Company: SGA
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001104659-25-033247
Chunk: 63

Company: SAGA COMMUNICATIONS INC
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 63
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 2000, and amended effective as of January 1, 2005. The purpose of the Plan is to further the interests of the Company’s shareholders by establishing and providing performance-based incentives to the Chief Executive Officer of the Company. 1.2. Applicability of Plan . The provisions of this Plan are applicable only to the Chief Executive Officer of the Company. ARTICLE II
DEFINITIONS 2.1 Definitions . Wherever used in the Plan, the following words and phrases shall have the meaning set forth below, unless the context plainly requires a different meaning: “ Administrator ” means the Compensation Committee. “ Beneficiary ” means the person or persons designated by the Chief Executive Officer in accordance with Section 6.7. “ Board ” means the Board of Directors of the Company. “ Cause ” means “for cause” as defined in paragraph 11 of the employment agreement entered into by the Chief Executive Officer and the Company; provided, however, that “Cause” shall not exist unless the notice and potential redress process described in such employment agreement have been completed. “ Code ” means the Internal Revenue Code of 1986, as amended from time to time. “ Committee ” means the Compensation Committee, and with respect to the administration of the Plan, whose members shall satisfy the definition of “outside directors” as identified in Code Section 162(m)(4)(C) and as defined in Treasury Regulation §1 62-27(e)(3). “ Company ” means Saga Communications, Inc. “ Disability ” means “disability” as that term is described in paragraph 10 of the employment agreement entered into by the Chief Executive Officer and the Company. “ Effective Date ” means January 1, 2000. “ Fiscal Year ” means the 12-month period beginning January 1 and ending on the following December 31 st . “ Incentive Award ” means the amount payable pursuant to the Plan with respect to a Fiscal Year, based on the level of achievement of the Performance Goals established for the Performance Measures selected by the Committee for such Fiscal Year. “ Performance Goal ” means, with respect to a specific Performance Measure, the level at which credit will be given to the Chief Executive Officer for purposes of determining a payment from the Plan for a Fiscal Year. “ Performance Measure ” means each measure identified in Section 4.1. A-1 TABLE OF CONTENTS “ Plan ” means. the Chief Executive Officer Annual Incentive Plan of Saga Communications, Inc., and any amendment thereto. “ Retirement ” means