Document:

exv10w17w1

     Exhibit 10.17.1

NON-EMPLOYEE DIRECTOR AWARD AGREEMENT

[Date]

Dear [Full Name]:

     Pursuant to the applicable Cablevision Systems Corporation Stock Plan for Non-Employee
Directors, on [•] (the “Grant Date”), you were granted options to purchase shares of
Cablevision Systems Corporation (“Cablevision”). In conjunction with the spin-off of
Madison Square Garden, Inc. (the “Company”) from Cablevision on [•] (the “Distribution
Date”), and pursuant to the Company’s 2010 Stock Plan for Non-Employee Directors (the
“Plan”), you are receiving the award described in this agreement (the “Agreement”)
of nonqualified stock options (the “Options”) to purchase [•] shares of Madison Square
Garden, Inc. Class A common stock (“Shares”) at a price of $  per share. The Options
are granted subject to the terms and conditions set forth below and in the Plan:

     1. OPTIONS

          1.1 You may exercise the Options at any time after the Distribution Date until the expiration
of the Options pursuant to Paragraph 3 hereof, by giving written notice to the Company, or such
person as the Company may designate, specifying the number of Options to be exercised (the
“Exercise Notice”), together with a copy of this letter or by following such procedures as
established by the Company.

          1.2 Prior to the delivery of the Shares for which the Option is being exercised, you will be
required to deliver to the Company, or such person as the Company may designate, the aggregate
exercise price of all Shares pursuant to such exercise of the Option. Payment may be made by cash,
a check payable to the order of the Company, or by the delivery of Shares duly endorsed over to the
Company (which Shares shall be valued at their Fair Market Value as of the date preceding the day
of such exercise), or combination of such methods of payment, which together amount to the full
exercise price of the Shares purchased pursuant to the exercise of the Option.

          1.3 All rights to exercise an Option shall expire ten years from the Grant Date provided,
however, that upon the termination of your service as a member of Cablevision’s Board of Directors
for any reason, all rights to exercise an Option shall terminate upon the first to occur of (i) the
third anniversary of the date of the termination of your service on Cablevision’s Board of
Directors and (ii) the expiration of ten years from the Grant Date. Notwithstanding the
foregoing, in the event of your death while an Option is exercisable, the Option will remain
exercisable by your estate or beneficiary only until the first anniversary of your date of death,
and whether or not such first anniversary occurs prior to or following the expiration of ten years
from the Grant Date or the third anniversary of the date of the termination of your service on
Cablevision’s Board of Directors.

     2. The Options (or any rights and obligations thereunder) granted to you may not be sold,
exchanged, transferred, assigned, pledged, hypothecated or otherwise disposed of, whether

 

 

voluntarily or involuntarily, other than by will or by the laws of descent and distribution,
and all such Options (and any rights thereunder) shall be exercisable during your lifetime only by
you or your legal representative. Notwithstanding the immediately preceding sentence, the Company
may permit, under such terms and conditions that it deems appropriate in its sole discretion, you
to transfer any Option to any person or entity that the Company so determines. Any assignment in
violation of the provisions of this Section or Section 11 of the Plan shall be void.

     3. It is the Company’s intent that the Options granted comply in all respects with Rule 16b-3
of the Securities Exchange Act of 1934, as amended (the “Act”). All actions with respect to
Options under the Plan shall be executed in accordance with the requirements of Section 16 of the
Act, as amended, and any regulations promulgated thereunder. To the extent that any of the
provisions contained herein do not conform with Rule 16b-3 of the Act or any amendments thereto or
any successor regulation, then the Compensation Committee of the Company’s Board of Directors may
make such modifications so as to conform the Options granted thereunder to the Rule’s requirements.

     4. The Options are not “incentive stock options” within the meaning of Section 422 of the
Internal Revenue Code of 1986, as amended, and cannot qualify for the special income tax benefits
related to such options.

     5. If Cablevision, the Company or any of their respective Affiliates, as applicable, shall be
required to withhold any amounts by reason of any federal, state or local tax laws, rules or
regulations in respect of the Options, you shall make available to Cablevision, the Company or any
of their respective Affiliates, as applicable, promptly when requested, sufficient funds to meet
the requirements of such withholding and Cablevision, the Company or any of their respective
Affiliates, as applicable, shall be entitled to take and authorize such steps as it may deem
advisable in order to have such funds available to Cablevision, the Company or any of their
respective Affiliates, as applicable, out of any funds or property to become due to you.

     6. The Options granted by this letter are being issued pursuant and subject to the Plan.
Capitalized terms used herein without definition shall have the meanings given to such terms that
are defined in the Plan.

	 	 	 	 	 
	 	MADISON SQUARE GARDEN, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

By your electronic signature, you acknowledge receipt of the Plan and of an executed original of
this letter and agree to all of the terms set forth herein.

-2-exv10w23

Exhibit 10.23

STANDSTILL AGREEMENT

BY AND AMONG

MADISON SQUARE GARDEN, INC.

AND

THE DOLAN FAMILY GROUP

 

 

STANDSTILL AGREEMENT

          Standstill Agreement (this “Agreement”), dated as of January ___, 2010, by and among Madison
Square Garden, Inc., a Delaware corporation (the “Company”), each of the members of the Dolan
Family Group listed on Schedule I to this Agreement (the “Dolan Family Parties”) and, as and to the
extent provided herein, their transferees, successors and assigns.

WITNESSETH:

          WHEREAS, as of the date of this Agreement, the Dolan Family Parties own all of the outstanding
shares of Cablevision NY Group Class B Common Stock, par value $.01 per share (“Cablevision Class B
Common Stock”), and also own shares of Cablevision NY Group Class A Common Stock, par value $.01
per share (“Cablevision Class A Common Stock”);

          WHEREAS, Cablevision intends to distribute (the “Distribution”) to the holders of Cablevision
Class A Common Stock all of the outstanding shares of the Company’s Class A Common Stock, $.01 par
value (the “Class A Common Stock”), and to the holders of Cablevision Class B Common Stock all of
the outstanding shares of the Company’s Class B Common Stock, $.01 par value (the “Class B Common
Stock” and, together with the Class A Common Stock, the “Common Stock”); and

          WHEREAS, the Company and the Dolan Family Parties wish to provide for certain restrictions
that will be applicable to the Dolan Family Parties following the Distribution, all as provided
herein.

 

 

          NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein,
the parties hereby agree as follows:

               1. Standstill Agreement.

          During the 12-month period beginning on the date the Distribution is consummated (the
“Distribution Date”), the Dolan Family Parties shall obtain the prior approval of a majority of the
Company’s Independent Directors prior to acquiring Common Stock of the Company through a tender
offer that results in members of the Dolan Family Group beneficially owning more than 50% of the
total number of outstanding shares of Common Stock of the Company. For purposes of this Standstill
Agreement, the term “Independent Directors” means the directors of the Company who have been
determined by the Company’s Board of Directors to be independent directors for purposes of the
NASDAQ corporate governance standards.

               2. Transfers and Related Matters.

          (a) Transfers. Each Dolan Family Party agrees that if at any time or from time to
time prior to the first anniversary of the Distribution Date it desires to sell, transfer or
otherwise dispose of, directly or indirectly (including any transfer of equity or beneficial
interests in an entity that is a Dolan Family Party or any other entity to which shares of Class B
Common Stock may have been transferred, directly or indirectly) (a “Transfer”), any or all of its
shares of Class B Common Stock to any Dolan Person (as defined below) who is not a Dolan Family
Party, such Dolan Family Party shall, prior to the consummation of such Transfer, cause the
transferee to execute a joinder agreement in the form attached hereto as Exhibit A (a
“Joinder”), pursuant to which such transferee shall agree to be bound by the

2

 

provisions of this Standstill Agreement as a Dolan Family Party. In addition, if prior to the
first anniversary of the Distribution Date, any person becomes a member of the Dolan Family Group,
the Dolan Family Parties shall cause such person to execute a Joinder. “Dolan Person” means any
individual who is a member of the “immediate family” (as defined in Rule 16a-1(e) under the
Securities Exchange Act of 1934, as amended) of a Dolan Family Party; an entity that controls, is
controlled by, or is under common control with, a Dolan Family Party; or a trust or estate in which
a Dolan Family Party has an interest (including as a trustee or beneficiary).

          (b) Legends. The Company may, at its election, require that any certificate
representing shares of Class B Common Stock that are covered by this Standstill Agreement and that
are issued prior to the first anniversary of the Distribution Date shall have endorsed thereon a
legend which shall read substantially as follows:

“The shares represented by this certificate are held subject to the
terms of a certain Standstill Agreement, dated January ___, 2010, by
and among Madison Square Garden, Inc. and the Dolan Family Group,
as amended from time to time, a copy of which is on file with the
Secretary of Madison Square Garden, Inc., and such shares may not
be sold, transferred or otherwise disposed of, directly or
indirectly, except in accordance with the terms of such Standstill
Agreement.”

Following the first anniversary of the Distribution Date, any stockholder may require the Company
to remove the foregoing legend from any of such stockholder’s share certificates promptly
after the surrender of any such certificate for such purpose.

               3. Miscellaneous.

3

 

          (a) Specific Performance. The Company and each Dolan Family Party acknowledge that
it will be impossible to measure in money the damage to a party hereto if another party fails to
comply with any of the obligations imposed by this Standstill Agreement, that every such
obligation herein is material and that, in the event of any such failure, the non-breaching party
will not have an adequate remedy at law or in damages. Accordingly, each party hereto consents
to the issuance of an injunction or the enforcement of other equitable remedies against it
without bond or other security, to compel performance by such party of all the terms hereof, and
waives any defenses of (i) failure of consideration, (ii) breach of any other provision of this
Agreement and (iii) availability of relief in damages.

          (b) Amendments. This Standstill Agreement may not be amended, modified or altered
except by a writing duly signed by the party against which such amendment or modification is
sought to be enforced and with the consent of a majority of the Independent Directors.

          (c) Successors and Assigns. This Standstill Agreement shall be binding upon and
inure to the benefit of the Company, the Dolan Family Parties and the respective successors and
permitted assigns of the Company and the Dolan Family Parties. This Standstill Agreement may not
be assigned by either the Company or a Dolan Family Party without the prior written consent of
the other party hereto. The Company shall assign its rights and obligations hereunder (and no
consent thereto shall be required under this Section 3(c)) to any entity that succeeds to all or
substantially all of its assets, by merger or otherwise, including to any holding company that
may be formed to be the parent of the

4

 

Company, if such entity becomes the issuer of the securities then owned by the Dolan Family
Parties.

          (d) Termination. This Agreement shall terminate on the first anniversary of the
date hereof, but a termination shall not affect any rights accrued prior to such termination.

          (e) Counterparts. This Standstill Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, and all of which together shall
constitute one and the same instrument.

          (f) Headings. The headings in this Standstill Agreement are for reference purposes
only and shall not constitute a part hereof.

          (g) Construction. This Standstill Agreement shall be governed by, and construed in
accordance with, the internal laws of the State of New York without giving any effect to
principles of conflicts of laws.

          (h) Notices. All notices hereunder shall be in writing and shall be deemed to have
been given at the time when mailed by certified mail, addressed to the address below stated of
the party to which notice is given, or to such changed address as such party may have fixed by
notice:

To the Company:

Madison Square Garden, Inc.

Two Pennsylvania Plaza

New York, NY 10022

Attn: General Counsel

5

 

To a Dolan Family Party:

c/o Brian G. Sweeney

Cablevision Systems Corporation

1111 Stewart Avenue

Bethpage, NY 11714

With copies to (which shall not constitute notice):

William A. Frewin, Jr.

340 Crossways Park Drive

Woodbury, New York 11797

And

Debevoise & Plimpton LLP

919 Third Avenue

New York, New York 10022

Attention: Richard D. Bohm

provided, however, that any notice of change of address shall be effective only
upon receipt.

          (i) Severability. If any provision of this Standstill Agreement or the application
of any provision hereof to any person or circumstance is held invalid, the remainder of this
Standstill Agreement and the application of such provision to other persons or circumstances
shall not be affected unless the provision held invalid shall substantially impair the benefits
of the remaining portions of this Standstill Agreement.

          (j) Entire Agreement. This Standstill Agreement is intended by the parties as a
final expression of their agreement and is intended to be a complete and exclusive statement of
the agreement and understanding of the parties hereto in respect of the subject matter contained
herein. There are no restrictions, promises, warranties or undertakings, other than those set
forth or referred to herein. This Agreement supersedes

6

 

all prior agreements and understandings between the parties with respect to such subject
matter.

          (k) Attorneys’ Fees. In any action or proceeding brought to enforce any provision
of this Agreement, or where any provision hereof is validly asserted as a defense, the successful
party shall be entitled to recover reasonable attorneys’ fees in addition to any other available
remedy.

7

 

          IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first
written above.

	 	 	 	 	 
	 	 	MADISON SQUARE GARDEN, INC.
	 
	 	 	 	 
	 

	 	By:
	 	 
	 

	 	 	 	 
	 

	 	Title:	 	 

      

CHARLES F. DOLAN, individually, and as Trustee of
the Charles F. Dolan 2009 Revocable Trust, the
Charles F. Dolan 2008 Grantor Retained Annuity
Trust #2, the Charles F. Dolan 2009 Grantor
Retained Annuity Trust #1, the Charles F. Dolan 2009
Grantor Retained Annuity Trust #2, the Charles F.
Dolan 2009 Grantor Retained Annuity Trust #3 and
the Charles F. Dolan 2010 Grantor Retained Annuity
Trust #1

 

Charles F. Dolan

HELEN A. DOLAN, individually, and as Trustee of the
Helen A. Dolan 2009 Revocable Trust, the Helen A.
Dolan 2009 Grantor Retained Annuity Trust #1, the
Helen A. Dolan 2009 Grantor Retained Annuity Trust
#2 and the Helen A. Dolan 2010 Grantor Retained
Annuity Trust #1

 

Helen A. Dolan

JAMES L. DOLAN, individually

 

James L. Dolan

[Signature Page to Standstill Agreement]

 

 

      

THOMAS C. DOLAN, individually

 

Thomas C. Dolan

PATRICK F. DOLAN, individually

 

Patrick F. Dolan

MARIANNE DOLAN WEBER, individually

 

Marianne Dolan Weber

DEBORAH A. DOLAN-SWEENEY, individually

 

Deborah A. Dolan-Sweeney

KATHLEEN M. DOLAN, individually, and as a Trustee
of the Charles F. Dolan Children Trusts FBO
Kathleen M. Dolan, Deborah A. Dolan-Sweeney,
Marianne Dolan Weber, Patrick F. Dolan, Thomas C.
Dolan and James L. Dolan, and as Trustee of the
Charles Dolan 1989 Trust, the Ryan Dolan 1989 Trust
and the Tara Dolan 1989 Trust

 

Kathleen M. Dolan

 

 

      

LAWRENCE J. DOLAN, not individually, but as a
Trustee of the Charles F. Dolan 2009 Family Trusts

 

Lawrence J. Dolan

DAVID M. DOLAN, not individually, but as a Trustee
of the Charles F. Dolan 2009 Family Trusts

 

David M. Dolan

PAUL J. DOLAN, not individually, but as a Trustee of
the Charles F. Dolan Children Trust FBO Kathleen M.
Dolan and the Charles F. Dolan Children Trust FBO
James L. Dolan

 

Paul J. Dolan

MATTHEW J. DOLAN, not individually, but as a
Trustee of the Charles F. Dolan Children Trusts FBO
Marianne Dolan Weber and the Charles F. Dolan
Children Trust FBO Thomas C. Dolan

 

Matthew J. Dolan

 

 

      

MARY S. DOLAN, not individually, but as a Trustee
of the Charles F. Dolan Children Trust FBO Deborah
A. Dolan-Sweeney and the Charles F. Dolan Children
Trust FBO Patrick F. Dolan

 

Mary S. Dolan

 

 

SCHEDULE I

DOLAN FAMILY PARTIES

      

Charles F. Dolan, individually and as

     Trustee of the Charles F. Dolan

     2009 Revocable Trust and existing

     and future Grantor Retained

     Annuity Trusts for his benefit

Helen A. Dolan, individually and as

     Trustee of the Helen A. Dolan

     2009 Revocable Trust and existing

     and future Grantor Retained

     Annuity Trusts for her benefit

Charles F. Dolan Children Trust FBO

     Kathleen M. Dolan

Charles F. Dolan Children Trust FBO

     Deborah A. Dolan-Sweeney

Charles F. Dolan Children Trust FBO

     Marianne Dolan Weber

Charles F. Dolan Children Trust FBO

     Patrick F. Dolan

Charles F. Dolan Children Trust FBO

     Thomas C. Dolan

Charles F. Dolan Children Trust FBO

     James L. Dolan

Charles F. Dolan 2009 Family Trusts

Tara Dolan 1989 Trust

Charles Dolan 1989 Trust

Ryan Dolan 1989 Trust

 

 

EXHIBIT A

FORM OF JOINDER

STANDSTILL JOINDER AGREEMENT

     Reference is made to the Standstill Agreement, dated January ___, 2010, by and among Madison
Square Garden, Inc. and the Dolan Family Group (as amended from time to time, the “Standstill
Agreement”).

     The undersigned hereby agrees to be bound by the provisions of the Standstill Agreement as a
Dolan Family Party (as defined in the Standstill Agreement).

      

 

Name: [                    ]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]