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EXHIBIT 10.2.1(e)

FOURTH AMENDMENT

TO THE

BELO SAVINGS PLAN

(As Amended and Restated Effective August 1, 2004)

     Belo Corp., a Delaware corporation, pursuant to authorization by the Compensation Committee of
the Board of Directors, adopts the following amendments to the Belo Savings Plan (the “Plan”).

     1. The third paragraph of Section 1.20 of the Plan (“One Year Break in Service”) is amended in
its entirety to read as follows:

     Notwithstanding the foregoing, for computation periods ending before January 1, 2007,
if an Employee is classified as a part-time Employee in accordance with standard personnel
practices of his Participating Employer and is subject to the 1,000 Hour of Service
requirement of Section 1.35, the term ‘One Year Break in Service’ means a 12 consecutive
month computation period (determined under Section 1.35) in which the Employee fails to
complete more than 500 Hours of Service. Effective for computation periods ending on or
after January 1, 2007, all Employees (including part-time Employees who were absent from
service on December 31, 2006) will be subject to the One Year Break in Service provisions of
the preceding paragraphs of this Section 1.20.

     2. The second paragraph of Section 1.35 of the Plan (“Year of Service”) is amended in its
entirety to read as follows:

     Notwithstanding the foregoing, for computation periods ending before January 1, 2007,
if an Employee is classified as a part-time or irregularly scheduled Employee in accordance
with standard personnel practices of his Participating Employer, the term ‘Year of Service’
means, solely for purposes of satisfying the eligibility requirements of Section 2.1, the
completion of 1,000 Hours of Service during the 12 consecutive months beginning on the date
the Employee first performs an Hour of Service, or during the 12 consecutive months
beginning on any anniversary of such date. Effective January 1, 2007, the service of an
Employee who was subject to the 1,000 Hour of Service requirement of this Section for the
computation period that includes January 1, 2007 (but not for any prior computation period)
will be determined under the elapsed time method, or if more favorable to the Employee, on
the basis of his Hours of Service completed as of December 31, 2006.

     3. Section 1.35 of the Plan is further amended by deleting the third paragraph thereof.

 

 

     4. Section 2.3 of the Plan is amended in its entirety to read as follows:

     2.3 Reemployment Provisions. If an Employee terminates employment before
satisfying the eligibility requirements set forth in Section 2.1(b) with respect to
Participating Employer matching contributions and profit sharing contributions, has no
balance credited to his Deferral Contribution Account and is reemployed by a Controlled
Group Member before incurring a number of consecutive One Year Breaks in Service at least
equal to the greater of five or his aggregate Years of Service, he will become a Participant
with respect to such matching and profit sharing contributions on the later of the date
initially determined under Section 2.1(b) or the date he is credited with one or more Hours
of Service by a Participating Employer after reemployment; but if he is reemployed by a
Controlled Group Member after incurring a number of consecutive One Year Breaks in Service
at least equal to the greater of five or his aggregate Years of Service, he will be treated
as a new Employee for purposes of Section 2.1(b) and his Hours of Service completed before
his reemployment will be disregarded in determining when he will become a Participant with
respect to such contributions.

     5. Section 6.3(b) of the Plan is amended in its entirety to read as follows:

     (b) Deemed Financial Need. For purposes of this Section, a distribution is
made on account of an immediate and heavy financial need of the Participant only if the
distribution is for (i) the payment of expenses for (or necessary to obtain) medical care
that would be deductible under Code section 213(d) (determined without regard to whether the
expenses exceed 7.5% of adjusted gross income); (ii) costs directly related to the purchase
of a principal residence for the Participant (excluding mortgage payments); (iii) the
payment of tuition, related educational fees and room and board expenses for the next 12
months of post-secondary education for the Participant, his spouse, children or dependents
(as defined in Code section 152 and, for taxable years beginning on or after January 1,
2005, without regard to Code sections 152(b)(1), 152(b)(2) or 152(d)(1)(B)); (iv) payments
necessary to prevent the eviction of the Participant from his principal residence or
foreclosure on the mortgage of the Participant’s principal residence; (v) the payment of
burial or funeral expenses of the Participant’s deceased parent, spouse, children or
dependents (as defined in Code section 152 and, for taxable years beginning on or after
January 1, 2005, without regard to Code section 152(d)(1)(B)); (vi) expenses for the repair
of damage to the Participant’s principal residence that would qualify for the casualty
deduction under Code section 165 (determined without regard to whether the loss exceeds 10%
of adjusted gross income).

     6. Clause (ii) of Section 6.3(c) of the Plan (“Reasonable Reliance Test”) is amended in its
entirety to read as follows:

(ii) the Participant represents in writing, on forms provided by the Committee, that the
need cannot be relieved in whole or in part through reimbursement or compensation by
insurance or otherwise, by reasonable liquidation of the Participant’s assets, to the extent
such liquidation would not itself cause an immediate and heavy financial need, by cessation
of Deferral Contributions under the Plan, or by distributions other than hardship

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distributions or nontaxable (at the time of the loan) loans from the Plan and any other
plans maintained by any Controlled Group Member or any other entity by which the Participant
is employed, or relieved in whole by borrowing from commercial sources on reasonable
commercial terms;

     7. Section 10.8 of the Plan (“Aggregation and Disaggregation Rules”) is amended to add a new
subsection (e) thereto to read as follows:

     (e) Testing Procedures. In applying the limitations set forth in Section 10.6
and 10.7, the Committee may, at its option, utilize such testing procedures as may be
permitted under Code sections 401(a)(4), 401(k), 401(m) or 410(b), including without
limitation (i) aggregation of the Plan with one or more other qualified plans maintained by
a Controlled Group Member or disaggregation of the Plan into component plans, (ii) inclusion
of qualified matching contributions, qualified nonelective contributions or elective
deferrals made to plans of other Controlled Group Members, (iii) exclusion of all Employees
(other than Highly Compensated Employees) who have not met the minimum age and service
requirements of Code section 410(a)(1)(A), or (iv) any permissible combination thereof.

     8. Section 11.2(a) of the Plan is amended in its entirety to read as follows:

     (a) Distributions Prior to a Severance From Employment. Except for
distributions permitted under Article 6 with respect to Participants who attain age 591/2 or
suffer a hardship, a Participant’s interest in the Plan will not be distributed before the
Participant’s severance from employment with all Controlled Group Members, disability or
death, unless the Plan is terminated without the establishment or maintenance by the
Participating Employers of another defined contribution plan (except as permitted by Code
section 401(k) and the Treasury Regulations thereunder).

     9. The amendments described in Items 1, 2 and 3 will be effective as of January 1, 2007, and
the remaining amendments will be effective as of January 1, 2006.

     Executed at Dallas, Texas, this 30th day of November, 2006.

	 	 	 	 	 
	 	BELO CORP.

 	 
	 	By  	/s/ Marian Spitzberg
 	 
	 	 	Marian Spitzberg 	 
	 	 	Senior Vice President/Human Resources 	 
	 

3exv10w2w7xdy

 

EXHIBIT 10.2.7(d)

FIRST AMENDMENT TO

BELO

2004 EXECUTIVE COMPENSATION PLAN

     Belo Corp., pursuant to authorization of the Compensation Committee of the Board of Directors,
adopts the following amendment to the Belo 2004 Executive Compensation Plan (the “Plan”).

1. Section 14 of the Plan is amended in its entirety to read as follows:

     14. Adjustments. The Committee will make or provide for such adjustments in
(i) the maximum number of shares of Common Stock specified in Sections 4 and 5, (ii)
the number of shares of Common Stock covered by outstanding Stock Options,
Appreciation Rights, Deferred Shares and Performance Shares granted under the Plan,
(iii) the Option Price or Grant Price applicable to any Stock Options and
Appreciation Rights, and (iv) the kind of shares covered by any such Awards
(including shares of another issuer) as is equitably required to prevent dilution or
enlargement of the rights of Participants and Directors that otherwise would result
from (x) any stock dividend, stock split, combination of shares, recapitalization or
other change in the capital structure of Belo, or (y) any merger, consolidation,
spin-off, split-off, spin-out, split-up, reorganization, partial or complete
liquidation or other distribution of assets, issuance of rights or warrants to
purchase securities, or (z) any other corporate transaction, equity restructuring or
other event having an effect similar to any of the foregoing. In the event of any
such transaction or event, the Committee, in its discretion, may provide in
substitution for any or all outstanding Awards such alternative consideration as it,
in good faith, may determine to be equitable in the circumstances and may require in
connection with such substitution the surrender of all Awards so replaced.

2. The foregoing amendment will be effective as of November 30, 2006.

Executed at Dallas, Texas this 30th day of November, 2006.

	 	 	 	 	 
	 	BELO CORP.

 	 
	 	By  	/s/ Marian Spitzberg
 	 
	 	 	Marian Spitzberg 	 
	 	 	Senior Vice President/Human Resources

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