Exhibit 10.7
Scholastic Corporation Management Stock Purchase Plan
(Amended and Restated Effective December 15, 1999)
SCHOLASTIC CORPORATION
MANAGEMENT STOCK PURCHASE PLAN
Effective January 1, 1999 Amended and Restated December 15, 1999
SCHOALSTIC CORPORATION
MANAGEMENT STOCK PURCHASE PLAN
(Amended and Restated Effective December 15, 1999)
i
SCHOLASTIC CORPORATION
MANAGEMENT STOCK PURCHASE PLAN
(Amended and Restated Effective December 15, 1999)
ARTICLE 1 - INTRODUCTION
The purpose of the Scholastic Corporation Management Stock Purchase Plan (the "Plan") is to provide equity
incentive compensation to selected management employees of Scholastic Corporation and its Affiliates.
Participants in the Plan receive restricted stock units at a discount in lieu of a portion or all of their bonus awards
under the Company's annual incentive plan. Under certain circumstances, the restricted stock units convert into
shares of Common Stock. The Company believes that the Plan creates a means to provide deferred
compensation to such selected management employees and to raise the level of stock ownership in the Company
by such employees thereby strengthening the mutuality of interests between such employees and the Company's
stockholders.
Table Of Contents
Article 1 - Introduction.....................................................1
Article 2 - Definitions......................................................1
Article 3 - Shares Reserved..................................................4
Article 4 - Administration...................................................4
Article 5 - Eligibility......................................................5
Article 6 - Purchases and Award of RSUs......................................5
Article 7 - Vesting and Payment of RSUs......................................6
Article 8 - Dividend Equivalent Amounts......................................8
Article 9 - Designation of Beneficiary..............................