Document:

Exhibit102-TermsandConditionsforRSUstoDirectors

Exhibit 10.2

RSU Certificate

Granted under the OUTFRONT Media Inc. Omnibus Stock Incentive Plan  
(As Amended and Restated as of February 19, 2015)

NAME:                    
NUMBER OF 
RESTRICTED
SHARE UNITS:                     
DATE OF GRANT:                    

This certifies that OUTFRONT Media Inc., a Maryland corporation (the “Company”), has granted to the Director named above (the “Director”), on the date (the “Date of Grant”) indicated above, the number of restricted share units (the “RSUs”) indicated above, under the Company’s Omnibus Stock Incentive Plan (As Amended and Restated as of February 19, 2015) (the “Plan”), all on the Terms and Conditions attached hereto.

____________________________________
            
            
            

If there is a discrepancy between the OUTFRONT Media Inc. Stock Plans webpage and the official records maintained by the 
office of the Executive Vice President, Chief Human Resources Officer, the official records will prevail.

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OUTFRONT MEDIA INC.
Terms and Conditions to the Restricted Share Unit Certificate

Granted under the OUTFRONT Media Inc. Omnibus Stock Incentive Plan  
(As Amended and Restated as of February 19, 2015)

1.    Grant of Restricted Share Units.  On [  ] (the “Date of Grant”), OUTFRONT Media Inc., a Maryland corporation (the “Company”), hereby granted to the Director named on the attached RSU certificate (the “Director”), a grant of [     ] Restricted Share Units (the “RSUs”) under the OUTFRONT Media Inc. Omnibus Stock Incentive Plan (As Amended and Restated as of February 19, 2015) (the “Plan”).  The RSUs have been awarded to the Director subject to the terms and conditions contained in (A) the certificate for the [        ] grant of RSUs attached hereto (the “RSU Certificate”), (B) the terms and conditions contained herein and (C) the Plan, the terms of which are hereby incorporated by reference (the items listed in (A), (B) and (C), collectively, the “Terms and Conditions”).  A copy of the Plan has been or will be made available to the Director on-line at Morgan Stanley’s website (or, if applicable, the website of its successor as service provider to the Company’s equity compensation plans).  Capitalized terms that are not otherwise defined herein have the meanings assigned to them in the RSU Certificate or the Plan.

2.    General. The number of RSUs granted to the Director was determined by dividing $[      ] by the Fair Market Value of a share of the Company’s Common Stock on the Date of Grant (or, if the Date of Grant is not a trading day, then on the last trading day immediately preceding the Date of Grant), with each fractional RSU rounded to the nearest whole RSU.    

3.    Vesting; Termination of Service.  

		
	(a)
	Vesting.  Subject to Section 3(b), the RSUs shall vest on the first anniversary of the Date of Grant, provided that the Director is continuously providing Services from the Date of Grant through such anniversary.

		
	(b)
	Accelerated Vesting.  In the event of a Change in Control prior to the first anniversary of the Date of Grant, provided that the Director is continuously providing Services from the Date of Grant through the closing of the Change in Control (or immediately prior thereto), the RSUs shall vest as of, or immediately prior to, the closing of the Change in Control (and such vested RSUs shall be settled within ten (10) business days after the date on which the Change in Control is consummated in accordance with Section 4 below).

		
	(c)
	Termination of Service.  Except as set forth in Section 3(b), if the Director’s Service should terminate for any reason, the Director shall forfeit all unvested RSUs as of the date of such event.

4.    Settlement of RSUs.  On the date on which the RSUs vest, the RSUs will be payable in shares of Common Stock and will be evidenced in such manner as the Board in its discretion 

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shall deem appropriate, including, without limitation, book-entry registration, unless determined otherwise.  The Company will settle vested RSUs by delivering the corresponding number of shares of Common Stock to the Director’s equity compensation account maintained with Morgan Stanley (or its successor as service provider to the Company’s equity compensation plans).  Following settlement, which will be within ten (10) business days after the date on which the RSUs vest, the Director may direct Morgan Stanley (or its successor) to sell some or all of such shares, may leave such shares in such equity compensation account or may transfer them to an account that the Director maintains with a bank or broker, subject to any applicable trading restrictions.

5.    Dividend Equivalents.  Dividend Equivalents shall accrue on the RSUs until the RSUs are vested and settled.  Dividend Equivalents will be subject to the same vesting and forfeiture conditions as the underlying RSUs on which the Dividend Equivalents were accrued.  The Company shall maintain a bookkeeping record that credits the dollar amount of the Dividend Equivalents to the Director’s account on the date that it pays such regular cash dividends on shares of Common Stock.  At the time when the RSUs underlying Dividend Equivalents vest, accrued Dividend Equivalents that have been credited to the Director’s account with respect to such corresponding RSUs shall be settled in shares of Common Stock determined by dividing (i) the aggregate amount credited in respect of such Dividend Equivalents by (ii) the Fair Market Value of a share of the Common Stock on the vesting date in a manner consistent with Section 4; provided, however, that if a dividend payment date occurs between the time during which RSUs have vested but not yet been settled, the Dividend Equivalents payable with respect to such vested RSUs shall be paid in cash as soon as practicable following the dividend payment date, but in no event later than March 15th of the calendar year following the calendar year in which the RSUs vest.  Any fractional shares shall be paid in cash.  Payment of Dividend Equivalents that have been credited to the Director’s account will not be made with respect to any RSUs that do not vest and are cancelled.  Dividend Equivalents will not be credited with any interest or other return between the date they accrue and the date they are paid to the Director.
6.    Effect of Certain Corporate Changes.  The RSUs shall be subject to the adjustment provisions set forth in Article VIII of the Plan.

7.    Miscellaneous.

(a)    Stockholder Rights.  The grant of RSUs shall not entitle the Director, the Director’s estate or any permitted transferee or beneficiary to any rights of a holder of shares of Common Stock, prior to the time that the Director, the Director’s estate or any permitted transferee or beneficiary is registered on the books and records of the Company as a stockholder with respect to the shares of Common Stock underlying the RSUs (or, where the shares are permitted to be held in “street” name by a broker designated by the Director, the Director’s estate or permitted transferee or beneficiary, until such broker has been so registered). 

(b)    No Right to Re-election.  Nothing in the Terms and Conditions 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 the Director the right to remain a member of the Board for any period of time, or at any particular rate of compensation.

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(c)    Section 409A of the Code.  The intent of the Company is that the payment of RSUs under these Terms and Conditions either comply with, or satisfy any exemption from, Section 409A of the Code and, accordingly, to the maximum extent permitted, these Terms and Conditions shall be interpreted to be in compliance therewith (or be exempt therefrom).  In no event shall the Company or any of its Subsidiaries be liable for any tax, interest or penalties that may be imposed on the Director under Section 409A of the Code.

(d)    Governing Law.  These Terms and Conditions and all rights hereunder shall be construed in accordance with and governed by the laws of the State of Maryland.  For purposes of litigating any dispute that arises under this RSU grant or these Terms and Conditions, the parties hereby submit and consent to the jurisdiction of the State of New York, agree that such litigation shall be conducted in the courts of New York, New York, or the federal courts for the United States for the Southern District of New York, where this grant is made and/or to be performed.

(e)    Interpretation.  In the event of any conflict between the provisions of the RSU Certificate (including the definitions set forth herein) and those of the Plan, the provisions of the Plan will control.  

*****************

The Director will be deemed to have agreed to these Terms and Conditions, unless he or she provides the Company with a written notice of rejection within 30 days of receipt of these Terms and Conditions.  Any such notice may be addressed to the Company at the following email address:  OUTFRONTMediaStockAdministrator@OUTFRONTmedia.com.

4HLX06.11.2015-EX10.1

AMENDMENT NO. 1
To the Contract dated 
11 September 2013 made between 
Jurong Shipyard Pte Ltd and Helix Q7000 Vessel Holdings S.a.r.l 
 
This AMENDMENT NO. 1 (“Amendment No. 1”) is made this 8th day of June 2015
 
BY and BETWEEN:-

		
	(1)
	JURONG SHIPYARD PTE. LTD., a corporation organised under the laws of Singapore, having its registered office at 29 Tanjong Kling Road, Singapore 628054 (the “Builder”);

 
And
 
		
	(2)
	HELIX Q7000 VESSEL HOLDINGS S.a.r.l.(“the Owner”)

 
collectively called “the Parties”, and “Party” shall refer to either one of them
 
WHEREAS
 
		
	A.
	The Builder and the Owner entered into a contract (“Contract”) dated 11th September 2013 for the construct and deliver to Owner one (1) unit of Well Intervention Semisubmersible Unit (“Vessel”).

 
		
	B.
	The Owner has requested and the Builder has agreed to a deferment the Delivery of the Vessel under the Contract.

 
NOW therefore the Parties agree as follows:
 
		
	1.
	The Contract will be amended on the terms and in the manner set out below.  In the event of conflict between this Amendment No. 1 and the Contract the terms of this Amendment No. 1 shall prevail.

 
		
	2.
	This Amendment No. 1 shall be supplemental to and shall form an integral part of the Contract. Nothing in this Amendment No. 1 shall be construed as constituting a release or discharge of the Parties from their obligations and liabilities under the Contract and save as amended by this Amendment No. 1, the Contract shall continue in full force and effect and where necessary shall be read and construed as if the terms of this Amendment No. 1 were inserted thereon by way of addition or substitution (as the case may be).  All terms used in this Amendment No. 1 shall have the same meaning as terms used in the Contract.

 
		
	3.
	The Delivery of the Vessel shall be deferred and the revised Delivery Date shall be 30 July 2017.  Parties shall, following execution of this Amendment No. 1, discuss and agree on the necessary changes to the Programme (i.e. Paragraph 4.1 of the Contract), so as to effect the revised Delivery Date. To the extent the Parties have yet to agree or have not agreed on necessary changes to the Programme, all references to the Programme in the Contract shall operate on the basis that (1) KD7 (Commencement of Commissioning Process) is revised to 31 October 2016 and (2) KD 11 (Delivery of the Vessel) is revised to 30 July 2017, and all other milestones and Key Dates are inoperative.

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	4.
	The payment of the Contract Price under the Contract shall be revised as follows:

 
	
		
	Percentage of Contract Price
	Payment

	20%
	Upon execution of Contract

	20%
	25 June 2016

	60%
	Delivery

 
		
	4.1
	Clause 22.2 of the Contract shall be deleted in its entirety and replaced with the following:

 
“22.2    Upon execution of this Contract, Owner shall pay 20% of the Contract Price as indicated in the payment schedule in Section 3 – Schedule of Prices.  On 25 June 2016, Owner shall pay a further 20% of the Contract Price. On or before Delivery, Owner shall pay Builder that portion of Contract Price indicated in the payment schedule contained within Section 3 - Schedule of Prices with respect to Delivery.  In respect of Variation Orders, each invoice shall describe the Work performed completed in sufficient detail, with accompanying documentation substantiating the Work performed for which such invoice is issued.”
 
		
	4.2
	Paragraph 3.6 of Section 3 – Schedule of Prices of the Contract shall be deleted in its entirety and replaced with the following:

 
“3.6    INSTALMENTS
 
The Owners shall pay the Contract Price which shall become due and payable to the Builder in instalments as follows:-
 
		
	3.6.1
	First Instalment:  The sum of United States Dollars Sixty-Nine Million and Two Hundred Thousand (US$69,200,000) equivalent to 20% of the Contract Price shall be paid within 3 banking days from the date of this Contract.

 
		
	3.6.2
	Second Instalment: The sum of United States Dollars Sixty-Nine Million and Two Hundred Thousand (US$69,200,000) equivalent to 20% of the Contract Price shall be paid on or before 25 June 2016.

 
		
	3.6.3
	Final Instalment: The sum of United States Dollars Two Hundred and Seven Million and Six Hundred Thousand (US$207,600,000), equivalent to 60% of the Contract Price shall be paid upon Delivery of the Vessel.

 
All payments of instalments to be made by the OWNERS shall be made promptly upon the presentation of the Builder’s invoices and in full and without any set off, abatement, counterclaim, withholding or deduction.
 
Builder acknowledges that as of the date of Amendment No. 1, Owners have paid the First Instalment in full.
 
Payment for Variation Orders shall be negotiated and agreed through a Change Order Process.”
 
		
	5.
	The Owner shall, in addition to its payment obligations under Section 3.6 of the Contract, (a) make payment of compensation for the Builder’s prolongation costs associated with the changes to the Programme outlined above, composed of the Builder’s shipyard related prolongation costs (the “Builder’s Prolongation Costs”) and the costs incurred 

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by Builder’s various vendors and subcontractors (the “Vendors’ Prolongation Costs”) (collectively, the “Prolongation Costs”), provided that Owner’s obligation to compensate Builder for Vendors’ Prolongation Costs shall not exceed USD 4,000,000 and (b) pay Builder a delay fee (the “Delay Fee”), all in accordance with the table below:
 
	
			
	Description
	Amount
	Payment Date / Milestones

	Builder’s Prolongation Costs
	US$ 2 million
	1st Payment (USD 1,000,000):
1.    Within 30 days of execution of this Amendment No. 1; or
2.    Owner’s receipt of Builder’s invoice for the same
Whichever is the later

Final payment(USD 1,000,000): 
On or before Delivery of the Vessel

	Vendors’ Prolongation Costs
	The lesser of actual documented
costs, and US$ 4 million
	1st Payment (USD 2,000,000):
1.    Within 30 days of execution of this Amendment No. 1; or
2.    Owner’s receipt of Builder’s invoice for the same. 
Whichever is the later

Final Payment: Vendor’s Prolongation Costs less the 1st Payment, provided that if the 1st Payment exceeds total actual Vendors’ Prolongation Costs, the difference shall be deducted from the Final Instalment under Clause 3.6.3, on or before Delivery of the Vessel.

	Delay Fee
	US$8.5 million
	1st Payment (50%):
1.    Within 30 days of execution of this Amendment No. 1; or
2.    Owner’s receipt of Builder’s invoice for the same
Whichever is the later

Final payment (50%):
On or before Delivery of the Vessel

 
		
	6.
	In the event that the aforesaid amounts in respect of Prolongation Costs and Delay Fee are not paid in accordance with the timeline set out in Clause 5 above, this Amendment No. 1 shall be null and void and of no effect. Builder agrees that Owner’s payment of the aforesaid Prolongation Costs and Delay Fee shall be the Builder’s sole remedy with respect to extra costs and expenses relating to the change in the Programme contemplated hereby and Builder shall not be entitled to seek any Variation Orders arising out of changes to the Programme resulting from this Amendment No. 1.

 
		
	7.
	Save as aforesaid, all terms and conditions of the Contract shall remain unchanged and be in full force and effect.

 

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	8.
	Each Party agrees that upon the other Party’s written request, the Party shall obtain the written acknowledgment of respective parent companies that their Parent Company Guarantees both dated 11 September 2013 shall not be released or discharged in any way otherwise than in accordance with the terms of the respective parent company guarantees.

 
		
	9.
	This Amendment No. 1 shall be governed by English Law.

 
		
	10.
	This Amendment No. 1 may be executed in counterparts.

 
		
	11.
	This Amendment No. 1 contains the entirety of the Parties’ agreement with respect to the matters set forth herein and may not be altered or amended by prior evidence, whether oral or written.

	
		
	For and on behalf of
	}

	Helix Q7000 Vessel Holdings S.a.r.l.
	}

	/s/ Anthony Tripodo
	}

	Name: Anthony Tripodo
	}

	Title:    Class A Manager
	}

	
		
	For and on behalf of
	}

	Helix Q7000 Vessel Holdings S.a.r.l.
	}

	/s/ Ingrid Cernicchi
	}

	Name: Ingrid Cernicchi
	}

	Title:    Class B Manager
	}

	
		
	For and on behalf of
	}

	Jurong Shipyard Pte Ltd
	}

	/s/ William Gu Weiguang
	}

	Name: William Gu Weiguang
	}

	Title:    General Manager, Offshore
	}

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