OREANDA-NEWS. February 12, 2016. Time Inc. (NYSE:TIME) (the Company) today announced the grant on February 8, 2016 (the Grant Date) of a stock option to Ms.

Jennifer Wong to purchase 85,836 shares of the Companys common stock with an exercise price equal to \\$14.38 per share (the closing price per share of the Company's common stock as reported on the NYSE on the Grant Date) under a newly adopted Time Inc. Inducement Award Plan. The Time Inc. Inducement Award Plan was approved by the Companys Board of Directors. The grant (the Inducement Award) was offered as an inducement to Ms. Wong in connection with her employment with the Company as its Executive Vice President, President of Digital. The Inducement Award was granted pursuant to the Time Inc. Inducement Award Plan and was approved by the Companys Compensation Committee of the Board Directors in reliance on the employment inducement exception to shareholder approval provided under New York Stock Exchange Listing Rule 303A.08 which requires public announcement of inducement awards.

The Inducement Award will vest in four equal installments beginning on the first anniversary of the Grant Date and will expire on the tenth anniversary of the Grant Date. Vesting accelerates if employment terminates upon death or disability, or if there is a change in control (as defined in the Inducement Award Plan) and within 12 months, employment is terminated by the Company or because of a resignation for good reason. However, in the case of a change in control, if the accelerated amount would be subject to an excise tax under Section 280G of the Internal Revenue Code, the accelerated amount will be reduced to the extent this would result in a larger net after tax value. The described terms, and other terms and conditions are generally consistent with those in the Companys 2014 Omnibus Incentive Compensation Plan. The Company intends to file a Form S-8 relating to the Time Inc. Inducement Award Plan.


Time Inc. (NYSE:TIME) is one of the world's leading media companies, with a monthly global print audience of over 120 million and worldwide digital properties that attract more than 150 million visitors each month, including over 60 websites. Our influential brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as more than 50 celebrated franchises and events, including the Fortune 500, Time 100, Peoples Sexiest Man Alive, Sports Illustrateds Sportsperson of the Year, the Food & Wine Classic in Aspen, the Essence Festival and the biennial Fortune Global Forum. Hundreds of thousands of people attend our live media events every year. We have been extending the power of our brands through various investments and acquisitions, including the formation of Sports Illustrated Play, a new business devoted to youth and amateur sports, and the acquisition of inVNT, a company that specializes in live media. We also provide content marketing, targeted local print and digital advertising programs, branded book publishing and marketing and support services, including subscription sales services for magazines and other products, retail distribution and marketing services and customer service and fulfillment services, for ourselves and third-party clients, including other magazine publishers.