Document:

Form of Option Substitution Agreement

 Exhibit 10.13 
 NATIONAL CINEMEDIA, INC. 
 2007 EQUITY INCENTIVE PLAN 
 OPTION SUBSTITUTION AWARD 
 On
            , 2007 (the “Effective Date”), National CineMedia, Inc., a Delaware corporation (the “Company”), completed an initial public offering of
shares of common stock, $0.01 par value per share, of the Company (“Stock”) (the “IPO”). On the date of the IPO, the individual named below (“Optionee”) held one or more outstanding options to
purchase class A units of National CineMedia, LLC, a Delaware limited liability company (the “NCM LLC Option”). Pursuant to Section 14.3 of the NCM LLC 2006 Unit Option Plan, as amended (the “LLC Plan”), upon
the completion of the IPO the NCM LLC Option is being exchanged for and substituted with an option to purchase shares of Stock (the “NCM Inc. Option”). This Option Substitution Award (the “Award”) evidences the
terms of the NCM Inc. Option granted under the National CineMedia, Inc. 2007 Equity Incentive Plan (the “Plan”) in substitution for an NCM LLC Option, as previously adjusted by the adjustments provided for in Section 14 of the
LLC Plan, and the cancellation of the NCM LLC Option. 
  

			
	 Name of Optionee:
	  	 
		
	 Vesting Start Date:
	  	 
		
	 Expiration Date:
	  	 
	
	 Type of Option: Non-Qualified Stock Option

 The table below summarizes the option immediately before and after the IPO: 
  

											
	 NCM LLC Option
	 	  	    	 NCM Inc. Option

	 Grant Date
	  	 No. of Units
 of NCM LLC
	  	 Exercise Price per
 Unit
	 	  	    	 No. of shares of
 NCM Inc. Stock
	  	 Exercise Price per
 share of Stock

		  		  		 	 	    		  	

 A. ADJUSTMENTS AND SUBSTITUTION 
 1. Split of Units. Pursuant to Section 14.1 of the LLC Plan, the number of units covered by the unexercised portion of the NCM LLC Option and
the option exercise price per unit have been proportionately adjusted in connection with a split of units effected without receipt of consideration by NCM LLC. 

 2. Extraordinary Cash Distribution. Pursuant to Section 14.1 of the LLC Plan, the number of
units covered by the unexercised portion of the NCM LLC Option and the option exercise price per unit have been proportionately adjusted in connection with an extraordinary cash distribution made pursuant to the issuance and subsequent redemption of
preferred units to the founding members of NCM LLC effected without receipt of consideration by NCM LLC. 
 3. Tax Law Requirements.
The adjustments provided for in Section 14 of the LLC Plan result in an option exchange ratio of 1:1. The adjustments and substitution are intended to comply with federal tax law requirements to avoid being considered a modification of the
original option for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), as applicable: 
 (a) The total spread (the excess of the aggregate fair market value of the shares (or units) subject to the option over the aggregate option exercise price) of the NCM Inc. Option cannot exceed the total spread of the NCM LLC Option that
existed immediately prior to the issuance of the NCM Inc. Option; 
 (b) On a share by share comparison, the ratio of the option exercise
price to the fair market value of the shares subject to the NCM Inc. Option immediately after the substitution cannot be greater than the ratio of the option exercise price to the fair market value of the units subject to the NCM LLC Option that
existed immediately prior to the substitution; 
 (c) The NCM Inc. Option must contain all terms of the NCM LLC Option, except to the extent
such terms are rendered inoperative by the corporate transaction; 
 (d) The NCM Inc. Option must not provide the option holder additional
benefits that the option holder did not have under the NCM LLC Option; and 
 (e) In connection with the substitution and the receipt of the
NCM Inc. Option, all rights of the option holder under the NCM LLC Option must be cancelled. 
 4. Other Adjustments. The number of
units subject to the NCM LLC Option on the Effective Date was determined by rounding the amount determined after the adjustments down to the next whole number of units. The exercise price per unit of the NCM LLC Option on the Effective Date was
determined by rounding the amount determined after the adjustments up to the next whole cent. 
 5. Substitution. Pursuant to
Section 14.3 of the LLC Plan, upon the occurrence of the IPO, each outstanding NCM LLC Option shall be exchanged for an NCM Inc. Option pursuant to a fixed exchange ratio of 1:1, and following the exchange, the NCM LLC Option shall be
cancelled. 
 B. STOCK OPTION AWARD 
 1. Grant of Option. Subject to the terms and conditions of this Award and the Plan, the Company hereby grants to Optionee, an Option to purchase the number of shares of Stock, at the Exercise Price (each as set
forth on the cover page of this Award), and subject to the terms and conditions of the Plan, which is incorporated herein by reference. In the event of a conflict 

  

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between the terms and conditions of the Plan and this Award, the terms and conditions of the Plan shall govern, except to the extent the Plan would be
considered to provide for an additional benefit as determined under Section 409A of the Code. All capitalized terms in this Award shall have the meaning assigned to them in this Award or in the Plan. 
 2. Type of Option. This Option is a Non-Qualified Stock Option. 
 3. Vesting. The Option is only exercisable, in whole or in part, before it expires and then only with respect to the vested portion
of the Option. Subject to the preceding sentence, Optionee may exercise this Option, by following the procedures set forth in this Award. 
 Except as provided otherwise in this Award and the Plan (including but not limited to Section 14.2 of the Plan which provides for accelerated vesting upon certain terminations in connection with a Change of Control), Optionee’s
right to purchase shares of Stock under this Option vests as to one-fifth ( 1/5) of the total number of
shares covered by this Option, on the one-year anniversary of the Vesting Start Date (“Anniversary Date”), provided Optionee then continues in Service. Thereafter for each such Anniversary Date that Optionee remains in Service, the
number of shares of Stock covered by the Option shall vest at the rate of one-fifth ( 1/5) of the shares
following the Anniversary Date, as set forth below: 
  

					
	 Service Vesting Date
	 	 Percentage of
 Shares that Vest
	 	 Number of
 Shares that Vest

		 		 	
		 		 	
		 		 	
		 		 	
		 		 	

 No additional shares will vest after Optionee’s termination of Service for any reason. 
 4. Option Term; Expiration Date. This Option shall have a maximum term of fifteen (15) years measured from the original Grant Date (as set
forth in the table on the cover sheet of this Award) and shall accordingly expire at the close of business at Company headquarters on the fifteenth anniversary of the Grant Date, unless sooner terminated in accordance with Section 5 of this
Award (the “Expiration Date”). 
 5. Termination of Service; Expiration of Option. If Optionee
terminates Service with the Company and its Affiliates prior to the Expiration Date, the following shall apply: 
 (a) By the Company
Without Cause or By Optionee for Good Reason. If Optionee’s Service is terminated by the Company or its Affiliate without Cause or Optionee terminates Service for Good Reason, then the vested portion of the Option will expire
at the close of business at Company headquarters on the 90th day after Optionee terminates Service, but 

 

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in no event after the Expiration Date. The unvested portion of the Option automatically expires on the date of termination of Service. Section 14.2 of
the Plan provides for accelerated vesting upon certain conditions in connection with a Change of Control. 
 (b) By Optionee Without Good
Reason. If Optionee terminates Service without Good Reason, then Optionee shall immediately forfeit all rights to the Option (whether or not vested) and the Option shall immediately expire on the date of termination of Service.

 (c) Termination for Cause. If Optionee’s Service is terminated by the Company or an Affiliate for Cause, then Optionee shall
immediately forfeit all rights to the Option (whether or not vested) and the Option shall immediately expire on the date of termination of Service. 
 (d) Disability. If Optionee terminates Service because of Optionee’s Disability, then the vested portion of the Option will expire at the close of business at Company headquarters on the date twelve
(12) months after Optionee’s termination of Service, but in no event after the Expiration Date. The unvested portion of the Option automatically expires on the date of termination of Service. 
 (e) Death. If Optionee terminates Service because of Optionee’s death, then the vested portion of the Option will expire at the
close of business at Company headquarters on the date twelve (12) months after the date of death, but in no event after the Expiration Date. During that twelve (12) month period, Optionee’s estate or heirs may exercise the vested
portion of the Option. The unvested portion of the Option automatically expires on the date of termination of Service. In addition, if Optionee dies during the 90-day period described in subsection 5(a), and a vested portion of the Option has not
yet been exercised, then the vested portion of the Option will instead expire on the date twelve (12) months after Optionee’s termination of Service, but in no event after the Expiration Date. In such a case, during the period following
Optionee’s death up to the date twelve (12) months after termination of Service, Optionee’s estate or heirs may exercise the vested portion of the Option. 
 6. Leave of Absence. For purposes of the Option, Service does not terminate when Optionee goes on a bona fide employee leave of absence that was approved by the Company or an Affiliate in writing, if the
terms of the leave provide for continued Service crediting, or when continued Service crediting is required by applicable law. However, Service will be treated as terminating 90 days after Optionee went on the approved leave, unless Optionee’s
right to return to active work is guaranteed by law or by a contract. Service terminates in any event when the approved leave ends unless Optionee immediately returns to active Service. The Committee determines, in its sole discretion, which leaves
of absence count for this purpose, and when Service terminates for all purposes under the Plan. 
 7. Option Exercise. 
 (a) Right to Exercise. The Option shall be exercisable on or before the Expiration Date in accordance with the vesting schedule set forth in
Section 3. 
 (b) Notice of Exercise. The Option shall be exercised by delivery of written notice to the Committee
(or an officer of the Company designated by the Committee) on any 

  

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business day, at the Company’s principal office, on the form specified by the Company. The notice shall specify the number of shares of Stock to be
purchased, accompanied by full payment of the Exercise Price for the shares being purchased. The notice must also specify how the shares should be registered (in the name of Optionee or in both the names of Optionee and Optionee’s spouse as
joint tenants with right of survivorship). The notice of exercise will be effective when it is received by the Company. Anyone exercising the Option after the death of Optionee must provide appropriate documentation to the satisfaction of the
Company that the individual is entitled to exercise the Option. 
 (c) Payment of Exercise Price. Payment of the
Exercise Price for the number of shares of Stock being purchased in full shall be made in one (or a combination) of the following forms: 
 (i) Cash or cash equivalents acceptable to the Company. 
 (ii) Shares of Stock which have already been owned by Optionee
(purchased on the open market or owned for at least six months or such other period designated by the Committee) which are surrendered to the Company. The Fair Market Value of the shares, determined as of the effective date of the Option exercise,
will be applied to the Exercise Price. 
 (iii) To the extent a public market for the shares of Stock exists as determined by the Company,
by delivery (on a form prescribed by the Company) of an irrevocable direction to a licensed securities broker acceptable to the Company to sell shares and to deliver all or part of the sale proceeds to the Company in payment of the aggregate
Exercise Price and any withholding taxes. 
 8. Tax Withholding. The Company or any Affiliate shall have the right to deduct from
payments of any kind otherwise due to Optionee, any federal, state, local or foreign taxes of any kind required by law to be withheld upon the issuance of any shares of Stock or payment of any kind upon the exercise of this Option. Subject to the
prior approval of the Committee, which may be withheld by the Committee, in its sole discretion, Optionee may elect to satisfy the minimum statutory withholding obligations, in whole or in part, (i) by having the Company withhold shares of
Stock otherwise issuable to Optionee or (ii) by delivering to the Company shares of Stock already owned by Optionee. The shares delivered or withheld shall have an aggregate Fair Market Value not in excess of the minimum statutory total tax
withholding obligations. The Fair Market Value of the shares used to satisfy the withholding obligation shall be determined by the Company as of the date that the amount of tax to be withheld is to be determined. Shares used to satisfy any tax
withholding obligation must be vested and cannot be subject to any repurchase, forfeiture, or other similar requirements. Any election to withhold shares shall be irrevocable, made in writing, signed by Optionee, and shall be subject to any
restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 
 9. Transfer of Option. During
Optionee’s lifetime, only Optionee (or, in the event of Optionee’s legal incapacity or incompetency, Optionee’s guardian or legal representative) may exercise the Option. Optionee cannot transfer or assign the Option. Upon any attempt
to transfer or assign the Option, the Option will immediately become invalid. Regardless of any marital property settlement agreement, the Company is not obligated to honor a notice of exercise from Optionee’s spouse, nor is the Company
obligated to recognize Optionee’s spouse’s interest in the Option in any other way. 
  

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 10. Market Stand-Off Agreement. In connection with the IPO, Optionee agrees not to sell, make any
short sale of, loan, hypothecate, pledge, grant any option for the purchase of, or otherwise dispose or transfer for value or agree to engage in any of the foregoing transactions with respect to any shares of Stock without prior written consent of
the Company or its underwriters, for such period of time after the effective date of the IPO registration statement under the Securities Act as may be requested by the Company or the underwriters (not to exceed 180 days in length). 
 11. Investment Representations. The Committee may require Optionee (or Optionee’s estate or heirs) to represent and warrant in writing that
the individual is acquiring the shares of Stock for investment and without any present intention to sell or distribute such shares and to make such other representations as are deemed necessary or appropriate by the Company and its counsel.

 12. Continued Service. Neither the grant of the Option nor this Award gives Optionee the right to continue Service with the Company
or its Affiliates in any capacity. The Company and its Affiliates reserve the right to terminate Optionee’s Service at any time and for any reason not prohibited by law. 
 13. Stockholder Rights. Optionee and Optionee’s estate or heirs shall not have any rights as a stockholder of the Company until Optionee
becomes the holder of record of such shares of Stock, and no adjustments shall be made for dividends or other distributions or other rights as to which there is a record date prior to the date Optionee becomes the holder of record of such shares,
except as provided in Section 14 of the Plan. 
 14. Adjustments. The number of shares of Stock outstanding under this
Option 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 the Option shall not increase the aggregate Exercise Price payable with
respect to shares that are subject to the unexercised portion of the outstanding Option and the adjustment shall comply with the requirements under Section 409A of the Code as set forth in part A, Section 3 of this Award. The conversion of
any convertible securities of the Company shall not be treated as an increase in shares effected without receipt of consideration. In the event of any distribution to the Company’s stockholders of an extraordinary cash dividend or securities of
any other entity or other assets (other than ordinary dividends payable in cash or shares of Stock) without receipt of consideration by the Company, the Company shall proportionately adjust (a) the number and kind of shares subject to this
Option and/or (b) the Exercise Price of this Option to reflect such distribution. 
 15. Additional Requirements. Optionee
acknowledges that shares of Stock acquired upon exercise of the Option may bear such legends, as the Company deems appropriate to comply with applicable federal, state or foreign securities laws. In connection therewith and prior to the issuance of
the shares, Optionee may be required to deliver to the Company such other documents as may be reasonably necessary to ensure compliance with applicable laws. 
  

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 16. Governing Law. The validity and construction of this Award and the Plan 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 the Plan and this Award to the substantive laws of any other
jurisdiction. 
 17. Binding Effect. This Award shall be binding upon and inure to the benefit of the Company and Optionee and their
respective heirs, executors, administrators, legal representatives, successors and assigns. 
 18. Tax Treatment;
Section 409A. Optionee may incur tax liability as a result of the exercise of the Option or the disposition of shares of Stock. Optionee should consult his or her own tax adviser before exercising the Option or disposing of
the shares. 
 Optionee acknowledges that the Committee, in the exercise of its sole discretion and without Optionee’s consent, may
amend or modify the Option and this Award in any manner and delay the payment of any amounts payable pursuant to this Award to the minimum extent necessary to satisfy the requirements of Section 409A of the Code. The Company will provide
Optionee with notice of any such amendment or modification. 
 19. Amendment. The terms and conditions set forth in this Award may
only be amended by the written consent of the Company and Optionee, except to the extent set forth in Section 18 hereof regarding Section 409A of the Code and any other provision set forth in the Plan. 
 20. 2007 Equity Incentive Plan. The Option and shares of Stock acquired upon exercise of the Option granted hereunder shall be subject to such
additional terms and conditions as may be imposed under the terms of the Plan, a copy of which has been provided to Optionee. 
  

			
	NATIONAL CINEMEDIA, INC.
		
	By:	 	  

		 	Kurt C. Hall
		 	President and Chief Executive Officer
		
	Date:	 	  

 Attachments: 
 2007 Equity Incentive Plan 
 Form S-8 Prospectus 
  

 7Form of Restricted Stock Substitution Agreement

 Exhibit 10.14 
 NATIONAL CINEMEDIA, INC. 
 2007 EQUITY INCENTIVE PLAN 
 RESTRICTED STOCK SUBSTITUTION AWARD 
 On             , 2007 (the “Effective Date”), National CineMedia, Inc., a Delaware corporation (the “Company”), completed an initial public
offering of shares of common stock, $0.01 par value per share, of the Company (“Stock”) (the “IPO”). On the Effective Date, pursuant to Section 14.6 of the National CineMedia, LLC (“NCM LLC”)
2006 Unit Option Plan, as amended (the “LLC Plan”), the individual named below (“Grantee”) was granted restricted units of NCM LLC (the “IPO Restricted Units”). Pursuant to Section 14.3 of the
LLC Plan, upon the completion of the IPO the IPO Restricted Units are being exchanged for and substituted with a grant of shares of Restricted Stock issued under the National CineMedia, Inc. 2007 Equity Incentive Plan (the “Plan”).
This Restricted Stock Substitution Award (the “Award”) evidences the terms of the Company’s grant of Restricted Stock to Grantee in substitution for the grant of IPO Restricted Units and the cancellation of the IPO Restricted
Units. 
 A. NOTICE OF GRANT 
 Name of
Grantee:                      
 Number of
Shares of Restricted Stock:                      
 Grant Date:                      
 Vesting Start Date:                      
 Vesting Schedule: Except as provided otherwise in this Award or the Plan (including but not limited to Section 14.2 of the Plan which provides for accelerated vesting upon certain terminations in connection with a Change of
Control), subject to Grantee’s continuous Service, the Restricted Stock shall vest and the restrictions set forth in Section 2 of this Award shall lapse as follows: 
  

					
	 Service Vesting Date
	 	 Percentage of
 Shares that Vest
	 	 Number of
 Shares that Vest

 B. IPO AWARD AND SUBSTITUTION 
 1. IPO Award. Pursuant to Section 14.6 of the LLC Plan, in connection with certain reorganization transactions of NCM LLC and the IPO, the
Board of Directors of NCM LLC approved the grant of IPO Restricted Units to holders of outstanding options of NCM LLC immediately prior to the IPO to maintain the economic position of each such option holder immediately prior to the reorganization
transactions. 
 2. Substitution. Pursuant to Section 14.3 of the LLC Plan, upon the occurrence of the IPO, outstanding IPO
Restricted Units shall be exchanged for a grant of Restricted Stock, the number of shares of Restricted Stock shall be determined pursuant to a fixed exchange ratio 1:1, and following the exchange, the IPO Restricted Units issued under the LLC Plan
shall be cancelled. 
 3. Award. In contemplation of the exchange of the IPO Restricted Units for shares of Restricted Stock
immediately upon completion of the IPO, this Award sets forth the terms of the Restricted Stock granted in substitution of the IPO Restricted Units and confirms the cancellation of the IPO Restricted Units. 
 C. RESTRICTED STOCK AWARD 
 1.
Grant of Restricted Stock. Subject to the terms and conditions of this Award and the Plan, the Company hereby grants to Grantee, the number of shares of Restricted Stock set forth in the Notice of Grant, effective on the Grant Date set forth
in the Notice of Grant, and subject to the terms and conditions of the Plan, which is incorporated herein by reference. In the event of a conflict between the terms and conditions of the Plan and this Award, the terms and conditions of the Plan
shall govern. All capitalized terms in this Award shall have the meaning assigned to them in this Award or in the Plan. 
 2. Forfeiture
Restrictions. Grantee shall not sell, transfer, assign, pledge or otherwise encumber or dispose of, by operation of law or otherwise, the Restricted Stock for the period commencing on the Grant Date and ending on the dates
described in the Vesting Schedule set forth in the Notice of Grant (the “Restriction Period”). Upon vesting, the restrictions in this Section 2 shall lapse and Grantee may transfer the shares of Stock in accordance with
applicable securities law requirements. 
 3. Vesting; Lapse of Restrictions. Except as provided otherwise in this Award
and the Plan (including but not limited to Section 14.2 of the Plan which provides for accelerated vesting upon certain terminations in connection with a Change of Control), if Grantee has been in continuous Service since the Grant Date, the
Restricted Stock shall vest as set forth on the Vesting Schedule in the Notice of Grant. Grantee shall forfeit the unvested portion of the Restricted Stock upon termination of Service. 
 4. Dividends. During the Restriction Period, Grantee shall be entitled to receive regular cash dividends declared and paid with respect to shares
of Restricted Stock. Grantee shall not be entitled to receive a special or extraordinary cash dividend or distribution during the Restriction Period. All shares distributed, if any, received by Grantee with respect to shares of Restricted Stock as a
result of any split, stock dividend, combination of shares of stock, or other similar transaction shall be subject to the same restrictions during the Restriction Period as the related shares of Restricted Stock. 
  

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 5. Termination of Service. Upon the termination of Grantee’s Service, any shares of
Restricted Stock held by Grantee that have not vested, or with respect to which all applicable restrictions and conditions have not lapsed, shall immediately be forfeited. Upon forfeiture of the shares of Restricted Stock, Grantee shall have no
further rights with respect to such shares, including but not limited to any right to vote the shares or any right to receive dividends. Section 14.2 of the Plan provides for accelerated vesting with respect to certain terminations in
connection with a Change of Control. 
 6. Leave of Absence. For purposes of the Restricted Stock, Service does not terminate when
Grantee goes on a bona fide employee leave of absence that was approved by the Company or an Affiliate in writing, if the terms of the leave provide for continued Service crediting, or when continued Service crediting is required by
applicable law. However, Service will be treated as terminating 90 days after Grantee went on the approved leave, unless Grantee’s right to return to active work is guaranteed by law or by a contract. Service terminates in any event when the
approved leave ends unless Grantee immediately returns to active Service. The Committee determines, in its sole discretion, which leaves of absence count for this purpose, and when Service terminates for all purposes under the Plan. 
 7. Purchase and Delivery of Shares. Grantee shall be required, to the extent required by applicable law, to purchase the shares of Restricted
Stock from the Company at the aggregate par value of the shares of Stock represented by such Restricted Stock (the “Purchase Price”). The Purchase Price shall be payable in cash or in cash equivalents acceptable to the Company. Upon
the expiration or termination of the Restriction Period, the restrictions applicable to Restricted Stock shall lapse, and, a certificate for such shares of Stock shall be delivered, free of all such restrictions, to Grantee or Grantee’s
beneficiary or estate, as the case may be. Notwithstanding anything in this Award to the contrary, the Company may elect to satisfy any requirement for the delivery of stock certificates through the use of book-entry. 
 8. Enforcement of Restrictions. All certificates representing shares of Restricted Stock shall include applicable restrictive legends regarding
restrictions on transfer and compliance with securities law requirements, as determined by the Committee. 
 9. Tax Withholding. The
Company or any Affiliate shall have the right to deduct from payments of any kind otherwise due to Grantee, any federal, state, local or foreign taxes of any kind required by law to be withheld upon the issuance, vesting or payment of any shares of
Stock or dividends. Subject to the prior approval of the Committee, which may be withheld by the Committee, in its sole discretion, Grantee may elect to satisfy the minimum statutory withholding obligations, in whole or in part, (i) by having
the Company withhold shares of Stock otherwise issuable to Grantee or (ii) by delivering to the Company shares of Stock already owned by Grantee. The shares delivered or withheld shall have an aggregate Fair Market Value not in excess of the
minimum statutory total tax withholding obligations. The Fair Market Value of the shares used to satisfy the withholding obligation shall be determined by the Company as of the date that the amount of tax to be withheld is to be determined. Shares
used to satisfy any tax withholding obligation must be vested and cannot be subject to any repurchase, forfeiture, or 

  

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other similar requirements. Any election to withhold shares shall be irrevocable, made in writing, signed by Grantee, and shall be subject to any
restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 
 10. Effect of Prohibited Transfer. If
any transfer of shares is made or attempted to be made contrary to the terms of this Award, the Company shall have the right to acquire for its own account, without the payment of any consideration, such shares from the owner thereof or his
transferee, at any time before or after such prohibited transfer. In addition to any other legal or equitable remedies it may have, the Company may enforce its rights to specific performance to the extent permitted by law and may exercise such other
equitable remedies then available. The Company may refuse for any purpose to recognize any transferee who receives shares contrary to the provisions of this Award as a stockholder of the Company and may retain and/or recover all dividends on such
shares that were paid or payable subsequent to the date on which the prohibited transfer was made or attempted. 
 11. Market Stand-Off
Agreement. In connection with the IPO, Grantee agrees not to sell, make any short sale of, loan, hypothecate, pledge, grant any option for the purchase of, or otherwise dispose or transfer for value or agree to engage in any of the foregoing
transactions with respect to any shares of Stock without prior written consent of the Company or its underwriters, for such period of time after the effective date of the IPO registration statement under the Securities Act as may be requested by the
Company or the underwriters (not to exceed 180 days in length). 
 12. Investment Representations. The Committee may require Grantee
(or Grantee’s estate or heirs) to represent and warrant in writing that the individual is acquiring the shares of Stock for investment and without any present intention to sell or distribute such shares and to make such other representations as
are deemed necessary or appropriate by the Company and its counsel. 
 13. Continued Service. Neither the grant of shares of
Restricted Stock nor this Award gives Grantee the right to continue Service with the Company or its Affiliates in any capacity. The Company and its Affiliates reserve the right to terminate Grantee’s Service at any time and for any reason not
prohibited by law. 
 14. Governing Law. The validity and construction of this Award and the Plan 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 the Plan and this Award to the substantive laws of any other
jurisdiction. 
 15. Binding Effect. This Award shall be binding upon and inure to the benefit of the Company and Grantee and their
respective heirs, executors, administrators, legal representatives, successors and assigns. 
 16. Tax Treatment; Section 83(b);
Section 409A. Grantee may incur tax liability as a result of the vesting of shares of Restricted Stock and payment of dividends or the disposition of shares of Stock. Grantee should consult his or her own tax adviser for tax
advice. 
  

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 Grantee hereby acknowledges that Grantee has been informed that he or she may file with the Internal
Revenue Service, within 30 days of the Grant Date, an irrevocable election pursuant to Section 83(b) of the Code to be taxed as of the Grant Date on the amount by which the Fair Market Value of the Restricted Stock on that date exceeds the
Purchase Price. If Grantee chooses to file an election under Section 83(b) of the Code, Grantee hereby agrees to promptly deliver a copy of any such election to the Chief Financial Officer of the Company (or his designee). 
 Grantee acknowledges that the Committee, in the exercise of its sole discretion and without Grantee’s consent, may amend or modify this Award in any
manner and delay the payment of any amounts payable pursuant to this Award to the minimum extent necessary to satisfy the requirements of Section 409A of the Code. The Company will provide Grantee with notice of any such amendment or
modification. 
 17. Amendment. The terms and conditions set forth in this Award may only be amended by the written consent of the
Company and Grantee, except to the extent set forth in Section 16 regarding Section 409A of the Code and any other provision set forth in the Plan. 
 18. 2007 Equity Incentive Plan. The shares of Restricted Stock and payment of dividends granted hereunder shall be subject to such additional terms and conditions as may be imposed under the terms of the Plan,
a copy of which has been provided to Grantee. 
  

			
	NATIONAL CINEMEDIA, INC.
		
	By:	 	  

		 	Kurt C. Hall
		 	President and Chief Executive Officer
		
	Date:	 	  

 Attachments: 
 2007 Equity Incentive Plan 
 Form S-8 Prospectus 
  

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