American Media, Inc. EBITDA Incentive Plan for Michael Porche



 Exhibit 10.26 
 AMERICAN MEDIA, INC. 
 EBITDA INCENTIVE PLAN 
 FY 2008 
 Michael Porche

  

	I.	General 

  

	 	A.	Only employees of American Media, Inc. (the “Company”) or its subsidiaries who are selected by the Chairman/CEO (the “Administrator”) shall be eligible to
participate in the Plan. 

  

	 	B.	The plan year shall be the Company’s fiscal year. 

  

	II.	Target Incentive 

 Each participant will have
an individualized determined salary base and target incentive that is keyed to achieving the EBITDA target of the DSI’s. 
  

	III.	Payout for Achieving Profit Target 

  

	 	A.	Achieving 100% of DSI’s EBITDA target will earn 100% of target incentive. 

  

	 	B.	If applicable, achieving more than 100% of EBITDA target will earn the percentage of the target incentive specified on the participant’s Statement. 

  

	 	C.	Achieving less than 100% of the applicable target will earn a reduced amount of the target incentive calculated as follows: If actual EBITDA is between 95% and 100% of targeted
EBITDA a payment of 95% of target incentive will be made. No incentive payment will be made if less than 95% of the applicable target is achieved. 

  

	IV.	Calculating EBITDA 

  

	 	A.	EBITDA as used in this Plan shall be based on the attached (Attachment “B”) Income Statement for FY07 (in accordance with the Company’s accounting practices and
polices and GAAP. 

  

	V.	Administration 

  

	 	A.	Payment will be made once per year, approximately 90 days after the Fiscal Year Close. 

  


	 	B.	Participants must be on payroll as of the last day of the Company’s fiscal year to be eligible for payment of that year’s incentive. 

  

	 	C.	Participation in this Plan does not constitute any form of guarantee of employment. 

  

	***	Selected confidential information has been omitted from this Exhibit 10.26 pursuant to a request for confidential treatment filed with the Securities and Exchange Commission.









 American Media, Inc. 
 EBITDA Incentive Plan 
 Fiscal 2008 
  

					
	American Media, Inc.	  		  	
			
	Name:	  	Michael Porche	  	

  

								
	 EBITDA Target
	  	DSI	  		  	$	 ***
		  		  		  		
		  		  		  		
		  		  		  	 	 
		  	Total	  		  	$	 ***
		  		  		  	 	 
	 Target Incentive
	  		  	At 100% of EBITDA Target	  	$	87,500.00

 Revenue is based on the ON SALE revenue recognition policy. 

EBITDA Less than Applicable EBITDA Target: 
 If actual
EBITDA is between 95% - 100% of the EBITDA target, Executive will receive 95% of the target incentive. No payment will be made under this plan if Actual EBITDA is less than 95% of the total Targeted EBITDA. 
  

							
	 /s/ Daniel Rotstein
	 		  	 /s/ Michael Porche
	 	9/5/07
	Daniel Rotstein	 		  	Michael Porche	 	

  

	***	Confidential information omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission. 








 American Media, Inc. 
 EBITDA Incentive Plan 
 Fiscal 2008 - Worse Than Target

  

							
	Name:	  	Michael Porche	  		  	
	 TARGET INCENTIVE
	  	$ 87,500	  		  	

  

						
	Example #1	  	Profits at 95% of EBITDA Target or	  	$	***
	TARGET INCENTIVE	  	@    95%	  	$	83,125
			
	Example #2	  	Profits below 95% of EBITDA Target or	  	$	***
	TARGET INCENTIVE	  	@    0%	  	$	—  

  

	***	Confidential information omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission. 

  







 Attachment “B” 
 AMERICAN MEDIA OPERATIONS, INC. 
 DISTRIBUTION SERVICES 
 2007 FULL YEAR 
 INCOME STATEMENT 

 This entire chart has been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission.