Amendment No. 1 to Viacom Inc. 2011 RSU Plan for Outside Directors (as Amended and Restated November 13, 2013)
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Summary
This amendment updates the Viacom Inc. 2011 Restricted Share Unit (RSU) Plan for Outside Directors. Effective January 16, 2014, it changes how annual RSU grants are calculated for outside directors. Starting January 31, 2014, and each year after, each outside director will automatically receive RSUs valued at $175,000, with the number of units based on the fair market value of Viacom's Class B Common Stock on the grant date. The amendment clarifies the grant process and applies until the plan terminates.
EX-10.4 5 via-20131231x10qexhibit104.htm AMEND. NO. 1, DATED JAN 16, 2014 VIACOM INC 2011 RSU PLAN FOR OUTSIDE DIRECTORS VIA-2013.12.31-10Q Exhibit 10.4
Exhibit 10.4
AMENDMENT NO. 1
TO THE VIACOM INC. 2011 RSU PLAN FOR OUTSIDE DIRECTORS,
AS AMENDED AND RESTATED AS OF NOVEMBER 13, 2013
Effective as of January 16, 2014, the Viacom Inc. RSU Plan for Outside Directors, as amended and restated as of November 13, 2013, shall be amended as follows:
1. Section 2.1(a) is amended and restated in its entirety as follows:
Section 2.1 Grants of Restricted Share Units; One-Time Settlement Election.
(a) Beginning on January 31st of 2014 and on January 31st of each subsequent year until the Plan terminates in accordance with the terms hereof, each Outside Director shall automatically be granted a number of Director RSUs determined by dividing (i) $175,000 by (ii) the Fair Market Value of one share of Class B Common Stock on the date of grant (an “Annual RSU Grant”).
