Document:

Exhibit 10.37  

VIACOM INC.

2006 RSU PLAN FOR OUTSIDE DIRECTORS  

ARTICLE I

GENERAL  

Section 1.1    Purpose.  

        The purpose of the Viacom Inc. 2006 RSU Plan for Outside Directors (the "Plan") is to benefit and advance the interests of Viacom Inc., a Delaware
corporation (the "Company"), and its subsidiaries by obtaining and retaining the services of qualified persons who are not employees of the Company or its subsidiaries to serve as directors and to
induce them to make a maximum contribution to the success of the Company and its subsidiaries. 

Section 1.2    Definitions.  

        As used in the Plan, the following terms shall have the following meanings: 

        (a)   "Agreement"
shall mean the written agreement or certificate or other documentation governing an Award under the Plan, which shall contain terms and conditions not
inconsistent with the Plan and which shall incorporate the Plan by reference. 

        (b)   "Annual
RSU Grant" shall have the meaning set forth in Section 2.1. 

        (c)   "Award"
shall mean any Director RSU or Dividend Equivalent. 

        (d)   "Board"
shall mean the Board of Directors of the Company. 

        (e)   "Class B
Common Stock" shall mean the shares of Class B Common Stock, par value $0.001 per share, of the Company. 

        (f)    "Code"
shall mean the Internal Revenue Code of 1986, as amended, including any successor law thereto, and the rules and regulations promulgated thereunder from time to
time. 

        (g)   "Company"
shall have the meaning set forth in Section 1.1. 

        (h)   "Director
RSUs" shall mean a contractual right granted to a Participant pursuant to Article II to receive shares of Class B Common Stock, subject to the
terms and conditions set forth in the Plan. Director RSUs shall be settled exclusively in Class B Common Stock, with fractional shares payable in cash. 

        (i)    "Dividend
Equivalent" shall mean a right to receive a payment based upon the value of the regular cash dividend paid on a specified number of shares of Class B
Common Stock as set forth in Article III below. Payment in respect of Dividend Equivalents upon settlement shall be in shares of Class B Common Stock except as set forth in
Article III below. 

        (j)    "Effective
Date" shall mean the effective date of the Plan provided for in Article VIII below. 

        (k)   "Fair
Market Value" of a share of Class B Common Stock on a given date shall be the closing price on such date on the New York Stock Exchange or other principal
stock exchange on which the Class B 

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Common
Stock is then listed, as reported by The Wall Street Journal (Northeast edition) as the 4:00 p.m. (New York time) closing price or as reported by any other authoritative source selected
by the Company. 

        (l)    "Outside
Director" shall mean any member of the Board who is not an employee of the Company or any of its Subsidiaries. 

        (m)  "Participant"
shall mean any Outside Director to whom Awards have been granted under the Plan. 

        (n)   "Plan"
shall have the meaning set forth in Section 1.1. 

        (o)   "Separation"
means the series of transactions by which the Company was separated from the former Viacom Inc. (renamed CBS Corporation), which prior to such
transactions had been the parent corporation of the Company. 

        (p)   "Separation
Date" means the closing date of the transactions by which the Separation was effected. 

        (q)   "Stock
Option Plan" shall mean the Viacom Inc. 2006 Stock Option Plan for Outside Directors. 

        (r)   "Subsidiary"
shall mean a corporation (or a partnership or other enterprise) in which the Company owns or controls, directly or indirectly, more than 50% of the
outstanding shares of stock normally entitled to vote for the election of directors (or comparable equity participation and voting power). 

        (s)   "Substitute
Awards" means Awards granted upon assumption of, or in substitution for, outstanding awards previously granted by a company or other entity all or a portion
of the assets or equity of which is acquired by the Company, with which the Company mergers or otherwise combines or from which the Company is spun-off or otherwise separated. 

Section 1.3    Administration of the Plan.  

        The Plan shall be administered by the members of the Board who are not Outside Directors and such Board members shall determine all questions of interpretation,
administration and application of the Plan. Such Board members' determinations shall be final and binding in all matters relating to the Plan. The Board may authorize any officer of the Company to
execute and deliver an Agreement on behalf of the Company to a Participant. 

Section 1.4    Eligible Persons.  

        Awards shall be granted only to Outside Directors. 

Section 1.5    Class B Common Stock Subject to the Plan.  

        Subject to adjustment in accordance with the provisions of Article IV hereof, the maximum number of shares of Class B Common Stock that may be
issued under the Plan, when aggregated with the number of shares of Class B Common Stock that may be issued under the Stock Option Plan, shall be 500,000 shares. Any shares of Class B
Common Stock underlying Substitute Awards shall not be counted against this limit. The shares of Class B Common Stock shall be made available from authorized but unissued shares of
Class B Common Stock or from shares of Class B Common Stock issued and held in the treasury of the Company. The settlement of any Awards under the Plan in any manner shall result in a
decrease in the number of shares of Class B Common Stock which thereafter may be issued for purposes of this Section 1.5 

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by
the number of shares issued upon such settlement. Shares of Class B Common Stock with respect to which Awards lapse, expire or are cancelled without being settled or are otherwise terminated
may be regranted under the Plan. 

ARTICLE II

RESTRICTED SHARE UNITS  

Section 2.1    Grants of Restricted Share Units.  

        (a)   On
January 31st of 2006 and each subsequent year, each Outside Director shall automatically be granted a number of Director RSUs determined by dividing
(i) $55,000 by (ii) the Fair Market Value of one share of Class B Common Stock on the date of grant (an "Annual RSU Grant"). If the date of grant is not a business day on which
the Fair Market Value can be determined, then the Fair Market Value shall be determined as of the last business day preceding the relevant date of grant on which the Fair Market Value can be
determined. The terms and conditions of the Director RSUs shall be set forth in an Agreement which shall be delivered to the Participants reasonably promptly following the relevant date of grant of
such Director RSUs. 

        (b)   The
Annual RSU Grants shall not be prorated and persons who become Outside Directors after the date of a particular Award shall first become eligible to receive an Award
under the Plan as of the date of the next Annual RSU Grant. 

Section 2.2    Vesting.  

        Director RSUs shall be settled only to the extent the Participant is vested therein. Subject to Section 2.3(b), each Annual RSU Grant shall vest on the
first anniversary of the relevant date of grant. 

Section 2.3    Settlement of Restricted Share Units.  

        (a)   Settlement. On the date on which Director RSUs vest, all restrictions contained in the Agreement covering such Director
RSUs and in the Plan shall lapse as to such Director RSUs and the Director RSUs shall be payable in shares of Class B Common Stock, with any fractional shares payable in cash, and shall be
evidenced in such manner as the Board in its discretion shall deem appropriate, including, without limitation, book-entry registration or issuance of one or more stock certificates. If
stock certificates are issued, such certificates shall be delivered to the Participant or such certificates shall be credited to a brokerage account if the Participant so directs;  provided, however, that such certificates shall bear such legends as the Board, in its sole discretion,
may determine to be necessary or advisable in order to comply with applicable federal or state securities laws. Any fractional shares of Class B Common Stock to which a Participant becomes
entitled shall not be settled by delivery of shares but instead shall be paid in cash, based on the Fair Market Value of the Class B Common Stock on the date of payment. 

        (b)   Settlement in the Event of Termination of Services. If the services of a Participant as a director of the Company
terminate for any reason the Participant shall forfeit all unvested Director RSUs as of the date of such event. 

        (c)   Deferral of Settlement. Notwithstanding Section 2.3(a), a Participant may elect to defer settlement of any or all
Director RSUs to a date subsequent to the vesting date of such Director RSUs, provided that such election to defer is made no later than
December 31 of the taxable year prior to the year in which the Outside Director performs the services for which such Director RSUs are granted. Settlement of any deferred Director RSUs shall be
made in a single distribution or three or five annual installments in 

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accordance
with the Participant's deferral election. The single distribution or first annual installment, as applicable, will be payable on the later of (i) six months following the date of the
Participant's termination of services on the Board for any reason or (ii) January 31 of the calendar year following the calendar year in which the Participant's services on the Board
terminates for any reason. 

ARTICLE III

DIVIDEND EQUIVALENTS  

        The Participant shall be entitled to receive Dividend Equivalents on the Director RSUs in the event the Company pays a regular cash dividend with respect to the
shares of Class B Common Stock. The Company shall maintain a bookkeeping record that credits the dollar amount of the Dividend Equivalents to a Participant's account on the date that it pays
such regular cash dividend on the shares of Class B Common Stock. Dividend Equivalents shall accrue on the Director RSUs until the Director
RSUs vest, at which time they shall be paid in shares of Class B Common Stock determined by dividing (i) the aggregate amount credited in respect of such Dividend Equivalents by
(ii) the Fair Market Value on the vesting date, with any fractional shares resulting from this calculation paid in cash. Payment of Dividend Equivalents that have been credited to the
Participant's account will not be made with respect to any Director RSUs that do not vest and are cancelled. 

        In
addition, if the Participant elects to defer settlement of the Director RSUs, such Director RSUs will continue to earn Dividend Equivalents on the deferred Director RSUs through the
settlement date. All such Dividend Equivalents credited to the Participant's account with respect to deferred Director RSUs shall be converted, on the anniversary of the date on which the Director
RSUs originally vested and on each anniversary thereof, as appropriate, until the Director RSUs are settled, into additional whole and/or fractional Director RSUs, based on the Fair Market Value of
the Class B Common Stock on the respective dates. Such additional Director RSUs shall be deferred subject to the same terms and conditions as the Directors RSUs to which the Dividend
Equivalents originally related. 

ARTICLE IV

EFFECT OF CERTAIN CORPORATE CHANGES  

        In the event of any merger, consolidation, stock-split, dividend (other than a regular cash dividend), distribution, combination, recapitalization,
reclassification, reorganization, split-off or spin-off that changes the character or amount of the shares of Class B Common Stock or any other changes in the corporate
structure, equity securities or capital structure of the Company, the Board shall make such proportionate adjustments to (i) the number and kind of securities subject to any outstanding Awards,
(ii) the number and kind of securities subject to the Annual RSU Grants referred to in Section 2.1, and (iii) the maximum number and kind of securities available for issuance
under the Plan referred to in Section 1.5, in each case, as it deems appropriate. The Board may, in its sole discretion, also make such other adjustments as it deems appropriate in order to
preserve, but not increase, the benefits or potential benefits intended to be made available hereunder upon the occurrence of any of the foregoing events. The Board's determination as to what, if any,
adjustments shall be made shall be final and binding on the Company and all Participants. Adjustments under this Article shall be conducted in a manner consistent with any adjustments under the Stock
Option Plan. 

ARTICLE V

SUBSTITUTE AWARDS  

        Notwithstanding any terms or conditions of the Plan to the contrary, the Committee may provide for Substitute Awards under the Plan upon assumption of, or in
substitution for, outstanding awards 

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previously
granted to a director by a company or other entity all or a portion of the assets or equity of which is acquired by the Company, with which the Company mergers or otherwise combines or from
which the Company is spun-off or otherwise separated. Without limiting the generality of the preceding sentence, Substitute Awards include Director RSUs granted in connection with the
Separation in substitution for awards of the former Viacom Inc. (renamed CBS Corporation) granted to directors prior to the Separation Date. Notwithstanding any terms or conditions of the Plan
to the contrary, Substitute Awards may have substantially the same terms and conditions, including without limitation provisions relating to vesting, expiration, payment, forfeiture, and the
consequences of termination of employment and changes in control, as the awards that they replace. 

ARTICLE VI

MISCELLANEOUS  

Section 6.1    No Right to Re-election.  

        Nothing in the Plan shall be deemed to create any obligation on the part of the Board to nominate any of its members for re-election by the Company's
stockholders, nor confer upon any Participant the right to remain a member of the Board for any period of time, or at any particular rate of compensation. 

Section 6.2    Restriction on Transfer.  

        The rights of a Participant with respect to any Awards under the Plan shall not be transferable by the Participant to whom such Awards are granted, except
(i) by will or the laws of descent and distribution, (ii) upon prior notice to the Company, for transfers to members of the Participant's immediate family or trusts whose beneficiaries
are members of the Participant's immediate family, provided, however, that such transfer is being made
for estate and/or tax planning purposes without consideration being received therefor, (iii) upon prior notice to the Company, for transfers to a former spouse incident to a divorce or
(iv) for such other transfers as the Board may approve, subject to any conditions and limitations that it may, in its sole discretion, impose. 

Section 6.3    Stockholder Rights.  

        No grant of an Award under the Plan shall entitle a Participant, a Participant's estate or a permitted transferee to any rights of a holder of shares of
Class B Common Stock, except upon the delivery of share certificates to a Participant, the Participant's estate or the permitted transferee upon settlement of an Award. 

Section 6.4    No Restriction on Right of Company to Effect Corporate Changes.  

        The Plan shall not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations,
reorganizations or other changes in the Company's capital structure or its business, or any merger or consolidation of the Company, or any issue of stock or of options, warrants or rights to purchase
stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the shares of Class B Common Stock or the rights thereof or which are convertible into
or exchangeable for shares of Class B Common Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other
corporate act or proceeding, whether of a similar character or otherwise. 

Section 6.5    Headings.  

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The
headings of articles and sections herein are included solely for convenience of reference and shall not affect the meaning of any of the provisions of the Plan. 

Section 6.6    Governing Law.  

        The Plan and all rights hereunder shall be construed in accordance with and governed by the laws of the State of Delaware. 

ARTICLE VII

AMENDMENT AND TERMINATION  

        The Board may at any time and from time to time alter, amend, suspend or terminate the Plan in whole or in part, including, without limitation, amend the
provisions for determining the amount of Director RSUs to be issued to an Outside Director, provided, however, that any amendment which under the
requirements of applicable law or under the rules of the New York Stock Exchange or other principal stock exchange on which the shares of Class B Common Stock are then listed must be approved
by the stockholders of the Company shall not be effective unless and until such stockholder approval has been obtained in compliance with such law or rule; and no alteration, amendment, suspension or
termination of the Plan that would adversely affect a Participant's rights under the Plan with respect to any Award made prior to such action shall be effective as to such Participant unless he or she
consents thereto, provided, however, that no such consent shall be required if the Board determines in
its sole discretion that any such alteration, amendment, suspension or termination is necessary or advisable to comply with any law, regulation, ruling, judicial decision or accounting standards or to
ensure that Director RSUs or Dividend Equivalents are not subject to federal, state or local income tax prior to settlement. 

ARTICLE VIII

EFFECTIVE DATE  

        The Effective Date of the Plan is [date of the separation] and stockholder approval of the Plan was obtained prior to that date. Unless
earlier terminated in accordance with Article VII above, the Plan shall terminate on the fifth anniversary of the Effective Date, and no further Awards may be granted hereunder after such date. 

6EXHIBIT 10.38  

VIACOM INC.

SENIOR EXECUTIVE

SHORT-TERM INCENTIVE PLAN

ARTICLE I

GENERAL  

Section 1.1    Purpose.  

        The purpose of the Viacom Inc. Senior Executive Short-Term Incentive Plan (the "Plan") is to benefit and advance the interests of
Viacom Inc., a Delaware corporation (the "Company"), by granting annual performance-based awards ("Awards") to reward selected senior executive officers of the Company and its subsidiaries and
divisions for their contributions to the Company's financial success and thereby motivate them to continue to make such contributions in the future. 

Section 1.2    Definitions.  

        As used in the Plan, the following terms shall have the following meanings: 

        (a)   "Award"
shall have the meaning set forth in Section 1.1. 

        (b)   "Board"
shall mean the Board of Directors of the Company. 

        (c)   "Class B
Common Stock" shall mean shares of Class B Common Stock, par value $0.001 per share, of the Company. 

        (d)   "Code"
shall mean the Internal Revenue Code of 1986, as amended, including any successor law thereto, and the rules and regulations promulgated thereunder from time to
time. 

        (e)   "Committee"
shall mean the Compensation Committee of the Board (or such other Committee(s) as may be appointed or designated by the Board) to administer the Plan in
accordance with Section 1.3 of the Plan. The Committee shall consist of at least two (2) individuals, each of whom shall be an "outside director" (or any successor standard thereto)
within the meaning of Section 162(m) of the Code; provided, however, that if any such Committee
member is found not to have met the qualification
requirements of Section 162(m), any actions taken or Awards granted by the Committee shall not be invalidated by such failure to so qualify. 

        (f)    "Company"
shall have the meaning set forth in Section 1.1. 

        (g)   "Earnings
Per Share" shall have the meaning provided by GAAP. 

        (h)   "EBITDA"
shall mean the Company's Operating Income before depreciation, amortization and inter-company eliminations. 

        (i)    "Effective
Date" shall have the meaning set forth in Section 4.11. 

        (j)    "Equity
Plan" means the Viacom Inc. 2006 Long-Term Management Incentive Plan and any successor or similar plan of the Company. 

        (k)   "Exchange
Act" shall mean the Securities Exchange Act of 1934, as amended, including any successor law thereto. 

        (l)    "Fair
Market Value" of a share of Class B Common Stock on a given date shall be, unless otherwise determined by the Committee, the 4:00 p.m. (New York
time) closing price on such date on the New York Stock Exchange or other principal stock exchange on which the Class B Common Stock is then 

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listed,
as reported by The Wall Street Journal (Northeast edition) or any other authoritative source selected by the Company. 

        (m)  "Free
Cash Flow" shall mean the Company's Operating Income before depreciation and amortization, less cash interest, taxes paid, working capital requirements and capital
expenditures. 

        (n)   "GAAP"
shall mean generally accepted accounting principles in the United States. 

        (o)   "Net
Earnings" shall have the meaning provided in GAAP. 

        (p)   "Net
Earnings from Continuing Operations" shall have the meaning provided in GAAP. 

        (q)   "Net
Revenue" shall have the meaning provided by GAAP. 

        (r)   "OIBDA"
shall mean the Company's Operating Income before depreciation and amortization. 

        (s)   "OIBDA
Without Inter-Company Eliminations" shall mean the Company's Operating Income before depreciation, amortization and inter-company eliminations. 

        (t)    "Operating
Income" shall have the meaning provided by GAAP. 

        (u)   "Participant"
shall mean any employee who has met the eligibility requirements set forth in Section 1.4 hereof and whom the Committee designates a participant
under the Plan. 

        (v)   "Performance
Goals" shall mean the performance goals set forth in Section 2.2 from which the Committee shall establish performance targets for a given Performance
Period. 

        (w)  "Performance
Period" shall mean a period of time over which performance is measured as determined by the Committee in its sole discretion. 

        (x)   "Plan"
shall have the meaning set forth in Section 1.1. 

        (y)   "Revenue"
shall have the meaning provided by GAAP. 

        (z)   "Salary"
for any Performance Period shall mean the sum of (i) the annual base salary of the Participant as in effect on the first day of the applicable
Performance Period and (ii) an amount equal to the annual rate of compensation as in effect on the first day of the applicable Performance Period that the Participant is required to defer (if
any) for the applicable Performance Period pursuant to an employment agreement or similar arrangement with the Company. 

        (aa) "Section 162(m)"
shall mean Section 162(m) of the Code. 

        (bb) "Section 409A"
shall mean Section 409A of the Code. 

        (cc) "Subsidiary"
shall mean a corporation (or a partnership or other enterprise) in which the Company owns or controls, directly or indirectly, more than 50% of the
outstanding shares of stock normally entitled to vote for the election of directors (or comparable equity participation and voting power). 

        (dd) "Target
Awards" means the target established by the Committee for each Performance Period based on a multiple (either a fraction or a whole number multiple) of the
Participant's Salary or a specified dollar amount. 

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Section 1.3    Administration of the Plan.  

        The Plan shall be administered by the Committee which shall adopt such rules as it may deem appropriate in order to carry out the purpose of the Plan. All
questions of interpretation, administration and application of the Plan shall be determined by a majority of the members of the Committee then in office, except that the Committee may authorize any
one or more of its members, or any officer of the Company, to execute and deliver documents on behalf of the Committee. The determination of such majority shall be final and binding in all matters
relating to the Plan. The Committee shall have authority to determine the terms and conditions of the Awards granted to eligible persons specified in Section 1.4 below. 

Section 1.4    Eligible Persons.  

        Awards may be granted only to employees of the Company or one of its subsidiaries at the level of Senior Vice President or at a more senior level who are
designated by the Committee as Participants for a given Performance Period. 

ARTICLE II

AWARDS  

Section 2.1    Awards.  

        The Committee may grant Awards to eligible employees with respect to each Performance Period, subject to the terms and conditions set forth in the Plan. 

Section 2.2    Terms of Awards.  

        (a)   The
Committee shall determine in its sole discretion whether any employee of the Company shall have the opportunity to earn incentive compensation under this Plan during
any Performance Period. If the Committee decides to offer such opportunity to one or more employees of the Company, then within the time period permitted or required under Section 162(m) for
amounts payable hereunder to be considered "qualified performance based compensation", the Committee shall (i) establish the Performance Period, (ii) designate each Participant for the
Performance Period, (iii) select from the list of Performance Goals set forth in this Section 2.2, the Performance Goal or Goals to be applicable to the Performance Period,
(iv) establish specific performance targets related to such Performance Goals and (v) establish Target Awards for each Participant. 

        (b)   The
Performance Goals from which the Committee shall establish performance targets shall relate to the achievement of financial goals based on the attainment of
specified levels of one or more of the following: OIBDA, OIBDA Without Intercompany Eliminations, Operating Income, Free Cash Flow, Net Earnings, Net Earnings from Continuing Operations, Earnings Per
Share, Revenue, Net Revenue, operating revenue, total shareholder return, share price, return on equity, return in excess of cost of capital, profit in excess of cost of capital, return on assets,
return on invested capital, net operating profit after tax, operating margin, profit margin or any combination thereof. The Performance Goals may be described in terms of objectives that are related
to the individual Participant or objectives that are Company-wide or related to a Subsidiary, division, department, region, function or business unit and may be measured on an absolute or
cumulative basis or on the basis of percentage of improvement over time, and may be measured in terms of Company performance (or performance of the applicable Subsidiary, division, department, region,
function or business unit) or measured in terms of performance relative to selected peer companies or a market index. 

Section 2.3    Limitation on Awards.  

        The aggregate amount of all Awards granted under the Plan to any Participant for any Performance Period shall not exceed the amount determined by multiplying such
Participant's Salary by a factor of eight (8), but in no event shall such amount exceed $51.2 million. 

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Section 2.4    Determination of Award.  

        The Committee shall, promptly after the date on which the necessary financial or other information for a particular Performance Period becomes available, certify
whether the performance targets have been achieved in the manner required by Section 162(m). If the performance targets have been achieved, the Awards for such Performance Period shall have
been earned except that the Committee may, in its sole discretion, reduce the amount of any Award to reflect the Committee's assessment of the Participant's individual performance or for any other
reason. 

Section 2.5    Payment of Award.  

        Subject to Section 2.6, such Awards may be paid, in whole or in part, in cash, in the form of grants of stock-based awards issued under the Equity Plan, or
in any other form prescribed by the Committee, and may be subject to such additional restrictions as the Committee, in its sole discretion, may impose. Such Awards shall be paid as promptly as
practicable after the Committee certifies the applicable performance targets have been achieved (and in any event by the 15th day of the third calendar month following the end of the
calendar year in which the last day of the applicable Performance Period occurs). If the Committee determines that an Award shall be paid in the form of a stock-based award issued under the Equity
Plan, then for purposes of determining the number of shares of Class B Common Stock subject to an Award, the Class B Common Stock shall be valued based on its Fair Market Value on the
date such stock-based awards are granted. Where Awards are paid in property other than cash and Class B Common Stock, the value of such Awards, for purposes of the Plan, shall be determined by
reference to the fair market value of the property on the date the Committee grants the award of such property. Notwithstanding anything in this Section 2.5 to the contrary, the Committee may
establish procedures pursuant to which the payment of any Award may be deferred. 

Section 2.6    Employment Requirement.  

        To be eligible to receive an Award, the Participant must have remained in the continuous employ of the Company or a Subsidiary during the Performance Period
applicable to the Participant. If the Company or any Subsidiary terminates a Participant's employment other than for "cause", a Participant terminates his employment for "good reason" or a Participant
becomes "permanently disabled" (in each case, as determined by the Committee in its sole discretion) or a Participant dies during a Performance Period, such Participant or his estate shall receive,
unless his or her employment agreement provides otherwise, a pro rata portion of the amount of any Award for such Performance Period except that the Committee may, in its sole discretion, reduce the
amount of such Award to reflect the Committee's assessment of such Participant's individual performance prior to the termination of such participant's employment, such Participant's becoming
permanently disabled or such Participant's death, as the case may be, or for any other reason. 

ARTICLE III

ADJUSTMENT OF AWARDS  

        In the event that, during a Performance Period, any recapitalization, reorganization, merger, acquisition, divestiture, consolidation, spin-off,
combination, liquidation, dissolution, sale of assets, or other similar corporate transaction or event or any other extraordinary event occurs, or any other event or circumstance occurs which has the
effect, as determined by the Committee in its sole and absolute discretion, of distorting the applicable Performance Goals, including, without limitation, changes in accounting standards, the
Committee may adjust or modify, as determined by the Committee in its sole and absolute discretion, the calculation of the applicable performance targets based on the Performance Goals, to the extent
necessary to prevent reduction or enlargement of Participants' Awards under the Plan for such Performance Period attributable to such transaction, circumstance or event. Such adjustments shall be
conclusive and binding for all purposes. 

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ARTICLE IV

MISCELLANEOUS  

Section 4.1    No Rights to Awards or Continued Employment.  

        No employee shall have any claim or right to receive Awards under the Plan. Neither the Plan nor any action taken hereunder shall be construed as giving any
employee any right to be retained by the Company or any of its subsidiaries. 

Section 4.2    Restriction on Transfer.  

        The rights of a Participant to receive Awards under the Plan shall not be transferable by the Participant to whom such Award is granted, otherwise than by will or
the laws of descent and distribution. 

Section 4.3    Withholding.  

        The Company, or a subsidiary thereof, as appropriate, shall have the right to deduct from all payments made under the Plan to a Participant or to a Participant's
beneficiary or beneficiaries any federal, state or local taxes required by law to be withheld with respect to such payments. 

Section 4.4    No Restriction on Right of Company to Effect Changes.  

        The Plan shall not affect in any way the right or power of the Company or its stockholders or a Subsidiary to make or authorize any recapitalization,
reorganization, merger, acquisition, divestiture, consolidation, spin-off, combination, liquidation, dissolution, sale of assets, or other similar corporate transaction or event involving
the Company or a Subsidiary thereof or any other event or series of events, whether of a similar character or otherwise, whether or not such action would have an adverse effect on any Awards made
under the Plan. No Participant, beneficiary or other person shall have any claim against the Company or any Subsidiary as a result of any such action. 

Section 4.5    Source of Payments.  

        The Company shall not have any obligation to establish any separate fund or trust or other segregation of assets to provide for payments under the Plan. To the
extent any person acquires any rights to receive payments hereunder from the Company, such rights shall be no greater than those of an unsecured creditor. 

Section 4.6    Section 409A.  

        If any provision of the Plan or any Award contravenes any regulations or Treasury guidance promulgated under Section 409A or could cause a Participant to
be subject to the interest and penalties under Section 409A, such provision of the Plan or any Award shall be modified to maintain, to the maximum extent practicable, the original intent of the
applicable provision without violating the provisions of Section 409A. Moreover, any discretionary authority that the Board or the Committee may have pursuant to the Plan shall not be
applicable to an Award that is subject to Section 409A to the extent such discretionary authority will contravene Section 409A. 

Section 4.7    Amendment and Termination.  

        The Board may at any time and from time to time alter, amend, suspend or terminate the Plan in whole or in part. No such alteration, amendment, suspension or
termination of the Plan may, without the consent of the Participant to whom an Award has been made, adversely affect the rights of such Participant in such Award;  provided, however, that no such consent shall be required if the Committee determines in its sole
discretion that any such alteration, amendment, suspension or termination is necessary or prudent (i) to comply with, or take into account changes in, applicable tax laws, securities laws,
accounting rules 

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and
other applicable laws, rules and regulations or (ii) to ensure that a Participant is not subject to interest and penalties under Section 409A with respect to any Award. 

Section 4.8    Governmental Regulations.  

        The Plan, and all Awards hereunder, shall be subject to all applicable rules and regulations of governmental or other authorities. 

Section 4.9    Headings.  

        The headings of sections and subsections herein are included solely for convenience of reference and shall not affect the meaning of any of the provisions of the
Plan. 

Section 4.10    Governing Law.  

        The Plan and all rights and Awards hereunder shall be construed in accordance with and governed by the laws of the State of Delaware. 

Section 4.11    Effective Date.  

        The Plan became effective as of [date of the separation]; provided,  however, that it shall
be a condition to the effectiveness of the Plan that the stockholders of the Company approve the Plan at the first Annual Meeting
of Stockholders held more than 12 months after the effective date of the Company's registration statement under the Securities Exchange Act of 1934, as amended, relating to the Class B
Common Stock. Such approval shall meet the requirements of Section 162(m) of the Code and the regulations thereunder. If such approval is not obtained, then the Plan shall not be effective. 

6

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