Document:

EX-10.11

 Exhibit 10.11 

EXECUTION COPY 
 Wally Kelly 

c/o CBS Outdoor Americas Inc. 
 405 Lexington Avenue 

New York. NY 10174 
  

			
	Dear Wally:	  	as of August 21, 2013

 CBS Outdoor Americas Inc. (the “Company”), an indirect wholly-owned subsidiary of CBS
Corporation (“CBS”), having an address at 405 Lexington Avenue, New York, New York 10174, operating in the outdoor business in the United States, Canada and Latin America (“Outdoor”), agrees to employ
you and you agree to continue to accept such employment upon the following terms and conditions: 
 1. Term. The term of your
employment under this Agreement shall commence on August 21, 2013 and. unless terminated by the Company or you pursuant to paragraph 8 or because of your death or Disability (as defined below), shall continue through and until
September 30. 2015. The period from August 21, 2013 through September 30, 2015 is referred to as the “Term” notwithstanding any earlier termination of your employment for any reason. 

2. Duties. You will be President and Chief Executive Officer, CBS Outdoor Americas and you agree to perform all duties reasonable and
consistent with that office and related to the Outdoor business, as the President and Chief Executive Officer of CBS (the “CBS CEO”) (or other individual designated by the CBS CEO) may assign to you from time to time, until
such time as another individual is appointed to be Chief Executive Officer of the Company (the “Company CEO”). Effective at such time (the “Transition Time”), your new title will be President and Chief
Operating Officer of the Company and you agree to perform all duties reasonable and consistent with that office and related to the Outdoor business, as the Company CEO (or other individual designated by the Company CEO) may assign to you from time
to time. 
 During the Term, you agree to devote your entire business time, attention and energies to the business of Outdoor.
Notwithstanding the foregoing, you will be permitted to engage in charitable, civic, or other non-business activities and to serve as a member of the board of directors of not-for-profit organizations, including serving as chairman of the board of
directors of the Outdoor Advertising Association of America, Inc., so long as such activities do not materially interfere or conflict with the performance of your duties and responsibilities hereunder. 

 Wally Kelly 

as of August 21, 2013 
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 3. Compensation. 

(a) Salary. For all the services rendered by you in any capacity under this Agreement, the Company agrees to pay you base salary
(“Salary”) at the rate of Eight Hundred Thousand Dollars ($800,000) per annum, less applicable deductions and withholding taxes, in accordance with the Company’s payroll practices as they may exist from time to time.
During the Term of this Agreement, your Salary may be increased, but not decreased, and such increase, if any, shall be made at a time, and in an amount, that the Company or CBS shall determine in its sole discretion. 

(b) Bonus Compensation. You also shall be eligible to receive annual bonus compensation (“Bonus”) during your
employment with the Company under this Agreement, determined and payable as follows: 
  

	 	(i)	Your Bonus for each calendar year during your employment with the Company under this Agreement will be determined in accordance with the guidelines of the Company’s or CBS’s short-term incentive program, as
applicable (the “STIP”). as such guidelines may be amended from time to time without notice in the sole discretion of the Company. 

  

	 	(ii)	Your target bonus (“Target Bonus”) for each of those calendar years shall be 75% of your Salary as in effect on November 1st of such year or the last day of the Term, if earlier. Your Bonus
for any of those calendar years may be subject to proration for the portion of such calendar year that you were employed by the Company. 

  

	 	(iii)	Your Bonus for any calendar year shall be payable, less applicable deductions and withholding taxes, by February 28th of the following year. 

(c) Long-Term Incentive Compensation. You shall be eligible to receive annual grants of long-term incentive compensation under the
Company or CBS long-term management incentive plan, as applicable, as may be amended from time to time without notice in the sole discretion of the Company or CBS, as applicable (the “LTMIP”). You shall have a
“Target” long-term incentive value equal to One Million Dollars ($1,000,000). The precise amount, form and timing of any such long-term incentive award, if any, shall be determined in the sole discretion of the Compensation Committee of
the Company or of the CBS Board of Directors, as applicable (the “Committee”). 

 Wally Kelly 

as of August 21, 2013 
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 4. Benefits. You shall participate in such vacation, medical, dental, life insurance,
long-term disability insurance, retirement, long-term incentive and other plans applicable generally to other senior executives of the Company in which you would be entitled to participate under the terms of the plan. This provision, however, shall
not be construed to either require the Company or CBS to establish any welfare, compensation or long-term incentive plans, or to prevent the modification or termination of any plan once established, and no action or inaction with respect to any plan
shall affect this Agreement. 
 5. Business Expenses. During your employment under this Agreement, the Company shall reimburse you
for such reasonable travel and other expenses incurred in the performance of your duties as are customarily reimbursed to the Company executives at comparable levels. Such travel and other expenses shall be reimbursed by the Company as soon as
practicable in accordance with its established guidelines, as may be amended from time to time, but in no event later than December 31st of the calendar year following the calendar year in
which you incur the related expenses. 
 6. Non-Competition, Confidential Information, Etc. 

(a) Non-Competition. You agree that your employment with the Company is on an exclusive basis and that, while you are employed by the
Company or any of its subsidiaries, you will not engage in any other business activity which is in conflict with your duties and obligations (including your commitment of time) under this Agreement. You further agree that, during the Non-Compete
Period (as defined below), you shall not directly or indirectly engage in or participate in (or negotiate or sign any agreement to engage in or participate in), whether as an owner, partner, stockholder, officer, employee, director, agent of or
consultant for, any business which at such time is competitive with any business of the Company, CBS or any of their respective subsidiaries, without the written consent of the Company and/or CBS, as applicable; provided, however, that
this provision shall not prevent you from investing as less than a one (1%) percent stockholder in the securities of any company listed on a national securities exchange or quoted on an automated quotation system. The Non-Compete Period shall
cover the period during your employment with the Company and shall continue following the termination of your employment for any reason, including the expiration of the Term, for the greater of (i) six (6) months or (ii) for so long
as any payments are to be made to you pursuant to paragraph 8(d) of this Agreement, unless you request and CBS Outdoor and/or CBS, as applicable, accepts a written request pursuant to paragraph 6(j) of this Agreement, if any. 

(b) Confidential Information. You agree that, during the Term and at any time thereafter, (i) you shall not use for any purpose or
disclose to any third party, other than the duly authorized business of the Company, any information relating to the Company, CBS or any of their respective affiliated companies which is non-public, 

 Wally Kelly 

as of August 21, 2013 
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confidential or proprietary to the Company, CBS or any of their respective affiliated companies (“Confidential Information”), including any trade secret or any written
(including in any electronic form) or oral communication incorporating Confidential Information in any way (except as may be required by law or in the performance of your duties under this Agreement consistent with the Company’s policies); and
(ii) you will comply with any and all confidentiality obligations of the Company or CBS to a third party, whether arising under a written agreement or otherwise. Information shall not be deemed Confidential Information which (x) is
or becomes generally available to the public other than as a result of a disclosure by you or at your direction or by any other person who directly or indirectly receives such information from you. or (y) is or becomes available to you
on a non-confidential basis from a source which is entitled to disclose it to you. For purposes of this paragraph 6(b), the term “third party” shall be defined to mean any person other than the Company, CBS or any of their respective
affiliated companies (and any of their respective directors and senior officers). 
 (c) No Solicitation. Etc. You agree that, while
employed by the Company and for the greater of: (i) twelve (12) months thereafter or (ii) for so long as the Company is making any payments to you pursuant to paragraph 8(d), you shall not, directly or indirectly: 

 

	 	(A)	employ or solicit the employment of any person who is then or has been within twelve (12) months prior thereto, an employee of the Company, CBS or any of their respective affiliated companies; or 

 

	 	(B)	do any act or thing to cause, bring about, or induce any interference with, disturbance to, or interruption of any of the then-existing relationships (whether or not such relationships have been reduced to formal
contracts) of the Company, CBS or any of their respective affiliated companies with any customer, employee, consultant or supplier. 

(d) Outdoor Ownership. The results and proceeds of your services under this Agreement, including, without limitation, any works of
authorship resulting from your services during your employment with the Company, CBS, and/or any of their respective affiliated companies and any works in progress resulting from such services, shall be works-made-for-hire and they, shall be deemed
the sole owner throughout the universe of any and all rights of every nature in such works, whether such rights are now known or hereafter defined or discovered, with the right to use the works in perpetuity in any manner they determine in their
sole discretion without any further payment to you. If, for any reason, any of such results and proceeds are not legally deemed a work-made-for-hire and/or there are any rights in such results and proceeds which do not accrue to the Company, CBS,
and/or any of their affiliates under the preceding sentence, then you 

 Wally Kelly 

as of August 21, 2013 
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hereby irrevocably assign and agree to assign any and all of your right, title and interest thereto, including, without limitation, any and all copyrights, patents, trade secrets, trademarks
and/or other rights of every nature in the work, whether now known or hereafter defined or discovered, and they shall have the right to use the work in perpetuity throughout the universe in any manner they determine in their sole discretion without
any further payment to you. You shall, as may be requested by the Company from time to time, do any and all things which the Company may deem useful or desirable to establish or document the Company’s rights in any such results and proceeds,
including, without limitation, the execution of appropriate copyright, trademark and/or patent applications, assignments or similar documents and. if you are unavailable or unwilling to execute such documents, you hereby irrevocably designate the
CBS CEO prior to the Transition Time or the Company CEO following the Transition Time or their respective designees(s), as applicable, as your attorney-in-fact with the power to execute such documents on your behalf. To the extent you have any
rights in the results and proceeds of your services under this Agreement that cannot be assigned as described above, you unconditionally and irrevocably waive the enforcement of such rights. This paragraph 6(d) is subject to, and does not limit,
restrict, or constitute a waiver by the Company, CBS and/or any of their affiliates of any ownership rights to which they may be entitled by operation of law by virtue of being your employer. 

(e) Litigation. 
  

	 	(i)	You agree that during the Term, and for the greater of: (i) six (6) months thereafter; or (ii) during the pendency of any litigation or other proceeding, (x) you shall not communicate with
anyone (other than your own attorneys and tax advisors), except to the extent necessary in the performance of your duties under this Agreement, with respect to the facts or subject matter of any pending or potential litigation, or regulatory or
administrative proceeding involving the Company, CBS, or any of their respective affiliated companies, other than any litigation or other proceeding in which you are a party-in-opposition, without giving prior notice to the Company. CBS or their
counsel; and (y) in the event that any other party attempts to obtain information or documents from you with respect to such matters, either through formal legal process such as a subpoena or by informal means such as interviews, you
shall promptly notify the Company’s or CBS’s counsel before providing any information or documents. 

  

	 	(ii)	 You agree to cooperate with the Company, CBS and their attorneys, both during and after the termination of your employment, in connection with any
litigation or other proceeding 

 Wally Kelly 

as of August 21, 2013 
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arising out of or relating to matters in which you were involved prior to the termination of your employment. Your cooperation shall include, without limitation, providing assistance to the
Company or CBS’s counsel, experts or consultants, and providing truthful testimony in pretrial and trial or hearing proceedings. In the event that your cooperation is requested after the termination of your employment, the Company will
(x) seek to minimize interruptions to your schedule to the extent consistent with its interests in the matter; and (y) reimburse you for all reasonable and appropriate out-of-pocket expenses actually incurred by you in
connection with such cooperation upon reasonable substantiation of such expenses. 

  

	 	(iii)	You agree that during the Term and at any time thereafter, to the fullest extent permitted by law, you will not testify voluntarily in any lawsuit or other proceeding which directly or indirectly involves the Company,
CBS. or any of their respective affiliated companies, or which may create the impression that such testimony is endorsed or approved by the Company. CBS. or any of their respective affiliated companies, without advance notice (including the general
nature of the testimony) to and. if such testimony is without subpoena or other compulsory legal process the approval of. the General Counsel (or equivalent position thereof) of each of the Company and CBS. 

(f) No Right to Give Interviews or Write Books, Articles, Etc. During the Term, except as authorized by the Company, you shall not
(i) give any interviews or speeches, or (ii) prepare or assist any person or entity in the preparation of any books, articles, television or motion picture productions or other creations, in either case, concerning the Company, CBS or any
of their respective affiliated companies or any of their respective officers, directors, agents, employees, suppliers or customers. 
 (g)
Return of Property. All documents, data, recordings, or other property, whether tangible or intangible, including all information stored in electronic form, obtained or prepared by or for you and utilized by you in the course of your
employment with the Company shall remain the exclusive property of the Company. In the event of the termination of your employment for any reason, the Company reserves the right, to the extent permitted by law and in addition to any other remedy the
Company may have, to deduct from any monies otherwise payable to you the following: (i) all amounts you may owe to the Company, CBS, or any of their respective affiliated companies at the time of or subsequent to the termination of your employment
with the Company; and (ii) the value of the Company property which you retain in your 

 Wally Kelly 

as of August 21, 2013 
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possession after the termination of your employment with the Company. In the event that the law of any state or other jurisdiction requires the consent of an employee for such deductions, this
Agreement shall serve as such consent. 
 (h) Non-Disparagement. You agree that, during the Term and for one year thereafter, you
shall not. in any communications with the press or other media or any customer, client or supplier of the Company, CBS, or any of their respective affiliated companies, criticize, ridicule or make any statement which disparages or is derogatory of
the Company, CBS, or any of their respective affiliated companies or any of their respective directors or senior officers. 
 (i)
Injunctive Relief. The Company has entered into this Agreement in order to obtain the benefit of your unique skills, talent, and experience. You acknowledge and agree that any violation of paragraphs 6(a) through (h) of this Agreement
will result in irreparable damage to the Company, and. accordingly, the Company may obtain injunctive and other equitable relief for any breach or threatened breach of such paragraphs, in addition to any other remedies available to the Company. 

(j) Survival; Modification of Terms. Your obligations under paragraphs 6(a) through (i) shall remain in full force and effect for
the entire period provided therein notwithstanding the termination of your employment under this Agreement for any reason or the expiration of the Term; provided, however, that your obligations under paragraph 6(a) (but not under any
other provision of this Agreement) shall cease if: (x) the Company terminates your employment without Cause or you resign with Good Reason and (y) you provide the Company a written notice indicating your desire to waive your
right to receive, or to continue to receive, termination payments and benefits under paragraph 8(d)(i)(A) through (D), and (z) the Company notifies you that it has, in its sole discretion, accepted your request. You and the Company agree
that the restrictions and remedies contained in paragraphs 6(a) through (i) are reasonable and that it is your intention and the intention of the Company that such restrictions and remedies shall be enforceable to the fullest extent permissible
by law. If a court of competent jurisdiction shall find that any such restriction or remedy is unenforceable but would be enforceable if some part were deleted or the period or area of application reduced, then such restriction or remedy shall apply
with the modification necessary to make it enforceable. You acknowledge that Outdoor conducts its business operations around the world and has invested considerable time and effort to develop the international brand and goodwill associated with the
“Outdoor” name. To that end, you further acknowledge that the obligations set forth in this paragraph 6 are by necessity international in scope and necessary to protect the international operations and goodwill of the Company, CBS and its
affiliated companies. 
 7. Disability. In the event that you become “disabled” within the meaning of such term under the
Company’s Short-Term Disability (“STD”) program and its 

 Wally Kelly 

as of August 21, 2013 
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Long-Term Disability (“LTD”) program while employed during the Term (such condition is referred to as a “Disability”), you will receive
compensation under the STD program in accordance with its terms. Thereafter, you will be eligible to receive benefits under the LTD program in accordance with its terms. If you have not returned to work by December 31st of a calendar year
during the Term, you will receive bonus compensation for the calendar year(s) during the Term in which you receive compensation under the STD program, determined as follows: 
  

	 	(i)	for the portion of the calendar year from January 1st until the date on which you first receive compensation under the STD program, bonus compensation shall be determined in accordance with the STIP (i.e.,
based upon Outdoor’s achievement of its goals and Outdoor’s good faith estimate of your achievement of your personal goals) and prorated for such period: and 

 

	 	(ii)	for any subsequent portion of that calendar year and any portion of the following calendar year in which you receive compensation under the STD program, bonus compensation shall be in an amount equal to your Target
Bonus and prorated for such period(s). 

 Subject to paragraph 19 hereof, bonus compensation under this paragraph 7 shall be paid, less
applicable deductions and withholding taxes, by February 28th of the year(s) following the year as to which such bonus compensation is payable. You will not receive bonus compensation for any portion of the calendar year(s) during the Term
while you receive benefits under the LTD program. For the periods that you receive compensation and benefits under the STD and LTD programs, such compensation and benefits and the bonus compensation provided under this paragraph 7 are in lieu of
Salary and Bonus under paragraphs 3(a) and (b). 
 8. Termination. 

(a) Termination for Cause. The Company may, at its option, terminate your employment under this Agreement forthwith for Cause and the
Company thereafter shall have no further obligations under this Agreement, including, without limitation, any obligation to pay Salary or Bonus or provide benefits. “Cause” shall mean: (i) dishonesty; (ii) embezzlement, fraud
or other conduct which would constitute a felony or a misdemeanor involving fraud or perjury; (iii) willful unauthorized disclosure of Confidential Information; (iv) your failure to obey a material lawful directive that is appropriate to your
position from an executive(s) in your reporting line; (v) your failure to comply with the written policies of the Company or CBS, including the CBS Business Conduct Statement or successor conduct statement as they apply from time to time: (vi) your
material breach of this Agreement (including any representations 

 Wally Kelly 

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herein); (vii) your failure (except in the event of your Disability) or refusal to substantially perform your material obligations under this Agreement; (viii) willful failure to
cooperate with a bona fide internal investigation or investigation by regulatory or law enforcement authorities or the destruction or failure to preserve documents or other material reasonably likely to be relevant to such an investigation, or the
inducement of others to fail to cooperate or to destroy or fail to produce documents or other material; (ix) conduct which is considered an offense involving moral turpitude under federal, state or local laws, or which might bring you to public
disrepute, scandal or ridicule or reflect unfavorably upon any of Outdoor’s businesses or those who conduct business with the Company. CBS and its affiliated entities; or (x) during the Term, your terminating your employment without Good
Reason other than due to your death or Disability. The Company will give you written notice prior to terminating your employment pursuant to (iv), (v), (vi), (vii), (viii) or (ix) of this paragraph 8(a), setting forth the nature of any
alleged failure, breach or refusal in reasonable detail and the conduct required to cure. Except for a failure, breach or refusal which, by its nature, cannot reasonably be expected to be cured, you shall have ten (10) business days from the
giving of such notice within which to cure any failure, breach or refusal under (iv), (v), (vi), (vii), (viii) or (ix) of this paragraph 8(a); provided, however, that, if the Company reasonably expects irreparable injury from
a delay of ten (10) business days, the Company may give you notice of such shorter period within which to cure as is reasonable under the circumstances. 

(b) Good Reason Termination. You may terminate your employment under this Agreement for Good Reason at any time during the Term by
written notice to the Company no more than thirty (30) days after the occurrence of the event constituting Good Reason. Such notice shall state an effective date no earlier than thirty (30) business days after the date it is given,
provided, that the Company may set an earlier effective date for your resignation at any time after receipt of your notice. The Company shall have ten (10) business days from the receipt of your notice within which to cure and. in the
event of such cure, your notice shall be of no further force or effect. “Good Reason” shall mean without your consent (other than in connection with the termination or suspension of your employment or duties for Cause or in
connection with your Disability): (i) the requirement that you report to an executive at a level lower than the level of the executive to whom you currently report; (ii) the material breach by the Company of its obligations under this
Agreement, including a material reduction in the scope of your responsibilities, a reduction in title, or a reduction in your base compensation; or (iii) the requirement that you relocate outside of the metropolitan area you currently are
employed in. 
 Notwithstanding anything to the contrary, you hereby consent to the changes in your title, position, duties,
responsibilities, authorities and reporting relationships at the Transition Time as described in paragraph 2 and any other 

 Wally Kelly 

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corresponding changes arising therefrom. Moreover, you expressly understand, acknowledge and agree that none of these changes shall constitute “Good Reason” (as defined in the preceding
paragraph) or otherwise be considered a breach of this Agreement. 
 (c) Termination Without Cause. The Company may terminate your
employment under this Agreement without Cause at any time during the Term by written notice to you. 
 (d) Termination
Payments/Benefits. In the event that your employment terminates under paragraph 8(b) or 8(c) during the Term hereof, subject to paragraph 19 and to the conditions set forth in paragraph 8(h) below, you shall thereafter receive, less applicable
withholding taxes: 
 (i) In the event that your employment terminates under paragraph 8(b) or 8(c) during the Term hereof,
you shall thereafter receive, less applicable withholding taxes, (x) any unpaid Salary through and including the date of termination, any unpaid Bonus earned for the calendar year prior to the calendar year in which you are terminated,
any business expense reimbursements incurred but not yet approved and/or paid and such other amounts as are required to be paid or provided by law (the “Accrued Obligations”), payable within thirty (30) days following
your termination date, and (y) subject to your compliance with paragraph 8(h) hereunder, the following payments and benefits: 

(A) Salary: a severance amount equal to eighteen (18) months of your then current base Salary described in
paragraph 3(a), payable in accordance with CBS’s then effective payroll practices (your “Regular Payroll Amount”) as follows: 

(I) beginning on the regular payroll date (“Regular Payroll Dates”) next following your termination
date, you will receive your Regular Payroll Amount on the Regular Payroll Dates that occur on or before March 15th of the calendar year following the calendar year in which your employment
terminates; 
 (II) beginning with the first Regular Payroll Date after March
15th of the calendar year following the calendar year in which your employment terminates, you will receive your Regular Payroll Amount, if any remains due. until you have received an amount equal
to the maximum amount permitted to be paid pursuant to Treasury Regulation Section 1.409A-1(b)(9)(iii)(A) (i.e., the lesser of (x) two times your “annualized compensation” within the meaning of Code Section 409A or (y)

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two times the limit under Section 401 (a)(17) of the Internal Revenue Code (the “Code”) for the calendar year in which your termination occurs, which is $510,000 for
2013); provided, however, that in no event shall payment be made to you pursuant to this paragraph 8(d)(i)(A)(II) later than December 31st of the second calendar year following your termination of employment; and 

(III) the balance of your Regular Payroll Amount, if any remains due. will be paid to you by payment of your Regular Payroll
Amount on your Regular Payroll Dates beginning with the regular payroll date that follows the date of the last payment pursuant to paragraph 8(d)(i)(A)(II); 

provided, however, that to the extent that you are a “specified employee” (within the meaning of Code
Section 409A and determined pursuant to procedures adopted by CBS) at the time of your termination and any portion of your Regular Payroll Amount that would be paid to you during the six-month period following your termination of employment
constitutes “deferred compensation” within the meaning of Code Section 409A, such portion shall be paid to you in a lump sum on the earlier of (x) the first business day of the seventh calendar month following the calendar
month in which your termination of employment occurs or (y) your death (the applicable date, the “Permissible Payment Date”) rather than as described in paragraph 8(d)(i)(A)(I), (II) or (III), as applicable, and
any remaining Salary, if any, shall be paid to you or your estate, as applicable, by payment of your Regular Payroll Amount on your Regular Payroll Dates commencing with the Regular Payroll Date that follows the Permissible Payment Date. Each
payment pursuant to this paragraph 8(d)(i)(A) shall be regarded as a separate payment and not one of a series of payments for purposes of Code Section 409A. 

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 (B) Bonus: an additional severance amount equal to 1.5 times your
“Severance Bonus”. For purposes of this Agreement, “Severance Bonus” is defined as your Target Bonus in effect on the date of your termination of employment, ignoring any reduction in your Target Bonus prior to such
date that constituted Good Reason. The additional severance amount described above shall be determined and paid as follows: 

(I) an amount equal to your Severance Bonus, prorated for the number of calendar days remaining in the calendar year in which
your employment terminates, and payable between January 1st and March 15th of the calendar year following the calendar year in which
your employment terminates; provided, however, that to the extent (x) you are a “specified employee” (within the meaning of Code Section 409A and determined pursuant to procedures adopted by CBS) at the time
of your termination, (y) your date of termination pursuant to paragraph 8(d)(i) occurs after June 30th of the calendar year, and (z) the prorated bonus described in this paragraph 8(d)(i)(B)(I) is determined to
constitute “deferred compensation” within the meaning of Code Section 409A, then such prorated bonus shall not be paid to you until the earlier of (a) the first business day of the seventh calendar month following the calendar
month in which your termination of employment occurs or (b) your death. Each payment pursuant to this paragraph 8(d)(i)(B) shall be regarded as a separate payment and not one of a series of payments for purposes of Code Section 409A; 

(II) an amount equal to your Severance Bonus, and payable between
January 1st and March 15th of the second calendar year following the calendar year in which your employment terminates;
provided, however, that if the 18th month anniversary of the date of your termination of employment (the “18th Month
Anniversary”) occurs in the calendar year following the calendar year in which your employment terminates, then the Severance Bonus shall be prorated for the number of calendar days in the calendar year following the calendar year in
which your employment terminates that occur on or before the 18th Month Anniversary; and 

(III) if the 18th Month Anniversary occurs in the second calendar year
following the calendar year in which your employment terminates, an amount equal to your Severance Bonus, prorated for the number of calendar days in the second calendar year following the calendar year in which your employment terminates that occur
on or before the 18th Month Anniversary, and payable between January 1st and March 15th of
the third calendar year following the calendar year in which your employment terminates. 

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 (C) Health Benefits: medical and dental insurance coverage for you
and your eligible dependents at no cost to you (except as hereafter described) pursuant to the Company or CBS benefit plans in which you participated in at the time of your termination of employment (or, if different, other benefit plans generally
available to senior level executives) for a period of eighteen (18) months following the termination date, or if earlier, the date on which you become eligible for medical or dental coverage as the case may be from a third party, which period
of coverage shall be considered to run concurrently with the COBRA continuation period; provided that during the period that the Company or CBS provides you with this coverage, the cost of such coverage will be treated as taxable income to
you and the Company or CBS may withhold taxes from your compensation for this purpose; provided, further, that you may elect to continue your medical and dental insurance coverage under COBRA at your own expense for the balance, if
any, of the period required by law. 
 (D) Life Insurance: life insurance coverage until the end of the Term under
the Company policy in effect on the date of termination in the amount then furnished to employees at no cost (the amount of which coverage will be reduced by the amount of life insurance coverage furnished to you at no cost by a third party
employer). 
 (E) Equity: the following with respect to awards granted to you under the LTMIP (or any predecessor
plan to the LTMIP): 
 (I) All outstanding awards of stock options that have not vested and become exercisable on the date
of such termination, but which would otherwise vest on or before the end of an eighteen (18) month period thereafter, shall accelerate and vest immediately on the Release Effective Date, and will continue to be exercisable until the greater of
eighteen (18) months following the termination date or the period provided in accordance with the terms of the grant: provided, however, that in no event shall the exercise period extend beyond their expiration date. 

(II) All outstanding awards of stock options that have previously vested and become exercisable by the date of

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such termination shall remain exercisable until the greater of eighteen (18) months following the termination date or the period provided in accordance with the terms of the grant;
provided, however, that in no event shall the exercise period extend beyond their expiration date. 
 (III)
All outstanding awards of restricted share units (the “RSUs”) and other equity awards that would otherwise vest on or before the end of an eighteen (18) month period following the termination date shall accelerate and vest
immediately on the Release Effective Date and be settled within ten (10) business days thereafter; provided, however, that with respect to RSUs and other equity awards which remain subject to performance-based vesting conditions on
your termination date, in the event and limited to the extent that compliance with the performance-based compensation exception is required in order to ensure the deductibility of any such RSU or other equity award under Internal Revenue Code
Section 162(m) (“Code Section 162(m)”), such RSU or other equity award shall vest if and to the extent the Committee certifies that a level of the performance goal(s)
relating to such RSU or other equity award has been met, or, if later, the Release Effective Date, and shall be settled within ten (10) business days thereafter; provided, further, that with respect to RSUs and other equity awards
which remain subject to performance-based vesting conditions on your termination date, in the event and to the extent that compliance with the performance-based compensation exception under Code Section 162(m) is not required in order to ensure the
deductibility of any such RSU or other equity award, such RSU or other equity award shall immediately vest (with an assumption that the performance goal(s) were achieved at target level, if and to the extent applicable) on the Release Effective Date
and be settled within ten (10) business days thereafter; provided, further, that to the extent that you are a “specified employee” (within the meaning of Code Section 409A and determined pursuant to procedures adopted by CBS)
at the time of your termination and any portion of your RSUs or other equity awards that would otherwise be settled during the six-month period following your termination of employment constitutes “deferred compensation” within the meaning
of Code Section 409A, such portion shall instead be settled on the Permissible Payment Date. 

 Wally Kelly 

as of August 21, 2013 
  Page
 15
 
  

 (ii) You shall be required to mitigate the amount of any payment provided for
in paragraph 8(d)(i) by seeking other employment, and the amount of such payments shall be reduced by any compensation earned by you from any source, including, without limitation, salary, sign-on or annual bonus compensation, consulting fees, and
commission payments, provided that mitigation shall not be required, and no reduction for other compensation shall be made, for earnings for services provided during the first six (6) months after the termination of your employment. You
agree to advise the Company immediately and in writing of any employment for which you are receiving such payments and to provide documentation as requested by the Company with respect to such employment. The payments provided for in paragraph 

8(d)(i) are in lieu of any other severance or income continuation or protection under any Company or CBS plan, program
or agreement that may now or hereafter exist (unless the terms of such plan, program or agreement expressly state that the payments and benefits payable thereunder are intended to be in addition to the type of payments and benefits described in
paragraph 8(d)(i)). 
 (e) Renewal Notice / Non-Renewal. 

(i) The Company shall notify you six (6) months prior to September 30, 2015 in writing if it intends to continue your
employment beyond this date. If you are notified that the Company does intend to continue your employment, then you agree that you shall negotiate exclusively with the Company for the first 90 days following such notification. Nothing contained
herein shall obligate the Company to provide an increase to your compensation hereunder upon such renewal. 
 (ii) If you
remain employed beyond the end of the Term but have not entered into a new contractual relationship with the Company or any of its subsidiaries, your continued employment shall be “at will” and on such terms and conditions as the Company
may at the time establish, and either party, during such period, may terminate your employment at any time, provided, that if the Company terminates your employment during such period without cause, you shall become eligible to receive
severance under the then current Company severance policy applicable to executives at your level subject to the terms of such severance policy including your execution of a release in favor of the Company. 

(f) Termination of Benefits. Notwithstanding anything in this Agreement to the contrary (except as otherwise provided in paragraph 8(d)
with respect to medical and dental benefits and life insurance), participation in all the Company benefit plans and programs (including, without limitation, vacation accrual, all retirement and related excess plans and LTD) will terminate upon the
termination of 

 Wally Kelly 

as of August 21, 2013 
  Page
 16
 
  

 
your employment except to the extent otherwise expressly provided in such plans or programs and subject to any vested rights you may have under the terms of such plans or programs. The foregoing
shall not apply to the LTMIP and. after the termination of your employment, your rights under the LTMIP shall be governed by the terms of the LTMIP award agreements or certificates and the applicable LTMIP plans. 

(g) Resignation from Official Positions. If your employment with the Company terminates for any reason, you shall be deemed to have
resigned at that time from any and all officer or director positions that you may have held with the Company, CBS, or any of their respective affiliated companies and all board seats or other positions in other entities you held on behalf of the
Company. If, for any reason, this paragraph 8(g) is deemed insufficient to effectuate such resignation, you agree to execute, upon the request of the Company, any documents or instruments which the Company may deem necessary or desirable to
effectuate such resignation or resignations, and you hereby authorize the Secretary and any Assistant Secretary of the Company to execute any such documents or instruments as your attorney-in-fact. 

(h) Release and Compliance with Paragraph 6. 

(i) Notwithstanding any provision in this Agreement to the contrary, prior to payment by the Company of any amount or provision
of any benefit pursuant to paragraph 8(d), within sixty (60) days following your termination of employment, (x) you shall have executed and delivered to the Company and CBS a general release in a form satisfactory to both and
(y) such general release shall have become effective and irrevocable in its entirety (such date, the “Release Effective Date”); provided, however, that if, at the time any cash severance payments are
scheduled to be paid to you pursuant to paragraph 8(d) you have not executed a general release that has become effective and irrevocable in its entirety, then any such cash severance payments shall be held and accumulated without interest, and shall
be paid to you on the first Regular Payroll Date following the Release Effective Date. Your failure or refusal to sign and deliver the release or your revocation of an executed and delivered release in accordance with applicable laws, whether
intentionally or unintentionally, will result in the forfeiture of the payments and benefits under paragraph 8(d). Notwithstanding the foregoing, if the sixty (60) day period does not begin and end in the same calendar year, then the Release
Effective Date shall occur no earlier than January 1st of the calendar year following the calendar year in which your termination occurs. 

(ii) Notwithstanding any provision in this Agreement to the contrary, the payments and benefits described in paragraph 8(d)
shall immediately cease, and the Company shall have no further obligations to you with respect thereto, in the event that you materially breach any provision of paragraph 6 hereof. 

 Wally Kelly 

as of August 21, 2013 
  Page
 17
 
  

 9. Death. In the event of your death prior to the end of the Term while actively
employed, your beneficiary or estate shall receive (i) your Salary up to the date on which the death occurs; (ii) any Bonus earned in the prior year but not yet paid; and (iii) bonus compensation for the calendar year in which the
death occurs, determined in accordance with the STIP (i.e., based upon Outdoor’s achievement of its goals and Outdoor’s good faith estimate of your achievement of your personal goals) and pro-rated for the portion of the year
through the date of death, payable, less applicable deductions and withholding taxes, by February 28th of the following year. In the event of your death after the termination of your employment while you are entitled to receive compensation
under paragraph 8(d), your beneficiary or estate shall receive (x) any Salary payable under paragraph 8(d)(i) up to the date on which the death occurs; and (y) bonus compensation for the calendar year in which the death occurs in an amount
equal to your Target Bonus and pro-rated for the portion of the year through the date of death, payable, less applicable deductions and withholding taxes, by February 28th of the following year. 

10. No Acceptance of Payments. You represent that you have not accepted or given nor will you accept or give, directly or indirectly,
any money, services or other valuable consideration from or to anyone other than the Company for the inclusion of any matter as part of any film, television program or other production produced, distributed and/or developed by the Company, CBS, or
any of their respective affiliated companies. 
 11. Equal Opportunity Employer; Employee Statement of Business Conduct. You
recognize that the Company is an equal opportunity employer. You agree that you will comply with the Company policies regarding employment practices and with applicable federal, state and local laws prohibiting discrimination on the basis of race,
color, sex, religion, national origin, citizenship, age, marital status, sexual orientation, disability or veteran status. In addition, you agree that you will comply with the Company’s and/or CBS’s Business Conduct Statement, as
applicable. 
 12. Notices. All notices under this Agreement must be given in writing, by personal delivery or by mail, at the
parties’ respective addresses shown on this Agreement (or any other address designated in writing by either party), with a copy, in the case of the Company, to the attention of the General Counsel of the Company, and in the case of CBS, to the
attention of the General Counsel of CBS. Any notice given by mail shall be deemed to have been given three days following such mailing. 

13. Assignment. This is an Agreement for the performance of personal services by you and may not be assigned by you or the Company
except that the Company may assign this Agreement to any affiliated company of or any successor in interest to the Company or CBS or any of their affiliates. 

 Wally Kelly 

as of August 21, 2013 
  Page
 18
 
  

 14. New York Law, Etc. You acknowledge that this Agreement has been
executed, in whole or in part, in New York, and that a significant portion of your employment duties are primarily performed in New York. Accordingly, you agree that this Agreement and all matters or issues arising out of or relating to your
employment with the Company shall be governed by the laws of the State of New York applicable to contracts entered into and performed entirely therein. 

15. No Implied Contract. Nothing contained in this Agreement shall be construed to impose any obligation on the Company or you to renew
this Agreement or any portion thereof. The parties intend to be bound only upon execution of a written agreement and no negotiation, exchange of draft or partial performance shall be deemed to imply an agreement. Neither the continuation of
employment nor any other conduct shall be deemed to imply a continuing agreement upon the expiration of the Term. 
 16. Entire
Understanding. This Agreement contains the entire understanding of the parties hereto relating to the subject matter contained in this Agreement, and can be changed only by a writing signed by both parties. 

17. Void Provisions. If any provision of this Agreement, as applied to either party or to any circumstances, shall be found by a court
of competent jurisdiction to be unenforceable but would be enforceable if some part were deleted or the period or area of application were reduced, then such provision shall apply with the modification necessary to make it enforceable, and shall in
no way affect any other provision of this Agreement or the validity or enforceability of this Agreement. 
 18. Supersedes Prior
Agreements. With respect to the period covered by the Term, this Agreement supersedes and cancels all prior agreements relating to your employment by the Company, CBS, or any of their respective affiliated companies. 

19. Deductions and Withholdings, Payment of Deferred Compensation – 409A. 

(a) To the extent applicable, it is intended that the compensation arrangements under this Agreement be in full compliance with Code
Section 409A. This Agreement shall be construed in a manner to give effect to such intention. In no event whatsoever (including, but not limited to as a result of this paragraph 19 or otherwise) shall the Company nor any of its affiliates be
liable for any tax, interest or penalties that may be imposed on you under Code Section 409A. Neither the Company nor any of its affiliates have any obligation to indemnify or otherwise hold you harmless from any or all such taxes, interest or
penalties, or liability for any damages related thereto. You acknowledge that you have been advised to obtain independent legal, tax or other counsel in connection with Code Section 409A. 

(b) Your right to any in-kind benefit or reimbursement benefits pursuant to any provisions of this Agreement or pursuant to any plan or
arrangement of the Company or CBS covered by this Agreement shall not be subject to liquidation or exchange for cash or another benefit. 

 Wally Kelly 

as of August 21, 2013 
  Page
 19
 
  

 20. Arbitration. If any disagreement or dispute whatsoever shall arise between the
parties concerning this Agreement (including the documents referenced herein) or your employment with the Company, the parties hereto agree that such disagreement or dispute shall be submitted to arbitration before the American Arbitration
Association (“AAA”). and that a neutral arbitrator will be selected in a manner consistent with its Employment Arbitration Rules and Mediation Procedures (“Rules”). Such arbitration shall be
confidential and private and conducted in accordance with the Rules. Any such arbitration proceeding shall take place in New York City before a single arbitrator (rather than a panel of arbitrators). The parties agree that the arbitrator shall have
no authority to award any punitive or exemplary damages and waive, to the full extent permitted by law, any right to recover such damages in such arbitration. Each party shall bear its respective costs (including attorney’s fees, and there
shall be no award of attorney’s fees). Judgment upon the final award rendered by such arbitrator, after giving effect to the AAA internal appeals process, may be entered in any court having jurisdiction thereof. Notwithstanding anything herein
to the contrary, the Company shall be entitled to seek injunctive, provisional and equitable relief in a court proceeding as a result of your alleged violation of the terms of Section 6 of this Agreement, and you hereby consent and agree to
exclusive personal jurisdiction in any state or federal court located in the City of New York, Borough of Manhattan. 
 21.
Counterparts. This Agreement may be executed in one or more counterparts, including by facsimile, and all of the counterparts shall constitute one fully executed agreement. The signature of any party to any counterpart shall be deemed a
signature to, and may be appended to, any other counterpart. 
 [signature page to follow] 

 If the foregoing correctly sets forth our understanding, please sign, date and return all four
(4) copies of this Agreement to the undersigned for execution on behalf of the Company; after this Agreement has been executed by the Company and a fully-executed copy returned to you, it shall constitute a binding agreement between us. 

 

			
	 Very truly yours,

	
	 CBS OUTDOOR AMERICAS INC.

		
	 By:
	 	 /s/Anthony G. Ambrosio 

		 	Anthony G. Ambrosio

  

			
	ACCEPTED AND AGREED:
	
	 /s/ Wally Kelly 

	Wally Kelly
		
	 Dated:
	 	 Aug. 25, 2013EX-10.12

 Exhibit 10.12 

AGREEMENT made as of the 20th day of November, 2013, by and between CBS Outdoor Americas Inc. (“CBS
Outdoor”), a business unit of CBS Corporation (“CBS”), having an address at 405 Lexington Avenue, New York, New York 10174 and Donald R. Shassian (“Executive”). 

W I T N E S S E T H: 
 WHEREAS,
CBS Outdoor desires to secure the services of Executive as Executive Vice President and Chief Financial Officer, and Executive is willing to perform such services, upon the terms, provisions and conditions hereinafter set forth; 

NOW, THEREFORE, in consideration of the promises and the mutual covenants hereinafter contained, it is agreed upon between CBS Outdoor and
Executive as follows: 
 1. (a) CBS Outdoor shall employ Executive, and Executive shall hereby accept employment as Executive Vice President
and Chief Financial Officer, for a Term commencing November 25, 2013 (the “Effective Date”) and ending December 31, 2016 (the “Employment Term”). Should Executive remain employed by CBS Outdoor or CBS following the
expiration of the Employment Term, the Executive’s status shall be as an “at will” employee, subject to such terms and conditions of employment as CBS Outdoor or CBS, as applicable, may in its sole discretion implement. 

(b) CBS Outdoor shall advise Executive one hundred eighty (180) days prior to the end of the then scheduled Employment Term (the
“Notice Period”) whether it wishes to negotiate with Executive regarding an extension of this Agreement or the terms of a new agreement for Executive’s services. If CBS Outdoor advises Executive of its desire to so negotiate, then,
for ninety (90) days (“Negotiating Period”), Executive agrees to negotiate in good faith exclusively with CBS Outdoor regarding an extension of this Agreement or the terms of a new Agreement for Executive’s services. During the
Negotiating Period, Executive shall not discuss or negotiate with any entity other than CBS Outdoor with respect to Executive’s services. 

  
 – 1 – 

 2. (a) CBS Outdoor agrees to pay Executive, and Executive agrees to accept from CBS Outdoor
for Executive’s services hereunder, a base salary of Six Hundred Fifty Thousand Dollars ($650,000) per annum. Base salary shall be payable, less applicable deductions and withholding taxes, in accordance with the regular payroll practices of
CBS Outdoor. During the Employment Term, Executive’s base salary shall be subject to the potential of increase at CBS Outdoor’s discretion in accordance with CBS compensation guidelines and practices; provided, however, that in no event
shall Executive’s base salary be less than $650,000. 
 (b) Beginning with calendar year 2014, CBS Outdoor agrees that Executive shall
be eligible to be considered for participation in the CBS Short-Term Incentive Plan, i.e., CBS’s current bonus plan, or any successor plans to STIP (the “CBS STIP”), or a CBS Outdoor short-term incentive plan (the “Outdoor
STIP”), and together with the CBS STIP the “STIP”. Executive shall have an annual bonus target equal to Seventy-Five percent (75%) of Executive’s base salary. Since STIP is administered under procedures that are not subject
to contractual arrangements, eligibility for consideration is no guarantee of actual participation (or of meeting any target amounts), and the precise amount, form and timing of these awards, if any, shall be determined on an annual basis at the
sole discretion of the Board of Directors of CBS or CBS Outdoor, as applicable (the “Board”), or the appropriate committee of such Board. 

(c) CBS Outdoor further agrees that Executive shall be eligible to be considered for participation in the CBS Corporation 2009 Long-Term
Incentive Plan, i.e., CBS’s current long-term incentive plan, or any successor plan thereto (the “CBS 

  
 – 2 – 

 
LTIP”), or the CBS Outdoor long-term incentive plan, or any successor plan thereto, (the “CBS Outdoor LTIP”), and together with the CBS LTIP the “LTIP”, and shall be
recommended for an annual grant with a Target Long-Term Incentive value equal to One Million and Three Hundred and Fifty Thousand Dollars ($1,350,000). Since the LTIP is administered under procedures that are not subject to contractual arrangements,
eligibility for consideration is no guarantee of actual participation (or of meeting any target amounts), and the precise amount, form and timing of these awards, if any, shall be determined on an annual basis at the sole discretion of the Board or
the appropriate committee of such Board. 
 (d) For 2013, CBS has agreed to make an “out-of-cycle” equity award equal to Five
Hundred Thousand Dollars ($500,000) (the “2013 Grant Date Value”) soon after Executive commences employment in order to establish appropriate long-term incentives at the outset of Executive’s career with CBS Outdoor. This award will
be made effective on the earlier of (i) the first trading day of the month following the approval of the award and (ii) December 31, 2013 (the “2013 Grant Date”), provided that Executive begins serving as the Executive Vice
President and Chief Financial Officer of CBS Outdoor on the Effective Date. The 2013 Grant Date Value will be delivered in the form of RSUs (the “CBS RSUs”). The number of CBS RSUs to be granted will be determined by dividing the 2013
Grant Date Value by the per share closing price of one share of CBS Class B Common Stock (“CBS Stock”) on the 2013 Grant Date (rounding down to the nearest whole share). The CBS RSUs shall be payable in shares of CBS Stock, subject to
paragraph 2(e) below. The CBS RSUs shall vest ratably over a four year period with 25% vesting on each of the first four anniversaries of the 2013 Grant Date, subject to Executive’s continued employment on each such vesting date. 

  
 – 3 – 

 (e) In connection with the IPO and subject to terms and conditions of the underwriters of the IPO
and Executive’s continued employment with CBS Outdoor through the date of the IPO, Executive will be afforded the opportunity to purchase a number of shares of CBS Outdoor common stock (“Outdoor Stock”) in such IPO at the public
offering price (the “IPO Price”) having an aggregate value of up to Two Million U.S. Dollars (US $2,000,000), with the number of shares of Outdoor Stock purchased to be determined based on the IPO Price; provided that Executive must
provide notice to CBS Outdoor of his intention to purchase such Outdoor Stock and the amount of such purchase no later than thirty (30) days prior to commencement of the road show for the IPO. If Executive chooses to purchase Outdoor Stock
pursuant to the foregoing sentence, he will receive an award of RSUs under the CBS Outdoor LTIP (the “Outdoor RSUs”) within thirty (30) days following the date of the IPO (such grant date, the “Outdoor RSU Grant Date”), with
the number of Outdoor RSUs to be granted to him equal to the product (rounded down to the nearest whole share) of (x) 0.5 multiplied by (y) the number of shares of Outdoor Stock he purchased. For the avoidance of doubt, each Outdoor RSU
shall correspond to one (1) share of Outdoor Stock. The Outdoor RSUs shall vest in four (4) equal installments on each of the first, second, third and fourth anniversaries of the Outdoor RSU Grant Date, provided that Executive is employed
on each such vesting date, and subject to the terms of the applicable award agreement. The Outdoor RSUs shall be payable in shares of Outdoor Stock. The Outdoor RSUs covered by each installment of such award shall be settled within ten
(10) business days after the date on which such RSUs vest. 
 (f) Anything herein to the contrary notwithstanding, upon the date of the
IPO, any unvested CBS RSUs in respect of shares of CBS Stock held by Executive as 

  
 – 4 – 

 
of the date of the IPO, shall be converted into unvested RSUs in respect of shares of Outdoor Stock of substantially equivalent value (as determined by CBS in accordance with the terms of the CBS
LTIP) and subject to terms and conditions substantially equivalent to those governing such unvested CBS RSUs prior to such conversion. 
 3.
(a) Executive shall be eligible to participate in all plans now existing or hereafter adopted for the general benefit of CBS Outdoor employees for the period of such plans’ existence, subject to the provisions of such plans as the same may be
in effect from time to time unless otherwise prescribed. Executive shall also be eligible to participate in other CBS or CBS Outdoor benefit plans in which participation is limited to CBS Outdoor executives in positions comparable to or lesser than
Executive’s. Since plans in this latter category are administered under procedures that are not subject to contractual arrangements, eligibility for consideration is no guarantee of actual participation because the discretion of the Board or
that of the appropriate committee of such Board, in granting participation, is absolute. To the extent Executive participates in any benefit plan, such participation shall be based upon Executive’s base salary, unless otherwise indicated in the
plan document. 
 (b) Executive shall be eligible for four weeks of vacation each calendar year. 

4. (a) Executive agrees to devote all business time and attention to the affairs of CBS Outdoor, except during vacation periods and reasonable
periods of illness or other incapacity consistent with the practices of CBS Outdoor for executives in comparable positions. Executive further agrees that Executive’s services shall be completely exclusive to CBS Outdoor during the Employment
Term and that Executive will fulfill all fiduciary duties and exhibit a duty of loyalty to CBS Outdoor at all times. Executive also agrees to comply with all applicable CBS and CBS Outdoor policies, as may be amended from time to time. 

  
 – 5 – 

 (b) Anything herein to the contrary notwithstanding, Executive will be permitted to continue
serving as a member of the board of directors or similar governing body on which he was already elected to serve as of the Effective Date, provided that such service is consistent with the business practices and policies of CBS and CBS Outdoor and
does not materially interfere with the performance of Executive’s duties hereunder. 
 5. (a) Executive acknowledges that Executive has
been furnished a copy of CBS Corporation’s 2012 Business Conduct Statement (“BCS”). Executive represents and warrants that Executive has read and fully understands all of the requirements thereof, and that Executive is in full
compliance with the terms of the BCS. Executive further represents and warrants that at all times during the Employment Term, Executive shall perform Executive’s services hereunder in full compliance with the BCS (and/or any CBS Outdoor conduct
statement as may apply from time to time), and with any revisions thereof or additions thereto. 
 (b) During the Employment Term, except as
authorized by CBS Outdoor, Executive shall not (i) give any interviews or speeches, or (ii) prepare or assist any person or entity in the preparation of any books, articles, television or motion picture productions or other creations, in
either case, concerning CBS, CBS Outdoor or any of CBS’s affiliated companies or any of their respective officers, directors, agents, employees, suppliers or customers. 

(c) Executive shall act at all times with due regard to public morals, conventions, CBS Outdoor and CBS policies. If Executive shall have
committed or does 

  
 – 6 – 

 
commit any act, or if Executive shall have conducted or does conduct himself in a manner, which shall be an offense involving moral turpitude under federal, state or local laws, or which might
tend to bring Executive to public disrepute, contempt, scandal or ridicule, or which might tend to reflect unfavorably upon CBS Outdoor or CBS, CBS Outdoor shall have the right to terminate this Agreement upon notice to Executive given at any time
following the date on which the commission of such act, or such conduct, shall have become known to CBS Outdoor. 
 6. Executive
acknowledges that CBS Outdoor is an equal opportunity employer. Executive represents and warrants that Executive has read and fully understands the CBS Outdoor Equal Employment Opportunity (“EEO”) policy and that Executive is in full
compliance with the terms of the EEO policy. Executive further represents and warrants that Executive will comply with the EEO policy and with applicable Federal, state and local laws prohibiting discrimination on the basis of race, color, national
origin, religion, sex, age, disability, alienage or citizenship status, sexual orientation, veteran’s status, gender identity or gender expression, marital status, height or weight, genetic information or any other characteristic protected by
law or CBS Outdoor or CBS policy during the Employment Term. 
 7. (a) In the event of Executive’s death while employed hereunder, base
salary payments and all other compensation to be paid pursuant to this Agreement shall cease immediately and this Agreement shall terminate at the time of death; provided, however, the estate of Executive shall receive any base salary due and not
yet paid through the date of Executive’s death and any accrued but unused vacation to which Executive was entitled. Further, all outstanding CBS RSUs (whether or not they have been converted into RSUs in respect of Outdoor Stock pursuant to
paragraph 2(f)) and 

  
 – 7 – 

 
Outdoor RSUs (or portions thereof) that would otherwise vest on or before the twelve (12) month period following the Executive’s date of death or, if later, the period provided in
accordance with the terms and conditions of the grant, shall accelerate and vest immediately on the date of death and be settled as soon as administratively feasible thereafter. In addition, Executive’s estate shall be eligible to receive a
prorated bonus for that portion of the year of such termination during which Executive actively rendered such services, paid in accordance with the STIP. The precise amount of bonus payable, if any, will be determined in a manner consistent with the
manner bonus pay determinations are made for comparable CBS Outdoor executives. The payments provided for in this paragraph 7(a) and paragraphs 7(b) through (e) below, in the event of death shall be made no later than February 28th of the calendar year following the calendar year of Executive’s death. 
 (b) (i)
CBS Outdoor may, at its option, terminate Executive’s employment under this Agreement for Cause at any time during the Employment Term. For purposes of this Agreement, “Cause” shall mean: (A) fraud, misappropriation or
embezzlement on the part of Executive, (B) conviction of a felony or a misdemeanor involving fraud, perjury or moral turpitude, (C) Executive’s repeated willful failure to perform services hereunder, (D) Executive’s material
breach of the provisions of paragraphs 4, 5, 6, 8, 9, 10, 11, 12 or 13 hereof, or (E) during the Employment Term, Executive terminating his employment other than due to his death or disability. Except as provided below with respect to clause
(C), CBS Outdoor shall immediately have the right to terminate this Agreement without further obligation of any nature, including but not limited to the payment of cash compensation, the vesting of equity compensation, and/or the accrual of vacation
time, except for the payment of vested benefits and/or allowing Executive to be eligible for medical and dental benefits as required by law. 

  
 – 8 – 

 CBS Outdoor will give Executive written notice prior to terminating his employment pursuant to
paragraph 7(b)(i)(C), setting forth the nature of any alleged repeated willful failure in reasonable detail and the conduct required to cure, if any. Except for a repeated willful failure which, by its nature, CBS Outdoor determines cannot
reasonably be expected to be cured, Executive shall have ten (10) business days from the date on which CBS Outdoor provides such notice within which to cure any repeated willful failure under clause (C) of this paragraph 7(b)(i); provided,
however, that if CBS Outdoor reasonably expects irreparable injury from a delay of ten (10) business days, CBS Outdoor may give Executive notice of such shorter period within which to cure as is reasonable under the circumstances. 

(ii) Notwithstanding the foregoing, Executive shall be entitled to receive any base salary due and not yet paid and any accrued but unused
vacation should Executive’s employment be terminated for Cause pursuant to this paragraph 7(b). 
 (c) (i) If, while employed during
the Employment Term, Executive becomes “disabled” within the meaning of such term under the short-term disability (“STD”) program in which CBS Outdoor senior executives are eligible to participate (such condition is referred to
as a “Disability” or being “Disabled”), Executive will be considered to have experienced a termination of employment with CBS Outdoor as of the date he first becomes eligible to receive benefits under long-term disability
(“LTD”) program in which CBS Outdoor senior executives are eligible to participate or, if he does not become eligible to receive benefits under such CBS Outdoor LTD program, he has 

  
 – 9 – 

 
not returned to work by the six (6) month anniversary of his Disability onset date. Except as provided in this paragraph 7(c), if Executive becomes Disabled while employed during the
Employment Term, Executive will exclusively receive compensation under the STD program in accordance with its terms and, thereafter, under the LTD program in accordance with its terms, provided he is eligible to receive LTD program benefits. 

(ii) Notwithstanding the foregoing, if Executive has not returned to work by December 31st of a calendar year during the Employment Term,
he will receive bonus compensation for the calendar year(s) during the Employment Term in which he receives compensation under the STD program, determined as follows: 

(A) for the portion of the calendar year from January 1st until the date on which Executive first receives compensation
under the STD program, bonus compensation shall be determined in accordance with the STIP (i.e., based upon achievement of company performance goals and the Committee’s good faith estimate of Executive’s achievement of his personal goals)
and prorated for such period; and 
 (B) for any subsequent portion of that calendar year and any portion of the following
calendar year in which Executive receives compensation under the STD program, bonus compensation shall be in an amount equal to his target bonus and prorated for such period(s). 

Bonus compensation under this paragraph 7(c)(ii) shall be paid, less applicable deductions and withholding taxes, between January 1st and
February 28th of the calendar year following the calendar year to which such bonus compensation relates. Executive will not receive bonus compensation for any portion of the calendar year(s) 

  
 – 10 – 

 
during the Employment Term while he receives benefits under the LTD program. For the periods that Executive receives compensation and benefits under the STD and LTD programs, such compensation
and benefits and the bonus compensation provided under this paragraph 7(c)(ii) are in lieu of salary and bonus under paragraphs 2(a) and (b). 

(iii) Further, if Executive’s employment is terminated due to his “Permanent Disability” (as defined in the then current LTIP),
all outstanding CBS RSUs (whether or not they have been converted into RSUs in respect of Outdoor Stock pursuant to paragraph 2(f)) and Outdoor RSUs (or portions thereof) that would otherwise vest on or before the twelve (12) month period
following the Executive’s termination date or, if later, the period provided in accordance with the terms and conditions of the grant, shall immediately vest and be settled within ten (10) business days thereafter. 

(iv) Notwithstanding the foregoing, Executive shall be entitled to receive any base salary due and not yet paid and any accrued but unused
vacation should Executive’s employment be terminated due to his Disability pursuant to this paragraph 7(c). 
 (d) (i) If, during the
Employment Term, the employment of Executive by CBS Outdoor is terminated other than for Cause (as defined above), death, disability or other incapacity (hereinafter collectively referred to as “Termination Other Than for Cause”), then
Executive shall be entitled to receive a severance payment in the amount of twelve (12) months of base salary continuance at Executive’s then current base salary (the “Severance Payment”). Executive shall not be required to mitigate
the amount of the Severance Payment by seeking other employment. 

  
 – 11 – 

 To the extent payments provided for in this paragraph 7(d)(i) are payable to Executive, such
payments shall be made in accordance with CBS Outdoor’s then effective payroll practices (Executive’s “Regular Payroll Amount”) as follows: 
  

	 	A.	beginning on the regular payroll date (“Regular Payroll Dates”) following the date Executive is terminated other than for Cause from Executive’s position, Executive will receive Executive’s Regular
Payroll Amount on the Regular Payroll Dates that occur prior to March 15th of the year following the year in which Executive was terminated other than for Cause from Executive’s position; 

 

	 	B.	beginning with the first Regular Payroll Date on or after March 15th of the year following the year in which Executive is terminated other than for Cause from
Executive’s position, Executive will receive Executive’s Regular Payroll Amount, to the extent a balance, if any, remains due, until Executive has received an amount equal to the maximum amount permitted to be paid pursuant to Treasury
Regulation Section 1.409A-1(b)(9)(iii)(A) (i.e., the lesser of two times Executive’s annualized compensation or two times the Section 401(a)(17) limit for the year in which Executive is terminated other than for Cause from
Executive’s position, which amount is $510,000 for 2013) provided, however, that in no event shall payment be made to Executive pursuant to this paragraph 7(c)(i)(B) later than December 31st of the second year following the year in which
Executive was terminated other than for Cause from Executive’s position; and 

  

	 	C.	the balance of Executive’s Regular Payroll Amount, to the extent any remains due, will be paid to Executive by payment of Executive’s Regular Payroll Amount on Executive’s Regular Payroll Dates beginning
with the regular payroll date that follows the date of the final payment pursuant to paragraph 7(d)(i)(B); 

  
 – 12 – 

 provided, however, that in the event that Executive is a “specified employee” (within the meaning of
Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder (“Code Section 409A”) and as determined pursuant to procedures adopted by the Company) and has actually, or is
deemed to have, incurred a “separation from service” within the meaning of Code Section 409A (“409A Termination”) and if any portion of Executive’s Regular Payroll Amount that would be paid to the Executive (for
termination other than for Cause) during the six-month period following such 409A Termination constitutes deferred compensation (within the meaning of Code Section 409A), such portion shall be paid to Executive on the earlier of (A) the
first business day of the seventh month following the month in which Executive’s 409A Termination occurs or (B) Executive’s death (the applicable date, the “Permissible Payment Date”) rather than as described in paragraph
7(d)(i)(A),(B) or (C), as applicable, and remaining payments of base salary, if any, shall be paid to Executive or to Executive’s estate, as applicable, by payment of Executive’s Regular Payroll Amount on Executive’s Regular Payroll
Dates commencing with the Regular Payroll Date that follows the Permissible Date. Each payment pursuant to this paragraph 7(d)(i)(A), (B) and (C) shall be regarded as a separate payment and not one of a series of payments for purposes of
Code Section 409A. 

  
 – 13 – 

 (ii) In addition, upon a Termination Other Than for Cause, Executive shall also be eligible to
receive a prorated bonus for that portion of the year of such termination during which Executive actively rendered such services, paid in accordance with the STIP. The precise amount of bonus payable, if any, will be determined in a manner
consistent with the manner bonus pay determinations are made for comparable CBS Outdoor executives, and such bonus, if any, less applicable deductions and withholding taxes, shall be payable by February 28 of the following calendar year in
accordance with STIP guidelines. 
 (iii) To the extent that a Termination Other Than for Cause is considered a “separation from
service” within the meaning of Code Section 409A and which results in the Executive’s loss of eligibility for medical and/or dental benefits under CBS Outdoor’s then effective benefit plans, Executive shall be eligible for continued
coverage under the existing plans applicable to Executive and/or continued medical and dental coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act, 29 U.S.C. section 1161 et seq. (“COBRA”) for the earlier of (x) eighteen
(18) months from the date of Executive’s termination, or (y) the date on which Executive becomes eligible for medical and dental coverage from a third-party employer. If Executive elects to continue Executive’s coverage under the
CBS Medical and/or Dental Plans under COBRA, and if Executive signs the Release described in paragraph 19 hereof, CBS Outdoor will provide Executive’s coverage at no cost for a time period up to twelve (12) months (assuming Executive does not
become covered under another group plan sooner). Any COBRA coverage beyond this time period will be at 

  
 – 14 – 

 
Executive’s own cost. The amount CBS Outdoor will pay for continued medical and/or dental COBRA coverage following Executive’s Termination Other Than for Cause, if any, will be treated
as taxable income and will be reported on a Form W-2, and CBS Outdoor may withhold taxes from Executive’s compensation for this purpose. The parties agree that, consistent with the provisions of Code Section 409A, the following in-kind
benefit rules shall also apply: (i) the amount of in-kind benefits paid during a calendar year will not affect the in-kind benefits in any other calendar year; and (ii) Executive’s right to in-kind benefits is not subject to
liquidation or exchange for another benefit. 
 (iv) Further, all outstanding CBS RSUs (whether or not they have been converted into RSUs in
respect of Outdoor Stock pursuant to paragraph 2(f)) and Outdoor RSUs (or portions thereof) that would otherwise vest on or before the end of a twelve (12) month period following the date of Executive’s termination shall accelerate and
vest immediately on the Release Effective Date (as defined in paragraph 19) and be settled within ten (10) business days thereafter. 

(v) The payments and benefits to be provided to Executive under this paragraph 7(d) are expressly conditioned upon Executive’s execution
of a release that becomes effective and irrevocable as provided in paragraph 19 below. The payments and benefits provided for in this paragraph 7(d) are in lieu of any other severance payments or protections under any plan that may now or hereafter
exist and shall be the sole and exclusive compensation payable in the event of a Termination Other Than for Cause. For the avoidance of doubt, following Executive’s Termination Other Than for Cause, CBS Outdoor shall have no further obligation
to Executive of any nature, including but not limited to the payment of cash compensation, the vesting of equity compensation, and/or the accrual of vacation time, except for the payments and benefit

  
 - 15 - 

 
entitlements expressly provided for in this paragraph 7(d). Notwithstanding the foregoing, Executive shall be entitled to receive any base salary due and not yet paid and any accrued but unused
vacation should Executive’s employment be terminated pursuant to this paragraph 7(d), and in the event of Executive’s death after termination pursuant to this paragraph 7(d), Executive’s estate shall receive any severance payment due
and not yet paid through the date of Executive’s death. Nothing herein shall obligate CBS Outdoor to utilize Executive’s services. If the employment of Executive is terminated by CBS Outdoor for Cause or by reason of Executive’s
Disability or death, this paragraph 7(d) shall not be applicable. 
 (e) (i) As set forth in paragraph 1(b), CBS Outdoor agrees to advise
Executive one hundred eighty (180) days prior to the end of the then scheduled Employment Term whether it wishes to negotiate with Executive regarding an extension of this Agreement or the terms of a new agreement for Executive’s services.
Nothing contained herein shall obligate CBS Outdoor to provide an increase to Executive’s compensation hereunder upon such renewal. 

(ii) If Executive remains employed on the date that is the last day of the Employment Term, but has not entered into a new contractual
relationship with CBS Outdoor (or any of CBS Outdoor’s subsidiaries), then, unless Executive agrees to continue his employment following expiration of the Employment Term on an “at will” basis, his employment with CBS Outdoor shall
terminate at the end of the Employment Term and he shall be entitled to receive the same payments and benefits, including, without limitation, severance and accelerated vesting of certain equity awards, on the same basis as if the termination of his
employment were a termination without Cause under paragraph 7(d) above, subject to Executive’s execution of a release in favor of CBS Outdoor as further described in paragraph 19. 

  
 - 16 - 

 (iii) If Executive agrees to continue his employment with CBS Outdoor on an “at will”
basis following expiration of the Employment Term, Executive acknowledges and agrees that he shall not be entitled to receive any severance payments under the terms of this Agreement; provided, however, that if CBS Outdoor subsequently terminates
Executive’s “at will” employment without Cause (as that term is defined in paragraph 7(b)(i)), Executive shall become eligible to receive severance under the then current CBS Outdoor severance policy applicable to executives at his
level, subject to the terms of such severance policy (including his execution of a release in favor of CBS Outdoor pursuant to such policy to the extent required). 

(f) If Executive’s employment with CBS Outdoor terminates for any reason, then, unless otherwise determined by CBS’s general counsel
or CBS Outdoor’s general counsel, as applicable, Executive shall automatically be deemed to have resigned at that time from any and all officer or director positions that Executive may have held with CBS Outdoor or CBS or any of their
respective affiliated companies and all board seats or other positions in other entities Executive held on behalf of CBS or CBS Outdoor, including any fiduciary positions (including as a trustee) Executive holds with respect to any employee benefit
plans or trusts established by CBS Outdoor or CBS. Executive agrees that this Agreement shall serve as written notice of resignation in this circumstance. If, however, for any reason this paragraph 7(f) is deemed insufficient to effectuate such
resignation, Executive agrees to execute, upon the request of CBS Outdoor, CBS or any of their respective affiliated companies, any documents or instruments which CBS Outdoor or CBS may deem necessary or desirable to effectuate

  
 - 17 - 

 
such resignation or resignations, and Executive hereby authorizes the Secretary and any Assistant Secretary of CBS Outdoor, CBS or any of their affiliated companies to execute any such documents
or instruments as Executive’s attorney-in-fact. 
 8. CBS Outdoor shall own all right, title and interest for the maximum time period
available under applicable law to the results of Executive’s services and all artistic materials and intellectual properties which are, in whole or in part, created, developed or produced by Executive during the Employment Term and which are
suggested by or related to Executive’s employment hereunder or any activities to which Executive is assigned, and Executive shall not have or claim to have any right, title or interest therein of any kind or nature. Executive hereby undertakes
and covenants to do all such further acts and execute all such further assignments, documents and instruments (including, without limitation, patent and copyright registrations and applications) as CBS Outdoor may from time to time require or
request to effectuate this paragraph 8, and in the event Executive fails to do so within fifteen (15) days of receiving written notice from CBS Outdoor requesting the same, Executive hereby appoints CBS Outdoor to execute such documents and
instruments in its name and on its behalf as its duly authorized attorney and this appointment shall be deemed to be a power coupled with an interest and shall be irrevocable. 

9. Executive agrees that, during the Employment Term and for one (1) year thereafter, Executive shall not, in any communications with the
press or other media or any customer, client or supplier of CBS Outdoor, CBS or any of their respective affiliated companies, criticize, ridicule or make any statement which disparages or is derogatory of CBS Outdoor or CBS or any of their
respective affiliated companies or any of their respective directors, officers or employees. 

  
 - 18 - 

 10. Executive agrees that, while employed hereunder and for one (1) year thereafter,
Executive shall not, directly or indirectly: (i) employ or solicit the employment of any person who is then or has been within six (6) months prior thereto, an employee of CBS Outdoor, CBS or any of their respective affiliated companies;
or (ii) do any act or thing to cause, bring about, or induce any interference with, disturbance to, or interruption of any of the then-existing relationships (whether or not such relationships have been reduced to formal contracts) of CBS
Outdoor, CBS or any of their respective affiliated companies with any customer, employee, consultant or supplier. Should CBS or CBS Outdoor have reason to believe Executive is violating the terms of this Paragraph 10, CBS or CBS Outdoor, as
applicable, may contact any individual(s) necessary to (a) determine the existence of a violation and (b) enforce this Paragraph 10, without being deemed to have violated the confidentiality terms of any written agreement between Executive
and CBS Outdoor or CBS. 
 11. Subject to paragraph 4(b), Executive agrees that Executive’s employment with CBS Outdoor is on an
exclusive basis and that, while Executive is employed by CBS Outdoor, Executive will not engage in any other business activity which is in conflict with Executive’s duties and obligations (including Executive’s commitment of time) under
this Agreement. Executive agrees that, during the Non-Compete Period (as defined below), Executive shall not directly or indirectly engage in or participate as an owner, partner, member, stockholder, officer, employee, director, agent of or
consultant for any business competitive with any business of CBS Outdoor, without the written consent of CBS Outdoor; provided, however, that this provision shall not prevent Executive from investing as less than a one (1%) percent stockholder in
the securities of any company listed on a national securities exchange or quoted on an automated 

  
 - 19 - 

 
quotation system. The Non-Compete Period shall cover the entire Employment Term, provided, however, that, if Executive’s employment terminates on or before the then scheduled end of the
Employment Term, the Non-Compete Period shall terminate on the date that is twelve (12) months after the date on which Executive’s employment is terminated pursuant to paragraph 7(b), 7(d) or 7(e) (which date may occur after expiration of
the scheduled Employment Term, depending on the Executive’s termination date). For purposes of this paragraph 11, “Cause” has the meaning provided in paragraph 7(b)(i). 

12. Executive agrees that during Executive’s employment hereunder and at any time thereafter, (i) Executive shall not use for any purpose
other than the duly authorized business of CBS Outdoor or CBS, or disclose to any third party, any information relating to CBS Outdoor, CBS or any of their respective affiliated companies which is proprietary to CBS Outdoor, CBS or any of their
respective affiliated companies (“Confidential Information”), including any trade secret or any written (including in any electronic form) or oral communication incorporating Confidential Information in any way (except as may be required
by law or in the performance of Executive’s duties under this Agreement consistent with CBS’s and/or CBS Outdoor’s policies); and (ii) Executive will comply with any and all confidentiality obligations of CBS or CBS Outdoor to a third
party, whether arising under a written agreement or otherwise. Information shall not be deemed Confidential Information which (x) is or becomes generally available to the public other than as a result of a disclosure by Executive or at
Executive’s direction or by any other person who directly or indirectly receives such information from Executive, or (y) is or becomes available to Executive on a non-confidential basis from a source which is entitled to disclose it to
Executive. 

  
 - 20 - 

 13. (a) Executive agrees that during the Employment Term and for one (1) year
thereafter and, if longer, during the pendency of any litigation or other proceeding, (x) Executive shall not communicate with anyone (other than Executive’s own attorneys and tax advisors), except to the extent necessary in the
performance of Executive’s duties under this Agreement, with respect to the facts or subject matter of any pending or potential litigation, or regulatory or administrative proceeding involving CBS Outdoor, CBS or any of their respective
affiliated companies, other than any litigation or other proceeding in which Executive is a party-in-opposition, without giving prior notice to CBS or CBS Outdoor, as applicable, or its counsel; and (y) in the event that any other party
attempts to obtain information or documents from Executive with respect to such matters, either through formal legal process such as a subpoena or by informal means such as interviews, Executive shall promptly notify CBS or CBS Outdoor, as
applicable, or its counsel before providing any information or documents. 
 (b) Executive agrees to cooperate with CBS and/or CBS Outdoor
and its attorneys, both during and after the termination of Executive’s employment, in connection with any litigation or other proceeding arising out of or relating to matters in which Executive was involved prior to the termination of
Executive’s employment. Executive’s cooperation shall include, without limitation, providing assistance to CBS and/or CBS Outdoor’s counsel, experts or consultants, and providing truthful testimony in pretrial and trial or hearing
proceedings and any travel related to Executive’s attendance at such proceedings. In the event that Executive’s cooperation is requested after the termination of Executive’s employment, CBS and/or CBS Outdoor will (x) seek to
minimize interruptions to Executive’s schedule to the extent consistent with its interests in the matter; and (y) reimburse Executive for all reasonable and appropriate 

  
 - 21 - 

 
out-of-pocket expenses in a manner consistent with CBS and/or CBS Outdoor policy, but in no event later than December 31 of the year following the year in which Executive incurs the related
expenses. 
 (c) Executive agrees that Executive will not testify voluntarily in any lawsuit or other proceeding which directly or
indirectly involves CBS Outdoor, CBS or any of their respective affiliated companies, or which may create the impression that such testimony is endorsed or approved by CBS Outdoor, CBS or any of their respective affiliated companies, without advance
notice (including the general nature of the testimony) to and, if such testimony is without subpoena or other compulsory legal process the approval of, CBS’s general counsel or CBS Outdoor’s general counsel, as applicable. 

14. CBS Outdoor has entered into this Agreement in order to obtain the benefit of Executive’s unique skills, talent, and experience.
Executive acknowledges and agrees that any violation of paragraphs 4 through 6 or 8 through 13 of this Agreement will result in irreparable damage to CBS and/or CBS Outdoor, and, accordingly, CBS and/or CBS Outdoor may obtain injunctive and other
equitable relief for any breach or threatened breach of such paragraphs, in addition to any other remedies available to CBS and/or CBS Outdoor, and Executive hereby consents and agrees to exclusive personal jurisdiction in any state or federal court
located in the City of New York, Borough of Manhattan. 
 15. Except as provided in paragraph 14 of this Agreement, if any disagreement or
dispute whatsoever shall arise between the parties concerning this Agreement (including the documents referenced herein) or Executive’s employment with CBS Outdoor (a “Matter In Dispute”), the parties hereto agree that such Matter In
Dispute 

  
 - 22 - 

 
shall be privately arbitrated rather than contested in a court of law before a judge or jury. Any and all Matters In Dispute must be brought in the parties’ individual capacities, and not as
a plaintiff or class member in any purported class or representative proceeding. Thus, by agreeing to the terms of this agreement, Executive is hereby waiving any right Executive might otherwise have to litigate a Matter In Dispute as a class or
representative proceeding. Any and all Matters In Dispute shall be submitted to arbitration before JAMS Employment Practice, and a neutral arbitrator will be selected in a manner consistent with JAMS Employment Arbitration Rules (“Rules”).
Such arbitration shall be confidential and private and conducted in accordance with the Rules. Any such arbitration proceeding shall take place in New York City before a single arbitrator (rather than a panel of arbitrators). The parties agree that
the arbitrator shall have no authority to award any punitive or exemplary damages and waive, to the full extent permitted by law, any right to recover such damages in such arbitration. Each party shall bear its respective costs (including
attorney’s fees, and there shall be no award of attorney’s fees). Judgment upon the final award rendered by such arbitrator may be entered in any court having jurisdiction thereof. 

16. Executive represents and warrants: 

(a) that Executive has capacity to enter into this Agreement, 

(b) that Executive has entered into this Agreement voluntarily and with a full understanding of its terms, and 

(c) that Executive is not subject to restrictive covenants or other contractual limitations with any other employer, company, entity or person
that would by breached by Executive becoming a party to this Agreement. 

  
 - 23 - 

 17. This Agreement contains the entire understanding of the parties with respect to the subject
matter thereof, supersedes any and all prior agreements of the parties with respect to the subject matter thereof, and cannot be changed or extended except by a writing signed by both parties hereto. This Agreement shall be binding upon and inure to
the benefit of the parties and their respective legal representatives, executors, heirs, administrators, successors and assigns; provided, however, that Executive shall have no right to assign this Agreement or delegate Executive’s obligations
hereunder. This Agreement and all matters and issues collateral thereto shall be governed by the laws of the State of New York applicable to contracts entered into and performed entirely within the State of New York, with respect to the
determination of any claim, dispute or disagreement, which may arise out of the interpretation, performance or breach of this Agreement. If any provision of this Agreement, as applied to either party or to any circumstance, shall be adjudged by a
court or duly appointed arbitrator to be void or unenforceable, the same shall in no way affect any other provision of this Agreement or the validity or enforceability thereof. 

18. To the extent applicable, it is intended that the compensation arrangements under this Agreement be in full compliance with Code
Section 409A. This Agreement shall be construed in a manner to give effect to such intention. In no event whatsoever (including, but not limited to as a result of this paragraph 16 or otherwise) shall CBS or CBS Outdoor be liable for any tax,
interest or penalties that may be imposed on Executive (or Executive’s beneficiaries, successors or representatives) under Code Section 409A. Neither CBS Outdoor, CBS nor any of their respective affiliates shall have any obligation to
indemnify or otherwise hold Executive harmless from any or all such taxes, interest or penalties, or liability for any damages related thereto. Executive acknowledges that he has been advised to obtain independent legal, tax or other counsel in
connection with Code Section 409A. 

  
 - 24 - 

 19. Notwithstanding any provision herein to the contrary, CBS Outdoor’s obligation to make
the payments provided for in paragraphs 7(c) and 7(d) shall be conditioned on Executive’s execution of an effective release (with all periods for revocation set forth therein having expired), such date the “Release Effective Date,” in
favor of CBS Outdoor, CBS and its affiliated companies in a form substantially similar to that which is set forth in Exhibit A hereto within 45 days following Executive’s termination from Executive’s position; provided, however,
that if, at the time any severance payments are scheduled to be paid to Executive pursuant to paragraph 7(c) or 7(d), as applicable, Executive has not executed a release that has become effective and irrevocable in its entirety, then any such
severance payments shall be held and accumulated without interest, and shall be paid to Executive on the first Regular Payroll Date following the Release Effective Date. Executive’s failure or refusal to sign and deliver the release or
Executive’s revocation of an executed and delivered release in accordance with applicable laws, whether intentionally or unintentionally, will result in the forfeiture of the payments and benefits under paragraph 7(c) or 7(d), as applicable.
Notwithstanding the foregoing, if the 45-day period does not begin and end in the same calendar year, then the Release Effective Date shall be deemed to be the later of (i) the first business day in the year following the year in which
Executive’s position is terminated or (ii) the Release Effective Date (without regard to this proviso). In addition, the payments and benefits described in paragraph 7(c) or 7(d), as applicable, shall immediately cease, and CBS Outdoor
shall have no further obligations to Executive with respect thereto, in the event that Executive materially breaches any provision of paragraphs 4 through 6 and 8 through 13 hereof. 

  
 - 25 - 

 20. All notices or other communications hereunder shall be given in writing and shall be deemed
given if served personally or mailed by registered or certified mail, return receipt requested, to the parties at their addresses above indicated. 

21. This Agreement may be executed in one or more counterparts, including by facsimile, and all of the counterparts shall constitute one fully
executed agreement. The signature of any party to any counterpart shall be deemed a signature to, and may be appended to, any other counterpart. 

IN WITNESS WHEREOF, the parties have executed this Agreement as of November 20, 2013. 

 

			
	CBS Outdoor
		
	By	 	 /s/ Anthony G. Ambrosio 

		 	  

		 	Anthony G. Ambrosio
		 	Executive Vice President,
		 	Human Resources & Administration
		
	By	 	 /s/ Donald R. Shassian

		 	  

		 	Donald R. Shassian

  
 - 26 - 

 EXHIBIT A 

FORM OF RELEASE 

WHEREAS, Donald R. Shassian (hereinafter referred to as “Executive”) is employed by CBS Outdoor
Americas Inc., a Maryland corporation (hereinafter referred to as “Employer”), and is a party to an employment agreement dated as of November    , 2013 (the “Agreement”) which
provides for Executive’s employment with Employer on the terms and conditions specified therein; and 
 WHEREAS, pursuant to
paragraph 19 of the Agreement, Executive has agreed to execute a release substantially similar to the type and nature set forth herein as a condition to his entitlement to certain payments and benefits upon his termination of employment with
Employer; and 
 NOW, THEREFORE. in consideration of the premises and promises herein contained and for other good and valuable
consideration received or to be received by Executive in accordance with the terms of the Agreement, it is agreed as follows: 

1. Release 

(a) Executive acknowledges, understands and agrees that (i) he has no knowledge (actual or otherwise) of any complaint, claim
or action that he may have against Employer, CBS Corporation (“CBS”) and each of their respective owners, stockholders, predecessors, successors, assigns, directors, officers, employees, divisions, subsidiaries, affiliates
(and directors, officers and employees of such companies, divisions. Subsidiaries and affiliates) and all persons acting by, through, under or in concert with any of them (collectively, the “Releasees”), or any of them; (ii)
Executive hereby irrevocably and unconditionally waives, releases, settles (gives up), acquits and forever discharges the Releasees from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages,
actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and costs actually incurred) of any nature whatsoever, known or unknown, suspected or unsuspected, including, but not limited to,
any claims for salary, salary increases, alleged promotions, expanded job responsibilities, constructive discharge, misrepresentation, bonuses, equity awards of any kind, severance payments, unvested retirement benefits, vacation entitlements,
benefits, moving expenses, business expenses, attorneys’ fees, any claims which he may have under any contract or policy (whether such contract or policy is written or oral, express or implied), rights arising out of alleged violations of any
covenant of good faith and fair dealing (express or implied), any tort, any legal restrictions on Employer’s right to terminate employees, and any claims which he may have based upon any Federal, state or other governmental statute, regulation
or ordinance, including, without limitation, Title VII of the Civil Rights Act of 1967, as amended, the Federal Age Discrimination In Employment Act of 1967. as amended (“ADEA”), the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”), the American with Disabilities Act, as amended (“ADA”), the Civil Rights Act of 1991, as amended, the Rehabilitation Act of 1973, as amended, the Older Workers 

  
 - 27 - 

 
Benefit Protection Act, as amended (“OWBPA”), the Worker Adjustment Retraining and Notification Act, as amended (“WARN”), the Fair Labor Standards Act, as amended
(“FLSA”), the Occupational Safety and Health Act of 1970 (“OSHA”), the Family and Medical Leave Act of 1993, as amended (“FMLA”), the New York State Human Rights Law, as amended, the New York Labor Act, as amended, the
New York Equal Pay Law, as amended, the New York Civil Rights Law, as amended, the New York Rights of Persons With Disabilities Law, as amended, and the New York Equal Rights Law, as amended, the Sarbanes-Oxley Act of 2002, as amended
(“SOX”), and Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), that Executive now has, or has ever had, or ever shall have, against each or any of the Releasees, by reason of any and all acts,
omissions, events, circumstances or facts existing or occurring up through the date of Executive’s execution hereof that directly or indirectly arise out of, relate to, or are connected with, Executive’s services to, or employment by
Employer (any of the foregoing being a “Claim” or, collectively, the “Claims”); and (iii) Executive will not now, or in the future, accept any recovery (including monetary damages or any form of
personal relief) in any forum, nor will he pursue or institute any Claim against any of the Releasees. 
 (b) Notwithstanding
the foregoing, Executive has not waived and/or relinquished any rights he may have to file any Claim that cannot be waived and/or relinquished pursuant to applicable laws, including the right to file a charge or participate in any investigation with
the Equal Employment Opportunity Commission or any other governmental or administrative agency that is responsible for enforcing a law on behalf of the government. Executive also acknowledges and understands that because Executive is waiving and
releasing all Claims for monetary damages and any other form of personal relief per paragraph 1(a), Executive may only seek and receive non-personal forms of relief through any such Claim. Moreover, this General Release shall not apply to
(i) any of the obligations of Employer or any other Releasee under the Agreement, or under any benefit plans, contracts, documents or programs described or referenced in the Agreement, (ii) any rights Executive may have to obtain
contribution or indemnity against Employer or any other Releasee pursuant to contract, Employer’s certificate of incorporation and by-laws or otherwise, and (iii) any Claim for reimbursement of ordinary and necessary business expenses
incurred by the Executive during the course of the Executive’s employment. 
 2. Executive understands that he has been given a period
of twenty-one (21) days to review and consider this Release before signing it pursuant to the Age Discrimination in Employment Act of 1967, as amended. Executive further understands that he may use as much of this 21-day period as Executive
wishes prior to signing. 
 3. Executive acknowledges and represents that he understands that he may revoke the Release set forth in
paragraph 1(a), including, the waiver of his rights under the Age Discrimination in Employment Act of 1967, as amended, effectuated in this Release, within seven (7) days of signing this Release. Revocation can be made by delivering a written notice
of revocation to the General Counsel of CBS Corporation, 51 West 52nd Street, New York, New York 10019 and the General Counsel of CBS Outdoor Americas Inc., 405 Lexington Avenue, New York, New
York 10174. For this revocation to be effective, written notice must be received 

  
 - 28 - 

 
by the General Counsels no later than the close of business on the seventh day after Executive signs this Release. If Executive revokes the Release set forth in paragraph 1(a), Employer shall
have no obligations to Executive for the payments and benefits set forth under paragraph 7(d) or 7(e), as applicable, of the Agreement. 

4. Executive represents and acknowledges that in executing this Release he is not relying upon, and has not relied upon, any representation or
statement not set forth herein made by any of the agents, representatives or attorneys of the Releasees with regard to the subject matter, basis or effect of this Release or otherwise. 

5. This Release shall not in any way be construed as an admission by any of the Releasees that any Releasee has acted wrongfully or that
Executive has any rights whatsoever against any of the Releasees except as specifically set forth herein, and each of the Releasees specifically disclaims any liability to any party for any wrongful acts. 

6. It is the desire and intent of the parties hereto that the provisions of this Release be enforced to the fullest extent permissible under
law. Should there be any conflict between any provision hereof and any present or future law, such law shall prevail, but the provisions affected thereby shall be curtailed and limited only to the extent necessary to bring them within the
requirements of law, and the remaining provisions of this Release shall remain in full force and effect and be fully valid and enforceable. 

7. Executive represents and agrees (a) that Executive has, to the extent he desires, discussed all aspects of this Release with his
attorney, (b) that Executive has carefully read and fully understands all of the provisions of this Release, and (c) that Executive is voluntarily executing this Release. 

8. This Release shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to the
conflicts of laws principles thereof or to those of any other jurisdiction which, in either case, could cause the application of the laws of any jurisdiction other than the State of New York. This Release is binding on the successors and assigns of
Executive. 
 PLEASE READ CAREFULLY. THIS RELEASE INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 

This Release is executed as of the    day of            ,
20    . 
  

	
	  
 Donald R. Shassian

  
 - 29 -

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