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Exhibit 10.8  

 
  NEUSTAR, INC.
  1999 EQUITY INCENTIVE PLAN
  AS RESTATED AS OF APRIL 4, 2005    
    

1.     Purpose

        The
purpose of the Plan is to provide a means through which the Company may attract able persons to become and remain directors of the Company, act as consultants to the Company or enter
and remain in the employ of the Company and to provide a means whereby employees, directors and consultants of the Company can acquire and maintain Common Stock ownership, or be paid incentive
compensation measured by reference to the value of Common Stock, thereby strengthening their commitment to the welfare of the Company and promoting an identity of interest between stockholders and
these employees, directors and consultants. 

2.     Definitions

        The
following definitions shall be applicable throughout the Plan. 

        (a)     "Award"
means, individually or collectively, any Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted
Stock Award, Phantom Stock Unit Award, Performance Share Unit Award, Stock Bonus Award or other right or benefit granted in accordance with the terms and purpose of the Plan. 

        (b)     "Award
Period" means a period of time within which performance is measured for the purpose of determining whether Performance Share Units
have been earned. 

        (c)     "Award
Agreement" means the written agreement evidencing the grant of an Award executed by NeuStar and the Participant, including any
amendments thereto. 

        (d)     "Board"
means the Board of Directors of NeuStar. 

        (e)     "Cause"
means, in connection with an existing employment, consulting or any other agreement between the Participant and the Company, the
Company having "Cause", as defined in such agreement, to terminate a Participant's Service in accordance with the provisions of such agreement or, in the absence of such an employment, consulting or
other agreement, upon (i) the determination by the Committee that the Participant has ceased to perform his duties to the Company (other than as a result of his incapacity due to physical or
mental illness or injury), which failure amounts to intentional and extended neglect of his duties, (ii) acts of the Participant, which, in the judgment of the Committee, constitute fraud on
the part of the Participant in connection with his duties to the Company, including but not limited to, misappropriation or embezzlement as an employee, director or consultant, or willfully engaging
in conduct materially injurious to the Company, (iii) misconduct, including but not limited to the failure of the Participant to comply with lawful written instruction of the Company after
30 days notice in writing of the Participant's failure to do so and the intention of the Company to terminate the Participant's Service if such failure is not corrected (during which
30-day period, no Award issued to the Holder under the Plan may be exercised or purchased) or (iv) the Participant having plead no contest to a charge of a felony or having been
convicted of a felony, other than a traffic offense. 

        (f)      "Code"
means the Internal Revenue Code of 1986, as amended. Reference in the Plan to any section of the Code shall be deemed to include any
amendments or successor provisions to such section and any regulations under such section. 

        (g)     "Committee"
means the full Board, the Compensation Committee of the Board or such other committee as the Board may appoint to administer the
Plan. 

        (h)     "Common
Stock" means the common stock, par value $0.002 per share, of NeuStar or, in the discretion of the Committee, of any Related Entity. 

 

        (i)      "Company"
means NeuStar or any Related Entity. 

        (j)      "Date
of Grant" means the date on which the granting of an Award is authorized or such other date as may be specified in such authorization. 

        (k)     "Disability"
means the complete and permanent inability by reason of illness or accident to perform the duties of the occupation at which a
Participant was employed or served when such disability commenced or, if the Participant was retired when such disability commenced, the inability to engage in any substantial gainful activity, in
either case as determined by the Committee based upon medical evidence acceptable to it. 

        (l)      "Eligible
Person" means any (i) person regularly employed by the Company; provided, however, that no
such employee covered by a collective bargaining agreement shall be an Eligible Person unless and to the extent that such eligibility is set forth in such collective bargaining agreement or in an
agreement or instrument relating thereto; (ii) director of the Company; or (iii) consultant to the Company. 

        (m)    "Exchange
Act" means the Securities Exchange Act of 1934. 

        (n)     "Fair
Market Value" on a given date means (i) if the Common Stock is listed on a national securities exchange, the mean between the
highest and lowest sale prices reported as having occurred on the primary exchange with which the Common Stock is listed and traded on the date prior to such date, or, if there is no such sale on that
date, then on the last preceding date on which such a sale was reported; (ii) if the Common Stock is not listed on any national securities exchange but is quoted in the National Market System
of the National Association of Securities Dealers Automated Quotation System on a last sale basis, the average between the high sale and low sale price reported on such System on the date prior to
such date, or, if there is no such sale on that date, then on the last preceding date on which a sale was reported; (iii) if the Common Stock is not listed on a national securities exchange nor
quoted in the National Market System of the National Association of Securities Dealers Automated Quotation System on a last sale basis, the amount determined by the Committee to be the fair market
value based upon a good faith attempt to value the Common Stock accurately; or (iv) notwithstanding clauses (i)—(iii) above, with respect to Awards granted as of the
consummation of an IPO, the price at which Common Stock is sold to the public in the IPO. 

        (o)     "Holder"
means a Participant who has been granted an Award. 

        (p)     "Incentive
Stock Option" means an Option granted by the Committee to a Participant under the Plan which is designated by the Committee as an
Incentive Stock Option pursuant to Section 422 of the Code. 

        (q)     "IPO"
means the initial offering of Common Stock to the public through an effective registration statement. 

        (r)     "NeuStar"
means NeuStar, Inc., a Delaware corporation formerly known as NeuStar Corporation, and any successor thereto. 

        (s)     "Non-Employee
Director" means a "non-employee director" within the meaning of Rule 16b-3 of the
Exchange Act or any successor rule or regulation. 

        (t)      "Nonqualified
Stock Option" means an Option granted under the Plan which is not designated as an Incentive Stock Option. 

        (u)     "Normal
Termination" means a termination of Service with the Company: 

	(i)
	Upon
retirement pursuant to the retirement plan of the Company, as may be applicable at the time to the Participant in question;

	(ii)
	With
the written approval of the Committee; or 

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	(iii)
	By
the Company without Cause.

	(v)
	"Option"
means an Award granted under Section 7 of the Plan. 

        (w)    "Option
Period" means the period described in Section 7(c). 

        (x)     "Option
Price" means the exercise price set for an Option described in Section 7(a). 

        (y)     "Parent"
means a "parent corporation", whether now or hereafter existing, as defined in Section 424(e) of the Code. 

        (z)     "Participant"
means an Eligible Person who has been selected by the Committee to participate in the Plan and to receive an Award. 

        (aa)   "Performance
Goals" means the performance objectives during an Award Period or Restricted Period established by the Committee for the
purpose of determining whether, and to what extent, Awards will be earned for an Award Period or Restricted Period. 

        (bb)   "Performance
Share Unit" means a hypothetical investment equivalent equal to one share of Common Stock granted in connection with an Award
made under Section 9 of the Plan. 

        (cc)   "Phantom
Stock Unit" means a hypothetical investment equivalent equal to one share of Common Stock granted in connection with an Award made
under Section 10 of the Plan. 

        (dd)   "Plan"
means the NeuStar, Inc. 1999 Equity Incentive Plan, as may be amended from time to time. 

        (ee)   "Qualified
Committee" means a committee composed of at least two Qualified Directors. 

        (ff)    "Qualified
Director" means a person who is (i) a Non-Employee Director and (ii) an "outside director" within the
meaning of Section 162(m) of the Code. 

        (gg)   "Related
Entity" means any Parent, Subsidiary and any business, corporation, partnership, limited liability company or other entity in
which NeuStar, a Parent or a Subsidiary holds or comes to hold a substantial ownership interest, directly or indirectly, and which the Board designates as a Related Entity. 

        (hh)   "Restricted
Period" means, with respect to any share of Restricted Stock or any Phantom Stock Unit, the period of time determined by the
Committee during which such Award is subject to the restrictions set forth in Section 10. 

        (ii)     "Restricted
Stock" means shares of Common Stock issued or transferred to a Participant subject to forfeiture and the other restrictions set
forth in Section 10. 

        (jj)     "Restricted
Stock Award" means an Award of Restricted Stock granted under Section 10 of the Plan. 

        (kk)   "Securities
Act" means the Securities Act of 1933, as amended. 

        (ll)     "Service"
means the provision of services to the Company in any capacity of employee, director or consultant. Service or employment shall
not be considered interrupted or terminated in the case of (i) any approved leave of absence, (ii) transfers within or between any Company entity, whether or not geographic in nature, or
(iii) any change in status so long as the individual remains in the service or employment of any Company in any capacity (except as otherwise provided in an Award Agreement). An approved leave
of absence shall include sick leave, military leave, or any other authorized personal leave. For purposes of each Incentive Stock Option, if such leave exceeds ninety (90) days, and
reemployment upon expiration of such leave is not guaranteed by statute or contract, then the Incentive Stock Option shall be treated as a Non-Qualified Stock Option on the day three
(3) months and one (1) day following the expiration of such ninety (90) day period. 

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        (mm) "Stock
Appreciation Right" or "SAR" means an Award granted under Section 8 of the Plan. 

        (nn)   "Stock
Bonus" means an Award granted under Section 11 of the Plan. 

        (oo)   "Stock
Option Agreement" means the agreement between the Company and a Participant who has been granted an Option pursuant to
Section 7 which defines the rights and obligations of the parties as required in Section 7(d). 

        (pp)   "Subsidiary"
means a "subsidiary corporation", whether now or hereafter existing, as defined in Section 424(f) of the Code. 

        (qq)   "Vested
Unit" shall have the meaning ascribed thereto in Section 10(e). 

3.     Effective Date, Duration and Shareholder Approval

        The
Plan is effective as of November 23, 1999, the date of adoption of the Plan by the Board and as thereafter amended and restated as of April 4, 2005. The effectiveness
of the Plan and the validity of any and all Awards granted pursuant to the Plan is contingent upon approval of the Plan by the stockholders of the Company in a manner which complies with
(i) Section 422(b)(1) and, to the extent provided in Section 16 herein, Section 162(m) of the Code and (ii) the requirements of the primary national securities
exchange with which the Common Stock is listed, if so listed, and/or the National Market System of the National Association of Securities Dealers Automated Quotation System, if the Common Stock is
quoted thereon. Unless and until the stockholders approve the Plan in compliance with the applicable requirements, no Award granted under the Plan shall be effective. 

        The
expiration date of the Plan, after which no Awards may be granted hereunder, shall be November 23, 2009; provided, however, that the
administration of the Plan shall continue in effect until all matters relating to the payment of Awards previously granted have been settled. 

4.     Administration

        The
Committee shall administer the Plan; provided, however, that as of and after the date the Company first becomes subject to Section 16 of the
Exchange Act, the Plan shall be administered by the full Board or a committee of the Board composed of at least two persons, each member of which, at the time he takes any action with respect to an
Award under the Plan, shall be a Non-Employee Director; and further provided, that as of and after the date that the exemption for the Plan under
Section 162(m) of the Code expires, as set forth in Section 16 herein, to the extent that the Company determines that an Award is intended to comply with Section 162(m) of the
Code, the Plan shall be administered by a Qualified Committee. The majority of the members of the Committee shall constitute a quorum. The acts of a majority of the members present at any meeting at
which a quorum is present or acts approved in writing by a majority of the Committee shall be deemed the acts of the Committee. 

        Subject
to the provisions of the Plan, the Committee shall have exclusive power to: 

        (a)   Select
the Eligible Persons to participate in the Plan; 

        (b)   Determine
the nature and extent of the Awards to be made to each Participant; 

        (c)   Determine
the time or times when Awards will be made to Participants; 

        (d)   Determine
the duration of each Award Period and Restricted Period; 

        (e)   Determine
the conditions to which the payment of Awards may be subject; 

        (f)    Establish
the Performance Goals for each Award Period; 

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        (g)   Prescribe
the form of Stock Option Agreement or other form or forms evidencing Awards; and 

        (h)   Cause
records to be established in which there shall be entered, from time to time as Awards are made to Participants, the date of each Award, the number of Incentive
Stock Options, Nonqualified Stock Options, SARs, Phantom Stock Units, Performance Share Units, shares of Restricted Stock and Stock Bonuses awarded by the Committee to each Participant, the expiration
date, the Award Period and the duration of any applicable Restricted Period. 

        The
Committee shall have the authority, subject to the provisions of the Plan, to establish, adopt, or revise such rules and regulations and to make all such determinations relating to
the Plan as it may deem necessary or advisable for the administration of the Plan. The Committee's interpretation of the Plan or any documents evidencing Awards granted pursuant thereto and all
decisions and determinations by the Committee with respect to the Plan shall be final, binding, and conclusive on all parties unless otherwise determined by the Board. 

5.     Grant of Awards; Shares Subject to the Plan

        The
Committee may, from time to time, and to the extent consistent with the terms of the Plan, grant Awards to one or more Eligible Persons; provided,
however, that: 

        (a)   Subject
to Section 13, the aggregate number of shares of Common Stock made subject to all Awards may not exceed 12,245,506 shares; 

        (b)   Any
shares of Common Stock covered by an Award (or portion of an Award) which is forfeited or canceled, expires or is settled in cash, shall be deemed not to have been
issued for purposes of determining the maximum aggregate number of shares of Common Stock which may be issued under the Plan. If any unissued shares of Common Stock are retained by the Company upon
exercise of an Award in order to satisfy the exercise price for such Award or any withholding taxes due with respect to such Award, such retained shares of Common Stock subject to such Award shall
become available for future issuance under the Plan (unless the Plan has terminated). Shares of Common Stock that actually have been issued under the Plan pursuant to an Award shall not be returned to
the Plan and shall not become available for future issuance under the Plan, except that if unvested shares of Common Stock are forfeited, or repurchased by the Company at their original purchase
price, such shares of Common Stock shall become available for future grant under the Plan; 

        (c)   Shares
of Common Stock delivered by the Company in settlement of Awards under the Plan may be authorized and unissued Common Stock or Common Stock held in the treasury
of the Company or may be purchased on the open market or by private purchase; 

        (d)   Subject
to Section 13 of the Plan, following the date that the exemption from the application of Section 162(m) of the Code described in Section 16
(or any other exemption having similar effect) ceases to apply to Awards, no Participant may receive Options or SARs under the Plan with respect to more than 1,500,000 shares of Common Stock in any
one year; and 

        (e)   The
Committee may, in its sole discretion, require a Participant to pay consideration for an Award in an amount and in a manner as the Committee deems appropriate. 

        (f)    Notwithstanding
the foregoing, at any such time as the offer and sale of securities pursuant to the Plan is subject to compliance with Rule 260.140.45 of the
California Code of Regulations, the total number of shares issuable upon exercise of all outstanding Options and the total number of shares provided for under any Stock Bonus or similar plan or
agreement of the Company shall not exceed the applicable percentage as calculated in accordance with the conditions and exclusions of Rule 260.140.45, based on the securities of the Company
that are outstanding at the time the calculation is made. 

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6.     Eligibility

        Participation
shall be limited to Eligible Persons who have received written notification from the Committee, or from a person designated by the Committee, that they have been selected
to participate in the Plan. 

7.     Discretionary Grant of Stock Options

        The
Committee is authorized to grant one or more Incentive Stock Options or Nonqualified Stock Options to any Eligible Person; provided, however, that no
Incentive Stock Options shall be granted to any Eligible Person who is not an employee of NeuStar, or a Parent or Subsidiary of NeuStar. Each Option so granted shall be subject to the following
conditions, or to such other conditions as may be reflected in the applicable Stock Option Agreement. If a Participant granted an Incentive Stock Option changes status from an employee to a
consultant, such Incentive Stock Option, to the extent not exercised within three (3) months of the change in status, shall revert to a Nonqualified Stock Option. 

        (a)   Option price.    The exercise price ("Option Price") per share of Common Stock for each Option shall be set by
the Committee at the time of grant but shall not be less than the Fair Market Value of a share of Common Stock at the Date of Grant. 

        (b)   Manner of exercise and form of payment.    Options which have become exercisable may be exercised by delivery
of written notice of exercise to the Committee accompanied by payment of the Option Price. The Option Price shall be payable in cash and/or shares of Common Stock valued at the Fair Market Value at
the time the Option is exercised or, in the discretion of the Committee (which, in the case of an Incentive Stock Option, shall be determined at the time of grant), either (i) in other property
having a fair market value on the date of exercise equal to the Option Price, or (ii) to the extent permitted by law, by delivering to the Committee a copy of irrevocable instructions to a
stockbroker to deliver promptly to the Company an amount of sale or loan proceeds sufficient to pay the Option Price; provided, however, that the Holder may use Common
Stock in payment of the exercise price only if the shares so used are considered "mature" for purposes of generally accepted accounting principles
(i.e., (i) been held by the Holder free and clear for at least six (6) months prior to the use thereof to pay part of an Option exercise
price, (ii) been purchased by the Holder in other than a compensatory transaction, or (iii) meet any other requirements for "mature" shares as may exist on the date of the use thereof to
pay part of an Option exercise price). 

        (c)   Option Period and Expiration.    Options shall vest and become exercisable in such manner and on such date or
dates determined by the Committee and shall expire after such period, not to exceed ten years from the Date of Grant, as may be determined by the Committee (the "Option Period");
provided, however, that notwithstanding any vesting dates set by the Committee, the Committee may in its sole discretion accelerate the exercisability of any Option, which
acceleration shall not affect the terms and conditions of any such Option other than with respect to exercisability. If an Option is exercisable in installments, such installments or portions thereof
which become exercisable shall remain exercisable until the Option expires. Unless otherwise stated in the applicable Option Agreement, the Option shall expire earlier than the end of the Option
Period in the following circumstances: 

	(i)
	If
prior to the end of the Option Period, the Holder shall undergo a Normal Termination, the Option shall expire on the earlier of the last day of the Option Period or
the date that is three (3) months after the date of such Normal Termination. In such event, the Option shall remain exercisable by the Holder until its expiration, only to the extent the Option
was exercisable at the time of such Normal Termination.

	(ii)
	If
the Holder dies or becomes disabled prior to the end of the Option Period and while still in the Service of the Company or within three (3) months of a Normal
Termination, 

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the
Option shall expire on the earlier of the last day of the Option Period or the date that is one year after the date of death or disability of the Holder. In such event, the Option shall remain
exercisable by the Participant or Participant's legal representative, or, in the case of death, the person or persons to whom the Holder's rights under the Option pass by will or the applicable laws
of descent and distribution until its expiration, only to the extent the Option was exercisable by the Holder at the time of death or disability. 

	(iii)
	If
the Holder ceases Service with the Company for reasons other than a termination for Cause, Normal Termination, death or disability, the Option shall expire on the
earlier of the last day of the Option Period or the date that is thirty days after the date of such cessation of Service.

	(iv)
	If
the Holder's Service with the Company is terminated for Cause, the Option shall expire immediately upon first notification to the Holder of such termination, unless
the Committee determines otherwise. If a Holder's Service with the Company is suspended pending an investigation of whether the Holder shall be terminated for Cause, all the Participant's rights under
any Option likewise shall be suspended during the period of investigation. 

        (d)   Stock Option Agreement—Other Terms and Conditions.    Each Option granted under the Plan shall be
evidenced by a Stock Option Agreement, which shall contain such provisions as may be determined by the Committee and which shall be subject to the following terms and conditions: 

	(i)
	Each
Option issued pursuant to this Section 7 or portion thereof that is exercisable shall be exercisable for the full amount or for any part thereof.

	(ii)
	Each
share of Common Stock purchased through the exercise of an Option issued pursuant to this Section 7 shall be paid for in full at the time of the exercise.
Each Option shall cease to be exercisable, as to any share of Common Stock, when the Holder purchases the share or exercises a related SAR or when the Option expires.

	(iii)
	Subject
to Section 12(k), Options issued pursuant to this Section 7 shall not be transferable by the Holder except by will or the laws of descent and
distribution and shall be exercisable during the Holder's lifetime only by him or, in the case of disability, his legal representative.

	(iv)
	Each
Option issued pursuant to this Section 7 shall vest and become exercisable by the Holder in accordance with the vesting schedule established by the
Committee and set forth in the Stock Option Agreement; provided, however, that each Option granted to a Participant who resides in the state of California shall, for so
long as such Participant resides in California, vest at the rate of at least 20% per year over five years from the Date of Grant. Notwithstanding anything in this subsection (d)(iv) to the
contrary, in the case of an Option granted to an officer, director, manager or consultant of the Company, the Option may vest and become exercisable at any time or during any period established by the
Committee.

	(v)
	Each
Stock Option Agreement may contain a provision that, upon demand by the Committee for such a representation, the Holder shall deliver to the Committee at the time
of any exercise of an Option issued pursuant to this Section 7 a written representation that the shares to be acquired upon such exercise are to be acquired for investment and not for resale or
with a view to the distribution thereof. Upon such demand, delivery of such representation prior to the delivery of any shares issued upon exercise of an Option issued pursuant to this
Section 7 shall be a condition precedent to the right of the Holder or such other person to purchase any shares. In the event certificates for Common Stock are delivered under the Plan with
respect to which such 

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investment
representation has been obtained, the Committee may cause a legend or legends to be placed on such certificates to make appropriate reference to such representation and to restrict transfer
in the absence of compliance with applicable federal or state securities laws. 

	(vi)
	Each
Incentive Stock Option Agreement shall contain a provision requiring the Holder to notify the Company in writing immediately after the Holder makes a disqualifying
disposition of any Common Stock acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including any sale) of such Common Stock before the
later of (a) two years after the Date of Grant of the Incentive Stock Option or (b) one year after the date the Holder acquired the Common Stock by exercising the Incentive Stock Option. 

        (e)   Incentive Stock Option Grants to 10% Stockholders.    Notwithstanding anything to the contrary in this
Section 7, if an Incentive Stock Option is granted to a Holder who owns stock representing more than ten percent of the voting power of all classes of stock of NeuStar, or any Parent or
Subsidiary of NeuStar, the Option Period shall not exceed five years from the Date of Grant of such Option and the Option Price shall be at least 110 percent of the Fair Market Value (on the
Date of Grant) of the Common Stock subject to the Option. 

        (f)    $100,000 Per Year Limitation for Incentive Stock Options.    To the extent the aggregate Fair Market Value
(determined as of the Date of Grant) of Common Stock for which Incentive Stock Options are exercisable for the first time by any Participant during any calendar year (under all plans of NeuStar and
its Parents or Subsidiaries) exceeds $100,000, such excess Incentive Stock Options shall be treated as Nonqualified Stock Options. 

        (g)   Voluntary Surrender.    The Committee may permit the voluntary surrender of all or any portion of any
Nonqualified Stock Option issued pursuant to this Section 7 and its corresponding SAR, if any, granted under the Plan to be conditioned upon the granting to the Holder of a new Option for the
same or a different number of shares as the Option surrendered or require such voluntary surrender as a condition precedent to a grant of a new Option to such Participant. Such new Option shall be
exercisable at an Option Price, during an Option Period, and in accordance with any other terms or conditions specified by the Committee at the time the new Option is granted, all determined in
accordance with the provisions of the Plan without regard to the Option Price, Option Period, or any other terms and conditions of the Nonqualified Stock Option surrendered. 

8.     Stock Appreciation Rights

        Any
Option granted under the Plan may include SARs, either at the Date of Grant or, except in the case of an Incentive Stock Option, by subsequent amendment. The Committee also may award
SARs independent of any Option. An SAR shall confer on the Holder thereof the right to receive in shares of Common Stock, cash or a combination thereof the value equal to the excess of the Fair Market
Value of one share of Common Stock on the date of exercise over the exercise price for the SAR, with respect to every share of Common Stock for which the SAR is granted. An SAR shall be subject to
such terms and conditions not inconsistent with the Plan as the Committee shall impose, including, but not limited to, the following: 

        (a)   Vesting.    SARs granted in connection with an Option shall become exercisable, be transferable and shall
expire according to the same vesting schedule, transferability rules and expiration provisions as the corresponding Option. An SAR granted independent of an Option shall become exercisable, be
transferable and shall expire in accordance with a vesting schedule, transferability rules and expiration provisions as established by the Committee and reflected in an Award agreement. 

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        (b)   Automatic exercise.    If on the last day of the Option Period (or in the case of an SAR independent of an
Option, the period established by the Committee after which the SAR shall expire), the Fair Market Value of the Common Stock exceeds the Option Price (or in the case of an SAR granted independent of
an Option, the Fair Market Value of the Common Stock on the Date of Grant), the Holder has not exercised the SAR or the corresponding Option, and neither the SAR nor the corresponding Option has
expired, such SAR shall be deemed to have been exercised by the Holder on such last day and the Company shall make the appropriate payment therefor. 

        (c)   Payment.    Upon the exercise of an SAR, the Company shall pay to the Holder an amount equal to the number of
shares subject to the SAR multiplied by the excess, if any, of the Fair Market Value of one share of Common Stock on the exercise date over the Option Price, in the case of an SAR granted in
connection with an Option, or the Fair Market Value of one share of Common Stock on the Date of Grant, in the case of an SAR granted independent of an Option. The Company shall pay such excess in
cash, in shares of Common Stock valued at Fair Market Value, or any combination thereof, as determined by the Committee. Fractional shares shall be settled in cash. 

        (d)   Method of exercise.    A Holder may exercise an SAR after such time as the SAR vests by filing an irrevocable
written notice with the Committee or its designee, specifying the number of SARs to be exercised, and the date on which such SARs were awarded. 

        (e)   Expiration.    Each SAR shall cease to be exercisable, as to any share of Common Stock, when the Holder
exercises the SAR or exercises a related Option, with respect to such share of Common Stock. Except as otherwise provided, in the case of SARs granted in connection with Options, an SAR shall expire
on a date designated by the Committee which is not later than seven years after the Date of Grant of the SAR. 

9.     Performance Shares

        (a)   Award grants.    The Committee is authorized to establish Performance Share programs to be effective over
designated Award Periods determined by the Committee. The Committee may grant Awards of Performance Share Units to Eligible Persons in accordance with such Performance Share programs. At the beginning
of each Award Period, the Committee will establish written Performance Goals and a schedule relating the accomplishment of the Performance Goals to the Awards to be earned by Participants. Performance
Goals may include absolute or relative growth in earnings per share or rate of return on stockholders' equity or other measurements of corporate performance, personal management objectives, or other
measures of performance determined by the Committee and may be determined on an individual basis or by categories of Participants. The Committee shall determine the number of Performance Share Units
to be awarded, if any, to each Eligible Person who is selected to receive such an Award. The Committee may add new Participants to a Performance Share program after its commencement by making pro rata
grants. 

        (b)   Determination of Award.    At the completion of a Performance Share Award Period, or at other times as
specified by the Committee, the Committee shall calculate the number of shares of Common Stock earned with respect to each Participant's Performance Share Unit Award by multiplying the number of
Performance Share Units granted to the Participant by a performance factor representing the degree of attainment of the Performance Goals. 

        (c)   Partial Awards.    A Participant for less than a full Award Period, whether by reason of commencement or
termination of employment or otherwise, shall receive such portion of an Award, if any, for that Award Period as the Committee shall determine. 

        (d)   Payment of Performance Share Unit Awards.    Performance Share Unit Awards shall be payable in that number of
shares of Common Stock determined in accordance with Section 9(b); provided, however, that, at its discretion, the Committee may make payment to any Participant in
the 

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form
of cash upon the specific request of such Participant. The amount of any payment made in cash shall be based upon the Fair Market Value of the Common Stock on the day prior to payment. Payments
of Performance Share Unit Awards shall be made as soon as practicable after the completion of an Award Period. 

        (e)   Adjustment of Performance Goals.    The Committee may, during the Award Period, make such adjustments to
Performance Goals as it may deem appropriate, to compensate for, or reflect, (i) extraordinary or non-recurring events experienced during an Award Period by the Company or by any
other corporation whose performance is relevant to the determination of whether Performance Goals have been attained; (ii) any significant changes that may have occurred during such Award
Period in applicable accounting rules or principles or changes in the Company's method of accounting or in that of any other corporation whose performance is relevant to the determination of whether
an Award has been earned or (iii) any significant changes that may have occurred during such Award Period in tax laws or other laws or regulations that alter or affect the computation of the
measures of Performance Goals used for the calculation of Awards; provided, however, that following the date that the exemption from the application of
Section 162(m) of the Code described in Section 16 herein (or any other exemption having similar effect) ceases to apply to Performance Share Unit Awards, with respect to such Awards
intended to qualify as "performance-based compensation" under Section 162(m) of the Code, such adjustment shall be made only to the extent that the Committee determines that such adjustments
may be made without a loss of deductibility of the compensation includible with respect to such Award under Section 162(m) of the Code. 

10.   Restricted Stock Awards and Phantom Stock Units

(a)    Award of Restricted Stock and Phantom Stock Units. 

	(i)
	The
Committee shall have the authority (1) to grant Restricted Stock and Phantom Stock Unit Awards, (2) to issue or transfer Restricted Stock to Eligible
Persons, and (3) to establish terms, conditions and restrictions applicable to such Restricted Stock and Phantom Stock Units, including the Restricted Period, which may differ with respect to
each grantee, the time or times at which Restricted Stock or Phantom Stock Units shall be granted or become vested and the number of shares or units to be covered by each grant.

	(ii)
	The
Holder of a Restricted Stock Award shall execute and deliver to the Company an Award agreement with respect to the Restricted Stock setting forth the restrictions
applicable to such Restricted Stock. If the Committee determines that the Restricted Stock shall be held in escrow rather than delivered to the Holder pending the release of the applicable
restrictions, the Holder additionally shall execute and deliver to the Company (i) an escrow agreement satisfactory to the Committee, and (ii) the appropriate blank stock powers with
respect to the Restricted Stock covered by such agreements. If a Holder shall fail to execute a Restricted Stock agreement and, if applicable, an escrow agreement and stock powers, the Award shall be
null and void. Subject to the restrictions set forth in Section 10(b), the Holder shall generally have the rights and privileges of a stockholder as to such Restricted Stock, including the
right to vote such Restricted Stock. At the discretion of the Committee, cash dividends and stock dividends with respect to the Restricted Stock may be either currently paid to the Holder or withheld
by the Company for the Holder's account, and interest may be paid on the amount of cash dividends withheld at a rate and subject to such terms as determined by the Committee. Cash dividends or stock
dividends so withheld by the Committee shall not be subject to forfeiture. 

10

 

	(iii)
	Upon
the Award of Restricted Stock, the Committee shall cause a stock certificate registered in the name of the Holder to be issued and, if it so determines, deposited
together with the stock powers with an escrow agent designated by the Committee. If an escrow arrangement is used, the Committee shall cause the escrow agent to issue to the Holder a receipt
evidencing any stock certificate held by it registered in the name of the Holder.

	(iv)
	The
terms and conditions of a grant of Phantom Stock Units shall be reflected in a written Award agreement. No shares of Common Stock shall be issued at the time a
Phantom Stock Unit Award is made, and the Company will not be required to set aside a fund for the payment of any such Award. The Committee shall, in its sole discretion, determine in the written
Award agreement whether Holders of Phantom Stock Units shall receive an amount equal to the cash dividends paid by the Company upon one share of Common Stock for each Phantom Stock Unit then credited
to such Holder's account ("Dividend Equivalents") or no Dividend Equivalents. If such Dividend Equivalents are to be paid, the Committee shall, in its sole discretion, determine in the written Award
agreement whether to credit to the account of, or to currently pay to, each Holder of an Award of Phantom Stock Units such Dividend Equivalents, whether to pay or accrue such Dividend Equivalents in
cash or to convert such Dividend Equivalents into additional Phantom Stock Units, and, if cash is credited, what interest rate, if any, to credit. Dividend Equivalents credited to a Holder's account,
whether cash or Phantom Stock Units, rather than immediately paid, shall be subject to forfeiture on the same basis as the related Phantom Stock Units. 

(b)    Restrictions. 

	(i)
	Restricted
Stock awarded to a Participant shall be subject to the following restrictions until the expiration of the Restricted Period, and to such other terms and
conditions as may be set forth in the applicable Award agreement: (1) if an escrow arrangement is used, the Holder shall not be entitled to delivery of the stock certificate; (2) the
shares shall be subject to the restrictions on transferability set forth in the Award agreement; (3) the shares shall be subject to forfeiture to the extent provided in subparagraph
(d) and the Award Agreement and, to the extent such shares are forfeited, the stock certificates shall be returned to the Company, and all rights of the Holder to such shares and as a
shareholder shall terminate without further obligation on the part of the Company.

	(ii)
	Phantom
Stock Units awarded to any Participant shall be subject to (1) forfeiture until the expiration of the Restricted Period, to the extent provided in
subparagraph (d) and the Award agreement, and to the extent such Awards are forfeited, all rights of the Holder to such Awards shall terminate without further obligation on the part of the
Company and (2) such other terms and conditions as may be set forth in the applicable Award agreement.

	(iii)
	The
Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock and Phantom Stock Units whenever it may determine that, by
reason of changes in applicable laws or other changes in circumstances arising after the date of the Restricted Stock Award or Phantom Stock Award, such action is appropriate. 

        (c)   Restricted Period.    The Restricted Period of Restricted Stock and Phantom Stock Units shall commence on the
Date of Grant and shall expire from time to time as to that part of the Restricted Stock and Phantom Stock Units indicated in a schedule established by the Committee and set forth in a written Award
agreement. 

11

 

        (d)   Forfeiture Provisions.    Except to the extent determined by the Committee and reflected in the underlying
Award agreement, in the event a Holder terminates Service with the Company during a Restricted Period for any reason, that portion of the Award with respect to which restrictions have not expired
shall be completely forfeited to the Company. 

        (e)   Delivery of Restricted Stock and Settlement of Phantom Stock Units.    Upon the expiration of the Restricted
Period with respect to any shares of Common Stock covered by a Restricted Stock Award, the restrictions set forth in Section 10(b) and the Award agreement shall be of no further force or effect
with respect to shares of Restricted Stock which have not then been forfeited. If an escrow arrangement is used, upon such expiration, the Company shall deliver to the Holder, or his beneficiary,
without charge, the stock certificate evidencing the shares of Restricted Stock which have not then been forfeited and with respect to which the Restricted Period has expired (to the nearest full
share) and any cash dividends or stock dividends credited to the Holder's account with respect to such Restricted Stock and the interest thereon, if any. 

        Upon
the expiration of the Restricted Period with respect to any Phantom Stock Units covered by a Phantom Stock Unit Award, the Company shall deliver to the Holder, or his beneficiary,
without charge, one share of Common Stock for each Phantom Stock Unit which has not then been forfeited and with respect to which the Restricted Period has expired ("Vested Unit") and cash equal to
any Dividend Equivalents credited with respect to each such Vested Unit and the interest thereon, if any; provided, however, that, if so noted in the applicable Award
agreement, the Committee may, in its sole discretion, elect to pay cash or part cash and part Common Stock in lieu of delivering only Common Stock for Vested Units. If cash payment is made in lieu of
delivering Common Stock, the amount of such payment shall be equal to the Fair Market Value of the Common Stock as of the date on which the Restricted Period lapsed with respect to such Vested Unit. 

        (f)    Stock Restrictions.    Each certificate representing Restricted Stock awarded under the Plan shall bear the
following legend until the end of the Restricted Period with respect to such Common Stock: 

"Transfer
of this certificate and the shares represented hereby is restricted pursuant to the terms of a Restricted Stock Agreement, dated as of [Date], between
NeuStar, Inc.
and [Participant]. A copy of such Agreement is on file at the offices of the Company at 46000 Center Oak Plaza, Sterling, Virginia." 

Stop
transfer orders shall be entered with the Company's transfer agent and registrar against the transfer of legended securities. 

11.   Stock Bonus Awards

        The
Committee may issue unrestricted shares of Common Stock under the Plan to Eligible Persons, alone or in tandem with other Awards, in such amounts and subject to such terms and
conditions as the Committee shall from time to time in its sole discretion determine. Stock Bonus Awards under the Plan shall be granted as, or in payment of, a bonus, or to provide incentives or
recognize special achievements or contributions. 

12.   General

        (a)   Additional Provisions of an Award.    Awards under the Plan also may be subject to such other provisions
(whether or not applicable to the benefit awarded to any other Participant) as the Committee determines appropriate including, without limitation, provisions to assist the Participant in financing the
purchase of Common Stock upon the exercise of Options, provisions for the forfeiture of or restrictions on resale or other disposition of shares of Common Stock acquired under any Award, provisions to
comply with federal and state securities laws and federal and state tax withholding 

12

 

requirements,
and provisions giving the Company the right to repurchase shares of Common Stock acquired under any Award; provided, however, that with respect to shares
acquired by a Participant who resides in the state of California pursuant to an Option Award, any right to repurchase shares at the original purchase price upon such Participant's termination of
employment shall lapse at the rate of at least 20% of the shares per year over five years from the Date of Grant, and the right to repurchase must be exercised for cash or cancellation of purchase
money indebtedness within 90 days of termination of employment (or in the case of shares issued upon exercise of Options after the date of termination, within 90 days after exercise).
Any such provisions shall be reflected in the applicable Award agreement. 

        (b)   Privileges of Stock Ownership.    Except as otherwise specifically provided in the Plan, no person shall be
entitled to the privileges of Common Stock ownership in respect of shares of Common Stock which are subject to Awards hereunder until such shares have been issued to that person. 

        (c)   Government and Other Regulations.    The obligation of the Company to make payment of Awards in Common Stock or
otherwise shall be subject to all applicable laws, rules, and regulations, and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of any Award to
the contrary, the Company shall be under no obligation to offer to sell or to sell and shall be prohibited from offering to sell or selling any shares of Common Stock pursuant to an Award unless such
shares have been properly registered for sale pursuant to the Securities Act with the Securities and Exchange Commission or unless such shares may be offered or sold without such registration pursuant
to an available exemption therefrom and the terms and conditions of such exemption have been fully complied with. At the election of the Committee, prior to the issuance of any shares of Common Stock
pursuant to an Award, the Company may require an opinion of counsel, satisfactory to the Company, to the effect that any such exemption is available and that the terms and conditions of such exemption
have been fully complied with. The Company shall be under no obligation to register for sale under the Securities Act any of the shares of Common Stock to be offered or sold under the Plan. If the
shares of Common Stock offered for sale or sold under the Plan are offered or sold pursuant to an exemption from registration under the Securities Act, the Company may restrict the transfer of such
shares and may legend the Common Stock certificates representing such shares in such manner as it deems advisable to ensure the availability of any such exemption. 

        (d)   Tax Withholding.    Notwithstanding any other provision of the Plan, the Company shall have the right to deduct
from all Awards cash and/or Common Stock, valued at Fair Market Value on the date of payment, in an amount necessary to satisfy all Federal, state or local taxes as required by law to be withheld with
respect to such Awards and, in the case of Awards paid in Common Stock, the Holder or other person receiving such Common Stock may be required to pay to the Company prior to delivery of such Common
Stock, the amount of any such taxes which the Company is required to withhold, if any, with respect to such Common Stock. Subject in particular cases to the disapproval of the Committee, the Company
may accept shares of Common Stock of equivalent Fair Market Value in payment of such withholding tax obligations if the Holder of the Award elects to make payment in such manner. 

        (e)   Claim to Awards and Employment Rights.    No employee or other person shall have any claim or right to be
granted an Award under the Plan or, having been selected for the grant of an Award, to be selected for a grant of any other Award. Neither the Plan nor any action taken hereunder shall be construed as
giving any Participant any right to be retained in the Service of the Company. 

        (f)    Designation and Change of Beneficiary.    Each Participant may file with the Committee a written designation of
one or more persons as the beneficiary who shall be entitled to receive the rights or amounts payable with respect to an Award due under the Plan upon his death. A Participant may, from time to time,
revoke or change his beneficiary designation without the consent of any prior beneficiary by filing a new designation with the Committee. The last such designation received by the 

13

 

Committee
shall be controlling; provided, however, that no designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the
Participant's death, and in no event shall it be effective as of a date prior to such receipt. If no beneficiary designation is filed by the Participant, the beneficiary shall be deemed to be his
spouse or, if the Participant is unmarried at the time of death, his estate. 

        (g)   Payments to Persons Other Than Participants.    If the Committee shall find that any person to whom any amount
is payable under the Plan is unable to care for his affairs because of illness or accident, or is a minor, or has died, then any payment due to such person or his estate (unless a prior claim therefor
has been made by a duly appointed legal representative) may, if the Committee so directs the Company, be paid to his spouse, child, relative, an institution maintaining or having custody of such
person, or any other person deemed by the Committee to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of
the Committee and the Company therefor. 

        (h)   No Liability of Committee Members.    No member of the Committee shall be personally liable by reason of any
contract or other instrument executed by such member or on his behalf in his capacity as a member of the Committee nor for any mistake of judgment made in good faith, and NeuStar shall indemnify and
hold harmless each member of the Committee and each other employee, officer or director of the Company to whom any duty or power relating to the administration or interpretation of the Plan may be
allocated or delegated, against any cost or expense (including counsel fees) or liability (including any sum paid in settlement of a claim) arising out of any act or omission to act in connection with
the Plan unless arising out of such person's own fraud or willful bad faith; provided, however, that approval of the Board shall be required for the payment of any amount
in settlement of a claim against any such person. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under
NeuStar's Certificate of Incorporation or By-Laws, as a matter of law, or otherwise, or any power that NeuStar may have to indemnify them or hold them harmless. 

        (i)    Governing law.    The Plan shall be governed by and construed in accordance with the internal laws of the State
of Delaware without regard to the principles of conflicts of law thereof. 

        (j)    Funding.    No provision of the Plan shall require the Company, for the purpose of satisfying any obligations
under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall the Company maintain separate bank
accounts, books, records or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes. Holders shall have no rights under the Plan other than as
unsecured general creditors of the Company, except that insofar as they may have become entitled to payment of additional compensation by performance of services, they shall have the same rights as
other employees under general law. 

        (k)   Nontransferability.    A person's rights and interest under the Plan, including amounts payable, may not be
sold, assigned, donated, or transferred or otherwise disposed of, mortgaged, pledged or encumbered except, in the event of a Holder's death, to a designated beneficiary to the extent permitted by the
Plan, or in the absence of such designation, by will or the laws of descent and distribution; provided, however, the Committee may, in its sole discretion, allow for
transfer of Awards other than Options to other persons or entities. 

        (l)    Reliance on Reports.    Each member of the Committee and each member of the Board shall be fully justified in
relying, acting or failing to act, and shall not be liable for having so relied, acted or failed to act in good faith, upon any report made by the independent public accountant of NeuStar and its
Related Entities and upon any other information furnished in connection with the Plan by any person or persons other than himself. 

14

 

        (m)  Relationship to Other Benefits.    No payment under the Plan shall be taken into account in determining any
benefits under any pension, retirement, profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan. 

        (n)   Expenses.    The expenses of administering the Plan shall be borne by NeuStar. 

        (o)   Pronouns.    Masculine pronouns and other words of masculine gender shall refer to both men and women. 

        (p)   Titles and Headings.    The titles and headings of the sections in the Plan are for convenience of reference
only, and in the event of any conflict, the text of the Plan, rather than such titles or headings shall control. 

        (q)   Shareholders Agreement.    As a condition to receiving an Award under the Plan each Participant receiving
Common Stock or rights to acquire Common Stock under the Plan shall agree to enter into a shareholders agreement to be approved by the Board at such time as the Board deems appropriate. 

        (r)   Financial Statements.    Each Participant who receives an Award under the Plan and who resides in the state of
California shall, for so long as such Participant resides in California and holds Common Stock or rights to acquire Common Stock under the Plan, be provided financial statements of the Company at
least annually. 

13.   Changes in Capital Structure

        (a)   Awards
granted under the Plan and any Award Agreements, the maximum number of shares of Common Stock subject to all Awards and the maximum number of shares of Common
Stock with respect to which any one person may be granted Options or SARs during any year, if applicable, as well as any other terms that the Committee determines, shall be subject to equitable
adjustment or substitution, as determined by the Committee in its sole discretion, as to the number, price or kind of a share of stock or other consideration subject to such Awards (i) in the
event of changes in the outstanding Common Stock or in the capital structure of the Company by reason of stock dividends, stock splits, reverse stock splits, recapitalizations, reorganizations,
mergers, consolidations, combinations, exchanges, or other relevant changes in capitalization occurring after the Date of Grant of any such Award, or (ii) in the event of any change in
applicable laws or any change in circumstances which results in or would result in any substantial dilution or enlargement of the rights granted to, or available for, Participants in the Plan, or
which otherwise warrants equitable adjustment because it interferes with the intended operation of the Plan. In addition, in the event of any such adjustment or substitution, the aggregate number of
shares of Common Stock available under the Plan shall be appropriately adjusted by the Committee, whose determination shall be conclusive. Following the date that the exemption from the application of
Section 162(m) of the Code described in Section 16 (or any other exemption having similar effect) ceases to apply to Awards, with respect to Awards intended to qualify as
"performance-based compensation" under Section 162(m) of the Code, such adjustments or substitutions shall be made only to the extent that the Committee determines that such adjustments or
substitutions may be made without a loss of deductibility for such Awards under Section 162(m) of the Code. The Company shall give each Participant notice of an adjustment hereunder and, upon
notice, such adjustment shall be conclusive and binding for all purposes. 

        (b)   Notwithstanding
the above or any other provision of the Plan to the contrary, in the event of any of the following occurs: 

	(i)
	the
Company is merged or consolidated with another corporation or entity and, in connection therewith, consideration is received by shareholders of the Company in a form
other than stock or other equity interests of the surviving entity;

	(ii)
	all
or substantially all of the assets of the Company are acquired by another person; 

15

 

	(iii)
	the
reorganization or liquidation of the Company; or

	(iv)
	the
Company shall enter into a written agreement to undergo an event described in clauses (i), (ii) or (iii) above, 

then
unless each outstanding Award is assumed or continued after such event as provided under subsection (a) above, the Committee may, in its discretion and upon at least ten (10) days
advance notice to the affected persons, cancel any outstanding Awards, whether or not then vested, and pay to the Holders thereof, in cash, the value of such Awards as if they all were then vested
based upon the price per share of Common Stock received or to be received by other shareholders of the Company in the event. The terms of this Section 13 may be varied by the Committee in any
particular Award Agreement. 

14.   Nonexclusivity of the Plan

        Neither
the adoption of this Plan by the Board nor the submission of this Plan to the stockholders of NeuStar for approval shall be construed as creating any limitations on the power of
the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of stock options otherwise than under this Plan, and such arrangements may be
either applicable generally or only in specific cases. 

15.   Amendments and Termination

        The
Board may at any time terminate the Plan. Subject to any Award modifications, adjustments or other matters that may be effected without Participant consent under Section 13,
with the express written consent of an affected Participant, the Board or the Committee may cancel or reduce or otherwise alter outstanding Awards if, in its judgment, the tax, accounting, or other
effects of the Plan
or potential payouts thereunder would not be in the best interest of NeuStar. The Board or the Committee may, at any time, or from time to time, amend or suspend and, if suspended, reinstate, the Plan
in whole or in part. 

16.   Effect of Section 162(m) of the Code

        The
Plan, and all Awards issued thereunder, are intended to be exempt from the application of Section 162(m) of the Code, which restricts under certain circumstances the Federal
income tax deduction for compensation paid by a public company to named executives in excess of $1 million per year. The exemption is based on Treasury Regulation
Section 1.162-27(f), in the form existing on the effective date of the Plan, with the understanding that such regulation generally exempts from the application of
Section 162(m) of the Code compensation paid pursuant to a plan that existed before a company becomes publicly held. Under such Treasury Regulation, this exemption is available to the Plan for
the duration of the period that lasts until the earlier of (i) the expiration or material modification of the Plan, (ii) the exhaustion of the maximum number of shares of Common Stock
available for Awards under the Plan, as set forth in Section 5(a), or (iii) the first meeting of shareholders at which directors are to be elected that occurs after the close of the
third calendar year following the calendar year in which the Company first becomes subject to the reporting obligations of Section 12 of the Exchange Act. The Committee may, without shareholder
approval, amend the Plan retroactively and/or prospectively to the extent it determines necessary in order to comply with any subsequent clarification of Section 162(m) of the Code required to
preserve the Company's Federal income tax deduction for compensation paid pursuant to the Plan. To the extent that the Committee determines as of the Date of Grant of an Award that (i) the
Award is intended to comply with Section 162(m) of the Code and (ii) the exemption described above is no longer available with respect to such Award, such Award shall not be effective
until any stockholder approval required under Section 162(m) of the Code has been obtained. 

*        *        *

As
originally adopted by the Board of Directors of

NeuStar, Inc. as of November 30, 1999, and as

thereafter amended and restated as of April 4, 2005. 

16

AMENDMENT TO, AND ADJUSTMENT OF, THE

NEUSTAR, INC. 1999 EQUITY INCENTIVE PLAN  

 Amendment of 1999 Plan  

        WHEREAS, in connection with the adoption of the 2005 Plan, the Board has been presented with and has considered an amendment to the 1999 Plan, which amendment
revises Section 3 of the 1999 Plan to provide that (i) no further awards shall be granted under the 1999 Plan as of the date stockholder approval of the 2005 Plan is obtained, and
(ii) any shares available for grant as of the date stockholder approval of the 2005 Plan is obtained, plus any other shares under the 1999 Plan that again become available due to forfeiture,
expiration, settlement in cash or other termination of awards without issuance, shall be available for grant under the 2005 Plan; and 

        WHEREAS,
the Board has reviewed the amendment to the 1999 Plan and deems the adoption of the amendment to be in the best interests of the Company. 

        NOW,
THEREFORE, BE IT RESOLVED, that the amendment to the 1999 Plan be, and it hereby is, approved and adopted in all respects. 

 Adjustment of 1999 Plan  

        WHEREAS, in connection with the initial public offering of shares of the Company's Class A Common Stock, the Board has approved and recommended to the
stockholders that the Company split each share of its existing Common Stock into 1.4 shares of Class B Common Stock by means of a reclassification (the
"Reclassification"); 

        WHEREAS,
each share of Class B Common Stock will be convertible at the option of the holder into one share of Class A Common Stock; 

        WHEREAS,
the Class B Common Stock will not be registered with the Securities and Exchange Commission and therefore will have no public market; 

        WHEREAS,
the Company anticipates that it will ultimately receive conversion elections from the holders of all of the Class B Common Stock to convert their shares to Class A
Common Stock in order to access the public markets, after which no shares of Class B Common Stock will be outstanding; 

        WHEREAS,
Section 13(a) of the 1999 Plan provides that awards granted under the 1999 Plan, the maximum number of shares of Common Stock subject to all awards and the maximum number
of shares of Common Stock with respect to which any one person may be granted options or stock appreciation rights during any year under the 1999 Plan, as well as any other terms that the Board
determines, shall be subject to equitable adjustment or substitution in the event of a change in the outstanding Common Stock by reason of a change in the capital structure of the Company by reason of
a stock split, recapitalization and other similar events affecting the Company's common stock; and 

        WHEREAS,
the Board deems it in the best interests of the Company and its stockholders to adjust awards granted under the 1999 Plan, the maximum number of shares of Common Stock subject
to all awards and the maximum number of shares of Common Stock with respect to which any one person may be granted options or stock appreciation rights during any year under the 1999 Plan to reflect
the Reclassification and the conversion of each share of Class B Common Stock into one share of Class A Common Stock. 

        NOW,
THEREFORE, BE IT RESOLVED, that immediately upon the effectiveness of the Reclassification, all awards then outstanding under the 1999 Plan shall be adjusted by multiplying the
number of shares of Common Stock subject to such awards by 1.4, dividing the exercise price per share of Common Stock pursuant to such awards by 1.4, and converting the resulting shares underlying
each award into shares of Class A Common Stock; 

        RESOLVED
FURTHER, that immediately upon the effectiveness of the Reclassification, the maximum number of shares of Common Stock subject to all awards and the maximum number of shares of
Common Stock with respect to which any one person may be granted options or stock 

 

appreciation
rights during any year under the 1999 Plan shall each be increased to an amount equal to 1.4 times such number of shares as was in effect immediately prior to the effectiveness of the
Reclassification, and all such shares shall be converted into shares of Class A Common Stock; and 

        RESOLVED
FURTHER, that in accordance with Section 13(a) of the 1999 Plan, the Company shall give each Participant (as defined in the 1999 Plan) notice of the adjustment approved
hereby. 

2

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Exhibit 10.9  

 
 

 
   
   
   
  NEUSTAR, INC.
   
   
  2005 Stock Incentive Plan    
    

 
 
 

TABLE OF CONTENTS    
    

	
ARTICLE I PURPOSE	
 	

1
	
ARTICLE II DEFINITIONS	
 	

1
	
ARTICLE III ADMINISTRATION	
 	

7
	
ARTICLE IV SHARE LIMITATION	
 	

10
	
ARTICLE V ELIGIBILITY	
 	

13
	
ARTICLE VI STOCK OPTIONS	
 	

13
	
ARTICLE VII STOCK APPRECIATION RIGHTS	
 	

16
	
ARTICLE VIII RESTRICTED STOCK AWARDS AND RESTRICTED STOCK UNITS	
 	

18
	
ARTICLE IX PERFORMANCE AWARDS	
 	

20
	
ARTICLE X OTHER STOCK-BASED AWARDS	
 	

21
	
ARTICLE XI TERMINATION OR AMENDMENT OF PLAN/NON-TRANSFERABILITY OF AWARDS	
 	

22
	
ARTICLE XII UNFUNDED PLAN	
 	

23
	
ARTICLE XIII GENERAL PROVISIONS	
 	

23
	
ARTICLE XIV EFFECTIVE DATE OF PLAN	
 	

26
	
ARTICLE XV TERM OF PLAN	
 	

26
	
ARTICLE XVI NAME OF PLAN	
 	

27

2

  

 
 

NEUSTAR, INC.    
    

 

2005 Stock Incentive Plan
  

  
 

    ARTICLE I
  PURPOSE    
    

        The purpose of this NeuStar, Inc. 2005 Stock Incentive Plan is to enhance the profitability and value of the Company for the benefit of its stockholders by
enabling the Company to offer Eligible Employees, Consultants and Non-Employee Directors stock-based and other incentives (thereby creating a means to raise the level of equity ownership
by such individuals) and provide other incentives in order to attract, retain and reward such individuals and strengthen the mutuality of interests between such individuals and the Company's
stockholders. 

 
 

ARTICLE II
  DEFINITIONS    
    

        For purposes of the Plan, the following terms shall have the following meanings: 

        2.1    "Acquisition Event"    has the meaning set forth in Section 4.2(d). 

        2.2    "Affiliate"    means each of the following: (a) any Subsidiary or Parent;
(b) any corporation, trade or business (including, without limitation, a partnership or limited liability company) that is directly or indirectly controlled 50% or more (whether by ownership of
stock, assets or an equivalent ownership interest or voting interest) by the Company or one of its Affiliates; and (c) any other entity in which the Company or any of its Affiliates has a
material equity interest and that is designated as an "Affiliate" by resolution of the Committee. 

        2.3    "Award"    means any award under the Plan of any Option, Stock Appreciation Right,
Restricted Stock Award, RSU Award, Performance Award or Other Stock-Based Award. 

        2.4    "Board"    means the Board of Directors of the Company. 

        2.5    "Cause"    means with respect to a Participant's Termination of Employment or
Termination of Consultancy, the following: (a) in the case where there is an employment agreement, consulting agreement, change in control agreement or similar agreement in effect between the
Company or an Affiliate and the Participant at the time of the grant of the Award that defines "cause" (or words or a concept of like import), "cause" as defined under such agreement;  provided, however,
that with regard to any agreement under which the definition of "cause" applies only on occurrence of a change in control, such
definition of "cause" shall not apply until a change in control actually takes place and then only with regard to a termination in the period covered thereby; or (b) if such an agreement does
not exist or "cause" is not defined in any such agreement, termination due to a Participant's (i) insubordination, (ii) dishonesty, (iii) fraud, (iv) incompetence,
(v) moral turpitude, (vi) willful misconduct, (vii) refusal to perform his or her duties or responsibilities for any reason other than illness or incapacity, or
(viii) materially unsatisfactory performance of his or her duties for the Company or an Affiliate, in each case as determined by the Committee in its sole discretion. With respect to a
Participant's Termination of Directorship, "cause" means an act or failure to act that constitutes cause for removal of a director under applicable Delaware law. 

        2.6    "Code"    means the Internal Revenue Code of 1986, as amended. Any reference to any
section of the Code shall also be a reference to any successor provision and any Treasury Regulation promulgated thereunder. 

1

 

        2.7    "Committee"    

        (a)    With
respect to the application of the Plan to Eligible Employees and Consultants, the "Committee" means the Compensation and Stock Option Committee of the Board
appointed from time to time by the Board (or another committee or committees of the Board appointed for the purposes of administering the Plan). In the event that more than one Committee is appointed
by the Board, the Board shall specify with respect to each Committee the group of Persons with respect to which such Committee shall have the power to grant Awards. In the event that more than one
Committee is appointed by the Board, then each reference in the Plan to "the Committee" shall be deemed a reference to each such Committee (subject to the last sentence of this paragraph); provided,
however, that each such Committee may exercise only the power and authority granted to "the Committee" by the Plan with respect to those Persons to which it has the power to grant Awards as specified
in the
resolution of the Board appointing such Committee. Each Committee shall be comprised of two or more Directors. Each Committee shall consist of two or more non-employee directors, each of
whom is intended to be a "non-employee director" as defined in Rule 16b-3 promulgated under Section 16(b) of the Exchange Act, an "outside director" as defined
under Section 162(m) of the Code and, to the extent required by the rules and regulations of the New York Stock Exchange, an "independent director" as defined under such rules and regulations;
provided, however, that the foregoing shall not apply to any Committee that does not have the power to grant Awards to executive officers or Directors of the Company or otherwise make any decisions
with respect to the timing or the pricing of any Awards granted to executive officers and Directors. If for any reason such Committee does not meet the requirements of Rule 16b-3 or
Section 162(m) of the Code, such noncompliance with the requirements of Rule 16b-3 or Section 162(m) of the Code, as applicable, shall not affect the validity of
Awards, grants, interpretations or other actions of the Committee. 

        (b)    With
respect to the application of the Plan to Non-Employee Directors, the "Committee" means the Board. 

        2.8    "Common Stock"    means the Company's Class A Common Stock, $0.001 par value per
share, of the Company. 

        2.9    "Company"    means NeuStar, Inc., a Delaware corporation, and its successors by
operation of law. 

        2.10    "Consultant"    means any individual who (either directly or through his or her
employer) is an advisor or consultant to, or subject to Section 5.3, a prospective advisor or consultant to, the Company or an Affiliate. 

        2.11    "Detrimental Activity"    means: (a) an activity that results, or if known
could result, in the Participant's Termination for Cause; or (b) an activity that violates any agreement or written policy of the Company or its Affiliates applicable to the Participant,
including, without limitation, regarding confidentiality, competition, solicitation or disparagement; or (c) such other definition as the Committee may provide in an Award agreement. All
determinations as to the occurrence of a Detrimental Activity on the part of a Participant shall be made by the Committee in its sole discretion. 

        2.12    "Director"    means a member of the Board of Directors of the Company (or any
successor to the Company). 

        2.13    "Disability"    means, with respect to a Participant's Termination, the following:
(a) in the case where there is an employment agreement, consulting agreement, change in control agreement or similar agreement in effect between the Company or an Affiliate and the Participant
at the time of the grant of the Award that defines "disability" (or words or a concept of like import), "disability" as defined under such agreement; provided, however, that with regard to any
agreement under which the definition of "disability" applies only on occurrence of a change in control, such definition of "cause" shall not apply until a change in control actually takes place and
then only with regard to a termination 

2

 

in
the period covered thereby; or (b) if such an agreement does not exist or if "disability" is not defined in any such agreement, a permanent and total disability as defined in
Section 22(e)(3) of the Code. A Disability shall be deemed to occur only at the time of the determination by the Committee of the Disability. 

        2.14    "Effective Date"    means the effective date of the Plan as defined in
Article XV. 

        2.15    "Eligible Employee"    means each employee of, or subject to Section 5.3, each
prospective employee of, the Company or an Affiliate. 

        2.16    "Exchange Act"    means the Securities Exchange Act of 1934, as amended. Any
references to any section of the Exchange Act shall also be a reference to any successor provision. 

        2.17    "Fair Market Value"    means, for purposes of the Plan, unless otherwise required by
any applicable provision of the Code or any regulations issued thereunder, as of any date and except as provided below shall mean, with respect to any class or series of outstanding shares of Common
Stock, the Closing Price for such Common Stock on such date. The "Closing Price" on any date shall mean the closing price for such Common Stock, regular
way, or, in case no such sale takes place on such day, the average of the high and low trading prices, regular way, for such Common Stock, in either case as reported in the principal consolidated
transaction reporting system with respect to securities listed or admitted to trading on the New York Stock Exchange or, if such Common Stock is not listed or admitted to trading on the New York Stock
Exchange, as reported on the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which such Common Stock is listed or
admitted to trading or, if such Common Stock is not listed or admitted to trading on any national securities exchange, the last quoted price, or, if not so quoted, the average of the high bid and low
asked prices in the over-the-counter market, as reported by the Nasdaq Stock Market or, if such system is no longer in use, the principal other automated quotation system that
may then be in use or, if such Common Stock is not quoted by any such organization, the average of the closing bid and asked prices as furnished by a professional market maker making a market in such
Common Stock selected by the Board or, in the event that no trading price is available for such Common Stock, the fair market value of the Common Stock, as determined in good faith by the Board of
Directors of the Company. Notwithstanding the foregoing, if the Common Stock is offered to the public in an initial
public offering, the Fair Market Value of the shares of Common Stock at the time that the offering commences shall be the price per share at which shares are first sold to the public in the Company's
initial public offering. 

        2.18    "Family Member"    means "family member" as defined in Section A(1)(a)(5) of
the general instructions of Form S-8, or any successor thereto, as in effect from time to time. 

        2.19    "Incentive Stock Option"    means any Option awarded to an Eligible Employee under
this Plan intended to be and designated as an "Incentive Stock Option" within the meaning of Section 422 of the Code. 

        2.20    "Non-Employee Director"    means a Director of the Company who is not an
active employee of the Company or an Affiliate. 

        2.21    "Non-Qualified Stock Option"    means any Option awarded under this Plan
that is not an Incentive Stock Option. 

        2.22    "Non-Tandem Stock Appreciation Right" shall mean the right to receive an amount in
cash and/or stock equal to the difference between (a) the Fair Market Value of a share of Common Stock on the date such right is exercised, and (b) the aggregate exercise price of such
right, otherwise than on surrender of an Option. 

        2.23    "Option"    means any option to purchase shares of Common Stock granted to Eligible
Employees, Non-Employee Directors or Consultants pursuant to Article VI. 

3

 

        2.24    "Other Stock-Based Award"    means an Award under Article X of the Plan that is
valued in whole or in part by reference to, or is payable in or otherwise based on, Common Stock. 

        2.25    "Parent"    means any parent corporation of the Company within the meaning of
Section 424(e) of the Code. 

        2.26    "Participant"    means an Eligible Employee, Non-Employee Director or
Consultant to whom an Award has been granted pursuant to the Plan. 

        2.27    "Performance Award"    means an Award made pursuant to Article IX of the Plan,
which may be stated with reference to shares of Common Stock or to cash. 

        2.28    "Performance Period"    has the meaning set forth in Section 9.1. 

        2.29    "Person"    means any individual, corporation, partnership, limited liability company,
firm, joint venture, association, joint-stock company, trust, incorporated organization, governmental or regulatory or other entity. 

        2.30    "Plan"    means this NeuStar, Inc. 2005 Stock Incentive Plan, as amended from
time to time. 

        2.31    "Prior Plan"    means the NeuStar, Inc. 1999 Equity Incentive Plan, as amended
from time to time. 

        2.32    "Reference Stock Option"    has the meaning set forth in Section 7.1. 

        2.33    "Restricted Stock Award"    means an Award of shares of Common Stock, or the right to
receive shares of Common Stock in the future, subject to the restrictions under Article VIII. 

        2.34    "RSU"    means a restricted stock unit, which is an Award the value of which is
calculated by reference to the value of shares of Common Stock, subject to the restrictions under Article VIII. 

        2.35    "Restriction Period"    has the meaning set forth in Subsection 8.3(a) with respect to
Restricted Stock Awards. 

        2.36    "Retirement"    means, unless otherwise provided by the Committee at grant, a
Termination of Employment without Cause or Termination of Consultancy without Cause (other than, in any such case, after the occurrence of an event that would provide a basis for a Cause termination)
at or after age 60 (provided the Participant has at least ten years of service to the Company or its Affiliates) or after age 65 (provided the Participant has at least five years of service to the
Company or its Affiliates). With respect to a Termination of Directorship, Retirement means the failure to stand for reelection or the failure to be reelected on or after the Participant has attained
age 72 (provided the Participant has at
least five years of service to the Company or its Affiliates). Determinations of length of service shall be made by the Committee in its sole discretion. 

        2.37    "Rule 16b-3"    means Rule 16b-3 under
Section 16(b) of the Exchange Act as then in effect or any successor provision. 

        2.38    "Section 162(m) of the Code"    means the exception for performance-based
compensation under Section 162(m) of the Code and any Treasury Regulations thereunder. 

        2.39    "Securities Act"    means the Securities Act of 1933, as amended and all rules and
regulations promulgated thereunder. Any reference to any section of the Securities Act shall also be a reference to any successor provision. 

        2.40    "Stock Appreciation Right"    shall mean the right pursuant to an Award granted under
Article VII. 

        2.41    "Stock Option" or "Option"    means
any option to purchase shares of Common Stock granted to Eligible Employees, Non-Employee Directors or Consultants granted pursuant to Article VI. 

4

 

        2.42    "Subsidiary"    means any subsidiary corporation of the Company within the meaning of
Section 424(f) of the Code. 

        2.43    "Substitute Awards"    mean Awards granted or shares of Common Stock issued by the
Company in assumption of, or in substitution or exchange for, awards previously granted by a company acquired by the Company or an Affiliate (including pursuant to an asset purchase) or with which the
Company or an Affiliate otherwise combines. 

        2.44    "Tandem Stock Appreciation Right" means the right to surrender to the Company all (or a portion)
of an Option in exchange for an amount in cash and/or stock equal to the difference between (a) the Fair Market Value, on the date such Option (or such portion thereof) is surrendered, of the
Common Stock covered by such Option (or such portion thereof), and (b) the aggregate exercise price of such Option (or such portion thereof). 

        2.45    "Ten Percent Stockholder"    means a person owning stock possessing more than 10% of
the total combined voting power of all classes of stock of the Company, its Subsidiaries or its Parent, in accordance with the Treasury Regulations applicable to incentive stock options. 

        2.46    "Termination"    means a Termination of Consultancy, Termination of Directorship or
Termination of Employment, as applicable. 

        2.47    "Termination of Consultancy"    means: (a) that the Consultant is no longer
acting as a consultant to the Company or an Affiliate; or (b) when an entity retaining a Participant as a Consultant ceases to be an Affiliate unless the Participant otherwise is, or thereupon
becomes, a Consultant to the Company or another Affiliate at the time the entity ceases to be an Affiliate. In the event that a Consultant becomes an Eligible Employee or a Non-Employee
Director upon the termination of his or her consultancy, unless otherwise determined by the Committee, in its sole discretion, no Termination of Consultancy shall be deemed to occur until such time as
such Consultant is no longer any of a Consultant, an Eligible Employee or a Non-Employee Director. Notwithstanding the foregoing, the Committee may otherwise define Termination of
Consultancy in the Award agreement or, if no rights of a Participant are reduced, may otherwise define Termination of Consultancy thereafter. 

        2.48    "Termination of Directorship"    means that the Non-Employee Director has
ceased to be a Director of the Company; except that if a Non-Employee Director becomes an Eligible Employee or a Consultant upon the termination of his or her directorship, the Participant
shall not experience a Termination until the Participant has a Termination of Employment or Termination of Consultancy, as the case may be. 

        2.49    "Termination of Employment"    means: (a) a termination of employment (for
reasons other than a military or personal leave of absence granted by the Company) of a Participant from the Company and its Affiliates; or (b) when an entity employing a Participant ceases to
be an Affiliate, unless the Participant otherwise is, or thereupon becomes, employed by the Company or another Affiliate at the time the entity ceases to be an Affiliate. In the event that an Eligible
Employee becomes a Consultant or a Non-Employee Director upon the termination of his or her employment, unless otherwise determined by the Committee, in its sole discretion, no Termination
of Employment shall be deemed to occur until such time as such Eligible Employee is no longer any of an Eligible Employee, a Consultant or a Non-Employee Director. Notwithstanding the
foregoing, the Committee may otherwise define Termination of Employment in the Award agreement or, if no rights of a Participant are reduced, may otherwise define Termination of Employment thereafter. 

        2.50    "Transfer"    means: (a) when used as a noun, any direct or indirect transfer,
sale, assignment, pledge, hypothecation, encumbrance or other disposition (including the issuance of equity in a Person), whether for value or no value and whether voluntary or involuntary (including
by operation of law), and (b) when used as a verb, to directly or indirectly transfer, sell, assign, pledge, encumber, charge, hypothecate or otherwise dispose of (including by the issuance of
equity in a Person) whether for value
or for no value and whether voluntarily or involuntarily (including by operation of law). "Transferred" and "Transferable" shall have a correlative meaning. 

5

  

 
 

ARTICLE III
  ADMINISTRATION    
    

        3.1    The Committee.    The Plan shall be administered and interpreted by the Committee.
Notwithstanding anything herein to the contrary, the Board shall have authority for administration and interpretation of the Plan with respect to Non-Employee Directors and all references
herein to the authority of the Committee as applied to Non-Employee Directors shall be deemed to refer to the Board. 

        3.2    Grants of Awards.    The Committee shall have full authority to grant, pursuant to the
terms of the Plan, to Eligible Employees, Consultants and Non-Employee Directors: (i) Options, (ii) Stock Appreciation Rights, (iii) Restricted Stock Awards,
(iv) RSU Awards, (v) Performance Awards, and (vi) Other Stock-Based Awards. Without limiting the generality of the foregoing, the Committee shall have the authority: 

        (a)    to
select the Eligible Employees, Consultants and Non-Employee Directors to whom Awards may from time to time be granted hereunder; 

        (b)    to
determine whether and to what extent Awards, or any combination thereof, are to be granted hereunder to one or more Eligible Employees, Consultants or
Non-Employee Directors; 

        (c)    to
determine the number of shares of Common Stock (if any) to be covered by an Award granted hereunder; 

        (d)    to
determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder (including, but not limited to, the exercise or
purchase price (if any), any restriction or limitation, any vesting schedule or acceleration thereof, or any forfeiture restrictions or waiver thereof, regarding any Award and the shares of Common
Stock relating thereto, based on such factors, if any, as the Committee shall determine, in its sole discretion); 

        (e)    to
determine whether, to what extent and under what circumstances grants of Options and other Awards under the Plan are to operate on a tandem basis and/or in
conjunction with or apart from other awards made by the Company outside of the Plan; 

        (f)    to
determine whether and under what circumstances an Option may be settled in cash, Common Stock and/or restricted stock; 

        (g)    to
determine whether, to what extent and under what circumstances Common Stock and other amounts payable with respect to an Award under the Plan shall be deferred either
automatically or at the election of the Participant; 

        (h)    to
determine whether an Option is an Incentive Stock Option or Non-Qualified Stock Option; 

        (i)    to
determine whether to require a Participant, as a condition of the granting of any Award, to not sell or otherwise dispose of shares acquired pursuant to the exercise
of an Award for a period of time as determined by the Committee, in its sole discretion, following the date of the acquisition of such Award; 

        (j)    to
modify, extend or renew an Award, subject to Article XII herein and the prohibition on "repricing" in Section 6.3(a), provided, however, that if an
Award is modified, extended or renewed and thereby deemed to be the issuance of a new Award under the Code or the applicable accounting rules, the exercise price of an Option may continue to be the
original exercise price even if less than the Fair Market Value of the Common Stock at the time of such modification, extension or renewal; 

6

 

        (k)    Subject
to the prohibition on "repricing" in Section 6.3(a), to offer to buy out an Award previously granted, based on such terms and conditions as the Committee
shall establish and communicate to the Participant at the time such offer is made; 

        (l)    to
determine at grant that an Option shall cease to be exercisable or an Award shall be forfeited, or that proceeds or profits applicable to an Award shall be returned
to the Company, in the event the Participant engages in a Detrimental Activity with respect to the Company or its Affiliates and to interpret such definition and to approve waivers with regard
thereto; and 

        (m)    to
determine whether or not an Award is intended to comply with Section 162(m) of the Code. 

        3.3    Guidelines.    

        (a)    Subject
to Article XI hereof, the Committee shall have the authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the
Plan and perform all acts, including the delegation of its responsibilities (to the extent permitted by applicable law and applicable stock exchange rules), as it shall, from time to time, deem
advisable; to construe and interpret the terms and provisions of the Plan and any Award issued under the Plan (and any agreements relating thereto); and to otherwise supervise the administration of
the Plan. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any agreement relating thereto in the manner and to the extent it shall deem
necessary to effectuate the purpose and intent of the Plan. Notwithstanding the foregoing, no action of the Committee under this Section 3.3 shall reduce the rights of any Participant without
the Participant's consent. To the extent applicable, the Plan is intended to comply with the applicable requirements of Rule 16b-3 and Section 162(m) of the Code, and the
Plan shall be limited, construed and interpreted in a manner so as to comply therewith. 

        (b)    Without
limiting the generality of the foregoing, the Committee may adopt special guidelines and provisions for persons who are residing in or employed in, or subject
to, the taxes of, any domestic or foreign jurisdictions, to comply with applicable laws, regulations, or accounting, listing or other rules with respect to such domestic or foreign jurisdictions. 

        3.4    Decisions Final.    Any decision, interpretation or other action made or taken in good
faith by or at the direction of the Company, the Board or the Committee (or any of its members) arising out of or in connection with the Plan shall be within the sole discretion of all and each of
them, as the case may be, and shall be final, binding and conclusive on the Company and all employees and Participants and their respective heirs, executors, administrators, successors and assigns. 

        3.5    Procedures.    The Board shall designate one of the members of the Committee as
chairman and the Committee shall hold meetings, subject to the By-Laws of the Company, at such times and places as it shall deem advisable, including, without limitation, by telephone
conference or by written consent to the extent permitted by applicable law. A majority of the Committee members shall constitute a quorum. All determinations of the Committee shall be made by a
majority of its members. Any decision or determination reduced to writing and signed by all the Committee members in accordance with the By-Laws of the Company, shall be fully effective as
if it had been made by a vote at a meeting duly called and held. The Committee shall make such rules and regulations for the conduct of its business as it shall deem advisable. 

        3.6    Assistance of Employees and Advisors; Liability and Indemnification.    

        (a)    The
Committee may designate employees of the Company and professional advisors to assist the Committee in the administration of the Plan and (to the extent permitted by
applicable law and applicable exchange rules) may grant authority to officers or other employees to execute agreements or other documents on behalf of the Committee. 

7

 

        (b)    The
Committee may employ such legal counsel, consultants and agents as it may deem desirable for the administration of the Plan and may rely upon any opinion received
from any such counsel or consultant and any computation received from any such consultant or agent. Expenses incurred by the Committee or the Board in the engagement of any such counsel, consultant or
agent shall be paid by the Company. The Committee, its members and any person designated pursuant to sub-section (a) above shall not be liable for any action or determination made
in good faith with respect to the Plan. To the maximum extent permitted by applicable law, no officer of the Company or member or former member of the Committee or of the Board shall be liable for any
action or determination made in good faith with respect to the Plan or any Award granted under it. 

        3.7    Indemnification.    To the maximum extent permitted by applicable law and the
Certificate of Incorporation and By-Laws of the Company and to the extent not covered by insurance directly insuring such person, each officer and member or former member of the Committee
or the Board shall be indemnified and held harmless by the Company against any cost or expense (including reasonable fees of counsel reasonably acceptable to the Committee) or liability (including any
sum paid in settlement of a claim with the approval of the Committee), and advanced amounts necessary to pay the foregoing at the earliest time and to the fullest extent permitted, arising out of any
act or omission to act in connection with the administration of the Plan, except to the extent arising out of such officer's, member's or former member's own fraud or bad faith. Such indemnification
shall be in addition to any rights of indemnification the employees, officers, Directors or members or former officers, Directors or members may have under applicable law or under the Certificate of
Incorporation or By-Laws of the Company or any Affiliate or any agreement of indemnification. Notwithstanding anything else herein, this indemnification will not apply to the actions or
determinations made by an individual with regard to Awards granted to him or her under the Plan. 

        3.8    Delegation.    The Committee may delegate, to the extent permitted by law and
applicable stock exchange rules, to one or more Directors or one or more officers or a committee of Directors or officers the right to grant Awards to Eligible Employees who are not Directors or
officers of the Company and to cancel or suspend Awards to Eligible Employees who are not Directors or officers of the Company. 

 
 

ARTICLE IV
  SHARE LIMITATION    
    

        4.1    Shares.    

        (a)    Aggregate Limitation. The following provisions apply in determining the aggregate number of shares of Common Stock
available under the Plan. 

	(i)
	The
aggregate number of shares of Common Stock that may be granted under the Plan shall not exceed 6,044,715 shares plus (x) any Common Stock available for grant
under the Prior Plan as of the date stockholder approval of the Plan is obtained, and (y) any other shares under the Prior Plan that again become available under
Section 4.1(a)(ii) (subject to any increase or decrease pursuant to Section 4.2), which may be either authorized and unissued Common Stock or Common Stock held in or acquired for
the treasury of the Company or both. In no event shall the aggregate number of shares of Common Stock granted pursuant to Incentive Stock Options exceed 6,044,715 shares.

	(ii)
	If
an Award (or an award under the Prior Plan) is forfeited, expires or otherwise terminates without issuance, or is settled for cash, the shares of Common Stock
subject to such Award shall, to the extent of such forfeiture, expiration, termination or cash settlement, again be available for Awards under the Plan. If any shares of Common Stock subject to an
Award (or an award under the Prior Plan) are forfeited, expire or otherwise terminate without issuance 

8

 

of
such shares, or any Award or Prior Plan award is settled for cash, the shares shall, to the extent of such forfeiture, expiration, termination or cash settlement, again be available for Awards
under the Plan. If a Stock Appreciation Right is granted in tandem with an Option, such grant shall apply only once against the maximum number of shares of Common Stock that may be issued under the
Plan. Shares of Common Stock underlying Awards (or Prior Plan stock options) settled in cash shall again be available for issuance under the Plan. 

        (b)    Substitute Awards. Substitute Awards shall not reduce the shares of Common Stock authorized for grant under the Plan
pursuant to Section 4.1(a). Additionally, in the event that a company acquired by
the Company or an Affiliate, or with which the Company or an Affiliate combines, has shares available under a pre-existing plan approved by stockholders and not adopted in contemplation of
such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other
adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or
combination) may be used for Awards under the Plan and shall not reduce the shares of Common Stock authorized for grant under the Plan; provided that Awards using such available shares shall not be
made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall be made only to individuals who were
employed by the acquired company prior to such acquisition or combination. 

        4.2    Changes.    

        (a)    The
existence of the Plan and the Awards granted hereunder shall not affect in any way the right or power of the Board or the stockholders of the Company to make or
authorize (i) any adjustment, recapitalization, reorganization or other change in the Company's capital structure or its business, (ii) any merger or consolidation of the Company or any
Affiliate, (iii) any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock, (iv) the dissolution or liquidation of the Company or any
Affiliate, (v) any sale or transfer of all or part of the assets or business of the Company or any Affiliate or (vi) any other corporate act or proceeding. 

        (b)    Subject
to the provisions of Section 4.2(d), in the event of any such change in the capital structure or business of the Company by reason of any stock split,
reverse stock split, stock dividend, combination or reclassification of shares, recapitalization, merger, consolidation, spin-off, reorganization, partial or complete liquidation, issuance
of rights or warrants to purchase any Common Stock or securities convertible into Common Stock, any sale or transfer of all or part of the Company's assets or business, any special cash dividend or
any other corporate transaction or event having an effect similar to any of the foregoing and effected without receipt of consideration by the Company and the Committee determines in good faith that
an adjustment is necessary or appropriate under the Plan to prevent substantial dilution or enlargement of the rights granted to, or available for, Participants under the Plan, then the aggregate
number and kind of shares that thereafter may be issued under the Plan, the number and kind of shares or other property (including cash) to be issued upon exercise of an outstanding Award or under
other Awards granted under the Plan and the purchase price thereof shall be appropriately adjusted consistent with such change in such manner as the Committee may deem equitable to prevent substantial
dilution or enlargement of the rights granted to, or available for, Participants under the Plan, and any such adjustment determined by the Committee in good faith shall be final, binding and
conclusive on the Company and all Participants and employees and their respective heirs, executors, administrators, successors and assigns. In connection with any event described in this paragraph,
the Committee may provide, in its sole discretion, for the cancellation of any outstanding Awards and payment in cash or other property in exchange therefor. Except as provided in this
Section 4.2 or in the applicable Award agreement, a Participant shall have no rights by reason of any issuance by the Company of any class or securities convertible into stock of any class, any
subdivision or consolidation of shares of stock of any class, the payment of any stock dividend, any 

9

 

other
increase or decrease in the number of shares of stock of any class, any sale or transfer of all or part of the Company's assets or business or any other change affecting the Company's capital
structure or business. 

        (c)    Except
as otherwise determined by the Committee, fractional shares of Common Stock resulting from any adjustment in Awards pursuant to Section 4.2(a) or
(b) shall be aggregated until, and eliminated at, the time of exercise by rounding-down and any remaining fractional shares of Common Stock shall be settled in cash. Notice of any
adjustment shall be given by the Committee to each Participant whose Award has been adjusted and such adjustment (whether or not such notice is given) shall be effective and binding for all purposes
of the Plan. 

        (d)    In
the event of (x) a merger or consolidation in which the Company is not the surviving entity, (y) any transaction that results in the acquisition of
substantially all of the Company's outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or (z) the sale or transfer of all or
substantially all of the Company's assets (all of the foregoing being referred to as an "Acquisition Event"), then the Committee, in its sole
discretion, may terminate all vested and unvested Awards that are outstanding as of the date of Acquisition Event by delivering notice of termination to each Participant at least 20 days prior
to the date of the Acquisition Event, in which case, during the period from the date on which such notice of termination is delivered to the date of the Acquisition Event, each such Participant shall
have the right to exercise in full all of his or her vested and unvested Awards that are then outstanding (without regard to any limitations on vesting or exercisability otherwise contained in the
Award agreements), but any such exercise shall be contingent on the consummation of the Acquisition Event, and, provided that, if the Acquisition Event does not
occur within a specified period after giving such notice for any reason whatsoever, the notice and exercise pursuant thereto shall be null and void. If an Acquisition Event occurs but the Committee
does not terminate the outstanding Awards pursuant to this Section 4.2(d), then the provisions of Section 4.2(b) shall apply. 

        4.3    Minimum Purchase Price.    Notwithstanding any provision of the Plan to the contrary,
if authorized but previously unissued shares of Common Stock are issued under the Plan, such shares shall not be issued for a consideration that is less than as permitted under applicable law. 

 
 

ARTICLE V
  ELIGIBILITY    
    

        5.1    General Eligibility.    All Eligible Employees, Consultants and
Non-Employee Directors are eligible to be granted Awards. Eligibility for the grant of Awards and actual participation in the Plan shall be determined by the Committee in its sole
discretion. 

        5.2    Incentive Stock Options.    Notwithstanding the foregoing, only Eligible Employees of
the Company, its Subsidiaries and its Parent (if any) are eligible to be granted Incentive Stock Options under this Plan. Eligibility for the grant of an Incentive Stock Option and actual
participation in this Plan shall be determined by the Committee in its sole discretion. 

        5.3    General Requirement.    The vesting and exercise of Awards granted to a prospective
employee or consultant shall be conditioned upon such individual actually becoming an employee of or consultant to the Company or an Affiliate within a reasonable time thereafter, as determined by the
Committee. 

 
 

ARTICLE VI
  STOCK OPTIONS    
    

        6.1    Options.    Options may be granted alone or in addition to other Awards granted under
the Plan. The Committee shall have the authority to grant any Eligible Employee, Consultant or 

10

 

Non-Employee
Director one or more Options. Each Option granted under the Plan shall be either: (a) an Incentive Stock Option or (b) a Non-Qualified Stock Option. 

        6.2    Grants.    The Committee shall have the authority to grant to any Eligible Employee one
or more Incentive Stock Options, Non-Qualified Stock Options, or both types of Stock Options. The Committee shall have the authority to grant any Consultant or Non-Employee
Director one or more Non-Qualified Stock Options. To the extent that any Stock Option does not qualify as an Incentive Stock Option (whether because of its provisions or the time or manner
of its exercise or otherwise), such Stock Option or the portion thereof that does not so qualify shall constitute a separate Non-Qualified Stock Option. 

        6.3    Terms of Options.    Options granted under the Plan shall be subject to the following
terms and conditions and shall be in such form and contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Committee shall deem desirable: 

        (a)    Exercise Price. Other than in connection with Substitute Awards, the exercise price per share of Common Stock subject to
an Option shall be determined by the Committee at the time of grant, provided that the per-share exercise price of any Option shall not be less than 100% (or, in the case of an Incentive
Stock Option granted to a Ten Percent Stockholder, 110%) of the Fair Market Value of the Common Stock at the time of grant (unless adjusted in accordance with Section 4.2(b) pursuant to a
merger, acquisition, or similar corporate transaction). Other than pursuant to Section 4.2(b), in the absence of stockholder approval, the Committee shall not be permitted to (a) lower
the option price per share of an Option after it is granted, (b) cancel an Option when the option price per share exceeds the Fair Market Value of the underlying shares in exchange for another
Award (other than in connection with Substitute Awards), and (c) take any other action with respect to an Option that may be treated as a repricing under the rules and regulations of the New
York Stock Exchange. 

        (b)    Option Term. The term of each Option shall be fixed by the Committee, provided that no Option shall be exercisable more
than ten (10) years after the date the Option is granted, and provided, further, that the term of an Incentive Stock Option granted to a Ten Percent Stockholder shall not exceed five years. 

        (c)    Exercisability. Options shall be exercisable at such time or times and subject to such terms and conditions as shall be
determined by the Committee at grant. Notwithstanding the foregoing, the Committee may waive any limitations on exercisability at any time at or after grant in whole or in part
(including waiver of installment exercise provisions or acceleration of the time at which such Option may be exercised), including, without limitation, in connection with an employment termination. 

        (d)    Method of Exercise. Subject to whatever installment exercise and waiting period provisions apply under subsection
(c) above, to the extent vested, Options may be exercised in whole or in part at any time during the Option term, by giving written notice of exercise to the Company specifying the number of
shares of Common Stock to be purchased. Such notice shall be accompanied by payment in full of the purchase price (or arrangements satisfactory to the Committee made for such payment) as follows:
(i) in cash or by check, bank draft or money order payable to the order of the Company; or (ii) on such other terms and conditions as may be acceptable to the Committee, including the
tendering (either actually or through attestation) or withholding of shares of Common Stock. No shares of Common Stock shall be issued until payment therefor, as provided herein, has been made or
provided for. 

        (e)    Non-Transferability of Options. No Option shall be Transferable by the Participant otherwise than by will or
by the laws of descent and distribution, and all Options shall be exercisable, during the Participant's lifetime, only by the Participant. Notwithstanding the foregoing, the Committee may determine,
in its sole discretion, at the time of grant or thereafter that a Non-Qualified Stock Option that is otherwise not Transferable pursuant to this Section is Transferable to a Family Member
in whole 

11

 

or
in part and in such circumstances, and under such conditions, as specified by the Committee (including as provided under Section 11.2). A Non-Qualified Stock Option that is
Transferred to a Family Member pursuant to the preceding sentence (i) may not be subsequently Transferred otherwise than by will or by the laws of descent and distribution and
(ii) remains subject to the terms of the Plan and the applicable Award agreement. Any shares of Common Stock acquired upon the exercise of a Non-Qualified Stock Option by a
permissible transferee of a Non-Qualified Stock Option or a permissible transferee pursuant to a Transfer after the exercise of the Non-Qualified Stock Option shall be subject
to the terms of the Plan and the applicable Award agreement. 

        (f)    Termination by Death, Disability or Retirement. Except as otherwise (x) provided in a written agreement between
the Company and the Participant or (y) determined by the Committee at grant or (if no rights of the Participant are reduced) thereafter, if a Participant's Termination is by reason of death,
Disability or Retirement, all Options that are held by such Participant that are vested and exercisable at the time of the Participant's Termination may be exercised by the Participant (or, in the
case of death, by the legal representative of the Participant's estate) at any time within a period of one year from the date of such Termination, but in no event beyond the expiration of the stated
term of such Options if the Options are Incentive Stock Options or if such Termination is by reason of Retirement; provided, however, that in the case of Retirement or Disability, if the Participant
dies within such exercise period, all unexercised Options held by such Participant shall thereafter be exercisable, to the extent to which they were exercisable at the time of death, for a minimum
period of 90 days from the date of such death, but in no event beyond the expiration of the stated term of such Options if the Options are Incentive Stock Options. 

        (g)    Termination for Cause. Except as otherwise (x) provided in a written agreement between the Company and the
Participant or (y) determined by the Committee at grant or (if no rights of the Participant are reduced) thereafter, if a Participant's Termination (i) is for Cause or (ii) is a
voluntary Termination after the occurrence of an event that would be grounds for a Termination for Cause, all Options held by such Participant, whether or not vested, shall thereupon terminate and
expire as of the date of such Termination or, if earlier, the date of the Cause event. If a Participant's service with the Company is suspended pending an investigation of whether the Participant
shall be terminated for Cause, all of the Participant's rights under any Option shall be suspended during the period of investigation. 

        (h)    Termination for Any Other Reason. Except as otherwise (x) provided in a written agreement between the Company and
the Participant or (y) determined by the Committee at grant, or (if no rights of the Participant are reduced) thereafter, if a Participant's Termination is for any reason not set forth in
Section 6.3(g) or (h), all Options that are held by such Participant that are vested and exercisable at the time of the Participant's Termination may be exercised by the Participant at any time
within a period of 90 days from the date of such Termination, but in no event beyond the expiration of the stated term of such Options. 

        (i)    Unvested Options. Except as otherwise (x) provided in a written agreement between the Company and the Participant
or (y) determined by the Committee at grant or (if no rights of the Participant are reduced) thereafter, Options that are not vested as of the date of a Participant's Termination for any reason
shall terminate and expire as of the date of such Termination. 

        (j)    Incentive Stock Option Limitations. To the extent that the aggregate Fair Market Value (determined as of the time of
grant) of the Common Stock with respect to which Incentive Stock Options are exercisable for the first time by an Eligible Employee during any calendar year under this Plan and/or any other stock
option plan of the Company, any Subsidiary or any Parent exceeds $100,000 (or such other amount specified by applicable law), such Options shall be treated as Non-Qualified Stock Options.
Should any provision of this Plan not be necessary in order for the Stock Options to qualify as Incentive Stock Options, or should any additional provisions be required, the 

12

 

Committee
may amend this Plan accordingly, without the necessity of obtaining the approval of the stockholders of the Company. 

        (k)    Form, Modification, Extension and Renewal of Options. Subject to the terms and conditions and within the limitations of
the Plan, Options shall be evidenced by such form of agreement or grant as is approved by the Committee, and the Committee may (i) modify, extend or renew outstanding Options granted under the
Plan (provided that the rights of a Participant are not reduced without his or her consent), and (ii) accept the surrender of outstanding Options (up to the extent not theretofore
exercised) and authorize the granting of new Options in substitution therefor (to the extent not theretofore exercised). Notwithstanding the foregoing, an outstanding Option may not be modified to
reduce the exercise price thereof nor may a new Option at a lower price be substituted for a surrendered Option (other than adjustments or substitutions in accordance with Section 4.2), unless
such action is approved by the stockholders of the Company. 

        (l)    Buyout and Settlement Provisions. The Committee may at any time offer to buy out an Option previously granted, based on
such terms and conditions as the Committee shall establish and communicate to the Participant at the time that such offer is made. 

        (m)    Early Exercise. The Committee may provide that an Option include a provision whereby the Participant may elect at any
time before the Participant's Termination to exercise the Option as to any part or all of the shares of Common Stock subject to the Option prior to the full vesting of the Option and such shares shall
be subject to the provisions of Article VIII and treated as restricted stock. Any unvested shares of Common Stock so purchased may be subject to a repurchase option in favor of the Company or
to any other restriction the Committee determines to be appropriate. 

        (n)    Other Terms and Conditions. Options may contain such other provisions, which shall not be inconsistent with any of the
terms of the Plan, as the Committee shall deem appropriate. 

 
 

ARTICLE VII
  STOCK APPRECIATION RIGHTS    
    

        7.1    Tandem Stock Appreciation Rights.    Tandem Stock Appreciation Rights may be granted in
conjunction with all or part of any Option (a "Reference Stock Option") granted under the Plan. In the case of a Non-Qualified Stock Option,
such rights may be granted either at or after the time of the grant of such Reference Stock Option. In the case of an Incentive Stock Option, such rights may be granted only at the time of the grant
of such Reference Stock Option. 

        7.2    Terms and Conditions of Tandem Stock Appreciation Rights.    Tandem Stock Appreciation
Rights granted hereunder shall be subject to such terms and conditions, not inconsistent with the provisions of the Plan, as shall be determined from time to time by the Committee, and the following: 

        (a)    Term. A Tandem Stock Appreciation Right or applicable portion thereof granted with respect to a Reference Stock Option
shall terminate and no longer be exercisable upon the termination or exercise
of the Reference Stock Option, except that, unless otherwise determined by the Committee, in its sole discretion, at the time of grant, a Tandem Stock Appreciation Right granted with respect to less
than the full number of shares covered by the Reference Stock Option shall not be reduced until and then only to the extent the exercise or termination of the Reference Stock Option causes the number
of shares covered by the Tandem Stock Appreciation Right to exceed the number of shares remaining available and unexercised under the Reference Stock Option. 

        (b)    Exercisability. Tandem Stock Appreciation Rights shall be exercisable only at such time or times and to the extent that
the Reference Stock Options to which they relate shall be exercisable in accordance with the provisions of Article VI, and shall be subject to the provisions of Section 6.3(c). 

13

 

        (c)    Method of Exercise. A Tandem Stock Appreciation Right may be exercised by the Participant by surrendering the applicable
portion of the Reference Stock Option. Upon such exercise and surrender, the Participant shall be entitled to receive an amount determined in the manner prescribed in this Section 7.2. Options
that have been so surrendered, in whole or in part, shall no longer be exercisable to the extent the related Tandem Stock Appreciation Rights have been exercised. 

        (d)    Payment. Upon the exercise of a Tandem Stock Appreciation Right, a Participant shall be entitled to receive up to, but no
more than, an amount in cash and/or Common Stock (as determined by the Committee in its sole discretion at the time of grant or, if permitted by the grant, at the time of exercise) equal in value to
the excess of the Fair Market Value of one share of Common Stock over the Option exercise price per share specified in the Reference Stock Option agreement multiplied by the number of shares in
respect of which the Tandem Stock Appreciation Right shall have been exercised. The exercise price of a Tandem Stock Appreciation Right shall be required to be in accordance with Section 6.3(a)
on the date of grant except (i) if such Tandem Stock Appreciation Right is added to an Option after the date of grant of the Option, or (ii) in the case of Substitute Awards, in
connection with an adjustment pursuant to Section 4.2(b). 

        7.3    Non-Tandem Stock Appreciation Rights.    Non-Tandem Stock
Appreciation Rights may also be granted without reference to any Options granted under the Plan. 

        7.4    Terms and Conditions of Non-Tandem Stock Appreciation Rights.
    Non-Tandem Stock Appreciation Rights granted hereunder shall be subject to such terms and conditions, not inconsistent with the provisions of the Plan, as shall be determined
from time to time by the Committee, and the following: 

        (a)    Term. The term of each Non-Tandem Stock Appreciation Right shall be fixed by the Committee, but shall not
exceed ten (10) years after the date the right is granted. 

        (b)    Exercisability. Non-Tandem Stock Appreciation Rights shall be exercisable at such time or times and subject
to such terms and conditions as shall be determined by the Committee at grant. 

        (c)    Method of Exercise. Subject to the installment, exercise and waiting period provisions that apply under subsection
(b) above, Non-Tandem Stock Appreciation Rights may be exercised in whole or in part at any time in accordance with the applicable Award agreement, by giving written notice of
exercise to the Company specifying the number of Non-Tandem Stock Appreciation Rights to be exercised. 

        (d)    Payment. Upon the exercise of a Non-Tandem Stock Appreciation Right, a Participant shall be entitled to
receive, for each right exercised, an amount in cash and/or Common Stock (as determined by the Committee in its sole discretion at the time of grant or, if permitted by the grant, at the time of
exercise) no greater than the excess of the Fair Market Value of one share of Common Stock on the date the right is exercised over the Fair Market Value of one share of Common Stock on the date the
right was awarded to the Participant. The exercise price of a Non-Tandem Stock Appreciation Right may not be less than 100% of Fair Market Value of a share of Common Stock on the date of
grant except in the case of Substitute Awards, in connection with an adjustment pursuant to Section 4.2(b). Other than pursuant to Section 4.2(b), in the absence of stockholder approval,
the Committee shall not be permitted to (a) lower the Fair Market Value per share of a Non-Tandem Stock Appreciation Right after it is granted, (b) cancel a
Non-Tandem Stock Appreciation Right when the Fair Market Value per share at grant exceeds the Fair Market Value of the underlying shares in exchange for another Award (other than in
connection with Substitute Awards), and (c) take any other action with respect to a Non-Tandem Stock Appreciation Right that may be treated as a repricing under the rules and
regulations of the New York Stock Exchange. 

14

  

 
 

ARTICLE VIII
  RESTRICTED STOCK AWARDS AND RESTRICTED STOCK UNITS    
    

        8.1    Restricted Stock Awards and RSU Awards.    Restricted Stock Awards and RSU Awards may
be issued either alone or in addition to other Awards granted under the Plan. The Committee shall determine the Eligible Employees, Consultants and Non-Employee Directors, to whom, and the
time or times at which, grants of Restricted Stock Awards and RSU Awards shall be made, the number of shares to be awarded, the price (if any) to be paid by the Participant (subject to
Section 8.2), the time or times within which such Awards may be subject to forfeiture, the vesting schedule and rights to acceleration thereof, and all other terms and conditions of the Awards.
RSU Awards may be settled in shares of Common Stock and/or in cash or any combination as determined by the Committee in its sole discretion at or after the time of grant. 

        8.2    Awards and Certificates.    Eligible Employees, Consultants and
Non-Employee Directors selected to receive a Restricted Stock Award or RSU Award shall not have any rights with respect to such Award, unless and until such Participant has delivered a
fully executed copy of the agreement evidencing the Award to the Company and has otherwise complied with the applicable terms and conditions of such Award. Further, such Award shall be subject to the
following conditions: 

        (a)    Purchase Price. Unless (x) otherwise provided by the Committee or (y) prohibited by applicable law, the
purchase price of a Restricted Stock Award or RSU Award shall be zero. If required by law or the Committee otherwise determines that a Restricted Stock Award or RSU Award shall have a purchase price,
such purchase price shall not be less than par value. 

        (b)    Acceptance. Restricted Stock Awards must be accepted within the period, if any, specified by the Committee at grant, by
executing an Award agreement and by paying the price (if any) the Committee has designated thereunder (such acceptance may be in any manner that the Committee may establish, including deemed
acceptance). 

        8.3    Restrictions and Conditions.    Restricted Stock Awards and RSU Awards awarded pursuant
to the Plan shall be subject to the following restrictions and conditions: 

        (a)    Restriction Period.

	(i)
	The
Participant shall not be permitted to Transfer a Restricted Stock Award or RSU Award awarded under the Plan during the period or periods set by the Committee (the
"Restriction Period") commencing on the date of such Award, as set forth in the Award agreement and such agreement shall set forth a vesting schedule
and any events that would accelerate vesting of the Restricted Stock Award or RSU Award. The Committee may place conditions on the grant based on service, attainment of performance goals pursuant to
Section 8.3(a)(ii) below and/or such other factors or criteria as the Committee may determine in its sole discretion. In addition, the Committee in its sole discretion may
(A) provide for the lapse of restrictions in whole or in part, (B) accelerate the vesting of all or any part of any Restricted Stock Award or RSU Award and/or (C) waive the
deferral limitations for all or any part of any such Award.

	(ii)
	Objective Performance Goals, Formulas or Standards. If the grant of a Restricted Stock Award or RSU Award or the lapse
of restrictions is based on the attainment of performance goals, the Committee shall establish the objective performance goals, including, to the extent the Committee so determines, from among those
set forth in Exhibit A hereto, and the applicable vesting percentage of the Restricted Stock Award or RSU Award applicable to each Participant or class of Participants in writing prior to the
beginning of the applicable fiscal year or at such later date as otherwise determined by the Committee and while the outcome of the performance goals are substantially uncertain. 

15

 

        (b)    Rights as a Stockholder; Dividends. Beginning on the date of grant of a Restricted Stock Award and subject to acceptance
of the associated Award agreement, the Participant shall become a stockholder of the Company with respect to all shares of Common Stock subject to the Restricted Stock Award and shall have all of the
rights of a stockholder, including the right to vote such shares and the right to receive distributions made with respect to such shares; provided, however, that, in the absence of Committee action to
the contrary, any shares of Common Stock or any other property (other than regular cash distributions) distributed as a dividend or otherwise with respect to any Restricted Stock Award as to which the
restrictions have not yet lapsed shall be subject to the same restrictions as the shares covered by such Award. 

        (c)    Termination. Except as otherwise (x) provided in a written agreement between the Company and the Participant or
(y) determined by the Committee at grant or (if no rights of the Participant are reduced)
thereafter, subject to the applicable provisions of the Award agreement and the Plan, upon a Participant's Termination for any reason during the relevant Restriction Period, all Restricted Stock
Awards and RSU Awards still subject to restriction will vest or be forfeited in accordance with the terms and conditions established by the Committee at grant or thereafter. In the absence of such
provisions in the Award agreement, in the event of: (i) death, Disability or Retirement, restrictions shall lapse on the Participant's Restricted Stock Awards and RSU Awards on a pro rata
monthly basis through the date of Termination, with performance awards paid at the end of the performance period based on actual results; and (ii) any other Termination, any unvested Restricted
Stock Awards or RSUs shall immediately be cancelled. 

        (d)    Lapse of Restrictions. If and when the Restriction Period expires without a prior forfeiture of the Restricted Stock
Award or RSU Award, certificates for shares attributable to such Award shall be delivered to the Participant (or, if certificates were previously issued, replacement certificates shall be delivered
upon return of the previously issued certificates). All legends shall be removed from said certificates at the time of delivery to the Participant, except as otherwise required by applicable law or
other limitations imposed by the Committee. Notwithstanding the foregoing, actual certificates shall not be issued to the extent that book entry recordkeeping is used. 

 
 

ARTICLE IX
  PERFORMANCE AWARDS    
    

        9.1    Performance Awards.    Performance Awards may be awarded either alone or in addition to
other Awards granted under the Plan. The Committee shall determine the Eligible Employees, Consultants and Non-Employee Directors, to whom, and the time or times at which, Performance
Awards shall be awarded, the number of Performance Awards to be awarded to any person, the duration of the period (the "Performance Period") during
which, and the conditions under which, a Participant's right to Performance Awards will be vested, the ability of Participants to defer receipt of Performance Awards, and the other terms and
conditions of the Award in addition to those set forth in Section 9.2. 

        The
Committee shall condition the right to payment or vesting of any Performance Award upon the attainment of objective performance goals established pursuant to Section 9.2(b)
below. 

        9.2    Terms and Conditions.    Performance Awards awarded pursuant to this Article IX
shall be subject to the following terms and conditions: 

        (a)    Earning or Vesting of Performance Award. At the expiration of the applicable Performance Period, the Committee shall
determine the extent to which the performance goals established pursuant to Section 9.2(b) are achieved and the percentage of each Performance Award that has been earned or vested. 

16

 

        (b)    Objective Performance Goals, Formulas or Standards. The Committee shall establish the objective performance goals,
including, to the extent the Committee so determines, from among those set forth in Exhibit A hereto, for the earning of Performance Awards based on a Performance Period applicable to each
Participant or class of Participants in writing prior to the beginning of the applicable Performance Period or, to the extent such Award is intended to comply with Section 162(m) of the Code,
at such later date as permitted thereunder and while the outcome of the performance goals is substantially uncertain. 

        (c)    Payment. Following the Committee's determination, shares of Common Stock and/or cash, as determined by the Committee in
its sole discretion at the time of grant or, if permitted by the grant, thereafter, shall be delivered to the Eligible Employee, Consultant or Non-Employee Director, or his legal
representative, in an amount equal to such individual's earned or vested Performance Award. Notwithstanding the foregoing, the Committee may, in its sole discretion and, to the extent
Section 162(m) of the Code is applicable, in accordance therewith, (i) award a number of shares of Common Stock or an amount of cash less than the earned Performance Award and/or
(ii) subject the payment of all or part of any Performance Award to additional vesting, forfeiture and deferral conditions. 

        (d)    Termination. Subject to the applicable provisions of the Award agreement and the Plan, upon a Participant's Termination
for any reason during the Performance Period for a Performance Award, such Performance Award will vest or be forfeited in accordance with the terms and conditions established by the Committee at grant
or, if no rights of the Participant are reduced, thereafter. 

        (e)    Accelerated Vesting. The Committee, in its sole discretion, may accelerate the vesting of all or any part of any
Performance Award or waive the deferral limitations for all or any part of such Award. 

 
 

ARTICLE X
  OTHER STOCK-BASED AWARDS    
    

        10.1    Other Awards.    

        (a)    Subject
to the limitations set forth in Section 4.1(a), the Committee is authorized to grant to Eligible Employees, Consultants and Non-Employee
Directors Other Stock-Based Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to, shares of Common Stock, including, but not limited to,
(a) shares of Common Stock awarded purely as a bonus and not subject to any restrictions or conditions, (b) shares of Common Stock in payment of the amounts due under an incentive or
performance plan sponsored or maintained by the Company or an Affiliate, (c) stock equivalent units, and (d) Awards valued by reference to book value of shares of Common Stock. Other
Stock-Based Awards may be granted either alone or in addition to or in tandem with other Awards granted under the Plan. 

        (b)    Subject
to the provisions of the Plan, the Committee shall have authority to determine the Eligible Employees, Consultants and Non-Employee Directors to
whom, and the time or times at which, such Awards shall be made, the number of shares of Common Stock to be awarded pursuant to such Awards, and all other conditions of the Awards. 

        (c)    The
Committee may condition the grant or vesting of Other Stock-Based Awards upon the attainment of specified performance goals, including, to the extent the Committee
so determines, from among those set forth on Exhibit A hereto, as the Committee may determine, in its sole discretion. 

17

 

        10.2    Terms and Conditions.    Other Stock-Based Awards made pursuant to this
Article X shall be subject to the following terms and conditions: 

        (a)    Vesting. Any Award under this Article X and any Common Stock covered by any such Award shall vest or be forfeited
to the extent so provided in the Award agreement, as determined by the Committee, in its sole discretion. 

        (b)    Price. Common Stock issued on a bonus basis under this Article X may be issued for no cash consideration to the
extent permitted by law. 

 
 

ARTICLE XI
  TERMINATION OR AMENDMENT OF PLAN/NON-TRANSFERABILITY OF AWARDS    
    

        11.1    Termination or Amendment.    Notwithstanding any other provision of the Plan, the
Board (or a duly authorized Committee thereof) may at any time, and from time to time, amend, in whole or in part, any or all of the provisions of the Plan (including any amendment deemed necessary to
ensure that the Company may comply with any regulatory requirement referred to in Article XIV), or suspend or terminate it entirely, retroactively or otherwise; provided, however, that, except
(x) to correct obvious drafting errors or as otherwise required by law or (y) as specifically provided herein, the rights of a Participant with respect to Awards granted prior to such
amendment, suspension or termination, may not be reduced without the consent of such Participant and, provided further, without the approval of the holders of the Company's Common Stock entitled to
vote in accordance with applicable law, no amendment may be made that would (i) increase the aggregate number of shares of Common Stock that may be issued under the Plan under
Section 4.1(a) (except by operation of Section 4.2); (ii) change the classification of individuals eligible to receive Awards under the Plan; (iii) extend the maximum
option period under Section 6.3; (iv) materially alter the performance goals as set forth in Exhibit A; or (v) require stockholder approval in order for the Plan to
continue to comply with the applicable provisions of Section 162(m) of the Code, the applicable stock exchange rules, or, to the extent applicable to Incentive Stock Options, Section 422
of the Code. In no event may the Plan be amended without the approval of the stockholders of the Company in accordance with the applicable laws of the State of Delaware to increase the aggregate
number of shares of Common Stock that may be issued under the Plan, decrease the minimum exercise price of any Award, or to make any other amendment that would require stockholder approval under the
rules of any exchange or system on which the Company's securities are listed or traded at the request of the Company. The Committee may amend the terms of any Award theretofore granted, prospectively
or retroactively, but, subject to Article IV above, except (x) to correct obvious drafting errors or as otherwise required by law or applicable accounting rules, or (y) as
specifically provided herein, no such amendment or other action by the Committee shall reduce the rights of any holder without the holder's consent. 

        11.2    Non-Transferability of Awards.    Subject to Section 6.3(e), except
as the Committee may permit, in its sole discretion, at the time of grant or thereafter, no Award shall be Transferable by the Participant (including, without limitation to, a Family Member) otherwise
than by will or by the laws of descent and distribution, and all Awards shall be exercisable, during the Participant's lifetime, only by the Participant. Any attempt to Transfer any Award or benefit
not otherwise permitted by the Committee in accordance with the foregoing sentence shall be void, and any such benefit shall not in any manner be liable for or subject to the debts, contracts,
liabilities, engagements or torts of any person who shall be entitled to such benefit, nor shall it be subject to attachment or legal process for or against such person. An Option that is Transferred
pursuant to the preceding sentence (i) may not be subsequently Transferred otherwise than by will or by the laws of descent and distribution, except as may otherwise be permitted by the
Committee and (ii) remains subject to the terms of the Plan and the applicable Award agreement. Notwithstanding anything to the contrary contained in this Section 11.2 (or, with respect
to a Non-Qualified Stock Option, Section 6.3(e)), if and to the extent 

18

 

approved
by the Committee in its sole discretion, an employee or Non-Employee Director may transfer an Award (but not Awards constituting in excess of one percent of the Common Stock
outstanding in any single Transfer) to a charitable organization. Any shares of Common Stock acquired by a permissible transferee shall continue to be subject to the terms of the Plan and the
applicable Award agreement. 

 
 

ARTICLE XII
  UNFUNDED PLAN    
    

        12.1    Unfunded Status of Plan.    The Plan is intended to constitute an "unfunded" plan for
incentive and deferred compensation. With respect to any payments as to which a Participant has a fixed and vested interest but that are not yet made to a Participant by the Company, nothing contained
herein shall give any such Participant any rights that are greater than those of a general unsecured creditor of the Company. 

 
 

ARTICLE XIII
  GENERAL PROVISIONS    
    

        13.1    Legend and Custody.    

        (a)    The
Committee may require each person receiving shares of Common Stock pursuant to an Option or other Award under the Plan to represent to and agree with the Company in
writing that the Participant is acquiring the shares without a view to distribution thereof. In addition to any legend required by the Plan, the certificates for such shares may include any legend
that the Committee deems appropriate to reflect any restrictions on Transfer. 

        (b)    All
certificates for shares of Common Stock delivered under the Plan shall be subject to such stop transfer orders and other restrictions as the Committee may deem
advisable under (a) the rules, regulations and other requirements of the Securities and Exchange Commission, (b) any stock exchange upon which the Common Stock is then listed or any
national securities exchange system upon whose system the Common Stock is then quoted, or (c) applicable law, and the Committee may cause a legend or legends to be put on any such certificates
to make appropriate reference to such restrictions. 

        (c)    If
stock certificates are issued in respect of an Award, the Committee may require that any stock certificates evidencing such Award be held in custody by the Company
until the Award has vested or the restrictions thereon have lapsed, and that, as a condition of any grant of such an Award, the Participant shall have delivered a duly signed stock power, endorsed in
blank, relating to the Common Stock covered by such Award. 

        13.2    Other Plans.    Nothing contained in the Plan shall prevent the Board from adopting
other or additional compensation arrangements, subject to stockholder approval if such approval is required; and such arrangements may be either generally applicable or applicable only in specific
cases. 

        13.3    Deferral; Dividends and Dividend Equivalents.    The Committee may, in its sole
discretion, establish terms and conditions pursuant to which the cash payment or delivery of Common Stock pursuant to an Award may be deferred. Subject to the provisions of the Plan, the terms of any
Award (including a deferred Award) may provide, if so determined by the Committee in its sole discretion, for the payment of cash, Common Stock or other property dividends, or cash payments in amounts
equivalent to cash, Common Stock or other property dividends ("Dividend Equivalents"), on either a current or a deferred basis, with respect to the
number of shares of Common Stock subject to such Award. The Committee may also provide that any such dividends or dividend equivalents shall be subject to the same restrictions and risk of forfeiture
as the underlying Award or be deemed to have been reinvested in additional Awards or otherwise reinvested. 

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        13.4    No Right to Employment/Directorship/Consultancy.    Neither the Plan nor the grant of
any Option or other Award hereunder shall give any Participant or other employee, Consultant or Non-Employee Director any right with respect to continuance of employment, consultancy or
directorship by the Company or any Affiliate, nor shall they be a limitation in any way on the right of the Company or any Affiliate by which an employee is employed or a Consultant or
Non-Employee Director is retained to terminate his or her employment, consultancy or directorship at any time. 

        13.5    Withholding of Taxes.    The Company shall have the right to deduct from any payment
to be made pursuant to the Plan, or to otherwise require, prior to the issuance or delivery of any shares of Common Stock or the payment of any cash hereunder, payment by the Participant of, any
federal, state or local taxes required by law to be withheld. Upon the vesting of a Restricted Stock Award or RSU Award (or other Award that is taxable upon vesting), or upon making an election under
Section 83(b) of the Code, a Participant shall pay all required withholding to the Company. If permitted by the Committee, the minimum statutorily required withholding obligation with regard to
any Participant may be satisfied by (i) reducing the number of shares of Common Stock otherwise deliverable or by delivering shares of Common Stock already owned, or (ii) the
Participant's tendering to the Company of shares of Common Stock owned by such Participant for at least six months (or such other period, if any, required by the Committee to avoid adverse accounting
treatment) or otherwise acquired by such Participant on the open market. Any fraction of a share of Common Stock required to satisfy such tax obligations shall be disregarded and the amount due shall
be paid instead in cash by the Participant. 

        13.6    Listing and Other Conditions.    

        (a)    Except
as otherwise determined by the Committee, as long as the Common Stock is listed on a national securities exchange or system sponsored by a national securities
association, the issuance of any shares of Common Stock pursuant to an Award shall be conditioned upon such shares being listed on such exchange or system. The Company shall have no obligation to
issue such shares unless and until such shares are so listed, and the right to exercise any Option or other Award with respect to such shares shall be suspended until such listing has been effected. 

        (b)    If
at any time counsel to the Company shall be of the opinion that any sale or delivery of shares of Common Stock pursuant to an Option or other Award is or may be
unlawful or result in the imposition of excise taxes on the Company under the statutes, rules or regulations of any applicable jurisdiction, the Company shall have no obligation to make such sale or
delivery, or to make any application or to effect or to maintain any qualification or registration under the Securities Act or otherwise, with respect to shares of Common Stock or Awards, and the
right to exercise any Option or other Award shall be suspended until, in the opinion of said counsel, such sale or delivery shall be lawful or will not result in the imposition of excise taxes on the
Company. 

        (c)    Upon
termination of any period of suspension under this Section 13.6, any Award affected by such suspension that shall not then have expired or terminated shall
be reinstated as to all shares available before such suspension and as to shares that would otherwise have become available during the period of such suspension, but no such suspension shall extend
the term of any Award. 

        (d)    A
Participant shall be required to supply the Company with any certificates, representations and information that the Company requests, and otherwise to cooperate with
the Company in obtaining any listing, registration, qualification, exemption, consent or approval as the Company deems necessary or appropriate. 

        13.7    Governing Law.    The Plan and actions taken in connection herewith shall be governed
and construed in accordance with the laws of the State of Delaware (regardless of the law that might otherwise govern under applicable Delaware principles of conflict of laws). 

        13.8    Construction.    Wherever any words are used in the Plan in the masculine gender they
shall be construed as though they were also used in the feminine gender in all cases where they would so 

20

 

apply,
and wherever any words are used herein in the singular form they shall be construed as though they were also used in the plural form in all cases where they would so apply. 

        13.9    Other Benefits.    No Award granted or paid out under the Plan shall be deemed
compensation for purposes of computing benefits under any retirement plan of the Company or its Affiliates nor affect any benefits under any other benefit plan now or subsequently in effect under
which the availability or amount of benefits is related to the level of compensation. 

        13.10    Costs.    The Company shall bear all expenses associated with administering the Plan,
including expenses of issuing Common Stock pursuant to any Awards hereunder. 

        13.11    No Right to Same Benefits.    The provisions of Awards need not be the same with
respect to each Participant, and such Awards to individual Participants need not be the same in subsequent years. 

        13.12    Death/Disability.    The Committee may, in its sole discretion, require the
transferee of a Participant to supply it with written notice of the Participant's death or Disability and to supply it with a copy of the will (in the case of the Participant's death) and/or such
other evidence as the Committee deems necessary to establish the validity of the transfer of an Award. The Committee may also require that the agreement of the transferee to be bound by all of the
terms and conditions of the Plan. 

        13.13    Section 16(b) of the Exchange Act.    All elections and transactions under the
Plan by persons subject to Section 16 of the Exchange Act involving shares of Common Stock are intended to comply with any
applicable exemptive condition under Rule 16b-3. The Committee may establish and adopt written administrative guidelines, designed to facilitate compliance with Section 16(b)
of the Exchange Act, as it may deem necessary or proper for the administration and operation of the Plan and the transaction of business thereunder. 

        13.14    Section 409A of the Code.    The Board may amend the Plan as it deems
advisable to comply with Section 409A of the Code without stockholder consent. 

        13.15    Successor and Assigns.    The Plan shall be binding on all successors and permitted
assigns of a Participant, including, without limitation, the estate of such Participant and the executor, administrator or trustee of such estate. 

        13.16    Severability of Provisions.    If any provision of the Plan shall be held invalid or
unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been included. 

        13.17    Payments to Minors, Etc.    Any benefit payable to or for the benefit of a minor, an
incompetent person or other person incapable of receipt thereof shall be deemed paid when paid to such person's guardian or to the party providing or reasonably appearing to provide for the care of
such person, and such payment shall fully discharge the Committee, the Board, the Company, its Affiliates and their employees, agents and representatives with respect thereto. 

        13.18    Headings and Captions.    The headings and captions herein are provided for reference
and convenience only, shall not be considered part of the Plan, and shall not be employed in the construction of the Plan. 

 
 

ARTICLE XIV
  EFFECTIVE DATE OF PLAN    
    

        The Plan shall become effective upon the date specified by the Board in its resolution adopting the Plan, subject to the approval of the Plan by the stockholders
of the Company within 12 months before or after such date of adoption, in accordance with the requirements of the laws of the State of Delaware. 

21

 

 
 

ARTICLE XV
  TERM OF PLAN    
    

        No Award shall be granted pursuant to the Plan on or after the tenth anniversary of the earlier of the date the Plan is adopted or the date of stockholder
approval, but Awards granted prior to such tenth anniversary may extend beyond that date. 

 
 

ARTICLE XVI
  NAME OF PLAN    
    

        The Plan shall be known as "NeuStar, Inc. 2005 Stock Incentive Plan." 

22

 
 
 

EXHIBIT A PERFORMANCE GOALS    
    

        Performance goals established for purposes of the grant or vesting of performance-based Restricted Stock Awards, RSU Awards, Performance Awards and/or Other
Stock-Based Awards shall be based on one or more of the following performance goals ("Performance Goals"), which may be set in terms of the performance
of the Company or any subsidiary, division, other operational unit or business segment of the Company: (i) the attainment of certain target levels of, or a specified increase in, enterprise
value or value creation targets; (ii) the attainment of certain target levels of, or a specified increase in, after-tax or pre-tax profits, including without limitation
as attributable to continuing and/or other operations of the Company; (iii) the attainment of certain target levels of, or a specified increase in, operational cash flow or economic value
added; (iv) the attainment of a certain level of reduction of, or other specified objectives with regard to limiting the level of increase in all or a portion of, the Company's bank debt or
other long-term or short-term public or private debt or other similar financial obligations of the Company, which may be calculated net of cash balances and/or other offsets
and adjustments as may be established by the Committee; (v) the attainment of certain target levels of, or a specified increase in, earnings per share or earnings per share from continuing
operations; (vi) the attainment of certain target levels of, or a specified increase in, net sales, revenues, net income or earnings before income tax or other exclusions; (vii) the
attainment of certain target levels of, or a specified increase in, return on capital employed or return on invested capital; (viii) the attainment of certain target levels of, or a specified
increase in, after-tax or pre-tax return on stockholder equity; (ix) the attainment of certain target levels of, or a specified increase in, the fair market value of the
shares of the Company's
Common Stock; (x) the growth in the value of an investment in the Company's Common Stock assuming the reinvestment of dividends; (xi) a transaction that results in the sale of stock or
assets of the Company; (xii) the attainment of certain target levels of, or a specified reduction in, expenses; or (xiii) implementation, completion or attainment of interim measurable
goals with regard to research, development, products or projects. The Committee may also exclude the impact of an event or occurrence which the Committee determines should be appropriately excluded,
including (i) restructurings, discontinued operations, extraordinary items, and other unusual or non-recurring charges, (ii) an event either not directly related to the
operations of the Company or not within the reasonable control of the Company's management, or (iii) a change in tax law or accounting standards required by generally accepted accounting
principles. 

        In
addition, such Performance Goals may be based upon the attainment of specified levels of Company (or subsidiary, division or other operational unit or business segment of the Company)
performance under one or more of the measures described above relative to the performance of other corporations. The Committee may: (i) designate additional business criteria on which the
performance goals may be based or (ii) adjust, modify or amend the aforementioned business criteria. 

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QuickLinks

NEUSTAR, INC. 2005 Stock Incentive Plan

TABLE OF CONTENTS

NEUSTAR, INC.

ARTICLE I PURPOSE

ARTICLE II DEFINITIONS

ARTICLE III ADMINISTRATION

ARTICLE IV SHARE LIMITATION

ARTICLE V ELIGIBILITY

ARTICLE VI STOCK OPTIONS

ARTICLE VII STOCK APPRECIATION RIGHTS

ARTICLE VIII RESTRICTED STOCK AWARDS AND RESTRICTED STOCK UNITS

ARTICLE IX PERFORMANCE AWARDS

ARTICLE X OTHER STOCK-BASED AWARDS

ARTICLE XI TERMINATION OR AMENDMENT OF PLAN/NON-TRANSFERABILITY OF AWARDS

ARTICLE XII UNFUNDED PLAN

ARTICLE XIII GENERAL PROVISIONS

ARTICLE XIV EFFECTIVE DATE OF PLAN

ARTICLE XV TERM OF PLAN

ARTICLE XVI NAME OF PLAN

EXHIBIT A PERFORMANCE GOALS

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