Document:

exv10w5

 

EXHIBIT 10.5

ACKNOWLEDGMENT TO

INVESTMENT FACILITIES AND

SERVICES AGREEMENT

This agreement among Continental Reinsurance Corporation International Limited (“Participating
Subsidiary”), CNA Financial Corporation (“CNA”) and Loews/CNA Holdings Inc. (“Loews”) dated as of
January 1, 2008, is an acknowledgment by a Participating Subsidiary to the Investment Facilities
and Services Agreement dated as of January 1, 2006, as amended on January 1, 2007, among CNA, the
Participating Subsidiaries and Loews (which shall be referred to herein as the “Agreement” and this
acknowledgment shall be referred to herein as the “Acknowledgment”). All capitalized terms which
are not defined herein shall have the same meaning as they have in the Agreement. The
Acknowledgment shall terminate without further action on the part of any party when Participating
Subsidiary is no longer a subsidiary of CNA and Loews has been notified in writing of such change
in status. Participating Subsidiary, CNA and Loews agree to be bound by all of the terms of the
Agreement except as stated otherwise in this Acknowledgment. The Acknowledgment shall be effective
as of January 1, 2008.

Upon reasonable notice, the Participating Subsidiary, or its designated representative, including
but not limited to any applicable regulatory authority, shall have access at any reasonable time to
inspect and audit the billing statements of Loews that pertain to the services provided under the
Agreement, and it may make copies of any records pertaining thereto.

CONTINENTAL REINSURANCE CORPORATION
INTERNATIONAL LIMITED

	 	 	 	 	 
	By:

	 	/s/ Dennis R. Hemme	 	 
	 

	 	 

	 	 
	Title:

	 	Senior Vice President and Treasurer	 	 
	 
	CNA FINANCIAL CORPORATION	 	 
	 
	 	 	 	 
	By:

	 	/s/ Lawrence J. Boysen	 	 
	 

	 	 

	 	 
	Title:

	 	Senior Vice President and Controller	 	 
	 
	Loews/CNA Holdings Inc.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Gary W. Garson	 	 
	 

	 	 

	 	 
	Title:

	 	SVPexv10w6

 

EXHIBIT 10.6

ACKNOWLEDGMENT TO

INVESTMENT FACILITIES AND

SERVICES AGREEMENT

This agreement among North Rock Insurance Company Limited (“Participating Subsidiary”), CNA
Financial Corporation (“CNA”) and Loews/CNA Holdings Inc. (“Loews”) dated as of January 1, 2008,
is an acknowledgment by a Participating Subsidiary to the Investment Facilities and Services
Agreement dated as of January 1, 2006, as amended on January 1, 2007, among CNA, the Participating
Subsidiaries and Loews (which shall be referred to herein as the “Agreement” and this
acknowledgment shall be referred to herein as the “Acknowledgment”). All capitalized terms which
are not defined herein shall have the same meaning as they have in the Agreement. The
Acknowledgment shall terminate without further action on the part of any party when Participating
Subsidiary is no longer a subsidiary of CNA and Loews has been notified in writing of such change
in status. Participating Subsidiary, CNA and Loews agree to be bound by all of the terms of the
Agreement except as stated otherwise in this Acknowledgment. The Acknowledgment shall be effective
as of January 1, 2008.

Upon reasonable notice, the Participating Subsidiary, or its designated representative, including
but not limited to any applicable regulatory authority, shall have access at any reasonable time to
inspect and audit the billing statements of Loews that pertain to the services provided under the
Agreement, and it may make copies of any records pertaining thereto.

NORTH ROCK INSURANCE COMPANY LIMITED

	 	 	 	 	 
	By:

	 	/s/ Dennis R. Hemme	 	 
	 

	 	 

	 	 
	Title:

	 	Senior Vice President and Treasurer	 	 
	 
	CNA FINANCIAL CORPORATION	 	 
	 
	 	 	 	 
	By:

	 	/s/ Lawrence J. Boysen	 	 
	 

	 	 

	 	 
	Title:

	 	Senior Vice President and Controller	 	 
	 
	Loews/CNA Holdings Inc.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Gary W. Garson	 	 
	 

	 	 

	 	 
	Title:

	 	SVPexv10w7

 

EXHIBIT 10.7

ACKNOWLEDGMENT TO

INVESTMENT FACILITIES AND

SERVICES AGREEMENT

This agreement among CNA National Warranty Corporation (“Participating Subsidiary”), CNA Financial
Corporation (“CNA”) and Loews/CNA Holdings Inc. (“Loews”) dated as of January 1, 2008, is an
acknowledgment by a Participating Subsidiary to the Investment Facilities and Services Agreement
dated as of January 1, 2006, as amended on January 1, 2007, among CNA, the Participating
Subsidiaries and Loews (which shall be referred to herein as the “Agreement” and this
acknowledgment shall be referred to herein as the “Acknowledgment”). All capitalized terms which
are not defined herein shall have the same meaning as they have in the Agreement. The
Acknowledgment shall terminate without further action on the part of any party when Participating
Subsidiary is no longer a subsidiary of CNA and Loews has been notified in writing of such change
in status. Participating Subsidiary, CNA and Loews agree to be bound by all of the terms of the
Agreement except as stated otherwise in this Acknowledgment. The Acknowledgment shall be effective
as of January 1, 2008.

Upon reasonable notice, the Participating Subsidiary, or its designated representative, including
but not limited to any applicable regulatory authority, shall have access at any reasonable time to
inspect and audit the billing statements of Loews that pertain to the services provided under the
Agreement, and it may make copies of any records pertaining thereto.

CNA NATIONAL WARRANTY CORPORATION

	 	 	 	 	 
	By:

	 	/s/ J. H. Becker	 	 
	 

	 	 

	 	 
	Title:

	 	President	 	 
	 
	CNA FINANCIAL CORPORATION	 	 
	 
	 	 	 	 
	By:

	 	/s/ Lawrence J. Boysen	 	 
	 

	 	 

	 	 
	Title:

	 	Senior Vice President and Controller	 	 
	 
	Loews/CNA Holdings Inc.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Gary W. Garson	 	 
	 

	 	 

	 	 
	Title:

	 	SVPexv10w31

 

Exhibit 10.31

	 	 	 
	

	 	

February 28, 2007

Mr. William Barker III

1612-A North Mohawk Street

Chicago, IL 60614

Dear Bill:

On behalf of the Sun-Times News Group (STNG), I am pleased to offer you the position of Chief
Financial Officer. We believe our challenging environment will provide you with significant
opportunities to realize your professional objectives. We are confident that your professional
talent would be a great asset to our Company, and more specifically, we would be pleased to have
you as a member of the senior management team.

This letter outlines and confirms the compensation and benefits arrangements of your offer and
employment with STNG. We also outline some general employment understanding.

Position

Your position will be Chief Financial Officer. Major responsibilities include all aspects of
Finance, Accounting, Treasury, Tax, Internal Audit and IT. You will report to Cyrus F. Freidheim,
Jr., President and Chief Executive Officer, Sun-Times Media Group.

Employment Date

To begin on February 19, 2007.

Base Salary

Your base salary will be at the annual rate of $310,000.

Senior Executive Incentive Plan

You will be eligible to participate in STNG’s senior executive incentive plan with an annual bonus
potential of 75% of base pay, making your total targeted annual compensation $542,500. Incentive
or bonus is based on targets set by management for individual and Company performance. The targets
are subject to change due to business circumstances. Incentives are generally paid based on
current year performance in the first quarter of the following year.

 

 

Sign-on Bonus

We will pay you a sign-on bonus of $100,000.00. This cash award will be subject to federal, state,
local (if applicable) and FICA withholding. This will be paid immediately after the start of your
employment.

Long Term Incentive Plan (LTIP)

You will be eligible for the Long-Term Incentive Plan at up to 75% of salary

	 	-	 	50% in restricted stock vesting over four years
	 
	 	-	 	50% in performance stock units with 2X maximum

Benefits

You will be eligible to participate in our various employee benefit programs based on a basis
equivalent to that enjoyed by other employees of the Company of similar seniority. Standard major
benefits include medical, dental, vision, short-term disability, long-term disability, life
insurance and profit sharing. At the executive level, you would be eligible for the Executive
Supplemental Life Insurance and Executive Long-Term Disability Insurance plans. Benefits will be
explained during Employee Orientation.

You will receive a Company paid parking benefit due to the location and nature of your job.

You will be entitled to four (4) weeks’ vacation per calendar year, including this year 2007. In
addition, you will be eligible for all Company holidays as designated by management each year.

Contingencies

This conditional offer of employment is contingent upon the following conditions and may be
withdrawn by STNG due to your inability to satisfy any one or more of these conditions. STNG or
its vendor will direct the reference evaluation process and may use outside investigative or
medical firms.

Physical Exam and Drug Test: You are required to complete a physical examination and drug
screen before this offer and your acceptance becomes final.

Past Employment History: This will include an in-depth employment check, civil and
criminal litigation checks, professional licensing authorities/securities regulatory
checks, forensic article screen and credit review. We can provide you with a document
outlining the particulars of the in-depth background check that will be conducted.

Reference Evaluation: We will conduct a check of your business references.

INS: Prior to your employment, we will need documents, which show you are legally entitled
to work in the United States. This verification is required by the Immigration and
Naturalization Service and Federal Law.

	 	 	 
	Bill Barker — Offer of Employment

	 	Page 2

 

 

Restrictive or Conflict of Interest Information

This offer is made based on your representation that you are not subject to any restrictive
covenants with any present and/or former employers. It is important that you are able to properly
safeguard confidential information that you may have acquired from your previous employer(s) and
that this obligation will not impede your ability to perform your position responsibilities with
STNG.

Severance Provisions

We have enclosed a copy of the Key Employee Severance Program.

Confidentiality

You agree to keep specifies of this letter confidential except that you may review it with your
financial advisor, attorney or immediate family. You are free to discuss the contents of this
letter with me or my designees.

You understand and agree that in the course of your employment, you will receive and become aware
of information, projects, practices, customer contracts and potential customers, which are
sensitive and confidential in nature. You agree to keep all such information strictly
confidential, and further agree that you will not communicate, disclose, divulge or otherwise use,
directly or indirectly, such confidential and/or sensitive information during and after your
employment with STNG. Confidentially is defined in the STNG Employee Handbook.

Acceptance of Employment Offer

By accepting this offer of employment, you agree this letter contains the entire understanding
between STNG and yourself with respect to your employment and supersedes all previous written or
oral negotiations, commitments and agreements with respect to an offer of employment.

You understand that this letter is not an employment contract. By signing this letter, you
indicate your understanding that STNG is an “at will” employer. This means that you will be free
to terminate your employment at any time, for any reason, and STNG is free to do the same. The Key
Employment Severance program, attached to this letter is part of our agreement.

You have read and acknowledge understanding of the “Employee Conduct Policy” and “Code of Business
Conduct and Ethics” by signing and returning the attached documents.

This letter, and its interpretation and application, will be governed and controlled by the laws of
the State of Illinois.

Please acknowledge your acceptance of this offer by signing and returning a copy to me within five
business days of receipt.

	 	 	 
	Bill Barker — Offer of Employment

	 	Page 3

 

 

Bill, we look forward to your joining our senior management team. Your contributions will play a
key role in STNG’s overall success. If you have any questions, please contact me at (312)
321-3013.

Sincerely,

/s/ Cyrus F. Freidheim, Jr.

Cyrus F. Freidheim, Jr.,

President and Chief Executive Officer

Sun-Times Media Group

Attachments:

Key Employee Severance Program

Acceptance of Employment:

	 	 	 	 	 	 	 	 	 	 	 
	Signature:

	 	/s/ Bill Barker
	 	 	 	Date:	 	 	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 

	 	 	 
	Bill Barker — Offer of Employment

	 	Page 4

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