Document:

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                                                                   Exhibit 10.14

                              INDEMNITY AGREEMENT

THIS AGREEMENT made this 14 day of February, 1995, between Tuboscope Vetco
                         --
International Corporation, a Delaware corporation ("Company"), and _____________
________________________________ ("Indemnitee").

WHEREAS. the Company and Indemnitee desires that Indemnitee serve or continue to
serve as a director and/or officer of the company; and

WHEREAS, the Company desires and intends hereby to provide indemnification
(including advancement of expenses) against any and all liabilities asserted
against Indemnitee to the fullest extent permitted by the General Corporation
Law of the State of Delaware, as it presently exists and as it may from time to
time be expanded.

NOW THEREFORE,

WITNESSETH:

THAT for and in consideration of the premises and the covenants contained
herein, the Company and Indemnitee do hereby covenant and agree as follows:

     1.   Continued Service. Indemnitee will serve or continue to serve, at the
          ------------------
will of the Company or under separate contract, if such exists, as a director
                             --------
and/or officer so long as he is duly elected and qualified in accordance with
the Bylaws of the Company or until he tenders his resignation. If Indemnitee is
an employee of the Company, nothing herein shall change such employee's status
as an employee at will.

      2.  Definitions. For purposes of this Agreement, the following definitions
          ------------
apply herein:

          (a) The term "Proceeding* shall include any threatened, pending or
completed action, suit or proceeding, whether brought in the name of the Company
or otherwise and whether of civil, criminal, administrative or investigative
nature including, but not limited to, actions, suits, or proceedings brought
under or predicated upon the Securities Act of 1933, as amended, the Securities
Exchange Act of 1934, as amended, or their respective state counterparts or any
rule or regulation promulgated thereunder, in which Indemnitee may be or may
have been involved as a party or otherwise, by reason of any action taken by him
or any inaction on his part while acting as a director, officer, employee or
agent of the Company at any time, including prior to the date of this Agreement,
or by reason of the fact that he is or was serving at the request of the Company
as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise at any time, including prior to the
date of this Agreement, whether or not he is serving in such capacity at the
time any liability or expense is incurred for which indemnification or
reimbursement can be provided under this Agreement.
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          (b) The term "Expenses-includes, without limitation, expenses of
investigation, judicial or administrative proceedings or appeals, amounts paid
in settlement by or on behalf of or appeals, amounts paid in settlement by or on
behalf of Indemnitee, attorneys' fees and disbursements and any expenses of
establishing a right to indemnification under Section 4 of this Agreement. but
shall not include the amount of judgments, fines or penalties actually levied
against Indemnitee.

          (c) References to "other enterprises" shall include the Employee Stock
Ownership Plan and related trust, the Administrative Committee with respect to
such Plan mid trust, other employee benefit plans, and civil, non-profit or
charitable organizations, whether or not incorporated;

          (d) References to "fines" shall include, without limitation, any
excite taxes assessed on Indemnitee with respect to any employee benefit plan;

          (e) References to "serving at the request of the Company" shall
include any service at the request or with the express or implied authorization
of the Company, as a director, officer, employee or agent of the Company which
imposes duties on, or involves services by, Indemnitee with respect to a
corporation, partnership, joint venture, trust or other enterprise, its
participants or beneficiaries; and if Indemnitee acted in good faith and In a
manner he reasonably believed to be in the interest of the participants and
beneficiaries of such other enterprises, he shall be deemed to have acted in a
manner "not opposed to the best interest of the Company" as referred to in this
Agreement; and

          (f) References to a "change of control" shall include any change in
the ownership of a majority of the capital stock of the Company or in the
composition of a majority of the members of the board of directors of the
Company.

      3.  Indemnification. The Company shall indemnify Indemnitee as follows:
          ---------------

          (a) The Company shall indemnify Indemnitee when he is a party or is
threatened to be made a party to or otherwise involved in any Proceeding (other
than a Proceeding by or in the right of the Company to procure a judgment in its
favor) by reason of the fact that he is or was a director, officer, employee or
agent of the Company, or is or was serving at the request of the Company as a
director, officer, employee or agent of another corporation, partnership, joint
venture, Mist or other enterprise, against all Expenses, judgments, fines,
penalties and amounts paid in Settlements actually and reasonably incurred by
him or on his behalf In connection with such Proceeding if he acted in good
faith and in a manner he reasonably believed to be in or not opposed to the best
interests of the Company, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct was unlawful. The
termination of such Proceeding by judgment, order, settlement, conviction, or
upon a plea of nolo contendere or its equivalent, shall not, of Itself, create a
presumption that Indemnitee failed to act in good faith and in a manner which
he reasonably believed to be in or not opposed to the best interests of the
Company, and, with respect to any criminal Proceeding, had reasonable cause to
believe that his conduct was unlawful.

          (b) The Company shall indemnify Indemnitee when he is a party or is
threatened to be made a party to or otherwise Involved in any proceeding brought
by or in the right of the Company to procure a judgment in its favor by reason
of the fact that he is or was a director, officer, employee or agent of the
Company, or is or was serving at the request of the Company as a director,
officer, employee or agent of another corporation, partnership, joint venture,
trust or other enterprise against all Expenses, judgments, fines and penalties,
actually and reasonably incurred by him or on his behalf in connection with the
defense or settlement of such Proceeding if he acted in good faith and in a
manner which

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he reasonably believed to be in or not opposed to the best interests of
the Company, and except that no indemnification pursuant to this Agreement shall
be made in respect of any claim, issue or matter as to which Indemnitee shall
have been adjudged to be liable to the Company unless and only to the extent
that the Court of Chancery or the court in which such action or suit was brought
shall determine upon application that, despite the adjudication of liability but
in view of all the circumstances of die case, Indemnitee is fairly and
reasonably entitled to indemnification for such expenses which the Court of
Chancery or such other court shall deem proper.

          (c) Notwithstanding any other provisions of this Agreement, to the
extent that Indemnitee hits been successful on the merits or otherwise, in
defense of any Proceeding or in defense of any claim, issue or matter therein,
including the dismissal of an action with prejudice, Indemnitee shall be
indemnified against all Expenses incurred in connection therewith.

          (d) Any indemnification under paragraphs (a) and (b) of this Section 3
(unless ordered by a court) shall be made by the Company only as authorized in
the specific cast upon a determination (in accordance with Section 4 hereof)
that indemnification of Indemnitee is proper in the circumstances because, he
has met the applicable standard of conduct set forth in paragraphs (a) and (b)
of this Section 3. Such determination shall be made (i) by the board of
directors by a majority vote of a quorum consisting of directors who were not
parties to such Proceeding or (ii) if such quorum is not obtainable, or, even if
obtainable, a quorum of disinterested directors so directs, by independent legal
counsel in a written opinion, or (iii) by the stockholders.

          (a) Expenses incurred by Indemnitee In defending a Proceeding shall be
paid by the Company in advance of the final disposition of such Proceeding as
authorized (in accordance with Section 5 hereof) by the board of directors in
the specific case upon receipt of an undertaking by or on behalf of Indemnitee
to repay such amount unless it shall ultimately be determined that he is
entitled to be indemnified by the Company under this Agreement or otherwise.

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         (f) The right to indemnification and advancement of Expenses provided
by this Agreement shall not be deemed exclusive of any other rights to which
Indemnitee may be entitled under any statute, bylaw, insurance policy.
agreement, vote of stockholders or disinterested directors or otherwise, both as
to action in this official capacity and as to action in another capacity while
holding such office, and shall continue after Indemnitee has ceased to be a
director, officer, employee or agent and shall inure to the benefit of his
heirs, executors and administrators.

     4.  Determination of Right to Indemnification. For purposes of making the
         ------------------------------------------
determination in a specific case under paragraph (d) of Section 3 hereof whether
to make indemnification, the board of directors, independent legal counsel or
stockholders, as the case may be, shall make such determination in accordance
with the following procedure:

         (a) Indemnitee may submit to the board of directors a sworn statement
of request for indemnification substantially in the form of Exhibit A attached
hereto and made a part hereof ("Indemnification Statement") averring that he has
met the applicable standard of conduct set forth in paragraphs (a) and (b) of
Section 3 hereof, or that he is otherwise entitled to indemnification under
paragraph (c) of Section 3 hereof; and

         (b) Submission of the Indemnification Statement to the board of
directors requesting indemnification pursuant to paragraphs (a) or (b) of
Section 3 hereof shall create a rebuttable presumption that Indemnitee is
entitled to indemnification under this Agreement, and the board of directors,
independent legal counsel or stockholders, as the case may be, shall within
thirty (30) days after submission of the Indemnification Statement specifically
determine that Indemnitee is so entitled, unless it or they shall possess clear
and convincing evidence to rebut the presumption that Indemnitee has met the
applicable standard of conduct set forth in paragraph (a) or (b) of Section 3
hereof, which evidence shall be disclosed to Indemnitee with particularity in a
sworn written statement. signed by all persons who participated in the
determination and voted to deny indemnification.

         (c) Upon submission of the Indemnification Statement to the board of
directors requesting indemnification pursuant to paragraph (c) of Section 3
hereof, Indemnitee shall be entitled to receive indemnification under this
Agreement provided that all information contained in the Indemnification
Statement is accurate and correct.

     5.  Authorization of Advancement of Expenses. For purposes of determining
         -----------------------------------------
whether to authorize advancement of Expenses in a specific case pursuant to
paragraph (e) of Section 3 hereof, the board of directors shall make such
determination in accordance with the following procedure:

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         (a) Indemnitee may submit to the board of directors a sworn statement
Of request for advancement of Expenses substantially in the form of Exhibit B
attached hereto and made a part hereof ("Undertaking"), averring that (i) he has
reasonably incurred or will reasonably incur actual Expenses in defending a
civil or criminal Proceeding, and (ii) he undertakes to repay such amount unless
it shall ultimately be determined that he is entitled to be indemnified by the
Company under this Agreement or otherwise;

         (b) Upon receipt of the Undertaking, the board of directors shall
within fourteen (14) days authorize immediate payment of the Expenses stated in
the Undertaking.

     6.  Merger Consolidation or Change in Control. In the event that the
         -----------------------------------------
Company shall be a constituent corporation in a consolidation or merger, whether
the Company is the resulting or surviving corporation or is absorbed, or if
there is a change in control of the Company as defined in Section 2 hereof,
Indemnitee shall stand in the same position under this Agreement with respect to
the resulting, surviving or changed corporation as he would have with respect to
the Company if its separate existence had continued or if there had been no
change in the control of the Company.

     7.  Partial Indemnification. If Indemnitee is entitled under any provision
         ------------------------
of this Agreement to indemnification by the Company for some or a portion of the
Expenses, judgments, fines or penalties actually and reasonably incurred by him
in the investigation, defense, appeal or settlement of any Proceeding but not,
however, for the total amount thereof, the Company shall nevertheless indemnify
Indemnitee for the portion of such Expenses, judgments, fines or penalties to
which Indemnitee is entitled.

     8.  Attorneys' Fees. In the event that Indemnitee institutes any legal
         ----------------
action to enforce his rights under, or to recover damages for breach of this
Agreement. Indemnitee, if he prevails in whole or in part, shall be entitled to
recover from the Company all attorneys' fees and disbursements incurred by him.

     9.  Severability. If any provision of this Agreement or the application of
         -------------
any provision hereof to any person or circumstances is held invalid, the
remainder of this Agreement and the application of such provision to other
persons or circumstances shall not be affected.

     10.  Governing Law. This Agreement shall be governed by and construed in
          --------------
accordance with the laws of the State of Delaware without regard to Its conflict
of laws -rules.

     11.  Modifications Survival. This Agreement contains the entire agreement
          -----------------------
of the parties relating to the subject matter hereof. "is Agreement may be
modified only by an instrument in writing signed by both parties hereto. The
provisions of this Agreement shall survive the termination of Indemnitee's
service as a director and/or officer of the Company.

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     12. Deposit of Funds In Trust. In the event that the Company decides to
         --------------------------
voluntarily dissolve or to file a voluntary petition for relief under applicable
bankruptcy, moratorium or similar laws, then not later than ten (10) days prior
to such dissolution or filing, the Company shall deposit in trust for the
exclusive benefit of Indemnitee a cash amount equal to all amounts previously
authorized to be paid to Indemnitee hereunder, such amounts to be used to
discharge the Company's obligations to Indemnitee hereunder. Any amounts in
such trust not required for such purpose shall be returned to the Company. This
Section 12 shall not apply to dissolution of the Company in connection with a
transaction as to which Section 5 hereof applies.

     13.  Gender. Whenever the context requires, the gender of all words used
          -------
herein shall include the masculine, feminine and neuter.

     14.  Amendments to the Delaware General Corporation Law. This Indemnity
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Agreement is intended to provide indemnity to the Indemnitee to the fullest
extent allowed under Delaware law. Accordingly, to the extent permitted by law,
in the event that the General Corporation Law of Delaware permits greater
indemnity than the indemnity set forth herein, or if any amendment is made to
the General Corporation Law of Delaware expanding the indemnity permissible
under law, the indemnity obligations contained herein shall automatically be
expanded, without the necessity of action on the part of any party, to the
extent necessary to provide to the Indemnitee the fullest indemnity permissible
under law.

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement and set
their seals as of the date first above written.

                                    TUBOSCOPE VETCO INTERNATIONAL
                                    CORPORATION

Attest:                                By:
       -------------------------       ------------------------------

                                    Name:
(Corporate Seal)

                                    Title:

                                    INDEMNITEE

                                      /s/
                                    ------------------------------
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                                  EXHIBIT "A"

                       Form of Indemnification Statement

In connection with my recent request for indemnification pursuant to that
certain Indemnity Agreement dated, by and between Tuboscope Vetco International
Corporation a Delaware corporation, and myself, I hereby swear that I have met
the applicable standard of conduct set forth in Paragraphs (a), (b) and (c) of
Section 3 of such Indemnity Agreement.

                                       Signature:   ----------------------

                                       Printed Name:
                                                     ---------------------

SWORN to before me on this __ day of __________ ,199_.

                                       -------------------------------------
                                       Notary Public In and for the
                                       State of
                                               -----------------------------
                                       Name:
                                            --------------------------------
                                       My Commission Expires:
                                                             ---------------
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                                  EXHIBIT "B"

                     Form of Undertaking to Repay Expenses

In connection with my request for indemnification pursuant to that certain
Indemnity Agreement dated _____________, by and between Tuboscope Vetco
International Corporation, a Delaware corporation, and myself. I hereby swear
that (i) I have reasonably incurred or will reasonably incur actual Expenses in
defending a civil or criminal Proceeding, and (ii) I will repay such Expenses
unless it is ultimately determined that I am not entitled to be indemnified by
Tuboscope Vetco International Corporation under such Indemnity Agreement or
otherwise.

SWORN to before me on this __ day of __________, 199_.

                                    ------------------------------------
                                    Notary Public in and for the
                                    State of
                                             ---------------------------
                                    Name:
                                         -------------------------------
                                    My Commission Expires:
                                                           -------------Exhbit 10 (c )

                       KNIGHT RIDDER ANNUAL INCENTIVE PLAN

                As Amended and Restated Effective January 1, 2000

INTRODUCTION

This Amended and Restated Knight Ridder Annual Incentive Plan (the "Plan") is
intended to motivate and reward corporate executives and top management at
individual operating units who contribute significantly to Knight Ridder's
success. Specific Plan objectives include the following:

         o      Focus participants on achieving key annual objectives

         o      Link rewards to results relative to financial and  non-financial
                goals at the corporate and business unit levels

         o      Provide   participants   the  opportunity  to  earn  competitive
                compensation commensurate with performance

The Plan provides participants the opportunity to earn cash awards each year
based on the performance of the corporation and/or the business unit in which
they work. Awards are earned on a calendar year basis (the "Plan Year") and are
paid in cash following the end of the Plan Year.

This amendment and restatement is intended to make the Plan comply with Section
162(m) of the Internal Revenue Code of 1986, as amended (the "Code") with
respect to covered employees under such Code section. Accordingly, individuals
who may be covered employees under the Code will be designated as "Covered
Employees".

PLAN ADMINISTRATION

The Plan will be administered by the Compensation and Corporate Governance
Committee of the Knight Ridder Board of Directors (the "Committee"). The
Committee has the authority to interpret the provisions of the Plan and to make
any rules and regulations necessary to administer the Plan. The Committee's
decision is final in all matters of judgment pertaining to the Plan, and the
Committee may, without notice, amend, suspend or revoke the Plan.

ELIGIBILITY

Employees in the following categories are eligible to participate in the Plan as
determined by the Committee: corporate officers and certain director-level
corporate employees; newspaper publishers and other business unit operating
heads who report directly to top officers; top editors, general managers and all
division directors; and selected other positions that can have significant
impact on results.

<PAGE>

Operating unit heads should present proposed changes in eligible positions to
the appropriate Vice President Operations and then to the Knight Ridder senior
Human Resources officer.

PLAN OVERVIEW

         BONUS AMOUNTS PAYABLE FOR MEETING GOALS

Each plan participant will have a potential bonus award that is payable for
meeting goals. The size of this potential award varies by salary range. The
bonus potential for each salary range is stated as a percentage of the salary
earned during the year. Therefore, the dollar amount of an individual's
opportunity is computed by multiplying the applicable percentage by the salary.
The potential bonus payable for meeting goals for each salary range (other than
for Knight Ridder's Chief Executive Officer whose potential award shall be set
annually by the Committee and shall be 70% of salary for the 2000 Plan Year) is
as follows:

        Salary Range                               Potential Award
        ------------                               ---------------

        $250,000 and above                               50.0%

        $150,000 to $249,999                             45.0%

        $100,000 to $149,999                             40.0%

        $50,000 to $99,999                               32.5%

        Up to $49,999                                    25.0%

         TYPES OF PERFORMANCE MEASURES AND THEIR WEIGHTINGS

Each participant's bonus will be determined based on measures of how well the
corporation or the business unit in which the individual works performed
relative to two type of goals: Financial Performance and Non-financial
Performance.

The potential award for meeting goals will be divided between the two types of
measures in the following way: 65% of each participant's potential award for
meeting goals will be based on Financial Performance, and 35% will be based on
Non-financial Performance, as shown in the following table:

                                              Potential Award
                           -----------------------------------------------------
           SALARY               TOTAL           FINANCIAL        NON-FINANCIAL
           ------               -----           ---------        -------------
   $250,000 and above           50.0%             32.5%              17.5%
   $150,000 to $249,999         45.0%             29.25%             15.75%
   $100,000 to $149,999         40.0%             26.0%              14.0%
   $50,000 to $99,999           32.5%             21.125%            11.375%
   Up to $49,999                25.0%             16.25%              8.75%

<PAGE>

As a general rule, the measurement will be based on the organizational level at
which the individual is employed: corporate performance for those at the
corporate level and business unit performance for those in a newspaper or other
business unit. However, the Knight Ridder CEO may determine that the measures
for selected individuals (other than Covered Employees) will consist of a
specified mix of two or more bases, or that those in a business unit will have
awards based on corporate performance.

PERFORMANCE MEASUREMENT

         FINANCIAL PERFORMANCE MEASURE

Financial performance will be evaluated relative to budgeted goals set at the
beginning of the Plan Year, subject to approved adjustments during the year.
Unless otherwise determined by the Committee, the financial measure will be
Economic Value Added, or "EVA". Definitions include:

         EVA = Net operating profit after tax minus a capital charge

         Capital charge = Average capital employed during the Plan Year times
         the cost of that capital

         Average capital employed = Average assets on the balance sheet minus
         the average of any amounts owed that do not incur an interest charge
         (called non-interest-bearing liabilities, or NIBLs), with the average
         computed on a monthly basis

         Cost of capital = Percentage approved annually by the Committee; 12%
         for 2000

The financial performance measure and the goals for the year will be
communicated to participants by the early part of each year.

         NON-FINANCIAL PERFORMANCE MEASURES

At the beginning of each Plan Year, Knight Ridder and each of the business units
will establish Non-financial goals that represent major elements of their
strategies. Quantifiable measures are preferred, and measures that are redundant
with the financial goal should be avoided. There should be no more than eight
measures. The non-financial performance measures may include the following
items: (i) advertising share, (ii) customer relations, (iii) product and service
development, (iv) news and information content, (v) enhancing national and local
brand identity, and (vi) technology development. Such corporate measures and
goals will be approved by the Knight Ridder CEO, and business unit measures and
goals will be approved by the appropriate Knight Ridder Vice President.

<PAGE>

All participants at corporate and in each of the business units will have the
Non-financial component of their awards based on the measures selected for their
unit. However, the weightings of these measures may vary among participants to
reflect each individual's impact on the achievement of the goals. The weightings
assigned to all measures must total 100 points for each of the participants.

The achievement of a goal will result in target awards being paid for that goal.
Awards for performance on the Non-financial measures cannot exceed 100% of
target, but standards for partial achievement of goals (and therefore payouts
below 100%) as well as threshold standards for achieving any award should be
established.

The non-financial measures for Covered Employees shall be objective and
quantifiable and shall be established solely by the Committee within the time
period required by Code Section 162(m).

DETERMINING AND PAYING AWARDS

         OVERVIEW

Each participant's award will be determined by adding together the award earned
based on Financial Performance and the award earned based on Non-financial
Performance. An award may be paid for one type of measure even if no award was
earned for the other type of measure. The only constraint is that a corporate
performance threshold must be achieved for any award to be payable. Normally
this threshold requirement will be that corporate operating income, as reported
in the annual report, must equal at least 80% of prior year operating income,
although the Committee reserves the right to adjust the threshold. The Committee
shall have the discretion to decrease (but not increase) awards to Covered
Employees.

         DETERMINING FINANCIAL AWARDS

Target awards will be paid to all participants in a unit (either corporate or
one of the business units) if that unit's EVA equals budgeted EVA. If EVA is
above (or below) budget, then the aggregate of financial awards paid to
participants at that unit will equal the aggregate of their target financial
awards plus (or minus) a percentage of the amount by which actual EVA exceeds
(or falls below) budgeted EVA. This percentage is referred to as a "sharing
percentage". For Covered Employees, the sharing percentage must be established
within the time periods required under Code Section 162(m). The "standard"
percentages of EVA above and below budget that will be shared with participants
are expected to be 15% for the newspapers and 5% for corporate. However, these
sharing percentages are at the discretion of the Committee, which may change
them from year to year or have different percentages for different newspapers
within a given year.

The process of determining the aggregate financial award paid to participants in
a unit will start with the calculation of the sum of the target financial awards
for all approved participants in the unit as of the end of the Plan Year. This
aggregate target will equal the sum of all participants' target awards, with

<PAGE>

each participant's target equaling his or her salary for the year (or period of
participation, if less than a year) times 65% of the target award percentage for
the range in which the salary falls. The target awards are calculated before
taxes.

If EVA equals budget, then the "bonus pool" (i.e., total payments that will be
made for the financial component of the award for participants in that unit)
will equal the sum of all participants' financial target awards.

If EVA is above budget, steps to calculate the financial bonus pool will
include:

         o      Determine the amount by which EVA (including the target bonus
                accrual only) exceeds budget

         o      Multiply this amount by the approved sharing percentage. (For
                example, if the sharing percentage is 15%, multiply 15% times
                the amount by which EVA exceeds budget). This equals the
                after-tax amount that will be added to the target bonus pool.
                (It is after-tax because EVA is an after-tax number)

         o      Calculate the pre-tax amount that will be added to the target
                bonus pool as a result of EVA being above budget. (It is
                necessary to calculate the pre-tax amount before doing the
                addition, since the target bonus pool is pre-tax). To calculate
                the pre-tax amount, divide the after-tax amount by 1.00 minus
                the tax rate that was used in developing the EVA budget for the
                year. (For example, with a tax rate of 42%, the after-tax amount
                would be divided by 1.00 minus .42, or .58. If the after-tax
                amount were $100, then the pre-tax amount would be $100 divided
                by .58, or $172.4)

         o      Add the resulting pre-tax amount to the aggregate target award
                to determine the size of the financial bonus pool. This becomes
                the final bonus pool, subject to two conditions:

                -     To be eligible for awards above 200% on the financial
                      component, a company's net operating profit after tax
                      (NOPAT) must be at least 12% above the prior year's NOPAT,
                      and EVA must be positive and improved over the prior year.
                      If these conditions are not met, then the maximum pool
                      will equal 200% of target

                -     The pool is subject to a maximum equal to 300% of target;
                      if the calculated pool is above the maximum, then the pool
                      will equal 300% of target

If EVA is below budget, steps to calculate the financial bonus pool will
include:

<PAGE>

         o      Determine the amount by which EVA (including the target bonus
                accrual) is below budget

         o      Determine the after-tax amount that will be subtracted from the
                target bonus pool by multiplying the amount by which EVA is
                below budget times the approved sharing percentage

         o      Calculate the pre-tax amount that will be subtracted from the
                target bonus pool as a result of EVA being below budget, using
                the methodology described above (i.e., divide the after-tax
                amount by 1.00 minus the tax rate)

         o      Subtract the resulting pre-tax amount from the aggregate target
                award to determine the size of the financial bonus pool. The
                minimum pool size will be zero

Once the financial bonus pool is determined, every participant in a unit will
receive the same financial award as a percentage of his or her target.
Calculation steps will include:

         o      Calculate the aggregate financial bonus pool for the unit as a
                percentage of the aggregate target financial bonus pool

         o      Apply this percentage to the target financial award for each
                participant. For example, if the aggregate financial bonus pool
                were $1,200 and the aggregate target bonus pool were $1,000,
                then that unit's financial award would be 120% of target. Every
                participant in the unit would receive 120% of his or her target
                financial award

The Knight Ridder Controller will calculate the corporate awards. Each business
unit's chief financial officer will calculate the business unit's awards, using
EVA results that have been agreed upon with the Knight Ridder Controller. All
calculations will be based on the approved list of participants and their target
award opportunities. Prior to the payment of any awards to Covered Employees,
the Committee must certify in writing that the performance goals have in fact
been satisfied.

The attached exhibits illustrate the calculations of the financial bonus pool
for three situations:

         o      Exhibit 1: EVA is above budget, and pool is below 200% of target

         o      Exhibit 2: EVA is above budget, and pool is potentially above
                200% of target, making it necessary to apply the test of whether
                the pool can exceed 200%

         o      Exhibit 3: EVA is below budget

<PAGE>

         DETERMINING NON-FINANCIAL AWARDS

A performance score will be determined for each of the Non-financial measures at
corporate and each of the business units. A score will be 100% of the points
assigned if the goal was achieved, zero if threshold performance was not
achieved, and between 0 and 100% if performance was above threshold and the goal
was partially achieved.

An individual's Non-financial award will equal the sum of the scores on each of
the measures times the weighting given to that measure for that individual.
Awards can range from 100% of the Non-financial target if all goals were
achieved, down to zero if performance on all goals was below threshold.

OTHER PLAN FEATURES

         AWARD PAYMENT

Awards will be paid in cash following the end of the Plan Year and the
computation of results, unless deferral has been elected under the annual
incentive deferral plan. Required tax amounts will be withheld. Notwithstanding
anything to the contrary, the maximum award payable for a Plan Year to any
individual under the Code shall not exceed $2,500,000.

         PARTIAL YEAR PARTICIPANTS AND CHANGES IN POSITION

Individuals who are hired or promoted into positions that qualify for Plan
participation will be eligible for a pro rata award based on the amount of
salary earned while a participant and the performance levels achieved.

If a participant's responsibilities change during a year and a different part of
the company's performance is used in computing awards for the two positions,
then ordinarily the award will be determined on a pro rata basis relative to the
time spent in the two positions, although exceptions may be made on a case by
case basis.

         TERMINATION

In the event of death, permanent disability (as defined by Knight Ridder's
disability plan) or retirement prior to the date of payment, a participant (or
the participant's estate) will be entitled to receive a pro rata award based on
the time employed during the year. Pro-rated payments will be made following the
end of the Plan Year and computation of results. Required tax amounts will be
withheld.

In the event of resignation or termination for other reasons at any time during
the Plan Year, no award will be paid.

         EMPLOYMENT RIGHTS

The Plan does not constitute a contract of employment, nor does participation in
one Plan Year guarantee participation in another Plan Year.

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