Document:

1983 Restricted Stock Award Plan

 Exhibit 10.6 
 THE COCA-COLA COMPANY 
 1983 RESTRICTED STOCK AWARD PLAN  
 (As Amended through December 1, 2007) 
 SECTION 1.
PURPOSE 
 The purpose of the 1983 Restricted Stock Award Plan of The Coca-Cola Company (the “Plan”) is to advance the interest of
The Coca-Cola Company (the “Company”) and its Related Companies (as defined in Section 4 hereof), by encouraging and enabling the acquisition of a financial interest in the Company by officers and other key employees through grants of
restricted shares of Company Common Stock (the “Awards”, or singly, an “Award”) and, for Awards prior to January 1, 2008, through reimbursement by the Company of amounts payable by such persons as a consequence of any such
Award (the “Cash Amount”). The Plan is intended to aid the Company and its Related Companies in retaining officers and key employees, to stimulate the efforts of such employees and to strengthen their desire to remain in the employ of the
Company and its Related Companies. In addition, the Plan may also aid in attracting officers and key employees who will become eligible to participate in the Plan after a reasonable period of employment by the Company or its Related Companies.

 SECTION 2. ADMINISTRATION 
 The Plan shall be
administered by a committee (the “Committee”) appointed by the Board of Directors of the Company (the “Board”) from among its members and shall be comprised of not less than three (3) members of the Board. Unless and until
its members are not qualified to serve on the Committee pursuant to the provisions of the Plan, the Compensation Committee of the Board shall function as the Committee. Members of the Committee shall be members of the Board who are not eligible to
participate under the Plan and who have not been eligible to participate in the Plan for at least one year prior to the time they become members of the Committee. The Committee shall determine the officers and key employees of the Company and its
Related Companies (including officers, whether or not they are directors) to whom, and the time or times at which, Awards will be granted, the number of shares to be awarded, the time or times within which the Awards may be subject to forfeiture,
and all other conditions of the Award. The provisions of the Awards need not be the same with respect to each recipient. 
 The Committee is
authorized, subject to the provisions of the Plan, to establish such rules and regulations as it deems necessary or advisable for the proper administration of the Plan and to take such other action in connection with or in relation to the Plan as it
deems necessary or advisable. Each action made or taken pursuant to the Plan, including interpretation of the Plan and the Awards granted hereunder by the Committee, shall be final and conclusive for all purposes and upon all persons, including but
without limitation, the Company and its Related Companies, the Committee, the Board, the officers and the affected employees of the Company and/or its Related Companies and their respective successors in interest. 

 SECTION 3. STOCK 
 The stock to be issued under the Plan pursuant to Awards shall be shares of Common Stock, $.25 par value, of the Company (the “Stock”). The Stock shall be made available from treasury or authorized and unissued shares of Common
Stock of the Company. The total number of shares of Stock that may be issued pursuant to Awards under the Plan, including those already issued, may not exceed 24,000,000 shares (which number reflects stock splits subsequent to adoption of the Plan).
Such numbers of shares shall be subject to adjustment in accordance with Section 8. Shares of Stock previously granted pursuant to Awards, but which are forfeited pursuant to Section 5, below, shall be available for future Awards.

 SECTION 4. ELIGIBILITY 
 Awards may be granted
to officers and key employees of the Company and its Related Companies who have been employed by the Company or a Related Company (but only if the Related Company is one in which the Company owns on the grant date, directly or indirectly, either
(i) 50% or more of the voting stock or capital where such entity is not publicly held, or (ii) an interest which causes the Related Company’s financial results to be consolidated with the Company’s financial results for financial
reporting purposes) for a reasonable period of time determined by the Committee. The term “Related Company” shall mean any corporation or other business organization in which the Company owns, directly or indirectly, 20 percent or
more of the voting stock or capital at the applicable time. No employee shall acquire pursuant to Awards granted under the Plan more than twenty (20) percent of the aggregate number of shares of Stock issuable pursuant to Awards under the Plan.

 SECTION 5. AWARDS 
 Except as otherwise
specifically provided in the grant of an Award, Awards shall be granted solely for services rendered to the Company or any Related Company by the employee prior to the date of the grant and shall be subject to the following terms and conditions:

 (a) The Stock subject to an Award shall be forfeited to the Company if the employment of the employee by the Company or a Related
Company terminates for any reason (including, but not limited to, termination by the Company, with or without cause) other than death, “Retirement”, as hereinafter defined, provided that such Retirement occurs at least five (5) years
from the date of grant of an Award and also provided that the employee has attained the age of 62, or disability (within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended), prior to a “Change in Control”
of the Company as hereinafter defined. “Retirement”, as used herein, shall mean an employee’s voluntarily leaving the employ of the Company or a Related Company on a date which is on or after the earliest date on which such employee
would 

 
be eligible for an immediately payable benefit pursuant to (i) for those employees eligible for participation in the Company’s Supplemental
Retirement Plan, the terms of that Plan and (ii) for all other employees, the terms of the Employees Retirement Plan (the “ERP”) assuming such employees were eligible to participate in the ERP. 
 (b) If at any time the recipient Retires on a date which is at least five (5) years from the date of grant of an Award and on or after the date
on which the employee has attained the age of 62, dies or becomes disabled, or in the event of a “Change in Control” of the Company, as hereinafter defined, prior to such Retirement, death or disability, such recipient shall be entitled to
retain the number of shares subject to the Award. A “Change in Control” shall mean a change in control of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated
under the Securities Exchange Act of 1934 (the “Exchange Act”) as in effect on November 15, 1988, provided that such a change in control shall be deemed to have occurred at such time as (i) any “person” (as that term is
used in Sections 13(d) and 14(d)(2) of the Exchange Act), is or becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) directly or indirectly, of securities representing 20% or more of the combined voting power for
election of directors of the then outstanding securities of the Company or any successor of the Company; (ii) during any period of two consecutive years or less, individuals who at the beginning of such period constituted the Board of Directors
of the Company cease, for any reason, to constitute at least a majority of the Board of Directors, unless the election or nomination for election of each new director was approved by a vote of at least two-thirds of the directors then still in
office who were directors at the beginning of the period; (iii) the shareholders of the Company approve any merger or consolidation as a result of which the Stock shall be changed, converted or exchanged (other than a merger with a wholly-owned
subsidiary of the Company) or any liquidation of the Company or any sale or other disposition of 50% or more of the assets or earning power of the Company; or (iv) the shareholders of the Company approve any merger or consolidation to which the
Company is a party as a result of which the persons who were shareholders of the Company immediately prior to the effective date of the merger or consolidation shall have beneficial ownership of less than 50% of the combined voting power for
election of directors of the surviving corporation following the effective date of such merger or consolidation; provided, however, that no Change in Control shall be deemed to have occurred if, prior to such time as a Change in Control would
otherwise be deemed to have occurred, the Board of Directors determines otherwise. 
 (c) For Awards prior to January 1, 2008,
within sixty (60) days of the date of death, disability or Retirement on a date which is at least five (5) years from the date of grant of an Award and on or after the date on which the employee has attained the age of 62, and immediately
upon a “Change in Control” as described in subparagraphs (a) and (b) of this Section 5, the Company shall pay to the recipient of an Award an amount equal to the Cash Amount less any amounts required by law to be withheld
with respect to the Award and the Cash Amount, such Cash Amount not to exceed the federal, state and local taxes such recipient must pay as a result of the fair market value of the Award being included in income for federal, state and local income
tax purposes. For purposes of this 

 
subparagraph 5(c) the fair market value of an Award shall be the average of the high and low market prices at which a share of Stock shall have been sold on
the date of death, disability, such Retirement or a Change in Control, or on the next preceding trading day, if such date is not a trading day, as reported on the New York Stock Exchange—Composite Transactions listing or as otherwise determined
by the Committee. Effective January 1, 2008, no Awards under this Plan shall be eligible for the Cash Amount. 
 (d) Awards may
contain such other provisions, not inconsistent with the provisions of the Plan, as the Committee shall determine appropriate from time to time. 
 SECTION
6. NONTRANSFERABILITY OF AWARDS 
 Shares of Stock subject to Awards shall not be transferable and shall not be sold, exchanged, transferred,
pledged, hypothecated or otherwise disposed of at any time prior to the first to occur of Retirement on a date which is at least five (5) years from the date of grant of an Award and on or after the date on which the employee has attained the
age of 62, death or disability of the recipient of an Award or a Change in Control. 
 SECTION 7. RIGHTS AS A STOCKHOLDER 
 An employee who receives an Award shall have rights as a stockholder with respect to Stock covered by such Award to receive dividends in cash or other
property or other distributions or rights in respect to such Stock and to vote such Stock as the record owner thereof. 
 SECTION 8. ADJUSTMENT IN THE NUMBER
OF SHARES AWARDED 
 In the event there is any change in the Stock through the declaration of stock dividends, through stock splits or through
recapitalization or merger or consolidation or combination of shares or otherwise, the Committee or the Board shall make an appropriate adjustment in the number of shares of Stock thereafter available for Awards. 
 SECTION 9. TAXES 
 (a) If any employee properly elects,
within thirty (30) days of the date on which Award is granted, to include in gross income for federal income tax purposes an amount equal to the fair market value (on the date of grant of the Award) of the Stock subject to the Award, such
employee shall make arrangements satisfactory to the Committee to pay to the Company in the year of such Award, any federal, state or local taxes required to be withheld with respect to such shares. If such employee shall fail to make such tax
payments as are required, the Company and its Related Companies shall, to the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to the employee any federal, state or local taxes of any kind required by law
to be withheld with respect to the Stock subject to such Award. 

 (b) Each employee who does not make the election described in subparagraph (a) of this Section
shall, no later than the date as of which the restrictions referred to in Section 5 and such other restrictions as may have been imposed as a condition of the Award, shall lapse, pay to the Company, or make arrangements satisfactory to the
Committee regarding payment of any federal, state, or local taxes of any kind required by law to be withheld with respect to the Stock subject to such Award, and the Company and its Related Companies shall, to the extent permitted by law, have the
right to deduct from any payment of any kind otherwise due to the employee any federal, state, or local taxes of any kind required by law to be withheld with respect to the Stock subject to such Award. 
 (c) The Committee may specify when it grants an Award that the Award is subject to mandatory share withholding for satisfaction of tax withholding
obligations (not including withholding owed on payment of the Cash Amount) by employees. For all other Awards, whether granted before or after this paragraph 9(c) was added to this Plan, tax withholding obligations (not including withholding
owed on payment of the Cash Amount) of an employee may be satisfied by share withholding, if permitted by applicable law, at the written election of the employee prior to the date the restrictions on the Award lapse. The shares withheld will be
valued at the average of the high and low market prices at which a share of Stock was sold on the date the restrictions lapse (or, if such date is not a trading day, then the next trading day thereafter), as reported on the New York Stock
Exchange—Composite Transactions listing. 
 SECTION 10. RESTRICTIVE LEGEND AND STOCK POWER 
 Each certificate evidencing Stock subject to Awards shall bear an appropriate legend referring to the terms, conditions and restrictions applicable to
such Award. Any attempt to dispose of Stock in contravention of such terms, conditions, and restrictions shall be ineffective. The Committee may adopt rules which provide that the certificates evidencing such shares may be held in custody by a bank
or other institution, or that the Company may itself hold such shares in custody until the restrictions thereon shall have lapsed and may require, as a condition of any Award, that the recipient shall have delivered a stock power endorsed in blank
relating to the Stock covered by such Award. 
 SECTION 11. AMENDMENTS, MODIFICATIONS AND TERMINATION OF PLAN 
 The Board or the Committee may terminate the Plan, in whole or in part, may suspend the Plan, in whole or in part from time to time, and may amend the
Plan from time to time, including the adoption of amendments deemed necessary or desirable to qualify the Awards under the laws of various states (including tax laws) and under rules and regulations promulgated by the Securities and Exchange
Commission with respect to employees who are subject to the provisions of Section 16 of the Securities Exchange Act of 1934, or to correct any defect or supply an omission or reconcile any inconsistency in the Plan or in any Award granted
thereunder, without the approval of the stockholders of the Company; provided, however, that no action shall be taken without the approval of the stockholders of the Company which may increase the number of shares of Stock 

 
available for Awards or withdraw administration from the Committee, or permit any person while a member of the Committee to be eligible to receive an Award.
No amendment or termination or modification of the Plan shall in any manner affect Awards therefore granted without the consent of the employee unless the Committee has made a determination that an amendment or modification is in the best interest
of all persons to whom Awards have theretofore been granted. The Board or the Committee may modify or remove restrictions contained in Sections 5 and 6 on an Award or the Awards as a whole which have been previously granted upon a determination that
such action is in the best interest of the Company. The Plan shall terminate when (a) all Awards authorized under the Plan have been granted and (b) all shares of Stock subject to Awards under the Plan have been issued and are no longer
subject to forfeiture under the terms hereof unless earlier terminated by the Board or the Committee. 
 SECTION 12. GOVERNING LAW 
 Except to extent preempted by Federal Law, this Plan shall be construed, governed and enforced under the laws of the State of Delaware (without regard to
the conflicts of law principles thereof) and any and all disputes arising under this Plan are to be resolved exclusively by courts sitting in Delaware.Form of Chief Executive Stock Appreciation Rights Agreement

 EXHIBIT 10.25 
 CEO Version 
 THE McCLATCHY COMPANY 
 2004 STOCK INCENTIVE PLAN 
 STOCK
APPRECIATION RIGHTS AGREEMENT 
 THIS AGREEMENT, entered into as of
                    , 200    , and between THE McCLATCHY COMPANY, a Delaware corporation (the “Company”)
and                      (the “Grantee”), 
 W I T N E S S E T H: 
 WHEREAS, the Board of Directors of the Company has established the THE
McCLATCHY COMPANY 2004 STOCK INCENTIVE PLAN in order to provide selected employees of the Company and its Subsidiaries with an award of stock appreciation rights (“SARs”); and 
 WHEREAS, the Committee has determined that it would be in the best interests of the Company and its shareholders to grant the SARs described in this
Agreement to the Grantee as an inducement to enter into or remain in the service of the Company and as an incentive for extraordinary efforts during such service: 
 NOW, THEREFORE, it is agreed as follows: 
 SECTION 1. GRANT OF STOCK APPRECIATION RIGHTS. 
 (a) SARs. On the terms and conditions stated below, the Company hereby grants to the Grantee an award of SARs covering
             Shares, pursuant to which the Grantee shall be eligible for the payment described in Section 4(b) of this Agreement. The SAR Exercise Price for the SARs granted
pursuant to this Agreement is $             per SAR, which is agreed to be 100% of the fair market value per Share of Stock on the Date of Grant. 
 (b) Stock Incentive Plan. The award of SARs is made granted pursuant to the Plan, a copy of which the Grantee acknowledges having received
and read. The provisions of the Plan are incorporated into this Agreement by reference. 
 SECTION 2. NO TRANSFER OR ASSIGNMENT OF SARs.

 Except as otherwise provided in this Agreement, the SARs and the rights and privileges conferred hereby shall not be transferred,
assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose
of the SARs, or of any right or privilege conferred hereby, contrary to the provisions hereof, or upon any attempted sale under any execution, attachment or similar process upon the rights and privileges conferred hereby, the SARs and the rights and
privileges conferred hereby shall immediately become null and void. 

 SECTION 3. RIGHT TO EXERCISE. 
 (a) Vesting. These SARs shall become exercisable in installments only to the extent they have vested and only before they expire, as follows: 
  

				
	 Date:
	  	Percentage of
Shares Exercisable:	 
	 March 1, 20    
	  	25	%
	 March 1, 20    
	  	50	%
	 March 1, 20    
	  	75	%
	 March 1, 20    
	  	100	%

 The number of Shares determined by applying the applicable percentage shall be rounded to the
nearest integer. The foregoing notwithstanding, the SARs shall become exercisable in full in the event that the Grantee ceases to be an Employee because of death, Total and Permanent Disability or retirement at any time when Grantee is 57 years of
age or older. In the event that the Grantee ceases to be an Employee because of retirement when Grantee is 50 to 57 years of age, two additional installments (as set forth in the table above) shall become exercisable. No additional SARs will vest
after your Service has terminated for any reason. 
 (b) Partial Exercise. No Partial Exercise of the SARs may be made for SARs
pertaining to less than 100 Shares (without regard to adjustments). 
 (c) Acceleration upon Change of Control. Notwithstanding
any contrary provision of the Plan or this Agreement, upon a Change of Control, Grantee shall be entitled to immediate 100% vesting of any unexpired outstanding SARs granted to him or her under this Agreement. 
 (d) Definition of Change of Control. For purposes of Section 3(c), “Change of Control” shall mean the occurrence of any of
the following: (i) the sale, lease, conveyance or other disposition of all or substantially all of the Company’s assets to any “person” (as such term is used in Section 13(d) of the Securities Exchange Act of 1934, as
amended), entity or group of persons acting in concert; (ii) any “person” or group of persons (other than any member of the McClatchy family or any entity or group controlled by one or more members of the McClatchy family) becoming
the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented by the Company’s then outstanding voting securities;
(iii) a merger or consolidation of the Company with any other corporation, other than a merger or consolidation that would 

 
result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity or its controlling entity) at least 50% of the total voting power represented by the voting securities of the Company or such surviving entity (or its controlling entity) outstanding
immediately after such merger or consolidation; (iv) a contest for the election or removal of members of the Board that results in the removal from the Board of at least 50% of the incumbent members of the Board, or (v) the occurrence of a
“Rule 13e-3 transaction” as such term is defined in Rule 13e-3 promulgated under the Securities Exchange Act of 1934, as amended, or any similar successor rule. 
 SECTION 4. EXERCISE AND SETTLEMENT OF SARS PROCEDURES. 
 (a) Notice of Exercise.
The Grantee or the Grantee’s representative may exercise the SARs by giving written notice to the Secretary of the Company pursuant to Section 10(d) in the form prescribed by the Company. The notice shall specify the election to exercise
the SARs, the number of SAR shares for which it is being exercised, and whether Share withholding to pay taxes will be used. The notice shall be signed by the person or persons exercising the SARs. In the event that the SARs is being exercised by
the representative of the Grantee, the notice shall be accompanied by proof satisfactory to the Company of the representative’s right to exercise the SARs. 
 (b) Issuance of Shares. After receiving a proper notice of exercise, the Company shall cause to be issued the whole number of shares of Stock whose value is an amount equal to the difference between the
Fair Market Value (as such term is defined in the Plan) of a Share of Stock on the exercise date and the SAR Exercise Price, multiplied by the number shares covered by the of SARs being exercised. Fractional shares shall be paid in cash. After
receiving a proper notice of exercise, the Company shall cause to be issued a certificate or certificates for the Shares for which the SARs has been exercised, registered in the name of the person exercising the SARs (or in the names of such person
and his or her spouse as community property or as joint tenants with right of survivorship). The Company shall cause such certificate or certificates to be delivered to or upon the order of the person exercising the SARs. 
 SECTION 5. TERM AND EXPIRATION. 
 (a)
Basic Term. These SARs shall in any event expire on the date 10 years after the Date of Grant. 
 (b) Termination of
Service (Except by Death). Subject to Subsection (a) above, if the Grantee’s service as an Employee (“Service”) terminates for any reason, other than death, then his or her SARs shall expire on the earliest of the
following occasions: 
 (i) The expiration date determined pursuant to Subsection (a) above; 

 (ii) The date three years after the termination of the Grantee’s Service, if the termination occurs
on or after the earliest date when he or she is eligible for early or normal retirement under the McClatchy Retirement Plan; 
 (iii) The
date three years after the termination of the Grantee’s Service, if the termination occurs because of his or her Total and Permanent Disability; or 
 (iv) The date 90 days after the termination of the Grantee’s Service, if the termination is not described in Paragraphs (ii) or (iii) above. 
 In the event that the Grantee dies after the termination of his or her Service but before the expiration of his or her SARs, all or part of such SARs may
be exercised (prior to expiration) by the executors or administrators of the Grantee’s estate or by any person who has acquired such SARs directly from him or her by bequest or inheritance, but only to the extent that such SARs had become
exercisable before his or her Service terminated or became exercisable as a result of the termination. 
 (c) Death of Grantee.
If an Grantee dies while he or she is in Service, then his or her SARs shall expire on the earlier of the following dates: 
 (i) The
expiration date determined pursuant to Subsection (a) above; or 
 (ii) The date three years after his or her death. 
 All or part of the Grantee’s vested SAR may be exercised at any time before the expiration of such vested SARs under the preceding sentence by the
executors or administrators of his or her estate or by any person who has acquired such SARs directly from him or her by bequest or inheritance. 
 SECTION 6. LEGALITY OF INITIAL ISSUANCE. 
 No Shares shall be issued upon the exercise of the SARs unless and until
the Company has determined that: 
 (a) It and the Grantee have taken any actions required to register the Shares under the Securities Act or
to perfect an exemption from the registration requirements thereof; 
 (b) Any applicable listing requirement of any stock exchange on which
Stock is listed has been satisfied; and 
 (c) Any other applicable provision of state or federal law has been satisfied. 

 SECTION 7. NO REGISTRATION RIGHTS. 
 The Company may, but shall not be obligated to, register or qualify the sale of Shares under the Securities Act or any other applicable law. The Company
shall not be obligated to take any affirmative action in order to cause the sale of Shares under this Agreement to comply with any law. 
 SECTION 8.
RESTRICTIONS ON TRANSFER OF SHARES. 
 Regardless of whether the offering and sale of Shares under the Plan have been registered
under the Securities Act or have been registered or qualified under the securities laws of any state, the Company may impose restrictions upon the sale, pledge or other transfer of such Shares (including the placement of appropriate legends on stock
certificates) if, in the judgment of the Company and its counsel, such restrictions are necessary or desirable in order to achieve compliance with the provisions of the Securities Act, the securities laws of any state or any other law. 

SECTION 9. ADJUSTMENT OF SHARES. 
 (a)
General. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a declaration of a dividend payable in cash in an amount that has a material effect on the price of Shares, a combination
or consolidation of the outstanding Stock (by reclassification or otherwise) into a lesser number of Shares, or a similar occurrence, the Committee shall make appropriate adjustments in one or both of (i) the number of Shares covered by this
SARs Agreement or (ii) the SAR Exercise Price. 
 (b) Reorganization. In the event that the Company is a party to a merger
or other reorganization, the SARs covered by this Agreement shall be subject to the agreement of merger or reorganization. Such agreement may provide, without limitation, for the assumption of this SARs grant by the surviving corporation or its
parent, for its continuation by the Company (if the Company is a surviving corporation) or for settlement in cash. 
 (c) Reservation
of Rights. Except as provided in this Section 9, the Grantee shall have no rights by reason of any subdivision or consolidation of shares of stock of any class, the payment of any stock dividend or any other increase or decrease in the
number of shares of Stock of any class. Any issue by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the
number of Shares subject to this SARs Agreement or the SAR Exercise Price. The grant of these SARs shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or
business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 

 SECTION 10. MISCELLANEOUS PROVISIONS. 
 (a) Withholding Taxes. In the event that the Company determines that it is required to withhold foreign, federal, state or local tax as a
result of the exercise of this the Grantee’s SARs, the Grantee, as a condition to the exercise of the SARs, shall make arrangements satisfactory to the Company to enable it to satisfy all withholding requirements. The Grantee shall also make
arrangements satisfactory to the Company to enable it to satisfy any withholding requirements that may arise in connection with the disposition of Shares purchased by exercising the SARs. Satisfactory arrangements shall include delivery of
previously owned shares and share withholding. 
 (b) Rights as a Shareholder. Neither the Grantee nor the Grantee’s
representative shall have any rights as a shareholder with respect to any Shares subject to the SARs. The Grantee shall have rights as a shareholder with respect to the shares of Stock the Grantee receives in settlement of SARs that the Grantee
exercises until such Shares have been issued in the name of the Grantee or the Grantee’s representative. 
 (c) No Employment
Rights. Nothing in this Agreement shall be construed as giving the Grantee the right to be retained as an Employee. The Company reserves the right to terminate the Grantee’s service at any time and for any reason. 
 (d) Notice. Any notice required by the terms of this Agreement shall be given in writing and shall be deemed effective upon personal
delivery or upon deposit with the United States Postal Service, by registered or certified mail with postage and fees prepaid and addressed to the party entitled to such notice at the address shown below such party’s signature on this
Agreement, or at such other address as such party may designate by 10 days’ advance written notice to the other party to this Agreement. 
 (e) Consent to Electronic Delivery. The Company may choose to deliver certain statutory materials relating to the Plan in electronic form. By accepting the SARs, Grantee agrees that the Company may deliver the Plan prospectus
and the Company’s annual report to the Grantee in electronic format. If at any time the Grantee prefers to receive paper copies of such documents, as the Grantee is entitled to, the Company will provide copies. Request for paper copies of such
documents may be made to the Secretary of the Company at 916-321-1828 or kmorgan-prager@mcclatchy.com. 
 (f) Entire Agreement.
This Agreement and the Plan constitute the entire contract between the parties hereto with regard to the subject matter hereof. 
 (g)
Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, as such laws are applied to contracts entered into and performed in such State. 

 SECTION 11. DEFINITIONS. 
 (a) “Agreement” shall mean this Stock Appreciation Rights Agreement. 
 (b) “Board” shall
mean the Board of Directors of the Company, as constituted from time to time. 
 (c) “Code” shall mean the Internal Revenue Code of
1986, as amended. 
 (d) “Committee” shall mean the committee described in Section 3 of the Plan. 
 (e) “Date of Grant” shall mean the date on which the Committee resolved to grant the SARs, which is the date as of which this Agreement is
entered into. 
 (f) “Employee” shall mean any individual who is an employee (within the meaning of section 3401(c) of the Code and
the regulations thereunder) of the Company or of a Subsidiary. 
 (g) “Plan” shall mean The McClatchy Company 2004 Stock Incentive
Plan, as in effect on the Date of Grant. 
 (h) “SAR Exercise Price” shall mean the per share exercise price of a SAR, as specified
in Section 1(a). 
 (i) “Securities Act” shall mean the Securities Act of 1933, as amended. 
 (j) “Share” shall mean one share of Stock, as adjusted in accordance with Section 9 (if applicable). 
 (k) “Stock” shall mean the Class A Common Stock of the Company. 
 (l) “Subsidiary” shall mean any corporation, if the Company and/or one or more other Subsidiaries own not less than 50% of the total combined
voting power of all classes of outstanding stock of such corporation. 
 (m) “Total and Permanent Disability” shall mean that the
Grantee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which has lasted, or can be expected to last, for a continuous period of not less than twelve months or which can
be expected to result in death. 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its officer
duly authorized to act on behalf of the Committee, and the Grantee has personally executed this Agreement. 
  

			
	THE McCLATCHY COMPANY
		
	By	 	  

		 	Secretary
	
	Company’s Address:
		
		 	 2100 Q Street
 Sacramento, CA
95816

  

			
	GRANTEE
		
	By	 	  

  

			
	Grantee’s Address:

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