CONSULTING AGREEMENT 



        THIS
CONSULTING AGREEMENT (“Agreement”) is entered into on this 12th day of December,
2008, to be effective as of the 1st day of January, 2009, by and between Journal
Communications, Inc. (the “Company”) and Paul M. Bonaiuto
(“Consultant”). 



W I T N E S S E T H: 



        WHEREAS,
the Company is a diversified media company with operations in publishing, radio and
television broadcasting, and printing services; and 



        WHEREAS,
Consultant formerly served as the Company’s Chief Financial Officer and thereafter
will have served in a transition role until his retirement from the Company on December
31, 2008; and 



        WHEREAS,
Consultant has particular expertise in connection with the printing businesses in which
the Company is engaged as well as other aspects of the Company’s media businesses;
and 



        WHEREAS,
the Company desires to retain certain consulting services of Consultant, and Consultant
desires to provide such consulting services to the Company, in accordance with the terms
and conditions of this Agreement; 



        NOW
THEREFORE, for and in consideration of the premises, the mutual covenants and
agreements contained herein, and for other good and valuable consideration, the receipt,
sufficiency and adequacy of which are hereby acknowledged, the parties hereby agree as
follows: 



        1.    Engagement
as an Independent Contractor. The Company hereby engages           Consultant as an
independent contractor, and Consultant hereby accepts such           engagement as an
independent contractor, upon the terms and conditions set forth           in this
Agreement.  




        2.    Consulting
Period. Unless terminated sooner by either party, the term of           this
Agreement shall be for the two-year period commencing on January 1, 2009           and
ending on December 31, 2010 (the “Consulting Period”).  




        3.    Consulting
Services. Based upon his background and knowledge of matters           in which he
was involved as Executive Vice President and Chief Financial Officer           of the
Company, and his particular expertise in connection with the printing
          businesses in which the Company and its affiliates are engaged, Consultant
shall           provide professional consulting services and advice (the “Consulting
          Services”) as the Company may request in writing from time to time.
          Specifically, and without limitation, Consultant hereby agrees to:  













	 	• 	consult,
 advise and perform services as requested with respect to the printing operations of the
following  affiliates of the          Company: Journal Sentinel Inc., Journal Community
Publishing Group, Inc., IPC Print Services, Inc. and Plus PrimeNet; and






	 	•	provide
counsel and advice as requested to transfer substantive knowledge and processes to
facilitate an orderly transition of his prior responsibilities to designated consultants
or employees in the Company. 






        Additionally,
during the term of this Agreement, Consultant agrees to take no actions that would have
the likely consequence of damaging the public image or reputation of the Company or its
affiliates. 



        4.    Independent
Contractor Relationship. The parties acknowledge and intend           that the
relationship of Consultant to the Company under this Agreement shall be           that of
an independent contractor. In performing the Consulting Services under           this
Agreement, Consultant shall undertake the Consulting Services according to           his
own means and methods of work which shall be in the exclusive charge and
          control of Consultant and which shall not be subject to the control or
          supervision of the Company, except as to the objectives of those Consulting
          Services. Consultant shall determine his own working hours and schedule and
          shall not be subject to the Company’s personnel policies and procedures.
          Consultant shall be entirely and solely responsible for his actions or
inactions           and the actions or inactions of his agents, employees or
subcontractors, if any,           while performing Consulting Services hereunder.
Consultant agrees that he shall           not, in any form or fashion, maintain, hold
out, represent, state or imply to           any other individual or entity that an
employer/employee relationship exists           between the Company and Consultant, his
agents and employees, or between the           Company and any subcontractor or its
agents and employees, and Consultant is not           granted nor shall he represent that
he is granted any right or authority to make           any representation or warranty or
assume or create any obligation or           responsibility, express or implied, for, on
behalf or in the name of the           Company, to incur debts for the Company or to bind
the Company in any manner           whatsoever.  




        Consultant
is not precluded from representing, or performing services for, and being employed by
other persons, companies or organizations, provided that such services do not create an
actual conflict of interest that would preclude Consultant from undertaking Consulting
Services as required under this Agreement. For clarity in interpreting this provision,
were Consultant to undertake consulting services for a direct competitor of Company in the
printing business concerning that competitor’s printing operations or were Consultant
to be in a position to use or disclose actually or inevitably any confidential information
of the one party (e.g., the Company’s) in consulting with the other party (i.e., the
competitor), a conflict of interest would arise. Contrariwise, were Consultant to
undertake consulting services with another company, whether a competitor of the Company or
otherwise, outside the scope of Consulting Services and not involving use or disclosure of
either party’s confidential information in carrying out his duties for the other, no
conflict would arise or be asserted. 




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        The
obligations imposed on Consultant concerning Company’s confidential information are
set forth in Section 7 of this Agreement. In the event of any conflict between the
provisions of Section 4 and Section 7 of this Agreement, the provisions of Section 7 shall
control. Additionally, and anything stated in this Section 4 to the contrary
notwithstanding, Consultant’s covenants concerning noncompetition with Company for
any reason, including consulting services that may hereafter be performed by Consultant
for or on behalf of a competitor of Company, but not the obligations of Consultant under
Section 7 of this Agreement, shall expire with the expiration or earlier termination of
this Agreement. 



        5.    Hours.
Consultant shall devote such time to the performance of Consulting           Services
hereunder as is reasonably necessary to perform them in a satisfactory           manner,
up to but not in excess of 20 hours per month without the written mutual           agreement of
the parties. Under no circumstance shall total hours worked rise           above a level
equal to more than 20% of the average level of services performed           by Consultant
as an employee of the Company during 2007, 2007 and 2008, in           accordance with
Treas. Reg. §1.409A-l(h)(1)(ii).  




        6.    Compensation
and Expenses 




        (a)    Compensation.
For each month during the Consulting Period and for the           hourly commitment set
forth in Section 5 hereof, the Company will pay Consultant           a consulting fee
(the “Consulting Fee”) of $8,334.00. Should the           parties mutually
agree upon any additional commitments by Consultant over those           specified in
Section 5, they will likewise agree upon an amended Consulting Fee           for each
such period during which those commitments are extended. All Consulting           Fees
shall be payable in cash and remitted in arrears no later than fifteen (15) days following the end           of
each month during the Consulting Period with the last payment to be made not later than January 15, 2011 notwithstanding the expiration
of this Agreement.  If the Company
          terminates this Agreement prior to December 31, 2010, the Company shall, within
          thirty (30) days after such termination, pay Consultant a lump sum equal to the
          remaining Consulting Fee that would have been earned through December 31, 2010.
          At the request of Consultant, Consulting Fees and any other moneys due and
owing           Consultant under this Agreement shall be deposited to an account or
mailed to an           address Consultant shall specify in writing to Company in
accordance with the           Notice provisions of Section 8 hereof.  




        (b)    Expenses.
In addition to payment of the Consulting Fee, the Company shall           reimburse
Consultant for all reasonable expenses that are either pre-approved by           the
Company or actually necessitated by the Consulting Services specified by
          Company, including expenses for non-local travel, meals and lodging, rental
          cars, long distance calls, telecopy charges and copying costs, translation fees
          and third-party expenses incurred in connection with the performance of the
          Consulting Services hereunder after Consultant’s presentation of an
invoice           containing a complete account of such expenditures and all reasonable
          documentation as may be required by the Company in connection therewith.  





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        All
invoices for expenses properly submitted by Consultant hereunder shall be paid by the
Company within thirty (30) days after receipt thereof. All invoices shall be delivered to
the following address, or such other address as shall hereafter be specified by the
Company: 



	 	
Journal
Communications, Inc.
333 West State Street
Milwaukee, Wisconsin 53203
Attention: Corporate
Secretary 






        (c)    Taxes
and Employee Benefits. The parties agree that during the Consulting           Period,
Consultant shall be serving as an independent contractor of the Company,           and
therefore unless required by law, the Company shall not deduct any federal,
          state or local taxes or other withholdings from any sums paid Consultant
          hereunder, and Consultant hereby agrees to indemnify and hold harmless the
          Company and each of its Affiliates from, direct liability for any and all
          federal, state and local taxes or assessments of any kind arising out of any
          payment made by the Company to Consultant hereunder. Consultant shall be
          responsible for all tax reporting, tax payments, withholdings, insurance and
          other payments, expenses and filings required to be made or paid by him or his
          agents or employees. Further, neither Consultant nor any of his agents or
          employees on account of his or their having rendered Consulting Services
          hereunder shall be entitled to any benefits provided by the Company to any of
          its employees, including, without limitation, any retirement plan, insurance
          program, disability plan, medical benefits plan or any other fringe benefit
          program sponsored and maintained by the Company for its employees; provided
          however, nothing stated in this Agreement shall in any way affect any benefits
          to which Consultant may be entitled as a result of his prior employment with
the           Company or its Affiliates.  




        7.    Confidentiality.
Consultant shall not, without the prior written consent           of the Company,
disclose to third parties any confidential information he           acquires from the
Company, and Consultant shall take all reasonable precautions           to prevent his
disclosure of confidential information to any third party who is           not
independently under an obligation of confidentiality to the Company. For the
          purposes of this Agreement, confidential information shall include any and all
          information not in the public domain respecting the activities, operations,
          plans, properties, and financial condition of the Company and its affiliates,
          that is disclosed or made available to Consultant, his employees or agents by
          any source, whether orally or in writing, and whether such information is
          disclosed either before or after the date of this Agreement, unless such
          disclosure has been specifically approved for release by the Company in
writing.           The terms of this paragraph shall be a continuing covenant that
survives the           expiration or earlier termination of this Agreement for an
additional period of           three (3) years, after which the covenant of this Section
7 respecting           confidentiality shall expire.  





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        8.    Notices.
All notices required, necessary or desired to be given pursuant           to this
Agreement shall be in writing and shall be effective when delivered or           on the
third day following the date upon which such notice is deposited, postage
          prepaid, in the United States mail, certified return receipt requested, and
          addressed to the party at the address set forth below:  




	 	                  If to Consultant: 	Paul
M. Bonaiuto                                             
10021 N. Waterleaf Dr.
                                            
Mequon, Wisconsin 53092 






	 	If to the Company: 	Journal
Communications, Inc. 
333 West State Street
Milwaukee, Wisconsin 53203
Attention: Corporate
Secretary  






Any party may change the address to
which notices and other communications shall be delivered or mailed by giving notice
thereof to the other party in the same manner provided herein. 



        9.    Waiver
of Breach. The waiver by either party to this Agreement of a           breach of any
provision, section or paragraph of this Agreement shall not           operate or be
construed as a waiver of any subsequent breach of the same, or of           a different
provision, section or paragraph, by any party hereto.  




        10.    Assignment.
Consultant may not assign, transfer or subcontract any of his           obligations under
this Agreement to any party without the prior written consent           of the Company.
Any attempted or purported assignment, transfer or           subcontracting in violation
of this provision shall be null and void.  




        11.    Governing
Law. Except to the extent preempted by federal law, and without           regard to
conflict of laws principles, the laws of the State of Wisconsin will           govern
this Agreement in all respects, whether as to its validity, construction,
          capacity, performance or otherwise.  




        12.    Entire
Agreement. This Agreement embodies the entire agreement of the           parties and
supersedes all prior agreements between the parties hereto relating           to the
subject matter hereof. It may not be changed orally, but only by an           agreement
in writing signed by the party against whom enforcement of any waiver,           change,
modification, extension or discharge is sought.  




        13.    Partial
Invalidity. If any provision of this Agreement is found to be           invalid or
unenforceable by any court, only that provision shall be ineffective,           unless
its invalidity or unenforceability shall defeat an essential purpose of           this
Agreement.  




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        IN
WITNESS WHEREOF, the parties hereto have duly executed and delivered this Consulting
Agreement as of the date first above written. 



		/s/ Paul M. Bonaiuto
		Paul M. Bonaiuto
	
 	JOURNAL COMMUNICATIONS, INC.
	
 	By:  /s/ Steven J. Smith
		        Steven J. Smith
		        Chairman and Chief Executive Officer















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