Document:

Exhibit
10.2

 

April 2, 2008

 

Hearst-Argyle Television, Inc.

300 West 57th Street, 39th Floor

New York, New York 10019

 

Re:  Agency Agreement

 

Ladies/Gentlemen:

 

This Agency Agreement (the “Agreement”) sets
forth the mutual agreements between Lifetime Entertainment Services (“Lifetime”)
and Hearst-Argyle Television Inc. (“Hearst” or “HTV”) regarding negotiation
with    *    for
the right to retransmit the signals of the broadcast television station(s) set
forth on Appendix A hereto (the “Stations”).

 

1.             NEGOTIATIONS.

 

(a)           Prior to the date hereof, * has requested that
Lifetime and Hearst submit a joint proposal for retransmission of the Stations’
signals and distribution of the Lifetime Television and Lifetime Movie Network
programming services (the “Services”). 
Accordingly, except as otherwise provided for herein, Hearst hereby
appoints Lifetime as Hearst’s agent to conduct negotiations with * during the
Term hereof for retransmission of the Stations’ signals as provided for and in
accordance with the provisions of this Agreement as part of, and in connection
with, Lifetime’s negotiations with *  for
carriage and distribution of the Services (which negotiations may include
carriage and distribution of the Lifetime Real Women programming service, to
the extent permitted by law).  Lifetime,
to the extent permitted by law, is authorized to negotiate with * during the
Term for retransmission and carriage of the Stations’ free, over-the-air analog
and digital broadcast signals (but not for carriage of any video or audio
programming or other services offered on an encrypted, paid subscription basis
or any data services, other than program-related material, except as may be
approved in advance in writing by Hearst, which rights otherwise shall be
retained by Hearst).  Retransmission
consent rights for carriage and retransmission of the signals of the Stations
by all other cable, satellite, telephone, Internet, microwave, mobile, and
other video providers (i.e., other than  *
) are reserved by Hearst and are not addressed by, included in, or otherwise a
part of this Agreement.

 

(b)           The negotiation of retransmission consent agreements
for the Stations hereunder shall be for retransmission of the signals of the
Stations by  * to subscribers located (i) within
the applicable Designated Market Area (as defined by Nielsen Media Research) (“DMA”)
of the applicable Station; (ii) to the extent it is within the limits of  *’s compulsory copyright license and
authorized by the Station’s program suppliers’ rights agreement, outside the
DMA, in each community where the applicable Station is “significantly viewed”
(as such term may be defined in the rules and regulations of the Federal
Communications Commission (“FCC”)); and (iii) to the extent it is within
the limits of *’s compulsory copyright license and authorized by the

 

* This
information has been redacted pursuant to a request for confidential treatment
submitted to the SEC on May 2, 2008.  We have filed the redacted
material separately with the SEC.

 

1

 

Station’s program suppliers’ rights agreement, outside of such DMA,
where the Station has been historically carried.  Lifetime hereby agrees to use commercially
reasonable and lawful efforts to secure on Hearst’s behalf a retransmission
consent agreement with * in accordance with the provisions hereof and to
cooperate with Hearst and timely furnish to Hearst all relevant documents and
information relating to the negotiations pursuant to this Agreement (but not
any individual independent negotiations for carriage of the Services),
including, but not limited to, non-confidential subscriber information of *
within and outside each Station’s DMA and system contact information for *.

 

(c)           Notwithstanding anything
herein to the contrary, it is agreed that (i) the terms and conditions of *’s
retransmission consent agreement for each Station shall be as contained in a
Will Carry Agreement executed by Hearst for that Station, and, to the extent
the terms and conditions of that Will Carry Agreement may be inconsistent with
any provision herein, the Will Carry Agreement will control and (ii) the
terms and conditions of *’s affiliation agreement for each Service shall be as
contained in an Affiliation Agreement executed by Lifetime for that Service,
and, to the extent the terms and conditions of the Affiliation Agreement may be
inconsistent with any provision herein, the Affiliation Agreement will
control.  If by *, Hearst has not
executed a Will Carry Agreement acceptable to Hearst with respect to any
Station which, as of the date of this Agreement, is being carried by * pursuant
to an existing election by Hearst for carriage on a “must carry” basis, Hearst
may, at its option, elect “must carry” for that Station, and Hearst will give
reasonable prior notice thereof to Lifetime.

 

(d)           This Agreement authorizing
Lifetime to negotiate retransmission consent rights as provided for herein
extends to each Station listed on Appendix A; provided that if Hearst has
divested one or more Stations listed on Appendix A prior to the execution of a
Will Carry Agreement with *, then (i) Appendix A shall be deemed amended
to delete any such divested Station(s) *.

 

(e)           Except as otherwise set
forth in this Agreement, and without limiting the generality of the negotiation
provisions set forth in Paragraphs 1(a) through (1)(d) above during
the Term, Hearst shall not enter into an agency agreement for such negotiations
with nor grant to any other person or entity any right to enter into
negotiations for any retransmission consent right of Hearst with respect to the
Stations for * and, subject to all laws and regulations, including but not
limited to antitrust laws, the FCC’s rules regarding such negotiations,
and Hearst’s licensee responsibilities under law to control at all times the
operation of its Stations.  Except as
otherwise set forth in this Agreement, and without limiting the generality of
the provisions set forth in Paragraphs 1(a) through (1)(d) above
during the Term, Lifetime shall not enter into any agreement with any other
party to serve as its agent for negotiations with * for retransmission consent
rights of any other television broadcast station, subject to all laws and
regulations, including but not limited to antitrust laws.

 

* This
information has been redacted pursuant to a request for confidential treatment
submitted to the SEC on May 2, 2008.  We have filed the redacted
material separately with the SEC.

 

2

 

2.                                      TERM OF AGREEMENT FOR NEGOTIATIONS AND DURATION OF WILL CARRY AGREEMENT.

 

(a)           Subject to Paragraph 5, the term (“Term”) during
which Lifetime shall serve as agent for negotiation of retransmission consent
of the Stations with * shall begin on the date of this Agreement and shall
expire on *.

 

(b)           Notwithstanding the foregoing, the expiration of the
Term shall not affect the parties’ respective rights and obligations hereunder
with respect to any Will Carry Agreement with * entered into during the
Term.  Expiration or termination of the
Term shall not relieve Lifetime of its  obligations
to make all payments otherwise due to be made to Hearst herein.

 

(c)           Notwithstanding any
provision of this Agreement to the contrary, except as  otherwise agreed by the parties, Lifetime
shall have no right to negotiate with respect to any extension or renewal of
the term of any Will Carry Agreement with * entered into by Hearst during the
Term of this Agreement or with respect to any extension or renewal of any will
carry agreement with any other multichannel video programming distributor that
expires after the date hereof.  Lifetime’s
right to serve as Hearst’s agent hereunder shall terminate upon the
commencement of the original term of a Will Carry Agreement entered into by
Hearst hereunder.

 

(d)           The term of any Will Carry
Agreement negotiated with * pursuant to this Agreement shall expire no later
than *.

 

3.             RETRANSMISSION
CONSENT AND NETWORK AGREEMENTS.

 

(a)           Retransmission consent for
the applicable Station will be granted to * by Hearst pursuant to the Will
Carry Agreement referred to in subsection (b) below.

 

(b)           The Will Carry Agreement
must be satisfactory to Hearst, acting in good faith, including, but not
limited to, *.

 

(c)           Lifetime shall deliver to * in writing as set forth
in Appendix B at the commencement of its negotiations hereunder and confirm
verbally or otherwise as requested by * that *.

 

(d)           Lifetime shall not, as Hearst’s agent, *.

 

4.             COMPENSATION TO HEARST.

 

(a)           In
consideration of Hearst’s agreement to grant Lifetime the right as provided for
herein to jointly negotiate retransmission consent rights in connection with
one or more executed Affiliation Agreements for the Services, Lifetime will pay Hearst in accordance with 

 

* This
information has been redacted pursuant to a request for confidential treatment
submitted to the SEC on May 2, 2008.  We have filed the redacted
material separately with the SEC.

 

3

 

the amounts of payment and at the times and in the
manner of payment set forth in Appendix C and Paragraphs 4(b) and (c).

 

(b)           Payment will be based upon *.

 

5.             TERMINATION OF AGREEMENT.

 

(a)           If a Will
Carry Agreement with * has not been successfully negotiated and executed within
the time period specified in Paragraph 2(a) above, unless extended in
writing and signed by the parties hereto, the right to negotiate that Will
Carry Agreement will revert to Hearst at Hearst’s election, and Lifetime shall
have no payment obligation hereunder, and Hearst shall have no obligation to
Lifetime hereunder.

 

(b)           It is the
intent of Hearst and Lifetime, and each agrees, that this Agreement and all
negotiations conducted pursuant to this Agreement shall be conducted in
accordance with all laws, including the antitrust and fair competition laws,
the Communications Act of 1934, as amended, and the rules of the FCC.  Lifetime agrees that the retransmission
consent negotiations for each Station will be conducted in accordance with all
applicable federal and state laws, including, but not limited to, 47 C.F.R. §
76.64 and § 76.65 of the rules of the FCC and any amendment thereto.  Lifetime represents to Hearst that it is
knowledgeable with all laws related to the negotiations contemplated hereunder
and will comply with all such laws.  In
the event either Hearst or Lifetime, in good faith, should determine at any
time that this Agreement or any negotiation conducted or being conducted
pursuant to this Agreement may violate any such law or regulation, then either,
upon notice to the other, may immediately terminate this Agreement.

 

Should any
part of this Agreement become inconsistent with the rules of the FCC or
agreed upon governing law and the parties are not the beneficiaries of an
appropriate waiver, that part of the Agreement shall terminate as of the date
that such an inconsistency exists, but all other parts of the Agreement shall
remain in full force and effect.  In such
event, the parties shall use their good faith efforts to modify this Agreement
so as to conform it with the applicable FCC rule, policy, or law, if possible,
while achieving their respective objectives under this Agreement.

 

6.             NO LIABILITY; INDEMNIFICATION.

 

Neither party shall have
any responsibility or liability to the other party in the event that any
negotiations authorized hereunder do not result in an agreement or with respect
to the terms or provisions of any agreement with * entered into in accordance
with the terms provided herein.  Neither
party shall have any liability to the other party in the event of a breach,
default, or termination of any Will Carry Agreement or Affiliation
Agreement. 
Each party shall indemnify and hold the other party harmless from and
against any and all claims by third parties, and any liabilities, costs and
expenses (including attorneys’ fees) relating thereto, arising from such party’s
actions in the performance of this Agreement. 
The provisions of this Paragraph 6 shall 

 

* This information has been redacted pursuant to a request for
confidential treatment submitted to the SEC on May 2, 2008.  We have
filed the redacted material separately with the SEC.

 

4

 

survive termination of this Agreement and/or
termination or rescission of the authorizations granted herein.

 

7.             NOTICES.

 

All notices required to be
given hereunder shall be given in writing and sent by mail, electronic
facsimile device, courier service, express mail service, or personally
delivered to the respective addresses of Lifetime and Hearst as set forth below
(or such other address as such party may designate from time to time by notice
to the other):

 

	
  If to Lifetime:

  	
  Lifetime Entertainment Services

  
	
   

  	
  2049 Century Park East

  
	
   

  	
  Suite 840

  
	
   

  	
  Los Angeles, California 90067

  
	
   

  	
  Attention: Executive Vice Pres., Distribution and
  Business

  
	
   

  	
  Development

  
	
   

  	
   

  
	
  with a copy to:

  	
  Lifetime Television

  
	
   

  	
  309 West 49th Street, 16th Floor

  
	
   

  	
  New York, New York 10019

  
	
   

  	
  Attention: Senior Vice Pres., Business and Legal
  Affairs

  
	
   

  	
   

  
	
  If to Hearst:

  	
  Hearst-Argyle Television, Inc.

  
	
   

  	
  300 West 57th Street, 39th Floor

  
	
   

  	
  New York, New York 10019

  
	
   

  	
  Attention: President

  
	
   

  	
   

  
	
  with a copy to:

  	
  Hearst-Argyle Television, Inc.

  
	
   

  	
  300 West 57th Street, 39th Floor

  
	
   

  	
  New York, New York 10019

  
	
   

  	
  Attention: General Counsel

  

 

Notice given by mail shall
be effective five (5) days after the date of mailing, postage prepaid
certified or registered mail; notice by electronic facsimile device shall be
effective upon confirmation of receipt; notice by personal delivery, courier
service, or express mail service shall be effective upon delivery.

 

8.             ASSIGNMENT.

 

(a)           In the
event of a transfer of all or substantially all of a party’s assets, this
Agreement shall be assigned to the transferee and consent of the other party
shall not be required.  Except as may
otherwise be provided herein, neither party may assign or transfer this
Agreement without the prior written consent of the other.  An assignment or transfer in violation of
this provision shall be null and void ab
initio.

 

(b)           In the
event that Hearst proposes to sell or transfer ownership or control of one or
more Stations, Hearst shall notify Lifetime in writing within thirty (30) days
after entering into 

 

5

 

an agreement for such sale or transfer.  Upon the consummation of such assignment or
transfer, Lifetime’s authority to negotiate retransmission consent rights for
that Station(s) shall terminate.

 

(c)           If Hearst sells or transfers a Station which is covered under a Will Carry
Agreement and such Will Carry Agreement, as applicable to that Station, is
assigned to the buyer or transferee of the Station, Hearst will notify Lifetime
thereof, and Lifetime will continue to pay to Hearst or its designee the
retransmission consent payments due hereunder for such Will Carry
Agreement.  If such Will Carry Agreement,
as applicable to that Station, is not assigned or transferred to the buyer or
transferee of the Station, Hearst will notify Lifetime thereof, and Lifetime
shall be released from any obligation to pay Hearst or its designee any fees
payable hereunder that would have accrued thereafter for the retransmission
consent rights for the Station under that Will Carry Agreement.

 

9.                                      CONFIDENTIALITY.

 

Each party agrees not to
disclose to any person or entity the existence or terms of this Agreement
unless the other party consents to that disclosure in advance except as  may be required by law or by the rules of
any exchange or market on which Hearst securities are listed. Neither party
shall issue any press release regarding this Agreement without the express
written consent of the other, which may be withheld in such party’s sole
discretion. Additionally, each party hereby agrees to be bound by any
confidentiality provisions of any Will Carry Agreement or Affiliation Agreement
negotiated and entered into pursuant to this Agreement.  Notwithstanding anything to the contrary contained in this Section 9, Lifetime
agrees that (i) any public disclosures of the terms of this Agreement made
on and after the date hereof, substantially in the form attached hereto as
Appendix D, comply with the provisions of this Section 9 (it being agreed
that such disclosures may contain some or all of the information contained in
Appendix D); and (ii) Hearst will file a copy of this Agreement as part of
its public reports filed with the Securities and Exchange Commission (“SEC”)
and, although Hearst will request confidential treatment for material terms
(including the references to * contained herein and the dollar amounts referred
to herein), there can be no assurance that the SEC will not require Hearst to
disclose publicly such matters, and any such disclosure will be deemed to
comply with the provisions of this Section 9.

 

10.          DOCUMENTS IN LIFETIME’S POSSESSION; ASSURANCES.

 

Lifetime shall use commercially reasonable
efforts to deliver to Hearst or its designee, within thirty (30) days from the
date hereof or as otherwise agreed by the parties legible copies of every
Hearst will carry agreement, retransmission consent agreement, or other
carriage agreement affecting any of the Stations, and any amendments thereto,
negotiated by Lifetime  *.

 

11.          GENERAL.

 

(a)           This
Agreement shall constitute a valid and binding agreement with respect to all of
the matters set forth herein, and, to the extent the Agreement is transferred
or assigned as 

 

* This information has been redacted pursuant to a request for
confidential treatment submitted to the SEC on May 2, 2008.  We have
filed the redacted material separately with the SEC.

 

6

 

provided for herein, it shall be binding upon each
party’s successors and assigns.  This
Agreement shall be construed in accordance with the internal laws of the State
of New York and, where applicable, the rules and regulations of the
Federal Communications Commission.

 

(b)           Neither
Hearst nor Lifetime will share with or disclose, directly or indirectly to the
other or its respective agents, the terms or conditions under which it is
negotiating or will negotiate retransmission or carriage agreement(s) with
* independent of the joint negotiation for retransmission of the Stations and
carriage of the Services as provided for by this Agreement nor the terms or
conditions of any such independently negotiated agreement(s), unless authorized
in advance in writing by * and permitted by law.

 

12.          2006 AGREEMENT; MODIFICATIONS.

 

All of the obligations of the parties under the January 29,
2006, agreement between the parties (the “2006 Agreement”) are not superseded
by this Agreement and shall continue in full force and effect, including, but
not limited to, Lifetime’s obligation to pay Hearst all fees provided for under
the 2006 Agreement.  This Agreement may
not be amended or modified except by a writing executed by the parties hereto.

 

13.          BOARD OF DIRECTORS APPROVAL.

 

The
execution and delivery of this Agreement by Hearst is subject to approval by its
Board of Directors or a committee thereof and, accordingly, this Agreement
shall not be deemed a binding agreement of Hearst unless and until such
approval is obtained.  If Hearst has not
obtained such approval by April 14, 2008, then this Agreement shall be
null and void without any further action. 
Hearst shall inform Lifetime no later than April 14, 2008 if such
approval is not obtained.

 

* This information has been redacted pursuant to a
request for confidential treatment submitted to the SEC on May 2, 2008.  We have filed the redacted material
separately with the SEC.

 

7

 

If the
foregoing comports with your understanding, please sign and return the enclosed
duplicate copy of this letter.

 

	
   

  	
  LIFETIME ENTERTAINMENT SERVICES

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Lori
  A. Conkling

  
	
   

  	
  Name

  
	
   

  	
   

  
	
   

  	
  EVP.
  Distribution

  
	
   

  	
  Title

  

 

 

Acknowledged and agreed to

This 2nd day of April,
2008

 

HEARST-ARGYLE TELEVISION, INC.

 

 

	
  /s/
  Jonathan C. Mintzer

  	
   

  
	
  Name

  
	
   

  
	
  Vice
  President, General Counsel and Secretary

  	
   

  
	
  Title

  

 

8

 

APPENDIX A

 

HEARST-ARGYLE STATIONS

 

	
  Call

  	
   

  	
  Channel

  	
   

  	
  Affiliation

  	
   

  	
  City of License

  	
   

  	
  Licensee

  
	
  KCCI(TV)

  	
   

  	
  8

  	
   

  	
  CBS

  	
   

  	
  Des
  Moines, Iowa

  	
   

  	
  Des
  Moines Hearst-Argyle Television, Inc.

  
	
  KCRA-TV

  	
   

  	
  3

  	
   

  	
  NBC

  	
   

  	
  Sacramento,
  California

  	
   

  	
  Hearst-Argyle
  Stations, Inc.

  
	
  KCWE-TV

  	
   

  	
  29

  	
   

  	
  CW

  	
   

  	
  Kansas
  City, Missouri

  	
   

  	
  KCWE-TV
  Company

  
	
  KETV(TV)

  	
   

  	
  7

  	
   

  	
  ABC

  	
   

  	
  Omaha,
  Nebraska

  	
   

  	
  KETV
  Hearst-Argyle Television, Inc.

  
	
  KHBS(TV)

  	
   

  	
  40

  	
   

  	
  ABC

  	
   

  	
  Fort
  Smith, Arkansas

  	
   

  	
  KHBS
  Hearst-Argyle Television, Inc.

  
	
  KHOG-TV

  	
   

  	
  29

  	
   

  	
  ABC

  	
   

  	
  Fayetteville,
  Arkansas

  	
   

  	
  KHBS
  Hearst-Argyle Television, Inc.

  
	
  KHVO(TV)

  	
   

  	
  13

  	
   

  	
  ABC

  	
   

  	
  Hilo,
  Hawaii

  	
   

  	
  Hearst-Argyle
  Stations, Inc.

  
	
  KITV(TV)

  	
   

  	
  4

  	
   

  	
  ABC

  	
   

  	
  Honolulu,
  Hawaii

  	
   

  	
  Hearst-Argyle
  Stations, Inc.

  
	
  KMAU(TV)

  	
   

  	
  12

  	
   

  	
  ABC

  	
   

  	
  Wailuku,
  Hawaii

  	
   

  	
  Hearst-Argyle
  Stations, Inc.

  
	
  KMBC-TV

  	
   

  	
  9

  	
   

  	
  ABC

  	
   

  	
  Kansas
  City, Missouri

  	
   

  	
  KMBC
  Hearst-Argyle Television, Inc.

  
	
  KOAT-TV

  	
   

  	
  7

  	
   

  	
  ABC

  	
   

  	
  Albuquerque,
  New Mexico

  	
   

  	
  KOAT
  Hearst-Argyle Television, Inc.

  
	
  KOCO-TV

  	
   

  	
  5

  	
   

  	
  ABC

  	
   

  	
  Oklahoma
  City, Oklahoma

  	
   

  	
  Ohio/Oklahoma
  Hearst-Argyle Television, Inc.

  
	
  KOCT(TV)

  	
   

  	
  6

  	
   

  	
  ABC

  	
   

  	
  Carlsbad,
  New Mexico

  	
   

  	
  KOAT
  Hearst-Argyle Television, Inc.

  
	
  KOVT(TV)

  	
   

  	
  10

  	
   

  	
  ABC

  	
   

  	
  Silver
  City, New Mexico

  	
   

  	
  KOAT
  Hearst-Argyle Television, Inc.

  
	
  KQCA(TV)

  	
   

  	
  58

  	
   

  	
  MNT

  	
   

  	
  Stockton,
  California

  	
   

  	
  Hearst-Argyle
  Stations, Inc.

  
	
  KSBW(TV)

  	
   

  	
  8

  	
   

  	
  NBC

  	
   

  	
  Salinas,
  California

  	
   

  	
  Hearst-Argyle
  Stations, Inc.

  
	
  WAPT(TV)

  	
   

  	
  16

  	
   

  	
  ABC

  	
   

  	
  Jackson,
  Mississippi

  	
   

  	
  WAPT
  Hearst-Argyle Television, Inc.

  
	
  WBAL-TV

  	
   

  	
  11

  	
   

  	
  NBC

  	
   

  	
  Baltimore,
  Maryland

  	
   

  	
  WBAL
  Hearst-Argyle Television, Inc.

  
	
  WCVB-TV

  	
   

  	
  5

  	
   

  	
  ABC

  	
   

  	
  Boston,
  Massachusetts

  	
   

  	
  WCVB
  Hearst-Argyle Television, Inc.

  
	
  WDSU(TV)

  	
   

  	
  6

  	
   

  	
  NBC

  	
   

  	
  New
  Orleans, Louisiana

  	
   

  	
  New
  Orleans Hearst-Argyle Television, Inc.

  
	
  WESH(TV)

  	
   

  	
  2

  	
   

  	
  NBC

  	
   

  	
  Daytona
  Beach, Florida

  	
   

  	
  Orlando
  Hearst-Argyle Television, Inc.

  
	
  WGAL(TV)

  	
   

  	
  8

  	
   

  	
  NBC

  	
   

  	
  Lancaster,
  Pennsylvania

  	
   

  	
  WGAL
  Hearst-Argyle Television, Inc.

  
	
  WISN-TV

  	
   

  	
  12

  	
   

  	
  ABC

  	
   

  	
  Milwaukee,
  Wisconsin

  	
   

  	
  WISN
  Hearst-Argyle Television, Inc.

  
	
  WKCF(TV)

  	
   

  	
  18

  	
   

  	
  CW

  	
   

  	
  Clermont,
  Florida

  	
   

  	
  Orlando
  Hearst-Argyle Television, Inc.

  
	
  WLKY-TV

  	
   

  	
  32

  	
   

  	
  CBS

  	
   

  	
  Louisville,
  Kentucky

  	
   

  	
  WLKY
  Hearst-Argyle Television, Inc.

  
	
  WLWT(TV)

  	
   

  	
  5

  	
   

  	
  NBC

  	
   

  	
  Cincinnati,
  Ohio

  	
   

  	
  Ohio/Oklahoma
  Hearst-Argyle Television, Inc.

  
	
  WMOR-TV

  	
   

  	
  32

  	
   

  	
  IND

  	
   

  	
  Lakeland,
  Florida

  	
   

  	
  WMOR-TV
  Company

  
	
  WMTW-TV

  	
   

  	
  8

  	
   

  	
  ABC

  	
   

  	
  Poland
  Spring, Maine

  	
   

  	
  Hearst-Argyle
  Properties, Inc.

  
	
  WMUR-TV

  	
   

  	
  9

  	
   

  	
  ABC

  	
   

  	
  Manchester,
  New Hampshire

  	
   

  	
  Hearst-Argyle
  Properties, Inc.

  
	
  WNNE-TV

  	
   

  	
  31

  	
   

  	
  NBC

  	
   

  	
  Hartford,
  Vermont

  	
   

  	
  Hearst-Argyle
  Stations, Inc.

  
	
  WPBF(TV)

  	
   

  	
  25

  	
   

  	
  ABC

  	
   

  	
  Tequesta,
  Florida

  	
   

  	
  WPBF-TV
  Company

  
	
  WPTZ(TV)

  	
   

  	
  5

  	
   

  	
  NBC

  	
   

  	
  North
  Pole, New York

  	
   

  	
  Hearst-Argyle
  Stations, Inc.

  
	
  WTAE-TV

  	
   

  	
  4

  	
   

  	
  ABC

  	
   

  	
  Pittsburgh,
  Pennsylvania

  	
   

  	
  WTAE
  Hearst-Argyle Television, Inc.

  
	
  WXII-TV

  	
   

  	
  12

  	
   

  	
  NBC

  	
   

  	
  Winston-Salem,
  North Carolina

  	
   

  	
  WXII
  Hearst-Argyle Television, Inc.

  
	
  WYFF(TV)

  	
   

  	
  4

  	
   

  	
  NBC

  	
   

  	
  Greenville,
  South Carolina

  	
   

  	
  WYFF
  Hearst-Argyle Television, Inc.

  

 

9

 

APPENDIX B*

 

*  This information
has been redacted pursuant to a request for confidential treatment submitted to
the SEC on May 2, 2008.  We have filed the redacted material
separately with the SEC.

 

10

 

APPENDIX C*

 

*  This information
has been redacted pursuant to a request for confidential treatment submitted to
the SEC on May 2, 2008.  We have filed the redacted material
separately with the SEC.

 

11

 

APPENDIX D*

 

*  This information
has been redacted pursuant to a request for confidential treatment submitted to
the SEC on May 2, 2008.  We have filed the redacted material
separately with the SEC.

 

12

 

APPENDIX E

 

Sample Disclosure Language

 

The Company entered into two agreements dated April 2,
2008, with Lifetime Entertainment Services (“Lifetime”), an entity owned 50% by
an affiliate of Hearst and 50% by The Walt Disney Company, whereby Lifetime was
appointed as an agent by the Company to negotiate retransmission consent
agreements with certain multi-channel video programming distributors.

 

The Company believes that the material terms of the agency
agreements with Lifetime constitute competitive information and intends to seek
confidential treatment of that information. 
The Company estimates that the aggregate annual consideration amount
payable by Lifetime to the Company under the agency agreements (which amount
will be dependent upon whether certain agreements are entered into with the
multi-channel video programming distributors) will be less than         %
of the Company’s estimated 2008 net operating revenues.

 

13Exhibit 10.3

 

HEARST-ARGYLE TELEVISION, INC.

300 West 57th Street

New York, New York 10019

 

As of February 1,
2007

 

Mr. Frank C.
Biancuzzo

[ADDRESS ON FILE]

 

Dear Frank:

 

This letter
constitutes all of the terms of the Employment Agreement between you and Hearst-Argyle
Television, Inc. (“Hearst-Argyle”). 
It is subject to the approval of the Board of Directors of
Hearst-Argyle.  The terms are as follows:

 

	
  1.

  	
  Legal Name of Employee:

  	
  Frank C. Biancuzzo

  
	
   

  	
   

  	
   

  
	
  2.

  	
  Mailing Address of Employee:

  	
  [ADDRESS ON FILE]

  
	
   

  	
   

  	
   

  
	
  3.

  	
  Title of Position;
  Duties:

  	
  Senior Vice President

  

 

You agree to carry
out the duties assigned to you by the senior executives of Hearst-Argyle.  Hearst-Argyle has the right to assign you to
other duties consistent with those of other executives of your level.

 

4.                                       Length of Employment. 
The term of this Agreement will start on February 1, 2007 and
continue through December 31, 2008 (the “Term”).

 

5.                                       Salary.  You will
receive a base salary for all services to Hearst-Argyle as follows:

 

a)                                      $450,000
per year from February 1, 2007 through December 31, 2007 (prorated
for the partial year); and

 

b)                                     $475,000
per year from January 1, 2008 through December 31, 2008.

 

The salary will be
paid according to Hearst-Argyle’s payroll practices, but not less frequently than
twice a month.  You acknowledge that you
are not entitled to overtime pay.

 

In addition it is
understood that you are eligible to receive a bonus up to a maximum of 75% of
your base salary.  The criteria for the
bonus will be set by the Compensation Committee of the Board of Directors of
Hearst-Argyle, at its sole discretion.

 

 

The bonus is
payable only for as long as you work for Hearst-Argyle, and will be payable
only at the end of a complete bonus cycle and is not proratable, except in the
event of your death, when it will be proratable.

 

In determining the
amount of your bonus, the books and records of Hearst-Argyle are absolute and
final and not open to dispute by you. 
Hearst-Argyle will pay any bonus due you by March 31 of the year
following the year for which the bonus is applicable.

 

6.                                       Exclusive Services. 
You agree that you will work only for Hearst-Argyle, and will not render
services or give business advice, paid or otherwise, to anyone else, without
getting Hearst-Argyle’s written approval. 
However, you may participate as a member of the board of directors of
other organizations and in charitable and community organizations, but only if
such activities do not conflict or interfere with your work for Hearst-Argyle,
and if such work is approved in advance by Hearst-Argyle, which approval will
not be unreasonably withheld.  You
acknowledge that your services will be unique, special and original and will be
financially and competitively valuable to Hearst-Argyle, and that your
violation of this Paragraph will cause Hearst-Argyle irreparable harm for which
money damages alone would not adequately compensate Hearst-Argyle.  Accordingly, you acknowledge that if you
violate this Paragraph, Hearst-Argyle has the right to apply for and obtain
injunctive relief to stop such violation (without the posting of any bond, and
you hereby waive any bond-posting requirements in connection with injunctive
relief), in addition to any other appropriate rights and remedies it might
lawfully have.

 

7.                                       No Conflicts.  You
agree that there is no reason why you cannot make this Agreement with
Hearst-Argyle, including, but not limited to, having a contract, written or
otherwise, with another employer.

 

8.                                       Termination of Employment. 
Hearst-Argyle has the right to end this Agreement:

 

a)                                      Upon
your death; or

 

b)                                     For
any of the following: (i) indictment for a felony, (ii) failure to
carry out, or neglect or misconduct in the performance of, your duties
hereunder or a breach of this Agreement; (iii) failure to comply with applicable
laws with respect to the conduct of Hearst-Argyle’s business, (iv) theft,
fraud or embezzlement at Hearst-Argyle’s expense, (v) addiction to an
illegal drug, (vi) conduct or involvement in a situation that brings, or
may bring, you into public disrespect, tends to offend the community or any
group thereof, or embarrasses or reflects unfavorably on Hearst-Argyle’s
reputation, or (vii) failure to comply with the reasonable directions of
senior management.

 

 

9.                                       Payment for Plugs. 
You acknowledge that you are familiar with Sections 317 and 507 of the
Communications Act of 1934 and are aware that it is illegal without full
disclosure to promote products or services in which you have a financial
interest.  You agree not to participate
in any such promotion under any circumstances and understand that to do so is a
violation of law as well as a cause for termination.  Also, you agree that you will not become
involved in any financial situation which might compromise or cause a conflict
with your obligations under this Paragraph or this Agreement without first
talking with Hearst-Argyle about your intentions and obtaining Hearst-Argyle’s
written consent.

 

10.                                 Confidentiality.  You
agree that while employed by Hearst-Argyle and after this Agreement is terminated
or expires, you will not use or divulge or in any way distribute to any person
or entity, including a future employer, any confidential information of any
nature relating to Hearst-Argyle’s business. 
You will surrender to Hearst-Argyle at the end of your employment all
its property in your possession.  If you
breach this Paragraph, Hearst-Argyle has the right to apply for and obtain
injunctive relief to stop such a violation, in addition to its other legal
remedies, as outlined in Paragraph 6.

 

You agree to keep
the terms of this Agreement confidential from everybody except your
professional advisors and family.

 

11.                                 Non-Solicitation; Non-Hire. 
You agree that for two (2) years after the expiration or
termination of this Agreement, you will not hire, solicit, aid or suggest to
any (i) employee of Hearst-Argyle, its subsidiaries or affiliates, (ii) independent
contractor or other service provider or (iii) any customer, agency or
advertiser of Hearst-Argyle, its subsidiaries or affiliates to terminate such
relationship or to stop doing business with Hearst-Argyle, its subsidiaries or
affiliates.

 

If you violate
this provision, Hearst-Argyle will have the same right to injunctive relief as
outlined in Paragraph 6, as well as any other remedies it may have.  If any court of competent jurisdiction finds
any part of this Paragraph unenforceable as to its duration, scope, geographic
area or otherwise, it shall be deemed amended so as to permit it to be
enforced.

 

12.                                 Officer; Director.   
Upon request, you agree that you will serve as an officer or director,
in addition to your present position, of Hearst-Argyle or any affiliated
entity, without additional pay.

 

13.                                 Continuation of Agreement. 
This Agreement and your employment shall terminate upon the expiration of
the Term (unless terminated earlier pursuant to Paragraph 8 hereof), provided
that if Hearst-Argyle gives 

 

 

you written notice of
extension then this Agreement shall continue on a month-to-month basis until
the earlier of (i) the commencement of a renewal or extension agreement
between you and Hearst-Argyle, or (ii) termination of this Agreement by
either party on fifteen days written notice to the other.

 

14.                                 Assignment of Agreement. 
Hearst-Argyle has the right to transfer this Agreement to a successor,
to a purchaser of substantially all of its assets or its business or to any
parent, subsidiary, or affiliated corporation or entity and you will be
obligated to carry out the terms of this Agreement for that new owner or
transferee.  You have no right to assign
this Agreement, and any attempt to do so is null and void.

 

15.                                 State Law.  This
Agreement will be interpreted under the laws of the State of New York, without
regard to conflicts or choice of law rules.

 

16.                                 No Other Agreements. 
This Agreement is the only agreement between you and Hearst-Argyle.  It supersedes any other agreements,
amendments or understandings you and Hearst-Argyle may have had.  This Agreement may be amended only in a
written document signed by both parties.

 

17.                                 Approvals.  In any
situation requiring the approval of Hearst-Argyle, such approval must be given
by the President and Chief Executive Officer. 

 

18.                                 Dispute Resolution.  Hearst-Argyle and you expressly understand
and agree that any claim which either party may have against the other under
local, state or federal law including, but not limited to, matters of
discrimination, matters arising out of the termination or alleged breach of
this Agreement or the terms, conditions or termination of employment, which
cannot first be settled through direct discussions between the parties, will be
submitted to mediation and, if mediation is unsuccessful, to final and binding
arbitration in accordance with Hearst-Argyle’s Dispute Settlement Procedure (“Procedure”),
of which you have received a copy, provided that, Hearst-Argyle shall also be
entitled to bring any action or proceeding to seek equitable remedies for a
breach by you of the provisions of Paragraphs 6, 10 or 11 hereof.  During the pendency of any claim under this
Procedure, Hearst-Argyle and you agree to make no statement orally or in
writing regarding the existence of the claim or the facts forming the basis of
such claim, or any statement orally or in writing which could impair or
disparage the personal or business reputation of Hearst-Argyle or you.  The Procedure is hereby incorporated by
reference into this Agreement.

 

19.                                 Correspondence.  All
correspondence between you and Hearst-Argyle will be written and sent by
certified mail, return receipt requested, or by personal delivery or courier,
to the following addresses:

 

If to
Hearst-Argyle:                                                                                        Hearst-Argyle
Television, Inc.

 

	
   

  	
  300 W. 57th
  Street

  
	
   

  	
  New York, New York
  10019

  
	
   

  	
  Attn:

  	
  David J. Barrett

  
	
   

  	
  President and CEO

  

 

 

	
  with a copy to:

  	
  Hearst-Argyle
  Television, Inc.

  
	
   

  	
  300 W. 57th
  Street

  
	
   

  	
  New York, New York
  10019

  
	
   

  	
  Attn:  Jonathan C. Mintzer

  
	
   

  	
  Vice President, General
  Counsel & Secretary

  
	
   

  	
   

  
	
  If to Employee:

  	
  Frank C. Biancuzzo

  
	
   

  	
  [ADDRESS ON FILE]

  

 

Either party may
change its address in writing sent to the above addresses.

 

20.                                 Severability.  If a
court decides that any part of this Agreement is unenforceable, the rest of the
Agreement will survive.

 

 

21.                                 Originals of Agreement.          This
Agreement may be signed in any number of counterparts, each of which shall be
considered an original.

 

 

	
   

  	
  HEARST-ARGYLE
  TELEVISION, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
    /S/
  DAVID J. BARRETT

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:  

  	
  President and CEO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /S/
  FRANK C. BIANCUZZO

  
	
   

  	
   

  	
                      Frank
  C. Biancuzzo

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