SEC Contract Filing

Filing Date: 2019-06-07

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d747261dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CLEAR CHANNEL OUTDOOR HOLDINGS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2012 AMENDED AND RESTATED STOCK INCENTIVE PLAN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>STOCK OPTION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">THIS STOCK OPTION AGREEMENT (the &#147;<U>Agreement</U>&#148;), made as of this<B> </B>3rd<B> </B>day of June, 2019 (the &#147;<U>Grant
Date</U>&#148;) by and between Clear Channel Outdoor Holdings, Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;), and Christopher William Eccleshare (the &#147;<U>Optionee</U>&#148;), evidences the grant by the Company of an Option to
purchase a certain number of shares of the Company&#146;s Class&nbsp;A common stock, $.01 par value (the &#147;<U>Common Stock</U>&#148;), to the Optionee on such date and the Optionee&#146;s acceptance of this Option (as defined below) in
accordance with the provisions of the Clear Channel Outdoor Holdings, Inc. 2012 Amended and Restated Stock Incentive Plan, as it may be amended from time to time (the &#147;<U>Plan</U>&#148;). All capitalized terms not defined herein shall have the
meaning ascribed to them as set forth in the Plan. The Company and the Optionee agree as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Grant of Option</U>. Subject to the terms and conditions set forth herein and in the Plan, the Company
hereby grants to the Optionee an option (this &#147;<U>Option</U>&#148;) to purchase 2,189,781 shares of Common Stock (the &#147;<U>Option Shares</U>&#148;) from the Company at the price per share of $5.11 (the &#147;<U>Option Price</U>&#148;).
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Limitations on Exercise of Option</U>. Except as otherwise provided in this Agreement, this Option will vest
and become exercisable with respect to <FONT STYLE="white-space:nowrap">one-third</FONT> (1/3) of the shares of Common Stock covered hereby on each of December&nbsp;31, 2019, December&nbsp;31, 2020, and December&nbsp;31, 2021 (each a
&#147;<U>Vesting Date</U>&#148;); <U>provided,</U> <U>that</U>, the Optionee is still employed or performing services for the Company on each such Vesting Date, subject to the provisions of Section&nbsp;8 of that certain Employment Agreement between
the Company and the Grantee, dated March&nbsp;4, 2019 (the &#147;<U>Employment Agreement</U>&#148;). </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Term of this Option</U>. Unless sooner terminated in accordance herewith or in the Plan, this Option shall
expire on the tenth anniversary of the Grant Date. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Method of Exercise</U>. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Optionee may exercise this Option, from time to time, to the extent then exercisable, by contacting the
Plan administrator designated by the Company (the &#147;<U>Administrator</U>&#148;) and following the procedures established by the Administrator. The Option Price of this Option may be paid in cash or by certified or bank check or in any other
manner the Compensation Committee of the Company&#146;s Board of Directors (the &#147;<U>Committee&#148;</U>), in its d