Document:

Restricted Stock Units Agreeement (Ripp)

 Exhibit 10.25 

Time Warner Inc. 2013 Stock Incentive Plan 

RIPP RSU (RURIPP) 
 For Use
from November 2013 
 Restricted Stock Units Agreement 

General Terms and Conditions 

WHEREAS, the Company has adopted the Plan (as defined below), the terms of which are hereby incorporated by reference and made a part of this
Agreement; and 
 WHEREAS, the Committee has determined that it would be in the best interests of the Company and its stockholders to
grant the restricted stock units (the “RSUs”) provided for herein to the Participant pursuant to the Plan and the terms set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties agree as follows: 

 

	1.	Definitions. Whenever the following terms are used in this Agreement, they shall have the meanings set forth below. Capitalized terms not otherwise defined herein shall have the same meanings as in the
Plan. 

  

	 	a)	“Disability Termination Date” means a “Disability Termination Date” as defined in the Employment Agreement. 

 

	 	b)	“Employment Agreement” means the employment agreement dated October 31, 2013 between the Participant and Time Inc., as such employment agreement may be amended, superseded or replaced, but
not including any amendments or modifications that have the effect of modifying the terms of the Award. 

  

	 	c)	“Notice” means (i) the Notice of Grant of Restricted Stock Units that accompanies this Agreement, if such notice is delivered to the Participant in “hard copy,” and (ii) the
screen of the website for the stock plan administration with the heading “Vesting Schedule and Details,” which contains the details of the grant governed by this Agreement, if such notice is delivered electronically to the Participant.

  

	 	d)	“Participant” means Joseph A. Ripp. 

  

	 	e)	“Plan” means the equity plan maintained by the Company that is specified in the Notice, which equity plan has been provided to the Participant separately and forms a part of this Agreement, as
such plan may be amended, supplemented or modified from time to time. 

  

	 	f)	“PublicCo” means “PublicCo” as defined in the Employment Agreement. 

  

	 	g)	“Shares” means shares of Common Stock of the Company. 

  

	 	h)	“Spin-off” means “Spin-off” as defined in the Employment Agreement. 

	 	i)	“Vesting Date” means September 3 in each year from September 3, 2014 through September 3, 2018. 

 

	2.	Grant of Restricted Stock Units. The Company hereby grants to the Participant (the “Award”), on the terms and conditions hereinafter set forth, the number of RSUs set forth on the
Notice. Each RSU represents the unfunded, unsecured right of the Participant to receive a Share on the date(s) specified herein. RSUs do not constitute issued and outstanding shares of Common Stock for any corporate purposes and do not confer on the
Participant any right to vote on matters that are submitted to a vote of holders of Shares. 

  

	3.	Dividend Equivalents and Retained Distributions. If on any date while RSUs are outstanding hereunder the Company shall pay any regular cash dividend on the Shares, the Participant shall be paid, for each
RSU held by the Participant on the record date, an amount of cash equal to the dividend paid on a Share (the “Dividend Equivalents”) at the time that such dividends are paid to holders of Shares. If on any date while RSUs are
outstanding hereunder the Company shall pay any dividend other than a regular cash dividend or make any other distribution on the Shares, the Participant shall be credited with a bookkeeping entry equivalent to such dividend or distribution for each
RSU held by the Participant on the record date for such dividend or distribution, but the Company shall retain custody of all such dividends and distributions unless the Board has in its sole discretion determined that an amount equivalent to such
dividend or distribution shall be paid currently to the Participant (the “Retained Distributions”); provided, however, that (a) if the Retained Distribution relates to a dividend paid in Shares, the
Participant shall receive an additional amount of RSUs equal to the product of (I) the aggregate number of RSUs held by the Participant pursuant to this Agreement through the related dividend record date, multiplied by (II) the number of Shares
(including any fraction thereof) payable as a dividend on a Share and (b) no Retained Distributions will be credited as a result of or in connection with the Spin-off. Retained Distributions will not bear interest and will be subject to the
same restrictions as the RSUs to which they relate. Notwithstanding anything else contained in this paragraph 3, no payment of Dividend Equivalents or Retained Distributions shall occur before the first date on which a payment could be made without
subjecting the Participant to tax under the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 

 

	4.	Vesting and Delivery of Vested Securities.  

  

	 	a)	Subject to the terms and provisions of the Plan and this Agreement, no later than 60 days after each Vesting Date with respect to the Award, the Company shall issue or transfer to the Participant the number of Shares
corresponding to such Vesting Date and the Retained Distributions, if any, covered by that portion of the Award. Except as otherwise provided in paragraph 5, the vesting of such RSUs and any Retained Distributions relating thereto shall occur only
if the Participant has continued in Employment of Time Inc. or any of its Affiliates on the Vesting Date and has continuously been so employed since the Date of Grant (as defined in the Notice). 

  
 2 

	 	b)	RSUs Extinguished. Upon each issuance or transfer of Shares in accordance with this Agreement, a number of RSUs equal to the number of Shares issued or transferred to the Participant shall be extinguished and
such number of RSUs will not be considered to be held by the Participant for any purpose. 

  

	 	c)	Final Issuance. Upon the final issuance or transfer of Shares and Retained Distributions, if any, to the Participant pursuant to this Agreement, in lieu of a fractional Share, the Participant shall receive a cash
payment equal to the Fair Market Value of such fractional Share. 

  

	 	d)	Section 409A. Notwithstanding anything else contained in this Agreement, no Shares shall be issued or transferred to a Participant before the first date on which a payment could be made without subjecting
the Participant to tax under the provisions of Section 409A of the Code. 

  

	5.	Termination of Employment. 

  

	 	a)	If the Participant’s Employment with Time Inc. and its Affiliates is terminated for any reason (whether or not by the Participant) other than those described in clauses (b) and (c) below prior to the
Vesting Date with respect to any portion of the Award, then the RSUs covered by any such portion of the Award and any Retained Distributions relating thereto shall be completely forfeited on the date of any such termination, unless otherwise
provided in the Employment Agreement. In addition, if the Participant’s Employment with Time Inc. or any of its Affiliates is terminated pursuant to Section 4.1 of the Employment Agreement, then any vested RSUs held by the Participant as
of the effective date of such termination of Employment, to the extent Shares have not yet been issued to the Participant therefor, and any Retained Distributions related thereto shall be forfeited on such effective date of termination.

  

	 	b)	If the Participant’s Employment (i) terminates as a result of his death or on a Disability Termination Date, (ii) is terminated (A) by Time Inc. or an Affiliate for any reason other than pursuant to
Section 4.1 of the Employment Agreement or (B) by the Participant pursuant to Section 4.2 of the Employment Agreement, or (iii) is transferred by Time Inc. or an Affiliate to a corporation, company or other entity that is not an
Affiliate, then the RSUs for which a Vesting Date has not yet occurred and all Retained Distributions relating thereto shall, to the extent the RSUs were not extinguished prior to such termination or transfer of Employment and, in the case of a
termination pursuant to Section 4.2 of the Employment Agreement, subject to the Participant’s satisfaction of the release of claims requirement set forth in Section 4.4 of the Employment Agreement, fully vest on the date of the
Participant’s death, the Disability Termination Date or the date the release of claims requirement is satisfied, as applicable, and Shares subject to the RSUs and the Retained Distributions, if any, related to such RSUs shall be issued or
transferred to the Participant as soon as practicable, but no later than 60 days, following the date of such termination or transfer of Employment. 

  
 3 

	 	c)	If (i) Time Inc. ceases to be a direct or indirect subsidiary of the Company for any reason other than the Spin-off, (ii) the Participant’s Employment with Time Inc. and its Affiliates has not terminated
prior to the date Time Inc. ceases to be a direct or indirect subsidiary of the Company, and (iii) the RSUs that have not been extinguished pursuant to paragraph 4(b) are not assumed, converted or replaced with substitute awards in connection
with the applicable transaction that results in Time Inc. ceasing to be a direct or indirect subsidiary of the Company (with equitable adjustments that are consistent with those required by paragraph 18 of this Agreement), then, on the date that
Time Inc. ceases to be a direct or indirect subsidiary of the Company, the RSUs for which a Vesting Date has not yet occurred (to the extent the RSUs were not extinguished as of such date and subject to the Participant’s satisfaction of the
release of claims requirement set forth in Section 4.4. of the Employment Agreement), and any Retained Distributions relating thereto, shall fully vest on such date, and Shares subject to the RSUs and the Retained Distributions, if any, related
to such RSUs shall be issued or transferred to the Participant as soon as practicable, but no later than 60 days, following such date. 

For purposes of this paragraph 5, a temporary leave of absence shall not constitute a termination of Employment or a failure to be continuously
employed by Time Inc. or any Affiliate regardless of the Participant’s payroll status during such leave of absence if such leave of absence is approved in writing by the Company, Time Inc. or any Affiliate; provided, that such leave of absence
constitutes a bona fide leave of absence and not a Separation From Service under Treas. Reg. 1.409A-1(h)(1)(i). Notice of any such approved leave of absence should be sent to the Company at One Time Warner Center, New York, New York 10019,
attention: Director, Global Stock Plans Administration, but such notice shall not be required for the leave of absence to be considered approved. 

In the event the Participant’s Employment with Time Inc. or any of its Affiliates is terminated, the Participant shall have no claim
against the Company with respect to the RSUs and related Retained Distributions, if any, other than as set forth in this paragraph 5, the provisions of this paragraph 5 being the sole remedy of the Participant with respect thereto. 

The Participant acknowledges that the Spin-off shall not be treated as a termination of the Participant’s Employment with Time Inc. or any
Affiliate. 
  

	6.	Withholding Taxes. 

  

	 	a)	 Obligation to Pay Withholding Taxes. The Participant acknowledges and agrees that, regardless of any action the Company or the
Participant’s employer takes with respect to any or all income tax, social insurance, payroll tax, payment on account or other tax-related withholding (the “Tax-Related Items”), the ultimate liability for all Tax-Related
Items legally due by the Participant (i) is and remains the Participant’s responsibility and (ii) may exceed the amount actually withheld by the Company or the Participant’s employer. The Participant further agrees and
acknowledges that the Company and the Participant’s employer (A) make no representations or undertakings regarding the treatment of any 

  
 4 

	 	
Tax-Related Items in connection with any aspect of the Award, including the grant of the Award, the vesting of the RSUs or the subsequent sale of any Shares acquired from vesting of the RSUs, and
the receipt of any Dividend Equivalents or Retained Distributions; and (B) do not commit to and are under no obligation to structure the terms of the Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve
any particular tax result. Further, the Participant understands and acknowledges that if the Participant has become subject to tax in more than one jurisdiction between the Date of Grant and the date of any relevant taxable event, the Company and/or
the Participant’s employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. The Company’s obligation to deliver the Shares subject to the RSUs or to pay any
Dividend Equivalents or Retained Distributions shall be subject to payment of all Tax-Related Items by the Participant. 

  

	 	b)	Satisfaction of Company’s Withholding Obligations. At the time any portion of an Award of RSUs, Dividend Equivalent or Retained Distribution relating thereto, becomes taxable to the Participant, he
will be required to pay to the Company or the Participant’s employer, as applicable, any Tax-Related Items due as a result of such taxable event. The Company or the Participant’s employer shall have the right to withhold from any payment
in respect of RSUs, transfer of Shares acquired at vesting, or payment made to the Participant or to any person hereunder, whether such payment is to be made in cash or in Shares, all Tax-Related Items as shall be required, in the determination of
the Company, pursuant to any statute or governmental regulation or ruling. The Participant acknowledges and agrees that the Company or the Participant’s employer, in their sole discretion, may satisfy such withholding obligation by any one or a
combination of the following methods: 

  

	 	(i)	by requiring the Participant to deliver a properly executed notice together with irrevocable instructions to a broker approved by the Company to sell a sufficient number of Shares to generate net proceeds (after
commission and fees) equal to the amount required to be withheld and promptly deliver such amount to the Company; 

  

	 	(ii)	by requiring or allowing the Participant to pay the amount required to be withheld in cash or by check; 

  

	 	(iii)	by deducting the amount required to be withheld from the Participant’s current compensation or other amounts payable to the Participant; 

 

	 	(iv)	by allowing the Participant to surrender other Shares that (A) in the case of Shares initially acquired from the Company (upon exercise of a stock option or otherwise), have been owned by the Participant for such
period (if any) as may be required to avoid a charge to the Company’s earnings, and (B) have a fair market value on the date of surrender equal to the amount required to be withheld; 

  
 5 

	 	(v)	by withholding a number of Shares to be issued upon delivery of Shares that have a fair market value equal to the minimum statutory amount required to be withheld; 

 

	 	(vi)	by selling any Shares to the extent required to pay the amount required to be withheld; or 

  

	 	(vii)	by such other means or method as the Committee in its sole discretion and without notice to the Participant deems appropriate. 

The Company may satisfy its obligation to withhold the Tax-Related Items on Dividend Equivalents and Retained Distributions payable in cash by
withholding a sufficient amount from the payment or by such other means as the Committee in its sole discretion and without notice to the Participant deems appropriate, including withholding from salary or other amounts payable to the Participant,
Shares or cash having a value sufficient to satisfy the withholding obligation for Tax-Related Items. 
 The Company will not issue any
Shares to the Participant until the Participant satisfies the withholding obligation for Tax-Related Items. If the withholding obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, the Participant shall be deemed
to have been issued the full number of Shares subject to the vested RSUs, notwithstanding that a number of Shares are held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of the Participant’s
participation in the Plan. 
  

	 	c)	Compliance with Applicable Laws. The Committee may also require the Participant to acknowledge that he shall not sell or transfer Shares except in compliance with all applicable laws, and may apply such
other restrictions on the sale or transfer of the Shares as it deems appropriate. 

  

	7.	Changes in Capitalization and Government and Other Regulations. The Award shall be subject to all of the terms and provisions as provided in this Agreement and in the Plan, which are incorporated by
reference herein and made a part hereof, including, without limitation, the provisions of Section 10 of the Plan (generally relating to adjustments to the number of Shares subject to the Award, upon certain changes in capitalization and certain
reorganizations and other transactions). 

  

	8.	Forfeiture. A breach of any of the foregoing restrictions or a breach of any of the other restrictions, terms and conditions of the Plan or this Agreement, with respect to any of the RSUs or any Dividend
Equivalents and Retained Distributions relating thereto, except as waived by the Board or the Committee, will cause a forfeiture of such RSUs and any Dividend Equivalents or Retained Distributions relating thereto. 

 

	9.	 Right of Company to Terminate Employment. Nothing contained in the Plan or this Agreement shall confer on any Participant any right to
continue in the employ of Time Inc. or any of its Affiliates and Time Inc. and any of its Affiliates shall have the right to terminate the Employment of the Participant at any such time, with or without cause,

  
 6 

	 	
notwithstanding the fact that some or all of the RSUs and related Retained Distributions covered by this Agreement may be forfeited as a result of such termination. The granting of the RSUs under
this Agreement shall not confer on the Participant any right to any future Awards under the Plan. 

  

	10.	Notices. Any notice which either party hereto may be required or permitted to give the other shall be in writing and may be delivered personally or by mail, postage prepaid, addressed to Time Warner Inc.,
at One Time Warner Center, New York, NY 10019, attention Director, Global Stock Plans Administration, and to the Participant at his address, as it is shown on the records of the Company or its Affiliate, or in either case to such other address as
the Company or the Participant, as the case may be, by notice to the other may designate in writing from time to time. 

  

	11.	Interpretation and Amendments. The Board and the Committee (to the extent delegated by the Board) have plenary authority to interpret this Agreement and the Plan, to prescribe, amend and rescind rules
relating thereto and to make all other determinations in connection with the administration of the Plan. The Board or the Committee may from time to time modify or amend this Agreement in accordance with the provisions of the Plan, provided that no
such amendment shall adversely affect the rights of the Participant under this Agreement without his consent. 

  

	12.	Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and shall be binding upon and inure to the benefit of the Participant
and his legatees, distributees and personal representatives. 

  

	13.	Copy of the Plan and Documents. By entering into the Agreement, the Participant agrees and acknowledges that he has received and read a copy of the Plan. The Participant acknowledges and agrees that the
Participant may be entitled from time to time to receive certain other documents related to the Company, including the Company’s annual report to stockholders and proxy statement related to its annual meeting of stockholders (which become
available each year approximately three months after the end of the calendar year), and the Participant consents to receive such documents electronically through the Internet or as the Company otherwise directs. 

 

	14.	Governing Law. The Agreement shall be governed by, and construed in accordance with, the laws of the State of New York without regard to any choice of law rules thereof which might apply the laws of any
other jurisdiction. 

  

	15.	Waiver of Jury Trial. To the extent not prohibited by applicable law which cannot be waived, each party hereto hereby waives, and covenants that it will not assert (whether as plaintiff, defendant or
otherwise), any right to trial by jury in any forum in respect of any suit, action, or other proceeding arising out of or based upon this Agreement. 

  

	16.	 Submission to Jurisdiction; Service of Process. Each of the parties hereto hereby irrevocably submits to the jurisdiction of the state
courts of the State of New York located in the County of New York and the jurisdiction of the United States District Court for the Southern District of New York for the purposes of any suit, action or other proceeding arising out of or based upon
this Agreement. Each of the parties hereto to the 

  
 7 

	 	
extent permitted by applicable law hereby waives, and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding brought in such courts, any claim
that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that such suit, action or proceeding in the above-referenced courts is brought in an inconvenient
forum, that the venue of such suit, action or proceedings, is improper or that this Agreement may not be enforced in or by such court. Each of the parties hereto hereby consents to service of process by mail at its address to which notices are to be
given pursuant to paragraph 10 hereof. 

  

	17.	 Personal Data. The Company, the Participant’s local employer and the local employer’s parent company or companies may hold,
collect, use, process and transfer, in electronic or other form, certain personal information about the Participant for the exclusive purpose of implementing, administering and managing the Participant’s participation in the Plan. The
Participant understands that the following personal information is required for the above named purposes: his name, home address and telephone number, office address (including department and employing entity) and telephone number, e-mail address,
date of birth, citizenship, country of residence at the time of grant, work location country, system employee ID, employee local ID, employment status (including international status code), supervisor (if applicable), job code, title, salary, bonus
target and bonuses paid (if applicable), termination date and reason, tax payer’s identification number, tax equalization code, US Green Card holder status, contract type (single/dual/multi), any shares of stock or directorships held in the
Company, details of all grants of RSUs (including number of grants, grant dates, vesting type, vesting dates, and any other information regarding RSUs that have been granted, canceled, vested, or forfeited) with respect to the Participant, estimated
tax withholding rate, brokerage account number (if applicable), and brokerage fees (the “Data”). The Participant understands that Data may be collected from the Participant directly or, on Company’s request, from the
Participant’s local employer. The Participant understands that Data may be transferred to third parties assisting the Company in the implementation, administration and management of the Plan, including the brokers approved by the Company, the
broker selected by the Participant from among such Company-approved brokers (if applicable), tax consultants and the Company’s software providers (the “Data Recipients”). The Participant understands that some of these
Data Recipients may be located outside the Participant’s country of residence, and that the Data Recipient’s country may have different data privacy laws and protections than the Participant’s country of residence. The Participant
understands that the Data Recipients will receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant’s participation in the Plan, including any
requisite transfer of such Data as may be required for the administration of the Plan and/or the subsequent holding of Shares on the Participant’s behalf by a broker or other third party with whom the Participant may elect to deposit any Shares
acquired pursuant to the Plan. The Participant understands that Data will be held only as long as necessary to implement, administer and manage the Participant’s participation in the Plan. The Participant understands that Data may also be made
available to public authorities as required by law, e.g., to the U.S. government. The Participant understands that the Participant may, at any time, review Data and may provide updated Data or corrections to the Data by written notice to the
Company. Except to the extent the 

  
 8 

	 	
collection, use, processing or transfer of Data is required by law, the Participant may object to the collection, use, processing or transfer of Data by contacting the Company in writing. The
Participant understands that such objection may affect his ability to participate in the Plan. The Participant understands that he may contact the Company’s Stock Plan Administration to obtain more information on the consequences of such
objection. 

  

	18.	Conversion of Outstanding RSUs Upon Spin-Off. Promptly following the Spin-off, provided that the Participant remains employed by PublicCo immediately following the Spin-off, the RSUs in the Award that have
not been extinguished pursuant to paragraph 4(b) will be converted into an award of restricted stock units with respect to PublicCo stock, in the same form and subject to the general terms and conditions (including vesting) as were applicable to the
Award immediately prior to the Spin-off, with equitable adjustments, as determined by the Time Inc. board of directors (or duly authorized committee thereof), to the number of shares underlying the PublicCo restricted stock units that, to the extent
practicable, reasonably preserves the intrinsic value (if any) of the RSUs in the Award that have not been extinguished pursuant to paragraph 4(b) as of the date of the Spin-off. 

  
 9Non-Qualified Stock Option Agreement (Ripp)

 Exhibit 10.26 

Time Warner Inc. 2013 Stock Incentive Plan 

Ripp SOP (NQRIPP) 
 For Use
from November 2013 
 TIME WARNER INC. 

NON-QUALIFIED STOCK OPTION AGREEMENT 

WHEREAS, the Company has adopted the Plan (as defined below), the terms of which are hereby incorporated by reference and made a part of this
Agreement; and 
 WHEREAS, the Committee has determined that it would be in the best interests of the Company and its stockholders to grant
the Option provided for herein to the Participant pursuant to the Plan and the terms set forth herein. 
 NOW, THEREFORE, in consideration
of the mutual covenants hereinafter set forth, the parties agree as follows: 
 1. Definitions. Whenever the following terms are used
in this Agreement, they shall have the meanings set forth below. Capitalized terms not otherwise defined herein shall have the same meanings as in the Plan. 

(a) “Disability Termination Date” means a “Disability Termination Date” as defined in the
Employment Agreement. 
 (b) “Employment Agreement” means the employment agreement dated October 31,
2013 between the Participant and Time Inc., as such employment agreement may be amended, superseded or replaced, but not including any amendments or modifications that have the effect of modifying the terms of the Option. 

(c) “Equity Cessation Date” means the “Equity Cessation Date” as defined in the Employment
Agreement. 
 (d) “Expiration Date” means the date set forth on the Notice (as defined below). 

(e) “Notice” means (i) the Notice of Grant of Stock Option that accompanies this Agreement, if such notice
is delivered to the Participant in “hard copy,” and (ii) the screen of the website for the stock plan administration with the heading “Vesting Schedule and Details,” which contains the details of the grant governed by this
Agreement, if such notice is delivered electronically to the Participant. 
 (f) “Participant”
means Joseph A. Ripp. 
 (g) “Plan” means the equity plan maintained by the Company that is specified in the Notice,
which equity plan has been provided to the Participant separately and forms a part of this Agreement, as such plan may be amended, supplemented or modified from time to time. 

(h) “PublicCo” means “PublicCo” as defined in the Employment Agreement. 

(i) “Release Condition” means the release of claims requirement set forth in Section 4.4 of the
Employment Agreement. 

 (j) “Severance Term Date” means “Severance Term Date” as
defined in the Employment Agreement. 
 (k) “Spin-off” means “Spin-off” as defined in the Employment
Agreement. 
 (l) “Term Date” means the “Term Date” as defined in the Employment Agreement. 

(m) “Vested Portion” means, at any time, the portion of an Option which has become vested, as described in
Section 3 of this Agreement. 
 2. Grant of Option. The Company hereby grants to the Participant the right and option
(the “Option”) to purchase, on the terms and conditions hereinafter set forth, the number of Shares set forth on the Notice, subject to adjustment as set forth in the Plan. The purchase price of the Shares subject to the
Option (the “Option Price”) shall be as set forth in the Notice. The Option is intended to be a non-qualified stock option, and as such is not intended to be treated as an option that complies with Section 422 of the
Internal Revenue Code of 1986, as amended. 
 3. Vesting of the Option. 

(a) In General. Subject to Sections 3(b), 3(c) and 3(d), the Option shall vest and become exercisable in five (5) equal
installments on each September 3 from September 3, 2014 through September 3, 2018. 
 (b) Termination of Employment.
If the Participant’s Employment with Time Inc. and its Affiliates terminates for any reason (including, unless otherwise determined by the Committee, the Participant’s change in status from an employee to a non-employee (other than
director of Time Inc. or any Affiliate)), the Option, to the extent not then vested, shall be immediately canceled without consideration; provided, however, that (i) if the Participant’s Employment terminates due to death or
on a Disability Termination Date, the unvested portion of the Option, to the extent not previously canceled or forfeited, shall become vested and exercisable upon the date of the Participant’s death or the Disability Termination Date, as
applicable, and (ii) if the Participant’s Employment is terminated pursuant to Section 4.2 of the Employment Agreement, provided that the Participant satisfies the Release Condition, the unvested portion of the Option, to the extent
not previously canceled or forfeited, shall continue to vest through the earlier of the Severance Term Date and the Equity Cessation Date, and upon the earlier of such dates, the unvested portion of the Option shall become vested and exercisable.
The Vested Portion of the Option shall remain exercisable for the period set forth in Section 4(a) of this Agreement. If the Participant is absent from work with Time Inc. or with an Affiliate because of a temporary disability, or on an
approved leave of absence for any purpose, the Participant shall not, during the period of any such absence and prior to the Disability Termination Date (if any), be deemed, by virtue of such absence alone, to have terminated Employment, except to
the extent that the Committee so determines (any such determination shall be made pursuant to and consistent with the Employment Agreement). The Participant acknowledges for purposes of this Section 3(b) that the Spin-off shall not be treated
as a termination of the Participant’s Employment with Time Inc. and its Affiliates. 

  
 2 

 (c) Change in Subsidiary Status. If (i) Time Inc. ceases to be a direct or indirect
subsidiary of the Company for any reason other than the Spin-off, (ii) the Participant’s Employment with Time Inc. and its Affiliates has not terminated prior to the date Time Inc. ceases to be a direct or indirect subsidiary of the
Company and (iii) the portion of the Option that has not been exercised is not assumed, converted or replaced with substitute awards in connection with the applicable transaction that results in Time Inc. ceasing to be a direct or indirect
subsidiary of the Company (with equitable adjustments that are consistent with those required by Section 18 of this Agreement) (the satisfaction of the conditions described in clauses (i), (ii) and (iii) of this Section 3(c), a
“Change in Subsidiary Status”), then the unvested portion of the Option, to the extent not cancelled or forfeited prior to the date that Time Inc. ceases to be a direct or indirect subsidiary of the Company, shall become vested and
exercisable on such date. The Vested Portion of the Option shall remain exercisable for the period set forth in Section 4(a)(vi). 

(d) Transfers of Employment. If Time Inc. or any Affiliate transfers the Participant’s Employment to a corporation, company or
other entity that is not an Affiliate, then the unvested portion of the Option, to the extent not previously canceled or forfeited, shall immediately become vested and exercisable. The Vested Portion of the Option shall remain exercisable for the
period set forth in Section 4(a)(vi). 
 4. Exercise of Option. 

(a) Period of Exercise. Subject to the provisions of the Plan and this Agreement, and the terms of the Employment Agreement (to the
extent such agreement provides for treatment of the Option that is more favorable to the Participant than clauses (i) – (vi) of this Section 4(a)), the Participant may exercise all or any part of the Vested Portion of the Option
at any time prior to the closing time of trading of the Shares on the primary exchange on which the Shares are listed on the Expiration Date (or 5:00 p.m. Eastern time on the Expiration Date, if earlier). Notwithstanding the foregoing, if the
Participant’s Employment with Time Inc. or an Affiliate terminates prior to the Expiration Date or Section 3(c) or 3(d) becomes applicable, the Vested Portion of the Option shall remain exercisable for the period set forth below. If the
last day on which the Option may be exercised, whether the Expiration Date or due to a termination of the Participant’s Employment prior to the Expiration Date or Section 3(c) or 3(d) becomes applicable, is a Saturday, Sunday or other day
that is not a trading day on the New York Stock Exchange (the “NYSE”) or, if the Company’s Shares are not then listed on the NYSE, such other stock exchange or trading system that is the primary exchange on which the Company’s
Shares are then traded, then the last day on which the Option may be exercised shall be the preceding trading day on the NYSE or such other stock exchange or trading system. 

(i) Death or Disability. If the Participant’s Employment with Time Inc. and its Affiliates terminates due to the
Participant’s death or on a Disability Termination Date, the Participant (or his representative) may exercise the Vested Portion of the Option for a period ending on the earlier of (A) three (3) years following the date of such
termination and (B) the Expiration Date; 
 (ii) Termination of Employment pursuant to Section 4.2 of the
Employment Agreement. If the Participant’s Employment with Time Inc. and its Affiliates is terminated pursuant to Section 4.2 of the Employment Agreement, subject to 

  
 3 

 
the Participant’s satisfaction of the Release Condition, the Participant may exercise the Vested Portion of the Option for a period ending on the earlier of (A) five (5) years
following the earlier of the Severance Term Date and the Equity Cessation Date and (B) the Expiration Date; provided that, if the Participant fails to satisfy the Release Condition, the Vested Portion of the Option shall be exercisable for the
period set forth in Section 4(a)(iii); 
 (iii) Voluntary Termination by the Participant other than pursuant to
Section 4.2 of the Employment Agreement. If the Participant voluntarily terminates his Employment with Time Inc. and its Affiliates other than pursuant to Section 4.2 of the Employment Agreement, the Participant may exercise the Vested
Portion of the Option for a period ending on the earlier of (A) three (3) months following the date of such termination and (B) the Expiration Date; provided that if Time Inc. or an Affiliate has given the Participant notice that the
Participant’s Employment is being terminated pursuant to Section 4.1 of the Employment Agreement prior to the Participant’s election to voluntarily terminate his Employment other than pursuant to Section 4.2 of the Employment
Agreement, then the provisions of Section 4(a)(iv) shall control; 
 (iv) Termination pursuant to Section 4.1 of
the Employment Agreement. If the Participant’s Employment with Time Inc. and its Affiliates is terminated pursuant to Section 4.1 of the Employment Agreement, the Vested Portion of the Option and the unvested portion of the Option
shall immediately terminate in full and cease to be exercisable; 
 (v) After the Term Date. If the Participant’s
Employment with Time Inc. and its Affiliates terminates after the Term Date due to a termination by Time Inc. or an Affiliate other than pursuant to Section 4.1 of the Employment Agreement, the Participant may exercise the Vested Portion of the
Option for a period ending on the earlier of (A) five (5) years following the date of such termination and (B) the Expiration Date; 

(vi) Change in Subsidiary Status or Transfer of Employment. In the case of a Change in Subsidiary Status, or if Time
Inc. or any Affiliate transfers the Participant’s Employment to a corporation, company or other entity that is not an Affiliate, then the Participant may exercise the Vested Portion of the Option for a period ending on the earlier of
(A) five (5) years following the date that Time Inc. ceases to be a direct or indirect subsidiary of the Company or the date of such transfer of Employment and (B) the Expiration Date. 

(b) Method of Exercise. 

(i) Subject to Section 4(a) of this Agreement, the Vested Portion of an Option may be exercised by delivering to the
Company at its principal office written notice of intent to so exercise; provided that the Option may be exercised with respect to whole Shares only. Such notice shall specify the number of Shares for which the Option is being exercised,
shall be signed (whether or not in electronic form) by the person exercising the Option and shall make provision for the payment of the Option Price. Payment of the aggregate Option Price shall be paid to the Company, at the election of

  
 4 

 
the Committee, pursuant to one or more of the following methods: (A) in cash, or its equivalent; (B) by transferring Shares having a Fair Market Value equal to the aggregate Option
Price for the Shares being purchased to the Company and satisfying such other requirements as may be imposed by the Committee; (C) partly in cash and partly in Shares; or (D) if there is a public market for the Shares at such time, subject
to such rules as may be established by the Committee, through delivery of irrevocable instructions to a broker to sell the Shares otherwise deliverable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the
aggregate Option Price. The Participant shall not have any rights to dividends or other rights of a stockholder with respect to the Shares subject to the Option until the issuance of the Shares. 

(ii) Notwithstanding any other provision of the Plan or this Agreement to the contrary, absent an available exemption to
registration or qualification, the Option may not be exercised prior to the completion of any registration or qualification of the Option or the Shares under applicable state and federal securities or other laws, or under any ruling or regulation of
any governmental body or national securities exchange that the Committee shall in its sole reasonable discretion determine to be necessary or advisable. 

(iii) Upon the Company’s determination that the Option has been validly exercised as to any of the Shares, the Company
shall issue certificates in the Participant’s name for such Shares or register the Participant’s ownership of such Shares electronically. However, the Company shall not be liable to the Participant for damages relating to any delays in
issuing the Shares to the Participant, any loss by the Participant of the certificates, or any mistakes or errors in the issuance of the certificates or in the certificates themselves. 

(iv) In the event of the Participant’s death, the Vested Portion of an Option shall remain vested and exercisable by the
Participant’s executor or administrator, or the person or persons to whom the Participant’s rights under this Agreement shall pass by will or by the laws of descent and distribution as the case may be, to the extent set forth in
Section 4(a) of this Agreement. Any heir or legatee of the Participant shall take rights herein granted subject to the terms and conditions hereof. 

5. No Right to Continued Employment or Future Grants of Options. The Participant understands that nothing contained herein constitutes
an employment contract and neither the Plan nor this Agreement shall be construed as giving the Participant the right to be retained in the Employment of Time Inc. or any Affiliate. Further, Time Inc. or its Affiliate may at any time dismiss the
Participant or discontinue any other relationship, free from any liability or any claim under the Plan or this Agreement, except as otherwise expressly provided herein. The Participant also agrees and acknowledges that grants of Options under the
Plan are discretionary and any grant of Options under the Plan does not imply or create any obligation on the part of the Company to make any future grants of Options to the Participant. 

6. Legend on Certificates. The certificates representing the Shares purchased by exercise of an Option shall be subject to such stop
transfer orders and other restrictions as the Committee may deem reasonably advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such

  
 5 

 
Shares are listed, any applicable federal or state laws and the Company’s Articles of Incorporation and Bylaws, and the Committee may cause a legend or legends to be put on any such
certificates to make appropriate reference to such restrictions. 
 7. Transferability. Unless otherwise determined by the Committee,
an Option may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant otherwise than by will or by the laws of descent and distribution, and any such purported assignment, alienation, pledge,
attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate. 
 8. Withholding.
The Participant may be required to pay to the Company or its Affiliate and the Company or its Affiliate shall have the right and is hereby authorized to withhold from any payment due or transfer made under the Option or under the Plan or from any
compensation or other amount owing to a Participant the amount (in cash, Shares, other securities, other Awards or other property) of any applicable withholding taxes in respect of the Option, its exercise, or any payment or transfer under the
Option or under the Plan and to take such action as may be necessary in the option of the Company to satisfy all obligations for the payment of such taxes. 

9. Securities Laws. Upon the acquisition of any Shares pursuant to the exercise of an Option, the Participant will make or enter into
such written representations, warranties and agreements as the Committee may reasonably request in order to comply with applicable securities laws or with this Agreement. 

10. Notices. Any notice under this Agreement shall be addressed to the Company in care of its General Counsel at the principal
executive office of the Company, with a copy to the Director, Global Stock Plans Administration, at the principal executive office of the Company, and to the Participant at the address appearing in the personnel records of the Company for the
Participant or to either party at such other address as either party hereto may hereafter designate in writing to the other. Any such notice shall be deemed effective upon receipt thereof by the addressee. 

11. Personal Data. The Company, the Participant’s local employer and the local employer’s parent company or companies may
hold, collect, use, process and transfer, in electronic or other form, certain personal information about the Participant for the exclusive purpose of implementing, administering and managing the Participant’s participation in the Plan.
Participant understands that the following personal information is required for the above named purposes: his name, home address and telephone number, office address (including department and employing entity) and telephone number, e-mail address,
date of birth, citizenship, country of residence at the time of grant, work location country, system employee ID, employee local ID, employment status (including international status code), supervisor (if applicable), job code, title, salary, bonus
target and bonuses paid (if applicable), termination date and reason, tax payer’s identification number, tax equalization code, US Green Card holder status, contract type (single/dual/multi), any shares of stock or directorships held in the
Company, details of all stock option grants (including number of grants, grant dates, exercise price, vesting type, vesting dates, expiration dates, and any other information regarding options that have been granted, canceled, vested, unvested,
exercisable, exercised or outstanding) with respect to the Participant, estimated tax withholding rate, brokerage account number (if applicable), and brokerage fees (the “Data”).

  
 6 

 
Participant understands that Data may be collected from the Participant directly or, on Company’s request, from Participant’s local employer. Participant understands that Data may
be transferred to third parties assisting the Company in the implementation, administration and management of the Plan, including the brokers approved by the Company, the broker selected by the Participant from among such Company-approved brokers
(if applicable), tax consultants and the Company’s software providers (the “Data Recipients”). Participant understands that some of these Data Recipients may be located outside the Participant’s country of
residence, and that the Data Recipient’s country may have different data privacy laws and protections than the Participant’s country of residence. Participant understands that the Data Recipients will receive, possess, use, retain and
transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant’s participation in the Plan, including any requisite transfer of such Data as may be required for the administration of
the Plan and/or the subsequent holding of shares of common stock on the Participant’s behalf by a broker or other third party with whom the Participant may elect to deposit any shares of common stock acquired pursuant to the Plan. Participant
understands that Data will be held only as long as necessary to implement, administer and manage the Participant’s participation in the Plan. Participant understands that Data may also be made available to public authorities as required by law,
e.g., to the U.S. government. Participant understands that the Participant may, at any time, review Data and may provide updated Data or corrections to the Data by written notice to the Company. Except to the extent the collection, use, processing
or transfer of Data is required by law, Participant may object to the collection, use, processing or transfer of Data by contacting the Company in writing. Participant understands that such objection may affect his ability to participate in the
Plan. Participant understands that he may contact the Company’s Stock Plan Administration to obtain more information on the consequences of such objection. 

12. Governing Law; Submission to Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the
State of New York, without regard to conflicts of laws, and any and all disputes between the Participant and the Company or any Affiliate relating to the Option shall be brought only in a state or federal court of competent jurisdiction sitting in
Manhattan, New York, and the Participant and the Company and any Affiliate hereby irrevocably submit to the jurisdiction of any such court and irrevocably agree that venue for any such action shall be only in any such court. 

13. Entire Agreement. This Agreement, together with the Notice, the Plan and the applicable provisions of the Employment Agreement,
embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement,
representation, warranty, covenant or agreement not expressly set forth in this Agreement or the Notice shall affect or be used to interpret, change or restrict, the express terms and provisions of this Agreement or the Notice; provided, that
this Agreement and the Notice shall be subject to and governed by the Plan, and in the event of any inconsistency between the provisions of this Agreement or the Notice and the provisions of the Plan, the provisions of the Plan shall govern;
provided further that the provisions of the Employment Agreement shall govern to the extent set forth above. 
 14.
Modifications And Amendments. The terms and provisions of this Agreement and the Notice may be modified or amended as provided in the Plan. 

  
 7 

 15. Waivers And Consents. Except as provided in the Plan, the terms and provisions of this
Agreement and the Notice may be waived, or consent for the departure therefrom granted, only by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall
constitute a waiver or consent with respect to any other terms or provisions of this Agreement or the Notice, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was
given, and shall not constitute a continuing waiver or consent. 
 16. Reformation; Severability. If any provision of this Agreement
or the Notice (including any provision of the Plan or the Employment Agreement that is incorporated herein by reference) shall hereafter be held to be invalid, unenforceable or illegal, in whole or in part, in any jurisdiction under any
circumstances for any reason, (i) such provision shall be reformed to the minimum extent necessary to cause such provision to be valid, enforceable and legal while preserving the intent of the parties as expressed in, and the benefits of the
parties provided by, this Agreement, the Notice and the Plan or (ii) if such provision cannot be so reformed, such provision shall be severed from this Agreement or the Notice and an equitable adjustment shall be made to this Agreement or the
Notice (including, without limitation, addition of necessary further provisions) so as to give effect to the intent as so expressed and the benefits so provided. Such holding shall not affect or impair the validity, enforceability or legality of
such provision in any other jurisdiction or under any other circumstances. Neither such holding nor such reformation or severance shall affect the legality, validity or enforceability of any other provision of this Agreement, the Notice or the Plan.

 17. Entry into Force. By entering into this Agreement, the Participant agrees and acknowledges that (i) the Participant has
received and read a copy of the Plan and (ii) the Option is granted pursuant to the Plan and is therefore subject to all of the terms of the Plan. The Participant acknowledges and agrees that the Participant may be entitled from time to time to
receive certain other documents related to the Company, including the Company’s annual report to stockholders and proxy statement related to its annual meeting of stockholders (which become available each year approximately three months after
the end of the calendar year), and the Participant consents to receive such documents electronically through the Internet or as the Company otherwise directs. 

18. Conversion of Unexercised Option Upon Spin-Off. Promptly following the Spin-off, provided that the Participant remains employed by
PublicCo immediately following the Spin-off, the unexercised portion of the Option, whether vested or unvested, will be converted into an award of options to purchase PublicCo stock, in the same form and subject to the general terms and conditions
(including vesting) as were applicable to the Option immediately prior to the Spin-off, with equitable adjustments, as determined by the Time Inc. board of directors (or duly authorized committee thereof), to the number of shares underlying the
option to purchase PublicCo shares and the purchase price of the PublicCo shares subject to the option, in each case, that, to the extent practicable, reasonably preserves the intrinsic value (if any) of the unexercised portion of the Option as of
the date of the Spin-off. 

  
 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00230-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00230-of-00352.parquet"}]]