Document:

EX-10.24

 Exhibit 10.24 

BROADCASTING MEDIA PARTNERS, INC. 

2010 EQUITY INCENTIVE PLAN 

AMENDED AND RESTATED NOTICE OF STOCK
OPTION GRANT 
 THIS AMENDED AND RESTATED NOTICE OF STOCK OPTION GRANT (the “Notice”), is
effective as of October 15, 2014 (the “Amendment Date”). 
 WHEREAS, the Participant was previously granted an award
of Nonqualified Stock Options pursuant to the terms and conditions of a Notice of Stock Option Grant and Option Award Agreement by and between the Company and the Participant, each dated October 24, 2011 (together, the “Original
Agreement”); 
 WHEREAS, the parties hereto desire to amend and restate the Original Agreement pursuant to the terms of this Notice
and the attached Agreement; 
 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows: 
  

			
	Participant:	  	Randel A. Falco
		
	Number of Shares Subject to Option:	  	21,192 shares of Common Stock, par value $0.001 per share (“Shares”) of Broadcasting Media Partners, Inc. (the “Company”), which shall be allocated into two tranches: 13,307 Tranche 1 Shares
(“Tranche 1”) and 7,885 Tranche 2 Shares (“Tranche 2”).
		
	Type of Option:	  	Nonqualified Stock Option
		
	Exercise Price Per Share:	  	 Tranche 1: $197.95
  

Tranche 2: $395.90

		
	Grant Date:	  	October 24, 2011
		
	Vesting Commencement Date:	  	January 17, 2011
		
	Date Exercisable:	  	This Option shall become exercisable for Shares or Restricted Stock as provided in Section 2(a) or Section 2(e) of this Option Award Agreement.
		
	Vesting Schedule:	  	 The Tranche 1 and Tranche 2 Shares subject to this Option shall vest as follows:

 
 One-fifth (20%) of each of the Tranche 1 Shares and Tranche 2 Shares shall vest on each of
the first five anniversaries of the Vesting Commencement Date noted above (each such date a “Vesting Date”); provided Participant’s Service has not terminated prior to the applicable Vesting Date and the vesting of any
Shares has not been accelerated as provided below. If a fraction of a Share is scheduled to vest on a Vesting Date, then a whole Share shall vest in lieu thereof, and a corresponding adjustment shall be made to the remainder of the Shares scheduled
to vest such that no fractional Shares are subject to vesting.

  
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	Additional Vesting Terms:	  	 The Participant shall vest, upon the Participant’s termination of Service with Univision Communications Inc. and its subsidiaries and
affiliates (“Univision”) without Cause, resignation for Good Reason or by reason of his or her death or Permanent Disability (in each case, a “Protected Termination”), in a portion of the unvested Shares subject to
each Tranche of the Option determined by (i) multiplying the number of Shares underlying such Tranche of the Option by a fraction (not greater than one), the numerator of which is the sum of the number of full and partial months of Service since the
Vesting Commencement Date plus twelve (12) months and the denominator of which is sixty (60) and (ii) subtracting from such amount the number of Shares underlying the portion of such Tranche of the Option that has already vested prior to such
Protected Termination. The vesting requirement with respect to the Shares underlying each Tranche of the Option shall be deemed to be fully satisfied upon the Participant’s termination of Service (i) by the Company without Cause or by
Participant with Good Reason, in each case, within the one-hundred eighty (180) day period immediately preceding a Change of Control; provided, the Participant reasonably demonstrates that such termination is otherwise in connection with or
in anticipation of a Change of Control that actually occurs within 180 days following such termination, or (ii) due to a Protected Termination on or following a Change of Control.

 
 If the Participant’s employment with Univision is terminated for Cause, the Company
shall have the right to purchase any Shares acquired pursuant to the exercise of this Option at the lesser of the Participant’s cost or the Fair Market Value of such Shares; provided, however, that if this Option would be subject
to California law (as provided in Section 2(d) of the Agreement), such Company purchase right shall be subject to the additional requirements with respect to Options subject to California law set forth in Section 9(c) of the Agreement;
provided, further, that such Company purchase right shall lapse as provided in Section 9(f) of the Agreement. If the Participant resigns after an inquiry by the Company as to the existence of Cause has been initiated and Cause existed
as of the date of such resignation, this Option shall not be exercisable and the Company shall have the same right to purchase any Shares acquired pursuant to the exercise of this Option as if the Participant’s employment had been terminated
for Cause.

		
	Definitions:	  	Capitalized terms are defined in the Agreement and in the Plan to the extent not defined in this Notice.
		
	Miscellaneous	  	This Option is granted under and governed by the terms and conditions of Broadcasting Media Partners, Inc. 2010 Equity Incentive Plan (the “Plan”) and the Amended and Restated Stock Option Agreement attached hereto
as Exhibit A (the “Agreement”), both of which are hereby made a part of this Notice. This Notice, together with the Agreement, the Plan, and the Stockholders Agreement (or such other stockholders agreement entered into between the
Company and the Participant) and any employment or consulting agreement between the Participant and the Company constitute the entire contract between the parties hereto with

  
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		  	regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) which relate to the subject matter hereof, including, without
limitation, the Original Agreement.

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the Company and the Participant have executed this Notice as of the Amendment Date. 

 

			
	BROADCASTING MEDIA PARTNERS, INC.
		
	By:	 	/s/ Jonathan Schwartz 10/16/14
		 	  

	Name:	 	Jonathan Schwartz
		 	Executive Vice President & General Counsel
		
	By:	 	  

	Name:	 	
	
	PARTICIPANT
	
	 /s/ Randel A. Falco

	Randel A. Falco

  
 [SIGNATURE PAGE TO
AMENDED AND RESTATED OPTION NOTICE – 10/24/11 Grant] 

 EXHIBIT A 

Broadcasting Media Partners, Inc. 

2010 Equity Incentive Plan 

Amended and Restated Option Award Agreement 
  

	SECTION 1.	GRANT OF OPTION 

  

	 	(a)	Option. On the terms and conditions set forth in this Agreement and the Amended and Restated Notice of Stock Option Grant referencing this Agreement (the “Notice”), Broadcasting Media Partners,
Inc. (the “Company”) hereby grants to the Participant an option under the terms set forth in the Notice (the “Option”) pursuant to and in accordance with the terms of the Broadcasting Media Partners, Inc. 2010
Equity Incentive Plan (the “Plan”). Each Notice, together with this referenced Agreement, shall be a separate award governed by the terms of this Agreement and the Plan. This Agreement shall apply both to this Option and to the
Shares acquired upon the exercise of this Option. 

  

	 	(b)	Adjustment of Award. The number of Shares subject to this Option is subject to adjustment following the occurrence of certain events affecting the Company, as provided in Section 10 of the Plan.

  

	 	(c)	Equity Incentive Plan and Defined Terms. This Option is granted under and subject to the terms of the Plan. Capitalized terms are defined in the Notice and in the Plan to the extent not defined in this Agreement.

  

	SECTION 2.	RIGHT TO EXERCISE 

  

	 	(a)	General. Subject to the conditions set forth in this Agreement, all or part of this Option may be exercised by the Participant (or in the case of the Participant’s death or Permanent Disability, the
Participant’s representative) to the extent it has vested; provided, that, the Company shall have the right not to deliver Shares upon the exercise of this Option if, after the exercise of this Option, the Participant’s
Service is terminated for Cause or the Participant resigns after an inquiry as to whether Cause exists has been initiated and Cause existed as of the date of such resignation. 

 

	 	(b)	Vesting. Subject to the conditions set forth in this Agreement, this Option shall vest at the time or times set forth in the Notice. 

 

	 	(c)	 Expiration. This Option shall expire on the earliest to occur of the following: (i) the tenth (10th) anniversary of the date of
grant; (ii) ninety (90) days following termination of Participant’s Service for any reason other than death, Permanent Disability, Cause, termination without Cause, voluntary resignation with Good Reason, or voluntary resignation
without Good Reason prior to the third (3rd) anniversary of the Vesting Commencement Date (as defined in the Notice); (iii) one-hundred eighty one (181) days following termination of Participant’s Service without Cause (other
than due to death or Permanent Disability) or by voluntary resignation with Good Reason; (iv) one (1) year following termination of Participant’s Service 

  
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due to death or Permanent Disability; and (v) immediately on the date Participant’s Service terminates for Cause or as a result of voluntary resignation without Good Reason prior to the
third (3rd) anniversary of the Vesting Commencement Date. Subject to Section 2(e), the Participant (or in the case of the Participant’s death or Permanent Disability, the Participant’s representative) may exercise all or part of
this Option at any time before its expiration under the preceding sentence, but only to the extent that this Option has vested on or before the date the Participant’s Service terminates (except as otherwise provided in the Notice). Except as
otherwise set forth in the Notice, when the Participant’s Service terminates, this Option shall expire immediately with respect to the number of Shares for which this Option is not yet vested. 

 

	 	(d)	Expiration if Option is Subject to California Law. Notwithstanding anything to the contrary, if this Option would be subject to Section 25110 of the California Corporations Code or any successor law but for
the exemption contained in Section 25102(o) of the California Corporations Code (or any successor law), as provided under Appendix I of the Plan, this Option shall expire on the earliest to occur of the following: (i) the tenth
(10th) anniversary of the date of grant; (ii) ninety (90) days following termination of Participant’s Service for any reason other than death, Permanent Disability, Cause, termination without Cause, or voluntary resignation with
Good Reason; (iii) one-hundred eighty one (181) days following termination of Participant’s Service without Cause (other than due to death or Permanent Disability) or by voluntary resignation with Good Reason; (iv) one
(1) year following termination of Participant’s Service due to death or Permanent Disability; and (v) immediately on the date Participant’s Service terminates for Cause. Subject to Section 2(e), the Participant (or in the
case of the Participant’s death or Permanent Disability, the Participant’s representative) may exercise all or part of this Option at any time before its expiration under the preceding sentence, but only to the extent that this Option has
vested on or before the date the Participant’s Service terminates (except as otherwise provided in the Notice). Except as otherwise set forth in the Notice, when the Participant’s Service terminates, this Option shall expire immediately
with respect to the number of Shares for which this Option is not yet vested. 

  

	 	(e)	Exercisable for Restricted Stock: With the consent of the Committee, to be provided in its sole discretion, this Option may be exercised for Restricted Stock that has the same vesting requirements as this Option
and such other restrictions as determined by the Committee and as set forth in a Restricted Stock Award Agreement to be provided by the Company. As a condition to exercising this Option for Restricted Stock, the Participant shall execute a
Restricted Stock Award Agreement. 

  

	SECTION 3.	EXERCISE PROCEDURES 

  

	 	(a)	 Notice of Exercise. The Participant (or, if applicable the Participant’s representative) may exercise this Option by giving written notice
to the Company specifying the election to exercise this Option, the number of Shares for which it is being exercised and the form of payment. Schedule 1 is an example of a “Notice of Exercise”. The

  
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Notice of Exercise shall be signed by the person exercising this Option. In the event that this Option is being exercised by the Participant’s representative, the notice shall be accompanied
by proof (satisfactory to the Committee) of the representative’s right to exercise this Option. The Participant or the Participant’s representative shall deliver to the Company, at the time of giving the notice, payment in a form
permissible under Section 4 hereof for an amount equal to the Exercise Price (as set forth in the Notice) multiplied by the number of Shares with respect to which this Option is being exercised (the “Purchase Price”).

  

	 	(b)	Issuance of Shares. After receiving a proper notice of exercise and subject to the terms of the Plan, the Notice and this Agreement, the Company shall cause to be issued a certificate or certificates for the
Shares as to which this Option has been exercised, registered in the name of the person exercising this Option; provided that prior to the delivery of the Shares, the Participant enters a joinder to the Stockholders Agreement, or such other
agreement in a form and substance satisfactory to the Company. 

  

	 	(c)	Withholding Requirements. The Company may withhold any tax (or other governmental obligation) as a result of the exercise of this Option, as a condition to the exercise of this Option, and the Participant shall
make arrangements satisfactory to the Company to enable it to satisfy all such withholding requirements. The Participant shall also make arrangements satisfactory to the Company to enable it to satisfy any withholding requirements that may arise in
connection with the vesting or disposition of Shares purchased pursuant to the exercise of this Option. 

  

	 	(d)	Legend. The Company shall cause to be issued a certificate or certificates for the Shares purchased pursuant to the exercise of this Option registered in the name of the Participant. Unless otherwise determined
by the Company, such certificate shall bear the following legend: 

 “THE VOTING OF THE SHARES OF STOCK REPRESENTED BY
THIS CERTIFICATE, AND THE SALE, ENCUMBRANCE OR OTHER DISPOSITION THEREOF, ARE SUBJECT TO THE PROVISIONS OF THAT CERTAIN STOCK OPTION AGREEMENT BETWEEN THE RECORD HOLDER OF THE SHARES OF STOCK REPRESENTED BY THE CERTIFICATE AND THE ISSUER. SUCH
AGREEMENT INCLUDES RESTRICTIONS AND LIMITATIONS ON THE TRANSFER OF THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE.” 
  

	SECTION 4.	PAYMENT FOR SHARES 

  

	 	(a)	Cash or Check. All or part of the Purchase Price may be paid in cash or personal check. 

  

	 	(b)	 Alternative Methods of Payment. During the term of the Participant’s Service with the Company and its subsidiaries and affiliates, or if
the Service of the Participant 

  
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terminates for any reason other than by the Company for Cause or by the Participant without Good Reason, all or any part of the Purchase Price and any applicable withholding requirements may, at
the election of the Participant, be paid by one or more of the following methods: 

  

	 	i.	Surrender of Shares. By surrendering of Shares then owned by the Participant; provided that such action would not cause the Company or any Subsidiary to recognize a compensation expense (or additional
compensation expense) with respect to the applicable Option for financial reporting purposes, unless the Committee consents thereto. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market
Value on the date of the applicable exercise of this Option. 

  

	 	ii.	Net Exercise. By reducing the number of Shares otherwise deliverable pursuant to this Option by the number of such Shares having a Fair Market Value on the date of exercise equal to the Purchase Price (and if
applicable, such required withholding). 

  

	 	iii.	Exercise/Sale. By delivering (on a form prescribed by the Company) an irrevocable direction (i) to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds
to the Company, or (ii) to pledge Shares to a securities broker or lender approved by the Company as security for a loan, and to deliver all or part of the loan proceeds to the Company, in each case in payment of all or part of the Purchase
Price and any withholding requirements. 

  

	SECTION 5.	Transfer Or Assignment Of Option. 

 This Option and the rights and privileges conferred
hereby shall not be sold, pledged or otherwise transferred (whether by operation of law or otherwise) other than by will or the laws of descent and distribution and shall not be subject to sale under execution, attachment, levy or similar process.

  

	SECTION 6.	SHAREHOLDER RIGHTS. 

  

	 	(a)	Stockholders Agreement. As a condition to the issuance of any Shares purchased upon exercise of this Option hereunder, the Participant shall enter into and execute a joinder to the Stockholders Agreement or such
other agreement in a form and substance satisfactory to the Company. 

  

	 	(b)	Rights as Shareholder. Until such time as the Shares acquired upon exercise of this Option are repurchased by the Company in accordance with the terms of this Agreement, the Participant (or any successor in
interest) shall have all the rights of a shareholder (including dividend and liquidation rights) with respect to such Shares. For the avoidance of doubt, the Participant shall have no rights as a stockholder with respect to the Shares underlying
this Option until such Shares have been issued pursuant to the terms of this Agreement. 

  

	 	(c)	Voting Rights. The Participant hereby appoints each Principal Investor as its proxy to vote the Shares acquired upon exercise of this Option, whether at a meeting or by written consent in accordance with the
provisions of Section 2 of the Stockholders Agreement (whether or not the Participant is required by the Company to execute a joinder to the Stockholders Agreement). The proxy granted hereby is irrevocable and coupled with an interest
sufficient in law to support an irrevocable power. Notwithstanding the above, this paragraph 6(c) shall cease to apply as to any such Shares upon the termination of the Stockholders Agreement as to such Shares. 

  
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	SECTION 7.	SECURITIES LAW ISSUES. 

  

	 	(a)	Securities Not Registered. The Shares acquired upon exercise of this Option have not been registered under the Securities Act. Any Shares acquired upon exercise of this Option are being issued to the Participant
in reliance upon either (i) the exemption from such registration provided by Rule 701 promulgated under the Securities Act for stock issuances under compensatory benefit plans such as the Plan or (ii) the exemption for grants made to
executive officers of the Company (or one of its Affiliates or Subsidiaries) under Section 4(2) and Regulation D of the Securities Act. 

  

	 	(b)	Participant Representations. The Participant hereby confirms that he or she has been informed that the Shares acquired upon exercise of this Option are “restricted securities” under the
Securities Act which may not be resold or transferred unless they are first registered under the Securities Act or unless an exemption from such registration is available. Accordingly, the Participant hereby represents and acknowledges as follows:

  

	 	i.	The Shares are being acquired for investment, and not with a view to sale or distribution thereof; and 

  

	 	ii.	The Participant is prepared to hold the Shares for an indefinite period and is aware that Rule 144 promulgated under the Securities Act (which exempts certain resales of securities) is not presently available to exempt
the resale of the Shares from the registration requirements of the Securities Act. 

  

	 	(c)	Registration. The Company may, but shall not be obligated, to register or qualify the Shares under the Securities Act or any other applicable law, except, solely with respect to Participants who are signatories
to or have executed a joinder with respect to the Registration Rights Agreement, as required under the Registration Rights Agreement. 

  

	 	(d)	 Market Stand-Off. In connection with any underwritten public offering by the Company of its equity securities pursuant to an effective
registration statement filed under the Securities Act, including the Company’s Initial Public Offering, the Participant hereby agrees, at the request of the Company or the managing underwriters, to be bound by and/or to execute and deliver, a
lock-up agreement with the underwriter(s) of such public offering restricting such Participant’s right to (a) Transfer, directly or indirectly, any Shares acquired under this Agreement or any

  
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securities convertible into or exercisable or exchangeable for such Shares or (b) enter into any swap or other arrangement that transfers to another any of the economic consequences of
ownership of Shares acquired under this Agreement, in each case to the extent that such restrictions are agreed to by the Majority Principal Investors (as defined in the Stockholders Agreement) (or a majority of the shares of Common Stock if there
are no Principal Investors remaining) with the underwriter(s) of such public offering (the “Principal Lock-Up Agreement”); provided, however, that the Participant shall not be required by this Section 7(d) to be bound by a
lock-up agreement covering a period of greater than 90 days (180 days in the case of the Initial Public Offering) following the effectiveness of the related registration statement. Notwithstanding the foregoing, such lock-up agreement shall not
apply to: (a) Transfers to Permitted Transferees of the Participant permitted in accordance with the terms of this Agreement, (b) conversions of Shares into other classes of Shares or securities without change of Participant and
(c) during the period preceding the execution of the underwriting agreement, Transfers to a charitable organization, described by Section 501(c)(3) of the Code, permitted in accordance with the terms of the Stockholders Agreement.

  

	 	(e)	Additional Restrictions. The Shares are subject to such additional restrictions as are set forth in the Stockholders Agreement and any employment or consulting agreement between the Participant and the Company or
any Subsidiary or Affiliate, as well as such other restrictions upon the sale, pledge or other transfer of such Shares (including the placement of appropriate legends on stock certificates or the imposition of stop-transfer instructions), that in
the judgment of the Company, are necessary or desirable in order to achieve compliance with the Securities Act or the securities laws of any state or any other law. 

 

	 	(f)	Participant Undertaking. The Participant agrees to take whatever additional actions and execute whatever additional documents that the Company may deem necessary or advisable to carry out or effect one or more of
the obligations or restrictions imposed on either the Participant or the Shares pursuant to the provisions of this Agreement or to comply with applicable laws. 

  

	SECTION 8.	TRANSFER OF SHARES 

  

	 	(a)	General Rule. Other than as set forth herein, the Shares acquired upon exercise of this Option may not be transferred to any person other than to the Company or to a Permitted Transferee in accordance with the
terms of the Stockholders Agreement (whether or not the Participant has executed a joinder to the Stockholders Agreement) or any other applicable agreement entered into by the Company and the Participant. Notwithstanding the above, this
Section 8(a) shall cease to apply as to any Shares acquired upon exercise of this Option upon an Initial Public Offering, subject to the Stockholders Agreement or any other applicable agreement entered into by the Company and the Participant.

  

	 	(b)	 Transferee Obligations. If the Shares acquired upon exercise of this Option are transferred to a Permitted Transferee, such Permitted
Transferee must, as a condition 

  
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precedent to the validity of such transfer, acknowledge in writing to the Company that such person is bound by the provisions of this Agreement to the same extent such Shares would be so subject
if retained by the Participant. 

  

	 	(c)	Drag-Along Rights. The Shares acquired upon exercise of this Option shall be subject to the Drag-Along Rights as set forth in Sections 4.2 and 4.3 of the Stockholders Agreement (whether or not the Participant is
a signatory thereof), the provisions of such Sections 4.2 and 4.3 of the Stockholders Agreement to apply mutatis mutandis to this Agreement. The Participant shall be deemed to have appointed each member of the Principal Investors, with full power of
substitution, as the Participant’s true and lawful representative and attorney-in-fact, in such Participant’s name, place and stead, to execute and deliver any and all agreements that the members of the Principal Investors reasonably
believe are consistent with the purposes of Sections 4.2 and 4.3 of the Stockholders Agreement. The foregoing power of attorney is coupled with an interest sufficient in law to support an irrevocable power and shall continue in full force and effect
notwithstanding the subsequent death, incapacity, bankruptcy or dissolution of any Participant. 

  

	 	(d)	Tag-Along Rights. The Shares shall be subject to the Tag-Along Rights as, and to the extent, set forth in Section 4.1 of the Stockholders Agreement (whether or not the Participant is a signatory thereof),
the provisions of such Section 4.1 of the Stockholders Agreement to apply mutatis mutandis to this Agreement. 

  

	 	(e)	Additional Shares or Substituted Securities. In the event of the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, a stock split, an
adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or additional securities or other property (including money paid
other than as an ordinary cash dividend) which are by reason of such transaction distributed with respect to any of the Shares acquired upon exercise of this Option or into which such Shares thereby become convertible shall immediately be subject to
this Section 8. 

  

	SECTION 9.	CALL RIGHT 

  

	 	(a)	Call Right. If the Participant’s Service with the Company ceases for any reason, the Company shall have the right (but not an obligation) to call any Shares acquired upon exercise of this Option.

  

	 	(b)	Exercise Notice. In the event the Company wishes to exercise its Call Right, the Company shall notify the Participant (or any Permitted Transferee to whom the Shares have been transferred) by written notice that
the Company has elected to exercise such right, and the number of Shares with respect to which the right is being exercised. 

  

	 	(c)	 Execution of Call. The closing of any purchase and sale pursuant to the Call Right shall take place at the principal office of the Company as
soon as reasonably 

  
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practicable and in no event later than thirty (30) days after the date of the Company’s exercise notice described in Section 9(b) or at such other time and location as the parties
to such purchase may mutually determine; provided, however, that if this Option would be subject to California law. as provided in Section 2(d) of this Agreement, the closing of any purchase and sale pursuant to the Call right shall in no event
take place later than ninety (90) days after the date of termination of the Participant’s Service. 

  

	 	(d)	Purchase Price. If the Company exercises the Call Right, the Participant shall sell, and shall cause any Permitted Transferee to whom Shares acquired pursuant to exercise of this Option have been transferred to
sell (and such Permitted Transferee shall sell), to the Company all of the Shares subject to the Call Right and the Company shall purchase each such Share for its Fair Market Value on the date of the issuance of the Company’s exercise notice
pursuant to Section 9(b); provided, that, in the event of a termination of the Participant’s Service (i) by the Company for Cause, (ii) by the Participant’s resignation after an inquiry by the Company as to the existence of
Cause has been initiated and Cause existed as of the date of such resignation, or (iii) by the Participant’s voluntary resignation without Good Reason prior to the third (3rd) anniversary of the Vesting Commencement Date, then the
purchase price pursuant to the Call Right shall equal the lesser of the amount paid by the Participant or such Fair Market Value. The Company shall make commercially reasonable efforts, as determined by the Board of Directors in good faith, to pay
all or any portion of the repurchase price in cash. However, if the Company cannot make all or any portion of the payment in cash it shall issue a promissory note with a principal amount equal to the amount of the repurchase price which was not paid
in cash (e.g., the full amount or a portion thereof, as applicable), on which interest will accrue on the principal thereof at a rate equal to the prime rate and the principal, together with the interest thereon, will become due and payable, to the
extent commercially reasonable (as determined by the Board of Directors), in three equal annual installments, payable on the first, second and third anniversaries of the date of issuance thereof. 

 

	 	(e)	Change of Control. Notwithstanding the foregoing, if (i) the Company enters into a definitive agreement with respect to a Change of Control of the Company within three (3) months following the
Company’s delivery to the Participant of a notice of exercise of the Call Right in accordance with Section 9(b), (ii) within twelve (12) months following the initial signing of such definitive agreement, a Change of Control is
consummated pursuant to the terms of such definitive agreement (including such agreement as may be amended within such period), and (iii) the net cash proceeds realized per Share with respect to such Change of Control exceeds the per Share
purchase price sold by the Participant in connection with the Cali Right, then the Participant shall be entitled to an additional payment as part of the sales price as soon as reasonably practicable following such Change of Control, equal to the
excess of the per Share net cash proceeds realized over the per Share purchase price of the Call Right, multiplied by the number of Shares of Common Stock previously sold by Participant in connection with the Call Right. This Section 9(e) shall
not apply if the Company exercises the Call Right following the Participant’s termination for Cause or the Participant’s resignation after an inquiry by the Company as to the existence of Cause has been initialed and Cause existed as of
the date of such resignation. 

  
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	 	(f)	Lapse of Rights. The Call Right shall lapse upon the earlier of (i) the eighteen (18) month anniversary of the Participant’s termination of Service, or (ii) an Initial Public Offering;
provided, however, that the Company’s rights to purchase Shares upon the Participant’s (A) termination for Cause (or the Participant’s resignation after an inquiry as to whether Cause exists has been initiated and Cause existed
as of the date of such resignation) or (B) material breach of the restrictive covenants set forth in Sections 8.1 and 8.2 of the employment and non-competition agreement dated January 14, 2011 by and between the Company and the
Participant, as amended and may be amended from time to time or such provisions as may govern similar restrictions in any subsequent employment agreement between the Participant and the Company or any subsidiary or affiliated thereof, shall lapse
only upon an Initial Public Offering. 

  

	 	(g)	Additional Shares or Substituted Securities. In the event of the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, a stock split, an
adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or additional securities or other property (including money paid
other than as an ordinary cash dividend) which are by reason of such transaction distributed with respect to any of the Shares subject to the Call Right or into which such Shares thereby become convertible shall immediately be subject to this
Section 9. 

  

	 	(h)	Termination of Rights as Shareholder. If the Company makes available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Shares to be purchased in accordance
with this Section 9, then after such time the person from whom such Shares are to be purchased shall no longer have any rights as a holder of such Shares (other than the right to receive payment of such consideration in accordance with this
Agreement). Such Shares shall be deemed to have been purchased in accordance with the applicable provisions hereof, whether or not the certificate(s) therefor have been delivered as required by this Agreement. 

 

	SECTION 10.	MISCELLANEOUS PROVISIONS 

  

	 	(a)	No Retention Rights. Nothing in this Agreement or in the Plan shall confer upon the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any
way the rights of the Company (or any Subsidiary or Affiliate employing or retaining the Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or
without cause. 

  

	 	(b)	Notification. Any notice required by the terms of this Agreement shall be given in writing and shall be deemed effective upon personal delivery or upon deposit with the United States Postal Service, by registered
or certified mail, or a nationally recognized overnight express mail service with postage and fees prepaid. Notice shall be addressed to the Company at its principal executive office and to the Participant at the address that he or she most recently
provided to the Company. 

  
 9 

	 	(c)	Entire Agreement. This Agreement, the Notice, the Plan, the Stockholders Agreement (or such other stockholders agreement entered into between the Company and the Participant) and any employment or consulting
agreement between the Participant and the Company constitute the entire contract between the parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and
whether express or implied) which relate to the subject matter hereof, including, without limitation, that certain Notice of Stock Option Grant and Option Award Agreement by and between the Company and the Participant, each dated October 24,
2011. 

  

	 	(d)	Waiver. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or condition whether of like or different nature. 

 

	 	(e)	Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and upon the Participant, the Participant’s assigns and
the legal representatives, heirs and legatees of the Participant’s estate, whether or not any such person shall have become a party to this Agreement and have agreed in writing to be join herein and be bound by the terms hereof.

  

	 	(f)	Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, as such laws are applied to contracts entered into and performed in such State.

  

	SECTION 11.	DEFINITIONS. 

  

	 	(a)	“Agreement” shall mean this Amended and Restated Option Award Agreement. 

  

	 	(b)	“Call Right” shall mean the Call Right described in Section 9 of this Agreement. 

  

	 	(c)	“Common Stock” shall mean the common stock, par value $0.001 per share, of the Company. 

  

	 	(d)	“Company” shall have the meaning described in Section 1(a) of this Agreement. 

  

	 	(e)	“Company Securities” shall mean Common Stock, or such other class or kind of shares or other securities resulting from an event described in Section 10 of the Plan. 

 

	 	(f)	 “Fair Market Value” For purposes of the Notice and Section 9 hereof, and except as otherwise modified in the Notice, shall mean
with respect to any Share (i) prior to an Initial Public Offering, the fair value of such Share based on an independent, third party valuation obtained by the Company from a nationally recognized appraiser and without any liquidity or minority
discounts and (ii) on and after an Initial Public Offering, Fair Market Value shall mean the average closing price of a Share over a period of 90 calendar days (45 days before and 45 days after the date of such valuation or, if Shares are not
publicly traded during any portion of such period, such other 90-day period that most closely resembles that period) (subject to appropriate 

  
 10 

	 	
equitable adjustments if Company Securities, other than the Shares remain outstanding at the time of determination). Prior to an Initial Public Offering, when determining the Fair Market Value,
the Participant may obtain a second independent, third party valuation from a nationally recognized appraiser. In the event the Participant’s valuation is within ten percent (10%) of the Company’s valuation, the average of the two
valuations shall be used. In the event the Participant’s valuation is greater than one hundred ten percent (110%) of the Company’s valuation, the Company and the Participant shall submit to binding baseball-type arbitration before a
single arbitrator, conducted in accordance with the commercial arbitration rules of the AAA. The Company shall pay the reasonable costs of the arbitrator. If the arbitrator selects the Participant’s valuation, the Company shall reimburse the
Participant for the reasonable cost of the Participant’s valuation and the Participant’s reasonable legal fees in conducting the arbitration. 

  

	 	(g)	“Good Reason” shall mean either (i) a material reduction in base salary or (ii) a relocation of the Participant’s primary office at least fifty (50) miles farther from both the
Participant’s then primary office location and the Participant’s then primary residence, provided the Participant gives notice to the Company of a Good Reason event within thirty (30) days of the occurrence event, the Company does not
cure such event within thirty (30) days of receipt of such notice and the Participant terminates employment within ten (10) days thereafter; provided, however, that if a Participant is a party to any employment or other agreement governing
the provision of services to the Company or any Subsidiary or Affiliate, and such agreement defines “Good Reason” (or term of like import), “Good Reason” shall have the meaning given to such term (or term of like
import) in such agreement. 

  

	 	(h)	“Initial Public Offering” shall mean (i) “initial public offering” as defined in the Stockholders Agreement and (ii) Company Securities otherwise becoming traded on a national
securities exchange. 

  

	 	(i)	“Liquidity Event” shall mean any event whereby the holder of the underlying Shares would be entitled to the tag-along rights set forth in Sections 4.1 of the Stockholders Agreement and/or would be
subject to the drag-along provisions set forth in Section 4.2 of the Stockholders Agreement, if such holder of the underlying Shares were a party to the Stockholders Agreement at the time of such event. 

 

	 	(j)	“Notice” shall have the meaning described in Section 1(a) of this Agreement. 

  

	 	(k)	“Participant” shall mean the person named in the Notice. 

  

	 	(l)	“Permanent Disability” shall mean “permanent disability” as defined in any employment or other agreement between the Company and the Participant governing the provision of Service by the
Participant to the Company and its Affiliates, and shall be interpreted in accordance with the procedures set forth therein, or in the absence of such an agreement, Permanent Disability shall mean the Participant’s absence from the full-time
performance of the Participant’s duties with the Company for 180 consecutive days as a result of incapacity due to mental or physical illness, which is determined to be total and permanent by the Board of Directors, in its sole discretion.

  
 11 

	 	(m)	“Permitted Transferee” shall mean “permitted transferee” as defined in the Stockholders Agreement. 

  

	 	(n)	“Plan” shall have the meaning described in Section 1(a) of this Agreement. 

  

	 	(o)	“Principal Investors” shall mean the “principal investors” as defined in the Stockholders Agreement. 

  

	 	(p)	“Registration Rights Agreement” shall mean the Amended and Restated Participation, Registration Rights and Coordination Agreement by and among the Company, Broadcast Media Partners Holdings, Inc.,
Univision Communications Inc. and Certain Persons who will be stockholders of the Company, dated as of November 23, 2010, as may be amended from time to time. 

 

	 	(q)	“Share” shall mean a share of Common Stock, or such other class or kind of shares or other securities resulting from the application of Section 10 of the Plan. 

 

	 	(r)	“Stockholders Agreement” shall mean the Amended and Restated Stockholders Agreement by and among the Company, Broadcast Media Partners Holdings, Inc., Univision Communications Inc., and Certain
Stockholders of Broadcasting Media Partners, Inc., dated as of November 23, 2010, as may be amended from time to time. 

  

	 	(s)	“Transfer” shall mean “transfer” as defined in the Stockholders Agreement. 

  
 12 

 SCHEDULE 1 

FORM OF NOTICE OF EXERCISE 
 Broadcasting Media
Partners, Inc. 
 [Address] 
 Attn: Corporate
Secretary 
 To the Corporate Secretary: 
 I hereby exercise
my stock option granted under the Broadcasting Media Partners, Inc. 2010 Equity Incentive Plan (the “Plan”) and notify you of my desire to purchase the shares that have been offered pursuant to the Plan and related Option Agreement as
described below. 
 In a form permissible under Section 4 of the Option Agreement, I shall pay for the shares, in the amount described below in full
payment for such shares plus all amounts required to be withheld by Broadcasting Media Partners, Inc. (the “Company”) under state, Federal or local law as a result of such exercise or shall provide such documentation as is satisfactory to
the Company demonstrating that I am exempt from any withholding requirement. 
 This notice of exercise is delivered this      day of
             (month)          (year). 
  

									
	 No. Shares to be Acquired
	  	Type of Option	  	Exercise Price	  	Total	 
		  	Nonstatutory	  		  			
	 Estimated Withholding
	  		  		  	 	             	  
		  		  	Amount Paid	  			

  

	
	Very truly yours,
	
	  

	Signature of Participant
	
	Participant’s Name and Mailing Address
	  

	  

	  

	
	Participant’s Social Security Number
	  

 EXERCISE NOTICEEX-10.25

 Exhibit 10.25 

BROADCASTING MEDIA PARTNERS, INC. 

2010 EQUITY INCENTIVE PLAN 

NOTICE OF RESTRICTED STOCK UNIT AWARD 

Reference Number: 2014-A 
  

			
	Participant:	  	Randy Falco
		
	Number of Units:	  	40,000
		
	Type of Award:	  	Restricted Stock Units
		
	Dividend Equivalents:	  	If dividends or other distributions are paid in respect of the Shares underlying the Units, then a dividend equivalent equal to the amount paid in respect of one Share shall accumulate and be paid with respect to each unvested Unit
within fifteen (15) days following the date on which the unvested Unit vests.
		
	Date of Grant:	  	September 18, 2013
		
	Vesting Commencement Date:	  	July 15, 2013
		
	Vesting Schedule:	  	One-fourth (25%) of the Units shall vest on each of the first four anniversaries of the Vesting Commencement Date (each such date a “Vesting Date”), provided Participant’s Service has not terminated prior to
the applicable Vesting Date and the vesting of any Units has not been accelerated as provided below.
		
	Additional Vesting Terms:	  	 The Participant shall vest, upon the Participant’s termination of Service with Univision Communications Inc. and its subsidiaries and
affiliates (“Univision”) without Cause, resignation for Good Reason or by reason of his or her death or Permanent Disability (in each case, a “Protected Termination”), in a portion of the Units determined by (i)
multiplying the number of Units by a fraction (not greater than one), the numerator of which is the sum of the number of full and partial months of Service since the Vesting Commencement Date plus twelve (12) months and the denominator of which is
forty-eight (48) and (ii) subtracting from such amount the number of Units that have already vested prior to such Protected Termination. The vesting requirement with respect to the Units shall be deemed to be fully satisfied upon the
Participant’s termination of Service (i) by the Company without Cause or by Participant with Good Reason, in each case, within the one-hundred eighty (180) day period immediately preceding a Change of Control; provided, the Participant
reasonably demonstrates that such termination is otherwise in connection with or in anticipation of a Change of Control that actually occurs within the one-hundred eighty (180) days following such termination; or (ii) due to a Protected Termination
on or following a Change of Control.
  
 In the event the Participant’s Service with
the Company is terminated for Cause (as defined below) or the Participant resigns at a time when Cause existed (without regard to any applicable cure periods), all unvested

			
		  	Units shall be forfeited and any Shares previously issued in settlement of vested Units shall be forfeited and canceled for no consideration, except to the extent that the intent of the parties to permit such a forfeiture would be
impermissible under California law (only if and to the extent that California Law is applicable). Except as set forth above, the Units will be cancelled upon a termination of Participant’s Service and the Participant shall forfeit any rights
with respect thereto.
		
	Settlement:	  	Units that become vested shall be settled within fifteen (15) days following the applicable Vesting Date by delivery of the Shares underlying the Unit.
		
	Withholding:	  	The Participant may elect to satisfy the minimum applicable tax withholding in connection with the settlement of Units by having Shares otherwise deliverable in such settlement, having a Fair Market Value (as defined in the Plan)
equal to the amount of such withholding, withheld by the Company.
		
	Definitions:	  	“Cause”, “Change of Control”, and “Service” shall have the same meaning as set forth in the Plan. “Permanent Disability” and “Good Reason” shall
have the same meaning as set forth in Section 8 of the Award Agreement.

 [Remainder of Page Intentionally Left Blank] 

 By signing your name below, you accept this Award and acknowledge and agree that this Award is granted under and
governed by the terms and conditions of Broadcasting Media Partners, Inc. 2010 Equity Incentive Plan (the “Plan”) and the Restricted Stock Unit Award Agreement reference number 2014-A attached hereto, both of which are hereby
made a part of this document and, in the event of a conflict between the terms of this Notice and the terms of the Plan, the terms of the Plan shall take precedence. 

 

			
	BROADCASTING MEDIA PARTNERS, INC.
		
	By:	 	 /s/ Jonathan Schwartz 10/16/14

	Name:	 	Jonathan Schwartz
		 	Executive Vice President & General Counsel
		
	By:	 	  

	Name:	 	

  

			
	PARTICIPANT
		
	Signature:	 	 /s/ Randel A. Falco

	Print Name:	 	Randel A. Falco

  
 [SIGNATURE PAGE TO RSU
NOTICE] 

 BROADCASTING MEDIA PARTNERS, INC.

 2010 Equity Incentive Plan 

Restricted Stock Unit Award Agreement 

Reference Number: 2014-A 
  

	SECTION 1.	GRANT OF RESTRICTED STOCK UNIT AWARD. 

 (a) Award. On the terms and conditions set forth in this
Agreement and each Notice of Restricted Stock Unit Award referencing this Agreement (the “Notice”), Broadcasting Media Partners, Inc. (the “Company”) hereby grants the Participant the Restricted Stock Units under the terms set
forth in the Notice (the “Units”) pursuant to and in accordance with the terms of the Broadcasting Media Partners, Inc. 2010 Equity Incentive Plan (the “Plan”). Each Notice, together with this referenced Agreement, shall be a
separate award governed by the terms of this Agreement and the Plan. This Agreement shall apply both to this Award and to the Shares issued in settlement thereof. 

(b) Adjustment of Award. The number of Units subject to this Award is subject to adjustment following the occurrence of certain events affecting the
Company, as provided in Section 10 of the Plan. 
 (c) Equity Incentive Plan and Defined Terms. The Units are granted under and subject
to the terms of the Plan. Capitalized terms are defined in Section 8 of this Agreement and in the Plan. 
  

	SECTION 2.	SECURITIES LAW ISSUES. 

 (a) Securities Not Registered. Neither the Units nor the
underlying Shares have been registered under the Securities Act. To the extent any securities are deemed issued in respect of the Units, they are being issued to the Participant in reliance upon either (i) a registration of such securities
under applicable securities laws or (ii) an exemption from registration under applicable securities laws. 
 (b) Participant Representations.
The Participant hereby confirms that he or she has been informed that any securities issued pursuant to this Award are “restricted securities” under the Securities Act which may not be resold or transferred unless they are first registered
under the Securities Act or unless an exemption from such registration is available. Accordingly, the Participant hereby represents and acknowledges as follows: 
  

	 	(i)	The Units and any Shares issued in settlement thereof are being acquired for investment, and not with a view to sale or distribution thereof; 

 

	 	(ii)	The Participant is prepared to hold the Units and any Shares issued in settlement thereof for an indefinite period and is aware that Rule 144 promulgated under the Securities Act (which exempts certain resales of
securities) is not presently available to exempt the resale of the Units and any Shares issued in settlement thereof from the registration requirements of the Securities Act. 

 

	 	(iii)	The Participant is an “accredited investor” within the meaning of Rule 501(e) of Regulation D of the Securities Act by virtue of the Participant’s position with the Company, income, assets or otherwise.

 (c) Registration. The Company may, but shall not be obligated to, register or qualify the award of the Units or Shares issued in
settlement thereof to the Participant under the Securities Act or any other applicable law, except, solely with respect to Participants who are signatories to or have executed a joinder with respect to the Registration Rights Agreement (with respect
to the Shares issued in settlement of this Award), as required under the Registration Rights Agreement. 

  
 1 

 (d) Market Stand-Off. In connection with any underwritten public offering by the Company of its equity
securities pursuant to an effective registration statement filed under the Securities Act, including the Company’s Initial Public Offering, the Participant hereby agrees, at the request of the Company or the managing underwriters, to be bound
by and/or to execute and deliver, a lock-up agreement with the underwriter(s) of such public offering restricting such Participant’s right to (a) Transfer, directly or indirectly, any Shares acquired under this Agreement or any securities
convertible into or exercisable or exchangeable for such Shares or (b) enter into any swap or other arrangement that transfers to another any of the economic consequences of ownership of Shares acquired under this Agreement, in each case to the
extent that such restrictions are agreed to by the Majority Principal Investors (as defined in the Stockholders Agreement) (or a majority of the shares of Common Stock if there are no Principal Investors remaining) with the underwriter(s) of such
public offering (the “Principal Lock-Up Agreement”); provided, however, that the Participant shall not be required by this Section 2(d) to be bound by a lock-up agreement covering a period of greater than 90 days
(180 days in the case of the Initial Public Offering) following the effectiveness of the related registration statement. Notwithstanding the foregoing, such lock-up agreement shall not apply to: (a) Transfers to Permitted Transferees of the
Participant permitted in accordance with the terms of this Agreement, (b) conversions of Shares into other classes of Shares or securities without change of Participant and (c) during the period preceding the execution of the underwriting
agreement, Transfers to a charitable organization, described by Section 501(c)(3) of the Code, permitted in accordance with the terms of the Stockholders Agreement. 

(e) Additional Restrictions. The Units and any Shares issued in settlement thereof are subject to such additional restrictions as are set forth in the
Stockholders Agreement and any employment or consulting agreement between the Participant and the Company or any Subsidiary or Affiliate, as well as such other restrictions upon the sale, pledge or other transfer of such Shares (including the
placement of appropriate legends on stock certificates or the imposition of stop-transfer instructions), that in the judgment of the Company, are necessary or desirable in order to achieve compliance with the Securities Act or the securities laws of
any state or any other law. 
 (f) Participant Undertaking. The Participant agrees to take whatever additional actions and execute whatever
additional documents that the Company may deem necessary or advisable to carry out or effect one or more of the obligations or restrictions imposed on either the Participant, Units or the Shares pursuant to the provisions of this Agreement or to
comply with applicable laws. 
  

	SECTION 3.	TRANSFER 

 (a) General Rule. The Units may not be transferred to any person other than to the
Company or to a Permitted Transferee in accordance with the terms of the Stockholders Agreement (whether or not the Participant has executed a joinder to the Stockholders Agreement) or any other applicable agreement entered into by the Company and
the Participant. Notwithstanding the above, this Section 3(a) shall cease to apply as to any Shares issued upon settlement of the Units upon an Initial Public Offering, subject to the Stockholders Agreement or any other applicable agreement
entered into by the Company and the Participant. 
 (b) Transferee Obligations. If the Units are transferred to a Permitted Transferee, such
Permitted Transferee must, as a condition precedent to the validity of such transfer, acknowledge in writing to the Company that such person is bound by the provisions of this Agreement to the same extent as if such Units were retained by the
Participant. 

  
 2 

	SECTION 4.	SETTLEMENT OF UNITS. 

 (a) Time of Settlement. Subject to the terms of the Plan, the Notice and
this Agreement, the Units shall be settled at such time and in such form as is set forth in the Notice; provided, however, that Units shall be settled in all events no later than March 15 of the year following the year in which
such Units vest. As of the Date of Grant set forth in the Notice, the Participant shall enter into a joinder to the Stockholders Agreement (if not already a party to the Stockholders Agreement with respect to such Shares) substantially in the form
attached hereto as Exhibit A. to become effective upon the settlement of the Units by the delivery of Shares. 
 (b) Shareholder Rights. The
Participant (or any successor in interest) shall not have any of the rights of a shareholder (including, without limitation, voting, dividend and liquidation rights) with respect to the Units. 

(c) Withholding Requirements. Unless the Participant elects to satisfy the minimum applicable income and employment tax withholdings in connection with
the settlement of Units by having Shares otherwise deliverable in such settlement, having a Fair Market Value equal to the amount of such withholdings, withheld by the Company (a “Withholding Tax Election”), the Participant shall
pay the amount of such withholdings to the Company in cash within ten (10) days after the Units vest, provided that, if the Participant does not make such payment to the Company within such ten (10) day period, the Participant shall be
deemed to have made a Withholding Tax Election. 
 (d) Legend. The Shares issued in settlement of the Units shall, unless otherwise determined by the
Company, bear the following legend: 
 “THE VOTING OF THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE, AND THE SALE, ENCUMBRANCE
OR OTHER DISPOSITION THEREOF, ARE SUBJECT TO THE PROVISIONS OF THIS RESTRICTED STOCK UNIT AWARD AGREEMENT. SUCH AGREEMENT INCLUDES RESTRICTIONS AND LIMITATIONS ON THE TRANSFER OF THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE.” 

(e) No Fractional Shares. No scrip or fractional certificates will be issued with respect to any Shares issued in settlement of the Units. If a
Participant would otherwise be entitled to receive fractional Shares in respect of the Units, the Company shall round the number of Shares to be received to the closest whole Share; provided that in no event shall a Participant receive more than the
total number of Shares subject to the Award. If the number of Shares received by a Participant has been rounded down, the Company shall record the amount of such fractional Shares in a book entry account and shall issue one or more whole Shares in
respect of such amount on the last settlement date applicable to such Award; provided, however, if a Participant’s account is credited with fractional Shares on the date immediately prior to the expiration or termination of the Award, the
Company shall pay the Participant cash in lieu of such fractional Shares. 
  

	SECTION 5.	RESTRICTIONS ON SHARES. 

 (a) Drag-Along Rights. Shares issued in settlement of the Units shall be
subject to the Drag-Along Rights as set forth in Sections 4.2 and 4.3 of the Stockholders Agreement (whether or not the Participant is a signatory thereof), the provisions of such Sections 4.2 and 4.3 of the Stockholders Agreement to apply
mutatis mutandis to this Agreement. The Participant shall be deemed to have appointed each 

  
 3 

 
member of the Principal Investors, with full power of substitution, as the Participant’s true and lawful representative and attorney-in-fact, in such Participant’s name, place and
stead, to execute and deliver any and all agreements that the members of the Principal Investors reasonably believe arc consistent with the purposes of Sections 4.2 and 4.3 of the Stockholders Agreement. The foregoing power of attorney is coupled
with an interest sufficient in law to support an irrevocable power and shall continue in full force and effect notwithstanding the subsequent death, incapacity, bankruptcy or dissolution of any Participant 

(b) Tag-Along Rights. Shares issued in settlement of the Units shall be subject to the Tag-Along Rights as, and to the extent, set forth in
Section 4.1 of the Stockholders Agreement (whether or not the Participant is a signatory thereof), the provisions of such Section 4.1 of the Stockholders Agreement to apply mutatis mutandis to this Agreement. 

(c) Voting Rights. The Participant hereby appoints each Principal Investor as its proxy to vole the Shares issued in settlement of the Units, whether
at a meeting or by written consent in accordance with the provisions of Section 2 of the Stockholders Agreement (whether or not the conditional joinder to the Stockholders Agreement executed by the Participant becomes effective pursuant to
Section 4 hereof). The proxy granted hereby is irrevocable and coupled with an interest sufficient in law to support an irrevocable power. Solely with respect to Participants whose joinder to the Stockholders Agreement has become effective,
this proxy shall not be used to affect any amendment pursuant to the Stockholders Agreement and Registration Rights Agreement, which, by its terms, Discriminates (as defined in the Registration Rights Agreement) against the holders of Management
Shares (as such term is defined in the Stockholders Agreement); provided that it is understood and agreed that, for the purposes of interpreting and enforcing this proxy, amendments that affect all Stockholders (as such term is defined in the
Stockholders Agreement) will not be deemed to Discriminate against the holders of Management Shares simply because holders of such shares (i) own or hold more or less Shares than any other Stockholders, (ii) invested more or less money in the
Company or its direct or indirect subsidiaries than any other Stockholders or (iii) have greater or lesser voting rights or powers than any other Stockholders. Notwithstanding the above, this paragraph 5(d) shall cease to apply as to any such
Shares upon the termination of the Stockholders Agreement as to such Shares, subject to any other applicable agreement entered into by the Company and the Participant. 

(d) Forfeiture of Shares upon Termination for Cause. The Shares issued in settlement of the Units shall be forfeited without payment therefor in the
event the Participant’s Service is terminated for Cause or the Participant resigns at a time when Cause existed (without regard to any applicable cure periods), except to the extent that the intent of the parties to permit such a forfeiture
would be impermissible under California law (only if and to the extent that California Law is applicable). 
 (e) Additional Shares or Substituted
Securities. In the event of the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or additional securities or other property (including money paid other than as an ordinary cash dividend) which are by reason of
such transaction distributed with respect to any of the Shares subject to this Section 5 or into which such Shares thereby become convertible shall immediately be subject to this Section 5. 

  
 4 

	SECTION 6.	CALL RIGHT. 

 (a) Call Right. If the Participant’s Service with the Company ceases for any
reason, the Company shall have the right (hut not an obligation) to call any Shares issued in settlement of the Units on such termination (or at any time thereafter). 

(b) Exercise Notice. In the event the Company wishes to exercise its Call Right, the Company shall notify the Participant (or any Permitted Transferee
to whom the Shares have been transferred) by written notice that the Company has elected to exercise such right, and the number of Shares with respect to which the right is being exercised. 

(c) Execution of Call. The closing of any purchase and sale pursuant to the Call Right shall take place at the principal office of the Company as soon
as reasonably practicable and in no event later than thirty (30) days after the dale of the Company’s exercise notice described in Section 6(b) or at such other time and location as the parties to such purchase may mutually determine.

 (d) Purchase Price. If the Company exercises the Call Right, the Participant shall sell, and shall cause any Permitted Transferee to whom Shares
have been transferred to sell (and such Permitted Transferee shall sell), to the Company all of the Shares subject to the Call Right and the Company shall purchase each such Share for its Fair Market Value on the date of the issuance of the
Company’s exercise notice pursuant to Section 6(b). The Company shall make commercially reasonable efforts, as determined by the Board of Directors in good faith, to pay all or any portion of the repurchase price in cash. However, if the
Company cannot make all or any portion of the payment in cash it shall issue a promissory note with a principal amount equal to the amount of the repurchase price which was not paid in cash (e.g., the full amount or a portion thereof, as
applicable), on which interest will accrue on the principal thereof at a rate equal to the prime rate and the principal, together with the interest thereon, will become due and payable, to the extent commercially reasonable (as determined by the
Board of Directors), in three equal annual installments, payable on the First, second and third anniversaries of the date of issuance thereof. 
 (e)
Change of Control. Notwithstanding the foregoing, if (i) the Company enters into a definitive agreement with respect to a Change of Control of the Company within three (3) months following the Company’s delivery to the
Participant of a notice of exercise of the Call Right in accordance with Section 6(b), (ii) within twelve (12) months following the initial signing of such definitive agreement, a Change of Control is consummated pursuant to the terms
of such definitive agreement (including such agreement as may be amended within such period), and (iii) the net cash proceeds realized per Share with respect to such Change of Control exceeds the per Share purchase price sold by the Participant
in connection with the Call Right, then the Participant shall be entitled to an additional payment as part of the sales price as soon as reasonably practicable following such Change of Control, equal to the excess of the per Share net cash proceeds
realized over the per Share purchase price of the Call Right, multiplied by the number of Shares of Common Stock previously sold by Participant in connection with the Call Right. This Section 6(e) shall not apply if the Company exercises the
Call Right following the Participant’s termination for Cause or the Participant’s resignation after an inquiry by the Company as to the existence of Cause has been initiated and Cause existed as of the date of such resignation. 

(f) Lapse of Rights. 
  

	 	(i)	Except as provided in subsection (ii) below, the Call Right shall lapse upon the earlier of (A) the eighteen (18) month anniversary of the Participant’s termination of Service, and (B) an
Initial Public Offering. 

  

	 	(ii)	The Company’s rights to purchase Shares upon the Participant’s (A) termination for Cause (or the Participant’s resignation after an inquiry as to whether Cause exists has been initiated and Cause
existed as of the date of such resignation) or (B) material breach of the restrictive covenants set forth in Sections 8.1 and 8.2 of the amended and restated employment and non-competition agreement dated January 14, 2011, by and between
the Company and the Participant, as amended and may be amended from time to time or such provisions as may govern similar restrictions in any subsequent employment agreement between the Participant and the Company or any subsidiary or affiliated
thereof, shall lapse only upon an Initial Public Offering. 

  
 5 

 (g) Additional Shares or Substituted Securities. In the event of the declaration of a stock dividend, the
declaration of an extraordinary dividend payable in a form other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without
receipt of consideration, any new, substituted or additional securities or other property (including money paid other than as an ordinary cash dividend) which are by reason of such transaction distributed with respect to any of the Shares subject to
the Call Right or into which such Shares thereby become convertible shall immediately be subject to this Section 6. 
 (h) Termination of Rights as
Shareholder. If the Company makes available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Shares to be purchased in accordance with this Section 6, then after such time the person
from whom such Shares are to be purchased shall no longer have any rights as a holder of such Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such Shares shall be deemed to have been
purchased in accordance with the applicable provisions hereof, whether or not the certificate(s) therefor have been delivered as required by this Agreement. 
  

	SECTION 7.	MISCELLANEOUS PROVISIONS. 

 (a) No Retention Rights. Nothing in this Agreement or in the Plan
shall confer upon the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Subsidiary or Affiliate employing or retaining the
Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without Cause. 

(b) Notification. Any notice required by the terms of this Agreement shall be given in writing and shall be deemed effective upon personal delivery or
upon deposit with the United States Postal Service, by registered or certified mail, or a nationally recognized overnight express mail service with postage and fees prepaid. Notice shall be addressed to the Company at its principal executive office
to the attention of the Executive Vice President and Chief Human Resources Officer of the Company with a copy to the Executive Vice President, General Counsel and Secretary of the Company, and to the Participant at the address that he or she most
recently provided to the Company. 
 (c) Entire Agreement. This Agreement, the Notice, the Plan, the Stockholders Agreement (or such other
stockholders agreement entered into by the Company and the Participant), any employment or consulting agreement between the Participant and the Company, and, for the avoidance of doubt, constitute the entire contract between the parties hereto with
regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) which relate to the subject matter hereof. 

  
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 (d) Waiver. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any
other or subsequent breach or condition whether of like or different nature. 
 (e) Successors and Assigns. The provisions of this Agreement shall
inure to the benefit of. and be binding upon, the Company and its successors and assigns and upon the Participant, the Participant’s assigns and the legal representatives, heirs and legatees of the Participant’s estate, whether or not any
such person shall have become a party to this Agreement and have agreed in writing to be joined herein and be bound by the terms hereof. 
 (f) Choice of
Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, as such laws are applied to contracts entered into and performed in such State. 

(g) Compliance with Section 409A of the Code. The Company intends that the Units be structured in compliance with, or to satisfy an exemption
from, Section 409A of the Internal Revenue Code of 1986, as amended, and all regulations, guidance, compliance programs and other interpretative authority thereunder (“Section 409A”), such that there are no adverse tax
consequences, interest, or penalties as a result of the payments. Notwithstanding the Company’s intention, in the event the Units are subject to Section 409A, the Committee (as defined in the Plan) may, in its sole discretion, take the
actions described in Section 12 of the Plan. Notwithstanding any contrary provision in the Plan or Award Agreement, any payment(s) of nonqualified deferred compensation (within the meaning of Section 409A) that are otherwise required to be
made under the Agreement to a “specified employee” (as defined under Section 409A) as a result of his or her separation from service (other than a payment that is not subject to Section 409A) shall be delayed for the first six
(6) months following such separation from service (or, if earlier, the date of death of the specified employee) and shall instead be paid on the date that immediately follows the end of such six-month period or as soon as administratively
practicable thereafter. A termination of Service shall not be deemed to have occurred for purposes of any provision of the Agreement providing for the payment of any amounts or benefits that are considered nonqualified deferred compensation under
Section 409A upon or following a termination of Service, unless such termination is also a “separation from service” within the meaning of Section 409A and the payment thereof prior to a “separation from service” would
violate Section 409A. For purposes of any such provision of the Agreement relating to any such payments or benefits, references to a “termination,” “termination of Service” or like terms shall mean “separation from
service.” 
  

	SECTION 8.	DEFINITIONS. 

  

	(a)	“Agreement” shall mean this Restricted Stock Unit Award Agreement. 

 (b) “Call
Right” shall mean the Call Right described in Section 6 of this Agreement. 
 (c) “Change of Control” shall have the meaning
ascribed to such term in the Plan. 
 (d) “Common Stock” shall mean the common stock, par value $0.001 per share, of the Company. 

(e) “Company” shall have the meaning described in Section 1(a) of this Agreement. 

(f) “Company Securities” shall mean Common Stock or such other class or kind of shares or other securities resulting from an event described
in Section 10 of the Plan. 
 (g) “Fair Market Value” For purposes of Section 6 of this Agreement, and except as otherwise
modified in the Notice, shall mean with respect to any Share (i) prior to an Initial Public Offering, the fair 

  
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value of such Share based on an independent, third party valuation obtained by the Company from a nationally recognized appraiser and without any liquidity or minority discounts and (ii) on
and after an initial Public Offering, Fair Market Value shall mean the average closing price of a Share over a period of 90 calendar days (45 days before and 45 days after the date of such valuation or, if Shares are not publicly traded during any
portion of such period, such other 90-day period that most closely resembles that period) (subject to appropriate equitable adjustments if Company Securities, other than the Shares remain outstanding at the time of determination). Prior to an
Initial Public Offering, when determining the Fair Market Value, the Participant may obtain a second independent, third party valuation from a nationally recognized appraiser. In the event the Participant’s valuation is within ten percent
(10%) of the Company’s valuation, the average of the two valuations shall be used. In the event the Participant’s valuation is greater than one hundred ten percent (110%) of the Company’s valuation, the Company and the
Participant shall submit to binding baseball-type arbitration before a single arbitrator, conducted in accordance with the commercial arbitration rules of the AAA. The Company shall pay the reasonable costs of the arbitrator. If the arbitrator
selects the Participant’s valuation, the Company shall reimburse the Participant for the reasonable cost of the Participant’s valuation and the Participant’s reasonable legal fees in conducting the arbitration. 

(h) “Good Reason” shall mean either (i) a material reduction in base salary or (ii) a relocation of the
Participant’s primary office at least fifty (50) miles farther from both the Participant’s then primary office location and the Participant’s then primary residence, provided the Participant gives notice to the Company of a Good
Reason event within thirty (30) days of the occurrence of the event, the Company does not cure such event within thirty (30) days of receipt of such notice and the Participant terminates Service within ten (10) days thereafter;
provided, however, that if a Participant is a party to any employment or other agreement governing the provision of services to the Company or any Subsidiary or Affiliate, and such agreement defines “Good Reason” (or term of like import),
“Good Reason” shall have the meaning given to such term (or term of like import) in such agreement 
 (i) “Initial Public
Offering” shall mean (i) “initial public offering” as defined in the Stockholders Agreement and (ii) Company Securities otherwise becoming traded on a national securities exchange. 

(j) “Notice” shall have the meaning described in Section 1(a) of this Agreement. 

(k) “Participant” shall mean the person named in the Notice. 

(l) “Permanent Disability” shall mean “permanent disability” as defined in any employment or other agreement between the Company
and the Participant governing the provision of Service by the Participant to the Company and its Affiliates as of the date hereof, and shall be interpreted in accordance with the procedures set forth therein, or in the absence of such an agreement,
Permanent Disability shall mean the Participant’s absence from the full-time performance of the Participant’s duties with the Company for 180 consecutive calendar days as a result of incapacity due to mental or physical illness, which is
determined to be total and permanent by the Board of Directors, in its sole discretion. 
 (m) “Permitted Transferee” shall
mean “permitted transferee” as defined in the Stockholders Agreement. 
 (n) “Plan” shall have the meaning
described in Section 1(a) of this Agreement. 
 (o) “Principal Investors” shall mean the “principal investors”
as defined in the Stockholders Agreement. 

  
 8 

 (p) “Registration Rights Agreement” shall mean the Amended and Restated Participation,
Registration Rights and Coordination Agreement by and among the Company, Broadcast Media Partners Holdings, Inc., Univision Communications Inc. and Certain Persons who will be stockholders of the Company, dated as of December 20, 2010, as may
be amended from time to time. 
 (q) “Service” shall have the meaning ascribed to such term in the Plan. 

(r) “Share” shall mean a share of Common Stock, or such other class or kind of shares or other securities resulting from the application of
Section 10 of the Plan. 
 (s) “Stockholders Agreement” shall mean the Amended and Restated Stockholders Agreement by and among the
Company, Broadcast Media Partners Holdings, Inc., Univision Communications Inc., and Certain Stockholders of Broadcasting Media Partners, Inc., dated as of December 20, 2010, as amended from time to time. 

(t) “Transfer” shall mean “transfer” as defined in the Stockholders Agreement. 

(u) “Units” shall have the meaning described in Section 1(a) of this Agreement. 

(v) “Withholding Tax Election” shall have the meaning described in Section 4(c) of this Agreement. 

  
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