Document:

Form of Amended and Restated Loews Screen Integratrion Agreement

 Exhibit 10.10 
 NOTE: THIS DOCUMENT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933. PORTIONS OF THIS DOCUMENT FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED HAVE BEEN REDACTED AND ARE MARKED
HEREIN BY “***”. SUCH REDACTED INFORMATION HAS BEEN FILED SEPARATELY WITH THE COMMISSION PURSUANT TO THE CONFIDENTIAL TREATMENT REQUEST. 
 FIRST AMENDED AND RESTATED 
 LOEWS SCREEN INTEGRATION AGREEMENT 
 THIS FIRST AMENDED AND RESTATED LOEWS SCREEN INTEGRATION AGREEMENT (this “Agreement”) is made and entered into as of
[                         ], 2007, between NATIONAL CINEMEDIA, LLC, a Delaware limited liability company
(“NCM LLC”) and AMERICAN MULTI-CINEMA, INC., a Missouri corporation (“AMC;” collectively with NCM LLC, the “Parties”). 
 RECITALS 
 A. The Parties desire to hereby amend and restate that certain Loews Screen Integration
Agreement, dated as of January 23, 2007 but effective as of January 5, 2007, between the Parties. 
 B. AMC has acquired the Loews
Theatres and will grant NCM LLC exclusive rights to access and use the Loews Theatres for the Services as defined in and pursuant to the terms of the AMC ESA after the expiration of an existing third party contract for similar uses. 
 C. Pursuant to Section 4.08 of the AMC ESA, AMC will make payments as set forth herein in recognition of the fact that AMC will not be capable of
providing access to and use of the Loews Theatres for the Services until the expiration of the existing third party contract. 
 D. In
consideration of the payments to be made by AMC and in consideration of the additional theatre screens and patrons that AMC will make available for the Services upon the expiration of the existing third party contract with respect to the Loews
Theatres, the Class A membership units of NCM LLC (the “Units”) were reallocated pursuant to Section 8.7 of NCM LLC’s Second Amendment to the Amended and Restated Limited Liability Company Operating Agreement, dated
as of January 23, 2007 but effective as of January 5, 2007. 

 AGREEMENT 
 In consideration of the covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 1. Definitions. 
 The following terms shall
have the indicated meaning: 
 “Advertising Services” has the meaning assigned to it in the AMC ESA. 
 “Affiliate” means with respect to a Person, any other Person that directly, or indirectly through one or more intermediaries, Controls,
or is Controlled by, or is under common Control with, such Person. 
 “AMC ESA” means that certain Exhibitor Services
Agreement of even date herewith between AMC and NCM LLC as the same may be amended, restated, supplemented or otherwise modified from time to time. 
 “Beverage Agreement” has the meaning assigned to it in the AMC ESA. 
 “Beverage Agreement Advertising
Rate” has the meaning assigned to it in the AMC ESA. 
 “Business Day” means a day other than a Saturday, Sunday,
federal holiday or other day on which commercial banks in New York, New York are authorized or required by law to close. 
 “Change
of Control” with respect to any Person that is not an individual, means (i) any merger or consolidation with or into any other entity or any other similar transaction, whether in a single transaction or series of related transactions,
where (A) the members or stockholders of such Person immediately prior to such transaction in the aggregate cease to own more than 50% of the general voting power of the entity surviving or resulting from such transaction (or its stockholders)
or (B) any Person or Group becomes the beneficial owner of more than 50% of the general voting power of the entity surviving or resulting from such transaction (or its stockholders), (ii) any transaction or series of related transactions
in which in excess of 50% of such Person’s general voting power is Transferred to any other Person or Group or (iii) the sale or Transfer by such Person of all or substantially all of its assets. 
 “Common Unit Adjustment Agreement” means the Common Unit Adjustment Agreement, dated as of
                         , 2007, by and among AMC, Cinemark Media, Inc., a Delaware corporation, Cinemark USA,
Inc., a Texas corporation, Regal 

  

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CineMedia Holdings, LLC, a Delaware limited liability company, Regal Cinemas, Inc., a Tennessee corporation, National CineMedia, Inc., a Delaware
corporation, and NCM LLC, as the same may be amended, supplemented or otherwise modified from time to time. 
 “Control,”
(including the terms “Controlled by” and “under common Control with”), with respect to the relationship between or among two or more Persons, means the possession, directly or indirectly, of the power to direct or
cause the direction of the affairs or management of a Person, whether through ownership of voting Equity Interests, as trustee or executor, by contract or otherwise. 
 “Digitized Theatre” has the meaning assigned to it in the AMC ESA. 
 “Equity
Interests” means, with respect to any Person, any and all shares, interests, participations or other equivalents (however designated, whether voting or non-voting) of capital stock, partnership interests (whether general or limited),
limited liability company interests or equivalent ownership interests in or issued by, or interests, participations or other equivalents to share in the revenues or earnings of (except as provided in any service agreement that includes a revenue
sharing component entered into in the ordinary course of business), such Person or securities convertible into, or exchangeable or exercisable for, such shares, interests, participations or other equivalents and options, warrants or other rights to
acquire such shares, interests, participations or other equivalents; provided that discounts and rebates granted in the ordinary course of business shall not in any event constitute an Equity Interest. 
 “Exclusivity Run-Out Payment” has the meaning assigned to it in Attachment A. 
 “Governmental Authority” means any nation or government, any state or other political subdivision thereof, and any entity exercising
executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 
 “Group” has the
meaning used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934. 
 “Legacy Agreement” has the meaning
assigned to it in the AMC ESA. 
 “LLC Agreement” means that certain Third Amended and Restated Limited Liability Company
Operating Agreement of National CineMedia, LLC, dated as of                          , 2007, by and among AMC,
Cinemark Media, Inc., a Delaware corporation, Regal CineMedia Holdings, LLC, a Delaware limited liability company, and National CineMedia, Inc., a Delaware corporation, as the same may be amended, supplemented or otherwise modified from time to
time. 
 “Loews Exhibitor Allocation” has the meaning assigned to it in Attachment A. 
  

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 “Loews Theatres” mean the theatres acquired (and not divested under government order or
subject to a divestiture order issued by a Governmental Authority after January 5, 2007) by AMC Entertainment Inc. in connection with its merger with Loews Cineplex Entertainment Corporation completed on January 26, 2006 and which were
operating as of January 5, 2007. 
 “Marquee Holdings” means Marquee Holdings Inc. or its successor or any Person that
wholly-owns Marquee Holdings, directly or indirectly, in the future. 
 “Permitted Transferee” means in the case of AMC and
any Permitted Transferee of AMC (i) an Affiliate of AMC or such Permitted Transferee, or (ii) a non-Affiliate of AMC or such Permitted Transferee if more than 50% of the non-Affiliate’s general voting power is owned directly or
indirectly through one or more entities that are the same entities that own 50% or more of the general voting power of Marquee Holdings. 
 “Person” means any individual, corporation, limited liability company, partnership, trust, joint stock company, business trust, unincorporated association, joint venture, Governmental Authority or other entity or
organization of any nature whatsoever or any Group of two or more of the foregoing. 
 “Services” has the meaning assigned
to it in the AMC ESA. 
 “Securities Act” means the Securities Act of 1933, as it may be amended from time to time.

 “Theatre” has the meaning assigned to it in the AMC ESA. 
 “Theatre Access Fee” has the meaning assigned to it in the AMC ESA. 
 “Transfer” (including the term “Transferred”) means, directly or indirectly, to sell, transfer, give, exchange,
bequest, assign, pledge, encumber, hypothecate or otherwise dispose of, either voluntarily or involuntarily (including (i) except as provided in clause (a) below, the direct or indirect Change of Control of AMC or any Permitted Transferee
(or any direct or indirect holder of equity in AMC or a Permitted Transferee), and (ii) upon the foreclosure under any pledge or hypothecation permitted by clause (b) below that results in a change of title), any Equity Interests in NCM
LLC or other assets beneficially owned by a Person or any interest in any Equity Interests in NCM LLC or other assets beneficially owned by a Person. Notwithstanding the foregoing: (a) the Change of Control of AMC or its stockholders shall not
be deemed to be a Transfer hereunder, and (b) a bona fide pledge of Equity Interests in NCM LLC by AMC any of its Affiliates shall not be deemed to be a Transfer hereunder. 
  

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 In addition to the foregoing, the following terms have the meanings assigned in the Sections referred to
in the table below: 
  

							
	 Term
	  	 Section
	  	 Term
	  	 Section

	Agreement	  	Preamble	  	Non-Exclusivity Run-Out Payment	  	2.2(b)
	AMC	  	Preamble	  	Parties	  	Preamble
	Distributed Units	  	3.1	  	Run-Out End Date	  	5.6
	NCM LLC	  	Preamble	  	Run-Out Exclusivity End Date	  	5.6
		  		  	Units	  	Recitals

 2. Loews. 
 2.1 Integration of Loews Theatres. Loews Theatres are subject to certain valid, pre-existing contractual obligations with a third party cinema advertising provider that provides on-screen advertising services
on an exclusive basis and certain other advertising services on a non-exclusive basis to the Loews Theatres (the “Run-Out Obligations”). AMC shall discuss the Run-Out Obligations and related contracts as reasonably requested by NCM
LLC from time to time, provided such discussion will not breach confidentiality provisions related to the Run-Out Obligations. AMC and/or its Affiliates (as applicable) shall be permitted to abide by the terms of the Run-Out Obligations;
however, AMC agrees it shall neither extend nor renew such Run-Out Obligations. AMC further agrees not to enter into any new agreement with any third party with respect to any Loews Theatre, or amend or modify any Run-Out Obligation, to the extent
such agreement, amendment or modification would be inconsistent with the exclusive rights granted to NCM LLC pursuant to the AMC ESA or have the effect of any extension of the Run-Out Obligation. Prior to the expiration of the Run-Out Obligations
and upon NCM LLC’s provision of at least ten days’ advance written notice to AMC, NCM LLC may provide some or all Services to any or all Loews Theatres as if such theatres were Theatres as defined in and subject to the AMC ESA,
provided NCM LLC’s provision of Services does not create a default under any Run-Out Obligation. In any event, except in accordance with Section 4.13 of the AMC ESA (Excluded Theatres; IMAX Screens) or as may be mutually agreed by
the Parties in writing, each Loews Theatre shall automatically become a Theatre, as defined in and for all purposes of the AMC ESA, no later than Run-Out End Date. 
 2.2 Loews Payments. 
 (a) Exclusive Run-Out Obligations. With respect to each of the Services
for which the third party to the Run-Out Obligations has exclusive rights, AMC shall, until such Run-Out Obligations have terminated, make a quarterly Exclusivity Run-Out Payment to NCM LLC. The method of calculating the Exclusivity Run-Out Payment
is summarized in Attachment A. NCM LLC shall give AMC written notice of the amount of the Exclusivity Run-Out Payment within 30 days following the last day of the fiscal quarter in which one or more of the Theatres is used by the third party
for any use that is included within the definition of the Services. AMC shall pay the Exclusivity 

  

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Run-Out Payment to NCM LLC with three (3) Business Days following the date on which AMC receives the written notice provided for in the immediately
preceding sentence. 
 (b) Non-Exclusive Run-Out Obligations. With respect to each of the Services for which the third party to the
Run-Out Obligations has non-exclusive rights, AMC shall, until such Run-Out Obligations have terminated, pay NCM LLC the full amount received from the third party for such Service (the “Non-Exclusivity Run-Out Payment”). Any such
Non-Exclusivity Run-Out Payments shall be due on or before the last day of AMC’s fiscal month following the fiscal quarter in which one or more of the Theatres is used by the third party for any use that is included within the definition of
Services. 
 (c) Beverage Agreement Advertising Rate. The Loews Theatres shall be included in the calculation of the Beverage
Agreement Advertising Rate paid by AMC to NCM LLC pursuant to the AMC ESA. 
 (d) Theatre Access Fee. For the avoidance of doubt, the
calculation of the Theatre Access Fee paid by NCM LLC pursuant to the AMC ESA shall not include the Loews Theatres prior to the Run-Out Exclusivity End Date. On and after the Run-Out Exclusivity End Date, the Loews Theatres are eligible to be
included in the Theatre Access Fee, subject to the terms of the AMC ESA. 
 (e) Legacy Agreements. For the avoidance of doubt, that
certain Co-Marketing Agreement between Cingular Wireless and Loews Cineplex Theatres, Inc., dated as of December     , 2004, and any other agreement in effect as of the date hereof pursuant to which services which fall
within the definition of Advertising Services are provided to Loews Theatres and which are expected to result in the generation of revenue payable to AMC or its Affiliates on or after the date hereof (but excluding the agreement with a third party
cinema advertising provider that contains the Run-Out Obligations, the Beverage Agreement and agreements between AMC, its Affiliates and any third-party theatres regarding the exhibition of content, advertisements or promotions in such third-party
theatres) is a Legacy Agreement as defined in the AMC ESA. Such Legacy Agreements shall be assigned to NCM LLC pursuant to Section 4.06(b) of the AMC ESA. 
  

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 3. Reallocation of Units. AMC acknowledges that it has received 91.761988913253 Units, now represented by
[            ] common units in NCM LLC, in connection with the addition of Loews Theatres (“Distributed Units”) in consideration of the foregoing payments, and in
consideration of AMC’s agreement to make additional theatre screens and patrons available for the Services upon the expiration of the existing third party contract with respect to the Loews Theatres. 
 4. Restrictions on Distributed Units. 
 4.1 Failure
to Make Payments. If the AMC fails to make an Exclusivity Run-Out Payment or a Non-Exclusivity Run-Out Payment on or before the date such payment is due, and fails to cure such non-payment within ten (10) days, then NCM LLC shall have the
right to offset the amount of such non-payment against Theatre Access Fee payments, dividends, distributions or any other payments due from NCM LLC to AMC pursuant to the AMC ESA or the LLC Agreement until the Exclusivity Run-Out Payment or
Non-Exclusivity Run-Out Payment has been paid in full. 
 4.2 Covenant to Hold Distributed Units. AMC shall not Transfer or convert
any Distributed Units until after the Run-Out End Date has passed and all Exclusivity Run-Out Payments and Non-Exclusivity Run-Out Payments have been made. 
 4.3 Legend. If the Distributed Units are certificated, the certificates representing the Distributed Units shall bear the following legend: 
 THE SALE OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN LOEWS SCREEN INTEGRATION
AGREEMENT BETWEEN THE UNIT HOLDER AND THE COMPANY. COPIES OF SUCH AGREEMENT ARE AVAILABLE UPON REQUEST TO THE SECRETARY OF THE COMPANY. 
 After the Run-Out
End Date has passed and all Exclusivity Run-Out Payments and Non-Exclusivity Run-Out Payments have been made, NCM LLC shall, upon request of AMC, remove the foregoing legend from the certificates representing the Distributed Units. 
 5. Representations and Warranties of AMC. 
 5.1
Organization and Corporate Power. AMC is a corporation duly organized, validly existing and in good standing under the laws of the State of Missouri and is qualified to do business in every jurisdiction in which its ownership of
property or conduct of business requires it to qualify, except for such jurisdictions in which the failure to so qualify would not have a material adverse effect on its financial condition, operating results or business prospects. AMC has all
requisite corporate power and authority and all material licenses, permits and authorizations necessary to own and operate its properties, to carry on its businesses as now conducted and to carry out the transactions contemplated by this Agreement.

  

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 5.2 Authorization. The execution, delivery and performance of this Agreement has been duly
authorized by AMC. This Agreement is a valid and binding obligation of AMC, enforceable in accordance with its terms. 
 5.3 Investment
Representations. AMC hereby represents that it is acquiring the Distributed Units for its own account with the present intention of holding such securities for investment purposes and that it has no intention of selling such securities in a
public distribution in violation of the federal securities laws or any applicable state securities laws. AMC acknowledges that the Distributed Units have not been registered under the Securities Act or applicable state securities laws and that the
Distributed Units will be issued to AMC in reliance on exemptions from the registration requirements of the Securities Act and applicable state statutes and in reliance on the AMC’s representations and agreements contained herein. 

5.4 Other Representations and Warranties. AMC hereby represents and warrants to the Company that: (i) AMC has had an opportunity to ask
questions and receive answers concerning the terms and conditions of the Distributed Units and such other information concerning NCM LLC as AMC may have requested; (ii) AMC is an “accredited investor” as defined in Rule 501 under the
Securities Act; and (iii) AMC has all requisite power and authority to carry out the transactions contemplated by this Agreement; and the execution, delivery and performance of this Agreement and all other agreements contemplated hereby to
which AMC is a party and the acquisition of the Distributed Units have been duly authorized by the AMC. 
 5.5 Digitized Theatres. AMC
covenants that at least 90 percent of Loews Theatres shall be Digitized Theatres, as such term is defined in the AMC ESA, as of the Run-Out Exclusivity End Date. Notwithstanding the foregoing, AMC acknowledges and agrees that the Loews Theatres
shall be treated as Digitized Theatres for purposes of the Common Unit Adjustment Agreement. 
 5.6 Duration of Run-Out Obligations.
The Run-Out Obligations pursuant to which a third party cinema advertising provider provides any service to the Loews Theatres on an exclusive basis shall terminate no later than May 31, 2008 (the “Run-Out Exclusivity End
Date”). The third party cinema advertising provider may continue to provide (i) on-screen advertising services from June 1, 2008 through November 30, 2008, with respect to advertising services sold by the third party as of
the Run-Out Exclusivity End Date, and (ii) up to 60 seconds of on-screen advertising per screen prior to a feature film from December 1, 2008 through February 28, 2009. The date on which all Run-Out Obligations for the Loews Theatres
have expired (the “Run-Out End Date”) shall be no later than March 1, 2009. 
  

 8 

 6. Representations and Warranties of NCM LLC. 
 6.1 Organization and Corporate Power. NCM LLC is a limited liability company duly organized, validly existing and in good standing under the laws
of the State of Delaware and is qualified to do business in every jurisdiction in which its ownership of property or conduct of business requires it to qualify, except for such jurisdictions in which the failure to so qualify would not have a
material adverse effect on its financial condition, operating results or business prospects. NCM LLC has all requisite corporate power and authority and all material licenses, permits and authorizations necessary to own and operate its properties,
to carry on its businesses as now conducted and to carry out the transactions contemplated by this Agreement. 
 6.2 Authorization.
The execution, delivery and performance of this Agreement has been duly authorized by NCM LLC. This Agreement is a valid and binding obligation of each of NCM LLC, enforceable in accordance with its terms. 
 7. Further Actions. From and after the Closing Date, AMC shall cooperate with NCM LLC, and shall execute and deliver such documents and take such other actions as
NCM LLC may reasonably request, for the purpose of evidencing the transactions contemplated by this Agreement. 
 8. Miscellaneous. 

8.1 Governing Law. This Agreement shall be governed by and construed in all respects in accordance with the laws of the State of Delaware
without giving effect to principles of conflicts of law. 
 8.2 Notices. All notices, demands or other communications to be given
under or by reason of this Agreement shall be in writing and shall be deemed to have been received when delivered personally, or when transmitted by overnight delivery service, addressed as follows: 
 If to NCM LLC: 
 National CineMedia,
LLC 
 9110 East Nichols Avenue 
 Suite 200 
 Centennial CO 80112-3405 
 Attention: General Counsel 
 Fax: (303) 792-8649 
  

 9 

 with a copy to: 
 Holme Roberts & Owen LLP 
 1700 Lincoln Street, Suite 4100 
 Denver, Colorado 80203-4541 
 Attention: W.
Dean Salter 
 Fax: (303) 866-0200 
 If to AMC: 
 American Multi-Cinema, Inc. 
 920 Main St. 
 Kansas City, MO 64105 
 Attention: Kevin M. Connor 
 Fax:
(816) 480-4700 
 with a copy to: 
 Latham & Watkins LLP 
 885 Third Avenue 
 New York, NY 10022 
 Attention: David S.
Allinson 
 Fax: (212) 751-4864 
 Any Party
hereto may change its address for notices, demands and other communications under this Agreement by giving notice of such change to the other Parties hereto in accordance with this Section 8.2. 
 8.3 Benefit of Parties; Assignment. This Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective
successors, legal representatives and permitted assigns. This Agreement may not be assigned by any Party except with the prior written consent of all other Parties; provided, however, no prior consent shall be required for an
assignment by NCM LLC of this Agreement to an Affiliate. Nothing herein contained shall confer or is intended to confer on any third party or entity that is not a Party to this Agreement any rights under this Agreement. 
 8.4 Amendment. This Agreement may not be amended, modified, altered or supplemented except by means of a written instrument executed on behalf of
each of the Parties. 
  

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 8.5 Waiver; Remedies. 
 (a) No failure on the part of any Party hereto to exercise any power, right, privilege or remedy under this Agreement, and no delay on the part of any
Party hereto in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver thereof; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further exercise
thereof or of any other power, right, privilege or remedy. 
 (b) It is understood and agreed that each Party’s remedies at law for a
breach of this Agreement will be inadequate and that each Party shall, in the event of any such breach or the threat of such breach, be entitled to equitable relief (including without limitation provisional and permanent injunctive relief and
specific performance) from a court of competent jurisdiction. The Parties shall be entitled to the relief described in this Section 8.5(b) without the requirement of posting a bond. Nothing stated herein shall limit any other remedies provided
under this Agreement or available to the Parties at law. 
 8.6 Severability. If any provision of this Agreement is held invalid or
unenforceable by any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and
effect to the extent not held invalid or unenforceable. 
 8.7 Entire Agreement. This Agreement sets forth the entire understanding of
Parties hereto and supersedes all other agreements and understandings between the Parties hereto relating to the subject matter hereof. 
 8.8 Counterparts and Facsimiles. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by
each of the Parties and delivered to the other. The Parties hereto may execute the signature pages hereof and exchange such signature pages by facsimile transmission. 
 8.9 Interpretation of Agreement. 
 (a) As used in this Agreement, the words
“include” and “including,” and variations thereof, shall not be deemed to be terms of limitation, and shall be deemed to be followed by the words “without limitation.” 
 (b) Unless otherwise specified, references in this Agreement to “Sections” and “Attachments” are intended to refer to
Sections of, and Attachments to, this Agreement. 
  

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 (c) The Section headings contained in this Agreement are solely for the purpose of
reference, are not part of the agreement of the Parties and shall not in any way affect the meaning or interpretation of this Agreement. 
 (d) Each Party hereto and its counsel cooperated in drafting and preparation of this Agreement and the documents referred to in this Agreement. Any rule of law or any legal decision that would require interpretation
of any ambiguities in this Agreement against the Party that drafted it is of no application and is hereby expressly waived. 
 [Signature
page to follow] 
  

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 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed on the day and year
first above written. 
  

			
	NCM LLC:
	
	NATIONAL CINEMEDIA, LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	AMC:
	
	AMERICAN MULTI-CINEMA, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 [Signature page of Loews Screen Integration Agreement] 

 Attachment A 
 Calculation of Loews Exhibitor Allocation and Exclusivity Run-Out Payment 
 A. Definitions 

Within the context of this Attachment A, the following terms shall have the following meanings: 
 “Advertising-Related EBITDA” means, for the applicable fiscal quarter, LLC EBITDA, less the sum of Meeting Services EBITDA, Digital
Programming EBITDA and Non-Service EBITDA. 
 “Aggregate Advertising Revenue” has the meaning assigned to it in the AMC ESA.

 “AMC Attendance” has the meaning assigned to it in the AMC ESA, calculated for the applicable fiscal quarter. For the
avoidance of doubt, during the term of this Agreement, AMC Attendance does not include Loews Attendance. 
 “AMC Screen
Count” has the meaning assigned to it in the AMC ESA, calculated for the applicable fiscal quarter. 
 “Attendance
Factor” has the meaning assigned to it in the AMC ESA, calculated for the applicable fiscal quarter. 
 “Beverage Agreement
Revenue” means the aggregate revenue received by NCM LLC related to the Beverage Agreement and Regal’s and Cinemark’s beverage agreements for the applicable measurement period. 
 “Cinemark” means Cinemark USA, Inc., a Texas corporation. 
 “Cinemark Attendance” has the meaning assigned to it in the AMC ESA, calculated for the applicable fiscal quarter. 
 “Cinemark Screen Count” has the meaning assigned to it in the AMC ESA, calculated for the applicable fiscal quarter. 
 “Cinemark Theatre” has the meaning assigned to it in the AMC ESA. 
 “Cinemark’s Exhibitor Services Agreement” means that certain Exhibitor Services Agreement, of even date herewith, between Cinemark and NCM LLC, as the same may be amended, supplemented or otherwise modified from time
to time. 
 “Digital Programming” has the meaning assigned to it in the AMC ESA. 
 “Digital Programming Services” has the meaning assigned to it in the AMC ESA. 
 “Digital Programming EBITDA” means, for the applicable measurement period, the portion of LLC EBITDA attributable to the Digital
Programming business line, as set forth on NCM LLC’s Digital Programming business line profit and loss statement. 
  

 A-1 

 “Digitized Theatre” has the meaning assigned to it in the AMC ESA. 
 “EBITDA” means, for the applicable fiscal quarter, earnings before interest, taxes, depreciation and amortization, all as defined by
GAAP. 
 “Encumbered Service Revenue” means ***. 
 “Event Sponsorship” has the meaning assigned to it in the AMC ESA. 
 “Exclusivity EBITDA” means ***. 
 “Exclusivity Percentage” means ***. 
 “Exclusivity Run-Out Payment” means, for the applicable
fiscal quarter, ***. 
 “Founding Members” means the AMC, Cinemark Media, Inc., a Delaware corporation, and Regal
CineMedia Holdings, LLC, a Delaware limited liability company. 
 “Founding Member Attendance” means the total of the AMC
Attendance, the Cinemark Attendance and the Regal Attendance for the applicable fiscal quarter. 
 “Founding Member Screen
Count” means the total of the AMC Screen Count, the Cinemark Screen Count and the Regal Screen Count for the applicable fiscal quarter. 
 “GAAP” means generally accepted accounting principles in the United States in effect as of the relevant date on which GAAP is to be determined. 
 “Gross Advertising EBITDA” means, for the applicable fiscal quarter, Advertising-Related EBITDA less any Beverage Agreement Revenue. 
 “Inventory” has the meaning assigned to it in the AMC ESA. 
 “LLC EBITDA” means the aggregate EBITDA of NCM LLC for the applicable fiscal quarter, excluding any Exclusivity Run-Out Payments paid
pursuant to the AMC ESA, Regal’s Exhibitor Services Agreement or Regal’s Exhibitor Services Agreement. 
 “Loews
Attendance” means the total number of patrons in all Loews Theatre auditoriums during the applicable measurement period. 
 “Loews Attendance Ratio” means, for the applicable measurement period, the quotient of (i) Loews Attendance, divided by (ii) the sum of (A) the Loews Attendance and (B) the Founding Member Attendance.

 “Loews Exhibitor Allocation” means***. 
 “Loews Screen Count” means the total number of screens in Loews Theatres, calculated as an average between the number of screens on the last day of the applicable fiscal quarter and the average number
of screens on the last day of the preceding fiscal quarter. 
  

 A-2 

 “Loews Screen Ratio” means, for the applicable measurement period, the quotient of
(i) Loews Screen Count divided by (ii) the sum of (A) the Loews Screen Count and (B) the Founding Member Screen Count. 
 “Meeting Services” has the meaning assigned to it in the AMC ESA. 
 “Meeting Services EBITDA”
means, for the applicable measurement period, the portion of LLC EBITDA attributable to the Meeting Services business line, as set forth on NCM LLC’s Meeting Services business line profit and loss statement. 
 “Non-Loews Exhibitor Allocation” means ***. 
 “Non-Service EBITDA” means, for the applicable fiscal quarter, the portion of LLC EBITDA attributable to a business line other than Advertising Services, Meeting Services or Digital Programming
Services. For the avoidance of doubt, Non-Service EBITDA shall not include Exclusivity Run-Out Payments pursuant to this Agreement or any other Exhibitor Services Agreement. 
 “Regal” means Regal Cinemas, Inc., a Tennessee corporation. 
 “Regal Attendance” has the meaning assigned to it in the AMC ESA, calculated for the applicable fiscal quarter. 
 “Regal Screen Count” has the meaning assigned to it in the AMC ESA, calculated for the applicable fiscal quarter. 
 “Regal Theatre” has the meaning assigned to it in the AMC ESA. 
 “Regal’s Exhibitor Services Agreement” means that certain Amended and Restated Exhibitor Services Agreement, of even date herewith,
between Regal and NCM LLC, as the same may be amended, supplemented or otherwise modified from time to time. 
 “Screen
Factor” means the percentage resulting from 1 minus the Attendance Factor. 
 “Screen Number” has the meaning
assigned to it in the AMC ESA, calculated for the applicable fiscal quarter. 
 In addition to the foregoing, the following terms have the
meanings assigned in the Sections of this Agreement referred to in the table below: 
  

							
	 Term
	  	Section	  	 Term
	  	Section
	Advertising Services	  	1	  	Loews Theatres	  	1
	AMC ESA	  	1	  	NCM LLC	  	Preamble
	AMC	  	Preamble	  	Theatre	  	1
	Beverage Agreement	  	1	  		  	

  

 A-3 

 B. Exhibitor Allocation 
 Formula1 
 Loews Exhibitor Allocation = (Screen Factor * Loews Screen Ratio) + (Attendance Factor * Loews Attendance Ratio); where: 
  

	 	(1)	Screen Factor = 1 - Attendance Factor 

  

	 	(2)	Loews Screen Ratio = Loews Screen Count / (Loews Screen Count + Founding Member Screen Count) 

  

	 	(a)	Loews Screen Count = Total number of screens in Loews Theatres on the applicable measurement date 

  

	 	(b)	Founding Member Screen Count = AMC Screen Count (not including Loews Theatres) + Cinemark Screen Count + Regal Screen Count 

  

	 	(i)	Screen Count (for each of AMC, Cinemark and Regal) = Screen Number for that exhibitor during the applicable measurement period 

  

	 	(ii)	Screen Number = Number of screens available in the exhibitor’s Theatres on each day of the applicable measurement period to exhibit Inventory / Total number of days in the
applicable measurement period 

  

	 	(3)	Attendance Factor = Percentage of advertising revenue attributable to contracts with pricing based on any factor other than number of screens (e.g., pricing based on attendance or
flat fee), as calculated on the first day of each fiscal quarter 

  

	 	(4)	Loews Attendance Ratio = Loews Attendance / (Loews Attendance + Founding Member Attendance) 

  

	 	(a)	Founding Member Attendance = AMC Attendance (not including Loews Theatres) + Cinemark Attendance + Regal Attendance 

  

	 	(b)	Attendance (for each of Loews, AMC, Cinemark and Regal) = Total number of patrons in all of the exhibitor’s Theatre auditoriums during the applicable measurement period

  

	1	The meaning of each term used in this Loews Exhibitor Allocation formula is qualified by the definitions in this Attachment A. 

 C. Exclusivity Run-Out Payment 
 Formula1 for Quarterly Payments 
 Exclusivity Run-Out Payment = *** 
  

	1	The meaning of each term used in this Exclusivity Run-Out Payment formula is qualified by the definitions in this Attachment A.Form of NCM Inc. 2007 Equity Incentive Plan

 Exhibit 10.12 
 NATIONAL CINEMEDIA, INC. 
 2007 EQUITY INCENTIVE PLAN 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page
	1.	  	ESTABLISHMENT AND PURPOSE	  	1
		  	1.1	  	Establishment	  	1
		  	1.2	  	Purpose	  	1
			
	2.	  	DEFINITIONS	  	1
			
	3.	  	PLAN ADMINISTRATION	  	8
		  	3.1	  	General	  	8
		  	3.2	  	Authority of the Committee	  	8
		  	3.3	  	Deferral Arrangement	  	9
		  	3.4	  	No Liability	  	9
		  	3.5	  	Book Entry	  	9
			
	4.	  	STOCK SUBJECT TO THE PLAN	  	10
		  	4.1	  	Number of Shares	  	10
		  	4.2	  	Individual Award Limits	  	10
		  	4.3	  	Share Counting	  	10
		  	4.4	  	Substitute Awards	  	10
			
	5.	  	ELIGIBILITY AND PARTICIPATION	  	11
			
	6.	  	STOCK OPTIONS	  	11
		  	6.1	  	Grant of Options	  	11
		  	6.2	  	Award Agreement	  	11
		  	6.3	  	Exercise of Option	  	12
		  	6.4	  	Termination of Service	  	12
		  	6.5	  	Limitations on Incentive Stock Options	  	12
		  	6.6	  	Transferability	  	13
		  	6.7	  	Family Transfers	  	13
		  	6.8	  	Rights of Holders of Options	  	13
			
	7.	  	STOCK APPRECIATION RIGHTS	  	13
		  	7.1	  	Grant of Stock Appreciation Rights	  	13
		  	7.2	  	Award Agreement	  	14
		  	7.3	  	Exercise of Stock Appreciation Right	  	14
		  	7.4	  	Effect of Exercise	  	14
		  	7.5	  	Termination of Service	  	15
		  	7.6	  	Transferability	  	15
			
	8.	  	RESTRICTED STOCK AND RESTRICTED STOCK UNITS	  	15
		  	8.1	  	Grant of Restricted Stock or Restricted Stock Units	  	15
		  	8.2	  	Award Agreement	  	15
		  	8.3	  	Restrictions on Transfer	  	15
		  	8.4	  	Forfeiture; Other Restrictions	  	15
		  		  		  	

  

 i 

							
		  	8.5	  	Restricted Stock Units	  	15
		  	8.6	  	Termination of Service	  	16
		  	8.7	  	Stockholder Privileges	  	16
		  	8.8	  	Purchase of Restricted Stock	  	16
			
	9.	  	PERFORMANCE AWARDS	  	16
		  	9.1	  	Grant of Performance Awards	  	16
		  	9.2	  	Value of Performance Shares or Units	  	16
		  	9.3	  	Achievement of Performance Goals	  	17
		  	9.4	  	Payment of Performance Awards	  	17
		  	9.5	  	Termination of Service	  	17
		  	9.6	  	Transferability	  	17
			
	10.	  	OTHER STOCK-BASED AWARDS	  	17
			
	11.	  	DIVIDEND EQUIVALENTS	  	17
			
	12.	  	TAX WITHHOLDING	  	18
			
	13.	  	PARACHUTE LIMITATIONS	  	18
			
	14.	  	EFFECT OF CHANGES IN CAPITALIZATION	  	19
		  	14.1	  	Changes in Stock	  	19
		  	14.2	  	Change of Control	  	19
		  	14.3	  	Reorganization in Which the Company Is the Surviving Entity and in Which No Change of Control Occurs	  	20
		  	14.4	  	Adjustment	  	20
		  	14.5	  	No Limitations on the Company	  	20
			
	15.	  	REQUIREMENTS OF LAW	  	20
		  	15.1	  	General	  	20
		  	15.2	  	Rule 16b-3	  	21
			
	16.	  	GENERAL PROVISIONS	  	22
		  	16.1	  	Disclaimer of Rights	  	22
		  	16.2	  	Nontransferability of Awards	  	22
		  	16.3	  	Changes in Accounting or Tax Rules	  	22
		  	16.4	  	Nonexclusivity of the Plan	  	22
		  	16.5	  	Captions	  	22
		  	16.6	  	Other Award Agreement Provisions	  	23
		  	16.7	  	Other Employee Benefits	  	23
		  	16.8	  	Severability	  	23
		  	16.9	  	Governing Law	  	23
		  	16.10	  	Section 409A	  	23
			
	17.	  	AMENDMENT, MODIFICATION AND TERMINATION	  	23
		  	17.1	  	Amendment, Modification, and Termination	  	23
		  		  		  	

  

 ii 

							
		  	17.2	  	Awards Previously Granted	  	23
			
	18.	  	STOCKHOLDER APPROVAL; EFFECTIVE DATE OF PLAN	  	24
			
	19.	  	DURATION	  	24
			
	20.	  	EXECUTION	  	24

  

 iii 

 NATIONAL CINEMEDIA, INC. 
 2007 EQUITY INCENTIVE PLAN 
  

	1.	ESTABLISHMENT AND PURPOSE 

 1.1
Establishment. National CineMedia, Inc., a Delaware corporation (the “Company”), hereby establishes the National CineMedia, Inc. 2007 Equity Incentive Plan (the
“Plan”). The Plan permits the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, and other stock-based and cash
awards in accordance with the terms hereof. 
 1.2 Purpose. The Plan is intended to enhance the Company’s
and its Affiliates’ (as defined herein) ability to attract and retain highly qualified officers, directors, key employees, and other persons, and to motivate such persons to serve the Company and its Affiliates and to expend maximum effort to
improve the business results and earnings of the Company, by providing to such persons an opportunity to acquire or increase a direct proprietary interest in the operations and future success of the Company. 
  

	2.	DEFINITIONS 

 For purposes of interpreting the Plan
and related documents (including Award Agreements), the following definitions shall apply: 
 2.1 “Affiliate” means
with respect to the Company, (i) any company or other trade or business that controls, is controlled by or is under common control with the Company within the meaning of Rule 405 of Regulation C under the Securities Act, including without
limitation, any Subsidiary, (ii) any corporation or other entity controlling, controlled by, or under common control with the Company, including any member of an affiliated group of which the Company is a common parent corporation or subsidiary
corporation (within the meaning of Section 424 of the Code), and (iii) National CineMedia, LLC. 
 2.2
“Award” means a grant under the Plan of an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Award, or Other Stock-Based Award. 
 2.3 “Award Agreement” means the written or electronic agreement setting forth the terms and conditions applicable to each Award.
The Award Agreement is subject to the terms and conditions of the Plan. In the event of any inconsistency between the provisions of the Plan and any Award Agreement, the provisions of the Plan shall govern, except to the extent the Plan would be
considered to provide an additional benefit as determined under Sections 409A and 424 of the Code. 
 2.4 “Benefit
Arrangement” means as defined in Section 13. 
 2.5 “Board” or “Board of
Directors” means the board of directors of National CineMedia, Inc. 

 2.6 “Business Combination” means as defined in Section 2.8. 
 2.7 “Cause” means, as determined by the Committee and unless otherwise provided in an employment, a consulting or other services
agreement, if any, between the Service Provider and the Company or an Affiliate, (i) any willful breach of any material written policy of the Company or an Affiliate that results in material and demonstrable liability or loss to the Company or
the Affiliate; (ii) engaging in any conduct involving moral turpitude that causes material and demonstrable injury, monetarily or otherwise, to the Company or an Affiliate, including, but not limited to, misappropriation or conversion of assets
of the Company or an Affiliate (other than immaterial assets); (iii) a conviction of or entry of a plea of nolo contendere to a felony; or (iv) a material breach by the Service Provider of any term of any employment, consulting or other
services, confidentiality, intellectual property or non-competition agreements, if any, between the Service Provider and the Company or an Affiliate. No act or failure to act by the Service Provider shall be deemed “willful” if done, or
omitted to be done, by him or her in good faith and with the reasonable belief that his or her action or omission was in the best interest of the Company or an Affiliate. 
 2.8 “Change of Control” means and shall be deemed to have occurred upon the occurrence of: 
 (i) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule
13d-3 promulgated under the Exchange Act) of 50% or more of either (x) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (y) the combined voting power of the then
outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (i), the following
acquisitions shall not constitute a Change of Control: (A) any acquisition directly from the Company, (B) any acquisition by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by
the Company or any corporation controlled by the Company, (D) any acquisition by any corporation pursuant to a transaction which complies with clauses (A) or (B) of paragraph (iv) below, or (E) any acquisition by a Founding
Member; or 
 (ii) The acquisition by any Person, other than a Founding Member, of the right to (A) elect, or
(B) nominate for election or (C) designate for nomination pursuant to a Director Designation Agreement dated [            ], 2007 among the Company and the
Founding Members, a majority of the members of the Company’s Board; 
 (iii) The acquisition by any Person, other than
the Company or a Founding Member, of beneficial ownership of more than 50% of the units of NCM LLC; or 
  

 2 

 (iv) Consummation of a reorganization, merger or consolidation or sale or other
disposition of all or substantially all of the assets of the Company or an acquisition of assets of another corporation (a “Business Combination”), in each case, unless, following such Business Combination, (A) (x) all or
substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own,
directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be,
of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one
or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be; and (y) at
least a majority of the members of the board of directors of the corporation resulting from such Business Combination were individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”); provided, however,
that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent
Board or was designated pursuant to a Director Designation Agreement dated [            ], 2007 among the Company and the Founding Members shall be considered as though
such individual were a member of the Incumbent Board, at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination or (B) the Founding Members have acquired directly or
indirectly, more than 50% of, respectively, the outstanding shares of common stock or voting power of the then outstanding voting securities entitled to vote generally in the election of directors; or 
 (v) Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company; or 
 (vi) Approval by the members of NCM LLC of a complete liquidation or dissolution of NCM LLC. 
 2.9 “Code” means the Internal Revenue Code of 1986, as amended, and the regulations, interpretations, and administrative guidance
issued thereunder. 
 2.10 “Committee” means the Compensation Committee of the Board or any committee designated by
the Board to administer the Plan, or if no committee is appointed, the Board. The Compensation Committee or the Board may designate one or more subcommittees to (i) consist solely of persons who satisfy the applicable requirements of any stock
exchange or national market system on which the shares of Stock may be listed, (ii) consist solely of persons who qualify as an “outside director” within the meaning of Section 162(m) of the Code, and (iii) consist solely of
persons who qualify as a “non-employee director” within the meaning of Rule 16b-3 promulgated under the Exchange Act. 
  

 3 

 2.11 “Company” means National CineMedia, Inc., a Delaware corporation.

 2.12 “Corporate Event” means an event described in Section 14.1. 
 2.13 “Disabled” or “Disability” means, unless otherwise provided in an employment, a consulting or other
services agreement, if any, between the Participant and the Company or an Affiliate, the Participant is unable to perform each of the essential duties of such Participant’s position by reason of a medically determinable physical or mental
impairment which is potentially permanent in character or which can be expected to last for a continuous period of not less than 12 months; provided that, the following shall apply: 
 (a) With respect to rules regarding expiration of an Incentive Stock Option following termination of the Participant’s Service, Disability has the
meaning set forth in Section 22(e)(3) of the Code. 
 (b) With respect to any Award subject to Section 409A of the Code, the
Participant is: (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not
less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, is receiving income
replacement benefits for a period of not less than three months under an accident or health plan covering employees of the Participant’s employer; or (iii) determined to be totally disabled by the Social Security Administration.

 2.14 “Dividend Equivalents” means any right granted under Section 11. 
 2.15 “Effective Date” means the effective date of the Plan,
[                    ], 2007, the date the Plan was approved by the Board. 
 2.16 “Employee” means any individual who is a common-law employee of the Company or an Affiliate determined in accordance with
the Company’s standard personnel policies and practices. 
 2.17 “Exchange Act” means the U.S. Securities
Exchange Act of 1934, as it may be amended from time to time, or any successor act thereto. 
 2.18 “Exercise Price”
means the price at which a share of Stock may be purchased pursuant to the exercise of an Option. 
 2.19 “Fair Market
Value” means the value of a share of Stock as of a particular date, determined as follows: (a) the closing sale price reported for such share on the national securities exchange or national market system on which such stock is
principally traded, or if no sale of shares is reported for such trading day, on the next preceding day on which a sale was reported, or (b) if the shares of Stock are not then listed on a national securities exchange or 

  

 4 

 
national market system, or the value of such shares is not otherwise determinable, such value as determined by the Committee in good faith in its sole
discretion consistent with the requirements under Section 409A of the Code; notwithstanding the foregoing, the Fair Market Value of a share of Stock for purposes of Awards (other than NCM LLC Substitute Awards and other Substitute Awards) with
a Grant Date as of the Company’s initial public offering shall be the price per share of Stock in such initial public offering, as determined by the Committee. 
 2.20 “Family Member” means a person who is a spouse, former spouse, child, stepchild, grandchild, parent, stepparent, grandparent, niece, nephew, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother, sister, brother-in-law, or sister-in-law, including adoptive relationships, of the Participant, a trust in which any one or more of these persons have more than fifty percent (50%) of the beneficial interest, a
foundation in which any one or more of these persons (or the Participant) control the management of assets, and any other entity in which one or more of these persons (or the Participant) own more than fifty percent (50%) of the voting
interests; provided, however, that to the extent required by applicable law, the term Family Member shall be limited to a person who is a spouse, former spouse, child, stepchild, grandchild, parent, stepparent, grandparent, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother, sister, brother-in-law, or sister-in-law, including adoptive relationships, of the Participant or a trust or foundation for the exclusive benefit of any one or more of these persons. 

2.21 “Founding Member” means as such term is defined in the Limited Liability Company Operating Agreement. 
 2.22 “Good Reason” means, unless otherwise provided in an employment, a consulting or other services agreement, if any, between
the Service Provider and the Company or an Affiliate, (i) reduction in the Service Provider’s base salary, (ii) a diminution of the Service Provider’s title, office, position or authority, excluding for this purpose an action not
taken in bad faith and which is remedied within twenty (20) days after receipt of written notice thereof given by the Service Provider, (iii) the assignment to the Service Provider of any duties inconsistent with the Service
Provider’s position (including status or reporting requirements), authority, or material responsibilities, or the removal of the Participant’s authority or material responsibilities, excluding for this purpose an action not taken in bad
faith and which is remedied by the Company within twenty (20) days after receipt of notice thereof given by the Service Provider, (iv) a transfer of the Service Provider’s primary workplace by more than fifty (50) miles from the
current workplace, or (v) a material breach of any term of any employment, consulting or other services agreement, if any, between the Service Provider and the Company or an Affiliate by the Company which is not remedied within twenty
(20) days after receipt of written notice thereof given by the Service Provider. 
 2.23 “Grant Date” means, as
determined by the Committee, the latest to occur of (i) the date on which the Committee approves an Award, (ii) the date on which the recipient of an Award first becomes eligible to receive an Award under Section 5, or (iii) such
other date as may be specified by the Committee in the Award Agreement. 
 2.24 “Grant Price” means the per share
exercise price of a Stock Appreciation Right granted to a Participant under Section 7. 
  

 5 

 2.25 “Incentive Stock Option” means an Option to purchase shares of Stock
designated as an Incentive Stock Option that is intended to meet the requirements of Section 422 of the Code. 
 2.26
“Incumbent Board” means as defined in Section 2.8. 
 2.27 “Limited Liability Company Operating
Agreement” means the Third Amended and Restated Limited Liability Company Operating Agreement of National CineMedia, LLC, dated as of
[                    ], 2007, by and among the members of National CineMedia LLC, as it may be amended, modified or replaced
from time to time. 
 2.28 “Minimum Statutory Withholding” means as defined in Section 12. 
 2.29 “National CineMedia, LLC” means National CineMedia, LLC, a Delaware limited liability company. 
 2.30 “NCM LLC Substitute Awards” means Awards granted in substitution for outstanding unit options and restricted units granted
to employees of National CineMedia, LLC, in connection with its reorganization and related transactions pursuant to the initial public offering of the Company. The terms and conditions of NCM LLC Substitute Awards shall comply with the requirements
for substitutions of awards made in connection with a corporate transaction or certain other adjustments that are not treated as modifications under Regulation § 1.424-1 and Section 409A of the Code, as applicable. 
 2.31 “Non-Qualified Stock Option” means any Option other than an Incentive Stock Option. 
 2.32 “Option” means an option to purchase one or more shares of Stock at a stated or formula price for a specified period of
time. An Option granted under the Plan shall be either an Incentive Stock Option or a Non-Qualified Stock Option. 
 2.33 “Other
Agreement” means as defined in Section 13. 
 2.34 “Other Stock-Based Award” means an equity-based
Award that is granted to a Participant under Section 10. 
 2.35 “Outstanding Company Common Stock” means as
defined in Section 2.8. 
 2.36 “Outstanding Company Voting Securities” means as defined in Section 2.8.

 2.37 “Parachute Payment” means as defined in Section 13. 
 2.38 “Participant” means any eligible individual as defined in Section 5 who is granted an Award under the Plan. 

2.39 “Performance Award” means an Award made subject to the achievement of performance goals granted under Section 9,
denominated in shares of Stock (“Performance Shares”) or units (“Performance Units”), the value of which at the time it is payable is determined based upon the extent to which the corresponding
performance goals have been achieved. 
  

 6 

 2.40 “Performance Period” means the period of time during which the performance
goals must be achieved in order to determine the degree of vesting or payout with respect to an Award, not to exceed ten (10) years. Performance Periods may be overlapping. 
 2.41 “Person” means as defined in Section 2.8. 
 2.42 “Plan” means this National CineMedia, Inc. 2007 Equity Incentive Plan, as amended from time to time. 
 2.43 “Purchase Price” means the purchase price for each share of Stock pursuant to a grant of Restricted Stock. 
 2.44 “Restricted Stock” means an Award of shares of Stock granted under Section 8. 
 2.45 “Restricted Stock Unit” or “RSU” means a bookkeeping entry representing the equivalent of shares of
Stock granted under Section 8. 
 2.46 “Restriction Period” means the period during which Restricted Stock and
Restricted Stock Units are subject to a substantial risk of forfeiture (based upon the passage of time, the achievement of performance goals or upon the occurrence of other events as determined by the Committee, in its discretion), as provided in
Sections 8.3 and 8.4. 
 2.47 “Securities Act” means the U.S. Securities Act of 1933, as it may be amended from time
to time, or any successor act thereto. 
 2.48 “Service” means service as a Service Provider to the Company or an
Affiliate. Unless otherwise stated in the applicable Award Agreement, a Participant’s change in position or duties shall not result in interrupted or terminated Service, so long as such Participant continues to be a Service Provider to the
Company or an Affiliate. Subject to the preceding sentence, whether a termination of Service shall have occurred for purposes of the Plan shall be determined by the Committee, which determination shall be final, binding and conclusive. 

2.49 “Service Provider” means an employee, officer or director of the Company or an Affiliate, or a consultant or adviser
currently providing services to the Company or an Affiliate. 
 2.50 “Stock” or “Common
Stock” means a share of National CineMedia, Inc., common stock, $0.01 par value per share. 
 2.51 “Stock
Appreciation Right” or “SAR” means an Award granted under Section 7. 
 2.52
“Subsidiary” means any “subsidiary corporation” of the Company within the meaning of Section 424(f) of the Code. 
 2.53 “Substitute Awards” means Awards (excluding NCM LLC Substitute Awards) granted in substitution for, or in assumption of, outstanding awards previously granted by an 

  

 7 

 
entity acquired by the Company or a Subsidiary or an Affiliate or with which the Company or Subsidiary or Affiliate combines. The terms and conditions of any
Substituted Awards shall comply with the requirements for substitutions or assumptions of awards made in connection with a corporate transaction or certain other adjustments that are not treated as modifications under Regulation § 1.424-1
and Section 409A of the Code, as applicable. 
  

	3.	PLAN ADMINISTRATION 

 3.1
General. The Board shall have such powers and authorities related to the
administration of the Plan as are consistent with the Company’s certificate of incorporation and bylaws and applicable law. The Board shall have the power and authority to delegate its responsibilities hereunder to the Committee, which shall
have full power and authority to act in accordance with its charter, and with respect to the authority of the Board to act hereunder, all references to the Board shall be deemed to include a reference to the Committee, to the extent such power or
responsibilities have been delegated. Except as otherwise may be required by applicable law, regulatory requirement or the certificate of incorporation or the bylaws of the Company, the Board shall have full power and authority to take all actions
and to make all determinations required or provided for under the Plan, any Award or any Award Agreement, and shall have full power and authority to take all such other actions and make all such other determinations not inconsistent with the
specific terms and provisions of the Plan that the Board deems to be necessary or appropriate to the administration of the Plan, any Award or any Award Agreement. The interpretation and construction by the Board of any provision of the Plan, any
Award or any Award Agreement shall be final, binding and conclusive. 
 3.2 Authority of the Committee. The Board
from time to time may delegate to one or more Committees such powers and authorities related to the administration and implementation of the Plan, as set forth in this Section 3 and in other applicable provisions, as the Board shall determine.
Unless otherwise expressly determined by the Board, any such action or determination by the Committee shall be final, binding and conclusive. To the extent permitted by law, the Committee may delegate its authority under the Plan to a member of the
Board or an executive officer of the Company. Subject to the other terms and conditions of the Plan, the Committee shall have full and final authority, including but not limited to: 
 (a) designate Participants; 
 (b) determine
the type or types of Awards to be made to a Participant; 
 (c) determine the number of shares of Stock to be subject to an Award; 

(d) establish the terms and conditions of each Award (including, but not limited to, the Exercise Price of any Option, the Grant Price of any Stock
Appreciation Right, the nature and duration of any restriction or condition (or provision for lapse thereof) relating to the vesting, exercise, transfer, or forfeiture of an Award or the shares of Stock subject thereto, and any terms or conditions
that may be necessary to qualify Options as Incentive Stock Options); 
 (e) prescribe the form of each Award Agreement; and 
  

 8 

 (f) amend, modify, or supplement the terms of any outstanding Award including the authority to modify
Awards to foreign nationals or individuals who are employed outside the United States to recognize differences in local law, tax policy, or custom. 
 Notwithstanding the foregoing, no amendment or modification may be made to an outstanding Option or Stock Appreciation Right that (i) causes the Option or Stock Appreciation Right to become subject to Section 409A of the Code,
(ii) reduces the Exercise Price or Grant Price, either by lowering the Exercise Price or Grant Price or by canceling the outstanding Option or Stock Appreciation Right and granting a replacement Option or Stock Appreciation Right with a lower
Exercise Price or Grant Price, or (iii) would be treated as a repricing under the rules of the exchange upon which shares of Stock of the Company trade, without, with respect to item (i), the Participant’s written prior approval, and with
respect to items (ii) and (iii), without the approval of the stockholders of the Company, provided, that, appropriate adjustments may be made to outstanding Options and Stock Appreciation Rights pursuant to Section 14. 
 As a condition to any Award, the Committee shall have the right, at its discretion, to require Participants to return to the Company Awards previously
granted under the Plan. The Committee shall have the right, in its discretion, to make Substitute Awards. Subject to the terms and conditions of the Plan, any such subsequent Award shall be upon such terms and conditions as are specified by the
Committee at the time the new Award is granted. The Company may retain the right in an Award Agreement to cause a forfeiture of the gain realized by a Participant on account of actions taken by the Participant in violation or breach of or in
conflict with any non-competition agreement, any agreement prohibiting solicitation of employees or clients of the Company or any Affiliate thereof or any confidentiality obligation with respect to the Company or any Affiliate thereof or otherwise
in competition with the Company or any Affiliate thereof, to the extent specified in such Award Agreement applicable to the Participant. Furthermore, the Company may annul an Award if the Participant is an employee of the Company or an Affiliate
thereof and is terminated for Cause as defined in the applicable Award Agreement or the Plan, as applicable. 
 3.3 Deferral
Arrangement. The Committee may permit or require the deferral of any Award payment into a deferred compensation arrangement, subject to such rules and procedures as it may establish in accordance with Section 409A of the Code, which may
include provisions for the payment or crediting of interest or Dividend Equivalents, including converting such credits into deferred Stock units. 
 3.4 No Liability. No member of the Board or of the Committee shall be liable for any action or determination made in good faith with respect to the Plan, any Award or any Award Agreement. 
 3.5 Book Entry. Notwithstanding any other provision of this Plan to the contrary, the Company may elect to satisfy any
requirement under this Plan for the delivery of stock certificates through the use of book-entry. 
  

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	4.	STOCK SUBJECT TO THE PLAN 

 4.1 Number of
Shares. Subject to adjustment as provided in Section 14, the maximum number of shares of Stock available for issuance under the Plan shall be [2,650,000] shares (including NCM LLC Substitute Awards). Subject to adjustment
as provided in Section 14, [500,000] shares of Stock available for issuance under the Plan shall be available for issuance pursuant to Incentive Stock Options. Such maximum numbers may be increased from time to time by approval of
the Board and by the stockholders of the Company if, in the opinion of counsel for the Company, stockholder approval is required. Stock issued or to be issued under the Plan shall be authorized but unissued shares; or, to the extent permitted by
applicable law, issued shares that have been reacquired by the Company. 
 4.2 Individual Award Limits. Subject to adjustment
as provided in Section 14, the maximum number of shares of Stock that may be covered by an Award granted under the Plan (other than NCM LLC Substitute Awards and other Substitute Awards) to a single Participant in any calendar year shall not
exceed [500,000] shares. The maximum dollar amount that may be awarded (other than NCM LLC Substitute Awards and other Substitute Awards) to a single Participant in any calendar year shall not exceed $[5,000,000].

 4.3 Share Counting. The Committee may adopt reasonable counting procedures to ensure appropriate counting, avoid double
counting (as, for example, in the case of Substitute Awards or tandem Awards) and make adjustments in accordance with Section 14. If the Exercise Price of any Option granted under the Plan, or if pursuant to Section 12 the tax withholding
obligation of any Participant with respect to an Option or other Award, is satisfied by tendering shares of Stock to the Company (either by actual deliver or by attestation) or by withholding shares of Stock, the number of shares of Stock issued net
of the shares of Stock tendered or withheld shall be deemed delivered for purposes of determining the maximum number of shares of Stock available for delivery under the Plan. To the extent that an Award under the Plan is canceled, expired,
forfeited, settled in cash, settled by issuance of fewer shares than the number underlying the Award, or otherwise terminated without delivery of shares to the Participant, the shares of Stock retained or returned to the Company will be available
under the Plan; and shares that are withheld from such an Award or separately surrendered by the Participant in payment of the Exercise Price or taxes relating to such an Award shall be deemed to constitute shares of Stock not delivered to the
Participant and will be available under the Plan. The counting procedures described above in this Section 4.3 shall apply with respect to NCM LLC Substitute Awards. With respect to other Substitute Awards, shares of Stock withheld or delivered
to pay tax withholding obligations and shares covered by a Substitute Award that is canceled, expired, forfeited, settled in cash, or otherwise settled by issuance of fewer shares shall not be added back to shares available for issuance under the
Plan. 
 4.4 Substitute Awards. In the case of other Substitute Awards (excluding NCM LLC Substitute Awards), the shares of
Stock subject to the Substitute Award shall not be counted against the number of shares reserved under the Plan. 
  

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	5.	ELIGIBILITY AND PARTICIPATION 

 Individuals eligible
to participate in this Plan include all Service Providers of the Company, or any Affiliate; provided, however, to the extent required under Section 409A of the Code, an Affiliate of the Company shall include only an entity in which the
Company possesses at least twenty percent (20%) of the total combined voting power of the entity’s outstanding voting securities or such other threshold ownership percentage permitted under Section 409A of the Code. Subject to the
provisions of this Plan, the Committee may, from time to time, select from all eligible individuals, those individuals to whom Awards shall be granted. An eligible person may receive more than one Award, subject to such restrictions as are provided
herein. 
  

	6.	STOCK OPTIONS 

 6.1 Grant of Options.
Subject to the provisions of this Plan, Options may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee, it its sole discretion; provided that Incentive Stock
Options may be granted only to eligible Employees of the Company or of any parent corporation or subsidiary corporation (as permitted by Section 422 of the Code). 
 6.2 Award Agreement. Each Option granted under the Plan shall be evidenced by an Award Agreement that shall specify the Exercise Price, the number of shares of Stock covered by the Option, the maximum
duration of the Option, the conditions upon which an Option shall become vested and exercisable and such other provisions as the Committee shall determine, consistent with the terms of the Plan. The Award Agreement shall specify whether the Option
is intended to be an Incentive Stock Option or a Non-Qualified Stock Option. 
 (a) Exercise Price. The Exercise Price for each
Option shall be as determined by the Committee and shall be specified in the Award Agreement. The Exercise Price shall be: (i) not less than one hundred percent (100%) of the Fair Market Value of a share of Stock on the Grant Date,
(ii) set at a premium to the Fair Market Value of a share of Stock on the Grant Date, or (iii) indexed to the Fair Market Value of a share of Stock on the Grant Date, with the index determined by the Committee, in its discretion;
provided, however, with respect to NCM LLC Substitute Awards and other Substitute Awards, the Exercise Price is not required to be at least equal to the Fair Market Value on the Grant Date. In no case shall the Exercise Price of any Option be
less than the par value of a share of Stock. 
 (b) Number of Shares. Each Award Agreement shall state that it covers a
specified number of shares of Stock, as determined by the Committee. 
 (c) Term. Each Option shall terminate as set forth in
the Award Agreement and all rights to purchase shares of Stock shall expire at such time as the Committee shall determine at the time of grant; provided, however, no Option shall be exercisable later than the tenth (10th) anniversary of
the Grant Date, except as may be required with respect to NCM LLC Substitute Awards or other Substitute Awards. 
 (d) Restrictions on
Exercise. The Award Agreement shall set forth any installment or other restrictions on exercise of the Option during the term of the Option. Each Option shall become exercisable and shall vest over such period of time, or upon such events,
as determined by the Committee. 
  

 11 

 6.3 Exercise of Option. 
 (a) Manner of Exercise. An Option granted hereunder shall be exercised, in whole or in part, by providing written or electronic notice, on a
form provided by the Company, to the Committee (or an officer designated by the Committee), specifying the number of shares of Stock to be purchased and accompanied by full payment of the Exercise Price for the shares and satisfaction of any tax
withholding requirements. 
 (b) Payment. A condition to the issuance or other delivery of shares of Stock as to which an
Option shall be exercised shall be the payment of the Exercise Price and satisfaction of any tax withholding requirements. The Exercise Price of an Option shall be payable to the Company in full, in any method permitted under the Award Agreement,
including: (i) in cash or in cash equivalents acceptable to the Company; (ii) by tendering (either by actual delivery or by attestation) unrestricted shares of Stock already owned by the Participant (for at least six (6) months or
such other period as may be required by the Committee) on the date of surrender to the extent the shares of Stock have a Fair Market Value on the date of surrender equal to the aggregate Exercise Price of the shares as to which such Option shall be
exercised, provided that, in the case of an Incentive Stock Option, the right to make payment in the form of already owned shares of Stock may be authorized only at the time of grant, (iii) any other method approved or accepted by the Committee
in its sole discretion, including, but not limited to a cashless (broker-assisted) exercise, or (iv) any combination of the foregoing. Unless otherwise determined by the Committee, all payments under all of the methods indicated above shall be
paid in United States dollars. 
 (c) Delivery of Shares. Promptly after the exercise of an Option by a Participant and the
payment in full of the Exercise Price, such Participant shall be entitled to the issuance of certificates evidencing such Participant’s ownership of the shares of Stock purchased upon exercise of the Option. Notwithstanding any other provision
of this Plan to the contrary, the Company may elect to satisfy any requirement under this Plan for the delivery of certificates through the use of book-entry. 
 6.4 Termination of Service. Each Award Agreement shall set forth the extent to which the Participant shall have the right to exercise the Option following termination of the Participant’s Service.
Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Options issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of Service. 
 6.5 Limitations on Incentive Stock Options. 
 (a) Initial Exercise. The aggregate Fair Market Value of the shares of Stock with respect to which Incentive Stock Options are exercisable for the first time by a Participant in any calendar year, under
the Plan or otherwise, shall not exceed $100,000. For this purpose, the Fair Market Value of the shares of Stock shall be determined as of the Grant Date and each Incentive Stock Option shall be taken into account in the order granted. 

 

 12 

 (b) Ten Percent Stockholders. An Incentive Stock Option granted to a Participant who is the
holder of record of more than ten percent (10%) of the combined voting power of all classes of stock of the Company shall have an Exercise Price at least equal to one hundred and ten percent (110%) of the Fair Market Value of a share of
Stock on the Grant Date of the Option and the term of the Option shall not exceed five (5) years. 
 (c) Notification of
Disqualifying Disposition. If any Participant shall make any disposition of shares of Stock acquired pursuant to the exercise of an Incentive Stock Option under the circumstances described in Section 421(b) of the Code (relating to
certain disqualifying dispositions), the Participant shall notify the Company of such disposition within ten (10) days thereof. 
 6.6
Transferability. Except as provided in Section 6.7, during the lifetime of a Participant, only the Participant (or, in the event of legal incapacity or incompetency, the Participant’s guardian or legal representative) may
exercise an Option. Except as provided in Section 6.7, no Option shall be assignable or transferable by the Participant to whom it is granted, other than by will or the laws of descent and distribution. 
 6.7 Family Transfers. If authorized in the applicable Award Agreement, a Participant may transfer, not for value, all or part of an Option
to any Family Member. For the purpose of this Section 6.7, a “not for value” transfer is a transfer which is (i) a gift, (ii) a transfer under a domestic relations order in settlement of marital property rights; or
(iii) unless applicable law does not permit such transfers, a transfer to an entity in which more than fifty percent (50%) of the voting interests are owned by Family Members (or the Participant) in exchange for an interest in that entity.
Following a transfer under this Section 6.7, any such Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer. Subsequent transfers of transferred Options are prohibited except to
Family Members of the original Participant in accordance with this Section 6.7 or by will or the laws of descent and distribution. The events of termination of Service under an Option shall continue to be applied with respect to the original
Participant, following which the Option shall be exercisable by the transferee only to the extent, and for the periods specified in the applicable Award Agreement. 
 6.8 Rights of Holders of Options. Unless otherwise stated in the applicable Award Agreement, an individual holding or exercising an Option shall have none of the rights of a stockholder of the Company
(for example, the right to receive cash or dividend payments or distributions attributable to the subject shares of Stock or to direct the voting of the shares of Stock) until the shares of Stock covered thereby are fully paid and issued to such
individual. Except as provided in Section 14 hereof, no adjustment shall be made for dividends, distributions or other rights for which the record date is prior to the date of such issuance. 
  

	7.	STOCK APPRECIATION RIGHTS 

 7.1 Grant of Stock
Appreciation Rights. Subject to the provisions of this Plan, Stock Appreciation Rights may be granted to Participants at any time and from time to time as shall be determined by the Committee. The Committee may grant freestanding Stock
Appreciation Rights, Stock Appreciation Rights that are granted in tandem with an Option, or any combination thereof. 
  

 13 

 7.2 Award Agreement. Each Stock Appreciation Right shall be evidenced by an Award Agreement
that shall specify the Grant Price, the number of shares of Stock covered by the Stock Appreciation Right, the maximum duration of the Stock Appreciation Right, the conditions upon which the Stock Appreciation Right shall become vested and
exercisable and such other provisions as the Committee shall determine, consistent with the terms of the Plan. 
 (a) Grant
Price. The Grant Price for each Stock Appreciation Right shall be determined by the Committee and shall be specified in the Award Agreement. Other than with respect to Substitute Awards, the Grant Price shall not be less than one hundred
percent (100%) of the Fair Market Value of a share of Stock on the Grant Date of the Stock Appreciation Right. 
 (b) Number of
Shares. Each Award Agreement shall state that it covers a specified number of shares of Stock, as determined by the Committee. 
 (c)
Term. Each Stock Appreciation Right shall terminate and all rights with respect to the Stock Appreciation Right shall expire at such time as the Committee shall determine at the time of grant; provided, however, no Stock
Appreciation Rights shall be exercisable later than the tenth (10th) anniversary of the Grant Date. 

(d) Restrictions on Exercise. The Award Agreement shall set forth any installment or other restrictions on exercise of the Stock
Appreciation Right during its term. Each Stock Appreciation Right shall become exercisable and shall vest over such period of time, or upon such events, as determined by the Committee (including based on achievement of performance goals or future
service requirements). 
 7.3 Exercise of Stock Appreciation Right. A Participant desiring to exercise a Stock Appreciation
Right shall give written or electronic notice, on a form provided by the Company, of such exercise to the Company with the information the Company deems reasonably necessary to exercise the Stock Appreciation Right. If a Stock Appreciation Right is
issued in tandem with an Option, except as may otherwise be provided by the Committee, the Stock Appreciation Right shall be exercisable during the period that its related Option is exercisable. Upon the exercise of a Stock Appreciation Right, a
Participant shall be entitled to receive payment from the Company in an amount determined by multiplying: 
 (a) The excess of the Fair Market
Value of a share of Stock on the date of exercise over the Grant Price; by 
 (b) The number of shares of Stock with respect to which the
Stock Appreciation Right is exercised. 
 At the discretion of the Committee, the payment upon exercise may be in cash, shares of Stock or
any combination thereof, or in any other manner approved by the Committee in its sole discretion. The Committee’s determination as to the form of settlement shall be set forth in the Award Agreement. 
 7.4 Effect of Exercise. If a Stock Appreciation Right is issued in tandem with an Option, the exercise of the Stock Appreciation Right or
the related Option will result in an equal reduction in the number of corresponding shares of Stock subject to the Option or Stock Appreciation Right that were granted in tandem with such Stock Appreciation Right and Option. 
  

 14 

 7.5 Termination of Service. Upon the termination of Service of a Participant,
any Stock Appreciation Rights then held by such Participant shall be exercisable within the time periods, and upon the same conditions with respect to the reasons for termination of Service, as are specified in Section 6.4 with respect to
Options. 
 7.6 Transferability. A Stock Appreciation Right shall only be transferable upon the same terms and conditions with
respect to transferability, as are specified in Sections 6.6 and 6.7 with respect to Options. 
  

	8.	RESTRICTED STOCK AND RESTRICTED STOCK UNITS 

 8.1
Grant of Restricted Stock or Restricted Stock Units. Subject to the provisions of this Plan, the Committee at any time and from time to time, may grant shares of Restricted Stock or Restricted Stock Units to Participants in such
amounts as the Committee shall determine. 
 8.2 Award Agreement. Each grant of Restricted Stock or Restricted Stock Units
shall be evidenced by an Award Agreement that shall specify the Restriction Period, the number of shares of Restricted Stock or the number of Restricted Stock Units granted and such other provisions as the Committee shall determine. 
 8.3 Restrictions on Transfer. Except as provided in this Plan or an Award Agreement, the shares of Restricted Stock and Restricted Stock
Units may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated until the end of the Restriction Period established by the Committee and specified in the Award Agreement (and in the case of Restricted Stock Units until
the date of delivery or other payment), or upon earlier satisfaction or any other conditions, as specified by the Committee, in its sole discretion. All rights with respect to the Restricted Stock or Restricted Stock Units granted to a Participant
shall be available during his or her lifetime only to such Participant, except as otherwise provided in an Award Agreement or at any time by the Committee. 
 8.4 Forfeiture; Other Restrictions. The Committee shall impose such other conditions and restrictions on any shares of Restricted Stock or Restricted Stock Units as it may deem advisable including a
requirement that the Participant pay a specified amount to purchase each share of Restricted Stock, restrictions based upon the achievement of specific performance goals, time-based restrictions on vesting following the attainment of the performance
goals, time-based restrictions or restrictions under applicable laws or under the requirements of any stock exchange or market upon which shares of Stock are then listed or traded, or holding requirements or sale restrictions placed on the shares of
Stock by the Company upon vesting of such Restricted Stock or Restricted Stock Units. 
 8.5 Restricted Stock Units. A holder
of Restricted Stock Units shall have no rights other than those of a general creditor of the Company. Restricted Stock Units represent an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Award
Agreement. Restricted Stock Units may be settled in cash or Stock, as determined by the Committee and set forth in the Award Agreement. 
  

 15 

 8.6 Termination of Service. Unless otherwise provided by the Committee in the applicable
Award Agreement, upon the termination of a Participant’s Service with the Company or an Affiliate, any shares of Restricted Stock or Restricted Stock Units held by such Participant that have not vested, or with respect to which all applicable
restrictions and conditions have not lapsed, shall immediately be deemed forfeited, and the Participant shall have no further rights with respect to such Awards, including but not limited to any right to vote Restricted Stock or any right to receive
dividends with respect to Restricted Stock or Restricted Stock Units. 
 8.7 Stockholder Privileges. Unless otherwise
determined by the Committee and set forth in the Award Agreement: 
 (a) A Participant holding shares of Restricted Stock shall have voting
rights with respect to the shares during the Restriction Period. The Committee may provide in an Award Agreement that the Participant shall be entitled to receive Dividend Equivalents during the Restriction Period in accordance with Section 11.

 (b) A Participant holding Restricted Stock Units shall have no rights of a stockholder of the Company with respect to the Restricted Stock
Units. The Committee may provide in an Award Agreement that the holder of such Restricted Stock Units shall be entitled to receive Dividend Equivalents in accordance with Section 11. 
 8.8 Purchase of Restricted Stock. The Participant shall be required, to the extent required by applicable law, to purchase the shares of
Restricted Stock from the Company at a Purchase Price equal to the greater of (i) the aggregate par value of the shares of Stock represented by such Restricted Stock or (ii) the Purchase Price, if any, specified in the Award Agreement. The
Purchase Price shall be payable in cash or in cash equivalents acceptable to the Company. In addition, to the extent the Award Agreement so provides, payment of the Purchase Price may be made in any other form that is consistent with applicable
laws, regulations and rules, or, in the discretion of the Committee, in consideration for past Services rendered to the Company or an Affiliate. Upon the expiration or termination of the Restriction Period and the satisfaction of any other
conditions prescribed by the Committee, having properly paid the Purchase Price, the restrictions applicable to Restricted Stock shall lapse, and, unless otherwise provided in the Award Agreement, a certificate for such shares of Stock shall be
delivered, free of all such restrictions, to the Participant or the Participant’s beneficiary or estate, as the case may be. 
  

	9.	PERFORMANCE AWARDS 

 9.1 Grant of Performance
Awards. Subject to the provisions of this Plan, the Committee, at any time and from time to time, may grant Performance Shares or Performance Units to Participants in such amounts and upon such terms as the Committee shall determine.

 9.2 Value of Performance Shares or Units. Each Performance Share shall have an initial value equal to the Fair Market Value
of a Share on the Grant Date. Each Performance Unit shall have an initial value that is established by the Committee at the time of grant. The Committee shall set performance goals in its discretion which, depending upon the extent to which the
performance goals are achieved, will determine the number or value of Performance Shares or Performance Units that will be paid to the Participant. 
  

 16 

 9.3 Achievement of Performance Goals. Subject to the provisions of this Plan, after the
applicable Performance Period has been completed, the Committee shall determine the number of Performance Shares or value of Performance Units the Participant has earned over the Performance Period based upon the extent to which the performance
goals have been achieved. 
 9.4 Payment of Performance Awards. The time and form of payment of Performance Awards earned by
the Participant shall be as determined by the Committee and as set forth in the Award Agreement. Any payment of shares of Stock may be granted subject to any restrictions deemed appropriate by the Committee. The Committee may provide in an Award
Agreement for the payment of Dividend Equivalents in accordance with Section 11. 
 9.5 Termination of Service. Each Award
Agreement shall set forth the extent to which the Participant shall have the right to retain Performance Shares or Performance Units following termination of Service. Such provisions shall be determined in the sole discretion of the Committee and
need not be uniform among all Awards of Performance Shares or Performance Units and may reflect distinctions based upon the reason for termination. 
 9.6 Transferability. Except as otherwise provided in an Award Agreement, Performance Awards may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by the laws of descent and
distribution. 
  

	10.	OTHER STOCK-BASED AWARDS 

 From time to time during
the duration of this Plan, the Committee may, in its sole discretion, adopt one or more incentive compensation arrangements for Participants pursuant to which the Participants may acquire shares of Stock under the Plan, whether by purchase, outright
grant, or otherwise. Any such arrangements shall be subject to the general provisions of this Plan and all shares of Stock issued pursuant to such arrangements shall be issued under this Plan. 
  

	11.	DIVIDEND EQUIVALENTS 

 Subject to the terms of the
Plan and any applicable Award Agreement, a Participant shall, if so determined by the Committee, be entitled to receive, currently, or on a deferred basis, dividends or Dividend Equivalents, with respect to the shares of Stock covered by the Award.
The Committee may provide that any dividends paid on shares of Stock subject to an Award must be reinvested in additional shares of Stock, which may or may not be subject to the same vesting conditions and restrictions applicable to the Award.
Notwithstanding the award of Dividend Equivalents or dividends, a Participant shall not be entitled to receive a special or extraordinary dividend or distribution unless the Committee shall have expressly authorized such receipt. All distributions,
if any, received by a Participant with respect to an Award as a result of any split, Stock dividend, combination of shares of Stock, or other similar transaction shall be subject to the restrictions applicable to the original Award. Notwithstanding
the foregoing, with respect to Restricted Stock granted as NCM LLC Substitute Awards and Restricted Stock granted to directors immediately upon completion of the Company’s initial public offering during the Restriction Period, such Participants
shall be entitled to receive regular cash dividends declared and paid with respect to the shares of Restricted Stock. 
  

 17 

	12.	TAX WITHHOLDING 

 The Company or any Affiliate, as
the case may be, shall have the right to deduct from payments of any kind otherwise due to a Participant any federal, state, or local taxes, domestic or foreign, of any kind required by law with respect to the vesting of or other lapse of
restrictions applicable to Awards or upon the issuance of any shares of Stock or payment of any kind upon the exercise of any Options or Stock Appreciation Rights. At the time of such vesting, lapse, payment, or exercise, the Participant shall pay
to the Company or Affiliate, as the case may be, any amount that the Company or Affiliate may reasonably determine to be necessary to satisfy such withholding obligation. 
 Subject to the prior approval of the Company or the Affiliate, which may be withheld by the Company or the Affiliate, as the case may be, in its sole discretion, the Participant may elect to have shares of Stock
withheld or to deliver shares to satisfy the minimum statutory withholding rates for federal, state and local income taxes and employment taxes that are applicable to supplemental taxable income (“Minimum Statutory
Withholding”) obligations. The Participant may elect to satisfy Minimum Statutory Withholding obligations, in whole or in part, (i) by causing the Company or the Affiliate to withhold shares of Stock otherwise issuable to the
Participant or (ii) by delivering to the Company or the Affiliate shares of Stock already owned by the Participant (for any minimum period required by the Committee). The shares of Stock so delivered or withheld shall have an aggregate Fair
Market Value not in excess of such withholding obligations. The Fair Market Value of the shares of Stock used to satisfy such withholding obligation shall be determined by the Committee as of the date that the amount of tax to be withheld is to be
determined. A Participant who has made an election pursuant to this Section 12 may satisfy his or her withholding obligation only with shares of Stock that are not subject to any repurchase, forfeiture, unfulfilled vesting, or other similar
requirements. 
  

	13.	PARACHUTE LIMITATIONS 

 Notwithstanding any other
provision of this Plan or of any other agreement, contract, or understanding heretofore or hereafter entered into by a Participant with the Company or any Affiliate, except an agreement, contract, or understanding hereafter entered into that
expressly modifies or excludes application of this Section 13 (an “Other Agreement”), and notwithstanding any formal or informal plan or other arrangement for the direct or indirect provision of compensation to the
Participant (including groups or classes of participants or beneficiaries of which the Participant is a member), whether or not such compensation is deferred, is in cash, or is in the form of a benefit to or for the Participant (a
“Benefit Arrangement”), if the Participant is a “disqualified individual,” as defined in Section 280G(c) of the Code, any Awards held by that Participant and any right to receive any payment or other benefit
under this Plan shall not become exercisable or vested (i) to the extent that such right to exercise, vesting, payment, or benefit, taking into account all other rights, payments, or benefits to or for the Participant under this Plan, all Other
Agreements, and all Benefit Arrangements, would cause any payment or benefit to the Participant under this Plan to be considered a “parachute payment” within the meaning of Section 280G(b)(2) of the Code as then in effect (a
“Parachute Payment”) and (ii) if, as a result of receiving a Parachute Payment, the aggregate after-tax amounts received by the Participant from the Company under this Plan, all Other Agreements, and all Benefit
Arrangements would be less than the maximum after-tax amount 

  

 18 

 
that could be received by the Participant without causing any such payment or benefit to be considered a Parachute Payment. In the event that the receipt of
any such right to exercise, vesting, payment, or benefit under this Plan, in conjunction with all other rights, payments, or benefits to or for the Participant under any Other Agreement or any Benefit Arrangement would cause the Participant to be
considered to have received a Parachute Payment under this Plan that would have the effect of decreasing the after-tax amount received by the Participant as described in clause (ii) of the preceding sentence, then the Committee shall have the
right, in its sole discretion, to designate those rights, payments, or benefits under this Plan, any Other Agreements, and any Benefit Arrangements to be reduced or eliminated so as to avoid having the payment or benefit to the Participant under
this Plan be deemed to be a Parachute Payment. 
  

	14.	EFFECT OF CHANGES IN CAPITALIZATION 

 14.1
Changes in Stock. The number of shares of Stock for which Awards may be made under the Plan shall be proportionately increased or decreased for any increase or decrease in the number of shares of Stock on account of any
recapitalization, reclassification, split, reverse split, combination, exchange, dividend or other distribution payable in shares of Stock, or for any other increase or decrease in such shares of Stock effected without receipt of consideration by
the Company occurring after the Effective Date (any such event hereafter referred to as a “Corporate Event”). In addition, subject to the exception set forth in the second sentence of Section 14.4, the number and kind of
shares for which Awards are outstanding shall be proportionately increased or decreased for any increase or decrease in the number of shares of Stock on account of any Corporate Event. Any such adjustment in outstanding Options or Stock Appreciation
Rights shall not increase the aggregate Exercise Price or Grant Price payable with respect to shares that are subject to the unexercised portion of an outstanding Option or Stock Appreciation Right, as applicable, and the adjustment shall comply
with the requirements under Section 409A of the Code. The conversion of any convertible securities of the Company shall not be treated as an increase in shares effected without receipt of consideration. Notwithstanding the foregoing, in the
event of any distribution to the Company’s stockholders of securities of any other entity or other assets (including an extraordinary cash dividend but excluding a non-extraordinary dividend payable in cash or in stock of the Company) without
receipt of consideration by the Company, the Company shall proportionately adjust (i) the number and kind of shares subject to outstanding Awards and/or (ii) the Exercise Price per share of outstanding Options and the Grant Price of
outstanding Stock Appreciation Rights to reflect such distribution. Notwithstanding the foregoing, upon the occurrence of any event or transaction contemplated in this Section 14.1, any changes contemplated herein shall be modified to the
minimum extent necessary, in the sole discretion of the Committee, to avoid any tax that may otherwise become due under Section 409A of the Code. 
 14.2 Change of Control. Subject to the exception set forth in the second sentence of Section 14.4, if, within three months prior to or one year after the consummation of a Change of Control, a
Participant’s Service is terminated by either the Company, an Affiliate or a successor in interest to the Company or an Affiliate without Cause or by the Participant for Good Reason, then all of the Participant’s Options and Stock
Appreciation Rights outstanding hereunder shall become immediately exercisable and all outstanding other Awards shall be deemed to have vested, with all restrictions and conditions applicable to such Awards deemed lapsed. 
  

 19 

 Provision may be made in writing in connection with a Change of Control for the assumption or
continuation of the Awards theretofore granted, or for the substitution for such Awards for new options, restricted stock or other equity awards relating to the stock or units of a successor entity, or a parent or subsidiary thereof, with
appropriate adjustments as to the number of shares or units (disregarding any consideration that is not common stock) and option prices, in which event the Awards theretofore granted shall continue in the manner and under the terms so provided.

 14.3 Reorganization in Which the Company Is the Surviving Entity and in Which No Change of Control Occurs. Subject to the
exception set forth in the second sentence of Section 14.4, if the Company shall be the surviving entity in any reorganization, merger, or consolidation of the Company with one or more other entities and in which no Change of Control occurs,
any Award theretofore made pursuant to the Plan shall pertain to and apply solely to the securities to which a holder of the number of securities subject to such Award would have been entitled immediately following such reorganization, merger, or
consolidation, and, in the case of Options and Stock Appreciation Rights, with a corresponding proportionate adjustment of the Exercise Price or Grant Price per share so that the aggregate Exercise Price or Grant Price thereafter shall be the same
as the aggregate Exercise Price or Grant Price of the shares of Stock remaining subject to the Option or Stock Appreciation Right immediately prior to such reorganization, merger, or consolidation. Subject to any contrary language in an Award
Agreement evidencing any other Award, any restrictions applicable to such Award shall apply as well to any replacement shares of Stock received by the Participant as a result of the reorganization, merger or consolidation. Notwithstanding the
foregoing, upon the occurrence of any event or transaction contemplated in this Section 14.3, any changes contemplated herein shall be modified to the minimum extent necessary, in the sole discretion of the Committee, to avoid any tax that may
otherwise become due under Section 409A of the Code. 
 14.4 Adjustment. Adjustments under Section 14 related to
shares of Stock or securities of the Company shall be made by the Committee, whose determination in that respect shall be final, binding and conclusive. The Committee may provide in the Award Agreements at the time of Award, or any time thereafter
with the consent of the Participant, for different provisions to apply to an Award in place of those described in Sections 14.1, 14.2 and 14.3. Notwithstanding the foregoing, any different provisions or changes to provisions contemplated herein
shall be modified to the minimum extent necessary, in the sole discretion of the Committee, to avoid any tax that may otherwise become due under Section 409A of the Code. 
 14.5 No Limitations on the Company. The making of Awards pursuant to the Plan shall not affect or limit in any way the right or power of
the Company to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure or to merge, consolidate, dissolve, or liquidate, or to sell or transfer all or any part of its business or assets. 
  

	15.	REQUIREMENTS OF LAW 

 15.1 General.
The Company shall not be required to issue or sell any shares of Stock under any Award if the issuance or sale of such shares would constitute a violation by the Participant, any other individual exercising an Option or Stock Appreciation Right, or
the Company of any provisions of any law or regulation of any governmental authority, including 

  

 20 

 
without limitation any federal or state securities laws or regulations. If at any time the Company shall determine, in its discretion, that the listing,
registration or qualification of any shares subject to an Award upon any securities exchange or under any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issuance or purchase of shares of Stock
hereunder, no shares of Stock may be issued or sold to the Participant or any other individual exercising an Option or Stock Appreciation Right pursuant to such Award unless such listing, registration, qualification, consent or approval shall have
been effected or obtained free of any conditions not acceptable to the Company, and any delay caused thereby shall in no way affect the date of termination of the Award. Specifically, in connection with the Securities Act, upon the exercise of any
Option or the delivery of any shares of Stock underlying an Award, unless a registration statement under the Securities Act is in effect with respect to the shares of Stock covered by such Award, the Company shall not be required to issue or sell
such shares of Stock unless the Committee has received evidence satisfactory to it that the Participant or any other individual exercising an Option may acquire such shares of Stock pursuant to an exemption from registration under the Securities
Act. Any determination in this connection by the Committee shall be final, binding, and conclusive. The Company may, but shall in no event be obligated to, register any securities covered hereby pursuant to the Securities Act. The Company shall not
be obligated to take any affirmative action in order to cause the exercise of an Option or the issuance or sale of shares of Stock pursuant to the Plan to comply with any law or regulation of any governmental authority. As to any jurisdiction that
expressly imposes the requirement that an Option shall not be exercisable until the shares of Stock covered by such Option are registered or are exempt from registration, the exercise of such Option (under circumstances in which the laws of such
jurisdiction apply) shall be deemed conditioned upon the effectiveness of such registration or the availability of such an exemption. 
 15.2
Rule 16b-3. During any time when the Company has a class of equity security registered under Section 12 of the Exchange Act, it is the intent of the Company that Awards pursuant to the Plan and the exercise of Options granted
hereunder will qualify for the exemption provided by Rule 16b-3 under the Exchange Act. To the extent that any provision of the Plan or action by the Committee does not comply with the requirements of Rule 16b-3, it shall be deemed inoperative to
the extent permitted by law and deemed advisable by the Committee, and shall not affect the validity of the Plan. In the event that Rule 16b-3 is revised or replaced, the Committee may exercise its discretion to modify this Plan in any respect
necessary to satisfy the requirements of, or to take advantage of any features of, the revised exemption or its replacement. 
  

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	16.	GENERAL PROVISIONS 

 16.1 Disclaimer of
Rights. No provision in the Plan, in any Award or in any Award Agreement shall be construed to confer upon any individual the right to remain in the employ or service of the Company or any Affiliate, or to interfere in any way with any
contractual or other right or authority of the Company either to increase or decrease the compensation or other payments to any individual at any time, or to terminate any employment or other relationship between any individual and the Company or
any Affiliate. The obligation of the Company to pay any benefits pursuant to this Plan shall be interpreted as a contractual obligation to pay only those amounts described herein, in the manner and under the conditions prescribed herein. The Plan
shall in no way be interpreted to require the Company to transfer any amounts to a third party trustee or otherwise hold any amounts in trust or escrow for payment to any participant or beneficiary under the terms of the Plan. 
 16.2 Nontransferability of Awards. Except as provided in Sections 6.6 and 7.6 or otherwise at the time of grant or thereafter, no right or
interest of any Participant in an Award granted pursuant to the Plan, shall be assignable or transferable during the lifetime of the Participant, either voluntarily or involuntarily, or subjected to any lien, directly or indirectly, by operation of
law, or otherwise, including execution, levy, garnishment, attachment, pledge or bankruptcy. In the event of a Participant’s death, a Participant’s rights and interests in Awards shall only be transferable by will or the laws of descent
and distribution to the extent provided under this Plan, and payment of any amounts due thereunder shall be made to, and exercise of any Option or Stock Appreciation Right may be made by, the Participant’s legal representatives, heirs or
legatees. If in the opinion of the Committee a person entitled to payments or to exercise rights with respect to the Plan is unable to care for his or her affairs because of mental condition, physical condition or age, payment due such person may be
made to, and such rights shall be exercised by, such person’s guardian, conservator or other legal personal representative upon furnishing the Committee with evidence satisfactory to the Committee of such status. 
 16.3 Changes in Accounting or Tax Rules. Except as provided otherwise at the time an Award is granted, notwithstanding any other provision
of the Plan to the contrary, if, during the term of the Plan, any changes in the financial or tax accounting rules applicable to any Award shall occur which, in the sole judgment of the Committee, may have a material adverse effect on the reported
earnings, assets or liabilities of the Company, the Committee shall have the right and power to modify as necessary, any then outstanding and unexercised Options, Stock Appreciation Rights and other outstanding Awards as to which the applicable
services or other restrictions have not been satisfied. 
 16.4 Nonexclusivity of the Plan. The adoption of the Plan shall not
be construed as creating any limitations upon the right and authority of the Committee to adopt such other incentive compensation arrangements (which arrangements may be applicable either generally to a class or classes of individuals or
specifically to a particular individual or particular individuals) as the Committee in its discretion determines desirable. 
 16.5
Captions. The use of captions in this Plan or any Award Agreement is for the convenience of reference only and shall not affect the meaning of any provision of the Plan or such Award Agreement. 
  

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 16.6 Other Award Agreement Provisions. Each Award Agreement may contain such other terms
and conditions not inconsistent with the Plan as may be determined by the Committee, in its sole discretion. 
 16.7 Other Employee
Benefits. The amount of any compensation deemed to be received by a Participant as a result of the exercise of an Option or Stock Appreciation Right, the sale of Shares received upon such exercise, the vesting of any Restricted Stock,
receipt of Performance Shares, distributions with respect to Restricted Stock Units or Performance Units, or Other Stock-Based Awards shall not constitute “earnings” or “compensation” with respect to which any other employee
benefits of such employee as determined, including without limitation, benefits under any pension, profit sharing, 401(k), life insurance or salary continuation plan. 
 16.8 Severability. If any provision of the Plan or any Award Agreement shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and
thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable in any other jurisdiction. 
 16.9 Governing Law. The validity and construction of this Plan and the Award Agreements shall be construed in accordance with and governed by the laws of the State of Delaware other than any conflicts or choice of law rule or
principle that might otherwise refer construction or interpretation of this Plan and the Award Agreements to the substantive laws of any other jurisdiction. 
 16.10 Section 409A. Notwithstanding anything in this Plan to the contrary, the Plan and Awards made under the Plan are intended to comply with the requirements imposed by Section 409A of the
Code. If any Plan provision or Award under the Plan would result in the imposition of an additional tax under Section 409A of the Code, the Company and the Participant intend that the Plan provision or Award will be reformed to avoid
imposition, to the extent possible, of the applicable tax and no action taken to comply with Section 409A of the Code shall be deemed to adversely affect the Participant’s rights to an Award. The Participant further agrees that the
Committee, in the exercise of its sole discretion and without the consent of the Participant, may amend or modify an Award in any manner and delay the payment of any amounts payable pursuant to an Award to the minimum extent necessary to meet the
requirements of Section 409A of the Code as the Committee deems appropriate or desirable. 
  

	17.	AMENDMENT, MODIFICATION AND TERMINATION 

 17.1
Amendment, Modification, and Termination. Subject to Sections 3.2, 16.11 and 17.2, the Board may at any time terminate, and from time to time may amend or modify the Plan provided, however, that no amendment or modification may become
effective without approval of the stockholders of the Company if stockholder approval is required to enable the Plan to satisfy any applicable statutory or regulatory requirements, or if the Company, on the advice of counsel, determines that
stockholder approval is otherwise necessary or desirable. 
 17.2 Awards Previously Granted. Except as otherwise may be
required under Section 16.11, notwithstanding Section 17.1 to the contrary, no amendment, modification or termination of the Plan or Award Agreement shall adversely affect in any material way any previously granted Award, without the
written consent of the Participant holding such Award. 
  

 23 

	18.	STOCKHOLDER APPROVAL; EFFECTIVE DATE OF PLAN 

 The
Plan shall be effective as of the Effective Date. Any Option that is designated as an Incentive Stock Option shall be a Nonqualified Stock Option if the Plan is not approved by the stockholders of the Company within twelve (12) months after the
Effective Date of the Plan. 
  

	19.	DURATION 

 Unless sooner terminated by the Board,
this Plan shall terminate automatically 10 years from the Effective Date. After the Plan is terminated, no Awards may be granted. Awards outstanding at the time the Plan is terminated shall remain outstanding in accordance with the terms and
conditions of the Plan and the Award Agreement. 
  

	20.	EXECUTION 

 To record adoption of the Plan by the
Board as of                     , 2007, the Company has caused its authorized officer to execute the Plan. 
  

			
	NATIONAL CINEMEDIA, INC.
		
	 By:
	 	  

		 	Kurt C. Hall
		 	President and Chief Executive Officer
		
	 Date:
	 	  

  

 24

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