Document:

EX-10.1

 Exhibit 10.1 

SEPARATION AGREEMENT 

This Separation Agreement (the “Agreement”) is made by and between Maryann A. Waryjas (the “Executive”) and Great Lakes
Dredge & Dock Corporation, a Delaware corporation (the “Company”), pursuant to the Employment Agreement between the Executive and the Company dated September 12, 2014 (the “Employment Agreement”), to fully settle
and resolve any and all issues and disputes arising out of the Executive’s employment with and separation from the Company. 
 WHEREAS,
the Company and the Executive have mutually agreed to have the Executive resign from her position with the Company effective November 10, 2015 (the “Separation Date”), and that she will be entitled to receive the compensation and
benefits payable pursuant to Section 3.3 of the Employment Agreement upon her resignation; and 
 WHEREAS, the Company and the
Executive now wish to enter into a “separation agreement,” as contemplated in Section 3.6 of the Employment Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants and promises herein, the receipt and sufficiency of which is hereby acknowledged by
each party, the Executive and the Company agree as follows: 
 1. Termination of Employment. The Executive agrees that her employment
with the Company shall terminate on the Separation Date, and further agrees her involvement with the Company in any of the capacities listed in Sections 3.9 (a), (b) or (c) of the Employment Agreement shall also terminate on the Separation
Date. The Executive shall be permitted to exhaust the full balance of her ten (10) days of accrued and unused vacation beginning on October 28, 2015 and ending on the Separation Date. 

2. Unconditional Benefits. The Executive acknowledges that the Company will provide her with certain Unconditional Assistance Benefits
whether or not she chooses to sign the Agreement. Such benefits are described in greater detail in Appendix A, which is attached and incorporated herein. 

3. Consideration. In consideration for the Executive’s execution of this Agreement and its attached Release (defined below), and
provided the Executive complies with her obligations under this Agreement and does not revoke her acceptance of the Release, the Company will provide the Executive with certain Conditional Assistance Benefits, which are described in greater detail
in Appendix A, and which the Executive acknowledges represent full consideration for entering into the Agreement. 
 4.
Benefits. Except as otherwise specifically provided in the Agreement, including Appendix A, the Executive’s eligibility to participate in the Company’s employee benefit plans and programs (including the Company’s
life insurance and short-term disability benefit programs) shall end on the Separation Date. 
 5. General Release and Waiver of
Claims. As part of the Executive’s consideration for the Conditional Assistance Benefits described in Appendix A, the Executive agrees to execute and comply with the General Release and Waiver of Claims attached as
Appendix B to the Agreement (the “Release”). 

 6. Confidentiality and Restrictive Covenants. The Executive acknowledges and agrees that
she remains bound by any and all post-employment restrictions set forth in the Employment Agreement, including but not limited to those contained within Article IV of the Employment Agreement. Notwithstanding any provision in the Employment
Agreement or this Agreement to the contrary, nothing shall prohibit the Executive from reporting possible violations of federal law or regulation to any governmental agency or entity or making other disclosures that are protected under the
whistleblower provisions of federal law or regulation. 
 7. Cooperation and Assistance. The Executive acknowledges and agrees that,
as a condition to receiving the benefits described herein, the Executive shall provide assistance to the Company as described in Section 5.2 of the Employment Agreement. 

8. Representation of Disclosure. The Executive represents and warrants that she has not withheld any information from the Company
through its directors, officers, or CEO that may give rise to allegations threatening material liability of the Company or any of its subsidiaries or affiliates. The Executive acknowledges and agrees that this representation is a material term of
the Agreement and any breach of this representation shall relieve the Company of any continuing obligation to provide the Conditional Assistance Benefits described in Appendix A of the Agreement and may require the Executive to repay to
the Company such Conditional Assistance Benefits she already received. 
 9. No Admission. The Agreement is not an admission by any
of the Released Parties (as defined in Appendix B) or by the Executive of any wrongdoing or liability, or that any action (or failure to take action) undertaken by any of the Released Parties or by the Executive was wrongful; unlawful;
in violation of any local, state or federal law, statute or regulation; or capable of inflicting any damages or injury on any of the Released Parties or the Executive. The Company and the Executive each specifically deny any such wrongdoing,
unlawfulness, violation, or damages. 
 10. Mutual Non-Disparagement. The Executive agrees, on behalf of herself and her agents,
representatives, attorneys, assigns, heirs, executors, and administrators, not to make any oral or written statement to any third party that disparages the Company or its officers and directors; provided that the provisions of this Paragraph
10 shall not apply to testimony as a witness, compliance with other legal obligations, or assertion of or defense against any claim of breach of the Agreement, and shall not require the Executive to make false statements or disclosures. The Company
agrees that its officers and directors will not make any oral or written statement to any third party that disparages the Executive or her job performance; provided that the provisions of this Paragraph 10 shall not apply to testimony as a
witness, compliance with other legal obligations, or assertion of or defense against any claim of breach of the Agreement, and shall not require the Company’s officers or directors to make false statements or disclosures. 

11. Entire Agreement. The Agreement (including the Appendices hereto) contains the entire agreement and understanding between the
Executive and the Company, and supersedes any and all prior agreements (including, but not limited to, the Employment Agreement), discussions, negotiations, understandings, and proposals of the parties with respect to any of the matters described
herein and therein. The Agreement and no other document or understanding between the parties shall constitute the “separation agreement” contemplated in Section 3.6 of the Employment Agreement. The terms of the Agreement cannot be
changed except in a later document signed by the Executive and an authorized officer of the Company. 

  
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 12. Governing Law; Venue. The Agreement shall be governed by the laws of the State of
Illinois, without giving effect to any principles regarding conflicts of laws. The parties will bring and pursue any legal or equitable proceeding relating to or arising under the Agreement only in the courts of Cook County, Illinois or the United
States District Court for the Northern District of Illinois. Each party consents to and agrees never to challenge the personal jurisdiction or venue of those courts, and agrees that they are a fair and convenient place to conduct any such
proceeding. 
 13. Partial Invalidity. If any part of this Agreement is held to be unenforceable, invalid or void, then the balance
of this Agreement shall nonetheless remain in full force and effect to the extent permitted by law. 
 14. No Presumption. The
Agreement shall be interpreted and construed as if all of its provisions were drafted jointly by the parties, and no party is entitled to the benefit of any rule of construction with respect to the interpretation of any term, condition or provision
in favor of or against any drafter of the Agreement. The Agreement shall be interpreted and construed in accordance with the plain meaning of its terms and not strictly for or against either party. 

15. Headings. The headings in the Agreement are for the convenience of the parties and shall not affect its meaning or interpretation.

 16. Notice and Other Communications. With the exception of the acceptance of this Agreement, its attached Release
(Appendix B), and the revocation of ADEA (defined below) claims contained within it, which shall be governed by Paragraph 20, below, as applicable, all notices given under the Agreement shall be in writing and shall be delivered by mail,
hand, facsimile, e-mail (in .pdf format), or by a nationally known, reputable overnight delivery service addressed as follows: 
 If to
the Executive: 
 Maryann A. Waryjas 

At the address and e-mail address previously provided in writing to the 

Company 
 If
to the Company: 
 Great Lakes Dredge & Dock Corporation 

2122 York Road 

Oak Brook, IL 60523 

Attn: Chief Executive Officer 

Fax: (630) 574-3007 

jwberger@gldd.com 

  
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 With a copy to: 

Godfrey & Kahn, S.C. 

One East Main Street, Suite 500 

Madison, WI 53703 

Attn: Eric C. Wilson 

Fax: (608) 257-0609 

ewilson@gklaw.com 

or to such other address as either party will have furnished to the other in writing in accordance herewith. Notice shall be considered
effective when actually received by the addressee. 
 17. Taxes. The Company may withhold from any amount payable under the Agreement
such federal, state or local taxes as must be withheld pursuant to any applicable law or regulation. 
 18. No Waiver. Either
party’s failure to insist upon strict compliance with any part of the Agreement, or its failure to assert any right it may have hereunder, will not be considered a waiver of that or any other part of or right under the Agreement unless the
waiver is in writing and signed by the party that is waiving its rights. 
 19. Binding. The terms of the Agreement shall be binding
upon and inure to the benefit of the heirs, estates, predecessors, affiliates, assigns, attorneys, officers, directors, employees, agents, and representatives of the parties. In the event that any amounts under the Agreement are due following the
Executive’s death, such amounts will be payable to a trust or trusts designated by the Executive in writing to the Company, so long as (i) such trust information is provided by Executive to the Company in advance of Executive’s death
and (ii) such trust or trusts is/are in existence at the time payments are to be made. Otherwise, payment shall be made to the Executive’s estate. In each case, payments shall be made subject to applicable law, deductions and
withholdings and the terms and conditions of applicable employee benefit plans. 
 20. Acceptance and Revocation Procedures.  

a. Acceptance of Agreement: The Executive acknowledges and agrees that she may agree to the terms of the Agreement by
signing and dating it (but not the Release, which shall be governed by Paragraph 20(b), below) and returning the signed and dated Agreement via mail, email (in .pdf format), hand delivery, or overnight delivery, so that it is received by Eric
J. Wilson, Godfrey & Kahn, S.C., One East Main Street, Suite 500, Madison, WI 53703, E-Mail: ewilson@gklaw.com, on or before 5:00 p.m. Central Time on Wednesday, October 14, 2015. 

b. Acceptance of Release: The Executive acknowledges and agrees that she may agree to the terms of the Release by
signing and dating it no earlier than Wednesday, November 11, 2015, and returning the signed and dated Agreement via mail, email (in .pdf format), hand delivery, or overnight delivery, so that it is received by Eric J. Wilson,
Godfrey & Kahn, S.C., One East Main Street, Suite 500, Madison, WI 53703, E-Mail: ewilson@gklaw.com, on or before 5:00 p.m. Central Time no later than Tuesday, November 17, 2015. 

  
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 c. By executing the Agreement and Release, the Executive acknowledges and agrees
that: 
 d. The Executive has carefully read all parts of the Agreement (including the Release) and fully understands the
meaning of the terms and conditions contained herein; 
 e. The Company has advised the Executive, and is hereby advising her
in writing, to consult with an attorney of her choosing prior to signing the Agreement; 
 f. The Release includes a release
of all claims under the Age Discrimination in Employment Act (“ADEA”); 
 g. The Agreement and Release were
originally presented to the Executive on Friday, October 9, 2015. The Executive acknowledges and agrees that she has had the opportunity to take more than 21 days after receiving the Release, to decide whether to sign it; 

h. With regard to the release of ADEA claims contained within the Release, the Executive understands that she has seven
(7) days after signing the Release within which to revoke her thereof (“Revocation Period”), and such revocation will not be effective unless written notice of the revocation is, via mail, e-mail (in .pdf format), hand delivery, or
overnight delivery, directed to and received by Eric J. Wilson, Godfrey & Kahn, S.C., One East Main Street, Suite 500, Madison, WI 53703, E-mail: ewilson@gklaw.com, on or before 5:00 p.m. Central Time on the first business day following the
end of the Revocation Period. Notwithstanding the foregoing, in the event the Executive signs the Release in a timely manner, the parties agree that this Paragraph 20(h) applies only to the release of ADEA claims, and that revocation under this
Paragraph 20(h) shall not apply to her release of any other claims contained within the Release all of which shall remain in full force and effect. The parties further acknowledge and agree that they have valued the release of ADEA claims at
$200,000; therefore, should the Executive revoke her release of ADEA claims under this Agreement, the Severance Payments discussed in Appendix A shall be reduced by $200,000; 

i. The Executive is signing the Agreement knowingly, voluntarily and without any coercion or duress; 

j. The only consideration the Executive is receiving for signing the Agreement is described in the Agreement itself, and no
other promises or representations of any kind have been made to cause her to sign it; and 
 k. If the Executive chooses not
to execute the Release in the manner set forth in Paragraph 20(b), above, this Agreement shall be deemed null and void, and the respective rights and responsibilities of the Executive and the Company under the Employment Agreement shall apply. 

21. Remedies. Upon the material violation or breach by the Executive or the Company of any of the terms of the Agreement, and her/its
failure to cure such breach within five (5) business days of written notice, and in addition to any other remedies available to the wronged party, the wronged party shall be entitled to suspend indefinitely further performance or obligations
(including additional payments due) under the Agreement and recover any 

  
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damages suffered as a result of such breach, including recoupment of any payments made under the Agreement, as well as any reasonable attorneys’ fees and costs incurred in remedying such
breach. In addition, either party may seek injunctive or equitable relief. 
 22. No Mitigation. The Executive shall not be required
to mitigate the amount of any payment provided for in the Agreement by seeking other employment or otherwise. 
 23.
Section 409A. Notwithstanding any provision of the Agreement to the contrary, the Agreement is intended to be exempt from or, in the alternative, comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the
interpretive guidance thereunder (the “Code”), including the exceptions for short-term deferrals, separation pay arrangements, reimbursements, and in-kind distributions. The Agreement shall be construed and interpreted in accordance with
such intent. Each payment under the Agreement or any Company benefit plans is intended to be treated as one of a series of separate payments for purposes of Code Section 409A. 

24. Counterparts. The Agreement may be executed in one or more counterparts, and each such counterpart shall be deemed an original, but
all such counterparts together shall constitute but one agreement. In the event that any signature to the Agreement is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a
valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original 

25. Indemnification and Directors and Officers Liability Insurance Coverage. Notwithstanding anything herein to the contrary, nothing
in this Agreement shall impact in any way the Company’s obligations to indemnify and advance expenses on behalf of the Executive after the Separation Date pursuant to the Company’s Amended and Restated Bylaws (the “Bylaws”) as in
effect on the Separation Date, or other policies or pursuant to Delaware law. It is understood that the Company’s obligation to indemnify and advance expenses shall continue as stated in Article V of the Bylaws whether or not that Article may
be subsequently revoked, modified, or amended. For a minimum of six (6) years after the Separation Date, the Company shall continue to provide directors and officers liability insurance coverage for the Executive with respect to claims arising
out of or in connection with the Executive’s employment. 
 [Signatures to follow on next page] 

  
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 SIGNATURE PAGE TO SEPARATION AGREEMENT 

 

							
	EXECUTIVE	 		 	 GREAT LAKES DREDGE & DOCK

CORPORATION

				
	/s/ Maryann A. Waryjas	 		 	By:	 	/s/ Jonathan W. Berger
	Maryann A. Waryjas	 		 		 	Jonathan W. Berger
		 		 	Its:	 	Chief Executive Officer

  

									
					
		 	Date:	 	10/9/15	 	Date:	 	10/9/15

  
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 APPENDIX A TO SEPARATION AGREEMENT 

POST-TERMINATION PAYMENTS AND BENEFITS 

Unconditional Assistance Benefits. 
 Whether or not
the Executive chooses to sign the Agreement or revoke her release of ADEA claims as described in Paragraph 20(h) of the Agreement, the Company and the Executive acknowledge that the Executive will receive the following Unconditional Assistance
Benefits, to extent that such benefits have not already been provided to the Executive as of the date of this Agreement: 
  

	 	•	 	The Executive shall be paid for all Base Salary earned through the Separation Date. The Executive acknowledges that, should she sign the Agreement, she will use and exhaust the full balance of her accrued and unused
vacation time, beginning on October 28, 2015 and running through the Separation Date and, as such, the Executive shall have no accrued and unused vacation time available as of the Separation Date nor shall the Executive be entitled to any
payout of accrued and unused vacation time. Should the Executive choose not to sign the Agreement, the Executive shall be paid all accrued and unused vacation earned through the Separation Date. 

 

	 	•	 	If the Executive chooses not to sign the Agreement or Release in Appendix B, the Executive shall be paid a pro rata portion of the Executive’s annual bonus at target level. If the Executive chooses to sign
the Agreement and Release, payment of this benefit shall be governed by the “Pro Rata Bonus” provision under “Conditional Assistance Benefits,” below. 

 

	 	•	 	The Executive shall receive any and all benefits under the Company’s Supplemental Savings Plan and employee benefits plans through the Separation Date. 

 

	 	•	 	The Company will reimburse the Executive for any and all reasonable business expenses she incurred on or prior to the Separation Date, in accordance with the Company’s expense reimbursement policy.

  

	 	•	 	The Company will provide the Executive with the right to participate, at her own expense, in the Company’s group health insurance plan, in accordance with the mandates of the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (“COBRA”). 

  

	 	•	 	The Executive will be provided all appropriate information concerning her rights and obligations under the Company’s 401(k) Savings Plan. 

 

	 	•	 	To the extent that the Company has made any over-deductions with respect to the Executive and the Executive’s participation in the Company’s Stock Purchase Plan, the Company will pay all such amounts to the
Executive on the Company’s first regularly scheduled pay date following the Separation Date. 

 Conditional Assistance Benefits.

 As consideration for the Executive’s execution of the Agreement (including the Release in Appendix B), and provided that the
Executive complies with her obligations under the Agreement and the Employment Agreement, then following the expiration of the Revocation Period (as defined in Paragraph 20(h) of the Agreement), the Company will provide the Executive with the
following Conditional Assistance Benefits, in accordance with Section 3.3 of the Employment Agreement: 

  
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	 	•	 	Separation Payments: The Company will pay the Executive an aggregate, pre-tax amount of Five Hundred Two Thousand Five Hundred Dollars ($502,500.00), which is equivalent to eighteen (18) months of the
Executive’s base salary as of the Separation Date (the “Severance Amount”). The Severance Amount will be payable to the Executive in equal installments, less ordinary withholdings, during the eighteen (18) month period (the
“Severance Period”) that begins after the expiration of the Revocation Period (as defined in Paragraph 20(h) of the Agreement), with the Company responsible for payment of the employer’s share of any applicable taxes. All subsequent
payments shall be made on the Company’s regularly scheduled pay dates. For unemployment compensation purposes (if the Executive applies for and is determined eligible to receive said benefits as provided by law), the Executive will immediately
advise the Illinois Department of Employment Security or other applicable unemployment insurance program of her receipt of such severance, and agrees and acknowledges that the Severance Amount shall be allocated to the eighteen (18) months
immediately following the period the expiration of the Revocation Period (as defined in Paragraph 20(h) of the Agreement). 

Notwithstanding the foregoing, in the event of a “Change in Control” during the Severance Period, the balance of the unpaid
Severance Amount shall be accelerated and paid to the Executive in a single lump sum within thirty (30) days of the Change in Control event. For purposes of this Agreement, “Change in Control” shall have that same definition as is set
forth in Section 3.4 of the Employment Agreement. 
  

	 	•	 	Bonus/SSP Payment: The Company will pay to the Executive a single lump-sum payment in the pre-tax amount of Two Hundred Nineteen Thousand and Three Hundred Fifty Dollars ($219,350.00), which is equivalent to one
and one-half times the average of the Executive’s actual annual bonus (on an annualized basis) and the Supplemental Savings Plan benefits over three years (or shorter period) immediately preceding the Separation Date (the “Bonus/SSP
Payment”). The Bonus/SSP Payment will be paid when all other Company executives receive annual bonus payments, if any, but in no event later than March 15, 2016. 

 

	 	•	 	Pro Rata Bonus. The Executive shall be paid a pro rata portion (based on days elapsed in the calendar year through October 9, 2015) of the Executive’s annual bonus at target level. This payment of One
Hundred Twenty-Nine Thousand Four Hundred Ten and 50/100 Dollars ($129,410.50) shall be made in a single lump sum on the Company’s first regularly scheduled pay date following the Separation Date. Should the Executive choose to sign the
Agreement and Release, the Executive acknowledges and agrees that this is the appropriate calculation of the “pro rata portion of the Executive’s annual bonus at the target level under Section 2.2” referenced in Section 3.3
of the Employment Agreement. 

  
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	 	•	 	COBRA Subsidization: If the Executive exercises her right to continue coverage under the Company’s medical and dental plans pursuant to COBRA, the Company will continue to pay the normal employer share of
such costs for up to eighteen (18) months following the Separation Date. During the period under which the Executive is receiving the Severance Amount, the Company shall reduce the Executive’s payments of the Severance Amount by the
Executive’s share of the cost of such benefits, which shall be fixed at the amount the Executive paid for such coverage on the Separation Date. 

  

	 	•	 	Vesting Credit: The Executive shall receive eighteen (18) months of age and vesting credit for any unvested equity awards, measured from the Separation Date. As such, her “Termination Date” for
purposes of any such agreement shall be determined to be May 10, 2017. 

 The Company and the Executive agree that because the
Conditional Assistance Benefits detailed below are being provided to the Executive, in part, to ensure that the Executive has no incentive to initiate litigation against the Company for claims arising on or before the date of this Agreement, if the
Executive files any action against the Company in any court of competent jurisdiction, and such action includes any claim or claims arising on or before the date of this Agreement, then the Company’s obligation to pay any amounts under this
Agreement shall cease, any amounts paid to the Executive under this Agreement prior to the date on which the action is filed shall become immediately owed to the Company, and the Company shall have right to recover such amounts owed to the Company
through any means permitted by law. 
 Pursuant to Section 3.6 of the Employment Agreement, the Company’s obligation to pay the Conditional
Assistance Benefits shall cease upon: (a) the Executive’s material breach or breaches of any of her contractual obligations to the Company, including those contained in the Agreement and the Employment Agreement; or (b) the
Company’s discovery of facts and circumstances that would have justified the Executive’s termination for Cause (as defined in the Employment Agreement). 

By signing this Agreement, the Executive acknowledges and agrees that nothing in the Agreement, including this Appendix A, is intended to be
tax advice and that the Company recommends that the Executive discuss her personal tax situation with her tax advisor. 

  
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 APPENDIX B TO SEPARATION AGREEMENT 

GENERAL RELEASE AND WAIVER OF CLAIMS 
  

	1.	Released Parties. As used in the Agreement to which this Appendix is attached and in this Appendix B (the “Release”), “Released Parties” means: (a) the Company; (b) all
of the Company’s subsidiaries and affiliates; and (c) all past and present officers, directors, agents, employees, employee benefit plans (and their sponsors, fiduciaries and administrators), insurers, and attorneys of any of the entities
described in the immediately preceding clauses (a) and (b). 

  

	2.	Release and Waiver of Claims. 

  

	 	a.	In return for the consideration from the Company described in the Agreement, the Executive, on behalf of herself and her agents, representatives, attorneys, assigns, heirs, executors, and administrators, releases each
of the Released Parties from, and agrees not to bring any action, suit or proceeding against any of the Released Parties regarding, any and all liability, claims, demands, actions, causes of action, suits, grievances, debts, sums of money,
agreements, promises, damages, back and front pay, costs, expenses, attorneys’ fees, and remedies of any type (collectively, “Claims”), relating to any act, failure to act or event that occurred up to and including the date on which
the Executive signs the Agreement, including without limitation, all Claims arising out of or in connection with the Executive’s employment or separation of employment with the Company, and including but not limited to: 

 

	 	i.	The Age Discrimination in Employment Act of 1967, as amended (“ADEA”); 

  

	 	ii.	Any and all Claims arising out of any federal, state or local law, including but not limited to Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866 (42 U.S.C. § 1981), the Americans with
Disabilities Act, the Employee Retirement Income Security Act, the False Claims Act, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, and the Illinois Human Rights Act; 

 

	 	iii.	Any and all Claims for wrongful or retaliatory discharge of employment, termination in violation of public policy, discrimination, breach of contract (both express and implied), breach of a covenant of good faith and
fair dealing (both express and implied), promissory estoppel, negligent or intentional infliction of emotional distress, negligent or intentional misrepresentation or fraud, negligent or intentional interference with contract or prospective economic
advantage, defamation, negligence, personal injury, invasion of privacy, false imprisonment, conversion, or any other remuneration; and/or any other contract or tort claim; 

 

	 	iv.	Any and all Claims arising out of any constitutional provision, statute, law, ordinance, executive order, or regulation relating to employment, termination of employment or discrimination or retaliation in employment;

  

	 	v.	Any and all Claims arising out of any written or unwritten contract, agreement, policy, benefit plan, retirement or pension plan, option plan, severance plan, covenant of any kind, or failure to pay wages, bonuses,
employee benefits, other compensation, damages, or any other remuneration; and/or 

  
 1 

	 	vi.	Any and all Claims for attorneys’ fees and costs. 

  

	 	b.	This Release does not apply to or affect Claims that cannot be released or waived under applicable law, Claims for benefits under applicable worker’s compensation laws, Claims for benefits arising under the
Agreement, Claims for benefits under any applicable Company director and officer liability insurance policy, Claims for indemnification or advancement of expenses under Article V of the Amended and Restated Bylaws of the Company, or Claims for
benefits in accordance with the terms of the Company’s health and dental benefit plans, as modified by COBRA, or Claims under the Company’s 401(k) or Supplemental Savings Plans. This Release shall not limit or restrict the Executive’s
right under the ADEA to challenge the validity of the Agreement in a court of law, including the Executive’s right to file a charge or complaint with a government agency (including, without limitation, the Equal Employment Opportunity
Commission) or participate in an investigation or proceeding initiated or conducted by a government agency concerning that charge or complaint; provided, however, this Release does prevent the Executive from making any personal recovery
against the Company or the Released Parties, including the recovery of money damages, as a result of filing an ADEA charge or complaint with a government agency against the Company and/or any of the Released Parties. Likewise, by signing this
Release, the Executive acknowledges and agrees that if she brings any claim or claims against the Company under the Illinois Wage Payment and Collection Act, any recovery she receives shall be offset by any amounts she has received for the Severance
Payment and Bonus/SSP Payment as provided in Appendix A. 

  

	 	c.	The Executive affirms that as of the time she signed the Agreement and Release, no Claim, action or proceeding covered by Paragraph 2(a) of this Release was or is pending against any of the Released Parties. The
Executive further acknowledges that she is the sole and lawful owner of all rights, title and interest in and to all matters released under this Paragraph 2, and that she has not assigned or transferred, or purported to assign or transfer, any of
such released matters to any other person or entity. 

  

	3.	Governing Law. This Release and its interpretation shall be governed and construed in accordance with the laws of the state of Illinois, and shall be binding upon the parties hereto and the Company’s and the
Executive’s respective successors and assigns. 

  

	4.	Voluntary Acceptance Procedures. As detailed in Paragraph 20 of the Agreement, the Executive, by signing this Release below, acknowledges and agrees to the following: 

 

	 	a.	The Executive has been (and is hereby) advised by the Company to consult with an attorney before signing this Release; 

  

	 	b.	The Agreement, including the Release, were originally presented to the Executive on October 9, 2015, and the Executive has had the opportunity to take more than 21 days after receiving this Release to decide
whether to sign it, has carefully read and fully understands the terms of this Release and accepts such terms knowingly and voluntarily; 

  
 2 

	 	c.	The Executive understands that this Release includes a general release of claims, including a release of all claims under the ADEA; 

  

	 	d.	The Executive understands that she may accept this Release at any time after the Separation Date by signing and dating in the space indicated below and returning the signed and dated Release and Agreement, via mail,
e-mail (in .pdf format), hand delivery, or overnight delivery, so that it is received by Eric J. Wilson, Godfrey & Kahn, S.C., One East Main Street, Suite 500, Madison, WI 53703, E-mail: ewilson@gklaw.com, on or before 5:00 p.m. Central
Time no later than Tuesday, November 17, 2015; and 

  

	 	e.	The Executive understands that, with regard to the release of ADEA claims contained above, she has seven (7) days after signing the Agreement and the Release within which to revoke her acceptance of the release of
such ADEA claims (“Revocation Period”), and such revocation will not be effective unless written notice of the revocation is, via mail, e-mail (in .pdf format), hand delivery, or overnight delivery, directed to and received by Eric J.
Wilson, Godfrey & Kahn, S.C., One East Main Street, Suite 500, Madison, WI 53703, E-mail: ewilson@gklaw.com, on or before 5:00 p.m. Central Time on the first business day following the end of the Revocation Period. The Executive further
understands that, notwithstanding the foregoing, in the event the Executive signs this Agreement in a timely manner, the Executive may revoke only her release of ADEA claims, and that such revocation shall not apply to her release of any other
claims contained within this Release, all of which shall remain in full force and effect. The parties further acknowledge and agree that they have valued the release of ADEA claims at $200,000; therefore, should the Executive revoke her release of
ADEA claims under the Agreement, the Severance Payment discussed in Appendix A shall be reduced by $200,000. 

  

	5.	Partial Invalidity of Release. If any part of this Release is held to be unenforceable, invalid or void, then the balance of this Release shall nonetheless remain in full force and effect to the extent permitted
by law. 

  

	6.	Headings. The headings and subheadings in this Release are inserted for convenience and reference only, and are not to be used in construing the Release. 

 

	 	EXECUTED THIS	             DAY OF
                                , 2015. 

 

	
	
	
	   

	Maryann Waryjas

  
 3EX-10.1

 Exhibit 10.1 
  

 
 October 14, 2015 

Ms. Donna M. Coleman 
 The Madison Square Garden
Company 
 Two Pennsylvania Plaza 
 New York, NY 10121 

Dear Donna: 
 This letter agreement (the “Agreement”),
effective on October 16, 2015 (the “Effective Date”), will confirm the terms of your continued employment with The Madison Square Garden Company (the “Company”) following the Effective Date. 

1. Your title will be Executive Vice President and Chief Financial Officer and you will continue to report to the Chief Executive Officer of the Company. You
agree to continue to devote all of your business time and attention to the business and affairs of the Company and to perform your duties in a diligent, competent, professional and skillful manner and in accordance with applicable law. You shall not
undertake any outside business commitments without the Company’s consent. 
 2. Your annual base salary will be not less than $900,000 annually, paid
bi-weekly, subject to annual review and potential increase by the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) in its discretion. The Compensation Committee will review your compensation
package on an annual basis to ensure that you are paid consistently with other similarly situated executives as well as external peers. 
 3. You will also
participate in our discretionary annual bonus program with an annual target bonus opportunity equal to not less than 150% of your annual base salary (with such target bonus opportunity effective for the current fiscal year). Bonus payments are based
on actual salary dollars paid during the year and depend on a number of factors including Company, unit and individual performance; provided, however, that for the Company’s current fiscal year (ending June 30, 2016), your target bonus
percentage will be applied against your full $900,000 base salary. However, the decision of whether or not to pay a bonus, and the amount of that bonus, if any, is made by the Compensation Committee in its sole discretion. Annual bonuses are
typically paid early in the subsequent fiscal year. Except as otherwise provided herein, in order to receive a bonus, you must be employed by the Company at the time bonuses are being paid. Notwithstanding the foregoing, if your employment with the
Company ends on the Scheduled Expiration Date (as defined below), you shall be paid your bonus for the fiscal year ending June 30, 2018, if any, even if such payment is not made to you prior to the Scheduled Expiration Date, which bonus shall
be subject to Company and your business unit performance for that fiscal year as determined by the Company in its sole discretion, but without adjustment for your individual performance. 

 Ms. Donna M. Coleman 

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 4. You will also, subject to your continued employment by the Company and actual grant by the Compensation
Committee, participate in such equity and other long-term incentive programs that are made available in the future to similarly situated executives at the Company. It is expected that such awards will consist of annual grants of cash and/or equity
awards with an annual target value of not less than $2,000,000, all as determined by the Compensation Committee in its discretion. All awards described in this Paragraph, in addition to being subject to actual grant by the Compensation Committee,
would be pursuant to the applicable plan document and would be subject to any terms and conditions established by the Compensation Committee in its sole discretion that would be detailed in separate agreements you would receive after any award is
actually made; provided, however, that such terms and conditions shall be consistent with those in awards granted to similarly situated executives. Long-term incentive awards are currently expected to be subject to three-year vesting; provided,
however, that the first such grant with a target value of $2,000,000 (for the Company’s current fiscal year) will be subject to the same vesting schedule as the long-term awards granted to similarly situated executives on September 11, 2015.

 5. You will also continue to be eligible to participate in our standard benefits program, subject to meeting the relevant eligibility requirements,
payment of the required premiums, and the terms of the plans themselves. We currently offer medical, dental, vision, life, and accidental death and dismemberment insurance; short- and long- term disability insurance; a savings and retirement
program; and ten paid holidays. You will also continue to be eligible for four (4) weeks of vacation to be accrued and used in accordance with Company policy. 

6. If your employment with the Company is terminated on or prior to October 1, 2018 (the “Scheduled Expiration Date”) (i) by the Company
(other than for “Cause”); or (ii) by you for “Good Reason” (other than if “Cause” then exists); then, subject to your execution and delivery, within 60 days after the date of termination of your employment, and
non-revocation (within any applicable revocation period) of the Separation Agreement (as defined below), the Company will provide you with the following: 
  

	 	(a)	Severance in an amount to be determined by the Company (the “Severance Amount”), but in no event less than two (2) times the sum of your annual base salary and your annual target bonus as in effect at the
time your employment terminates. Sixty percent (60%) of the Severance Amount will be payable to you on the six-month anniversary of the date your employment so terminates (the “Termination Date”) and the remaining forty percent
(40%) of the Severance Amount will be payable to you on the twelve-month anniversary of the Termination Date; 

  

	 	(b)	Any unpaid annual bonus for the Company’s fiscal year prior to the fiscal year which includes your Termination Date, and a pro rated bonus based on the amount of your base salary actually earned by you
during the Company’s fiscal year through the Termination Date, each of which will be paid to you when such bonuses are generally paid to similarly situated active executives and will be based on your then current annual target bonus as well as
Company and your business unit performance for the applicable fiscal year as determined by the Company in its sole discretion, but without adjustment for your individual performance; 

 Ms. Donna M. Coleman 

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	 	(c)	Each of your outstanding long-term cash awards granted under the plans of the Company shall immediately vest in full and shall be payable to you at the same time as such awards are paid to active executives of the
Company and the payment amount of such award shall be to the same extent that other similarly situated active executives receive payment as determined by the Compensation Committee (subject to satisfaction of any applicable performance criteria but
without adjustment for your individual performance); 

  

	 	(d)	(i) All of the time-based restrictions on each of your outstanding restricted stock or restricted stock unit awards granted to you under the plans of the Company shall immediately be eliminated, (ii) deliveries
with respect to your restricted stock that are not subject to performance criteria or are subject to performance criteria that have previously been satisfied (as certified by the Compensation Committee) shall be made immediately after the effective
date of the Separation Agreement, (iii) payment and deliveries with respect to your restricted stock units that are not subject to performance criteria or are subject to performance criteria that have previously been satisfied (as certified by
the Compensation Committee) shall be made on the 90th day after the termination of your employment and (iv) payments or deliveries with respect to your restricted stock and restricted stock
units that are subject to performance criteria that have not yet been satisfied shall be made on the 90th day after the applicable performance criteria is certified by the Compensation Committee
as having been satisfied; and 

  

	 	(e)	Each of your outstanding stock options and stock appreciation awards, if any, under the plans of the Company shall immediately vest and become exercisable, and you shall have the right to exercise each of those options
and stock appreciation awards for the remainder of the term of such option or award. 

 If you die after a termination of your employment that
is subject to this Paragraph 6, your estate or beneficiaries will be provided with any remaining benefits and rights under this Paragraph 6. 
 7. If you
cease to be an employee of the Company prior to the Scheduled Expiration Date as a result of your death or your Disability (as defined in the Company’s Long Term Disability Plan), and at such time Cause does not exist then, subject (other than
in the case of death) to your execution and delivery, within 60 days after the date of termination of your employment, and non-revocation (within any applicable revocation period) of the Separation Agreement, you or your estate or beneficiary shall
be provided with the benefits and rights set forth in Paragraphs 6(b), (d) and (e) above, and each of your outstanding long-term cash awards granted under the plans of the Company shall immediately vest in full, whether or not subject to
performance criteria and shall be payable on the 90th day after the termination of your employment; provided, that if any such award is subject to any performance criteria, then (i) if the
measurement period for such performance criteria has not yet been fully completed, then the payment amount shall be at the target amount for such award and (ii) if the measurement period for such performance criteria has already been fully
completed, then the payment of such award shall be at the same time and to the extent that other similarly situated executives receive payment as determined by the Compensation Committee (subject to satisfaction of the applicable performance
criteria). 

 Ms. Donna M. Coleman 

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 8. For purposes hereof, “Separation Agreement” shall mean the Company’s standard severance
agreement (modified to reflect the terms of this Agreement) which will include, without limitation, the provisions set forth in Paragraphs 6, 7 and 9 hereof and Annex A hereto regarding non-compete (limited to one year), non-disparagement,
non-hire/non-solicitation, confidentiality (including, without limitation, the last paragraph of Section 3 of Annex A), and further cooperation obligations and restrictions on you (with Company reimbursement of your associated expenses and
payment for your services as described in Annex A in connection with any required post-employment cooperation) as well as a general release by you of the Company and its affiliates (and their respective directors and officers), but shall otherwise
contain no post-employment covenants unless agreed to by you. The Company shall provide you with the form of Separation Agreement within seven days of your termination of employment. For avoidance of doubt, your rights of indemnification under the
Company’s Amended and Restated Certificate of Incorporation, under your indemnification agreement with the Company and under any insurance policy, or under any other resolution of the Board of Directors of the Company shall not be released,
diminished or affected by any Separation Agreement or release or any termination of your employment. 
 9. Except as otherwise set forth in Paragraphs 6 and
7 hereof, in connection with any termination of your employment, your then outstanding equity and cash incentive awards shall be treated in accordance with their terms and, other than as provided in this Agreement, you shall not be eligible for
severance benefits under any other plan, program or policy of the Company. Nothing in this Agreement is intended to limit any more favorable rights that you may be entitled to under your equity and cash incentive award agreements, including, without
limitation, your rights in the event of a termination of your employment, a “Going Private Transaction” or a “Change of Control” (as those terms are defined in the applicable award agreement). 

10. For purposes of this Agreement, “Cause” means your (i) commission of an act of fraud, embezzlement, misappropriation, willful
misconduct, gross negligence or breach of fiduciary duty against the Company or an affiliate thereof, or (ii) commission of any act or omission that results in a conviction, plea of no contest, plea of nolo contendere, or imposition of
unadjudicated probation for any crime involving moral turpitude or any felony. 
 For purposes of this Agreement, “Good Reason” means that
(1) without your written consent, (A) your annual base salary or annual target bonus (as each may be increased from time to time in the Compensation Committee’s sole discretion) is reduced, (B) your title (as in effect from time
to time) is diminished, (C) you report to someone other than to the President & Chief Executive Officer or the Executive Chairman of the Board of the Company, (D) you are no longer the Company’s most senior financial officer,
(E) the Company requires that your principal office be located outside of the Borough of Manhattan, (F) the Company materially breaches its obligations to you under this Agreement; or (G) your responsibilities as in effect immediately
after the Effective Date are thereafter materially diminished, (2) you have given the Company written notice, referring specifically to this Agreement and definition, that you do not consent to such action, (3) the Company has not
corrected such action within 15 days of receiving such notice, and (4) you voluntarily terminate your employment with the Company within 90 days following the happening of the action described in subsection (1) above. 

 Ms. Donna M. Coleman 

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 11. This Agreement does not constitute a guarantee of employment for any definite period. Your employment is
at will and may be terminated by you or the Company at any time, with or without notice or reason. 
 12. The Company may withhold from any payment
due to you any taxes required to be withheld under any law, rule or regulation. If any payment otherwise due to you hereunder would result in the imposition of the excise tax imposed by Section 4999 of the Code, the Company will instead pay you
either (i) such amount or (ii) the maximum amount that could be paid to you without the imposition of the excise tax, depending on whichever amount results in your receiving the greater amount of
after-tax proceeds. In the event that the payments and benefits payable to you would be reduced as provided in the previous sentence, then such reduction will be determined in a manner which has the least
economic cost to you and, to the extent the economic cost is equivalent, such payments or benefits will be reduced in the inverse order of when the payments or benefits would have been made to you (i.e. later payments will be reduced first)
until the reduction specified is achieved. If the Company elects to retain any accounting or similar firm to provide assistance in calculating any such amounts, the Company shall be responsible for the costs of any such firm. 

13. It is intended that this Agreement will comply with Section 409A to the extent this Agreement is subject thereto, and that this Agreement shall be
interpreted on a basis consistent with such intent. If and to the extent that any payment or benefit under this Agreement, or any plan, award or arrangement of the Company or its affiliates, constitutes “non-qualified deferred
compensation” subject to Section 409A and is payable to you by reason of your termination of employment, then (a) such payment or benefit shall be made or provided to you only upon a “separation from service” as defined for
purposes of Section 409A under applicable regulations and (b) if you are a “specified employee” (within the meaning of Section 409A as determined by the Company), such payment or benefit shall not be made or provided before
the date that is six months after the date of your separation from service (or your earlier death). Any amount not paid or benefit not provided in respect of the six month period specified in the preceding sentence will be paid to you, together with
interest on such delayed amount at a rate equal to the average of the one-year LIBOR fixed rate equivalent for the ten business days prior to the date of your employment termination, in a lump sum or provided to you as soon as practicable after the
expiration of such six month period. Each payment or benefit provided under this Agreement shall be treated as a separate payment for purposes of Section 409A to the extent Section 409A applies to such payment. 

14. To the extent you are entitled to any expense reimbursement from the Company that is subject to Section 409A, (i) the amount of any such
expenses eligible for reimbursement in one calendar year shall not affect the expenses eligible for reimbursement in any other taxable year (except under any lifetime limit applicable to expenses for medical care), (ii) in no event shall any
such expense be reimbursed after the last day of the calendar year following the calendar year in which you incurred such expense, and (iii) in no event shall any right to reimbursement be subject to liquidation or exchange for another benefit.

 Ms. Donna M. Coleman 

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 15. The Company will not take any action, or omit to take any action, that would expose any payment or
benefit to you to the additional tax of Section 409A, unless (i) the Company is obligated to take the action under an agreement, plan or arrangement to which you are a party, (ii) you request the action, (iii) the Company advises
you in writing that the action may result in the imposition of the additional tax and (iv) you subsequently request the action in a writing that acknowledges you will be responsible for any effect of the action under Section 409A. The
Company will hold you harmless for any action it may take or omission in violation of this Paragraph 15, including any attorney’s fees you may incur in enforcing your rights. 

16. It is our intention that the benefits and rights to which you could become entitled in connection with termination of employment be exempt from or comply
with Section 409A. If you or the Company believes, at any time, that any of such benefit or right is not exempt or does not comply, it will promptly advise the other and will negotiate reasonably and in good faith to amend the terms of such
arrangement such that it complies (with the most limited possible economic effect on you and on the Company). 
 17. This Agreement is personal to you and
without the prior written consent of the Company shall not be assignable by you. This Agreement shall inure to the benefit of and be enforceable by your legal representatives. This Agreement shall inure to the benefit of and be binding upon the
Company and its successors and assigns. The rights or obligations of the Company under this Agreement may only be assigned or transferred pursuant to a merger or consolidation in which the Company is not the continuing entity, or the sale or
liquidation of all or substantially all of the assets of Company; provided, however, that the assignee or transferee is the successor to all or substantially all of the assets of Company and such assignee or transferee assumes the liabilities and
duties of Company, as contained in this Agreement, either contractually or as a matter of law. 
 18. To the extent permitted by law, you and the Company
waive any and all rights to a jury trial with respect to any matter relating to this Agreement (including the covenants set forth in Annex A hereof). This Agreement will be governed by and construed in accordance with the law of the State of New
York applicable to contracts made and to be performed entirely within that State. 
 19. Both the Company and you hereby irrevocably submit to the
jurisdiction of the courts of the State of New York and the federal courts of the United States of America in each case located in the City of New York, Borough of Manhattan, solely in respect of the interpretation and enforcement of the provisions
of this Agreement, and each party hereby waives, and agrees not to assert, as a defense that either party, as appropriate, is not subject thereto or that the venue thereof may not be appropriate. You and the Company each agree that mailing of
process or other papers in connection with any such action or proceeding in any manner as may be permitted by law shall be valid and sufficient service thereof. 

 Ms. Donna M. Coleman 

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 20. This Agreement may not be amended or modified otherwise than by a written agreement executed by the
parties hereto or their respective successors and legal representatives. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. It is the
parties’ intention that this Agreement not be construed more strictly with regard to you or the Company. 
 21. This Agreement reflects the entire
understanding and agreement of you and the Company with respect to the subject matter hereof and supersedes all prior understandings or agreements relating thereto, including without limitation, the letter agreement by and between you and the
Company dated April 30, 2015; provided, however, that you shall be entitled to the benefits under the indemnification agreement between you and the Company. 

22. This Agreement will automatically terminate, and be of no further force or effect, on the Scheduled Expiration Date; provided, however, that the
provisions of Paragraphs 6 through 9, 12 through 22 and Annex A, and any amounts earned but not yet paid to you pursuant to the terms of this Agreement as of the Scheduled Expiration Date shall survive the termination of the Agreement and remain
binding on you and the Company in accordance with their terms. 

 Ms. Donna M. Coleman 

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	Sincerely,
	
	THE MADISON SQUARE GARDEN COMPANY
	
	 /s/ David O’Connor

	By: David O’Connor
	Title: President & Chief Executive Officer

  

	
	Accepted and Agreed:
	
	 /s/ Donna M. Coleman

	Donna M. Coleman

 Ms. Donna M. Coleman 

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 ANNEX A 

ADDITIONAL COVENANTS 
 (This Annex
constitutes part of the Agreement) 
 You agree to comply with the following covenants in addition to those set forth in the Agreement. 

1. CONFIDENTIALITY 
 You agree to retain in strict confidence and
not divulge, disseminate, copy or disclose to any third party any Confidential Information, other than for legitimate business purposes of the Company and its subsidiaries. As used herein, “Confidential Information” means any non-public
information that is material or of a confidential, proprietary, commercially sensitive or personal nature of, or regarding, the Company or any of its subsidiaries or any current or former director, officer or member of senior management of any of
the foregoing (collectively “Covered Parties”). The term Confidential Information includes information in written, digital, oral or any other format and includes, but is not limited to (i) information designated or treated as
confidential; (ii) budgets, plans, forecasts or other financial or accounting data; (iii) customer, guest, fan, vendor, sponsor, marketing affiliate or shareholder lists or data; (iv) technical or strategic information regarding the
Covered Parties’ advertising, sports, entertainment, theatrical, or other businesses; (v) advertising, sponsorship, business, sales or marketing tactics, strategies or information; (vi) policies, practices, procedures or techniques;
(vii) trade secrets or other intellectual property; (viii) information, theories or strategies relating to litigation, arbitration, mediation, investigations or matters relating to governmental authorities; (ix) terms of agreements
with third parties and third party trade secrets; (x) information regarding employees, talent, players, coaches, agents, consultants, advisors or representatives, including their compensation or other human resources policies and procedures;
(xi) information or strategies relating to any potential or actual business development transactions and/or any potential or actual business acquisition, divestiture or joint venture, and (xii) any other information the disclosure of which
may have an adverse effect on the Covered Parties’ business reputation, operations or competitive position, reputation or standing in the community. 

If disclosed, Confidential Information or Other Information could have an adverse effect on the Company’s standing in the community, its business
reputation, operations or competitive position or the standing, reputation, operations or competitive position of any of its affiliates, subsidiaries, officers, directors, employees, coaches, consultants or agents or any of the Covered Parties. 

Notwithstanding the foregoing, the obligations of this section, other than with respect to subscriber information, shall not apply to Confidential Information
which is: 
 a) already in the public domain or which enters the public domain other than by your breach of this Paragraph 1; 

b) disclosed to you by a third party with the right to disclose it in good faith; or 

c) specifically exempted in writing by the Company from the applicability of this Agreement. 

 Ms. Donna M. Coleman 

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 Notwithstanding anything elsewhere in this Agreement, including this Paragraph 1 and Paragraph 3 below, you
are authorized to make any disclosure required of you by any federal, state and local laws or judicial, arbitral or governmental agency proceedings (including making truthful statements in connection with a judicial or arbitral proceeding to enforce
your rights under this Agreement, to the extent reasonably required and made in good faith), after, to the extent legal and practicable, providing the Company with prior written notice and an opportunity to respond prior to such disclosure. In
addition, this Agreement in no way restricts or prevents you from providing truthful testimony concerning the Company to judicial, administrative, regulatory or other governmental authorities. 

2. NON-COMPETE 
 You acknowledge that due to your executive
position in the Company and the knowledge of the Company’s and its affiliates’ confidential and proprietary information which you will obtain during the term of your employment hereunder, your employment by certain businesses would be
irreparably harmful to the Company and/or its affiliates. During your employment with the Company and thereafter through the first anniversary of the date on which your employment with the Company has terminated for any reason, you agree not to
(other than with the prior written consent of the Company), become employed by any Competitive Entity (as defined below). A “Competitive Entity” shall mean any (i) any NHL or NBA team located in New York, New Jersey or Connecticut, or
(ii) any arena or theater (with at least 1,000 seats) that competes in the same city as any of the Company’s arena’s or theaters, respectively. Additionally, the ownership by you of not more than 1% of the outstanding equity of any
publicly traded company shall not, by itself, be a violation of this Paragraph. 
 3. ADDITIONAL UNDERSTANDINGS 

You agree, for yourself and others acting on your behalf, that you (and they) have not disparaged and will not disparage, make negative statements about
(either “on the record” or “off the record”) or act in any manner which is intended to or does damage to the good will of, or the business or personal reputations of the Company or any of its incumbent or former officers,
directors, agents, consultants, employees, successors and assigns or any of the Covered Parties. 
 The Company agrees that, except as necessary to comply
with applicable law or the rules of the New York Stock Exchange or any other stock exchange on which the Company’s stock may be traded (and any public statements made in good faith by the Company in connection therewith), it and its corporate
officers and directors, employees in its public relations department or third party public relations representatives retained by the Company will not disparage you or make negative statements in the press or other media which are damaging to your
business or personal reputation. In the event that the Company so disparages you or makes such negative statements, then notwithstanding the “Additional Understandings” provision to the contrary, you may make a proportional response
thereto. 

 Ms. Donna M. Coleman 

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 In addition, you agree that the Company is the owner of all rights, title and interest in and to all
documents, tapes, videos, designs, plans, formulas, models, processes, computer programs, inventions (whether patentable or not), schematics, music, lyrics and other technical, business, financial, advertising, sales, marketing, customer or product
development plans, forecasts, strategies, information and materials (in any medium whatsoever) developed or prepared by you or with your cooperation in connection with your employment by the Company (the “Materials”). The Company will have
the sole and exclusive authority to use the Materials in any manner that it deems appropriate, in perpetuity, without additional payment to you. 
 If
requested by the Company, you agree to deliver to the Company upon the termination of your employment, or at any earlier time the Company may request, all memoranda, notes, plans, files, records, reports, and software and other documents and data
(and copies thereof regardless of the form thereof (including electronic copies)) containing, reflecting or derived from Confidential Information or the Materials of the Company or any of its affiliates which you may then possess or have under your
control. If so requested, you shall provide to the Company a signed statement confirming that you have fully complied with this Paragraph. Notwithstanding the foregoing, you shall be entitled to retain your contacts, calendars and personal diaries
and any materials needed for your tax return preparation or related to your compensation. 
 In addition, you agree for yourself and others acting on your
behalf, that you (and they) shall not, at any time, participate in any way in the writing or scripting (including, without limitation, any “as told to” publications) of any book, periodical story, movie, play, or other similar written or
theatrical work or video that (i) relates to your services to the Company or any of its affiliates or (ii) otherwise refers to the Company or its respective businesses, activities, directors, officers, employees or representatives (other
than identifying your biographical information), without the prior written consent of the Company. 
 4. FURTHER COOPERATION 

Following the date of termination of your employment with the Company (the “Expiration Date”), you will no longer provide any regular services to the
Company or represent yourself as a Company agent. If, however, the Company so requests, you agree to cooperate fully with the Company in connection with any matter with which you were involved prior to the Expiration Date, or in any litigation or
administrative proceedings or appeals (including any preparation therefore) where the Company believes that your personal knowledge, attendance and participation could be beneficial to the Company. This cooperation includes, without limitation,
participation on behalf of the Company in any litigation or administrative proceeding brought by any former or existing Company employees, representatives, agents or vendors. The Company will pay you for your services rendered under this provision
at the rate of $6,120 per day for each day or part thereof, within 30 days of the approval of the invoice therefor. 

 Ms. Donna M. Coleman 

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 The Company will provide you with reasonable notice in connection with any cooperation it requires in
accordance with this section and will take reasonable steps to schedule your cooperation in any such matters so as not to materially interfere with your other professional and personal commitments. The Company will reimburse you for any reasonable
out-of-pocket expenses you reasonably incur in connection with the cooperation you provide hereunder as soon as practicable after you present appropriate documentation evidencing such expenses. You agree to provide the Company with an estimate of
such expense before you incur the same. 
 5. NON-HIRE OR SOLICIT 

You agree not to hire, seek to hire, or cause any person or entity to hire or seek to hire (without the prior written consent of the Company), directly or
indirectly (whether for your own interest or any other person or entity’s interest) any person who is or was in the prior six months an employee of the Company, or any of its subsidiaries, until the first anniversary of the date of your
termination of employment with the Company. This restriction does not apply to any former employee who was discharged by the Company or any of its affiliates. In addition, this restriction will not prevent you from providing references. If you
remain continuously employed with the Company through the Scheduled Expiration Date, then this agreement not to hire or solicit will expire on the Scheduled Expiration Date. 

6. ACKNOWLEDGMENTS 
 You acknowledge that the restrictions
contained in this Annex A, in light of the nature of the Company’s business and your position and responsibilities, are reasonable and necessary to protect the legitimate interests of the Company. You acknowledge that the Company has no
adequate remedy at law and would be irreparably harmed if you breach or threaten to breach the provisions of this Annex A, and therefore agree that the Company shall be entitled to injunctive relief, to prevent any breach or threatened breach of any
of those provisions and to specific performance of the terms of each of such provisions in addition to any other legal or equitable remedy it may have. You further agree that you will not, in any equity proceeding relating to the enforcement of the
provisions of this Annex A, raise the defense that the Company has an adequate remedy at law. Nothing in this Annex A shall be construed as prohibiting the Company from pursuing any other remedies at law or in equity that it may have or any other
rights that it may have under any other agreement. If it is determined that any of the provisions of this Annex A or any part thereof, is unenforceable because of the duration or scope (geographic or otherwise) of such provision or because of
applicable rules of professional responsibility, it is the intention of the parties that the duration or scope of such provision, as the case may be, shall be reduced so that such provision becomes enforceable and, in its reduced form, such
provision shall then be enforceable and shall be enforced. 
 7. SURVIVAL 

The provisions of this Annex A shall survive any termination of your employment by the Company or the expiration of the Agreement except as otherwise provided
herein.

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