any restrictions, other than time based vesting, shall be removed and such stock and/or
cash as substituted for the shares awarded to the Participant shall continue to be considered an award of shares of Restricted Common Stock under this Plan. Nothing in this provision permits or requires the Corporation to sell a fractional share.
Any such exchange for cash will be structured in such a manner as to be exempt from Section 409A or alternatively, to comply with Section 409A. 

  

	7.3	Distribution of Restricted Common Stock: 

  

	 	a.	Distribution After Award Period: Except as otherwise provided, distribution of vested awards of Common Stock shall be made as soon as practicable after the last day of the applicable Award Period in the form of
full shares of Common Stock, with fractional shares, if any, being awarded in cash. 

  

	 	b.	Distribution After Death of Participant: Upon the death of the Participant, either before or after retirement, any shares of Restricted Common Stock then held shall, subject to this Article VII, be delivered
within a reasonable time under the circumstances to Participant’s Beneficiary or, in the absence of an appropriate Beneficiary designation to the Participant’s estate, in such one or more installments as the Committee may then determine.
The designation of a Beneficiary shall be made in writing on a form prescribed by and filed with the Committee prior to the Participant’s death. If the Committee is in doubt as to the right of any person to receive such amount, the Committee
may retain such amount, without liability for any interest thereon, until the rights thereto are determined, or the Committee may pay such amount into any court of appropriate jurisdiction and such payment shall be a complete discharge of the
liability of the Plan and the Corporation therefor. 

  

	 	c.	 Distribution After Retirement or Disability: Upon termination of an employee Participant due to Retirement or disability, all outstanding
shares shall be forfeited by the Participant except for the pro rata portion of any such outstanding grant equal to a fraction, the numerator of which is the number of full and partial months of service from the date of the grant to the termination

  
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date and the denominator of which is the time duration of the Performance Period, expressed in months. Any shares that are not forfeited at termination which are subject to Performance Criteria
shall continue to be held by the Corporation in a deposit account until any performance restrictions have been satisfied or the shares are forfeited for failure to satisfy such performance restrictions. Any shares that are not forfeited at
termination which are subject only to time based vesting and not to any additional Performance Criteria shall be delivered to the Participant as soon as practicable after termination. Notwithstanding the above, if an employee Participant accepts an
offer of employment with a competitor of the Corporation as determined by the Committee in its sole discretion, all shares shall be forfeited by the Participant. However, the Committee may, at its discretion and in exceptional circumstances, vest
all or a portion of such outstanding awards and approve the immediate distribution of all vested Common Stock that would otherwise be forfeited. Alternatively, the Committee may, if the Committee determines that circumstances warrant such action,
instruct that such shares of Restricted Common Stock shall continue to be held by the Corporation in a deposit account until some or all restrictions have been satisfied or the shares are forfeited for failure to satisfy such restrictions.

  

	7.4	Transferability: Subject to the provision of this Article VII, shares of Common Stock awarded to a Participant will become freely transferable by the Participant only at the end of the Award Period established
with respect to such shares. 

  

	7.5	Distribution to Person Other Than Employee: If the Committee shall find that any person to whom any award is payable under this Article VII of the Plan is unable to care for such person’s affairs because of
illness or accident, or is a minor, or has died, then any payment due Participant or Participant’s estate (unless a prior claim therefor has been made by a duly appointed legal representative), may, if the Committee so directs the Corporation,
be paid to Participant’s spouse, a child, a relative, an institution maintaining or having custody of such person, or any other person deemed by the Committee to be a proper recipient on behalf of such person otherwise entitled to payment. Any
such payment shall be a complete discharge of the liability of the Committee and the Corporation therefor. 

  

	7.6	Deferred Compensation: Restricted Common Stock for employee Participants is intended to constitute an unfunded deferred compensation arrangement for a select group of management or highly compensated personnel.

  

	7.7	Forfeiture of Voting Rights: A forfeiture of shares of Common Stock pursuant to subsection 7.2h of the Plan shall effect a complete forfeiture of voting rights, dividend rights and all other rights relating to
the award or grant as of the date of forfeiture. 

  

	7.8	Taxes: Each distribution of Common Stock under this Article VII of the Plan shall be made subject to such federal, state and local tax withholding requirements as apply on the distribution date. For this purpose,
the Committee may provide for the withholding of shares of Common Stock or allow a Participant to pay to the Corporation funds sufficient to satisfy such withholding requirements. 

Article VIII. Phantom Shares and Performance Units. 
  

	8.1	Phantom Shares: 

  

	 	a.	Grants of Phantom Shares: The Committee may from time to time grant Phantom Shares, the value of which is determined by reference to a share of Common Stock on terms and conditions as the Committee, in its
discretion, may from time to time determine. Each grant of Phantom Shares shall specify the number of Phantom Shares granted, the initial value of such Phantom shares which shall not be less than 100% of the Fair Market Value of the Common Stock as
of the date of grant, the Valuation Dates, the number of Phantom Shares whose Appreciation Value shall be determined on each such Valuation Date, any applicable vesting schedule for such Phantom Shares, and any applicable limitation on payment for
such Phantom Shares. In the event of any exchange of shares as described in Section 5.2, any outstanding Phantom Shares shall be also subject to the same substitution or adjustment as provided for in Section 5.2. 

 

	 	b.	Appreciation Value:  

  

	 	(i)	Valuation Dates; Measurement of Appreciation Value: The Committee shall provide for one or more Valuation Dates on which the Appreciation Value of the Phantom Shares granted shall be measured and fixed, and shall
designate the number of such Phantom Shares whose Appreciation Value is to be calculated on each such Valuation Date. 

  

	 	(ii)	Payment of Appreciation Value: Except as otherwise provided in this Section 8.1, the Appreciation Value of a Phantom Share shall be paid to a Participant in cash in a lump sum as soon as practicable
following the Valuation Date applicable to such Phantom Share. The Committee may in its discretion, establish and set forth a maximum dollar amount payable under the Plan for each Phantom Share granted. 

  
 8 

	 	(iii)	Vesting: The Committee may, in its discretion, provide that Phantom Shares shall vest (subject to such terms and conditions as the Committee may provide in the award) over such period of time, from the date of
grant, as may be specified in a vesting schedule contained in the grant. 

  

	 	(iv)	Termination: In the event of termination of employment of an employee Participant or termination of service of a Non-Employee Director prior to one or more Valuation Dates, unless the Committee in its discretion
determines otherwise, the Appreciation Value for any Phantom Share to which the Participant’s Rights are vested, shall be the lesser of the Appreciation Value as of the termination date or the Appreciation Value of such Phantom Share calculated
as of the originally scheduled Valuation Date applicable thereto in accordance with Section 8.1(b)(i). Except as otherwise provided in the grant agreement, the Appreciation Value so determined for each such vested outstanding Phantom Share
shall then be payable to the Participant or the Participant’s Beneficiary or estate following the originally scheduled Valuation Date applicable thereto in accordance with Section 8.1(b)(ii). Upon a termination as described in this
Section 8.1(b)(iv), all rights with respect to Phantom Shares that are not vested as of such date will be relinquished. 

  

	8.2	Performance Units: The Committee may, in its discretion, grant Performance Units to Eligible Persons. Each Performance Unit will have an initial value that is established by the Committee at the time of grant and
credited to a bookkeeping account established for the Participant, but no Participant shall be granted Performance Units during any one fiscal year with an initial value in excess of $2.5 million. The Committee will set performance periods and
objectives and other terms and conditions of the grant based upon Performance Criteria as determined by the Committee that, depending upon the extent to which they are met, will determine the value of Performance Units that will be paid out to the
Participant. The Committee may pay earned Performance Units in cash, Common Stock or a combination thereof. 

 Unless otherwise
set forth in the grant, in the event the employment of an employee Participant is terminated during a performance period due to death, disability or retirement under the provisions of the Pension Plan after age 55 the Participant or the
Participant’s beneficiary will receive a prorated payout of Performance Units. In the event the employment is terminated for any other reason, then all Performance Units will be forfeited. If the service of a Non-Employee Director is terminated
during a performance period, the Participant will receive a prorated payout of Performance Units. Notwithstanding the above, no payouts will be made to the extent that objectives other than the duration of the performance period have not been met
except to the extent that the Committee in its discretion decides to waive any such other achievement or objectives. 
  

	8.3	Grant Term: The terms of any award granted under this Article VIII shall be set forth in a separate grant agreement. Any such award either shall be structured in such a manner as to be exempt from the
requirements of Code section 409A or shall be structured to meet the requirements of such provision. Any such grants shall be made in accordance with any applicable legal requirements of any Federal or state securities laws and in making
determinations of legal requirements the Committee may relay on an opinion of counsel for the Corporation. 

  

	8.4	Taxes: Each payment under this Article VIII of the Plan shall be made subject to such federal, state and local tax withholding requirements as apply on the distribution date. For this purpose, if a payout is made
under Section 8.2 in Common Stock, the Committee may provide for the withholding of shares of Common Stock or allow a Participant to pay to the Corporation funds sufficient to satisfy such withholding requirements. 

Article IX. Amendment, Duration and Termination of the Plan 
  

	9.1	Duration of Plan: No grants or awards may be made under this Plan after May 31, 2014. Any grant or award effective on or prior to May 31, 2014 will continue to vest and otherwise be effective after the
expiration of this Plan in accordance with the terms and conditions of this Plan as well as any requirements set forth in the grant or award. 

  

	9.2	Right To Amend, Suspend or Terminate Plan: Except as provided in Section 9.5 below, the Board reserves the right at any time to amend, suspend or terminate the Plan in whole or in part and for any reason and
without the consent of any Optionee, Participant or Beneficiary; provided, that no such amendment shall: 

  

	 	a.	Change the Stock Option price or adversely affect any Stock Option or Stock Appreciation Right outstanding under the Plan on the effective date of such amendment or termination, or 

  
 9 

	 	b.	Adversely affect any award or grant then in effect or rights to receive any amount to which Participants or Beneficiaries have become entitled prior to such amendment, or 

 

	 	c.	Unless approved by the Shareholders of CMS Energy Corporation, increase the aggregate number of shares of Common Stock reserved for award or grant under the Plan, change the group of Eligible Persons under the Plan or
materially increase benefits to Eligible Persons under the Plan. 

  

	9.3	Periodic Review of Plan: In order to assure the continued realization of the purposes of the Plan, the Committee shall periodically review the Plan, and the Committee may suggest amendments to the Board as it may
deem appropriate. 

  

	9.4	Amendments May Be Retroactive: Subject to Section 9.1 and 9.2 above, any amendment, modification, suspension or termination of any provisions of the Plan may be made retroactively. 

 

	9.5	Change in Control Under an Agreement: Notwithstanding any other provisions in the Plan, in the event of a Change in Control as defined under any written employment contract or agreement between the Corporation or
a subsidiary and an Officer of the Corporation or a subsidiary, awards of Common Stock granted under this Plan, as well as grants of any Performance Units and the Appreciation Value of Phantom Shares, shall vest to the extent, if any, provided for
in the written employment agreement or contract or in such separate contractual arrangement relating to such an award or grant as may exist from time to time. Notwithstanding any other provisions of the Plan, the provisions of this Section 9.5
may not be amended after the date a Change in Control occurs. 

  

	9.6	Change in Control Without an Agreement: Except as otherwise may be provided by the Committee, in the event of a change in control, a Participant not covered by a written employment contract or agreement or
agreement containing a change in control provision will have any portion of an Award based on absolute total shareholder return vest (for purposes of the performance-based restriction) at the target, and continue to be subject to time based
restrictions. The portion of any Award based on relative total shareholder return will vest (for purposes of the performance-based restriction) on a pro rata basis to the change in control date using the target number of shares as the basis for the
pro ration and continue to be subject to time based restrictions. 

 Article X. General Provisions 

 

	10.1	Rights to Continued Employment, Award or Option: Nothing contained in the Plan or in any grant or award under this Plan shall give any employee the right to be retained in the employment of the Corporation or
affect the right of the Corporation to terminate the employee’s employment at any time. The adoption of the Plan shall not constitute a contract between the Corporation and any employee. No Eligible Person who is an employee shall receive any
right to be granted an option, right or award hereunder nor shall any such option, right or award be considered as compensation under any employee benefit plan of the Corporation. 

10.2 Clawback: 
  

	 	a.	If, due to a restatement of CMS Energy Corporation’s or an Affiliate’s publicly disclosed financial statements or otherwise, an Eligible Person is subject to an obligation to make a repayment or return of
benefits to CMS Energy Corporation or an Affiliate pursuant to a clawback provision contained in this Plan, a supplemental executive retirement plan, a bonus plan, or any other benefit plan (a “benefit plan clawback provision”) of the
Corporation, it shall be a precondition to the vesting of any unvested award under this Plan, that the Eligible Person fully repay or return to the Corporation any amounts owing under such benefit plan clawback provision. Any and all awards under
this Plan are further subject to any provision of law which may require the Eligible Person to forfeit or return any benefits provided hereunder, in the event of a restatement of the Corporation’s publicly disclosed accounting statements or
other illegal act, whether required by Section 304 of the Sarbanes-Oxley Act of 2002, federal securities law (including any rule or regulation promulgated by the Securities and Exchange Commission), any state law, or any rule or regulation
promulgated by the applicable listing exchange or system on which the Corporation lists its traded shares. 

  

	 	b.	To the degree any benefits hereunder are not otherwise forfeitable pursuant to the preceding sentences of this Section 10.2, the Board or Committee may require the Eligible Person to return to the Corporation any
amounts granted, awarded or paid under this Plan, or may determine that all or any portion of a grant shall not vest, if: 

  

	 	(1)	the grant of such compensation or the vesting of such compensation, or profit realized on the exercise or sale of securities obtained pursuant to the Plan, was predicated upon achieving certain financial results which
were subsequently the subject of a substantial accounting restatement of the Corporation’s financial statements filed under the securities laws (a “financial restatement”), 

  
 10 

	 	(2)	a lower grant, a lower vesting result, or a lower profit on the exercise or sale of securities obtained pursuant to the Plan (“reduced financial results”), would have occurred based upon the financial
restatement, and 

  

	 	(3)	in the reasonable opinion of the Board or the Committee, the circumstances of the financial restatement justify such a modification of the award or its vesting. Such circumstances may include, but are not limited to,
whether the financial restatement was caused by misconduct, whether the financial restatement affected more than one period and the reduced financial results in one period were offset by increased financial results in another period, the timing of
the financial restatement or any required repayment, and other relevant factors. 

 Unless otherwise required by law, the
provisions of this Subsection b. relating to the return of previously vested Plan benefits shall not apply unless a claim is made therefore by the Corporation within three years of the vesting of such benefits. 

 

	 	c.	The Committee shall also have the discretion to require a clawback in the event of a mistake or accounting error in the calculation of a benefit or an award that results in a benefit to an eligible individual to which
he/she was not otherwise entitled. The rights set forth in this Plan concerning the right of the Corporation to a clawback are in addition to any other rights to recovery or damages available at law or equity and are not a limitation of such rights.

  

	10.3	Governing Law: The provisions of this Plan and all rights thereunder shall be governed by and construed in accordance with the laws of the State of Michigan. 

IN WITNESS WHEREOF, execution is hereby effected. 
  

							
	ATTEST:	  		 		 	CMS ENERGY CORPORATION
				
	 /s/ Melissa M. Gleespen
	  		 	By:	 	       /s/      John Russell

	     Secretary
	  		 		 	     Chief Executive Officer

  
 11 

 Attachment A 

“Change in Control” means a change in control of CMS Energy Corporation, and shall be deemed to have occurred upon the first
to occur of any of the following events: 
  

	 	(a)	Any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of CMS Energy Corporation (not including securities beneficially owned by such Person any securities acquired directly from CMS Energy
Corporation or its Affiliates) representing thirty percent (30%) or more of the combined voting power of CMS Energy Corporation’s then outstanding securities, excluding any Person who becomes such a Beneficial Owner in connection with a
transaction described in clause (i) of paragraph (c) below; or 

  

	 	(b)	The following individuals cease for any reason to constitute a majority of directors then serving: individuals who, on the Effective Date, constitute the Board and any new director (other than a director whose initial
assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of CMS Energy Corporation) whose appointment or election by the Board or
nomination for election by CMS Energy Corporation’s stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors on the Effective Date or whose appointment,
election or nomination for election was previously so approved or recommended; or 

  

	 	(c)	The consummation of a merger or consolidation of CMS Energy Corporation or any direct or indirect subsidiary of CMS Energy Corporation with any other corporation or other entity, other than: (i) any such merger or
consolidation which involves either CMS Energy Corporation or any such subsidiary and would result in the voting securities of CMS Energy Corporation outstanding immediately prior thereto continuing to represent (either by remaining outstanding or
by being converted into voting securities of the surviving entity or any parent thereof), in combination with the ownership of any trustee or other fiduciary holding securities under an employee benefit plan of CMS Energy Corporation or its
Affiliates, at least sixty percent (60%) of the combined voting power of the voting securities of CMS Energy Corporation or the surviving entity or any parent thereof outstanding immediately after such merger or consolidation and immediately
following which the individuals who comprise the Board immediately prior thereto constitute at least a majority of the board of directors of CMS Energy Corporation, the entity surviving such merger or consolidation or, if CMS Energy Corporation or
the entity surviving such merger is then a subsidiary, the ultimate parent thereof; or (ii) a merger or consolidation effected to implement a recapitalization of CMS Energy Corporation (or similar transaction) in which no Person is or becomes
the Beneficial Owner, directly or indirectly, of securities of CMS Energy Corporation (not including in the securities beneficially owned by such Person any securities acquired directly from CMS Energy Corporation or its Affiliates) representing twenty-five percent (25%) or more of the combined voting power of CMS Energy Corporation’s then outstanding securities; or 

 

	 	(d)	Either (1) the stockholders of CMS Energy Corporation approve a plan of complete liquidation or dissolution of CMS Energy Corporation, or (2) there is consummated an agreement for the sale, transfer or
disposition by CMS Energy Corporation of all or substantially all of CMS Energy Corporation’s assets (or any transaction having a similar effect). For purposes of clause (d)(2), (i) the sale, transfer or disposition of a majority of the
shares of common stock of Consumers Energy Company shall constitute a sale, transfer or disposition of substantially all of the assets of CMS Energy Corporation and (ii) the sale, transfer or disposition of subsidiaries or affiliates of CMS
Energy Corporation, singly or in combinations, or their assets, only qualifies as a Change in Control if it satisfies the substantiality test contained in that clause and the Board of CMS Energy Corporation’s determination in that regard is
final. In addition, for purposes of clause (d)(2), the sale, transfer or disposition of assets has to be in a transaction or series of transactions closing within six months after the closing of the first transaction in the series, other than with
an entity in which at least 60% of the combined voting power of the voting securities is owned by stockholders of CMS Energy Corporation in substantially the same proportions as their ownership of CMS Energy Corporation immediately prior to such
transaction or transactions and immediately following which the individuals who comprise the Board immediately prior thereto constitute at least a majority of the board of directors of the entity to which such assets are sold, transferred or
disposed or, if such entity is a subsidiary, the ultimate parent thereof. 

  
 12 

 Attachment A 

Notwithstanding the foregoing clauses (a), (c) and (d), a “Change in Control” shall not be deemed to have occurred by virtue of
the consummation of any transaction or series of integrated transactions closing within six months after the closing of the first transaction in the series immediately following which the record holders of the common stock of CMS Energy Corporation
immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in an entity which owns all or substantially all of the assets of CMS Energy Corporation immediately following such
transaction or series of transactions. 

  
 13EX-10.1

 Exhibit 10.1 

SANCTION AGREEMENT 

NASCAR SPRINT CUP SERIES 
 EVENT
NAME: Fed Ex “400” benefiting Autism Speaks 
 DATE OF EVENT: June 1, 2014 

PROMOTER: Dover International Speedway 
 TRACK:
Dover International Speedway 

 SANCTION AGREEMENT 

This Sanction Agreement (“Agreement”) between NASCAR Event Management, Inc. (“NEM”), a corporation with its principal
offices located in Daytona Beach, Florida, and PROMOTER (identified on Exhibit 1 to this Agreement), is entered into and is effective as of the Effective Date (specified on Exhibit 1 to this Agreement). 

RECITALS 
 WHEREAS
NEM has been authorized by the National Association for Stock Car Auto Racing, Inc. (hereinafter “NASCAR”) to grant certain NASCAR-owned and/or NASCAR-controlled rights that are specified in this Agreement to PROMOTER; and 

WHEREAS, NEM sanctions and conducts, among other things, stock car racing events and series of events throughout the United States and the
world; and 
 WHEREAS, PROMOTER owns and/or controls the Facility (as hereinafter defined); and 

WHEREAS, PROMOTER wishes to have NEM grant a sanction and conduct a stock car racing event, as part of the 2014 NASCAR Sprint Cup Series, at
the Facility; and 
 WHEREAS, NEM is willing to grant a sanction and to conduct such event for the year 2014 in accordance with the terms of
this Agreement; 
 NOW, THEREFORE, NEM and PROMOTER, in consideration of the mutual promises set forth below, and intending to be legally
bound, agree as follows: 
 AGREEMENT 

1. Definitions. In addition to the definitions of words that may appear in other locations in this Agreement, including the
Recitals above, the following words have the following meanings when used in this Agreement: 
  

	 	a)	“Additional Awards” means any monetary or non-monetary award by, or contracted through, PROMOTER, for distribution based upon the Event, other than (i) purse, (ii) point fund, (iii) any
applicable Plan awards, and (iv) the entry award for the NASCAR Sprint Cup Series Champion. 

  

	 	b)	“Ancillary Rights” means (i) any and all rights to film, tape, photograph, capture, overhear, collect or record, and to simultaneously or thereafter reproduce, broadcast, transmit or distribute, by any
means, process, medium or device, whether or not currently in existence, all images, sounds and electronic data generated during and in connection with the Events, and (ii) any and all copyrights and all other intellectual property and
proprietary rights worldwide in and to such images, sounds and electronic data, any recording, broadcast or transmission thereof, and any work derived therefrom, provided, however, that “Ancillary Rights” does not include
“Live Broadcast Rights” or rights in or to NASCAR Intellectual Property or Third Party Marks, but shall include rights in or to a live transmission pursuant to a specialty subscription cable package or product of one or more Events (such
as pay-per-view or the like). 

  

	 	c)	“Competition” means that portion of the Event during which the actual NASCAR Sprint Cup Series racing competition and all competitive activity related thereto occurs, including, but not limited to,
registration, inspections, time trials, practice runs, pre-race meetings, post-race inspections, either on the date(s) specified in Exhibit 1 hereto or on any postponed dates. 

 

	 	d)	“Competitor” has the same meaning as that term has in the Rule Book. 

  
 1 

	 	e)	“Event” means the Competition listed on Exhibit 1 to this Agreement and all other activity at the Facility during the period of time commencing 48 hours prior to the beginning of registration for the
Competition and ending 24 hours after such Competition. 

  

	 	f)	“Event Broadcast Income” means the amount attributable to the NASCAR Sprint Cup Series calculated by multiplying the percentage listed in Exhibit 1 of this Agreement by all Live Broadcast Income received by
NEM or the NASCAR Rights Affiliate(s) pursuant to Live Broadcast Contract(s) during the calendar year in which the Event is held. 

  

	 	g)	“Event Net Ancillary Rights Income” means the amount attributable to the NASCAR Sprint Cup Series calculated by multiplying the percentage set forth in Exhibit 1 of this Agreement by all Net Income before
Industry Expenses and after Income Tax Provision earned during the calendar year in which the Event is held. 

  

	 	h)	“Facility” means the racetrack listed on Exhibit 1 to this Agreement, the premises upon which the racetrack is located and surrounding the racetrack, all buildings and other structures thereon, and all
airspace above the racetrack and surrounding premises, to the extent owned or controlled by PROMOTER. 

  

	 	i)	“Fiber Optic Connectivity” means the existing permanently installed fiber optic cabling that will be used to connect critical services required by NASCAR Rights Affiliates, NEM and media. NEM and NASCAR Rights
Affiliates will provide PROMOTER with a detailed specification as to the kind and quality of fiber optic cable and connectors to be provided and detailed location points for access, as well as a timeline for full implementation. 

 

	 	j)	“Live Broadcast” means the live transmission of the performance of a NASCAR Sprint Cup Series event, and any replay(s) thereof, by broadcast television signal or cable television signal within the United
States, its territories, possessions and commonwealths, plus Bermuda. 

  

	 	k)	“Live Broadcast Rights” means any and all rights to engage in a Live Broadcast and directly related broadcast activity (for example, tape-delayed broadcasts, single re-broadcasts and support programming).

  

	 	l)	“Live Broadcast Contract” means any contract, agreement or other enforceable obligation, whether oral or written, entered into between NEM or a NASCAR Rights Affiliate and any other entity or entities, for the
license, assignment or other transfer of any Live Broadcast Rights. 

  

	 	m)	“Live Broadcast Income” means all monies actually received by NEM or a NASCAR Rights Affiliate pursuant to a Live Broadcast Contract and attributed by NEM to the Live Broadcast of NASCAR Sprint Cup Series
events during the calendar year in which the Event is held. 

  

	 	n)	“NEM” means NASCAR Event Management, Inc. which has been authorized by the National Association for Stock Car Auto Racing, Inc. (“NASCAR”) to grant certain NASCAR-owned and/or NASCAR-controlled
rights to PROMOTER and perform certain obligations that are specified in this Agreement. 

  

	 	o)	“NASCAR Intellectual Property” means all trademarks, service marks, trade names, patents, copyrights, domain names, trade dress and the like owned by NASCAR, excluding Live Broadcast Rights and Ancillary
Rights and any work derived therefrom. 

  

	 	p)	 “NASCAR Rights Affiliate” means any corporation, partnership or other legal entity that is (1) an affiliate or an assignee of NASCAR or
controlled, directly or indirectly by NASCAR, and (2) engaged in the business of exploiting Live Broadcast Rights or Ancillary Rights for purposes of generating Live Broadcast Income and Net Income before Industry Expenses and after Income Tax

  
 2 

	 	
Provision and performing all necessary activities incident thereto. NEM may arrange for, coordinate, supervise, determine, and/or control certain Event-related activity related to the immediately
preceding, and/or act in other capacities relative to the Live Broadcast Rights or Ancillary Rights as specified elsewhere in this Agreement, but NEM is not a NASCAR Rights Affiliate. 

 

	 	q)	“Net Income before Industry Expenses and after Income Tax Provision” means the aggregate gross revenue earned by all NASCAR Rights Affiliates, during the calendar year in which the Event is held, as a result
of the exploitation of Ancillary Rights, reduced by the aggregate of all reasonable deductions of NASCAR Rights Affiliates, including but not limited to ordinary business expenses, amortization, depreciation and federal, foreign, and state income,
withholding and property taxes; provided, however, that in no event shall Net Income before Industry Expenses and after Income Tax Provision include income, revenue or any other consideration received or generated by NASCAR or NEM for
the license of, assignment of, or other transfer of rights in or to, any NASCAR Intellectual Property, including without limitation transfers in connection with the sale, advertising or promotion by NEM, NASCAR or any third party of products or
services of any nature. 

  

	 	r)	“Official” means “Officials” and “Supervisory Officials” as those terms are defined in the Rule Book. 

  

	 	s)	“Entitlement Sponsor” means any and all Event entitlement sponsors or entities, any and all Event presenting sponsors or entities, and any and all names or designations created by PROMOTER or a sponsor of
PROMOTER which designate the official Event title, whether pre-existing at the time of the execution of this Agreement or proposed thereafter, relative to the NEM-sanctioned Competition(s) that are part of the Event. 

 

	 	t)	“Rule Book” means the Rule Book published by NASCAR for NASCAR Sprint Cup Series events that is in effect at the time of the Event, and any amendments thereto and other special rules published by NEM, subject
to NASCAR’s approval, specifically for the Event. 

 NEM’S GENERAL OBLIGATIONS 

2. Sanction For Event. NEM hereby grants a sanction to PROMOTER for the Competition. So long as such sanction is in effect and
not terminated, PROMOTER shall organize, promote and hold the Event, including the Competition, in accordance with this Agreement. 
 3.
Conduct and Control Over Competition. NEM shall conduct the Competition, through its officers and designated Officials, in accordance with the Rule Book, this Agreement, the Official Entry Blank, and any amendments to the Rule Book
and/or Official Entry Blank. NEM shall have sole control over the conduct of the Competition in all of its phases, including, but not limited to, control of the racing surface, pits and pit lane, garage area, and scoring stand during all
Competition-related activities, throughout the Event. Interpretation and application of the Rule Book are committed to NEM’s sole discretion, and are final and unreviewable except to the extent provided in the Rule Book. PROMOTER shall
cooperate fully with NEM to permit it to conduct the Competition in accordance with this Agreement and the Rule Book. 
 4.
Postponement. NEM will attempt to consult with PROMOTER regarding postponement of a Competition, but the decision to postpone a Competition and the selection of the postponed date will be made by NEM and will be binding on PROMOTER.
PROMOTER shall not publish or otherwise announce a postponement of the Competition and/or a postponed date for the Competition without the prior written approval of NEM. If PROMOTER makes such a publication or announcement without NEM’s prior
written approval, it shall not be binding upon NEM or NASCAR and PROMOTER shall hold NEM and NASCAR harmless for any and all expense, loss or damage caused by such publication or announcement. 

  
 3 

 PROMOTER’S GENERAL OBLIGATIONS 

5. Control and Maintenance of the Facility. PROMOTER represents and warrants that, in connection with the Event, it
currently has and will maintain sole control of the Facility, and that it has and will maintain full authority to permit the Event to be conducted at the Facility. PROMOTER shall maintain the Facility in good repair at all times relevant to the
Event, ready for use by Competitors, Officials, NASCAR, NEM, sponsors, and persons or entities involved in the Live Broadcast of or creation or exploitation of Ancillary Rights at the Event. PROMOTER is solely responsible and liable for the safety
of such persons while on, entering or leaving the Facility. PROMOTER warrants that the Facility is and will remain in a condition suitable for the Event, that the racing surface of the track will not be substantially altered or changed (whether by
painting, sealing, resurfacing or otherwise) without the prior written consent of NEM and that the PROMOTER will advise NEM in writing in advance of any and all planned improvements or alterations to those portions of the facility that are related
to the competition. If NEM determines that an NEM test is required at the Facility, and the Facility is available on the selected date(s), then PROMOTER shall make all necessary arrangements as required by NEM. Incremental costs, if any, to meet NEM
requirements in regards to track and/or emergency response personnel, medical, and other staffing/equipment necessitated by the test, and/or an extraordinary cost (such as lighting if it is a night test), shall be identified and agreed to by both
parties in advance, and shall not exceed normal market value. Promoter shall not charge NEM, NASCAR, Competitors or any third party vendors directly involved in the test a track rental fee or any other fees, except as described in the immediately
preceding sentence. Unless approved by NEM in writing in advance, tests shall not be open to the public. If PROMOTER agrees to bear all the test-related incremental costs described above and any and all other costs PROMOTER may have related to
advertising, promotion, ticketing, security for the public, etc. for the test, then NEM shall allow the test to be open to the public as follows: public access shall not include the garage area, pit lane or other restricted areas unless authorized
in advance by NEM; PROMOTER may submit for advanced NEM approval designation of a restricted fan area in areas of the garage not needed for the test; PROMOTER may submit for advanced NEM approval certain restricted public access to the working areas
of the garage during designated “cold” times or meal break. The maximum number of NEM tests which may be required during the term of this Agreement shall not exceed two (2), unless otherwise agreed to by PROMOTER and NEM. NEM test(s), if
required, do not preclude or prevent other testing at the Facility scheduled by the PROMOTER, as long as such other testing is conducted in strict accordance with the NASCAR Sprint Cup Series Private Race Car Testing Policy. 

6. Repairs and Upgrades to the Facility. Upon request, PROMOTER shall provide NEM or its designated representative(s)
full access to the Facility. If NEM determines that the Facility or any part of it is in a condition unsatisfactory for the Event, including without limitation the surface of the racetrack, barriers, fencing, retaining systems, SAFER barrier
systems, the garage area, the pit area, race control, timing and scoring areas, registration areas, Fiber Optic Connectivity regarding the conduct and control of the Competition, the Live Broadcast of or creation or exploitation of Ancillary Rights
at the Event, and/or media, and areas, structures or equipment used for the Live Broadcast of or the creation or exploitation of Ancillary Rights at the Event, PROMOTER shall repair, replace or upgrade the unsatisfactory portion to the satisfaction
of NEM. If NEM determines that it is necessary to resurface the racetrack, such resurfacing shall be completed by PROMOTER sufficiently in advance of the Event to allow for tire and private car testing. If NEM determines that there is insufficient
time to place the racetrack, or any other portion of the Facility, in a condition suitable for the Event, NEM may postpone or cancel the Event. Notwithstanding the foregoing or any other term of this Agreement, PROMOTER is solely responsible for the
safety of the Facility and is solely liable for injury or damage caused by or arising out of the condition of the Facility. 
 7.
Compliance with Laws. PROMOTER shall comply with all local, state and federal laws and regulations applicable to the organization, promotion and occurrence of the Event and shall obtain all necessary licenses, permits or other
governmental approvals required for the Event. PROMOTER shall make all appropriate filings of forms or other documents required by federal, state or local laws in connection with the Event. 

8. Control of and Responsibility for the Public. PROMOTER is solely responsible and liable for the safety of the public during
the Event. PROMOTER shall furnish adequate facilities, personnel (including security personnel), equipment and services for accommodating and controlling the public and adhering to NEM’s required security standards during the Event provided
that PROMOTER is given a copy of such required security standards prior to the Event. 

  
 4 

 
PROMOTER is solely responsible for the condition, actions and operations of such facilities, personnel, equipment and services before, during and after the Event. 

9. Personnel and Equipment for the Conduct of the Event and Live Broadcast and Ancillary Rights Activities. PROMOTER shall
provide access to the Facility for any person or entity involved in the conduct of the Event, including without limitation NEM employees, agents and Officials, and shall furnish adequate facilities, support personnel, equipment, and related
security, for use by NEM in the exercise of NEM’s rights and obligations, as they may be requested by NEM from time to time, including but not limited to facilities for office administration, registration, timing, scoring, car inspection, race
direction, officiating and prize money distribution. PROMOTER shall also provide access to the Facility for any NASCAR employee(s) or agent(s), and any person or entity involved in the Live Broadcast of or the creation or exploitation of Ancillary
Rights at the Event, and adequate facilities, support personnel, equipment, and related security, for use by such persons or entities in the performance of their duties, as they may be requested by NEM from time to time. Without in any way limiting
the foregoing, PROMOTER shall, with respect to the Event: 
  

	 	a)	provide one (1) or more television monitors, in locations to be specified by NEM, with all related equipment necessary for such monitors to be connected to video and audio equipment used by the entity principally
involved in the Live Broadcast of the Event, in order to provide to NEM Officials live video on such monitors and the ability to switch instantaneously its view on the monitors among the different camera locations used by such entity, at all times
during the Event when all or a portion of the Event is being videotaped, broadcast, monitored and/or recorded; 

  

	 	b)	provide NEM with two (2) pace vehicles with automatic transmissions, each with the NASCAR mark or logo (as designated by NEM) displayed on the side in a manner and size which is visible to all persons on the
racetrack, in the viewing area and in all locations where NEM Officials are visually monitoring the Event; 

  

	 	c)	provide NEM prior to the Event with a list of the track radio frequencies to be used for the Event, including but not limited to frequencies to be used for maintenance, police and security personnel; 

 

	 	d)	cooperate with NEM in pre-race and Victory Lane ceremonies, award presentations and photographs, including without limitation ensuring that NEM has reasonable time immediately following the Competition for Victory Lane
ceremonies, NASCAR award presentations and NASCAR sponsor recognitions ensuring that the content and placement of the Victory Lane backdrop is pre-approved by NEM; 

 

	 	e)	have readily available quantities of oil dry acceptable to NEM when the track opens for practice and at all other times during the Event, and adequate personnel and equipment to spread the oil dry at NEM’s
direction; 

  

	 	f)	provide personnel to secure the entry into the pits and garage areas during competition periods at NEM’s direction; 

  

	 	g)	provide personnel to secure the garage area on a continuous, 24-hour/day basis beginning the first day the Facility is open for inspection and ending when released by the NASCAR Sprint Cup Series Director;

  

	 	h)	deliver to the garage area before the morning of raceday a minimum of 150 chairs for use by Competitors at the pre-race meeting; provide an enclosed, climate-controlled area of adequate size, as determined by NEM, in
the garage area in which NEM can conduct pre-race meetings, safety meetings and other assemblies during the Event and ensure that no pre-race activities are scheduled that would cause a disruption or distraction during the scheduled pre-race
meeting. 

  
 5 

	 	i)	line and number each pit with appropriate paint, line and paint traffic lanes in the garage and garage area and fire lanes behind the active pit lane when and where needed, and repaint all start/finish, scoring, third
turn and re-entry cutoff lines; 

  

	 	j)	coordinate with NEM all tours of the garage areas, including the times, number of participants and other arrangements; 

  

	 	k)	provide a suitable location (as determined by NEM) for a minimum of five (5) large trailers containing NEM equipment and facilities, adequate electricity (including without limitation 220 volts 100 amps services
with female range outlets for the NEM trailers), air conditioning, heat, telephone (including a track phone extension) and water facilities as requested by NEM; 

  

	 	l)	coordinate with NEM to ensure that NEM has a minimum of ten (10) minutes immediately before, during or after driver introductions for NASCAR awards presentations; 

 

	 	m)	provide a control tower of adequate size, as determined by NEM, with an unobstructed view of the racing surface for the purpose of monitoring the Event by NEM personnel and others, with electricity, air conditioning,
heat, telephone (including a track phone extension), a sufficient number of chairs (minimum of 14) with cushions for all operational personnel, television monitors for both feeds (as set forth in Section 9.a), water facilities and other
utilities, supplies and equipment as requested by NEM; 

  

	 	n)	provide a registration facility of adequate size in the garage area, with electricity, air conditioning, heat, telephone (including a track phone extension), chairs with cushions, water facilities and other utilities,
supplies and equipment as requested by NEM; 

  

	 	o)	provide adequate trash receptacles in the garage and pit areas and coordinate with the NASCAR Sprint Cup Series Director the times for trash pick up by track personnel; 

 

	 	p)	provide adequate personnel to sweep and clean up the garage and pit areas on a daily basis; 

  

	 	q)	provide adequate parking areas and parking passes/permits for a minimum of three hundred twenty- five (325) vehicles, for the exclusive use of Competitors, NASCAR, and NEM Officials adjacent to or near the garage
area, and an additional fifty (50) parking places and passes/permits in close proximity to the NEM observation booth to be used at NEM’s discretion; 

  

	 	r)	provide NEM with an observation booth no less than six hundred (600) square feet, air conditioned, heated, with electricity, television monitors, etc., with an unobstructed view of the racing surface and adequate
seating for the purpose of monitoring the Event by NEM personnel and others, including all necessary admission tickets and/or access stickers for personnel to gain admission to the observation booth, during the Event; 

 

	 	s)	provide NEM with two hundred twenty-five (225) reserved choice grandstand admission tickets for the Event and two hundred (200) choice grandstand tickets for NASCAR Sprint Cup Series Coors Light Pole
Qualifying, such tickets to be delivered to NEM no later than thirty (30) calendar days prior to the Event; 

  

	 	t)	enter, and use its best efforts to cause any manufacturer of Event merchandise to enter, into a cross licensing agreement with NASCAR to use the NASCAR Marks (as defined in Section 19.a) below) in conjunction with
all Event merchandise; 

  

	 	u)	prominently display (by painting or otherwise) the Official Logos (as defined in subsection 19.a)i) in and around the Facility, and in all promotion of the Event, to NEM’s satisfaction, including but not limited
to: 

  
 6 

	 	i)	at all Facility entrances in some fashion such as flags and/or banners; 

  

	 	ii)	in an area inside the track, such as the infield grass, such that it is highly visible to grandstand seating and from the air; 

  

	 	iii)	in the backdrop to Victory Lane and pre-race ceremonies; 

  

	 	iv)	on any and all print and television advertising promoting the Event; 

  

	 	v)	on the front cover of the Event Program; 

  

	 	vi)	on any and all Event tickets, suite passes, and credentials; 

  

	 	vii)	in the Track Media Center and on all PROMOTER-owned media backdrops; 

 provided,
however, that the Official Logos shall not, without NEM’s prior written approval, be placed in close proximity to a third party’s marks so as to create a commercial impression that the third party is associated with NEM, NASCAR or
the NASCAR Sprint Cup Series; 
  

	 	v)	cooperate fully with nascar.com staff, including but not limited to prominently displaying (by painting or otherwise) the nascar.com address in an area of the track, such as the infield grass, that is highly visible to
grandstand seating and from the air; 

  

	 	w)	cooperate fully with the NASCAR and NEM integrated marketing communications staffs; 

  

	 	x)	cooperate fully with any entity involved in the exploitation of Live Broadcast Rights or Ancillary Rights (“Entity”), including but not limited to: 

 

	 	i)	providing reasonable access to the Facility for the purpose of facilitating the Entity’s broadcast, transmission, or recording of the Event (including free parking for any and all Entity employees and equipment),
including but not limited to providing reasonable space and locations as determined by the Entity for its announcers, and for the installation and operation of all microphones, television cameras, and related equipment to be used by such Entity in
connection with its production and transmission (including satellite uplink); 

  

	 	ii)	supplying and assuring the availability of such electrical power as is necessary to operate such equipment and all necessary lighting for a first quality television production in color; 

 

	 	iii)	permitting the Entity to install, maintain, and remove from the Facility such wires, cables, and equipment as may be necessary for the Event; 

 

	 	iv)	permitting installation of announcers’ booths, camera platforms, and similar structures for the facilitation of broadcast productions of motorsports events; 

 

	 	v)	 providing adequate and necessary space for any mobile units, trailers and other necessary support units required by the Entity for the transportation
and maintenance of equipment and personnel by the Entity, including, but not limited to, a fenced and secured television compound in reasonably close proximity to the racing surface and the announcer booths of no less than sixty-two thousand five
hundred (62,500) square feet in total area and, if possible, laid out in one contiguous square with dimensions of two hundred fifty (250) feet by two hundred fifty (250) feet, for locating broadcast mobile units, support units, office
units, satellite uplinks, catering, golf cart parking, generators, timing and scoring apparatus trailer, and other related equipment and supplies; and a separate, suitable, secured area in

  
 7 

	 	
the infield (as applicable) for mobile studio facilities and other broadcast-related units and equipment; 

  

	 	vi)	providing a booth across from the Start/Finish line up to current network broadcast standards, and use best efforts to provide a second booth meeting the same criteria listed herein and adjoining to the first booth if
possible, with a clear view of the entire track, with sufficient space to accommodate a minimum of five (5) people (the booth shall be at least twenty (20) feet wide and ten (10) feet deep with a counter twenty (20) inches deep),
air-conditioned to sixty-eight (68) degrees Fahrenheit, adjustable sun screens or removable tinting on all exterior windows, black interior walls, as sound proof as practical, wired for one hundred-twenty (120) volts AC with outlets on the
front and side walls, with five (5) chairs with back support, tables, monitor tables, and with door(s) that can be locked and secured; 

  

	 	vii)	cooperating with NEM and any Entity to ensure exclusive, and if necessary secure or encrypted, radio frequencies; 

  

	 	viii)	providing meaningful advanced consultation with NEM and the Entity regarding any talent including, but not limited to, pre- and/or post-race concert performer(s), national anthem performer(s), invocation deliverer(s),
grand marshal(s), engine start command deliverer(s), honorary starter(s), celebrities, sports figures, political representatives and/or guests who might take part in pre-race ceremonies, or others with whom PROMOTER arranges for or contracts with to
participate in the Event; and 

  

	 	y)	with respect to any Entity transmitting the Live Broadcast, in addition to the requirements of Section 9.x) PROMOTER shall: 

  

	 	i)	provide a maximum of three hundred (300) choice complimentary tickets for the Competition and all other activities during the Event, provided that NEM shall require the Entity to notify PROMOTER of the
number of such tickets it requires not later than ninety (90) days prior to the date of the Event; 

  

	 	ii)	provide use of one (1) standard luxury track suite, and use best efforts to provide a second standard luxury track suite, for the Competition and all other activities during the Event including all necessary suite
passes and suite parking; 

  

	 	iii)	prominently display Entity’s (or joint Entity/NASCAR) logo painted in an area inside the track, such as the infield grass, such that it is highly visible to grandstand seating, television cameras and from the air
and also display four (4) standard size signs, to the Entity’s specifications within the Facility, subject to the reasonable approval of PROMOTER and NEM; 

 

	 	iv)	provide such Entity with one (1) full page four (4) color advertisement in each Event Program; 

  

	 	v)	cooperate fully with any and all requests made by NEM with respect to local TV coverage, including but not limited to allowing such Entity to have absolute priority with respect to camera and announcing positions,
ensuring that local TV crews do not in any way interfere with such Entity’s production, ensuring that such local TV coverage will be limited to no more than two (2) minutes of action of competition, which will not be broadcast until
completion of such Entity’s first telecast of the Competition and not later than ninety-six (96) hours following the completion of the Competition, and ensuring local TV crews do not provide footage to any regional or national network or
news feed; 

  
 8 

	 	vi)	permit such Entity, if requested in a timely manner, to purchase Event hospitality chalets; 

  

	 	vii)	use its reasonable efforts to cause the title sponsor of the Event to buy advertising in the telecasts of the Event; NEM shall in turn cause the NASCAR Rights Affiliate to include in the Live Broadcast Contract(s)
provisions that (a) prohibit the Entity from identifying the Event by any name other than the official event title, as designated by the PROMOTER, or identifying the Facility by any name other than its official name, as designated by the
PROMOTER, subject to NEM’s approval of Entitlement Sponsor(s) in accordance with Section 23, (b) require the Entity to identify the Event by its official event title, as designated by the PROMOTER, excluding any presenting sponsors,
at least once during the opening segment of the telecast and thereafter at least once during each hour of the telecast, subject to NEM’s approval of Entitlement Sponsor(s) in accordance with Section 23, and (c) prohibit the Entity
from superimposing, inserting or otherwise incorporating on-screen any electronic or “virtual” signage, promotion or other commercial designation that alters for the television viewer the actual appearance of the Facility or any portion
thereof without the prior written approval of PROMOTER and NEM; 

  

	 	viii)	at least ninety (90) days prior to the Event, send such Entity and NEM and any international telecaster scheduled to be broadcasting from the Facility a list naming all musical compositions scheduled to be played
during the Competition or at any other time when such Entity or international telecaster is scheduled to be broadcasting from the Facility in connection with the Event, which shall include the title of each composition and the name of the composer,
publisher, copyright holder, and performing rights holder; and if such Entity is unable to transmit such composition with respect to the Live Broadcast of the Event without additional expense and authorizations, PROMOTER agrees (a) to obtain,
at PROMOTER’s expense, authorization to transmit such composition or (b) not to play such composition at a time when the Entity is scheduled to be broadcasting from the Facility in connection with the Event; 

 

	 	ix)	insure that the Start/Finish line is newly painted prior to the start of the Competition. 

10. Fire and Medical Equipment and Personnel. PROMOTER shall provide adequate facilities, personnel, equipment and services,
including without limitation cleanup crews, towing and flatbed wreckers, jet dryers, ambulances, emergency vehicles, medical evacuation helicopter, fire trucks for fire protection and on-site medical services for Competitors, Officials, the public
and others in connection with the Event, all of which shall be on-site and in a state to be fully operational prior to the commencement of the Competition. PROMOTER shall adhere to NEM’s required track services event standards and medical
standards, provided that PROMOTER is given a copy of such track services event standards and medical standards prior to the Event, and make advance arrangements with local hospitals and physicians for the prompt, efficient and appropriate treatment
of any and all injuries occurring during the Event. NEM may, at its sole cost and expense, utilize the Air Titan track drying system to dry the track in the event of inclement weather. 

11. Security For Pit and Garage Area. PROMOTER shall furnish adequate security personnel and equipment (in addition to the
requirements of Sections 8 and 9) in the pit and garage area. PROMOTER shall limit access to such areas before, during and after the Event solely to authorized individuals (who must have NEM-approved credentials) and equipment. The PROMOTER will
ensure that all persons who enter restricted areas such as the garage and pits as guests of the PROMOTER or otherwise, sign the standard Release and Waiver of Liability and Indemnity Agreement and, upon request by NEM, provide copies of the signed
Releases to NEM. PROMOTER is solely responsible and liable for the actions of security personnel, provided, however, that PROMOTER shall ensure that all such security personnel will abide by such directions or comply with such requests
as NEM may issue or make from time to time. PROMOTER will permit any current, valid NASCAR-licensed members, NEM guests, NASCAR guests, and/or any other persons designated by NEM access to the Facility or portions of the Facility in accordance with
the type of credential issued to them by NEM. Pursuant to any exploitation of Live Broadcast Rights or Ancillary Rights, NEM shall administer and coordinate Event access for all non-news media, but may assign such responsibility to a NASCAR Rights
Affiliate(s). 

  
 9 

 12. Business Responsibilities Relating to Promotion. PROMOTER shall perform
all obligations imposed on it by this Agreement, including all obligations to provide cooperation, tickets, passes, services and support equipment set forth in Section 9 of this Agreement, at its own expense, without contribution by NEM or
NASCAR. PROMOTER assumes and will perform all business responsibilities in connection with the promotion of the Event (except as otherwise provided by this Agreement), including without limitation business organization, promotional activities,
management, general business affairs, ticket sales, Facility operation and press accommodations. 
 13. Other Track Activities.
PROMOTER shall not schedule or permit any private race car practice or test runs at the Facility for the seven (7) calendar days immediately preceding the first day of official practice for the Event without prior written approval by NEM.
At all times during the calendar year of the Event, PROMOTER agrees to adhere to all terms and conditions of the NASCAR Sprint Cup Series Private Race Car Testing Policy, as it may be amended from time to time, provided that PROMOTER is given a copy
of such Policy prior to the start of the season. PROMOTER shall not allow any private race car testing at the Facility that violates the Policy in effect at the time. PROMOTER shall not schedule or permit any other entertainment activities at the
Facility during the Event without prior written approval by NEM. PROMOTER shall notify NEM at least thirty (30) calendar days prior to the Event of its intention to conduct or permit any such activities. NEM may at its discretion grant its
approval with or without condition, but it shall not unreasonably withhold or condition its approval. Except with respect to scheduling as set forth herein, NEM shall have no responsibility or liability with respect to such activities, and PROMOTER
shall be solely responsible and liable for such activities. The entertainment activities covered by this Section 12 include without limitation other motorsports events, thrill shows, live performances and/or helicopter rides. 

OFFICIAL ENTRY BLANK AND AWARDS 

14. Preparation and Publication of Official Entry Blank. NEM shall compose, print, publish and distribute the Official Entry
Blank (“OEB”) for the Event. The OEB shall be the sole official statement as to the date, place, schedule and length of the Event, the eligibility requirements for Competitors, and monetary and non-monetary awards. PROMOTER shall not
publish an official or unofficial entry blank or supplement, or any other form setting forth monetary or non-monetary awards, without prior written approval from NEM. PROMOTER shall not advertise or otherwise disseminate any information as to
monetary or non-monetary awards for the Event other than those specified in the OEB or NEM-approved supplement. If PROMOTER engages in such publication, advertising or dissemination, PROMOTER shall hold NEM and NASCAR harmless for any and all loss,
expense or damage arising out of such activity, and NEM at its option may also terminate the sanction granted by this Agreement and/or pursue any other remedies against PROMOTER. 

15. Additional Awards. 
  

	 	a)	If PROMOTER contracts for Additional Awards, then, subject to the provisions of Section 14, NEM may publish and distribute a supplement to the OEB posting the Additional Award(s). 

 

	 	b)	PROMOTER shall submit to NEM, no later than sixty (60) calendar days prior to the date of the Event, a list of any and all proposed Additional Awards for the Event. PROMOTER shall obtain NEM’s written consent
prior to contracting for any Additional Award. NEM may reject a proposed Additional Award in its entirety, require different terms for the proposed Additional Award, or require a reallocation of the distribution of such an award among Competitors,
if in NEM’s sole judgment the proposed award will not advance the nature of the competition, will have an adverse impact on the Event, or will be detrimental to the sport of automobile racing, NEM, NASCAR, any sponsors of the Event, or any
sponsors of the NASCAR Sprint Cup Series. PROMOTER assumes full responsibility for, and will indemnify NEM and NASCAR against, any loss, expense or damage incurred as a result of NEM’s determination with respect to any proposed award arranged
by or through PROMOTER. All Additional Awards are subject to independent verification by NEM. 

 16. Unauthorized
Awards. PROMOTER shall not offer an award of any kind, at the Event or any other NEM-sanctioned event, or any other non-NEM sanctioned event, which in any way utilizes or relies upon the points

  
 10 

 
system, money standings, or any other NEM-sanctioned race related results, without NEM’s prior written approval. If PROMOTER offers such an award without NEM’s prior written approval,
NEM may terminate the sanction granted by this Agreement and/or seek to prohibit or enjoin PROMOTER from offering such an award and/or pursue any other remedies available to it. If such an award is offered by a third party without NEM’s prior
written approval, PROMOTER shall cooperate with NEM to prohibit or enjoin the third party from offering such an award. Cooperation by PROMOTER shall include, but is not limited to, the assignment of PROMOTER’s rights to enjoin the third party.
If PROMOTER, in NEM’s sole judgment, fails to cooperate fully with NEM to prohibit or enjoin such an award, NEM at its option may terminate the sanction granted by this Agreement and/or pursue any other remedies available to it. 

PROMOTER’S FINANCIAL AND INSURANCE OBLIGATIONS 

17. NEM Event Fee. PROMOTER shall pay to Awards & Achievement Bureau, Inc., a Florida Corporation, acting as
Paying Agent by wire transfer of funds (but not by ACH or other fund transfer methods), an amount equal to the NEM Event Fee set forth in Exhibit 1 to this Agreement, plus any other monies due NEM for the Event pursuant to this Agreement, unless
otherwise directed by NEM in writing. Time is of the essence. If said monies and fees are not paid in the manner required and by the Payment Date specified in Exhibit 1 to this Agreement, NEM at its option may (a) terminate the sanction granted
by this Agreement, (b) enforce collection of said monies and fees by suit or legal action, and/or (c) pursue any other remedies available to it. NEM shall provide wiring instructions to PROMOTER prior to the Payment Date. NEM shall cause
Paying Agent to: i) send to Competitors payments representing the drivers’ purses, awards and certain other monies to be paid in accordance with the Official Entry Blank, net of any withholding of applicable taxes, as directed by NEM, and; ii)
withhold and remit applicable taxes to applicable taxing authorities in accordance with information provided by PROMOTER. Prior to the Event, PROMOTER shall identify in writing to NEM any and all local and/or state income taxing authorities which
must be satisfied by Paying Agent relative to this Section. The Paying Agent shall withhold taxes and such collected taxes shall be paid by the Paying Agent to the appropriate taxing authorities identified by PROMOTER. The Paying Agent’s
obligation to make payments under this Section shall at all times be conditioned upon the PROMOTER’s wire transfer of the NEM Event Fee in strict accordance with this Agreement, and nothing shall be construed to require the Paying Agent or NEM
or NASCAR to advance its own funds for any purpose. All payments by all parties described in this Section shall be made in lawful money of the United States of America, unless otherwise specified herein. 

18. Insurance. 
  

	 	a)	 Event Insurance. PROMOTER shall obtain and maintain comprehensive general liability insurance that is acceptable to NEM for the Event
from an insurance company that is acceptable to NEM for (i) spectator injury and property damage and (ii) participant legal liability, product liability and advertising liability with a minimum combined single limit equal to but not less
than Fifty Million Dollars ($50,000,000.00) per occurrence, and medical malpractice liability insurance of not less than One Million Dollars ($1,000,000.00) (unless NEM approves a lesser limit in writing prior to the Event). NEM may require
that PROMOTER obtain such insurance in greater amount or scope by providing notice to PROMOTER at least one hundred twenty (120) calendar days prior to the date of the Event. PROMOTER shall deliver to NEM at Daytona Beach, Florida no later than
the Notification Date set forth in Exhibit 1 to this Agreement, a certified true copy of all public liability insurance policies in force for the Event. In all such policies and in all other liability policies obtained and maintained by PROMOTER and
PROMOTER’s parent and affiliated company(ies), including without limitation all umbrella and excess liability policies, the following will be named as insured or additional insured: NASCAR Event Management, Inc., National Association for Stock
Car Auto Racing, Inc., CL Bureau, Inc., Awards and Achievement Bureau, Inc., Motorsports Charities, Inc., and each of their shareholders, directors, officers, employees, agents, Officials, members, parent and subsidiaries; all NASCAR Rights
Affiliates; all Competitors; car sponsors; car owners, all sponsors for the Event or the series of which the Event is a part; ACCUS-FIA, and all third parties with whom NASCAR, NEM, or a NASCAR Rights Affiliate(s) has contracted with respect to the
exploitation of Live Broadcast Rights and Ancillary Rights. All policies shall be primary regardless of insurance carried by NEM, NASCAR or other additional insureds, and contain a cross liability endorsement acceptable to NEM. If (a)

  
 11 

	 	
PROMOTER fails to deliver such policies to NEM by the Notification Date, (b) the policies are not acceptable to NEM, or (c) PROMOTER fails to maintain such policies with the required
minimum coverage throughout the Event, NEM at its option but at PROMOTER’s expense may obtain the required insurance from an acceptable insurance company or NEM may terminate the sanction granted by this Agreement immediately and without notice
to PROMOTER and/or pursue any other remedies available to it. 

  

	 	b)	Broadcast Insurance. NEM shall require the Entity providing the Live Broadcast to maintain statutory and workers’ compensation coverages. NEM shall require the Entity providing the Live Broadcast to
name PROMOTER and NEM as additional insureds on its broadcast and comprehensive general liability policies. These policies shall have a limit of at least One Million Dollars ($1 million) per occurrence and Two Million Dollars ($2 million) annual
aggregate. 

  

	 	c)	NASCAR Insurance Plan. The NASCAR insurance plan (participant/accident coverage in place for NASCAR-licensed Competitors in NEM-sanctioned racing) is not applicable to and does not provide coverage for
Competitors, whether NASCAR-licensed or not, in any non-NEM-sanctioned racing or other activities at the Facility during the Event that are not expressly listed in this Agreement or in a fully executed NEM sanction agreement pertaining to another
NASCAR series running during the Event. 

 ADVERTISING AND USE OF MARKS 

19. Cross Trademark Licenses. 
  

	 	a)	Grant of License by NEM. NEM hereby grants to PROMOTER a non-transferable, non-exclusive, royalty-free license to use, strictly in accordance with the terms of this Agreement, the NASCAR and NASCAR Sprint
Cup Series marks listed on Exhibit 3 to this Agreement (collectively, the “NASCAR Marks”) in connection with the publicity, promotion and advertising of the Event. This license shall terminate upon the expiration or termination of the
sanction granted by this Agreement. 

  

	 	i)	Terms and Conditions of Use. PROMOTER shall display the official NASCAR logo, the official NASCAR Sprint Cup Series logo and the phrase “NASCAR Sprint Cup Series Championship Event”
(collectively, the “Official Logos”) in all publicity, advertising and promotion relating to the Event, in accordance with Section 9.u) of this Agreement. The number and specific location of such displays and the color and size of the
Official Logos shall be subject to NEM’s approval, and PROMOTER shall abide by and comply with all determinations and directives of NEM with respect to such matters. NEM may disapprove and prohibit PROMOTER’s actual or intended use of the
NASCAR Marks in any location, media or publication if NEM determines that such use is or will be detrimental to NEM, NASCAR, to the Event, to the series of which the Event is a part, or to the sport. 

 

	 	ii)	Limited Authorization. This license does not authorize PROMOTER to use the NASCAR Marks in its corporate business or firm name and title nor to use or permit the use of the Marks other than in accordance
with the terms and conditions of this Agreement. 

  

	 	iii)	Indemnity. NEM hereby agrees to indemnify PROMOTER from any claims or loss arising out of PROMOTER’s use of the NASCAR Marks in accordance with the terms and conditions of this Agreement.

  

	 	b)	 Grant of License by PROMOTER. PROMOTER hereby grants to NEM and NASCAR a non-transferable, non-exclusive, royalty-free license to
use and sublicense, strictly in accordance with this Agreement, PROMOTER’s Marks listed on Exhibit 4 to this Agreement (collectively, the 

  
 12 

	 	
“PROMOTER’s Marks”) in connection with publicity, promotion and advertising of the Event and the NASCAR Sprint Cup Series, the publicity, promotion and advertising of the NASCAR
Hall of Fame, and the exploitation of Live Broadcast Rights and Ancillary Rights. This license shall be perpetual with respect to the exploitation of Live Broadcast Rights and Ancillary Rights and the publicity, promotion and advertising of the
NASCAR Hall of Fame; with respect to all other rights, this license shall terminate upon the expiration or termination of the sanction granted by this Agreement. 

  

	 	i)	Terms and Conditions of Use. NEM and NASCAR shall have the right to use and sublicense PROMOTER’s Marks in connection with publicity, promotion or advertising of the Event and the NASCAR Sprint Cup
Series, and the exploitation of Live Broadcast Rights and Ancillary Rights, provided, however, that NEM or NASCAR shall not, without the prior written consent of PROMOTER, use or sublicense the use of PROMOTER’s Marks on the
branding of any retail package product, unless otherwise expressly permitted in this Agreement. 

  

	 	ii)	Limited Authorization. This license does not authorize NEM or NASCAR to use PROMOTER’s Marks in its corporate business or firm name and title nor to use or permit the use of PROMOTER’s Marks
other than in accordance with the terms and conditions of this Agreement. 

  

	 	iii)	Indemnity. PROMOTER hereby agrees to indemnify NEM and NASCAR from any claims or loss arising out of NEM’s or NASCAR’s use of PROMOTER’s Marks in accordance with the terms and conditions of
this Agreement. 

 20. Limited Assignment of Certain Other Rights. Solely to the extent that any other person or
entity grants to NASCAR rights to use and sublicense their name(s), picture(s), likeness(es) or performance(s) in connection with the Event, and NASCAR has sublicensed these rights to NEM, NEM hereby grants to PROMOTER a non-exclusive sublicense to
use such name(s), picture(s), likeness(es) or performance(s) for the purpose of publicizing, promoting or advertising the Event, but not for the purpose of exploiting Live Broadcast Rights or Ancillary Rights. Notwithstanding the foregoing, NEM may
disapprove and prohibit PROMOTER’s actual or intended use of such name, picture, likeness or performance if NEM determines that such use is or will be detrimental to NEM, to NASCAR, to the Event, to the series of which the Event is a part, or
to the sport. 
 21. Misrepresentations. PROMOTER shall make no misrepresentations of fact in connection with publicizing,
promoting or advertising the Event. If such a misrepresentation is made (a) PROMOTER shall promptly correct the misrepresentation through a subsequent PROMOTER publication, (b) NEM may correct the misrepresentation itself through an NEM
publication or through an agent at PROMOTER’s expense, (c) NEM may terminate the sanction granted by this Agreement, and/or (d) NEM may pursue any other remedies available to it. 

22. Cooperation with Sponsors. PROMOTER acknowledges that the Event is part of the NASCAR Sprint Cup Series. PROMOTER shall
cooperate fully with NEM, with the series sponsor(s), and with any other company that has contracted with NASCAR to sponsor awards or programs (including without limitation the Coors Light Pole Award or the Sunoco Rookie-of-the-Year Award) that are
based in whole or in part on a Competitor’s performance in the Event or over a number of NASCAR Sprint Cup Series events, in connection with those sponsors’ activities, if any, during the Event. PROMOTER, on its own and at the request of
NEM, will use its best efforts to feature such sponsors prominently in all of PROMOTER’s advertising, publicity and promotion in connection with the Event, and no competitor of such a sponsor shall be featured therein as prominently as such
sponsor. PROMOTER shall take no action that, in NEM’s sole determination, will jeopardize the maintenance or continuation of such sponsorships. In the event that the series title sponsorship or official fuel supplier changes after the Effective
Date of this Agreement and prior to the conclusion of the Event, PROMOTER will not renew, extend or enter into any new agreement with any sponsor that represents a conflict with the new series sponsor or official fuel supplier during the Event. The
determination of what constitutes a conflict shall be at NEM’s sole discretion. PROMOTER will use its best efforts to resolve all existing sponsor conflicts, if any, relative to these categories in an expeditious manner. PROMOTER will maintain
the full 

  
 13 

 
inventory of at-track and Event-related benefits provided by the PROMOTER to the current series sponsor for the availability of a new series sponsor. PROMOTER will maintain the full inventory of
at-track and Event-related benefits provided by the PROMOTER to the current official fuel supplier for the availability of a new official fuel supplier, provided that the new series sponsor and the new official fuel supplier shall enter into a
licensing agreement with the PROMOTER with respect to such rights. PROMOTER shall permit the use of the PROMOTER’s Marks by the new series sponsor and by the new official fuel supplier for the purposes of reporting, promoting, publicizing, and
advertising the Event, the Series, and/or the new series sponsor’s or new official fuel supplier’s product/service affiliation with the Event and/or the Series. 

23. Approval of Advertising and Sponsors. It is imperative that NEM events and industry sponsors reflect of the image of NASCAR
as one of the world’s most successful and exciting sports entertainment properties and that fans feel comfortable and welcome attending or watching NEM events. Therefore, NEM reserves the right to approve or disapprove any advertising,
sponsorship or similar agreement in connection with the Event. PROMOTER must submit to NEM for NEM’s reasonable pre-approval any and all Entitlement Sponsors. NEM shall be required to keep the identity of any such prospective Entitlement
Sponsor prospect strictly confidential at all times, sharing the identity of any such prospective Entitlement Sponsor only with NEM personnel directly involved with the approval process, and provide such approval or disapproval in writing within
three (3) business day after receipt by NEM of the submission by PROMOTER to NEM. NEM’s failure to respond shall be deemed an approval. PROMOTER shall make such submission in a timely fashion to NEM per Section 42, but not later than
thirty (30) days prior to the Event unless PROMOTER’s agreement with such sponsor is only consummated within that time window. NEM confirms that only internal NEM personnel will be involved in the process of making the approval or
disapproval determination. NEM’s approval shall not be unreasonably conditioned, delayed or withheld, and NEM further agrees that it will disapprove of a prospective Entitlement Sponsor only if such prospective Entitlement Sponsor’s brand
has been tarnished by, controversy, crisis or circumstance such that its association with the Event would damage the NASCAR brand or the image of the sport, or the Entitlement Sponsor’s brand would violate the network’s broadcast standards
or if, because, prospective sponsor’s brand has been tarnished by, controversy, crisis or circumstance it would damage the network’s ability to sell advertising for the live Event broadcast. 

Previously approved sponsors shall continue to be deemed approved, unless, in NEM’s sole reasonable discretion, the Entitlement Sponsor’s brand has
become tarnished by, controversy, crisis or circumstance such that its association with the Event would damage the NEM brand or the image of the sport, or the continued use of the Entitlement Sponsor’s brand would violate the network’s
broadcast standards or if, because the existing sponsor’s brand has now become tarnished by, controversy, crisis or circumstance it would now damage the network’s ability to sell advertising for the live Event broadcast. 

NEM will work with all affected parties to mitigate the impact of a revocation of a previously approved Entitlement Sponsor including but not limited to,
considering a modified sponsorship, considering the substitution of another brand owned by the Entitlement Sponsor, reconsidering the sponsorship at a time when the Entitlement Sponsor brand image has recovered or no longer violates the
broadcaster’s standards or damages their ability to sell advertising for the live Event broadcast. 
 The parties acknowledge that sponsorship is an
important part of the sport. If PROMOTER believes a prospective or previously approved Entitlement Sponsor was denied or disapproved in error, PROMOTER may request reconsideration within three (3) business days of denial of an Entitlement
Sponsor. A committee comprised of the President of NASCAR, the Senior Vice President Racing Operations and at least one other NASCAR Vice President shall review the prospective sponsorship and within three (3) additional business days in good
faith reconsider whether the sponsorship is acceptable or whether with some reasonable modification the sponsorship could be rendered acceptable. However, NASCAR’s determination, upon reconsideration, shall be final and in its sole reasonable
discretion not to be unreasonably conditioned, delayed or withheld. 
 PROMOTER acknowledges that the sale or use, for advertising purposes, of space at the
Facility or in any publications distributed in connection with the Event is an action that could have an impact upon the existing sponsorships described in Section 22 above, or on third parties who have entered into contracts or other
agreements with NEM, NASCAR or NASCAR Rights Affiliates with respect to Live Broadcast Rights or Ancillary Rights. PROMOTER shall seek written 

  
 14 

 
approval by NEM prior to such sale to or use by competitors of such sponsors or third parties, which NEM may provide or withhold in its sole discretion. 

24. National Program Package. PROMOTER shall participate in the NASCAR National Program Ad Package, including the rules and
regulations relating thereto, if offered. 
 BROADCAST RIGHTS 

25. Ownership of Live Broadcast Rights and Ancillary Rights. PROMOTER acknowledges that NASCAR, exclusively and in perpetuity
owns the Live Broadcast Rights and Ancillary Rights with respect to the Competition. In addition, to the extent not already owned by NASCAR, PROMOTER hereby assigns to NEM exclusively and in perpetuity any and all rights to transmit, film, tape,
capture, overhear, photograph, collect or record by any means, process, medium or device, whether or not currently in existence, all images, sounds and data arising from or during the Event and agrees that NEM shall further assign, exclusively and
in perpetuity, to NASCAR all right, title and interest in and to the Live Broadcast Rights and the Ancillary Rights and any other works, copyrightable or otherwise, created from the images, sounds and data arising from or during the Event, and that
NASCAR shall be the sole and ultimate owner thereto. PROMOTER represents and warrants that as of the date of this Agreement, it has not granted to any third party the rights granted in the immediately prior sentence, including but not limited to
rights relating to the Internet or World Wide Web, unless otherwise expressly disclosed in writing to NEM prior to the date of this Agreement. PROMOTER shall take all steps reasonably necessary, and all steps reasonably requested by NEM, to protect,
perfect or effectuate NASCAR’s ownership or other interest in the rights that are the subject of this Section 25. Without limiting the foregoing, PROMOTER will include (a) the broadcast rights language for tickets specified in Exhibit
5 of this Agreement on all Event admission materials including without limitation tickets, suite passes and credentials, and (b) the broadcast rights language for ticket-related material specified in Exhibit 5 of this Agreement on all renewal
forms, ticket brochures and related material distributed to recipients of such admission materials. PROMOTER may obtain from NEM or a NASCAR Rights Affiliate, without charge to the PROMOTER, images, sounds or data that are the subject of this
Section 25, but only for the purpose of publicity, promotion or advertising of the Event, and only to the extent determined by NEM to be reasonably required for such purpose. 

26. Exploitation of Live Broadcast Rights and Ancillary Rights. NASCAR may, but shall not be obligated to, exploit Live
Broadcast Rights and Ancillary Rights. If and to the extent NASCAR decides to exploit such rights, it may form or cause to be formed one or more NASCAR Rights Affiliates and it may assign some or all of the rights owned by or granted to it pursuant
to Section 25 to the extent determined by NASCAR to be reasonably necessary to permit such exploitation. NASCAR or such NASCAR Rights Affiliates may further assign, grant, sell, license, lease or otherwise transfer such rights, either alone or
in combination with other similar rights, combine Live Broadcast Rights and Ancillary Rights with other similar rights obtained from other promoters, Competitors, sponsors, NEM, broadcasters or other third parties, enter into agreements of any kind
with respect to any part or all of such rights, including without limitation agreements with or between NASCAR and other NASCAR Rights Affiliates, PROMOTER, or third parties, and generally take such action as they may determine to be appropriate.
Subject only to the obligation imposed on NASCAR by the immediately succeeding sentence in this Section 26, NASCAR may license, assign, or otherwise transfer rights in or to any NASCAR Intellectual Property for a commercially reasonable rate to
one or more NASCAR Rights Affiliates, but any income or revenue received or generated by NASCAR as a result of such a transaction shall be solely for the account of NASCAR or its assignee and shall not be subject to payment to the PROMOTER or any
other person or entity under the terms of this Agreement. NASCAR shall license, assign, or otherwise transfer rights in or to any NASCAR Intellectual Property, without fee, to one or more NASCAR Rights Affiliates to the extent determined by such
Affiliates to be reasonably necessary to permit them to exploit Live Broadcast Rights. 
 27. Payment of Live Broadcast Income.
On or before ten (10) business days after the Event Date listed in Exhibit 1, NEM shall cause the NASCAR Rights Affiliate(s) engaged in the exploitation of Live Broadcast Rights to pay, on PROMOTER’s behalf, twenty-five percent
(25%) of Event Broadcast Income to Awards and Achievement Bureau, Inc., acting as Paying Agent, for distribution to the Competitors as part of the purse for the Event. On or before thirty (30) calendar days after the Event, NEM shall cause
the NASCAR Rights Affiliate(s) to pay sixty-five percent (65%) of Event Broadcast Income to PROMOTER. Notwithstanding the foregoing: 

  
 15 

	 	a)	PROMOTER has no right to Event Broadcast Income if the Competition is not commenced and officially completed (as determined in accordance with the Rule Book). 

 

	 	b)	If, for any reason, the Live Broadcast Income to be received by NEM or the NASCAR Rights Affiliate(s) is reduced in whole or in part, or if NEM or the NASCAR Rights Affiliate(s) becomes obligated to repay any portion of
Live Broadcast Income, the NASCAR Rights Affiliate’s obligation to make the payments otherwise required by this Section 27 shall be reduced by an amount calculated by multiplying the reduction or repayment by the percentage set forth in
Exhibit 1. If payment of the PROMOTER’s share of Live Broadcast Income had been made to PROMOTER prior to the determination of a reduction in, or an obligation to repay a portion of, Live Broadcast Income, then PROMOTER shall be obligated to
repay NEM or the NASCAR Rights Affiliate(s) a prorated share in accordance with the percentage set forth in Exhibit 1 within thirty (30) calendar days after notification by NEM. If, for any reason, receipt of the Live Broadcast Income to be
received by NEM or the NASCAR Rights Affiliate(s) is delayed in whole or in part, the payments stipulated in this Section 27 will correspondingly be delayed, but only to the extent of the original delay in receipt. 

NASCAR shall receive the NASCAR Television Retention (ten percent (10%) of Event Broadcast Income) for its own account. 

28. Payment of Net Income before Industry Expenses and after Income Tax Provision. NEM will cause the NASCAR Rights Affiliate(s)
engaged in the exploitation of Ancillary Rights to distribute Net Income before Industry Expenses and after Income Tax Provision as follows: 
  

	 	a)	Timing. Within three (3) months after the end of the calendar year during which the Event is held, the NASCAR Rights Affiliate(s) shall determine the total amount of Net Income before Industry
Expenses and after Income Tax Provision, if any, earned by it during that calendar year. Within thirty (30) calendar days after such determination, the NASCAR Rights Affiliate(s) shall distribute such Net Income before Industry Expenses and
after Income Tax Provision pursuant to the formula set forth in Section 28.b) below. Notwithstanding the foregoing, PROMOTER has no right to Event Net Ancillary Rights Income if there is an Event of Default giving rise to the termination of this
sanction or the withholding of payments in accordance with Section 31, or if the Competition is not commenced and officially completed (as determined in accordance with the Rule Book), unless the sole reason that the Event is not commenced and
officially completed is a strike, war, declaration of a state of national emergency, or an act of God or the public enemy or other circumstances beyond the control of PROMOTER). 

 

	 	b)	Allocation. The NASCAR Rights Affiliate(s) shall pay: (i) twenty-five percent (25%) of Net Income before Industry Expenses and after Income Tax Provision to Awards & Achievement Bureau,
Inc. for distribution as part of the Point Fund awards at the end of the next calendar year, for programs designed for the benefit of Competitors, as NEM may determine from time to time and (ii) sixty-five percent (65%) of Event Net
Ancillary Rights Income to PROMOTER. NASCAR shall receive the remaining ten percent (10%) of Net Income before Industry Expenses and after Income Tax Provision for its own account. 

29. Maintenance of and Access to Contracts and Other Books and Records. Each NASCAR Rights Affiliate will maintain for a period
of four (4) years from the date of the Event (a) true and complete copies of any written Live Broadcast Rights Contract relating to the Event and/or any Ancillary Rights Contract generating Event Net Ancillary Rights Income, (b) such
books and records as are commercially reasonable for the purpose of auditing its Live Broadcast Income and Net Ancillary Rights Income before Industry Expenses and after Income Tax Provision received during the calendar year in which the Event is
held. Each NASCAR Rights Affiliate will permit PROMOTER or its authorized agent to inspect and audit any or all such contracts, books and records, wherever they may be located or at any other mutually agreeable location, but only upon reasonable
notice and at such reasonable times as determined by the NASCAR Rights Affiliate, and only at the business premises of the NASCAR Rights Affiliate where they are located, and subject at all times to Section 36 (relating to confidentiality and
proprietary information). 

  
 16 

 30. Limitation of Liability. NASCAR and the NASCAR Rights Affiliate(s) shall
be solely responsible for, and shall have complete discretion with respect to, the manner, extent and timing of any license, assignment, transfer or other use or exploitation of Live Broadcast Rights and Ancillary Rights, either through independent
third parties, NASCAR Rights Affiliate(s) or otherwise. NASCAR, NEM, and the NASCAR Rights Affiliate(s) shall have no liability to PROMOTER with respect to such activities or the amount of Live Broadcast Income or Net Income before Industry Expenses
and after Income Tax Provision arising out of or generated by such activities. PROMOTER hereby promises and covenants not to assert any claim or file any suit or other legal action against NASCAR, NEM or any NASCAR Rights Affiliate on the ground
that it or they have failed in any way, material or otherwise, to exploit, maximize or earn profits of any kind or amount with respect to Live Broadcast Rights or Ancillary Rights. 

GENERAL PROVISIONS 

31. Events of Default. For purposes of this Agreement, “Event of Default” means: 

 

	 	a)	Failure of PROMOTER to abide by the material provisions of this Agreement or the Rule Book; 

  

	 	b)	Failure of PROMOTER to take such actions, or refrain from taking actions, as reasonably may be requested by NEM in accordance with this Agreement; 

 

	 	c)	Any act, omission or condition expressly described in this Agreement as giving NEM the right to terminate this Agreement or the sanction granted by this Agreement; 

 

	 	d)	A change, material or otherwise, in the ownership, control or management of PROMOTER; 

  

	 	e)	A statement by PROMOTER that it is not or will not be able to pay its debts as they become due; an application or agreement by PROMOTER for the appointment of a receiver or trustee in liquidation; a general assignment
by PROMOTER for the benefit of creditors; the filing by PROMOTER of a voluntary petition in bankruptcy or a petition seeking reorganization or an arrangement of creditors under any bankruptcy law; the filing by another person or entity of a petition
under any bankruptcy law that makes PROMOTER a party; or the adjudication of PROMOTER as bankrupt under any bankruptcy law; 

  

	 	f)	Activity by PROMOTER of any kind, including without limitation litigation, that NEM determines to be detrimental to the sport, to NEM, or to NASCAR. 

 

	 	g)	Failure to provide financial guarantees, if required, as follows: if NEM becomes aware, through any means, of a possible change in the PROMOTER’s affairs which might reasonably be determined to have a material
adverse effect on the organization or conduct of the Event including, but not limited to, the withdrawal or reduction of major Event sponsorship(s), delinquencies or defaults by PROMOTER in payments to other entities, litigation relative to the
Event, PROMOTER or the Facility, failure of PROMOTER to perform under similar agreements with third parties for other events, and so on, then NEM may require PROMOTER to take whatever action that NEM determines is necessary to insure the successful
organization and conduct of the Event. Such action may include, but is not limited to, posting a bond, providing an irrevocable letter of credit, and/or providing a financial instrument or mechanism sufficient to guarantee, in NEM’s reasonable
discretion, that all financial obligations of the PROMOTER relative to the Event can be met. 

 If there is an Event of Default, at its option
NEM may demand that PROMOTER cure any failure or breach giving rise to the Event of Default or terminate this Agreement or the sanction granted by this Agreement, and/or NEM may withhold from any payments due to PROMOTER under this Agreement an
amount reasonably calculated to hold harmless NASCAR, NEM, NASCAR Rights Affiliate(s), sponsors, Competitors, Officials, persons or entities contracting with NASCAR, NEM or NASCAR Rights Affiliate(s), with respect to Live Broadcast Rights or
Ancillary Rights, and other persons or entities involved in the Event, from any loss resulting from the Event of Default. NEM’s determination as to 

  
 17 

 
such amount is binding on PROMOTER. NEM shall notify PROMOTER in writing of its decision to terminate and/or to withhold payments. If the sanction is terminated, such termination shall be
effective as of the date the notice was sent by NEM or at such later date as may be specified by NEM in the notice. PROMOTER shall promptly comply with all monetary obligations that have accrued as of the effective date of termination, and all other
terms and conditions of this Agreement shall survive such termination. Nothing in this Section 31 shall be construed to limit NEM’s or NASCAR’s other rights or remedies, or to preclude NEM or NASCAR from enforcing such rights or
pursuing such remedies to the fullest extent possible. 
 32. Assignment. A party may not assign its rights or delegate its
obligations under this Agreement without the prior written consent of the other party, except as otherwise permitted by this Agreement. 

33. Determinations by NEM. Except where expressly stated otherwise, whenever this Agreement provides or permits NEM to make a
determination regarding a matter, NEM may make such determination in its sole judgment and discretion, and such determination may not be challenged, amended, voided or nullified on the ground that it was incorrect or unreasonable. 

34. Limited Application. This Agreement and the sanction granted herein relate solely to the Event and the date set forth in
Exhibit 1 to this Agreement. Nothing in this Agreement, or in the course of dealing between the parties, will be construed to require PROMOTER or NEM to enter into a sanction agreement or to issue a sanction for the Event or any other event in the
future. 
 35. Disclaimer of Warranty. NEM (on behalf of itself, NASCAR, and each and every NASCAR Rights Affiliate,
whether existing now or created hereafter) does not warrant, either expressly or by implication, nor is it responsible for, the financial or other success of the Event, the number or identity of sponsors, the number or identity of vehicles or
Competitors participating in the Event, the adequacy of the services it provides, the suitability of the Facility for the Event, the safety of the public, the Competitors or any other person entering the Facility in connection with the Event, the
financial return from the exploitation of Live Broadcast Rights or Ancillary Rights, or any other matter not expressly agreed to or warranted by NEM herein. 

36. Proprietary Information; Confidentiality. PROMOTER acknowledges that (i) this Agreement, (ii) any technical,
business or financial information or documents used, provided or disclosed by NEM or any NASCAR Rights Affiliate in connection therewith or pursuant thereto, (iii) customer lists of any kind or nature used, provided or disclosed by NEM or any
NASCAR Rights Affiliate, (iv) the manner in which NEM or any NASCAR Rights Affiliate engages in the exploitation of Live Broadcast Rights or Ancillary Rights, (v) the manner in which NEM conducts and controls the Competition, (vi) the
manner in which NEM promotes the Event, the series of which the Event is a part, and the sport of stock car racing in general, and (vii) the manner in which NASCAR and/or NEM forms, promotes and maintains relationships with sponsors,
Competitors, Officials, other promoters, fans and other third parties involved in the Event (collectively “NEM Proprietary Information”), constitutes information that is proprietary to NASCAR, NEM and/or the NASCAR Rights Affiliate(s) and
may not be used by PROMOTER except in connection with the performance of PROMOTER’s duties under this Agreement. Except for that purpose, PROMOTER shall at all times and forever maintain NEM Proprietary Information in a confidential manner and
shall not disclose it or use it on behalf of itself or any third party unless it is in the public domain as a result of an act or omission caused by a person or entity other than PROMOTER. PROMOTER acknowledges that any unauthorized use or
disclosure of NEM Proprietary Information that is in violation of this Section 36, or other violation or threatened violation of this Section 36, could cause irreparable damage to NASCAR, NEM, and/or the NASCAR Rights Affiliate(s) and,
therefore, that NASCAR, NEM, and/or the NASCAR Rights Affiliate(s) shall be entitled to an injunction prohibiting PROMOTER or any related party from engaging in such violation and to attorney’s fees and costs for having to bring any action to
enforce this Section 36. 
 37. No Joint Venture. Nothing in this Agreement will be construed to place NASCAR, NEM, or
NASCAR Rights Affiliate(s) in the relationship of a partner or joint venturer with PROMOTER. Neither party may, or has power to, obligate or bind the other party in any manner other than as provided expressly in this Agreement. 

  
 18 

 38. Series Name. NASCAR may modify, alter, change or replace the name or sponsor of
the series of which the Event is a part, at any time. NEM shall notify PROMOTER of such modification, alteration, change or replacement. In that event, PROMOTER shall use the new name and related logos or marks in all communications, advertising,
publicity and promotion relating to the Event. 
 39. Indemnification; Repayment. PROMOTER shall indemnify and hold NASCAR,
NEM and all NASCAR Rights Affiliates and NEM additional insureds (as specified in Section 18.a.) harmless from any and all claims, allegations, demands, obligations, suits, actions, causes of action, proceedings, rights, damages, and costs of
any nature arising out of the Event or this Agreement, unless such claim, allegation, demand, obligation, suit, action, cause of action, proceeding, right, damage or cost arises solely out of the negligent act or negligent omission of NASCAR, NEM,
or any NASCAR Rights Affiliate or any NEM additional insureds. With respect to any matter falling within the scope of PROMOTER’s obligation to defend and hold NASCAR, NEM, NEM additional insureds and the NASCAR Rights Affiliates harmless,
NASCAR, NEM and the NASCAR Rights Affiliate and NEM additional insureds shall be entitled to select counsel to represent it in such matter at PROMOTER’s expense, and that counsel’s duties and obligations in all respects shall be solely to
NASCAR, NEM, and to the NASCAR Rights Affiliate(s) and to the NEM additional insureds. 
 40. Recovery of Attorney’s
Fees. In the event of litigation arising out of the enforcement of this Agreement or its terms and conditions, attorney’s fees and costs shall be awarded to the prevailing party. 

41. Representation Regarding Ownership of Facility. PROMOTER represents and warrants that, during the calendar year in which the
Event is conducted and at all other times material to this Agreement, with respect to the Facility and the material assets thereof, either it holds, and will hold at all times relevant to the Event: (i) good and marketable title; or (ii) a
valid and binding leasehold or other contractual interest for the management and operation of the Facility. PROMOTER represents and warrants that it is the direct owner or lessee of the material assets (other than real estate) of the Facility and no
material assets (other than real estate) of the Facility are owned or leased through a subsidiary, affiliate, parent corporation, sister corporation or, in the case of an individual, a family member of the PROMOTER. In the event PROMOTER is not able
to make such representations and warranties as set forth above, then that entity which can make such representations and warranties must execute the Guaranty Agreement attached hereto as Exhibit 6. 

42. Notice. Unless otherwise permitted herein, notice required by the Agreement shall be given by facsimile/telecopy, and by
overnight mail or other express service, postage prepaid, addressed as follows: 
  

			
	TO NEM:	  	NASCAR Event Management, Inc.
		  	International Motorsports Center
		  	One Daytona Boulevard
		  	Daytona Beach, FL 32114
		
		  	Attention: Steve O’Donnell
		
		  	With a copy to:
		
		  	W. Garrett Crotty, Esq.
		  	(at the same location)
		
		  	Requests for NEM approval and/or consent (including but not limited to Entitlement Sponsor), notification of planned improvements or alterations to the Facility, and information the PROMOTER must provide to NEM per this Agreement
to: sponsorapproval@nascar.com or send overnight mail to NEM address listed above.
		
	TO PROMOTER:	  	The Address set forth in Exhibit 1 to this Agreement

  
 19 

 43. Notification Change. Either party may change the person(s) or locations to
which notice must be given pursuant to Section 42, by providing written notice to the other party in accordance herewith. 
 44.
Entire Agreement; Amendments. This Agreement, including Exhibits 1 through 6 hereto, constitutes the entire agreement between NEM and PROMOTER. All previous communications and negotiations between NEM and PROMOTER, whether oral or
written, not contained herein are hereby withdrawn and void. This Agreement may not be amended except in writing and signed by both parties. 

45. Agreement Binding on Heirs, Successors and Assigns. The rights and obligations contained in this Agreement shall
bind, and inure to the benefit of, the parties and their respective successors and permitted assigns. 
 46. Governing Law.
This Agreement shall be governed by and construed according to the laws of Florida applicable to agreements made and to be performed therein (without giving effect to the conflict of law provisions of such jurisdiction). 

47. Jurisdiction. With respect to any litigation between the parties arising out of, or relating in any way to, the
business relationship between the parties, including but not limited to the Event, the Agreement, or any proposed business relationship between the parties, venue shall lie solely in a state court sitting in Volusia County, Florida, or the United
States District Court for the Middle District of Florida, Orlando Division if in a case of exclusive federal jurisdiction, and all parties hereto consent to service of process by, and the jurisdiction of, those courts. 

IN WITNESS WHEREOF, this Agreement has been read and signed by the duly authorized representative of each party, on the dates set forth below. 

 

									
		 		 		 	Dover International Speedway, Inc.
		 		 		 	PROMOTER
		 		 		 	BY:	 	
				
	Date:	 	 10/7/13
	 		 	 /s/ DENIS MCGLYNN

		 		 		 	Signature
					
		 		 		 	Print Name:	 	 Denis Glynn

					
		 		 		 	Title:	 	 President

				
		 		 		 	NASCAR Event Management, Inc.
		 		 		 	BY:	 	
				
	Date:	 	 11/4/13
	 		 	 /s/ STEVE O’DONNELL

		 		 		 	Steve O’Donnell

  
 20 

 ADDENDUM TO 

SANCTION AGREEMENT 

(Radio Rights) 
 This
Addendum Agreement (“Addendum”) to the Sanction Agreement (“Agreement”) between NASCAR Event Management, Inc. (“NEM”), a corporation with its principal offices located in Daytona Beach, Florida, and the PROMOTER
(specified on Exhibit 1 to the Agreement), is entered into and is effective as of the Effective Date (specified on Exhibit 1 to the Agreement). 

RECITALS 
 WHEREAS,
NEM and PROMOTER are entering into the Agreement on the terms and as of the Effective Date stated therein; and 
 WHEREAS, NEM and PROMOTER
wish to amend certain provisions in the Agreement by this Addendum; 
 NOW, THEREFORE, NEM and PROMOTER, in consideration of the mutual
promises set forth below, and intending to be legally bound, agree to the following Addendum to the Agreement: 
 ADDENDUM AGREEMENT

 A. Amendment to Section 25. Section 25 of the Agreement is hereby amended by adding at the end of
such section the following: 
 “NEM hereby licenses to PROMOTER exclusively the use of that portion of Ancillary Rights
for the purpose of sublicensing such rights for the broadcast and rebroadcast, on either a contemporaneous or delayed basis, by conventional AM, FM or short-wave radio (but not by any other means of transmission), of the performance of the Event
(“Radio Rights”). Nothing in the immediately preceding sentence shall be construed as an assignment or other license, grant, assignment or other transfer of (i) Radio Rights for any event or other activity in any year other than
calendar year 2014 or for any purpose or use other than set forth above, (ii) Live Broadcast Rights, or (iii) Ancillary Rights other than Radio Rights.” 

B. Conflicts. If any other provision in the Agreement conflicts with any provision in this Addendum, the provision in
the Agreement shall be construed or, if necessary, amended to give effect to the provision in this Addendum with which it conflicts. 

IN WITNESS WHEREOF, this Addendum has been read and signed by the duly authorized representative of each Party, on the dates
set forth below. 
  

									
		 		 		 	Dover International Speedway, Inc.
		 		 		 	PROMOTER
		 		 		 	BY:	 	
				
	Date:	 	 10/7/13
	 		 	 /s/ DENIS MCGLYNN

		 		 		 	Signature
					
		 		 		 	Print Name:	 	 Denis McGlynn

					
		 		 		 	Title:	 	 President

				
		 		 		 	NASCAR Event Management, Inc.
		 		 		 	BY:	 	
				
	Date:	 	 11/4/13
	 		 	 /s/ STEVE O’DONNELL

		 		 		 	Steve O’Donnell

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