Document:

Exhibit 10.37

 

ACCURIDE CORPORATION

NON-EMPLOYEE DIRECTOR RESTRICTED STOCK UNIT AWARD
AGREEMENT

ACCURIDE CORPORATION

2005 INCENTIVE AWARD PLAN (AS AMENDED AND RESTATED)

 

	
  Name:

  Address:  

   

   

   

  Taxpayer

  Identification
  Number:

   

   

   

  Signature:

  	
   

  	
  Grant: 5,000 Restricted Stock Units

   

   

  Grant Date: February 1, 20     

  

 

Effective
on the Grant Date, you have been granted the number of Restricted Stock Units
indicated above, which entitles you to receive 5,000 shares of common stock
(the “Stock”) of Accuride Corporation (the “Company”) in accordance with the
provisions of this Agreement and the provisions of the Accuride Corporation
2005 Incentive Award Plan, as amended and restated (the “Plan”).

 

The
Restricted Stock Units will fully vest and no longer be subject to the restrictions
of and forfeiture under this Agreement as follows:

 

	
  ·

  	
   

  	
  25% of the Restricted
  Stock Units will vest on the March 31 immediately following the Grant
  Date.

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  An additional 25% of the
  Restricted Stock Units will vest on the June 30 immediately following
  the Grant Date.

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  An additional 25% of the
  Restricted Stock Units will vest on the September 30 immediately
  following the Grant Date.

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  The final 25% of the
  Restricted Stock Units will vest on the first business day of the
  January immediately following the Grant Date.

  

 

In the event of the termination of your
service for any reason, whether such termination is occasioned by you or by the
Company, with or without cause or by mutual agreement (“Termination of
Service”), your right to receive and/or vest in any additional Restricted Stock
Units under the Plan, if any, will terminate and any unvested Restricted Stock
Units will be forfeited effective as of the date that you give or are provided
with written notice of the Termination of Service.

 

In accordance with the Plan, as of the
“Maturity Date” for a particular Restricted Stock Unit, the Company shall
transfer to you one unrestricted, fully transferable share of Stock in exchange
for that Restricted Stock Unit, subject to the deferral provisions described
below. The “Maturity Date” for a particular Restricted Stock Unit shall be the
date on which such Restricted Stock Unit vests. Notwithstanding the foregoing,
you may defer receipt of all or a portion of the Stock you are to receive

 

 

in settlement for your vested Restricted
Stock Units under the terms of the Accuride Corporation Directors’ Deferred
Compensation Plan (the “Deferred Compensation Plan”), provided that you make
your election to defer in accordance with the terms of the Deferred
Compensation Plan. Any such election must be made and become irrevocable on or
before December 31 of the year prior to the year in which you are granted
the Restricted Stock Units to which the election relates.

 

The
Restricted Stock Units or any interest or right therein or part thereof shall
not be subject to disposition by transfer, alienation, anticipation, pledge,
hypothecation, encumbrance, assignment or any other means, whether such
disposition be voluntary or involuntary or by operation of law by judgment,
levy, attachment, garnishment or any other legal or equitable proceedings
(including bankruptcy), and any attempted disposition thereof shall be null and
void and of no effect; provided that the Restricted Stock Units may be
transferable by will or the laws of descent and distribution.

 

The
Stock subject to the Restricted Stock Units will be delivered upon vesting in
settlement of the Restricted Stock Units. Until Stock is issued in settlement
of the Restricted Stock Units by virtue of this award, you will not be deemed
for any purpose to be, or have rights as, a Company shareholder or receive
Dividend Equivalents with respect to shares of Stock. You are not entitled to
vote any shares of Stock by virtue of this Award until the Stock is issued in
settlement of the Restricted Stock Units.

 

Section 409A of the Code imposes a number of
requirements on “non-qualified deferred compensation plans and arrangements.” Based
on final regulations issued by the Internal Revenue Service, the Company has
concluded that this award of Restricted Stock Units potentially is subject to Section 409A.
The Company also has concluded, however, that in the absence of an election to
defer receipt of the Stock you are to receive in settlement of your Restricted
Stock Units, as described above, the award of the Restricted Stock Units qualifies
for the short term deferral exception to Section 409A. In order to ensure
compliance with the short-term deferral exception, once the Restricted Stock
Units vest, unless you elect to defer receipt of the Stock, the Company shall
issue Stock in settlement of the Restricted Stock Units as soon as possible
thereafter and in any event by March 15 of the year following the year in
which the Restricted Stock Units vest. If it is administratively impracticable
to issue Stock in exchange for the vested Restricted Stock Units by the
relevant March 15 and such impracticability was unforeseeable as of the
date of this Agreement, the Stock shall be issued as soon as reasonably
practicable following the applicable March 15. Under no circumstances may
the time or schedule of receipt of Stock in settlement for Restricted Stock
Units be accelerated. In addition, except as provided herein or under the terms
of the Deferred Compensation Plan, no payment shall be subject to further
deferral except as otherwise permitted or required pursuant to regulations and
other guidance issued pursuant to Section 409A. This Agreement shall be
administered in compliance with the short-term deferral exception to Section 409A
of the Code and each provision of this Agreement shall be interpreted, to the
extent possible, to comply with the short-term deferral exception Section 409A.

 

Nothing
in the Plan or this Agreement shall be interpreted to interfere with or limit
in any way the right of the Company or any Subsidiary to terminate your
services at any time. In addition, nothing in the Plan or this Agreement shall
be interpreted to confer upon you the right to continue in the service of the
Company or any Subsidiary.

 

This
Restricted Stock Unit Award is granted under and governed by the terms and
conditions of the Plan. You acknowledge and agree that the Plan is
discretionary in nature and may be amended, cancelled, or terminated by the
Company, in its sole discretion, at any time. The grant of a Restricted Stock
Unit Award under the Plan is a one-time benefit and does not create any
contractual or other right

 

2

 

to
receive an award of Restricted Stock Units or benefits in lieu of Restricted
Stock Units in the future. Future awards of Restricted Stock Units, if any,
will be at the sole discretion of the Company, including, but not limited to,
the timing of the award, the number of Units and vesting provisions. The Plan
has been introduced voluntarily by the Company and in accordance with the
provisions of the Plan may be terminated by the Company at any time. By
execution of this Agreement, you consent to the provisions of the Plan and this
Agreement. Capitalized terms used herein shall have the meaning set forth in
the Plan, unless otherwise defined herein. 

 

 

	
  COMPANY:

  
	
   

  
	
  ACCURIDE
  CORPORATION

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  
	
  Its:

  	
   

  	
   

  

 

3Exhibit 10.1

 

EXECUTION
COPY

 

AGREEMENT

 

This Agreement, dated as of March 17, 2008 (the
“Agreement”), is by and among The New York Times Company, a New York
corporation (the “Company”), and the other parties signatory hereto
(collectively, the “HCP Investors”).

 

WHEREAS, the HCP Investors beneficially own (as defined
below) shares of Class A Common Stock, $0.10 par value, of the Company
(the “Common Stock”) as specified on Schedule A of this Agreement
(the “Shares”);

 

WHEREAS, prior to the date hereof the HCP Investors (i) delivered
a letter (the “Nomination Letter”) to the Company, dated as of January 25,
2008, nominating (the “HCP Nomination”) four individuals for election to
the Board of Directors of the Company (the “Board”) by the Class A
Stockholders (as defined below) and (ii) filed a preliminary proxy
statement on Schedule 14A with the Securities and Exchange Commission (the “SEC”)
related to the matters set forth in the Nomination Letter;

 

WHEREAS, the Company and the HCP Investors have agreed that
it is in their mutual interests to enter into this Agreement, which, among
other things, terminates the pending proxy contest for the election of
directors at the 2008 Annual Meeting (as defined below);

 

WHEREAS, the Company has agreed that the size of the Board
will be increased from thirteen to fifteen members, upon which, in accordance
with the Company’s Certificate of Incorporation, the number of directors
elected by Class A stockholders of the Company (the “Class A
Stockholders”) shall be increased from four to five and the number of
directors elected by Class B stockholders of the Company shall be
increased from nine to ten, such increase to be effective as of the end of the
2008 Annual Meeting;

 

WHEREAS, the Company has agreed that, in connection with
the Company’s 2008 Annual Meeting of Stockholders (including any adjournment or
postponement thereof in accordance with this Agreement, the “2008 Annual
Meeting”), the Board will nominate for election as a member of the Board,
and recommend that the Class A Stockholders vote to elect as a director of
the Company, Scott Galloway and James A. Kohlberg (each, an “HCP Investor
Nominee”; together, and including any Replacement HCP Nominee (as defined
below), the “HCP Investor Nominees”); and

 

WHEREAS, the HCP Investors have agreed, during the
Restricted Period (as defined below), to refrain from submitting any director
nominations and to vote for the election of the Company’s nominees for
directors at the 2008 Annual Meeting.

 

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

 

ARTICLE I

DEFINITIONS

 

Section 1.1                                      Defined Terms. For purposes
of this Agreement:

 

(a)                                  The term “Affiliate”
shall have the meaning set forth in Rule 12b-2 promulgated by the SEC
under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

 

 

(b)                                 The terms “beneficial
owner” and “beneficially own” have the same meanings as set forth in
Rule 13d-3 promulgated by the SEC under the Exchange Act except that a
person will also be deemed to beneficially own and to be the beneficial owner
of all shares of capital stock of the Company which such person has the right
to acquire pursuant to the exercise of any rights in connection with any
securities or any agreement, regardless of when such rights may be exercised
and whether they are conditional.

 

(c)                                  The term “Restricted
Period” means the period from the date of this Agreement through the
earlier of (i) the date that is 30 days prior to the first day of the
notice period specified in the Company’s advance notice bylaw (Section 7
of Article I of the Company’s By-laws) applicable to the Company’s 2009
Annual Meeting of Stockholders and (ii) such date, if any, as the Company
shall have materially breached any of its commitments or obligations set forth
hereunder and shall not have cured such breach after 10 days’ written notice
from the HCP Investors; provided, that the HCP Investors may terminate
the Restricted Period at any time by written notice to the Company if (x) the
Company refuses to grant its consent to a Replacement HCP Nominee as provided
in clause (ii) to Section 2.1(d) within ten days following the
request therefor or (y) the HCP Investor Nominees are removed from the
Board pursuant to Section 2.1(h) hereof.

 

Section 1.2                                      Interpretation.  When reference is made in this Agreement to a
Section, such reference shall be to a Section of this Agreement unless
otherwise indicated.  Whenever the words “include”,
“includes” or “including” are used in this Agreement, they shall be deemed to
be followed by the words “without limitation.” 
The words “hereof,” “herein,” “hereby” and “hereunder” and words of similar
import when used in this Agreement shall refer to this Agreement as a whole and
not to any particular provision of this Agreement.  The word “or” shall not be exclusive.  This Agreement shall be construed without
regard to any presumption or rule requiring construction or interpretation
against the party drafting or causing any instrument to be drafted.

 

ARTICLE
II

COVENANTS

 

Section 2.1                                      Board of
Directors, Annual Meeting and Related Matters.

 

(a)                                  Board Expansion.  As promptly as practicable following the date
of this Agreement, the Company shall increase the size of the Board from
thirteen to fifteen directors, such increase to be effective as of the end of
the 2008 Annual Meeting.

 

(b)                                 2008 Annual Meeting.  The Company shall use all reasonable best efforts
to cause the 2008 Annual Meeting to be held and the election of directors
thereat to be conducted on the scheduled date of April 22, 2008 and shall
not delay or postpone such meeting date or election, unless a quorum is not
obtained, in which case as promptly thereafter as practicable.

 

(c)                                  Nomination of New Directors. The Company
agrees that at the 2008 Annual Meeting, the Board will:

 

 

(1)                                  nominate each
of the HCP Investor Nominees as a director of the Company whose term shall
expire at the 2009 Annual Meeting; and

 

(2)                                  cause all
proxies received by the Company to be voted in the manner specified by such
proxies.

 

2

 

 

(d)                                 Replacement Directors.  If at any time during the Restricted Period
any HCP Investor Nominee refuses to serve, or is unable to serve as a director
of the Company as a result of such HCP Investor Nominee’s death, incapacity,
failure to be elected at the 2008 Annual Meeting or otherwise, then (i) the
HCP Investors shall be entitled to designate either Allen L. Morgan and Gregory
Shove as a replacement HCP Investor Nominee or (ii) if neither Mr. Morgan
nor Mr. Shove is willing or available to serve, then the HCP Investors
shall select another replacement HCP Investor Nominee subject, in the case of
this clause (ii), to the consent the Company, such consent not to be
unreasonably withheld, delayed or conditioned (any replacement HCP Investor
Nominee selected in accordance with clause (i) or (ii), a “Replacement
HCP Nominee”), and such Replacement HCP Nominee shall be deemed an HCP
Investor Nominee for all purposes of this Agreement.  In proposing an individual as a Replacement
HCP Nominee pursuant to clause (ii) of the immediately preceding sentence,
the HCP Investors shall provide the Company with such information regarding
such individual as would be required to nominate such individual as a director
pursuant to Section 7 of Article I of the Company’s By-laws.  In the event of the death, resignation,
retirement or removal from the Board of any HCP Investor Nominee during the
Restricted Period, the Board shall, as promptly thereafter as practicable,
cause such HCP Investor Nominee to be replaced with a Replacement HCP Nominee.

 

(e)                                  Efforts.  The Company shall use all reasonable best
efforts to ensure that each of the HCP Investor Nominees are elected by the Class A
Stockholders at the 2008 Annual Meeting.

 

(f)                                    Role of HCP Investor
Nominees.  Each of the
HCP Investor Nominees, upon election to the Board, will serve as an integral
member of the Board and will be governed by the same protections and
obligations regarding confidentiality, conflicts of interests, fiduciary
duties, trading and disclosure policies and other governance guidelines (it
being understood that such policies shall not restrict the activities of the
HCP Investors other than any HCP Investor Nominee) and shall have the same
rights and benefits, including with respect to insurance, indemnification,
compensation and fees, as are applicable to all independent directors of the Company.

 

(g)                                 Proxy Solicitation Materials. The Company
and the Board agree that the Company’s Proxy Statement and proxy cards for the
2008 Annual Meeting and all other solicitation materials to be delivered to
stockholders in connection with the 2008 Annual Meeting (in each case excepting
any materials delivered prior to the date hereof) shall be prepared in
accordance with, and in furtherance of, this Agreement.  The Company will provide the HCP Investors
with copies of any portion of proxy materials or other solicitation materials
that contain statements relating to the HCP Investors, the HCP Investor
Nominees or this Agreement a reasonable period (and, in any event, at least one
business day) in advance of filing such materials with the SEC or disseminating
the same in order to permit the HCP Investors a reasonable opportunity to
review and comment on such materials. 
The HCP Investors will provide, as promptly as reasonably practicable,
all information relating to the HCP Investor Nominees (and other information,
if any) to the extent required under applicable law to be included in the
Company’s Proxy Statement and any other solicitation materials to be delivered
to stockholders in connection with the 2008 Annual Meeting.  The Proxy Statement for the 2008 Annual
Meeting shall contain the same type and tenor of information concerning the HCP
Investor Nominees as provided for the Company’s other director nominees.

 

(h)                                 Stock Ownership.  If at any time during the Restricted Period
the HCP Investors together with their Affiliates fail to collectively
beneficially own at least 40% of the number of shares of the Company they
beneficially owned as of the record date for the 2008 Annual Meeting, the HCP
Investors shall cause one HCP Investor Nominee selected by the HCP Investors to
promptly tender his resignation from the Board. 
If at any time during the Restricted Period the HCP Investors together
with their Affiliates fail to collectively beneficially own at least 20% of the
number of shares of the Company they beneficially owned as of the record date
for the 2008 Annual Meeting (or, following the filing by the 

 

 

3

 

HCP Investors of a Schedule 13D reporting that such HCP Investors
together with their Affiliates no longer collectively beneficially own at least
5% of the outstanding shares of Common Stock, the HCP Investors fail to provide
reasonably satisfactory evidence to the Company, within three business days
following request by the Company (which may be made from time to time at
reasonable intervals), that the HCP Investors together with their Affiliates
collectively beneficially own at least 20% of the number of shares of the
Company they beneficially owned as of the record date for the 2008 Annual
Meeting), the HCP Investors shall cause each HCP Investor Nominee to promptly
tender his resignation from the Board. 
In furtherance of this Section 2.1(h), each HCP Investor Nominee
has on the date hereof delivered an executed irrevocable resignation as
director in the form attached hereto as Schedule C (and, in the case of
replacement nominees, such replacement shall deliver his or her executed
irrevocable resignation as director in such form prior to being appointed to
the Board).  For purposes of this Section 2.1(h),
to the extent a person enters into a transaction for the purpose and with the
effect of disposing of such person’s economic interests in shares of the
Company, including pursuant to any hedging transaction or other derivative
security, contract or instrument, then such person shall be deemed to have
disposed of such person’s beneficial ownership in a ratable portion of such
shares.

 

(i)                                     Committees.  Until the Company’s 2009 Annual Meeting of
Stockholders, so long as the HCP Investor Nominees serve on the Board, the
Company shall cause at least one HCP Investor Nominee to be a member of the
Nominating and Governance Committee of the Board and at least one HCP Investor
Nominee to be a member of the Compensation Committee of the Board.

 

(j)                                     Expenses.  Within five business days from the date of
this Agreement, the Company shall reimburse the HCP Investors an amount equal
to the HCP Investors’ actual out-of-pocket expenses incurred prior to the date
of this Agreement in connection with the HCP Nomination (the HCP Investors
shall provide reasonable documentation with respect to such expenses),
including the preparation of related filings with the SEC and the fees and
disbursements of counsel and other advisors, up to a maximum reimbursement of
$250,000, and the HCP Investors hereby agree that such payment shall be in full
satisfaction of any claims or rights it may have as of the date hereof for
reimbursement of fees, expenses or costs in connection with the HCP Nomination.

 

Section 2.2                                      Voting
Provisions.  During the
Restricted Period, the HCP Investors, together with their respective
Affiliates, will cause all shares of Common Stock for which they have the right
to vote as of the record date for the 2008 Annual Meeting to be present for
quorum purposes and to be voted at such meeting or at any adjournments or
postponements thereof, (a) in favor of each director nominated and
recommended by the Board for election at such meeting and (b) against any
stockholder nominations for director which are not approved and recommended by
the Board for election at such meeting.

 

Section 2.3                                      Other Actions
by the HCP Investors.  Each of the
HCP Investors agrees that, during the Restricted Period, neither it nor any of
its Affiliates will, without the written consent of the Company, directly or
indirectly, solicit proxies or written consents of stockholders with respect to
the election of directors of the Company, or conduct any nonbinding referendum
with respect to Common Stock with respect to the election of directors of the
Company, or make, or in any way participate in, any “solicitation” of any “proxy”
within the meaning of Rule 14a-1 promulgated by the SEC under the Exchange
Act (but without regard to the exclusion set forth in Rule 14a-1(l)(2)(iv) from
the definition of “solicitation”) to vote any shares of Common Stock with
respect to the election of directors of the Company, or become a “participant”
in any contested solicitation for the election of directors of the Company (as
such terms are defined or used under the Exchange Act and the Rules promulgated
thereunder) other than, in each case, solicitations or acting as a “participant”
in support of all of the Company’s nominees.

 

4

 

Section 2.4                                      Additional
Undertakings by the HCP Investors.  By executing this Agreement, the HCP
Investors hereby irrevocably withdraw their Nomination Letter and any
nominations to the Board made prior to the date hereof and agree to terminate
the pending proxy contest with respect to the election of directors at the 2008
Annual Meeting.  Within two business days
of the date of this Agreement, the HCP Investors shall file, or cause to be
filed on their behalf, with the SEC an amendment to its Schedule 13D with
respect to the Company disclosing the material contents of this Agreement.

 

Section 2.5                                      Publicity. Promptly
after the execution of this Agreement, the Company and the HCP Investors will
issue a joint press release in the form attached hereto as Schedule B.

 

ARTICLE III

OTHER PROVISIONS

 

Section 3.1                                      Representations
and Warranties.

 

(a)                                  Representations and
Warranties of the Company.  The
Company hereby represents and warrants 
that this Agreement and the performance by the Company of its
obligations hereunder (i) has been duly authorized, executed and delivered
by it, and is a valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms, (ii) does not require
the approval of the stockholders of the Company and (iii) does not and
will not violate any law, any order of any court or other agency of government,
the Certificate of Incorporation of the Company, as amended, or the By-Laws of
the Company, as amended, or any provision of any indenture, agreement or other
instrument to which the Company or any of its properties or assets is bound, or
conflict with, result in a breach of or constitute (with due notice or lapse of
time or both) a default under any such indenture, agreement or other
instrument, or result in the creation or imposition of, or give rise to, any lien,
charge, restriction, claim, encumbrance or adverse penalty of any nature
whatsoever pursuant to any such indenture, agreement or other instrument.

 

(b)                                 Representations and
Warranties of the HCP Investors.  Each of the HCP Investors represents and warrants
that this Agreement and the performance by each such HCP Investor of its
obligations hereunder (i) has been duly authorized, executed and delivered
by such HCP Investor, and is a valid and binding obligation of such HCP
Investor, enforceable against such HCP Investor in accordance with its terms, (ii) does
not require approval by any owners or holders of any equity interest in such
HCP Investor (except as has already been obtained) and (iii) does not and
will not violate any law, any order of any court or other agency of government,
the charter or other organizational documents of such HCP Investor, as amended,
or any provision of any agreement or other instrument to which such HCP
Investor or any of its properties or assets is bound, or conflict with, result
in a breach of or constitute (with due notice or lapse of time or both) a
default under any such agreement or other instrument, or result in the creation
or imposition of, or give rise to, any lien, charge, restriction, claim,
encumbrance or adverse penalty of any nature whatsoever pursuant to any such
agreement or instrument.  Each HCP
Investor hereby further represents and warrants that, as of the date hereof, it
is the beneficial owner of such number of shares of Common Stock as are set
forth with respect to such HCP Investor on Schedule A of this Agreement.

 

Section 3.2                                      Confidentiality.  The Company has no obligation to furnish
Confidential Information to the HCP Investors or its representatives by virtue
of this Agreement except for Confidential Information provided to the HCP
Nominees in their capacity as directors (and as nominees for director) of the
Company.  Each of the HCP Investors
hereby acknowledges that it is aware that the United States securities laws
prohibit any person who has material, non-public information with respect to
the Company from transacting in the securities of the Company or from
communicating such information to any other person under circumstances in which
it is reasonably foreseeable that such person is likely to 

 

5

 

transact in such
securities.  Each of the HCP Investors
agrees to comply with such laws and recognizes that the Company would be
damaged by its non-compliance.  The term “Confidential
Information” shall mean any information that is confidential to the
Company; provided that Confidential Information will not include information
which (i) becomes lawfully available to the public other than as a result
of a disclosure by the HCP Investors or its representatives, (ii) was
lawfully available to the HCP Investors on a non-confidential basis prior to
its disclosure to the Company or its representatives by the Company or on its
behalf or (iii) lawfully becomes available to the HCP Investors on a
non-confidential basis from a source other than the Company or the Company’s
representatives or agents, provided that such source is not bound by a
confidentiality agreement with the Company of which the HCP Investors have been
made aware.

 

Section 3.3                                      Remedies.

 

(a)                                  Each party hereto hereby
acknowledges and agrees, on behalf of itself and its Affiliates, that
irreparable harm would occur in the event any of the provisions of this
Agreement were not performed in accordance with their specific terms or were
otherwise breached.  It is accordingly
agreed that the parties will be entitled to specific relief hereunder,
including an injunction or injunctions to prevent and enjoin breaches of the
provisions of this Agreement and to enforce specifically the terms and
provisions hereof in any state or federal court in New York County in the State
of New York, in addition to any other remedy to which they may be entitled at
law or in equity.  Any requirements for
the securing or posting of any bond with such remedy are hereby waived.

 

(b)                                 Each party hereto agrees, on
behalf of itself and its Affiliates, that any actions, suits or proceedings
arising out of or relating to this Agreement or the transactions contemplated
hereby will be brought solely and exclusively in any state or federal court in
New York County in the State of New York (and the parties agree not to commence
any action, suit or proceeding relating thereto except in such courts), and
further agrees that service of any process, summons, notice or document by U.S.
registered mail to the respective addresses set forth in Section 3.5 will
be effective service of process for any such action, suit or proceeding brought
against any party in any such court. 
Each party, on behalf of itself and its Affiliates, irrevocably and
unconditionally waives any objection to the laying of venue of any action, suit
or proceeding arising out of this Agreement or the transactions contemplated
hereby, in the state or federal courts in New York County in the State of New
York, and hereby further irrevocably and unconditionally waives and agrees not
to plead or claim in any such court that any such action, suit or proceeding
brought in any such court has been brought in an improper or inconvenient
forum.

 

Section 3.4                                      Entire
Agreement. This Agreement contains the entire understanding of the parties
with respect to the subject matter hereof and may be amended only by an
agreement in writing executed by the parties hereto.

 

Section 3.5                                      Notices. All notices,
consents, requests, instructions, approvals and other communications provided
for herein and all legal process in regard hereto shall be in writing and shall
be deemed validly given, made or served, if (a) given by telecopy, when
such telecopy is transmitted to the telecopy number set forth below and the appropriate
confirmation is received or (b) if given by any other means, when actually
received during normal business hours at the address specified in this
subsection:

 

	
   

  	
  if
  to the Company:

  	
  The
  New York Times Company

  620
  Eighth Avenue

  New
  York, NY  10018

  
	
   

  	
   

  	
  Facsimile:

  	
  (646)
  428-6177

  
	
   

  	
   

  	
  Attention:

  	
  General
  Counsel

  
	
   

  	
   

  	
   

  

 

6

 

	
   

  	
   

  	
   

  
	
   

  	
  with
  a copy to:

  	
  Simpson
  Thacher & Bartlett LLP

  425
  Lexington Avenue

  New
  York, New York 10017

  
	
   

  	
   

  	
  Facsimile:

  	
  (212)
  455-2502

  
	
   

  	
   

  	
  Attention:

  	
  John
  Finley

  
	
   

  	
   

  	
   

  	
  Eric
  Swedenburg

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  if
  to the HCP Investors:

  	
  Harbinger
  Capital Partners NY, LLC

  555
  Madison Avenue, 16th Floor

  New
  York, NY  10022

  
	
   

  	
   

  	
  Facsimile:

  	
  (212)
  508 3721

  
	
   

  	
   

  	
  Attention:

  	
  General
  Counsel

  
	
   

  	
   

  	
   

  
	
   

  	
  with
  a copy to:

  	
  Paul,
  Weiss, Rifkind, Wharton & Garrison LLP

  1285
  Avenue of the Americas

  New
  York, NY  10019

  
	
   

  	
   

  	
  Facsimile:

  	
  (212)
  757-3990

  
	
   

  	
   

  	
  Attention:

  	
  Robert
  B. Schumer

  
	
   

  	
   

  	
   

  	
  Steven
  J. Williams

  
	
   

  	
   

  	
   

  
	
   

  	
  and
  to:

  	
  Harbinger
  Capital Partners

  One
  Riverchase Parkway South

  Birmingham,
  Alabama 35244

  
	
   

  	
   

  	
  Facsimile:

  	
  (205)
  987 5505

  
	
   

  	
   

  	
  Attention:

  	
  General
  Counsel

  
	
   

  	
   

  	
   

  

 

Section 3.6                                      Governing Law.  This Agreement shall be governed by and
construed and enforced in accordance with the laws of the State of New York.

 

Section 3.7                                      Further
Assurances.  Each party
agrees to take or cause to be taken such further actions, and to execute,
deliver and file or cause to be executed, delivered and filed such further
documents and instruments, and to obtain such consents, as may be reasonably
required or requested by the other party in order to effectuate fully the
purposes, terms and conditions of this Agreement.

 

Section 3.8                                      Third-Party
Beneficiaries. This Agreement shall inure to the benefit of and
be binding upon the parties hereto and their respective successors and assigns,
and nothing in this Agreement is intended to confer on any person other than
the parties hereto or their respective successors and assigns, any rights,
remedies, obligations or liabilities under or by reason of this Agreement.

 

Section 3.9                                      Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.

 

[Remainder of Page Left Blank Intentionally]

 

7

 

 

IN WITNESS WHEREOF, each of the parties hereto has
executed this Agreement, or caused the same to be executed by its duly
authorized representative as of the date first above written.

 

	
   

  	
  THE NEW YORK TIMES COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Rhonda L. Brauer

  
	
   

  	
  Name:

  	
  Rhonda L. Brauer

  
	
   

  	
  Title:

  	
  Secretary and Corporate Governance

  Officer

  

 

	
   

   

  	
  HCP INVESTORS:

  

  HARBINGER CAPITAL PARTNERS 

  MASTER FUND I, LTD.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Harbinger Capital Partners Offshore Manager,

  L.L.C.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  HMC Investors, L.L.C., 

  
	
   

  	
   

  	
  Managing Member

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles D. Miller

  
	
   

  	
  Name:

  	
  Charles D. Miller

  
	
   

  	
  Title:

  	
  Executive Vice President

  

 

	
   

  	
  HARBINGER CAPITAL PARTNERS 

  OFFSHORE MANAGER, L.L.C.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  HMC Investors, L.L.C., 

  
	
   

  	
   

  	
  Managing Member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles D. Miller

  
	
   

  	
  Name:

  	
  Charles D. Miller

  
	
   

  	
  Title:

  	
  Executive Vice President

  

 

	
   

  	
   

  	
   

  
	
   

  	
  HMC INVESTORS, L.L.C.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles D. Miller

  
	
   

  	
  Name:

  	
  Charles D. Miller

  
	
   

  	
  Title:

  	
  Executive Vice President

  

 

 

 

 

	
   

  	
   

  	
   

  
	
   

  	
  HARBINGER CAPITAL PARTNERS 

  SPECIAL SITUATIONS FUND, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Harbinger Capital Partners Special Situations GP, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  HMC – New York, Inc.

  Managing Member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles D. Miller

  
	
   

  	
  Name:

  	
  Charles D. Miller

  
	
   

  	
  Title:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  

 

	
   

  	
   

  	
   

  
	
   

  	
  HARBINGER CAPITAL PARTNERS 

  SPECIAL SITUATIONS GP, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  HMC – New York, Inc.

  Managing Member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles D. Miller

  
	
   

  	
  Name:

  	
  Charles D. Miller

  
	
   

  	
  Title:

  	
  Executive Vice President

  

 

	
   

  	
   

  	
   

  
	
   

  	
  HMC – NEW YORK,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles D. Miller

  
	
   

  	
  Name:

  	
  Charles D. Miller

  
	
   

  	
  Title:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  

 

	
   

  	
   

  	
   

  
	
   

  	
  Harbert Management Corporation 

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles D. Miller

  
	
   

  	
  Name:

  	
  Charles D. Miller

  
	
   

  	
  Title:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  

 

 

 

	
   

  	
   

  	
   

  
	
   

  	
  HARBINGER CAPITAL PARTNERS NY, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Harbinger Capital Partners Master Fund I, Ltd., its manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Harbinger Capital Partners Offshore 

  Manager, L.L.C., its investment manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  HMC Investors, L.L.C., its managing member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles D. Miller

  
	
   

  	
  Name:

  	
  Charles D. Miller

  
	
   

  	
  Title:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  

 

	
   

  	
   

  	
   

  
	
   

  	
  FIREBRAND INVESTMENTS, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Scott Galloway

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Scott Galloway

  
	
   

  	
  Title:

  	
  Founder and CIO

  
	
   

  	
   

  	
   

  

 

 

 

 

SCHEDULE A

 

As of March 17,
2008, the HCP Investors together with their Affiliates collectively
beneficially own an aggregate of 27,222,634 share of Common Stock. The
beneficial ownership of each of the HCP Investors is as follows:

 

1.                           Harbinger Capital Partners NY, LLC (“Harbinger
NY”) may be deemed to be the beneficial owner of 27,222,434 shares of
Common Stock.

 

2.                           Harbinger
Capital Partners Master Fund I, Ltd. (the “Master Fund”), by virtue of
its control over the voting and disposition of the shares of Common Stock
acquired by Harbinger NY with shares of Common Stock contributed to Harbinger
NY or acquired by Harbinger NY capital contributed to Harbinger NY by the
Master Fund, may be deemed to be the beneficial owner of 15,801,188 shares of
Common Stock.

 

3.                           Harbinger
Capital Partners Offshore Manager, L.L.C. may be deemed to be the beneficial
owner of 15,801,188 shares of Common Stock (such shares of Common Stock held by
the Master Fund and acquired with shares of Common Stock contributed to
Harbinger NY or acquired by Harbinger NY capital contributed to Harbinger NY by
the Master Fund).

 

4.                           HMC Investors,
L.L.C. may be deemed to be the beneficial owner of 15,801,188 shares of Common
Stock (such shares of Common Stock held by the Master Fund and acquired with
shares of Common Stock contributed to Harbinger NY or acquired by Harbinger NY
capital contributed to Harbinger NY by the Master Fund).

 

5.                           Harbinger
Capital Partners Special Situations Fund, L.P. (the “Special Fund”), by
virtue of its control over the voting and disposition of the Shares acquired by
Harbinger NY with shares of Common Stock contributed to Harbinger NY or
acquired by Harbinger NY capital contributed to Harbinger NY by the Special
Fund, may be deemed to be the beneficial owner of 11,421,446 shares of Common
Stock.

 

6.                           Harbinger
Capital Partners Special Situations GP, LLC may be deemed to be the beneficial
owner of 11,421,446 shares of Common Stock (such shares of Common Stock held by
the Special Fund and acquired with shares of Common Stock contributed to
Harbinger NY or acquired by Harbinger NY capital contributed to Harbinger NY by
the Special Fund).

 

7.                           HMC - New York, Inc.
may be deemed to be the beneficial owner of 11,421,446 shares of Common Stock
(such shares of Common Stock held by the Special Fund and acquired with shares
of Common Stock contributed to Harbinger NY or acquired by Harbinger NY capital
contributed to Harbinger NY by the Special Fund).

 

8.                           Harbert
Management Corporation may be deemed to be the beneficial owner of 27,222,634
shares of Common Stock (such shares of Common Stock held by the Master Fund and
the Special Fund and acquired with shares of Common Stock contributed to
Harbinger NY or acquired by Harbinger NY capital contributed to Harbinger NY by
the Master Fund and the Special Fund).

 

9.                           As of the date
hereof, Firebrand Investments, LLC may be deemed to be the beneficial owner of
0 Shares.

 

 

 

SCHEDULE B

 

[Form of Press Release]

 

 

 

	
  

  

 

Press
Release

 

 

	
  Contacts:

  	
  For The New York Times Company:

  Catherine J. Mathis, 212-556-1981; E-mail:  mathis@nytimes.com

  
	
   

  	
   

  For Harbinger Capital Partners and Firebrand
  Partners:

  Andy Merrill/Tripp Kyle, 212-303-7600; E-mail:
  andy.merrill@finsbury.com,

  tripp.kyle@finsbury.com 

  
	
   

  	
   

  This press release can be downloaded from www.nytco.com  

  

 

 

THE NEW YORK TIMES COMPANY, HARBINGER
CAPITAL AND FIREBRAND 

PARTNERS AGREE TO SETTLE PROXY CONTEST

 

NEW YORK, March 17,
2008 — The New York Times Company, the Harbinger Capital Partners Funds (“Harbinger”)
and Firebrand Partners (“Firebrand”) announced today that they have reached an
agreement under which Scott Galloway, founder of Firebrand, and James Kohlberg,
chairman of Kohlberg & Company, will be added to the slate of Class A
candidates nominated by the Board for election at the annual meeting of
shareholders on April 22, 2008.  The
size of the Board will be increased from 13 to 15 directors.  As a condition to the agreement, Harbinger
and Firebrand have agreed to cease their efforts to elect a slate of four
nominees to the Times Company’s Board of Directors at the 2008 annual meeting.

 

The other Class A
nominees will be Robert E. Denham, Thomas Middelhoff and Doreen A. Toben.  William E. Kennard, previously nominated to
stand for election by the Class A shareholders, will now stand for
election by the Class B shareholders. 
Harbinger and Firebrand have agreed to vote their Class A shares in
favor of the Company’s recommended five-person slate.

 

Chairman Arthur Sulzberger, Jr.
said, “We are pleased to have reached an agreement with Harbinger and
Firebrand.  Both the Board and management
welcome the perspectives and insights of our proposed new directors.”

 

Philip A. Falcone, senior managing
director of Harbinger, stated, “Our nominees look forward to working with the
other directors and management to build and deliver value for all shareholders.”

 

About The New York Times Company

 

The New York Times Company
(NYSE: NYT), a leading media company with 2007 revenues of $3.2 billion,
includes The New York Times, the International Herald Tribune, The Boston
Globe, 15 other daily newspapers, WQXR-FM and more than 50  Web
sites, including NYTimes.com, Boston.com and About.com.  The Company’s core purpose is to enhance
society by creating, collecting and distributing high-quality news, information
and entertainment.

 

 

 

About the
Harbinger Capital Partners Funds

 

Founded in 2001 by Philip A.
Falcone and Harbert Management Corporation, Harbinger Capital Partners has
grown to one of the 15 largest hedge funds, by assets, in America.  Harbinger’s mission is to achieve superior
returns through investments in distressed/high yield securities, special
situations and private loans and notes.  
The firm consists of a team of investment professionals who seek to
develop investment opportunities through analytical rigor coupled with a
contrarian viewpoint.

 

About
Firebrand Partners, LLC

 

Firebrand Partners is an
operational activist firm that invests in publicly-traded companies whose brand
equity represents significant upside relative to their market
capitalization.  The firm seeks
opportunities where its domain expertise and shareholder position can serve as
the catalyst for unlocking value.

 

# # #

 

 

2

 

SCHEDULE C

 

[Form of Irrevocable
Resignation]

 

[Date]

 

Attention:
Chairperson of the Board of Directors

 

Reference
is made to the Agreement, dated as of March 17, 2008 (the “Agreement”), by and among The New York Times Company (the “Company”) and the HCP Investors (as defined therein).  Capitalized terms used but not defined herein
(and terms otherwise defined in the Agreement and used herein) shall have the
meanings assigned to such terms in the Agreement.

 

In
accordance with Section 2.1(h) of the Agreement, regarding stock
ownership of the HCP Investors together with their Affiliates, I hereby tender
my conditional resignation as a director of the Board, provided that this
resignation shall be effective upon the Board’s acceptance of this resignation,
and only in the event that:

 

(i) [at any time during the Restricted Period the HCP Investors
together with their Affiliates fail to collectively beneficially own at least
40% of the number of shares of the Company they beneficially owned as of the
record date for the 2008 Annual Meeting] [Only one of HCP Nominee’s
resignation letters to contain this provision]; or

 

(ii) at any time during the Restricted Period the HCP Investors
together with their Affiliates fail to collectively beneficially own at least
20% of the number of shares of the Company they beneficially owned as of the
record date for the 2008 Annual Meeting, or, following the filing by
the HCP Investors of a Schedule 13D reporting that such HCP Investors together
with their Affiliates no longer collectively beneficially own at least 5% of
the outstanding shares of Common Stock, the HCP Investors fail to provide
reasonably satisfactory evidence to the Company, within three business days
following request by the Company (which may be made from time to time at
reasonable intervals), that the HCP Investors together with their Affiliates
collectively beneficially own at least 20% of the number of shares of the
Company they beneficially owned as of the record date for the 2008 Annual
Meeting.

 

This
resignation may not be withdrawn by me at any time during which it is
effective.

 

	
   

  	
  Very
  truly yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Director

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