Document:

Liberty Media International, Inc. Transitional Stock Adjustment Plan

 Exhibit 10.22 
 LIBERTY MEDIA INTERNATIONAL, INC. 
 TRANSITIONAL
STOCK ADJUSTMENT PLAN 
 ARTICLE I 
 PURPOSE OF PLAN 
 The purpose of the
Plan is to provide for the supplemental grant of both stock options to purchase the common stock of Liberty Media International, Inc. (the “Company”) and of restricted shares of the Company’s common stock to holders of certain
outstanding options, stock appreciation rights and restricted shares issued under certain stock-based plans administered by Liberty Media Corporation (“LMC”) in connection with adjustments made to outstanding LMC stock incentive awards and
restricted shares of LMC common stock as a result of the spin off of the Company from LMC. 
 ARTICLE II 
 DEFINITIONS 
 2.1 Definitions. For purposes of the Plan, the following terms shall have the meanings below stated. 
 “Approved Transaction” means any transaction in which the Board (or, if approval of the Board is not required as a matter of law, the stockholders of the Company) shall approve (i) any consolidation or merger of the
Company, or binding share exchange, pursuant to which shares of Common Stock of the Company would be changed or converted into or exchanged for cash, securities, or other property, other than any such transaction in which the common stockholders of
the Company immediately prior to such transaction have the same proportionate ownership of the Common Stock of, and voting power with respect to, the surviving corporation immediately after such transaction, (ii) any merger, consolidation or
binding share exchange to which the Company is a party as a result of which the Persons who are common stockholders of the Company immediately prior thereto have less than a majority of the combined voting power of the outstanding capital stock of
the Company ordinarily (and apart from the rights accruing under special circumstances) having the right to vote in the election of directors immediately following such merger, consolidation or binding share exchange, (iii) the adoption of any
plan or proposal for the liquidation or dissolution of the Company, or (iv) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all, of the assets of the Company.

 “Board” means the Board of Directors of the Company. 

 “Board Change” means, during any period of two consecutive years,
individuals who at the beginning of such period constituted the entire Board cease for any reason to constitute a majority thereof unless the election, or the nomination for election, of each new director was approved by a vote of at least
two-thirds of the directors then still in office who were directors at the beginning of the period. 
 “Code”
means the Internal Revenue Code of 1986, as amended from time to time, or any successor statute or statutes thereto. Reference to any specific Code section shall include any successor section. 
 “Committee” means the committee of the Board appointed to administer this Plan pursuant to Article VII. 
 “Common Stock” each or any (as the context may require) series of the Company’s common stock. 
 “Company” means Liberty Media International, Inc., a Delaware corporation, and any successor thereto. 
 “Control Purchase” means any transaction (or series of related transactions) in which (1) any person (as such term is
defined in Sections 13(d)(3) and 14(d)(2) of the Exchange Act), corporation or other entity (other than the Company, any Subsidiary of the Company or any employee benefit plan sponsored by the Company or any Subsidiary of the Company) shall purchase
any Common Stock of the Company (or securities convertible into Common Stock of the Company) for cash, securities or any other consideration pursuant to a tender offer or exchange offer, without the prior consent of the Board, or (2) any person
(as such term is so defined), corporation or other entity (other than the Company, any Subsidiary of the Company, any employee benefit plan sponsored by the Company or any Subsidiary of the Company or any Exempt Person (as defined below)) shall
become the “beneficial owner” (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the then outstanding securities of
the Company ordinarily (and apart from the rights accruing under special circumstances) having the right to vote in the election of directors (calculated as provided in Rule 13d-3(d) under the Exchange Act in the case of rights to acquire the
Company’s securities), other than in a transaction (or series of related transactions) approved by the Board. For purposes of this definition, “Exempt Person” means each of (a) the Chairman of the Board, the President and each of
the directors of the Company as of the Distribution Date, and (b) the respective family members, estates and heirs of each of the Persons referred to in clause (a) above and any trust or other investment vehicle for the primary benefit of
any of such Persons or their respective family members or heirs. As used with respect to any Person, the term “family member” means the spouse, siblings and lineal descendants of such Person. 
 “Distribution” means the distribution by LMC to the holders of LMC Common Stock of all of the outstanding shares of Common
Stock. 
 “Distribution Date” means the date on which the Distribution occurs. 
  

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 “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 “Fair Market Value” of a share of any series of Common Stock on any day means the last sale price (or, if no
last sale price is reported, the average of the high bid and low asked prices) for a share of such series of Common Stock on such day (or, if such day is not a trading day, on the next preceding trading day) as reported on the consolidated
transaction reporting system for the principal national securities exchange on which shares of such series of Common Stock are listed on such day or if such shares are not then listed on a national securities exchange, then as reported on Nasdaq. If
for any day the Fair Market Value of a share of the applicable series of Common Stock is not determinable by any of the foregoing means, then the Fair Market Value for such day shall be determined in good faith by the Committee on the basis of such
quotations and other considerations as the Committee deems appropriate. 
 “Incentive Plan” means the Liberty
Media Corporation 2000 Incentive Plan (As Amended and Restated Effective April 19, 2004) and any other stock option or incentive plan assumed by LMC pursuant to which any Participant holds an outstanding LMC Award as of the Record Date.
Depending on the context, “Incentive Plan” shall mean all of such plans or a particular one of such plans. 
 “LMC” means Liberty Media Corporation, a Delaware corporation. 
 “LMC Award” means
(1) an unexercised and unexpired option to purchase LMC Common Stock, (2) an LMC SAR or (3) an unvested award of restricted shares of LMC Common Stock. 
 “LMC Committee” means the Incentive Plan Committee of the Board of Directors of LMC. 
 “LMC Common Stock” means each or any (as the context may require) series of LMC’s common stock. 
 “LMC Corporate Holder” means an individual who, immediately following the Distribution Date, is (1) an LMC employee who is employed in a department of LMC that provides or is
expected to provide services to the Company pursuant to that certain facilities and services agreement entered into between the Company and LMC in connection with the Distribution, or (2) a member of the Board of Directors of LMC. 

“LMI Holder” means an individual who, immediately following the Distribution Date, is an employee of the Company or its
wholly owned subsidiary, Liberty Media International Holdings, LLC. 
 “LMC SAR” means a stock appreciation
right with respect to any series of LMC Common Stock. 
 “Option” means an option to purchase Common Stock,
granted by the Company to a Participant pursuant to Section 6.1 of the Plan. 
  

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 “Participant” means a person who is an LMC Corporate Holder or an LMI
Holder and who, as of the Record Date, holds an outstanding LMC Award. 
 “Person” means an individual,
corporation, limited liability company, partnership, trust, incorporated or unincorporated association, joint venture or other entity of any kind. 
 “Plan” means the Liberty Media International, Inc. Transitional Stock Adjustment Plan, as set forth herein and as from time to time amended. 
 “Record Date” means 5:00 p.m., New York City time, on June 1, 2004. 
 “Restricted Stock Award” means an award of restricted shares of Common Stock, granted by the Company to a Participant
pursuant to Section 5.1. 
 “Stock Incentives” refers collectively to Restricted Stock Awards and Options.

 “Subsidiary” of a Person means any present or future subsidiary (as defined in Section 424(f) of the
Code) of such Person or any business entity in which such Person owns, directly or indirectly, 50% or more of the voting, capital or profits interests. An entity shall be deemed a subsidiary of a Person for purposes of this definition only for such
periods as the requisite ownership or control relationship is maintained. 
 ARTICLE III 
 RESERVATION OF SHARES 
 The aggregate number of shares of Common Stock which may be issued under this Plan shall not exceed 3,700,000 shares, subject to adjustment
as hereinafter provided. Any part of such 3,700,000 shares may be issued pursuant to Restricted Stock Awards. The shares of Common Stock which may be granted pursuant to Stock Incentives will consist of either authorized but unissued shares of
Common Stock or shares of Common Stock which have been issued and reacquired by the Company, including shares purchased in the open market. The total number of shares authorized under this Plan shall be subject to increase or decrease in order to
give effect to the adjustment provision of Section 9.3 and to give effect to any amendment adopted as provided in Section 8.1. 
 ARTICLE IV 
 PARTICIPATION IN PLAN

 4.1 Eligibility to Receive Stock Incentives. Stock Incentives under this Plan may be granted only to persons who are
Participants. 
 4.2 Participation Not Guarantee of Employment. Nothing in this Plan or in the instrument evidencing the
grant of a Stock Incentive shall in any manner be construed to limit in any way the right of the Company, LMC or any of their respective Subsidiaries to terminate a Participant’s employment at any time, without regard to the effect of such
termination on any rights such Participant would otherwise have under the Plan or any Incentive Plan, or give any right to such a Participant to remain employed by the Company, LMC or any of their respective Subsidiaries in any particular position
or at any particular rate of compensation. 
  

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 ARTICLE V 
 STOCK AWARDS 
 5.1 Grant of Restricted Stock
Awards. 
 (a) Grant. Restricted Stock Award(s) shall be granted to each Participant who, as of the
Record Date, holds an outstanding LMC Award(s) consisting of unvested restricted shares of LMC Common Stock. 
 (b) Award of Shares. Each Restricted Stock Award shall be for the same series of Common Stock as the corresponding award of restricted shares of LMC Common Stock to which such Restricted Stock Award relates. The number of shares of
Common Stock covered by a Restricted Stock Award shall be 0.05 shares of Common Stock for each share of LMC Common Stock under the corresponding award of restricted shares of LMC Common Stock which such Restricted Stock Award replaces;
provided, however, no fractional shares of Common Stock shall be awarded under a Restricted Stock Award, and, if the foregoing adjustment results in any fractional shares, LMC will deliver cash in lieu of such fractional share interest
to the applicable Participant in the same manner as cash in lieu of fractional share interests is paid to record holders of LMC Common Stock in the Distribution. Each Restricted Stock Award and the restricted shares of Common Stock issued thereunder
shall continue to be subject to all the terms and conditions of the applicable Incentive Plan and associated instrument under which the corresponding award of restricted shares of LMC Common Stock was made and any such terms, conditions and
restrictions as may be determined to be appropriate by the Committee. 
 (c) Lapse of Restrictions. The
restrictions on each Restricted Stock Award shall lapse in accordance with the terms and conditions of the applicable Incentive Plan and associated instrument under which the corresponding award of restricted shares of LMC Common Stock was made;
provided, however, that a Participant’s employment or service with the Company, LMC or any of their respective Subsidiaries shall be deemed to be employment or service with the Company and LMC for all purposes under a Restricted Stock Award.

 (d) Award Documentation. Restricted Stock Awards shall be evidenced in such form as the Committee shall
approve and contain such terms and conditions as shall be contained therein or incorporated by way of reference to the Incentive Plan or any associated instrument governing the corresponding award of restricted shares of LMC Common Stock, which need
not be the same for all Restricted Stock Awards. 
  

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 (e) Rights with Respect to Shares. No Participant who is granted a
Restricted Stock Award shall have any rights as a stockholder by virtue of such grant until shares are actually issued or delivered to the Participant. 
 ARTICLE VI 
 OPTIONS 
 6.1 Grant of Options. 
 (a) Grant. Option(s) shall be granted to each Participant who, as of the Record Date, holds an outstanding LMC Award(s) consisting of an option to purchase shares of LMC Common Stock or an LMC SAR.
Except as otherwise provided in this Plan, each Option shall continue to be subject to all the terms and conditions of the applicable Incentive Plan and associated instrument under which the corresponding option to purchase LMC Common Stock or LMC
SAR (to the extent such terms and conditions would be applicable to the grant of an Option) was made and any such terms, conditions and restrictions as may be determined to be appropriate by the Committee. 
 (b) Option Shares. Each Option shall be for the same series of Common Stock as the corresponding option for LMC
Common Stock or LMC SAR to which such Option relates. The number of shares of Common Stock exercisable under an Option shall be the number of shares of Common Stock that a Participant would have received in the Distribution if the applicable option
for LMC Common Stock had been exercised immediately prior to the Record Date or, in the case of an LMC SAR, the number of shares of Common Stock equal to .05 times the aggregate number of shares of LMC Common Stock subject to such LMC SAR
immediately prior to the Record Date; provided, however, no fractional shares of Common Stock shall be awarded under an Option, and, if the conversion of an option to purchase shares of LMC Common Stock or an LMC SAR into an Option
results in any fractional shares, the number of shares of Common Stock to be exercisable under an Option shall be rounded up to the nearest whole number of shares. 
 (c) Option Price. The purchase price per share of Common Stock under each Option shall be established by the LMC
Committee. The Option price shall be subject to adjustment in accordance with the provisions of Section 9.3 hereof. 
 (d) Option Documentation. Options shall be evidenced in such form as the Committee shall approve and contain such terms and conditions as shall be contained therein or incorporated by way of
reference to the Incentive Plan or any associated instrument governing the corresponding option to purchase LMC Common Stock or LMC SAR (to the extent such terms and conditions would be applicable to the grant of an Option), which need not be the
same for all Options. 
  

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 6.2 Exercise and/or Termination of Options. 
 (a) Terms of Option. Options granted under this Plan may be exercised at the same time and in the same manner as the
corresponding option to purchase LMC Common Stock or LMC SAR (to the extent applicable to the grant of an Option). Options granted under this Plan shall expire at the same time and in the same manner as the corresponding option to purchase LMC
Common Stock or LMC SAR (to the extent applicable to the grant of an Option), as provided in the applicable Incentive Plan and any associated instrument governing such option to purchase LMC Common Stock or LMC SAR; provided, however, that a
Participant’s employment or service with the Company, LMC or any of their respective Subsidiaries shall be deemed to be employment or service with the Company and LMC for all purposes under an Option. 
 (b) Payment on Exercise. No shares of Common Stock shall be issued on the exercise of an Option unless paid for in
full at the time of purchase. Payment for shares of Common Stock purchased upon the exercise of an Option and any amounts required under Section 9.4 shall be determined by the Committee and may consist of (i) cash, (ii) check,
(iii) promissory note (subject to applicable law), (iv) whole shares of any series of Common Stock, (v) the withholding of shares of the applicable series of Common Stock issuable upon such exercise of the Option, (vi) the
delivery, together with a properly executed exercise notice, of irrevocable instructions to a broker to deliver promptly to the Company the amount of sale or loan proceeds required to pay the purchase price, or (vii) any combination of the
foregoing methods of payment, or such other consideration and method of payment as may be permitted for the issuance of shares under the Delaware General Corporation Law. The permitted method or methods of payment of the amounts payable upon
exercise of an Option, if other than in cash, shall be set forth in the applicable Option agreement and may be subject to such conditions as the Committee deems appropriate. 
 (c) Value of Shares. Unless otherwise determined by the Committee and provided in the applicable Option agreement,
shares of any series of Common Stock delivered in payment of all or any part of the amounts payable in connection with the exercise of an Option, and shares of any series of Common Stock withheld for such payment, shall be valued for such purpose at
their Fair Market Value as of the exercise date. 
 (d) Issuance of Shares. The Company shall effect the
transfer of the shares of Common Stock purchased under the Option as soon as practicable after the exercise thereof and payment in full of the purchase price therefor and of any amounts required by Section 9.4, and within a reasonable time
thereafter, such transfer shall be evidenced on the books of the Company. Unless otherwise determined by the Committee and provided in the applicable Option agreement, (i) no Participant or other person exercising an Option shall have any of
the rights of a stockholder of the Company with respect to shares of Common Stock subject to an Option granted under the Plan until due exercise and full payment has been made, and (ii) no adjustment shall be made for cash dividends or other
rights for which the record date is prior to the date of such due exercise and full payment. 
  

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 ARTICLE VII 
 ADMINISTRATION OF PLAN 
 7.1 The
Committee. This Plan shall be administered solely by the Compensation Committee of the Board or such other committee of the Board as the Board shall designate to administer the Plan. A majority of the Committee shall constitute a quorum thereof
and the actions of a majority of the Committee at a meeting at which a quorum is present, or actions unanimously approved in writing by all members of the Committee, shall be the actions of the Committee. Vacancies occurring on the Committee shall
be filled by the Board. The Committee shall have full and final authority to interpret this Plan and any instruments evidencing Stock Incentives granted hereunder, to prescribe, amend and rescind rules and regulations, if any, relating to this Plan
and to make all determinations necessary or advisable for the administration of this Plan. The Committee’s determination in all matters referred to herein shall be conclusive and binding for all purposes and upon all persons including, but
without limitation, the Company, LMC, the shareholders of the Company, the shareholders of LMC, the Committee and each of the members thereof, and the Participants, and their respective successors in interest. The Committee may delegate any of its
rights, powers and duties to any one or more of its members, or to any other person, by written action as provided herein, acknowledged in writing by the delegate or delegates, except that the Committee may not delegate to any person the authority
to grant Stock Incentives to, or take other action with respect to, Participants who are subject to Section 16 of the Exchange Act. Such delegation may include, without limitation, the power to execute any documents on behalf of the Committee.

 7.2 Liability of Committee. No member of the Committee shall be liable for any action or determination made or taken
by him or the Committee in good faith with respect to the Plan. The Committee shall have the power to engage outside consultants, auditors or other professionals to assist in the fulfillment of the Committee’s duties under this Plan at the
Company’s expense. 
 7.3 Determinations of the Committee. The Committee may, in its sole discretion, waive any
provisions of any Stock Incentive, provided such waiver is not inconsistent with the terms of the applicable Incentive Plan, any associated instrument or this Plan as then in effect. 
 ARTICLE VIII 
 AMENDMENT AND
TERMINATION OF PLAN 
 8.1 Amendment, Modification, Suspension or
Termination. The Board may from time to time amend, modify, suspend or terminate the Plan for the purpose of meeting or addressing any changes in legal requirements or for any other purpose permitted by law except that (i) no amendment or
alteration that would impair the rights of any Participant under any Stock Incentive awarded to such Participant shall be made without such Participant’s consent and (ii) no amendment or alteration shall be effective prior to approval by the
Company’s shareholders to the extent such approval is then required pursuant to applicable legal requirements or the applicable requirements of the securities exchange on which the Company’s Common Stock is listed. With the consent of the
Participant and subject to the terms and conditions of the Plan, the Committee may amend outstanding Stock Incentive agreements with any Participant, including any amendment which would (i) accelerate the time or times at which the Stock
Incentive may be exercised and/or (ii) extend the scheduled expiration date of the Stock Incentive. 
  

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 8.2 Termination. The Board may at any time terminate this Plan as of any date
specified in a resolution adopted by the Board. If not earlier terminated, this Plan shall terminate on the last date that any Option granted hereunder may be exercised or any restriction applicable to a Restricted Stock Award granted hereunder has
lapsed, whichever occurs later. 
 ARTICLE IX 
 MISCELLANEOUS PROVISIONS 
 9.1 Exclusion from
Pension and Profit-Sharing Computation. By acceptance of a Stock Incentive, unless otherwise provided in the applicable Stock Incentive agreement, each Participant shall be deemed to have agreed that such Stock Incentive is special incentive
compensation that will not be taken into account, in any manner, as salary, compensation or bonus in determining the amount of any payment under any pension, retirement or other employee benefit plan, program or policy of the Company or any
Subsidiary of the Company. In addition, each beneficiary of a deceased Participant shall be deemed to have agreed that such Stock Incentive will not affect the amount of any life insurance coverage, if any, provided by the Company on the life of the
Participant which is payable to such beneficiary under any life insurance plan covering employees of the Company or any Subsidiary of the Company. 
 9.2 Government and Other Regulations. The obligation of the Company with respect to Stock Incentives shall be subject to all applicable laws, rules and regulations and such approvals by any
governmental agencies as may be required, including the effectiveness of any registration statement required under the Securities Act of 1933, and the rules and regulations of any securities exchange or association on which the Common Stock may be
listed or quoted. For so long as any series of Common Stock is registered under the Exchange Act, the Company shall use its reasonable efforts to comply with any legal requirements (i) to maintain a registration statement in effect under the
Securities Act of 1933 with respect to all shares of the applicable series of Common Stock that may be issued to Participants under the Plan and (ii) to file in a timely manner all reports required to be filed by it under the Exchange Act.

  

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 9.3 Adjustments. 
 (a) If the Company subdivides its outstanding shares of any series of Common Stock into a greater number of shares of such
series of Common Stock (by stock dividend, stock split, reclassification, or otherwise) or combines its outstanding shares of any series of Common Stock into a smaller number of shares of such series of Common Stock (by reverse stock split,
reclassification, or otherwise) or if the Committee determines that any stock dividend, extraordinary cash dividend, reclassification, recapitalization, reorganization, split-up, spin-off, combination, exchange of shares, warrants or rights offering
to purchase such series of Common Stock or other similar corporate event (including mergers or consolidations other than those which constitute Approved Transactions, adjustments with respect to which shall be governed by Section 9.3(b))
affects any series of Common Stock so that an adjustment is required to preserve the benefits or potential benefits intended to be made available under the Plan, then the Committee, in its sole discretion and in such manner as the Committee may deem
equitable and appropriate, may make such adjustments to any or all of (i) the number and kind of shares of stock subject to outstanding Stock Incentives, and (ii) the purchase or exercise price with respect to any of the foregoing,
provided, however, that the number of shares subject to any Stock Incentive shall always be a whole number. Notwithstanding the foregoing, if all shares of any series of Common Stock are redeemed, then each outstanding Stock Incentive shall
be adjusted to substitute for the shares of such series of Common Stock subject thereto the kind and amount of cash, securities or other assets issued or paid in the redemption of the equivalent number of shares of such series of Common Stock and
otherwise the terms of such Stock Incentive, including, in the case of Options or similar rights, the aggregate exercise price, shall remain constant before and after the substitution (unless otherwise determined by the Committee and provided in the
applicable Stock Incentive agreement). The Committee may, if deemed appropriate, provide for a cash payment of a Stock Incentive to a Participant in connection with any adjustment made pursuant to this Section 9.3(a). 
 (b) Approved Transactions; Board Change; Control Purchase. In the event of any Approved Transaction, Board Change or
Control Purchase, notwithstanding any contrary waiting period, installment period, vesting schedule or restriction period in any Stock Incentive agreement or in the Plan, unless the applicable Stock Incentive agreement provides otherwise:
(i) in the case of an Option, each such outstanding Option granted under the Plan shall become exercisable in full in respect of the aggregate number of shares covered thereby; and (ii) in the case of Common Stock awarded under a
Restricted Stock Award, any restriction period applicable to each such Common Stock shall be deemed to have expired and all such Common Stock shall become vested. Notwithstanding the foregoing, unless otherwise provided in the applicable Stock
Incentive agreement, the Committee may, in its discretion, determine that any or all outstanding Stock Incentives of any or all types granted pursuant to the Plan will not vest or become exercisable on an accelerated basis in connection with an
Approved Transaction if effective provision has been made for the taking of such action which, in the opinion of the Committee, is equitable and appropriate to substitute a new Stock Incentive or to assume such Stock Incentive and to make such new
or assumed Stock Incentive, as nearly as may be practicable, equivalent to the old Stock Incentive (before giving effect to any acceleration of the vesting or exercisability thereof), taking into account, to the extent applicable, the kind and
amount of securities, cash or other assets into or for which the applicable series of Common Stock may be changed, converted or exchanged in connection with the Approved Transaction. 
  

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 9.4 Withholding of Taxes. The Company’s obligation to deliver shares of Common
Stock or pay cash in respect of any Stock Incentives under the Plan shall be subject to applicable federal, state and local tax withholding requirements. Federal, state and local withholding tax due upon the exercise of any Option or upon the
vesting of, or expiration of restrictions with respect to Common Stock granted under Restricted Stock Awards, may, in the discretion of the Committee, be paid in shares of the applicable series of Common Stock already owned by the Participant or
through the withholding of shares otherwise issuable to such Participant, upon such terms and conditions (including the conditions referenced in Section 6.2) as the Committee shall determine. If the Participant shall fail to pay, or make
arrangements satisfactory to the Committee for the payment of, all such federal, state and local taxes required to be withheld with respect to a Stock Incentive, then the Company shall, to the extent permitted by law, have the right to deduct from
any payment of any kind otherwise due to such Participant an amount equal to any federal, state or local taxes of any kind required to be withheld with respect to such Stock Incentive. 
 9.5 Restrictions on Benefit. Notwithstanding any provision of this Plan to the contrary, the provisions of any Incentive Plan
concerning restrictions on benefits (in order to avoid excise taxes on the Participant under Section 4999 of the Code or the disallowance of a deduction to the Company pursuant to Section 280G of the Code) are specifically incorporated by
this reference. 
  

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 IN WITNESS WHEREOF, this document has been executed effective as of the Record Date.

  

					
	LIBERTY MEDIA INTERNATIONAL, INC.
			
	By:	 	
 

	 	 Elizabeth M. Markowski

	Name:	 	Elizabeth M. Markowski
	Title:	 	Senior Vice President

  

 -12-UnitedGlobalCom, Inc. 1993 Stock Option Plan

 Exhibit 10.26 
 UNITEDGLOBALCOM, INC. 
 1993 STOCK OPTION PLAN 

 (amended and restated effective January 22, 2004) 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
		
	ARTICLE I	  	1
		
	INTRODUCTION	  	1
	 1.1
	  	Establishment	  	1
	 1.2
	  	Purposes	  	1
	 1.3
	  	Effective Date; Amendment	  	1
		
	ARTICLE II	  	1
		
	DEFINITIONS	  	1
	 2.1
	  	Definitions	  	1
		
	ARTICLE III	  	3
		
	PLAN ADMINISTRATION	  	3
	 3.1
	  	General	  	3
		
	ARTICLE IV	  	4
		
	STOCK SUBJECT TO THE PLAN	  	4
	 4.1
	  	Number of Shares	  	4
	 4.2
	  	Adjustments for Stock Split, Stock Dividend, Etc	  	4
	 4.3
	  	Other Distributions and Changes in the Stock	  	4
	 4.4
	  	No Rights as Stockholder	  	5
	 4.5
	  	Fractional Shares	  	5
	 4.6
	  	Determination by the Committee, Etc	  	5
		
	ARTICLE V	  	5
		
	PARTICIPATION	  	5
	 5.1
	  	In General	  	5
	 5.2
	  	Maximum Share Grant	  	5
		
	ARTICLE VI	  	6
		
	STOCK OPTIONS	  	6
	 6.1
	  	Grant of Options to Eligible Employees and Eligible Consultants	  	6
	 6.2
	  	Option Certificates	  	6
	 6.3
	  	Certain Option Terms	  	6
	 6.4
	  	Restrictions on Incentive Options	  	9
	 6.5
	  	Shareholder Privileges	  	9

  

 i 

					
	ARTICLE VII	  	9
		
	CORPORATE REORGANIZATION; CHANGE IN CONTROL	  	9
	 7.1
	  	Change in Control	  	9
	 7.2
	  	Reorganization	  	10
		
	ARTICLE VIII	  	11
		
	EMPLOYMENT; TRANSFERABILITY	  	11
	 8.1
	  	Service	  	11
	 8.2
	  	Other Employee Benefits	  	11
		
	ARTICLE IX	  	12
		
	GENERAL RESTRICTIONS	  	12
	 9.1
	  	Investment Representations	  	12
	 9.2
	  	Compliance with Securities Laws	  	12
	 9.3
	  	Changes in Accounting Rules	  	12
		
	ARTICLE X	  	13
		
	WITHHOLDING	  	13
	 10.1
	  	Withholding Requirement	  	13
	 10.2
	  	Withholding With Stock	  	13
		
	ARTICLE XI	  	13
		
	MISCELLANEOUS	  	13
	 11.1
	  	Expiration	  	13
	 11.2
	  	Amendments, Etc	  	13
	 11.3
	  	Treatment of Proceeds	  	13
	 11.4
	  	Section Headings	  	14
	 11.5
	  	Severability	  	14
	 11.6
	  	Gender and Number	  	14

  

 ii 

 UNITEDGLOBALCOM, INC. 
 1993 STOCK OPTION PLAN 
 (as amended and restated
effective January 22, 2004) 
 ARTICLE I 
 INTRODUCTION 
 1.1 Establishment. United
International Holdings, Inc., a Delaware corporation (“UIH”), effective June 1, 1993, established the United International Holdings, Inc. 1993 Stock Option Plan (the “Plan”) for certain employees of the Company (as defined
in subsection 2.1(g)) and certain consultants to the Company. UIH changed its name to UnitedGlobalCom, Inc. effective as of July 23, 1999. The name of the Plan has been changed accordingly, effective as of August 27, 1999, to
UnitedGlobalCom, Inc. 1993 Stock Option Plan. The Plan was assumed by New UnitedGlobalCom, Inc., now known as UnitedGlobalCom, Inc., on January 30, 2002. The Plan terminated by its terms on June 1, 2003. 
 1.2 Purposes. The purposes of the Plan are to provide those who are selected for participation in the Plan with added
incentives to continue in the long-term service of the Company and to create in such persons a more direct interest in the future success of the operations of the Company by relating incentive compensation to increases in shareholder value, so that
the income of those participating in the Plan is more closely aligned with the income of the Company’s shareholders. The Plan is also designed to provide a financial incentive that will help the Company attract, retain and motivate the most
qualified employees and consultants. 
 1.3 Effective Date; Amendment. The initial effective date of the Plan was
June 1, 1993. The Plan was amended and restated, as of January 30, 2002, to incorporate all amendments since the date of the then-latest restatement of the Plan on June 1, 2001. The provisions of the Plan, as so amended and restated,
applied to any Option (as defined in subsection 2.1(n)) granted on or after January 30, 2002, and, to the extent that the provisions of the Plan as amended and restated did not adversely affect the Option, also applied to Options granted prior
to January 30, 2002. The Plan is now amended and restated, effective January 22, 2004, to incorporate certain changes to the Plan’s anti-dilution provisions as well as other technical changes to the Plan. The provisions of this latest
amendment and restatement to the Plan shall apply to all Options outstanding as of January 22, 2004, but shall not affect the terminated status of the Plan. 
 ARTICLE II 
 DEFINITIONS 
 2.1 Definitions. The following terms shall have the meanings set forth below: 
 (a) “Affiliated Corporation” means any corporation or other entity (including but not limited to a partnership) that
is affiliated with UnitedGlobalCom through stock ownership or otherwise and is treated as a common employer under the provisions of Sections 414(b) and (c) of the Code, provided, however, that for purposes of Incentive Options granted pursuant
to the Plan, an “Affiliated Corporation” means any parent or subsidiary of UnitedGlobalCom as defined in Section 424 of the Code. 
  

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 (b) “Board” means the Board of Directors of UnitedGlobalCom and any
committee of the Board who has been properly delegated the authority to act on behalf of the entire Board under the terms of applicable law. 
 (c) “Class A Stock” means the Class A Common Stock, $0.01 par value, of UnitedGlobalCom. 
 (d) “Class B Stock” means the Class B Common Stock, $0.01 par value, of UnitedGlobalCom. 
 (e) “Code” means the Internal Revenue Code of 1986, as it may be amended from time to time. 
 (f) “Committee” means the committee appointed pursuant to Section 3.1. 
 (g) “Company” means UnitedGlobalCom and the Affiliated Corporations. 
 (h) “Disabled” or “Disability” shall have the meaning given to such terms in Section 22(e)(3) of the Code. 
 (i) “Eligible Consultants” means those consultants and other individuals who provide services to the Company and
whose judgment, initiative and effort are important to the Company for the management and growth of its business. For purposes of the Plan, Eligible Consultants include only those individuals who do not receive wages subject to the withholding of
federal income tax under Section 3401 of the Code. Eligible Consultants do not include the Company’s directors who are not employees of the Company. 
 (j) “Eligible Employees” means those employees (including, without limitation, officers and directors who are also employees) of the Company, whose judgment, initiative and efforts
are important to the Company for the management and growth of its business. For purposes of the Plan, an employee is an individual who wages are subject to the withholding of federal income tax under Section 3401 of the Code. Employee shall not
include any individual (1) who provides services to the Company or any subsidiary or division thereof under an agreement, contract, or any other arrangement pursuant to which the individual is initially classified as an independent contractor
or (2) whose remuneration for services has not been treated initially as subject to the withholding of federal income tax pursuant to section 3401 of the Code even if the individual is subsequently reclassified as a common law employee as a
result of a final decree of a court of competent jurisdiction or the settlement of an administrative or judicial proceeding. Leased employees within the meaning of section 414(n) of the Code shall not be treated as employees under this Plan.

 (k) “Fair Market Value” of a share of Class A Stock or Class B Stock shall be the last reported
sale price of the Class A Stock or Class B Stock, as applicable, on the NASDAQ National Market System on the day the determination is to be made, or if no sale took place on such day, the average of the closing bid and asked prices of the
Class A Stock or Class B Stock, as applicable, on the NASDAQ National Market System on such day, or if the market is closed on such day, the last day prior to the date of determination on which the market was open for the transaction of
business, as reported by the NASDAQ National Market System. If, however, the Class A Stock or the Class B Stock is listed or admitted for trading on a national securities exchange, the Fair Market Value of a share of Class A Stock or Class
B Stock shall be the last sale price or, if no sales took place, the average of the closing bid and asked prices of the Class A Stock or the Class B Stock, as applicable, on the day the determination is to be made, or if the market is closed on
such day, the last day prior to the date of determination on which the market was open for the transaction of business, as reported in the principal consolidated transaction reporting system for the principal national securities exchange on which
the Class A Stock or Class B Stock is listed or admitted for trading. If the Class A Stock is not listed or traded on the NASDAQ National Market System or on any national securities exchange, the Fair Market Value of the Class A Stock
for purposes of the grant of Options under the Plan shall be determined by the Committee in good faith. If the Class B Stock is not listed or traded on the NASDAQ National Market System or on any national securities exchange, the Fair Market Value
of the Class B Stock for purposes of the grant of Options under the Plan shall be equal to the Fair Market Value of the Class A Stock. 
  

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 (l) “Incentive Option” means an Option designated as such and
granted in accordance with the requirements of Section 422 of the Code. 
 (m) “Non-Qualified
Option” means any Option other than an Incentive Option. 
 (n) “Option” means a right to
purchase Stock at a stated or formula price for a specified period of time. Options granted under the Plan shall be either Incentive Options or Non-Qualified Options. 
 (o) “Option Certificate” shall have the meaning given to such term in Section 6.2 hereof. 
 (p) “Option Holder” means an Eligible Employee or Eligible Consultant designated by the Committee from time to time who has been granted one or more Options under the Plan.

 (q) “Option Price” means the price at which each share of Stock subject to an Option may be
purchased, determined in accordance with subsection 6.3(b). 
 (r) “Share” means a share of Stock.

 (s) “UnitedGlobalCom” means UnitedGlobalCom, Inc., a Delaware corporation, as successor in interest
to UGC Holdings, Inc., formerly known as UnitedGlobalCom, Inc., and any successor thereto. 
 (t)
“Stock” means the Class A Stock and the Class B Stock. 
 ARTICLE III 
 PLAN ADMINISTRATION 
 3.1 General. The Committee shall be responsible for administration of the Plan. The Committee shall consist of members of the Board who are empowered hereunder to take actions in administration of the Plan. Members of the
Committee shall be appointed from time to time by the Board, shall serve at the pleasure of the Board and may resign at any time upon written notice to the Board. The Committee shall be so constituted that it satisfies the requirement of
“disinterested administration” imposed by Rule 16b-3 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as such rule may be amended from time to time, and each successor applicable rule
thereunder. The Committee shall determine the form or forms of the Option Certificates and other agreements with Option Holders that shall evidence the particular provisions, terms, conditions, rights and duties of UnitedGlobalCom and the Option
Holders with respect to Options granted pursuant to the Plan, which provisions need not be identical except as may be provided herein; provided, however, that Eligible Consultants shall not be eligible to receive Incentive Options. The Committee may
from time to time adopt such rules and regulations for carrying out the purposes of the Plan as it may deem proper and in the best interests of the Company. The Committee may correct any defect, supply any omission or reconcile any inconsistency in
the Plan or in any agreement entered into hereunder in the manner and to the extent it shall deem expedient and it shall be the sole and final judge of such expediency. No member of the Committee shall be liable for any action or determination made
in good faith. The determinations, interpretations and other actions of the Committee pursuant to the provisions of the Plan shall be binding and conclusive for all purposes and on all persons. 
  

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 ARTICLE IV 
 STOCK SUBJECT TO THE PLAN 
 4.1 Number of
Shares. The total number of Shares as to which Options may be granted pursuant to the Plan shall be an aggregate of 39,200,000 Shares, which may be any combination of Class A Stock or Class B Stock as the Committee shall determine in
its sole discretion; provided however, that no more than 3,000,000 Shares as to which Options may be granted may be Class B Stock. Such number shall be adjusted in accordance with the provisions of Section 4.2. Shares issued upon the exercise
of Options shall be applied to reduce the maximum number of Shares remaining available for use under the Plan. Shares underlying expired or terminated and unexercised Options are available for grant of Options under the Plan. Shares withheld by the
Company pursuant to Section 10.2 and Shares used to pay the Option Price are not available for the grant of Options under the Plan. The Company shall at all times during the term of the Plan and while any Options are outstanding retain as
authorized and unissued Stock, or as treasury Stock, at least the number of Shares from time to time required under the provisions of the Plan, or otherwise assure itself of its ability to perform its obligations hereunder. 
 4.2 Adjustments for Stock Split, Stock Dividend, Etc. If UnitedGlobalCom shall at any time increase or decrease the number of
its outstanding Shares by means of payment of a stock dividend or any other distribution upon such Shares payable in Stock, or through a stock split, subdivision, consolidation, combination, reclassification or recapitalization involving the Stock,
or change in any way the rights and privileges of such Shares, then the numbers, rights and privileges of the following shall be increased, decreased or changed in like manner as if the corresponding Shares had been issued and outstanding, fully
paid and nonassessable at the time of such occurrence: (a) the Shares as to which Options may be granted under the Plan; and (b) the Shares then subject to each outstanding Option. Upon any occurrence described in this Section 4.2,
the total Option Price under each then outstanding Option shall remain unchanged but shall be apportioned ratably over the increased or decreased number of Shares subject to the Option. 
 4.3 Other Distributions and Changes in the Stock. If 
 (a) UnitedGlobalCom shall at any time distribute with respect to its Stock assets or securities of other persons (excluding cash dividends
or distributions referred to in Section 4.2), shares of its capital stock (other than Stock), or evidences of indebtedness, or 
 (b) UnitedGlobalCom shall at any time grant to the holders of its Stock rights to subscribe pro rata for additional shares thereof or for any other securities of UnitedGlobalCom, or 
  

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 (c) there shall be any other change (except as described in Section 4.2) in the number
or kind of outstanding Shares or of any stock or other securities into which the Stock shall be changed or for which it shall have been exchanged, and if the Committee shall in its sole discretion determine that the event described in subsection
(a), (b), or (c) above equitably requires, in order to preserve the benefits intended to be made available, an adjustment in the number or kind of Shares subject to an Option, an adjustment in the Option Price or the taking of any other action
by the Committee, including without limitation, the setting aside of any property for delivery to the Participant upon the exercise of an Option or the full vesting of an Option, then such adjustments shall be made, or other action shall be taken,
by the Committee, as the Committee in its sole discretion shall deem appropriate, and shall be effective for all purposes of the Plan and on each outstanding Option that involves the particular type of stock for which a change was effected.

 4.4 No Rights as Stockholder. An Option Holder shall have none of the rights of a stockholder with respect to
the Shares subject to an Option until such Shares are transferred to the Option Holder upon the exercise of such Option. Except as provided in this Article IV, no adjustment shall be made for dividends, rights or other property distributed to
stockholders (whether ordinary or extraordinary) for which the record date is prior to the date such Shares are so transferred. 
 4.5 Fractional Shares. No adjustment or substitution provided for in this Article IV shall require UnitedGlobalCom to issue a fractional share. The total substitution or adjustment with respect to each Option shall be limited
by deleting any fractional share. 
 4.6 Determination by the Committee, Etc. Adjustments under this Article IV
shall be made by the Committee, whose determinations with regard thereto shall be final and binding. 
 ARTICLE V

 PARTICIPATION 
 5.1 In General. In accordance with the provisions of the Plan, the Committee shall, in its sole discretion, select Option Holders from among Eligible Employees and Eligible Consultants to
whom Options would be granted and shall specify the number of Shares subject to each Option and whether the Shares subject to such Option are Class A Stock or Class B Stock subject to each Option and such other terms and conditions of each
Option as the Committee may deem necessary or desirable and consistent with the terms of the Plan. Eligible Employees shall be selected from the employees of the Company who are performing services in the management, operation and growth of the
Company, and contribute, or are expected to contribute, to the achievement of long-term corporate objectives. Eligible Consultants shall be selected from the consultants and other individuals who provide services to the Company with respect to the
operation and growth of the Company and who contribute, or are expected to contribute, to the achievement of long-term corporate objectives. Eligible Employees and Eligible Consultants may be granted from time-to-time one or more Options. The grant
of each such Option shall be separately approved by the Committee, and receipt of one such Option shall not result in automatic receipt of any other Option. Upon determination by the Committee that an Option is to be granted to an Eligible Employee
or Eligible Consultant, written notice shall be given to such person, specifying the terms, conditions, rights and duties related thereto. 
 5.2 Maximum Share Grant. The maximum number of Shares of Class A Stock and Class B Stock in the aggregate that may be subject to all Options granted to an Option Holder in a calendar
year is 5,000,000 Shares. 
  

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 ARTICLE VI 
 STOCK OPTIONS 
 6.1 Grant of Options to Eligible
Employees and Eligible Consultants. Coincident with or following designation for participation in the Plan, Eligible Employees and Eligible Consultants may be granted one or more Options. The Committee in its sole discretion shall designate
whether an Option is an Incentive Option or a Non-Qualified Option. Incentive Stock Options may be granted only to Eligible Employees. The Committee may grant both an Incentive Option and a Non-Qualified Option to an Eligible Employee at the same
time or at different times. Incentive Options and Non-Qualified Options, whether granted at the same time or at different times, shall be deemed to have been awarded in separate grants and shall be clearly identified, and in no event shall the
exercise of one Option affect the right to exercise any other Option or affect the number of shares for which any other Option may be exercised. An Option shall be considered as having been granted on the date specified in the grant resolution of
the Committee. 
 6.2 Option Certificates. Each Option granted under the Plan shall be evidenced by a written
stock option certificate or agreement (an “Option Certificate”) issued by UnitedGlobalCom in the name of the Option Holder and in such form as may be approved by the Committee. The Option Certificate shall incorporate and conform to the
terms and conditions set forth herein as well as such other terms and conditions that are not inconsistent as the Committee may consider appropriate in each case. 
 6.3 Certain Option Terms. Options granted pursuant to the Plan shall have terms and conditions consistent with the following in addition to the terms and conditions set forth elsewhere
herein: 
 (a) Number of Shares. Each Option Certificate shall state that it covers a specified number of shares
of Stock and state whether the Stock covered is Class A Stock or Class B Stock, all as determined by the Committee. 
 (b)
Price. Each Option shall have an Option Price that is determined by the Committee. Incentive Stock Options shall have an Option Price that is equal to or greater than the Fair Market Value of the Stock on the date the Option is
granted. 
 (c) Duration of and Exercise of Options. Each Option Certificate shall state the period of time,
determined by the Committee, within which the Option may be exercised by the Option Holder (the “Option Period”). The Option Period must end, in all cases, not more than ten years from the date the Option is granted. Each Option shall
become exercisable (vest) over such period of time, as determined by the Committee. 
 (d) Termination of Employment or
Service, Death, Disability, Etc. The Committee may specify the period after which an Option may be exercised following termination of the employment of an Eligible Employee or termination of relationship with an Eligible Consultant. The
effect of this subsection 6.3(d) shall be limited to determining the consequences of a termination and nothing in this subsection 6.3(d) shall restrict or otherwise interfere with the Company’s discretion with respect to the termination of any
person’s employment or other relationship. If the Committee does not so specify, the following shall apply: 
 (i) If the
employment or consulting relationship of an Option Holder by or with the Company terminates for any reason other than death or Disability within six months after the date the Option is granted or if the employment or consulting relationship of the
Option Holder by or with the Company is terminated within the Option Period for cause, as determined by the Company, the Option shall thereafter be void for all purposes. As used in this subsection 6.3(d), “cause” shall mean a gross
violation, as determined by the Company, of the Company’s established policies and procedures. 
  

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 (ii) If the employment or consulting relationship of the Option Holder terminates because
the Option Holder becomes Disabled within the Option Period, the Option may be exercised by the Option Holder (or, in the case of his death after becoming disabled, by those entitled to do so under his will or by the laws of descent and
distribution) within one year following such termination (if otherwise within the Option Period), but not thereafter. In any such case, the Option may be exercised only as to the Shares as to which the Option had become exercisable on or before the
date of termination because of Disability. 
 (iii) If the Option Holder dies within the Option Period, while employed by the
Company, while a consultant to the Company or within the three-month period referred to in (iv) below, the Option may be exercised by those entitled to do so under his will or by the laws of descent and distribution within one year following
the his death (if otherwise within the Option Period), but not thereafter. In any such case the Option may be exercised only as to the Shares as to which the Option had become exercisable on or before the date of the Option Holder’s death.

 (iv) If the employment or consulting relationship of the Option Holder by or with the Company terminates within the Option
Period for any reason other than for cause, Disability or death, and such termination occurs more than six months after the Option is granted, any Incentive Option may be exercised by the Option Holder within three months following the date of such
termination (if otherwise within the Option Period), but not thereafter, and any Non-Qualified Option may be exercised by the Option Holder within one year following the date of such termination (if otherwise within the Option Period), but not
thereafter. 
 (e) Consideration for Grant of Option. The Committee may require each Eligible Employee who is
granted an Option to agree to remain in the employment of the Company, at the pleasure of the Company, for a continuous period of at least six months after the date an Option is granted, at the salary rate or other compensation in effect on the date
of such agreement or at such changed rate as may be fixed, from time to time, by the Company. Nothing in this paragraph shall offset or impair the Company’s right to terminate the employment of any employee. The Committee may require each
Eligible Consultant who is granted an Option to agree to comply with all of the terms and conditions or specified terms and conditions of the agreement between such Eligible Consultant and the Company. If an Option Holder violates any such
agreement, UnitedGlobalCom may, in its sole discretion, rescind the transfer of any Shares to the Option Holder pursuant to the exercise of any portion of the Option. Upon notice of any such rescission, the Option Holder will deliver promptly to the
Company certificates representing the Shares, duly endorsed for transfer to the Company. 
 (f) Exercise, Payments,
Etc. 
 (i) Manner of Exercise. The method for exercising each Option granted hereunder shall be by
delivery to UnitedGlobalCom of written notice specifying the number of Shares with respect to which such Option is exercised. The purchase of such Shares shall take place at the principal offices of UnitedGlobalCom within thirty days following
delivery of such notice, at which time the Option Price of the Shares shall be paid in full by any of the methods set forth below or a combination thereof. Except as set forth in the next sentence, the Option shall be exercised when the Option Price
for the number of shares as to which the Option is exercised is paid to UnitedGlobalCom in full. If the Option Price is paid by means of a broker’s loan transaction described in subsection 6.3(f)(ii)(D), in whole or in part, the closing of the
purchase of the Stock under the Option shall take place (and the Option shall be treated as exercised) on the date on which, and only if, the sale of Stock upon which the broker’s loan was based has been closed and settled, unless the Option
Holder makes an irrevocable written election, at the time of exercise of the Option, to have the exercise treated as fully effective for all purposes upon receipt of the Option Price by UnitedGlobalCom regardless of whether or not the sale of the
Stock by the broker is closed and settled. A properly executed certificate or certificates representing the Shares shall be delivered to or at the direction of the Option Holder upon payment therefor. If Options on less than all shares evidenced by
an Option Certificate are exercised, UnitedGlobalCom shall deliver a new Option Certificate evidencing the Option on the remaining shares upon delivery of the Option Certificate for the Option being exercised. 
  

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 (ii) Manner of Payment. To the extent permitted by applicable law (as
determined by the Committee in its sole discretion), the exercise price shall be paid by any of the following methods or any combination of the following methods at the election of the Option Holder, or by any other method approved by the Committee
upon the request of the Option Holder: 
 (A) in cash; 
 (B) by certified check, cashier’s check or other check acceptable to the Company, payable to the order of UnitedGlobalCom; 

(C) by delivery to UnitedGlobalCom of certificates representing the number of shares then owned by the Option Holder, the Fair Market
Value of which equals the purchase price of the Stock purchased pursuant to the Option, properly endorsed for transfer to UnitedGlobalCom; provided however, that no Option may be exercised by delivery to UnitedGlobalCom of certificates representing
Stock, unless such Stock has been held by the Option Holder for more than six months or such other period as specified by the Committee; for purposes of this Plan, the Fair Market Value of any shares of Stock delivered in payment of the purchase
price upon exercise of the Option shall be the Fair Market Value as of the exercise date; the exercise date shall be the day of delivery of the certificates for the Stock used as payment of the Option Price; or 
 (D) by delivery to UnitedGlobalCom of irrevocable instructions to a broker to deliver to UnitedGlobalCom promptly the amount of the
proceeds of the sale of all or a portion of the Stock or of a loan from the broker to the Option Holder required to pay the Option Price. 
 (g) Date of Grant. An Option shall be considered as having been granted on the date specified in the grant resolution of the Committee. 
 (h) Withholding.  
 (i) Non-Qualified Options. Upon exercise of an Option, the Option Holder shall make appropriate arrangements with the Company to provide for the amount of additional withholding required by
Sections 3102 and 3402 of the Code and applicable state income tax laws, including payment of such taxes through delivery of shares of Stock or by withholding Stock to be issued under the Option, as provided in Article X. 
 (ii) Incentive Options. If an Option Holder makes a disposition (as defined in Section 424(c) of the Code) of any Stock
acquired pursuant to the exercise of an Incentive Option prior to the expiration of two years from the date on which the Incentive Option was granted or prior to the expiration of one year from the date on which the Option was exercised, the Option
Holder shall send written notice to the Company at the Company’s principal place of business of the date of such disposition, the number of shares disposed of, the amount of proceeds received from such disposition and any other information
relating to such disposition as the Company may reasonably request. The Option Holder shall, in the event of such a disposition, make appropriate arrangements with the Company to provide for the amount of additional withholding, if any, required by
Sections 3102 and 3402 of the Code and applicable state income tax laws. 
  

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 6.4 Restrictions on Incentive Options.  
 (a) Initial Exercise. The aggregate Fair Market Value of the Shares with respect to which Incentive Options are exercisable
for the first time by an Option Holder in any calendar year, under the Plan or otherwise, shall not exceed $100,000. For this purpose, the Fair Market Value of the Shares shall be determined as of the date of grant of the Option. 
 (b) Ten Percent Stockholders. Incentive Options granted to an Option Holder who owns, directly and indirectly (within the
meaning of Section 424(d) of the Code), 10% or more of the total combined voting power of all classes of stock of UnitedGlobalCom shall have an Option Price equal to 110% of the Fair Market Value of the Shares on the date of grant of the Option
and the Option Period for any such Option shall not exceed five years. 
 6.5 Shareholder Privileges. No Option
Holder shall have any rights as a shareholder with respect to any shares of Stock covered by an Option until the Option Holder becomes the holder of record of such Stock, and no adjustments shall be made for dividends or other distributions or other
rights as to which there is a record date preceding the date such Option Holder becomes the holder of record of such Stock, except as provided in Article IV. 
 6.6 Shares Subject to Option. The Committee may in its sole and absolute discretion, amend a previously granted Option (provided that such Option was granted after December 3, 2001) to
provide that the shares of Stock covered by such Option shall be Class B Stock or that, upon exercise of the Option, the Option Holder will be issued shares of Class B Stock in lieu of shares of Class A Stock. Such amendment may be made in
whole or in part with respect to the number of shares of Stock underlying the Option. Notwithstanding the foregoing, no such amendment shall be effective without the consent of the Option Holder. 
 All other terms of the Option shall remain in effect. If an Option is amended pursuant to the first sentence of this section, the number of
shares of Class A Stock that are no longer covered by the Option or that were not issued upon exercise of the Option shall again be available for grant under the Plan, and the number of shares of Class B Stock that are covered by the Option or
that are issued upon exercise of the Option shall reduce the number of shares of Class B Stock available for grant under the Plan. 
 ARTICLE VII 
 CHANGE IN CONTROL; CORPORATE REORGANIZATION 
 7.1 Change in Control. 
 (a) If a Change in Control (as defined below) occurs under (c)(i) below without the prior approval of at least a majority of the members of the Board unaffiliated with such person or under (c)(ii) below,
all Options shall become exercisable in full, regardless of whether all conditions of exercise relating to length of service have been satisfied and shall remain so, whether or not Option Holder remains an employee or consultant of the Company.

  

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 (b) If a Change in Control (as defined below) occurs under (c)(i) below with the prior
approval of at least a majority of the members of the Board unaffiliated with such person and (i) the Option Holder’s employment is terminated within six (6) months after such Change of Control or (ii) the Option Holder is
assigned duties materially different in any respect to such Option Holder’s duties, authority or responsibilities prior to such Change of Control, all Options shall become exercisable in full, regardless of whether all conditions of exercise
relating to length of service have been satisfied and shall remain so, whether or not Option Holder remains an employee or consultant of the Company. 
 (c) “Change in Control” is deemed to have occurred if (i) a person (as such term is used in Section 13(d) of the Exchange Act) becomes the beneficial owner (as defined in Rule 13d-3
under the Exchange Act) of shares of UnitedGlobalCom having more than 50% of the total number of votes that may be cast for the election of directors of UnitedGlobalCom and after such acquisition such person has the ability, through share ownership
contract or otherwise, to elect persons constituting a majority of the Board; or (ii) individuals who constitute the directors of UnitedGlobalCom at the beginning of a 24-month period (together with any new or replacement directors as approved
by a vote of at least a majority of the members of the Board in office immediately prior to such period and of the new and replacement directors so approved) cease to constitute at least 2/3 of all directors at any time during such period; provided,
however, any increased ownership by Liberty Media Corporation or its wholly-owned subsidiaries pursuant to the terms set forth in that certain Agreement dated as of May 25, 2001, among UnitedGlobalCom, Liberty Media Corporation and Liberty
Media International, Inc., shall not be deemed a Change in Control for purposes of this Plan. 
 7.2
Reorganization. If a Change in Control has not occurred and one of the following events has occurred and if the notice required by Section 7.3 shall have first been given, the Plan and all Options then outstanding hereunder shall
automatically terminate and be of no further force and effect whatsoever, without the necessity for any additional notice or other action by the Board or UnitedGlobalCom: (a) the merger or consolidation of UnitedGlobalCom with or into another
corporation (other than a consolidation or merger in which UnitedGlobalCom is the continuing corporation and which does not result in any reclassification or change of outstanding shares of stock; or (b) the sale or conveyance of the property
of UnitedGlobalCom as an entirety or substantially as an entirety (other than a sale or conveyance in which UnitedGlobalCom continues as holding company of an entity or entities that conduct the business or business formerly conducted by
UnitedGlobalCom); or (c) the dissolution or liquidation of UnitedGlobalCom. 
 7.3 Required Notice. At least
30 days’ prior written notice of any event described in Section 7.2 shall be given by UnitedGlobalCom to each Option Holder, unless in the case of the events described in clauses (a) or (b) of Section 7.2, UnitedGlobalCom,
or the successor or purchaser, as the case may be, shall make adequate provision for the assumption of the outstanding Options or the substitution of new options for the outstanding Options on terms comparable to the outstanding Options, except that
the Option Holder shall have the right thereafter to purchase the kind and amount of securities or property or cash receivable upon such merger, consolidation, sale or conveyance by a holder of the number of Shares that would have been receivable
upon exercise of the Option immediately prior to such merger, consolidation, sale or conveyance (assuming such holder of Stock failed to exercise any rights of election and received per share the kind and amount received per share by a majority of
the non-electing shares). The provisions of this Article VII shall similarly apply to successive mergers, consolidations, sales or conveyances. Such notice shall be deemed to have been given when delivered personally to an Option Holder or when
mailed to an Option Holder by registered or certified mail, postage prepaid, at such Option Holder’s address last known to the Company. 
  

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 7.4 Acceleration of Exercisability. Option Holders notified in accordance with
Section 7.3 may exercise their Options at any time before the occurrence of the event requiring the giving of notice (but subject to occurrence of such event), regardless of whether all conditions of exercise relating to length of service have
been satisfied. 
 ARTICLE VIII 
 EMPLOYMENT; TRANSFERABILITY 
 8.1 Service. Nothing contained
in the Plan or in any Option granted under the Plan shall confer upon any Option Holder any right with respect to the continuation of his employment by, or consulting relationship with, the Company, or interfere in any way with the right of the
Company, subject to the terms of any separate employment agreement or other contract to the contrary, at any time to terminate such services or to increase or decrease the compensation of the Participant from the rate in existence at the time of the
grant of an Option. Whether an authorized leave of absence, or absence in military or government service, shall constitute a termination of service shall be determined by the Committee at the time of its occurrence. 
 8.2 Other Employee Benefits. The amount of any compensation deemed to be received by an Option Holder as a result of the
exercise of an Option shall not constitute “earnings” with respect to which any other employee benefits of such person are determined, including without limitation benefits under any pension, profit sharing, life insurance or salary
continuation plan. 
 8.3 Transferability. 
 (a) General Rule: No Lifetime Transfers. An Option shall not be transferable by the Option Holder except by will
or pursuant to the laws of descent and distribution. An Option shall be exercisable during the Option Holder’s lifetime only by him or her, or in the event of Disability or incapacity, by his or her guardian or legal representative. The Option
Holder’s guardian or legal representative shall have all of the rights of the Option Holder under this Plan. 
 (b)
InterVivos Transfer to Certain Family Members. The Committee may, however, provide at the time of grant or thereafter that the Option Holder may transfer a Non-Qualified Option to a member of the Option Holder’s immediate family,
a trust of which members of the Option Holder’s immediate family are the only beneficiaries, or a partnership of which members of the Option Holder’s immediate family or trusts for the sole benefit of the Option Holder’s immediate
family are the only partners (the “InterVivos Transferee”). Immediate family means the Option Holder’s spouse, issue (by birth or adoption), parents, grandparents, siblings (including half brothers and sisters and adopted siblings)
and nieces and nephews. No transfer shall be effective unless the Option Holder shall have notified the Company of the transfer in writing and has furnished a copy of the documents that effect the transfer to the Company. The InterVivos Transferee
shall be subject to all of the terms of this Plan and the Option, including, but not limited to, the vesting schedule, termination provisions, and the manner in which the Option may be exercised. The Committee may require the Option Holder and the
InterVivos Transferee to enter into an appropriate agreement with the Company providing for, among other things, the satisfaction of required tax withholding with respect to the exercise of the transferred Option and the satisfaction of any Stock
retention requirements applicable to the Option Holder, together with such other terms and conditions as may be specified by the Committee. Except to the extent provided otherwise in such agreement, the InterVivos Transferee shall have all of the
rights and obligations of the Option Holder under this Plan; provided that the InterVivos Transferee shall not have any Stock withheld to pay withholding taxes pursuant to Section 10.2 unless the agreement referred to in the preceding sentence
specifically provides otherwise. 
  

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 (c) No Transfer of ISOs. During the Option Holder’s lifetime the Option
Holder may not transfer an Incentive Option under any circumstances. 
 (d) No Assignment. No right or interest of
any Option Holder in an Option granted pursuant to the Plan shall be assignable or transferable during the lifetime of the Option Holder, either voluntarily or involuntarily, or be subjected to any lien, directly or indirectly, by operation of law,
or otherwise, including execution, levy, garnishment, attachment, pledge or bankruptcy, except as set forth above. 
 ARTICLE
IX 
 GENERAL RESTRICTIONS 
 9.1 Investment Representations. UnitedGlobalCom may require any person to whom an Option is granted, as a condition of exercising such Option, to give written assurances in substance and
form satisfactory to UnitedGlobalCom and its counsel to the effect that such person is acquiring the Stock for his own account for investment and not with any present intention of selling or otherwise distributing the same, and to such other effects
as UnitedGlobalCom deems necessary or appropriate in order to comply with Federal and applicable state securities laws. Legends evidencing such restrictions may be placed on the Stock certificates. 
 9.2 Compliance with Securities Laws. Each Option shall be subject to the requirement that, if at any time counsel to
UnitedGlobalCom shall determine that the listing, registration or qualification of the shares subject to such Option upon any securities exchange or under any state or federal law, or the consent or approval of any governmental or regulatory body,
is necessary as a condition of, or in connection with, the issuance or purchase of shares thereunder, such Option may not be accepted or exercised in whole or in part unless such listing, registration, qualification, consent or approval shall have
been effected or obtained on conditions acceptable to the Committee. Nothing herein shall be deemed to require UnitedGlobalCom to apply for or to obtain such listing, registration or qualification. 
 9.3 Changes in Accounting Rules. Except as provided otherwise at the time an Option is granted, notwithstanding any other
provision of the Plan to the contrary, if, during the term of the Plan, any changes in the financial or tax accounting rules applicable to Options shall occur which, in the sole judgment of the Committee, may have a material adverse effect on the
reported earnings, assets or liabilities of the Company, the Committee shall have the right and power to modify as necessary, any then outstanding and unexercised Options as to which the applicable services or other restrictions have not been
satisfied. 
  

 12 

 ARTICLE X 
 WITHHOLDING 
 10.1 Withholding
Requirement. UnitedGlobalCom’s obligations to deliver shares of Stock upon the exercise of any Option shall be subject to the Option Holder’s satisfaction of all applicable federal, state and local income and other tax withholding
requirements. 
 10.2 Withholding With Stock. At the time the Committee grants an Option or at any time
thereafter, it may, in its sole discretion, grant the Option Holder an election to pay all such amounts of tax withholding, or any part thereof, by electing (a) to have UnitedGlobalCom withhold from shares otherwise issuable to the Option
Holder, shares of Stock having a value equal to the amount required to be withheld or such lesser amount as may be elected by the Option Holder; provided however, that the amount of Stock so withheld shall not exceed the minimum amount required to
be withheld under the method of withholding that results in the smallest amount of withholding, or (b) to transfer to UnitedGlobalCom a number of shares of Stock that were acquired by the Option Holder more than six months prior to the transfer
to UnitedGlobalCom and that have a value equal to the amount required to be withheld or such lesser amount as may be elected by the Option Holder. All elections shall be subject to the approval or disapproval of the Committee. The value of shares of
Stock to be withheld shall be based on the Fair Market Value of the Stock on the date that the amount of tax to be withheld is to be determined (the “Tax Date”). Any such elections by Option Holders to have shares of Stock withheld for
this purpose will be subject to the following restrictions: 
 (a) All elections must be made prior to the Tax Date. 

(b) All elections shall be irrevocable. 
 (c) If the Option Holder is an officer or director of UnitedGlobalCom within the meaning of Section 16 of the 1934 Act (“Section 16”), the Option Holder must satisfy the requirements of
such Section 16 and any applicable Rules thereunder with respect to the use of Stock to satisfy such tax withholding obligation. 
 ARTICLE XI 
 MISCELLANEOUS 
 11.1 Expiration. The Plan shall terminate whenever the Board adopts a resolution to that effect. If not sooner terminated by the Board, the Plan shall terminate and expire on June 1,
2003. After termination, no additional Options shall be granted under the Plan, but the Company shall continue to recognize Options previously granted. 
 11.2 Amendments, Etc. The Board may from time to time amend, modify, suspend or terminate the Plan. Nevertheless, no such amendment, modification, suspension or termination shall, without
the consent of the Option Holder, impair any Option previously granted under the Plan or deprive any Option Holder of any Shares that he may have acquired through or as a result of the Plan. 
 11.3 Treatment of Proceeds. Proceeds from the sale of Stock pursuant to Options granted under the Plan shall constitute
general funds of UnitedGlobalCom. 
  

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 11.4 Section Headings. The section headings are included herein only for
convenience, and they shall have no effect on the interpretation of the Plan. 
 11.5 Severability . If any
article, section, subsection or specific provision is found to be illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining provisions of the Plan, and the Plan shall be construed and enforced as if such illegal
and invalid provision had never been set forth in the Plan. 
 11.6 Gender and Number. Except when otherwise
indicated by the context, the masculine gender shall include the feminine gender, and the definition of any term herein in the singular shall also include the plural. 
 Amended and Restated as of January 22, 2004. 
  

			
	 UNITEDGLOBALCOM, INC.

	    a Delaware corporation
		
	By:	 	 /s/ Ellen P. Spangler

  

 14

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