Document:

Tax Sharing Agreement

 Exhibit 10.9 
 EXECUTION COPY 
 TAX SHARING AGREEMENT 
 This Tax Sharing Agreement (this “Agreement”) is entered into as of November 17, 2006 between Verizon Communications Inc., a Delaware
corporation (“Verizon”), and Idearc Inc., a Delaware corporation and wholly owned subsidiary of Verizon (“Spinco” and together with Verizon, the “Parties”). Capitalized terms used in this Agreement and not otherwise
defined herein shall have the meanings ascribed to such terms in the Distribution Agreement, dated as of November 13, 2006, between Verizon and Spinco (the “Distribution Agreement”). 
 RECITALS 
 Whereas, Verizon is the common
parent corporation of an affiliated group of corporations within the meaning of Section 1504(a) of the Internal Revenue Code of 1986, as amended (the “Code”), that has filed consolidated federal income tax returns. 
 Whereas, Spinco is a newly-formed, wholly owned subsidiary of Verizon. 
 Whereas, pursuant to the Distribution Agreement, among other things, Verizon will transfer to Spinco all of the Spinco Assets, Spinco will assume all of the Spinco Liabilities, and Spinco will issue to Verizon shares
of Spinco Common Stock and the Spinco Exchange Debt and will pay to Verizon the Special Distribution (collectively, the “Contribution”). 
 Whereas, on the Distribution Date, Verizon will distribute all of the issued and outstanding shares of Spinco Common Stock on a pro rata basis to holders of Verizon Common Stock (the “Distribution”). 
 Whereas, the Parties intend that the Contribution, together with the Distribution and the Debt Exchange, qualifies as a reorganization under
Section 368 of the Code. 
 Whereas, the Parties desire to set forth their rights and obligations with respect to Taxes (as defined
herein) due for periods before and after the Distribution Date. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: 
 ARTICLE I. DEFINITIONS 
 1.01 GENERAL. As used in this Agreement, the following terms shall have the following meanings: 
 “Affiliate” shall have the meaning set forth in the Distribution Agreement. 

 “Agreement” shall have the meaning set forth in the preamble to this Agreement. 
 “Code” shall have the meaning set forth in the recitals. 
 “Contribution” shall have the meaning set forth in the recitals. 
 “Credit Agreement” shall mean the Credit Agreement dated as
of November 17, 2006, among Spinco, the Lenders (as defined therein) and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent for such lenders. 
 “Debt Exchange” shall have the meaning set forth in the Distribution Agreement. 
 “Directories” shall
have the meaning set forth in the Ruling Request. 
 “Dispute” shall have the meaning set forth in Article VIII. 
 “Distribution” shall have the meaning set forth in the recitals. 
 “Distribution Agreement” shall have the meaning set forth in the preamble to this Agreement. 
 “Distribution Date” shall mean
the date on which the Distribution shall become effective. 
 “Final Determination” shall mean a determination within the meaning of
Section 1313 of the Code or any similar provision of state or local Tax law. 
 “Governmental Authority” shall have the meaning set forth in
the Distribution Agreement. 
 “Indemnifiable Losses” shall have the meaning set forth in the Distribution Agreement. 
 “Indenture” shall mean the Indenture dated as of November 17, 2006, among Spinco, the initial Subsidiary Guarantors (as defined therein) and U.S. Bank
National Association, as Trustee. 
 “Parties” shall have the meaning set forth in the preamble to this Agreement. 
 “Person” shall have the meaning set forth in the Distribution Agreement. 
 “Post-Distribution Period” shall mean any taxable year or other taxable period beginning after the Distribution Date and, in the case of any taxable year or other taxable period that begins before and ends after the Distribution
Date, that part of the taxable year or other taxable period that begins at the beginning of the day after the Distribution Date. 
 “Pre-Distribution
Period” shall mean any taxable year or other taxable period that ends on or before the Distribution Date and, in the case of any taxable year or other taxable period that begins before and ends after the Distribution Date, that part of the
taxable year or other taxable period through the close of the Distribution Date. 
 “Preliminary Restructuring” shall have the meaning set forth in
the Distribution Agreement. 
 “Prohibited Acts” shall have the meaning set forth in Section 3.02. 
  

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 “Ruling” shall have the meaning set forth in Section 2.01(b). 
 “Ruling Request” shall mean the request for rulings submitted by Verizon to the Internal Revenue Service on June 14, 2006, including the exhibits attached
thereto, and all related supplements. 
 “Sales East” shall have the meaning set forth in the Ruling Request. 
 “Senior Notes” shall mean the Senior Notes issued under the Indenture. 
 “Special Distribution” shall have the meaning set forth in the Distribution Agreement. 
 “Spinco” shall have the meaning set
forth in the preamble to this Agreement. 
 “Spinco Assets” shall have the meaning set forth in the Distribution Agreement. 
 “Spinco Business” shall have the meaning set forth in the Distribution Agreement. 
 “Spinco Common Stock” shall have the meaning set forth in the Distribution Agreement. 
 “Spinco Exchange
Debt” shall have the meaning set forth in the Distribution Agreement. 
 “Spinco Filed Tax Return” shall have the meaning set forth in
Section 2.01(b). 
 “Spinco Group” shall have the meaning set forth in the Distribution Agreement. 
 “Spinco Liabilities” shall have the meaning set forth in the Distribution Agreement. 
 “Spinco Taxes” shall have the meaning set forth in Section 2.03(a). 
 “Subsidiary” shall have the
meaning set forth in the Distribution Agreement. 
 “Taxes” shall mean (i) all taxes, charges, fees, duties, levies, imposts, rates or other
assessments or governmental charges of any kind imposed by any federal, state, local or foreign Governmental Authority, including, without limitation, income, gross receipts, employment, excise, severance, stamp, occupation, premium, windfall
profits, environmental, custom duties, property, sales, use, license, capital stock, transfer, franchise, registration, payroll, withholding, social security, unemployment, disability, value added, alternative or add-on minimum or other taxes,
whether disputed or not, and including any interest, penalties, charges or additions attributable thereto, (ii) liability for the payment of any amount of the type described in clause (i) above arising as a result of being (or having been)
a member of any group or being (or having been) included or required to be included in any Tax Return related thereto, and (iii) liability for the payment of any amount of the type described in clauses (i) or (ii) above as a result of
any express or implied obligation to indemnify or otherwise assume or succeed to the liability of any other Person. 
 “Tax Advisor” shall have the
meaning set forth in Article VIII. 
  

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 “Tax Benefit” shall mean the sum of the amount by which the Tax liability of a corporation or affiliated group
(within the meaning of Section 1504(a) of the Code) or other relevant group of corporations to the appropriate Governmental Authority is reduced (including by deduction, entitlement to refund, credit or otherwise, whether available in the
current taxable year, as an adjustment to taxable income in any other taxable year or as a carryforward or carryback, as applicable) plus any interest from such Governmental Authority relating to such Tax liability. 
 “Tax Certificates” shall mean certificates of officers of Verizon and Spinco, dated as of November 17, 2006, provided to Verizon’s counsel in
connection with the Tax Opinion. 
 “Tax Contest” shall have the meaning set forth in Section 5.01. 
 “Tax Information Packages” shall mean any information required in order to prepare and file any Verizon Filed Tax Return. 
 “Tax Materials” shall have the meaning set forth in Section 3.01(a). 
 “Tax Opinion” shall mean the written opinion of Skadden, Arps, Slate, Meagher & Flom LLP, dated as of November 17, 2006, regarding certain United States federal income tax consequences of the Preliminary
Restructuring, the Distribution, the Debt Exchange and other transactions associated therewith as described in the Ruling or the Distribution Agreement. 
 “Tax Return” shall mean any return, report, certificate, form or similar statement or document (including any related supporting information or schedule attached thereto and any information return, amended tax return, claim for
refund or declaration of estimated tax) required to be supplied to, or filed with, a Governmental Authority or any bill for or notice related to ad valorem or other similar Taxes received from a Governmental Authority, in each case, in connection
with the determination, assessment or collection of any Tax or the administration of any laws, regulations or administrative requirements relating to any Tax. 
 “Tranche B Term Loan” shall have the meaning set forth in the Credit Agreement. 
 “Transaction Agreements” shall have the
meaning set forth in the Distribution Agreement. 
 “Verizon” shall have the meaning set forth in the preamble to this Agreement. 
 “Verizon Filed Tax Return” shall have the meaning set forth in Section 2.01(a). 
 “Verizon Group” shall have the meaning set forth in the Distribution Agreement. 
 “Verizon Taxes” shall
have the meaning set forth in Section 2.03(b). 
 “VIS” shall have the meaning set forth in the Credit Agreement. 
 1.02 INTERPRETATION. For all purposes of this Agreement: (i) the terms defined in this Agreement include the plural as well as the singular;
(ii) all references in this Agreement to “Preamble”, “Recitals”, “Articles”, “Sections” and other subdivisions are to the designated Preamble, Recitals, Articles, Sections and other subdivisions of the
body of this Agreement; (iii)

  

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pronouns of either gender or neuter include, as appropriate, the other pronoun forms; (iv) the words “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision; (v) “or” is not exclusive; (vi) “including” shall be deemed to
be followed by “but not limited to”; and (vii) any definition of or reference to any statute shall be construed as referring also to any rules and regulations promulgated thereunder. 
 ARTICLE II. 
 TAX RETURNS AND TAX PAYMENTS

 2.01 OBLIGATIONS TO FILE TAX RETURNS. 
 (a) Verizon shall have the sole and exclusive responsibility for the preparation and filing of each Tax Return that (1) includes any member of the Verizon Group or the Spinco Group and that is required to be
filed before or on the Distribution Date or (2) includes any member of the Verizon Group and that is required to be filed after the Distribution Date (each, a “Verizon Filed Tax Return”); provided, however, that (x) Spinco shall
promptly prepare and deliver to Verizon in a manner consistent with past practices pro forma Tax Returns and Tax Information Packages for any taxable period in which any member of the Spinco Group is included in, or any portion of the Spinco
Business is reflected on, a Verizon Filed Tax Return, (y) Verizon shall provide to Spinco sufficiently in advance of the due date for the filing thereof, and Spinco shall have a reasonable opportunity to review and comment on, any such Verizon
Filed Tax Return (or the relevant portion thereof) to the extent that Spinco is responsible for any portion of the Taxes reported on such Verizon Filed Tax Return, and (z) in the case of any Verizon Filed Tax Return that includes any member of
the Spinco Group or the Spinco Business only for the portion of the relevant taxable period that ends on the Distribution Date, Taxes shall be allocated to the portion of such taxable period that ends on the Distribution Date based on an actual or
hypothetical closing of the books at the close of the Distribution Date. Each member of the Spinco Group hereby irrevocably authorizes and designates Verizon as its agent, coordinator and administrator for the purpose of taking any and all actions
necessary or incidental to the filing of any such Verizon Filed Tax Returns and, except as otherwise provided herein, for the purpose of making payments to, or collecting refunds from, any Governmental Authority in respect of a Verizon Filed Tax
Return. Except as otherwise provided herein, Verizon shall have the exclusive right to file, prosecute, compromise or settle any claim for, or refund of, Taxes in respect of a Verizon Filed Tax Return for which Verizon bears responsibility hereunder
and to determine whether any refunds of Taxes to which the Verizon Group may be entitled shall be received by way of refund or credit against the Tax liability of the Verizon Group. 
 (b) Spinco shall have the sole and exclusive responsibility for the preparation and filing of each Tax Return that is required to be filed
after the Distribution Date that includes any member of the Spinco Group or otherwise relates to the Spinco Business that is not a Verizon Filed Tax Return (each, a “Spinco Filed Tax Return”); provided, however, that, except as otherwise
required by law, (1) all Spinco Filed Tax Returns shall be prepared on a basis that is consistent with the Tax Opinion and the private letter ruling with respect to, among other things, the Contribution, the Distribution and the Debt Exchange
received by Verizon on September 25, 2006 (the “Ruling”) and consistent with past practices of Verizon, (2) Spinco shall provide to 

  

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Verizon sufficiently in advance of the due date for the filing thereof, and Verizon shall have a reasonable opportunity to review and comment on, any such
Spinco Filed Tax Return (or the relevant portion thereof) to the extent that (x) Verizon is responsible for any portion of the Taxes reported on such Spinco Filed Tax Return or (y) such Spinco Filed Tax Return is a Tax Return of Sales East
and (3) in the case of any Spinco Filed Tax Return that includes any member of the Spinco Group or the Spinco Business only for the portion of the relevant taxable period that begins after the Distribution Date, Taxes shall be allocated to the
portion of such taxable period that begins after the Distribution Date based on an actual or hypothetical closing of the books at the close of the Distribution Date. 
 2.02 OBLIGATION TO REMIT TAXES. Subject to Section 2.01 and subject always to the ultimate division of responsibility for Taxes set out in Section 2.03, Verizon and Spinco shall each remit or cause to be
remitted to the applicable Governmental Authority in a timely manner any Taxes due in respect of any Tax Return that such Party is required to file (or, in the case of a Tax for which no Tax Return is required to be filed, which is otherwise payable
by such Party or a member of such Party’s group (the Verizon Group or the Spinco Group) to any Governmental Authority); provided, however, that in the case of any Tax Return, the Party not required to file such Tax Return shall remit to the
Party required to file such Tax Return in immediately available funds the amount of any Taxes reflected on such Tax Return for which the former Party is responsible hereunder at least two (2) Business Days before payment of the relevant amount
is due to a Governmental Authority. 
 2.03 TAX SHARING OBLIGATIONS AND PRIOR AGREEMENTS. 
 (a) Spinco and the members of the Spinco Group shall be responsible for the payment of (and shall be entitled to any refund of or credit
for) all Taxes (i) that are attributable to any member of the Spinco Group or the Spinco Business for any taxable period, including, for purposes of clarification, any taxable period that ended prior to the Distribution Date, as determined in
accordance with Schedule A, (ii) resulting from the Preliminary Restructuring, the Distribution, the Debt Exchange or any transaction associated therewith as described in the Ruling or the Distribution Agreement, to the extent that such Taxes
arise as a result of any action taken by Spinco or any member of the Spinco Group following the Distribution (other than, in the case of the Tranche B Term Loan, the repayment thereof prior to the stated maturity in accordance with
Section 2.10(b) of the Credit Agreement), or (iii) resulting from any breach of or inaccuracy in any representation, covenant or obligation of any member of the Spinco Group under this Agreement (collectively, “Spinco Taxes”).

 (b) Verizon and the members of the Verizon Group shall be responsible for the payment of (and shall be entitled to any
refund of or credit for) all Taxes attributable to any member of the Verizon Group or any member of the Spinco Group that are not Spinco Taxes (collectively, “Verizon Taxes”). 
 (c) Notwithstanding anything else to the contrary contained herein or in any other Transaction Agreement and notwithstanding whether any
such Tax Benefits are realized on Verizon Filed Tax Returns or Spinco Filed Tax Returns, the Parties agree to allocate the Tax Benefits set forth on Schedule B in accordance therewith. 
  

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 (d) Except as set forth in this Agreement and in consideration of the mutual indemnities
and other obligations of this Agreement, any and all prior Tax sharing or allocation agreements or practices between any member of the Verizon Group and any member of the Spinco Group shall be terminated with respect to the Spinco Group as of the
Distribution Date, and no member of the Spinco Group shall have any continuing rights or obligations thereunder. 
 2.04 AMENDED RETURNS.
Spinco shall not, and shall not permit any member of the Spinco Group to, file any amended Tax Return that includes any member of the Verizon Group. 
 ARTICLE III. 
 REPRESENTATIONS AND COVENANTS 
 3.01 COMPLIANCE WITH THE RULING AND TAX OPINION. 
 (a) Verizon (on behalf of itself and all
other members of the Verizon Group) hereby represents and warrants that (i) it has examined (A) the Ruling, (B) the Tax Opinion, (C) the Ruling Request, (D) the Tax Certificates and (E) any other materials delivered or
deliverable in connection with the issuance of the Ruling and the rendering of the Tax Opinion (collectively, the “Tax Materials”) and (ii) the facts presented and representations made therein, to the extent descriptive of or
otherwise relating to Verizon or any member of the Verizon Group, are or will be from the time presented or made through and including the Distribution Date true, correct and complete in all material respects. Verizon (on behalf of itself and all
other members of the Verizon Group) hereby confirms and agrees to comply with any and all covenants and agreements in the Tax Material applicable to Verizon or any member of the Verizon Group. 
 (b) Spinco (on behalf of itself and all other members of the Spinco Group) hereby represents and warrants that (i) it has examined
the Tax Materials and (ii) the facts presented and representations made therein, to the extent descriptive of or otherwise relating to Spinco or any member of the Spinco Group, are or will be from the time presented or made through and
including the Distribution Date true, correct and complete in all material respects. Spinco (on behalf of itself and all other members of the Spinco Group) hereby confirms and agrees to comply with any and all covenants and agreements in the Tax
Material applicable to Spinco or any member of the Spinco Group. 
 3.02 OPINION REQUIREMENT FOR MAJOR TRANSACTIONS. Spinco
(on behalf of itself and all other members of the Spinco Group) hereby confirms and agrees that no member of the Spinco Group will take or permit to be taken within 2 years of the Distribution the following actions: (i) the issuance of any
Spinco equity or rights to acquire any Spinco equity (other than any such issuance qualifying under a Treas. Reg. § 1.355-7(d) “safe harbor” such as an issuance in connection with the performance of services within the meaning of
Treas. Reg. 1.355-7(d)(8)); (ii) redemptions or repurchases of any Spinco equity (except to the extent consistent with the requirements of Rev. Proc. 96-30), (iii) recapitalizations or other dispositions of, or modifications to the terms
of, any Spinco equity; (iv) any liquidation, merger or consolidation involving Spinco, VIS or Directories (including, for purposes of clarification, the conversion of Spinco or Directories into a limited liability company or the conversion of
VIS 

  

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into a corporation); (v) any sale of all or substantially all of Spinco’s assets in a single transaction or series of related transactions;
(vi) the disposition or discontinuance of the operation of any active trade or business assets except in the ordinary course of business; (vii) entering into any negotiations, agreements or arrangements that may cause the Distribution to
be treated as part of a plan or series of related transactions pursuant to which one or more persons acquire directly or indirectly stock of Spinco representing a “50-percent or greater interest” therein within the meaning of
Section 355(d)(4) of the Code; or (viii) the taking of actions or positions inconsistent with any representation or covenant of Spinco or any member of the Spinco Group contained in Section 3.01(b) or Section 6.02 of this
Agreement (collectively, the “Prohibited Acts”). Notwithstanding the foregoing, Spinco or a member of the Spinco Group may take any of the Prohibited Acts, subject to, and without limiting or modifying, Spinco’s continuing
indemnification obligation under Section 4.01(b), if Spinco obtains (x) the written consent of Verizon (which consent may be given or withheld in Verizon’s sole discretion) or (y) a supplemental ruling from the Internal Revenue
Service or an opinion of a nationally recognized law firm, in form and substance reasonably satisfactory to Verizon, that the taking of such action will not adversely affect, directly or indirectly, any of the conclusions contained in the Ruling or
the Tax Opinion. 
 3.03 ADDITIONAL SPINCO COVENANTS. Notwithstanding anything else to the contrary contained in this Agreement or any other
agreement, Spinco (on behalf of itself and all other members of the Spinco Group) hereby confirms and agrees that (i) neither Spinco nor any member of the Spinco Group will, directly or indirectly, pre-pay, pay down, redeem, retire or otherwise
acquire, however effected, any of the Senior Notes or the Tranche B Term Loan prior to its stated maturity, (ii) neither Spinco nor any member of the Spinco Group will take or permit to be taken any action at any time, including, without
limitation, any modification to the terms of any of the Senior Notes or the Tranche B Term Loan, that could jeopardize, directly or indirectly, the qualification, in whole or in part, of any of the Senior Notes or the Tranche B Term Loan as
“securities” within the meaning of Section 361(a) of the Code, (iii) no issuance of stock by Spinco, any member of the Spinco Group, or any Affiliates thereof and no change in the stock ownership of any such entities will occur
that could cause Section 355(d) or Section 355(e) of the Code to apply to the Distribution, and (iv) neither Spinco nor any member of the Spinco Group will take or permit to be taken any action at any time that could jeopardize,
directly or indirectly, any of the conclusions contained in the Ruling or the Tax Opinion. Notwithstanding the foregoing, Spinco or a member of the Spinco Group may take or permit to be taken any of the actions described in this Section 3.03,
subject to, and without limiting or modifying, Spinco’s continuing indemnification obligation under Section 4.01(b), if (x) failure to take such action would violate the Credit Agreement, the Indenture or any of the documents entered
into in connection therewith (each as executed as of the Distribution Date), (y) Spinco obtains the written consent of Verizon (which consent may be given or withheld in Verizon’s sole discretion) or (z) Spinco obtains a supplemental
ruling from the Internal Revenue Service or an opinion of a nationally recognized law firm, in form and substance reasonably satisfactory to Verizon, that the taking of such action will not adversely affect, directly or indirectly, any of the
conclusions contained in the Ruling or the Tax Opinion. 
 3.04 VERIZON COVENANTS. Notwithstanding anything else to the contrary contained in
this Agreement or any other agreement, Verizon (on behalf of itself and all other members of the Verizon Group) hereby confirms and agrees that neither Verizon nor any 

  

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member of the Verizon Group will take or permit to be taken any action at any time that could jeopardize, directly or indirectly, any of the conclusions
contained in the Ruling or the Tax Opinion. 
 ARTICLE IV. 
 INDEMNITY OBLIGATIONS AND PAYMENTS 
 4.01 INDEMNITY OBLIGATIONS. 
 (a) Verizon shall indemnify and hold harmless Spinco from and against, and will reimburse Spinco for (i) all Verizon Taxes and
(ii) all Taxes and Indemnifiable Losses arising out of, based upon or relating or attributable to any breach of or inaccuracy in any representation, covenant or obligation of any member of the Verizon Group under this Agreement. 
 (b) Notwithstanding whether any action is permitted or consented to hereunder and notwithstanding anything else to the contrary contained
herein, Spinco shall indemnify and hold harmless Verizon from and against, and will reimburse Verizon for (i) all Spinco Taxes and (ii) all Taxes and Indemnifiable Losses arising out of, based upon or relating or attributable to
(x) any breach of or inaccuracy in any representation, covenant or obligation of any member of the Spinco Group under this Agreement or (y) the Preliminary Restructuring, the Distribution, the Debt Exchange or any transaction associated
therewith as described in the Ruling or the Distribution Agreement, to the extent such Taxes or Indemnifiable Losses arise as a result of any action taken by Spinco or any member of the Spinco Group following the Distribution (other than, in the
case of the Tranche B Term Loan, the repayment thereof prior to the stated maturity in accordance with Section 2.10(b) of the Credit Agreement). 
 4.02 NOTICE. The Parties shall give each other prompt written notice of any payment that may be due to the provider of such notice under this Agreement. 
 4.03 TREATMENT OF PAYMENTS. The Parties agree that any payment made between the Parties pursuant to this Agreement or any other Transaction Agreement
with respect to a Pre-Distribution Period or as a result of an event or action occurring in a Pre-Distribution Period shall be treated, to the extent permitted by law, for all Tax purposes as a nontaxable payment (i.e., a distribution or a capital
contribution) made immediately prior to the Distribution. 
 ARTICLE V. 
 TAX CONTESTS 
 5.01 NOTICE. Verizon shall promptly notify Spinco in writing upon
receipt by Verizon or any member of the Verizon Group of a written communication from any Governmental Authority with respect to any pending or threatened audit, dispute, suit, action, proposed assessment or other proceeding (a “Tax
Contest”) concerning any Taxes for which Spinco may be liable under this Agreement. Spinco shall promptly notify Verizon in writing upon receipt by Spinco or any member of the Spinco Group of a written communication from 

  

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any Governmental Authority with respect to any Tax Contest concerning any Taxes for which Verizon may be liable under this Agreement. 
 5.02 CONTROL OF CONTESTS BY VERIZON. Verizon shall have the sole responsibility and control over the handling of any Tax Contest, including the exclusive
right to communicate with agents of the Governmental Authority and to control, resolve, settle or agree to any deficiency, claim or adjustment proposed, asserted or assessed in connection with or as a result of any such Tax Contest, involving
(i) any Verizon Filed Tax Return, or (ii) the Preliminary Restructuring, the Distribution, the Debt Exchange or any transaction associated therewith as described in the Ruling or the Distribution Agreement. Subject to Verizon’s
control right, upon request by Spinco, Spinco shall, at Spinco’s expense, be allowed to participate in the handling of any such Tax Contest with respect to any item that may affect the liability of Spinco or any member of the Spinco Group under
this Agreement. Notwithstanding anything else to the contrary contained herein, in the case of any such Tax Contest relating to Taxes for which the potential liability of Spinco or any member of the Spinco Group under this Agreement equals or
exceeds $200,000,000, (a) Verizon shall not settle any such Tax Contest without the consent of Spinco, which consent shall not be unreasonably withheld, conditioned or delayed, and (b) absent a settlement of such Tax Contest pursuant to
subclause (a) above, Verizon shall be required to pursue, at Spinco’s expense, such Tax Contest through one level of appellate judicial review (it being understood that Verizon shall have no obligation to pursue such Tax Contest beyond one
level of appellate judicial review). 
 5.03 CONTROL OF CONTESTS BY SPINCO. Spinco shall have the full responsibility and control over the
handling of any Tax Contest, including the exclusive right to communicate with agents of the Governmental Authority and to control, resolve, settle or agree to any deficiency, claim or adjustment proposed, asserted or assessed in connection with or
as a result of any such Tax Contest, involving any Spinco Filed Tax Return or any item thereon not described in Section 5.02. Subject to Spinco’s control right, upon request by Verizon, Verizon shall, at Verizon’s expense, be allowed
to participate in the handling of any such Tax Contest with respect to any item that may affect the liability of Verizon or any member of the Verizon Group under this Agreement. 
 ARTICLE VI. 
 COOPERATION 
 6.01 GENERAL. Each Party shall fully cooperate, and shall cause all members of such Party’s group (the Verizon Group or the Spinco Group) to fully
cooperate, with the other Party in connection with the preparation and filing of any Tax Return or the conduct of any Tax Contest (including, where appropriate or necessary, providing a power of attorney) concerning any issues or any other matter
contemplated under this Agreement. Each Party shall make its employees and facilities available on a mutually convenient basis to facilitate such cooperation. 
 6.02 CONSISTENT TREATMENT. Unless and until there has been a Final Determination to the contrary, each Party agrees not to take any position on any Tax Return, in connection with any Tax Contest or otherwise that is
inconsistent with (a) the allocation of Taxes 

  

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and Tax Benefits between the Verizon Group and the Spinco Group as set forth in this Agreement, (b) the Ruling or (c) the Tax Opinion. 

ARTICLE VII. 
 RETENTION OF RECORDS; ACCESS

 For so long as the contents thereof may become material in the administration of any matter under applicable Tax law, but in any event
until the later of (i) the expiration of any applicable statutes of limitation and (ii) seven years after the Distribution Date, the Parties shall (a) retain records, documents, accounting data and other information (including
computer data) necessary for the preparation and filing of all Tax Returns in respect of Taxes of any member of either the Verizon Group or the Spinco Group for any Pre-Distribution Period or any Post-Distribution Period or for any Tax Contests
relating to such Tax Returns, and (b) give to the other Party reasonable access to such records, documents, accounting data and other information (including computer data) and to its personnel (insuring their cooperation) and premises, for the
purpose of the review or audit of such Tax Returns to the extent relevant to an obligation or liability of a Party under this Agreement or for purposes of the preparation or filing of any such Tax Return, the conduct of any Tax Contest or any other
matter reasonably and in good faith related to the Tax affairs of the requesting Party. At any time after the Distribution Date that the Verizon Group proposes to destroy such material or information, it shall first notify the Spinco Group in
writing and the Spinco Group shall be entitled to receive such materials or information proposed to be destroyed. At any time after the Distribution Date that the Spinco Group proposes to destroy such material or information, it shall first notify
the Verizon Group in writing and the Verizon Group shall be entitled to receive such materials or information proposed to be destroyed. 
 ARTICLE VIII. 
 DISPUTE RESOLUTION 
 The Parties shall attempt in good faith to resolve any disagreement arising under this Agreement, including any dispute in connection with a claim by a third party (a “Dispute”). Either Party may give the
other Party written notice of any Dispute not resolved in the normal course of business. If such a Dispute is not resolved within sixty (60) days following the date on which one Party gives such notice, the Parties shall jointly retain a
nationally recognized law or accounting firm, reasonably acceptable to the Parties (the “Tax Advisor”), to act as an arbitrator in order to resolve the Dispute. The Tax Advisor’s determination as to any Dispute shall be made in
accordance with the terms of this Agreement and shall be final and binding on the Parties and not subject to collateral attack for any reason (other than manifest error). All fees and expenses of the Tax Advisor shall be shared equally by Verizon,
on the one hand, and Spinco, on the other hand. 
  

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 ARTICLE IX. 
 MISCELLANEOUS PROVISIONS 
 9.01 GOVERNING LAW. This Agreement and the legal relations between the Parties
hereto shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of laws rules thereof to the extent such rules would require the application of the law of another jurisdiction.

 9.02 APPLICATION TO PRESENT AND FUTURE SUBSIDIARIES. This Agreement is being entered into by Verizon and Spinco on behalf of themselves
and the members of their respective groups (the Verizon Group and the Spinco Group). This Agreement shall constitute a direct obligation of each such entity and shall be deemed to have been readopted and affirmed on behalf of any entity that becomes
a Subsidiary of Verizon or Spinco in the future. 
 9.03 FURTHER ASSURANCES. Subject to the provisions hereof, the Parties hereto shall make,
execute, acknowledge and deliver such other instruments and documents, and take all such other actions, as may be reasonably required in order to effectuate the purposes of this Agreement and to consummate the transactions contemplated hereby.

 9.04 SURVIVAL. Notwithstanding any other provision of this Agreement to the contrary, all representations, covenants and obligations
contained in this Agreement shall survive until the expiration of the applicable statute of limitations with respect to any such matter (including extensions thereof). 
 9.05 DISTRIBUTION AGREEMENT. To the extent not inconsistent with any specific term of this Agreement, the provisions of the Distribution Agreement shall apply in relevant part to this Agreement, including Sections 5.5
(Reductions for Insurance Proceeds and Other Amounts), 5.7 (Consequential Damages), 8.1 (Complete Agreement), 8.3 (Interpretation), 8.4 (Notices), 8.5 (Amendments; Waivers), 8.6 (Successors and Assigns; No Third-Party Beneficiaries), 8.7
(Counterparts), 8.8 (Headings), 8.9 (Severability), 8.11 (Terminability), 8.12 (Governing Law; Service of Process; Jurisdiction), 8.13 (Waiver of Jury Trial) and 8.14 (Specific Performance). 
  

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

					
	 VERIZON COMMUNICATIONS INC.

		
	 By:
	 	 /s/ John W. Diercksen

		 	 Name:
	 	 John W. Diercksen

		 	 Title:
	 	 Executive Vice President

  

					
	 IDEARC INC.

		
	 By:
	 	 /s/ Andrew Coticchio

		 	 Name:
	 	 Andrew Coticchio

		 	 Title:
	 	 Executive Vice President, Chief
 Financial Officer and Treasurer

 Schedule A — Allocation Methodology for Section 2.03(a)(i) 
  

	1.	In the case of any Verizon Filed Tax Return filed after the Distribution Date that includes any member of the Spinco Group or reflects any portion of the Spinco Business (other than
any amended Tax Return that relates to a Verizon Filed Tax Return filed on or before the Distribution Date): 

  

	 	•	 	Federal Income Taxes 

  

	 	•	 	Except for (a) any items of income, gain, loss, deduction, credit or any other item which increases or decreases Taxes paid or payable (each, a “Tax Item”) allocated
to Verizon pursuant to Schedule B of this Agreement or (b) any Tax Items resulting from the Preliminary Restructuring, the Distribution, the Debt Exchange or any transaction associated therewith (the Taxes and Tax Benefits resulting from which
shall be allocated between the Parties in accordance with the other provisions of this Agreement), Spinco and the members of the Spinco Group shall be responsible for the payment of (and shall be entitled to any refund of or credit for) all Taxes
calculated as if the Spinco Business filed a single federal income Tax Return for the taxable period (or the portion thereof) for which such Verizon Filed Tax Return reflects the Spinco Business reflecting all Tax Items associated with the Spinco
Business for such period (including any Tax Items for such period allocated to Spinco pursuant to Schedule B of this Agreement); provided, however, that Spinco shall receive credit for any estimated or other Tax payments with respect
to the Spinco Business previously made by Spinco or the members of the Spinco Group to Verizon or to the relevant Governmental Authority with respect to such Verizon Filed Tax Return (it being understood that, for purposes of Verizon’s
consolidated federal income Tax Return for the 2006 Tax year, Spinco shall be deemed to have made estimated Tax payments equal to 35% of the net taxable income reflected on the form K-1 issued by Sales East to BAGW (as defined in the Ruling Request)
with respect to Sales East’s final federal income Tax Return). 

  

	 	•	 	Any Taxes or Tax Benefits resulting from a Tax Contest with respect to any such Verizon Filed Tax Return shall be allocated to the Spinco Business based on the methodology set forth
in the prior bullet. 

  

	 	•	 	State and Local Income Taxes 

  

	 	•	 	 Except for (a) any Tax Items allocated to Verizon pursuant to Schedule B of this Agreement or (b) any Tax Items resulting from the Preliminary
Restructuring, the Distribution, the Debt Exchange or any transaction associated therewith (the Taxes and Tax Benefits resulting from which shall be allocated between the Parties in accordance with the other provisions of this Agreement), Spinco and
the members of the Spinco Group shall be responsible for the payment of (and shall be entitled to any refund of or credit for) all Taxes that are computed with respect to income 

	 	 
or gross receipts including the Washington business and occupation tax, the Ohio commercial activity tax, the New Jersey alternative minimum assessment, the
Kentucky alternative minimum tax, and the Texas franchise tax (collectively, “State and Local Income Taxes”) calculated as if each member of the Spinco Group included on such Verizon Filed Tax Return, and each legal entity that conducted,
directly or indirectly through its ownership of an interest in any partnership or other pass-through entity, any portion of the Spinco Business reflected on such Verizon Filed Tax Return, filed a separate Tax Return for the taxable period (or the
portion thereof) for which such Verizon Filed Tax Return reflects the Spinco Business in the jurisdiction in which such Verizon Filed Tax Return was filed reflecting all Tax Items of such entity associated with the Spinco Business for such period
(including, as appropriate, any Tax Items for such period allocated to Spinco pursuant to Schedule B of this Agreement); provided, however, that Spinco shall receive credit for any estimated or other Tax payments with respect to the
Spinco Business previously made by Spinco or the members of the Spinco Group to Verizon or to the relevant Governmental Authority with respect to such Verizon Filed Tax Return. Notwithstanding the above, Spinco and the members of the Spinco Group
shall only be responsible for the payment of State and Local Income Taxes attributable to the net taxable income reflected on the form K-1 issued by Sales East to BAGW with respect to Sales East’s final federal income Tax Return to the extent
that BAGW is liable for State and Local Income Taxes attributable to such net taxable income. 

  

	 	•	 	Any Taxes or Tax Benefits resulting from a Tax Contest with respect to any such Verizon Filed Tax Return shall be allocated to the Spinco Business based on the methodology set forth
in the prior bullet. 

  

	 	•	 	All Other Taxes 

  

	 	•	 	 Except for (a) any Tax Items allocated to Verizon pursuant to Schedule B of this Agreement or (b) any Tax Items resulting from the Preliminary
Restructuring, the Distribution, the Debt Exchange or any transaction associated therewith (the Taxes and Tax Benefits resulting from which shall be allocated between the Parties in accordance with the other provisions of this Agreement), Spinco and
the members of the Spinco Group shall be responsible for the payment of (and shall be entitled to any refund of or credit for) all Taxes other than federal income Taxes and State and Local Income Taxes calculated as if each member of the Spinco
Group included on such Verizon Filed Tax Return, and each legal entity that conducted any portion of the Spinco Business reflected on such Verizon Filed Tax Return, filed a separate Tax Return for the taxable period (or the portion thereof) for
which such Verizon Filed Tax Return reflects the Spinco Business in the jurisdiction in which such Verizon Filed Tax Return was filed reflecting all Tax Items of such entity associated with the Spinco Business for such period (including, as
appropriate, any Tax Items for such 

	 	 
period allocated to Spinco pursuant to Schedule B of this Agreement); provided, however, that Spinco shall receive credit for any estimated or
other Tax payments with respect to the Spinco Business previously made by Spinco or the members of the Spinco Group to Verizon or to the relevant Governmental Authority with respect to such Verizon Filed Tax Return. 

  

	 	•	 	Any Taxes or Tax Benefits resulting from a Tax Contest with respect to any such Verizon Filed Tax Return shall be allocated to the Spinco Business based on the methodology set forth
in the prior bullet. 

  

	2.	In the case of any Verizon Filed Tax Return filed on or before the Distribution Date (or any amended Tax Return that relates to a Verizon Filed Tax Return filed on or before the
Distribution Date): 

  

	 	•	 	Unless there is a Tax Contest with respect to such Verizon Filed Tax Return, each of Verizon and Spinco shall be deemed to have paid all Taxes reflected on and received all Tax
Benefits with respect to such Verizon Filed Tax Return for which each is liable or entitled pursuant to this Agreement. 

  

	 	•	 	Any Taxes or Tax Benefits resulting from a Tax Contest with respect to any such Verizon Filed Tax Return shall be allocated between the Parties based on the methodology set forth in
Section 1 of this Schedule A. 

  

	3.	In the case of any Spinco Filed Tax Return: 

  

	 	•	 	Spinco and the members of the Spinco Group shall be responsible for the payment of (and shall be entitled to any refund of or credit for) all Taxes reflected thereon except to the
extent such Taxes result from the Preliminary Restructuring, the Distribution, the Debt Exchange or any transaction associated therewith (which Taxes shall be allocated between the Parties in accordance with the other provisions of this Agreement).

  

	 	•	 	Any Taxes or Tax Benefits resulting from a Tax Contest with respect to any such Spinco Filed Tax Return shall be allocated to the Spinco Business based on the methodology set forth
in the prior bullet. 

 Schedule B – Allocation of Certain Tax Benefits 
  

	1.	Debt Expenses 

  

	 	•	 	Verizon and the other members of the Verizon Group shall be entitled to all Tax Benefits resulting from any loss, deduction, credit or other item which decreases Taxes paid or
payable or increases Tax basis (a “Benefit Item”) associated with the Debt Exchange. For purposes of clarification, such Tax Benefits include, without limitation, any Tax Benefits resulting from any issuance costs or issuance expenses
associated with any Spinco Exchange Debt other than out-of-pocket costs and out-of-pocket expenses borne by Spinco. 

  

	 	•	 	Except as set forth in the immediately preceding bullet, Spinco and the other members of the Spinco Group shall be entitled to all Tax Benefits resulting from any Benefit Item
associated with the Senior Notes or the Loans (as defined in the Credit Agreement). For purposes of clarification, such Tax Benefits include, without limitation, any Tax Benefits resulting from any interest payments with respect to the Spinco
Exchange Debt and any interest payments, issuance costs or issuance expenses associated with any Senior Note or Loan that is not Spinco Exchange Debt. 

  

	2.	Compensation Expenses 

  

	 	•	 	Verizon and the other members of the Verizon Group shall be entitled to all Tax Benefits resulting from any Benefit Item associated with any compensation related expense, including
compensation received by a Directories Employee (as defined in the Employee Matters Agreement, dated as of November 17, 2006, by and between Verizon and Spinco) after the Distribution Date, paid by Verizon or any other member of the Verizon
Group. For purposes of clarification, such Tax Benefits include, without limitation, any Tax Benefits resulting from any outstanding Verizon long-term incentive awards (stock options, PSUs and RSUs) of Directories Employees and any deferrals under
Verizon’s non-qualified deferred compensation plans (IDP and EDP) by Directories Employees. 

  

	 	•	 	Spinco and the other members of the Spinco Group shall be entitled to all Tax Benefits resulting from any Benefit Item associated with any compensation related expense, including
compensation received by a Directories Employee after the Distribution Date, paid by Spinco or any other member of the Spinco Group. 

  

	3.	Other Transaction Related Expenses 

  

	 	•	 	 Verizon and the other members of the Verizon Group shall be entitled to all Tax Benefits resulting from any Benefit Item associated with any costs and expenses
economically borne by Verizon or any other member of the Verizon Group in connection with the Preliminary Restructuring, the Distribution or any other transaction associated therewith to the extent such Tax Benefits are not 

	 	 
otherwise allocated to Spinco and the other members of the Spinco Group pursuant to Sections 1 or 2 of this Schedule B. 

  

	 	•	 	Spinco and the other members of the Spinco Group shall be entitled to all Tax Benefits resulting from any Benefit Item associated with any costs and expenses economically borne by
Spinco or any other member of the Spinco Group in connection with the Preliminary Restructuring, the Distribution or any other transaction associated therewith to the extent such Tax Benefits are not otherwise allocated to Verizon and the other
members of the Verizon Group pursuant to Sections 1 or 2 of this Schedule B. 

  

	4.	Reporting of Benefit Items 

  

	 	•	 	Unless and until there has been a Final Determination to the contrary or as otherwise required by law, any Benefit Item relating to Tax Benefits to which Verizon and the other
members of the Verizon Group are entitled pursuant to this Schedule B shall be reported on Verizon Filed Tax Returns as opposed to Spinco Filed Tax Returns, and no Party shall take any position on any Tax Return, in connection with any Tax Contest
or otherwise that is inconsistent therewith. 

  

	 	•	 	Unless and until there has been a Final Determination to the contrary or as otherwise required by law, any Benefit Item relating to Tax Benefits to which Spinco and the other
members of the Spinco Group are entitled pursuant to this Schedule B shall be reported on Spinco Filed Tax Returns as opposed to Verizon Filed Tax Returns, and no Party shall take any position on any Tax Return, in connection with any Tax Contest or
otherwise that is inconsistent therewith. 

  

	5.	Payment for Tax Benefits 

  

	 	•	 	A Party realizing a Tax Benefit to which another Party is entitled pursuant to this Agreement shall pay the amount of such Tax Benefit to such other Party within ten
(10) Business Days after the realization of such Tax Benefit. 

  

	 	•	 	For purposes of this Agreement, a Tax Benefit shall be deemed to have been realized by a Party at the time any refund of Taxes is received or applied against other Taxes due, or at
the time of filing of a Tax Return (including a Tax Return relating to estimated Taxes) on which a Benefit Item is applied in reduction of Taxes which would otherwise be payable, in each case, to the extent such Party is responsible for such Taxes
under this Agreement; provided, however, that, where a Party has other Benefit Items available to it, Benefit Items for which the other Party would be entitled to a payment hereunder shall be treated as the last Benefit Items utilized
to produce a Tax Benefit.Idearc Inc. Long Term Incentive

 Exhibit 10.10 
 IDEARC INC.  
 LONG TERM INCENTIVE PLAN 
 ARTICLE 1 
 GENERAL PLAN INFORMATION

 1.1 Background. The Plan permits the grant to Employees and Non-Employee Directors of cash and equity-based incentive
compensation opportunities, including Restricted Stock, Restricted Stock Units, Performance Shares, Performance Units, Options, and Other Awards such as Stock Appreciation Rights and Cash Incentive Awards. 
 1.2 Objectives. The objectives of the Plan are to optimize the profitability and growth of the Company through long-term incentives that are
consistent with the Company’s goals and that link the interests of Participants to those of the Company’s shareholders; to provide Participants with incentives for excellence in individual performance; to provide flexibility to the Company
in its ability to motivate, attract, and retain the services of Participants who make significant contributions to the Company’s success; and to allow Participants to share in the success of the Company. 
 1.3 Duration of the Plan. The Plan shall be effective at the effective time of the distribution of the Company’s Shares by Verizon
Communications Inc. to the shareholders of Verizon Communications Inc., as described in the Information Statement included with the Registration Statement on the Form 10, as amended, filed by the Company with the Securities Exchange Commission on
November 1, 2006. The Plan shall remain in effect, subject to the right of the Committee to amend or terminate the Plan at any time, until there are no more Shares available for issuance under the Plan and all cash Awards have been paid or
forfeited, pursuant to the Plan’s provisions. In no event, however, may an Award be granted more than ten years after the Effective Date. 
 ARTICLE 2 
 DEFINITIONS 
 As used herein, the masculine includes the feminine and the singular includes the plural, and vice versa, and the following terms shall have the meanings set forth below, unless otherwise clearly required by the
context. 
 2.1 “Award” means a grant under the Plan of Options, Restricted Stock, Restricted Stock Units, Performance Shares,
Performance Units, and Other Awards. 
 2.2 “Award Agreement” means an agreement entered into by the Company and a Participant, or
another instrument prepared by the Company in lieu of such an agreement, setting forth the terms and conditions applicable to an Award pursuant to the Plan. An Award Agreement may be in hard copy, electronic form or such other form as the Company
may permit. 
 2.3 “Board” means the Board of Directors of the Company. 
  

 - 1 - 

 2.4 “Cash Incentive Award” means a performance-based cash incentive Award granted pursuant to
Section 9.5. 
 2.5 “Change in Control” unless otherwise defined by the Committee shall be deemed to have occurred if and
when, after the Effective Date— 
 (a) any person, as such term is used in Section 13(d) and 14(d) of the Exchange
Act, other than (1) the Company, (2) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, (3) any company owned, directly or indirectly, by the shareholders of the Company in substantially
the same proportions as their ownership of stock of the Company, or (4) any person who becomes a beneficial owner (as defined below) in connection with a transaction described in clause (1) of subparagraph (c) below, is or becomes the
beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such person any securities acquired directly from the Company or its
affiliates) representing 20 percent or more of the combined voting power of the Company’s then outstanding voting securities; 
 (b) the following individuals cease for any reason to constitute a majority of the directors then serving: individuals who on the Effective Date, constitute the Board and any new director (other than a director whose initial assumption of
office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by
the Company’s shareholders was approved or recommended by a vote of at least two-thirds of the directors then still in office who were directors on the Effective Date, or whose appointment, election or nomination for election was previously so
approved or recommended; 
 (c) there is consummated a merger or consolidation of the Company or any direct or indirect
subsidiary of the Company with any other corporation, other than (1) a merger or consolidation which results in the directors of the Company immediately prior to such merger or consolidation continuing to constitute at least a majority of the
board of directors of the Company, the surviving entity or any parent thereof or (2) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no person is or becomes the beneficial
owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such person any securities acquired directly from the Company or its affiliates) representing 20% or more of the combined voting power
of the Company’s then outstanding securities; or 
 (d) the shareholders of the Company approve a plan of complete
liquidation or dissolution of the Company or there is consummated an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition by the Company of all or
substantially all of the Company’s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Company in substantially the same proportions as their ownership of the Company
immediately prior to such sale. 
 2.6 “Code” means the Internal Revenue Code of 1986, as amended. 
  

 - 2 - 

 2.7 “Committee” means the Human Resources Committee of the Board or any other committee
appointed by the Board to administer the Plan and Awards to Participants who are Employees. 
 2.8 “Company” means Idearc Inc., a
Delaware corporation, and any successor thereto. 
 2.9 “Effective Date” means the date the Plan becomes effective in accordance
with Section 1.3. 
 2.10 “Employee” means any employee of the Company or a Subsidiary. 
 2.11 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 2.12 “Fair Market Value” means the closing price of Shares on the principal securities exchange on which the Shares are traded or, if no Shares
are traded on the relevant date on such exchange, then the closing price of Shares on the trading date next preceding the relevant date; provided, however, that the Committee may prescribe a different method if the Committee, acting in a consistent
manner, determines that such different method is appropriate under the circumstances. 
 2.13 “ISO” means an Option that is
designated by the Committee as an “incentive stock option” within the meaning of Section 422 of the Code. 
 2.14“Non-Employee Director” means any individual who is a member of the Board or of the board of directors (or comparable governing body) of a Subsidiary, and who is not an Employee. 
 2.15 “NQSO” means an Option that is not designated by the Committee as an ISO. 
 2.16 “Option” means an incentive stock option or a nonqualified stock option granted pursuant to the Plan. 
 2.17 “Other Award” means an Award granted to a Participant pursuant to Article 9. 
 2.18 “Participant” means an Employee or Non-Employee Director who has been selected to receive an Award or who holds an outstanding Award.

 2.19 “Performance-Based Exception” means the performance-based exception from the tax deductibility limitation imposed by Code
Section 162(m), as set forth in Code Section 162(m)(4)(C). 
 2.20 “Performance Share” means an Award granted pursuant to
Article 8, which, on the date of grant, shall have a value equal to the Fair Market Value of a Share on that date. 
 2.21 “Performance
Unit” means an Award granted pursuant to Article 8, which shall have an initial value established by the Committee on the date of grant. 
  

 - 3 - 

 2.22 “Plan” means the Idearc Inc. Long Term Incentive Plan, as it is set forth herein and as it
may be amended from time to time. 
 2.23 “Restricted Stock” means an Award granted pursuant to Section 7.1. 
 2.24 “Restricted Stock Unit” means an Award granted pursuant to Section 7.5. 
 2.25 “Restricted Period” means the period during which the transfer of Shares of Restricted Stock is limited in some way (based on the passage
of time, the achievement of performance goals, or the occurrence of other events determined by the Committee in its discretion) and the Shares are subject to a substantial risk of forfeiture, as provided in Article 7. 
 2.26 “Share” means a share of common stock of the Company. 
 2.27 “Share Pool” means the number of Shares available under Section 4.1, as adjusted pursuant to Section 4.3. 
 2.28 “Stock Appreciation Right” or “SAR” means an Award, granted either alone or in connection with a related Option, pursuant to the terms of Article 9. 
 2.29 “Subsidiary” means (a) a corporation, partnership, joint venture, or other entity in which the Company has an ownership interest of
at least fifty percent (50%), and (b) any corporation, partnership, joint venture, or other entity in which the Company holds an ownership interest of less than fifty percent (50%) but which, in the discretion of the Committee, is treated
as a Subsidiary for purposes of the Plan. 
 ARTICLE 3 
 ADMINISTRATION 
 3.1 General. Except as otherwise determined by the Board in its discretion,
the Plan shall be administered by the Committee, which shall consist exclusively of two (2) or more non-employee directors within the meaning of the rules promulgated by the Securities and Exchange Commission under Section 16 of the
Exchange Act who also qualify as outside directors within the meaning of Code Section 162(m) and the related regulations under the Code. The members of the Committee shall be appointed from time to time by, and shall serve at the discretion of,
the Board. 
 3.2 Authority of the Committee. Except as limited by law or by the Certificate of Incorporation or Bylaws of the
Company, and subject to the provisions hereof, the Committee shall have full power in its discretion to select Employees who shall participate in the Plan; determine the sizes and types of Awards; determine the terms and conditions of Awards in a
manner consistent with the Plan; construe and interpret the Plan and any Award Agreement or other agreement or instrument entered into or issued under the Plan; establish, amend, or waive rules and regulations for the Plan’s administration;
amend the terms and conditions of any outstanding Award; determine whether and on what terms and conditions outstanding Awards will be adjusted for dividend equivalents (i.e., a credit, made at the discretion of the Committee, to the account of a
Participant in an amount equal to the cash dividends paid on one Share for each Share represented or covered by an outstanding Award held by the Participant); and 

  

 - 4 - 

 
establish a program pursuant to which designated Participants may receive an Award under the Plan in lieu of compensation otherwise payable in cash. Further,
the Committee shall make all other determinations that may be necessary or advisable for the administration of the Plan. With respect to the Non-Employee Directors, the authority conferred by this Section 3.2 shall rest with the Corporate
Governance Committee of the Board. 
 3.3 Delegation of Authority. Subject to the requirements of applicable law, the Committee may
delegate to any person or group or subcommittee of persons (who may, but need not be members of the Committee) such Plan-related functions within the scope of its responsibility, power and authority as it deems appropriate. Without limiting the
foregoing, the Committee may delegate to the Chief Executive Officer of the Company annual discretion to grant Awards to Employees for up to 100,000 Shares, and may delegate administrative duties to such person or persons as it deems appropriate.
The Committee may not delegate its authority with respect to (a) non-ministerial actions with respect to individuals who are subject to the reporting requirements of Section 16(a) of the Exchange Act; (b) non-ministerial actions with
respect to Awards that are intended to qualify for the Performance-Based Exception; and (c) certifying the satisfaction of performance goals and other material terms attributable to Awards intended to qualify for the Performance-Based
Exception. 
 3.4 Decisions Binding. All determinations and decisions made by the Committee or the [Corporate Governance] Committee of
the Board pursuant to the provisions of the Plan and all related orders and resolutions of such committee shall be final, conclusive, and binding on all persons. 
 3.5 Performance-Based Awards. For purposes of the Plan, it shall be presumed, unless the Committee indicates to the contrary, that all Awards to Employees are intended to qualify for the Performance-Based
Exception. If the Committee does not intend an Award to an Employee to qualify for the Performance-Based Exception, the Committee shall reflect its intent in its records in such manner as the Committee determines to be appropriate. 
 ARTICLE 4 
 SHARES SUBJECT TO THE
PLAN 
 AND MAXIMUM AWARDS 
 4.1 Number of Shares Issuable under the Plan. Shares that may be issued pursuant to Awards may be either authorized and unissued Shares, or authorized and issued Shares held in the Company’s treasury, or any combination of the
foregoing. Subject to adjustment as provided in Section 4.3, there shall be reserved for issuance under Awards 2,500,000 Shares. For the purposes hereof, the following Shares covered by previously-granted Awards will be deemed not to have been
issued under the Plan and will remain in the Share Pool: (a) Shares covered by the unexercised portion of an Option or SAR that terminates, expires, is canceled or is settled in cash, (b) Shares forfeited or repurchased under the Plan,
(c) Shares covered by Awards that are forfeited, canceled, terminated or settled in cash, (d) Shares withheld or surrendered in order to pay the exercise or purchase price under an Award or to satisfy the tax withholding obligations
associated with the exercise, vesting or settlement of an Award, and (e) Shares subject to SARs or a similar Award but not actually delivered in connection with the exercise or settlement of the Award. 
  

 - 5 - 

 4.2 Individual Award Limitations. The maximum aggregate number of Shares with respect to which
Awards may be granted in a single calendar year to an individual Participant may not exceed 200,000 Shares. The maximum amount an Employee may earn for any calendar year under Cash Incentive Awards granted to such Employee is the lesser of
(a) $5,000,000, or (b) an amount equal to three times the Employee’s annual salary for such calendar year. 
 4.3
Adjustments in Authorized Shares. In the event of any change in corporate capitalization, such as a stock split, or a corporate transaction, such as any merger, consolidation, separation, including a spin-off, or other distribution of stock
or property of the Company, any reorganization (whether or not such reorganization comes within the definition of such term in Code Section 368) or any partial or complete liquidation of the Company, such adjustment shall be made in the number
and class of Shares available for grants under Section 4.1, in the number and class of and/or price of Shares subject to outstanding Awards, in the per-Participant Award limit set forth in Section 4.2 hereof, and in the annual limitation
on the number of Shares that may be covered by non-Committee Awards pursuant to Section 3.3, as may be determined to be appropriate and equitable by the Committee, in its discretion, to prevent dilution or enlargement of the benefits available
under the Plan and of the rights of Participants; provided that the number of Shares subject to any Award shall always be a whole number. In a stock-for-stock acquisition of the Company, the Committee may, in its discretion, substitute securities of
another issuer for any Shares subject to outstanding Awards. 
 ARTICLE 5 
 ELIGIBILITY AND PARTICIPATION 
 5.1 Eligibility. All Employees and
Non-Employee Directors are eligible to participate in the Plan. 
 5.2 Actual Participation. Subject to the provisions of the Plan,
the Committee may, from time to time, select from all Employees those to whom Awards shall be granted and shall determine the nature and size of each Award. The Corporate Governance Committee of the Board shall determine the Awards to be granted to
the Non-Employee Directors in accordance with the Company’s compensation program for Non-Employee Directors. 
 ARTICLE 6

 RESTRICTED STOCK AND 
 RESTRICTED STOCK UNITS 
 6.1 Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the
Committee, at any time and from time to time, may grant Shares of Restricted Stock to Participants in such amounts as the Committee shall determine. 
  

 - 6 - 

 6.2 Restrictions. 
 (a) The Committee shall impose such conditions and/or restrictions on any Shares of Restricted Stock as the Committee may determine
including, without limitation, a requirement that Participants pay a stipulated purchase price for each Share of Restricted Stock, transfer restrictions, restrictions based upon the achievement of specific performance goals (Company-wide,
divisional, and/or individual), time-based restrictions, and/or restrictions under applicable federal or state securities laws. 
 (b) The Company may retain the certificates representing Shares of Restricted Stock in the Company’s possession until such time as all conditions and/or restrictions applicable to such Shares have been satisfied. 
 (c) Except as otherwise provided in this Article, Shares of Restricted Stock that have not yet been forfeited or canceled shall become
freely transferable (subject to any restrictions under applicable securities laws) by the Participant after the last day of the applicable Restriction Period. 
 6.3 Voting Rights. Participants holding Shares of Restricted Stock may be granted full voting rights with respect to those Shares during the Restriction Period. 
 6.4 Dividends and other Distributions. At the discretion of the Committee, during the Restriction Period, Participants holding Shares of
Restricted Stock may be credited with regular cash dividends paid with respect to such Shares while they are so held. The Committee may apply any restrictions to the dividends that the Committee deems appropriate. Without limiting the generality of
the preceding sentence, if the grant or vesting of Restricted Stock is designed to comply with the requirements of the Performance-Based Exception, the Committee may apply any restrictions it deems appropriate to the payment of dividends declared
with respect to such Restricted Stock, so that the dividends and/or the Restricted Stock shall be eligible for the Performance-Based Exception. 
 6.5 Restricted Stock Units. In lieu of or in addition to any Awards of Restricted Stock, the Committee may grant Restricted Stock Units to any Participant, subject to the terms and conditions of this Article being applied to such
Awards as if those Awards were for Restricted Stock and subject to such other terms and conditions as the Committee may determine (including, but not limited to, requiring or permitting deferral of the payment of such Awards after the time that
Participants become vested in them, notwithstanding any provision to the contrary in Section 6.2 above). Each Restricted Stock Unit shall have the value of one Share. Restricted Stock Units may be paid at such time as the Committee may
determine in its discretion, and payments may be made in a lump sum or in installments, in cash, Shares, or a combination thereof, as determined by the Committee in its discretion. 
  

 - 7 - 

 ARTICLE 7 
 PERFORMANCE UNITS AND PERFORMANCE SHARES 
 7.1 Grant of Performance Units/Shares. Subject to
the terms of the Plan, Performance Units, and/or Performance Shares may be granted to Participants in such amounts and upon such terms, and at any time and from time to time, as shall be determined by the Committee. 
 7.2 Value of Performance Units/Shares. Each Performance Unit shall have an initial value that is established by the Committee at the time of
grant. Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the date of grant. The Committee shall set performance goals in its discretion that, depending on the extent to which they are met, shall
determine the number and/or value of Performance Units/Shares that shall be paid out to the Participant. 
 7.3 Earning Performance
Units/Shares. Subject to the terms of the Plan, after the applicable performance period has ended, the holder of Performance Units/Shares shall be entitled to receive payout with respect to the number and value of Performance Units/Shares earned
by the Participant over the performance period, to be determined as a function of the extent to which the corresponding performance goals have been achieved. 
 7.4 Form and Timing of Payment of Performance Units/Shares. 
 7.4.1
Distributions. Unless the Committee determines otherwise in its discretion, payment of earned Performance Units/Shares shall be made in a single lump sum following the close of the applicable Performance period. Subject to the terms of the
Plan, the Committee, in its discretion, may direct that earned Performance Units/Shares be paid in the form of cash or Shares (or in a combination thereof) that have an aggregate Fair Market Value equal to the value of the earned Performance
Units/Shares on the last trading day immediately before the close of the applicable performance period. Such Shares may be granted subject to any restrictions deemed appropriate by the Committee. 
 7.4.2 Dividends. At the discretion of the Committee, Participants may be entitled to receive any dividends declared with respect to
Shares that have been earned in connection with grants of Performance Units and/or Performance Shares, but not yet distributed to Participants; such dividends may be subject to the same accrual, forfeiture, and payout restrictions as apply to
dividends earned with respect to Shares covered by Restricted Stock Awards. In addition, Participants may, at the discretion of the Committee, be entitled to exercise voting rights with respect to such Shares. 
 ARTICLE 8 
 STOCK OPTIONS

 8.1 Grant of Options. Subject to the terms of the Plan, Options may be granted to Participants in such number, and upon such
terms, and at any time and from time to time as shall be determined by the Committee. 
  

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 8.2 Option Exercise Price. The Option exercise price under each Option shall not be less than one
hundred percent (100%) of the Fair Market Value of a Share on the date the Option is granted. The Committee may not re-price a previously granted Option. 
 8.3 Term of Options. Each Option granted to a Participant shall expire at such time as the Committee shall determine at the time of grant; provided that no Option shall be exercisable after the tenth
(10th) anniversary of its date of grant. 
 8.4 Exercise of Options. Options granted under the Plan shall be exercisable at such
times and be subject to such restrictions and conditions as the Committee shall in each instance approve, which need not be the same for each grant or for each Participant. Options shall be exercised by the delivery of a written notice of exercise
to the Company, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares. 
 8.5 Payment. When an Option is exercised, the Option exercise price shall be payable to the Company in full either: 
 (a) In cash or its equivalent; or 
 (b) by tendering previously acquired Shares having an aggregate Fair Market
Value at the time of exercise equal to the total Option exercise price (provided that the Shares that are tendered must have been held by the Participant for at least six (6) months prior to their tender to satisfy the Option exercise price);
or 
 (c) by a combination of (a) and (b). 
 The Committee also may allow broker-assisted exercise as permitted under Federal Reserve Board’s Regulation T, subject to applicable securities law restrictions, or by any other means that the Committee
determines to be consistent with the Plan’s purpose and applicable law. Subject to any governing rules or regulations, as soon as practicable after receipt of a written notification of exercise and full payment of the Option exercise price, the
Company shall deliver to the Participant, in the Participant’s name (or, at the direction of the Participant, jointly in the names of the participant and the Participant’s spouse), one or more Share certificates for the Shares purchased
under the Option(s). 
 8.6 Limitations on ISOs. Notwithstanding anything in the Plan to the contrary, to the extent required from
time to time by the Code and/or applicable regulations, the following additional provisions shall apply to the grant of Options that are intended to qualify as ISOs: 
 8.6.1 Fair Market Value Limitation. The aggregate Fair Market Value (determined as of the date the ISO is granted) of the Shares
with respect to which ISOs are exercisable for the first time by any Participant during any calendar year (under all plans of the Company (or any parent or subsidiary corporation within the meaning of Code Section 424) shall not exceed one
hundred thousand dollars ($100,000) or such other amount as may subsequently be specified by the Code and/or applicable regulations; provided that, to the extent that such limitation is exceeded, any Options on Shares with a Fair Market Value in
excess of such amount shall be deemed to be NQSOs. 
  

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 8.6.2 Code Section 422. ISOs shall contain such other provisions as the
Committee shall deem advisable, but shall in all events be consistent with and contain or be deemed to contain all provisions required in order to qualify as incentive stock options under Section 422 of the Code. Moreover, no ISOs may be
granted more than ten years from the earlier of the date on which the Plan was adopted by the Board or the date the Plan received shareholder approval. 
 ARTICLE 9 
 OTHER AWARDS 
 9.1 General. Subject to the terms of the Plan, the Committee may grant any types of Awards other than those that are specifically set forth in
Articles 6 through 8 hereof, including, but not limited to, SARs, Cash Incentive Awards, and the payment of Shares in lieu of cash under any Company incentive bonus plan or program. Subject to the terms of the Plan, the Committee, in its sole
discretion, shall determine the terms and conditions of such Other Awards. 
 9.2 Grant of SARs. Subject to the terms and conditions
of the Plan, SARs may be granted to Participants at any time and from time to time as shall be determined by the Committee. The Committee shall have complete discretion in determining the number of SARs granted to each Participant (subject to
Article 4 hereof) and, consistent with the provisions of the Plan, in determining the terms and conditions pertaining to such SARs. The grant price of an SAR shall equal the Fair Market Value of a Share on the date of grant of the SAR. 

9.3 Term of SARs. The term of an SAR shall be determined by the Committee, in its discretion; provided that such term shall not exceed ten
years. 
 9.4 Payment of SAR Amount. Upon exercise of an SAR, a Participant shall be entitled to receive payment from the Company in
an amount determined by multiplying: 
 (a) the excess of the Fair Market Value of a Share on the date of exercise over the
grant price, by 
 (b) the number of Shares with respect to which the SAR is exercised. 
 At the discretion of the Committee, the payment upon exercise of an SAR may be in cash, in Shares of equivalent Fair Market Value, or in some combination thereof.

 9.5 Cash Incentive Awards. Incentive Awards, including annual incentive Awards and long-term incentive Awards, denominated as cash
amounts, may be granted under the Plan, subject to achievement of specified performance goals established by the Committee. At the expiration of the applicable performance period, the Committee shall determine whether and the extent to which the
performance goals are achieved and the extent to which each Cash Incentive Award has been earned. The amount (if any) payable to a Participant in respect of a Cash Incentive Award will be paid in cash as soon as practicable after such amount is
determined, subject to such deferral conditions as may be permitted or prescribed consistent with the requirements of Section 409A of the Code. 
  

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 ARTICLE 10 
 AWARD AGREEMENTS 
 10.1 In General. Each Award shall be evidenced by an Award Agreement that
shall include such provisions as the Committee shall determine and that shall specify— 
 (a) in the case of Restricted
Stock or Restricted Stock Units, the number of Shares of Restricted Stock or Restricted Stock Units granted, the applicable restrictions, and the Restriction Period(s); 
 (b) in the case of Performance Units or Performance Shares, the number of Performance Units or Performance Shares granted, the initial
value of a Performance Unit (if applicable), and the performance goals; 
 (c) in the case of an Option or SAR, the number of
the Shares to which the Option or SAR pertains, the Option exercise price or SAR grant price, the term of the Option or SAR, the schedule on which the Option or SAR becomes exercisable, and, in the case of an Option, whether it is intended to be an
ISO or an NQSO; and 
 (d) in the case of a Cash Incentive Award, the amount that may be earned and the performance goals.

 10.2 Severance from Service. Each Award Agreement shall set forth the extent to which the Participant shall have rights under the
Award following the Participant’s severance from service with the Company and its Subsidiaries. The Award Agreement may make distinctions based on the reason for the Participant’s severance from service. 
 10.3 Restrictions on Transferability. Subject to the provisions of the Plan, each Award Agreement shall set forth such restrictions on the
transferability of the Award and on the transferability of Shares acquired pursuant to the Award as the Committee may deem advisable, including, without limitation, restrictions under applicable securities laws, under the requirements of any stock
exchange or market upon which such Shares are then listed and/or then traded, and under any blue sky or state securities laws applicable to such Shares. In the case of an ISO (and in the case of any other Award, except as otherwise provided in the
Award Agreement), a Participant’s Award may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution, and shall be exercisable during the
Participant’s lifetime only by the Participant. 
 10.4 Uniformity Not Required. The provisions of the Award Agreements need not
be uniform among all Awards, among all Awards of the same type, among all Awards granted to the same Participant, or among all Awards granted at the same time. 
 ARTICLE 11 
 PERFORMANCE MEASURES 
 11.1 Performance Criteria. Unless and until the Company’s shareholders approve a change in the general performance measures set forth in this
Article 11, the attainment of which may determine the degree of payout and/or vesting with respect to Awards that are designed to 

  

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qualify for the Performance-Based Exception, the performance measure(s) to be used for purposes of such grants may be measured at the Company level, at a
subsidiary level, or at an operating unit level, and shall be chosen from among: 
 (a) Income measures (including, but not
limited to, gross profit, operating income, earnings before or after taxes, or earnings per share); 
 (b) Return measures
(including, but not limited to, return on assets, investment, equity, or sales); 
 (c) Cash flow return on investments, which
equals net cash flows divided by owners equity; 
 (d) Gross revenues; 
 (e) Debt measures (including, without limitation, debt multiples); 
 (f) Marked value added; 
 (g) Economic value added; and 
 (h) Share price (including, but not limited to, growth
measures and total shareholder return). 
 11.2 Adjustments. The Committee shall have the discretion to adjust the determinations of
the degree of attainment of the pre-established performance goals; provided that Awards that are designed to qualify for the Performance-Based Exception may not be adjusted upward (although the Committee shall retain the discretion to adjust such
Awards downward). 
 11.3 Certification. In the case of any Award that is granted subject to the condition that a specified
performance measure be achieved, no payment under such Award shall be made prior to the time that the Committee certifies in writing that the performance measure has been achieved. For this purpose, approved minutes of the Committee meeting at which
the certification is made shall be treated as a written certification. No such certification is required, however, in the case of an Award that is based solely on an increase in the value of a Share from the date such Award was made. 
 ARTICLE 12 
 BENEFICIARY DESIGNATION

 Each Participant may, from time to time, name any beneficiary or beneficiaries to whom any benefit under the Plan is to be paid in
case of the Participant’s death before the Participant receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant with respect to such benefit, shall be in a form prescribed by the
Company, and shall be effective only when filed by the Participant in writing with the Company during the Participant’s lifetime. In the absence of any such designation, any benefits remaining unpaid 

  

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under the Plan at the Participant’s death shall be paid to the Participant’s estate unless otherwise provided in the Award Agreement. 

ARTICLE 13 
 DEFERRALS

 The Committee may permit or require a Participant to defer receipt of the payment of cash or the delivery of Shares that would
otherwise be due pursuant to the exercise of an Option or SAR, the lapse or waiver of restrictions with respect to Restricted Stock or Restricted Stock Units, the satisfaction of any requirements or goals with respect to Performance Units/Shares, or
in connection with any Other Awards, all in accordance with such procedures and upon such terms and conditions as the Committee, acting in its discretion, may prescribe. 
 ARTICLE 14 
 NO RIGHT TO EMPLOYMENT OR PARTICIPATION 
 14.1 Employment. The Plan shall not interfere with or limit in any way the right of the Company or of any Subsidiary to terminate any
Employee’s employment at any time, and the Plan shall not confer upon any Employee the right to continue in the employ of the Company or of any Subsidiary. 
 14.2 Participation. No Employee or Non-Employee Director shall have the right to be selected to receive an Award or, having been so selected, to be selected to receive a future Award. 
 ARTICLE 15 
 CHANGE IN CONTROL

 Upon the occurrence of a Change in Control, any and all then-outstanding Options and SARs shall become immediately exercisable, and
any vesting or other conditions, restriction periods and restrictions imposed on or with respect to any other Awards that are then-outstanding (including, without limitation, any Restricted Stock Unit and Performance Unit Awards) shall lapse. Any
Option or SAR that is neither exercised or otherwise settled nor assumed or substituted for an equivalent Option or SAR of the acquiring or successor entity shall terminate upon the consummation of the Change in Control. Any other Awards will be
converted into cash or Shares immediately prior to the consummation of the Change in Control. 
  

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 ARTICLE 16 
 AMENDMENT AND TERMINATION 
 16.1 Amendment and Termination. Subject to the terms of the Plan,
the Committee may at any time and from time to time, alter, amend, suspend, or terminate the Plan in whole or in part; provided that, unless the Committee specifically provides otherwise, any revision or amendment that would cause the Plan to fail
to comply with any requirement of applicable law, regulation, or rule if such amendment were not approved by the shareholders of the Company shall not be effective unless and until shareholder approval is obtained. 
 16.2 Outstanding Awards. Notwithstanding any other provision of the Plan to the contrary, no termination, amendment, or modification of the Plan
shall cause, without the consent of the Participant, any previously granted Awards to be forfeited or altered in a way that adversely affects the Participant. After the termination of the Plan, any previously granted Award shall remain in effect and
shall continue to be governed by the terms of the Plan, the Award, and any applicable Award Agreement. 
 ARTICLE 17 
 TAX WITHHOLDING 
 17.1 Tax
Withholding. The Company and its Subsidiaries shall have the power and the right to deduct or withhold, or to require a Participant to remit to the Company or to a Subsidiary, an amount that the Company or a Subsidiary reasonably determines to
be required to comply with federal, state, local, or foreign tax withholding requirements. 
 17.2 Share Withholding. With respect to
withholding required upon the exercise of Options or SARs, upon the lapse of restrictions on Restricted Stock, or upon any other taxable event arising as a result of Awards granted hereunder, Participants may elect, subject to the approval of the
Committee, to satisfy the withholding requirement, in whole or in part, by having the Company withhold Shares having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory withholding tax that could be imposed on
the transaction. All such elections shall be irrevocable, made in writing, signed by the Participant, and shall be subject to any restrictions or limitations that the Committee, in its discretion, deems appropriate. 
 ARTICLE 18 
 SUCCESSORS

 All obligations of the Company under the Plan with respect to Awards granted hereunder shall be binding on any successor to the
Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 
 ARTICLE 19 
 LEGAL CONSTRUCTION

 19.1 Severability. If any provision of the Plan shall be held illegal or invalid for any reason, such illegality or invalidity
shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 
  

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 19.2 Requirements of Law. The granting of Awards and the issuance of Shares under the Plan shall
be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 19.3 Section 409A Compliance. Except as otherwise specifically provided by the Committee at the time an Award is made, any Award providing for a deferral of compensation must satisfy the requirements of
Section 409A. Toward that end, if any payment or benefit received or to be received by a Participant pursuant to an Award would cause the Participant to incur a penalty tax or interest under Section 409A of the Code or any regulations or
Treasury Department guidance promulgated thereunder, the Committee may reform the provision(s) of such Award in order to avoid to the maximum extent practicable the incurrence of any such penalty tax or interest. 
 19.4 Governing Law. The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the State of Delaware
(without regard to the legislative or judicial conflict of laws rules of any state), except to the extent superseded by federal law. 
  

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