Document:

Form of Stock Option Agreement

 Exhibit 10.17 
 FORM OF 
 STOCK OPTION AGREEMENT 
 THIS AGREEMENT, dated as of
                         (the “Grant Date”) is made by and between Valcon Acquisition Holding B.V., a private
company with limited liability incorporated under the laws of The Netherlands, having its registered office in Haarlem, The Netherlands (hereinafter referred to as the “Company”), and the individual whose name is set forth on the
signature page hereof, who is an employee of the Company or a Subsidiary of the Company, hereinafter referred to as the “Optionee”. Any capitalized terms herein not otherwise defined in Article I shall have the meaning set forth in
the Plan (as hereinafter defined). 
 WHEREAS, the Company wishes to carry out the Plan, the terms of which are hereby incorporated by
reference and made a part of this Agreement; and 
 WHEREAS, the Committee, charged with administration of the Plan, has determined that it
would be to the advantage and best interest of the Company and its shareholders to grant the Option provided for herein to the Optionee as an incentive for increased efforts during his term of office with the Company or its Subsidiaries, and has
advised the Company thereof and instructed the undersigned officers to issue said Option; 
 NOW, THEREFORE, in consideration of the mutual
covenants herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto do hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 Whenever the following terms are used in this Agreement, they shall have the meaning specified in the Plan or below unless the context clearly indicates to the contrary. 
 Section 1.1. - Cause 
 “Cause”
shall mean “Cause” as such term may be defined in any employment, change in control or severance agreement between the Optionee and the Company or any of its Subsidiaries (the “Employment Agreement”), or, if there is no
such Employment Agreement or if no such term is defined therein, “Cause” shall mean: (i) the Optionee’s willful misconduct with regard to the Company; (ii) the Optionee is indicted for, convicted of, or pleading nolo
contendere to, a felony, a misdemeanor involving moral turpitude, or an intentional crime involving material dishonesty other than, in any case, vicarious liability; (iii) the Optionee’s conduct involving the use of illegal drugs in
the workplace; (iv) the Optionee’s failure to attempt in good faith to follow a lawful directive of his or her supervisor within ten (10) days after written notice of such failure; and/or (v) the Optionee’s breach of the
Optionee’s Management Stockholders’ Agreement or the Optionee’s other agreements with the Company, which continues beyond ten (10) days after written demand for substantial performance is delivered to the Optionee by the Company
(to the extent that, in the reasonable judgment of the Board, such breach can be cured by the Optionee). 

 Section 1.2. - Fiscal Year 
 “Fiscal Year” shall mean each fiscal year of the Company (which, for the avoidance of doubt, begins on January 1 and ends on
December 31 of any given calendar year). 
 Section 1.3. - Good Reason 
 “Good Reason” shall mean “Good Reason” as such term is defined in the Employment Agreement, or if there is no such Employment
Agreement or if such term is not defined therein, “Good Reason” shall mean, without the Optionee’s consent, (i) a reduction in Optionee’s annual base salary or target annual incentive under the Annual Incentive Plan
(“target AIP”) (excluding any reduction in Optionee’s base salary and/or target AIP that is part of a plan to reduce compensation of comparably situated employees of the Company generally; provided that such reduction in
Optionee’s base salary and/or target AIP, as applicable, is not greater than ten percent (10%) of such base salary and target AIP); (ii) a material diminution in the nature or scope of the Optionee’s responsibilities, duties or
authority (other than any such diminution which may occur by reason of the current corporate restructuring programs); or (iii) the relocation by the Company of the Optionee’s primary place of employment with the Company to a location more
than fifty (50) miles outside of the Optionee’s current principal place of employment (which shall not be deemed to occur due to a requirement that the Optionee travel in connection with the performance of his or her duties); in any case
of the foregoing, that remains uncured after ten (10) business days after the Optionee has provided the Company written notice that the Optionee believes in good faith that such event giving rise to such claim of Good Reason has occurred, so
long as such notice is provided within ninety (90) days after such event has first occurred. 
 Section 1.4. - Investor Return

 “Investor Return” shall mean, on any given date, the aggregate amount of cash proceeds (including the receipt of any dividends
or other distributions) received by the Investors and Affiliates in respect of their aggregate direct and indirect equity investment in the Company (excluding, for the avoidance of doubt, debt investment). 
 Section 1.5. - Option 
 “Option”
shall mean the aggregate of the Time Option and the Performance Option granted under Section 2.1 of this Agreement. 
 Section 1.6. -
Permanent Disability 
 “Permanent Disability” shall mean “Disability” as such term is defined in the Employment
Agreement, or if there is no such Employment Agreement or if such term is not defined therein, “Permanent Disability” shall have occurred when the Optionee has been unable to perform his material duties because of physical or mental
incapacity for a period of at least 180 consecutive days, as determined by a medical doctor mutually agreed upon by the parties hereto. Any question as to the existence of the Permanent Disability of the Optionee as to which the Optionee and the
Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to the Optionee and the Company. If the Optionee 

  

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and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who
shall make such determination in writing. The determination of Permanent Disability made in writing to the Company and the Optionee shall be final and conclusive for all purposes of this Agreement (such inability is hereinafter referred to as
“Permanent Disability” or being “Permanently Disabled”). 
 Section 1.7. - Performance Option 
 “Performance Option” shall mean the right and option to acquire, on the terms and conditions set forth in Section 3.1(a)(ii) and (iii),
3.1(b)(ii) and 3.1(c)(ii) and (iii), all or any part of an aggregate of the number of shares of Common Stock, as shall be evidenced by entry in the Company’s shareholder register, set forth on the signature page of this Agreement. 

Section 1.8. - Time Option 
 “Time
Option” shall mean the right and option to acquire, on the terms and conditions set forth in Section 3.1(a)(i), 3.1(b)(i) and 3.1(c)(ii), all or any part of an aggregate of the number of shares of Common Stock, as shall be evidenced by
entry in the Company’s shareholder register, set forth on the signature page of this Agreement. 
 ARTICLE II 
 GRANT OF OPTIONS 
 Section 2.1. - Grant
of Options 
 For good and valuable consideration, on and as of the date hereof the Company irrevocably grants to the Optionee (i) a
Time Option upon the terms and conditions set forth in this Agreement and (ii) a Performance Option upon the terms and conditions set forth in this Agreement. The Option shall consist of a Time Option and a Performance Option. 
 Section 2.2. - Exercise Price 
 Subject to
Section 2.4, the exercise prices of the shares of Common Stock covered by the Time Option and Performance Option shall be as set forth on the signature page of this Agreement. 
 Section 2.3. - No Guarantee of Employment 
 Nothing in this Agreement or in the Plan shall
confer upon the Optionee any right to continue in the employ of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which are hereby expressly reserved, to terminate the
employment of the Optionee at any time for any reason whatsoever, with or without cause, subject to the applicable provisions of, if any, the Optionee’s employment agreement with the Company or its Subsidiaries or offer letter provided by the
Company or its Subsidiaries to the Optionee. 
  

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 Section 2.4. - Adjustments to Option 
 The Option shall be adjusted pursuant to Sections 8 or 9 of the Plan, as applicable. Any such adjustment made in good faith thereunder shall be final and
binding upon the Optionee, the Company and all other interested persons. 
 ARTICLE III 
 PERIOD OF EXERCISABILITY 
 Section 3.1. -
Commencement of Exercisability 
 (a) So long as the Optionee continues to be employed by the Company or any of its Subsidiaries, the
Option shall become exercisable pursuant to the following schedules: 
 (i) Time Option. Subject to clause (b)(i)
below, the Time Option shall become vested and exercisable as follows: (x) with respect to 5% of the shares of Common Stock underlying such Time Option, on the Grant Date; and (y) with respect to 19% of the shares of Common Stock
underlying such Time Option, on each of the five anniversaries of December 31, 2006. 
 (ii) Performance Option.
The Performance Option shall become vested and exercisable as follows: (x) with respect to 5% of the shares of Common Stock underlying such Performance Option, on the Grant Date; and (y) with respect to 19% of the shares of Common Stock
underlying such Performance Options, for each of the five Fiscal Years ending after the Grant Date, starting with the 2007 Fiscal Year, on each of the five anniversaries of December 31, 2006, if and only if the Company achieves the
Annual Performance Target set forth on Schedule A attached hereto for each such Fiscal Year. 
 (iii) In the event that
the Annual Performance Target is not achieved in a particular Fiscal Year identified on Schedule A (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal
Year satisfies the Cumulative Performance Target (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable
in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Target is achieved. 
 (b) Notwithstanding the foregoing, so long as the Optionee continues to be employed by the Company or any of its Subsidiaries through the occurrence of a Change in Control: 
 (i) the Time Option shall become immediately exercisable as to 100% of the shares of Common Stock underlying such Time Option immediately
prior to a Change in Control (but only to the extent such Option has not otherwise terminated or become exercisable), and 
  

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 (ii) the Performance Option shall become immediately exercisable as to 100% of the shares
of Common Stock underlying such Performance Option immediately prior to a Change in Control (but only to the extent such Option has not otherwise terminated or become exercisable) only if, as a result of the Change in Control, the Investor Return
equals or exceeds the Applicable Multiple (as set forth on Schedule B for the applicable Fiscal Year in which the Change in Control occurs) of the Base Price. 
 (c) Upon a termination of the Optionee’s employment for any reason (other than for Cause by the Company or without Good Reason by the Optionee but which shall include, for the avoidance of doubt, due to the
Optionee’s death or Permanent Disability): 
 (i) a pro-rata portion of the installment of the Time Option that would,
but for such termination, be scheduled to vest and become exercisable on December 31 of the Fiscal Year in which the termination occurs will become vested and exercisable upon such termination, with such pro-rata portion determined based on the
number of days the Optionee was employed by the Company or any of its Subsidiaries during such Fiscal Year, relative to the number of days of such full Fiscal Year; and 
 (ii) occurring within the last six months of any Fiscal Year, if the Annual Performance Target for such year is achieved, then a pro rata
portion of the installment of the Performance Option that would, but for such termination, be scheduled to vest and become exercisable on December 31 of the Fiscal Year in which the termination occurs will become vested and exercisable upon
such December 31, with such pro-rata portion determined based on the number of days the Optionee was employed by the Company or any of its Subsidiaries during such Fiscal Year, relative to the number of days of such full Fiscal Year (such
vesting event, a “Special Termination Vesting Event”). 
 (iii) Notwithstanding the foregoing, in the event it is
determined by the Company (in consultation with its auditors) that the provisions of Section 3.1(c)(ii) results in the Option (or any portion hereof) being classified as a liability as contemplated by FASB Statement No. 123R, Share-Based
Payment, including any amendments and interpretations thereto, then Section 3.1(c)(ii) shall be of no further force and effect, and instead the following provision shall apply: Upon a termination of the Optionee’s employment for any reason
(other than for Cause by the Company or without Good Reason by the Optionee but which shall include, for the avoidance of doubt, due to the Optionee’s death or Permanent Disability) occurring within the last six months of any Fiscal Year, a
Special Termination Vesting Event shall occur if and only if the Performance Target for such Fiscal Year is met, based on the EBITDA (as such term is defined in Schedule A) achieved for the twelve month trailing period ending the month end
prior to the month in which the termination event occurs. 
 (d) Notwithstanding the foregoing, no Option shall become exercisable as to any
additional shares of Common Stock (which do not otherwise become exercisable in accordance with Section 3.1(a), (b) or (c) above) following the termination of employment of the Optionee for any reason and any Option, which is
unexercisable as of the Optionee’s termination of employment, shall be immediately cancelled without payment therefor. 
  

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 Section 3.2. - Expiration of Option 
 Except as otherwise provided in Section 5 or 6 of the Management Stockholder’s Agreement, the Optionee may not exercise the Option to any
extent after the first to occur of the following events: 
 (a) The tenth anniversary of the Grant Date, provided that the Optionee remains
employed by the Company or any of its Subsidiaries through such date; 
 (b) Six months after the Optionee is terminated by the Company or
any of its Subsidiaries without Cause or the Optionee terminates employment with Good Reason (unless earlier terminated as provided in Section 3.2(e) below) (or, if later, and solely with respect to the installment of Performance Options, if
any, that become exercisable upon a Special Termination Vesting Event, thirty (30) days after the date that such installment becomes exercisable); 
 (c) The first anniversary of the date of the Optionee’s termination of employment, if the Optionee’s employment is terminated by reason of death or Permanent Disability (unless earlier terminated as provided
in Section 3.2(e) below); 
 (d) Immediately upon the date of the Optionee’s termination of employment by the Company or its
Subsidiaries for Cause or by the Optionee without Good Reason (other than due to death or Permanent Disability); 
 (e) The date the Option
is terminated pursuant to Section 4 of the Management Stockholder’s Agreement; or 
 (f) At the discretion of the Company, if the
Committee so determines pursuant to Section 9 of the Plan, the effective date of a merger, consolidation or other capital change or transaction of the Company that is a Change in Control, in which case, prior to such effective date, the Company
shall provide no less than ten (10) days prior written notice to the Optionee that the Company intends to exercise its discretion and provide either (x) an opportunity for the Optionee to exercise his Options (whether or not then vested),
or (y) make payment to the Optionee in respect of the termination of his Options upon such date. 
 ARTICLE IV 
 EXERCISE OF OPTION 
 Section 4.1. -
Person Eligible to Exercise 
 Except as otherwise provided in the Management Stockholder’s Agreement, during the lifetime of the
Optionee, only he may exercise an Option or any portion thereof. After the death of the Optionee, any exercisable portion of an Option may, prior to the time when an Option becomes unexercisable under Section 3.2, be exercised by his personal
representative or by any person empowered to do so under the Optionee’s will or under the then applicable laws of descent and distribution. 
  

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 Section 4.2. - Partial Exercise 
 Any exercisable portion of an Option or the entire Option, if then wholly exercisable, may be exercised in whole or in part at any time prior to the time
when the Option or portion thereof becomes unexercisable under Section 3.2; provided, however, that any partial exercise shall be for whole shares of Common Stock only. 
 Section 4.3. - Manner of Exercise 
 An
Option, or any exercisable portion thereof, may be exercised solely by delivering to the General Counsel of the Company or his office all of the following prior to the time when the Option or such portion becomes unexercisable under
Section 3.2: 
 (a) Notice in writing signed by the Optionee or the other person then entitled to exercise the Option or portion
thereof, stating that the Option or portion thereof is thereby exercised, such notice complying with all applicable rules established by the Committee; 
 (b)(i) Full payment (in cash or by check or by a combination thereof) for the shares with respect to which such Option or portion thereof is exercised or (ii) indication that the Optionee elects to have the
number of Shares that would otherwise be issued to the Optionee reduced by a number of Shares having an equivalent Fair Market Value to the payment that would otherwise be made by Optionee to the Company pursuant to clause (i) of this
subsection (b); 
 (c) At any time that the Common Stock is not publicly traded on an established securities market, a bona fide written
representation and agreement, in a form satisfactory to the Committee, signed by the Optionee or other person then entitled to exercise such Option or portion thereof, stating that the shares of Common Stock are being acquired for his own account,
for investment and without any present intention of distributing or reselling said shares or any of them except as may be permitted under the Securities Act of 1933, as amended (the “Act”), and then applicable rules and regulations
thereunder, and that the Optionee or other person then entitled to exercise such Option or portion thereof will indemnify the Company against and hold it free and harmless from any loss, damage, expense or liability resulting to the Company if any
sale or distribution of the shares by such person is contrary to the representation and agreement referred to above; provided, however, that the Committee may, in its reasonable discretion, take whatever additional actions it deems
reasonably necessary to ensure the observance and performance of such representation and agreement and to effect compliance with the Act and any other federal, provincial or state securities laws or regulations; 
 (d) Full payment to the Company (in cash or by check or by a combination thereof) of all amounts which, under applicable law, it is required to withhold
upon exercise of the Option; and 
 (e) In the event the Option or portion thereof shall be exercised pursuant to Section 4.1 by any
person or persons other than the Optionee, appropriate proof of the right of such person or persons to exercise the option. 
  

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 Without limiting the generality of the foregoing, the Committee may require an opinion of counsel acceptable to it to the
effect that any subsequent transfer of shares acquired on exercise of an Option does not violate the Act. If the Optionee is a resident of the United States, the written representation and agreement referred to in subsection (c) above shall,
however, not be required if the shares to be issued pursuant to such exercise have been registered under the Act, and such registration is then effective in respect of such shares. 
 Section 4.4. - Conditions to Issuance of Stock 
 The shares of stock issuable upon the
exercise of an Option, or any portion thereof, shall not be required to be so physically issued to the Optionee. For the avoidance of doubt, shares shall be deemed to have been issued when evidenced by entry in the Company’s shareholder
register. Such shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificate or certificates for shares of stock acquired upon the exercise of an Option or portion thereof prior to fulfillment of
all of the following conditions: 
 (a) The obtaining of approval or other clearance from any state, provincial or federal governmental
agency which the Committee shall, in its reasonable and good faith discretion, determine to be necessary or advisable (and the Company and the Optionee shall each use reasonable efforts to obtain all such clearances and approvals as soon as
reasonably practicable); 
 (b) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from
time to time establish for reasons of administrative convenience or as may otherwise be required by applicable law; and 
 (c) The execution
by the Optionee of a Sale Participation Agreement with Luxco (a “Sale Participation Agreement”) and a Management Stockholder’s Agreement. 
 Section 4.5. - Rights as Stockholder 
 The holder of an Option shall not be, nor have any of the rights or
privileges of, a stockholder of the Company in respect of any shares he may be issued upon the exercise of the Option or any portion thereof unless and until such shares shall have been issued as evidenced by entry in the Company’s shareholder
register upon satisfaction of the conditions set forth in Section 4.4. 
 ARTICLE V 
 MISCELLANEOUS 
 Section 5.1. -
Administration 
 The Committee shall have the power to interpret the Plan and this Agreement and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Committee in good faith shall be final and

  

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binding upon the Optionee, the Company and all other interested persons. No member of the Committee shall be personally liable for any action, determination
or interpretation made in good faith with respect to the Plan or the Option. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee under the Plan and this Agreement.

 Section 5.2. - Option Not Transferable 
 Subject to applicable law to the contrary, neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee or his successors in interest or
shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any
other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that this Section 5.2 shall not prevent transfers by will or by the applicable laws
of descent and distribution or to a partnership, limited liability company, corporation, trust or custodianship, the beneficiaries of which may include only the Optionee, his spouse (or ex-spouse) or his lineal descendants (including adopted
children) or, if at any time after any such transfer there shall be no then living spouse or lineal descendants, then to the ultimate beneficiaries of any such trust or to the estate of a deceased beneficiary. 
 Section 5.3. - Notices  
 Any notice to be
given under the terms of this Agreement to the Company shall be addressed to the Company in care of its General Counsel, and any notice to be given to the Optionee shall be addressed to him at the address given beneath his signature hereto. By a
notice given pursuant to this Section 5.3, either party may hereafter designate a different address for notices to be given to it or him. Any notice which is required to be given to the Optionee, shall, if the Optionee is then deceased, be
given to the Optionee’s personal representative if such representative has previously informed the Company of his status and address by written notice under this Section 5.3. Any notice shall have been deemed duly given (i) upon
electronic confirmation of facsimile, (ii) one business day following the date sent when sent by overnight delivery and (iii) five (5) business days following the date mailed when mailed by registered or certified mail return receipt
requested and postage prepaid, in each case as follows. 
 Section 5.4. - Titles; Pronouns 
 Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. The masculine
pronoun shall include the feminine and neuter, and the singular the plural, where the context so indicates. 
 Section 5.5. - Applicability of
Plan and Management Stockholder’s Agreement 
 The Option and the shares of Common Stock issued to the Optionee upon exercise of the
Option shall be subject to all of the terms and provisions of the Plan, the Management Stockholder’s Agreement and the Sale Participation Agreement, to the extent applicable to the Option and such shares. In the event of any conflict between
this Agreement 

  

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and the Plan, the terms of the Plan shall control. In the event of any conflict between this Agreement or the Plan and the Management Stockholder’s
Agreement, the terms of the Management Stockholder’s Agreement shall control. 
 Section 5.6. - Amendment 
 This Agreement may be amended only by a writing executed by the parties hereto, which specifically states that it is amending this Agreement. 

Section 5.7. - Governing Law 
 The laws
of the State of New York shall govern the interpretation, validity and performance of the terms of this Agreement, except to the extent that the issue or transfer of Stock shall be subject to mandatory provisions of the laws of The Netherlands.

 Section 5.8. - Arbitration 
 In the event of any controversy among the parties hereto arising out of, or relating to, this Agreement which cannot be settled amicably by the parties, such controversy shall be finally, exclusively and conclusively settled by mandatory
arbitration conducted expeditiously in accordance with the American Arbitration Association rules, by a single independent arbitrator. Such arbitration process shall take place within the Borough of Manhattan, in the City of New York, New York. The
decision of the arbitrator shall be final and binding upon all parties hereto and shall be rendered pursuant to a written decision, which contains a detailed recital of the arbitrator’s reasoning. Judgment upon the award rendered may be entered
in any court having jurisdiction thereof. Each party shall bear its own legal fees and expenses. Notwithstanding anything herein to the contrary, if the Employment Agreement contains a similar provision relating to arbitration and/or dispute
resolution, such provision in the Employment Agreement shall govern any controversy hereunder. 
 Section 5.9. - Code Section 409A  

If any payments of money, delivery of shares of Common Stock or other benefits due to the Participant hereunder could cause the application of an accelerated or
additional tax under Section 409A of the Code, such payments, delivery of shares or other benefits shall be deferred if deferral will make such payment, delivery of shares or other benefits compliant under Section 409A of the Code,
otherwise such payment, delivery of shares or other benefits shall be restructured, to the extent possible, in a manner, determined by the Company and reasonably acceptable to the Participant, that does not cause such an accelerated or additional
tax. 
 Section 5.10. - Counterparts 
 This
Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
  

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	VALCON ACQUISITION HOLDING B.V.
		
	By:	 	 
		
	Its:	 	 

  

	
	OPTIONEE:
	
	  
	[NAME]
	
	Address:
	
	 
	
	 

 Aggregate number of shares of Common Stock 
 for which the Time Option granted hereunder 
 is exercisable (100% of number of shares) at an 
 exercise price per share equal to USD $10.00  
 (“Base
Price”): 
 Aggregate number of shares of Common Stock 
 for which the Time Option granted hereunder is 
 exercisable (100% of number of shares) at an 
 exercise price per share equal to 
 USD $20.00: 
 Aggregate number of shares of Common Stock 
 for which the Performance
Option 
 granted hereunder is exercisable (100% of the 
 number of shares) at an exercise price per share 
 equal USD $10.00: 
 Aggregate number of shares of Common Stock 
 for which the Performance Option 
 granted hereunder is exercisable (100% of 
 number of shares) at an exercise
price 
 equal to USD $20.00: 
 [SIGNATURE PAGE OF
STOCK OPTION AGREEMENT] 

 Schedule A 
 The Annual Performance Targets are based on the Company’s achievement of the following EBITDA targets for the following Fiscal Years: 
  

								
	 Fiscal Year
	  	Annual Performance Target	 	Cumulative Performance Target	 	 	 
		  	(EBITDA in millions)	 	(EBITDA in millions	)	 	
				
	 2007
	  	$1133	 	$2091	 	 	
				
	 2008
	  	$1355	 	$3446	 	 	
				
	 2009
	  	$1516	 	$4962	 	 	
				
	 2010
	  	$1663	 	$6625	 	 	
				
	 2011
	  	$1825	 	$8450	 	 	

 “EBITDA” shall mean earnings before interest, taxes, depreciation and amortization plus
transaction, management and/or similar fees paid to the Investors and/or their Affiliates. The Board shall, fairly and appropriately, adjust the calculation of EBITDA to reflect, to the extent not contemplated in the management plan, the following:
material acquisitions, material divestitures, extraordinary corporate transactions (which shall mean spin-off, share combination, recapitalization, liquidation, dissolution, reorganization, merger, amalgamation, combination, consolidation,
Change in Control, payment of a dividend (other than a cash dividend paid as part of a regular dividend program), the sale of all of substantially all of the assets of the Company or other similar transaction or occurrence which
affects the equity securities of the Company or the value thereof), extraordinary capital investment programs in excess of $25 million and not included in the BAU Capital Budget, any change required by GAAP relating to share-based
compensation or for other changes in GAAP promulgated by accounting standard setters that, in each case, the Board in its good faith judgment determines require adjustment of EBITDA. The Board’s determination of such adjustment shall be based
on the Company’s accounting as set forth in its books and records and on the financial plan of the Company pursuant to which the Annual Performance Targets were originally established. 
 If the Company makes any material acquisition in any year, the Annual Performance Target for such year and Cumulative Performance Target for such year
and subsequent years will be adjusted, fairly and appropriately, by the amount of EBITDA in the plan for the target presented to the Board at the time the acquisition is approved by the Board, in its good faith judgment. Annual Performance Targets
and Cumulative Performance Targets will also be fairly and appropriately adjusted by the Board, in its good faith judgment, to the extent not contemplated in the plan for the following: any material divestitures, extraordinary corporate 

 Schedule B 
 Applicable Multiple shall be determined in accordance with the following table: 
  

			
	 2007
	  	2.74
	 2008
	  	2.72
	 2009
	  	2.70
	 2010
	  	2.67
	 2011
	  	2.64
	 2012
	  	2.61
	 2013
	  	2.58
	 2014
	  	2.54
	 2015
	  	2.50
	 2016
	  	2.46
	 2017
	  	2.41
	 2018
	  	2.35
	 2019
	  	2.29
	 2020
	  	2.23
	 2021
	  	2.16
	 2022
	  	2.08
	 2023
	  	1.99
	 2024
	  	1.89
	 2025
	  	1.79Form of Offer Letter (James W. Cuminale)

 Exhibit 10.18 
 

 
 David L. Calhoun 
 Chairman & Chief Executive Officer 
 October 24, 2006 
 James W. Cuminale 
 [ADDRESS] 
 Dear Jim: 
 I am pleased to confirm our employment offer to you for the
position of General Counsel, VNU. Effective date of employment will be November 13, 2006. In this role, you will be based in our New York office and will report to me. 
 In connection with your position, your annualized base salary will be $500,000, payable in bi-weekly installments of $19,230.78. Your base salary will be reviewed annually along with other VNU executives. 

Your 2006 Annual Incentive Plan (AIP) target will be $500,000. This amount will be pro-rated for performance year 2006. AIP awards are expected to be made in March
2007. 
 You will be eligible to participate in the VNU Deferred Compensation Plan. This plan allows you to make tax-deferred deductions from your base
salary and annual incentive. You may direct these deductions to be invested in a series of mutual funds and elect distributions of these monies either during your employment with VNU or after your employment ends. We will provide you with details of
the plan and enrollment materials on your start date and you will have 30 days to enroll for 2006-relaled compensation. 
 VNU offers a comprehensive
benefits program, which is comprised of two components: Protecting Today and Building for Tomorrow. 
  

	 	•	 	 Insurance benefits – Medical, dental, group life insurance, long-term disability, short-term disability/sick leave and legal services.

  

	 	•	 	 Retirement savings — (401 (k) plan. 

 As a
member of the senior management team, you have the opportunity to make a purchase of common stock having an equity value of $3,000,000 (300,000 shares with an exercise price of $10 per share). As a result of this personal investment, you will
receive $8,000,000 of equity within the Company, comprised of 600,000 stock options at an exercise price of $10 per option and 100,000 stock options at an exercise price of $20 per option. Attached please find the material governance terms for
equity participation. 
 770 Broadway, New York, NY 10003-9595 
 Telephone 646-654-5017  •  Fax 646-654-5099  •  email: dcalhoun@vnuinc.com 

 You will also be covered by VNU’s Executive Severance Plan. The plan provides for separation payments of two years
of salary, plus a pro-rated annual incentive, and benefits continuation for up to 24 months, if you are terminated from VNU without cause, including in case of a change in control. 
 You will be eligible for reimbursement of up to $15,000 annually for financial planning fees. Additionally, you will be eligible for reimbursement for expenses relating to an annual executive physical of up to $2,500
annually. Finally, you are eligible for an annual car allowance of $15,600, or a leased car of up to $15,600 annual equivalent value. 
 Four (4) weeks
of annual vacation are also being provided. 
 This employment is on an “at will” basis. In addition, The Immigration Reform and Control Act of 1986
requires employers to verily that all associates are legally authorized to work in the United States. You will be required to complete and return an I-9 form. 
 Jim, I look forward to you joining the executive team at VNU. I am confident that VNU has very strong assets and will develop very positively over time. 
  

	
	Sincerely,
	
	  
	David Calhoun
	Chairman & CEO, VNU

  

	CC:	Greg Anderson, EVP HR 

  

			
	Date Accepted: 10/26/06
		
	Signature:	 	 

 revised on October 24, 2006 to reflect official start date, the adjustment to base salary and annual bonus
target, and the increased personal investment into equity.

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