Document:

Exhibit 10-11

Exhibit 10-11

MASTER ASSIGNMENT AND ASSUMPTION

Reference is made to (i) the Amended and Restated Competitive Advance and Revolving Credit
Agreement, dated as of March 11, 2002 and effective as of March 18, 2002 (the “2002 Credit
Agreement”), as amended and restated as of December 13, 2004 and effective as of January 5,
2005, as amended by the First Amendment thereto, dated as of February 28, 2007 and effective as of
March 15, 2007 and as further amended by the Second Amendment thereto, dated as of October 23, 2008
and effective as of October 31, 2008 and as further amended by the Third Amendment thereto, dated
as of September 28, 2009 and as further amended by the Fourth Amendment thereto, dated as of August
25, 2010 and as further amended by the Fifth Amendment thereto, dated as of September 30, 2010,
among Gannett, the lenders thereto, Bank of America, N.A., as initial administrative agent,
JPMorgan Chase Bank, N.A. and Citibank, N.A. as syndication agents and JPMorgan Chase Bank, N.A. as
successor administrative agent, and Barclays Bank PLC, as documentation agent, (ii) the Competitive
Advance and Revolving Credit Agreement, dated as of February 27, 2004 and effective as of March 15,
2004 (the “2004 Credit Agreement”), as amended by the First Amendment thereto, dated as of
February 28, 2007 and effective as of March 15, 2007 and as further amended by the Second Amendment
thereto, dated as of October 23, 2008 and effective as of October 31, 2008 and as further amended
by the Third Amendment thereto, dated as of September 28, 2009 and as further amended by the Fourth
Amendment thereto, dated as of August 25, 2010 and as further amended by the Fifth Amendment
thereto, dated as of September 30, 2010, among Gannett, the lenders thereto, Bank of America, N.A.,
as initial administrative agent, JPMorgan Chase Bank, N.A. and Citibank, N.A. as syndication agents
and JPMorgan Chase Bank, N.A. as successor administrative agent, and Barclays Bank PLC and Suntrust
Bank, as documentation agents, and (iii) the Competitive Advance and Revolving Credit Agreement,
dated as of December 13, 2004 and effective as of January 5, 2005 (the “2005 Credit
Agreement”), as amended by the First Amendment thereto, dated as of February 28, 2007 and
effective as of March 15, 2007 and as further amended by the Second Amendment thereto, dated as of
October 23, 2008 and effective as of October 31, 2008 and as further amended by the Third Amendment
thereto, dated as of September 28, 2009 and as further amended by the Fourth Amendment thereto,
dated as of August 25, 2010 and as further amended by the Fifth Amendment thereto, dated as of
September 30, 2010, among Gannett, the lenders thereto, Bank of America, N.A., as administrative
agent, JPMorgan Chase Bank, N.A. and Citibank, N.A. as syndication agents and JPMorgan Chase Bank,
N.A. as successor administrative agent, and Barclays Bank PLC, as documentation agent (the Credit
Agreements described in clauses (i), (ii) and (iii) above as amended, supplemented or otherwise
modified on or prior to the date hereof, the “Existing Credit Agreements” and after the
Extension Effective Date, the “Credit Agreements”). Unless otherwise defined herein, terms
defined in the Existing Credit Agreements and used herein shall have the meanings given to them in
the Existing Credit Agreements.

This Master Assignment and Assumption (the “Assignment and Assumption”) is dated as of
the Extension Effective Date (as defined in the Credit Agreements) and is entered into by and
between each of the Lenders listed on Schedule 1 (each an “Assignor”; collectively,
the “Assignors”) and each Assignee set forth on Schedule 1 (each an
“Assignee”; collectively, the “Assignees”).

Gannett has notified the Administrative Agent and the Lenders that, substantially
contemporaneously with the effectiveness of the Fifth Amendment and Waiver, the Five-Year
Commitments under the 2002 Credit Agreement shall be permanently reduced by $365,393,623.38, the
Five -Year Commitments under the 2004 Credit Agreement shall be permanently reduced by
$468,303,261.36 and the Five-Year Commitments under the 2005 Credit Agreement shall be permanently
reduced by $285,738,396.15 such that, following such reduction, the aggregate amount of Five-Year
Commitments under the Credit Agreements shall be $1,630,564,719.11. The Administrative Agent and
Lenders party hereto hereby waive any notice requirement in respect of such reduction pursuant
to Section 2.4 of the Existing Credit Agreements.

 

 

 

The Assignors and the Assignees hereto agree as follows:

1. The Assignors hereby irrevocably sell and assign to the Assignees without recourse to any
such Assignor, and the Assignees hereby irrevocably purchase and assume from the Assignors (in each
case, on a ratable basis in accordance with the amounts of the applicable Assigned Facility (as
defined below) to be purchased and assumed by such Assignee hereunder) without recourse to any such
Assignor, as of the Extension Effective Date, all of the respective interests of the Assignors
(with respect to each Assignee or Assignor, as applicable, its “Assigned Interest”) in and
to the Assignors’ rights and obligations in respect of their Five-Year Commitments under the
Existing Credit Agreements as set forth on Schedule 1 hereto (individually, an
“Assigned Facility”; collectively, the “Assigned Facilities”), in a principal
amount for each Assigned Facility as set forth on Schedule 1 hereto. The parties hereto
hereby agree that on the Extension Effective Date each Assignor shall receive payment in full from
the Assignees and Gannett of all outstanding principal and accrued interest and fees owing to it
except for any such amounts that will continue to be owing to it as a party to the Credit
Agreements. Each Assignee shall only be responsible for purchasing the assigned amount set forth
next to its name set forth on Schedule 1 and no Assignee shall be liable in any way for the failure
of any other Assignee to purchase any amounts to be purchased by such other Assignee.

2. No Assignor (a) makes any representation or warranty or assumes any responsibility with
respect to any statements, warranties or representations made in or in connection with the Existing
Credit Agreements or with respect to the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Existing Credit Agreements, any other Loan Document or any
other instrument or document furnished pursuant thereto, other than that such Assignor is the legal
and beneficial owner of the interest being assigned by it hereunder, has not created any adverse
claim upon the interest being assigned by it hereunder and that such interest is free and clear of
any such adverse claim or (b) makes any representation or warranty or assumes any responsibility
with respect to the financial condition of Gannett, any of its Affiliates or any other obligor or
the performance or observance by Gannett, any of its Affiliates or any other obligor of any of
their respective obligations under the Existing Credit Agreements or any other Loan Document or any
other instrument or document furnished pursuant hereto or thereto

3. Each Assignee (a) represents and warrants that it is legally authorized to enter into this
Master Assignment and Assumption; (b) confirms that it has received copies of the Existing Credit
Agreements and the Credit Agreements, together with copies of the financial statements delivered
pursuant to Section 5.1 of the Credit Agreements, and such other documents and information as it
has deemed appropriate to make its own credit analysis and decision to enter into this Master
Assignment and Assumption; (c) agrees that it will, independently and without reliance upon the
Assignor, the Administrative Agent or any Lender and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit decisions in taking or not
taking action under the Existing Credit Agreements and the Credit Agreements, the other Loan
Documents or any other instrument or document furnished pursuant hereto or thereto; (d) appoints
and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise
such powers and discretion under the Existing Credit Agreements and the Credit Agreements, the
other Loan Documents or any other instrument or document furnished pursuant hereto or thereto as
are delegated to the Administrative Agent by the terms thereof, together with such powers as are
incidental thereto; and (e) agrees that it will be bound by the provisions of the Existing Credit
Agreements and the Credit Agreements and will perform in accordance with their respective terms all
the obligations required to be performed by it as a Lender
including, if it is organized under the laws of a jurisdiction outside the United States, its
obligation pursuant to Section 2.15(d) of the Existing Credit Agreements and the Credit Agreements.

 

 

 

4. The effective date of this Master Assignment and Assumption shall be the Extension
Effective Date. For the avoidance of doubt, each Assignee shall have consented to the Credit
Agreements (and the amendments to the Existing Credit Agreements set forth therein) once all
conditions to effectiveness under the Credit Agreements (other than receipt by the Administrative
Agent of the signatures of the Assignees) have been satisfied.

5. Following the execution of this Master Assignment and Assumption, it will be delivered to
the Administrative Agent for acceptance by it and recording by the Administrative Agent pursuant to
the Existing Credit Agreements, effective as of the Extension Effective Date.

6. Upon such acceptance and recording, from and after the Extension Effective Date, the
Administrative Agent shall make all payments in respect of the applicable Assigned Interest
(including payments of principal, interest, fees and other amounts) to the applicable Assignor for
amounts which have accrued to the Extension Effective Date and to the applicable Assignee for
amounts which have accrued subsequent to the Extension Effective Date.

7. From and after the Extension Effective Date, (a) each Assignee shall be a party to the
applicable Credit Agreement(s) to which its Five-Year Commitments have been assigned hereunder, as
applicable, and, to the extent provided in this Master Assignment and Assumption, have the rights
and obligations of a Lender thereunder and under the other Loan Documents and shall be bound by the
provisions thereof and (b) each Assignor that has assigned all of its existing Five-Year
Commitments, relinquish its rights and be released from its obligations under the Existing Credit
Agreements and the Credit Agreements, if any. Each Assignee agrees to promptly execute and deliver
to Gannett and the Administrative Agent a counterpart of each Credit Agreement to which it becomes
a party hereunder.

8. This Master Assignment and Assumption shall be governed by, and construed in accordance
with, the laws of the State of New York.

IN WITNESS WHEREOF, the parties hereto have caused this Master Assignment and Assumption to be
executed as of the Extension Effective Date by their respective duly authorized officers.

 

 

 

Schedule 1

to the Master Assignment and Assumption with respect to

(i) the 2002 Credit Agreement,

(ii) the 2004 Credit Agreement, and

(iii) the 2005 Credit Agreement

Name of Assignor: Each Lender listed as an Assignor in the table below

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	2002 Credit	 	 	2004 Credit	 	 	2005 Credit	 	 	Principal	 
	 	 	Agreement	 	 	Agreement	 	 	Agreement	 	 	Amount	 
	Assignor	 	Assigned	 	 	Assigned	 	 	Assigned	 	 	Assigned	 
	Barclays Bank PLC
	 	 	(4,063,918.59	)	 	 	(8,257,132.61	)	 	 	(13,903,500.10	)	 	 	(26,224,551.30	)
	Comerica Bank
	 	 	(2,573,474.01	)	 	 	—	 	 	 	(9,518,616.02	)	 	 	(12,092,090.03	)
	First Hawaiian Bank
	 	 	(1,941,132.41	)	 	 	(5,760,729.92	)	 	 	(4,022,616.60	)	 	 	(11,724,478.93	)
	JPMorgan Chase Bank, N.A.
	 	 	(43,926,586.66	)	 	 	(33,051,555.74	)	 	 	(52,722,614.47	)	 	 	(129,700,756.87	)
	Mizuho Corporate Bank, Ltd.
	 	 	(8,492,464.20	)	 	 	(16,182,027.66	)	 	 	(14,753,854.84	)	 	 	(39,428,346.70	)
	Sumitomo
Mitsui Banking Corporation
	 	 	—	 	 	 	(26,173,720.66	)	 	 	(19,692,739.36	)	 	 	(45,866,460.02	)
	SunTrust Bank
	 	 	(3,655,834.32	)	 	 	(8,990,287.74	)	 	 	(8,107,104.69	)	 	 	(20,753,226.75	)
	The Bank of
Tokyo-Mitsubishi UFJ Ltd.,
New York Branch
	 	 	(7,977,769.41	)	 	 	(15,026,168.52	)	 	 	(17,609,439.66	)	 	 	(40,613,377.59	)
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	TOTALS
	 	 	(72,631,179.60	)	 	 	(113,441,622.85	)	 	 	(140,330,485.74	)	 	 	(326,403,288.19	)
	 
	 	 	 	 	 	 	 	 	 	 	 	 

 

 

 

Name of Assignee: Each Lender listed as an Assignee in the table below

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	2002 Credit	 	 	2004 Credit	 	 	2005 Credit	 	 	 	 
	 	 	Agreement	 	 	Agreement	 	 	Agreement	 	 	Principal Amount	 
	Assignee	 	Assumed	 	 	Assumed	 	 	Assumed	 	 	Assumed	 
	Capital One, N.A.
	 	 	—	 	 	 	—	 	 	 	31,162,177.65	 	 	 	31,162,177.65	 
	Citibank, N.A.
	 	 	20,738,157.72	 	 	 	29,536,804.05	 	 	 	8,392,011.37	 	 	 	58,666,973.14	 
	Fifth Third Bank
	 	 	10,467,078.16	 	 	 	16,292,516.29	 	 	 	3,502,751.66	 	 	 	30,262,346.11	 
	PNC Bank, N.A.
	 	 	—	 	 	 	—	 	 	 	79,504,963.18	 	 	 	79,504,963.18	 
	The Northern Trust Company
	 	 	7,805,232.14	 	 	 	6,606,014.10	 	 	 	1,439,567.16	 	 	 	15,850,813.40	 
	US Bank, National Association
	 	 	33,620,711.58	 	 	 	61,006,288.41	 	 	 	16,329,014.72	 	 	 	110,956,014.71	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	TOTALS
	 	 	72,631,179.60	 	 	 	113,441,622.85	 	 	 	140,330,485.74	 	 	 	326,403,288.19	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 

 

 

 

Post-Assignment Commitments: After giving effect to the assignments contemplated hereby,
but before giving effect to any reductions as described in Section 2.22(b)(c) of each Credit
Agreement, each person listed as an Extending Lender in the table below will have the following
Commitments:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	2002 Credit	 	 	2004 Credit	 	 	2005 Credit	 	 	 	 
	 	 	Agreement	 	 	Agreement	 	 	Agreement	 	 	Principal Amount	 
	Extending Lender	 	Commitment	 	 	Commitment	 	 	Commitment	 	 	Commitment	 
	Barclays Bank PLC
	 	$	62,348,537.72	 	 	$	93,546,172.12	 	 	$	56,004,348.64	 	 	$	211,899,058.48	 
	Capital One, N.A.
	 	$	0.00	 	 	$	0.00	 	 	$	38,152,962.52	 	 	$	38,152,962.52	 
	Citibank, N.A.
	 	$	86,713,689.97	 	 	$	132,650,880.95	 	 	$	77,426,012.01	 	 	$	296,790,582.93	 
	Comerica Bank
	 	$	14,903,488.18	 	 	$	0.00	 	 	$	25,435,308.35	 	 	$	40,338,796.53	 
	Fifth Third Bank
	 	$	27,944,040.35	 	 	$	45,129,503.90	 	 	$	13,115,080.86	 	 	$	86,188,625.11	 
	First Hawaiian Bank
	 	$	5,049,652.46	 	 	$	13,900,852.54	 	 	$	6,463,560.71	 	 	$	25,414,065.71	 
	JPMorgan Chase Bank, N.A.
	 	$	122,104,554.11	 	 	$	84,917,939.02	 	 	$	88,840,779.24	 	 	$	295,863,272.37	 
	Mizuho Corporate Bank, Ltd.
	 	$	49,181,511.01	 	 	$	81,688,960.58	 	 	$	39,424,727.94	 	 	$	170,295,199.53	 
	PNC Bank, N.A.
	 	$	0.00	 	 	$	0.00	 	 	$	114,458,887.55	 	 	$	114,458,887.55	 
	Sumitomo
Mitsui Banking Corporation
	 	$	0.00	 	 	$	26,257,165.90	 	 	$	15,261,185.01	 	 	$	41,518,350.91	 
	SunTrust Bank
	 	$	48,775,052.24	 	 	$	91,502,244.83	 	 	$	31,216,060.23	 	 	$	171,493,357.30	 
	The Bank of
Tokyo-Mitsubishi UFJ Ltd., New York Branch 
	 	$	46,200,813.37	 	 	$	75,854,034.85	 	 	$	47,055,320.43	 	 	$	169,110,168.65	 
	The Northern Trust Company
	 	$	35,768,371.64	 	 	$	32,821,457.38	 	 	$	17,168,833.13	 	 	$	85,758,662.15	 
	US Bank, National Association
	 	$	51,097,673.77	 	 	$	93,775,592.51	 	 	$	27,252,116.09	 	 	$	172,125,382.37	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Totals
	 	$	550,087,384.82	 	 	$	772,044,804.58	 	 	$	597,275,182.71	 	 	$	1,919,407,372.11	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 

Post-Reduction Commitments: After giving effect to the assignments contemplated hereby and
the subsequent reductions described in Section 2.22(b)(c) of each Credit Agreement, each person
listed as an Extending Lender in the table below will have the following Commitments:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	2002 Credit	 	 	2004 Credit	 	 	2005 Credit	 	 	 	 
	 	 	Agreement	 	 	Agreement	 	 	Agreement	 	 	Principal Amount	 
	Extending Lender	 	Commitment	 	 	Commitment	 	 	Commitment	 	 	Commitment	 
	Barclays Bank PLC
	 	$	34,862,385.32	 	 	$	53,440,366.98	 	 	$	36,697,247.70	 	 	$	125,000,000.00	 
	Capital One, N.A.
	 	$	0.00	 	 	$	0.00	 	 	$	25,000,000.00	 	 	$	25,000,000.00	 
	Citibank, N.A.
	 	$	48,486,238.53	 	 	$	75,779,816.51	 	 	$	50,733,944.96	 	 	$	175,000,000.00	 
	Comerica Bank
	 	$	8,333,333.33	 	 	$	0.00	 	 	$	16,666,666.67	 	 	$	25,000,000.00	 
	Fifth Third Bank
	 	$	15,625,000.00	 	 	$	25,781,250.00	 	 	$	8,593,750.00	 	 	$	50,000,000.00	 
	First Hawaiian Bank
	 	$	2,823,529.41	 	 	$	7,941,176.47	 	 	$	4,235,294.12	 	 	$	15,000,000.00	 
	JPMorgan Chase Bank, N.A.
	 	$	68,275,154.00	 	 	$	48,511,293.64	 	 	$	58,213,552.36	 	 	$	175,000,000.00	 
	Mizuho Corporate Bank, Ltd.
	 	$	27,500,000.00	 	 	$	46,666,666.66	 	 	$	25,833,333.34	 	 	$	100,000,000.00	 
	PNC Bank, N.A.
	 	$	0.00	 	 	$	0.00	 	 	$	75,000,000.00	 	 	$	75,000,000.00	 
	Sumitomo
Mitsui Banking Corporation 
	 	$	0.00	 	 	$	15,000,000.00	 	 	$	10,000,000.00	 	 	$	25,000,000.00	 
	SunTrust Bank
	 	$	27,272,727.27	 	 	$	52,272,727.28	 	 	$	20,454,545.45	 	 	$	100,000,000.00	 
	The Bank of
Tokyo-Mitsubishi UFJ Ltd., New York Branch 
	 	$	25,833,333.33	 	 	$	43,333,333.34	 	 	$	30,833,333.33	 	 	$	100,000,000.00	 
	The Northern Trust Company
	 	$	20,000,000.00	 	 	$	18,750,000.00	 	 	$	11,250,000.00	 	 	$	50,000,000.00	 
	US Bank, National Association
	 	$	28,571,428.57	 	 	$	53,571,428.57	 	 	$	17,857,142.86	 	 	$	100,000,000.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Totals
	 	$	307,583,129.76	 	 	$	441,048,059.45	 	 	$	391,368,810.79	 	 	$	1,140,000,000.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	BARCLAY’S BANK PLC, as an Assignor	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Noam Azachi	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Noam Azachi	 	 
	 

	 	Title:
	 	Assistant Vice President	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	Comerica Bank, as an Assignor	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Blake Arnett	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Blake Arnett	 	 
	 

	 	Title:
	 	Vice President	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	First Hawaiian Bank, as an Assignor	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Dawn Hofmann	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Dawn Hofmann	 	 
	 

	 	Title:
	 	Vice President	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A., as an Assignor	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Peter B. Thauer	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Peter B. Thauer	 	 
	 

	 	Title:
	 	Executive Director	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	MIZUHO CORPORATE BANK, LTD., as an Assignor	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Bertram H. Tang	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Bertram Tang	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	Sumitomo Mitsui Banking Corporation, as an Assignor	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Yoshihiro Hyakutome	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Yoshihiro Hyakutome	 	 
	 

	 	Title:
	 	General Manager	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	SUNTRUST BANK, as an Assignor	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Michael Vegh	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Michael Vegh	 	 
	 

	 	Title:
	 	Director	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	The Bank of Tokyo-Mitsubishi UFJ, Ltd., as an Assignor	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ George Stoecklein	 	 
	 	 	 	 	 
	 

	 	Name:
	 	George Stoecklein	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	The Bank of Tokyo-Mitsubishi UFJ Trust Company, as an Assignor	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ George Stoecklein	 	 
	 	 	 	 	 
	 

	 	Name:
	 	George Stoecklein	 	 
	 

	 	Title:
	 	Vice President	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	Capital One, N.A., as an Assignee	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Rick Larsen	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Rick Larsen	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	CITIBANK, N.A., as an Assignee	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Elisabeth Minnella Gonzalez	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Elisabeth Minnella Gonzalez	 	 
	 

	 	Title:
	 	Director and Vice President	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	FIFTH THIRD BANK, as an Assignee	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Randolph J. Stierer	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Randolph J. Stierer	 	 
	 

	 	Title:
	 	Vice President	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	PNC Bank, N.A., as an Assignee	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ D. Jermaine Johnson	 	 
	 	 	 	 	 
	 

	 	Name:
	 	D. Jermaine Johnson	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	The Northern Trust Company, as an Assignee	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Michael Kingsley	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Michael Kingsley	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	US Bank, National Association, as an Assignee	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Steven L. Sawyer	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Steven L. Sawyer	 	 
	 

	 	Title:
	 	Vice President	 	 

Extension Effective Date: September 30, 2010

 

 

 

	 	 	 	 	 	 	 
	Accepted for Recordation in the Register:	 	 
	 
	 	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A., as	 	 
	Administrative Agent	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Peter B. Thauer	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Peter B. Thauer	 	 
	 

	 	Title:
	 	Executive Director	 	 

 

 

 

	 	 	 	 	 	 	 
	Consented by:	 	 
	 
	 	 	 	 	 	 
	GANNETT CO., INC.	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Michael A. Hart	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Michael A. Hart	 	 
	 

	 	Title:
	 	Vice President & Treasurer	 	 

 

 

 

	 	 	 	 	 	 	 
	Consented by:	 	 
	 
	 	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A., as	 	 
	Administrative Agent	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Peter B. Thauer	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Peter B. Thauer	 	 
	 

	 	Title:
	 	Executive Director	 	 

 

 

 

	 	 	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A., as	 	 
	Issuing Lender	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Peter B. Thauer	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Peter B. Thauer	 	 
	 

	 	Title:
	 	Executive Director	 	 

 

 

 

	 	 	 	 	 	 	 
	BANK OF AMERICA, N.A., as	 	 
	Issuing Lender	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Peter van der Horst	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Peter van der Horst	 	 
	 

	 	Title:
	 	Senior Vice PresidentExhibit 10-13-2

Exhibit 10-13-2

GANNETT CO., INC.

Amendment to Craig A. Dubow

Employment Agreement

Pursuant to Section 18 of the Employment Agreement between Gannett Co., Inc. and Craig A.
Dubow, dated February 27, 2007 (the “Agreement”), the parties hereby amend the Agreement as of
December 24, 2010, as follows:

1. Section 5(c) is amended by deleting the last two sentences in that section and substituting
the following in its place:

The cash payment described in clause (c)(1) shall be made in a lump sum subject to
the condition that a valid release agreement (in the form attached hereto as Exhibit
B) with respect to claims which Dubow or his estate or beneficiaries may have
arising out of Dubow’s employment (the “Release”) is executed by Dubow’s estate or
beneficiaries and such Release must be effective and non-revocable. The lump sum
payment shall be made to Dubow’s estate on the sixty-fifth (65th) day
after the date of Dubow’s death; provided that such Release must become effective
and non-revocable by the sixty-fifth (65th) day after the date of Dubow’s
death and no payment is required if the Release does not become effective and
non-revocable by the sixty-fifth (65th) day after the date of Dubow’s
death.

2. The first sentence of Section 5(d) is amended by replacing “as of the date his employment
terminates (the “Termination Date”)” with “as of the date of his separation from service within the
meaning of Code Section 409A (the “Termination Date”)”.

3. Section 5(d) is amended by deleting the last sentence in that section and substituting the
following in its place:

The lump sum payment shall be made on the thirtieth (30th) day after the
Termination Date (the thirtieth (30th) day after Dubow’s Termination Date
is hereinafter referred to as the “Payment Date”); provided that such Release must
become effective and non-revocable before the Payment Date and no payment is
required if the Release does not become effective and non-revocable before the
Payment Date.

4. The second sentence of Section 7 is amended by replacing each occurrence of “within 65 days
after Dubow’s Termination Date” with “before the Payment Date”.

5. The first sentence of Section 7(d) is amended by replacing “provided that if the Release
does become effective and non-revocable within 65 days after Dubow’s Termination Date” with
“provided that if the Release does not become effective and non-revocable before the Payment Date”.

 

 

 

6. Section 20 is amended by adding the following sentence to the end of that section:

Any reference in this Agreement to “ceases employment”, “terminates employment”,
“employment terminates”, or similar phrase shall have the same meaning as
“separation from service” within the meaning of Code Section 409A.

7. The following new Exhibit B shall be added as an exhibit at the end of the Agreement.

 

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IN WITNESS WHEREOF, the parties have executed this Amendment to the Agreement as of the date
first set forth above.

	 	 	 	 	 
	 	GANNETT CO., INC.

 	 
	 	By:  	/s/ Roxanne V. Horning
 	 
	 	 	Roxanne V. Horning 	 
	 	 	Senior V.P./Human Resources 	 
	 	 	 
	 	By:  	                                                     /s/ Craig A. Dubow
 	 
	 	 	Craig A. Dubow 	 

 

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