Document:

EX-10.13

Exhibit 10.13

ASSIGNMENT AND ASSUMPTION AGREEMENT AND CONSENT

     This Assignment and Assumption Agreement and Consent (this “Agreement”) is made as of June ___,
2008, by and among The E. W. Scripps Company, an Ohio corporation (“Assignor”), Scripps Networks
Interactive, Inc., an Ohio corporation (“Assignee”), and Kenneth W. Lowe (“Executive”).

Preliminary Statements:

     A. Assignor and Executive are parties to that certain Employment Agreement, dated as of June
16, 2003, as amended (the “Employment Agreement”), attached as Exhibit A hereto.

     B. Assignor and Assignee are parties to that certain Separation and Distribution Agreement,
dated as of June ___, 2008 (the “Separation Agreement”). Capitalized terms used herein but not
otherwise defined herein shall have the meanings ascribed to them in the Separation Agreement.

     C. In connection with the Separation, Executive will become an employee of Assignee.

     D. Assignor wishes to grant, sell, assign, transfer and deliver to Assignee on the
Distribution Date, and Assignee wishes to assume on the Distribution Date, the Employment
Agreement, subject to the terms and conditions of this Agreement.

     E. Executive wishes to consent to the assignment of the Employment Agreement from Assignor to
Assignee.

     NOW THEREFORE, intending to be legally bound, the parties hereto do hereby covenant and agree
as follows:

     1. Assignment. Effective as of, but subject to the occurrence of, the Distribution
Date, Assignor hereby grants, sells, assigns, transfers and delivers to Assignee all of the right,
title and interest of Assignor in and to the Employment Agreement; provided, however, that, except
as otherwise provided in the Separation Agreement, Assignor retains and does not grant, sell,
assign, transfer or deliver any rights accruing to Assignor prior to the Distribution Date that are
intended to accrue to the benefit of the EWS Business, including, without limitation, rights under
Sections 12(b) and 12(c).

     2. Assumption. Effective as of, but subject to the occurrence of, the Distribution
Date, Assignee hereby assumes and agrees to pay, discharge or perform, as appropriate, all
liabilities and obligations of Assignor first arising or accruing under the Employment Agreement on
or after the Distribution Date (the “Assumed Liabilities”).

     3. Excluded Liabilities. Notwithstanding anything contained herein to the contrary,
Assignee is not assuming and shall not assume, or become responsible for, at any time, any
liabilities or obligations of Assignor arising or accruing under the Employment Agreement other
than the Assumed Liabilities.

 

 

     4. Agreements of Executive. Executive hereby consents to the assignment of the
Employment Agreement from Assignor to Assignee effective as of, but subject to the occurrence of,
the Distribution Date and agrees that such assignment shall not constitute a termination of
employment or Good Reason for Executive to terminate his employment. Executive and Assignee agree
that upon effectiveness of the assignment contemplated by this Agreement, all references to the
“Company” in the Employment Agreement shall mean Assignee and all references to employee benefit
plans of Assignor in the Employment Agreement shall mean the comparable plans of Assignee.
Executive agrees that his obligations to Assignor under Section 12(b) with respect to
works-for-hire created as an employee of Assignor for the benefit of the EWS Business prior to the
Distribution Date and Section 12(c) with respect to Trade Secrets and Confidential Information (as
defined in the Employment Agreement) of Assignor related to the EWS Business shall continue in
effect in accordance with their terms for the benefit of Assignor.

     5. Further Action. The parties will from time to time after the date hereof, without
further consideration, execute, acknowledge and deliver such further acts, assignments, transfers,
conveyances, assumptions and assurances as may be reasonably required to carry out the intent of
this Agreement and to assign, transfer, convey and deliver unto Assignee, and for Assignee to
accept and assume, the Employment Agreement.

     6. Governing Law. This Agreement will be governed by, and construed in accordance
with, the laws of the State of Ohio, without reference to principles of conflict of laws.

     7. Counterparts. This Agreement may be executed in counterparts, which together shall
constitute one and the same agreement. The parties may execute more than one copy of this
Agreement, each of which shall constitute an original.

[Signature Page Follows]

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     IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first
written above.

	 	 	 	 	 
	 	THE E. W. SCRIPPS COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	SCRIPPS NETWORKS INTERACTIVE, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 
	 	 Kenneth W. Lowe

 	 
	 	 	 
	 	 	 
	 	 	 
	 

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EMPLOYMENT AGREEMENT

          THIS EMPLOYMENT AGREEMENT (including its Exhibits, the “Agreement”) is entered into on June
16, 2003 (the “Effective Date”), between THE E. W. SCRIPPS COMPANY, an Ohio corporation (together
with its successors and assigns, the “Company”), and KENNETH W. LOWE (“Executive”).

WITNESSETH:

          WHEREAS, Executive is currently employed as President and Chief Executive Officer of the
Company and also serves as a member of the board of directors of the Company, and the Company
desires to continue to have Executive serve in such positions;

          WHEREAS, the Company desires to enter into this Agreement embodying the terms of such
continued employment and Executive desires to continue such employment and to enter into this
Agreement, subject to the terms and provisions herein;

          NOW, THEREFORE, in consideration of the mutual promises herein contained, the Company and
Executive (individually a “Party” and together the “Parties”) hereby agree as follows:

          1. Position; Duties.

               (a) The Company hereby employs Executive as President and Chief Executive Officer of the
Company, and Executive hereby accepts such continued employment, on the terms and conditions set
forth herein. As President and Chief Executive Officer of the Company, Executive shall report
directly to the board of directors of the Company (the “Board”).

               (b) During the term of this Agreement, Executive shall be and have the titles, duties and authority of President and Chief Executive Officer of the Company. Executive

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shall devote substantially all his business time to, and use his best reasonable efforts to
promote, the business and affairs of the Company. During the term of this Agreement, Executive
shall have all authorities, duties and responsibilities customarily exercised by an individual
serving in those positions in a corporation the size and structure of the Company and shall perform
such other duties consistent with his positions as may be reasonably required from time to time by
the Board, provided such other duties do not materially impair Executive’s ability to discharge his
duties and responsibilities as contemplated at the time this Agreement was entered into.

               (c) Executive shall not, without the prior written consent of the Company, directly or indirectly, during the term of this Agreement, other than in the ordinary
course of performing his duties hereunder, render services of a business, professional or
commercial nature to any other person or firm, whether for compensation or otherwise; provided,
however, that so long as it does not materially interfere with the performance of his duties
hereunder, Executive may attend to outside investments, serve as a member of the board of directors
of one other corporation (in addition to service as set forth in Paragraph 2(b) below) and serve as
a director, trustee or officer of, or otherwise participate in, trade, professional, educational,
welfare, social, religious and civic organizations. Anything herein to the contrary
notwithstanding, nothing herein shall prevent Executive from serving on the board of directors of
any Company affiliate.

          2. Term; Board Position; Place of Employment.

               (a) Subject to the provisions for termination hereinafter provided in Paragraph 8 below, the term of this Agreement shall begin on the Effective
Date and shall end at the close of business on December 31, 2006, provided,
however, that the term of this Agreement shall automatically renew for
successive one-year terms, unless either Party gives written notice

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to the other Party not less than 90 days prior to the expiration of any such term that such Party
is electing not to so extend the term of this Agreement. Notwithstanding the foregoing, the term of
this Agreement shall end on the date on which Executive’s employment is earlier terminated by
either Party in accordance with the provisions of Paragraph 8 (a) below.

               (b) Executive shall serve, and shall be entitled and have the right to serve, as a member of
the Board and for service thereon Executive will receive only such compensation, if any, that is
paid to officers of the Company for service thereon. In addition, with the Company’s prior written
consent (which consent shall not be unreasonably withheld), Executive may serve on the board of any
joint venture of the Company or any affiliate.

               (c) During the term of this Agreement, Executive’s principal place of employment shall be
Cincinnati, Ohio.

          3. Base Salary; Bonus; Equity Incentive Plans.

               (a) During the term of this Agreement, the Company shall pay to Executive an annual base
salary of not less than $925,000 (“Base Salary”), payable in accordance with the Company’s payroll
practices. Executive’s Base Salary shall be reviewed at least annually by the Compensation
Committee of the Board (“Compensation Committee”) for increase. After any such increase, the term
“Base Salary” as utilized in this Agreement shall thereafter refer to the increased amount.
Executive’s Base Salary shall not be reduced at any time without his express prior written consent.

               (b) During the term of this Agreement, Executive shall participate in the Company’s annual bonus plan for senior executives or any successor annual incentive award plan
of the Company (the “Bonus Plan”). Under the Bonus Plan, Executive shall have a target bonus opportunity each year equal to no less than 80% of Executive’s Base Salary (“Target

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Bonus”), payable in that amount if the performance goals established for the relevant year are met.
If such performance goals are not met, Executive shall receive a lesser amount (if any) as
determined in accordance with the Bonus Plan. If such performance goals are exceeded, Executive may
receive a greater amount as determined in accordance with the Bonus Plan. Executive’s Target Bonus
as a percentage of Base Salary shall be reviewed periodically by the Compensation Committee for
increase, if any. After any such increase, the term “Target Bonus” as utilized in this Agreement
shall thereafter refer to the increased amount. Executive’s Target Bonus shall not be reduced at
any time without his express prior written consent. Executive shall be paid his annual incentive
award no later than other senior executives of the Company are paid such awards for the applicable
performance period.

               (c) Executive shall participate in all equity incentive plans of the Company, including,
but not limited to, the 1997 Long-Term Incentive Plan, as amended, or any successor thereto (the
“Incentive Plan”), on a basis no less favorable than the most favorable basis provided other senior
executives of the Company.

          4. Benefits; Perquisites; Expenses.

               (a) (i) During the term of this Agreement, Executive shall be entitled to participate, on a basis no less favorable than the most favorable basis provided any
other senior executive, in any employee pension and welfare benefit plan or program available to
the Company’s senior-level executives or to its employees generally, as such plans or programs may
be in effect from time to time, including, without limitation, pension, profit sharing, savings,
estate preservation and other retirement plans or programs, 401(k), medical, dental,
hospitalization, short-term and long-term disability and life insurance plans, accidental death and
dismemberment protection, travel accident insurance, and any other pension or retirement
plans

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or programs and any other employee welfare benefit plans or programs that may be sponsored by the
Company from time to time, including any plans that supplement the above-listed types of plans or
programs, whether funded or unfunded. Subject to Paragraph 7(a) hereof, Executive shall be entitled
to (i) an annual disability benefit amount of no less than 60% of his per annum rate of Base Salary
effective at the time of his Permanent Disability (as defined herein), payable until Executive
reaches age 65 and (ii) Company-paid life insurance with a benefit amount equal to his Base Salary
determined as of each January 1st during the term of this Agreement. Executive shall be entitled to
no less than four (4) weeks paid vacation per year.

                    (ii) Executive shall at all times be deemed to be a Covered
Employee, as such term is defined and for all purposes, under the Scripps Supplemental Executive
Retirement Plan, as amended and restated effective January 1, 2003 (the “Supplemental Plan”). In
the event that Executive’s employment with the Company is terminated prior to April 7, 2005 and
such termination is neither for Cause pursuant to Paragraph 8(a)(ii)(A) hereof nor voluntary by
Executive (other than for Good Reason, or Permanent Disability where the Company’s long-term
disability income benefit plan or program does not include provision of age credits through at
least age 55) pursuant to Paragraph 9(b) hereof, then for the purpose of determining his benefits
under the Supplemental Plan, the Executive shall be deemed to be qualified for Early Retirement
under the Scripps Pension Plan as Amended and Restated effective January 1, 1997 (the “Scripps
Pension Plan”); provided, however, that if Executive’s employment with the Company is terminated
prior to April 7, 2005 and such termination is either for Cause pursuant to Paragraph 8(a)(ii)(A)
hereof or voluntary by Executive (other than for Good Reason or Permanent Disability) pursuant to
Paragraph 9(b) hereof, then upon such termination of employment, the Executive shall not be deemed
qualified

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for Early Retirement under the Scripps Pension Plan. No amendment, suspension or termination of the
Supplemental Plan or any other pension plan of the Company shall adversely affect Executive’s
entitlement to the pension benefits that he shall have accrued as a Covered Employee under the
Supplemental Plan immediately prior to such amendment, suspension or termination. In the event that
any pension benefits provided pursuant to this Paragraph 4(a)(ii) cannot be paid under the
Supplemental Plan, such benefits shall be paid pursuant to this Agreement.

               (b) During the term of the Agreement, Executive shall be entitled to perquisites on a basis no
less favorable than the most favorable basis provided other senior executives of the Company. In
all events, Executive shall be entitled to be reimbursed by the Company for tax and financial
planning up to maximum of $15,000 per year, and for the annual membership fees and other dues
associated with one country and one luncheon club. In addition, the Company shall pay for the costs
of an annual physical.

               (c) Upon delivery of proper documentation, Executive shall be
reimbursed for reasonable business expenses and shall be entitled to travel first class when on
Company business. Executive shall also be reimbursed for reasonable legal fees and other expenses
(such fees and expenses not to exceed $100,000 in total) incurred by him relating to negotiation,
execution and delivery of this Agreement.

          5. Remaining Deferred Stock Units.

               (a) In recognition of the value Executive created in the Company’s national television
networks segment (the “Network Companies”) and in order to encourage Executive to use his talents
to enhance the operations and profitability of the Network Companies, the Company granted to
Executive 96,038 Deferred Stock Units under that certain

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employment agreement dated July 20, 1999 (the “Previous Employment Agreement”). Prior to the date
hereof, eighty percent (80%) of the Deferred Stock Units matured and 76,831 Class A Common Shares
of the Company were issued in exchange for such units. Each remaining Deferred Stock Unit entitles
Executive to receive from the Company on January 15, 2004 (the “Maturity Date”) one Class A Common
Share. Accordingly, the remaining Deferred Stock Units shall mature and be exchanged on the
Maturity Date for 19,207 Class A Common Shares.

               (b) Upon a Change in Control (as defined in Paragraph 11(a) hereof) of the Company prior to
the Maturity Date, the remaining Deferred Stock Units shall immediately be exchanged for Class A
Common Shares in accordance herewith and such shares shall be promptly delivered to Executive.

               (c) If Executive’s employment hereunder is terminated for any reason prior to a Change in
Control of the Company (including for “Cause” as defined herein) and prior to the Maturity Date,
Executive (or his designated beneficiary or legal representative in case of his death) shall
receive Class A Common Shares in exchange for the remaining Deferred Stock Units on the Maturity
Date as if Executive were still employed at such time.

               (d) No cash dividends or equivalent amounts shall be paid on the
remaining Deferred Stock Units. On the Maturity Date, the Company shall pay to Executive an amount
in cash which shall be equal to the cash dividends, if any, which would have been paid between July
20, 1999, and the Maturity Date with respect to issued and outstanding Class A Common Shares equal
in number to the number of Deferred Stock Units maturing on the Maturity Date. No interest shall be
paid on any dividend equivalent or any part thereof. All Class A Common Shares issued in exchange
for the remaining Deferred Stock Units shall, if

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available, be treasury shares of the Company. In the case of a Change in Control, “Maturity
Date” for purposes of this Paragraph 5(d) shall be the date of the Change in Control.

          6. Restricted Shares; Duff & Phelps Shares.

               (a) The Company has granted to Executive under the Incentive Plan 155,319 restricted Class A
Common Shares of the Company (the “New Restricted Shares”) vesting in equal annual installments on
each January 2 during the four years beginning January 1, 2004. Executive acknowledges that all
matters concerning the New Restricted Shares shall be governed by the Incentive Plan, except as
otherwise set forth herein or in the restricted share award agreement evidencing the New Restricted
Shares attached hereto as Exhibit A.

               (b) The New Restricted Shares are granted in lieu of restricted shares that Executive has not
earned but was otherwise eligible to earn under the Previous Employment Agreement pursuant to
future grants based on possible increases in value of the Network Companies as determined by Duff &
Phelps (the “Unearned Duff & Phelps Shares”). Executive agrees that his rights to any grants of
Unearned Duff & Phelps Shares with respect to 2002 or thereafter are hereby forfeited.

               (c) Under Paragraph 3(c) of the Previous Employment Agreement, Executive has earned a total of
141,783 Class A Common Shares (the “Eared Duff & Phelps Shares”), of which 40,910 shares are
vested. The remaining Eared Duff & Phelps Shares, which total 100,873 of the Earned Duff & Phelps
Shares, shall continue to vest in accordance with their vesting schedules, except as otherwise
provided in this Agreement.

               (d) If Executive’s employment hereunder is terminated for Cause under Paragraph 8(a)(ii)(A) by
the Company or by Executive upon Early Retirement (as defined
in Paragraph 11(d) hereof) prior to January 1, 2007 or for any other reason (other than as set

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forth in the next sentence of this Paragraph 6(d)), all Earned Duff & Phelps Shares and all New
Restricted Shares not vested on the date of any such termination shall be forfeited. If
Executive’s employment hereunder is terminated by the Company for Cause under Paragraph
8(a)(ii)(B) or (C) or without Cause or by Executive for Good Reason or upon Early Retirement on or
after January 1, 2007, or upon death or due to Permanent Disability, all Earned Duff & Phelps
Shares and all New Restricted Shares not vested on the date of any such termination shall vest
immediately upon such termination. In addition, upon a Change in Control all Earned Duff & Phelps
Shares and all New Restricted Shares not vested as of the Change in Control shall vest immediately
upon the Change in Control.

          7. Entitlements in the Event of Death or Permanent Disability.

               (a) In the event of Executive’s death or “Permanent Disability” (as hereinafter defined)
during the term of this Agreement, the Company shall continue, for the two-year period beginning on
the date of such death or Permanent Disability, to pay to Executive (or his successors and assigns
under the applicable laws of descent and distribution in the event of his death) Executive’s then
effective per annum rate of Base Salary, as determined under Paragraph 3 (a) above, and provide to
Executive (and to his family members covered under his family medical coverage immediately prior to
the date of death or Permanent Disability) the same medical coverage as provided to Executive (and
such family members) on the date of such death or Permanent Disability; provided that to the extent
that the Company’s medical plan does not permit continuation of Executive’s participation (in the
case of Permanent Disability) or his family members’ participation (in the case of Executive’s
death or Permanent Disability) throughout this period, the Company shall provide Executive (or his
family members in the case of Executive’s death), no less frequently than quarterly in advance,
with an amount, which after

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taxes, is sufficient for him (or such family members, as the case may be) to purchase substantially
equivalent medical benefits. Notwithstanding anything to the contrary in the foregoing, the Base
Salary payable to Executive pursuant to this Paragraph 7(a) shall be offset and therefore reduced
as follows: (i) in the case of Executive’s death, on a tax-effected basis, by all proceeds paid to
his estate or successors and assigns under applicable laws of descent and distribution pursuant to
any life insurance policy or policies (whether an individual or Company-wide policy or policies)
maintained on Executive’s life by the Company and on which the premiums are paid by the Company;
and (ii) in the case of Executive’s Permanent Disability, by any payment made in the same year that
Executive receives the salary continuation under any plan or plans maintained and paid for by the
Company (whether an individual or Company-wide policy or policies) for Executive’s benefit. From
and after the end of the two-year period beginning on the date of Executive’s Permanent Disability
and until Executive reaches the age of 65, Executive shall be entitled annually to receive from the
Company or under any plan or plans maintained and paid for by the Company (whether an individual or
a company-wide policy or policies) payments that equal no less than sixty percent (60%) of his per
annum rate of Base Salary effective at the time of his Permanent Disability.

               (b) Except as otherwise provided in Paragraph 7(a) above, in the event of Executive’s
death or Permanent Disability, Executive’s employment hereunder shall terminate and Executive shall
be entitled to no further compensation or other severance payments or employee benefits under this
Agreement, except Executive shall be entitled to:

          (i) a lump-sum payment in an amount equal to (x) the bonus, if any, payable based on
Executive’s Target Bonus for the year of termination that Executive would have earned based on the
Company’s performance during the

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year in which death or Permanent Disability occurred had he remained employed by the Company
(calculated without taking into account individual or subjective performance standards), times (y)
a fraction the numerator of which is the number of days that Executive was employed in the
applicable performance period and the denominator of which shall be the number of days in the
applicable performance period (“Pro-Rata Bonus”);

          (ii) immediate vesting and non-forfeitability of all unmatured Deferred Stock Units,
Earned Duff & Phelps Shares and unvested New Restricted Shares, with the Company immediately
exchanging the Deferred Stock Units for Class A Common Shares (the “DSU Shares”), and paying any
dividends due on the DSU Shares in accordance with Paragraph 5 above;

          (iii) immediate vesting and non-forfeitablity of all other outstanding equity awards
(including, but not limited to, stock options and restricted shares), with all vested options
(including options vesting pursuant to this subclause (iii)) remaining exercisable for the
remainder of their original terms;

          (iv) the pension benefits as provided pursuant to Paragraph 4(a) of this Agreement;

          (v) any earned but unpaid amounts as of the date of termination, including, but
not limited to, Base Salary through the date of termination, reimbursement for business
expenses and any incentive awards earned for performance periods that have ended; and

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          (vi) any other right, benefit or entitlement earned and payable, and not
subject to forfeiture as a result of such termination, under this Agreement or any
other Company plan, policy, program, arrangement of, or other agreement with, the
Company or any affiliate.

               (c) For purposes of this Agreement, Executive’s “Permanent Disability” shall mean
Executive’s inability, due to physical or mental incapacity, to substantially perform his duties
and responsibilities hereunder for a period of one hundred fifty (150) consecutive days as
determined by a medical doctor selected by Executive and the Company. If the Parties cannot agree
on a medical doctor, each party shall select a medical doctor and the two doctors shall select a
third who shall be the approved medical doctor for this purpose. In no event shall any termination
of Executive’s employment for Permanent Disability, either by Executive or the Company, occur until
the Party terminating his employment gives written notice to the other Party in accordance with
Paragraph 19 below.

          8. Termination.

               (a) The employment of Executive pursuant to the terms of this Agreement, and the
term of this Agreement:

          (i) shall be terminated automatically upon Executive’s death or
Permanent Disability as provided in Paragraph 7(c) above, or

          (ii) may be terminated for Cause (as defined herein) at any time by the Board (with any
such termination not being in limitation of any other right or remedy the Company may have under
this Agreement or otherwise). For purposes of this Agreement, the term “Cause” shall mean:

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          (A) Executive’s conviction of (without further right to appeal), or his pleading guilty to or
no contest with respect to, a felony involving embezzlement or theft; or his conviction of (without
further right to appeal) a felony or misdemeanor crime, in either case involving an act or series
of acts involving moral turpitude;

          (B) Executive’s gross misconduct or gross neglect in the performance of his duties under this
Agreement, which results in harm to the Company, unless such misconduct or neglect has been cured
by Executive in all material respects within twenty (20) days after the Company gives written
notice specifying the act constituting Cause to Executive (provided that no act or failure to act
shall be deemed to be gross misconduct or gross neglect if Executive believed in good faith that
such action or non-action was in, or not opposed to, the best interests of the Company or any
affiliate thereof); or

          (C) Executive’ s material breach of any material provision of (i) this Employment Agreement
(other than Paragraph 1 or Paragraph 2 hereof which shall be governed by subclause (B) above) or
(ii) any written employment policy of the Company which Executive knows about or should have known
about, provided that if such breach of such policy is of a type that has been committed by any
other employee(s) of the Company then that type of breach has consistently resulted in the
termination of such employee(s), and provided such breach (whether or not of the type committed by
any other employee) has not been cured by

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Executive in all material respects within twenty (20) days after the
Company gives written notice specifying the act constituting Cause
thereof to Executive.

Anything herein to the contrary notwithstanding, Executive shall not be terminated for
Cause within the meaning of subclauses (B) and (C) of this Paragraph 8(a)(ii), unless
Executive has an opportunity to be heard before the Board and, after such hearing, there
is a vote of no less than a majority of the members of the Board to terminate him for
Cause based on the act specified in the aforesaid written notice.

          (iii) may be terminated at any time by the Company without Cause; or

          (iv) may be terminated by Executive at any time for Good Reason (without
prior notice) or otherwise with thirty (30) days’ advance written notice to the
Company in accordance with Paragraph 19 below.

               (b) Upon any termination of Executive’s employment, Executive shall be deemed
automatically to have resigned from all offices and directorships held by Executive in the Company
or any of its subsidiaries, Executive’s employment with the Company for all purposes shall be
deemed to have terminated as of the effective date of such termination hereunder, irrespective of
whether the Company has a continuing obligation under this Agreement to make payments or provide
benefits to Executive after such effective date, and Executive shall execute such documents, if
any, as are reasonably provided by the Company to effect such resignations.

               (c) Anything herein to the contrary notwithstanding, expiration of the
term of this Agreement in accordance with the expiration of the original term (or any extension

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thereof) shall not result in Executive’s employment being terminated and in such event Executive
shall be an employee at-will, subject to the restrictive covenants of Paragraph 12 hereof and the
provisions of Paragraphs 6(a) and 6(d) hereof, which shall survive such expiration along with
this Paragraph 8(c), the definitions herein of the defined terms used in this Paragraph 8(c) and
Paragraph 25. If Executive terminates such at-will employment for Good Reason (as such term is
defined herein) or if the Company terminates Executive’s at-will employment without Cause (as
such term is defined herein), and upon Executive’s death, Permanent Disability, Normal Retirement
(as defined in Paragraph 11(c) below) or Early Retirement, in all cases after the expiration of
the term of this Agreement, all of Executive’s outstanding equity awards (including, but not
limited to, stock options, deferred stock units, the New Restricted Shares and restricted shares)
shall (to the extent not already vested) automatically vest and shall not be subject to
forfeiture and, in the case of options, be exercisable for their full respective terms,
notwithstanding anything to the contrary in the applicable plan or option grant or restricted
stock award contract, and upon any other termination of such at-will employment, Executive’s
rights with respect to any such equity awards shall be governed by the applicable plan or award
agreement without reference to this Agreement or any of the terms or provisions hereof

          9. Certain Termination Payments and Vesting Events.

               (a) If Executive’s employment with the Company is terminated by the Company without Cause
or by Executive for Good Reason other than within two years following a Change in Control,
Executive shall be entitled to the following upon execution and delivery to the Company of the
release described in Paragraph 14(c) hereof (the “Termination Release”):

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          (i) continued payment of Base Salary at the per annum rate then in effect under
Paragraph 3(a) above for a period equal to the greater of (A) three years beginning on the date of
such termination or (B) the balance of the term of this Agreement remaining at the time of such
termination (without regard to early termination of such term hereunder);

          (ii) payment of an amount equal to the Target Bonus then in effect under Paragraph 3(b)
times the greater of (A) two or (B) if the balance of the term of this Agreement remaining at the
time of such termination (without regard to early termination of such term hereunder) is greater
than two years, a fraction the numerator of which is the number of months remaining in such term
and the denominator of which is 12;

          (iii) a Pro-rata Bonus (as defined in Paragraph 7(b)(i) above) for the year of
termination;

          (iv) immediate vesting of all unmatured Deferred Stock Units, Earned Duff & Phelps Shares
and unvested New Restricted Shares, with the Company immediately exchanging the Deferred Stock
Units for the DSU Shares and paying any dividends due on the DSU Shares in accordance with
Paragraph 5 above;

          (v) immediate vesting and non-forfeitability of all other outstanding equity awards
(including, but not limited to, stock options and restricted shares other than the New Restricted
Shares), with all vested options (including options vesting pursuant to this subclause (v))
remaining exercisable for the remainder of their original terms;

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          (vi) the pension benefits as provided pursuant to Paragraph 4(a) of this Agreement;

          (vii) continued participation for Executive and his eligible dependents in all plans and
programs described in Paragraph 4(a) above then in effect for a period equal to the greater of (A)
two years beginning on the date of such termination or (B) the balance of the term of this
Agreement remaining at the time of such termination (without regard to early termination of such
term hereunder) (unless the terms of the applicable plans or relevant laws do not permit the
continuation of such benefits after such termination and such plans cannot be amended, with
applicability of such amendment limited to Executive, to provide for such continuation; provided
that, in all events, if the provisions of relevant law or the terms of the Company’s plans do not
permit continued participation, the Company shall provide Executive, no less frequently than
quarterly in advance, with an amount that, after taxes, is sufficient for him to purchase for
himself and his eligible dependents benefits substantially equivalent to those for which continued
participation by Executive or his eligible dependents is not permitted); provided, however, that
any benefits received pursuant to this subparagraph (vii) of Paragraph 9(a) shall be offset and
therefore reduced by any substantially equivalent benefits provided Executive during this benefit
continuation period pursuant to any full-time employment or consultancy secured following such
termination;

          (viii) any earned but unpaid amounts as of the date of termination, including, but not
limited to, Base Salary through the date of

17

 

          termination, reimbursement for business expenses and any incentive awards
earned for performance periods that have ended; and

          (ix) any other right, benefit or entitlement earned and payable,
and not subject to forfeiture as a result of the applicable termination event, under
this Agreement or any other Company plan, policy, program, arrangement of, or
other agreement with, the Company or any affiliate.

               (b) If Executive’s employment is terminated by the Company for Cause or by Executive for
any reason (other than for Good Reason or upon death, Normal Retirement or Early Retirement, or due
to Permanent Disability), Executive shall be entitled to no further compensation or other severance
payments or employee benefits under this Agreement, shall forfeit all earned and unvested Duff &
Phelps Shares and all unvested New Restricted Shares, and all other outstanding equity awards
(including, but not limited to, stock options (whether or not vested), deferred stock units and
restricted shares) shall be treated in accordance with the applicable plan or award agreement;
provided, however, that Executive shall be entitled to:

          (i) issuance of 19,207 DSU Shares and payment of dividends
with respect thereto on January 15, 2004, in exchange for the remaining Deferred
Stock Units;

          (ii) any earned but unpaid amounts as of the date of
termination, including, but not limited to, Base Salary through the date of
termination, reimbursement of business expenses and any incentive awards earned
for performance periods that have ended;

18

 

          (iii) any other right, benefit or entitlement earned and payable, and not
subject to forfeiture as a result of the applicable termination event, under this
Agreement or any other Company plan, policy, program, arrangement of, or other
agreement with, the Company or any affiliate;

          (iv) as provided in Paragraph 6(d) hereof, in the case of termination of
Executive’s employment by the Company for Cause under Paragraph 8(a)(ii)(B) or (C)
hereof, all Earned Duff & Phelps Shares and all New Restricted Shares not vested on
the date of any such termination shall vest immediately upon such termination and
thereafter be non-forfeitable; and

          (v) the pension benefits as provided pursuant to Paragraph 4(a) of this
Agreement.

Notwithstanding anything to the contrary in this Paragraph 9(b), in the event of Executive’s Early
Retirement prior to January 1, 2007, all unvested Earned Duff & Phelps Shares and all unvested New
Restricted Shares (to the extent such shares are unvested on the date of such retirement) shall be
forfeited as provided in Paragraph 6(d) hereof.

               (c) If Executive’s employment with the Company is terminated within two years after a Change
in Control by the Company without Cause or by Executive for Good Reason, Executive shall be
entitled to the Change in Control termination payments set forth in Paragraph 10 below upon
execution and delivery to the Company of the Termination Release.

               (d) If Executive’s employment is terminated upon reaching Normal Retirement, whether such
termination is voluntary or involuntary, or upon reaching Early Retirement if such termination is
voluntary, the Executive shall be entitled to the following:

19

 

     (i) immediate vesting and non-forfeitablity of all outstanding
equity awards (including, but not limited to, stock options and restricted
shares), with all vested options (including options vesting pursuant to this
subclause (i)) remaining exercisable for the remainder of their original
terms; provided, however, in the case of Early Retirement prior to January
1, 2007, Executive shall forfeit all unvested Eared Duff & Phelps Shares and
all unvested New Restricted Shares (to the extent such shares are unvested
on the date of such retirement), and all other outstanding equity awards
(including, but not limited to, stock options and restricted shares) shall
be treated in accordance with the applicable plan or award agreement;

     (ii) the pension benefits as provided pursuant to Paragraph 4(a)
of this Agreement;

     (iii) any earned but unpaid amounts as of the date of termination,
including, but not limited to, Base Salary through the date of termination,
reimbursement for business expenses and any incentive awards earned for
performance periods that have ended; and

     (iv) any other right, benefit or entitlement earned and payable,
and not subject to forfeiture as a result of such retirement, under this
Agreement or any other Company plan, policy, program, arrangement of, or
other agreement with, the Company or any affiliate.

     Anything herein to the contrary notwithstanding, upon Normal Retirement or Early
Retirement, Executive shall not be entitled to severance pursuant to Section 9(a) hereof.

20

 

          (e) Except as otherwise provided herein, all payments required to be
made pursuant to this Paragraph 9 or Paragraph 10 below (but not including any pension benefits
payable under Paragraph 4(a) hereof, which benefits shall be paid in accordance with Executive’s
election made pursuant to the applicable plans) shall be paid in a lump-sum within 30 days after
the date of termination unless Executive has made an election under a plan or program that the
amount or benefit be paid in some other form.

     10. Change in Control Protections; Change in Control Termination Payments.

          (a) Upon a Change in Control, all outstanding equity awards,
including but not limited to Deferred Stock Units, Earned Duff & Phelps Shares, New Restricted
Shares, and any stock options and other restricted shares, shall immediately vest and not be
subject to forfeiture, with all vested stock options (including those vesting pursuant to this
Paragraph 10(a)) remaining exercisable for the remainder of their original terms.

          (b) Executive will be entitled to the compensation set forth in
Paragraphs 10(b) and 10(d) hereof (the “CIC Compensation”) if his employment is terminated within
two years after a Change in Control (i) by the Company without Cause, or (ii) by him with Good
Reason (in either case, the “CIC Trigger”). Notwithstanding the foregoing, Executive will not be
entitled to CIC Compensation in the event of a termination of his employment following a Change in
Control on account of his death or Permanent Disability, or Normal Retirement (whether voluntary or
involuntary) or Early Retirement or other termination by him on his own initiative other than for
Good Reason. In the event of a CIC Trigger, Executive shall be entitled to the CIC Compensation
provided below upon execution and delivery to the Company of the Termination Release:

21

 

     (i) in lieu of any further salary, bonus or other payments to Executive for periods
subsequent to the date of termination, the Company shall pay to Executive not later than the
thirtieth day following the date of termination a cash amount equal to the sum of: (x) an amount
equal to three times the greater of (A) Executive’s base salary at the highest annualized rate paid
in the three calendar years prior to the date of termination or (B) the Base Salary; and (y) an
amount equal to three times the greater of (A) 100% of his Target Bonus for the year of such
termination or (B) the highest annual bonus he received for the three calendar years prior to the
date of termination;

     (ii) until the earlier of (A) the third anniversary of the date of termination or (B)
Executive’s death (but only in respect to Executive’s own benefits) or his securing of full-time
employment which provides substantially equivalent benefits, the Company shall provide Executive
(and his eligible dependents, as the case may be) with life, medical, dental, and accidental death
and disability insurance benefits substantially equivalent to those which Executive and his
eligible dependents were receiving immediately prior to the date of termination, or immediately
prior to a Change in Control, if greater, provided that Executive shall be obliged to continue to
pay that proportion of premiums paid by him immediately prior to the Change in Control.
Notwithstanding the foregoing, in the event that participation in any such program is not possible
under the terms of such program, the Company shall arrange to provide Executive and his eligible
dependents with benefits substantially equivalent to those which they are entitled

22

 

to receive under such program, or shall provide an after-tax payment equivalent to
the value of such program if it cannot be provided in-kind;

     (iii) any earned but unpaid amounts as of the date of termination,
including, but not limited to, Base Salary through the date of termination,
reimbursement for business expenses and any incentive awards earned for
performance periods that have ended;

     (iv) immediate vesting and non-forfeitability of all other outstanding
equity awards (including, but not limited to, stock options and restricted shares),
with all vested options (including options vesting pursuant to this subclause (iv))
remaining exercisable for the remainder of their original terms;

     (v) the pension benefits as provided pursuant to Paragraph 4(a) of this
Agreement; and

     (vi) any other right, benefit or entitlement earned and payable, and not
subject to forfeiture as a result of such termination, under this Agreement or under
any other Company plan, policy, program, arrangement of, or other agreement with,
the Company or any affiliate.

          (c) Anything in this Agreement to the contrary notwithstanding, in the event it shall be
determined (as hereafter provided) that any payment, benefit or distribution to or for Executive’s
benefit, whether paid or payable or distributed or distributable pursuant to the terms of this
Agreement or otherwise pursuant to or by reason of any other agreement, policy, plan, program or
arrangement or similar right (a “Payment”), would be subject to the excise tax imposed by Section
4999 of the Internal Revenue Code of 1986 (or any successor provision

23

 

thereto), or any interest or penalties with respect to such excise tax (such tax, together with any
such interest and penalties, hereafter collectively referred to as the “Excise Tax”), then
Executive shall be entitled to receive an additional payment or payments (a “Gross-Up Payment”) in
an amount such that, after payment by Executive of all taxes (including any interest or penalties
imposed with respect to such taxes), including any Excise Tax, imposed upon the Gross-Up Payment,
Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the
Payments.

          All determinations required to be made under this Paragraph 10(c), including whether an Excise
Tax is payable by Executive, the amount of such Excise Tax, whether a Gross-Up Payment is required,
and the amount of such Gross-Up Payment, shall be made by a nationally-recognized legal or
accounting firm (the “Firm”) (which may be the Company’s independent auditor) selected by the
Company in its sole discretion. The Firm shall submit its determination and detailed supporting
calculations to Executive and the Company as promptly as practicable. If the Firm determines that
any Excise Tax is payable by Executive and that a Gross-Up Payment is required, the Company shall
pay Executive the required Gross-Up Payment within thirty (30) days of receipt of such
determination and calculations. If the Firm determines that no Excise Tax is payable by Executive,
it shall, at the same time it makes such determination, furnish Executive with an opinion that
Executive has substantial authority not to report any Excise Tax on Executive’s federal income tax
return. Any determination by the Firm as to the amount of the Gross-Up Payment shall be binding
upon Executive and the Company. As a result of the uncertainty in the application of Section 4999
of the Internal Revenue Code of 1986 (or any successor provision thereto) at the time of the
initial determination by the Firm hereunder, it is possible that Gross-Up Payments which will not
have been made by the

24

 

Company should have been made (an “Underpayment”). If Executive thereafter is required to make a
payment of any Excise Tax, the Firm shall determine the amount of the Underpayment (if any) that
has occurred and submit its determination and detailed supporting calculations to Executive and the
Company as promptly as possible. Any such Underpayment shall be promptly paid by the Company to
Executive, or for Executive’s benefit, within thirty (30) days of receipt of such determination and
calculations.

               Executive and the Company shall each provide the Firm access to and
copies of any books, records or documents in the possession of the Company or Executive, as the
case may be, reasonably requested by the Firm, and shall each otherwise cooperate with the Firm in
connection with the preparation and issuance of the determinations contemplated by this Paragraph.

               The fees and expenses of the Firm for services in connection with the determinations and
calculations contemplated by this Paragraph 10(c) shall be borne by the Company.

               (d) In the event of a CIC Trigger, Company shall provide Executive, at the Company’s
cost, reasonable outplacement services for a period of eighteen months following the date of
termination and will reimburse Executive for his reasonable legal expenses in an amount not to
exceed $75,000 should he have to institute legal proceedings to enforce the provisions of this
Paragraph 10.

          11. Definitions.

               (a) “Change in Control” of the Company shall mean any of the following:

25

 

          (i) any “person”, as such term is used in Sections 3(a)(9) and 13(d) of the Securities
Exchange Act of 1934, becomes a “beneficial owner”, as such term is used in Rule 13d-3 promulgated
under that Act, of a majority of the outstanding Common Voting Shares, $.01 par value, of the
Company (or shares of capital stock of the Company with comparable or unlimited voting rights),
excluding, however, The Edward W. Scripps Trust (the “Trust”) and the trustees thereof, and any
person that is or becomes a party to the Scripps Family Agreement, dated October 15, 1992, as
amended currently and as it may be amended from time to time in the future (the “Family
Agreement”);

          (ii) the majority of the Board consists of individuals other than Incumbent Directors,
which term means the members of the Board on the Effective Date; provided that any person becoming
a director subsequent to such date whose election or nomination for election was supported by a
majority of the directors who then comprised the Incumbent Directors shall be considered to be an
Incumbent Director;

          (iii) assets of the Company accounting for 90% or more of the Company’s revenues
(hereinafter referred to as “substantially all of the Company’s assets”) are disposed of pursuant
to a merger, consolidation, sale, or plan of liquidation and dissolution (unless the Trust or the
parties to the Family Agreement beneficially own, directly or indirectly, a controlling interest
(defined as owning a majority of the voting power) in the entity surviving such merger or
consolidation or acquiring such assets upon such sale or in connection with such plan of
liquidation and dissolution); or

26

 

          (iv) any event which would constitute a “Change in Control” under the
Incentive Plan.

     Notwithstanding anything to the contrary in the foregoing definition, neither the
termination of the Trust nor the effectiveness, as a result of such termination, of the Family
Agreement shall constitute a “Change in Control”.

               (b) “Good Reason” means any of the following:

          (i) the reduction of Executive’s Base Salary or Target Bonus below the
amount of Base Salary or Target Bonus in effect immediately prior to such
reduction;

          (ii) any failure by the Company to continue in effect the Incentive Plan
or provide other similar plans pursuant to which Executive will be eligible to
receive grants relating to securities of the Company (including, without limitation,
stock options, stock appreciation rights, restricted stock or other equity based
awards) (hereinafter referred to as “Securities Plans”) or provide substitutes for
such Securities Plans which in the aggregate provide substantially comparable
economic benefits to those he has been receiving;

          (iii) the assignment to Executive of any duties inconsistent with, or a
material diminution of, Executive’s duties, titles, offices, responsibilities or
status from those of Executive with the Company as contemplated by this Agreement,
or any removal of Executive from or any failure to reelect or reappoint Executive to
any positions set forth in Paragraph 1(a) and Paragraph 2(b) above, including as a
Director of the Company, unless such removal or failure to reelect or reappoint
results from the termination of Executive’s

27

 

employment for Cause in accordance with Paragraph 8(a)(ii) above, by reason of death
or Permanent Disability in accordance with Paragraph 7(c) above, or as a result of
Executive’s Normal Retirement or Early Retirement or other termination of employment
by him at his own initiative other than for Good Reason;

          (iv) a change in reporting structure such that Executive reports to
someone other than the Board;

          (v) relocation or reassignment of Executive, without his consent, to work
in a location more than twenty-five (25) miles outside of the Cincinnati, Ohio
metropolitan area;

          (vi) the Company’s failure to cure within thirty (30) days of notice
thereof from Executive any material breach of this Agreement by the Company provided
that the Board has not taken steps prior to such notice to terminate Executive for
Cause in accordance with this Agreement; or

          (vii) the failure of any successor to all or “substantially all of the
Company’s assets” (as defined in Paragraph 11(a)(iii) hereof) to assume the
Company’s obligations under this Agreement.

               (c) “Normal Retirement” means retirement (whether voluntary or
involuntary): (i) under the Scripps Pension Plan on the first day of the month coinciding with or
immediately following Executive reaching Normal Retirement Age (as defined under the Scripps
Pension Plan), or (ii) if more favorable to Executive, as otherwise defined or determined by the
Board with respect to Executive or the senior executives of the Company generally.

28

 

               (d) “Early Retirement” means retirement on the Executive’s own
initiative under the Scripps Pension Plan on or after Executive’s 55th birthday and
prior to the first day of the month coinciding with or immediately following his 65th
birthday.

          12. Certain Covenants.

               (a) Noncompete. During the term of this Agreement and for one year following the
date of termination of Executive’s employment hereunder, except as otherwise provided in the last
sentence of this Paragraph 12(a) or in the ordinary course of performing his duties for the Company
or any affiliate, Executive shall not do or suffer any of the following:

                    (i) directly or indirectly own, manage, control or participate in
the ownership, management, or control of, or be employed or engaged by or otherwise affiliated or
associated as a consultant, independent contractor or otherwise with, any corporation, partnership,
proprietorship, firm, association or other business entity which is in competition with any
business segment of the Company that generates 5% or more of the Company’s revenues as and where
conducted by the Company both at the time of Executive’s termination of employment and at the time
of the alleged violation (“Competitive Enterprise”); provided, however, the following shall not be
deemed to be a violation of this Paragraph 12(a): (A) the ownership of not more than two percent
(2%) of any class of publicly traded securities of any entity, (B) Executive’s ownership of any
interest in DNL, Inc., a corporation formed by Executive and certain other persons, or any
successor to DNL (including Executive’s operating DNL as a sole proprietorship) (“DNL”) or his
provision of services thereto, so long as DNL is not competing with the Home & Garden Television
Network, the Food Network, the Do-It-Yourself Network, the Fine Living Network or any other
national television network controlled or operated by the Company or any of its subsidiaries prior
to or as of the date Executive’s

29

 

employment is terminated, and so long as Executive’s ownership of such interest in DNL, his
participation in the management or control of DNL or his employment or engagement thereby or
affiliation or association therewith does not materially interfere with his full-time employment
hereunder, (C) continued service as a member of the board of directors of any entity on which
Executive was serving on the date of termination (subject to the limitations set forth in Paragraph
1(c) hereof during the term of this Agreement), (D) service as a member of the board of directors
or as a member of an advisory committee of any entity which is not engaged in a Competitive
Enterprise (subject to the limitations set forth in Paragraph 1(c) hereof during the term of this
Agreement), or (E) providing services to a subsidiary, division or affiliate of a Competitive
Enterprise if such subsidiary, division or affiliate is not itself engaged in a Competitive
Enterprise and Executive does not provide services to, or have any responsibilities regarding, the
Competitive Enterprise; or

                    (ii) solicit the employment of, or knowingly assist another in
soliciting the employment of, any officers of the Company or any of its subsidiaries at the level
of vice president or above or induce any such officer to terminate such relationship. Nothing
herein shall prevent Executive from giving personal references for any such officer setting forth
his personal views about such officer. Anything herein to the contrary notwithstanding, the Company
acknowledges that its employees or those of its affiliates may join other entities with which
Executive is affiliated and that that event will not constitute a violation of this Agreement if
Executive was not involved (directly or through contacts with others) in hiring or in identifying
the employee of the Company or its affiliate as a potential recruit or otherwise assisting in, or
counseling others concerning, the recruitment of the employee of the Company or affiliate for such
entity.

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     Executive expressly agrees and understands that the remedy at law for any breach by him of
this Paragraph 12(a) may be inadequate and that the damages flowing from such breach are not
readily susceptible to being measured in monetary terms. Accordingly, it is acknowledged that, upon
adequate proof of Executive’s violation of any provision of this Paragraph 12(a), the Company shall
be entitled to immediate injunctive relief and may obtain a temporary order restraining any
threatened or further breach. Furthermore, if the Board makes a good faith determination based upon
adequate proof that Executive has violated any material provision of this Paragraph 12(a), the
Company may withhold any amounts owed pursuant to this Agreement to Executive at the time the Board
makes such good faith determination, provided that in no event shall the Company withhold or fail
to pay any pension benefit (whether payable under any qualified or non-qualified plan (including
the Supplemental Plan) of the Company or any affiliate or under Paragraph 4(a) hereof) and
provided, further, that if it is subsequently determined by an arbitrator pursuant to Paragraph 18
below that Executive did not commit such violation, the Company shall promptly pay all such unpaid
amounts to Executive with interest on a cumulative daily compounded basis at the rate of LIBOR from
the date such payment was due until the date it is actually paid to Executive. Nothing in this
Paragraph 12(a) shall be deemed to limit the Company’s remedies at law or in equity for any breach
by Executive of any of the provisions of this Paragraph 12(a) which may be pursued or availed of by
the Company. If an arbitrator determines that Executive violated any legally enforceable provision
of this Paragraph 12(a) as to which there is a specific time period during which he is prohibited
from taking certain actions or from engaging in certain activities as set forth in such provision,
then such violation shall toll the running of such time period from the date of such violation
until such violation shall cease. Executive has carefully considered the nature and extent of the

31

 

restrictions upon him and the rights and remedies conferred upon the Company under this Paragraph
12(a), and hereby acknowledges and agrees that the same are reasonable in time and territory, are
designed to eliminate competition which otherwise would be unfair to the Company, do not stifle the
inherent skill and experience of Executive, would not operate as a bar to Executive’s sole means of
support, are fully required to protect the legitimate interests of the Company and do not confer a
benefit upon the Company disproportionate to the detriment to Executive. Notwithstanding anything
to the contrary in this Paragraph 12(a), if Executive terminates his employment for Good Reason or
if his employment is terminated by the Company without Cause (whether before or after a Change in
Control), the provisions of this Paragraph 12(a) shall be deemed null and void from and after any
such termination.

               (b) Intellectual Capital. All copyrightable material
originated and
developed by Executive during the term of this Agreement (the “Works”) relating to the business of
the Company shall constitute “works made for hire” for the Company, as the phrase is defined in
Sections 101 and 201 of the Copyright Act of 1976 (Title 17, United States Code), and the Company
shall be considered the author and shall be the copyright owner of all such Works. Upon the
Company’s request and at its sole expense, Executive shall execute such documents and do such other
acts as may be reasonably necessary to further evidence or effectuate the Company’s rights in and
to the Works. If any of the Works do not qualify for treatment as a “work made for hire” or if
Executive retains any interest in any components of the Works for any other reason except a
specific written agreement to the contrary, Executive hereby grants, assigns and transfers to the
Company all worldwide right, title, and interest in and to the Works, including, but not limited
to, all United States and international copyrights and all other

32

 

intellectual property rights in the Works, and all subsidiary rights therein, free and clear of any
and all claims for royalties or other compensation except as stated in this Agreement.

               (c) Trade Secrets And Confidential Information.

                    (i) Executive recognizes and acknowledges that by virtue of
Executive’s employment with the Company, Executive will have access to certain trade secrets and
confidential information of the Company and its subsidiaries and that such information constitutes
valuable, special and unique property of the Company and its subsidiaries, and derives economic
value because it is not generally known to the public or within the relevant trade or industry
(“Trade Secrets and Confidential Information”). Trade Secrets and Confidential Information
includes, but is not limited to, the following Company information: (A) customer information,
including, without limitation, customer lists and other information concerning particular needs,
problems, likes or dislikes of the Company’s customers; (B) the identities of the Company’s
customers; (C) price information, such as price lists, the contents of bids, and other information
concerning costs or profits; (D) technical information, such as formulae, know-how, computer
programs, software, secret processes or machines, inventions and research projects or other methods
or processes; (E) business information relating to costs, profits, sales, markets, suppliers, plans
for further development, market studies, methods of doing business or research projects; (F)
compilation of data by the Company concerning the Company’s employees and independent contractors
relating to employment by the Company of its personnel; and (G) any other Company information
valuable because of its private or confidential nature. Trade Secrets and Confidential Information
may be oral or written and may be information which Executive originates or which otherwise comes
into Executive’s possession or knowledge.

33

 

               (ii) Executive agrees that Executive shall treat all Trade Secrets
and Confidential Information of the Company obtained by Executive during the course of his
employment as confidential and shall not knowingly divulge or disclose any of same gained by
Executive in connection with Executive’s employment by the Company to any other person, firm,
corporation or entity, except upon the written request or instruction of the Company or in the
ordinary course of Executive’s performing his duties for the Company or any affiliate. Anything
herein to the contrary notwithstanding, the provisions of this Paragraph 12(c) shall not apply (A)
when disclosure is required by law or by any court, arbitrator, mediator or administrative or
legislative body (including any committee thereof) with apparent or actual jurisdiction to order
Executive to disclose or make accessible any information, (B) with respect to any other litigation,
arbitration or mediation involving this Agreement or any other agreement Executive may have with
the Company, including, but not limited to, the enforcement of such agreements or (C) as to Trade
Secrets or Confidential Information that becomes generally known to the public or within the
relevant trade or industry other than due to Executive’s violation of this Paragraph 12(c).

               (iii) Return of Confidential Information. Upon
separation from
employment with the Company, Executive shall immediately surrender to the Company all Trade Secrets
and Confidential Information and any and all documents, materials or other tangible items
pertaining to Trade Secrets and Confidential Information that Executive may possess. All Trade
Secrets and Confidential Information shall be and remain the sole property of the Company and its
subsidiaries. If Executive is in doubt as to whether any information, material, or document is a
Trade Secret or is Confidential Information, Executive will use his best efforts to contact the
Board before disclosing or using same for any purpose other than in

34

 

the ordinary course of performing his duties for the Company and its affiliates or as otherwise
permitted under Paragraph 12(c)(ii) above. The covenants of this Paragraph 12(c)(iii) shall
continue for as long after the termination of this Agreement as any Trade Secret or Confidential
Information continues to constitute a trade secret under applicable law. Anything herein to the
contrary notwithstanding, Executive shall be entitled to retain (A) any home office equipment
provided that any Trade Secret or Confidential Information is not retained by Executive on such
equipment, (B) papers and other materials of a personal nature, including, but not limited to,
photographs, correspondence, personal diaries, calendars and rolodexes, personal files and phone
books, (C) information showing Executive’s compensation or benefits or relating to reimbursement of
business expenses, (D) information that he reasonably believes may be needed for tax purposes, (E)
copies of plans, programs and agreements relating to his employment, or termination thereof, with
the Company and (F) minutes, presentation materials and personal notes from any meeting of the
Board, or any committee thereof, while he was a member of the Board.

          13. Withholding Taxes.

               All payments to Executive hereunder shall be subject to withholding on account of federal,
state and local taxes as required by law.

          14. No Conflicting Agreements; Mutual Releases.

               (a) No Conflicting Agreements. Executive represents and warrants that he is not
a party to any agreement, contract or understanding, whether employment or otherwise, which would
restrict or prohibit him from undertaking or performing employment in accordance with the terms and
conditions of this Agreement. This Agreement supercedes the
Previous Employment Agreement. The Previous Employment Agreement is hereby terminated.

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               (b) Mutual Release Regarding Previous Employment. Each of the Company and Executive
acknowledges that any and all obligations of the other to it or him arising under the Previous
Employment Agreement have been fulfilled to its or his satisfaction, as the case may be, and each
of the Company and Executive hereby releases the other of any and all claims it or he may have
against the other arising under or in connection with the Previous Employment Agreement.

               (c) Mutual Termination Release. Each of the Company and Executive shall execute and
deliver to the other a release in the form attached hereto as Exhibit B upon any
termination of Executive’s employment by Executive for Good Reason or by the Company of Executive’s
employment without Cause. Executive’s execution and delivery of such release shall be a condition
to Executive’s receiving any payment or other benefit that he would otherwise not be entitled to
upon such termination absent this Agreement.

          15. Indemnification; D&O Liability Insurance.

               (a) The Company agrees that if Executive is made a party to, is
threatened to be made a party to, receives any legal process in, or receives any discovery request
or request for information in connection with, any action, suit or proceeding, whether civil,
criminal, administrative or investigative (a “Proceeding”), by reason of the fact that he was a
director, officer, employee, consultant or agent of the Company, or was serving at the request of,
or on behalf of, the Company as a director, officer, member, employee, consultant or agent of
another corporation, limited liability corporation, partnership, joint venture, trust or other
entity, including service with respect to employee benefit plans, whether or not the basis of such
Proceeding is Executive’s alleged action in an official capacity while serving as a director,
officer, member, employee, consultant or agent of the Company or other entity, Executive shall

36

 

be indemnified and held harmless by the Company to the fullest extent permitted or authorized by
the Company’s Articles of Incorporation or Code of Regulations or, if greater, by the laws of the
State of Ohio, against any and all costs, expenses, liabilities and losses (including, without
limitation, attorneys’ fees reasonably incurred, judgments, fines, ERISA excise taxes or
penalties and amounts paid or to be paid in settlement and any reasonable cost and fees incurred
in enforcing his rights to indemnification or contribution) incurred or suffered by Executive in
connection therewith, and such indemnification shall continue as to Executive even though he has
ceased to be a director, officer, member, employee, consultant or agent of the Company or other
entity and shall inure to the benefit of Executive’s heirs, executors and administrators. The
Company shall reimburse Executive for all costs and expenses (including, without limitation,
reasonable attorneys’ fees) incurred by him in connection with any Proceeding within 20 business
days after receipt by the Company of a written request for such reimbursement and appropriate
documentation associated with these expenses. Such request shall include an undertaking by
Executive to repay the amount of such advance if it shall ultimately be determined that he is not
entitled to be indemnified against such costs and expenses; provided that the amount of such
obligation to repay shall be limited to the after-tax amount of any such advance except to the
extent Executive is able to offset such taxes incurred on the advance by the tax benefit, if any,
attributable to a deduction for repayment.

               (b) Neither the failure of the Company (including its Board, independent legal counsel
or stockholders) to have made a determination prior to the commencement of any proceeding
concerning payment of amounts claimed by Executive under Paragraph 15 (a) above that
indemnification of Executive is proper because he has met the —applicable standard of conduct, nor
a determination by the Company (including its Board,

37

 

independent legal counsel or stockholders) that Executive has not met such applicable standard of
conduct, shall create a presumption or inference that Executive has not met the applicable standard
of conduct.

               (c) The Company agrees to continue and maintain a directors’ and officers’ liability insurance
policy or policies covering Executive at a level, and on terms and conditions, no less favorable to
him than the coverage the Company provides its directors and senior-level officers currently
(subject to any future improvement in such terms and conditions), until such time as suits against
Executive are no longer permitted by law.

               (d) Nothing in this Paragraph 15 shall be construed as reducing or
waiving any right to indemnification, or advancement of expenses, Executive would otherwise have
under the Company’s Articles of Incorporation or Code of Regulations or under applicable law.

          16. Severable Provisions.

               The provisions of this Agreement are severable and if any one or more provisions may be
determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions
and any partially unenforceable provision to the extent enforceable in any jurisdiction
nevertheless shall be binding and enforceable.

          17. Binding Agreement.

               The rights and obligations of the Company under this Agreement shall
inure to the benefit of, and shall be binding on, the Company and its successors and assigns, and
the rights and obligations (other than obligations to perform services) of Executive under this
Agreement shall inure to the benefit of, and shall be binding upon, Executive and his heirs and
personal representatives. Executive may not assign this Agreement or any of his rights or

38

 

obligations hereunder without the Company’s prior written consent, other than his rights to
compensation and benefits, which may be assigned or transferred by will or operation of law,
provided that Executive shall be entitled, to the extent permitted under applicable law or the
relevant plans, to select and change a beneficiary or beneficiaries to receive any compensation or
benefit hereunder following his death by giving the Company written notice thereof. In the event of
Executive’s death or a judicial determination of his incompetence, references in this Agreement to
Executive shall be deemed, where appropriate, to refer to his beneficiary, estate or other legal
representative.

          The Company may not assign its rights or obligations under this Agreement, without Executive’s
prior written consent, except that such rights and obligations may be assigned or transferred
pursuant to a merger or consolidation in which the Company is not the continuing entity, or a sale,
liquidation or other disposition of all or “substantially all of the Company’s assets” (as defined
in Paragraph 1 1(a)(iii) hereof) of the Company, provided that the assignee or transferee is the
successor to all or “substantially all of the Company’s assets” (as defined in Paragraph 1
1(a)(iii) hereof) and assumes the liabilities, obligations and duties of the Company under this
Agreement, either contractually or as a matter of law.

          18. Arbitration; Jurisdiction.

               Any controversy or claim arising out of or relating to this Agreement, or the breach thereof,
any other agreement or arrangement in writing between Executive and the Company or any affiliate or
Executive’s employment with the Company or any affiliate, or the termination thereof (collectively
“Covered Claims”) shall be settled by binding arbitration in the City of Cincinnati, Ohio, in
accordance with the Commercial Arbitration Rules of the American Arbitration Association then
pertaining in such city, and judgment upon the award rendered by

39

 

the arbitrator or arbitrators may be entered in any court in Hamilton County, Ohio, having
jurisdiction thereof. The arbitrator or arbitrators shall be deemed to possess the powers to issue
mandatory orders and restraining orders in connection with such arbitration; provided, however,
that nothing in this Paragraph 18 shall be construed so as to deny the Company the right and power
to seek and obtain injunctive relief in a court of equity in Hamilton County, Ohio, for any breach
or threatened breach by Executive of any of his covenants contained in Paragraph 12 hereof, and
provided, further, that neither party shall be liable for punitive or exemplary damages. Each Party
shall be responsible for its or his own costs and expenses (including attorneys’ fees). The Parties
hereto agree that federal and state courts in Hamilton County, Ohio, shall have exclusive
jurisdiction with respect to the entry of judgment upon any arbitration award hereunder or the
granting of any injunctive relief for any breach or threatened breach by Executive of the covenants
contained in Paragraph 12 hereof, and such courts shall have exclusive jurisdiction with respect to
any other controversy or claim arising out of or relating to this Agreement, or the breach thereof,
that may properly be brought therein if the provisions herein mandating arbitration are held to be
unenforceable. Pending the resolution of any Covered Claim, and except as set forth in Paragraph
12(a) hereof, Executive (and his beneficiaries) shall continue to receive all payments, benefits
and entitlements due under this Agreement or otherwise.

          19. Notices.

               Any notice, request or other communication given in connection with this Agreement shall be in
writing and shall be deemed to have been duly given (i) when personally delivered to the recipient
provided that a written acknowledgement of receipt is obtained, (ii) three days after being sent by
certified or registered mail, postage prepaid or (iii) two days

40

 

after being sent by a nationally recognized overnight courier provided that a written
acknowledgement of receipt is obtained, in each case addressed to the intended recipient at the
address set forth at the end of this Agreement, or at such other address as such intended recipient
hereafter may have designated by ten (10) days’ advance written notice given to the other party
hereto in accordance with this Paragraph 19.

          20. No Mitigation/No Offset.

               In the event of any termination of his employment, Executive shall be under no obligation to
seek other employment and, except as otherwise expressly provided herein, there shall be no offset
against or reduction of amounts due to him on account of any remuneration or benefits provided by
any subsequent employment he may obtain. Except to the extent expressly provided in Paragraph 12(a)
hereof with regard to the Company’s ability to withhold certain payments, the Company’s obligation
to make any payment pursuant to, and otherwise perform its obligations under, this Agreement shall
not be affected by any offset, counterclaim or other right that the Company may have against
Executive for any reason.

          21. Company’s Representations and Warranties.

               The Company represents and warrants that (i) all corporate action required to be taken by the
Company to fully authorize the execution, delivery and performance of this Agreement and the
consummation of the transactions contemplated hereby has been duly and effectively taken, (ii) the
officer signing this Agreement on behalf of the Company is duly authorized to do so, (iii) the
execution, delivery and performance of this Agreement does not violate any applicable law,
regulation, order, judgment or decree or any agreement, plan or corporate governance document to
which the Company is a party or by which it is bound and (iv) upon execution and delivery of this
Agreement by the Parties, it shall be a valid and binding

41

 

obligation of the Company enforceable against it in accordance with its terms, except to the extent
that enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting
the enforcement of creditors’ rights generally.

          22. Waiver.

               The failure of either Party to enforce any provision of this Agreement shall not in any way be
construed as a waiver of any such provision as to any future violation thereof, nor prevent that
party thereafter from enforcing each and every other provision of this Agreement. The rights
granted the Parties herein are cumulative and the waiver of any single remedy shall not constitute
a waiver of such Party’s right to assert all other legal remedies available to him or it under the
circumstances. Any waiver of any provision of this Agreement must be in writing, specifically refer
to the provision being waived and be signed by the party against whom the waiver is being enforced.

          23. Amendment.

               No amendment or modification of any provision of this Agreement shall be valid, unless such
amendment or modification is in writing and signed by Executive and an authorized officer of the
Company.

          24. Governing Law.

               This Agreement shall be governed by and construed according to the laws of the State of Ohio
without reference to principles of conflicts of law. In the event of any inconsistency between
the provisions of this Agreement and any other agreement, plan, policy, program or agreement of the
Company or any of its affiliates, the provision that is most favorable to Executive shall govern.
Notwithstanding anything in this Agreement, any other agreement or any plan, policy or program of
the Company to the contrary, the Company’s plans,

42

 

policies and programs, including but not limited to the Incentive Plan, and any applicable award
agreement, shall be deemed to be amended by this Agreement to the extent necessary to provide the
entitlements set forth herein and to the extent there is any inconsistency, the terms most
favorable to Executive shall govern.

          25. Survivability.

               Except as otherwise expressly provided in this Agreement, upon the termination of, or
expiration of the term of, this Agreement in accordance herewith, the respective rights and
obligations of the Parties shall survive such termination or expiration to the extent necessary to
carry out the intentions of the Parties as embodied in the rights and obligations of the Parties
under this Agreement.

          26. Captions and Paragraph Headings.

               Captions and paragraph headings used herein are for convenience and are not a part of this
Agreement and shall not be used in construing it.

          27. Counterparts.

               This Agreement may be executed in one or more counterparts, each of which shall be deemed
to be an original but all of which together shall constitute one and the same instrument.
Signatures delivered by facsimile shall be effective for all purposes.

[The remainder of this page is intentionally left blank.]

43

 

          IN WITNESS WHEREOF, the Parties have executed this Agreement on the day and year first set
forth above.

	 	 	 	 	 
	 	THE E. W. SCRIPPS COMPANY

 	 
	 	By:  	/s/ William R. Burleigh
 	 
	 	 	Name:  	WILLIAM R. BURLEIGH 	 
	 	 	Title:  	CHAIRMAN 	 
	 	 	Address: 312 Walnut Street

                  28th Floor

                  Cincinnati, Ohio 45202
 	 
	 

	 	 	 	 	 
	 	 	 
	 	                                               /s/ Kenneth W. Lowe
 	 
	 	Kenneth W. Lowe 	 
	 	Address: 312 Walnut Street

                  28th Floor

                  Cincinnati, Ohio 45202
 	 
	 	 	 

44

 

	 	 	 	 	 

EXHIBIT A TO EMPLOYMENT AGREEMENT, DATED AS OF JANUARY 1, 2003,

BETWEEN THE E.W. SCRIPPS COMPANY AND KENNETH W. LOWE

     As set forth in Paragraph 3(a) of the aforesaid Employment Agreement, the Company shall pay to
Executive an annual salary of not less than $875,000 from and after the date of this Exhibit until
such Agreement is terminated or until such salary is increased in accordance with and subject to
Paragraph 3(a) of such Agreement.

Dated as of January 1, 2003.

 

 

AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT

DATED JUNE 16, 2003

     This Amendment No. 1 is made to that certain Employment Agreement between The E. W. Scripps
Company, an Ohio corporation (together with its successors and assigns, the “Company”), and Kenneth
W. Lowe (“Executive”), which was entered into on June 16, 2003 (the “Employment Agreement”).

     WHEREAS, the Company and Executive are parties to that certain Restricted Share Award
Agreement dated June 16, 2003 (the “Restricted Share Award Agreement”), pursuant to which Executive
was awarded 310,638 (155,319 prior to stock split on August 31, 2004) restricted Class A Common
Shares of the Company (the “Restricted Shares”);

     WHEREAS, under the Amended and Restated 1997 Long-Term Incentive Plan of the Company (the
“Plan”), Executive may convert any or all of the unvested Restricted Shares to restricted share
units (the “Restricted Share Units”);

     WHEREAS, conversion of restricted shares to restricted share units will defer, until
retirement of the electing participant, his or her compensation attributable to such restricted
share units, and as a result the Company may obtain a tax deduction that otherwise might not be
available under certain legal limitations;

     WHEREAS, Executive desires to convert 40,000 of the Restricted Shares to Restricted Share
Units (the “Conversion”);

     WHEREAS, the compensation committee of the Company has approved the Conversion in accordance
with the Plan;

     WHEREAS, concurrently herewith the Restricted Share Award Agreement is being amended to
reflect the Conversion;

     WHEREAS, the Company and Executive desire to amend the Employment Agreement to reflect the
issuance of Restricted Share Units pursuant to the Conversion and to clarify the effect that the
Conversion will have on certain terms and provisions of the Employment Agreement relating to the
Restricted Shares;

     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the parties agree that from and after the date hereof:

     1. The term “New Restricted Shares” shall mean the 270,638 New Restricted Shares that
remain subject to the Employment Agreement after the Conversion (the “Remaining Restricted
Shares”), 77,660 of which became vested on January 2, 2004, 77,660 of which will
vest on January 2, 2005, 77,660 of which will vest on January 2, 2006, and 37,658 of which will
vest on January 2, 2007.

 

 

     2. The 40,000 New Restricted Shares converted into 40,000 Restricted Share Units as described
in the premises above will no longer be considered New Restricted Shares and shall be referred to
as “Restricted Share Units.”

     3. All matters concerning the Remaining New Restricted Shares shall be governed by the Plan,
except as otherwise set forth in the Employment Agreement or in the Restricted Share Award
Agreement, as amended by Amendment No. 1 thereto dated the date hereof.

     4. All matters concerning the Restricted Share Units shall be governed by the Plan, except as
otherwise set forth herein or in the Restricted Share Unit Agreement dated the date hereof between
the Company and Executive.

     5. For purposes of Paragraphs 6(d), 8(c), and 10, the words “and Restricted Share Units”
shall be deemed added after the words “New Restricted Shares” each time such latter words appear
in the Employment Agreement and such provisions of the Employment Agreement shall apply from and
after the date hereof to the Remaining New Restricted Shares and the Restricted Share Units.

     6. Paragraph 7(b)(ii) shall be deleted in its entirety and the following shall be
substituted in its place:

          “(ii) immediate vesting and non-forfeitability of all unmatured Deferred Stock Units,
Earned Duff & Phelps Shares, unvested New Restricted Shares, and unvested Restricted Share Units,
with the Company immediately exchanging the Deferred Stock Units for Class A Common Shares (the
“DSU Shares”), paying any dividends due on the DSU Shares in accordance with Paragraph 5 above,
and exchanging the Restricted Share Units for Class A Common Shares as soon as practicable after
the January 1 following Executive’s death or Permanent Disability;”

     7. Paragraph 9(a)(iv) shall be deleted in its entirety and the following substituted in its
place:

          “(iv) immediate vesting of all unmatured Deferred Stock Units, Earned Duff & Phelps
Shares, unvested New Restricted Shares, and unvested Restricted Share Units, with the Company
immediately exchanging the Deferred Stock Units for the DSU Shares and paying any dividends due on
the DSU Shares in accordance with Paragraph 5 above, and with the Company exchanging the
Restricted Share Units for Class A Common Shares as soon as practicable after the January 1
immediately following termination of Executive’s employment pursuant to this Paragraph 9(a);”

     8. Paragraph 9(a)(v) shall be deleted in its entirety and the following substituted in its
place:

          “(v) immediate vesting and non-forfeitability of all other outstanding equity
awards (including, but not limited to, stock options, restricted shares other than the New
Restricted Shares, and restricted share units other than the Restricted Share Units), with all
vested options (including options vesting pursuant to this subclause (v)) remaining exercisable for
the remainder of their original terms;”

2

 

     9. Paragraph 9(b) shall be deleted in its entirety and the following substituted in its
place:

          “(b) If Executive’s employment is terminated by the Company for Cause or by Executive
for any reason (other than for Good Reason or upon death, Normal Retirement or Early Retirement,
or due to Permanent Disability), Executive shall be entitled to no further compensation or other
severance payments or employee benefits under this Agreement, shall forfeit all earned and
unvested Duff & Phelps Shares, all unvested New Restricted Shares, and all unvested Restricted
Share Units, and all other outstanding equity awards (including, but not limited to, stock
options (whether or not vested), deferred stock units, restricted shares and restricted share
units) shall be treated in accordance with the applicable plan or award agreement; provided,
however, that Executive shall be entitled to:

     (i) issuance of 19, 207 DSU Shares and payment of dividends with
respect thereto on January 15, 2004, in exchange for the remaining Deferred Stock
Units;

     (ii) any earned but unpaid amounts as of the date of termination,
including, but not limited to, Base Salary through the date of termination,
reimbursement of business expenses and any incentive awards earned for
performance periods that have ended;

     (iii) any other right, benefit or entitlement earned and payable, and
not subject to forfeiture as a result of the applicable termination event, under
this Agreement or any other Company plan, policy, program, arrangement of, or
other agreement with, the Company or any affiliate;

     (iv) as provided in Paragraph 6(d) hereof, in the case of termination of
Executive’s employment by the Company for Cause under Paragraph 8(a)(ii)(B) or (C)
hereof, all Earned Duff & Phelps Shares, all New Restricted Shares and all
Restricted Share Units not vested on the date of any such termination shall vest
immediately upon such termination and thereafter be non-forfeitable; and

     (v) the pension benefits as provided pursuant to Paragraph 4(a) of this
Agreement.

          Notwithstanding anything to the contrary in this Paragraph 9(b), in the event of Executive’s
Early Retirement prior to January 1, 2007, all unvested Earned Duff & Phelps Shares, all unvested
New Restricted Shares, and all unvested Restricted Share Units (to the extent such shares or
units are unvested on the date of such retirement) shall be forfeited as provided in Paragraph
6(d) above.”

     10. Paragraph 9(d)(i) shall be deleted in its entirety and the following substituted in its
place:

     ”(i) immediate vesting and non-forfeitability of all outstanding equity
awards (including, but not limited to, stock options, restricted shares and

3

 

restricted share units), with all vested options (including options vesting pursuant to
this subclause (i)) remaining exercisable for the remainder of their original terms;
provided, however, in the case of Early Retirement prior to January 1, 2007, Executive
shall forfeit all unvested Earned Duff & Phelps Shares, all unvested New Restricted Shares
and all unvested Restricted Share Units (to the extent such shares or units are unvested on
the date of such retirement), and all other outstanding equity awards (including, but not
limited to, stock options, restricted shares and restricted share units) shall be treated
in accordance with the applicable plan or award agreement;”

     This Amendment No. 1 is executed on September 30, 2004.

	 	 	 	 	 
	 	THE COMPANY:

THE E. W. SCRIPPS COMPANY

 	 
	 	By:  	/s/ Joseph G. NeCastro
 	 
	 	 	Name:  	Joseph G. NeCastro 	 
	 	 	Title:  	SVP & CFO 	 
	 
	 	EXECUTIVE:

 	 
	 	/s/ Kenneth W. Lowe
 	 
	 	Kenneth W. Lowe 	 
	 	 	 
	 

4

 

AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT

DATED JUNE 16, 2003

     This Amendment No. 2 is made to that certain Employment Agreement between The E. W. Scripps
Company, an Ohio corporation (together with its successors and assigns, the “Company”), and Kenneth
W. Lowe (“Executive”), which was entered into on June 16, 2003 and was amended by Amendment No. 1
dated September 30, 2004 (the “Employment Agreement”).

     WHEREAS, the Company and Executive desire to amend the Employment Agreement to extend the
stipulated term thereof two (2) years;

     WHEREAS, the Board of Directors of the Company granted to Executive on February 23, 2006,
50,000 restricted Class A Common Shares of the Company (the “Restricted Shares”) and an option for
125,000 Class A Common Shares of the Company (the “Option”);

     WHEREAS, the Restricted Shares are evidenced by that certain Restricted Share Award Agreement
dated February 23, 2006 (the “Restricted Share Award Agreement”), and the Option is evidenced by
that certain Option Agreement dated February 23, 2006 (the “Option Agreement”);

     WHEREAS, the Company and Executive desire to amend the Employment Agreement to clarify that
Section 6 of the Restricted Share Award Agreement and Section 5 of the Option Agreement supersede
any provision in the Employment Agreement that might be interpreted to the contrary;

     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the parties agree that from and after the date hereof:

     The date “December 31, 2006” appearing in paragraph 2(a) shall be deleted in its
entirety and the date “December 31, 2008” shall be substituted in its place.

     No provision of the Employment Agreement shall override Section 6 of the Restricted Share
Award Agreement or Section 5 of the Option Agreement, and accordingly any provision in the
Employment Agreement relating to grants of restricted shares or options that otherwise would
provide for an acceleration of vesting of the Restricted Shares or the Option upon Early Retirement
of Executive will be deemed not to include the Restricted Shares or the Option.

This Amendment No. 2 is executed on May 10, 2006.

	 	 	 	 	 
	 	THE COMPANY:

THE E. W. SCRIPPS COMPANY

 	 
	 	By:  	/s/
Jennifer L. Weber
 	 
	 	 	Name:  	JENNIFER L. WEBER 	 
	 	 	Title:  	SVP HR 	 
	 
	 	EXECUTIVE:

 	 
	 	 	/s/ Kenneth W. Lowe
 	 
	 	 	KENNETH W. LOWE 	 
	 	 	 	 
	 

 

 

	 	 	 	 	 	 	 	 	 
	 
	 

	 	To:
	 	Jennifer Weber, Joe NeCastro
	 	Date:
	 	July 31, 2007
	 	 	 	Julie Elliott, A. B. Cruz	 	 	 	 
	 	From:
	 	Denise Kuprionis
	 	Re:
	 	Ken Lowe — contract amendment
	 
	 	 	 	 	 	 	 	 
	 

For your file, the following resolution, extending Ken’s employment contract for an
additional 18 months, was approved by the Scripps’ board of directors on July 31, 2007 (and
the compensation committee on July 30).

Julie, the originally executed amendment (signed by Ken and David Galloway) is attached to
your copy of this memo.

     Ken Lowe — contract amendment

WHEREAS, Mr. Kenneth W. Lowe entered into an employment agreement with the Company on June
16, 2003 and said agreement was amended by Amendment No. 1 dated September 30, 2004 and by
Amendment 2 dated May 10, 2006;

AND WHEREAS, the compensation committee has approved Amendment No. 3 (the “Amendment”) to
Mr. Kenneth W. Lowe’s employment agreement with the Company, a copy of which is attached as
an exhibit to these minutes;

NOW THEREFORE BE IT RESOLVED, that the board of directors hereby approves said Amendment;

FURTHER RESOLVED, that the officers of the Company are hereby authorized to execute and
deliver for and on behalf of this Committee and the Company any and all documents required
to effectuate the purposes and terms of the preceding resolutions.

Page 1 of 1

 

 

AMENDMENT NO. 3 TO EMPLOYMENT AGREEMENT

DATED JUNE 16, 2003

     This Amendment No. 3 is made to that certain Employment Agreement between
The E. W. Scripps Company, an Ohio corporation (together with its successors and assigns, the
“Company”), and Kenneth W. Lowe (“Executive”), which was entered into on June 16, 2003 and
was amended by Amendment No. 1 dated September 30, 2004 and was amended by Amendment No. 2
dated May 10, 2006 (the “Employment Agreement”).

     WHEREAS, the Company and Executive desire to amend the Employment Agreement to extend the
stipulated term thereof one (1) year arid six (6) months, until June 30, 2010;

     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the parties agree that from and after the date hereof:

     The date “December 31, 2008” appearing in paragraph 2(a) shall be deleted in its entirety
and the date “June 30, 2010” shall be substituted in its place.

This Amendment No. 3 is executed on July 31, 2007.

	 	 	 	 	 
	 	THE COMPANY:

THE E. W. SCRIPPS COMPANY

 	 
	 	By:  	/s/ David A. Galloway
 	 
	 	 	Name:  	DAVID A. GALLOWAY 	 
	 	 	Title:  	Chair – Compensation Committee 	 
	 
	 	EXECUTIVE:

 	 
	 	 	/s/ Kenneth W. Lowe
 	 
	 	 	Kenneth W. LoweEX-10.14

Exhibit 10.14

ASSIGNMENT AND ASSUMPTION AGREEMENT AND CONSENT

     This Assignment and Assumption Agreement and Consent (this “Agreement”) is made as of June ___,
2008, by and among The E. W. Scripps Company, an Ohio corporation (“Assignor”), Scripps Networks
Interactive, Inc., an Ohio corporation (“Assignee”), and Joseph G. NeCastro (“Executive”).

Preliminary Statements:

     A. Assignor and Executive are parties to that certain Amended and Restated Employment
Agreement, dated as of July 30, 2007 (the “Employment Agreement”), attached as Exhibit A hereto.

     B. Assignor and Assignee are parties to that certain Separation and Distribution Agreement,
dated as of June ___, 2008 (the “Separation Agreement”). Capitalized terms used herein but not
otherwise defined herein shall have the meanings ascribed to them in the Separation Agreement.

     C. In connection with the Separation, Executive will become an employee of Assignee.

     D. Assignor wishes to grant, sell, assign, transfer and deliver to Assignee on the
Distribution Date, and Assignee wishes to assume on the Distribution Date, the Employment
Agreement, subject to the terms and conditions of this Agreement.

     E. Executive wishes to consent to the assignment of the Employment Agreement from Assignor to
Assignee.

     NOW THEREFORE, intending to be legally bound, the parties hereto do hereby covenant and agree
as follows:

     1. Assignment. Effective as of, but subject to the occurrence of, the Distribution
Date, Assignor hereby grants, sells, assigns, transfers and delivers to Assignee all of the right,
title and interest of Assignor in and to the Employment Agreement; provided, however, that, except
as otherwise provided in the Separation Agreement, Assignor retains and does not grant, sell,
assign, transfer or deliver any rights accruing to Assignor prior to the Distribution Date that are
intended to accrue to the benefit of the EWS Business, including, without limitation, rights under
Sections 9(d) and 9(e).

     2. Assumption. Effective as of, but subject to the occurrence of, the Distribution
Date, Assignee hereby assumes and agrees to pay, discharge or perform, as appropriate, all
liabilities and obligations of Assignor first arising or accruing under the Employment Agreement on
or after the Distribution Date (the “Assumed Liabilities”).

     3. Excluded Liabilities. Notwithstanding anything contained herein to the contrary,
Assignee is not assuming and shall not assume, or become responsible for, at any time, any

 

 

liabilities or obligations of Assignor arising or accruing under the Employment Agreement
other than the Assumed Liabilities.

     4. Agreements of Executive. Executive hereby consents to the assignment of the
Employment Agreement from Assignor to Assignee effective as of, but subject to the occurrence of,
the Distribution Date and agrees that such assignment shall not constitute a termination of
employment or Good Reason for Executive to terminate his employment. Executive and Assignee agree
that upon effectiveness of the assignment contemplated by this Agreement, all references to the
“Company” in the Employment Agreement shall mean Assignee and all references to employee benefit
plans of Assignor in the Employment Agreement shall mean the comparable plans of Assignee. Except
as otherwise provided in the Separation Agreement, Executive agrees that his obligations to
Assignor under Section 9(b) with respect to Confidential Information (as defined in the Employment
Agreement) of Assignor related to the EWS Business, Section 9(d) with respect to works-for-hire
created as an employee of Assignor for the benefit of the EWS Business prior to the Distribution
Date and Section 9(e) with respect to the EWS Business shall continue in effect in accordance with
their terms for the benefit of Assignor.

     5. Further Action. The parties will from time to time after the date hereof, without
further consideration, execute, acknowledge and deliver such further acts, assignments, transfers,
conveyances, assumptions and assurances as may be reasonably required to carry out the intent of
this Agreement and to assign, transfer, convey and deliver unto Assignee, and for Assignee to
accept and assume, the Employment Agreement.

     6. Governing Law. This Agreement will be governed by, and construed in accordance
with, the laws of the State of Ohio, without reference to principles of conflict of laws.

     7. Counterparts. This Agreement may be executed in counterparts, which together shall
constitute one and the same agreement. The parties may execute more than one copy of this
Agreement, each of which shall constitute an original.

[Signature Page Follows]

2

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first
written above.

	 	 	 	 	 
	 	THE E. W. SCRIPPS COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	SCRIPPS NETWORKS INTERACTIVE, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 
	 	 Joseph G. NeCastro

 	 
	 	 	 
	 	 	 
	 	 	 
	 

3

 

June 16, 2006 AMENDED & RESTATED 7/30/07

Mr. Joseph G. NeCastro

c/o The E. W. Scripps Company

312 Walnut Street

2800 Scripps Center

Cincinnati, OH 45202

Re: Employment Agreement

Dear Joe:

The E. W. Scripps Company (the “Company”) agrees to employ you and you agree to accept such
employment upon the following terms and conditions:

l. Term. Subject to the provisions for earlier termination provided in paragraph 10
below, the term of your employment hereunder shall become effective as of

June 16, 2006 and shall continue through and until June 15, 2009. Such period shall be
referred to as the “Term,” notwithstanding any earlier termination of your employment for any
reason. The Company shall provide you with at least ninety (90) days’ notice prior to the
expiration of the Term if the Company does not intend to continue to employ you beyond the
expiration of the Term. If the Company does not provide you with such notice and the parties
do not otherwise agree in writing to renew, extend, or replace this agreement, the Term shall
automatically renew for one one-year term.

2. Duties. You will be the Execuitve Vice President and Chief Financial Officer of
the Company, reporting to the Chief Executive Officer of the Company (“Reporting Senior”).
You agree to devote substantially all your business time, and apply your best reasonable
efforts, to promote the business and affairs of the Company and its affiliated companies
during your employment. You will perform such duties and responsibilities commensurate with
your position and title during the Term, and as may be reasonably assigned to you from time
to time by your Reporting Senior. You shall not, without the prior written consent of the
Company, directly or indirectly, during the Term, other than in the performance of duties
naturally inherent to the businesses of the Company and in furtherance thereof, render
services of a business, professional, or commercial nature to any other person or firm,
whether for compensation or otherwise; provided, however, that so long as it does not
interfere with the performance of your duties hereunder, you may serve

 

 

Mr. Joseph G. NeCastro

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as a director, trustee or officer of, or otherwise participate in, educational, welfare,
social, religious, civic or trade organizations. Your principal place of business shall be
in Cincinnati, OH.

3. Compensation.

(a) Annual Salary. For all the services rendered by you in any capacity under this
Agreement, the Company agrees to pay you Five Hundred Fifty Thousand Dollars ($550,000.00) a
year in base salary (“Annual Salary”), less applicable deductions and withholding taxes, in
accordance with the Company’s payroll practices as they may exist from time to time during
the Term. Your Annual Salary may be increased by the Company’s Compensation Committee in
conjunction with your annual performance review conducted pursuant to the guidelines and
procedures of the Company applicable to similarly situated executives, but in no event shall
your Annual Salary be less than the annual salary amount established under this paragraph
3(a) for the immediately previous calendar year.

(b) Bonus. You shall participate in the Company’s executive bonus plan with a target
bonus opportunity of 60% of your Annual Salary as established under paragraph 3(a) (“Bonus”).
The Bonus amount actually paid shall be based on your attainment, within the range of the
minimum and maximum performance objectives, of strategic and financial goals established for
you by the Company and approved by the Company’s Compensation Committee. The Company shall
pay to you any Bonus under this paragraph 3(b) by no later than March 15 of the following
calendar year.

(c) Long-Term Incentive Plans. During your employment hereunder, you shall be
eligible to participate in all equity incentive plans of the Company, including but not
limited to, the Company’s 1997 Long-Term Incentive Plan, as amended, or any successor to such
plan, applicable to similarly situated executives of the Company as shall be determined by
the Company’s Compensation Committee.

4. Benefits. During your employment hereunder, you shall be entitled to participate
in any employee retirement, pension and welfare benefit plan or program available to
similarly situated executives of the Company, or to the Company’s employees generally, as
such plans and programs may be in effect from time to time, including, without limitation,
pension, profit sharing, savings, estate preservation and other retirement plans or programs,
401(k), medical, dental, life insurance, short-term and long-term disability insurance plans,
and all other plans that the Company may have or establish from time to time and in which you
would be entitled to participate under the terms of the applicable plan. This provision is
not intended, nor shall it have the effect of, reducing any benefit to which you were
entitled as of the effective date of this Agreement. However, this provision shall not be
construed to require the Company to establish any welfare, compensation or

 

 

Mr. Joseph G. NeCastro

June 16, 2006 AMENDED & RESTATED 7/30/07

Page 3

long-term incentive plans, or to prevent the modification or termination of any plan once
established, and no action or inaction with respect to any plan shall affect this Agreement.
You shall be entitled to be reimbursed by the Company for tax and financial planning up to a
maximum of $15,000 per year, and for the annual membership fees and other dues associated
with one luncheon club. In addition, the Company shall pay the costs of an annual “senior
executive” physical examination. You shall be entitled to no less than five (5) weeks of PTO
per calendar year.

5. Business Expenses. During your employment hereunder, the Company shall reimburse
you for reasonable travel and other expenses incurred in the performance of your duties as
are customarily reimbursed to similarly situated executives of the Company.

6. Entitlements in Event of Death. In the event of your death during your employment
hereunder, your beneficiary or estate shall, for the one-year period following your death,
receive payments equal to your Annual Salary. Also, your family members who are covered
under a Company medical plan at the time of your death shall be entitled to receive
commensurate medical coverage at the Company’s expense throughout this same one-year period.
In addition, your beneficiary or estate shall receive (i) any Bonus earned in the prior
calendar year, but that has not yet been paid; and (ii) the amount equal to the target bonus
opportunity described in paragraph 3(b) above, pro-rated to cover the time period commencing
on January 1 of the calendar year of your death and ending one (1) year after your death;
which such bonus shall be in lieu of any bonus that you would have otherwise been entitled to
receive under the terms of the Executive Bonus Plan for that year. The payments reflected in
6(i) and (ii) above shall be payable, less applicable deductions and withholding taxes, by
March 15th of the year immediately following the relevant calendar year. In addition, your
beneficiary or estate shall be entitled to any vested benefits accrued and earned by you
hereunder, in each case up to and including the date of your death. Also, in the event of
your death during employment, any remaining principal and interest you owe to the Company
under that certain loan agreement entered into by you and the Company on or about May 2, 2002
shall be foregiven and such loan agreement terminated, it being understood, however, that the
foregoing shall apply only if such loan agreement is not amended or revised in any material
respect after the effective date hereof. In the event of your death after the termination of
your employment while you are entitled to receive compensation under paragraph 10(d), your
beneficiary or estate shall receive any Annual Salary payable under paragraph 10(d)(i) up to
the date on which the death occurs.

7. Entitlements in Event of Permanent Disability. In the event of your permanent
disability during your employment hereunder (as defined under and covered by a Company
employee disability plan), your employment shall immediately terminate. However, for the
one-year period beginning on the date of

 

 

Mr. Joseph G. NeCastro

June 16, 2006 AMENDED & RESTATED 7/30/07

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such disability, you shall continue to receive payments equal to your Annual Salary. Also,
your family members who are covered under a Company medical plan at the time of your
permanent disability shall be entitled to receive commensurate medical coverage at the
Company’s expense for that same one-year period. In addition, you shall receive (i) any
Bonus earned in the prior calendar year, but that has not yet been paid; and (ii) the amount
equal to the target bonus opportunity described in paragraph 3(b) above, pro-rated to cover
the time period commencing on January 1 of the calendar year in which your permanent
disability occurs and ending one (1) year after you become permanently disabled; which such
bonus shall be in lieu of any bonus that you would have otherwise been entitled to receive
under the terms of the Executive Bonus Plan for that year. The payments reflected in 7(i)
and (ii) above shall be payable, less applicable deductions and withholding taxes, by March
15th of the year immediately following the relevant calendar year. In addition, you shall be
entitled to any vested benefits accrued and earned by you hereunder, in each case up to and
including the date of your permanent disability, and any amount payable to you pursuant to
the applicable disability plan. Also, in the event of your permanent disability, any
remaining principal and interest you owe to the Company under that certain loan agreement
entered into by you and the Company on or about May 2, 2002 shall be foregiven and such loan
agreement terminated, it being understood, however, that the foregoing shall apply only if
such loan agreement is not amended or revised in any material respect after the effective
date hereof.

8. Change in Control Protections. You shall be included in and covered by the
Company’s Senior Executive Change in Control Plan, which is incorporated herein by reference.
Your Termination Pay Multiple, as defined in the Plan, will be at least “2.5”. In the event
that such plan is terminated or you are excluded from the plan for any reason during the
Term, the Company agrees to promptly amend this Agreement so that you are similarly covered
and eligible for the same benefits and protection thereunder.

9. Non-Competition, Confidential Information, Etc.

(a) Non-Competition. You agree that your employment with the Company is on an
exclusive basis and that, while you are employed by the Company, you will not engage in any
other business activity that would otherwise conflict with your duties and obligations
(including your commitment of substantially all business time) under this Agreement. You
agree that, during the Non-Compete Period (as defined below), you shall not directly or
indirectly engage in or participate as an owner, partner, stockholder, officer, employee,
director, agent of or consultant for any business competitive with any business of the
Company, without the prior written consent of the Company; provided, however,
that this provision shall not prevent you from investing as a less-than-one-percent (1%)
stockholder in the securities of any company listed on a national securities exchange or
quoted on an automated quotation system. The Non-Compete Period shall cover the entire Term;
provided,

 

 

Mr. Joseph G. NeCastro

June 16, 2006 AMENDED & RESTATED 7/30/07

Page 5

however, that, if your employment terminates before the end of the Term, the
Non-Compete Period shall terminate, if earlier, (i) six (6) months after you terminate your
employment for Good Reason or the Company terminates your employment without Cause, or on
such earlier date as you may make the election under paragraph 9(i) (which relates to your
ability to terminate your obligations under this paragraph 9(a) in exchange for waiving your
right to certain compensation and benefits); or (ii) twelve (12) months after the Company
terminates your employment for Cause. (Defined terms used without definitions in the
preceding sentence have the meanings provided in paragraphs 10(a) and (b).)

(b) Confidential Information. You agree that, during the Term or at any time
thereafter, (i) you shall not use for any purpose other than the duly authorized business of
the Company, or disclose to any third party, any information relating to the Company or any
of its affiliated companies which is proprietary to the Company or any of its affiliated
companies (“Confidential Information”), including any trade secret or any written (including
in any electronic form) or oral communication incorporating Confidential Information in any
way (except as may be required by law or in the performance of your duties under this
Agreement consistent with the Company’s policies); and (ii) you will comply with any and all
confidentiality obligations of the Company to a third party, whether arising under a written
agreement or otherwise. Information shall not be deemed Confidential Information which (x)
is or becomes generally available to the public other than as a result of a disclosure by you
or at your direction or by any other person who directly or indirectly receives such
information from you, or (y) is or becomes available to you on a non-confidential basis from
a source which is entitled to disclose it to you.

(c) No Solicitation or Interference. You agree that, during the Term and for

one (1) year thereafter, you shall not, directly or indirectly:

	 	(i)	 	employ or solicit the employment of any person who is then or has
been within six (6) months prior thereto, an employee of the Company or any of its
affiliated companies; or
	 
	 	(ii)	 	interfere with, disturb or interrupt the relationships (whether or
not such relationships have been reduced to formal contracts) of the Company or
any of its affiliated companies with any customer, supplier or consultant.

(d) Ownership of Works. The results and proceeds of your services under this
Agreement, including, without limitation, any works of authorship resulting from your
services to the Company or any of its affiliates during your employment with the Company
and/or any of its affiliated companies and any works in progress resulting from such
services, shall be works-made-for-hire and the Company shall be deemed the sole owner
throughout the universe of any and all rights of every nature in such works, whether such
rights are now known or hereafter defined or

 

 

Mr. Joseph G. NeCastro

June 16, 2006 AMENDED & RESTATED 7/30/07

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discovered, with the right to use the works in perpetuity in any manner the Company
determines in its sole discretion without any further payment to you. If, for any reason,
any of such results and proceeds are not legally deemed a work-made-for-hire and/or there are
any rights in such results and proceeds which do not accrue to the Company under the
preceding sentence, then you hereby irrevocably assign and agree to assign any and all of
your right, title and interest thereto, including, without limitation, any and all
copyrights, patents, trade secrets, trademarks and/or other rights of every nature in the
work, whether now known or hereafter defined or discovered, and the Company shall have the
right to use the work in perpetuity throughout the universe in any manner the Company
determines in its sole discretion without any further payment to you. You shall, as may be
requested by the Company from time to time, do any and all things which the Company may deem
useful or desirable to establish or document the Company’s rights in any such results and
proceeds, including, without limitation, the execution of appropriate copyright, trademark
and/or patent applications, assignments or similar documents and, if you are unavailable or
unwilling to execute such documents, you hereby irrevocably designate your Reporting Senior
or his designee as your attorney-in-fact with the power to execute such documents on your
behalf. To the extent you have any rights in the results and proceeds of your services under
this Agreement that cannot be assigned as described above, you unconditionally and
irrevocably waive the enforcement of such rights. This paragraph 9(d) is subject to, and
does not limit, restrict, or constitute a waiver by the Company or any of its affiliated
companies of any ownership rights to which the Company or any of its affiliated companies may
be entitled by operation of law by virtue of being your employer.

(e) Litigation.

	 	(i)	 	You agree that, during the Term, for one (1) year thereafter and, if
longer, during the pendency of any litigation or other proceeding, and except as
may be required by law or legal process, (x) you shall not communicate with anyone
(other than your own attorneys and tax advisors), except to the extent necessary
in the performance of your duties under this Agreement, with respect to the facts
or subject matter of any pending or potential litigation, or regulatory or
administrative proceeding involving the Company or any of its affiliated
companies, other than any litigation or other proceeding in which you are a
party-in-opposition, without giving prior notice to the Company’s General Counsel;
and (y) in the event that any other party attempts to obtain information or
documents from you with respect to such matter, either through formal legal
process such as a subpoena or by informal means such as interviews, you shall
promptly notify the Company’s General Counsel before providing any information or
documents.

 

 

Mr. Joseph G. NeCastro

June 16, 2006 AMENDED & RESTATED 7/30/07

Page 7

	 	(ii)	 	You agree to cooperate with the Company and its attorneys, both
during and after the termination of your employment, in connection with any
litigation or other proceeding arising out of or relating to matters in which you
were involved prior to the termination of your employment. Your cooperation shall
include, without limitation, providing assistance to the Company’s counsel,
experts or consultants, and providing truthful testimony in pretrial and trial or
hearing proceedings. In the event that your cooperation is requested after the
termination of your employment, the Company will (x) seek to minimize
interruptions to your schedule to the extent consistent with its interests in the
matter; and (y) reimburse you for all reasonable and appropriate out-of-pocket
expenses actually incurred by you in connection with such cooperation upon
reasonable substantiation of such expenses.
	 
	 	(iii)	 	Except as required by law or legal process, you agree that you will
not testify in any lawsuit or other proceeding which directly or indirectly
involves the Company or any of its affiliated companies, or which may create the
impression that such testimony is endorsed or approved by the Company or any of
its affiliated companies. In all events, you shall give advance notice to the
Company’s General Counsel of such testimony promptly after you become aware that
you may be required to provide it. The Company expressly reserves its
attorney-client and other privileges except if expressly waived in writing.

(f) Return of Property. All documents, data, recordings, or other property, whether
tangible or intangible, including all information stored in electronic form, obtained or
prepared by or for you and utilized by you in the course of your employment with the Company
or any of its affiliated companies shall remain the exclusive property of the Company. In
the event of the termination of your employment for any reason, the Company reserves the
right, to the extent permitted by law and in addition to any other remedy either may have, to
deduct from any monies otherwise payable to you the following: (i) all amounts you may owe
to the Company or any of its affiliated companies at the time of or subsequent to the
termination of your employment with the Company; and (ii) the value of the Company property
which you retain in your possession after the termination of your employment with the
Company. In the event that the law of any state or other jurisdiction requires the consent
of an employee for such deductions, this Agreement shall serve as such consent.

(g) Non-Disparagement. During the Term hereof and for one (1) year following the
termination hereof for any reason, you shall not make, nor cause any one else to make or
cause on your behalf, any public disparaging or derogatory statements or comments regarding
the Company or its affiliated companies, or its officers or

 

 

Mr. Joseph G. NeCastro

June 16, 2006 AMENDED & RESTATED 7/30/07

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directors; likewise the Company will not make, nor cause any one else to make, any public
disparaging or derogatory statements or comments regarding you.

(h) Injunctive Relief. The Company has entered into this Agreement in order to
obtain the benefit of your unique skills, talent, and experience. You and the Company
acknowledge and agree that your violation of paragraphs 9(a) through (h) of this Agreement
may result in irreparable damage to the Company and/or its affiliated companies and,
accordingly, the Company may obtain injunctive and other equitable relief for any breach or
threatened breach of such paragraphs, in addition to any other remedies available to the
Company.

(i) Survival; Modification of Terms. The obligations set forth under paragraphs 9(a)
through (i) shall remain in full force and effect for the entire period provided therein
notwithstanding the termination of your employment under this Agreement for any reason or the
expiration of the Term; provided, however, that your obligations under
paragraph 9(a) (but not under any other provision of this Agreement) shall cease if you
terminate your employment for Good Reason or the Company terminates your employment without
Cause and you notify the Company in writing that you have elected to waive your right to
receive, or to continue to receive, termination payments and benefits under paragraphs
10(d)(i) through (iv). You and the Company agree that the restrictions and remedies
contained in paragraphs 9(a) through (h) are reasonable and that it is your intention and the
intention of the Company that such restrictions and remedies shall be enforceable to the
fullest extent permissible by law. If a court of competent jurisdiction shall find that any
such restriction or remedy is unenforceable but would be enforceable if some part were
deleted or the period or area of application reduced, then such restriction or remedy shall
apply with the modification necessary to make it enforceable.

10. Termination.

(a) Termination for Cause. The Company may, at its option, terminate your employment
under this Agreement for Cause and thereafter shall have no obligations under this Agreement,
including, without limitation, any obligation to pay Annual Salary or Bonus or provide
benefits. “Cause” shall mean exclusively: (i) embezzlement, fraud or other conduct that
would constitute a felony; (ii) willful unauthorized disclosure of Confidential Information;
(iii) your material breach of this Agreement; (iv) your gross misconduct or gross neglect in
the performance of your duties hereunder; (v) your willful failure to cooperate with a bona
fide internal investigation or investigation by regulatory or law enforcement authorities,
after being instructed by the Company to cooperate, or the willful destruction or failure to
preserve documents or other material reasonably known to be relevant to such an
investigation, or the willful inducement of others to fail to cooperate or to destroy or fail
to produce documents or other material; or (vi) your willful and material

 

 

Mr. Joseph G. NeCastro

June 16, 2006 AMENDED & RESTATED 7/30/07

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violation of the Company’s written conduct policies, including but not limited to the
Company’s Employment Handbook and Ethics Code. The Company will give you written notice prior
to terminating your employment pursuant to (iii), (iv), (v), or (vi), of this paragraph
10(a), setting forth the nature of any alleged failure, breach or refusal in reasonable
detail and the conduct required to cure. Except for a failure, breach or refusal which, by
its nature, cannot reasonably be expected to be cured, you shall have twenty (20) business
days from the giving of such notice within which to cure any failure, breach or refusal under
(iii), (iv), (v), or (vi) of this paragraph 10(a); provided, however, that,
if the Company reasonably expects irreparable injury from a delay of twenty (20) business
days, the Company may give you notice of such shorter period within which to cure as is
reasonable under the circumstances.

(b) Good Reason Termination. You may terminate your employment under this Agreement
for Good Reason at any time during the Term by written notice to the Company no more than
thirty (30) days after the occurrence of the event constituting Good Reason. Such notice
shall state an effective date no earlier than thirty (30) business days after the date it is
given. The Company shall have ten (10) business days from the giving of such notice within
which to cure and, in the event of such cure, your notice shall be of no further force or
effect. Good Reason shall mean without your consent (other than in connection with the
termination or suspension of your employment or duties for Cause or in connection with your
Permanent Disability) exclusively: (i) the assignment to you of duties or responsibilities
substantially inconsistent with your position(s) or duties; (ii) the withdrawal of material
portions of your duties described in paragraph 2; (iii) the relocation of your position
outside the Cincinnati, OH metropolitan area; (iv) the material breach by the Company of this
Agreement; or (v) the failure of any successor to all or substantially all of the Company’s
assets to assume the Company’s obligations under this Agreement; or (vi) a change in
reporting structure such that you report to someone other than the Chief Executive Officer of
the Company.

(c) Termination Without Cause. The Company may terminate your employment under this
Agreement without Cause or at any time during the Term by written notice to you.

(d) Termination Payments/Benefits. In the event that your employment terminates
under paragraph 10(b) or (c), you shall thereafter receive through the end of the Term, less
applicable deductions and withholding taxes:

	 	(i)	 	a lump sum payment equal to your Annual Salary, as in effect on the
date on which your employment terminates, paid in accordance with the Company’s
then effective payroll practices;

 

 

Mr. Joseph G. NeCastro

June 16, 2006 AMENDED & RESTATED 7/30/07

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	 	(ii)	 	payments equal to your target bonus opportunity, as in effect on the
date on which your employment terminates, paid in accordance with the Company’s
then effective bonus payment practices;
	 
	 	(iii)	 	medical and dental insurance coverage provided under COBRA at no
cost to you (except as hereafter described) pursuant to the plans then covering
the employees of the Company (until the end of the Term or, if earlier, the date
on which you become eligible for medical and dental coverage from a third party);
provided, that, during the period that the Company provides you with this
coverage, an amount equal to the applicable COBRA premiums (or such other amounts
as may be required by law) will be included in your income for tax purposes to the
extent required by law and the Company may withhold taxes from your compensation
for this purpose; and provided, further, that you may elect to
continue your medical and dental insurance coverage under COBRA at your own
expense for the balance, if any, of the period required by law; and
	 
	 	(iv)	 	life insurance coverage pursuant to the policy then covering the
employees of the Company in the amount then furnished to the Company employees at
no cost (the amount of such coverage will be reduced by the amount of life
insurance coverage furnished to you at no cost by a third party employer).

Notwithstanding the foregoing, in the event your employment is terminated pursuant to
paragraphs 10(b) or (c) with less than eighteen (18) months remaining in the Term, you will
be entitled to the benefits described in paragraphs 10(d)(i) — (iv) for a period of eighteen
(18) months following the effective date of termination. You understand and agree that
notice given by the Company in accordance with paragraph 1 that it does not intend to
continue to employ you beyond the expiration of the Term does not constitute termination
pursuant to paragraph 10(c).

(e) Termination of Benefits. Notwithstanding anything in this Agreement to the
contrary (except as otherwise provided in paragraph 10(d) with respect to medical and dental
benefits and life insurance), participation in all the Company benefit plans and programs
will terminate upon the termination of your employment except to the extent otherwise
expressly provided in such plans or programs and subject to any vested rights you may have
under the terms of such plans or programs.

(f) Resignation from Official Positions. If your employment with the Company
terminates for any reason, you shall be deemed to have resigned at that time from any and all
officer or director positions that you may have held with the Company or any of its
affiliated companies and all board seats or other positions in other entities you held on
behalf of the Company. If, for any reason, this paragraph 10(f) is

 

 

Mr. Joseph G. NeCastro

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deemed insufficient to effectuate such resignation, you agree to execute, upon the request of
the Company, any documents or instruments which the Company may deem necessary or desirable
to effectuate such resignation or resignations, and you hereby authorize the Secretary and
any Assistant Secretary of the Company to execute any such documents or instruments as your
attorney-in-fact.

11. Severance Contingent On Release, Waiver and Non-Compete Agreement. If, pursuant
to paragraph 1, the Company gives proper notice that it does not intend to employ you beyond
the expiration of the Term, and your employment hereunder ends as a result, if you execute
and do not later revoke or materially violate the Release, Waiver and Non-Compete Agreement
in a form materially similar to the document attached hereto as Exhibit A, you will be
entitled to the benefits described in paragraphs 10(d)(i) — (iv) for a period of twelve (12)
months following the end of your employment.

12. Company’s Policies. You agree that, during your employment hereunder, you will
comply with all of the Company’s written policies, including, but not limited to, the
Company’s Employee Handbook and Ethic Code.

13. Indemnification; D&O Liability Insurance. If you are made a party to, are
threatened to be made a party to, receive any legal process in, or receive any discovery
request or request for information in connection with, any action, suit or proceeding,
whether civil, criminal, administrative or investigative (a “Proceeding”), by reason of the
fact that you were an officer, director, employee, or agent of the Company or any of its
affiliated companies, or were serving at the request of or on behalf of the Company or any of
its affiliated companies, the Company shall indemnify and hold you harmless to the fullest
extent permitted or authorized by the Company’s Articles of Incorporation or Code of
Regulations or, if greater, by the laws of the State of Ohio, against all costs, expenses,
liabilities and losses you incur in connection therewith. Such indemnification shall
continue even if you have ceased to be an officer, director, employee or agent of the Company
or any of its affiliated companies, and shall inure to the benefit of your heirs, executors
and administrators. The Company shall reimburse you for all costs and expenses you incur in
connection with any Proceeding within 20 business days after receipt by the Company of a
written requests for such reimbursement and appropriate documentation associated with such
expenses. In addition, the Company agrees to maintain a director’s and officer’s liability
insurance policy or policies covering you at a level and on terms and conditions commensurate
to the coverage the Company provides other similarly situated executives of the Company.

14. Notices. All notices under this Agreement must be given in writing, by personal
delivery facsimile or by mail, if to you, to the address shown on this Agreement (or any
other address designated in writing by you), with a copy to any other person you designate in
writing, and, if to the Company, to the address shown

 

 

Mr. Joseph G. NeCastro

June 16, 2006 AMENDED & RESTATED 7/30/07

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on this Agreement (or any other address designated in writing by the Company), with a copy,
to the attention of the Company’s General Counsel. Any notice given by mail shall be deemed
to have been given three days following such mailing.

15. Assignment. This is an Agreement for the performance of personal services by you
and may not be assigned by you or the Company except that the Company may assign this
Agreement to any affiliated company of or any successor-in-interest to the Company.

16. Governing Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Ohio.

17. No Implied Contract. Nothing contained in this Agreement shall be construed to
impose any obligation on the Company or you to renew this Agreement or any portion thereof.
The parties intend to be bound only upon execution of a written agreement and no negotiation,
exchange of draft or partial performance shall be deemed to imply an agreement. Neither the
continuation of employment nor any other conduct shall be deemed to imply a continuing
agreement upon the expiration of the Term.

18. Entire Understanding. Except where specifically stated otherwise herein, this
Agreement contains the entire understanding of the parties hereto relating to the subject
matter contained in this Agreement, and can be changed only by a writing signed by both
parties.

19. Void Provisions. If any provision of this Agreement, as applied to either party
or to any circumstances, shall be found by a court of competent jurisdiction to be
unenforceable but would be enforceable if some part were deleted or the period or area of
application were reduced, then such provision shall apply with the modification necessary to
make it enforceable, and shall in no way affect any other provision of this Agreement or the
validity or enforceability of this Agreement.

20. Supersedes Prior Agreements. With respect to the period covered by the Term,
this Agreement supersedes and cancels all prior agreements relating to your employment by the
Company or any of its affiliated companies.

21. Deductions and Withholdings, Payment of Deferred Compensation. All amounts
payable under this Agreement shall be paid less deductions and income and payroll tax
withholdings as may be required under applicable law and any property (including shares of
the Company’s Class A Common Stock), benefits and perquisites provided to you under this
Agreement shall be taxable to you as may be required under applicable law. Notwithstanding
any other provisions of this Agreement to the contrary, no payment for any restricted shares
or distribution of any other deferred compensation shall be made sooner than the earliest
date

 

 

Mr. Joseph G. NeCastro

June 16, 2006 AMENDED & RESTATED 7/30/07

Page 13

permitted under the provisions of the Internal Revenue Code or the rules or regulations
promulgated thereunder, as in effect on the date of such payment, in order for such payment
to be taxable at the time of the distribution thereof without imposition of penalty taxes
under the American Jobs Creation Act of 2004.

If the foregoing correctly sets forth our understanding, please sign, date and return all
three (3) copies of this Agreement to the undersigned for execution on

behalf of the Company; after this Agreement has been executed by the Company and a
fully-executed copy returned to you, it shall constitute a binding agreement between us.

	 	 	 	 	 	 	 
	Sincerely yours,	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	THE E. W. SCRIPPS COMPANY	 	 
	 	 	 	 	 	 	 
	By:	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 
	Name:	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Title:	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	ACCEPTED AND AGREED:	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 
	Joseph G. NeCastro	 	 
	 	 	 	 	 	 	 
	Dated:

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