Document:

Exhibit

Exhibit 10.9
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

Participant:                    «Full Participant Name»

Number of 
Options:                    «Shares»

Option Price:                    US$«Grant Price»

Grant Date:                    «Grant Date»

Exercise Rights Begin:

Vesting Dates                Percentage of Grant
    
1st Anniversary of the Grant Date:    33.33% (rounded down to the nearest whole share)
2nd Anniversary of the Grant Date:    33.33% (rounded to the nearest whole share)
3rd Anniversary of the Grant Date:    33.33% (all remaining shares)

Option Term Expires:                «Expiration Date»

1.  Option Grant.  Tupperware Brands Corporation, a Delaware corporation (“Tupperware”), pursuant to the Tupperware Brands Corporation 2016 Incentive Plan (the “Plan”), a copy of which is available online at www.ubs.com/onesource/tup or by requesting a copy from the Corporate Secretary’s Office, hereby grants to the Participant as of the Grant Date a non-qualified stock option (the “Stock Option”) to purchase from Tupperware a number of shares of the common stock of Tupperware, $0.01 par value (“Common Stock” or “Shares”), at the Option Price, all as specifically indicated on the grant offered to the Participant in this Agreement.  The Stock Option is exercisable in accordance with the terms and conditions of this Non-Qualified Stock Option Grant Agreement, including applicable special terms and conditions for the Participant’s country set forth in any appendix hereto as provided in Section 21 below (the “Appendix”; this Non-Qualified Stock Option Agreement and the Appendix collectively referred to hereinafter as this “Agreement”), and the Plan.  The Participant shall execute this Agreement by accepting it online at www.ubs.com/onesource/tup.  If Tupperware determines that this Agreement or any other agreement from the Participant is appropriate, or required in another format, in order to comply with any listing, registration or other legal requirement, the Participant shall execute and deliver such agreement to Tupperware.  The Participant’s failure to accept this Agreement or other required agreement may prevent the exercise of the Stock Option as described in Section 3 below.  All determinations and interpretations made by Tupperware in connection with any question arising under this Agreement or the Plan are binding and conclusive upon the Participant and his or her legal representative.  If there is any conflict between the provisions of this Agreement and the Plan, the Plan shall control.  Capitalized terms used and not defined in this Agreement have the meanings given to them in the Plan.

2.  Term and Exercise Period.  The Stock Option becomes exercisable as set forth above, subject to the Participant’s continued employment with Tupperware or its Subsidiaries through the applicable Vesting Date.  Any portion of the Stock Option which becomes exercisable continues to be exercisable, until exercised, during the Option Term, except as stated below.  No delays in the exercise of an Option beyond the Option Term are permissible.  The Option Term means the period which begins on the Grant Date and ends on the date the Option Term expires, except as may otherwise be set forth in this Agreement. 

3.  Exercise Procedure.  To exercise the Stock Option, the Participant shall deliver a notice to Tupperware via its agent at UBS Financial Services, Inc. (“UBS”), specifying the number of shares to be purchased, and shall deliver payment in full, or make arrangements satisfactory to Tupperware for payment in full of the Option Price for such shares and for the satisfaction of any tax withholding required to be effected by Tupperware as described in Section 6 below.  Tupperware shall make available to the Participant a form or electronic process that may be used for this purpose.  The date of exercise shall be the date on which such notice and payment, or arrangements satisfactory to Tupperware for payment and tax withholding are received by Tupperware or its agent.  The Participant may exercise the Stock Option on the web by logging onto www.ubs.com/onesource/tup or by calling 1-888-661-2834 in the United States or +1(201)272-7571 when outside of the United States.

Exhibit 10.9
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

4.  Payment of the Option Price.   As provided under Section 6.4(d) of the Plan, payment of the Option Price for the number of shares to be purchased shall be made: (i) in cash (including a check, bank draft, money order or wire transfer); (ii) if the Participant is a United States resident, by delivery of an attestation of share ownership confirming that unrestricted shares of Common Stock having a fair market value at least equal to the Option Price for the shares to be purchased are already owned by the Participant of the same class as the shares subject to the Stock Option (based on the Fair Market Value of the Shares on the date the Stock Option is exercised);  (iii) by written instruction to Tupperware or its agent to affect a “net exercise” arrangement pursuant to which Tupperware retains from the Stock Option exercise a whole number of Shares with a Fair Market Value that does not exceed the aggregate Option Price, along with delivery of cash (as defined in clause (i) above) representing the remainder of the Option Price not covered by the retention of the whole number of shares; (iv) by way of a “cashless” exercise by delivering a properly executed exercise notice to Tupperware, together with a copy of irrevocable instruments to Tupperware’s designated broker to deliver to Tupperware an amount of the sale proceeds to pay the Option Price; or (v) by any combination of the above.  

5.  Delivery of Common Stock.  Upon any exercise of the Stock Option, and subject to the payment of the Option Price under Section 4 of this Agreement and of all Tax-Related Items under Section 6 of this Agreement, Tupperware shall deliver the Shares purchased in book entry form.  The Shares shall be registered in the name of the Participant.  If the Participant dies, the shares shall be registered in the name of the person entitled to exercise the Stock Option in accordance with the Plan.  Tupperware reserves the right, depending upon the regulatory circumstances existing in any particular country, to require a “sell all, cashless exercise” of any Stock Option.

6.  Taxes.  The Participant acknowledges that, regardless of any action taken by Tupperware or, if different, the Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant or deemed by Tupperware or the Employer in its discretion to be an appropriate charge to the Participant even if legally applicable to Tupperware or the Employer (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount, if any, actually withheld by Tupperware or the Employer. The Participant further acknowledges that Tupperware and/or the Employer: (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Stock Option, including, but not limited to, the grant, vesting or exercise of the Stock Option, the subsequent sale of Shares acquired upon exercise and the receipt of any dividends following the exercise of the Stock Option; and (2) do not commit to and are under no obligation to structure the terms of the Stock Option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result.  Further, if the Participant is subject to Tax-Related Items in more than one jurisdiction, the Participant acknowledges that Tupperware and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.  Prior to any relevant taxable or tax withholding event, as applicable, the Participant agrees to make adequate arrangements satisfactory to Tupperware and/or the Employer to satisfy all Tax-Related Items.  In this regard, the Participant authorizes Tupperware and/or the Employer, or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following: (a) withholding from the Participant’s wages or other cash compensation paid to the Participant by Tupperware and/or the Employer; or (b) withholding from proceeds of the sale of Shares acquired upon exercise of the Stock Option either through a voluntary sale or through a mandatory sale arranged by Tupperware (on the Participant’s behalf pursuant to this authorization without further consent); or (c) withholding in Shares to be issued upon exercise of the Stock Option, provided, however that if the Participant is a Section 16 officer of Tupperware under the Exchange Act, then Tupperware will withhold in Shares upon the relevant taxable or tax withholding event, as applicable, unless the use of such withholding method is problematic under applicable tax or securities law or has materially adverse accounting consequences, in which case, the obligation for Tax-Related Items may be satisfied by one or a combination of methods (a) and (b) above.  Depending on the withholding method, Tupperware may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case the Participant may receive a refund of any over-withheld amount in cash and will have no entitlement to the share equivalent.  If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, the Participant is deemed to have been issued the full number of shares subject to the exercised Stock Option, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items.  Finally, the Participant agrees to pay to Tupperware or the Employer any amount of Tax-Related Items that Tupperware and/or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described.  Tupperware may refuse to honor the exercise and refuse to deliver the Shares or the proceeds of the sale of shares, if the Participant fails to comply with the Participant’s obligations in connection with the Tax-Related Items.

Exhibit 10.9
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

7.  Impact of Certain Events.  Upon the Participant’s death, Disability, retirement or termination, or upon a Change of Control, the Participant shall have such modified rights of vesting and exercisability as set forth below:

(a) Death: If the Participant’s employment terminates by reason of death, the Stock Option shall become immediately and fully exercisable and may thereafter be exercised by the estate of the Participant for a period of three years from the date of such death; provided, however, that if the Participant is at least sixty years of age at the time of death and has fifteen years service with Tupperware, the Stock Option may thereafter be exercised by the estate of the Participant for a period of six years from the date of such death.  In no event, however, may the Stock Option be exercisable beyond the end of the Option Term.  Notwithstanding any provision herein to the contrary, if the Participant dies after termination of the Participant’s employment, the Stock Option may thereafter be exercised, to the extent the Stock Option was exercisable as of the date of such death, for a period that expires on the earliest of (i) the first anniversary of the date of such death, (ii) the last date on which the Participant would have been entitled to exercise the Stock Option had the Participant not died or (iii) the end of the Option Term; provided, however, that if the Participant had retired from Tupperware prior to the date of death, the estate of the Participant shall continue to have the benefit of the vesting and exercisability benefits specified by the provisions governing retirement as set forth below.

(b)  Disability:  If the Participant’s employment terminates by reason of Disability, the Stock Option, if not fully vested and exercisable as of the date of such termination, shall continue to vest according to the Stock Option’s stated vesting schedule and may thereafter be exercised by the Participant, to the extent it was exercisable at the time of termination or thereafter becomes exercisable, for a period of three years from the date of such termination of employment or until the end of the Option Term, whichever period is the shorter; provided, however, that if the Participant dies within such period, the Stock Option shall continue to be exercisable to the extent to which it was exercisable at the time of death for the remainder of such period, or for a period of 12 months from the date of such death, or until the expiration of the Option Term, whichever period is the shortest.  

(c)  Retirement:  If the Participant’s employment terminates by reason of retirement, the following vesting and exercisability terms will apply. The Participant shall be deemed to have terminated employment by reason of retirement if the Participant has attained age and years of service requirements set forth below, has given due notice (as determined by the Committee), and has entered into an agreement, the form and content of which shall be specified by the Committee, not to compete with Tupperware and its Affiliates for a period of one year following such retirement. In no event, however, may the Stock Option be exercisable after the end of the Option Term. 

	
				
	Age at Retirement
	Minimum Years of
Service with
        Company         
	Years of Continued
Vesting Following 
        Retirement      
	Years of Continued Exercisability
Following Retirement

	55 or more.....................
	10
	1
	2

	60 or more.....................
	15
	6
	6

Notwithstanding the foregoing, if the Participant dies within such period of continued exercisability, the Stock Option shall continue to be exercisable to the extent to which it was exercisable at the time of death for the remainder of such period, or for a period of 12 months from the date of such death, or until the end of the Option Term, whichever period is the shortest.

Notwithstanding anything to the contrary herein, if Tupperware receives an opinion of counsel that there has been a legal judgment and/or legal development in the Participant’s country that likely would result in any favorable treatment of the Stock Option at retirement under the Plan or this Agreement being deemed unlawful or discriminatory, such favorable treatment shall not apply and the Stock Option shall be treated as set forth in the remaining provisions of this Agreement.

(d)  Termination for Cause:  Unless otherwise determined by the Committee, if the Participant incurs a termination of employment for Cause, the Stock Option, whether vested or unvested, shall thereupon terminate. 

(e)  Change of Control Termination:  If a Change of Control occurs in which the Stock Option is substituted by the Successor and the Participant’s employment is terminated within two years following a Change of Control (i) by the Successor (or an affiliate thereof) without Cause or (ii) if the Participant is an executive officer of Tupperware (who is subject to reporting under Section 16 of the Exchange Act) and resigns for Good Reason, then the Stock Option shall become immediately vested and shall be exercisable through the end of the Option Term.   If the Stock Option is not substituted by the Successor upon a Change of Control, then the Stock Option shall be governed by Section 15.2 of the Plan.  

Exhibit 10.9
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

(f)  Other Termination:  If the Participant incurs a voluntary termination of employment, the Stock Option, to the extent then exercisable, may be exercised for the lesser of thirty days from the date of such termination of employment or until the end of the Option Term.  If the Participant incurs a termination of employment by Tupperware, other than by reason of retirement, Disability or Cause, the Stock Option, to the extent it is then exercisable, or becomes exercisable during the one-year period following termination of employment by Tupperware, may be exercised at any time from the date of vesting until the first anniversary of the date of such termination of employment or, if sooner, the end of the Option Term; provided, however, that if the Participant dies within such period of post-termination exercisability, the Stock Option shall continue to be exercisable to the extent to which it was exercisable at the time of death for the remainder of such period, or for a period of 12 months from the date of such death, or until the expiration of the Option Term, whichever period is the shortest. 
 
8.  Data Transfer and Privacy.  In order for Tupperware to administer this Plan, the Participant must provide Tupperware with personal data to identify the Participant, including the Participant’s name and address.  The personal data will be transferred to Tupperware’s United States headquarters in Orlando, Florida, and processed there.  Tupperware may transfer the personal data to an outside vendor (such as a bank) for further processing.  By acceptance of the Stock Option, the Participant explicitly consents to this collection, transfer and processing, as necessary for operation of this Plan.  During each of these steps, Tupperware treats personal data with care to ensure its privacy and ensure that any outside vendors do the same.  For European Union residents, the data is treated in accordance with Tupperware’s European Union Data Transfer Policy.  The Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of his or her personal data as described in this Agreement and any other grant materials by and among, as applicable, the Employer, and Tupperware and its subsidiaries and affiliates, for the exclusive purpose of implementing, administering and managing the Participant’s participation in the Plan.  The Participant understands that Tupperware and the Employer may hold certain personal information about the Participant, including, but not limited to, the Participant’s name, home address and telephone number, email address, date of birth, social insurance number (to the extent permitted under applicable law), passport or other identification number (e.g., resident registration number), salary, nationality, job title, any Shares or directorships held in Tupperware, details of all Stock Options or any other entitlement to Shares or equivalent benefits awarded, canceled, exercised, vested, unvested, purchased or outstanding in the Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan.  The Participant understands that Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan (such as UBS Financial Services, Inc. (“UBS”)), that these recipients may be located in the Participant’s country or elsewhere, and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than the Participant’s country.  The Participant understands that if the Participant resides outside the United States, he or she may request a list with the names and addresses of any potential recipients of Data by contacting the Participant’s local human resources representative.  The Participant authorizes those receiving Data, including UBS or other possible recipients which may assist Tupperware (presently or in the future) with implementing, administering and managing the Plan, to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purpose of implementing, administering and managing Participant’s participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom Participant may elect to deposit any Shares acquired upon exercise of the Stock Option.  The Participant understands that Data will be held only as long as is necessary to implement, administer and manage the Participant’s participation in the Plan.  The Participant understands that if the Participant resides outside the United States, he or she may, at any time, view Data, request information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting the Participant’s local human resources representative.  Further, the Participant understands that he or she is providing the consents herein on a purely voluntary basis. If the Participant does not consent, or if the Participant later seeks to revoke his or her consent, his or her employment or service with the Employer will not be affected; the only consequence of refusing or withdrawing the Participant’s consent is that Tupperware would not be able to grant the Participant Stock Options or other equity awards or administer or maintain such awards.  Therefore, the Participant understands that refusing or withdrawing his or her consent may affect the Participant’s ability to participate in the Plan.  For more information on the consequences of Participant’s refusal to consent or withdrawal of consent, Participant understands that he or she may contact his or her local human resources representative.

Exhibit 10.9
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

9. Recovery of Award.  In the event it is determined that Tupperware’s previously reported financial results have been misstated due to the error, omission, fraud or other misconduct of an employee of Tupperware or any of its subsidiaries (“Employee Actions”), including a misstatement that leads to a restatement of previously issued financial statements, any previous delivery of Shares or grant of Stock Options of Tupperware which was made pursuant to any incentive compensation award, including any discretionary award, shall be subject to recovery and/or cancellation by Tupperware as the Compensation and Management Development Committee (the “Committee”) of the Board of Directors of Tupperware, in its sole discretion, shall in good faith determine.  The Committee shall determine: (i) the amount to be recovered and/or cancelled; (ii) whether to seek repayment from a Participant or to reduce an amount otherwise payable to a Participant under any compensation plan, program or arrangement maintained by Tupperware, including the use of set off, subject to applicable law; (iii) the valuation of any Shares determined to be withheld from a Participant in connection with such an action; and (iv) whether to cancel outstanding Stock Options in connection with such an action and the valuation thereof for such purpose.  The foregoing shall be subject to such changes as may be required from time to time by the NYSE listing manual or the applicable rules of the United States Securities and Exchange Commission.

10. Nature of Grant.  In accepting the grant, the Participant acknowledges, understands and agrees that:

(a)the Plan is established voluntarily by Tupperware, it is discretionary in nature and it may be modified, amended, suspended or terminated by Tupperware at any time to the extent permitted by the Plan;
(b)the grant of the Stock Option is exceptional, discretionary, voluntary and occasional and does not create any contractual or other right to receive future grants of options, or benefits in lieu of options, even if options have been granted in the past; 
(c)all decisions with respect to future option grants, if any, will be at the sole discretion of Tupperware; 
(d)the Stock Option grant and the Participant’s participation in the Plan will not create a right to employment with or be interpreted as forming an employment or service contract with Tupperware, the Employer or any other subsidiary or affiliate of Tupperware and shall not interfere with the ability of Tupperware, the Employer or any other subsidiary or affiliate or Tupperware, as applicable, to terminate the Participant’s employment or service relationship (if any);
(e)the Participant is voluntarily participating in the Plan; 
(f)the Stock Option and any Shares acquired under the Plan, and the income from and value of same, are not intended to replace any pension rights or compensation;
(g)the Stock Option and any Shares acquired under the Plan and the income from and value of same, are not part of normal or expected compensation or salary for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, holiday pay, bonuses, long-service awards, pension or retirement or welfare benefits or similar mandatory payments; 
(h)unless otherwise agreed with Tupperware, the Stock Option and any Shares acquired under the Plan, and the income from and value of same, are not granted as consideration for, or in connection with, the service that the Participant may provide as a director of a subsidiary or affiliate of Tupperware;
(i)the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with certainty; 
(j)if the underlying Shares do not increase in value, the Stock Option will have no value; 
(k)if the Participant exercises his or her Stock Option and obtains Shares, the value of those Shares acquired upon exercise may increase or decrease in value, even below the Option Price; and
(l)no claim or entitlement to compensation or damages shall arise from forfeiture of the Stock Option or the recovery of Shares or cash acquired pursuant to the Stock Option resulting from the termination of the Participant’s employment or other service relationship (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where the Participant is employed or the terms of his or her employment agreement, if any), and/or the application of any recovery policy as described in Section 9 hereof; 

Exhibit 10.9
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

(m)for purposes of the Stock Option, the Participant’s employment or service relationship will be considered terminated as of the date the Participant is no longer actively providing services to Tupperware or one of its subsidiaries or affiliates (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where the Participant is employed or the terms of the Participant’s employment agreement, if any), and unless otherwise expressly provided in this Agreement or determined by Tupperware in accordance with the terms of the Plan, (i) the Participant’s right to vest in the Stock Option under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., the Participant’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where the Participant is employed or the terms of the Participant’s employment agreement, if any);  and (ii) the period (if any) during which the Participant may exercise the Stock Option after such termination of the Participant’s employment or service relationship will commence on the date the Participant cease to actively provide services and will not be extended by any notice period mandated under employment laws in the jurisdiction where the Participant is employed or terms of the Participant’s employment agreement, if any; the Committee shall have the exclusive discretion to determine when the Participant is no longer actively providing services for purposes of his or her Stock Option grant (including whether the Participant may still be considered to be providing services while on a leave of absence, including a period of “garden leave”); 
(n)unless otherwise provided in the Plan or by Tupperware in its discretion, the Stock Option and the benefits evidenced by this Agreement do not create any entitlement to have the Stock Option or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the Shares; and
(o)the following provisions apply only if the Participant is providing services outside the United States:
(1)the Stock Option and the underlying Shares, and the income from and value of same, are not part of normal or expected compensation or salary for any purpose; and
(2)the Participant acknowledges and agrees that neither Tupperware, nor the Employer nor any subsidiary or affiliate of Tupperware shall be liable for any foreign exchange rate fluctuation between the Participant’s local currency and the United States Dollar that may affect the value of the Stock Option or of any amounts due to the Participant pursuant to the exercise of the Stock Option or the subsequent sale of any Shares acquired upon exercise.

11.  Protecting the Interests of Tupperware.  During the Participant’s employment, and for a period of 12 months following employment, the Participant agrees not to (i) divulge information related to the operation of the business,  (ii) seek or accept employment from a Competitor (defined for purposes of this provision as any other business or enterprise which is engaged in the sales of products or services similar to those of Tupperware or is engaged in the direct sales of products or services to the consuming public, or primarily to the business’ own sales force members), (iii) solicit, directly or indirectly, any actively employed employee (including persons who have been employees of Tupperware or its subsidiaries or affiliates during the 12 months immediately before and after termination of the Participant) of Tupperware or its subsidiaries or affiliates, (iv) solicit, directly or indirectly, any member of the independent sales force of Tupperware or its subsidiaries or affiliates to become an employee or independent sales force member of a Competitor, or (v) copy or counterfeit, or assist another person in copying or counterfeiting, any Tupperware Brands product. The Participant agrees to return immediately following termination of employment, any and all documents and/or hardware or software items provided by Tupperware or its subsidiaries or affiliates for the purpose of completing tasks associated with performing his or her role. Finally, the Participant acknowledges that Tupperware participates in a business that is highly competitive, and that acceptance of these terms is reasonable in light of the award of potential compensation, whether received or not, under this program. In addition to any equitable remedies that Tupperware may have with regard to this provision, a breach of this paragraph shall result in an immediate forfeiture of the Participant’s rights under this Stock Option.  The foregoing notwithstanding, nothing in this Agreement prohibits the Participant from (a) reporting possible violations of federal law or regulation to any governmental agency or entity, including but not limited to the Department of Justice, the Securities and Exchange Commission, Congress, and any agency Inspector General, (b) making other disclosures that are protected under the whistleblower provisions of federal law or regulation, or (c) applying for or receiving any monetary award from a whistleblower award program of any governmental agency or entity with respect to the furnishing of information to a governmental agency or entity.

12.  Violation of Terms and Recoupment.  Any violation of the terms of Section 11 or default under any associated agreement shall result in an automatic termination and forfeiture of the underlying Stock Option, and may lead Tupperware to take action to recoup damages caused by such violation.

Exhibit 10.9
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

13.  No Advice Regarding Grant.  Tupperware is not providing any tax, legal or financial advice, nor is Tupperware making any recommendations regarding the Participant’s participation in the Plan, or the Participant’s acquisition or sale of the underlying Shares. Participant should consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan. The Participant shall rely solely on such advisors and not on any statements or representations of Tupperware or any of its agents.

14.  Governing Law and Venue.  The Stock Option grant and the provisions of this Agreement are governed by, and subject to, the laws of the State of Delaware, as provided in the Plan.  For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this Stock Option or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of the State of Delaware, agree that such litigation shall be conducted exclusively in the courts of Delaware, or the federal courts for the United States located in Delaware.

15.  Electronic Delivery and Acceptance.   Tupperware may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by Tupperware or another third party designated by Tupperware.

16.  Severability.  The provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

17.  Notices.  All notices hereunder to Tupperware shall be delivered or mailed to the Corporate Secretary of Tupperware at its headquarters office.  All notices hereunder to the Participant shall be delivered personally or mailed to the Participant’s address as indicated on his or her online UBS account, unless the Participant notifies Tupperware in writing of a change of address at hrorl@tupperware.com.

18.  Language.  If the Participant has received this Agreement or any other document related to the Plan translated into a language other than English and if the meaning of translated version is different from the English version, the English version shall control.

19.    Insider Trading Restrictions/Market Abuse Laws.  The Participant acknowledges that the Participant may be subject to insider trading restrictions and/or market abuse laws in applicable jurisdictions, including the United States and the Participant’s country (if different), which may affect his or her ability to acquire or sell Shares or rights to Shares (e.g., the Stock Option) under the Plan during such times as the Participant is considered to have “inside information” regarding Tupperware (as defined by the laws in the applicable jurisdictions, including the United States and the Participant’s country of residence).  Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Tupperware insider trading policy.  The Participant is responsible for ensuring compliance with any applicable restrictions and should consult his or her personal legal advisor on this matter.  For the avoidance of doubt, under the terms of this Agreement, the Stock Option may not be sold, assigned, transferred, pledged or otherwise encumbered, except as provided in Section 7(a) of this Agreement in the event of the Participant’s death.

20.  Foreign Asset/Account Reporting; Exchange Control.  The Participant’s country may have certain foreign asset and/or account reporting requirements and/or exchange controls which may affect the Participant’s ability to acquire or hold Shares under the Plan or cash received from participating in the Plan (including from any dividends received or sale proceeds arising from the sale of Shares) in a brokerage or bank account outside the Participant’s country.  The Participant may be required to report such accounts, assets or transactions to the tax or other authorities in his or her country.  The Participant also may be required to repatriate sale proceeds or other funds received as a result of the Participant’s participation in the Plan to his or her country through a designated bank or broker and/or within a certain time after receipt.  The Participant acknowledges that it is his or her responsibility to be compliant with such regulations, and the Participant should consult his or her personal legal advisor for any details.

21.  Appendix.  Notwithstanding any provisions in this Agreement, the Stock Option shall be subject to any special terms and conditions set forth in any Appendix to this Agreement for the Participant’s country.  Moreover, if the Participant relocates to one of the countries included in the Appendix, the special terms and conditions for such country shall apply to the Participant, to the extent that Tupperware determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons.  The Appendix constitutes part of this Agreement.

Exhibit 10.9
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

22.  Imposition of Other Requirements. Tupperware reserves the right to impose other requirements on the Participant’s participation in the Plan, on the Stock Option and on any Shares purchased upon exercise of the Stock Option, to the extent Tupperware determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

23.  Compliance with Law.  Notwithstanding any other provision of the Plan or this Agreement, unless there is an available exemption from any registration, qualification or other legal requirement applicable to the Shares, Tupperware shall not be required to deliver any Shares issuable upon exercise of the Stock Option prior to the completion of any registration or qualification of the Shares under any local, state, federal or foreign securities or exchange control law or under rulings or regulations of the United States Securities and Exchange Commission or of any other governmental regulatory body, or prior to obtaining any approval or other clearance from any local, state, federal or foreign governmental agency, which registration, qualification or approval Tupperware shall, in its absolute discretion, deem necessary or advisable.  The Participant understands that Tupperware is under no obligation to register or qualify the Shares with the United States Securities and Exchange Commission or any state or foreign securities commission or to seek approval or clearance from any governmental authority for the issuance or sale of the Shares.  Further, Tupperware shall have unilateral authority to amend the Plan and the Agreement without the Participant’s consent to the extent necessary to comply with securities or other laws applicable to issuance of Shares.

24.  Waiver. The Participant acknowledges that a waiver by Tupperware of breach of any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or any subsequent breach by the Participant or any other participant.

The parties confirm this Agreement effective as of the Grant Date and have executed it on the date it was accepted online.

Tupperware Brands Corporation         
Thomas M. Roehlk            
Executive Vice President,            
Chief Legal Officer and Secretary 

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

TERMS AND CONDITIONS

This Appendix includes additional terms and conditions that govern the Stock Option granted under the Plan if the Participant is or becomes subject to the laws of any of the countries listed below.  Certain capitalized terms used but not defined herein shall have the meanings ascribed to them in the Plan and/or the applicable Non-Qualified Stock Option Grant Agreement (the “Agreement”).

NOTIFICATIONS

This Appendix also contains notifications relating to exchange control and certain other issues of which the Participant should be aware with respect to his or her participation in the Plan.  The information is based on the exchange control, securities or other laws or regulations in effect in the countries listed in this Appendix as of October 2016.  Such laws are often complex and change frequently.  Because the information may be outdated when the Participant vests in the Stock Option, exercises the Stock Option and acquires Shares or when the Participant subsequently sells shares acquired under the Plan, Tupperware strongly recommends that the Participant not rely on the notifications provided in this Appendix as the only source of information relating to the participation in the Plan.

In addition, the notifications are general in nature and may not apply to the Participant’s particular situation, and Tupperware is not in a position to assure the Participant of any particular result.  Accordingly, the Participant should seek appropriate professional advice as to how relevant laws in the Participant’s country may apply to the Participant’s particular situation.  Finally, if the Participant is a citizen or resident of a country other than the one in which he or she is currently working and/or residing, is considered a resident of another country for local law purposes or transfers employment and/or moves to a different country after the Grant Date, the information contained in this Appendix may not be applicable to the Participant and Tupperware shall, in its sole discretion, determined to what extent the terms and conditions or notifications contained herein shall be applicable to the Participant.

BRAZIL

TERMS AND CONDITIONS

Compliance with Law.  In accepting the Stock Option, the Participant acknowledges his or her agreement to comply with all applicable Brazilian laws and to report and pay any and all applicable tax associated with the Stock Option, the receipt of any dividends and the sale of the Shares acquired under the Plan.

Nature of Grant.  The following provision supplements Section 10 of the Agreement:

The Participant agrees that, for all legal purposes, (a) the benefits provided to the Participant under the Plan are the result of commercial transactions unrelated to the Participant’s employment; (b) the Plan is not a part of the terms and conditions of the Participant’s employment; and (c) the income from the Stock Option or shares of Stock acquired under the Plan, if any, is not part of the Participant’s remuneration from employment.

By accepting the Stock Option, the Participant further agrees that (i) he or she is making an investment decision, (ii) the Stock Option will become exercisable only if the vesting conditions are met and any necessary services are rendered by the Participant over the vesting period and (iii) the value of the underlying Shares is not fixed and may increase or decrease in value over the vesting period without compensation to the Participant.

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

NOTIFICATIONS

Foreign Asset/Account Reporting Information.  If the Participant holds assets and rights outside Brazil with an aggregate value equal to or in excess of US$100,000, he or she will be required to prepare and submit to the Central Bank of Brazil an annual declaration of such assets and rights, including: (i) bank deposits; (ii) loans; (iii) financing transactions; (iv) leases; (v) direct investments; (vi) portfolio investments, including Shares acquired under the Plan; (vii) financial derivatives investments; and (viii) other investments, including real estate and other assets.  Please note that foreign individuals holding Brazilian visas are considered Brazilian residents for purposes of this reporting requirement and must declare at least the assets held abroad that were acquired subsequent to the date of admittance as a resident of Brazil.  Individuals holding assets and rights outside Brazil valued at less than US$100,000 are not required to submit a declaration.  Please note that the US$100,000 threshold may be changed annually.

Tax on Financial Transactions (IOF).  Payments to foreign countries (including the payment of the aggregate Option Price) and repatriation of funds into Brazil and the conversion of BRL to USD associated with such fund transfers may be subject to the Tax on Financial Transactions (IOF).  It is the Participant’s responsibility to comply with any applicable Tax on Financial Transactions arising from participation in the Plan.

FRANCE

TERMS AND CONDITIONS

Language Consent.  The following provision supplements Section 18 of the Agreement:

By accepting the Agreement, the Participant confirms that he or she has read and understood the documents relating to the Stock Option (i.e., the Plan and the Agreement, including this Appendix), which were provided in the English language.  The Participant accepts the terms of these documents accordingly.

Consentement relatif à la langue utilisée.  En signant et en renvoyant les Termes de l’Attribution, le Bénéficiaire confirme qu’il ou qu’elle a lu et compris les documents afférents aux l’Option (i.e., le Plan et les Termes de l’Attribution, ainsi que la présente Annexe) qui ont été communiqués en langue anglaise. Le Bénéficiaire accepte les termes de ces documents en connaissance de cause. 

NOTIFICATIONS

Tax Information.  The Stock Option is not intended to be a tax-qualified Stock Option.

Foreign Asset/Account Reporting Information.  All shares of Stock held outside of France and any foreign bank and brokerage accounts (including any accounts that were opened or closed during the tax year) must be reported on an annual basis on form No. 3916, together with the personal income tax return.  Failure to complete this reporting may trigger penalties.  Additional monthly reporting obligations may apply to foreign account balances exceeding €1,000,000.

GERMANY

NOTIFICATIONS

Exchange Control Information.  Cross-border payments in excess of €12,500 must be reported monthly to the Deutsche Bundesbank (the German Central Bank).  The Participant is responsible for complying with the reporting obligation and should file the report electronically by the fifth day of the month following the month in which the payment is made.  A copy of the form can be accessed via the Deutsche Bundesbank’s website at www.bundesbank.de and is available in both German and English.  However, if the Participant uses a German commercial bank to effectuate such cross-border payment, such bank will make the report on the Participant’s behalf. 

In the unlikely event that the Participant holds Shares representing 10% or more of the total capital or voting rights of Tupperware, he or she must report his or her holdings in Tupperware on an annual basis.

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

GREECE

NOTIFICATIONS

Exchange Control Information.  In order to remit funds out of Greece to exercise the Stock Option by way of a cash exercise, the Participant may need to complete an application form with the foreign exchange bank handling the transaction.  If the Stock Option is exercised by way of a cashless method of exercise, this application is not required, as no funds are remitted out of Greece.

INDIA

TERMS AND CONDITIONS

Payment of the Option Price.  This provisions supplements Section 4 of the Agreement:

Due to exchange control restrictions in India, payment of the Option Price may not be made by a cashless sell-to-cover exercise, whereby the Participant delivers a properly executed notice together with irrevocable instructions to a broker to sell some (but not all) of the Shares subject to the exercised portion of the Stock Option and deliver promptly to Tupperware the amount of sale proceeds to pay the Option Price (and any Tax-Related Items).  However, payment of the Option Price may be made by any other method of payment set forth in the Agreement.  Further, Tupperware reserves the right to provide the Participant with additional methods of payment depending upon the development of local law.

NOTIFICATIONS

Exchange Control Information.  Exchange control laws and regulations in India require that all proceeds resulting from the sale of Shares and any dividends received in relation to the Stock Option or the Shares must be repatriated to India and converted into local currency within 90 days of the sale of Shares and within 180 days from the receipt of any dividends.  Indian residents must obtain a foreign inward remittance certificate (“FIRC”) from the bank into which foreign currency is deposited and retain the FIRC as evidence of the repatriation of funds in the event that the Reserve Bank of India or the Employer requests proof of repatriation.

Foreign Asset/Account Reporting Information. Foreign bank accounts and any foreign financial assets (including Shares held outside India) must be reported in the annual Indian ‘personal tax return.  It is the Participant’s responsibility to comply with this reporting obligation and the Participant should consult his or her personal advisor in this regard as significant penalties may apply in the case of non-compliance with foreign asset/account reporting requirements and because such requirements may change.

INDONESIA

TERMS AND CONDITIONS

Payment of the Option Price.  This provisions supplements Section 4 of the Agreement:

To facilitate compliance with securities laws in Indonesia, payment of the Option Price must be made by delivery of a properly executed notice together with irrevocable instructions to a broker to sell all of the Shares subject to the exercised portion of the Stock Option and deliver promptly to Tupperware the amount of sale proceeds to pay the Option Price (and any Tax-Related Items).  No other methods of payment will be permitted in Indonesia.  However, Tupperware reserves the right to provide the Participant with additional methods of payment depending upon the development of local law.

NOTIFICATIONS

Exchange Control Information.  Indonesian residents must provide the Indonesian central bank, Bank Indonesia, with information on foreign exchange activities.  The filing should be completed online through Bank Indonesia’s website no later than the 15th day of the following month.  This is a new requirement and further implementing regulations may be issued by Bank Indonesia detailing how the reporting should be completed.

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

In addition, for foreign currency transactions, there is a statistical reporting requirement when the Indonesian Bank is receiving Rupiah or foreign currency (e.g., proceeds from the sale of Shares acquired under the Plan, dividends).  For the purpose of submitting the report to Bank Indonesia, the Indonesian bank executing the transaction will request information and/or supporting documents from the Participant and he or she must provide the requested information and/or supporting documents to the bank.

JAPAN

NOTIFICATIONS

Exchange Control Information.  Japanese residents purchasing Shares valued at more than ¥100,000,000 in a single transaction must file a Securities Acquisition Report with the Ministry of Finance through the Bank of Japan within 20 days of purchasing the shares.

In addition, a Japanese-resident Participant paying more than ¥30,000,000 in a single transaction for the purchase of Shares when he or she exercises the Stock Option must file a Payment Report with the Ministry of Finance through the Bank of Japan by the 20th day of the month following the month in which the payment was made.  The precise reporting requirements vary depending on whether the relevant payment is made through a bank in Japan.

A Payment Report is required independently of a Securities Acquisition Report.  Therefore, if the total amount paid in a one-time transaction to exercise the Stock Option and purchase Shares exceeds ¥100,000,000, both a Payment Report and a Securities Acquisition Report must be filed.

Foreign Asset/Account Reporting Information.  Details of assets held outside Japan (e.g., Shares) with a total value exceeding ¥50,000,000 (as of December 31 each year) must be reported annually to the tax authorities.  The report will be due March 15 of the following year.  The Participant should consult with his or her personal tax advisor in Japan to ensure compliance with these obligations.

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

MALAYSIA

TERMS AND CONDITIONS

Data Transfer and Privacy.  The following provision replaces Section 6 of the Agreement:

	
		
	The Participant hereby explicitly, voluntarily and unambiguously consents to the collection, use and transfer, in electronic or other form, of his or her personal data as described in this Appendix and any other grant materials by and among, as applicable, the Employer, Tupperware (or any subsidiary or affiliate) and any third parties authorised by the same in assisting in the implementation, administration and management of the Participant’s participation in the Plan. 
	Peserta dengan ini secara eksplisit, sukarela dan tanpa sebarang keraguan mengizinkan pengumpulan, penggunaan dan pemindahan, dalam bentuk elektronik atau lain-lain, data peribadinya seperti yang diterangkan dalam Lampiran  dan apa-apa bahan geran oleh dan di antara, seperti mana yang terpakai, Majikan, Tupperware (atau anak syarikat atau syarikat sekutu) dan mana-mana pihak ketiga yang diberi kuasa oleh yang sama dalam membantu dalam pelaksanaan, pentadbiran dan pengurusan penyertaan Peserta dalam Pelan.

	The Participant understands that Tupperware and the Employer may hold certain personal information about the Participant, including, but not limited to, the Participant’s name, home address and telephone number, email address, date of birth, social insurance number (to the extent permitted under Malaysian law), passport or other identification number, salary, nationality, job title, any Shares or directorships held in Tupperware, the fact and conditions of the Participant’s participation in the Plan, details of all options or equivalent benefits and any other entitlement to Shares awarded, cancelled, exercised, vested, unvested, purchased or outstanding in the Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan. The source of Data is the Participant’s Employer as well as information which the Participant is providing to Tupperware and the Employer in connection with the Plan including this Appendix.
	Peserta memahami bahawa Tupperware dan Majikan mungkin memegang maklumat peribadi tertentu tentang Peserta, termasuk, tetapi tidak terhad kepada, nama Peserta, alamat rumah dan nombor telefon, alamat emel,  tarikh lahir, nombor insurans sosial (setakat yang dibenarkan bawah undang-undang Malaysia) atau nombor pengenalan lain, gaji, kewarganegaraan, jawatan, apa-apa Saham atau jawatan pengarah yang dipegang dalam Tupperware, fakta dan syarat-syarat mengenai penyertaan Peserta dalam Pelan, butir-butir tentang semua opsyen atau manfaaat yang bersamaan dan apa-apa hak lain untuk Saham yang dianugerahkan, dibatalkan, dilaksanakan, terletak hak, tidak diletak hak, dibeli ataupun yang belum dijelaskan bagi faedah Peserta (“Data”), untuk tujuan ekslusif bagi melaksanakan, mentadbir dan menguruskan Pelan tersebut.  Sumber Data adalah daripada Majikan Peserta dan juga maklumat dimana Peserta menyediakan kepada Tupperware dan Majikan berhubung dengan Pelan tersebut termasuk Lampiran ini.  

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

	
		
	The Participant also authorizes any transfer of Data, as may be required, to UBS or such other stock plan service provider as may be selected by Tupperware in the future, which is assisting Tupperware with the implementation, administration and management of the Plan and/or with whom any Shares acquired upon exercise of the Stock Option are deposited.  The Participant acknowledges that these recipients may be located in the Participant’s country or elsewhere, and that the recipient’s country (e.g., the United States) may have different data privacy laws and protections than the Participant’s country, which may not give the same level of protection to Data.  The Participant understands that the Participant may request a list with the names and addresses of any potential recipients of Data by contacting the Participant’s local human resources representative. The Participant authorizes Tupperware, UBS and any other possible recipients which may assist Tupperware (presently or in the future) with implementing, administering and managing the Participant’s participation in the Plan to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purpose of implementing, administering and managing the Participant’s participation in the Plan, including any requisite transfer of such Data as may be required to UBS or other third party with whom the Participant may elect to deposit any Shares acquired upon exercise of the Stock Option. The Participant understands that Data will be held only as long as is necessary to implement, administer and manage the Participant’s participation in the Plan. The Participant understands that he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case, without cost, by contacting the Participant’s local human resources representative, whose contact details are Kathy Chong, Senior HR Executive, Tupperware Malaysia, No. 6 Jalan SS 13/4, Subang Jaya Industrial Estate, 47500 Subang Jaya, Selangor, Malaysia.  Further, the Participant understands that he or she is providing the consents herein on a purely voluntary basis.  If the Participant does not consent, or if the Participant later seeks to revoke consent, the Participant’s employment or service with Tupperware and/or the Employer will not be affected; the only consequence of refusing or withdrawing consent is that Tupperware would not be able to grant future Stock Options or other equity awards to the Participant or administer or maintain such awards.  Therefore, the Participant understands that refusing or withdrawing consent may affect the Participant’s ability to participate in the Plan. For more information on the consequences of the Participant’s refusal to consent or withdrawal of consent, the Participant understands that he or she may contact his or her local human resources representative. 

	Peserta juga memberi kuasa mengenai apa-apa pemindahan Data, yang mungkin diperlukan, kepada UBS atau pembekal perkhidmatan pelan saham yang mungkin dipilih oleh Tupperware pada masa depan, yang membantu Tupperware dengan pelaksanaan, pentadbiran dan pengurusan Pelan dan/atau dengan siapa sahaja Saham yang diperolehi semasa pelaksanaan Opsyen Saham  didepositkan.  Peserta mengakui  bahawa penerima-penerima ini mungkin berada di negara Peserta atau mana-mana tempat lain, dan bahawa negara penerima (contohnya di AmerikaSyarikat) mungkin mempunyai undang-undang privasi data dan perlindungan yang berbeza berbanding dengan negara Peserta, yang mungkin tidak memberi tahap perlindungan Data yang sama.  Peserta memahami bahawa Peserta boleh meminta satu senarai yang mengandungi nama dan alamat penerima-penerima Data yang berpotensi dengan menghubungi wakil sumber manusia tempatan Peserta.  Peserta memberi kuasa kepada Tupperware, UBS, dan mana-mana penerima-penerima lain yang mungkin membantu Tupperware (pada masa sekarang atau pada masa depan) dengan melaksanakan, mentadbir dan mengurus penyertaan Peserta dalam Pelan untuk menerima, memiliki, menggunakan, mengekalkan dan memindahkan Data, dalam bentuk elektronik atau lain-lain, semata-mata dengan tujuan untuk melaksanakan, mentadbir dan menguruskan penyertaan Peserta dalam Pelan, termasuk apa-apa pemindahan data yang diperlukan kepada UBS atau pihak ketiga yang lain dengan sesiapa yang Peserta pilih untuk deposit apa-apa Saham yang diperolehi  selepas pelaksanaan Opsyen Saham.  Peserta memahami bahawa Data hanya akan disimpan untuk tempoh yang perlu bagi melaksanakan, mentadbir dan menguruskan penyertaan Peserta dalam Pelan.  Peserta memahami bahawa dia boleh, pada bila-bila masa, melihat Data, meminta maklumat tambahan mengenai penyimpanan dan pemprosesan Data, meminta bahawa pindaan-pindaan dilaksanakan ke atas Data atau menolak atau menarik balik persetujuan dalam ini, dalam mana-mana kes, tanpa kos, dengan menghubungi wakil sumber manusia tempatan Peserta, dimana butir-butir hubungan adalah Kathy Chong, Senior HR Executive, Tupperware Malaysia, No. 6 Jalan SS 13/4, Subang Jaya Industrial Estate, 47500 Subang Jaya, Selangor, Malaysia. Selanjutnya, Peserta memahami bahawa dia telah memberikan persetujuan di sini secara sukarela.  Jika Peserta tidak bersetuju, atau jika Peserta kemudian membatalkan persetujuan, pekerjaan atau perkhidmatan Peserta dengan Tupperware dan / atau Majikan tidak akan terjejas; satu-satu akibatnya jika tidak bersetuju atau menarik balik persetujuan adalah bahawa Tupperware tidak akan dapat memberikan Opsyen Saham atau anugerah ekuiti yang lain kepada Peserta pada masa hadapan atau mentadbir atau mengekalkan anugerah tersebut.  Oleh itu, Peserta memahami bahawa keengganan atau penarikan balik persetujuan boleh menjejaskan keupayaan Peserta untuk mengambil bahagian dalam Pelan. Untuk maklumat lanjut mengenai akibat keengganan Peserta untuk memberikan persetujuan atau penarikan balik persetujuan, Peserta memahami bahawa dia boleh menghubungi wakil sumber manusia tempatannya.

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

NOTIFICATIONS

Director Notification Obligation.  If the Participant is a director of Tupperware’s Malaysian subsidiary or affiliate, the Participant is subject to certain notification requirements under the Malaysian Companies Act.  Among these requirements is an obligation to notify the Malaysian subsidiary or affiliate in writing when the Participant receives or disposes of an interest (e.g., an Award under the Plan or Shares) in Tupperware or any related company.  Such notifications must be made within 14 days of receiving or disposing of any interest in Tupperware or any related company.

MEXICO

TERMS AND CONDITIONS

Nature of Grant.  The following provisions supplement Section 10 of the Agreement:

Acknowledgement of the Grant.  In accepting the Stock Option, the Participant acknowledges that the Participant has received a copy of the Plan and the Agreement, including this Appendix, has reviewed the Plan and the Agreement, including this Appendix, in their entirety and fully understands and accepts all provisions of the Plan and the Agreement, including this Appendix.  The Participant further acknowledges that the Participant has read and specifically and expressly approves the terms and conditions of Section 10 of the Agreement, in which the following is clearly described and established:
 
(1)     The Participant’s participation in the Plan does not constitute an acquired right. 

		
	(2) 
	The Plan and the Participant’s participation in the Plan are offered by Tupperware on a wholly discretionary basis. 

(3)     The Participant’s participation in the Plan is voluntary. 

		
	(4)
	Neither Tupperware nor any subsidiary or affiliate of Tupperware is responsible for any decrease in the value of the Stock Option granted and/or Shares issued under the Plan.

Labor Law Acknowledgment and Policy Statement.  In accepting the Stock Option, the Participant expressly recognizes that Tupperware, with registered offices at 14901 S. Orange Blossom Trail, Orlando, Florida, 32837, U.S.A., is solely responsible for the administration of the Plan and that the Participant’s participation in the Plan and purchase of Shares does not constitute an employment relationship between the Participant and Tupperware since the Participant is participating in the Plan on a wholly commercial basis and the Participant’s sole employer is either Tupperware Brands Mexico, S. de R.L. de C.V. (“Tupperware Brands Mexico”), Dart, S.A. de C.V. (“Tupperware-Mexico”) or House of Fuller Holdings S. de R.L. de C.V. (“Fuller-Mexico”).  Based on the foregoing, the Participant expressly recognizes that the Plan and the benefits that the Participant may derive from participation in the Plan do not establish any rights between the Participant and the Employer, Tupperware Brands Mexico, Tupperware-Mexico or Fuller Mexico, and do not form part of the conditions of the Participant’s employment and/or benefits provided by Tupperware Brands Mexico, Tupperware-Mexico or Fuller-Mexico and any modification of the Plan or its termination shall not constitute a change or impairment of the terms and conditions of the Participant’s employment.

The Participant further understands that his or her participation in the Plan is as a result of a unilateral and discretionary decision of Tupperware; therefore, Tupperware reserves the absolute right to amend and/or discontinue the Participant’s participation in the Plan at any time, without any liability to the Participant.

Finally, the Participant hereby declares that the Participant does not reserve to himself or herself any action or right to bring any claim against Tupperware for any compensation or damages regarding any provision of the Plan or the benefits derived under the Plan, and the Participant therefore grants a full and broad release to Tupperware, its shareholders, officers, agents, legal representatives, and affiliates with respect to any claim that may arise.

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

Spanish Translation

TÉRMINOS Y CONDICIONES 

Naturaleza del Otorgamiento: Las siguientes disposiciones complementan el Artículo 10 del Acuerdo:

Reconocimiento del Otorgamiento.  Al aceptar las Opciones de Acciones, el Participante reconoce que ha recibido una copia del Plan y del Acuerdo, incluyendo este Apéndice, ha revisado el Plan y el Acuerdo, incluyendo este Apéndice en su totalidad y plenamente comprende y acepta todas las disposiciones previstas en el Plan y el Acuerdo, incluyendo este Apéndice.  Asimismo, el Participante reconoce que ha leído y específicamente y expresamente aprueba los términos y condiciones establecidos en la Sección 10 del Acuerdo, en el cual claramente se describe y establece lo siguiente:

(1)    La participación del Participante en el Plan no constituye un derecho adquirido. 

		
	(2) 
	El Plan y la participación del Participante en dicho Plan se ofrecen por la Tupperware de forma completamente discrecional. 

(3)     La participación del Participante en el Plan es voluntaria. 
    
(4)    Ni Tupperware ni sus subsidiarias o afiliadas son responsables por una reducción del valor de las Opciones de Acciones y/o Acciones emitidas bajo el Plan.

Reconocimiento de la Legislación Laboral y Declaración de la Política.  Al aceptar el otorgamiento de las Opciones de Acciones, el Participante expresamente reconoce que Tupperware, con domicilio ubicado en 14901 S. Orange Blossom Trail, Orlando, Florida, 32837, U.S.A., es el único responsable de la administración del Plan y que la participación del Participante en el Plan y compra de Acciones no constituye una relación de trabajo entre el Participante y Tupperware, toda vez que la participación del Participante en el Plan es de carácter comercial y el único patrón del Beneficiario es Tupperware Brands Mexico, S. de R.L. de C.V. (“Tupperware Brands México”), Dart, S.A. de C.V. (“Tupperware-México”) o House of Fuller S. de R.L. de C.V. (“Fuller-Mexico”).  Derivado de lo anterior, el Participante expresamente reconoce que el Plan y los beneficios que el Participante obtenga por la participación en el Plan no establecen derecho alguno entre el Participante y el Patrón, Tupperware Brands Mexico, Tupperware-México o Fuller Mexico, y no forman parte de las condiciones de los servicios del Participante y/o beneficios otorgados por Tupperware Brands Mexico, Tupperware-México o Fuller-Mexico y cualquier modificación del Plan o su terminación no constituyen un cambio o impedimento de los términos y condiciones del servicio del Participante.

Asimismo, el Participante reconoce que su participación en el Plan es el resultado de una decisión unilateral y discrecional por parte de Tupperware, por lo que, Tupperware se reserva el derecho absoluto de modificar y/o dar por terminada la participación del Participante en el Plan en cualquier momento, sin responsabilidad alguna hacia el Participante

Finalmente, el Participante manifiesta que no se reserva acción o derecho alguno que ejercitar en contra de Tupperware por cualquier daño o perjuicio con respecto a las disposiciones del Plan o los beneficios establecidos en el mismo, por lo que, el Participante otorga el finiquito más amplio que en derecho proceda a Tupperware, sus accionistas, funcionarios, agentes, representantes legales y afiliados en relación a cualquier demanda que pudiera surgir.

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

SINGAPORE

Terms and Conditions
Restriction on Sale of Shares.  To the extent the Stock Option vests within six months of the Date of Grant, the Participant may not dispose of the Shares issued at exercise of the Stock Option, or otherwise offer the Shares to the public, prior to the six-month anniversary of the Date of Grant, unless such sale or offer is made pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the Securities and Futures Act (Chap. 289, 2006 Ed.) (“SFA”).
Notifications
Securities Law Information.  The Stock Option is being granted to the Participant pursuant to the “Qualifying Person” exemption under section 273(1)(f) of the SFA and is not made with a view to the Stock Option or underlying Shares being subsequently offered for sale to any other party.  The Plan has not been lodged or registered as a prospectus with the Monetary Authority of Singapore.
Chief Executive Officer and Director Notification Obligation.  If the Participant is the Chief Executive Officer (“CEO”) or a director, associate director or shadow director of Tupperware or a Singapore subsidiary or affiliate of Tupperware, the Participant is subject to certain notification requirements under the Singapore Companies Act.  Among these requirements is an obligation to notify Tupperware or the Singaporean subsidiary or affiliate in writing when the Participant receives an interest (e.g., a Stock Option, Shares) in Tupperware or any related companies.  Please contact Tupperware to obtain a copy of the notification form.  In addition, the Participant must notify Tupperware or the Singapore subsidiary or affiliate when the Participant sells Shares of Tupperware or any related corporation (including when the Participant sell Shares acquired under the Plan).  These notifications must be made within two business days of acquiring or disposing of any interest in Tupperware or any related corporation.  In addition, a notification must be made of the Participant’s interests in Tupperware or any related corporation within two business days of becoming the CEO or a director.
SOUTH AFRICA

TERMS AND CONDITIONS

Taxes.  The following provision supplements Section 6 of the Agreement:

By accepting the Stock Option, the Participant agrees that, immediately upon exercise and settlement of the Stock Option, the Participant will notify the Employer of the amount of any gain realized at exercise.  If the Participant fails to advise the Employer of the gain realized, the Participant may be liable for a fine.  The Participant will be solely responsible for paying any difference between the actual liability for Tax-Related Items and the amount withheld.

Tax Clearance Certificate for Cash Exercises.  If the Participant exercises the Stock Option by a cash exercise, the Participant must obtain and provide to his or her Employer, or any third party designated by his or her Employer or Tupperware, a Tax Clearance Certificate (with respect to Foreign Investments) bearing the official stamp and signature of the Exchange Control Department of the South African Revenue Service (“SARS”).  The Participant must renew this Tax Clearance Certificate every twelve months, or in such other period as may be required by the SARS.  If the Participant exercises the Stock Option by a cashless exercise whereby no funds are remitted offshore for the purchase of Shares, no Tax Clearance Certificate is required.

Deemed Acceptance of Stock Option.  Pursuant to Section 96 of Companies Act 71 of 2008 (the “Companies Act”), the Stock Option offer must be finalized within six  months following the date the offer is communicated to the Participant.  If the Participant does not want to accept the Stock Option, the Participant is required to decline the Stock Option no later than six months following the date the offer is communicated to the Participant.  If the Participant does not reject the Stock Option within six months following the date the offer is communicated to the Participant, the Participant will be deemed to accept the Stock Option.

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

NOTIFICATIONS

Securities Notification.  Neither the Stock Options nor the underlying Shares shall be publicly offered or listed on any stock exchange in South Africa.  The offer is intended to be private pursuant to Section 96 of the Companies Act and is not subject to the supervision of any South African governmental authority.

Exchange Control Information.  Under current South African exchange control policy, if the Participant is a South African resident, the Participant may invest a maximum of ZAR11,000,000 per annum in offshore investments, including in Shares. The first ZAR1,000,000 annual discretionary allowance requires no prior authorization.  The next ZAR10,000,000 requires tax clearance.  This limit does not apply to non-resident employees.  It is the Participant’s responsibility to ensure that he or she does not exceed this limit and obtains the necessary tax clearance for remittances exceeding ZAR1,000,000.  This limit is a cumulative allowance; therefore, the Participant’s ability to remit funds for a cash exercise will be reduced if the Participant’s foreign investment limit is utilized to make a transfer of funds offshore that is unrelated to the Plan.  If the ZAR10,000,000 limit will be exceeded as a result of an exercise, the Participant may still participate in the Plan and exercise his or her Stock Option, however he or she will be required to immediately sell the Shares acquired at exercise and repatriate the proceeds to South Africa.  If the ZAR10,000,000 limit is not exceeded, the Participant will not be required to immediately repatriate the sale proceeds to South Africa.

Because exchange control regulations are subject to frequent change, sometimes without notice, the Participant should consult his or her personal legal advisor prior to the exercise of the Stock Option to ensure compliance with current regulations.  The Participant is solely responsible for ensuring compliance with all exchange control laws in South Africa.

SPAIN

TERMS AND CONDITIONS

Nature of Grant.  The following provision supplements Section 10 of the Agreement:

In accepting the Stock Option, the Participant acknowledges that he or she consents to participation in the Plan and has received a copy of the Plan.
The Participant understands and agrees that, as a condition of the grant of the Stock Option, except as provided for in Section 7 of the Agreement, the termination of the Participant’s employment for any reason (including for the reasons listed below) will automatically result in the cancellation and loss of any portion of the Stock Option that has not vested on the date of termination. 

In particular, the Participant understands and agrees that any unvested portion of the Stock Option will be cancelled without entitlement to the underlying Shares or to any amount as indemnification if the Participant’s employment is terminated prior to vesting by reason of, including, but not limited to: disability, resignation, retirement, disciplinary dismissal adjudged to be with cause, disciplinary dismissal adjudged or recognized to be without good cause (i.e., subject to a “despido improcedente”), individual or collective layoff on objective grounds, whether adjudged to be with cause or adjudged or recognized to be without cause, material modification of the terms of employment under Article 41 of the Workers’ Statute, relocation under Article 40 of the Workers’ Statute, Article 50 of the Workers’ Statute, unilateral withdrawal by the Employer, and under Article 10.3 of Royal Decree 1382/1985. 

Furthermore, the Participant understands that Tupperware has unilaterally, gratuitously and discretionally decided to grant Stock Options under the Plan to individuals who may be employees of Tupperware or any subsidiary or affiliate of Tupperware throughout the world.  The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind Tupperware or any subsidiary or affiliate of Tupperware on an ongoing basis.  Consequently, the Participant understands that the Stock Option is granted on the assumption and condition that the Stock Option and the Shares issued upon exercise of the Stock Option shall not become a part of any employment or other contract (with Tupperware, the Employer, or any subsidiary or affiliate of Tupperware) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. In addition, the Participant understands that the Stock Option would not be granted to the Participant but for the assumptions and conditions referred to above; thus, the Participant acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then any Stock Option grant shall be null and void. 

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

NOTIFICATIONS

Securities Law Notification. The Stock Option described in the Agreement (including this Appendix) does not qualify under Spanish regulations as a security.  No “offer of securities to the public,” as defined under Spanish law, has taken place or will take place in the Spanish territory.  The Agreement (including this Appendix) has not been nor will it be registered with the Comisión Nacional del Mercado de Valores, and it does not constitute a public offering prospectus.

Exchange Control Information.  The acquisition of Shares under the Plan must be declared for statistical purposes to the Spanish Dirección General de Comercio e Inversiones (the “DGCI”), the Bureau for Commerce and Investments, which is a department of the Ministry of Economy and Competiveness.  The Participant must also declare ownership of any Shares with the Directorate of Foreign Transactions each January while the Shares are owned.  In addition, the sale of any Shares must be declared on Form D-6 filed with the DGCI in January, unless the sale proceeds exceed the applicable threshold (currently €1,502,530), in which case, the filing is due within one month after the sale.

When receiving foreign currency payments derived from the ownership of Shares (i.e., sale proceeds), the Participant must inform the financial institution receiving the payment of the basis upon which such payment is made if the payment exceeds €50,000.  The Participant will need to provide the following information:  (i) the Participant’s name, address, and fiscal identification number; (ii) the name and corporate domicile of Tupperware; (iii) the amount of the payment and the currency used; (iv) the country of origin; (v) the reasons for the payment; and (vi) further information that may be required.

In addition, the Participant may be required to declare electronically to the Bank of Spain any foreign accounts (including brokerage accounts held abroad), any foreign instruments (including any Shares acquired under the Plan) and any transactions with non-Spanish residents (including any payments of Shares made to the Participant by Tupperware) depending on the value of such accounts and instruments and the amount of the transactions during the relevant year as of December 31 of the relevant year.

Foreign Asset/Account Reporting Information.  If the Participant holds rights or assets (e.g., Shares or cash held in a bank or brokerage account) outside of Spain with a value in excess of €50,000 per type of right or asset (e.g., Shares, cash, etc.) as of December 31 each year, the Participant is required to report certain information regarding such rights and assets on tax form 720.  After such rights and/or assets are initially reported, the reporting obligation will apply for subsequent years only if the value of any previously-reported rights or assets increases by more than €20,000 or if the ownership of the asset is transferred or relinquished during the year.  The reporting must be completed by the March 31 each year. 

SWITZERLAND

NOTIFICATIONS

Securities Law Notification.  The Stock Option is considered a private offering in Switzerland; therefore, it is not subject to registration in Switzerland.  Neither this document nor any other materials relating to the Stock Option (a) constitutes a prospectus as such term is understood pursuant to article 652a of the Swiss Code of Obligations, (b) may be publicly distributed or otherwise made publicly available in Switzerland or (c) has been or will be filed with, approved or supervised by any Swiss regulatory authority (in particular, the Swiss Financial Market Supervisory Authority (FINMA))..

TURKEY

TERMS AND CONDITIONS

Payment of the Option Price.  This provisions supplements Section 4 of the Agreement:

To facilitate compliance with exchange control laws in Turkey, Tupperware reserves the right to restrict the payment of the Option Price to a cashless-sell-all exercise or such other method of exercise Tupperware deems appropriate under local law.

Exhibit 10.9
APPENDIX OF SPECIAL TERMS AND CONDITIONS FOR
TUPPERWARE BRANDS CORPORATION
2016 INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

NOTIFICATIONS

Securities Law Information.  Stock Options are made available only to employees of Tupperware and its subsidiaries and affiliates, and the offer of participation in the Plan is a private offering.  Under Turkish law, the Participant is not permitted to sell Shares acquired under the Plan in Turkey.  The Shares are currently traded on the NYSE, which is located outside of Turkey, under the ticker symbol “TUP” and the shares may be sold through this exchange.

Exchange Control Information.  Under Turkish law, Turkish residents are permitted to purchase and sell securities or derivatives traded on exchanges abroad only through a financial intermediary licensed in Turkey.  Therefore, the Participant may be required to appoint a Turkish broker to assist with the exercise of the Stock Option or sale of the Shares acquired under the Plan.  The Participant should consult his or her personal legal advisor before exercising the Stock Option or selling any Shares acquired under the Plan to confirm the applicability of this requirement to the Participant.

UNITED STATES OF AMERICA

There are no country-specific provisions.Exhibit

ASSET PURCHASE AGREEMENT
THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is made as of February 23, 2017 between Emmis Publishing, L.P., an Indiana limited partnership (“Emmis”), Orange Coast Kommunications, Inc., a Delaware corporation (“OCK”) and Los Angeles Magazine Holding Company, Inc., an Indiana corporation (“LACo”), jointly and severally (Emmis, OCK and LACo are sometimes hereafter collectively the “Seller”) and the buyer set forth on the signature page hereto (“Buyer”).
Recitals
A.    Seller is engaged in the business of publishing the magazine(s) described on Schedule 1.1(a) attached hereto (such magazine(s)), each a “Publication” and, collectively, the “Publications” and such business, the “Business”).
B.    Pursuant to the terms and subject to the conditions set forth in this Agreement, Seller desires to sell to Buyer, and Buyer desires to purchase from Seller, the Publishing Assets (defined below).
Agreement
NOW, THEREFORE, taking the foregoing into account, and in consideration of the mutual covenants and agreements set forth herein, the parties, intending to be legally bound, hereby agree as follows:
ARTICLE 1:    PURCHASE OF ASSETS
1.1.    Publishing Assets.  On the terms and subject to the conditions hereof, at Closing (defined below), except as set forth in Section 1.2, Seller shall sell, assign, transfer, convey and deliver to Buyer, and Buyer shall purchase and acquire from Seller, all right, title and interest of Seller in and to all assets and properties of Seller that are used or held for use solely in the operation of the Business (the “Publishing Assets”), including the following:
(a)        all of Seller’s rights in and to the magazine(s) described on Schedule 1.1(a), all contracts and orders for advertising in the Publications, all back and current issues  thereof and any other inventories, all subscriptions, orders, requests for subscriptions for the Publications, all subscription, distribution, circulation, delivery and mailing lists for the Publications;
(b)    all of Seller’s equipment, vehicles, furniture, fixtures, and other tangible personal property that are used or held for use solely in the operation of the Business, including without limitation those listed on Schedule 1.1(b), except for any retirements or dispositions thereof made between the date hereof and Closing in the ordinary course of business (the “Tangible Personal Property”);
(c)    an assignment of Seller’s leasehold interest in the leases listed on Schedule 1.1(c) (the “Real Property”);

(d)    (i) all agreements for the sale of advertising in, and sales orders in process for, the Publications, (ii) the contracts and agreements  listed on Schedule 1.1(d), (iii) the Real Estate Leases (as defined herein) and (iv) each other contract made solely for the Business that does not involve obligations of the Business of more than $10,000 per contract (collectively, the “Contracts”);
(e)    all of Seller’s rights in and to the trademarks, trade names, service marks, internet domain names, copyrights, and other intangible property which are used or held for use solely in the operation of the Business, including without limitation those listed on Schedule 1.1(e) (the “Intangible Property”); 
(f)    all receivables of the Business and any other rights to payment of cash consideration for goods or services sold or provided prior to the Effective Time (defined below) or otherwise arising during or attributable to any period prior to the Effective Time (the “A/R” or “Accounts Receivable”);
(g)    all deposits, prepaid expenses and deferred expenses; 

(h)    Seller’s rights in and to all the files, documents, records, accounting records, customer lists, vendor lists and books of account (or copies thereof) relating to the operation of the Business, including any advertising studies, marketing and demographic data, lists of advertisers and credit and sales reports, including but not limited to, the books and records listed on Schedule 1.1(h), but excluding records relating to Excluded Assets (defined below); 
(i)    all books and records and other assets of the Publications in the New York sales office of the Seller including, but not limited to, all current and prospective client and agency contact information and salesperson reports in digital format, all as described on Schedule 1.1(i); and
(j)    all rights and claims of Seller, whether mature, contingent or otherwise, against third parties with respect to the Assumed Obligations (as defined herein) and, to the extent attributable to the period after Closing, the Intangible Property.
The Publishing Assets shall be transferred to Buyer free and clear of liens, claims and encumbrances (“Liens”) except for Assumed Obligations (defined below), liens for taxes not yet due and payable and liens that will be released at or prior to Closing (collectively, “Permitted Liens”).
1.2.    Excluded Assets.  Notwithstanding anything to the contrary contained herein, the Publishing Assets shall not include the following assets or any rights, title and interest therein (the “Excluded Assets”):
(a)    all cash and cash equivalents of Seller, including without limitation certificates of deposit, commercial paper, treasury bills, marketable securities, money market accounts and all such similar accounts or investments; 

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(b)    all tangible and intangible personal property of Seller retired or disposed of between the date of this Agreement and Closing in accordance with Article 4;
(c)    all Contracts that are terminated or expire prior to Closing in accordance with Article 4;
(d)    trade names unrelated to the operation of the Business, Seller’s corporate names, charter documents, and books and records relating to the organization, existence or ownership of Seller, duplicate copies of the records of the Business, and all records not relating to the operation of the Business;
(e)    all contracts of insurance, all coverages and proceeds thereunder and all rights in connection therewith, including without limitation rights arising from any refunds due with respect to insurance premium payments to the extent related to such insurance policies; 
(f)    all pension, profit sharing plans and trusts and the assets thereof and any other employee benefit plan or arrangement and the assets thereof, if any, maintained by Seller; 
(g)    any computer software and programs used in the operation of the Business that are not transferable;
(h)    all rights and claims of Seller, whether mature, contingent or otherwise, against third parties with respect to the Business or the Publishing Assets, to the extent arising during or attributable to any period prior to the Effective Time, except those with respect to the Assumed Obligations and, to the extent attributable to the period after Closing, the Intangible Property; 
(i)    all claims of Seller with respect to any tax refunds;
(j)    all computers and other assets located at Seller’s corporate headquarters, and the centralized server facility, data links, payroll system and other operating systems and related assets that are used in the operation of multiple business units provided, however, that the assets listed on Schedule 1.1(i), if any, are not within the definition of Excluded Assets;
(k)    all assets used in the business of publishing other magazines and publications;
(l)    the employment agreements of Seller with Erika Kemmerer and Mary Melton.

1.3.    Assumption of Obligations.  On the Closing Date (defined below), Buyer shall assume and agree to pay, perform and discharge only the following liabilities of the Seller (collectively, the “Assumed Obligations”):
(a)    the obligations of Seller arising, during, or attributable to, any period of time on or after the Closing Date under the Contracts;

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(b)    the obligations to fulfill subscriptions for the Publications paid in advance by subscribers; 
(c)    the following (collectively, the “Current Liabilities”): all accounts payable, accrued expenses, federal and state unemployment tax payable (FUTA and SUTA), accrued salaries (including payroll taxes), accrued incentive, payables for commissions (whether to individual salesperson or agencies), accrued vacation, accrued rent, payable for sales taxes, accrued property taxes and items of deferred income (each being line items on the schedule of current assets and liabilities calculation sheets for the 13 month period ending January 31, 2017 previously provided by Seller to Buyer, a copy of which is attached as Schedule 1.3(c)) of the Business as they exist as of 12:01 a.m. on the day of Closing (the “Effective Time”); and
(d)    the obligations described in Section 5.5.
1.4.    Retained Obligations.  Notwithstanding anything contained herein to the contrary, Buyer shall not assume and shall not be responsible to pay, perform or discharge any liabilities of Seller of any kind or nature whatsoever other than the Assumed Obligations (the “Retained Obligations”).  Seller shall pay and satisfy in due course all Retained Obligations.  Without limiting the generality of the foregoing, the Retained Obligations shall include, but not be limited to, the following:
(a)    any liabilities of Seller arising or incurred in connection with the negotiation, preparation, investigation and performance of this Agreement and the transactions contemplated hereby and thereby, including, without limitation, fees and expenses of counsel, accountants, investment bankers, consultants, advisers and others;
(b)    any liabilities of Seller for (i) except for Current Liabilities, any taxes of Seller relating to the Business, the Publishing Assets or the Retained Obligations; (ii) except as provided by Section 10.1, any taxes of Seller that arise out of the consummation of the transactions contemplated hereby; or (iii) except for Current Liabilities, any other taxes of Seller of any kind or description (including any liability for taxes of Seller that becomes a liability of Buyer under any common law doctrine of de facto merger or transferee or successor liability or otherwise by operation of contract or law);
(c)    any liabilities relating to or arising out of the Excluded Assets;
(d)    any liabilities in respect of any pending or threatened action arising out of, relating to or otherwise in respect of the operation of the Business or the Publishing Assets to the extent such action relates to such operation on or prior to the Closing Date;
(e)    except as provided by Section 5.5, any liabilities of Seller arising under or in connection with any benefit plan providing benefits to any present or former employee of Seller; 
(f)    any “Success & Retention Bonus” (the “Retention Bonus”) promised or owed to any employee of Seller under it’s “Publishing Transition Incentive Program”;

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(g)    any severance or other payment due any Excluded Employee (as defined herein); 
(h)    any liabilities under unfulfilled commitments, quotations, purchase orders, customer orders or work orders for the Business to the extent the rights of Seller are not made available to Buyer;
(i)    any liabilities under the Contracts to the extent the rights of Seller are not made available to Buyer;
(j)    any liabilities associated with debt, loans or credit facilities of Seller and/or the Business; 
(k)    any liabilities arising out of, in respect of or in connection with the failure by Seller to comply with any law or government order; and 
(l)    any pending or threatened litigation arising out of the Publishing Assets or the Business for all periods prior to the Effective Time. 
1.5    Purchase Price.  In consideration for the sale of the Publishing Assets to Buyer, at Closing Buyer shall pay Seller, by wire transfer of immediately available funds, the sum of Six Million Five Hundred Thousand Dollars ($6,500,000), subject to Section 1.6(b).
1.6.    Deposit; Escrow Funds.  
(a)On the date of this Agreement, Buyer shall make a cash deposit in immediately available funds in an amount equal to ten percent (10%) of the Purchase Price (the “Deposit”) with WashingtonFirst Bank (the “Escrow Agent”) pursuant to the Escrow Agreement (the “Escrow Agreement”) of even date herewith among Buyer, Seller and the Escrow Agent.  At Closing, the Deposit shall be retained in escrow for disbursement after Closing as provided by Section 1.6(b) below.  If this Agreement is terminated by Seller pursuant to Section 10.1(c), the Deposit and any interest accrued thereon shall be disbursed to Seller and credited as payment of liquidated damages under Section 10.5.  If this Agreement is terminated for any other reason, the Deposit and any interest accrued thereon shall be disbursed to Buyer.  The parties shall each instruct the Escrow Agent to disburse the Deposit and all interest thereon to the party entitled thereto and shall not, by any act or omission, delay or prevent any such disbursement.  Any failure by Buyer to make the Deposit on the date hereof constitutes a material default as to which the Cure Period under Article 10 does not apply entitling Seller to immediately terminate this Agreement.
(b)For a period of six (6) months after Closing the Deposit shall be held by the Escrow Agent to secure Seller’s post-Closing indemnification obligations under Article 9 of this Agreement.  If after Closing Buyer is entitled to a payment under Article 9 of this Agreement, then when such payment is due, unless otherwise paid by Seller, the parties shall give joint written instructions to the Escrow Agent to disburse the amount thereof from the Deposit to Buyer.  On the date six (6) months after the Closing Date the Deposit (less amounts previously disbursed if any) and any interest accrued thereon shall be disbursed to Seller; 

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provided, however, that, if an indemnification claim made by Buyer in good faith is then pending under this Agreement, then the reasonable amount of such claim shall continue to be held by the Escrow Agent until such claim is resolved upon which such balance shall be disbursed to the appropriate party or parties consistent with such resolution.
1.7.    Allocation.  After Closing, each of Buyer and Seller will allocate the Purchase Price in accordance with the respective fair market values of the Publishing Assets and the goodwill being purchased and sold in accordance with the requirements of Section 1060 of the Internal Revenue Code of 1986, as amended (the “Code”), and each will file its tax returns in accordance with the Code.  

1.8.    Closing.  The consummation of the sale and purchase of the Publishing Assets provided for in this Agreement (the “Closing”) shall take place on the date set forth on Exhibit A attached hereto (or on such other day as Buyer and Seller may mutually agree), subject to the satisfaction or waiver of the conditions set forth in Articles 6 or 7 below.  The date on which the Closing is to occur is referred to herein as the “Closing Date.”

1.9.      Net Working Capital.  If the Closing Date Balance Sheets (as defined below) show in the aggregate that the current assets thereon acquired by Buyer hereunder do not exceed the current liabilities thereon assumed by Buyer hereunder by One Million Dollars ($1,000,000) or more, then the amount of such deficiency shall be disbursed to Buyer within thirty (30) days of the Closing .
ARTICLE 2: SELLER REPRESENTATIONS AND WARRANTIES
Seller makes the following representations and warranties to Buyer:
2.1.    Organization.  Seller is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, and is qualified to do business in each jurisdiction in which the Publishing Assets are located.  Seller has the requisite power and authority to execute, deliver and perform this Agreement and all of the other agreements and instruments to be made by Seller pursuant hereto (collectively, the “Seller Ancillary Agreements”) and to consummate the transactions contemplated hereby.
2.2.    Authorization. The execution, delivery and performance of this Agreement and the Seller Ancillary Agreements by Seller have been duly authorized and approved by all necessary action of Seller and do not require any further authorization or consent of Seller.  This Agreement is, and each Seller Ancillary Agreement when made by Seller and the other parties thereto will be, a legal, valid and binding agreement of Seller enforceable in accordance with its terms, except in each case as such enforceability may be limited by bankruptcy, moratorium, insolvency, reorganization or other similar laws affecting or limiting the enforcement of creditors’ rights generally and except as such enforceability is subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).
2.3.    No Conflicts.  Except for consents to assign certain of the Contracts, the execution, delivery and performance by Seller of this Agreement and the Seller Ancillary 

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Agreements and the consummation by Seller of any of the transactions contemplated hereby does not conflict with any organizational documents of Seller or any agreement or instrument to which it is bound, or violate any law, judgment, order, or decree to which Seller is subject, or require the consent or approval of, or a filing by Seller with, any governmental or regulatory authority or any third party.
2.4.    Intentionally Omitted.  
2.5.    Taxes.  Seller has, in respect of the Business, filed all foreign, federal, state, county and local income, excise, property, sales, use, franchise and other tax returns and reports which are required to have been filed by it under applicable law, and has paid all taxes which have become due pursuant to such returns or pursuant to any assessments which have become payable.  With respect to the Business and the Publishing Assets, no tax deficiency has been assessed or to Seller’s knowledge proposed, and no tax proceeding or investigation (whether or not the statute of limitation has been waived) is pending or to Seller’s knowledge threatened that could reasonably be expected to result in liability to Buyer or a Lien upon any Publishing Assets.  
2.6.    Personal Property.  Schedule 1.1(b) contains a list of material items of Tangible Personal Property included in the Publishing Assets.  Except as set forth on Schedule 1.1(b), Seller has title to the Tangible Personal Property free and clear of Liens other than Permitted Liens.  Except as set forth on Schedule 1.1(b), all material items of Tangible Personal Property are in normal operating condition, ordinary wear and tear excepted.  
2.7.    Real Property.  There is no owned real property used solely in the operation of the Business.  Schedule 1.1(c) contains a description of each lease of Real Property or similar agreement included in the Publishing Assets (the “Real Property Leases”).  To Seller’s knowledge, the Real Property is not subject to any suit for condemnation or other taking by any public authority.  
2.8.    Contracts.  Each of the Contracts (including without limitation each of the Real Property Leases) is in effect and is binding upon Seller and, to Seller’s knowledge, the other parties thereto (subject to bankruptcy, insolvency, reorganization or other similar laws relating to or affecting the enforcement of creditors’ rights generally).  Seller has performed its obligations under each of the Contracts in all material respects, and is not in material default thereunder, and to Seller’s knowledge, no other party to any of the Contracts is in default thereunder in any material respect.  Seller has made available to Buyer copies of  Contracts with a cost to the Business in excess of $10,000, including without limitation those listed on Schedule 1.1(d), except as noted on such schedule and except for Contracts described in clause (i) of Section 1.1(d).
2.9.    Environmental.  Except as set forth in any environmental report delivered to Buyer, to Seller’s knowledge, no hazardous or toxic substance or waste regulated under any applicable environmental, health or safety law has been generated, stored, transported or released on, in, from or to the Real Property included in the Publishing Assets, and Seller has complied in all material respects with all environmental, health and safety laws applicable to the Business.   Seller has not received written notice of potential liability for non-compliance with applicable 

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environmental, health or safety laws with respect to the Real Property included in the Publishing Assets.
2.10.    Intangible Property.  Schedule 1.1(e) contains a description of the material Intangible Property included in the Publishing Assets.  To Seller’s knowledge, Seller’s use of the Intangible Property does not infringe upon any third party rights in any material respect, and Seller owns or has the right to use the Intangible Property free and clear of Liens other than Permitted Liens.  Except as may be set forth on Schedule 1.1(e), to Seller’s knowledge, no material Intangible Property is being infringed or misappropriated by any third party in any material respect, and no material Intangible Property is the subject of any pending or threatened claim of infringement of any third party’s patents, copyrights, or trademarks, and Seller has received no written notice alleging such infringement.
2.11.    Employees.  Seller has complied in all material respects with all labor and employment laws, rules and regulations applicable to the Business, including without limitation those which relate to prices, wages, hours, discrimination in employment and collective bargaining, and there is no unfair labor practice charge or complaint against Seller in respect of the Business pending or to Seller’s knowledge threatened before the National Labor Relations Board, any state labor relations board or any court or tribunal, and there is no strike, dispute, request for representation, slowdown or stoppage pending or threatened in respect of the Business.  Seller acknowledges that, subject to Section 5.5, Buyer intends to perform all work through employees to be selected by Buyer and employed under wages, hours, terms and conditions as set by Buyer, and subject to Section 5.5 and except for Current Liabilities, Buyer does not recognize and does not assume any obligations or liabilities of any kind, whether expressed or implied, between Seller and any current or former employee or any representative of Seller’s employees including, but not limited to any obligations or liabilities relating to continuation of employment, severance, disability, retirement or deferred compensation or benefits of any kind, or any obligations or liabilities under any other employment agreements or policies to which Seller is subject.  Seller further represents and warrants:
(i)    that there are no pending and Seller knows of no employment claims of any kind including, but not limited to, lawsuits, contractual claims, grievances, demands for arbitration, or administrative agency investigations or proceedings which in any way relate to or affect any location where assets covered by this Agreement are being sold;
(ii)    that Seller will give Transferred Employees (defined below) any notices required by applicable law;
(iii)    except as provided by Section 5.5, that Seller shall fulfill all legal obligations to current and former employees of Seller that arise from employment with Seller, and Seller acknowledges and agrees that, except as provided by Section 5.5, Buyer has no obligation or liability of any kind to any current or former employee of Seller which is based on or arises from Seller’s employment of such employees, the termination or cessation of such employment, or any agreement between Seller and any employee; and
(iv)    that Seller has not represented to Seller’s employees or employees’ representative any matter that is inconsistent with any provision of this contract.

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2.12.    Insurance.  Seller maintains insurance policies or other arrangements with respect to the Business and the Publishing Assets consistent with its practices for other business units, and will maintain such policies or arrangements until the Effective Time.
2.13.    Compliance with Law.  Seller has complied in all material respects with all laws, rules and regulations, and all decrees and orders of any court or governmental authority which are applicable to the operation of the Business, and to Seller’s knowledge, there are no governmental claims or investigations pending or threatened against Seller in respect of the Business except those affecting the industry generally.  
2.14.    Litigation.  There is no action, suit or proceeding pending or, to Seller’s knowledge, threatened against Seller in respect of the Business.  
2.15.    Financial Statements.  Seller has provided to Buyer copies of its statements of operations for the Business for the years ended February 28, 2015 and February 29, 2016 and the 11-month period ended January 31, 2017.  The full fiscal year statements contain information included in the audited consolidated financial statements of Seller and its affiliates (but such statements are not separately audited).  The partial fiscal year statements are neither separately audited nor included in the audited consolidated financial statements of Seller and its affiliates.  All such statements have been prepared in accordance with GAAP consistently applied and in the aggregate present fairly in all material respects the results of operations of the Business as operated by Seller for the respective periods covered thereby, except that (i) shared operating expenses (if applicable) are allocated among business units as determined by Seller, and (ii) such statements do not include income tax expense or benefit, interest income and expense, disclosures required by GAAP in notes accompanying the financial statements, retiree benefit expense (pension, health insurance, etc.), non-cash compensation expenses associated with equity compensation arrangements, certain revenues and expenses associated with operating the Business as a part of multiple business units, and expenses attributable to the adoption of accounting pronouncements.
2.16.    No Undisclosed Liabilities.  There are no liabilities or obligations of Seller with respect to the Business that will be binding upon Buyer after Closing other than the Assumed Obligations.
2.17.     Circulation.  Seller has provided or caused to be provided to Buyer circulation reports for the Publications for the period described on Exhibit A attached hereto.  Such reports fairly present the circulation of the Publications for such period in all material respects.  Seller has timely filed annual reports for the Publications with the Postmaster General of the United States of America pursuant to the requirements of 39 U.S.C. Section 3685, which are correct in all material respects. 
2.18.    Brokers.  No broker, finder or other person or entity is entitled to a commission, brokerage fee or other similar payment in connection with the transaction contemplated by this Agreement as a result of any agreement or action of Seller or any party acting on Seller’s behalf, except Moelis & Company, whose fee is the responsibility of Seller.

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2.19.    Accounts Receivable.  The Accounts Receivable (a) arose from bona fide transactions, (b) have been invoiced in the ordinary course of business.  After Closing, to the extent Seller receives payment on any Accounts Receivable that belongs to the Buyer, they will hold such payment in trust for the benefit of the Buyer and, if it inadvertently deposits the item representing payment of a Buyer’s Account Receivable into its bank account, it will, immediately upon discovery of such deposit, remit the amount of such deposit to the Buyer. 
2.20.    Absence of Certain Change, Events and Conditions.  Since November 30, 2016, except as resulting from or arising in connection with the sale by Seller and its affiliates of other publications (it being understood that Seller and its affiliates are in the process of selling all or substantially all of its publishing division), Seller has;
(a)    operated the Business in the ordinary course of business;
(b)    operated the Business in all material respects in accordance with all applicable laws, regulations, rules and orders; 
(c)    except in the ordinary course of business, not sold, leased or disposed of or agreed to sell, lease or dispose of any of the Publishing Assets unless replaced with similar items of substantially equal or greater value and utility, or create, assume or permit to exist any Liens upon the Publishing Assets, except for Permitted Liens; 
(d)    not entered into any employment, labor, or union agreement or plan (or amendments of any such existing agreements or plan) that will be binding upon Buyer after Closing;
(e)    except in the ordinary course of business, not entered into new Contracts or amended any existing Contracts;
(f)    not made any change in any method of accounting or accounting practice for the Business; 
(g)    not made any change in cash management practices and policies, practices and procedures with respect to collection of Accounts Receivable, establishment of reserves for uncollectible Accounts Receivable, accrual of Accounts Receivable, inventory control, prepayment of expenses, payment of trade accounts payable, accrual of other expenses, deferral of revenue and acceptance of customer deposits;
(h)    except in the ordinary course of business, not cancelled any debts or claims or amended, terminated or waived any rights constituting Publishing Assets;
(i)    not made any material capital expenditure which constitutes an Assumed Obligation;
(j)    with respect to Transferred Employees, except in the ordinary course of business, not granted any bonuses, whether monetary or otherwise, or increased any wages, salary, severance, pension or other compensation or benefits in respect of any current or former employees, officers, directors, independent contractors or consultants of the Business, other than 

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as provided for in any written agreements or required by applicable law, or (ii) changed the terms of employment for any employee of the Business or any termination of any employees for which the aggregate costs and expenses exceed $25,000; and 
(k)    not entered into any agreement to do any of the foregoing, or any action or omission that would result in any of the foregoing.
ARTICLE 3: BUYER REPRESENTATIONS AND WARRANTIES
Buyer hereby makes the following representations and warranties to Seller:
3.1.    Organization.  Buyer is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, and is qualified to do business in each jurisdiction in which the Publishing Assets are located.  Buyer has the requisite power and authority to execute, deliver and perform this Agreement and all of the other agreements and instruments to be executed and delivered by Buyer pursuant hereto (collectively, the “Buyer Ancillary Agreements”) and to consummate the transactions contemplated hereby.
3.2.    Authorization.  The execution, delivery and performance of this Agreement and the Buyer Ancillary Agreements by Buyer have been duly authorized and approved by all necessary action of Buyer and do not require any further authorization or consent of Buyer.  This Agreement is, and each Buyer Ancillary Agreement when made by Buyer and the other parties thereto will be, a legal, valid and binding agreement of Buyer enforceable in accordance with its terms, except in each case as such enforceability may be limited by bankruptcy, moratorium, insolvency, reorganization or other similar laws affecting or limiting the enforcement of creditors’ rights generally and except as such enforceability is subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).
3.3.    No Conflicts.  The execution, delivery and performance by Buyer of this Agreement and the Buyer Ancillary Agreements and the consummation by Buyer of any of the transactions contemplated hereby does not conflict with any organizational documents of Buyer or any agreement or instrument to which it is bound, or violate any law, judgment, order or decree to which Buyer is subject, or require the consent or approval of, or a filing by Buyer with, any governmental or regulatory authority or any third party.
3.4.    Litigation.  There is no action, suit or proceeding pending or threatened against Buyer which questions the legality or propriety of the transactions contemplated by this Agreement or could materially adversely affect the ability of Buyer to perform its obligations hereunder.
3.5.      Brokers.  No broker, finder or other person or entity is entitled to a commission, brokerage fee or other similar payment in connection with the transaction contemplated by this Agreement as a result of any agreement or action of Buyer or any party acting on Buyer’s behalf.
ARTICLE 4: SELLER COVENANTS 

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4.1.        Seller’s Covenants.  Between the date hereof and Closing, except as permitted by this Agreement or with the prior written consent of Buyer, which shall not be unreasonably withheld, delayed or conditioned, Seller shall:
(a)      operate the Business in the ordinary course of Business except for changes resulting from or arising in connection with the sale by Seller and its affiliates of other publications, it being understood that Seller and its affiliates are in the process of selling all or substantially all of its publishing division;
(b)        operate the Business in all material respects in accordance with all applicable laws, regulations, rules and orders; 
(c)        not other than in the ordinary course of business, sell, lease or dispose of or agree to sell, lease or dispose of any of the Publishing Assets unless replaced with similar items of substantially equal or greater value and utility, or create, assume or permit to exist any Liens upon the Publishing Assets, except for Permitted Liens; 
(d)         upon reasonable notice, give Buyer reasonable access during normal business hours to the Publishing Assets, and furnish Buyer with information relating to the Publishing Assets that Buyer may reasonably request, provided that such access rights shall not be exercised in a manner that interferes with the operation of the Business;
(e)    except in the ordinary course of business and as otherwise required by law, (i) not enter into any employment, labor, or union agreement or plan (or amendments of any such existing agreements or plan) that will be binding upon Buyer after Closing or (ii) increase the compensation payable to any employee of the Business, except for bonuses and other compensation payable by Seller in connection with the consummation of the transactions contemplated by this Agreement; and
(f)    not, other than in the ordinary course of business, enter into new Contracts or amend any existing Contracts.
4.2.    Transition.
(a)    Within thirty (30) days after Closing, Seller shall provide Buyer (i) a balance sheet for each Publication as of the Closing Date (the “Closing Date Balance Sheets”) and (ii) an income statement for each of the Publications for the period from February 1, 2017 to the Closing Date.  Such statements shall be prepared in accordance with GAAP consistently applied and shall present fairly in all material respects the operation of the Business as operated by the Seller for the periods covered thereby.  Each of the documents shall be certified by an authorized representative on behalf of the Seller.

(b)    For the period from Closing to April 30, 2017 or the date of transition to Buyer’s plan, whichever is earlier, Seller shall provide COBRA benefits for all Transferred Employees, provided, however, Buyer shall promptly reimburse Seller for the cost of such benefits, and Buyer shall use commercially reasonable best efforts to complete the transition of Transferred Employees to Buyer’s benefits plan by March 31.

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(c)    For a period of one hundred twenty (120) days after Closing, the parties shall cooperate in good faith as reasonably necessary to otherwise complete the transition of the Business and the transfer of the Publishing Assets and Assumed Obligations from Seller to Buyer as contemplated by this Agreement, provided, however, that neither party shall be obligated to incur costs to provide services to the other unless the requesting party agrees to promptly reimburse such costs.

(d)    For a period of 180 days after the Closing Date, Seller shall respond in good faith to any reasonable request by Buyer for information regarding the operation of the Publications and Business for all periods prior to the Effective Time.

(e)    For a period of 180 days after the Closing Date, Seller shall provide access to and make available for copying by Buyer any books and records of the Publications and the Business that may be in Seller’s possession.

(f)        In addition, for a period of no less than thirty (30) days after Closing, Seller (a) will not close or change lockbox numbers 78854, 78930, 101116, 101121 (collectively, the “Account”) at JPMorgan Chase, it’s lender (“Seller’s Lender”), where its Accounts Receivable have been deposited unless the Account has been transferred or otherwise assigned by JPMorgan Chase to Buyer, (b) shall provide to Buyer a daily report of activity in the Account regarding the collection of the Accounts Receivable, and (c) shall reimburse Buyer, on a daily basis, all of Buyer’s Accounts Receivable collected or received by Seller.
(g)        Buyer and Seller shall use commercially reasonable efforts to facilitate effectively the transfer of the Accounts Receivable and payables of the Business to Buyer, including but not limited to working to reroute the Accounts Receivable from the Seller’s existing accounts to a new account of Buyer at the Seller’s Lender.

ARTICLE 5:  JOINT COVENANTS
Buyer and Seller hereby covenant and agree as follows:
5.1.    Confidentiality.  Seller (or an affiliate of Seller on behalf of Seller) and Buyer (or an affiliate of Buyer on behalf of Buyer) are parties to a non-disclosure agreement with respect to Seller and the Business (the “NDA”).  To the extent not already a direct party thereto, Seller and Buyer hereby assume the NDA and agree to be bound by the provisions thereof.  Without limiting the terms of the NDA, subject to the requirements of applicable law, all non-public information regarding the parties and their business and properties that is disclosed in connection with the negotiation, preparation or performance of this Agreement shall be confidential and shall not be disclosed to any other person or entity, except in accordance with the terms of the NDA.  

5.2.    Announcements.  Prior to Closing, no party shall, without the prior written consent of the other, issue any press release or make any other public announcement concerning the transactions contemplated by this Agreement, except to the extent that such party is so 

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obligated by law, in which case such party shall give advance notice to the other.  The parties agree to mutually prepare a joint press release announcing the transactions contemplated by this Agreement.
5.3.    Risk of Loss.  
(a)    Seller shall bear the risk of any loss of or damage to any of the Publishing Assets at all times until the Effective Time, and Buyer shall bear the risk of any such loss or damage thereafter.  
(b)    If prior to the Effective Time any item of Tangible Personal Property is damaged or destroyed or otherwise not in the condition described in Section 2.6 in any material respect, then:
(i)  Seller shall use commercially reasonable efforts to repair or replace such item in all material respects in the ordinary course of business, 
(ii)  Seller’s representations and warranties, and Buyer’s pre-Closing termination rights and post-Closing indemnification rights, are hereby modified to take into account any such condition, and 
(iii)  if such repair or replacement is not completed prior to Closing, then as Buyer’s sole remedy, the parties shall proceed to Closing and Seller shall repair or replace such item in all material respects after Closing (and Buyer will provide Seller access and any other reasonable assistance requested by Seller with respect to such obligation).
5.4.    Consents.  
(a)    The parties shall use commercially reasonable efforts to obtain (i) any third party consents necessary for the assignment of any Contract (which shall not require any payment to any such third party), and (ii) execution of reasonable estoppel certificates by lessors under any Real Property Leases requiring consent to assignment (if any), but no such consents or estoppel certificates are conditions to Closing except for the Required Consents (defined below), if any.  Receipt of consent to assign to Buyer the Contracts designated with a diamond on Schedule 1.1(c) (if any) is a condition precedent to Buyer’s obligation to close under this Agreement (the “Required Consents”).
(b)    To the extent that any Contract may not be assigned without the consent of any third party, and such consent is not obtained prior to Closing, this Agreement and any assignment executed pursuant to this Agreement shall not constitute an assignment of such Contract; provided, however, with respect to each such Contract, Seller and Buyer shall cooperate to the extent feasible in effecting a lawful and commercially reasonable arrangement under which Buyer shall receive the benefits under the Contract from and after Closing, and to the extent of the benefits received, Buyer shall pay and perform Seller’s obligations arising under the Contract from and after Closing in accordance with its terms.  
5.5.    Employees.   

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(a)    Seller has provided Buyer a list showing employee positions and annualized pay rates for employees of the Business.  Buyer has provided Seller a list of the excluded employees as noted on Schedule 5.5 (the “Excluded Employees”).  Buyer shall offer employment to all persons employed exclusively in the Business immediately prior to Closing with the same salary and/or wages, job and location as with Seller and with benefits similar to Seller except the Excluded Employees.  With respect to each employee who accepts such offer (collectively, the “Transferred Employees”), at Closing employment with Seller shall terminate and employment with Buyer shall commence, and Buyer shall retain each such employee on such terms for a period of not less than ninety (90) days after Closing, unless terminated for cause.  With respect to any Transferred Employee that is terminated without cause within such ninety (90) day period, Buyer shall be responsible for payment of severance payments equal to the amount due them under the Enhanced Service Program component of the Seller’s Publishing Transaction Incentive Program Summary. 
(b)    With respect to Transferred Employees, Seller shall be responsible for all compensation and benefits arising prior to the Effective Time (including payment of any Retention Bonus), and Buyer shall be responsible for all compensation and benefits arising after the Effective Time.  
(c)    Buyer shall permit Transferred Employees (and their spouses and dependents) to participate in its “employee welfare benefit plans” (including without limitation health insurance plans) in which similarly situated employees are generally eligible to participate, with coverage effective immediately upon Closing (and without exclusion from coverage on account of any pre-existing condition), with service with Seller deemed service with the Buyer for purposes of any length of service requirements, waiting periods, vesting periods and differential benefits based on length of service, and with credit under any welfare benefit plan for any deductibles or co-payments paid for the current plan year under any plan maintained by Seller.
(d)    Buyer shall also permit each Transferred Employee who participates in the Seller’s 401(k) plan to elect to make direct rollovers of their account balances into the Buyer’s 401(k) plan as of Closing, including the direct rollover of any outstanding loan balances such that they will continue to make payments under the terms of such loans under the Buyer’s 401(k) plan, subject to compliance with applicable law and subject to the reasonable requirements of Buyer’s 401(k) plan.
5.6.    Accounting Services.  During the first fifteen (15) business days after Closing, Buyer shall make available to Seller, at no additional cost, access to the books and records of the Business, and the responsible employee(s) to consult with respect to such books and records, for the purposes of closing the books of the Business for the period prior to Closing.
ARTICLE 6: SELLER CLOSING CONDITIONS 

The obligation of Seller to consummate the Closing hereunder is subject to satisfaction, at or prior to Closing, of each of the following conditions (unless waived in writing by Seller):
6.1.    Representations and Covenants.  

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(a)    The representations and warranties of Buyer made in this Agreement, shall be true and correct in all material respects as of the Closing Date except for changes permitted or contemplated by the terms of this Agreement.
(b)    The covenants and agreements to be complied with and performed by Buyer at or prior to Closing shall have been complied with or performed in all material respects.  
(c)    Seller shall have received a certificate dated as of the Closing Date from Buyer executed by an authorized officer of Buyer to the effect that the conditions set forth in Sections 6.1(a) and (b) have been satisfied.
6.2.    Proceedings.  Neither Seller nor Buyer shall be subject to any court or governmental order or injunction restraining or prohibiting the consummation of the transactions contemplated hereby.
6.3.    Deliveries.  Buyer shall have complied with its obligations set forth in Section 8.2.
ARTICLE 7: BUYER CLOSING CONDITIONS 
The obligation of Buyer to consummate the Closing hereunder is subject to satisfaction, at or prior to Closing, of each of the following conditions (unless waived in writing by Buyer):
7.1.    Representations and Covenants.  
(a)    The representations and warranties of Seller made in this Agreement shall be true and correct in all material respects as of the Closing Date except for changes permitted or contemplated by the terms of this Agreement.
(b)    The covenants and agreements to be complied with and performed by Seller at or prior to Closing shall have been complied with or performed in all material respects.  
(c)    Buyer shall have received a certificate dated as of the Closing Date from Seller executed by an authorized officer of Seller to the effect that the conditions set forth in Sections 7.1(a) and (b) have been satisfied.
7.2.    Proceedings.  Neither Seller nor Buyer shall be subject to any court or governmental order or injunction restraining or prohibiting the consummation of the transactions contemplated hereby.
7.3.    Deliveries.  Seller shall have complied with its obligations set forth in Section 8.1.
7.4.    Consents.  The Required Consents (if any) shall have been obtained.
ARTICLE 8: CLOSING DELIVERIES
8.1.        Seller Documents.  At Closing, Seller shall deliver or cause to be delivered to Buyer:  

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(i)    good standing certificates issued by the Secretary of State of Seller’s jurisdiction of formation;
(ii)    certified copies of resolutions authorizing the execution, delivery and performance of this Agreement, including the consummation of the transactions contemplated hereby; 
(iii)    the certificate described in Section 7.1(c); 
(iv)    an assignment and assumption of contracts assigning the Contracts from Seller to Buyer;
(v)    an assignment and assumption of leases assigning the Real Property Leases (if any) from Seller to Buyer;
(vi)    an assignment of marks assigning the registered marks listed on Schedule 1.1(e) (if any) from Seller to Buyer;
(vii)    domain name transfers assigning the domain names listed on Schedule 1.1(e) (if any) from Seller to Buyer;
(viii)    endorsed vehicle titles conveying the vehicles included in the Tangible Personal Property (if any) from Seller to Buyer; 
(ix)    a bill of sale conveying the other Publishing Assets from Seller to Buyer; 
(x)    a letter generically addressed to customers of the Business authorizing (i) payment of the Accounts Receivable to the Buyer and (ii) all future payments under the Contracts to the Buyer;
(xi)    with respect to the Contracts for custom publishing only, a list of any such Contracts that, between November 30, 2016 and the Effective Time, (A) have been terminated or Seller has received a notice of termination that such Contracts will not be renewed and (B) that management of Seller has received a strong indication from its customer that such Contract will not be renewed; and
(xii)    with respect to the lien under the Credit Facility referenced on Schedule 1.1(b), a letter from the Administrative Agent for such facility in form customary for confirmations of such kind and in substance confirming that the lien on the Publishing Assets under such facility will be released upon Closing;
(xiii)    a certified resolution of Emmis Communications Corporation authorizing the execution, delivery and performance of its obligations as an additional indemnitor under the terms of this Agreement; and
(xiv)    any other instruments of conveyance, assignment and transfer that may be reasonably necessary to convey, transfer and assign the Publishing Assets from Seller to Buyer, free and clear of Liens, except for Permitted Liens.

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8.2.    Buyer Documents.  At Closing, Buyer shall deliver or cause to be delivered to Seller:  
(i)    the Purchase Price in accordance with Section 1.5 hereof;
(ii)    good standing certificates issued by the Secretary of State of Buyer’s jurisdiction of formation;
(iii)    certified copies of resolutions authorizing the execution, delivery and performance of this Agreement, including the consummation of the transactions contemplated hereby; 
(iv)    the certificate described in Section 6.1(c); 
(v)    an assignment and assumption of contracts assuming the Contracts;
(vi)    an assignment and assumption of leases assuming the Real Property Leases (if any);
(vii)    domain name transfers assuming the domain names listed on Schedule 1.1(e) (if any); 
(viii)    an assumption of the Current Liabilities; and
(ix)    such other documents and instruments of assumption that may be necessary to assume the Assumed Obligations.

ARTICLE 9:  SURVIVAL; INDEMNIFICATION

9.1.         Survival.  The representations and warranties in this Agreement shall survive Closing for a period of eighteen (18) months from the Closing Date whereupon they shall expire and be of no further force or effect, except that if within such period the indemnified party gives the indemnifying party written notice of a claim for breach thereof describing in reasonable detail the nature and basis of such claim, then such claim shall survive until the earlier of resolution of such claim or expiration of the applicable statute of limitations.  The covenants and agreements in this Agreement shall survive Closing until performed.
9.2.        Indemnification.
(a)        Subject to Section 9.2(b), from and after Closing, Seller shall defend, indemnify and hold harmless Buyer from and against any and all losses, costs, damages, liabilities and expenses, including reasonable attorneys’ fees and expenses (“Damages”) incurred by Buyer arising out of or resulting from:  
(i)      any breach by Seller of its representations and warranties made under this Agreement; or 

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(ii)  any default by Seller of any covenant or agreement made under this Agreement; or
(iii)  the Retained Obligations; 
(iv)  the operation of the Business before the Effective Time, except for the Assumed Obligations; or
(v)  any breach by Seller of any covenants or agreements made to Seller’s employees before the Effective Time, including, but not limited to, payment by Seller of the Retention Bonus;
(b)        Notwithstanding the foregoing or anything else herein to the contrary, after Closing, (i) Seller shall have no liability to Buyer under Section 9.2(a) until, and only to the extent that, Buyer’s aggregate Damages exceed $60,000, and (ii) the maximum liability of Seller under Section 9.2 shall be an amount equal to 50% of the Purchase Price.  
(c)        From and after Closing, Buyer shall defend, indemnify and hold harmless Seller from and against any and all Damages incurred by Seller arising out of or resulting from:
(i)  any breach by Buyer of its representations and warranties made under this Agreement; or 
(ii)  any default by Buyer of any covenant or agreement made under this Agreement; or 
(iii)  the Assumed Obligations; or
(iv)  the operation of the Business after the Effective Time.
9.3.    Procedures.  
(a)    The indemnified party shall give prompt written notice to the indemnifying party of any demand, suit, claim or assertion of liability by third parties that is subject to indemnification hereunder (a “Claim”), but a failure to give such notice or delaying such notice shall not affect the indemnified party’s rights or the indemnifying party’s obligations except to the extent the indemnifying party’s ability to remedy, contest, defend or settle with respect to such Claim is thereby prejudiced and provided that such notice is given within the time period described in Section 9.1.
(b)    The indemnifying party shall have the right to undertake the defense or opposition to such Claim with counsel selected by it.  In the event that the indemnifying party does not undertake such defense or opposition in a timely manner, the indemnified party may undertake the defense, opposition, compromise or settlement of such Claim with counsel selected by it at the indemnifying party’s cost (subject to the right of the indemnifying party to assume defense of or opposition to such Claim at any time prior to settlement, compromise or final determination thereof).

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(c)    Anything herein to the contrary notwithstanding: 
(i)  the indemnified party shall have the right, at its own cost and expense, to participate in the defense, opposition, compromise or settlement of the Claim; 
(ii)  the indemnifying party shall not, without the indemnified party’s written consent, settle or compromise any Claim or consent to entry of any judgment which does not include the giving by the claimant to the indemnified party of a release from all liability in respect of such Claim; and 
(iii)  in the event that the indemnifying party undertakes defense of or opposition to any Claim, the indemnified party, by counsel or other representative of its own choosing and at its sole cost and expense, shall have the right to consult with the indemnifying party and its counsel concerning such Claim and the indemnifying party and the indemnified party and their respective counsel shall cooperate in good faith with respect to such Claim.
(d)  After Closing, all claims for breach of representations or warranties under this Agreement shall be subject to the limitations set forth in Section 9.2(b).
ARTICLE 10: TERMINATION AND REMEDIES
10.1.      Termination.  Subject to Section 10.3, this Agreement may be terminated prior to Closing as follows:
(a)    by mutual written consent of Buyer and Seller; 
(b)    by written notice of Buyer to Seller if Seller breaches its representations or warranties or defaults in the performance of its covenants contained in this Agreement and such breach or default is material in the context of the transactions contemplated hereby and is not cured within the Cure Period (defined below);
(c)    by written notice of Seller to Buyer if Buyer breaches its representations or warranties or defaults in the performance of its covenants contained in this Agreement and such breach or default is material in the context of the transactions contemplated hereby and is not cured within the Cure Period; provided, however, that the Cure Period shall not apply to Buyer’s obligations to make the Deposit on the date hereof and to pay the Purchase Price at Closing; or
(d)    by written notice of Seller to Buyer or Buyer to Seller if Closing does not occur by the date set forth on Exhibit A attached hereto (the “Outside Date”).
10.2.    Cure Period.  Each party shall give the other party prompt written notice upon learning of any breach or default by the other party under this Agreement.  The term “Cure Period” as used herein means a period commencing on the date Buyer or Seller receives from the other written notice of breach or default hereunder and continuing until the earlier of (i) twenty (20) calendar days thereafter or (ii) five (5) business days after the scheduled Closing date; provided, however, that if the breach or default is non-monetary and cannot reasonably be cured within such period but can be cured before the date five (5) business days after the scheduled 

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Closing date, and if diligent efforts to cure promptly commence, then the Cure Period shall continue as long as such diligent efforts to cure continue, but not beyond the date five (5) business days after the scheduled Closing date.  
10.3.    Survival.  Neither party may terminate under Sections 10.1(b) or (c) if it is then in material default under this Agreement.  Except as provided by Section 10.5, the termination of this Agreement shall not relieve any party of any liability for breach or default under this Agreement prior to the date of termination.  Notwithstanding anything contained herein to the contrary, Sections 1.6 (Deposit), 5.1 (Confidentiality), 10.5 (Liquidated Damages), and 11.1 (Expenses) shall survive any termination of this Agreement.  
10.4.    Specific Performance.  In the event of failure or threatened failure by either party to comply with the terms of this Agreement, the other party shall be entitled to an injunction restraining such failure or threatened failure and to enforcement of this Agreement by a decree of specific performance requiring compliance with this Agreement.

10.5.    Liquidated Damages.  If Seller terminates this Agreement pursuant to Section 10.1(c), then Buyer shall pay Seller on demand an amount equal to 10% of the Purchase Price by authorizing release of the Deposit to the Seller, and such payment shall constitute liquidated damages and the sole remedy of Seller under this Agreement.  Buyer acknowledges and agrees that Seller’s recovery of such amount shall constitute payment of liquidated damages and not a penalty and that Seller’s liquidated damages amount is reasonable in light of the substantial but indeterminate harm anticipated to be caused by Buyer’s material breach or default under this Agreement, the difficulty of proof of loss and damages, the inconvenience and non-feasibility of otherwise obtaining an adequate remedy, and the value of the transactions to be consummated hereunder.

ARTICLE 11: MISCELLANEOUS
11.1.    Expenses.  Each party shall be solely responsible for all costs and expenses incurred by it in connection with the negotiation, preparation and performance of and compliance with the terms of this Agreement.  Any transfer taxes that may be applicable to the transfer of the Publishing Assets hereunder shall be paid one-half by Seller and one-half by Buyer.  Each party is responsible for any commission, brokerage fee, advisory fee or other similar payment that arises as a result of any agreement or action of it or any party acting on its behalf in connection with this Agreement or the transactions contemplated hereby. 
11.2.    Further Assurances.  After Closing, each party shall from time to time, at the request of and without further cost or expense to the other, execute and deliver such other instruments of conveyance and assumption and take such other actions as may reasonably be requested in order to more effectively consummate the transactions contemplated hereby.  This Agreement and each other agreement and instrument made in connection herewith and any amendments hereto or thereto, to the extent signed and delivered by facsimile transmission or electronic mail in pdf form, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the 

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original signed version thereof delivered in person.  At the request of any party, each other party shall re-execute original forms thereof and deliver them to all other parties.  
11.3.    Assignment.  Neither party may assign this Agreement without the prior written consent of the other party hereto.  The terms of this Agreement shall bind and inure to the benefit of the parties’ respective successors and any permitted assigns, and no assignment shall relieve any party of any obligation or liability under this Agreement.
11.4.    Notices.  Any notice pursuant to this Agreement shall be in writing and shall be deemed delivered on the date of personal delivery or confirmed email transmission or confirmed delivery by a nationally recognized overnight courier service, and shall be addressed as set forth on Exhibit A attached hereto (or to such other address as any party may request by written notice).
11.5.    Amendments.  No amendment or waiver of compliance with any provision hereof or consent pursuant to this Agreement shall be effective unless evidenced by an instrument in writing signed by the party against whom enforcement of such amendment, waiver, or consent is sought.

11.6.    Entire Agreement.  This Agreement (including the Schedules and Exhibits hereto) constitutes the entire agreement and understanding among the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings with respect to the subject matter hereof.  No party makes any representation or warranty with respect to the transactions contemplated by this Agreement except as expressly set forth in this Agreement.  Without limiting the generality of the foregoing, Seller makes no representation or warranty to Buyer with respect to any projections, budgets or other estimates of revenues, expenses or results of operations, or any other financial or, except as expressly set forth in Section 2.15, other information made available to Buyer with respect to the Business.

11.7.    Severability.  If any court or governmental authority holds any provision in this Agreement invalid, illegal or unenforceable under any applicable law, then, so long as no party is deprived of the benefits of this Agreement in any material respect, this Agreement shall be construed with the invalid, illegal or unenforceable provision deleted and the validity, legality and enforceability of the remaining provisions contained herein shall not be affected or impaired thereby.

11.8.    No Beneficiaries.  Nothing in this Agreement expressed or implied is intended or shall be construed to give any rights to any person or entity other than the parties hereto and their successors and permitted assigns. 

11.9.    Governing Law.  The construction and performance of this Agreement shall be governed by the laws of the State of Indiana without giving effect to the choice of law provisions thereof.  
11.10.    Neutral Construction.  Buyer and Seller agree that this Agreement was negotiated at arms-length and that the final terms hereof are the product of the parties’ negotiations.  This 

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Agreement shall be deemed to have been jointly and equally drafted by Buyer and Seller, and the provisions hereof should not be construed against a party on the grounds that the party drafted or was more responsible for drafting the provision.    
11.11.    Cooperation.  After Closing, Buyer shall cooperate with Seller in the investigation, defense or prosecution of any action which is pending or threatened against Seller or its affiliates, and in connection with any notice, demand, request, audit, inquiry or investigation of any governmental authority, with respect to the Business or other publications or business units of Seller or its affiliates, whether or not any party has notified the other of a claim for indemnity with respect to such matter.  Without limiting the generality of the foregoing, Buyer shall make available its employees to give depositions or testimony and shall furnish all documentary or other evidence that Seller may reasonably request.  
11.12.    Miscellaneous.  This Agreement may be executed in separate counterparts, each of which will be deemed an original and all of which together will constitute one and the same agreement.  This Agreement and each other agreement and instrument made in connection herewith and any amendments hereto or thereto, to the extent signed and delivered by facsimile transmission or electronic mail in pdf form, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.  At the request of any party, each other party shall re-execute original forms thereof and deliver them to all other parties. 
[SIGNATURE PAGE FOLLOWS]

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SIGNATURE PAGE TO ASSET PURCHASE AGREEMENT

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.
	
					
	SELLER
	 
	EMMIS PUBLISHING, L.P.
	 

	 
	 
	 
	 
	 

	 
	 
	By: 
	EMMIS OPERATING COMPANY
	 

	 
	 
	 
	its General Partner
	 

	 
	 
	By:
	/s/ J. Scott Enright
	 

	 
	 
	 
	J. Scott Enright
	 

	 
	 
	 
	Executive Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	ORANGE COAST KOMMUNICATIONS, INC.

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ J. Scott Enright
	 

	 
	 
	 
	J. Scott Enright
	 

	 
	 
	 
	Executive Vice President
	 

	 
	 
	 
	 
	 

	 
	 
	LOS ANGELES MAGAZINE HOLDING COMPANY, INC.

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ J. Scott Enright
	 

	 
	 
	 
	J. Scott Enright
	 

	 
	 
	 
	Executive Vice President
	 

	 
	 
	 
	 
	 

	BUYER
	 
	HOUR MEDIA GROUP, LLC
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Stefan Wanczyk
	 

	 
	 
	 
	Name:  Stefan Wanczyk
	 

	 
	 
	 
	Title: Member
	 

By its execution hereof, the undersigned agrees to be bound by the terms of Article 9 as an additional obligor of the Seller.

	
					
	 
	 
	EMMIS COMMUNICATIONS CORPORATION

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ J. Scott Enright
	 

	 
	 
	 
	J. Scott Enright
	 

	 
	 
	 
	Executive Vice President
	 

Exhibit A

1.    Closing Date:  February 27, 2017
 
2.    Circulation Report Period:

Cincinnati:  April 1, 2015 to March 31, 2016
Atlanta, Los Angeles, Orange Coast:  Calendar year 2015

3.    Outside Date:  February 28, 2017

4.    Notices:

if to Seller:                Emmis Publishing, L.P. 
                        One Emmis Plaza 
                        40 Monument Circle 
                        Indianapolis, Indiana 46204 
                        Attention:  Legal Department 
                        email:  legal@emmis.com
with a copy to (which shall        Wilkinson Barker Knauer LLP
not constitute notice):            1800 M Street, NW, Suite 800N
Washington, DC 20036
Attention:  Doc Bodensteiner
email:  doc@wbklaw.com

if to Buyer:                Hour Media Group, LLC
5750 New King Highway, Suite 100
Troy, Michigan 48098 
                        Attention:  Stefan Wanczyk
email:  stefan3wan@aol.com
with a copy to (which shall        Plunkett Cooney, P.C. 
    not constitute notice):            38505 Woodward Ave., Suite 2000 
                        Bloomfield Hills, Michigan 48304
Attention:  Scott K. Lites 
                        email:  slites@plunkettcooney.com

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