SEC Contract Filing

Filing Date: 2015-11-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>ex105q31510q.htm
<DESCRIPTION>EX-10.5
<TEXT>
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<a name="s0a26187598d94d368dc24d7deda994a5"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.5</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ASCENT CAPITAL GROUP, INC.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">2015 OMNIBUS INCENTIVE PLAN</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PERFORMANCE-BASED RESTRICTED STOCK UNITS AWARD AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THIS PERFORMANCE-BASED RESTRICTED STOCK UNITS AWARD AGREEMENT </font><font style="font-family:inherit;font-size:12pt;">(this &#8220;Agreement&#8221;) is made as of June 22, 2015 (the &#8220;Grant Date&#8221;), by and between ASCENT CAPITAL GROUP, INC., a Delaware corporation (the &#8220;Company&#8221;), and the person signing as &#8220;Grantee&#8221; on the signature page hereof (the &#8220;Grantee&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Company has adopted the Ascent Capital Group, Inc. 2015 Omnibus Incentive Plan (as has been or may hereafter be amended, the &#8220;Plan&#8221;), a copy of which is attached hereto as Exhibit A and by this reference made a part hereof, for the benefit of eligible employees of the Company and its Subsidiaries. Capitalized terms used and not otherwise defined in this Agreement will have the meanings ascribed to them in the Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In consideration of the Grantee&#8217;s entry into a four (4) year extension of his employment agreement (the &#8220;Employment Agreement&#8221;) with the Company, the Compensation Committee appointed by the Board of Directors of the Company (the &#8220;Committee&#8221;) has determined that it would be in the interest of the Company and its stockholders to enter into an amendment to the Grantee&#8217;s employment agreement (the &#8220;Amended Employment Agreement&#8221;) and, the Committee, appointed by the Board of Directors of the Company pursuant to Section 3.1 of the Plan to administer the Plan, has also determined that it would be in the interest of the Company and its stockholders to award restricted stock units to the Grantee, subject to the conditions and restrictions set forth herein and in the Plan, in order to provide the Grantee with additional remuneration for services rendered, to encourage the Grantee to enter into the Amended Employment Agreement and to remain in the employ of the Company or its Subsidiaries and to increase the Grantee&#8217;s personal interest in the continued success and progress of the Company and its Subsidiaries.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Company and the Grantee therefore agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;font-weight:bold;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Definitions</font><font style="font-family:inherit;font-size:12pt;">. The following terms, when used in this Agreement, have the following meanings:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;2015 Vesting Cycle&#8221; means the nine (9) month period beginning on May 1, 2015 and ending on January 31, 2016. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;2016 Vesting Cycle&#8221; means the twelve (12) month period beginning on January 1, 2016.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;2017 Vesting Cycle&#8221; means the twelve (12) month period beginning on January 1, 2017.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;Accelerated Restricted Stock Units&#8221; has the meaning specified in Section 6 of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;Cause&#8221; has the meaning specified in the Amended Employment Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:4