EX-10.5
MSGS Spinco, Inc.
***2026 Stock Plan For Non-Employee Directors ***
1. Purpose.** **The purposes of the 2026 Stock Plan for Non-Employee Directors are to attract and retain individuals who are not employees of the Company as members of the Board of Directors, by encouraging them to acquire a proprietary interest in the Company which is parallel to that of the stockholders of the Company.
2. Definitions.** **The following terms shall have the respective meanings assigned to them as used herein:
(a) “Award” shall mean an Option, Restricted Stock Unit and other equity-based award which is granted or made under the Plan.
(b) “Award Agreement” shall mean an agreement which may be entered into by a Participant under the Plan and the Company, setting forth the terms and provisions applicable to Awards granted to such Participant.
(c) “Board of Directors” shall mean the Board of Directors of the Company, as constituted at any time.
(d) “Committee” shall mean the Compensation Committee of the Board of Directors, as described in Section 3.
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