Document:

EX-10.6

 Exhibit 10.6 
  

 
 51 West 52nd Street 

New York, NY 10019 
 Joseph R. Ianniello 

c/o CBS Corporation 
 51 W. 52nd Street 
 New York, NY 10019 
  

			
	Dear Joe:	  	                                      
                      Dated as of August 13, 2019

 Reference is made to your employment agreement with CBS Corporation (“CBS”), dated as
of July 1, 2017 (the “Employment Agreement”), as amended by that letter agreement dated as of September 9, 2018 (the “2018 Letter Agreement”) and as further amended by that letter agreement
dated as of April 23, 2019 (the “2019 Letter Agreement”) (together, the “Agreement”). All defined terms used without being defined herein shall have the meanings ascribed to them in the Agreement.
This letter agreement amends and modifies the Agreement as set forth herein. The provisions of this letter agreement shall be effective as of the date hereof, unless another effective date is provided. This letter agreement is being signed
concurrently with the execution of the Agreement and Plan of Merger dated as of the date hereof (the “Merger Agreement”) between CBS and Viacom Inc. (“Viacom”), which contemplates the merger of Viacom
with and into CBS (the “Transaction”). 
  

	 	1.	 Term/Acting CEO. Paragraph 1 of the Agreement shall be amended to reflect that the Expiration Date is
February 1, 2020 or the termination date in the Merger Agreement, if earlier, but not earlier than December 31, 2019. 

  

	 	2.	 Definition of Good Reason. The definition of Good Reason in paragraph 7(c)(i) of the Agreement is
amended to replace the reference to “December 31, 2019” in clause (A) with a reference to “February 1, 2020 or the termination date in the Merger Agreement, if earlier, but not earlier than December 31, 2019.”

  

	 	3.	 Term/Consulting Period. Section 6 of the 2019 Letter Agreement is amended to replace the reference
to “December 31, 2019” with a reference to “February 1, 2020 or the termination date in the Merger Agreement, if earlier, but not earlier than December 31, 2019.” Section 7 of the 2019 Letter Agreement (relating to the
Consulting Period) is hereby deleted. 

  

	 	4.	 Entry into New Employment Agreement. Provided the Transaction is consummated on or before
February 1, 2020 and that you have remained an employee of CBS through such date, you agree that on the date of consummation of the Transaction (the “Closing Date”),

 Joseph R. Ianniello 

As of August 13, 2019 
 Page 2 

 

	 	
you will enter into a new employment agreement with CBS in the form attached hereto as Exhibit A (the “New Employment Agreement”). 

 

	 	5.	 Payout of Amounts Owed under the Agreement. If you enter into the New Employment Agreement on the
Closing Date, you will receive all amounts that you would have received under the Agreement had your employment with CBS terminated on the day before the Closing Date under the circumstances described in paragraph 7(j)(ii) of the Agreement (other
than the amounts set forth in paragraph 7(j)(ii)(C), 7(j)(ii)(D), 7(j)(ii)(G) of the Agreement and Section 8 of the 2019 Letter Agreement, which shall be superseded by the provisions of the New Employment Agreement). The amounts payable under
this Section 5 shall be paid at the same time and in the same form as provided in paragraph 7(j)(ii) of the Agreement, as modified by Section 6 of the 2019 Letter Agreement, assuming your employment had terminated on the day before the
Closing Date. Any amounts that are not payable within 30 days of the Closing Date due to restrictions under Code Section 409A or Code Section 162(m) shall be deposited within 10 days following the Closing Date into a “rabbi
trust” pursuant to a trust agreement in the form attached hereto as Exhibit B (the “Rabbi Trust”). The Company shall indemnify you (on a net after-tax basis) for any additional
taxes (including any interest or penalties thereon) that may be assessed under Code Section 409A with respect to the payments to be made under this Section 5, including the costs of contesting any such assessment. 

 

	 	6.	 RSU Award. In consideration for your entering into this letter agreement, CBS shall grant you,
concurrently with the execution of this letter agreement, 450,000 RSUs representing 450,000 shares of CBS’ Class B Common Stock (the “Merger RSU Award”), pursuant to an award agreement in the form of your previous
grants.    The Merger RSU Award shall vest (i) as to one-fifth of the RSU Award, on the three-month anniversary of the Closing Date and (ii) as to the remaining four-fifths of the
RSU Award, ratably (on a daily basis) over the succeeding twelve months thereafter, subject, in each case, to your continued employment with CBS through such dates (with such exceptions to the requirement for continued employment as are set forth in
the New Employment Agreement and Section 7 below). For the avoidance of doubt, the Merger RSU Award shall be the only equity-based award granted on or after the date of this letter agreement. 

 

	 	7.	 Termination Prior to the Closing Date. If your employment terminates prior to entering into the New
Employment Agreement for any reason (including, for the avoidance of doubt, upon expiration of the Term) other than termination of your employment by CBS for Cause as described in paragraph 7(a) of the Agreement or your voluntary resignation without
Good Reason prior to February 1, 2020, then, in addition to the amounts payable to you under the Agreement upon termination of your employment, you will receive (i) immediate vesting of your Merger RSU Award, and (ii) payment of the
Salary and Bonus that would have been payable under the New Employment Agreement during the Term (as such terms are defined in the New Employment Agreement) (the “Additional Severance”), which shall be paid in a lump sum
within 10 days of your termination date; provided, however, that to the extent that you are a “specified employee” (within the meaning of Code Section 409A and determined pursuant to procedures adopted by CBS) at the
time of 

 Joseph R. Ianniello 

As of August 13, 2019 
  Page
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your termination and any portion of your Merger RSU Award or Additional Severance that would otherwise be settled or paid during the six-month period
following your termination of employment constitutes “deferred compensation” within the meaning of Code Section 409A, such portion shall be settled or paid on the earlier of (x) the first business day of the seventh
calendar month following the calendar month in which your termination of employment occurs or (y) your death. Any amounts that are required to be deferred under the preceding sentence (and any amounts payable under the Agreement that are
that are not payable within 30 days of your termination of employment due to restrictions under Code Section 409A or Code Section 162(m)) shall be deposited in the Rabbi Trust within 10 days of your termination date. 

 

	 	8.	 No Mitigation or Offset. Notwithstanding anything to the contrary in your Agreement or this letter
agreement, you shall not be required to mitigate the amount of any payments provided following termination of your employment by seeking other employment or otherwise, nor shall any amount payable under the Agreement or this letter agreement
following termination of your employment be reduced by any compensation earned by you as a result of employment by another employer or self-employment. 

  

	 	9.	 Indemnification; Representation. For the avoidance of doubt, you will retain all of your existing rights
to indemnification under paragraph 18 of the Agreement. As of the date hereof, CBS represents and warrants to you that none of its Specified Executives or Directors has knowledge of any claims that could serve as a basis for a termination of your
employment for Cause under paragraph 7(a) of the Agreement. 

  

	 	10.	 Communications. CBS agrees that you shall be given a reasonable opportunity to review and approve the
content of any external announcement regarding the execution of this letter agreement (and any subsequent press release that is inconsistent with such announcement) prior to its release. 

 

	 	11.	 Legal Fees. This letter agreement also confirms our understanding that, notwithstanding any provision in
the Agreement, CBS shall promptly, upon submission of an appropriately detailed invoice, pay your legal fees reasonably incurred in connection with this letter agreement and related matters. 

 

	 	12.	 Release. References to the defined term “Employment Agreement” in Exhibit A (Form of General
Release) to the Agreement shall be deemed to refer to the Agreement as amended by the 2018 Letter Agreement, the 2019 Letter Agreement and this letter agreement. 

 

	 	13.	 Extension. The February 1, 2020 deadline referenced in Sections 1, 2, 3, 4 and 7 of this letter
agreement can be extended by CBS for successive 30 day periods, but in no event beyond the date of termination of the Merger Agreement in accordance with its terms as in effect on the date hereof, by providing written notice to you of each such
extension at least 30 days prior to the deadline then in effect and paying you an extension fee of One Million Dollars ($1.000,000) for each such extension, which amount shall be payable in a lump sum (less applicable withholding taxes) on or before
the date of the deadline then in effect. 

 Joseph R. Ianniello 

As of August 13, 2019 
  Page
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	 	14.	 Representations. CBS hereby represents and warrants to you that (i) this letter agreement has been
duly authorized and executed by CBS, (ii) the Agreement, as further modified by this letter agreement, is a legal, valid and binding obligation of CBS enforceable against CBS in accordance with its terms, and (iii) the CBS Board of
Directors, upon the recommendation from each of the Chair of the Compensation Committee of the CBS Board of Directors and the members of the Special Committee of the CBS Board of Directors, has unanimously adopted resolutions approving this letter
agreement and affirming that the Agreement, as further modified by this letter agreement, constitutes a legal, valid and binding obligation of CBS enforceable against CBS in accordance with its terms. 

 

	 	15.	 Entire Understanding; Supersedes Prior Agreements. This letter agreement, together with the Agreement
and any equity award agreements pursuant to which you hold outstanding CBS equity awards or rights to receive deferred equity compensation, contains the entire understanding of the parties hereto as of the time that this letter agreement is signed
by both parties relating to the subject matter contained herein, and can be changed only by a writing signed by both parties. Except as otherwise expressly provided herein, the Agreement and your equity award agreements pursuant to which you hold
outstanding CBS equity awards or rights to receive deferred equity compensation shall continue in full force and effect in accordance with their terms. 

  

	 	16.	 Counterparts. This letter agreement may be executed in one or more counterparts, including by facsimile,
and all of the counterparts shall constitute one fully executed agreement. The signature of any party to any counterpart shall be deemed a signature to, and may be appended to, any other counterpart. 

[signature page to follow] 

 If the foregoing correctly sets forth our understanding, please sign, date, and return this letter agreement
to the undersigned for execution on behalf of CBS. 
  

			
	Very truly yours,
	
	CBS CORPORATION
		
	By:	 	/s/ Stephen D. Mirante
	Name:	 	Stephen D. Mirante
	Title:	 	Executive Vice President,
		 	Chief Administrative Officer

  

			
	ACCEPTED AND AGREED:	 	
		
	 /s/ Joseph R. Ianniello
	 	
	Joseph R. Ianniello	 	
		
	Dated: 8/13/19                                  
              	 	

 EXHIBIT A 
  

 
 51 West 52nd Street 

New York, NY 10019 
 Joseph R. Ianniello 

c/o CBS Corporation 
 51 West 52nd Street 

New York, NY 10019 
  

			
	Dear Joe:	  	                                      
                                      as of [•],
20        

 CBS Corporation (the “Company”), having an address at 51 West 52nd Street, New York, New York 10019, agrees to employ you and you agree to accept such employment upon the following terms and conditions (this “Agreement”): 

1. Term. The term of your employment under this Agreement shall commence on
[•]1 (the “Effective Date”) and, unless earlier terminated under this Agreement, shall expire on [•]2 (the
“Expiration Date”). The period from the Effective Date through the Expiration Date is referred to herein as the “Term” notwithstanding any earlier termination of your employment for any reason. 

2. Duties. 
 (a) During
the Term, you will serve as the Chairman and Chief Executive Officer of CBS (“Chairman & CEO”). You shall have the authority, duties and responsibilities no less expansive than any
chairman and chief executive officer of any divisions of the Company or its subsidiaries and as otherwise set forth in this paragraph 2(a). All of the business units and divisions identified on Schedule A hereto (the “CBS
Businesses”)3 and department heads supporting the CBS Business identified on Schedule A shall report directly to you. The heads of HR/Diversity, Communications, Legal and Finance who
support the CBS Businesses shall report directly to you as well as to the appropriate corporate-wide heads of those subject areas (for example, the Communications head for the CBS Businesses shall report to you as well as to the Communications head
for the Company); provided that termination of the employment 
  

	1 	 NTD: Effective Date to be the same as the closing of Project March (so long as such date is prior to
February 1, 2020 or such later date determined in accordance with the letter agreement dated August 13, 2019 between the Company and Joseph R. Ianniello). 

	2 	 NTD: Expiration Date to be 15 months from the Effective Date. 

	3 	 NTD: For clarity, Simon & Schuster and Showtime do not constitute CBS Businesses.

 Joseph R. Ianniello 

as of [•] 
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of, or reduction of the compensation of, any such individual will require only your approval (subject to consultation with the other manager); it being acknowledged and agreed that the Company
may retain or rehire any such individual at corporate or within any other division. However, any division that manages material non-CBS related work shall report directly to you with respect to matters related
to the CBS Businesses and directly to the President and Chief Executive Officer of the Company or his designee with respect to the non-CBS Businesses; provided that only you will have the authority to
terminate the employment of, or reduce the compensation of, any such individual (subject to consultation with the other manager). You shall report directly to the President and Chief Executive Officer of the Company. The Board of Directors of the
Company (the “Board”), subject to Article XI of the Bylaws of the Company (the “Bylaws”), shall have (during the “Designated Period” as defined in the Bylaws) exclusive authority to remove
you from your position or modify your authority, duties or responsibilities, subject to your rights under this Agreement. You will work together with the President and Chief Executive Officer of the Company to keep him reasonably apprised regarding
material matters affecting the CBS Businesses and be reasonably available to respond to questions or inquiries he may have regarding the CBS Businesses. Subject to the foregoing and the Board-approved budget applicable to the CBS Businesses, as well
as any required approvals and policies of the Board and applicable policies of the Company as in effect from time to time (it being understood that those policies will apply to you on a basis no less favorable to you than as applied to the chairman
and chief executive officers of other business units and divisions of the Company or any of its subsidiaries), you will have final decision-making authority with respect to capital expenditures, contractual arrangements, the compensation of CBS
Businesses employees, contractors and other agents and the hiring and firing of CBS Businesses employees, contractors and other agents; provided that, notwithstanding such budget and any generally applicable policies on spending limitations, you
will have, following in the case of material contracts notice and consultation with the President and Chief Executive Officer of the Company, final decision-making authority with respect to any commercial contracts, programming commitments and other
contracts described on Schedule B. For each applicable fiscal year of the Company, you shall submit a proposed budget for the CBS Businesses to the President and Chief Executive Officer of the Company to be recommended to the Board for approval, if
approved by the President and Chief Executive Officer of the Company. 
 (b) During the period of your employment with the Company, you agree
to devote your entire business time, attention and energies to the CBS Businesses. Notwithstanding the foregoing, you will be permitted to engage in charitable, civic, or other non-business activities and to
serve as a member of the board of directors of not-for-profit organizations and one for-profit organization (in the case of the for-profit organization, subject to the Company’s applicable conflict of interest policies) so long as such activities do not materially interfere with the performance of your duties and responsibilities
hereunder. During the period of your employment with the Company, consistent with current and past practice, you shall render your services under this 

 Joseph R. Ianniello 

as of [•] 
  Page
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Agreement from your offices as of August 1, 2019 at Black Rock in New York and at Studio City in Los Angeles (or such other offices as may be mutually agreed by you and the Company);
provided, however, that you will be required to engage in reasonable business travel to other locations. 
 3. Base
Compensation. 
 (a) Salary. For all the services rendered by you in any capacity under this Agreement, the Company agrees to pay
you an annual base salary (“Salary”) at the rate of Three Million Dollars ($3,000,000), less applicable deductions and withholding taxes, in accordance with the Company’s payroll practices as they may exist from time to
time. During your employment with the Company, your Salary shall be reviewed annually by the Compensation Committee of the Board (the “Committee”) and may be increased, but not decreased. Any such increase shall be made at a
time, and in an amount, that the Committee shall determine in its discretion. 
 (b) Bonus Compensation. You also shall receive annual
bonus compensation (“Bonus”) during your employment with the Company under this Agreement, determined and payable as follows: 

(i) Your Bonus for each calendar year during your employment with the Company under this Agreement (including, in the case of
the [2019/2020]4 calendar year, the period of your service prior to the Effective Date of this Agreement) will be determined in accordance with the guidelines of the Company’s short-term
incentive program (the “STIP”), as such guidelines may be amended from time to time without notice in the discretion of the Company. 

(ii) Your target bonus (“Target Bonus”) for each calendar year (including the period of your service
prior to the Effective Date of this Agreement) shall be 500% of your Salary in effect on November 1st of the calendar year, or the last day of your employment, if earlier. For each calendar year
you shall receive a Bonus of not less than your Target Bonus; provided, however, that for the [2019/2020]5 calendar year, your Target Bonus shall be reduced by the amount of Bonus paid for the
[2019/2020]6 calendar year under your Prior Agreements so as to avoid duplication for such year; and for calendar year 2021, your Target Bonus shall be
pro-rated for the portion of the year during which you remain employed by the Company. The Bonus for a calendar year shall be payable, less applicable deductions and withholding taxes, between January 1st and March 15th of the following calendar year, except as otherwise provided in paragraph 7. 

 
  

	4 	 NTD: To be the year in which the Effective Date occurs. 

	5 	 NTD: To be the year in which the Effective Date occurs. 

	6 	 NTD: To be the year in which the Effective Date occurs. 

 Joseph R. Ianniello 

as of [•] 
  Page
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 (c) Form S-8. The Company shall maintain a
registration statement on Form S-8 for the class of shares of the Company that are deliverable to you upon exercise of stock options or settlement of RSUs previously awarded under the Company’s 2009
Long-Term Incentive Plan or that are deliverable in settlement of previously awarded rights to receive deferred equity compensation. 
 4.
Benefits. You shall be eligible to participate in all vacation, medical, dental, life insurance, long-term disability insurance, retirement, and long-term incentive plans and programs and other benefit plans and programs as the Company or any
of its subsidiaries (collectively, the “Company Group”) may have or establish from time to time and in which you would be eligible to participate under the terms of the plans, as may be amended from time to time, on terms no
less favorable than those applicable to the senior executives of the Company Group generally. This provision shall not be construed to either require the Company Group to establish any welfare, compensation or long-term incentive plans, or to
prevent the modification or termination of any plan once established, and no action or inaction with respect to any plan shall affect this Agreement. During your employment under this Agreement, the Company agrees that it will continue the existing
arrangements concerning (i) your usage of a car service consistent with current practices in effect on August 1, 2019 (i.e., use of a car and driver), (ii) your usage of aircraft controlled by the Company or its affiliates at levels
no less than those in effect on August 1, 2019 (e.g., first priority for usage of aircraft controlled by the Company or its affiliates for business-related travel, and limited usage of aircraft controlled by the Company or its affiliates
for personal travel), unless in use by or reserved for use by the Chair or President and Chief Executive Officer of the Company, in which case, you may charter, at the Company’s sole expense, an aircraft of similar size and quality as the
Company’s and its affiliates’ aircraft, (iii) your occupancy of your Company-provided apartment in Los Angeles as of August 1, 2019 (or an equivalent location with your approval), and (iv) your receipt of Company-paid
security service at the level in effect on August 1, 2019 or at such higher level as determined by the current head of CBS security to be appropriate. The Company additionally agrees that you shall be able to receive reimbursement for
reasonable expenses related to the relocation of your belongings from Los Angeles to the New York metropolitan area (whether during or following your employment with the Company); provided, however, that such relocation
reimbursement shall in no event exceed Seventy-Five Thousand Dollars ($75,000). 
 5. Business Expenses. During your employment under
this Agreement, the Company shall reimburse you for such reasonable travel and other expenses (including, without limitation, the expense of first class travel and expenses of a charter aircraft to the extent permitted by paragraph 4) incurred in
the performance of your duties. Such travel and other expenses shall be reimbursed by the Company as soon as practicable in accordance with the Company’s established guidelines, as may be amended from time to time, but in no event later than
December 31st of the calendar year following the calendar year in which you incur the related expenses. 

 Joseph R. Ianniello 

as of [•] 
  Page
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 6. Non-Competition, Confidential Information,
Etc. 
 (a) Non-Competition. You agree that your employment with the Company is on an
exclusive basis and that, while you are employed by the Company or any of its subsidiaries, other than as permitted by paragraph 2, you will not engage in any other business activity which is in conflict with your duties and obligations (including
your commitment of time) under this Agreement. You further agree that, during your employment with the Company, you shall not directly or indirectly engage in or participate in (or sign any agreement to engage in or participate in (it being
understood that during your employment with the Company you may engage in discussions with prospective employers and execute an agreement for employment with any third party so long as the term of your employment pursuant to such agreement shall
commence no earlier than the day following the date on which you cease to be employed by the Company), whether as an owner, partner, stockholder, officer, employee, director, agent of or consultant for, any business which at such time is competitive
with any business of the Company or any of its subsidiaries without the written consent of the Company; provided, however, that this provision shall not prevent you from investing as less than a one (1%) percent stockholder in the
securities of any company listed on a national securities exchange or quoted on an automated quotation system. For the avoidance of doubt, following the termination or cessation of your employment with the Company you shall not be subject to any non-competition covenant otherwise applicable to you, including the covenant set forth in this paragraph 6(a). 

(b) Confidential Information. You agree that, during the period of your employment with the Company and at any time thereafter,
(i) you shall not use for any purpose other than the duly authorized business of the Company, or disclose to any third party, any information relating to the Company, or any of the Company’s controlled affiliated companies which is non-public, confidential or proprietary to CBS or any of the Company’s controlled affiliated companies (“Confidential Information”), including any trade secret or any written (including
in any electronic form) or oral communication incorporating Confidential Information in any way (except as may be required by law or in the performance of your duties under this Agreement consistent with the Company’s policies or to enforce
your rights under this Agreement or in connection with any arbitration or litigation relating to your employment with the Company, provided that, in connection with your use of Confidential Information in any arbitration or litigation
proceeding, you use reasonable best efforts to avoid any unnecessary disclosure by you of the Confidential Information outside of such proceeding); and (ii) you will comply with any and all confidentiality obligations of the Company to a third
party, whether arising under a written agreement or otherwise. Information shall not be deemed Confidential Information which (x) is or becomes generally available to the public other than as a result of a prohibited disclosure by you or
at your direction or by any other person who directly or indirectly receives such information from you, (y) is or becomes available to you on a non-confidential basis from a source which is
entitled to disclose it to you, or (z) constitutes Residuals. For 

 Joseph R. Ianniello 

as of [•] 
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 purposes of this paragraph 6(b), the term “third party” shall be defined to mean any person other
than the Company Group or any of their respective directors and senior officers. For purposes of this paragraph 6(b), the term “Residuals” shall mean Confidential Information to which you had authorized access that is retained in
nontangible form (for example, without limitation, not digital, written or other documentary form, including without limitation tape, disk or other media) in your unaided memory, provided that the source of such Confidential Information has become
remote (for example, without limitation, as a result of the passage of time or your subsequent exposure to information of a similar nature from another source without any breach of any confidentiality obligation) such that you in good faith can no
longer specifically identify the source of such Confidential Information and that you in good faith believe is not Confidential Information. 

Notwithstanding the foregoing, your obligation to protect confidential and proprietary information shall not prohibit you from disclosing
matters that are protected under any applicable whistleblower laws, including reporting possible violations of laws or regulations, or responding to inquiries from, or testifying before, any governmental agency or self-regulating authority, all
without notice to or consent from the Company. Additionally, you hereby are notified that the immunity provisions in Section 1833 of title 18 of the United States Code provide that an individual cannot be held criminally or civilly liable under
any federal or state trade secret law for any disclosure of a trade secret that is made (i) in confidence to federal, state or local government officials, either directly or indirectly, or to an attorney, and is solely for the purpose of
reporting or investigating a suspected violation of the law, (ii) under seal in a complaint or other document filed in a lawsuit or other proceeding, or (iii) to your attorney in connection with a lawsuit for retaliation for reporting a
suspected violation of law (and the trade secret may be used in the court proceedings for such lawsuit) as long as any document containing the trade secret is filed under seal and the trade secret is not disclosed except pursuant to court order.

 (c) No Solicitation, Etc. 

(i) You agree that, while employed by the Company and for twelve (12) months thereafter, you shall not directly or indirectly employ or
solicit the employment of any person (other than your driver, the Manager, Administration or current personal assistant) who, on the date of termination of your employment, is an employee of the Company or any of its controlled affiliated companies;
and 
 (ii) You agree that, while employed by the Company, you shall not willfully and directly interfere with, disturb, or interrupt any of
the then-existing relationships (whether or not such relationships have been reduced to formal contracts) of the Company or any of its controlled affiliated companies with any customer, consultant or supplier resulting in material harm to the

 Joseph R. Ianniello 

as of [•] 
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Company. Notwithstanding any provision herein to the contrary, in the event your employment is terminated other than under circumstances described in paragraph 7(a)(v) of this Agreement, you will
be entitled to office support and security services as set forth in paragraph 7(f) of this Agreement. 
 (d) Company Ownership. The
results and proceeds of your services under this Agreement, including, without limitation, any works of authorship resulting from your services during your employment with the Company Group and any works in progress resulting from such services,
shall be works-made-for-hire and the Company shall be deemed the sole owner throughout the universe of any and all rights of every nature in such works, whether such
rights are now known or hereafter defined or discovered, with the right to use the works in perpetuity in any manner the Company determines, in its discretion, without any further payment to you. If, for any reason, any of such results and proceeds
are not legally deemed a work-made-for-hire and/or there are any rights in such results and proceeds which do not accrue to the Company under the preceding sentence,
then you hereby irrevocably assign and agree to assign any and all of your right, title and interest thereto, including, without limitation, any and all copyrights, patents, trade secrets, trademarks and/or other rights of every nature in the work,
whether now known or hereafter defined or discovered, and the Company shall have the right to use the work in perpetuity throughout the universe in any manner the Company determines, in its discretion, without any further payment to you. You shall,
as may be requested by the Company from time to time and at the Company’s expense, do any and all things which the Company may deem useful or desirable to establish or document the Company’s rights in any such results and proceeds,
including, without limitation, the execution of appropriate copyright, trademark and/or patent applications, assignments or similar documents and, if you are unavailable or unwilling to execute such documents, you hereby irrevocably designate the
General Counsel of the CBS Businesses or her designee as your attorney-in-fact with the power to execute such documents on your behalf. To the extent you have any rights
in the results and proceeds of your services under this Agreement that cannot be assigned as described above, you unconditionally and irrevocably waive the enforcement of such rights. This paragraph 6(d) is subject to, and does not limit, restrict,
or constitute a waiver by the Company of any ownership rights to which the Company may be entitled by operation of law by virtue of being your employer. 

(e) Litigation. 

(i) You agree that during the period of your employment with the Company and for twelve (12) months thereafter or, if
later, during the pendency of any litigation or other proceeding, (x) you shall not communicate with anyone (other than your own attorneys and tax advisors), except to the extent necessary in the performance of your duties under this
Agreement, with 

 Joseph R. Ianniello 

as of [•] 
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respect to the facts or subject matter of any pending or potential litigation, or regulatory or administrative proceeding involving the Company Group, other than any litigation or other
proceeding in which you are a party-in-opposition, without giving prior notice to the Company or its counsel (to the extent lawful); and (y) in the event
that any other party attempts to obtain information or documents from you with respect to such matters, either through formal legal process such as a subpoena or by informal means such as interviews, you shall promptly notify the CBS
Businesses’ General Counsel before providing any information or documents (to the extent lawful). 
 (ii) You agree to
cooperate with the Company and its attorneys, both during and after the termination of your employment, in connection with any litigation or other proceeding arising out of or relating to matters in which you were involved or had knowledge of prior
to the termination of your employment. Your cooperation shall include, without limitation, providing assistance to the Company’s counsel, experts or consultants, providing truthful testimony in pretrial and trial or hearing proceedings and any
travel related to your attendance at such proceedings (provided, however, that if you so request the Company shall, at its expense, make available to you the use of one of its or its affiliates’ aircraft for purposes of such
travel). In the event that your cooperation is requested after the termination of your employment, the Company will (x) seek to minimize interruptions to your schedule to the extent consistent with its interests in the matter; and
(y) reimburse you for all reasonable and appropriate out-of-pocket expenses actually incurred by you in connection with such cooperation upon reasonable
substantiation of such expenses. Any such reimbursement shall be made within 60 calendar days following the date on which the Company receives appropriate documentation with respect to such expenses, but in no event shall payment be made later than
December 31 of the calendar year following the calendar year in which you incur the related expenses. 
 (iii) You agree
that during the period of your employment with the Company and at any time thereafter, to the fullest extent permitted by law, you will not, other than to enforce your rights under this Agreement pursuant to and in accordance with paragraph 17 of
this Agreement, testify voluntarily in any lawsuit or other proceeding which directly or indirectly involves the Company Group, or which may create the impression that such testimony is endorsed or approved by the Company Group, without advance
notice (including the general nature of the testimony) to and, if such testimony is without subpoena or other compulsory legal process, the approval of the General Counsel of the Company. 

(f) Books, Articles, Etc. While you are employed by the Company or its affiliates, except in the course of the performance of your
duties and responsibilities or otherwise as authorized by the Board, you shall not prepare (other than personal notes 

 Joseph R. Ianniello 

as of [•] 
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and/or a diary) or assist any person or entity in the preparation of any books, articles, radio broadcasts, television or motion picture productions or other similar creations, concerning the
Company or any of its affiliates or predecessors or any of their officers, directors, agents, employees, suppliers or customers. 
 (g)
Return of Property. Except as set forth in and subject to your rights under paragraph 7(f) of this Agreement, all documents, data, recordings, or other property, whether tangible or intangible, including all information stored in electronic
form, obtained or prepared by or for you and utilized by you in the course of your employment with the Company shall remain the exclusive property of the Company. 

(h) Non-Disparagement. You and the Company agree that each party, during the period of your
employment with the Company and at any time thereafter, shall not, in any communications with the press or other media or any customer, client, supplier or member of the investment community, criticize, ridicule or make any statement which
disparages or is derogatory of the other party; provided, that the Company’s obligations shall be limited to communications by the directors (and their affiliates) and senior corporate executives having the rank of Senior Vice President
or above of the Company and the Company Group (“Specified Executives”), and it is agreed and understood that any such communication by any Specified Executive (or by any executive at the behest of a Specified Executive) shall
be deemed to be a breach of this paragraph 6(h) by the Company, as the case may be. Notwithstanding the foregoing, neither you nor the Company shall be prohibited from making truthful statements in connection with any arbitration proceeding
described in paragraph 17 hereof concerning a dispute relating to this Agreement. 
 (i) Injunctive Relief. The Company has entered
into this Agreement in order to obtain the benefit of your unique skills, talent, and experience. You acknowledge and agree that any violation by you of paragraphs 6(a) through (h) of this Agreement will result in irreparable damage to the
Company and, accordingly, the Company may obtain injunctive and other equitable relief for any breach or threatened breach of such paragraphs, in addition to any other remedies available to the Company. The Company acknowledges and agrees that any
violation by the Company or the Specified Executives of paragraph 6(h) would result in irreparable damage to you and, accordingly, you may obtain injunctive and other equitable relief for any breach or threatened breach of such paragraph, in
addition to any other remedies available to you. 
 (j) Survival; Modification of Terms. Your obligations under paragraphs 6(a)
through (i) shall remain in full force and effect for the entire period provided therein notwithstanding the termination of your employment under this Agreement for any reason. You and the Company agree that the restrictions and remedies
contained in paragraphs 6(a) through (h) are reasonable and that it is your intention and the intention of the Company that such restrictions and remedies shall be enforceable to the fullest extent permissible by law. If a court of competent
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shall find that any such restriction or remedy is unenforceable but would be enforceable if some part were deleted or the period or area of application reduced, then such restriction or remedy
shall apply with the modification necessary to make it enforceable. You acknowledge that the Company conducts its business operations around the world and has invested considerable time and effort to develop the international brand and goodwill
associated with the “CBS” name. To that end, you further acknowledge that the obligations set forth in this paragraph 6 are by necessity international in scope and necessary to protect the international operations and goodwill of the
Company and its controlled affiliated companies. 
 7. Termination of Employment. 

(a) Termination Events. Your employment pursuant to this Agreement may be terminated by either the Company or you as set forth in this
paragraph. 
 (i) Termination for Cause. The Company may, at its option, terminate your employment under this
Agreement for Cause at any time during the Term. 
 (ii) Termination without Cause. The Company may terminate your
employment under this Agreement without Cause at any time during the Term by providing written notice of termination to you, provided, however, that such termination shall only be effective if approved by the Required Vote. 

(iii) Resignation with Good Reason. You may resign your employment under this Agreement with Good Reason at any time
during the Term. 
 (iv) Resignation without Good Reason. You may resign your employment at any time for no reason.

 (v) Death. Your employment with the Company shall terminate automatically upon your death. 

(vi) Disability. If, while employed during the Term, you become Disabled, you will be considered to have experienced a
termination of employment on the Disability Termination Date. 
 (b) Payments. 

(i) Payment of Amounts Earned. Upon any termination of your employment pursuant to this Agreement, including termination
of your employment upon expiration of the Term of this Agreement, you shall thereafter receive, less applicable withholding taxes, (A) the Accrued Obligations, which 

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shall be payable immediately upon your termination, (B) the Pro-Rated Bonus, which shall be payable immediately upon your termination, (C) the
Medical Insurance Coverage, (D) the Retiree Plan Coverage, (E) the Life Insurance Coverage, and (F) the Outplacement Benefits. 

(ii) Payments Upon Termination without Cause and Resignation with Good Reason. Upon termination of your employment
pursuant to paragraph 7(a)(ii) or 7(a)(iii) of this Agreement, you shall, in addition to payment of the amounts set forth in paragraph 7(b)(i), thereafter receive, less applicable withholding taxes: 

(A) the Severance Amount, paid in a lump sum within thirty (30) days following your termination date (provided,
however, that to the extent that you are a “specified employee” (within the meaning of Code Section 409A and determined pursuant to procedures adopted by the Company) at the time of your termination and any portion of the
Severance Amount that would be paid to you during the six-month period following your termination of employment constitutes “deferred compensation” within the meaning of Code Section 409A, such
portion shall be paid to the Rabbi Trust rather than as described above; each payment pursuant to this paragraph 7(b)(ii) shall be regarded as a separate payment and not one of a series of payments for purposes of Code Section 409A); and 

(B) the Equity Benefits. 

Notwithstanding any provision in this Agreement to the contrary, prior to payment by the Company of any amount (other than Accrued Obligations)
or provision of any benefit pursuant to this paragraph 7(b)(ii), within sixty (60) days following your termination of employment, (x) you shall have executed and delivered to the Company a general release in the form attached hereto as
Exhibit A and (y) the Release Effective Date shall have occurred; provided, however, that if, at the time any cash severance payments are scheduled to be paid to you pursuant to paragraph 7(b)(ii)(A) or the Equity Benefits are scheduled to be
provided to you pursuant to paragraph 7(b)(ii)(B), you have not executed the attached general release that has become effective and irrevocable in its entirety (unless such general release has not become effective and irrevocable in its entirety due
to the other party thereto failing to execute such general release, in which case the requirements of this paragraph shall be waived as to you), then any such cash severance payments shall be held and accumulated without interest, and shall be paid
to you on the first regular payroll date of the Company following the Release Effective Date and the vesting of any stock options, RSUs and other equity awards shall be delayed until the Release Effective Date. Your

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failure or refusal to sign and deliver the attached release or your revocation of an executed and delivered release in accordance with applicable laws, whether intentionally or unintentionally,
will result in the forfeiture of the payments and benefits under paragraph 7(b)(ii)(A). Notwithstanding the foregoing, if the sixty (60) day period does not begin and end in the same calendar year, then the Release Effective Date shall occur no
earlier than January 1st of the calendar year following the calendar year in which your termination occurs. 
 Notwithstanding any provision
in this Agreement to the contrary, the payments (other than of Accrued Obligations) and benefits described in paragraphs 7(b)(ii)(A) and 7(b)(ii)(B) shall immediately cease in the event that you materially breach any provision of paragraph 6(c)
hereof; provided, however, that the Company gives you written notice setting forth the nature of any alleged breach in reasonable detail and, if the Company reasonably determines that such breach is capable of being cured, the conduct required to
cure and an opportunity of at least ten (10) business days from the giving of such notice within which to cure. 
 (iii)
Payments Upon Your Death. In the event of your death prior to the end of the Term while you are actively employed, your beneficiary or estate shall be entitled to receive, in addition to payment of the amounts set forth in paragraph
7(b)(i)(A), (B) and, to the extent applicable to eligible dependents, (C), the following: 
 (A) the Equity Benefits; and

 (B) the Target Bonus for the year in which your death occurs (rather than the
Pro-Rated Bonus), which shall be payable immediately upon termination. 
 In the event of your death
after the termination of your employment (which termination occurred during the Term) but prior to payment of any amounts or benefits that you would have received had you continued to live, all such amounts and benefits shall be paid, less
applicable deductions and withholding taxes, to your beneficiary (or, if no beneficiary has been designated, to your estate) in accordance with the applicable payment schedule set forth in the applicable subparagraph of this paragraph 7. 

(iv) Payments Upon Termination for Disability. Upon the occurrence of a Disability Termination Date, you shall, in
addition to payment of the amounts set forth in paragraph 7(b)(i), thereafter receive, less applicable withholding taxes, 

(A) the Equity Benefits, and 

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 (B) the Target Bonus for the year in which your Disability Termination Date
occurs (rather than the Pro-Rated Bonus), which shall be payable immediately upon termination. 
 (c)
No Mitigation. You shall not be required to mitigate the amount of any payment provided for in paragraph 7(b) by seeking other employment. The payments provided for in paragraph 7(b) are in lieu of any other severance or income continuation
or protection (other than any indemnification protection) under any Company plan, program or agreement that may now or hereafter exist (unless the terms of such plan, program or agreement expressly state that the payments and benefits payable
thereunder are intended to be in addition to the type of payments and benefits described in paragraph 7(b) of this Agreement). 
 (d)
Resignation from Official Positions. If your employment with the Company terminates for any reason, you shall automatically be deemed to have resigned at that time from any and all officer or director positions that you may have held with the
Company or any of its affiliated companies and all board seats or other positions in other entities you held on behalf of the Company, including any fiduciary positions (including as a trustee) you hold with respect to any employee benefit plans or
trusts established by the Company. You agree that this Agreement shall serve as written notice of resignation in this circumstance. If, however, for any reason this paragraph 7(d) is deemed insufficient to effectuate such resignation, you agree to
execute, upon the request of the Company or any of its affiliated companies, any documents or instruments which the Company may deem necessary or desirable to effectuate such resignation or resignations, and you hereby authorize the Secretary and
any Assistant Secretary of the Company or any of the Company’s affiliated companies to execute any such documents or instruments as your attorney-in-fact. 

(e) Termination of Benefits. Participation in all of the Company’s or the Company Group’s, as applicable, benefit plans and
programs (including, without limitation, vacation accrual, all retirement and related excess plans and LTD) will terminate upon the termination of your employment except to the extent otherwise expressly provided in such plans or programs or in this
Agreement, and subject to any vested rights you may have under the terms of such plans or programs. 
 (f) Office Support and Security
Services. Notwithstanding anything else contained in this Agreement, upon termination of your employment for any reason (other than on account of death), including termination of your employment upon expiration of the Term of this Agreement, you
shall be provided, for the period beginning on the date of termination of your employment and ending on the second anniversary of the date of termination of your employment (or, if earlier, the date on which you commence employment with another
employer), an office in midtown Manhattan at the same location in which your office was located on August 1, 2019 or other location in the metropolitan New York area selected by you comparable to your

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current office. Such office shall be equipped with furnishings, equipment and technology that is consistent with and substantially similar to what you currently have, including, without
limitation, a Bloomberg terminal and any required licenses for its use. In addition, you shall have the use of a car, driver and administrative assistant, which driver and administrative assistant shall, subject to their agreement, be your current
driver and the Manager, Administration who currently reports to you, each of whom will be employees of the Company Group and each of whom will be provided with the same level of compensation and benefits currently provided to each such position
during such two-year period. For the period following termination of your employment during which the Company is obligated to provide you with the use of an office, car, driver and administrative assistant,
you shall continue to receive Company-paid security service at the level that you are currently receiving or at such higher level as determined by the current head of CBS security to be appropriate. The cost to the Company of the office, office
equipment, car, driver, administrative assistant and security service to be provided to you under this paragraph 7(f) shall not exceed $2.75 million in the aggregate. You shall be permitted to retain all electronic devices possessed by you at
the time of termination of your employment without any payment to the Company, provided that you first allow Company IT to remove any Confidential Information on such devices, and your Company e-mail account
will remain active for up to three (3) months after termination of your employment (it being understood that such e-mail account access will terminate upon your acceptance of employment with a third
party, and that you agree to promptly notify the Company promptly following your acceptance of such third-party employment). 
 (h)
Definitions. For purposes of this paragraph 7 and this Agreement, the following terms shall have the meanings ascribed to them in this paragraph (7)(h): 

“Accrued Obligations”: (i) any unpaid Salary through and including the date of termination, any unpaid Bonus earned for the calendar
year prior to the calendar year in which you are terminated, and any business expense reimbursements incurred but not yet approved and/or paid, which amounts shall be payable within thirty (30) days following your termination date,
(ii) any accrued vested benefits under any employee benefit or pension plan of the Company or its affiliates (including any equity plan or award agreement thereunder) subject to the terms and conditions of such plan or pursuant to applicable
law, (iii) any rights in connection with your interests as a stockholder, (iv) any rights to indemnification pursuant to paragraph 18, and (v) such other amounts as are required to be paid or provided by law. 

“Cause”: 
 (i) your
engaging or participating in intentional acts of material fraud against the Company Group; 
 (ii) your willful misfeasance having a material
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 (iii) your conviction of a felony; 

(iv) your willful failure to obey a material lawful directive from the Board or the President and Chief Executive of the Company that is
appropriate to your position and does not interfere or conflict with the powers and authority granted to you hereunder; 
 (v) your willful
unauthorized disclosure of trade secret or other confidential material information of the Company; 
 (vi) your willful and material
violation of any formal written policy of the Company that is generally applicable to all employees or all officers of the Company and its subsidiaries including, but not limited to, policies concerning insider trading or sexual harassment,
Supplemental Code of Ethics for Senior Financial Officers, and the Company’s Business Conduct Statement; 
 (vii) your willful failure
to cooperate fully with an Investigation after being instructed by the Board by the Required Vote to cooperate or your willful destruction of or knowing and intentional failure to preserve documents or other material known by you to be relevant to
any Investigation; or 
 (viii) your willful and material breach of any of your material obligations under this Agreement; 

Notwithstanding the reporting lines set forth in paragraph 2(a) of this Agreement, no actions taken or failed to be taken by you within the
scope of your authority, as set forth in paragraph 2(a) of the Agreement or as a result of the reporting lines, shall constitute a basis for Cause, and no communications between you and the Board shall constitute a basis for Cause. 

For purposes of the foregoing definition, an act or omission shall be considered “willful” if done, or omitted to be done, by you
with knowledge and intent. 
 Anything herein to the contrary notwithstanding, your termination of employment by the Company will not be
deemed to be for Cause pursuant to clauses (i), (ii), (iv), (v), (vi), (vii) and (viii) above unless and until all of the Procedural Requirements have been satisfied. 

“Code Section 409A”: Internal Revenue Code Section 409A. 

“Disability” or being “Disabled”: your becoming “disabled” within the meaning of the STD. 

“Disability Termination Date”: the six (6) month anniversary of your Disability onset date. 

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 “Equity Benefits”: the following with respect to awards granted to you under any
Company incentive plan: 
 (i) All outstanding stock option awards (or portions thereof) that have not fully vested and become exercisable on
or before the date of such termination shall accelerate and vest immediately, and will continue to be exercisable until their expiration date. 

(ii) All outstanding stock option awards (or portions thereof) that have previously vested and become exercisable by the date of such
termination shall remain exercisable until their expiration date. 
 (iii) All outstanding RSUs and other equity awards (or portions thereof)
that have not vested on or before the termination date shall accelerate and vest immediately and be settled within ten (10) business days thereafter; provided, however, that to the extent any such unvested and outstanding equity
awards (or portions thereof) remain subject to performance-based vesting conditions on your termination date, such awards shall immediately vest (with an assumption that the performance goal(s) were achieved at target level, and be settled within
ten (10) business days thereafter, and provided, further, that to the extent that you are a “specified employee” (within the meaning of Code Section 409A and determined pursuant to procedures adopted by the Company)
at the time of your termination and any portion of your RSUs or other equity awards that would otherwise be settled during the six-month period following your termination of employment constitutes
“deferred compensation” within the meaning of Code Section 409A, such portion shall be settled on the Permissible Payment Date. 

“Good Reason”: the occurrence of any of the following without your consent (other than in connection with the termination or
suspension of your employment or duties for Cause or in connection with physical and mental incapacity): (A) a reduction in your position, titles, offices, reporting relationships, authorities, duties or responsibilities from those set forth in
paragraph 2 of this Agreement, including any such reduction effected through any arrangement involving the sharing of your position, titles, offices reporting relationships, authorities, duties or responsibilities, or any such reduction which would
remove positions, titles, offices reporting relationships, authorities, duties or responsibilities which are customarily given to the chief executive of a business of the size, type and nature of CBS operated by a public company comparable to the
Company and in no event less than the duties set forth in paragraph 2 of this Agreement (for the avoidance of doubt, a reduction shall include and be deemed to have occurred if either (x) you cease to be the most senior executive responsible
for the affairs of the CBS Businesses, (y) the Company is no longer a public company, or (z) there is any change in your reporting structure as set forth in paragraph 2 of this Agreement), (B) your determination in good faith, reasonably
exercised, that you have been or are being directed to take actions or to refrain from taking actions on matters relating to the CBS 

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Businesses that are within your authority as set forth in this Agreement (including Schedule B) unless such events are immaterial, inadvertent or isolated occurrences (for the avoidance of doubt,
without regard to the cause of such interference, any involvement of the Company in such interference or any attempt by the Company to remedy such interference); (C) a reduction in your base Salary or target compensation in effect immediately prior
to such reduction, including your annual Target Bonus; (D) the assignment to you of duties or responsibilities that are inconsistent with the usual and customary duties associated with a chairman and chief executive officer of a business
comparable to CBS or your duties as set forth in paragraph 2 of this Agreement or that impair your ability to function as the Chairman and Chief Executive Officer of the CBS Businesses; (E) the material breach by the Company of any of its
obligations under this Agreement (it being understood that a breach by the Company of its obligations under paragraph 3 of this Agreement shall constitute a material breach of an obligation under this Agreement); or (F) the Company requiring
you to be based anywhere other than the New York or Los Angeles metropolitan area, except for required travel on CBS business, or the Company requiring that you consistently spend more time in Los Angeles than your prior practice (which is
approximately 25% of your time). You will give written notice of termination to the Company, given no more than thirty (30) days (or, in the event of your resignation pursuant to clause (B) hereof, ten (10) days) after you know of the
occurrence of the event constituting Good Reason. Such notice shall state an effective resignation date that is not earlier than thirty (30) days (or, in the event of your resignation pursuant to clause (B) hereof, five (5) days) and
not later than sixty (60) days after the date it is given to the Company, provided that the Company may set an earlier effective date for your resignation at any time after receipt of your notice. The Company shall have thirty
(30) days (or, in the event of your resignation pursuant to clause (B) hereof, fourteen (14) days) from the receipt of your notice within which to cure, and, in the event of such cure, your notice shall be of no further force or
effect. If no cure is effected, your resignation will be effective as of the date specified in your written notice to the Company or such earlier effective date set by the Company following receipt of your notice. Notwithstanding anything else to
the contrary in this Agreement, if you should be entitled to resign your employment with Good Reason under circumstances described in clause (A), (C), (D) or (E) of the definition of Good Reason, the Company acknowledges and agrees that such
circumstances shall not be capable of cure by the Company, and that you may resign your employment for Good Reason effective as of a date that may be as early as immediately upon the provision of written notice to the Company. This definition shall
apply for purposes of this Agreement (and any other agreement that expressly incorporates the definition of Good Reason hereunder). 

“Investigation”: a bona fide Company internal investigation or an investigation of the Company by regulatory or law enforcement
authorities, whether or not related to your employment with the Company. 
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Company Group’s policy in effect on the date of termination in the amount then furnished to Company Group, as applicable, employees at no cost (the amount of which coverage will be reduced
by the amount of life insurance coverage furnished to you at no cost by a third party employer); provided, however, that to the extent the Company Group is unable to continue such benefits because of underwriting on the plan term, the
Company shall provide you with economically equivalent benefits determined on an after-tax basis (to the extent such benefit was non-taxable). 

“LTD”: the Company Group’s Long-Term Disability program. 

“Medical Insurance Coverage”: medical, dental insurance and accidental death and dismemberment coverage for you and your eligible
dependents (provided, however, that in the event of termination of this Agreement due to your death pursuant to paragraph 7(a)(v) or upon your death following termination of this Agreement for any other reason but prior to the
expiration of the thirty-six (36) month period contained in this definition of Medical Insurance Coverage, the Medical Insurance Coverage shall be provided to your eligible dependents), at no cost to you
(except as hereafter described) pursuant to the Company Group benefit plans in which you participated at the time of your termination of employment (or, if different, other benefit plans generally available to senior level executives) for a period
of thirty-six (36) months following the termination date, or if earlier, the date on which you become eligible for medical, dental or accidental death and dismemberment coverage as the case may be from a
third party, which period of coverage shall not be considered to run concurrently with the COBRA continuation period and the COBRA continuation period shall not be deemed to have commenced until after such
thirty-six (36) month period; provided, however, that during the period that the Company provides you with this coverage, the cost of such coverage will be treated as taxable income to you
and the Company may withhold taxes from your compensation for this purpose; provided, further, that you may elect to continue your medical and dental insurance coverage under COBRA at your own expense for the period required by law;
provided, further, that to the extent the Company Group is unable to continue such benefits because of underwriting on the plan term or if such continuation would violate Section 105(h) of the Internal Revenue Code, the Company
shall provide you with economically equivalent benefits determined on an after-tax basis (to the extent such benefit was non-taxable). 

“Outplacement Benefits”: the Company will make available to you, at its expense, executive level outplacement services with a leading
national outplacement firm, with such outplacement services to be provided for a period of up to twelve (12) months following the date on which your employment is terminated. The outplacement program shall be designed and the outplacement firm
selected by the Company. The Company will pay all expenses related to the provision of outplacement services directly to the outplacement firm by the end of the calendar year following the calendar year in which the outplacement services are
provided. 

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 “Permissible Payment Date”: the earlier of (x) the first business day of
the seventh calendar month following the calendar month in which your termination of employment occurs or (y) your death. 

“Procedural Requirements”: all of the following: (x) there shall have been delivered to you, at the direction of the Board
pursuant to a resolution duly adopted by the Required Vote, written notice of the Company’s intention to terminate you for Cause setting forth the nature of any alleged misfeasance in reasonable detail (including any corroborating evidence)
and, if such misfeasance is capable of being cured, the conduct required to cure, which notice shall be delivered as soon as practicable, but in no event later than forty-five (45) calendar days, after the occurrence of an event alleged to
constitute Cause is known by (i) the Chair or other member of the Board, (ii) the Executive Vice President, Chief Administrative Officer of the Company, (iii) the President and Chief Executive Officer of the Company, (iv) the
Chief Financial Officer of the Company or (v) the General Counsel of the Company; (y) except for a failure, conduct or breach which by its nature cannot be cured, you have been afforded thirty (30) calendar days from the receipt of
such notice within which to cure and, if so cured, after which period the Company cannot terminate your employment under this Agreement for the stated reason; and (z) there shall have been delivered to you a copy of a resolution duly adopted by
the Board by the Required Vote at a meeting of the Board called and held for such purpose (after reasonable notice is provided to you and you are given an opportunity, together with counsel, to be heard before the Board) finding that, in the good
faith opinion of the Board by the Required Vote, Cause exists and specifying the particulars thereof in reasonable detail. 
 “Pro-Rated Bonus”: the Target Bonus pro-rated based on the number of days employed during the calendar year divided by 365. 

“Rabbi Trust”: the “rabbi trust” established pursuant to the [Grantor Trust Agreement dated as of the Effective Date]. 

“Release Effective Date”: the date on which the general release in the form attached hereto as Exhibit A shall have become
effective and irrevocable in its entirety. 
 For purposes of this Agreement, “Required Vote” shall mean the “Requisite
Approval” as such term is defined in the Amended and Restated By-Laws of the Company attached as Exhibit C to the Merger Agreement (as such By-Laws may be amended
or modified from time to time in accordance with the terms of the Merger Agreement or the terms of such By-Laws). 

“Retiree Plan Benefits”: participation in any retiree medical plan of the Company or its successors as such plan may be in effect from
time to time upon attainment of the age required for such participation. 

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 “Severance Amount”: an amount equal to the sum of all remaining unpaid payments of
Salary and Bonus that would be owed to you pursuant to this Agreement had your employment continued without interruption until the Expiration Date, paid in a lump sum within thirty (30) days following your termination date. For the avoidance of
doubt, the Severance Amount shall not duplicate any amounts paid pursuant to paragraph 7(b)(i). 
 “STD”: the Company Group’s
Short-Term Disability program. 
 8. No Acceptance of Payments. You represent that you have not accepted or given nor will you accept
or give, directly or indirectly, any money, services or other valuable consideration from or to anyone other than the Company for the inclusion of any matter as part of any film, television program or other production produced, distributed and/or
developed by the Company, or any of the Company Group. 
 9. Equal Opportunity Employer; Employee Statement of Business Conduct. You
recognize that the Company is an equal opportunity employer. You agree that you will comply with Company policies regarding employment practices and with applicable federal, state and local laws prohibiting discrimination on the basis of race,
color, sex, religion, national origin, citizenship, age, marital status, sexual orientation, disability or veteran status. In addition, you agree that you will comply with the Company’s Business Conduct Statement. 

10. Notices. All notices under this Agreement must be given in writing, by personal delivery or by registered mail, at the parties’
respective addresses shown in this Agreement (or any other address designated in writing by either party), with a copy, in the case of the Company, to the attention of the General Counsel of the Company. Copies of all notices to you shall be given
to Hughes Hubbard & Reed LLP, One Battery Park Plaza, New York, NY 10004, Attention: Kenneth A. Lefkowitz. Any notice given by registered mail shall be deemed to have been given three days following such mailing. 

11. Assignment. This is an Agreement for the performance of personal services by you and may not be assigned by you or the Company
except that the Company may assign this Agreement to any majority-owned subsidiary of or any successor in interest to the Company, provided that such assignee expressly assumes all of the obligations of the Company hereunder and the Company shall
continue to remain liable for all of the assigned obligations hereunder. 
 12. New York Law, Etc. You acknowledge that this
Agreement has been executed, in whole or in part, in the State of New York and that your employment duties are primarily performed in New York. Accordingly, you agree that this Agreement and all matters or issues arising out of or relating to your
employment with the Company shall be governed by the laws of the State of New York applicable to contracts entered into and performed entirely therein without giving 

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effect to any choice or conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than the State of New York. 

13. No Implied Contract. Nothing contained in this Agreement shall be construed to impose any obligation on the Company or you to renew
this Agreement or any portion thereof. The parties intend to be bound only upon execution of a written agreement and no negotiation, exchange of draft or partial performance shall be deemed to imply an agreement. Neither the continuation of
employment nor any other conduct shall be deemed to imply a continuing agreement upon the expiration of the Term. 
 14. Void
Provisions. If any provision of this Agreement, as applied to either party or to any circumstances, shall be found by a court of competent jurisdiction to be unenforceable but would be enforceable if some part were deleted or the period or area
of application were reduced, then such provision shall apply with the modification necessary to make it enforceable, and shall in no way affect any other provision of this Agreement or the validity or enforceability of this Agreement. 

15. Entire Understanding; Supersedes Prior Agreements. This Agreement and the Merger RSU Award Agreement dated August 13, 2019 (the
“Merger RSU Agreement”) contain the entire understanding of the parties hereto as of the time on the Effective Date that the Agreement is signed by both parties relating to the subject matter contained in this Agreement and
the Merger RSU Agreement, and can be changed only by a writing signed by both parties. This Agreement supersedes and cancels all prior agreements (other than the Merger RSU Agreement) relating to your employment by the Company relating to the
subject matter herein, including, without limitation, your prior employment agreements with the Company dated as of June 4, 2013 and July 1, 2017, as amended by letter agreements dated September 9, 2018, April 23, 2019 and
August 13, 2019 (the “Prior Agreements”); provided, however, that no provision in this Agreement shall be construed to adversely affect any of your rights to compensation, expense reimbursement or benefits
(including equity compensation or rights to receive deferred equity compensation) payable in accordance with the terms of the Prior Agreements (and applicable equity award agreements) or any of your rights to indemnification with respect to your
service under the Prior Agreements, all of which are expressly agreed to survive the execution of this Agreement. 
 16. Payment of
Deferred Compensation – Code Section 409A. 
 (a) To the extent applicable, it is intended that the compensation
arrangements under this Agreement be in full compliance with Code Section 409A. This Agreement shall be construed in a manner to give effect to such intention. In no event whatsoever (including, but not limited to as a result of this paragraph
16 or otherwise) shall the Company or any of its affiliates be liable for any tax, interest or penalties that may be imposed on you under Code Section 409A. Except as expressly agreed in your letter agreement dated August 13, 2019, neither
the Company nor any of its affiliates have any obligation to indemnify or otherwise hold you harmless from any 

 Joseph R. Ianniello 

as of [•] 
  Page
 22
 
  

 
or all such taxes, interest or penalties, or liability for any damages related thereto. You acknowledge that you have been advised to obtain independent legal, tax or other counsel in connection
with Code Section 409A. 
 (b) Your right to any in-kind benefit or reimbursement benefits
pursuant to any provisions of this Agreement or pursuant to any plan or arrangement of the Company covered by this Agreement shall not be subject to liquidation or exchange for cash or another benefit. 

17. Arbitration. If any disagreement or dispute whatsoever shall arise between the parties, the parties hereto agree that such
disagreement or dispute shall be submitted to binding arbitration before the American Arbitration Association (the “AAA”), and that a neutral arbitrator will be selected in a manner consistent with its Employment Arbitration
Rules and Mediation Procedures (the “Rules”). Such arbitration shall be confidential and private and conducted in accordance with the Rules. Any such arbitration proceeding shall take place in New York City before a single
arbitrator (rather than a panel of arbitrators). The parties agree that the arbitrator shall have no authority to award any punitive or exemplary damages and waive, to the full extent permitted by law, any right to recover such damages in such
arbitration. Each party shall bear its respective costs (including attorney’s fees, and there shall be no award of attorney’s fees), provided that if you are the prevailing party (as determined by the arbitrator in his or her
discretion), you shall be entitled to recover all of your costs (including attorney’s fees) reasonably incurred in connection with such dispute. Following the arbitrator’s issuance of a final
non-appealable award setting forth that you are the prevailing party, the Company shall reimburse you for such costs within thirty (30) days following its receipt of reasonable written evidence
substantiating such costs, provided that in no event will payment be made to you later than the last day of the calendar year next following the calendar year in which the award is issued. If there is a dispute regarding the reasonableness of
the costs you incur, the same arbitrator shall determine, in his or her discretion, the costs that shall be reimbursed to you by the Company. Judgment upon the final award(s) rendered by such arbitrator, after giving effect to the AAA internal
appeals process, may be entered in any court having jurisdiction thereof. The Company, on its own behalf and on behalf of each of its affiliates, including, without limitation, all of their respective subsidiaries, officers, directors, and, to the
fullest extent permitted by applicable law, their respective stockholders, agrees not to bring any suits, claims or other legal proceeding of any nature against you in any venue other than binding arbitration before the AAA pursuant to the terms of
this paragraph. Notwithstanding anything herein to the contrary, you and/or the Company, as applicable, shall be entitled to seek injunctive, provisional and equitable relief in a court proceeding solely as a result of the Company’s or the
Specified Executives’ or your, as applicable, alleged violation of the terms of paragraph 6 of this Agreement, and you and the Company, on its own behalf and on behalf of the Specified Executives, hereby consent and agree to exclusive personal
jurisdiction in any state or federal court located in the City of New York, Borough of Manhattan. 

 Joseph R. Ianniello 

as of [•] 
  Page
 23
 
  

 18. Indemnification. 

(a) If you are made a party, are threatened to be made a party to, or otherwise receive any other legal process in, any action, suit or
proceeding, whether civil, criminal, administrative or investigative (a “Proceeding”), by reason of the fact that you are or were a director, officer or employee of the Company Group or any of their subsidiaries or affiliates
or are or were serving at the request of the Company Group or any of their subsidiaries or affiliates as a director, officer, member, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, including service
with respect to employee benefit plans, whether or not the basis of such Proceeding is your alleged action in an official capacity while serving as director, officer, member, employee or agent, the Company shall indemnify you and hold you harmless
to the fullest extent permitted or authorized by the Company’s certificate of incorporation and bylaws or, if greater, by the laws of the State of Delaware, against all cost, expense, liability and loss (including without limitation,
attorney’s fees, judgments, fines, ERISA excise taxes or penalties and amounts paid or to be paid in settlement and any cost and fees incurred in enforcing your rights to indemnification or contribution) actually and reasonably incurred or
suffered by you in connection therewith, and such indemnification shall continue even though you have ceased to be a director, member, employee or agent of the Company or other entity and shall inure to the benefit of your heirs, executors and
administrators. The Company shall advance to you all reasonable costs and expenses that you incur in connection with a Proceeding within thirty (30) days after its receipt of a written request for such advance. Such request shall include an
undertaking by you to repay the amount of such advance if it shall ultimately be determined that you are not entitled to be indemnified against such costs and expenses. 

(b) Neither the failure of the Company (including its board of directors, independent legal counsel or stockholders) to have made a
determination that indemnification of you is proper because you have met the applicable standard of conduct, nor a determination by the Company (including its board of directors, independent legal counsel or stockholders) that you have not met such
applicable standard of conduct, shall create a presumption or inference that you have not met the applicable standard of conduct. 
 (c) It
is understood and agreed that under no circumstances will you have any liability whatsoever with respect to the Showtime or Simon & Schuster divisions of the Company, regardless of the Company’s having any interest in such divisions,
and the Company shall indemnify you and hold you harmless against all cost, expense, liability and loss whatsoever associated with such divisions. 

(d) To the extent that the Company maintains officers’ and directors’ liability insurance, you will be covered under such policy
subject to the exclusions and limitations set forth therein. To the extent that the Company or any of its affiliates maintain “tail” officers’ and directors’ liability insurance pursuant to the terms of the

 Joseph R. Ianniello 

as of [•] 
  Page
 24
 
  

 
Agreement and Plan of Merger dated as of August 13, 2019, by and between CBS Corporation and Viacom Inc., you will be covered under such policy subject to the exclusions and limitations set
forth therein. 
 (e) The provisions of this paragraph 18 shall survive the expiration or termination of your employment and/or this
Agreement. 
 19. Legal Fees. The Company shall reimburse you for reasonable legal fees and expenses incurred by you in connection
with the negotiation and preparation of this Agreement. In addition, the Company shall reimburse you for all legal fees and expenses and other fees and expenses which you may incur in an effort to establish entitlement to compensation or other
benefits under this Agreement in accordance with paragraph 17. Any such reimbursement shall be made within 60 calendar days following the date on which the Company receives appropriate documentation with respect to such fees and expenses, but in no
event shall payment be made later than December 31 of the calendar year following the calendar year in which you incur the related fees and expenses. 

20. Released Claims. The Company hereby acknowledges and agrees that the claims released in the Settlement and the Company Corporation,
National Amusements, Inc., the directors of the Company, you and certain others, cannot serve as the basis for a termination of your employment for Cause under paragraph 7 of this Agreement. 

21. Representations of the Company. The Company hereby represents and warrants to you that (i) this Agreement has been duly
authorized and executed by the Company, (ii) this Agreement is a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, and (iii) the Board, upon the recommendation from each of the
Chair of the Committee and the members of the Special Committee of the Board, has unanimously adopted resolutions approving this Agreement. 

22. Counterparts. This Agreement may be executed in one or more counterparts, including by facsimile, and all of the counterparts shall
constitute one fully executed agreement. The signature of any party to any counterpart shall be deemed a signature to, and may be appended to, any other counterpart. 

[signature page to follow] 

 If the foregoing correctly sets forth our understanding, please sign, date and return all
four (4) copies of this Agreement to the undersigned for execution on behalf of the Company; after this Agreement has been executed by the Company and a fully-executed copy returned to you, it shall constitute a binding agreement between us.

  

			
	Very truly yours,
	
	CBS CORPORATION
		
	By:	 	                                
                            
	Name:	 	
	Title:	 	

  

	
	ACCEPTED AND AGREED:
	
	   

	Joseph R. Ianniello
	
	Dated:                                     
                                         
          

 EXHIBIT A 

Form of General Release 

GENERAL RELEASE 
 WHEREAS,
Joseph R. Ianniello (hereinafter referred to as the “Executive”) and CBS Corporation (hereinafter referred to as “Employer”) are parties to an Employment Agreement, dated as of [•] (the
“Employment Agreement”), which provided for Executive’s employment with Employer on the terms and conditions specified therein; and 

WHEREAS, pursuant to paragraph 7(b)(ii) of the Employment Agreement, Executive has agreed to execute a General Release of the type and nature
set forth herein as a condition to his entitlement to certain payments and benefits upon his termination of employment with Employer; and 

NOW, THEREFORE, in consideration of the premises and mutual promises herein contained and for other good and valuable consideration received
or to be received by Executive in accordance with the terms of the Employment Agreement, it is agreed as follows: 
 1. Excluding enforcement
of the covenants, promises and/or rights reserved herein (including but not limited to those contained in paragraph 4), (a) Executive hereby irrevocably and unconditionally waives, releases, settles (gives up), acquits and forever discharges
Employer and each of Employer’s owners, stockholders, predecessors, successors, assigns, directors, officers, employees, divisions, subsidiaries, affiliates (and directors, officers and employees of such companies, divisions, subsidiaries and
affiliates) and all persons acting by, through, under or in concert with any of them (collectively, the “Releasees”), or any of them, from any and all charges, complaints, claims, liabilities, obligations, promises,
agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and costs actually incurred) of any nature whatsoever, known or unknown, suspected or
unsuspected, including, but not limited to, any claims for salary, salary increases, alleged promotions, expanded job responsibilities, constructive discharge, misrepresentation, bonuses, equity awards of any kind, severance payments, unvested
retirement benefits, vacation entitlements, benefits, moving expenses, business expenses, attorneys’ fees, any claims which he may have under any contract or policy (whether such contract or policy is written or oral, express or implied),
rights arising out of alleged violations of any covenant of good faith and fair dealing (express or implied), any tort, any legal restrictions on Employer’s right to terminate employees, and any claims which he may have based upon any Federal,
state or other governmental statute, regulation or ordinance, including, without limitation, Title VII of the Civil Rights Act of 1964, as amended, the Federal Age Discrimination In Employment Act of 1967, as amended (“ADEA”), the Employee

  
 Exhibit A - 1 

 
Retirement Income Security Act of 1974, as amended (“ERISA”), the American with Disabilities Act, as amended (“ADA”), the Civil Rights Act of 1991, as amended, the
Rehabilitation Act of 1973, as amended, the Older Workers Benefit Protection Act, as amended (“OWBPA”), the Worker Adjustment Retraining and Notification Act, as amended (“WARN”), the Fair Labor Standards Act, as amended
(“FLSA”), the Occupational Safety and Health Act of 1970 (“OSHA”), the Family and Medical Leave Act of 1993, as amended (“FMLA”), the New York State Human Rights Law, as amended, the New York Labor Act, as amended, the
New York Equal Pay Law, as amended, the New York Civil Rights Law, as amended, the New York Rights of Persons With Disabilities Law, as amended, and the New York Equal Rights Law, as amended, the Sarbanes-Oxley Act of 2002, as amended
(“SOX”), and Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), that Executive now has, or has ever had, or ever shall have, against each or any of the Releasees, by reason of any and all
acts, omissions, events, circumstances or facts existing or occurring up through the date of Executive’s execution hereof that directly or indirectly arise out of, relate to, or are connected with, Executive’s services to, or employment by
Employer (any of the foregoing being a “Claim” or, collectively, the “Claims”); provided, that the foregoing shall not preclude you from exercising any legally protected whistleblower rights
(including under Rule 21F under the Exchange Act) or rights concerning the defense of trade secrets; and (b) Executive will not now, or in the future, accept any recovery (including monetary damages or any form of personal relief) in any forum,
nor will he pursue or institute any Claim against any of the Releasees. 
 2. Employer hereby irrevocably and unconditionally waives,
releases, settles (gives up), acquits and forever discharges the Executive and each of his respective heirs, executors, administrators, representatives, agents, successors and assigns (“Executive Parties”), or any of them,
from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and costs
actually incurred) of any nature whatsoever, known or unknown, suspected or unsuspected, that Employer and each of its affiliates now has, or has ever had, or ever shall have, against Executive Parties, by reason of any and all acts, omissions,
events, circumstances or facts existing or occurring through the date of Employer execution of this release that directly or indirectly arise out of, relate to, or are connected with, the Executive’s services to, or employment by Employer;
provided, however, that this General Release shall not apply to any of the continuing obligations of Executive under the Employment Agreement, or under any agreements, plans, contracts, documents or programs described or referenced in
the Employment Agreement; and provided, further, that this General Release shall not apply to any rights Employer may have to obtain contribution or indemnity against Executive pursuant to contract or otherwise. 

3. In addition, if applicable Executive expressly waives and relinquishes all rights and benefits afforded by California Civil Code
Section 1542 and does so understanding and acknowledging the significance of such specific waiver of Section 1542. Section 1542 states as follows: 

  
 Exhibit A - 2 

 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” 

Thus, notwithstanding the provisions of Section 1542, and for the purpose of implementing a full and complete release and discharge of the Releasees,
Executive expressly acknowledges that this Agreement is intended to include in its effect, without limitation, all Claims that Executive does not know or suspect to exist in Executive’s favor at the time of execution hereof, and that this
Agreement contemplates the extinguishment of any such Claim or Claims. 
 4. Notwithstanding the foregoing, neither the Employer nor the
Executive has waived and/or relinquished any rights he may have to file any Claim that cannot be waived and/or relinquished pursuant to applicable laws, including, in the case of Executive, the right to file a charge or participate in any
investigation with the Equal Employment Opportunity Commission or any other governmental or administrative agency that is responsible for enforcing a law on behalf of the government. Executive also acknowledges and understands that because Executive
is waiving and releasing all claims for monetary damages and any other form of personal relief per paragraph 1, Executive may only seek and receive non-personal forms of relief through any such claim.
Moreover, this General Release shall not apply to (a) any of the continuing obligations of Employer or any other Releasee under the Employment Agreement, or under any agreements, plans, contracts, documents or programs described or referenced
in the Employment Agreement or any other written agreement entered into between Executive and Employer, (b) any rights Executive may have to obtain contribution or indemnity against Employer or any other Releasee pursuant to contract,
Employer’s certificate of incorporation and by-laws, Agreement and Plan of Merger dated as of August 13, 2019, by and between CBS Corporation and Viacom Inc., or otherwise, (c) any rights
Executive may have to enforce the terms of this General Release or the Employment Agreement, (d) any claims for accrued, vested benefits under any employee benefit or pension plan of Employer or its affiliates subject to the terms and
conditions of such plan or pursuant to applicable law, and (e) any rights of Executive in connection with his interest as a stockholder or optionholder of Employer whether under agreements between Executive and Employer or any of its affiliates
or otherwise. 
 5. Executive understands that he has been given a period of twenty-one
(21) days to review and consider this General Release before signing it pursuant to the ADEA. Executive further understands that he may use as much of this 21–day period as Executive wishes prior to signing. 

6. Executive acknowledges and represents that he understands that he may 

  
 Exhibit A - 3 

 
revoke the General Release set forth in paragraph 1, including, the waiver of his rights under the Age Discrimination in Employment Act of 1967, as amended, effectuated in this General Release,
within seven (7) days of signing this General Release. Revocation can be made by delivering a written notice of revocation to Executive Vice President,—General Counsel, CBS Corporation, 51 West 52nd Street, New York, New York 10019. For this revocation to be effective, written notice must be received by the General Counsel no later than the close of business on the seventh day after Executive
signs this General Release. If Executive revokes the General Release set forth in paragraphs 1 and 3, Employer shall have no obligations to Executive under paragraph 7(b)(ii) of the Employment Agreement, except to the extent specifically provided
for therein. 
 7. Executive and Employer respectively represent and acknowledge that in executing this General Release neither of them is
relying upon, and has not relied upon, any representation or statement not set forth herein made by any of the agents, representatives or attorneys of the Releasees with regard to the subject matter, basis or effect of this General Release or
otherwise. 
 8. This General Release shall not in any way be construed as an admission by any of the Releasees that any Releasee has acted
wrongfully or that Executive has any rights whatsoever against any of the Releasees except as specifically set forth herein, and each of the Releasees specifically disclaims any liability to any party for any wrongful acts. 

9. It is the desire and intent of the parties hereto that the provisions of this General Release be enforced to the fullest extent permissible
under law. Should there be any conflict between any provision hereof and any present or future law, such law shall prevail, but the provisions affected thereby shall be curtailed and limited only to the extent necessary to bring them within the
requirements of law, and the remaining provisions of this General Release shall remain in full force and effect and be fully valid and enforceable. 

10. Executive represents and agrees (a) that Executive has, to the extent he desires, discussed all aspects of this General Release with
his attorney, (b) that Executive has carefully read and fully understands all of the provisions of this General Release, and (c) that Executive is voluntarily executing this General Release. 

11. This General Release shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to
the conflicts of laws principles thereof or to those of any other jurisdiction which, in either case, could cause the application of the laws of any jurisdiction other than the State of New York. This General Release is binding on the successors and
assigns of the parties hereto; fully supersedes any and all prior agreements or understandings between the parties hereto pertaining to the subject matter hereof; and may not be changed except by explicit written agreement to that effect subscribed
by the parties hereto. 

  
 Exhibit A - 4 

 PLEASE READ CAREFULLY. THIS GENERAL RELEASE INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 

This General Release is executed by the Executive and Employer as of the
                 day of                     ,
20        . 
  

			
	
	  

	Joseph R. Ianniello
	
	CBS CORPORATION

 
			
		
	By:	 	      

	Name:
	Title:

  
 Exhibit A - 5EX-10.7

 Exhibit 10.7 
  

 
 51 West 52nd Street 

New York, NY 10019 
 Ms. Christina Spade 

c/o CBS Corporation 
 51 West 52nd Street 

New York, NY 10019 
  

			
	Dear Chris:	  	as of August 13, 2019

 CBS Corporation (“CBS” or “the Company”), having an address at
51 West 52nd Street, New York, New York 10019, agrees to continue to employ you and you agree to accept such continued employment upon the following terms and conditions (this
“Agreement”): 
 1. Term; Effectiveness of this Agreement. The term of your employment under this Agreement
shall commence on the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated as of August 13, 2019 by and between CBS and Viacom Inc. (the “Merger Agreement”), and, unless earlier
terminated under this Agreement, shall expire on the date that is twenty-four (24) months from the consummation (the “Closing”) of the transactions contemplated by the Merger Agreement (the “Expiration
Date”). The period from the date of the Closing (the “Effective Date”) through the Expiration Date is referred to herein as the “Term” notwithstanding any earlier termination of your
employment for any reason. The provisions of this Agreement shall become effective on the Effective Date except for those provisions of this Agreement that explicitly state they become effective upon execution of this Agreement by you and the
Company, which provisions will be in full force and effect as of August 13, 2019. 
 2. Duties. You will serve as the Executive
Vice President, Chief Financial Officer of CBS. In your capacity as Executive Vice President, Chief Financial Officer, you shall have the authority, duties and responsibilities customary for the chief financial officer of a public company of the
type and nature of the Company, and shall perform such additional duties reasonable and consistent with that office and the other provisions of this paragraph as the President and Chief Executive Officer of the Company (hereinafter referred to as
the “CEO”) may assign to you from time to time. Without limiting the foregoing, you shall be responsible for all financial matters of the Company which shall include, but not be limited to, accounting and financial reporting,
divisional CFO reporting relationships, financial planning and analysis, investor relations, real estate, tax and treasury. You shall report solely and directly to the CEO. Your principal place of employment will be the Company’s executive
offices in the New York metropolitan area; provided, however, that you will be required to render services in the Los Angeles metropolitan area and elsewhere upon request for business reasons. Except as set forth in the next sentence,
you agree to devote your entire business time, attention and energies to the business of the Company. 

 Christina Spade 

as of August 13, 2019 
  Page
 2
 
  

 Notwithstanding anything to the contrary contained herein, you will be permitted to engage in charitable,
civic, or other non-business activities and to serve as a member of the board of directors of not-for-profit organizations and
one for-profit organization (in the case of the for-profit organization, which is mutually agreeable to you and the CEO, subject to the Company’s applicable
conflict of interest policies) so long as such activities do not materially interfere with the performance of your duties and responsibilities hereunder. 

3. Base Compensation. 
 (a)
Salary. For all the services rendered by you in any capacity under this Agreement, the Company agrees to pay you an annual base salary (“Salary”) at the rate of One Million Four Hundred Thousand Dollars ($1,400,000),
less applicable deductions and withholding taxes, in accordance with the Company’s payroll practices as they may exist from time to time. Your Salary shall be reviewed annually by the Compensation Committee (the
“Committee”) of the Board of Directors of the Company (the “Board”), and may be increased, but not decreased. Any such increase shall be made at a time, and in an amount, that the
Committee shall determine in its discretion. 
 (b) Bonus Compensation. You also shall receive annual bonus compensation
(“Bonus”) during your employment with the Company under this Agreement, determined and payable as follows: 

(i) Your Bonus for each calendar year during your employment with the Company under this Agreement (including, in the case of
the 2019 calendar year, the period of your service with the Company or any of its affiliates prior to the Effective Date of this Agreement) will be determined in accordance with the guidelines of the Company’s short-term incentive program or
any successor thereto (the “STIP”), as such guidelines may be amended from time to time without notice in the discretion of the Company. 

(ii) Your target bonus (“Target Bonus”) for each calendar year (including the period of your service
with the Company or any of its affiliates prior to the Effective Date of this Agreement) shall be 200% of your Salary in effect on November 1st of the calendar year, or the last day of your
employment, if earlier. 
 (iii) The Bonus for a calendar year shall be payable, less applicable deductions and withholding
taxes, between January 1st and March 15th of the following calendar year, except as otherwise provided in the CBS Retention Plan Letter (as
defined below). 
 (iv) Except as otherwise set forth herein, you must be employed on the last day of a calendar year to
receive a Bonus for such calendar year. However, if your employment with the Company terminates prior to the last day of a calendar year, the Company may, in its discretion, choose to pay you a prorated Bonus, in which case such prorated Bonus will
be determined in accordance with the guidelines of the STIP and payable in accordance with paragraph 3(b)(iii). 

 Christina Spade 

as of August 13, 2019 
  Page
 3
 
  

 (c) Long-Term Incentive Compensation. 

(i) Beginning with the Company’s annual grant for fiscal year 2020 (it being understood and agreed that you have already
received an annual LTIP grant for fiscal year 2019) and thereafter during your employment with the Company or any of its affiliates, you shall be eligible to receive annual grants of long-term incentive compensation under the CBS Corporation 2009
Long-Term Incentive Plan (or any successor plan thereto) (the “LTIP”), as may be amended from time to time without notice in the discretion of the Company. You shall have a target long-term incentive value equal to Three
Million Four Hundred Thousand Dollars ($3,400,000). The precise amount, form (including equity and equity-based awards, which for purposes of this Agreement are collectively referred to as “equity awards”) and timing
of any such long-term incentive award, if any, shall be determined in the discretion of the Committee. 
 (ii) The Company
(or any successor thereto) shall maintain a registration statement on Form S-8 for the class of shares that may be delivered to you under the LTIP upon exercise of stock options or the settlement of restricted
share units (RSUs). 
 4. Benefits. You shall be eligible to participate in all vacation, medical, dental, life insurance, long-term
disability insurance, retirement, and long-term incentive plans and programs and other benefit plans and programs applicable generally to the other senior executives of the Company and its subsidiaries as the Company may have or establish from time
to time and in which you would be eligible to participate under the terms of the plans, as may be amended from time to time. This provision shall not be construed to either require the Company to establish any welfare, compensation or long-term
incentive plans, or to prevent the modification or termination of any plan once established, and no action or inaction with respect to any plan shall affect this Agreement. 

5. Business Expenses. During your employment under this Agreement, the Company shall reimburse you for such reasonable travel and other
expenses incurred in the performance of your duties as are customarily reimbursed to Company executives at comparable levels to other similarly situated senior executives (but in no event at a level lower than that which was available to you on
August 1, 2019). Such travel and other expenses shall be reimbursed by the Company as soon as practicable in accordance with the Company’s established guidelines, as may be amended from time to time, but in no event later than December 31st of the calendar year following the calendar year in which you incur the related expenses. 

6. Non-Competition, Confidential Information, Etc. 

(a) Non-Competition. You agree that your employment with the Company is on an exclusive basis
and that, while you are employed by the Company or any of its subsidiaries, other than as permitted by paragraph 2, you will not engage in any other business activity which is in conflict with your duties and obligations (including your commitment
of time) under this Agreement. You further agree that, during your employment with the Company, you shall not directly or indirectly engage in or participate in (or sign any agreement to engage in or participate in), whether as an owner, partner,
stockholder, officer, employee, director, agent of or consultant 

 Christina Spade 

as of August 13, 2019 
  Page
 4
 
  

 
for, any business which at such time is competitive with any business of the Company, or any of its subsidiaries, without the written consent of the Company; provided, however, that
this provision shall not prevent you from investing as less than a one (1%) percent stockholder in the securities of any company listed on a national securities exchange or quoted on an automated quotation system. The provisions of this paragraph
6(a) shall continue to be in force for twelve (12) months following the termination of your employment with the Company if, and only if, you are terminated for Cause pursuant to paragraph 7(a) or you resign your employment without Good Reason
pursuant to paragraph 7(c) hereof, and, following the termination or cessation of your employment with the Company for any other reason, you shall not be subject to any non-competition or similar restrictive
covenant otherwise applicable to you, including the covenant set forth in this paragraph 6(a). 
 (b) Confidential Information. You
agree that, during the period of your employment with the Company and at any time thereafter, (i) you shall not use for any purpose other than the duly authorized business of the Company, or disclose to any third party, any information relating
to the Company, or any of the Company’s affiliated companies which is non-public, confidential or proprietary to the Company or any of the Company’s affiliated companies (“Confidential
Information”), including any trade secret or any written (including in any electronic form) or oral communication incorporating Confidential Information in any way (except as may be required by law or in the performance of your duties
under this Agreement consistent with the Company’s policies or to enforce your rights under this Agreement or in connection with any arbitration or litigation relating to your employment with the Company or any of its affiliates,
provided that, in connection with your use of Confidential Information in any arbitration or litigation proceeding, you use reasonable best efforts to avoid any unnecessary disclosure by you of the Confidential Information outside of such
proceeding); and (ii) you will comply with any and all confidentiality obligations of the Company to a third party, whether arising under a written agreement or otherwise. Information shall not be deemed Confidential Information which
(x) is or becomes generally available to the public other than as a result of a prohibited disclosure by you or at your direction or by any other person who directly or indirectly receives such information from you, (y) is or becomes
available to you on a non-confidential basis from a source which is entitled to disclose it to you, or (z) constitutes Residuals. For purposes of this paragraph 6(b), the term “third
party” shall be defined to mean any person other than the Company, and its affiliated companies or any of their respective directors and senior officers. For purposes of this paragraph 6(b), the term “Residuals”
shall mean Confidential Information to which you had authorized access that is retained in nontangible form (for example, without limitation, not digital, written or other documentary form, including without limitation tape, disk or other media) in
your unaided memory, provided that the source of such Confidential Information has become remote (for example, without limitation, as a result of the passage of time or your subsequent exposure to information of a similar nature from another source
without any breach of any confidentiality obligation) such that you in good faith can no longer specifically identify the source of such Confidential Information and that you in good faith believe is not Confidential Information. 

Notwithstanding the foregoing, your obligation to protect confidential and proprietary information shall not prohibit you from disclosing
matters that are protected under any applicable whistleblower laws, including reporting possible violations of laws or regulations, or 

 Christina Spade 

as of August 13, 2019 
  Page
 5
 
  

 
responding to inquiries from, or testifying before, any governmental agency or self-regulating authority, all without notice to or consent from the Company. Additionally, you hereby are notified
that the immunity provisions in Section 1833 of title 18 of the United States Code provide that an individual cannot be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is
made (i) in confidence to federal, state or local government officials, either directly or indirectly, or to an attorney, and is solely for the purpose of reporting or investigating a suspected violation of the law, (ii) under seal in a
complaint or other document filed in a lawsuit or other proceeding, or (iii) to your attorney in connection with a lawsuit for retaliation for reporting a suspected violation of law (and the trade secret may be used in the court proceedings for
such lawsuit) as long as any document containing the trade secret is filed under seal and the trade secret is not disclosed except pursuant to court order. 

(c) No Solicitation, Etc. 

(i) You agree that, while employed by the Company and for twelve (12) months thereafter, you shall not directly or
indirectly employ or solicit the employment of any person who, on the date of termination of your employment, is an employee of the Company or any of the Company’s controlled affiliated companies; and 

(ii) You agree that, while employed by the Company, you shall not willfully and directly interfere with, disturb, or interrupt
any of the then-existing relationships (whether or not such relationships have been reduced to formal contracts) of the Company or any of the Company’s controlled affiliated companies with any customer, consultant or supplier resulting in
material harm to the Company. 
 (d) Company Ownership. The results and proceeds of your services under this Agreement, including,
without limitation, any works of authorship resulting from your services during your employment with the Company and/or any of the Company’s affiliated companies and any works in progress resulting from such services, shall be works-made-for-hire and the Company shall be deemed the sole owner throughout the universe of any and all rights of every nature in such works, whether such rights are now
known or hereafter defined or discovered, with the right to use the works in perpetuity in any manner the Company determines, in its discretion, without any further payment to you. If, for any reason, any of such results and proceeds are not legally
deemed a work-made-for-hire and/or there are any rights in such results and proceeds which do not accrue to the Company under the preceding sentence, then you hereby
irrevocably assign and agree to assign any and all of your right, title and interest thereto, including, without limitation, any and all copyrights, patents, trade secrets, trademarks and/or other rights of every nature in the work, whether now
known or hereafter defined or discovered, and the Company shall have the right to use the work in perpetuity throughout the universe in any manner the Company determines, in its discretion, without any further payment to you. You shall, as may be
requested by the Company from time to time and at the Company’s expense, do any and all things which the Company may deem useful or desirable to establish or document the Company’s rights in any such results and proceeds, including,
without limitation, the execution of appropriate copyright, trademark and/or patent applications, assignments or similar documents and, if you are unavailable or unwilling to execute such documents, you hereby irrevocably designate the General
Counsel of the Company or her designee as your attorney-in-fact with the power to execute such documents on your behalf. To

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the extent you have any rights in the results and proceeds of your services under this Agreement that cannot be assigned as described above, you unconditionally and irrevocably waive the
enforcement of such rights. This paragraph 6(d) is subject to, and does not limit, restrict, or constitute a waiver by the Company of any ownership rights to which the Company may be entitled by operation of law by virtue of being your employer.

 (e) Litigation. 

(i) You agree that during the period of your employment with the Company and for twelve (12) months thereafter or, if
later, during the pendency of any litigation or other proceeding, (x) you shall not communicate with anyone (other than your own attorneys and tax advisors), except to the extent necessary in the performance of your duties under this Agreement,
with respect to the facts or subject matter of any pending or potential litigation, or regulatory or administrative proceeding involving the Company, or any of the Company’s controlled affiliated companies, other than any litigation or other
proceeding in which you are a party-in-opposition, without giving prior notice to the Company or its counsel (to the extent lawful); and (y) in the event that any
other party attempts to obtain information or documents from you with respect to such matters, either through formal legal process such as a subpoena or by informal means such as interviews, you shall promptly notify the Company’s General
Counsel before providing any information or documents (to the extent lawful). 
 (ii) You agree to cooperate with the Company
and its attorneys, both during and after the termination of your employment, in connection with any litigation or other proceeding arising out of or relating to matters in which you were involved or had knowledge of prior to the termination of your
employment. Your cooperation shall include, without limitation, providing assistance to the Company’s counsel, experts or consultants, providing truthful testimony in pretrial and trial or hearing proceedings and any travel related to your
attendance at such proceedings. In the event that your cooperation is requested after the termination of your employment, the Company will (x) seek to minimize interruptions to your schedule to the extent consistent with its interests in the
matter; and (y) reimburse you for all reasonable and appropriate out-of-pocket expenses actually incurred by you in connection with such cooperation upon reasonable
substantiation of such expenses. Any such reimbursement shall be made within 60 calendar days following the date on which the Company receives appropriate documentation with respect to such expenses, but in no event shall payment be made later than
December 31 of the calendar year following the calendar year in which you incur the related expenses. 
 (iii) You agree
that during the period of your employment with the Company and at any time thereafter, to the fullest extent permitted by law, you will not, other than to enforce your rights under this Agreement pursuant to and in accordance with paragraph 17 of
this Agreement, testify voluntarily in any lawsuit or other proceeding which directly or indirectly involves the Company, or any of the Company’s controlled affiliated companies, or which may create the impression that such testimony is
endorsed or approved by the Company, or any of the Company’s controlled affiliated companies, without advance notice (including the general nature of the testimony) to and, if such 

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testimony is without subpoena or other compulsory legal process, the approval of the General Counsel of the Company. 

(f) No Right to Give Interviews or Write Books, Articles, Etc. During the Term, except as authorized by the Company (which authorization
shall include, without limitation, the written or verbal approval of the CEO) or in carrying out your duties and responsibilities under this Agreement (which include, without limitation, approved participation in industry conferences, investor
conferences, media events, road shows and similar events), you shall not (i) give any interviews or speeches, or (ii) prepare (other than personal notes and/or a diary) or knowingly assist in any meaningful respect any person or entity in
the preparation of any books, articles, television or motion picture productions or other creations, in either case, concerning the Company, or any of the Company’s controlled affiliated companies or any of their respective officers, directors,
agents, employees, suppliers or customers. 
 (g) Return of Property. All documents, data, recordings, or other property, whether
tangible or intangible, including all information stored in electronic form, obtained or prepared by or for you and utilized by you in the course of your employment with the Company shall remain the exclusive property of the Company. 

(h) Non-Disparagement. You and the Company agree that each party, during the period of your
employment with the Company and at any time thereafter, shall not, in any communications with the press or other media or any customer, client, supplier or member of the investment community, criticize, ridicule or make any statement which
disparages or is derogatory of the other party; provided, that the Company’s obligations shall be limited to communications by the directors (and their affiliates) and senior corporate executives having the rank of Senior Vice President
or above of the Company or any of its affiliates (“Specified Executives”), and it is agreed and understood that any such communication by any Specified Executive (or by any executive at the behest of a Specified Executive)
shall be deemed to be a breach of this paragraph 6(h) by the Company. Notwithstanding the foregoing, neither you nor the Company shall be prohibited from making truthful statements in connection with any arbitration proceeding described in paragraph
17 hereof concerning a dispute relating to this Agreement. 
 (i) Injunctive Relief. The Company has entered into this Agreement in
order to obtain the benefit of your unique skills, talent, and experience. You acknowledge and agree that any violation of paragraphs 6(a) through (h) of this Agreement by you will result in irreparable damage to the Company and, accordingly,
the Company may obtain injunctive and other equitable relief for any breach or threatened breach of such paragraphs, in addition to any other remedies available to the Company. The Company acknowledges and agrees that any violation of paragraph 6(h)
by the Company or the Specified Executives will result in irreparable damage to you and, accordingly, you may obtain injunctive and other equitable relief for any breach or threatened breach of such paragraph, in addition to any other remedies
available to you. 
 (j) Survival; Modification of Terms. Your obligations and the obligations of the Company, its affiliated
companies and the Specified Executives under paragraphs 6(a) through (i) shall remain in full force and effect for the entire period provided therein. You and the Company and its affiliated companies agree that the restrictions and remedies
contained in paragraphs 6(a) 

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through (h) are reasonable and that it is your intention and the intention of the Company that such restrictions and remedies shall be enforceable against the applicable persons to the
fullest extent permissible by law. If a court of competent jurisdiction shall find that any such restriction or remedy is unenforceable but would be enforceable if some part were deleted or the period or area of application reduced, then such
restriction or remedy shall apply with the modification necessary to make it enforceable. You acknowledge that the Company conducts its business operations around the world and has invested considerable time and effort to develop the international
brand and goodwill associated with the “CBS” name. To that end, you further acknowledge that the obligations set forth in this paragraph 6 are by necessity international in scope and necessary to protect the international operations and
goodwill of the Company and its controlled affiliated companies. 
 7. Termination of Employment. 

(a) Termination for Cause. 

(i) The Company may, at its option, terminate your employment under this Agreement for Cause at any time during the Term. For
purposes of this Agreement, “Cause” shall mean your: (A) engaging or participating in intentional acts of material embezzlement or fraud against the Company and its subsidiaries; (B) willful unauthorized disclosure
of Confidential Information; (C) willful failure to obey a material lawful directive that is appropriate to your position and does not interfere or conflict with the powers and authority granted to you hereunder; (D) willful and material
violation of any formal written policy of the Company that is generally applicable to all employees or all officers of the Company and its subsidiaries including, but not limited to, policies concerning insider trading or sexual harassment,
Supplemental Code of Ethics for Senior Financial Officers, and the Company’s Business Conduct Statement; (E) willful and material breach of any of your material obligations under this Agreement; (F) your willful misfeasance having a
material adverse effect on the Company and its subsidiaries (except in the event of your Disability (as such term is defined below) as set forth herein); (G) conviction of a felony; (H) willful failure to cooperate with a bona fide internal
investigation or investigation by regulatory or law enforcement authorities or the willful destruction or knowing and intentional failure to preserve documents or other material reasonably known by you to be relevant to such an investigation, or the
inducement of others so to fail to cooperate or to destroy or fail to produce documents or other material; or (I) conduct which is reasonably likely to bring you into public disrepute in a manner materially adverse to the Company. 

For purposes of the foregoing definition, an act or omission shall be considered “willful” if done, or omitted to be done, by you
with knowledge and intent. 
 Anything herein to the contrary notwithstanding your termination of employment by the Company will not be
deemed to be for Cause pursuant to clauses (A), (B), (C), (D), (E), (F), (H) and (I) above unless and until: (x) there shall have been delivered to you, at the direction of the Board pursuant to a resolution duly adopted by the Required
Vote, written notice of the Company’s intention to terminate you for Cause setting forth the nature of 

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 any alleged misfeasance in reasonable detail (including any corroborating evidence) and, if
such misfeasance is capable of being cured, the conduct required to cure, which notice shall be delivered as soon as practicable, but in no event later than forty-five (45) calendar days, after the occurrence of an event alleged to constitute
Cause is known by (i) the CEO or any other member of the Board, or (ii) the General Counsel of the Company; (y) except for a failure, conduct or breach which by its nature cannot be cured, you have been afforded thirty
(30) calendar days from the receipt of such notice within which to cure and, if so cured, after which period the Company cannot terminate your employment under this Agreement for the stated reason; and (z) there shall have been delivered
to you a copy of a resolution duly adopted by the Board by the Required Vote at a meeting of the Board called and held for such purpose (after reasonable notice is provided to you and you are given an opportunity, together with counsel, to be heard
before the Board) finding that, in the good faith opinion of the Board by the Required Vote, Cause exists and specifying the particulars thereof in reasonable detail (collectively, the “Procedural Requirements”). For purposes
of this Agreement, no such purported termination of your employment for Cause set forth in clauses (A), (B), (C), (D), (E), (F), (H) or (I) above shall be effective unless and until all of the Procedural Requirements have been satisfied. 

For purposes of this Agreement, “Required Vote” shall mean the “Requisite Approval” as such term is defined
in the Amended and Restated By-Laws of the Company attached as Exhibit C to the Merger Agreement (as such By-Laws may be amended or modified from time to time in
accordance with the terms of the Merger Agreement or the terms of such By-Laws). 

(ii) In the event that your employment terminates under paragraph 7(a)(i) during the Term, the Company shall have no further
obligations under this Agreement (other than as set forth in paragraph 6 hereof), including, without limitation, any obligation to pay Salary or Bonus or provide benefits, except for the Accrued Obligations (as defined below) or as required by
applicable law. 
 (b) Termination without Cause. 

(i) CBS may terminate your employment under this Agreement without Cause at any time during the Term by providing written
notice of termination to you; provided, however, that such termination shall only be effective if approved by the Required Vote. 

(ii) In the event that your employment terminates under paragraph 7(b)(i) during the Term hereof you shall have a
“Qualifying Termination” (as such term is defined in the CBS Retention Plan Letter) and you shall thereafter receive, less applicable withholding taxes, (u) any unpaid Salary through and including the date of termination, any unpaid
Bonus earned for the calendar year prior to the calendar year in which you are terminated, and any business expense reimbursements incurred but not yet approved and/or paid, payable within thirty (30) days following your termination date,
(v) any accrued vested benefits under any employee benefit or pension plan of CBS or its affiliates (including any equity plan or award agreement thereunder) subject to the terms and 

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conditions of such plan or pursuant to applicable law, (w) any rights in connection with your interests as a stockholder, (x) any rights to indemnification pursuant to paragraph 19, and
(y) such other amounts as are required to be paid or provided by law (the “Accrued Obligations”), and (z) subject to your compliance with paragraph 7(j) hereunder, the payments and benefits set forth in the CBS
Retention Plan Letter; 
 (c) Resignation without Good Reason. You may voluntarily resign your employment under this Agreement without
Good Reason at any time during the Term by providing written notice of resignation to CBS. In the event that your employment terminates under this paragraph 7(c) during the Term, the Company shall have no further obligations under this Agreement
(other than as set forth in paragraph 6 hereof), including, without limitation, any obligation to pay Salary or Bonus or provide benefits, except for the Accrued Obligations or as required by applicable law. 

(d) Resignation with Good Reason. 

(i) You may resign your employment under this Agreement with Good Reason at any time during the Term by written notice of
termination to the Company given no more than thirty (30) days after you learned of the occurrence of the event constituting Good Reason. Such notice shall state an effective resignation date that is not earlier than thirty (30) days and
not later than sixty (60) days after the date it is given to the Company, provided that the Company may set an earlier effective date for your resignation at any time after receipt of your notice. For purposes of this Agreement (and any
other agreement that expressly incorporates the definition of Good Reason hereunder), “Good Reason” shall mean the occurrence of any of the following without your consent (other than in connection with the termination or
suspension of your employment or duties for Cause or in connection with physical and mental incapacity): (A) a reduction in (1) your position, titles, offices, reporting relationships, authorities, duties or responsibilities from those set
forth in paragraph 2, including any such reduction effected through any arrangement involving the sharing of your position, titles, offices, reporting relationships, authorities, duties or responsibilities, or any such reduction which would remove
positions, titles, offices, reporting relationships, authorities, duties or responsibilities which are customarily given to the highest ranking financial officer of a public company comparable to the Company or (2) your base Salary or target
compensation as set forth in paragraph 3, including your annual Target Bonus or long term incentive targets (for the avoidance of doubt, a reduction shall include and be deemed to have occurred with respect to clause (A)(1) above if either
(x) you cease to be the most senior executive responsible for the financial affairs of the Company (provided that if the Company has an ultimate parent company that is a public company, instead you are not the most senior executive responsible
for the financial affairs of the ultimate public parent company) or (y) neither the Company nor its ultimate parent company (if any) is a public company); (B) the assignment to you of duties or responsibilities that are inconsistent or conflict
with your position, titles, offices or reporting relationships as set forth in paragraph 2 or that impair your ability to function as Executive Vice President, Chief Financial Officer, of the Company; (C) the material breach by the Company of
any of its obligations under this Agreement (it being understood that a breach by the Company of its obligations under 

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paragraph 3 shall constitute a material breach of this Agreement); or (D) the requirement that you relocate outside of the metropolitan area in which you currently are employed (as described
in paragraph 2 of this Agreement) to any metropolitan area other than New York. The Company shall have thirty (30) days from the receipt of your notice within which to cure and, in the event of such cure, your notice shall be of no further
force or effect. If no cure is effected, your resignation will be effective as of the date specified in your written notice to the Company or such earlier effective date set by the Company following receipt of your notice. 

(ii) In the event that your employment terminates under paragraph 7(d)(i) during the Term, you shall thereafter receive, less
applicable withholding taxes, (x) the Accrued Obligations, payable within thirty (30) days following your termination date, and (y), subject to your compliance with paragraph 7(j) hereunder, the payments and benefits as set
forth the CBS Retention Plan Letter. 
 (e) Death. 

(i) Your employment with the Company shall terminate automatically upon your death. 

(ii) In the event of your death prior to the end of the Term while you are actively employed, your beneficiary or estate shall
receive (x) the Accrued Obligations, payable, less applicable withholding taxes, within 30 days following your date of death; and (y) bonus compensation for the calendar year in which your death occurs, determined in
accordance with the STIP (i.e., based upon the Company’s achievement of its goals and the Company’s good faith estimate of your achievement of your personal goals) and prorated for the portion of the calendar year through and
including your date of death, payable, less applicable withholding taxes, between January 1st and March 15th of the following calendar year. In
addition, (A) all stock option and stock appreciation right awards (or portions thereof) that have not vested and become exercisable on the date of such termination shall accelerate and vest immediately, and shall continue to be exercisable by
your beneficiary or estate until the greater of two years following your date of death or the period provided in accordance with the terms of the grant, provided that in no event shall the exercise period of such awards extend beyond their
expiration date; (B) all stock option and stock appreciation right awards (or portions thereof) that have previously vested and become exercisable by the date of your death shall remain exercisable by your beneficiary or estate until the
greater of two years following your date of death or the period provided in accordance with the terms of the grant, provided that in no event shall the exercise period of such awards extend beyond their expiration date; (C) all RSU
awards and equity awards other than stock options and stock appreciation rights (or portions thereof) that remain subject only to time-based vesting conditions on the date of your death shall immediately vest and be settled within ten
(10) business days thereafter; and (D) all RSU awards and equity awards other than stock options and stock appreciation rights (or portions thereof) that remain subject to performance-based vesting conditions on the date of your death
shall vest if and to the extent the Committee certifies that a level of the performance goal(s) relating to such RSU or other equity award has been met following 

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the end of the applicable performance period, and shall be settled within ten (10) business days thereafter. 

(iii) In the event of your death after the termination of your employment (which termination occurred during the Term) under
circumstances described in paragraph 7(b)(i), 7(d)(i) or 7(g)(ii), but prior to payment of any amounts or benefits described in paragraphs 7(b)(ii), 7(d)(ii) or 7(g)(ii), that you would have received had you continued to live, all such amounts and
benefits shall be paid, less applicable deductions and withholding taxes, to your beneficiary (or, if no beneficiary has been designated, to your estate) in accordance with the applicable payment schedule set forth in the CBS Retention Plan Letter.

 (f) Disability. 

(i) If, while employed during the Term, you become “disabled” within the meaning of such term under the
Company’s Short-Term Disability (“STD”) program (such condition is referred to as a “Disability” or being “Disabled”), you will be considered to have experienced a
termination of employment with the Company and its subsidiaries as of the date you first become eligible to receive benefits under the Company’s Long-Term Disability (“LTD”) program or, if you do not become eligible to
receive benefits under the Company’s LTD program, you have not returned to work by the six (6) month anniversary of your Disability onset date. 

(ii) Except as provided in this paragraph 7(f)(ii), if you become Disabled while employed full-time during the Term, you will
exclusively receive compensation under the STD program in accordance with its terms and, thereafter, under the LTD program in accordance with its terms, provided you are eligible to receive LTD program benefits. Notwithstanding the foregoing, if you
have not returned to work by December 31st of a calendar year during the Term, you will receive bonus compensation for the calendar year(s) during the Term in which you receive compensation under
the STD program, determined as follows: 
 (A) for the portion of the calendar year from January 1st until the date on which you first receive compensation under the STD program, bonus compensation shall be determined in accordance with the STIP (i.e., based upon the Company’s achievement of
its goals and the Company’s good faith estimate of your achievement of your personal goals) and prorated for such period; and 

(B) for any subsequent portion of that calendar year and any portion of the following calendar year in which you receive
compensation under the STD program, bonus compensation shall be in an amount equal to your Target Bonus and prorated for such period(s). 

(iii) Bonus compensation under paragraph 7(f)(ii) shall be paid, less applicable deductions and withholding taxes, between
January 1st and March 15th of the calendar year following the calendar year to which such bonus compensation relates. You

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will not receive bonus compensation for any portion of the calendar year(s) during the Term while you receive benefits under the LTD program. For the periods that you receive compensation and
benefits under the STD and LTD programs, such compensation and benefits and the bonus compensation provided under paragraph 7(f)(ii) are in lieu of Salary and Bonus under paragraphs 3(a) and (b). 

(iv) In addition, if your employment terminates due to your “Permanent Disability” (as defined in the LTIP or, if
applicable, a predecessor plan to the LTIP or any plan pursuant to which you received any awards while employed by the Company or its subsidiaries), (i) all stock option and stock appreciation right awards (or portions thereof) that have not vested
and become exercisable on your termination date shall accelerate and vest immediately, and shall continue to be exercisable until the greater of three years following the termination date or the period provided in accordance with the terms of the
grant, provided that in no event shall the exercise period of such awards extend beyond their expiration date; (ii) all stock option and stock appreciation right awards (or portions thereof) that have previously vested and become
exercisable by your termination date shall remain exercisable until the greater of three years following the termination date or the period provided in accordance with the terms of the grant, provided that in no event shall the exercise
period of such awards extend beyond their expiration date; (iii) all RSU awards and equity awards other than stock options and stock appreciation rights (or portions thereof) that remain subject only to time-based vesting conditions on your
termination date shall immediately vest and be settled within ten (10) business days thereafter; and (iv) all RSU awards and equity awards other than stock options and stock appreciation rights (or portions thereof) that remain subject to
performance-based vesting conditions on your termination date shall vest if and to the extent the Committee certifies that a level of the performance goal(s) relating to such RSU or other equity award has been met following the end of the applicable
performance period, and shall be settled within ten (10) business days thereafter. Notwithstanding the foregoing, if you are a “specified employee” (within the meaning of Section 409A of the Internal Revenue Code of 1986, as
amended (“Section 409A”), and determined pursuant to procedures adopted by the Company) at the time of your termination due to Permanent Disability and any portion of your RSUs or other equity
awards that would otherwise be settled during the six-month period following your termination of employment constitutes “deferred compensation” within the meaning of Code Section 409A, such
portion shall instead be settled on the earlier of (x) the first business day of the seventh calendar month following the calendar month in which your termination of employment occurs or (y) your date of death. 

(g) Renewal Notice / Non-Renewal. 

(i) The Company shall notify you six (6) months prior to the expiration of the Term in writing if it intends to continue
your employment beyond the expiration of the Term. If you are notified that the Company does intend to continue your employment, then you agree that you and the Company shall negotiate following such notification. Nothing contained herein shall
obligate the Company to either maintain the provision of any term herein or provide an increase 

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to your compensation hereunder upon such renewal or obligate you to accept any reduction in compensation or to agree to any other terms upon such renewal. 

(ii) If you remain employed on the date that is the last day of the Term, but have not entered into a new contractual
relationship with the Company (or any of the Company’s subsidiaries), and the Company advises on or before the last day of the Term that it does not wish to continue your employment on an “at will” basis beyond expiration of the Term,
or you notify the Company on or before the last day of the Term that you do not wish to continue your employment on an “at will” basis beyond the expiration of the Term, your employment shall automatically terminate on the day next
following the Expiration Date, and you shall receive the same payments and benefits as though you had been terminated pursuant to paragraph 7(b)(i) hereof on the last day of the Term and had a “Qualifying Termination” under the CBS
Retention Plan Letter. 
 (iii) If you remain in the employ of the Company beyond the Expiration Date, but have not entered
into a new written contractual relationship with the Company (or any of the Company’s subsidiaries), your continued employment shall be “at will” and on such terms and conditions as the Company may at the time establish, and either
party, during such period, may terminate your employment at any time, provided that if the Company terminates your employment during such period without cause, then you shall become eligible to receive severance under the then current the
Company severance policy applicable to executives at your level, subject to the terns of such severance policy (including your execution of a release in favor of the Company pursuant to such policy to the extent required). 

(h) Resignation from Official Positions. If your employment with the Company terminates for any reason, you shall automatically be
deemed to have resigned at that time from any and all officer or director positions that you may have held with the Company, or any of the Company’s affiliated companies and all board seats or other positions in other entities you held on
behalf of the Company, including any fiduciary positions (including as a trustee) you hold with respect to any employee benefit plans or trusts established by the Company. You agree that this Agreement shall serve as written notice of resignation in
this circumstance. If, however, for any reason this paragraph 7(h) is deemed insufficient to effectuate such resignation, you agree to execute, upon the request of the Company or any of its affiliated companies, any documents or instruments which
the Company may deem necessary or desirable to effectuate such resignation or resignations, and you hereby authorize the Secretary and any Assistant Secretary of the Company or any of the Company’s affiliated companies to execute any such
documents or instruments as your attorney-in-fact. 
 (i)
Termination of Benefits. Notwithstanding anything in this Agreement to the contrary (except as otherwise provided in the CBS Plan Retention Letter with respect to medical and dental benefits and life and AD&D insurance), participation in
all the Company benefit plans and programs (including, without limitation, vacation accrual, all retirement and related excess plans and LTD) will terminate upon the termination of your employment except to

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the extent otherwise expressly provided in such plans or programs, and subject to any vested rights you may have under the terms of such plans or programs. The foregoing shall not apply to the
LTIP and, after the termination of your employment, your rights under the LTIP shall be governed by the terms of the LTIP award agreements, certificates, the applicable LTIP plan(s) and this Agreement. 

(j) Release. 

(i) Notwithstanding any provision in this Agreement or the CBS Retention Plan Letter to the contrary, prior to payment by the
Company of any amount or provision of any benefit pursuant to the CBS Retention Plan Letter within sixty (60) days following your termination of employment, (x) you shall have executed and delivered to the Company a general release
in the form attached hereto as Exhibit A and (y) such general release shall have become effective and irrevocable in its entirety (unless such general release has not become effective and irrevocable in its entirety due to the
other party thereto failing to execute such general release, in which case the requirements of this paragraph shall be waived as to you) (such date, the “Release Effective Date”); provided, however, that if, at
the time any cash severance payments are scheduled to be paid to you pursuant to the CBS Retention Plan Letter you have not executed a general release that has become effective and irrevocable in its entirety (unless such general release has not
become effective and irrevocable in its entirety due to the other party thereto failing to execute such general release, in which case the requirements of this paragraph shall be waived as to you), then any such cash severance payments shall be held
and accumulated without interest, and shall be paid to you on the first regular payroll date following the Release Effective Date and the vesting of any stock options, RSUs and other equity awards shall be suspended until the Release Effective Date.
Your failure or refusal to sign and deliver the release or your revocation of an executed and delivered release (unless such general release has not become effective and irrevocable in its entirety due to the other party thereto failing to execute
such general release) in accordance with applicable laws, will result in the forfeiture of the payments and benefits under the CBS Retention Plan Letter. Notwithstanding the foregoing, if the sixty (60) day period does not begin and end in the
same calendar year, then the Release Effective Date shall occur no earlier than January of the calendar year following the calendar year in which your termination occurs. 

(ii) Notwithstanding any provision in this Agreement to the contrary, the payments and benefits described in paragraphs
7(b)(ii), 7(d)(ii) and 7(g)(ii), as applicable, shall immediately cease, and the Company shall have no further obligations to you with respect thereto, in the event that you materially breach any provision of paragraph 6 hereof; provided,
however, that the Company shall provide you with written notice setting forth the nature of any alleged breach in reasonable detail and, unless the Company reasonably determines that such breach is incapable of being cured, the conduct
required to cure and an opportunity of at least ten (10) business days from the giving of such notice within which to cure. 
  

8. No Acceptance of Payments. You represent that you have not accepted or given nor will you accept or give, directly or indirectly, any
money, services or other valuable 

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consideration from or to anyone other than the Company for the inclusion of any matter as part of any film, television program or other production produced, distributed and/or developed by the
Company, or any of the Company’s controlled affiliated companies. 
 9. Equal Opportunity Employer; Employee Statement of Business
Conduct. You recognize that the Company is an equal opportunity employer. You agree that you will comply with the Company policies regarding employment practices and with applicable federal, state and local laws prohibiting discrimination on the
basis of race, color, sex, religion, national origin, citizenship, age, marital status, sexual orientation, disability or veteran status. In addition, you agree that you will comply with the Company’s Business Conduct Statement. 

10. Notices. All notices under this Agreement must be given in writing, by personal delivery or by registered mail, at the parties’
respective addresses shown in this Agreement (or any other address designated in writing by either party), with a copy, in the case of the Company, to the attention of the General Counsel. Copies of all notices to you shall be given to Hughes
Hubbard & Reed LLP, One Battery Park Plaza, New York, NY 10004, Attention: Kenneth A. Lefkowitz. Any notice given by registered mail shall be deemed to have been given three days following such mailing. 

11. Assignment. This is an Agreement for the performance of personal services by you and may not be assigned by you or the Company
except that the Company may assign this Agreement to any majority-owned subsidiary of or any successor in interest to the Company, provided that such assignee expressly assumes all of the obligations of the Company hereunder and the Company shall
continue to remain liable for all of the assigned obligations hereunder. 
 12. New York Law, Etc. You acknowledge that this
Agreement has been executed, in whole or in part, in the State of New York and that your employment duties are primarily performed in New York. Accordingly, you agree that this Agreement and all matters or issues arising out of or relating to your
employment with the Company shall be governed by the laws of the State of New York applicable to contracts entered into and performed entirely therein without giving effect to any choice or conflict of law provision or rule that would cause the
application of the laws of any jurisdiction other than the State of New York. 
 13. No Implied Contract. Nothing contained in
this Agreement shall be construed to impose any obligation on the Company or you to renew this Agreement or any portion thereof. The parties intend to be bound only upon execution of a written agreement and no negotiation, exchange of draft or
partial performance shall be deemed to imply an agreement. Neither the continuation of employment nor any other conduct shall be deemed to imply a continuing agreement upon the expiration of the Term. 

14. Void Provisions. If any provision of this Agreement, as applied to either party or to any circumstances, shall be found by a court
of competent jurisdiction to be unenforceable but would be enforceable if some part were deleted or the period or area of application were reduced, then such provision shall apply with the modification necessary to make it enforceable, and shall in
no way affect any other provision of this Agreement or the validity or enforceability of this Agreement. 

 Christina Spade 

as of August 13, 2019 
  Page
 17
 
  

 15. Entire Understanding; Supersedes Prior Agreements. This Agreement, together with
that certain letter agreement regarding the CBS Corporation Senior Executive Retention Plan (the terms of which are incorporated by reference into this Agreement) dated January 22, 2019, by and between the Company and you (the “CBS
Retention Plan Letter”) contain the entire understanding of the parties hereto as of the date that the Agreement is signed by both parties relating to the subject matter contained in this Agreement, and can be changed only by a writing
signed by both parties. Upon the effectiveness of the Term, this Agreement supersedes and cancels all prior agreements (other than the CBS Retention Plan Letter) relating to your employment by the Company or any of the Company’s affiliated
companies relating to the subject matter herein, including, without limitation, your employment agreement with the Company dated as of October 18, 2018 (the “Prior Employment Agreement”); provided, however,
that no provision in this Agreement shall be construed to adversely affect any of your rights to compensation, expense reimbursement or benefits (including equity compensation) payable in accordance with the terms of the Prior Employment Agreement
(and applicable equity award agreements) or any of your rights to indemnification with respect to your service under the Prior Employment Agreement, all of which are expressly agreed to survive the execution of this Agreement. For the avoidance of
doubt, the CBS Retention Plan Letter shall survive the execution of this Agreement and remain enforceable in accordance with its terms. If the transactions contemplated in the Merger Agreement are not consummated (i.e., the Closing does not
occur), this Agreement shall be void ab initio, except for the provisions of this sentence of paragraph 15, paragraph 20, paragraph 21 and paragraph 22, which shall continue in full force and effect. 

16. Payment of Deferred Compensation – Code Section 409A. 

(a) To the extent applicable, it is intended that the compensation arrangements under this Agreement be in full compliance with Code
Section 409A. This Agreement shall be construed in a manner to give effect to such intention. In no event whatsoever (including, but not limited to as a result of this paragraph 16 or otherwise) shall the Company or any of its affiliates be
liable for any tax, interest or penalties that may be imposed on you under Code Section 409A. Neither the Company nor any of its affiliates have any obligation to indemnify or otherwise hold you harmless from any or all such taxes, interest or
penalties, or liability for any damages related thereto. You acknowledge that you have been advised to obtain independent legal, tax or other counsel in connection with Code Section 409A. 

(b) Your right to any in-kind benefit or reimbursement benefits pursuant to any provisions of this
Agreement or pursuant to any plan or arrangement of the Company covered by this Agreement shall not be subject to liquidation or exchange for cash or another benefit. 

17. Arbitration. If any disagreement or dispute whatsoever shall arise between the parties concerning, arising out of or relating to
this Agreement (including the documents referenced herein) or your employment with the Company, the parties hereto agree that such disagreement or dispute shall be submitted to binding arbitration before the American Arbitration Association (the
“AAA”), and that a neutral arbitrator will be selected in a manner consistent with its Employment Arbitration Rules and Mediation Procedures (the “Rules”). Such arbitration shall be confidential and
private and conducted in accordance with the Rules. Any such arbitration proceeding shall take place in New York City before a single arbitrator (rather than a panel of 

 Christina Spade 

as of August 13, 2019 
  Page
 18
 
  

 
arbitrators). The parties agree that the arbitrator shall have no authority to award any punitive or exemplary damages and waive, to the full extent permitted by law, any right to recover such
damages in such arbitration. Each party shall bear its respective costs (including attorney’s fees, and there shall be no award of attorney’s fees), provided that if you are the prevailing party (as determined by the arbitrator in
his or her discretion), you shall be entitled to recover all of your costs (including attorney’s fees) reasonably incurred in connection with such dispute. Following the arbitrator’s issuance of a final
non-appealable award setting forth that you are the prevailing party, the Company shall reimburse you for such costs within thirty (30) days following its receipt of reasonable written evidence
substantiating such costs, provided that in no event will payment be made to you later than the last day of the calendar year next following the calendar year in which the award is issued. If there is a dispute regarding the reasonableness of
the costs you incur, the same arbitrator shall determine, in his or her discretion, the costs that shall be reimbursed to you by the Company. Judgment upon the final award(s) rendered by such arbitrator, after giving effect to the AAA internal
appeals process, may be entered in any court having jurisdiction thereof. The Company, on its own behalf and on behalf of each of its affiliates, including, without limitation, all of their respective subsidiaries, officers, directors, and, to the
fullest extent permitted by applicable law, their respective stockholders, agrees not to bring any suits, claims or other legal proceeding of any nature against you in any venue other than binding arbitration before the AAA pursuant to the terms of
this paragraph. Notwithstanding anything herein to the contrary, you and/or the Company, as applicable, shall be entitled to seek injunctive, provisional and equitable relief in a court proceeding solely as a result of the Company’s or the
Specified Executives’ or your, as applicable, alleged violation of the terms of paragraph 6 of this Agreement, and you and the Company, on its own behalf and on behalf of the Specified Executives, hereby consent and agree to exclusive personal
jurisdiction in any state or federal court located in the City of New York, Borough of Manhattan. 
 18. Limitation on Payments. 

(a) In the event that the payments and benefits provided for in this Agreement or other payments and benefits payable or provided to you
(i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) but for this paragraph 18, would be subject to the excise tax imposed by Section 4999 of the Code, then your payments and
benefits under this Agreement or other payments or benefits (the “280G Amounts”) will be either: 

(i) delivered in full; or 

(ii) delivered as to such lesser extent that would result in no portion of the 280G Amounts being subject to the excise tax
under Section 4999 of the Code; whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999 of the Code, results in the receipt by you on an after-tax basis of the greatest amount of 280G Amounts, notwithstanding that all or some portion of the 280G Amounts may be taxable under Section 4999 of the Code. 

(b) In the event that a reduction of 280G Amounts is made in accordance with this paragraph 18, the reduction will occur, with respect to the
280G Amounts considered 

 Christina Spade 

as of August 13, 2019 
  Page
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parachute payments within the meaning of Section 280G of the Code, in the following order: 

(i) reduction of cash payments in reverse chronological order (i.e., the cash payment owed on the latest date following
the occurrence of the event triggering the excise tax will be the first cash payment to be reduced); 
 (ii) cancellation of
equity awards that were granted contingent on a change in ownership or control” within the meaning of Code Section 280G, in the reverse order of date of grant of the awards (i.e., the most recently granted equity awards will be
cancelled first); 
 (iii) reduction of the accelerated vesting of equity awards in the reverse order of date of grant of the
awards (i.e., the vesting of the most recently granted equity awards will be cancelled first); and 
 (iv) reduction
of employee benefits in reverse chronological order (i.e., the benefit owed on the latest date following the occurrence of the event triggering the excise tax will be the first benefit to be reduced). In no event will you have any discretion
with respect to the ordering of payment reductions. 
 (c) Unless you and the Company otherwise agree in writing, any determination required
under this paragraph 18 will be made in writing by a nationally recognized accounting or valuation firm (the “Firm”) selected by the Company, whose determination will be conclusive and binding upon you and the Company for all
purposes. For purposes of making the calculations required by this paragraph 18, the Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the
application of Sections 280G and 4999 of the Code. The Company and you will furnish to the Firm such information and documents as the Firm may reasonably request in order to make a determination under this paragraph 18. The Company will bear all
costs for payment of the Firm’s services in connection with any calculations contemplated by this paragraph 18. 
 19.
Indemnification. 
 (a) If you are made a party, are threatened to be made a party to, or otherwise receive any other legal process
in, any action, suit or proceeding, whether civil, criminal, administrative or investigative (a “Proceeding”), by reason of the fact that you are or were a director, officer or employee of the Company or any of its
subsidiaries or affiliates or are or were serving at the request of the Company or any of its subsidiaries or affiliates as a director, officer, member, employee or agent of another corporation, partnership, joint venture, trust or other enterprise,
including service with respect to employee benefit plans, whether or not the basis of such Proceeding is your alleged action in an official capacity while serving as director, officer, member, employee or agent, the Company shall indemnify you and
hold you harmless to the fullest extent permitted or authorized by the Company’s certificate of incorporation and bylaws or, if greater, by the laws of the State of Delaware, against all cost, expense, liability and loss (including

 Christina Spade 

as of August 13, 2019 
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without limitation, attorney’s fees, judgments, fines, ERISA excise taxes or penalties and amounts paid or to be paid in settlement and any cost and fees incurred in enforcing your rights to
indemnification or contribution) actually and reasonably incurred or suffered by you in connection therewith, and such indemnification shall continue even though you have ceased to be a director, member, employee or agent of the Company or other
entity and shall inure to the benefit of your heirs, executors and administrators. The Company shall advance to you all reasonable costs and expenses that you incur in connection with a Proceeding within thirty (30) days after its receipt of a
written request for such advance. Such request shall include an undertaking by you to repay the amount of such advance if it shall ultimately be determined that you are not entitled to be indemnified against such costs and expenses. 

(b) Neither the failure of the Company (including its board of directors, independent legal counsel or stockholders) to have made a
determination that indemnification of you is proper because you have met the applicable standard of conduct, nor a determination by the Company (including its board of directors, independent legal counsel or stockholders) that you have not met such
applicable standard of conduct, shall create a presumption or inference that you have not met the applicable standard of conduct. 
 (c) To
the extent that the Company maintains officers’ and directors’ liability insurance, you will be covered under such policy subject to the exclusions and limitations set forth therein. To the extent that the Company or any of its affiliates
maintain “tail” officers’ and directors’ liability insurance pursuant to the terms of the Merger Agreement, you will be covered under such policy subject to the exclusions and limitations set forth therein. 

(d) The provisions of this paragraph 19 shall survive the expiration or termination of your employment and/or this Agreement. 

20. Legal Fees. The Company shall reimburse you for reasonable legal fees and expenses incurred by you in connection with the
negotiation and preparation of this Agreement and related documents and matters, subject to a cap of Seventy-Five Thousand Dollars ($75,000). Any such reimbursement shall be made within 60 calendar days following the date on which the Company
receives appropriate documentation with respect to such fees and expenses, but in no event shall payment be made later than December 31 of the calendar year following the calendar year in which you incur the related fees and expenses. The
provisions of this paragraph 20 are effective immediately upon execution of this Agreement by you and the Company. 
 21. Immediate
Effect. Notwithstanding anything herein to the contrary, the value of your LTIP award for the fiscal year 2020 shall be made at your target level as set forth in paragraph 3(c)(i) hereof (without proration); provided, however, that
if the Closing does not occur by the end of fiscal year 2020, the grant value of your 2020 LTIP award will automatically reduce to the target grant value in the Prior Employment Agreement. The provisions of this paragraph 21 are effective
immediately upon execution of this Agreement by you and the Company. 
 22. Representations of the Company. Effective as of the
execution of this Agreement and as of the Effective Date, CBS hereby represents and warrants to you that (i) this Agreement has been duly authorized and executed by the Company, (ii) this Agreement is a legal, valid and

 Christina Spade 

as of August 13, 2019 
  Page
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binding obligation of the Company enforceable against the Company in accordance with its terms, (iii) each of the CBS Corporation Senior Executive Retention Plan and the CBS Retention Plan
Letter has taken effect as of August 13, 2019, shall remain in effect for its respective term (as provided therein) and is a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms and
(iv) the Board, upon the recommendation from each of the Chair of the Committee and the members of the Special Committee of the Board, has unanimously adopted resolutions approving this Agreement. 

23. Clawback Policy. Any compensation provided to you, whether under this Agreement or otherwise, with regard to your employment with
the Company and/or its subsidiaries, as applicable, shall be subject to the applicable provisions of any clawback policy implemented by the Company from time to time, including any policy implemented pursuant to the Dodd-Frank Wall Street Reform and
Consumer Protection Act and any rules or regulations promulgated thereunder. 
 24. Counterparts. This Agreement may be executed in
one or more counterparts, including by facsimile, and all of the counterparts shall constitute one fully executed agreement. The signature of any party to any counterpart shall be deemed a signature to, and may be appended to, any other counterpart.

 [signature page to follow] 

 If the foregoing correctly sets forth our understanding, please sign, date and return all
four (4) copies of this Agreement to the undersigned for execution on behalf of the Company; after this Agreement has been executed by the Company and a fully-executed copy returned to you, it shall constitute a binding agreement between us.

  

			
	Very truly yours,
	
	CBS CORPORATION
		
	By:	 	 /s/ Stephen D. Mirante

	Name:	 	Stephen D. Mirante
	Title:	 	Executive Vice President,
		 	Chief Administrative Officer

  

			
	ACCEPTED AND AGREED:
	
	 /s/ Christina Spade

	Christina Spade

			
		
	Dated:	 	August 13, 2019                                  
                         

 EXHIBIT A 

Form of General Release 

GENERAL RELEASE 
 WHEREAS,
Christina Spade (hereinafter referred to as the “Executive”) and CBS Corporation (hereinafter referred to as “Employer”) are parties to an Employment Agreement, dated as of August 13, 2019 (the
“Employment Agreement”), which provided for Executive’s employment with Employer on the terms and conditions specified therein; and 

WHEREAS, pursuant to paragraph 7(j) of the Employment Agreement, Executive has agreed to execute a General Release of the type and nature set
forth herein as a condition to her entitlement to certain payments and benefits upon her termination of employment with Employer; and 

NOW, THEREFORE, in consideration of the premises and mutual promises herein contained and for other good and valuable consideration received
or to be received by Executive in accordance with the terms of the Employment Agreement, it is agreed as follows: 
 1. Excluding enforcement
of the covenants, promises and/or rights reserved herein (including but not limited to those contained in paragraph 4), (a) Executive hereby irrevocably and unconditionally waives, releases, settles (gives up), acquits and forever discharges
Employer and each of Employer’s owners, stockholders, predecessors, successors, assigns, directors, officers, employees, divisions, subsidiaries, affiliates (and directors, officers and employees of such companies, divisions, subsidiaries and
affiliates) and all persons acting by, through, under or in concert with any of them (collectively, the “Releasees”), or any of them, from any and all charges, complaints, claims, liabilities, obligations, promises,
agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and costs actually incurred) of any nature whatsoever, known or unknown, suspected or
unsuspected, including, but not limited to, any claims for salary, salary increases, alleged promotions, expanded job responsibilities, constructive discharge, misrepresentation, bonuses, equity awards of any kind, severance payments, unvested
retirement benefits, vacation entitlements, benefits, moving expenses, business expenses, attorneys’ fees, any claims which she may have under any contract or policy (whether such contract or policy is written or oral, express or implied),
rights arising out of alleged violations of any covenant of good faith and fair dealing (express or implied), any tort, any legal restrictions on Employer’s right to terminate employees, and any claims which she may have based upon any Federal,
state or other governmental statute, regulation or ordinance, including, without limitation, Title VII of the Civil Rights Act of 1964, as amended, the Federal Age Discrimination In Employment Act of 1967, as amended
(“ADEA”), the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the American with Disabilities Act, as amended (“ADA”), the Civil Rights Act of 1991, as
amended, the 

  
 Exhibit A - 1 

 
Rehabilitation Act of 1973, as amended, the Older Workers Benefit Protection Act, as amended (“OWBPA”), the Worker Adjustment Retraining and Notification Act, as amended
(“WARN”), the Fair Labor Standards Act, as amended (“FLSA”), the Occupational Safety and Health Act of 1970 (“OSHA”), the Family and Medical Leave Act of 1993, as amended
(“FMLA”), the New York State Human Rights Law, as amended, the New York Labor Act, as amended, the New York Equal Pay Law, as amended, the New York Civil Rights Law, as amended, the New York Rights of Persons With
Disabilities Law, as amended, and the New York Equal Rights Law, as amended, the Sarbanes-Oxley Act of 2002, as amended (“SOX”), and Section 409A of the Internal Revenue Code of 1986, as amended
(“Section 409A”), that Executive now has, or has ever had, or ever shall have, against each or any of the Releasees, by reason of any and all acts, omissions, events, circumstances or facts
existing or occurring up through the date of Executive’s execution hereof that directly or indirectly arise out of, relate to, or are connected with, Executive’s services to, or employment by Employer (any of the foregoing being a
“Claim” or, collectively, the “Claims”); provided, that the foregoing shall not preclude Executive from exercising any legally protected whistleblower rights (including under Rule 21F under the
Exchange Act) or rights concerning the defense of trade secrets; and (b) Executive will not now, or in the future, accept any recovery (including monetary damages or any form of personal relief) in any forum, nor will she pursue or institute
any Claim against any of the Releasees. 
 2. Employer hereby irrevocably and unconditionally waives, releases, settles (gives up), acquits
and forever discharges the Executive and each of her respective heirs, executors, administrators, representatives, agents, successors and assigns (“Executive Parties”), or any of them, from any and all charges, complaints,
claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and costs actually incurred) of any nature
whatsoever, known or unknown, suspected or unsuspected, that Employer and each of its affiliates now has, or has ever had, or ever shall have, against Executive Parties, by reason of any and all acts, omissions, events, circumstances or facts
existing or occurring through the date of Employer execution of this release that directly or indirectly arise out of, relate to, or are connected with, the Executive’s services to, or employment by Employer or any of its affiliates;
provided, however, that this General Release shall not apply to any of the continuing obligations of Executive under the Employment Agreement, or under any agreements, plans, contracts, documents or programs described or referenced in
the Employment Agreement; and provided, further, that this General Release shall not apply to any rights Employer may have to obtain contribution or indemnity against Executive pursuant to contract or otherwise. 

3. In addition, if applicable Executive expressly waives and relinquishes all rights and benefits afforded by California Civil Code
Section 1542 and does so understanding and acknowledging the significance of such specific waiver of Section 1542. Section 1542 states as follows: 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH 

  
 Exhibit A - 2 

 
THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE
DEBTOR.” 
 Thus, notwithstanding the provisions of Section 1542, and for the purpose of implementing a full and complete release and discharge of
the Releasees, Executive expressly acknowledges that this Agreement is intended to include in its effect, without limitation, all Claims that Executive does not know or suspect to exist in Executive’s favor at the time of execution hereof, and
that this Agreement contemplates the extinguishment of any such Claim or Claims. 
 4. Notwithstanding the foregoing, neither the Employer
nor the Executive has waived and/or relinquished any rights she may have to file any Claim that cannot be waived and/or relinquished pursuant to applicable laws, including, in the case of Executive, the right to file a charge or participate in any
investigation with the Equal Employment Opportunity Commission or any other governmental or administrative agency that is responsible for enforcing a law on behalf of the government. Executive also acknowledges and understands that because Executive
is waiving and releasing all claims for monetary damages and any other form of personal relief per paragraph 1, Executive may only seek and receive non-personal forms of relief through any such claim.
Moreover, this General Release shall not apply to (a) any of the continuing obligations of Employer or any other Releasee under the Employment Agreement, or under any agreements, plans, contracts, documents or programs described or referenced
in the Employment Agreement or any other written agreement entered into between Executive and Employer, (b) any rights Executive may have to obtain contribution or indemnity against Employer or any other Releasee pursuant to contract,
Employer’s certificate of incorporation and by-laws, Agreement and Plan of Merger dated as of August 13, 2019, by and between CBS Corporation and Viacom Inc., or otherwise, (c) any rights
Executive may have to enforce the terms of this General Release or the Employment Agreement, (d) any claims for accrued, vested benefits under any employee benefit or pension plan of Employer or its affiliates subject to the terms and
conditions of such plan or pursuant to applicable law, (e) any rights of Executive in connection with her interest as a stockholder or optionholder of Employer whether under agreements between Executive and Employer or any of its affiliates or
otherwise, and (f) any rights of Executive under that certain CBS Corporation Senior Executive Retention Plan. 
 5. Executive
understands that she has been given a period of twenty-one (21) days to review and consider this General Release before signing it pursuant to the ADEA. Executive further understands that she may use as
much of this 21–day period as Executive wishes prior to signing. 
 6. Executive acknowledges and represents that she understands that
she may revoke the General Release set forth in paragraph 1, including, the waiver of her rights under the Age Discrimination in Employment Act of 1967, as amended, effectuated in this General Release, within seven (7) days of signing this
General Release. Revocation 

  
 Exhibit A - 3 

 
can be made by delivering a written notice of revocation to the General Counsel, CBS Corporation, 51 West 52nd Street, New York, New York
10019. For this revocation to be effective, written notice must be received by the General Counsel no later than the close of business on the seventh day after Executive signs this General Release. If Executive revokes the General Release set forth
in paragraphs 1 and 3, Employer shall have no obligations to Executive under paragraphs 7(b)(ii), 7(d)(ii) or 7(g)(ii) of the Employment Agreement, except to the extent specifically provided for therein. 

7. Executive and Employer respectively represent and acknowledge that in executing this General Release neither of them is relying upon, and
has not relied upon, any representation or statement not set forth herein made by any of the agents, representatives or attorneys of the Releasees with regard to the subject matter, basis or effect of this General Release or otherwise. 

8. This General Release shall not in any way be construed as an admission by any of the Releasees that any Releasee has acted wrongfully or
that Executive has any rights whatsoever against any of the Releasees except as specifically set forth herein, and each of the Releasees specifically disclaims any liability to any party for any wrongful acts. 

9. It is the desire and intent of the parties hereto that the provisions of this General Release be enforced to the fullest extent permissible
under law. Should there be any conflict between any provision hereof and any present or future law, such law shall prevail, but the provisions affected thereby shall be curtailed and limited only to the extent necessary to bring them within the
requirements of law, and the remaining provisions of this General Release shall remain in full force and effect and be fully valid and enforceable. 

10. Executive represents and agrees (a) that Executive has, to the extent she desires, discussed all aspects of this General Release with
her attorney, (b) that Executive has carefully read and fully understands all of the provisions of this General Release, and (c) that Executive is voluntarily executing this General Release. 

11. This General Release shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to
the conflicts of laws principles thereof or to those of any other jurisdiction which, in either case, could cause the application of the laws of any jurisdiction other than the State of New York. This General Release is binding on the successors and
assigns of the parties hereto; fully supersedes any and all prior agreements or understandings between the parties hereto pertaining to the subject matter hereof; and may not be changed except by explicit written agreement to that effect subscribed
by the parties hereto. 
 PLEASE READ CAREFULLY. THIS GENERAL RELEASE INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 

  
 Exhibit A - 4 

 This General Release is executed by the Executive and Employer as of the _______ day of
__________ , 20___. 
  

			
	  

	Christina Spade
	
	CBS CORPORATION
		
	By:	 	
                     
                                       

	Name:	 	
	Title:	 	

  
 Exhibit A - 5

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