Document:

NEWSPRINT PURCHASE CONTRACT

 Exhibit 10.30 
 NEWSPRINT PURCHASE CONTRACT 
 This Newsprint Purchase Contract (this “Agreement”) is
made as of September 5, 2007 (the “Execution Date”) and is effective as of September 1, 2007 (the “Effective Date”), by and between SP Newsprint Co., a Georgia general partnership (f/k/a Southeast Paper
Manufacturing Company) (“SP”), and Media General Operations, Inc., a Delaware corporation (“Media General”) (“Purchaser”). SP and Purchaser are referred to herein as the “Parties”
and each, individually, as a “Party”. 
 WHEREAS, SP entered into separate agreements, each dated April 20, 1977, with
Media General, Knight-Ridder, Inc. (“Knight-Ridder”), a Florida corporation (by way of reference, Knight-Rider was acquired by McClatchy in 2006) and Cox Enterprises, Inc., a Delaware corporation (“Cox”)
(collectively, the “1977 Agreements”), for the purchase of newsprint from SP’s mill located near Dublin, Georgia (“Dublin Mill”); and 
 WHEREAS, SP, Media General, Knight-Ridder and Cox terminated the 1977 Agreements and entered into that certain Amended Newsprint Purchase Contract, dated
as of November 1, 1987, by and among SP, Media General, Knight-Ridder and Cox (the “1987 Agreement”), for the purchase of newsprint from the Dublin Mill; 
 WHEREAS, the 1987 Agreement expires as of October 31, 2007; 
 WHEREAS, SP desires to enter into a new agreement, effective as of the Effective Date, with Purchaser for the purchase of newsprint from SP’s then-current facilities, including any SP facilities acquired or
otherwise utilized by SP after the Effective Date (“SP Facilities”); and 
 WHEREAS, simultaneously with the execution of
this Agreement, SP is entering into a similar agreement with each of Media General (“Media General Agreement”), McClatchy (“McClatchy Agreement”) and Cox Newsprint Supply (“Cox Agreement”) (with
this Agreement, the Media General Agreement, McClatchy Agreement and the Cox Agreement, collectively and together with this Agreement, referred to herein as “Purchase Contracts” and the parties thereto and hereto, other than SP,
collectively referred to herein as “Purchasers”). 

 NOW, THEREFORE, in consideration of the mutual covenants and conditions contained herein, and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 
  

	1.	TERM 

  

	 	1.1	SP agrees to sell and Purchaser agrees to purchase white standard commercial newsprint paper (in accordance with the specifications set forth in Section 6 below)
(“Newsprint”) upon the terms and conditions contained herein. Subject to Section 1.2, this Agreement shall be for an initial term of five (5) years from the Effective Date unless sooner terminated as provided herein and
will automatically renew for successive five (5) year terms unless terminated by either Party upon prior written notice to the other Party at least one year prior to the expiration of the then-current term. 

  

	 	1.2	Notwithstanding Section 1.1, if there is a Change in Control of SP (i) the initial term of this Agreement shall be six (6) years from date of the Change in Control
unless sooner terminated as provided herein; and (ii) such six (6) year term will automatically renew for successive one (1) year terms unless terminated by either Party upon prior written notice to the other Party at least two
(2) years prior to the expiration of the then-current term. For clarification, following a Change in Control of SP, this Agreement will terminate six (6) years from the date of the Change in Control if written notice of such termination is
received prior to the fourth anniversary of the date of the Change in Control. The following example is provided for further clarification: 

  

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 Following a Change in Control of SP that is effective as of January 1, 2008, the initial term of
this Agreement would end six (6) years after January 1, 2008 (or December 31, 2013), except that this Agreement will automatically renew for an additional one (1) year term unless written notice of termination is received prior
to January 1, 2012. Further, this Agreement will be extended for additional renewal terms of one (1) year each unless written notice of termination is receive prior to January 1 of each subsequent year. As a result, in order for a
Party to terminate this Agreement effective December 31, 2014, written notice of such termination must be received prior to January 1, 2013. 
 “Change in Control” shall mean the: (a) consolidation or merger of an entity with or into any entity in which the interest holders or shareholders of the first entity immediately prior to such
transaction are not holders of a majority of the voting power of the surviving entity immediately thereafter; (b) sale, transfer, or other disposition of all or substantially all of the assets of an entity to a person or entity; or
(c) acquisition by any person or entity, or group of persons or entities acting in concert, of Control of the outstanding voting securities or other ownership interests of an entity. “Control” or “Controlled”
shall mean, with respect to any entity, the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, whether through the ownership of voting securities (or other ownership
interest), by contract or otherwise. 
  

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	2.	PURCHASE OBLIGATIONS 

  

	 	2.1	Amount. 

 Purchaser agrees to
purchase Newsprint from SP in the annual amount of 35,000 tons of Newsprint per calendar year (“Annual Tonnage Commitment”). Such annual amount (i) will be pro rated for any partial year under this Agreement and (ii) will
be purchased by Purchaser at an approximate rate of 1/12 of the annual tonnage per month. 
 Purchaser may elect, upon written
notice to SP within ten (10) days following the execution of this Agreement and/or within thirty (30) days following a Change of Control of SP, to adjust (but not below the Annual Tonnage Commitment as defined in the paragraph above)
Purchaser’s Annual Tonnage Commitment for the remainder of 2007 (on a pro rated basis) and Purchaser’s Annual Tonnage Commitment for 2008 (which adjusted Annual Tonnage Commitment will be effective only for the remainder of 2007 or 2008,
as the case may be) to an amount not to exceed the amount of Newsprint purchased by Purchaser from SP during the previous twelve (12) month period under this Agreement and the 1987 Agreement at the prices set forth in this Agreement. With
respect to the Annual Tonnage Commitment for each year thereafter, on or prior to the end of the third quarter of each calendar year: (i) Purchaser may elect on an annual basis, upon written notice to SP, to increase Purchaser’s Annual
Tonnage Commitment for the following calendar year (which increased Annual Tonnage Commitment will be effective only for such calendar year) to an amount not to exceed the amount of Newsprint purchased by Purchaser from SP during the previous twelve
(12) month period at the prices set forth in this Agreement; and (ii) tonnage allotment for each SP Facility will be determined by the Parties for the following calendar year. Except as set forth in this Section 2.1, purchases of
Newsprint in excess of Purchaser’s Annual Tonnage Commitment and/or changes in allotments for each SP Facility will be subject to the mutual agreement of Purchaser and SP. 
  

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 For purposes of this Section 2.1, a ton means a short (2,000 lb.) ton with the
tonnage obligations being actual tons as weighed on a scale (and not recalculated on an equivalent ton basis if average basis weight changes). 
  

	 	2.2	Shortages. 

 If the amount of
Newsprint available for distribution by SP in any given month is, or is reasonably estimated by SP to be, less than the amount to be supplied by SP to (a) Purchasers, (b) customers with a firm written commitment from SP with an initial
term of at least five years, and (c) customers of SP where SP has been the sole supplier of Newsprint for a period of at least six months preceding the applicable month of such shortage (collectively with Purchasers, the “Take-or-Pay
Customers”), the Parties will cooperate in good faith to adjust the amount of tonnage to be distributed to Purchaser for such month, including adjusting any scheduled monthly deliveries and/or providing for increased shipments in a
subsequent month. SP also agrees to work with other Take-or-Pay Customers to make adjustments in their tonnage distributions (including any scheduled monthly deliveries and/or providing for increased shipments in a subsequent month) and to use
commercially reasonable efforts to include language substantially similar to the preceding sentence of this Agreement in all future Agreements with Take-or-Pay Customers. If the Parties do not mutually agree to adjust such scheduled monthly
deliveries and/or provide for increased shipments in a subsequent month, (i) such shortage shall first be allocated among all of the customers of SP, other than Take-or-Pay Customers, and to the extent a shortage still exists, any remaining
shortage shall be allocated among the Take-or-Pay Customers in proportion to the amount of Newsprint 

  

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actually purchased from SP by the Take-or-Pay Customers in the in the prior three months, and (ii) the Annual Tonnage Commitment for the remainder of
the term of this Agreement (or such lesser period as Purchaser may elect) will be reduced by the amount of the applicable shortage. 
  

	 	2.3	Affiliates. 

 “Affiliate” shall mean, as applied to a specified entity, (i) any other entity that directly or indirectly, through one or more intermediaries, Controls, is Controlled by or is under common Control with, the specified
entity, (ii) any other entity that directly or indirectly, through one or more intermediaries, owns 20% or more of any class of equity securities (including any equity securities issuable upon the exercise of any option or convertible security)
of the specified entity, or (iii) any other entity 20% or more of any class of equity securities (including any equity securities issuable upon the exercise of any option or convertible security) of which is owned or Controlled by the specified
entity. Upon the written request of Purchaser to SP at any time, Purchaser may elect either or both of the following options: (i) purchases of Newsprint by or for the benefit of Purchaser’s Affiliates from SP shall count toward the
fulfillment of Purchaser’s Annual Tonnage Commitment under Section 2.1 of this Agreement; or (ii) such Affiliates shall be entitled to purchase the Newsprint at Purchaser’s price. 
 Notwithstanding the foregoing paragraph, if an entity becomes an Affiliate of Purchaser and such entity had in force a Newsprint purchase
contract with SP at the time it became an Affiliate, the quantity of Newsprint purchased by such entity may, upon Purchaser’s request, count toward Purchaser’s fulfillment of its Annual Tonnage Commitment under Section 2.1 hereof upon
the earlier of (x) the expiration or termination of such Affiliate’s then-current agreement to purchase Newsprint from SP, 

  

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and (y) twelve (12) months after Purchaser’s written notice to SP that Purchaser has acquired such Affiliate and is electing to count the
quantity of Newsprint purchased by such entity toward Purchaser’s fulfillment of its Annual Tonnage Commitment, (except, in all cases, at the written request of Purchaser and upon becoming an Affiliate of Purchaser, such Affiliates shall be
entitled to Purchaser’s purchase price for Newsprint). 
 Except to the extent that Purchaser partially assigns this
Agreement pursuant to Section 13, if Purchaser divests an Affiliate, and/or sells a publication or publications, then the purchases of Newsprint by such divested entity or buyer of divested assets shall count towards fulfillment of
Purchaser’s Annual Tonnage Commitment set forth in Section 2.1 of this Agreement if the Purchaser acts as purchasing agent for such divested entity or buyer of divested assets or otherwise negotiates or facilitates purchases of Newsprint
on behalf of such divested entity or buyer of divested assets as agent, consultant or otherwise. For example, if such divested entity or buyer of divested assets does not enter into an agreement with SP containing terms and conditions substantially
similar to the terms and conditions set forth in this Agreement such that Purchaser is not entitled to partially assign this Agreement pursuant to Section 13 hereof, but such divested entity or buyer of divested assets continues to buy
Newsprint from SP at Purchaser’s request, then such purchases of Newsprint shall count towards fulfillment of Purchaser’s Annual Tonnage Commitment set forth in Section 2.1 of this Agreement. 
 Notwithstanding any other provision in this Agreement, each Party will be responsible for its Affiliates’ (other than divested
Affiliates) compliance with the terms and conditions of this Agreement. 
  

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	3.	PRICE 

  

	 	3.1	Price Per Ton. 

 The price per ton
(2,000 pounds) of Newsprint to be paid by Purchaser under this Agreement shall be the lowest quartile weighted average price of all Purchase Contracts to purchase Newsprint executed by Media General, McClatchy and Cox Newsprint Supply, calculated in
accordance with the methodology set forth in Section 3.2 below (including freight costs or charges). Such price per ton will be determined at the time of shipment for deliveries to the destination to which Purchaser directs, less any discounts
as may be determined by SP. If one or more Purchase Contracts are terminated or if additional Purchase Contracts are added pursuant to Section 13 of this Agreement, the price per ton of Newsprint will equal the lowest quartile weighted average
price of the Purchase Contracts then in effect. The price per ton by basis weight of Newsprint shall be the same for each Purchaser. 
  

	 	3.2	Pricing Methodology. 

 Purchaser
will provide a blind listing of all of its current purchase orders from newsprint suppliers with whom Purchaser has no equity interest to the Chief Executive Officer or the Chief Financial Officer of SP, which listing will include the following
information for each purchase order: 
  

	 	(a)	the transaction price, as determined in accordance with generally accepted accounting principles; 

  

	 	(b)	the tonnage for the month; and 

  

	 	(c)	the basis weight. 

 SP will provide an estimate of the purchase price for the applicable quarter based upon such information and based upon market forecasts. Pricing for the then-current quarter will be adjusted prior to the fifteenth
(15th) day of the third (3rd) month
of each calendar quarter to reflect the actual price for such quarter. The actual quarterly price 

  

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will be the monthly weighted average price for such quarter, as determined by calculating the average of the three monthly prices in such quarter (i.e., the
sum of the three monthly weighted average prices divided by three). An example of the pricing methodology is set forth on Attachment A to this Agreement. 
  

	 	3.3	Change in Control. 

 If there is a
Change in Control of SP, then Purchaser, McClatchy and Cox Newsprint Supply, will select an independent third-party accounting firm reasonably acceptable to SP (or its successor, if applicable) to receive the information described in
Section 3.2 from Purchasers with respect to pricing under this Agreement and the other Purchase Contracts. Such third-party accounting firm will be selected by a majority of Purchaser, McClatchy and Cox Newsprint Supply (with Purchaser,
McClatchy and Cox Newsprint Supply, having one vote). Any fees attributable to such third-party accounting firm will be borne equally by Purchasers. The third-party accounting firm will forward the price calculations to the Chief Executive Officer
and Chief Financial Officer of SP (or its successor, if applicable) in accordance with section 3.2 herein. Any pricing submitted to such third-party accounting firm by Purchasers as well as calculations derived by such third-party accounting firm
will be subject to audit by SP (or its successor, if applicable). If such audit is requested, SP (or its successor, if applicable), will utilize a separate third-party accounting firm acceptable to Purchaser, McClatchy and Cox Newsprint Supply. Cost
of such audit will be borne by SP (or its successor, if applicable). 
  

	4.	SHIPMENT 

  

	 	4.1	The Newsprint shall be shipped in rolls with freight allowed to such destinations as Purchaser shall specify. Freight costs shall not include warehousing, storage, local cartage,
delivery or similar charges not customarily allowed in SP Newsprint agreements, with such costs to be borne by Purchaser. 

  

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	 	4.2	Route and carrier shall be determined by SP, and delivery will be made by truck or rail f.o.b. SP’s Facility with freight prepaid to destination. 

  

	 	4.3	As an incentive for Purchaser to select shipping destinations beneficial to SP, a freight allowance (“Freight Allowance”) will be offered by SP for each Purchaser
shipping destination that has all-in freight rates for tons purchased by Purchaser under this Agreement that are lower than SP’s average all-in freight rate, excluding the Purchase Contracts. Such Freight Allowance will be determined as
follows: 

  

	 	(a)	SP will calculate its average all-in freight rate for all of its customers for each SP Facility, excluding the Purchase Contracts for the then-current calendar quarter, to establish
a freight rate baseline. 

  

	 	(b)	SP will calculate Purchaser’s average all-in freight rate under this Agreement for each SP Facility and each Purchaser shipping destination for the then-current calendar
quarter. 

  

	 	(c)	 Purchaser will be entitled to a Freight Allowance for the subsequent calendar quarter for each Purchaser shipping destination with an all-in freight rate calculated
in Section 4.3(b) that is lower than SP’s freight rate baseline calculated in Section 4.3(a). For clarification, the Freight Allowance will be calculated separately for each SP Facility and each Purchaser shipping destination, with
such Freight Allowance being calculated as the difference per ton between the freight rate baseline and 

  

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the Purchaser’s all-in freight rate. No Freight Allowance will be paid for any Purchaser shipping destination with all-in freight rates that exceed the
applicable freight rate baseline for then-current quarter. Freight Allowances will be calculated and revised on a quarterly basis, with any applicable changes being applied to all shipments beginning on the first calendar day of each quarter and
ending on the last calendar day of each quarter. 

  

	 	(d)	The Freight Allowance, if applicable, will be applied to all tons shipped to the shipping destination of Purchaser from each SP Facility during such calendar quarter.

  

	 	(e)	Payment of the Freight Allowance will be made in a manner that is mutually agreed to by the Parties. For example, Freight Allowances may be aggregated for all Purchaser shipping
destinations to which Newsprint is provided under this Agreement and issued by SP monthly or quarterly as a single credit, or issued as a credit to individual invoices. 

 An example of the Freight Allowance methodology is set forth on Attachment B to this Agreement. 
  

	5.	TITLE 

 Title to the Newsprint shall
pass to Purchaser in the event of shipment by independent carrier upon delivery to such independent carrier, or its agent, consigned to Purchaser, or in the event of shipment by other than independent carrier, upon delivery to Purchaser or its
agent. 
  

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	6.	SPECIFICATIONS 

 The basis weight of the Newsprint shall be customary ranges defined from
time-to-time as newsprint (e.g., 43 grams per meter squared (gsm) to 52.1 gsm). Purchaser shall provide SP, prior to the 15th day of each month,
with complete specification expressed in tons with respect to core size, roll widths and diameter for the shipments to be made during the following month. If SP fails to receive such specification from Purchaser, SP may deliver Newsprint in
accordance with the specifications last received. Rolls shall be wound on non-returnable paper cores unless Purchaser requests returnable metal tip cores. 
 Quality specifications are set forth in Attachment C to this Agreement. Attachment C may be amended from time-to-time upon the prior written approval of both Parties, which approval will not be
unreasonably withheld or delayed, to reflect changes in applicable industry standards during the term of this Agreement. 
 If
Newsprint delivered to Purchaser by SP does not comply with the quality specifications set forth on Attachment C, Purchaser will notify SP in writing (or by telephone or email if promptly confirmed in writing by Purchaser) promptly upon
Purchaser’s knowledge of such non-compliance, including providing SP with reasonably specific detail of the items and reasons for such non-compliance. Upon SP’s receipt of such notice of non-compliance, (i) SP will use commercially
reasonable efforts to remedy such non-compliance (and, upon SP’s reasonable request, Purchaser will use commercially reasonable efforts to assist SP in its attempt to remedy such non-compliance provided that Purchaser shall not be required to
assist with or accept any remedy that is inconsistent with Purchaser’s past practices) , and/or (ii) SP may, at its sole expense and within thirty (30) days of SP’s receipt of such notice, supply Purchaser 

  

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with Newsprint from an alternate SP Facility that complies with the quality specifications set forth on Attachment C. If SP remedies such
non-compliance as to quality and quantity of Newsprint within such thirty (30) day period, there will be no adjustment to Purchaser’s Annual Tonnage Commitment. 
 If SP is unable to provide Newsprint in the required quantities that complies with the quality specifications set forth on Attachment
C within such thirty (30) day period, Purchaser may elect, upon ninety (90) days prior written notice to SP, to reduce its Annual Tonnage Commitment: 
 (i) for the remainder of the term of this Agreement (or such lesser period as Purchaser may elect) by an amount, calculated on an ongoing
basis, equal to the Tonnage Reduction Amount; provided, however, if SP cures such non-conformance as to quality and quantity within such ninety (90) day period, Purchaser will promptly resume its Annual Tonnage Commitment for the then-current
year (except to the extent of any applicable Surplus Amount during such then-current year) and in full for the remainder of the term of the Agreement thereafter; and 
 (ii) for the then-current year by an amount equal to the Surplus Amount, if any. 
 For clarification, Purchaser will not be responsible for purchasing, and the Annual Tonnage Commitment for the then-current year will be
reduced by, the Surplus Amount (if any). 
  

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 The “Tonnage Reduction Amount” means the amount of Newsprint that SP is
obligated to provide under this Agreement minus the amount of Newsprint that SP delivers in accordance with the quality specifications set forth on Attachment C. 
 The “Surplus Amount” means (a) the amount of Newsprint that SP delivers in accordance with the quality
specifications set forth on Attachment C during the applicable period, plus (b) the amount of newsprint that Purchaser acquired from other sources for the applicable period (and not for future periods) that SP did not supply Newsprint in
accordance with the quality specifications set forth on Attachment C, minus (c) the amount of Newsprint that SP is obligated to provide under this Agreement during the applicable period. 
 In addition, if (a) Newsprint delivered to Purchaser by SP does not comply with the quality specifications set forth on Attachment
C and SP does not cure such failure as to quality and quantity within the ninety (90) day period set forth above two (2) or more times during any twelve (12) month period, and (b) such non-conforming Newsprint equals at least
ten thousand (10,000) tons, then, Purchaser may elect, within sixty (60) days of the occurrence of the second (or more) such failure to conform, to terminate this Agreement upon sixty (60) days prior written notice to SP. For example,
if there are five occurrences of such noncompliance that are not cured within the ninety (90) period set forth above and Purchaser has not elected to terminate, Purchaser may still elect to terminate within sixty (60) days of the most
recent uncured noncompliance if the last two occurrences (i.e., the fourth and fifth occurrences) were within the preceding twelve (12) month period. The foregoing termination right is not an exclusive remedy and is in addition to any other
rights or remedies Purchaser may have under this Agreement at law or in equity. 
  

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	7.	INVOICES 

 Invoices shall be based
on the gross weight of rolls on shipment, including paper, wrappings and plugs. 
  

	8.	TERMS OF PAYMENT AND TAXES 

 Terms
of payment shall be net cash no later than the last day of the month for Newsprint delivered to Purchaser during the previous month. Interest at the rate of either 6% per annum or the “Base Rate” charged from time to time by
Citibank, New York, New York, plus 1%, whichever is greater, shall be paid on all amounts remaining unpaid following the due dates. Any taxes, levies, rates, assessments or duties imposed by any governmental authority, other than taxes measured by
SP’s profits, which directly or indirectly apply to the Newsprint, shall be paid by Purchaser. 
  

	9.	CLAIMS 

 No allowance shall be made
for Newsprint left on cores or for waste or damage after delivery of the Newsprint to a carrier for shipment to Purchaser, unless such damage is not visible on delivery in which case a claim must be made by Purchaser to SP within fifteen
(15) days after the removal of the wrapper. No claim shall be allowed for consequential damage. In case of a claim by Purchaser of any nature with respect to any shipment of the Newsprint pursuant hereto, Purchaser shall notify SP thereof
within 15 days after the receipt of such shipment. If Purchaser fails to give such notice, it shall be deemed to have waived such claim. 
  

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	10.	CONTINGENCIES 

 In case SP shall be
unable or fail at any time to supply or ship any Newsprint covered by this Agreement because of war, terrorist attack, national defense, riot, civil commotion, act of the public enemy, act of God, fire, explosion, accident, strike, lockout, labor
disturbances, flood, drought, embargo, or any other delay or contingency resulting from a cause or causes beyond its reasonable control (“force majeure”), SP shall not be liable to Purchaser for any failure to supply such Newsprint
in proportion to the extent of such disability nor for any delay due to force majeure; and if Purchaser shall be unable or shall fail at any time to take any of the Newsprint in consequence of force majeure, Purchaser likewise shall not be liable to
SP for any such failure in proportion to its disability or for any delay. Notwithstanding the foregoing, Purchaser agrees to accept shipments in transit when any of the above described events occur. 
  

	11.	DEFAULT 

 If Purchaser fails to pay
any amount due hereunder or fails to perform any other provisions of this Agreement, SP may, notwithstanding any other provisions of this Agreement, and in addition to any other remedies available to it under applicable law, make deliveries subject
to payment upon presentation of sight draft attached to Bill of Lading or refuse to furnish any additional Newsprint hereunder to Purchaser and declare the obligations of Purchaser hereunder due forthwith, but Purchaser shall remain liable to SP for
all loss and damage sustained by reason of such failure. 
  

	12.	NOTICES 

 Except as otherwise
expressly set forth in this Agreement, all notices given hereunder shall be in writing and shall be delivered in hard copy using one of the following methods and shall be deemed delivered upon receipt: (i) by hand, (ii) by an express
courier with a reliable system for tracking delivery, or (iii) by registered or 

  

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certified mail, return receipt requested, postage prepaid. Unless otherwise notified by a Party to the other Party in the manner specified above, the
foregoing notices shall be delivered as follows: 
 If to SP: 
 SP Newsprint Co. 
 Vice President of Marketing 
 245 Peachtree Center Avenue 
 Atlanta, Georgia 30303 
 with a copy to: 
 SP Newsprint Co. 
 Vice President of Operations 
 245 Peachtree Center Avenue 
 Atlanta, Georgia 30303 
 If to Purchaser: 
 Media General Operations, Inc. 
 c/o Media General, Inc. 
 333 East Franklin Street 
 Richmond, VA 23219 
 Attention: Treasurer 
 with a copy to: 
 Media General Operations, Inc. 
 c/o Media General, Inc. 
 333 East Franklin Street 
 Richmond, VA 23219 
 Attention: General Counsel 
  

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	13.	ASSIGNMENT 

 Except as otherwise set
forth below in this Section 13, this Agreement may not be assigned by either Party without the written consent of the other Party and any such attempted assignment will be void. This Agreement may be assigned by a Party, without the consent of
the other Party, upon written notice to other Party (i) in connection with a Change in Control of a Party, (ii) in the case of Purchaser, to an Affiliate; provided, however, such assignment will not relieve Purchaser of its obligations
hereunder, or (iii) in the case of SP, by SP to one or more lenders as security for indebtedness for borrowed money. 
 Additionally, upon the prior written consent of SP (which consent will not be unreasonably withheld or delayed), if Purchaser divests an Affiliate that received, and/or sells a publication or publications that consumed, at least five
thousand (5,000) tons of Newsprint under this Agreement from SP during the preceding twelve (12) month period and such divested entity or buyer of divested assets agrees to be bound by terms and conditions substantially similar to the
terms and conditions set forth in this Agreement (including, without limitation, agreeing to an annual tonnage commitment for the remainder of the term of this Agreement), then, Purchaser may assign its rights and delegate its obligations to such
divested entity or buyer of divested assets. Upon such assignment and delegation (or other assignment and delegation consented to in writing by SP), (i) such divested entity or buyer of divested assets will be included in the definition of
“Purchasers” under this Agreement; (ii) the agreement between SP and such divested entity or buyer of divested assets will be included with the definition of “Purchase Contracts” under this Agreement; and (iii) the
Annual Tonnage Commitment set forth in Section 2.1 shall be reduced by an amount equal to the annual tonnage commitment that 

  

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the third party agrees to purchase from SP for such period under this Agreement as the third party agrees to make such annual tonnage commitment, and
Purchaser shall be fully released with respect to all obligations relating thereto. 
  

	14.	CONTRACT COMPLETE 

 This Agreement
sets forth the entire agreement of the Parties, including all of the terms and conditions of the agreement between the Parties with respect to the sale and purchase of the Newsprint, and supersedes all prior executed and unexecuted versions of this
Agreement. This Agreement may not be altered in any respect by either Party, except with the consent of both Parties in writing executed by their respective duly authorized officers; provided, however, prior to a Change in Control of SP, this
Agreement may not be altered in any respect by either Party, except with consent of both Parties in writing executed by their respective duly authorized officers and the prior consent of the SP Management Board. This Agreement is the valid and
binding Agreement of the Parties and their permitted successors and assigns. The Parties acknowledge that newsprint purchase contracts are frequently treated by the parties thereto and by the newsprint and newspaper industries merely as expressions
of intent, and not as binding contractual commitments legally enforceable in accordance with their terms. However, the Parties expressly disclaim and negate such usage of trade or industry practices, and any prior course of dealing between the
Parties, or between SP and others, which may have followed such usage of trade, and the Parties explicitly agree and affirm that this Agreement is valid, binding and legally enforceable upon them in accordance with its terms, and that either Party
may seek specific performance hereof in a court of appropriate jurisdiction. 
  

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	15.	CONFIDENTIALITY 

  

	 	15.1	Confidential Information. 

 From
time to time, either Party (the “Disclosing Party”) may disclose or make available to the other Party (the “Receiving Party”), whether orally or in physical form, confidential or proprietary information concerning
the Disclosing Party and/or its business, products, services or deliverables from its professional advisors or agents (together, “Confidential Information”) in connection with this Agreement. Each Party agrees that during the term
of this Agreement and thereafter (i) it will use Confidential Information belonging to the Disclosing Party solely for the purpose(s) of this Agreement and (ii) it will take all reasonable precautions to ensure that it does not disclose
Confidential Information belonging to the Disclosing Party to any third party (other than the Receiving Party’s employees, agents and/or professional advisors on a need-to-know basis who are made aware of the nondisclosure and limited use
obligations contained herein) without first obtaining the Disclosing Party’s written consent. The Receiving Party is responsible for any breach of the confidentiality provisions of this Agreement by its employees or agents. Upon request by the
Disclosing Party, the Receiving Party will return all copies of any Confidential Information to the Disclosing Party. For Confidential Information that does not constitute “trade secrets” under applicable law, these confidentiality
obligations will expire three (3) years after the termination or expiration of this Agreement. 
  

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	 	15.2	Exceptions. 

 For purposes hereof,
“Confidential Information” will not include any information that the Receiving Party can establish by written evidence (i) was independently developed by the Receiving Party without use of or reference to any Confidential
Information belonging to the Disclosing Party; (ii) was acquired by the Receiving Party from a third party having the legal right to furnish same to the Receiving Party; (iii) was at the time in question (whether at disclosure or
thereafter) generally known by or available to the public (through no fault of the Receiving Party); or (iv) was in possession of or known to the Receiving Party prior to the disclosure by the Disclosing Party. 
  

	 	15.3	Governmental Authorities. 

 These
confidentiality obligations will not restrict any disclosure required by order of a court or any government agency, provided that the Receiving Party gives prompt notice to the Disclosing Party of any such order and reasonably cooperates with the
Disclosing Party at the Disclosing Party’s request and expense to resist such order or to obtain a protective order. 
  

	16.	APPLICABLE LAW 

 This contract shall
be governed by the laws of the State of Georgia, without regard to or application of conflicts of laws rules or principles. 
  

	17.	RIGHTS OF THE PARTIES ARE CUMULATIVE 

 The rights of the Parties hereunder are cumulative and no exercise or enforcement by a Party of any right or remedy hereunder shall preclude the exercise or enforcement by a Party of any other right or remedy hereunder or which a Party is
entitled by law or equity to enforce. 
  

 -21- 

	18.	1987 AGREEMENT 

 On the Effective
Date, the Parties acknowledge and agree that this Agreement will be in full force and effect and that the 1987 Agreement will terminate; provided, however (i) the annual tonnage commitment set forth in Section 2 of the 1987 Agreement,
including any applicable obligation relating to surplus Newsprint set forth in Section 2.2(b) of the 1987 Agreement, will continue to apply through the end of the term of the 1987 Agreement (October 31, 2007), and (ii) the Annual Tonnage
Commitment set forth in this Agreement will not be applicable until November 1, 2007. 
 [signatures on next page] 
  

 -22- 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Execution Date set
forth above. 
  

			
	SP NEWSPRINT CO.
		
	 By:
	 	 /s/ Joseph R. Gorman

	 Name:
	 	Joseph R. Gorman
	 Title:
	 	President
	
	 MEDIA GENERAL OPERATIONS, INC.

		
	 By:
	 	 /s/ John A. Schauss

	 Name:
	 	John A. Schauss
	 Title:
	 	Treasurer

  

 -23- 

 Attachment A 
 SP Newsprint Co. 
 Methodology To Calculate First Quartile Weighted Average 
 All Numbers Hypothetical - Listing of Purchaser Contracts Sorted by Price 
  

																																				
	 	  	Metric
Tons	  	 	  	 	  	First Quartile	  	Second Quartile	  	Third Quartile	  	Fourth Quartile
	 Contracts
	  	  	Price	  	Total	  	Tons	  	Price	  	Total	  	Tons	  	Price	  	Total	  	Tons	  	Price	  	Total	  	Tons	  	Price	  	Total
	1	  	8,000	  	$	715.00	  	$	 5,720,000	  	8,000	  	$	715.00	  	5,720,000	  	—  	  			  	—  	  		  		  		  		  			  	
	2	  	2,500	  	$	720.00	  	$	 1,800,000	  	2,000	  	$	720.00	  	1,440,000	  	500	  	$	720.00	  	360,000	  		  		  		  		  			  	
	3	  	900	  	$	720.00	  	$	 648,000	  		  			  		  	900	  	$	720.00	  	648,000	  		  		  		  		  			  	
	4	  	2,700	  	$	720.00	  	$	 1,944,000	  		  			  		  	2,700	  	$	720.00	  	1,944,000	  		  		  		  		  			  	
	5	  	750	  	$	720.00	  	$	 540,000	  		  			  		  	750	  	$	720.00	  	540,000	  		  		  		  		  			  	
	6	  	11,500	  	$	722.00	  	$	 8,303,000	  		  			  		  	5,150	  	$	722.00	  	3,718,300	  	6,350	  	$722.00	  	4,584,700	  		  			  	
	7	  	1,500	  	$	722.00	  	$	 1,083,000	  		  			  		  		  			  		  	1,500	  	$722.00	  	1,083,000	  		  			  	
	8	  	7,900	  	$	720.00	  	$	 5,688,000	  		  			  		  		  			  		  	2,150	  	$720.00	  	1,548,000	  	5,750	  	$	720.00	  	4,140,000
	9	  	300	  	$	725.00	  	$	 217,500	  		  			  		  		  			  		  		  		  		  	300	  	$	725.00	  	217,500
	10	  	200	  	$	725.00	  	$	 145,000	  		  			  		  		  			  		  		  		  		  	200	  	$	725.00	  	145,000
	11	  	200	  	$	730.00	  	$	 146,000	  		  			  		  		  			  		  		  		  		  	200	  	$	730.00	  	146,000
	12	  	100	  	$	730.00	  	$	 73,000	  		  			  		  		  			  		  		  		  		  	100	  	$	730.00	  	73,000
	13	  	250	  	$	730.00	  	$	 182,500	  		  			  		  		  			  		  		  		  		  	250	  	$	730.00	  	182,500
	14	  	800	  	$	730.00	  	$	 584,000	  		  			  		  		  			  		  		  		  		  	800	  	$	730.00	  	584,000
	15	  	200	  	$	730.00	  	$	 146,000	  		  			  		  		  			  		  		  		  		  	200	  	$	730.00	  	146,000
	16	  	800	  	$	730.00	  	$	 584,000	  		  			  		  		  			  		  		  		  		  	800	  	$	730.00	  	584,000
	17	  	400	  	$	730.00	  	$	 292,000	  		  			  		  		  			  		  		  		  		  	400	  	$	730.00	  	292,000
	18	  	1,000	  	$	730.00	  	$	 730,000	  		  			  		  		  			  		  		  		  		  	1,000	  	$	730.00	  	730,000
		  	 	  	 	 	  	 	 	  	 	  	 	 	  	 	  	 	  	 	 	  	 	  	 	  	 	  	 	  	 	  	 	 	  	 
		  	40,000	  	$	720.65	  	$	28,826,000	  	10,000	  	$	716.00	  	7,160,000	  	10,000	  	$	721.03	  	7,210,300	  	10,000	  	$721.57	  	7,215,700	  	10,000	  	$	724.00	  	7,240,000
		  	 	  	 	 	  	 	 	  	 	  	 	 	  	 	  	 	  	 	 	  	 	  	 	  	 	  	 	  	 	  	 	 	  	 

  

						
	 	  	Quartile	  	Wgt. Avg
of
Quartile
	 1st Quartile
	  	10,000	  	$	716.00
	 2nd Quartile
	  	10,000	  	$	721.03
	 3rd Quartile
	  	10,000	  	$	721.57
	 4th Quartile
	  	10,000	  	$	724.00
		  	 	  	 	 
	 Total
	  	40,000	  	$	720.65
		  	 	  	 	 

 Purchaser price is equal to lowest quartile weighted average or in this example $716.00. 

 Attachment B 
 Methodology To Calculate Freight Allowance 
 Freight Allowances to be Revised Quarterly 
 All Numbers Hypothetical 
  

									
	 All values calculated per short ton in this example
	  	 	  	Dublin
Mill	  	Newberg
Mill
	Step 1. Determine the then-current quarter average freight for all shipments excluding those with Purchase Contracts separately for each SP Facility. This will be the baseline that cannot be
exceeded to qualify for freight allowance.	  		  	$	35	  	$	50
				
	Step 2. Determine the Purchaser’s all-in average freight rate for each Purchaser shipping destination for the then-current quarter.	  	 Purchaser A
     Location
1
     Location 2
	  	$ $
	20 35
	  	$ $
	55 35

				
		  	 Purchaser B
     Location
1
     Location 2
	  	$ $
	15 49
	  	$ $
	15 60

				
		  	 Purchaser C
     Location
1
     Location 2
	  	$ $
	25 25
	  	   
	NA NA

				
	 Step 3. Determine the Freight Allowance for subsequent quarter based on the difference between the baseline freight rate calculated in
step 1 and the all-in average freight rate calculated in step 2 (i.e., the value of step 1 less the value step 2) if greater than zero. If not greater than zero, no Freight Allowance is available for the subsequent quarter for such SP
Facility/Purchaser shipping destination combination.
  
 The Freight Allowance will be
provided by SP for each ton shipped to a qualifying Purchaser destination during the calendar quarter in a manner mutually agreeable by the parties (e.g., a credit or applied to each invoice).
  
 If a Purchaser shipping location’s all-in freight costs exceed the baseline for the then-current
quarter, no allowance will be allowed for such location in the subsequent quarter. However, if the Purchaser shipping location’s all-in freight costs drop below the baseline in a future quarter, the location will become eligible for a Freight
Allowance for shipments made during the subsequent quarter.
	  	 Purchaser A
     Location
1
     Location 2
	  	$ $
	15 0
	  	$ $
	0 15

	  	 Purchaser B
     Location
1
     Location 2
	  	$ $
	20 0
	  	$ $
	35 0

	  	 Purchaser C
     Location
1
     Location 2
	  	$ $
	10 10
	  	   
	NA NA

 Attachment C 
 Quality Specifications 
 [See Schedules C-1 through C-6 attached to this Attachment C]

 The quality specifications set forth in Schedules C-1 through C-6 reflect industry standard specifications as of the Execution
Date for the basis weights set forth in such Schedules. As industry standard quality specifications change during the term of this Agreement, Schedules C-1 through C-6 may be amended from time-to-time upon the prior written approval of both Parties,
which approval will not be unreasonably withheld or delayed, to reflect such changes. 

 Schedule C-1 
 Dublin Mill – 26.43 STANDARD (43 g/m2) Quality Specifications 
 PHYSICAL AND OPTICAL
CHARACTERISTIC SPECIFICATIONS 
 FOR NEWSPRINT 
 Tests @ 48%-52% Relative Humidity and 71o- 76oF 
 (Based on Reel Averages – Not Single Position Tests) 
 Newsprint will be deemed to
conform to the quality specifications set forth below if such Newsprint is delivered to Purchaser within the following limits and ranges: 
  

								
	 	  	MIN
REJECT
LIMIT	  	TARGET
(Reel Avg.)	 	 	MAX
REJECT
LIMIT
	 Basis Weight
 (lbs/3000 ft2)
	  	25.9	  	26.43 (43 g/m
	  2)
	 	26.9
				
	 Moisture (%)
	  	6.50	  	8.70	 	 	9.50
				
	 Brightness Top – %
 (ISO Standard)
	  	56.0	  	57.0	 	 	59.0
				
	 Color (L*)
 Color (a*)
 Color (b*)
	  	N/A -1.0
 2.5
	  	83.5 -.50
 3.4
	   
  
	 	N/A 0.01
 3.9

				
	 Opacity – Top (%)
	  	92.0	  	93.5	 	 	N/A

  

			
	 Core Type:
	  	Customer specified type
	 Roll Width:
	  	+/- 1/16”
	 Roll Diameter:
	  	+1/4” -3/4”
	 Splices:
	  	 Limit 2 per roll
 No splices within 1” of top of
roll (2” roll diameter)

 In addition, with respect to the following items, Newsprint will be deemed to conform to the
quality specifications set forth below if such Newsprint is delivered to Purchaser consistent in all material respects with the industry standards applicable to the following items: 
  

			
	Bar Codes:	  	Printed clearly, no smudges or scratches (TAPPI, IFRA or other)
	Wrapped Rolls:	  	Roll packages are clean and intact
		  	Roll labels are clean and legible
		  	Label stencils are readable by scanners
	Other:	  	Loaded per safety and customer requirements
		  	Appropriate dunnage utilized
		  	Seals applied to secure closed doors
		  	Correct bill of lading issued
		  	Customer Paper Test Analysis provided, if required by customer

 Schedule C-2 
 Dublin Mill – 27.66 STANDARD (45 g/m2) Quality Specifications 
 PHYSICAL AND OPTICAL
CHARACTERISTIC SPECIFICATIONS 
 FOR NEWSPRINT 
 Tests @ 48%-52% Relative Humidity and 71o- 76oF 
 (Based on Reel Averages – Not Single Position Tests) 
 Newsprint will be deemed to
conform to the quality specifications set forth below if such Newsprint is delivered to Purchaser within the following limits and ranges: 
  

							
	 	  	MIN
REJECT
LIMIT	  	TARGET
(Reel Avg.)	 	MAX
REJECT
LIMIT
	 Basis Weight
 (lbs/3000 ft2)
	  	27.1	  	27.66 (45 g/m2)
	 	28.1
				
	 Moisture (%)
	  	6.50	  	8.70	 	9.50
				
	 Brightness Top – %
 (ISO Standard)
	  	56.0	  	57.5	 	59.0
				
	 Color (L*)
 Color (a*)
 Color (b*)
	  	N/A -1.0
 2.5
	  	83.5 -.50
 3.4
	 	N/A 0.01
 3.9

				
	 Opacity – Top (%)
	  	92.4	  	93.9	 	N/A

  

			
	 Core Type:
	  	Customer specified type
	 Roll Width:
	  	+/- 1/16”
	 Roll Diameter:
	  	+1/4” -3/4”
	 Splices:
	  	Limit 2 per roll
		  	No splices within 1” of top of roll (2” roll diameter)

 In addition, with respect to the following items, Newsprint will be deemed to conform to the
quality specifications set forth below if such Newsprint is delivered to Purchaser consistent in all material respects with the industry standards applicable to the following items: 
  

			
	Bar Codes:	  	Printed clearly, no smudges or scratches (TAPPI, IFRA or other)
	Wrapped Rolls:	  	Roll packages are clean and intact
		  	Roll labels are clean and legible
		  	Label stencils are readable by scanners
	Other:	  	Loaded per safety and customer requirements
		  	Appropriate dunnage utilized
		  	Seals applied to secure closed doors
		  	Correct bill of lading issued
		  	Customer Paper Test Analysis provided, if required by customer

 Schedule C-3 
 Dublin Mill – 30 STANDARD (48.8 g/m2) Quality Specifications 
 PHYSICAL AND OPTICAL
CHARACTERISTIC SPECIFICATIONS 
 FOR NEWSPRINT 
 Tests @ 48%-52% Relative Humidity and 71o- 76oF 
 (Based on Reel Averages – Not Single Position Tests) 
 Newsprint will be deemed to
conform to the quality specifications set forth below if such Newsprint is delivered to Purchaser within the following limits and ranges: 
  

							
	 	  	MIN
REJECT
LIMIT	  	TARGET
(Reel Avg.)	 	MAX
REJECT
LIMIT
	 Basis Weight
 (lbs/3000 ft2)
	  	29.5	  	30.0 (48.8 g/m2)
	 	30.5
				
	 Moisture (%)
	  	6.50	  	8.70	 	9.50
				
	 Brightness Top – %
 (ISO Standard)
	  	56.0	  	57.5	 	59.0
				
	 Color (L*)
 Color (a*)
 Color (b*)
	  	N/A -1.0
 2.5
	  	83.5 -.50
 3.4
	 	N/A 0.01
 3.9

				
	 Opacity – Top (%)
	  	93.7	  	94.7	 	N/A

  

			
	Core Type:	  	Customer specified type
	Roll Width:	  	+/- 1/16”
	Roll Diameter:	  	+1/4” -3/4”
	Splices:	  	Limit 2 per roll
		  	No splices within 1” of top of roll (2” roll diameter)

 In addition, with respect to the following items, Newsprint will be deemed to conform to the
quality specifications set forth below if such Newsprint is delivered to Purchaser consistent in all material respects with the industry standards applicable to the following items: 
  

			
	 Bar Codes:
	  	Printed clearly, no smudges or scratches (TAPPI, IFRA or other)
	 Wrapped Rolls:
	  	Roll packages are clean and intact
		  	Roll labels are clean and legible
		  	Label stencils are readable by scanners
	 Other:
	  	Loaded per safety and customer requirements
		  	Appropriate dunnage utilized
		  	Seals applied to secure closed doors
		  	Correct bill of lading issued
		  	Customer Paper Test Analysis provided, if required by customer

 Schedule C-4 
 Newberg Mill – 26.4# STANDARD (43 g/m2
) Quality Specifications 
 PHYSICAL AND OPTICAL CHARACTERISTIC SPECIFICATIONS 

 FOR NEWSPRINT 
 Tests @ 48%-52% Relative Humidity and 71o- 76oF 
 (Based on Reel Averages – Not Single Position Tests)

 Newsprint will be deemed to conform to the quality specifications set forth below if such Newsprint is delivered to Purchaser within the
following limits and ranges: 
  

							
	 	  	MIN
REJECT
LIMIT	  	TARGET
(Reel Avg.)	 	MAX
REJECT
LIMIT
	 Basis Weight
 (lbs/3000 ft2)
	  	25.2	  	26.4 (43 g/m2)
	 	27.6
				
	 Moisture (%)
	  	6.5	  	9.2	 	10.0
				
	 Brightness Top – %
 (ISO Standard)
	  	55.8	  	57.0	 	N/A
				
	 Color (a*)
 Color (b*)
	  	-0.5 2.2
	  	0.0 3.2
	 	0.5 4.2

				
	 Opacity – Top (%)
	  	92.0	  	93.5	 	N/A

  

			
	Core Type:	  	Customer specified type
	Roll Width:	  	+/- 1/16”
	Roll Diameter:	  	+1/4” -3/4”
	Splices:	  	Limit 2 per roll
		  	No splices within 1” of top of roll (2” roll diameter)

 In addition, with respect to the following items, Newsprint will be deemed to conform to the
quality specifications set forth below if such Newsprint is delivered to Purchaser consistent in all material respects with the industry standards applicable to the following items: 
  

			
	Bar Codes:	  	Printed clearly, no smudges or scratches (TAPPI, IFRA or other)
	Wrapped Rolls:	  	Roll packages are clean and intact
		  	Roll labels are clean and legible
		  	Label stencils are readable by scanners
	Other:	  	Loaded per safety and customer requirements
		  	Appropriate dunnage utilized
		  	Seals applied to secure closed doors
		  	Correct bill of lading issued
		  	Customer Paper Test Analysis provided, if required by customer

 Schedule C-5 
 Newberg Mill – 27.66# STANDARD (45 g/m2
) Quality Specifications 
 PHYSICAL AND OPTICAL CHARACTERISTIC SPECIFICATIONS 

 FOR NEWSPRINT 
 Tests @ 48%-52% Relative Humidity and 71o- 76oF 
 (Based on Reel Averages – Not Single Position Tests)

 Newsprint will be deemed to conform to the quality specifications set forth below if such Newsprint is delivered to Purchaser within the
following limits and ranges: 
  

							
	 	  	MIN
REJECT
LIMIT	  	TARGET
(Reel Avg.)	 	MAX
REJECT
LIMIT
	 Basis Weight
 (lbs/3000 ft2)
	  	26.5	  	27.66 (45 g/m2)
	 	29.0
				
	 Moisture (%)
	  	6.5	  	9.2	 	10.0
				
	 Brightness Top – %
 (ISO Standard)
	  	55.8	  	57.0	 	N/A
				
	 Color (a*)
 Color (b*)
	  	-0.5 2.2
	  	0.0 3.2
	 	0.5 4.2

				
	 Opacity – Top (%)
	  	92.3	  	94.5	 	N/A

  

			
	Core Type:	  	Customer specified type
	Roll Width:	  	+/- 1/16”
	Roll Diameter:	  	+1/4” -3/4”
	Splices:	  	Limit 2 per roll
		  	No splices within 1” of top of roll (2” roll diameter)

 In addition, with respect to the following items, Newsprint will be deemed to conform with the
quality specifications set forth below if such Newsprint is delivered to Purchaser consistent in all material respects with the industry standards applicable to the following items: 
  

			
	Bar Codes:	  	Printed clearly, no smudges or scratches (TAPPI, IFRA or other)
	Wrapped Rolls:	  	Roll packages are clean and intact
		  	Roll labels are clean and legible
		  	Label stencils are readable by scanners
	Other:	  	Loaded per safety and customer requirements
		  	Appropriate dunnage utilized
		  	Seals applied to secure closed doors
		  	Correct bill of lading issued
		  	Customer Paper Test Analysis provided, if required by customer

 Schedule C-6 
 Newberg Mill – 30# STANDARD (48.8 g/m2
) Quality Specifications 
 PHYSICAL AND OPTICAL CHARACTERISTIC SPECIFICATIONS 

 FOR NEWSPRINT 
 Tests @ 48%-52% Relative Humidity and 71o- 76oF 
 (Based on Reel Averages – Not Single Position Tests)

 Newsprint will be deemed to conform to the quality specifications set forth below if such Newsprint is delivered to Purchaser within the
following limits and ranges: 
  

							
	 	  	MIN
REJECT
LIMIT	  	TARGET
(Reel Avg.)	 	MAX
REJECT
LIMIT
	 Basis Weight
 (lbs/3000 ft2)
	  	29.0	  	30.0 (48.8 g/m2)
	 	31.0
				
	 Moisture (%)
	  	6.5	  	9.2	 	10.0
				
	 Brightness Top – %
 (ISO Standard)
	  	55.8	  	57.0	 	N/A
				
	 Color (a*)
 Color (b*)
	  	-0.5 2.2
	  	0.0 3.2
	 	0.5 4.2

				
	 Opacity – Top (%)
	  	92.9	  	94.5	 	N/A

  

			
	Core Type:	  	Customer specified type
	Roll Width:	  	+/- 1/16”
	Roll Diameter:	  	+1/4” -3/4”
	Splices:	  	Limit 2 per roll
		  	No splices within 1” of top of roll (2” roll diameter)

 In addition, with respect to the following items, Newsprint will be deemed to conform to the
quality specifications set forth below if such Newsprint is delivered to Purchaser consistent in all material respects with the industry standards applicable to the following items: 
  

			
	Bar Codes:	  	Printed clearly, no smudges or scratches (TAPPI, IFRA or other)
	Wrapped Rolls:	  	Roll packages are clean and intact
		  	Roll labels are clean and legible
		  	Label stencils are readable by scanners
	Other:	  	Loaded per safety and customer requirements
		  	Appropriate dunnage utilized
		  	Seals applied to secure closed doors
		  	Correct bill of lading issued
		  	Customer Paper Test Analysis provided, if required by customerForm of Standard Option Award

 Exhibit 10.01c 
 Form of Standard OPTION AWARD 
 UNDER THE 
 2002 PRAXAIR, INC. 
 LONG TERM
INCENTIVE PLAN 
 This Award, made as of the          day of
                         (the “Grant Date”) by PRAXAIR, INC., a Delaware corporation, having an office at
39 Old Ridgebury Road, Danbury, Connecticut 06810-5113 (hereinafter called the “Corporation”). 
 W I T N E S S E T H: 
 The Corporation hereby grants to
                         (hereinafter called the “Participant”), as of the Grant Date, a non-qualified
stock option to purchase                      shares of the common stock of the Corporation (par value of $.01 per share) at
$             per share upon the following terms and conditions: 
 1.
Vesting. Except as otherwise provided in this Award and subject to the provisions of paragraph 3, this option may be exercised only on or after
                 [insert time vesting schedule or insert the terms of any performance-based vesting, including without limitation, vesting based upon the
Corporation’s achievement of certain financial goals, such as earnings per share, total shareholder return, net income, revenue or other criteria] [in no event less than three years following the date of grant, provided that the option may
partially vest after no less than one year so long as the entire grant does not vest fully until at least three years have elapsed from the date of grant]. The option may be exercised only in a whole number of shares. In the event that the option is
not evenly divisible by three, the remaining amount shall be added to the last vesting period. Notwithstanding the foregoing, the entire option shall become immediately vested and exercisable upon the occurrence of either the Participant’s
death or a Change in Control. 
 2. Expiration. Except as otherwise provided herein, this option shall expire on the
tenth anniversary of the Grant Date. 
 3. Exercisability. 
 (a) This option shall be exercisable by the Participant only while the Participant is in active employment with the Corporation or a Subsidiary or
Affiliate of the Corporation and shall be immediately forfeited upon the effective date of the Participant’s termination of employment with the Corporation or a Subsidiary or Affiliate of the Corporation, except that this option shall continue
to be exercisable: 
 (i) at any time prior to its expiration date in the case of the Participant’s Disability or Retirement;
provided, however, that following the Participant’s Disability or Retirement, this option shall only become vested and exercisable in accordance with paragraph 1; and provided further, that in the event of the Participant’s
Retirement prior to [one year from the date of grant], this option shall never become vested and exercisable and shall be immediately forfeited upon the effective date of the Participant’s Retirement; 
 (ii) during a three-year period commencing on the date of the Participant’s termination of employment by the Corporation or a Subsidiary or
Affiliate of the Corporation other than for cause provided, however, that following such termination of the Participant’s employment other than for cause, this option shall only become vested and exercisable in accordance with paragraph
1 above; and provided further, that, except as otherwise determined by the Corporation’s Chief Executive Officer or his designee, in the event of the Participant’s termination of employment by the Corporation or a Subsidiary or
Affiliate of the Corporation other than for cause prior to [one year from the date of grant], this option shall never become vested and exercisable and shall be immediately forfeited upon the effective date of such termination of the
Participant’s employment; 
  

 Page 1 

 (iii) during a three-year period commencing on the date of the Participant’s death; 
 (iv) during a three-year period commencing on the date of termination of the Participant’s employment, by the Participant or by the Corporation or a
Subsidiary or Affiliate of the Corporation, other than for cause, within two years after a Change in Control, or 
 (v) otherwise as the
Committee may determine, if the Committee decides that it is in the best interests of the Corporation to permit individual exceptions. 
 (b)
In no event may this option be exercised on or after its expiration date. 
 (c) An individual who is employed by a Subsidiary or Affiliate
of the Corporation shall be deemed to have terminated employment for purposes of this Award at such time as the Corporation and its Subsidiaries own, either directly or indirectly, less than 50% of the employing Subsidiary’s or Affiliate’s
total financial interests or combined voting power. 
 4. Transferability. This option is not transferable other than
(a) in the event of the Participant’s death, in which case this option shall be transferred pursuant to the beneficiary designation then on file with the Corporation, or, in the absence of such a beneficiary designation, by will or the
laws of descent and distribution, or (b) in the event of a beneficiary’s or distributee’s death, this option shall be transferred to his/her estate and may be exercised only by the executor or administrator of such estate. In either
of the foregoing events, this option may be exercised by the executor or administrator of the Participant’s estate, by the Participant’s beneficiary or distributee(s), or by the executor or administrator of the beneficiary’s or
distributee’s estate, as applicable, within the time limitations provided in paragraphs 1, 2 and 3 hereof. 
 5. Exercise of
Option. 
 (a) Notice of Exercise. This option may be exercised at the office of the Corporation in Danbury, Connecticut (or
at such other location as determined by the Corporation) with respect to a part or all of the shares covered by the option and then exercisable by giving notice to the Corporation (or its designee as communicated from time to time) of the exercise
of the option. 
 (b) Exercise Price Payment. The option price for the shares for which this option is exercised shall be paid by the
exerciser not later than ten business days after the date of exercise, (i) in cash, (ii) in whole shares of common stock of the Corporation owned by the exerciser prior to exercising the option, (iii) by having the Corporation
withhold shares that would otherwise be delivered to the exerciser pursuant to the exercise of the option, or (iv) in a combination of cash and delivery of whole shares, or cash and the withholding of shares. The value of any share of common
stock delivered or withheld in payment of the option price shall be its Market Price on the date the option is exercised. Notwithstanding the foregoing, the Corporation may refuse to allow payment by any method other than cash if the Corporation
determines that allowing such payment would result in the imposition of variable accounting on the Corporation. 
 (c) Taxes. To
enable the Corporation to meet any applicable federal, state or local withholding tax requirements arising as a result of the exercise of the option, the exerciser shall pay the Corporation the amount of tax to be withheld, if any, (i) in cash,
(ii) in whole shares of common stock of the Corporation owned by the exerciser prior to exercising the option, (iii) for exercises by the Participant only, by having the Corporation withhold shares that would otherwise be delivered to the
Participant pursuant to the exercise of the option (but only to cover the minimum legally required tax withholding), or (iv) in a combination of cash and a delivery of whole shares. The value of any share of common stock so delivered or
withheld shall be the Market Price on the date used to determine the amount of tax to be withheld. The Corporation reserves the right to (i) disapprove a Participant’s election to utilize any of the alternatives under this paragraph (c),
and (ii) to delay the completion of any exercise of this option until the applicable withholding tax has been paid. 
 (d) Delivery
of Shares. Upon the exercise of an option with respect to a part or all of the shares in the manner and within the time herein provided, the Corporation shall issue and deliver to the exerciser, or to the exerciser’s dividend reinvestment
account, the number of shares of its common stock with respect to which the option was exercised. However, if an option is exercised after the death of the Participant, 

  

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beneficiary or distributee, then the Corporation shall have the right, in lieu of issuing and delivering shares of stock, of returning the option payment to
the exerciser and paying to such person the amount by which the Market Price on the date of exercise exceeds the option price with respect to the number of shares for which the option was exercised. 
 6. Terms and Conditions. This option is awarded pursuant to the Plan and is subject to all of the terms and conditions of the Plan
which terms and conditions shall control in the event of any conflict with this Award. 
 7. Applicable Law. This Award
shall be interpreted and construed in accordance with the laws of the State of Connecticut. 
 8. Definitions. 

 (a) “Change in Control” means a change in control of the Corporation as defined in the Plan. 
 (b) “Committee” means the Compensation and Management Development Committee of the Board of Directors of the Corporation or any other Committee
which such Board of Directors appoints to administer the Plan. 
 (c) “Corporation” means Praxair, Inc. 
 (d) “Disability” means a Participant’s inability to engage in any substantial gainful activity because of any medically determinable
physical or mental impairment which can be expected to result in death or which has lasted, or can be expected to last, for a continuous period of six (6) months or longer. 
 (e) “Market Price” means the mean of the high and low prices of the common stock of the Corporation as reported in the New York Stock Exchange
Composite Transactions on the specified date (or on the next preceding day such stock was traded on a stock exchange included in the New York Stock Exchange—Composite Transactions if it was not traded on any such exchange on the specified
date). 
 (f) “Plan” means the 2002 Praxair, Inc. Long Term Incentive Plan, as amended and restated as of February 24, 2004,
and as further amended from time to time. 
 (g) “Retirement” means termination of employment with the Corporation or a Subsidiary
or Affiliate, other than for cause, with the right under the Corporation’s Retirement Program to receive a non-actuarially reduced pension immediately upon separation from service. Provided, however, that if the Participant is employed by a
foreign Affiliate of the Corporation and/or is not eligible to participate in the Corporation’s Retirement Program, Retirement means termination of employment with the Corporation or a Subsidiary or Affiliate, other than for cause, after
(i) attaining age 65, (ii) attaining age 62 and completing at least 10 years of employment with the Corporation, or (iii) having accumulated 85 points, where each year of the Participant’s age and each year of employment with the
Corporation count for one point. 
 9. Notwithstanding any other provision of this Award, the Committee may, in its sole discretion, cancel,
rescind, suspend, withhold, or otherwise limit or restrict this Award, and/or recover any gains realized by the Participant in connection with this Award, in the event of any actions by the Participant determined by the Committee to
(a) constitute a conflict of interest with the Corporation, (b) be prejudicial to the Corporation’s interests, or (c) violate any non-compete agreement or obligation of the Participant to the Corporation, any confidentiality
agreement or obligation of the Participant to the Corporation, the Corporation’s applicable policies, or the Participant’s terms and conditions of employment. 
 IN WITNESS WHEREOF, the Corporation has caused this instrument to be executed by its proper officer hereunto duly authorized, as of the day and year first hereinabove written. 
  

			
	 PRAXAIR, INC.

		
	 By:
	 	
		 	  

  

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