Document:

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                                                                    Exhibit 10.7

                        LIBERTY MEDIA INTERNATIONAL, INC.
                    2004 NONEMPLOYEE DIRECTOR INCENTIVE PLAN
                (AS AMENDED AND RESTATED EFFECTIVE APRIL 1, 2005)

                                    ARTICLE I

                                 PURPOSE OF PLAN

     1.1 Purpose. The purpose of the Plan is to provide a method whereby
eligible Nonemployee Directors of the Company may be awarded additional
remuneration for services rendered and encouraged to invest in capital stock of
the Company, thereby increasing their proprietary interest in the Company's
businesses and increasing their personal interest in the continued success and
progress of the Company. The Plan is also intended to aid in attracting Persons
of exceptional ability to become Nonemployee Directors of the Company.

     1.2 Effective Date. The Plan was originally effective May 11, 2004 (the
"Effective Date"). The Plan, as amended and restated, shall be effective as of
April 1, 2005, with respect to Awards made after that date.

                                   ARTICLE II

                                   DEFINITIONS

     2.1 Certain Defined Terms. Capitalized terms not defined elsewhere in the
Plan shall have the following meanings (whether used in the singular or plural):

          "Affiliate" of the Company means any corporation, partnership or other
     business association that, directly or indirectly, through one or more
     intermediaries, controls, is controlled by, or is under common control with
     the Company.

          "Agreement" means a stock option agreement, stock appreciation rights
     agreement, restricted shares agreement, stock units agreement or an
     agreement evidencing more than one type of Award, specified in Section
     10.5, as any such Agreement may be supplemented or amended from time to
     time.

          "Approved Transaction" means any transaction in which the Board (or,
     if approval of the Board is not required as a matter of law, the
     stockholders of the Company) shall approve (i) any consolidation or merger
     of the Company, or binding share exchange, pursuant to which shares of
     Common Stock of the Company would be changed or converted into or exchanged
     for cash, securities or other property, other than any such transaction in
     which the common stockholders of the Company immediately prior to such
     transaction have the same proportionate ownership of the Common Stock of,
     and voting power with respect to, the surviving corporation immediately
     after such transaction, (ii) any merger, consolidation or binding share
     exchange to which the Company is a party as a result of which the Persons
     who are common stockholders of the
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     Company immediately prior thereto have less than a majority of the combined
     voting power of the outstanding capital stock of the Company ordinarily
     (and apart from the rights accruing under special circumstances) having the
     right to vote in the election of directors immediately following such
     merger, consolidation or binding share exchange, (iii) the adoption of any
     plan or proposal for the liquidation or dissolution of the Company, or (iv)
     any sale, lease, exchange or other transfer (in one transaction or a series
     of related transactions) of all, or substantially all, of the assets of the
     Company.

          "Award" means a grant of Options, SARs, Restricted Shares, Stock Units
     and/or cash under the Plan.

          "Board" means the Board of Directors of the Company.

          "Board Change" means, during any period of two consecutive years,
     individuals who at the beginning of such period constituted the entire
     Board cease for any reason to constitute a majority thereof unless the
     election, or the nomination for election, of each new director was approved
     by a vote of at least two-thirds of the directors then still in office who
     were directors at the beginning of the period.

          "Code" means the Internal Revenue Code of 1986, as amended from time
     to time, or any successor statute or statutes thereto. Reference to any
     specific Code section shall include any successor section.

          "Common Stock" means each or any (as the context may require) series
     of the Company's common stock.

          "Company" means Liberty Media International, Inc., a Delaware
     corporation, provided, however that contingent upon and immediately
     following the consummation of the Mergers, "Company" means Liberty Global,
     Inc., a Delaware corporation.

          "Control Purchase" means any transaction (or series of related
     transactions) in which (i) any person (as such term is defined in Sections
     13(d)(3) and 14(d)(2) of the Exchange Act), corporation or other entity
     (other than the Company, any Subsidiary of the Company or any employee
     benefit plan sponsored by the Company or any Subsidiary of the Company)
     shall purchase any Common Stock of the Company (or securities convertible
     into Common Stock of the Company) for cash, securities or any other
     consideration pursuant to a tender offer or exchange offer, without the
     prior consent of the Board, or (ii) any person (as such term is so
     defined), corporation or other entity (other than the Company, any
     Subsidiary of the Company, any employee benefit plan sponsored by the
     Company or any Subsidiary of the Company or any Exempt Person (as defined
     below)) shall become the "beneficial owner" (as such term is defined in
     Rule 13d-3 under the Exchange Act), directly or indirectly, of securities
     of the Company representing 20% or more of the combined voting power of the
     then outstanding securities of the Company ordinarily (and apart from the
     rights accruing under special circumstances) having the right to vote in
     the election of directors (calculated as provided in Rule 13d-3(d) under
     the Exchange Act in the case of rights to acquire the Company's

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     securities), other than in a transaction (or series of related
     transactions) approved by the Board. For purposes of this definition,
     "Exempt Person" means each of (a) the Chairman of the Board, the President
     and each of the directors of Liberty Media International, Inc. as of the
     Distribution Date, and (b) the respective family members, estates, and
     heirs of each of the Persons referred to in clause (a) above and any trust
     or other investment vehicle for the primary benefit of any of such Persons
     or their respective family members or heirs. As used with respect to any
     Person, the term "family member" means the spouse, siblings and lineal
     descendants of such Person.

          "Disability" means the inability to engage in any substantial gainful
     activity by reason of any medically determinable physical or mental
     impairment which can be expected to result in death or which has lasted or
     can be expected to last for a continuous period of not less than 12 months.

          "Distribution Date" means the date on which Liberty Media
     International, Inc. ceased to be a wholly owned subsidiary of Liberty Media
     Corporation, a Delaware corporation.

          "Dividend Equivalents" means, with respect to Restricted Shares to be
     issued at the end of the Restriction Period, to the extent specified by the
     Board only, an amount equal to all dividends and other distributions (or
     the economic equivalent thereof) which are payable to stockholders of
     record during the Restriction Period on a like number and kind of shares of
     Common Stock.

          "Domestic Relations Order" means a domestic relations order as defined
     by the Code or Title I of the Employee Retirement Income Security Act, or
     the rules thereunder.

          "Effective Date" has the meaning ascribed thereto in Section 1.2.

          "Equity Security" shall have the meaning ascribed to such term in
     Section 3(a)(11) of the Exchange Act, and an equity security of an issuer
     shall have the meaning ascribed thereto in Rule 16a-1 promulgated under the
     Exchange Act, or any successor Rule.

          "Exchange Act" means the Securities Exchange Act of 1934, as amended
     from time to time, or any successor statute or statutes thereto. Reference
     to any specific Exchange Act section shall include any successor section.

          "Fair Market Value" of a share of any series of Common Stock on any
     day means the last sale price (or, if no last sale price is reported, the
     average of the high bid and low asked prices) for a share of such series of
     Common Stock on such day (or, if such day is not a trading day, on the next
     preceding trading day) as reported on the consolidated transaction
     reporting system for the principal national securities exchange on which
     shares of such series of Common Stock are listed on such day or if such
     shares are not then listed on a national securities exchange, then as
     reported on Nasdaq. If for any day the Fair Market Value of a share of the
     applicable series of Common Stock is not

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     determinable by any of the foregoing means, then the Fair Market Value for
     such day shall be determined in good faith by the Board on the basis of
     such quotations and other considerations as the Board deems appropriate.

          "Free Standing SAR" has the meaning ascribed thereto in Section 7.1.

          "Holder" means a Person who has received an Award under the Plan.

          "Mergers" means the merger of a transitory merger subsidiary of
     Liberty Global, Inc., a subsidiary of Liberty Media International, Inc.,
     with and into Liberty Media International, Inc. and the merger of a
     transitory merger subsidiary of Liberty Global, Inc. with and into
     UnitedGlobalCom, Inc. pursuant to an Agreement and Plan of Merger dated as
     of January 17, 2005 by and among Liberty Media International, Inc.,
     UnitedGlobalCom, Inc., Liberty Global, Inc. and other parties thereto.

          "Nasdaq" means The Nasdaq Stock Market.

          "Nonemployee Director" means an individual who is a member of the
     Board and who is not an employee of the Company or any Subsidiary.

          "Nonqualified Stock Option" means a stock option granted under Article
     VI.

          "Option" means a Nonqualified Stock Option.

          "Person" means an individual, corporation, limited liability company,
     partnership, trust, incorporated or unincorporated association, joint
     venture or other entity of any kind.

          "Plan" means this Liberty Media International, Inc. 2004 Nonemployee
     Director Incentive Plan, as amended and restated herein, provided however,
     that contingent upon and immediately following the consummation of the
     Mergers, the name of the Plan shall become the "Liberty Global, Inc. 2005
     Nonemployee Director Incentive Plan."

          "Restricted Shares" means shares of any series of Common Stock or the
     right to receive shares of any specified series of Common Stock, as the
     case may be, awarded pursuant to Article VIII.

          "Restriction Period" means a period of time beginning on the date of
     each Award of Restricted Shares and ending on the Vesting Date with respect
     to such Award.

          "Retained Distribution" has the meaning ascribed thereto in Section
     8.3.

          "SARs" means stock appreciation rights, awarded pursuant to Article
     VII, with respect to shares of any specified series of Common Stock.

          "Stock Unit Awards" has the meaning ascribed thereto in Section 9.1.

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          "Subsidiary" of a Person means any present or future subsidiary (as
     defined in Section 424(f) of the Code) of such Person or any business
     entity in which such Person owns, directly or indirectly, 50% or more of
     the voting, capital or profits interests. An entity shall be deemed a
     subsidiary of a Person for purposes of this definition only for such
     periods as the requisite ownership or control relationship is maintained.

          "Tandem SARs" has the meaning ascribed thereto in Section 7.1.

          "Vesting Date," with respect to any Restricted Shares awarded
     hereunder, means the date on which such Restricted Shares cease to be
     subject to a risk of forfeiture, as designated in or determined in
     accordance with the Agreement with respect to such Award of Restricted
     Shares pursuant to Article VIII. If more than one Vesting Date is
     designated for an Award of Restricted Shares, reference in the Plan to a
     Vesting Date in respect of such Award shall be deemed to refer to each part
     of such Award and the Vesting Date for such part.

                                   ARTICLE III

                                 ADMINISTRATION

     3.1 Administration. The Plan shall be administered by the Board, provided
that it may delegate to employees of the Company certain administrative or
ministerial duties in carrying out the purposes of the Plan.

     3.2 Powers. The Board shall have full power and authority to grant to
eligible Persons Options under Article VI of the Plan, SARs under Article VII of
the Plan, Restricted Shares under Article VIII of the Plan and/or Stock Units
under Article IX of the Plan, to determine the terms and conditions (which need
not be identical) of all Awards so granted, to interpret the provisions of the
Plan and any Agreements relating to Awards granted under the Plan and to
supervise the administration of the Plan. The Board in making an Award may
provide for the granting or issuance of additional, replacement or alternative
Awards upon the occurrence of specified events, including the exercise of the
original Award. The Board shall have sole authority in the selection of Persons
to whom Awards may be granted under the Plan and in the determination of the
timing, pricing, and amount of any such Award, subject only to the express
provisions of the Plan. In making determinations hereunder, the Board may take
into account such factors as the Board in its discretion deems relevant.

     3.3 Interpretation. The Board is authorized, subject to the provisions of
the Plan, to establish, amend and rescind such rules and regulations as it deems
necessary or advisable for the proper administration of the Plan and to take
such other action in connection with or in relation to the Plan as it deems
necessary or advisable. Each action and determination made or taken pursuant to
the Plan by the Board, including any interpretation or construction of the Plan,
shall be final and conclusive for all purposes and upon all Persons. No member
of the Board shall be liable for any action or determination made or taken by
him or the Board in good faith with respect to the Plan.

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                                   ARTICLE IV

                           SHARES SUBJECT TO THE PLAN

     4.1 Number of Shares. Subject to the provisions of this Article IV, the
maximum number of shares of Common Stock with respect to which Awards may be
granted during the term of the Plan shall be 5 million shares. Shares of Common
Stock will be made available from the authorized but unissued shares of the
Company or from shares reacquired by the Company, including shares purchased in
the open market. The shares of Common Stock subject to (a) any Award granted
under the Plan that shall expire, terminate or be annulled for any reason
without having been exercised (or considered to have been exercised as provided
in Section 7.2), (b) any Award of any SARs granted under the Plan that shall be
exercised for cash, and (c) any Award of Restricted Shares or Stock Units that
shall be forfeited prior to becoming vested (provided that the Holder received
no benefits of ownership of such Restricted Shares or Stock Units other than
voting rights and the accumulation of Retained Distributions and unpaid Dividend
Equivalents that are likewise forfeited) shall again be available for purposes
of the Plan.

     4.2 Adjustments. If the Company subdivides its outstanding shares of any
series of Common Stock into a greater number of shares of such series of Common
Stock (by stock dividend, stock split, reclassification, or otherwise) or
combines its outstanding shares of any series of Common Stock into a smaller
number of shares of such series of Common Stock (by reverse stock split,
reclassification, or otherwise) or if the Board determines that any stock
dividend, extraordinary cash dividend, reclassification, recapitalization,
reorganization, split-up, spin-off, combination, exchange of shares, warrants or
rights offering to purchase such series of Common Stock or other similar
corporate event (including mergers or consolidations other than those which
constitute Approved Transactions, adjustments with respect to which shall be
governed by Section 10.1(b)) affects any series of Common Stock so that an
adjustment is required to preserve the benefits or potential benefits intended
to be made available under the Plan, then the Board, in its sole discretion and
in such manner as the Board may deem equitable and appropriate, may make such
adjustments to any or all of (a) the number and kind of shares of stock which
thereafter may be awarded, optioned, or otherwise made subject to the benefits
contemplated by the Plan, (b) the number and kind of shares of stock subject to
outstanding Awards, and (c) the purchase or exercise price and the relevant
appreciation base with respect to any of the foregoing, provided, however, that
the number of shares subject to any Award shall always be a whole number.
Notwithstanding the foregoing, if all shares of any series of Common Stock are
redeemed, then each outstanding Award shall be adjusted to substitute for the
shares of such series of Common Stock subject thereto the kind and amount of
cash, securities or other assets issued or paid in the redemption of the
equivalent number of shares of such series of Common Stock and otherwise the
terms of such Award, including, in the case of Options or similar rights, the
aggregate exercise price, and, in the case of Free Standing SARs, the aggregate
base price, shall remain constant before and after the substitution (unless
otherwise determined by the Board and provided in the applicable Agreement). The
Board may, if deemed appropriate, provide for a cash payment to any Holder of an
Award in connection with any adjustment made pursuant to this Section 4.2.

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                                    ARTICLE V

                                   ELIGIBILITY

     5.1 General. The Persons who shall be eligible to participate in the Plan
and to receive Awards under the Plan shall, subject to Section 5.2, be such
Persons who are Nonemployee Directors as the Board shall select. Awards may be
made to Nonemployee Directors who hold or have held Awards under the Plan or any
similar or other awards under any other plan of the Company or any of its
Affiliates.

     5.2 Ineligibility. No Person who is not a Nonemployee Director shall be
eligible to receive an Award.

                                   ARTICLE VI

                                  STOCK OPTIONS

     6.1 Grant of Options. Subject to the limitations of the Plan, the Board
shall designate from time to time those eligible Persons to be granted Options,
the time when each Option shall be granted to such eligible Persons, the series
and number of shares of Common Stock subject to such Option, and, subject to
Section 6.2, the purchase price of the shares of Common Stock subject to such
Option.

     6.2 Option Price. The price at which shares may be purchased upon exercise
of an Option shall be fixed by the Board and may be no less than the Fair Market
Value of the shares of the applicable series of Common Stock subject to the
Option as of the date the Option is granted.

     6.3 Term of Options. Subject to the provisions of the Plan with respect to
death, retirement and termination of service, the term of each Option shall be
for such period as the Board shall determine as set forth in the applicable
Agreement.

     6.4 Exercise of Options. An Option granted under the Plan shall become (and
remain) exercisable during the term of the Option to the extent provided in the
applicable Agreement and the Plan and, unless the Agreement otherwise provides,
may be exercised to the extent exercisable, in whole or in part, at any time and
from time to time during such term; provided, however, that subsequent to the
grant of an Option, the Board, at any time before complete termination of such
Option, may accelerate the time or times at which such Option may be exercised
in whole or in part (without reducing the term of such Option).

     6.5 Manner of Exercise.

          (a) Form of Payment. An Option shall be exercised by written notice to
     the Company upon such terms and conditions as the Agreement may provide and
     in accordance with such other procedures for the exercise of Options as the
     Board may establish from time to time. The method or methods of payment of
     the purchase price for

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     the shares to be purchased upon exercise of an Option and of any amounts
     required by Section 10.9 shall be determined by the Board and may consist
     of (i) cash, (ii) check, (iii) whole shares of any series of Common Stock,
     (iv) the withholding of shares of the applicable series of Common Stock
     issuable upon such exercise of the Option, (v) the delivery, together with
     a properly executed exercise notice, of irrevocable instructions to a
     broker to deliver promptly to the Company the amount of sale or loan
     proceeds required to pay the purchase price, or (vi) any combination of the
     foregoing methods of payment, or such other consideration and method of
     payment as may be permitted for the issuance of shares under the Delaware
     General Corporation Law. The permitted method or methods of payment of the
     amounts payable upon exercise of an Option, if other than in cash, shall be
     set forth in the applicable Agreement and may be subject to such conditions
     as the Board deems appropriate.

          (b) Value of Shares. Unless otherwise determined by the Board and
     provided in the applicable Agreement, shares of any series of Common Stock
     delivered in payment of all or any part of the amounts payable in
     connection with the exercise of an Option, and shares of any series of
     Common Stock withheld for such payment, shall be valued for such purpose at
     their Fair Market Value as of the exercise date.

          (c) Issuance of Shares. The Company shall effect the transfer of the
     shares of Common Stock purchased under the Option as soon as practicable
     after the exercise thereof and payment in full of the purchase price
     therefor and of any amounts required by Section 10.9, and within a
     reasonable time thereafter, such transfer shall be evidenced on the books
     of the Company. Unless otherwise determined by the Board and provided in
     the applicable Agreement, (i) no Holder or other Person exercising an
     Option shall have any of the rights of a stockholder of the Company with
     respect to shares of Common Stock subject to an Option granted under the
     Plan until due exercise and full payment has been made, and (ii) no
     adjustment shall be made for cash dividends or other rights for which the
     record date is prior to the date of such due exercise and full payment.

     6.6 Nontransferability. Unless otherwise determined by the Board and
provided in the applicable Agreement, Options shall not be transferable other
than by will or the laws of descent and distribution or pursuant to a Domestic
Relations Order, and, except as otherwise required pursuant to a Domestic
Relations Order, Options may be exercised during the lifetime of the Holder
thereof only by such Holder (or his or her court-appointed legal
representative).

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                                   ARTICLE VII

                                      SARs

     7.1 Grant of SARs. Subject to the limitations of the Plan, SARs may be
granted by the Board to such eligible Persons in such numbers, with respect to
any specified series of Common Stock, and at such times during the term of the
Plan as the Board shall determine. A SAR may be granted to a Holder of an Option
(hereinafter called a "related Option") with respect to all or a portion of the
shares of Common Stock subject to the related Option (a "Tandem SAR") or may be
granted separately to an eligible Nonemployee Director (a "Free Standing SAR").
Subject to the limitations of the Plan, SARs shall be exercisable in whole or in
part upon notice to the Company upon such terms and conditions as are provided
in the Agreement.

     7.2 Tandem SARs. A Tandem SAR may be granted either concurrently with the
grant of the related Option or at any time thereafter prior to the complete
exercise, termination, expiration or cancellation of such related Option. Tandem
SARs shall be exercisable only at the time and to the extent that the related
Option is exercisable (and may be subject to such additional limitations on
exercisability as the Agreement may provide) and in no event after the complete
termination or full exercise of the related Option. Upon the exercise or
termination of the related Option, the Tandem SARs with respect thereto shall be
canceled automatically to the extent of the number of shares of Common Stock
with respect to which the related Option was so exercised or terminated. Subject
to the limitations of the Plan, upon the exercise of a Tandem SAR and unless
otherwise determined by the Board and provided in the applicable Agreement, (a)
the Holder thereof shall be entitled to receive from the Company, for each share
of the applicable series of Common Stock with respect to which the Tandem SAR is
being exercised, consideration (in the form determined as provided in Section
7.4) equal in value to the excess of the Fair Market Value of a share of the
applicable series of Common Stock with respect to which the Tandem SAR was
granted on the date of exercise over the related Option purchase price per
share, and (b) the related Option with respect thereto shall be canceled
automatically to the extent of the number of shares of Common Stock with respect
to which the Tandem SAR was so exercised.

     7.3 Free Standing SARs. Free Standing SARs shall be exercisable at the
time, to the extent and upon the terms and conditions set forth in the
applicable Agreement. The base price of a Free Standing SAR may be no less than
the Fair Market Value of the applicable series of Common Stock with respect to
which the Free Standing SAR was granted as of the date the Free Standing SAR is
granted. Subject to the limitations of the Plan, upon the exercise of a Free
Standing SAR and unless otherwise determined by the Board and provided in the
applicable Agreement, the Holder thereof shall be entitled to receive from the
Company, for each share of the applicable series of Common Stock with respect to
which the Free Standing SAR is being exercised, consideration (in the form
determined as provided in Section 7.4) equal in value to the excess of the Fair
Market Value of a share of the applicable series of Common Stock with respect to
which the Free Standing SAR was granted on the date of exercise over the base
price per share of such Free Standing SAR.

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     7.4 Consideration. The consideration to be received upon the exercise of a
SAR by the Holder shall be paid in the applicable series of Common Stock with
respect to which the SAR was granted (valued at Fair Market Value on the date of
exercise of such SAR); provided, however, that the Board may permit the Holder
of a SAR who is not subject to United States Federal Income Tax to be paid
consideration in the form of cash, or a combination of cash and the applicable
series of Common Stock with respect to which the SAR was granted. No fractional
shares of Common Stock shall be issuable upon exercise of a SAR, and unless
otherwise provided in the applicable Agreement, the Holder will receive cash in
lieu of fractional shares. Unless the Board shall otherwise determine, to the
extent a Free Standing SAR is exercisable, it will be exercised automatically on
its expiration date.

     7.5 Limitations. The applicable Agreement may provide for a limit on the
amount payable to a Holder upon exercise of SARs at any time or in the
aggregate, for a limit on the time periods during which a Holder may exercise
SARs, and for such other limits on the rights of the Holder and such other terms
and conditions of the SAR, including a condition that the SAR may be exercised
only in accordance with rules and regulations adopted from time to time, as the
Board may determine. Unless otherwise so provided in the applicable Agreement,
any such limit relating to a Tandem SAR shall not restrict the exercisability of
the related Option. Such rules and regulations may govern the right to exercise
SARs granted prior to the adoption or amendment of such rules and regulations as
well as SARs granted thereafter.

     7.6 Exercise. For purposes of this Article VII, the date of exercise of a
SAR shall mean the date on which the Company shall have received notice from the
Holder of the SAR of the exercise of such SAR (unless otherwise determined by
the Board and provided in the applicable Agreement).

     7.7 Nontransferability. Unless otherwise determined by the Board and
provided in the applicable Agreement, (a) SARs shall not be transferable other
than by will or the laws of descent and distribution or pursuant to a Domestic
Relations Order, and (b) except as otherwise required pursuant to a Domestic
Relations Order, SARs may be exercised during the lifetime of the Holder thereof
only by such Holder (or his or her court-appointed legal representative).

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                                  ARTICLE VIII

                                RESTRICTED SHARES

     8.1 Grant. Subject to the limitations of the Plan, the Board shall
designate those eligible Persons to be granted Awards of Restricted Shares,
shall determine the time when each such Award shall be granted, shall determine
whether shares of Common Stock covered by Awards of Restricted Shares will be
issued at the beginning or the end of the Restriction Period and whether
Dividend Equivalents will be paid during the Restriction Period in the event
shares of the applicable series of Common Stock are to be issued at the end of
the Restriction Period, and shall designate (or set forth the basis for
determining) the Vesting Date or Vesting Dates for each Award of Restricted
Shares, and may prescribe other restrictions, terms and conditions applicable to
the vesting of such Restricted Shares in addition to those provided in the Plan.
The Board shall determine the price, if any, to be paid by the Holder for the
Restricted Shares; provided, however, that the issuance of Restricted Shares
shall be made for at least the minimum consideration necessary to permit such
Restricted Shares to be deemed fully paid and nonassessable. All determinations
made by the Board pursuant to this Section 8.1 shall be specified in the
Agreement.

     8.2 Issuance of Restricted Shares at Beginning of the Restriction Period.
If shares of the applicable series of Common Stock are issued at the beginning
of the Restriction Period, the stock certificate or certificates representing
such Restricted Shares shall be registered in the name of the Holder to whom
such Restricted Shares shall have been awarded. During the Restriction Period,
certificates representing the Restricted Shares and any securities constituting
Retained Distributions shall bear a restrictive legend to the effect that
ownership of the Restricted Shares (and such Retained Distributions), and the
enjoyment of all rights appurtenant thereto, are subject to the restrictions,
terms and conditions provided in the Plan and the applicable Agreement. Such
certificates shall remain in the custody of the Company or its designee, and the
Holder shall deposit with the custodian stock powers or other instruments of
assignment, each endorsed in blank, so as to permit retransfer to the Company of
all or any portion of the Restricted Shares and any securities constituting
Retained Distributions that shall be forfeited or otherwise not become vested in
accordance with the Plan and the applicable Agreement.

     8.3 Restrictions. Restricted Shares issued at the beginning of the
Restriction Period shall constitute issued and outstanding shares of the
applicable series of Common Stock for all corporate purposes. The Holder will
have the right to vote such Restricted Shares, to receive and retain such
dividends and distributions, as the Board may designate, paid or distributed on
such Restricted Shares, and to exercise all other rights, powers and privileges
of a Holder of shares of the applicable series of Common Stock with respect to
such Restricted Shares; except, that, unless otherwise determined by the Board
and provided in the applicable Agreement, (a) the Holder will not be entitled to
delivery of the stock certificate or certificates representing such Restricted
Shares until the Restriction Period shall have expired and unless all other
vesting requirements with respect thereto shall have been fulfilled or waived;
(b) the Company or its designee will retain custody of the stock certificate or
certificates representing the Restricted Shares during the Restriction Period as
provided in Section 8.2; (c) other than such dividends and

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distributions as the Board may designate, the Company or its designee will
retain custody of all distributions ("Retained Distributions") made or declared
with respect to the Restricted Shares (and such Retained Distributions will be
subject to the same restrictions, terms and vesting, and other conditions as are
applicable to the Restricted Shares) until such time, if ever, as the Restricted
Shares with respect to which such Retained Distributions shall have been made,
paid or declared shall have become vested, and such Retained Distributions shall
not bear interest or be segregated in a separate account; (d) the Holder may not
sell, assign, transfer, pledge, exchange, encumber or dispose of the Restricted
Shares or any Retained Distributions or his interest in any of them during the
Restriction Period; and (e) a breach of any restrictions, terms or conditions
provided in the Plan or established by the Board with respect to any Restricted
Shares or Retained Distributions will cause a forfeiture of such Restricted
Shares and any Retained Distributions with respect thereto.

     8.4 Issuance of Stock at End of the Restriction Period. Restricted Shares
issued at the end of the Restriction Period shall not constitute issued and
outstanding shares of the applicable series of Common Stock, and the Holder
shall not have any of the rights of a stockholder with respect to the shares of
Common Stock covered by such an Award of Restricted Shares, in each case until
such shares shall have been transferred to the Holder at the end of the
Restriction Period. If and to the extent that shares of Common Stock are to be
issued at the end of the Restriction Period, the Holder shall be entitled to
receive Dividend Equivalents with respect to the shares of Common Stock covered
thereby either (a) during the Restriction Period or (b) in accordance with the
rules applicable to Retained Distributions, as the Board may specify in the
Agreement.

     8.5 Cash Payments. In connection with any Award of Restricted Shares, an
Agreement may provide for the payment of a cash amount to the Holder of such
Restricted Shares after such Restricted Shares shall have become vested. Such
cash amounts shall be payable in accordance with such additional restrictions,
terms and conditions as shall be prescribed by the Board in the Agreement and
shall be in addition to any other compensation payments which such Holder shall
be otherwise entitled or eligible to receive from the Company.

     8.6 Completion of Restriction Period. On the Vesting Date with respect to
each Award of Restricted Shares and the satisfaction of any other applicable
restrictions, terms and conditions, (a) all or the applicable portion of such
Restricted Shares shall become vested, (b) any Retained Distributions and any
unpaid Dividend Equivalents with respect to such Restricted Shares shall become
vested to the extent that the Restricted Shares related thereto shall have
become vested, and (c) any cash amount to be received by the Holder with respect
to such Restricted Shares shall become payable, all in accordance with the terms
of the applicable Agreement. Any such Restricted Shares, Retained Distributions
and any unpaid Dividend Equivalents that shall not become vested shall be
forfeited to the Company, and the Holder shall not thereafter have any rights
(including dividend and voting rights) with respect to such Restricted Shares,
Retained Distributions and any unpaid Dividend Equivalents that shall have been
so forfeited. The Board may, in its discretion, provide that the delivery of any
Restricted Shares, Retained Distributions and unpaid Dividend Equivalents that
shall have become vested, and payment of any cash amounts that shall have become
payable, shall be deferred until such date or dates as the recipient may elect.
Any election of a recipient pursuant to the preceding

                                      -12-
<PAGE>
sentence shall be filed in writing with the Board in accordance with such rules
and regulations, including any deadline for the making of such an election, as
the Board may provide, and shall be made in compliance with Section 409A of the
Code.

                                   ARTICLE IX

                                   STOCK UNITS

     9.1 Grant. In addition to granting Awards of Options, SARs and Restricted
Shares, the Board shall, subject to the limitations of the Plan, have authority
to grant to eligible Persons Awards of Stock Units which may be in the form of
shares of any specified series of Common Stock or units, the value of which is
based, in whole or in part, on the Fair Market Value of the shares of any
specified series of Common Stock. Subject to the provisions of the Plan,
including any rules established pursuant to Section 9.2, Awards of Stock Units
shall be subject to such terms, restrictions, conditions, vesting requirements
and payment rules as the Board may determine in its discretion, which need not
be identical for each Award. The determinations made by the Board pursuant to
this Section 9.1 shall be specified in the applicable Agreement.

     9.2 Rules. The Board may, in its discretion, establish any or all of the
following rules for application to an Award of Stock Units:

          (a) Any shares of Common Stock which are part of an Award of Stock
     Units may not be assigned, sold, transferred, pledged or otherwise
     encumbered prior to the date on which the shares are issued or, if later,
     the date provided by the Board at the time of the Award.

          (b) Such Awards may provide for the payment of cash consideration by
     the Person to whom such Award is granted or provide that the Award, and any
     shares of Common Stock to be issued in connection therewith, if applicable,
     shall be delivered without the payment of cash consideration; provided,
     however, that the issuance of any shares of Common Stock in connection with
     an Award of Stock Units shall be for at least the minimum consideration
     necessary to permit such shares to be deemed fully paid and nonassessable.

          (c) Awards of Stock Units may relate in whole or in part to
     performance or other criteria established by the Board at the time of
     grant.

          (d) Awards of Stock Units may provide for deferred payment schedules,
     vesting over a specified period of service, the payment (on a current or
     deferred basis) of dividend equivalent amounts with respect to the number
     of shares of Common Stock covered by the Award, and elections by the Holder
     to defer payment of the Award or the lifting of restrictions on the Award,
     if any, provided that any such deferrals shall comply with the requirements
     of Section 409A of the Code.

                                      -13-
<PAGE>
          (e) In such circumstances as the Board may deem advisable, the Board
     may waive or otherwise remove, in whole or in part, any restrictions or
     limitations to which a Stock Unit Award was made subject at the time of
     grant.

                                    ARTICLE X

                               GENERAL PROVISIONS

     10.1 Acceleration of Awards.

          (a) Death or Disability. If a Holder's service shall terminate by
     reason of death or Disability, notwithstanding any contrary waiting period,
     installment period, vesting schedule or Restriction Period in any Agreement
     or in the Plan, unless the applicable Agreement provides otherwise: (i) in
     the case of an Option or SAR, each outstanding Option or SAR granted under
     the Plan shall immediately become exercisable in full in respect of the
     aggregate number of shares covered thereby; (ii) in the case of Restricted
     Shares, the Restriction Period applicable to each such Award of Restricted
     Shares shall be deemed to have expired and all such Restricted Shares, any
     related Retained Distributions and any unpaid Dividend Equivalents shall
     become vested and any related cash amounts payable pursuant to the
     applicable Agreement shall be adjusted in such manner as may be provided in
     the Agreement; and (iii) in the case of Stock Units, each such Award of
     Stock Units shall become vested in full.

          (b) Approved Transactions; Board Change; Control Purchase. In the
     event of any Approved Transaction, Board Change or Control Purchase,
     notwithstanding any contrary waiting period, installment period, vesting
     schedule or Restriction Period in any Agreement or in the Plan, unless the
     applicable Agreement provides otherwise: (i) in the case of an Option or
     SAR, each such outstanding Option or SAR granted under the Plan shall
     become exercisable in full in respect of the aggregate number of shares
     covered thereby; (ii) in the case of Restricted Shares, the Restriction
     Period applicable to each such Award of Restricted Shares shall be deemed
     to have expired and all such Restricted Shares, any related Retained
     Distributions and any unpaid Dividend Equivalents shall become vested and
     any related cash amounts payable pursuant to the applicable Agreement shall
     be adjusted in such manner as may be provided in the Agreement; and (iii)
     in the case of Stock Units, each such Award of Stock Units shall become
     vested in full, in each case effective upon the Board Change or Control
     Purchase or immediately prior to consummation of the Approved Transaction.
     Notwithstanding the foregoing, unless otherwise provided in the applicable
     Agreement, the Board may, in its discretion, determine that any or all
     outstanding Awards of any or all types granted pursuant to the Plan will
     not vest or become exercisable on an accelerated basis in connection with
     an Approved Transaction if effective provision has been made for the taking
     of such action which, in the opinion of the Board, is equitable and
     appropriate to substitute a new Award for such Award or to assume such
     Award and to make such new or assumed Award, as nearly as may be
     practicable, equivalent to the old Award (before giving effect to any
     acceleration of the vesting or exercisability thereof), taking into
     account, to the extent applicable, the kind and amount of securities, cash
     or other assets into or for which

                                      -14-
<PAGE>
     the applicable series of Common Stock may be changed, converted or
     exchanged in connection with the Approved Transaction.

     10.2 Termination of Service.

          (a) General. If a Holder's service shall terminate prior to an Option
     or SAR becoming exercisable or being exercised (or deemed exercised, as
     provided in Section 7.2) in full, or during the Restriction Period with
     respect to any Restricted Shares or prior to the vesting or complete
     exercise of any Stock Units, then such Option or SAR shall thereafter
     become or be exercisable, such Stock Units to the extent vested shall
     thereafter be exercisable, and the Holder's rights to any unvested
     Restricted Shares, Retained Distributions, unpaid Dividend Equivalents and
     related cash amounts, and any such unvested Stock Units shall thereafter
     vest, in each case solely to the extent provided in the applicable
     Agreement; provided, however, that, unless otherwise determined by the
     Board and provided in the applicable Agreement, (i) no Option or SAR may be
     exercised after the scheduled expiration date thereof; (ii) if the Holder's
     service terminates by reason of death or Disability, the Option or SAR
     shall remain exercisable for a period of at least one year following such
     termination (but not later than the scheduled expiration of such Option or
     SAR); and (iii) any termination of the Holder's service for cause will be
     treated in accordance with the provisions of Section 10.2(b).

          (b) Termination for Cause. If a Holder's service on the Board shall be
     terminated by the Company for "cause" during the Restriction Period with
     respect to any Restricted Shares, or prior to any Option or SAR becoming
     exercisable or being exercised in full or prior to the vesting or complete
     exercise of any Stock Unit (for these purposes, "cause" shall include
     dishonesty, incompetence, moral turpitude, other misconduct of any kind and
     the refusal to perform his duties and responsibilities for any reason other
     than illness or incapacity; provided, however, that if such termination
     occurs within 12 months after an Approved Transaction or Control Purchase
     or Board Change, termination for "cause" shall mean only a felony
     conviction for fraud, misappropriation or embezzlement), then, unless
     otherwise determined by the Board and provided in the applicable Agreement,
     (i) all Options and SARs and all unvested or unexercised Stock Units held
     by such Holder shall immediately terminate, and (ii) such Holder's rights
     to all Restricted Shares, Retained Distributions, any unpaid Dividend
     Equivalents and any related cash amounts shall be forfeited immediately.

     10.3 Nonalienation of Benefits. Except as set forth herein, no right or
benefit under the Plan shall be subject to anticipation, alienation, sale,
assignment, hypothecation, pledge, exchange, transfer, encumbrance or charge,
and any attempt to anticipate, alienate, sell, assign, hypothecate, pledge,
exchange, transfer, encumber or charge the same shall be void. No right or
benefit hereunder shall in any manner be liable for or subject to the debts,
contracts, liabilities or torts of the Person entitled to such benefits.

     10.4 Written Agreement. Each Award of Options shall be evidenced by a stock
option agreement; each Award of SARs shall be evidenced by a stock appreciation
rights agreement; each Award of Restricted Shares shall be evidenced by a
restricted shares agreement; and each

                                      -15-
<PAGE>
Award of Stock Units shall be evidenced by a stock units agreement, each in such
form and containing such terms and provisions not inconsistent with the
provisions of the Plan as the Board from time to time shall approve; provided,
however, that if more than one type of Award is made to the same Holder, such
Awards may be evidenced by a single Agreement with such Holder. Each grantee of
an Option, SAR, Restricted Shares or Stock Units shall be notified promptly of
such grant, and a written Agreement shall be promptly executed and delivered by
the Company. Any such Agreement may be supplemented or amended from time to time
as approved by the Board as contemplated by Section 10.6(b).

     10.5 Designation of Beneficiaries. Each Person who shall be granted an
Award under the Plan may designate a beneficiary or beneficiaries and may change
such designation from time to time by filing a written designation of
beneficiary or beneficiaries with the Board on a form to be prescribed by it,
provided that no such designation shall be effective unless so filed prior to
the death of such Person.

     10.6 Termination and Amendment.

          (a) General. Unless the Plan shall theretofore have been terminated as
     hereinafter provided, no Awards may be made under the Plan on or after the
     tenth anniversary of the Effective Date. The Plan may be terminated at any
     time prior to the tenth anniversary of the Effective Date and may, from
     time to time, be suspended or discontinued or modified or amended if such
     action is deemed advisable by the Board.

          (b) Modification. No termination, modification or amendment of the
     Plan may, without the consent of the Person to whom any Award shall
     theretofore have been granted, adversely affect the rights of such Person
     with respect to such Award. No modification, extension, renewal or other
     change in any Award granted under the Plan shall be made after the grant of
     such Award, unless the same is consistent with the provisions of the Plan.
     With the consent of the Holder and subject to the terms and conditions of
     the Plan (including Section 10.6(a)), the Board may amend outstanding
     Agreements with any Holder, including any amendment which would (i)
     accelerate the time or times at which the Award may be exercised and/or
     (ii) extend the scheduled expiration date of the Award. Without limiting
     the generality of the foregoing, the Board may, but solely with the
     Holder's consent unless otherwise provided in the Agreement, agree to
     cancel any Award under the Plan and grant a new Award in substitution
     therefor, provided that the Award so substituted shall satisfy all of the
     requirements of the Plan as of the date such new Award is made. Nothing
     contained in the foregoing provisions of this Section 10.6(b) shall be
     construed to prevent the Board from providing in any Agreement that the
     rights of the Holder with respect to the Award evidenced thereby shall be
     subject to such rules and regulations as the Board may, subject to the
     express provisions of the Plan, adopt from time to time or impair the
     enforceability of any such provision.

     10.7 Government and Other Regulations. The obligation of the Company with
respect to Awards shall be subject to all applicable laws, rules and regulations
and such approvals by any governmental agencies as may be required, including
the effectiveness of any registration

                                      -16-
<PAGE>
statement required under the Securities Act of 1933, and the rules and
regulations of any securities exchange or association on which the Common Stock
may be listed or quoted. For so long as any series of Common Stock are
registered under the Exchange Act, the Company shall use its reasonable efforts
to comply with any legal requirements (a) to maintain a registration statement
in effect under the Securities Act of 1933 with respect to all shares of the
applicable series of Common Stock that may be issued to Holders under the Plan
and (b) to file in a timely manner all reports required to be filed by it under
the Exchange Act.

     10.8 Withholding. The Company's obligation to deliver shares of Common
Stock or pay cash in respect of any Award under the Plan shall be subject to
applicable federal, state and local tax withholding requirements. Federal, state
and local withholding tax due at the time of an Award, upon the exercise of any
Option or SAR or upon the vesting of, or expiration of restrictions with respect
to, Restricted Shares or Stock Units, as appropriate, may, in the discretion of
the Board, be paid in shares of the applicable series of Common Stock already
owned by the Holder or through the withholding of shares otherwise issuable to
such Holder, upon such terms and conditions (including the conditions referenced
in Section 6.5) as the Board shall determine. If the Holder shall fail to pay,
or make arrangements satisfactory to the Board for the payment to the Company
of, all such federal, state and local taxes required to be withheld by the
Company, then the Company shall, to the extent permitted by law, have the right
to deduct from any payment of any kind otherwise due to such Holder an amount
equal to any federal, state or local taxes of any kind required to be withheld
by the Company with respect to such Award.

     10.9 Nonexclusivity of the Plan. The adoption of the Plan by the Board
shall not be construed as creating any limitations on the power of the Board to
adopt such other incentive arrangements as it may deem desirable, including the
granting of stock options and the awarding of stock and cash otherwise than
under the Plan, and such arrangements may be either generally applicable or
applicable only in specific cases.

     10.10 Exclusion from Other Plans. By acceptance of an Award, unless
otherwise provided in the applicable Agreement, each Holder shall be deemed to
have agreed that such Award is special incentive compensation that will not be
taken into account, in any manner, as compensation or bonus in determining the
amount of any payment under any pension, retirement or other benefit plan,
program or policy of the Company or any Subsidiary of the Company. In addition,
each beneficiary of a deceased Holder shall be deemed to have agreed that such
Award will not affect the amount of any life insurance coverage, if any,
provided by the Company on the life of the Holder which is payable to such
beneficiary under any life insurance plan of the Company or any Subsidiary of
the Company.

     10.11 Unfunded Plan. Neither the Company nor any Subsidiary of the Company
shall be required to segregate any cash or any shares of Common Stock which may
at any time be represented by Awards, and the Plan shall constitute an
"unfunded" plan of the Company. Except as provided in Article VIII with respect
to Awards of Restricted Shares and except as expressly set forth in an
Agreement, no Holder shall have voting or other rights with respect to the
shares of Common Stock covered by an Award prior to the delivery of such shares.
Neither the Company nor any Subsidiary of the Company shall, by any provisions
of the Plan, be deemed

                                      -17-
<PAGE>
to be a trustee of any shares of Common Stock or any other property, and the
liabilities of the Company to any Holder pursuant to the Plan shall be those of
a debtor pursuant to such contract obligations as are created by or pursuant to
the Plan, and the rights of any Holder under the Plan shall be limited to those
of a general creditor of the Company. In its sole discretion, the Board may
authorize the creation of trusts or other arrangements to meet the obligations
of the Company under the Plan, provided, however, that the existence of such
trusts or other arrangements is consistent with the unfunded status of the Plan.

     10.12 Governing Law. The Plan shall be governed by, and construed in
accordance with, the laws of the State of Delaware.

     10.13 Accounts. The delivery of any shares of Common Stock and the payment
of any amount in respect of an Award shall be for the account of the Company or
the applicable Subsidiary of the Company, as the case may be, and any such
delivery or payment shall not be made until the recipient shall have paid or
made satisfactory arrangements for the payment of any applicable withholding
taxes as provided in Section 10.8.

     10.14 Legends. Each certificate evidencing shares of Common Stock subject
to an Award shall bear such legends as the Board deems necessary or appropriate
to reflect or refer to any terms, conditions or restrictions of the Award
applicable to such shares, including any to the effect that the shares
represented thereby may not be disposed of unless the Company has received an
opinion of counsel, acceptable to the Company, that such disposition will not
violate any federal or state securities laws.

     10.15 Company's Rights. The grant of Awards pursuant to the Plan shall not
affect in any way the right or power of the Company to make reclassifications,
reorganizations or other changes of or to its capital or business structure or
to merge, consolidate, liquidate, sell or otherwise dispose of all or any part
of its business or assets.

     10.16 Interpretation. The words "include," "includes," "included" and
"including" to the extent used in the Plan shall be deemed in each case to be
followed by the words "without limitation."

     10.17 Section 409A. Notwithstanding anything in this Plan to the contrary,
if any Plan provision or Award under the Plan would result in the imposition of
an additional tax under Code Section 409A and related regulations and United
States Department of the Treasury pronouncements ("Section 409A"), that Plan
provision or Award will be reformed to avoid imposition of the applicable tax
and no action taken to comply with Section 409A shall be deemed to adversely
affect the Holder's rights to an Award.

                                      -18-<PAGE>
                                                                    Exhibit 10.9

                                                                      [SERIES A]

                                     FORM OF
                        LIBERTY MEDIA INTERNATIONAL, INC.
                               2004 INCENTIVE PLAN
                (AS AMENDED AND RESTATED EFFECTIVE MARCH 9, 2005)

                      NON-QUALIFIED STOCK OPTION AGREEMENT

          THIS NON-QUALIFIED STOCK OPTION AGREEMENT ("Agreement") is made as of
___________, 200__ (the "Effective Date"), by and between LIBERTY MEDIA
INTERNATIONAL, INC., a Delaware corporation (the "Company"), and the individual
whose name, address and social security number appear on the signature page
hereto (the "Grantee").

          The Company has adopted the Liberty Media International, Inc. 2004
Incentive Plan (As Amended and Restated Effective March 9, 2005) (the "Plan"), a
copy of which is attached to this Agreement as Exhibit A and by this reference
made a part hereof, for the benefit of eligible employees of, and independent
contractors providing services to, the Company and its Subsidiaries. Capitalized
terms used and not otherwise defined herein will have the meaning given thereto
in the Plan.

          Pursuant to the Plan, the Compensation Committee (the "Committee")
appointed by the Board pursuant to Section 3.1 of the Plan to administer the
Plan has determined that it would be in the interest of the Company and its
stockholders to award an option to Grantee, subject to the conditions and
restrictions set forth herein and in the Plan, in order to provide the Grantee
additional remuneration for services rendered, to encourage the Grantee to
continue to provide services to the Company or its Subsidiaries and to increase
the Grantee's personal interest in the continued success and progress of the
Company.

          The Company and the Grantee therefore agree as follows:

          1. DEFINITIONS. The following terms, when used in this Agreement, have
the following meanings:

          "Business Day" means any day other than Saturday, Sunday or a day on
which banking institutions in Denver, Colorado, are required or authorized to be
closed.

          "Cause" has the meaning specified for "cause" in Section 11.2(b) of
the Plan.

          "Close of Business" means, on any day, 5:00 p.m., Denver, Colorado
time.

          "Committee" has the meaning specified in the recitals to this
Agreement.

          "Company" has the meaning specified in the preamble to this Agreement.

          "Effective Date" has the meaning specified in the preamble to this
Agreement.

          "Exercise Price" means $ _____ per LBTYA share.
<PAGE>
          "Grantee" has the meaning specified in the preamble to this Agreement.

          "LBYTA" means the Series A common stock, par value $.01 per share, of
the Company.

          "Option" has the meaning specified in Section 2 of this Agreement.

          "Option Shares" has the meaning specified in Section 2 of this
Agreement.

          "Plan" has the meaning specified in the recitals of this Agreement.

          "Required Withholding Amount" has the meaning specified in Section 5
of this Agreement.

          "Special Termination Period" has the meaning specified in Section 7(d)
of this Agreement.

          "Term" has the meaning specified in Section 2 of this Agreement.

          "Termination of Service" means the Grantee's provision of services to
the Company and its Subsidiaries as an officer, employee or independent
contractor, terminates for any reason.

          "Year of Continuous Service" has the meaning specified in Section 7(d)
of this Agreement.

          2. GRANT OF OPTIONS. Subject to the terms and conditions herein,
pursuant to the Plan, the Company grants to the Grantee an option (the "Option")
to purchase from the Company the number of shares of LBTYA set forth on the
signature page hereto (the "Option Shares") at a purchase price per LBTYA share
equal to the Exercise Price. The Option granted herein is a "Nonqualified Stock
Option". The Option, to the extent it has become exercisable in accordance with
Section 3, will be exercisable in whole at any time or in part from time to time
during the period commencing on the Effective Date and expiring at the Close of
Business on _______, 20___ (the "Term"), subject to earlier termination as
provided in Section 7. The Exercise Price and number of Option Shares are
subject to adjustment pursuant to Section 10. No fractional shares of LBTYA will
be issuable upon exercise of an Option, and the Grantee will receive, in lieu of
any fractional share of LBTYA that the Grantee otherwise would receive upon such
exercise, cash equal to the fraction representing such fractional share
multiplied by the Fair Market Value of one share of LBTYA as of the date on
which such exercise is considered to occur pursuant to Section 4.

                             CONDITIONS OF EXERCISE.

          3. Unless otherwise determined by the Committee in its sole
discretion, the Option will be exercisable only in accordance with the
conditions stated in this Section 3.

                                        2
<PAGE>
          (a) Except as otherwise provided in Section 11.1(b) of the Plan or in
     the last sentence of this Section 3(a), the Option will not be exercisable
     until June 22, 2005 and may be exercised thereafter only to the extent it
     has become exercisable in accordance with the following schedule:

               i.   On and after ________, 200___, the Option shall be
                    exercisable as to 20% of the Option Shares;

               ii.  On and after ________, 200___, the Option shall be
                    exercisable as to 40% of the Option Shares;

               iii. On and after ________, 200___, the Option shall be
                    exercisable as to 60% of the Option Shares;

               iv.  On and after ________, 200___, the Option shall be
                    exercisable as to 80% of the Option Shares; and

               v.   On and after ________, 200___, the Option shall be
                    exercisable as to 100% of the Option Shares.

Notwithstanding the foregoing, (x) the Option will become exercisable in full on
the date of Termination of Service if the Termination of Service occurs by
reason of Grantee's death or Disability, and (y) if the Termination of Service
is by the Company or a Subsidiary without Cause (as determined in the sole
discretion of the Committee) more than six months after the Effective Date, the
Option will become exercisable on the date of Termination of Service with
respect to the percentage of the Option Shares as to which the Option otherwise
would become exercisable during the remainder of the calendar year in which the
Termination of Service occurs.

          (b) To the extent the Option becomes exercisable, the Option may be
     exercised in whole or in part (at any time or from time to time, except as
     otherwise provided herein) until expiration of the Term or earlier
     termination thereof.

          (c) The Grantee acknowledges and agrees that the Committee, in its
     discretion and as contemplated by Section 3.3 of the Plan, may adopt rules
     and regulations from time to time after the date hereof with respect to the
     exercise of the Option and that the exercise by the Grantee of the Option
     will be subject to the further condition that such exercise is made in
     accordance with all such rules and regulations as the Committee may
     determine are applicable thereto.

          4. MANNER OF EXERCISE. The Option will be considered exercised (as to
the number of Option Shares specified in the notice referred to in Section 4(a)
below) on the latest of (i) the date of exercise designated in the written
notice referred to in Section 4(a) below, (ii) if the date so designated is not
a Business Day, the first Business Day following such date or (iii) the earliest
Business Day by which the Company has received all of the following:

                                        3
<PAGE>
          (a) Written notice, in such form as the Committee may require,
     containing such representations and warranties as the Committee may require
     and designating, among other things, the date of exercise and the number of
     Option Shares to be purchased;

          (b) Payment of the Exercise Price for each Option Share to be
     purchased in any (or a combination) of the following forms: (i) cash, (ii)
     check, (iii) the delivery, together with a properly executed exercise
     notice, of irrevocable instructions to a broker to deliver promptly to the
     Company the amount of sale or loan proceeds required to pay the Exercise
     Price (and, if applicable the Required Withholding Amount, as described in
     Section 5 below), and/or (iv) any other form of payment contemplated by the
     Plan, as the Committee may permit; and

          (c) Any other documentation that the Committee may reasonably require.

          5. MANDATORY WITHHOLDING FOR TAXES. The Grantee acknowledges and
agrees that the Company will deduct from the shares of LBTYA otherwise
deliverable upon exercise of the Option that number of shares of LBTYA (valued
at their Fair Market Value on the date of exercise) that is equal to the amount,
if any, of all federal, state and local taxes required to be withheld by the
Company upon such exercise, as determined by the Committee (the "Required
Withholding Amount"). If the Grantee elects to make payment of the Exercise
Price by delivery of irrevocable instructions to a broker to deliver promptly to
the Company the amount of sale or loan proceeds required to pay the Exercise
Price, such instructions may also include instructions to deliver the Required
Withholding Amount to the Company. In such case, the Company will notify the
broker promptly of the Committee's determination of the Required Withholding
Amount.

          6. PAYMENT OR DELIVERY BY THE COMPANY. As soon as practicable after
receipt of all items referred to in Section 4, and subject to the withholding
referred to in Section 5, the Company will deliver or cause to be delivered to
the Grantee (i) certificates issued in the Grantee's name for the number of
Option Shares purchased upon exercise of the Option, and (ii) any cash payment
to which the Grantee is entitled in lieu of a fractional share of LBTYA, as
provided in Section 2 above. Any delivery of shares of LBYTA will be deemed
effected for all purposes when certificates representing such shares have been
delivered personally to the Grantee or, if delivery is by mail, when the stock
transfer agent of the Company has deposited the certificates in the United
States mail, addressed to the Grantee, and any cash payment will be deemed
effected when a check from the Company, payable to the Grantee and in the amount
equal to the amount of the cash payment, has been delivered personally to the
Grantee or deposited in the United States mail, addressed to the Grantee.

          7. EARLY TERMINATION OF THE OPTION. Unless otherwise determined by the
Committee in its sole discretion, the Option will terminate, prior to the
expiration of the Term, at the time specified below:

                                        4
<PAGE>
          (a) Subject to Section 7(b), if Termination of Service occurs other
     than (i) by the Company or a Subsidiary (whether for Cause or without
     Cause) or (ii) by reason of Grantee's death or Disability, then the Option
     will terminate at the Close of Business on the first Business Day following
     the expiration of the 90-day period which began on the date of Termination
     of Service.

          (b) If the Grantee dies (i) prior to Termination of Service or prior
     to the expiration of a period of time following Termination of Service
     during which the Option remains exercisable as provided in Section 7(a) or
     Section 7(c), as applicable, the Option will terminate at the Close of
     Business on the first Business Day following the expiration of the one-year
     period which began on the date of the Grantee's death, or (ii) prior to the
     expiration of a period of time following Termination of Service during
     which the Option remains exercisable as provided in Section 7(d), the
     Option will terminate at the Close of Business on the first Business Day
     following the expiration of (A) the one-year period which began on the date
     of the Grantee's death or (B) the Special Termination Period, whichever
     period is longer.

          (c) Subject to Section 7(b), if Termination of Service occurs by
     reason of Disability, then the Option will terminate at the Close of
     Business on the first Business Day following the expiration of the one-year
     period which began on the date of Termination of Service.

          (d) If Termination of Service is by the Company or a Subsidiary
     without Cause (as determined in the sole discretion of the Committee), the
     Option will terminate at the Close of Business on the first Business Day
     following the expiration of the Special Termination Period. The Special
     Termination Period is the period of time beginning on the date of
     Termination of Service and continuing for the number of days that is equal
     to the sum of (a) 90, plus (b) 180 multiplied by the Grantee's total Years
     of Continuous Service. A Year of Continuous Service means a consecutive
     12-month period, measured by the Grantee's hire date (as reflected in the
     payroll records of the Company or a Subsidiary) and the anniversaries of
     that date, during which the Grantee is employed by the Company or a
     Subsidiary without interruption. For purposes of determining the Grantee's
     Years of Continuous Service, Grantee's employment with the Company's former
     parent, Liberty Media Corporation ("LMC"), and any predecessor of the
     Company or LMC will be included, provided that the Grantee's hire date with
     the Company or a Subsidiary occurred within 30 days following the Grantee's
     termination of employment with LMC or such predecessor. If the Grantee was
     employed by a Subsidiary at the time of such Subsidiary's acquisition by
     the Company, the Grantee's employment with the Subsidiary prior to the
     acquisition date will not be included in determining the Grantee's Years of
     Continuous Service unless the Committee, in its sole discretion, determines
     that such prior employment will be included.

          (e) If Termination of Service is by the Company or a Subsidiary for
     Cause, then the Option will terminate immediately upon such Termination of
     Service.

                                        5
<PAGE>
          In any event in which the Option remains exercisable for a period of
time following the date of Termination of Service as provided above, the Option
may be exercised during such period of time only to the extent the same was
exercisable as provided in Section 3 above on such date of Termination of
Service. Unless the Committee otherwise determines, neither a change of the
Grantee's employment from the Company to a Subsidiary or from a Subsidiary to
the Company or another Subsidiary, nor a change in Grantee's status from an
independent contractor to an employee, will be a Termination of Service for
purposes of this Agreement if such change of employment or status is made at the
request or with the express consent of the Company. Unless the Committee
otherwise determines, however, any such change of employment or status that is
not made at the request or with the express consent of the Company and any
change in Grantee's status from an employee to an independent contractor will be
a Termination of Service within the meaning of this Agreement. Notwithstanding
any period of time referenced in this Section 7 or any other provision of this
Section 7 that may be construed to the contrary, the Option will in any event
terminate upon the expiration of the Term.

          8. NONTRANSFERABILITY. During the Grantee's lifetime, the Option is
not transferable (voluntarily or involuntarily) other than pursuant to a
Domestic Relations Order and, except as otherwise required pursuant to a
Domestic Relations Order, is exercisable only by the Grantee or the Grantee's
court appointed legal representative. The Grantee may designate a beneficiary or
beneficiaries to whom the Option will pass upon the Grantee's death and may
change such designation from time to time by filing a written designation of
beneficiary or beneficiaries with the Committee on the form annexed hereto as
Exhibit B or such other form as may be prescribed by the Committee, provided
that no such designation will be effective unless so filed prior to the death of
the Grantee. If no such designation is made or if the designated beneficiary
does not survive the Grantee's death, the Option will pass by will or the laws
of descent and distribution. Following the Grantee's death, the Option, if
otherwise exercisable, may be exercised by the person to whom such right passes
according to the foregoing and such person will be deemed the Grantee for
purposes of any applicable provisions of this Agreement.

          9. NO STOCKHOLDER RIGHTS. Prior to the exercise of the Option in
accordance with the terms and conditions set forth in this Agreement, the
Grantee will not be deemed for any purpose to be, or to have any of the rights
of, a stockholder of the Company with respect to any Option Shares, nor will
the existence of this Agreement affect in any way the right or power of the
Company or its stockholders to accomplish any corporate act, including, without
limitation, the acts referred to in Section 11.16 of the Plan.

          10. ADJUSTMENTS. If the outstanding shares of LBTYA are subdivided
into a greater number of shares (by stock dividend, stock split,
reclassification or otherwise) or are combined into a smaller number of shares
(by reverse stock split, reclassification or otherwise), or if the Committee
determines that any stock dividend, extraordinary cash dividend,
reclassification, recapitalization, reorganization, split-up, spin-off,
combination, exchange of shares, warrants or rights offering to purchase any
shares of LBTYA, or other similar corporate event (including mergers or
consolidations other than those which constitute Approved Transactions, which
shall be governed by Section 11.1(b) of the Plan) affects shares of LBTYA such
that an adjustment is required to preserve the benefits or potential benefits
intended to be

                                        6
<PAGE>
made available under this Agreement, then the Option will be subject to
adjustment (including, without limitation, as to the number of Option Shares and
the Exercise Price per share ) in the sole discretion of the Committee and in
such manner as the Committee may deem equitable and appropriate in connection
with the occurrence of any of the events described in this Section 10 following
the Effective Date.

          11. RESTRICTIONS IMPOSED BY LAW. Without limiting the generality of
Section 11.8 of the Plan, the Grantee will not exercise the Option, and the
Company will not be obligated to make any cash payment or issue or cause to be
issued any shares of LBTYA, if counsel to the Company determines that such
exercise, payment or issuance would violate any applicable law or any rule or
regulation of any governmental authority or any rule or regulation of, or
agreement of the Company with, any securities exchange or association upon which
shares of LBTYA are listed or quoted. The Company will in no event be obligated
to take any affirmative action in order to cause the exercise of the Option or
the resulting payment of cash or issuance of shares of LBYTA to comply with any
such law, rule, regulation or agreement.

          12. NOTICE. Unless the Company notifies the Grantee in writing of a
different procedure, any notice or other communication to the Company with
respect to this Agreement will be in writing and will be delivered personally or
sent by United States first class mail, postage prepaid and addressed as
follows:

                    Liberty Media International, Inc.
                    12300 Liberty Boulevard
                    Englewood, Colorado 80112
                    Attn: General Counsel

Any notice or other communication to the Grantee with respect to this Agreement
will be in writing and will be delivered personally, or will be sent by United
States first class mail, postage prepaid, to the Grantee's address as listed in
the records of the Company on the Effective Date, unless the Company has
received written notification from the Grantee of a change of address.

          13. AMENDMENT. Notwithstanding any other provision hereof, this
Agreement may be supplemented or amended from time to time as approved by the
Committee as contemplated in Section 11.7(b) of the Plan. Without limiting the
generality of the foregoing, without the consent of the Grantee,

          (a) this Agreement may be amended or supplemented from time to time as
     approved by the Committee (i) to cure any ambiguity or to correct or
     supplement any provision herein which may be defective or inconsistent with
     any other provision herein, or (ii) to add to the covenants and agreements
     of the Company for the benefit of the Grantee or surrender any right or
     power reserved to or conferred upon the Company in this Agreement, subject
     to any required approval of the Company's stockholders and, provided, in
     each case, that such changes or corrections will not adversely affect the
     rights of the Grantee with respect to the Award evidenced hereby, or (iii)
     to make such other changes as the Company, upon advice of counsel,
     determines are necessary or

                                        7
<PAGE>
     advisable because of the adoption or promulgation of, or change in or of
     the interpretation of, any law or governmental rule or regulation,
     including any applicable federal or state securities laws; and

          (b) subject to any required action by the Board or the stockholders of
     the Company, the Option granted under this Agreement may be canceled by the
     Company and a new Award made in substitution therefor, provided that the
     Award so substituted will satisfy all of the requirements of the Plan as of
     the date such new Award is made and no such action will adversely affect
     any Option to the extent then exercisable.

          14. GRANTEE EMPLOYMENT. Nothing contained in this Agreement, and no
action of the Company or the Committee with respect hereto, will confer or be
construed to confer on the Grantee any right to continue in the employ or
service of the Company or any of its Subsidiaries or interfere in any way with
the right of the Company or any Subsidiary to terminate the Grantee's employment
or service at any time, with or without cause.

          15. NONALIENATION OF BENEFITS. Except as provided in Section 8 of this
Agreement, (i) no right or benefit under this Agreement will be subject to
anticipation, alienation, sale, assignment, hypothecation, pledge, exchange,
transfer, encumbrance or charge, and any attempt to anticipate, alienate, sell,
assign, hypothecate, pledge, exchange, transfer, encumber or charge the same
will be void, and (ii) no right or benefit hereunder will in any manner be
liable for or subject to the debts, contracts, liabilities or torts of the
Grantee or other person entitled to such benefits.

          16. GOVERNING LAW. This Agreement will be governed by, and construed
in accordance with, the internal laws of the State of Colorado. Each party
irrevocably submits to the general jurisdiction of the state and federal courts
located in the State of Colorado in any action to interpret or enforce this
Agreement and irrevocably waives any objection to jurisdiction that such party
may have based on inconvenience of forum.

          17. CONSTRUCTION. References in this Agreement to "this Agreement" and
the words "herein," "hereof," "hereunder" and similar terms include all Exhibits
and Schedules appended hereto. The word "include" and all variations thereof are
used in an illustrative sense and not in a limiting sense. All decisions of the
Committee upon questions regarding this Agreement will be conclusive. Unless
otherwise expressly stated herein, in the event of any inconsistency between the
terms of the Plan and this Agreement, the terms of the Plan will control. The
headings of the sections of this Agreement have been included for convenience of
reference only, are not to be considered a part hereof and will in no way modify
or restrict any of the terms or provisions hereof.

          18. DUPLICATE ORIGINALS. The Company and the Grantee may sign any
number of copies of this Agreement. Each signed copy will be an original, but
all of them together represent the same agreement.

                                        8
<PAGE>
          19. RULES BY COMMITTEE. The rights of the Grantee and the obligations
of the Company hereunder will be subject to such reasonable rules and
regulations as the Committee may adopt from time to time.

          20. ENTIRE AGREEMENT. This Agreement is in satisfaction of and in lieu
of all prior discussions and agreements, oral or written, between the Company
and the Grantee regarding the subject matter hereof. The Grantee and the Company
hereby declare and represent that no promise or agreement not herein expressed
has been made and that this Agreement contains the entire agreement between the
parties hereto with respect to the Award and replaces and makes null and void
any prior agreements between the Grantee and the Company regarding the Award.
This Agreement will be binding upon and inure to the benefit of the parties and
their respective heirs, successors and assigns.

          21. GRANTEE ACCEPTANCE. The Grantee will signify acceptance of the
terms and conditions of this Agreement by signing in the space provided at the
end hereof and returning a signed copy to the Company.

                                        9
<PAGE>
          SIGNATURE PAGE TO NON-QUALIFIED STOCK OPTION AGREEMENT

     DATED AS OF ________, 200__ BETWEEN LIBERTY MEDIA INTERNATIONAL, INC.,
                                  AND GRANTEE

                                      LIBERTY MEDIA INTERNATIONAL, INC.

                                      By:
                                          --------------------------------------
                                      Name:
                                            ------------------------------------
                                      Title:
                                             -----------------------------------

                                      ACCEPTED:

                                      ------------------------------------------
                                      Grantee Name:
                                                    ----------------------------
                                      Address:
                                               ---------------------------------

                                      SSN:
                                           -------------------------------------

Number of shares of LBTYA as to which Option is granted
                                                        ------------------------

                                       10
<PAGE>
                                    EXHIBIT A
                                       TO
                      NON-QUALIFIED STOCK OPTION AGREEMENT
      DATED AS OF _______, 200__ BETWEEN LIBERTY MEDIA INTERNATIONAL, INC.
                                  AND GRANTEE

                                       11
<PAGE>
                                    EXHIBIT B
                                       TO
                      NON-QUALIFIED STOCK OPTION AGREEMENT
      DATED AS OF ________, 200__ BETWEEN LIBERTY MEDIA INTERNATIONAL, INC.
                                  AND GRANTEE

                           DESIGNATION OF BENEFICIARY

     I, ___________________________________________ (the "Grantee"), hereby
declare that upon my death ____________________________________ (the
"Beneficiary") of                          Name

_______________________________________________________________________________,
 Street Address         City              State                 Zip Code

who is my ______________________________________________________, will be
entitled to the          Relationship to Grantee

Option and all other rights accorded the Grantee by the above-referenced grant
agreement (the "Agreement").

          It is understood that this Designation of Beneficiary is made pursuant
to the Agreement and is subject to the conditions stated herein, including the
Beneficiary's survival of the Grantee's death. If any such condition is not
satisfied, such rights will devolve according to the Grantee's will or the laws
of descent and distribution.

          It is further understood that all prior designations of beneficiary
under the Agreement are hereby revoked and that this Designation of Beneficiary
may only be revoked in writing, signed by the Grantee, and filed with the
Company prior to the Grantee's death.

--------------------------              --------------------------
Date                                    Grantee

                                       12

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