Document:

Exhibit 10.1

		
			
		

		
			THE NASDAQ OMX group,  INC.
		

		
			BOARD COMPENSATION POLICY
		

		
			Amended and Restated on October 17, 2013 | 
		

		
			 
		

		
			PURPOSE& STATEMENT Of POLICY
		

		
			Annual Non-Employee Director (“Director”) compensation consists of the following elements, each of which is discussed further below: (i) annual retainer, (ii) annual equity award, (iii) board and committee meeting fees, (iv) annual committee chair fees (for certain committees) and (v) annual committee member fees (for certain committees).
		

		
			Director compensation will be based on a compensation year in connection with the annual meeting of stockholders (the “Annual Meeting”). This enables Directors to receive equity immediately following election and appointment to the Board at the Annual Meeting. 
		

		
			
		

		
			APPLICABILITY& SCOPE
		

		
			This Policy is applicable to all non-employee Directors of The NASDAQ OMX Group, Inc. 
		

		
			ANNUAL RETAINER
		

			
	
			
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			Annual Retainer compensation will be equal to a total value of $80,000 for each Director, other than the Chairman of the Board.

			
	
			
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			For the Chairman of the Board, Annual Retainer compensation will be equal to a total value of $180,000 for the 2013 compensation year and $205,000 for the 2014 compensation year.

			
	
			
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			Directors may annually elect to receive the Annual Retainer compensation in cash, equity or two portions of cash and equity in percentages specified by the Director.  If selected, the equity portion of the annual retainer will be paid in the form of equity awards permitted under The NASDAQ OMX Group, Inc. Equity Incentive Plan (the “Equity Plan”) to be awarded automatically on the date of the Annual Meeting immediately following the election of the Board.  Each Director will have 
		

		 

		

			

		

		

			 

		

 

			the opportunity to make this election during the thirty (30) day period preceding the Annual Meeting. If the Director declines to make an election, the entire Annual Retainer will be paid in cash.

			
	
			
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			The cash portion selected will be paid semi-annually in arrears, in equal installments, no later than the fifteenth day of the third month following the end of the semi-annual period; provided, however, that a Director will have a right to receive a cash payment for any given period only if that person serves as a Director during all or a portion of that period, with the cash payment for the period being prorated in the case of a person who serves as a Director during only a portion of a period (other than on account of death or disability).    

			
	
			
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			The equity portion selected will be paid in accordance with the “Policies and Procedures Relating to Equity Grants” below. 

			
	
			
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			A  Director appointed after the annual shareholders meeting will be eligible to receive a prorated share of the Annual Retainer compensation. Such a Director may elect to receive the Annual Retainer compensation in cash, equity or two portions of cash or equity in percentages specified by the Director. Any equity portion will be paid retroactively on the date of the next Annual Meeting. Any cash portion will be paid semi-annually in arrears. 

		
			 
		

		
			ANNUAL EQUITY AWARD
		

			
	
			
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			All Directors will receive an additional annual equity award of a type permitted under the Equity Plan, such as Restricted Stock Units, in the amount of $115,000 per annum.

		
			 
		

			
	
			
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			The annual equity award will be granted to each Director automatically on the date of the Annual Meeting immediately following the Director’s election and appointment to the Board.

		
			 
		

			
	
			
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			The annual equity award will be paid in accordance with the “Policies and Procedures Relating to Equity Grants” below.

		
			 
		

		
			BOARD AND COMMITTEE MEETING FEES
		

			
	
			
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			Each Director will receive a fee of $1,500 for each Board and Committee meeting attended.

		
			 
		

			
	
			
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			Each Director may elect to receive Board and Committee meeting fees in cash or equity. Fees paid in cash will be paid semi-annually in arrears.  Fees paid in equity will be paid annually in arrears on the date of the Annual Meeting and in accordance with the “Policies and Procedures Relating to Equity Grants” below. 

		
			 
		

		
			ANNUAL COMMITTEE CHAIR FEES (FOR CERTAIN COMMITTEES)
		

			
	
			
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			The Chairperson of each of the Audit and Management Compensation Committees will receive an Annual Chair Fee of $25,000.

		
			 
		

			
	
			
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			The Chairperson of the Nominating & Governance Committee will receive an Annual Chair Fee of $15,000.

		
			 
		

			
	
			
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			In 2013, the Annual Chair fees will be paid in cash. Beginning in 2014, each Chairperson may elect to receive the Annual Chair fees in cash or equity. The Annual Chair fees will be paid at the beginning of the annual compensation year in connection with the Annual Meeting.  Fees paid in equity will be paid in accordance with the “Policies and Procedures Relating to Equity Grants” below. 

		
			 
		

		

		

		 

NASDAQ OMX BOARD COMPENSATION PROGRAM|    2

		

			 

		

 

		 
		

		
			ANNUAL COMMITTEE MEMBER FEES (FOR CERTAIN COMMITTEES)
		

			
	
			
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			Each Non-Chair Member of the Audit and Management Compensation Committees will receive an annual membership fee of $5,000.

		
			 
		

			
	
			
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			In 2013, the Annual Committee Member fees will be paid in cash. Beginning in 2014, each Non-Chair Member may elect to receive the Annual Committee Member fees in cash or equity.  The Annual Committee Member fees will be paid at the beginning of the annual compensation year in connection with the Annual Meeting. Fees paid in equity will be paid in accordance with the “Policies and Procedures Relating to Equity Grants” below. 

		
			 
		

		
			 
		

		
			POLICIES AND PROCEDURES RELATING TO EQUITY GRANTS
		

		
			GENERAL
		

		
			 
		

			
	
			
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			All Director equity will be granted under the Equity Plan.

			
	
			
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			Calculation of the number of shares of equity to be awarded to Directors will be valued at 100% of face value and based on the closing price of NASDAQ OMX’s common stock on the date of the grant. Equity awards are non-transferable and must be issued to the Director.     

		
			VESTING
		

			
	
			
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			Any equity awards paid as retroactive compensation (e.g., for Board and Committee meeting fees) will vest immediately. All other equity awards will vest 100% one (1) year from the date of the grant. Equity awards will also vest upon the scheduled expiration of a Director’s term, if such term is not renewed.

			
	
			
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			Upon a Director’s resignation (other than for death or disability) prior to the end of the Director’s term, equity awards will be forfeited.

			
	
			
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			Upon termination of a Director for “Misconduct,” all equity awards will be forfeited without further consideration to the Director.

			
	
			
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			Upon termination of a Director on account of his death or disability, Equity Awards will vest.

			
	
			
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			Shortly after vesting, vested shares will appear in the Director’s account at E*Trade. To view this information, a Director may log directly onto his or her online E*Trade account athttps://us.etrade.com/e/t/user/login_sp. Additionally, a Director may contact E*Trade’s Executive Services Team at 1.866.987.2339 or via email at executiveservices@etrade.com

		
			EQUITY AGREEMENTS, SHARE RESTRICTIONS & VOTING RIGHTS
		

			
	
			
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			Equity awards will be evidenced by an Equity Award Agreement to be entered into with each Director.

			
	
			
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			Once vested, shares will be freely tradeable. NASDAQ OMX does not have a repurchase right or obligation.

			
	
			
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			Trading in NASDAQ OMX shares, however, is subject to the Director and Executive Officers Trading Policy and to any contractual restrictions on transfer, such as lock-up agreements, that may be applicable.

		

		

		 

NASDAQ OMX BOARD COMPENSATION PROGRAM|    3

		

			 

		

 

		REPORTING AND DISCLOSURE
		

			
	
			
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			SEC Form 4s (Change in Beneficial Ownership) must be filed by each Director with the SEC within 2 business days of equity grants.  The Director may request NASDAQ OMX’s assistance with the preparation and filing of Form 4s and other Section 16 reports by providing a completed Power of Attorney and CIK/CCC Code, if the Director has a CIK/CCC Code currently assigned.

		
			 
		

			
	
			
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			Equity will be reflected as stock owned by Directors, if required, in the Beneficial Ownership Table of the NASDAQ OMX Proxy and will be disclosed under the general Director compensation section of the Proxy.

		
			STOCK OWNERSHIP GUIDELINES FOR DIRECTORS
		

			
	
			
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			Stock ownership guidelines for Directors of NASDAQ OMX are as follows.

		
			Value of Shares Owned
		

		
			5x annual cash retainer
		

			
	
			
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			New Directors are expected to meet the applicable level of ownership within four years of their election to the Board of Directors.

			
	
			
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			The value of shares owned will be calculated based upon NASDAQ OMX’s average closing common stock price for a 90 day period prior to the date on which the Director is expected to meet the applicable level of stock ownership.

			
	
			
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			Shares that count toward meeting the stock ownership guidelines include:

			
	
			
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			Shares owned outright (e.g., shares obtained upon option exercise, shares purchased in the open market, etc.)

			
	
			
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			Shared ownership (e.g., shares owned or held in trust by immediate family)

			
	
			
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			Vested and unvested restricted shares

			
	
			
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			Shares that do not count toward meeting the stock ownership guidelines:

			
	
			
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			Vested stock options

			
	
			
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			Unvested stock options

			
	
			
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			Once an applicable guideline threshold has been attained, the Director is expected to continuously retain sufficient share ownership to meet the guideline for as long as the Director is subject to the Stock Ownership Guidelines.

			
	
			
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			There may be instances where an exception to the guidelines is necessary or appropriate, including in cases where the satisfaction of the guidelines would place a severe hardship on the Director. In such cases, the Chairman of the Board will make a final determination as to whether an exception to the Stock Ownership Guidelines, in whole or in part, will be granted.

		
			

		

		 

NASDAQ OMX BOARD COMPENSATION PROGRAM|    4Exhibit 10.10.1

		

			 

		

		
			  
		

		
			Exhibit 10.10.1 
		

		
			MEMORANDUM OF UNDERSTANDING 
		

		
			BETWEEN 
		

		
			THE NASDAQ OMX GROUP, INC. 
		

		
			AND 
		

		
			ROBERT GREIFELD 
		

		
			This Memorandum of Understanding dated as of December 11, 2012 is intended to describe how The NASDAQ OMX Group, Inc. (the “Company”) will determine the amount of certain severance payments provided for under the Employment Agreement (“Agreement”), effective as of February 22, 2012, by and between the Company and Robert Greifeld (“Executive”) which are determined in part by reference to Executive’s Target Bonus under the Company’s Executive Corporate Incentive Plan (“ECIP”). 
		

		
			1.Introduction and Purpose 
		

		
			The parties hereto wish to enter into this Memorandum of Understanding to describe how certain severance payments under the Agreement will be determined, in order to avoid possible negative tax consequences to the Company under Section 162(m) of the Code with respect to the Company’s ECIP in which Executive participates. Both the Company and Executive intend that amounts payable to Executive under the ECIP be deductible as “performance based compensation” within the meaning of Internal Revenue Code section 162(m)(4)(C). In accordance with IRS Revenue Ruling 2008-13 and Treasury Reg. 1.162-27(e)(2)(v), remuneration will not be deductible “performance based compensation” if, generally speaking, payment of a bonus based on attainment of a performance goal may be made in the event of retirement or termination of employment regardless of whether the performance goal has been attained. The parties desire to clarify how the Company will determine the severance payments under the Agreement in situations other than death or disability, in order to remove any potential ambiguity that could jeopardize the Company’s ability to deduct such payments made to Executive under the ECIP and/or the Agreement. 
		

		
			2.The Relevant Severance Payments 
		

		
			This Memorandum of Understanding relates to the determination of certain severance payments set forth in the Agreement which are determined in part by reference to Executive’s Target Bonus under the ECIP. These severance payments (each a “Severance Payment” or collectively the “Severance Payments” as the context requires) are described in (i) Section 8(b)(i)(A) of the Agreement (relating to termination of Executive by the Company without Cause or by the Executive for Good Reason other than in connection with a Change in Control), (ii) Section 8(f) (relating to termination of Executive’s employment due to a Non-Continuation Notice) and (iii) Section 8(g)(i)(A) (relating to termination of Executive’s employment without Cause or by the Executive for Good Reason following a Change in Control). 
		

		
			3.The Parties’ Understandings 
		

		
			(a)The term “Target Bonus” in clause II of the first sentence Section 8(b)(i)(A) of the Agreement and clause II of the first sentence of Section 8(g)(i)(A) of the Agreement means the Target Bonus (as defined in Section 4(a) of the Agreement) under the ECIP for the calendar year which precedes the year in which occurs the Executive’s Date of Termination. Per Section 4(a) of the Agreement, the Target Bonus shall not be less than 200% of base salary. Further, the Target Bonus for each year will never be less than the Target Bonus for the immediately preceding year. As such, Target Bonus in clause II is intended to be a fixed severance payment of 200% of Base Salary and not a performance-contingent payment dependent on current year or prior year performance. 
		

		
			(b)That portion of the Severance Payments described in Sections 8(b)(i)(A), 8(f) and 8(g)(i)(A) of the Agreement which is based on any “pro-rata Target Bonus” or “pro-rata portion of the Target Bonus” with respect to the calendar year in which Executive’s Date of Termination occurs shall be paid only in the event the performance goals established under the ECIP for that calendar year with respect to such Target Bonus have been satisfied. 
		

		
			 
		

		

		

		 

		

			 

		

 

		

			 

		

		(c)Notwithstanding any language in the Agreement to the contrary, payment of that portion of a Severance Payment which is contingent on satisfaction of applicable performance goals under the ECIP (the “Performance-Conditioned Portion”) shall be delayed until following the date the Company’s Management Compensation Committee determines that such performance goals have been satisfied, in accordance with the rules under the ECIP (the “Performance Goal Determination Date”). With respect to such amounts, the payment timing provisions under the Agreement shall be modified as follows: 
		

		
			(i)Payments of the Performance-Conditioned Portion of the Severance Payment in Section 8(b)(i)(A) or 8(f) shall be paid beginning as of the date described in Section 8(b)(i)(A) or 8(f) or, if later, within 30 days following the Performance Goal Determination Date. If payment of one or more installments of the Performance-Conditional Portion of the Severance Payment in Section 8(b)(i)(A) or 8(f) must be delayed until following the Performance Goal Determination Date, the initial installment shall consist of a lump sum equal to the total of all such installments delayed or due as of such payment date, without adjustment for interest. 
		

		
			(ii)Payment of any Performance-Conditioned Portion of the Severance Payment in Section 8(g)(i)(A) shall be paid in a lump sum on the date described in Section 8(g)(i)(A) or, if later, within 30 days of the Performance Goal Determination Date with respect to such Performance-Conditioned Portion. 
		

		
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		IN WITNESS WHEREOF, and intending to be legally bound, the Parties, by the signature of their duly authorized representatives, hereby enter into this Memorandum of Understanding as of the date first hereinabove written, to be effective as if it were part of the Agreement as of its original effective date. 
		

		
			EXECUTIVE 
		

		
			 
		

			
					
						 

				
	
					
						/s/ Robert Greifeld

					
						 

				
	
					
						Robert Greifeld

				

		
			THE NASDAQ OMX GROUP, INC. 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						/s/ Bryan Smith

					
						 

				
	
					
						 

					
					
						 

				
	
					
						By

					
					
						Bryan Smith

					
						 

				
	
					
						 

					
					
						 

				
	
					
						Its

					
					
						Senior Vice President, Global Human Resources

					
						 

				

		
			 
		

		
			 
		

		 

		

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