Document:

Form of A.H. Belo Corporation Savings Plan

 Exhibit 10.6 
 A. H. BELO SAVINGS PLAN 
 Effective February     , 2008 

 A. H. BELO SAVINGS PLAN 
 A. H. Belo Corporation, a Delaware corporation, adopts the A. H. Belo Savings Plan, effective as of
February     , 2008. The Plan is a profit sharing plan with a cash or deferred arrangement intended to qualify under Code section 401(a) and to meet the requirements of Code section 401(k), including
the alternative methods of meeting the nondiscrimination requirements set forth in Code section 401(k)(13) and Code section 401(m)(12). 
 Effective as of February     , 2008, the account balances of each Participant under the Belo Savings Plan were transferred to the Plan in anticipation of the distribution on
February     , 2008, by Belo Corp. to its shareholders of all of the issued and outstanding common stock of A. H. Belo Corporation. 
 Words and phrases with initial capital letters used throughout the Plan are defined in Article 1. 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
			
	 ARTICLE 1
	  	 DEFINITIONS
	  	1
			
	 ARTICLE 2
	  	 PARTICIPATION
	  	7
			
	 ARTICLE 3
	  	 CONTRIBUTIONS
	  	10
			
	 ARTICLE 4
	  	 INVESTMENT OF CONTRIBUTIONS
	  	14
			
	 ARTICLE 5
	  	 ALLOCATIONS TO PARTICIPANTS’ ACCOUNTS
	  	16
			
	 ARTICLE 6
	  	 VESTING
	  	18
			
	 ARTICLE 7
	  	 DISTRIBUTIONS TO PARTICIPANTS
	  	20
			
	 ARTICLE 8
	  	 DISTRIBUTIONS TO BENEFICIARIES
	  	26
			
	 ARTICLE 9
	  	 PROVISIONS REGARDING THE A. H. BELO STOCK FUND AND THE BELO STOCK FUND
	  	27
			
	 ARTICLE 10
	  	 ADMINISTRATION OF THE PLAN AND TRUST AGREEMENT
	  	28
			
	 ARTICLE 11
	  	 LIMITATIONS ON CONTRIBUTIONS AND ALLOCATIONS TO PARTICIPANTS’ ACCOUNTS
	  	32
			
	 ARTICLE 12
	  	 RESTRICTIONS ON DISTRIBUTIONS TO PARTICIPANTS AND BENEFICIARIES
	  	36
			
	 ARTICLE 13
	  	 TOP-HEAVY PROVISIONS
	  	41
			
	 ARTICLE 14
	  	 PARTICIPATION BY CONTROLLED GROUP MEMBERS
	  	45
			
	 ARTICLE 15
	  	 AMENDMENT OF THE PLAN
	  	46
			
	 ARTICLE 16
	  	TERMINATION, PARTIAL TERMINATION AND COMPLETE DISCONTINUANCE OF CONTRIBUTIONS	  	47
			
	 ARTICLE 17
	  	 MISCELLANEOUS
	  	48

  

 (i) 

 ARTICLE 1 
 DEFINITIONS 
 1.1 Account means the records, including subaccounts, maintained by the
Committee in the manner provided in Article 5 to determine the interest of each Participant in the assets of the Plan and may refer to any or all of the Participant’s Deferral Contribution Account, Matching Contribution Account, Profit Sharing
Account and Rollover Account. 
 1.2 A. H. Belo Stock Fund means the investment fund established under Section 4.1, the
assets of which consist exclusively of shares of Series A common stock, par value $.01 per share, of the Company. 
 1.3 Alternate
Payee means any spouse, former spouse, child or other dependent of a Participant who is recognized by a domestic relations order within the meaning of Code section 414(p) as having the right to receive all or a portion of the
Participant’s Account. 
 1.4 Belo Corp. means Belo Corp., a Delaware corporation. 
 1.5 Belo Savings Plan means the 401(k) plan sponsored by Belo Corp. on the effective date of the Plan. 
 1.6 Belo Stock Fund means the investment fund established under Section 4.1, the assets of which consist exclusively of shares of Company
Stock. 
 1.7 Beneficiary means the one or more persons or entities entitled to receive distribution of a Participant’s interest
in the Plan in the event of his death as provided in Article 8. 
 1.8 Board of Directors or Board means the Board of Directors
of the Company. 
 1.9 Code means the Internal Revenue Code of 1986, as amended from time to time. 
 1.10 Committee or Administrative Committee means the Committee appointed under Article 10. 
 1.11 Company means A. H. Belo Corporation, a Delaware corporation. 
 1.12 Company Stock means the Series A Common Stock, par value $.01 per share, of the Company. 
 1.13 Compensation means the base pay, overtime pay, shift differential pay, premium pay,
bonuses and commissions paid to an Employee by the Participating Employers for services performed for the Participating Employers, excluding (i) any awards (other than annual incentive compensation awards), whether paid in cash, Company Stock
or any other medium, under the Belo 2004 Executive Compensation Plan or any other long term incentive compensation plan; (ii) any payment made after the later of (A) 2 1/2 months after the Employee’s termination of employment or (B) the end of the Plan Year that includes the Employee’s date of termination of 

 
employment; (iii) any payment made in connection with or after the Employee’s termination of employment that would not have been made if the
Employee had continued in employment, such as severance pay or any other amount that would not qualify as compensation under Section 1.415(c)-2(e)(3) of the Treasury Regulations; and (iv) any other form of remuneration. In addition,
Compensation includes any contributions made by the Participating Employers on behalf of an Employee pursuant to a deferral election under any employee benefit plan containing a cash or deferred arrangement under Code section 401(k) and
any amounts that would have been received as cash but for an election to receive benefits under a cafeteria plan meeting the requirements of Code section 125. The annual Compensation of an Employee taken into account for any purpose will not
exceed $230,000 for any Plan Year beginning after December 31, 2007, as adjusted for cost-of-living increases in accordance with Code section 401(a)(17). The annual Compensation of an Employee who is covered by a collective bargaining
agreement will also be subject to any applicable limit on the amount of such Compensation that may be taken into account for purposes of the Plan. 
 1.14 Controlled Group means the Company and all other corporations, trades and businesses, the employees of which, together with employees of the Company, are required by the first sentence of subsection (b), by
subsection (c), by subsection (m) or by subsection (o) of Code section 414 to be treated as if they were employed by a single employer. 
 1.15 Controlled Group Member means each corporation or unincorporated trade or business that is or was a member of the Controlled Group, but only during such period as it is or was such a member. 
 1.16 Deferral Contribution means the amount of a Participant’s Compensation that he elects to have contributed to the Plan by the
Participating Employers rather than paid to him directly in cash. 
 1.17 Deferral Contribution Account means the Account established
for each Participant, the balance of which is attributable to (i) the Participant’s Deferral Contributions and earnings and losses of the Trust Fund with respect to such contributions and (ii) the balance of the Participant’s
deferral contribution account under the Belo Savings Plan transferred to the Plan. 
 1.18 Distribution means the distribution by Belo
Corp. to its shareholders all of the outstanding shares of Series A common stock and Series B common stock of the Company. 
 1.19
Distribution Date means the date on which Belo Corp. effects the Distribution. 
 1.20 Effective Date means
February     , 2008. 
 1.21 Employee means any individual who is: (i) employed by any Controlled
Group Member if their relationship is, for federal income tax purposes, that of employer and employee, or (ii) “a leased employee” of a Controlled Group Member within the meaning of Code section 414(n)(2) but only for
purposes of the requirements of Code section 414(n)(3). 
 For purposes of this Section 1.21, a “leased
employee” means any person who, pursuant to an agreement between a Controlled Group Member and any other person (“leasing 

  

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organization”) has performed services for the Controlled Group Member on a substantially full-time basis for a period of at least one year and such
services are performed under the primary direction or control of the Controlled Group Member. Contributions or benefits provided a leased employee by the leasing organization which are attributable to services performed for a Controlled Group Member
will be treated as provided by the Controlled Group Member. A leased employee will not be considered an Employee of a Controlled Group Member, however, if (a) leased employees do not constitute more than 20 percent of the Controlled Group
Member’s nonhighly compensated work force (within the meaning of Code section 414(n)(5)(C)(ii)), and (b) such leased employee is covered by a money purchase plan maintained by the leasing organization that provides (i) a
nonintegrated employer contribution rate of at least 10 percent of Compensation, (ii) immediate participation and (iii) full and immediate vesting. 
 1.22 ERISA means the Employee Retirement Income Security Act of 1974, as amended from time to time. 
 1.23 Hour of Service means each hour credited in accordance with the following rules: 
 (a) Credit for
Services Performed. An Employee will be credited with one Hour of Service for each hour for which he is paid, or entitled to payment, by one or more Controlled Group Members for the performance of duties. 
 (b) Credit for Periods in Which No Services Are Performed. An Employee will be credited with one Hour of Service for each hour for
which he is paid, or entitled to payment, by one or more Controlled Group Members on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated); except that (i) no more
than 501 Hours of Service will be credited under this Section 1.23 (b) to an Employee on account of any single continuous period during which he performs no duties (whether or not such period occurs in a single Plan Year), (ii) an hour for
which an Employee is directly or indirectly paid, or entitled to payment, on account of a period during which no duties are performed will not be credited to the Employee if the payment is made or due under a plan maintained solely for the purpose
of complying with applicable workers’ compensation or unemployment compensation or disability insurance laws, and (iii) Hours of Service will not be credited for a payment which solely reimburses an Employee for medical or medically
related expenses incurred by the Employee. For purposes of this Section 1.23(b), an Employee will be credited with Hours of Service on the basis of his regularly scheduled working hours per week (or per day if he is paid on a daily
basis) or, in the case of an Employee without a regular work schedule, on the basis of 40 Hours of Service per week (or 8 Hours of Service per day if he is paid on a daily basis) for each week (or day) during the period of time during
which no duties are performed; except that an Employee will not be credited with a greater number of Hours of Service for a period during which no duties are performed than the number of hours for which he is regularly scheduled for the performance
of duties during the period or, in the case of an Employee without a regular work schedule, on the basis of 40 Hours of Service per week (or 8 Hours of Service per day if he is paid on a daily basis). 
  

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 (c) Credit for Back Pay. An Employee will be credited with one Hour
of Service for each hour for which back pay, irrespective of mitigation of damages, has been either awarded or agreed to by one or more Controlled Group Members; except that an hour will not be credited under both Section 1.23(a) or Section 1.23(b),
as the case may be, and this Section 1.23(c), and Hours of Service credited under this Section 1.23(c) with respect to periods described in Section 1.23(b) will be subject to the limitations and provisions under Section 1.23(b). 
 (d) Credit for Certain Absences. If an Employee is absent from work on or after the Effective Date for any period by reason of the
pregnancy of the Employee, by reason of the birth of a child of the Employee, by reason of the placement of a child with the Employee, or for purposes of caring for a child for a period beginning immediately following the birth or placement of that
child, the Employee will be credited with Hours of Service (solely for the purpose of determining whether he has a One Year Break in Service under the Plan) equal to (i) the number of Hours of Service which otherwise would normally have been
credited to him but for his absence, or (ii) if the number of Hours of Service under clause (i) is not determinable, 8 Hours of Service per normal workday of the absence, provided, however, that the total number of Hours of Service credited to an
Employee under this Section 1.23(d) by reason of any pregnancy, birth or placement will not exceed 501 Hours of Service. Such Hours of Service will be credited (i) only in the one-year computation period (determined under Section 1.38) in which the
absence from work begins, if the Employee would be prevented from incurring a One Year Break in Service in such period solely because the period of absence is treated as Hours of Service pursuant to this Section 1.23(d), or (ii) in any other case,
in the immediately following one-year computation period. Hours of Service will not be credited to an Employee under this Section 1.23(d) unless the Employee furnishes to the Committee such timely information as the Committee may reasonably require
to establish that the Employee’s absence from work is for a reason specified in this Section 1.23(d) and the number of days for which there was such an absence. 
 (e) Manner of Counting Hours. No hour will be counted more than once or be counted as more than one Hour of Service even though the
Employee may receive more than straight-time pay for it. With respect to Employees whose compensation is not determined on the basis of certain amounts for each hour worked during a given period and for whom hours are not required to be counted and
recorded by any federal law (other than ERISA), Hours of Service will be credited on the basis of 10 Hours of Service daily, 45 Hours of Service weekly, 95 Hours of Service semi-monthly, or 190 Hours of Service monthly, if the Employee’s
compensation is determined on a daily, weekly, semi-monthly or monthly basis, respectively, for each period in which the Employee would be credited with at least one Hour of Service under this section. Except as otherwise provided in Section
1.23(d), Hours of Service will be credited to eligibility and vesting computation periods in accordance with the provisions of 29 C.F.R. § 2530.200b-2, which provisions are incorporated in this Plan by reference. 
 1.24 Investment Committee means the A. H. Belo Benefits Investment Committee. 
 1.25 Matching Contribution Account means the Account established for each Participant, the balance of which is attributable to (i) Participating
Employer matching contributions made pursuant to Article 3 and earnings and losses of the Trust Fund with respect to such contributions and (ii) the balance of the Participant’s matching contribution account under the Belo Savings Plan
transferred to the Plan. 
  

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 1.26 One Year Break in Service means a period of at least 12 consecutive months in which an
Employee is absent from service. A One Year Break in Service will begin on the Employee’s termination date (as defined in Section 1.38) and will end on the day on which the Employee again performs an Hour of Service for a Controlled
Group Member. 
 If an Employee who is absent from work with a Controlled Group Member because of (i) the Employee’s
pregnancy, (ii) the birth of the Employee’s child, (iii) the placement of a child with the Employee in connection with the Employee’s adoption of the child, or (iv) caring for such child immediately following such birth or
placement, will be absent for such reason beyond the first anniversary of the first date of his absence, his period of absence, solely for purposes of preventing a One Year Break in Service, will commence on the second anniversary of the first day
of his absence from work. The period of absence from work between the first and second anniversaries of the first date of his absence from work will not be taken into account in determining whether the Employee has completed a Year of Service. The
provisions of this paragraph will not apply to an Employee unless the Employee furnishes to the Committee such timely information that the Committee may reasonably require to establish (i) that the absence from work is for one of the reasons
specified in this paragraph and (ii) the number of days for which there was such an absence. 
 1.27 Participant means an
Employee or former Employee who has met the applicable eligibility requirements of Article 2 and who has not yet received a distribution of the entire amount of his vested interest in the Plan. In addition, the term “Participant” will
include (i) any other Employee of a Participating Employer who makes a Rollover Contribution, provided, however, that such Employee will not be eligible for Participating Employer matching or profit sharing contributions until he has met the
applicable eligibility requirements of Article 2; and (ii) a participant in the Belo Savings Plan on February     , 2008, whose account balances were transferred to the Plan on such date. 
 1.28 Participating Employer means each Controlled Group Member set forth on Appendix A and any other Controlled Group Member or organizational
unit of the Company or a Controlled Group Member which is designated as a Participating Employer under the Plan by the Board of Directors. 
 1.29 Plan means the A. H. Belo Savings Plan set forth herein, as amended from time to time. 
 1.30 Plan Year
means the period with respect to which the records of the Plan are maintained, which will be the 12-month period beginning on January 1 and ending on December 31. 
 1.31 Profit Sharing Account means the Account established for each Participant, the balance of which is attributable to (i) Participating
Employer profit sharing contributions made pursuant to Article 3 and earnings and losses of the Trust Fund with respect to such contributions and (ii) the balance of the Participant’s profit sharing account under the Belo Savings Plan
transferred to the Plan. 
  

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 1.32 Qualified Plan means an employee benefit plan that is intended to qualify under Code
section 401(a). 
 1.33 Rollover Account means the Account established for each Participant, the balance of which is attributable
to (i) the Participant’s rollover contributions made pursuant to Article 3 and earnings and losses of the Trust Fund with respect to such contributions and (ii) the balance of the Participant’s rollover account under the Belo
Savings Plan transferred to the Plan. 
 1.34 Trust Agreement means the agreement or agreements executed by the Company and the
Trustee which establishes a trust fund to provide for the investment, reinvestment, administration and distribution of contributions made under the Plan and the earnings thereon, as amended from time to time. 
 1.35 Trust Fund means the assets of the Plan held by the Trustee pursuant to the Trust Agreement. 
 1.36 Trustee means the one or more individuals or organizations who have entered into the Trust Agreement as Trustee, and any duly appointed
successor. 
 1.37 Valuation Date means the date with respect to which the Trustee determines the fair market value of the assets
comprising the Trust Fund or any portion thereof. The assets of the Trust Fund will be valued as of the close of business on each day on which the New York Stock Exchange is open for trading. 
 1.38 Year of Service means each period of 365 days (determined by aggregating periods of service that are not consecutive) beginning on the
date an Employee is first credited with an Hour of Service (or is again credited with an Hour of Service following his reemployment) and ending on the earlier of (i) the date on which the Employee quits, retires, is discharged or dies or
(ii) the first anniversary of the date on which the Employee is absent from service with a Controlled Group Member for any other reason, such as vacation, holiday, sickness, disability, leave of absence or layoff (the earlier of such dates is
hereafter referred to as the Employee’s “termination date”). An Employee’s period of service for purposes of determining a Year of Service will include each period in which the Employee is absent from service for less than 12
months (measured from the Employee’s termination date) and any periods during which he is in the service of the armed forces of the United States and his reemployment rights are guaranteed by law, provided he returns to employment with a
Controlled Group Member within the time such rights are guaranteed. 
 In addition, an Employee’s Years of Service will
include the service credited to the Employee under the Belo Savings Plan, provided the Employee was employed by Belo Corp. or a subsidiary of Belo Corp. immediately prior to the Distribution Date and either (i) was employed by a Controlled
Group Member on the Distribution Date or (ii) transfers employment directly from Belo Corp. or a subsidiary of Belo Corp. to employment with a Controlled Group Member without any intervening employment by an employer unrelated to Belo Corp. or
the Company. 
  

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 ARTICLE 2 
 PARTICIPATION 
 2.1 Eligibility to Participate. 
 (a) Deferral Contributions. Each Employee will become a Participant and may authorize Deferral Contributions to the Plan as of the
first payroll period beginning on or after the later of the Effective Date or the date on which the Employee first completes an Hour of Service, or as soon as administratively practicable thereafter, if he is then employed by a Participating
Employer. An Employee who becomes a Participant will not be eligible for Participating Employer matching contributions or profit sharing contributions until he satisfies the eligibility requirements of Section 2.1(b). 
 (b) Matching and Profit Sharing Contributions. Each Employee will become a Participant with respect to Participating Employer
matching contributions and profit sharing contributions as of the first payroll period beginning on or after the later of the Effective Date or the date he has completed a Year of Service, or as soon as administratively practicable thereafter, if he
is then employed by a Participating Employer. 
 2.2 Exclusions from Participation. 
 (a) Ineligible Employees. An Employee who is otherwise eligible to participate in the Plan will not become or continue as an active
Participant if (i) he is covered by a collective bargaining agreement that does not expressly provide for participation in the Plan, provided that the representative of the Employees with whom the collective bargaining agreement is executed has
had an opportunity to bargain concerning retirement benefits for those Employees; (ii) he is represented by a bargaining representative but is not covered by a collective bargaining agreement, unless the Company and the bargaining
representative agree in writing that the Employee will be eligible to participate in the Plan; (iii) he is a nonresident alien who receives no earned income (within the meaning of Code section 911(d)(2)) from a Participating Employer
which constitutes income from sources within the United States (within the meaning of Code section 861(a)(3)); (iv) he is a leased employee required to be treated as an Employee under Code section 414(n) or otherwise performs
services under an arrangement with an employment agency, leasing organization or any other person or entity that provides personnel to one or more Controlled Group Members; (v) he is classified by a Participating Employer as an independent
contractor whose compensation for services is reported on a form other than Form W-2 or any successor form for reporting wages paid to employees; (vi) he is employed by a Controlled Group Member or an organizational unit thereof that has not
been designated as a Participating Employer by the Board; or (vii) he is then on an approved leave of absence without pay or in the service of the armed forces of the United States. An individual described in clause (iv) or (v) of
this Section 2.2(a) who is subsequently determined to be a common law employee of a Participating Employer will not be eligible to participate in the Plan during any period prior to the date on which such determination is actually and finally
made. 
 (b) Exclusion after Participation. A Participant who becomes ineligible under Section 2.2(a) may not
elect to have Deferral Contributions made or continued to the Plan and will not be eligible to receive an allocation of Participating Employer matching or profit sharing contributions. 
  

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 (c) Participation after Exclusion. An Employee or Participant who is excluded from
active participation will be eligible to participate in the Plan on the first day he is no longer described in Section 2.2(a) and is credited with one or more Hours of Service by a Participating Employer, provided that he has otherwise met the
requirements of Section 2.1. This Section 2.2(c) will apply to an Employee who returns from an approved leave of absence or from military leave and who would otherwise be treated as a new Employee under Section 2.3 only if he returns
to employment with a Controlled Group Member immediately following the expiration of the leave of absence or, in the case of an Employee on military leave, during the period in which reemployment rights are guaranteed by law. 
 2.3 Reemployment Provisions. If an Employee terminates employment before satisfying the eligibility requirements set forth in Section 2.1(b)
with respect to Participating Employer matching contributions and profit sharing contributions and is reemployed by a Controlled Group Member before an absence from employment of 12 months, he will become a Participant with respect to such matching
and profit sharing contributions on the later of the date initially determined under Section 2.1(b) or the date he is credited with one or more Hours of Service by a Participating Employer after reemployment; but if he is reemployed by a
Controlled Group Member after an absence of 12 months or more, he will be treated as a new Employee and will be eligible for Participating Employer matching contributions and profit sharing contributions upon satisfying the eligibility requirements
set forth in Section 2.1(b) after his reemployment. If an Employee terminates employment after satisfying the eligibility requirements set forth in Section 2.1(b) with respect to Participating Employer matching contributions and profit
sharing contributions, he will become a Participant with respect to such matching and profit sharing contributions on the date he is credited with one or more Hours of Service by a Participating Employer. 
 2.4 Veterans’ Reemployment Rights. The provisions of this Section 2.4 will apply to any Employee who is reemployed by a Controlled Group
Member following a period of Qualified Military Service. 
 (a) Service Credit. An Employee who returns to employment
with a Controlled Group Member following a period of Qualified Military Service (as hereinafter defined) will not be treated as having incurred any One Year Breaks in Service because of his period of Qualified Military Service. In addition,
each period of Qualified Military Service will, upon reemployment with a Controlled Group Member, be deemed to be employment with such Controlled Group Member for purposes of the Plan. 
 (b) Compensation. An Employee described in Section 2.4(a) will be treated for Plan purposes as having received compensation
from the Controlled Group Member during each period of Qualified Military Service equal to (i) the compensation the Employee would have received during such period of Qualified Military Service if he were not in Qualified Military Service,
based on the rate of pay the Employee would have received from the Controlled Group Member but for his absence during the period of Qualified Military Service or (ii) if the compensation the Employee would have received during his period of
Qualified 

  

 8 

 
Military Service is not reasonably certain, the Employee’s average compensation from the employer during the 12-month period immediately preceding the
Qualified Military Service, or if shorter, during the period of employment immediately preceding the Qualified Military Service. 
 (c) Qualified Military Service. For purposes of the Plan, the term “Qualified Military Service” means service in the uniformed services (within the meaning of the Uniformed Services Employment and Reemployment Rights Act
(“USERRA”), provided the Employee is entitled under USERRA to reemployment rights with a Controlled Group Member and the Employee returns to employment with the Controlled Group Member within the period in which such reemployment rights
are guaranteed. 
 (d) Make-Up Contributions. Pursuant to procedures adopted from time to time by the Committee, an
Employee described in Section 2.4(a) may elect additional Deferral Contributions and will receive an allocation of additional Participating Employer matching contributions and, if applicable, profit sharing contributions, for the period of his
Qualified Military Service. Such additional Deferral Contributions and Participating Employer matching contributions may be made during the period that begins on the date of the Employee’s reemployment and extends for the lesser of five years
or the duration of the Employee’s Qualified Military Service multiplied by three. An Employee’s Deferral Contributions and allocation of Participating Employer matching contributions made pursuant to this Section 2.4 will be subject
to the limitations of the Plan and the Code applicable to the years of the Employee’s period of Qualified Military Service, except that the average deferral percentage and average contribution percentage limitations described in Code
section 401(k) and Code section 401(m), respectively, will not be recalculated for such years and, if applicable, will be determined for the Plan Years in which the make-up Deferral Contributions and Participating Employer matching
contributions are made without regard to such make-up Deferral Contributions and Participating Employer matching contributions. 
 (e) Loan Repayments. An Employee may elect to suspend the repayment of a Plan loan during a period of Qualified Military Service as permitted under Code section 414(u)(4) or may elect to continue loan repayments during such
period. 
  

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 ARTICLE 3 
 CONTRIBUTIONS 
 3.1 Elective Deferral Contributions. 
 (a) Amount of Deferral Contributions. A Participant may elect, in accordance with procedures established by the Committee from time
to time, (i) to have Deferral Contributions made to the Plan by the Participating Employers for any payroll period in an amount up to 100% of the Participant’s Compensation for the payroll period or (ii) to have no Deferral
Contributions made to the Plan by the Participating Employers. Any such election will be effective as soon as administratively practicable. Notwithstanding the foregoing, the Committee may reduce the amount of Deferral Contributions elected by a
Participant in order to permit a Participating Employer to withhold from the Participant’s Compensation (i) all taxes and other amounts the Participating Employer is required to withhold under applicable law and (ii) any other amounts
the Participant has elected to be withheld from his Compensation for any purpose, including without limitation, amounts to be withheld as contributions to Company-sponsored welfare benefit plans. 
 (b) Modification and Suspension of Deferral Contributions. A Participant may increase or decrease the amount of his Deferral
Contributions and may suspend his Deferral Contributions at any time during the Plan Year. A Participant who suspends his Deferral Contributions may again authorize Deferral Contributions to the Plan and such authorization will be effective as soon
as administratively practicable. If a Participant receives a distribution on account of hardship pursuant to Section 7.3, such Participant’s Deferral Contributions will automatically be suspended for a six-month period following the date
on which such Participant receives the hardship distribution. 
 (c) Catch-Up Deferral Contributions. A Participant who
has attained age 50 before the close of a Plan Year will be eligible to make catch-up Deferral Contributions in accordance with, and subject to the limitations of, Code section 414(v). Such catch-up Deferral Contributions will not be taken into
account for purposes of the provisions of the Plan implementing the required limitations of Code sections 402(g) and 415. 
 3.2
Automatic Deferral Contributions. 
 (a) Certain Terms Defined. For purposes of this Section 3.2, the
following terms have the meanings set forth below. 
 (i) Automatic Adjustment Date means April 1 of each Plan
Year beginning after December 31, 2008. 
 (ii) Automatic Enrollment Date means the enrollment date that is
determined by the Committee and communicated to the Participant, which enrollment date will be approximately 60 days after the Participant’s date of hire by a Participating Employer. 
  

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 (iii) Non-Electing Participant means a Participant who has not made an affirmative
election pursuant to Section 3.1 either to have Deferral Contributions made to the Plan by the Participating Employers or to have no Deferral Contributions made to the Plan by the Participating Employers. 
 (b) Amount of Automatic Deferral Contributions. 
 (i) Each Non-Electing Participant will be deemed to have elected to have Deferral Contributions made to the Plan by the Participating
Employers in an amount equal to 3% of Compensation effective as of the earliest practicable payroll period that begins after the Participant’s Automatic Enrollment Date. The Deferral Contributions of each Non-Electing Participant who has been
an Employee for at least six months as of an Automatic Adjustment Date will be increased by 1% of Compensation effective as of the first payroll period beginning after such Automatic Adjustment Date until the Participant’s Deferral
Contributions to the Plan are in an amount equal to 6% of Compensation. Thereafter, no further adjustments to the Participant’s rate of Deferral Contributions will be made in the absence of an affirmative election by the Participant.

 (ii) If a Participant receives a distribution on account of hardship pursuant to Section 7.3, such Participant’s
Deferral Contributions will automatically be suspended for a six-month period following the date on which such Participant receives the hardship distribution. Upon resumption of the Participant’s Deferral Contributions, the Deferral
Contributions will be increased as provided in Section 3.2(b)(i) as of the next Automatic Adjustment Date. 
 (iii) A
Participant will cease to be a Non-Electing Participant for purposes of the Deferral Contributions described in Section 3.2(b)(i) when he makes an affirmative election pursuant to Section 3.1. 
 (iv) A Participant who terminates employment before completing 60 days of employment and prior to making an affirmative election pursuant
to Section 3.1 will be subject to the provisions of this Section 3.2 upon his rehire by a Participating Employer. Any other Participant who terminates employment and is rehired by a Participating Employer may participate in the Plan only
by making a deferral election pursuant to Section 3.1. 
 (c) No Refund of Automatic Deferral Contributions. If a
Participant makes an affirmative election pursuant to Section 3.1 at any time after his Automatic Enrollment Date or any Automatic Adjustment Date, the terms of the affirmative election will cancel the automatic Deferral Contributions for the
Participant under this Section 3.2 as soon as administratively practicable. However, the Deferral Contributions made to the Plan and allocated to his Account prior to his affirmative election becoming effective will not be distributed to the
Participant until he is entitled to a distribution under the provisions of Article 7. 
 (d) Notice to Participants.
The Committee will provide to each Participant a written notice of the Participant’s rights and obligations under this Section 3.2 and containing such other information as may be necessary to comply with the notice requirements of Code
section 401(k)(13). 
  

 11 

 3.3 Limitations on Deferral Contributions. The sum of a Participant’s Deferral Contributions
and his elective deferrals (within the meaning of Code section 402(g)(3)) under any other plans, contracts or arrangements of any Controlled Group Member will not exceed the dollar limitation contained in Code section 402(g) (as
such amount is adjusted for cost-of-living increases in the manner described in Code section 415(d)) for any taxable year of the Participant. A Participant’s Deferral Contributions will also be subject to the deferral percentage
limitation set forth in Section 11.4. In the event a Participant’s Deferral Contributions and other elective deferrals (whether or not under a plan, contract or arrangement of a Controlled Group Member) for any taxable year exceed the
foregoing dollar limitation, the excess allocated by the Participant to Deferral Contributions (adjusted for Trust Fund earnings and losses in the manner described in Section 11.4) may, in the discretion of the Committee, be distributed to the
Participant no later than April 15 following the close of such taxable year. The amount of Deferral Contributions distributed to a Participant for a Plan Year pursuant to this Section will be reduced by any excess Deferral Contributions
previously distributed to him pursuant to Section 11.4 for the same Plan Year. 
 3.4 Participating Employer Matching
Contributions. The provisions of this Section 3.4 will apply to only those Participants who have satisfied the eligibility requirements of Section 2.1(b). The Participating Employers will pay to the Trustee as a matching contribution
for each payroll period an amount equal to (i) 100% of each Participant’s Deferral Contributions for the payroll period to the extent that such Deferral Contributions do not exceed 1% of the Participant’s Compensation for the payroll
period and (ii) 70% of each Participant’s Deferral Contributions for the payroll period to the extent that such Deferral Contributions exceed 1% of the Participant’s Compensation but do not exceed 6% of the Participant’s
Compensation for the payroll period. For purposes of this Section 3.43.4, Deferral Contributions include catch-up Deferral Contributions described in Section 3.1(c). 
 3.5 Profit Sharing Contributions. The Participating Employers will pay to the Trustee as a profit sharing contribution for each payroll period an
amount equal to 2% of the Compensation for the payroll period of each Participant who is eligible to receive a matching contribution under Section 3.4 and who is employed by a Participating Employer on the last day of the payroll period. Each
Participating Employer may, in the discretion of its board of directors, make an additional, discretionary profit sharing contribution to the Plan for any payroll period or for any Plan Year in such amount as is determined by the Participating
Employer and is approved by the Compensation Committee of the Board of Directors of the Company. 
 3.6 Collectively Bargained
Employees. Notwithstanding the provisions of Section 3.4 and Section 3.5, the Participating Employers will not make a matching contribution or a profit sharing contribution for any Employee who is covered by collective bargaining
agreement unless and until the terms of such collective bargaining agreement, as amended or renewed from time to time, permit employer matching and profit sharing contributions to be made. In no event will the matching contribution or profit sharing
contribution made for such an Employee exceed the amount of matching contributions or profit sharing contributions permitted under such collective bargaining agreement. 
  

 12 

 3.7 Time of Payment. Deferral Contributions will be paid to the Trustee as soon as practicable
following the close of each payroll period. Participating Employer matching contributions will be paid to the Trustee as soon as practicable following the close of each calendar month during the Plan Year, and discretionary profit sharing
contributions may be paid to the Trustee on any date or dates selected by the Participating Employers, but in no event later than the time prescribed by law (including extensions) for filing the Participating Employer’s federal income tax
return for its tax year ending with or within the Plan Year. 
 3.8 Rollover and Transfer Contributions. Unless otherwise directed to
do so by the Committee, the Trustee is authorized to accept (i) any part of the cash or other assets distributed to a Participant from a Qualified Plan, a qualified annuity plan described in Code section 403(a), an annuity contract
described in Code section 403(b), an eligible plan under Code section 457(b) which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state, or from an
individual retirement account or annuity described in Code sections 408(a) or (b) that is eligible to be rolled over and would otherwise be includible in gross income and (ii) a direct transfer of assets to the Plan on behalf of a
Participant from the trustee or other funding agent of a Qualified Plan. Any amounts contributed to the Plan pursuant to this Section 3.8 will be allocated to the Participant’s Rollover Account; provided, however, that in the case of a
direct transfer of assets from the trustee of another Qualified Plan sponsored by a Controlled Group Member, the Committee will maintain such records as may be necessary to determine the portions of the transferred amount which represent employer
profit sharing, matching and salary deferral contributions made by the former employer and earnings and losses attributable thereto and will allocate such amounts to the Participant’s Profit Sharing Account, Matching Contribution Account and
Deferral Contribution Account, respectively. 
  

 13 

 ARTICLE 4 
 INVESTMENT OF CONTRIBUTIONS. 
 4.1 Investment Funds. 
 (a) Establishment of Investment Funds. The investment funds established under the Plan for the investment of Plan assets will be
(i) the A. H. Belo Stock Fund, (ii) the Belo Stock Fund and (iii) such investment funds as may be established by the Trustee under the Trust Agreement at the direction of the Investment Committee. 
 (b) A. H. Belo Stock Fund. Effective as of the Distribution Date, no further purchases of Company Stock may be made in the
A. H. Belo Stock Fund, and no Plan fiduciary, including without limitation the Investment Committee and the Administrative Committee, is authorized to permit any such purchases. The Company intends that the A. H. Belo Stock Fund will be a
permanent fund, frozen to new investment as of the Distribution Date, notwithstanding any other applicable fiduciary standard relating to (i) the diversification of Trust Fund assets, (ii) the speculative character of Trust Fund
investments, (iii) the lack or inadequacy of income provided by Trust Fund assets, or (iv) the fluctuation in the fair market value of Trust Fund assets, unless the Investment Committee determines, using an abuse of discretion standard,
that there is a serious question concerning the short-term viability of the Company as a going concern. Subject to the foregoing statement of the Company’s intent, the Investment Committee will evaluate the prudence of maintaining the
A. H. Belo Stock Fund not on the basis of the risk associated with the A. H. Belo Stock Fund standing alone but in light of the availability of other investment options under the Plan and the ability of Participants to construct a
diversified portfolio of investments consistent with their individual desired level of risk and return. 
 (c) Belo Stock
Fund. Effective as of the Distribution Date, no further purchases of common stock of Belo Corp. may be made in the Belo Stock Fund, and no Plan fiduciary, including without limitation the Investment Committee and the Administrative Committee, is
authorized to permit any such purchases. The Company intends that, in light of the historical relationship between the Company and Belo Corp., the Belo Stock Fund will be a permanent fund, frozen to new investment as of the Distribution Date,
notwithstanding any other applicable fiduciary standard relating to (i) the diversification of Trust Fund assets, (ii) the speculative character of Trust Fund investments, (iii) the lack or inadequacy of income provided by Trust Fund
assets, or (iv) the fluctuation in the fair market value of Trust Fund assets, unless the Investment Committee determines, using an abuse of discretion standard, that there is a serious question concerning the short-term viability of Belo Corp.
as a going concern. Subject to the foregoing statement of the Company’s intent, the Investment Committee will evaluate the prudence of maintaining the Belo Stock Fund not on the basis of the risk associated with the Belo Stock Fund standing
alone but in light of the availability of other investment options under the Plan and the ability of Participants to construct a diversified portfolio of investments consistent with their individual desired level of risk and return. 
 4.2 Participant Investment Directions. The Plan is designed to satisfy the requirements of ERISA section 404(c) and the regulations
under that section. All amounts allocated to each Participant’s Account will be invested by the Trustee at the direction of the 

  

 14 

 
Participant or, where applicable, the Participant’s Beneficiary, in one or more of the investment funds described in Section 4.1. The Committee
from time to time will establish rules and procedures regarding Participant and Beneficiary investment directions, including without limitation rules and procedures with respect to the manner in which such directions may be furnished, the frequency
with which such directions may be changed during the Plan Year, the minimum portion of a Participant’s or Beneficiary’s Account that may be invested in any one investment fund, the frequency with which transactions in any investment fund
may be executed (daily, weekly or at some other interval), and the manner in which Participants and Beneficiaries may provide for periodic automatic rebalancing of their Accounts among available investment funds. 
 4.3 Default Investment Fund. Until the Investment Committee designates a different default
investment fund, the Account of a Participant who fails to provide explicit investment directions will be invested in the Fidelity Freedom Fund® that has a target retirement date closest to
the year of the Participant’s retirement, based on the Participant’s current age and the assumption that the Participant will retire at age 65; provided, however, that the Fidelity Freedom Fund® for any Participant’s whose age is not known by the Committee will be the Fidelity Freedom Income Fund®. The Administrative Committee will advise
Participants and Beneficiaries that their failure to provide explicit investment directions will operate as an implicit direction to the Trustee to invest their Accounts in such default investment option. 
 4.4 Investment of Dividends on Company Stock and Belo Corp. Stock. Dividends paid on Company Stock and on common stock of Belo Corp. allocated to
a Participant’s Account will be invested proportionately in the investment funds selected by the Participant or Beneficiary in his most recent investment direction to the Trustee or, in the absence of an explicit investment direction, in the
default investment fund. 
 4.5 Suspension of Investment Directions. The Committee may temporarily suspend Participant investment
directions in connection with any event or transaction in which the Committee determines such suspension is necessary or appropriate, including without limitation a merger of the Plan with another plan, a transfer of assets from the Plan to another
plan or from another plan to the Plan, a change in administrative services provided to the Plan or a change in the investment options to be offered to Participants. Such temporary suspension will apply to those Participants designated by the
Committee for such periods of time as the Committee determines in its discretion. The Committee will give Participants affected by any suspension in investment directions such advance notice of the suspension as the Committee determines to be
reasonable under the circumstances. 
  

 15 

 ARTICLE 5 
 ALLOCATIONS TO PARTICIPANTS’ ACCOUNTS 
 5.1 Establishment of Accounts. The Committee will
establish a Deferral Contribution Account for each Participant, and to the extent applicable, a Matching Contribution Account, a Profit Sharing Account and a Rollover Account. The Committee may also establish one or more subaccounts of a
Participant’s Account, if the Committee determines that subaccounts are necessary or desirable in administering the Plan. 
 5.2
Allocation of Contributions. 
 (a) Deferral Contributions. Each Deferral Contribution made by a Participating
Employer on behalf of a Participant will be allocated by the Committee to the Participant’s Deferral Contribution Account. 
 (b) Matching Contributions. Each Participating Employer matching contribution made with respect to a payroll period on behalf of Participants who are eligible to receive a matching contribution under Section 3.4 will be
allocated by the Committee to each such Participant’s Matching Contribution Account. 
 (c) Profit Sharing
Contributions. Each profit sharing contribution made by a Participating Employer for a payroll period will be allocated only to the Profit Sharing Accounts of Participants who are employed by the Participating Employer on the last day of the
payroll period and are eligible to receive profit sharing contributions pursuant to Section 3.5. For purposes of this allocation, an Employee will be a Participant in the Plan on the last day of a payroll period if the Employee is eligible to
make Deferral Contributions as of the last day of the payroll period, without regard to whether the Participant has elected to make Deferral Contributions. The amount of a Participating Employer’s profit sharing contribution to be allocated to
the Profit Sharing Account of each such eligible Participant for a payroll period will bear the same ratio to the Participating Employer’s total profit sharing contribution for the payroll period as the Participant’s Compensation for the
payroll period bears to the total Compensation of all such Participants eligible to receive an allocation of the Participating Employer’s profit sharing contribution for the payroll period. 
 5.3 Limitation on Allocations. Article 11 sets forth certain rules under Code section 415 that limit the amount of contributions and
forfeitures that may be allocated to a Participant’s Account for a Plan Year. 
 5.4 Allocation of Trust Fund Income and Loss.

 (a) Accounting Records. The Committee, through its accounting records, will clearly segregate each Account and
subaccount and will maintain a separate and distinct record of all income and losses of the Trust Fund attributable to each Account or subaccount. Income or loss of the Trust Fund will include any unrealized increase or decrease in the fair market
value of the assets of the Trust Fund. 
  

 16 

 (b) Method of Allocation. The share of net income or net loss of the Trust Fund to
be credited to, or deducted from, each Account will be the allocable portion of the net income or net loss of the investment fund in which such Account, or any subaccount of such Account, is invested as of each Valuation Date, as determined by the
Committee in a uniform and nondiscriminatory manner. 
 5.5 Valuation of Trust Fund. The fair market value of the total net assets
comprising the Trust Fund will be determined by the Trustee as of each Valuation Date. 
 5.6 No Guarantee. The Participating
Employers, the Committee and the Trustee do not guarantee the Participants or their Beneficiaries against loss or depreciation or fluctuation of the value of the assets of the Trust Fund. 
 5.7 Benefit Statements. The Committee will furnish each Participant and each Beneficiary of a deceased Participant with a quarterly benefit
statement. No statement will be provided to a Participant or Beneficiary after the Participant’s entire vested and nonforfeitable interest in his Account has been distributed. 
  

 17 

 ARTICLE 6 
 VESTING 
 6.1 Determination of Vested Interest. 
 (a) Deferral Contributions. Except as provided in Section 6.3, the interest of each Participant in his Deferral Contribution
Account and his Rollover Account will be 100% vested and nonforfeitable at all times. 
 (b) Matching and Profit Sharing
Contributions. The Matching Contribution Account and Profit Sharing Account of each Participant not described in Section 6.1(a) will become vested and nonforfeitable in accordance with the following schedule, subject to Section 6.3:

  

			
	 Years of Service
	 	 Percent Vested
 and Nonforfeitable

	Less than 2	 	0
	2 or more	 	100

 (c) Accelerated Vesting. Except as provided in Section 6.3, a
Participant’s interest in his Matching Contribution Account and his Profit Sharing Account will become 100% vested and nonforfeitable without regard to his Years of Service upon the earliest to occur of (i) his attainment of age 55 if he
is then an Employee, (ii) his death while he is an Employee, or (iii) his becoming totally and permanently disabled (as hereinafter defined) while he is an Employee. A person will be totally and permanently disabled for purposes of
this paragraph only if he is eligible to receive disability benefits under the Social Security Act. 
 6.2 Forfeiture of Nonvested
Amounts. Upon termination of employment, a Participant who has no vested interest in his Matching Contribution Account and his Profit Sharing Account will be deemed to receive a distribution of his vested interest in such Accounts, and the
Participant’s entire nonvested interest will be forfeited immediately. If the Participant again becomes an Employee before incurring five or more consecutive One Year Breaks in Service, the forfeited amounts will be reinstated to his Account,
unadjusted for earnings or losses since the date of forfeiture. If the Participant becomes an Employee after incurring five or more consecutive One Year Breaks in Service, the forfeited amounts will not be reinstated unless the Participant had a
balance credited to his Deferral Contribution Account at the time of his termination of employment. 
 6.3 Unclaimed Distribution. If
the Committee cannot locate a person entitled to receive a benefit under the Plan within a reasonable period (as determined by the Committee in its discretion), the amount of the benefit will be treated as a forfeiture during the Plan Year in which
the period ends. If, before final distributions are made from the Trust Fund following termination of the Plan, a person who was entitled to a benefit which has been forfeited under this Section 6.4 makes a claim to the Committee or the Trustee
for his benefit, he will be entitled 

  

 18 

 
to receive, as soon as administratively feasible, a benefit in an amount equal to the value of the forfeited benefit on the date of forfeiture. This benefit
will be reinstated from forfeitures arising during such Plan Year or, if forfeitures are insufficient, from Participating Employer contributions made to the Plan for this purpose. 
 6.4 Application of Forfeited Amounts. The amount of a Participant’s Account which is forfeited pursuant to this Article will be applied to
one of the following Plan purposes as determined by the Committee in its discretion: to pay the expenses of administering the Plan, to reinstate any forfeitures that must be reinstated in accordance with this Article, to reduce Participating
Employer profit sharing contributions pursuant to Section 3.5 or to reduce Participating Employer matching contributions pursuant to Section 3.4. 
 6.5 Reemployment Provisions. If a Participant terminates employment and again becomes an Employee, his Years of Service completed before his reemployment will be included in determining his vested and
nonforfeitable interest after he again becomes an Employee. 
  

 19 

 ARTICLE 7 
 DISTRIBUTIONS TO PARTICIPANTS 
 7.1 Basic Rules Governing Distributions. 
 (a) Timing of Distributions. Except as set forth in Sections 7.1(c), 7.2 and 7.3, distribution of a Participant’s vested
Account balance will be made as soon as practicable after the Valuation Date coinciding with or immediately following the Participant’s termination of employment, or if earlier, the date on which the Participant becomes eligible to receive
benefits under the Social Security Act on account of total and permanent disability. If a loan is outstanding from the Trust Fund to the Participant on the date his vested Account balances become distributable, the amount distributed to the
Participant will be reduced by any security interest in his Account held by the Plan by reason of the loan. 
 (b) Form of Distributions. Distributions made before age 70 1/2 will be in the form of a single lump sum payment. Distributions that are delayed until a Participant reaches age
70 1/2 will be in the form of a single lump sum payment or as otherwise provided under the minimum required
distribution provisions of Article 12. The cash value of the whole and fractional shares of Company Stock allocated to a Participant’s Account will be distributed to the Participant in cash unless the Participant elects to receive distribution
of the whole shares allocated to his Account in the form of shares. In addition, at the election of a Participant who makes a rollover distribution of all or any part of his Account to a Fidelity Investments® individual retirement account, distribution may also be made in fund shares of marketable securities (as defined in Code section 731(c)(2)). For this purpose, the term “fund share” means a share, unit
or other evidence of ownership in an investment fund established under the Trust Agreement. 
 (c) Participant’s Consent to Certain Payments. If the amount of a
Participant’s vested Account balance exceeds $1,000, the Committee will not distribute the Participant’s vested Account balance to him prior to the date distributions are required to begin under Article 12 following his attainment of age
70 1/2, unless he elects to receive a distribution at any earlier date following termination of employment. For
purposes of the preceding sentence, the value of a Participant’s vested Account balances will include that portion that is attributable to his Rollover Account. A distribution may be made less than 30 days after the Participant has been
furnished an explanation of his distribution options provided that (i) the Committee clearly informs the Participant that he has the right to consider whether to accept a distribution and whether to consent to a particular form of distribution
for at least 30 days after he has been provided the relevant information, (ii) the Participant affirmatively elects to waive the 30-day notice period and receive a distribution, and (iii) with respect to a distribution to which Code
section 417 applies, the Participant is permitted to revoke the election and make a new election at any time prior to the later of the date of distribution or the expiration of the seven-day period after the explanation of distribution options
is provided to the Participant. 
  

 20 

 7.2 Withdrawals. 
 (a) After Age 59 1/2. A Participant who has not terminated employment may request a distribution from his
Account if he has reached age 59 1/2. A Participant who is a director, officer or principal stockholder of the
Company within the meaning of Section 16 of the Securities Exchange Act of 1934 may exercise the foregoing withdrawal right only in accordance with rules and procedures established from time to time by the Committee. All other Participants may
exercise their withdrawal rights at any time or times during the Plan Year. 
 (b) Former Journal
Broadcasting Employees. A Participant who, on December 31, 1997, was a participant in the Journal Broadcasting 401(k) Plan may withdraw, in accordance with rules and procedures established from time to time by the Committee, all or any
portion of his Rollover Account attributable to his after-tax contributions and rollover contributions that were transferred to the Plan from the Journal Broadcasting 401(k) Plan effective January 1, 1998. 
 7.3 Hardship Distributions. 
 (a) General Rule. 
 (i) A Participant who has not terminated employment may request a distribution from his
Deferral Contribution Account or his Rollover Account in the event of his hardship; provided, however that a Participant who was a participant in the Denton Publishing Company Retirement Plan on December 31, 1999, may request such a
distribution only with respect to his Deferral Contributions made after December 31, 1999, or his Rollover Account. A distribution will be on account of hardship only if the distribution is necessary to satisfy an immediate and heavy financial
need of the Participant, as defined below, and satisfies all other requirements of this Section 7.3. Pursuant to Section 3.1(b) or Section 3.2(b), whichever applies, a Participant’s Deferral Contributions will automatically be
suspended for a six-month period after the date on which such Participant receives a distribution on account of hardship. 
 (ii) Alternate Payees are not eligible for a hardship distribution from the Plan. 
 (b) Deemed Financial
Need. For purposes of this Section 7.3, a distribution is made on account of an immediate and heavy financial need of the Participant only if the distribution is for (i) the payment of expenses for (or necessary to obtain) medical
care that would be deductible under Code section 213(d) (determined without regard to whether the expenses exceed 7.5% of adjusted gross income); (ii) costs directly related to the purchase of a principal residence for the Participant
(excluding mortgage payments); (iii) the payment of tuition, related educational fees and room and board expenses for the next 12 months of post-secondary education for the Participant, his spouse, children or dependents (as defined in Code
section 152 and, for taxable years beginning on or after January 1, 2005, without regard to Code sections 152(b)(1), 152(b)(2) or 152(d)(1)(B)); (iv) payments necessary to prevent the eviction of the Participant from his
principal residence or foreclosure on the mortgage of the Participant’s principal residence; (v) the payment of burial or funeral expenses of the Participant’s deceased 

  

 21 

 
parent, spouse, children or dependents (as defined in Code section 152 and, for taxable years beginning on or after January 1, 2005, without regard
to Code section 152(d)(1)(B)); or (vi) expenses for the repair of damage to the Participant’s principal residence that would qualify for the casualty deduction under Code section 165 (determined without regard to whether the loss
exceeds 10% of adjusted gross income). 
 (c) Reasonable Reliance Test. A distribution will be considered necessary to
satisfy an immediate and heavy financial need of the Participant only if all three of the following requirements are satisfied: (i) the distribution is not in excess of the amount required to relieve the immediate and heavy financial need of
the Participant (taking into account the taxable nature of the distribution); (ii) the Participant represents in writing, on forms provided by the Committee, that the need cannot be relieved in whole or in part through reimbursement or
compensation by insurance or otherwise, by reasonable liquidation of the Participant’s assets, to the extent such liquidation would not itself cause an immediate and heavy financial need, by cessation of Deferral Contributions under the Plan,
or by distributions other than hardship distributions or nontaxable (at the time of the loan) loans from the Plan and any other plans maintained by any Controlled Group Member or any other entity by which the Participant is employed, or
relieved in whole by borrowing from commercial sources on reasonable commercial terms; and (iii) the Committee determines that it can reasonably rely on the Participant’s written representation. 
 7.4 Distribution Procedures. Distributions pursuant to Sections 7.2 and 7.3 will be made as soon as practicable following the
Committee’s approval of the Participant’s written request for withdrawal and will be made in the form described in Section 7.1(b). Distributions pursuant to Sections 7.2(a) and 7.3 will be made pro rata from each contribution
source in the Participant’s Account, provided, however, that in the case of a hardship distribution under Section 7.3, the cumulative amount distributed to a Participant from his Deferral Contribution Account will not exceed the amount of
his Deferral Contributions that have not been previously withdrawn (but not the income allocable to his Deferral Contributions). No distribution under Section 7.2 or Section 7.3 will be made in an amount that is greater than the excess of
the Participant’s vested interest in the Account from which the distributions are made over the aggregate amount of outstanding loans, plus accrued interest, secured by such Account. For purposes of determining the amount available for
distribution, a Participant’s Account will be valued as of the Valuation Date immediately preceding the date on which the Participant requests a distribution. 
 7.5 Loans to Participants. 
 (a) General Provisions. 
 (i) A Participant may, subject to the provisions of this Section 7.5 and the loan procedures adopted by the Committee from time to
time, borrow from the balance of his Deferral Contribution and Rollover Accounts, provided, however, that no loan may be made from a Participant’s Profit Sharing and Matching Contribution Accounts. All such loans will be subject to the
requirements of this Section 7.5 and such other rules as the Committee may from time to time prescribe, including without limitation any rules restricting the purposes for which loans will be approved. The 

  

 22 

 
Committee will have complete discretion as to approval of a loan hereunder and as to the terms thereof, provided that its decisions will be made on a uniform
and nondiscriminatory basis and in accordance with this Section 7.5. If the Committee approves a loan, the Committee will direct the Trustee to make the loan and will advise the Participant and the Trustee of the terms and conditions of the
loan. Nothing in this Section 7.5 will require the Committee to make loans available to Participants. 
 (ii) Alternate
Payees may not borrow any amount from the Plan. 
 (b) Terms and Conditions. Loans to Participants will be made
according to the following terms and conditions and such additional terms and conditions as the Committee may from time to time establish: (i) no loan will be for a term of longer than five years; (ii) all loans will be in default on the
first date that a required loan repayment is not made and the entire unpaid balance of the loan will be treated as a deemed distribution to the Participant unless all past due payments are made before the expiration of any grace period established
under the loan procedures; (iii) all loans will bear a reasonable rate of interest established under the loan procedures; (iv) all loans will be made only upon receipt of adequate security (the security for a loan will be the
Participant’s interest in the separate investment fund established under Section 7.5(f) for that loan) in an amount that does not exceed 50% of the Participant’s vested interest under the Plan); (v) except as otherwise
provided by the loan procedures, payments of principal and interest will be made through payroll deductions sufficient to provide for substantially level amortization of principal and interest with payments not less frequently than quarterly, which
will be irrevocably authorized by the Participant in writing on a form provided by the Committee at the time the loan is made; (vi) the amount of any indebtedness (including accrued and unpaid interest) under any loan will be deducted from
a Participant’s interest in the Trust Fund if and only if such indebtedness or any installment thereof is not paid when due (including amounts due by acceleration) unless the Committee determines that there is adequate security for such
loan other than the Participant’s interest in the Trust Fund; (vii) no more than two outstanding loans will be permitted with respect to a Participant at any time; (viii) no home loans will be permitted; and (ix) all loans will
be evidenced by a note containing such additional terms and conditions as the Committee will determine. Notwithstanding anything in the foregoing to the contrary, no amount of any indebtedness will be deducted pursuant to clause (vi) of
this Section 7.5(b) from a Participant’s Account prior to the time that such Account are otherwise distributable. 
 (c) Maximum Amount of Loans. The amount of any loan made pursuant to this Section 7.5, when added to the outstanding balance of all other loans to the Participant from all qualified employer plans (as defined in Code
section 72(p)(4)) of the Controlled Group, will not exceed the lesser of (i) one-half of the aggregate nonforfeitable interest in his account balance(s) under all such plans, or (ii) $50,000 reduced by the excess, if any, of
(A) the highest outstanding balance of all other loans from qualified employer plans of the Controlled Group to the Participant during the 1-year period ending on the date on which such loan was made, over (B) the outstanding balance of
all loans from qualified employer plans of the Controlled Group to the Participant on the date on which such loan was made. 
  

 23 

 (d) Minimum Loan. The minimum loan permitted under this Section 7.5 is
$1,000. If such minimum amount exceeds the limitations of Section 7.5(c), no loan will be made. 
 (e) Source of
Loans. All loans will be made from available sources in such order as the Committee may determine from time to time. 
 (f) Investment of Loan Payments. All loans will be treated as a separate investment fund of the borrowing Participant. All payments with respect to a loan will be credited to the borrowing Participant’s Account and will be
invested in the investment funds under the Trust Agreement in accordance with the Participant’s latest investment directions pursuant to Section 4.2. 
 (g) Grandfathered Loans. Loans that are transferred to the Plan from another Qualified Plan will be administered in accordance with
their terms, notwithstanding the fact that the terms of such loans do not satisfy the foregoing provisions of this Section 7.5. 
 7.6
Reemployment of Participant. If a Participant who terminated employment again becomes an Employee before receiving a distribution of his Account balance, no distribution from the Trust Fund will be made while he is an Employee, and amounts
distributable to him on account of his prior termination will be held in the Trust Fund until he is again entitled to a distribution under the Plan. 
 7.7 Valuation of Accounts. A Participant’s distributable Account balances will be valued as of the Valuation Date immediately preceding the date the Account is to be distributed, except that there will be
added to the value of his Account the fair market value of any amounts allocated to his Account under Article 5 after that Valuation Date. 
 7.8 Direct Rollovers. 
 (a) Rollover Election. Notwithstanding any other provision of the Plan, a
Distributee (as hereinafter defined) may elect, at any time and in the manner prescribed by the Committee, to have any portion of an Eligible Rollover Distribution (as hereinafter defined) paid directly to an Eligible Retirement Plan (as
hereinafter defined) specified by the Distributee, except to the extent that the total Eligible Rollover Distributions with respect to the Distributee in any Plan Year are reasonably expected to total less than $200. 
 (b) Eligible Rollover Distribution. An Eligible Rollover Distribution is any distribution of all or any portion of the balance to
the credit of the Distributee, except that an Eligible Rollover Distribution does not include (i) any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life or
life expectancy of the Distributee or the joint lives or life expectancies of the Distributee and the Distributee’s designated beneficiary, or for a specified period of ten years or more, (ii) any distribution to the extent such
distribution is required by Code section 401(a)(9), (iii) any distribution that qualifies as a hardship distribution under Section 7.3, and (iv) the portion of any distribution that is not includible in gross income (determined
without regard to the exclusion for net unrealized appreciation with respect to employer securities). Notwithstanding the foregoing, a portion of a distribution will not fail to be an Eligible Rollover Distribution merely because the 

  

 24 

 
portion consists of after-tax employee contributions which are not includible in gross income. However, such portion may be transferred only to an individual
retirement account or annuity described in Code sections 408(a) or (b), or to a qualified defined contribution plan described in Code sections 401(a) or 403(a) that agrees to separately account for amounts so transferred, including
separately accounting for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible. 
 (c) Eligible Retirement Plan. An Eligible Retirement Plan is an individual retirement account described in Code
section 408(a), an individual retirement annuity described in Code section 408(b), an annuity plan described in Code section 403(a), or a qualified trust described in Code section 401(a) that is a defined contribution plan
within the meaning of Code section 414(i), that accepts the Distributee’s Eligible Rollover Distribution. An Eligible Retirement Plan includes an annuity contract described in Code section 403(b) and an eligible plan under Code
section 457(b) which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan
from the Plan. The definition of Eligible Retirement Plan also applies in the case of a distribution to a surviving spouse, or to a spouse or former spouse who is the Alternate Payee. 
 (d) Distributee. A Distributee includes a Participant, the Participant’s Spouse, or a Participant’s former spouse who is
an Alternate Payee. A Distributee also includes a Participant’s nonspouse Beneficiary who is a designated beneficiary within the meaning of Code section 401(a)(9)(E), but only with respect to an Eligible Rollover Distribution paid to an
Eligible Retirement Plan that is either an individual retirement account described in Code section 408(a) or an individual retirement annuity described in Code section 408(b), and such individual retirement account or individual
retirement annuity is treated as an inherited individual retirement account or individual retirement annuity pursuant to Code section 402(c)(11). 
 7.9 Restrictions on Distributions. Article 12 sets forth certain rules under various provisions of the Code relating to restrictions on distributions to Participants. 
  

 25 

 ARTICLE 8 
 DISTRIBUTIONS TO BENEFICIARIES 
 8.1 Designation of Beneficiary. Each Participant will have
the right to designate a Beneficiary or Beneficiaries to receive his vested Account balance upon his death. The designation will be made in accordance with procedures prescribed by the Committee from time to time and will be effective upon receipt
by the Committee. A Participant will have the right to change or revoke any designation by filing a new designation or notice of revocation with the Committee, but the revised designation or revocation will be effective only upon receipt by the
Committee. 
 8.2 Consent of Spouse Required. A Participant who is married may not designate a Beneficiary other than, or in addition
to, his spouse unless his spouse consents to the designation by means of a written instrument that is signed by the spouse, contains an acknowledgment by the spouse of the effect of the consent, and is witnessed by a member of the Committee (other
than the Participant) or by a notary public. The designation will be effective only with respect to the consenting spouse, whose consent will be irrevocable. A Beneficiary designation to which a spouse has consented may not be changed by the
Participant without spousal consent (other than to designate the spouse as Beneficiary), unless the spouse’s consent expressly permits Beneficiary designations by the Participant without any further consent of the spouse. 
 8.3 Failure to Designate Beneficiary. In the event a Participant has not designated a Beneficiary, or in the event no Beneficiary survives a
Participant, the distribution of the Participant’s vested Account balance upon his death will be made (i) to the Participant’s spouse, if living, (ii) if his spouse is not then living, to his then living issue by right of
representation, (iii) if neither his spouse nor his issue are then living, to his then living parents, and (iv) if none of the above are then living, to his estate. 
 8.4 Distributions to Beneficiaries. Distribution of a Participant’s vested Account balance to the Participant’s Beneficiary will be made
as soon as practicable after the earlier of the Beneficiary’s request for a distribution or the required distribution date set forth in Article 12. The Participant’s vested Account balance will be distributed to the Beneficiary in a single
lump sum payment or as otherwise provided under the minimum required distribution provisions of Article 12. The Participant’s Account balances will be valued as of the Valuation Date coinciding with or immediately preceding the date the Account
is to be distributed to his Beneficiary, except that there will be added to the value of the Participant’s Account the fair market value of any amounts allocated to his Account under Article 5 after that Valuation Date. If a loan is outstanding
from the Trust Fund to the Participant on the date of his death, the amount distributed to his Beneficiary will be reduced by any security interest in the Participant’s Account held by the Plan by reason of the loan. 
 8.5 Restrictions on Distributions. Article 12 sets forth certain rules under various provisions of the Code relating to restrictions on
distributions to Beneficiaries. 
  

 26 

 ARTICLE 9 
 PROVISIONS REGARDING THE A. H. BELO STOCK FUND 
 AND THE BELO STOCK FUND 
 9.1 Participant Voting Instructions. Before each annual or special meeting of shareholders of the Company or the shareholders of Belo Corp., the
Committee will cause to be sent to each Participant and Beneficiary whose Account is invested in the Belo Stock Fund or the A. H. Belo Stock Fund, as applicable, on the record date of such meeting a copy of the proxy solicitation material for
the meeting, together with a form requesting confidential instructions to the Trustee on how to vote the shares of Company Stock or the shares of common stock of Belo Corp. allocated to his Account. Upon receipt of such instructions, the Trustee
will vote the shares allocated to such Participant’s or Beneficiary’s Account as instructed by the Participant or Beneficiary. The Trustee will vote shares for which it does not receive timely instructions from Participants or
Beneficiaries proportionately in the same manner as it votes shares for which it receives timely instructions from Participants and Beneficiaries. 
 9.2 Tender Offers. In the event of a tender offer for shares of Company Stock or common stock of Belo Corp. subject to Section 14(d)(1) of the Securities Exchange Act of 1934 or subject to Rule 13e-4 promulgated under that
Act (as those provisions may from time to time be amended or replaced by successor provisions of federal securities laws), the Committee will advise each Participant and Beneficiary whose Account is invested in the Belo Stock Fund or the A. H.
Belo Stock Fund, as applicable, in writing of the terms of the tender offer as soon as practicable after its commencement and will furnish each Participant and Beneficiary with a form by which he may instruct the Trustee confidentially to tender
shares allocated to his Account. The Trustee will tender those shares it has been properly instructed to tender, and will not tender those shares which it has been properly instructed not to tender or for which it has not received timely
instructions from the Participant or Beneficiary. The number of shares to which a Participant’s or Beneficiary’s instructions apply will be the total number of shares allocated to his Account as of the latest date for which the Committee
has records. The Committee will advise the Trustee of the commencement date of any tender offer and, until receipt of that advice, the Trustee will not be obligated to take any action under this Section 9.2. Funds received in exchange for
tendered stock will be credited to the Account of the Participant or Beneficiary whose stock was tendered and will be invested proportionately in the investment funds selected by the Participant or Beneficiary in his most recent investment direction
to the Trustee. 
 9.3 Confidentiality. The Committee will be responsible for establishing procedures designed to maintain the
confidentiality of Participant and Beneficiary information relating to the purchase, holding and sale of Company Stock or common stock of Belo Corp. and the exercise of voting, tender and similar rights with respect to such stock, except to the
extent such information is necessary to comply with federal laws or state laws that are not preempted by ERISA. 
  

 27 

 ARTICLE 10 
 ADMINISTRATION OF THE PLAN AND TRUST AGREEMENT 
 10.1 Appointment of Committee Members. The
Board of Directors or the Compensation Committee of the Board of Directors will appoint the Chairman of an Administrative Committee, which will consist of three or more members. The Chairman will appoint the remaining members of the Administrative
Committee, who will hold office at the pleasure of the Chairman. Members of the Committee are not required to be Employees or Participants. Any member may resign by giving notice, in writing, filed with the Board or the Chairman. 
 10.2 Officers and Employees of the Committee. The Committee will choose a Secretary, who may be a member of the Committee. The Secretary will keep
a record of the Committee’s proceedings and all dates, records and documents pertaining to the Committee’s administration of the Plan. The Committee may employ and suitably compensate such persons or organizations to render advice with
respect to the duties of the Committee under the Plan as the Committee determines to be necessary or desirable. 
 10.3 Action of the
Committee. Action of the Committee may be taken with or without a meeting of Committee members, provided that action will be taken only upon the vote or other affirmative expression of a majority of the Committee’s members qualified to vote
with respect to such action. The Chairman of the Committee may execute any certificate or other written direction on behalf of the Committee. In the event the Committee members qualified to vote on any question are unable to determine such question
by a majority vote or other affirmative expression of a majority of the Committee members qualified to vote on such question, such question will be determined by the Board. A member of the Committee who is a Participant may not vote on any question
relating specifically to himself unless he is the sole member of the Committee. 
 10.4 Expenses and Compensation. The expenses of
administering the Plan, including without limitation the expenses of the Committee properly incurred in the performance of its duties under the Plan, will be paid from the Trust Fund, and all such expenses paid by the Participating Employers on
behalf of the Plan will be reimbursed from the Trust Fund unless the Participating Employers in their discretion elect not to submit such expenses for reimbursement. Notwithstanding the foregoing, the members of the Committee will not be compensated
by the Plan for their services as Committee members. 
 10.5 General Powers and Duties of the Committee. The Committee will have the
full power and responsibility to administer the Plan and the Trust Agreement and to construe and apply their provisions. For purposes of ERISA, the Committee will be the named fiduciary with respect to the operation and administration of the Plan
and the Trust Agreement. In addition, the Committee will have the powers and duties granted by the terms of the Trust Agreement. The Committee, and all other persons with discretionary control respecting the operation, administration, control,
and/or management of the Plan, the Trust Agreement, and/or the Trust Fund, will perform their duties under the Plan and the Trust Agreement solely in the interests of Participants and their Beneficiaries. 
  

 28 

 10.6 Specific Powers and Duties of the Committee. The Committee will administer the Plan and the
Trust Agreement and will have the authority and discretion to (i) resolve all questions relating to the eligibility of Employees to become Participants; (ii) determine the amount of benefits payable to Participants or their Beneficiaries,
and determine the time and manner in which such benefits are to be paid; (iii) authorize and direct all disbursements by the Trustee from the Trust Fund; (iv) engage any administrative, legal, accounting, clerical, or other services it
deems appropriate in administering the Plan or the Trust Agreement; (v) construe and interpret the Plan and the Trust Agreement, supply omissions from, correct deficiencies in, and resolve ambiguities in the language of the Plan and the Trust
Agreement, and adopt rules for the administration of the Plan and the Trust Agreement which are not inconsistent with the terms of such documents; (vi) compile and maintain all records it determines to be necessary, appropriate or convenient in
connection with the administration of benefit payments; (vii) determine the disposition of assets in the Trust Fund in the event the Plan is terminated; (viii) review the performance of the Trustee with respect to the Trustee’s
administrative duties, responsibilities and obligations under the Plan and the Trust Agreement, report to the Board regarding such administrative performance of the Trustee, and recommend to the Board, if necessary, the removal of the Trustee and
the appointment of a successor Trustee; and (ix) resolve all questions of fact relating to any matter for which it has administrative responsibility. 
 10.7 Allocation of Fiduciary Responsibility. The Committee from time to time may allocate to one or more of its members and may delegate to any other persons or organizations any of its rights, powers, duties
and responsibilities with respect to the operation and administration of the Plan and the Trust Agreement that are permitted to be delegated under ERISA. Any such allocation or delegation will be made in writing, will be reviewed periodically by the
Committee, and will be terminable upon such notice as the Committee in its discretion deems reasonable and proper under the circumstances. Whenever a person or organization has the power and authority under the Plan or the Trust Agreement to
delegate discretionary authority respecting the administration of the Plan or the Trust Fund to another person or organization, the delegating party’s responsibility with respect to such delegation is limited to the selection of the person to
whom authority is delegated and the periodic review of such person’s performance and compliance with applicable law and regulations. Any breach of fiduciary responsibility by the person to whom authority has been delegated which is not
proximately caused by the delegating party’s failure to properly select or supervise, and in which breach the delegating party does not otherwise participate, will not be considered a breach by the delegating party. 
 10.8 Information to be Submitted to the Committee. To enable the Committee to perform its functions, the Participating Employers will supply full
and timely information to the Committee on all matters relating to Employees and Participants as the Committee may require and will maintain such other records required by the Committee to determine the benefits due to Participants or their
Beneficiaries under the Plan. 
 10.9 Notices, Statements and Reports. The Company will be the “administrator” of the Plan
as defined in ERISA section 3(16)(A) for purposes of the reporting and disclosure requirements imposed by ERISA and the Code. The Committee will assist the Company, as requested, in complying with such reporting and disclosure
requirements. 
  

 29 

 10.10 Claims Procedure. 
 (a) Filing Claim for Benefits. If a Participant or Beneficiary does not receive the benefits which he believes he is entitled to
receive under the Plan, he may file a claim for benefits with the Committee. All claims must be made in writing and signed by the claimant. If the claimant does not furnish sufficient information to determine the validity of the claim, the Committee
will indicate to the claimant any additional information which is required. 
 (b) Notification by the Committee. Each
claim will be approved or disapproved by the Committee within 90 days following the receipt of the information necessary to process the claim, or within 180 days if the Committee determines that special circumstances require an extension of the
90-day period and the claimant is notified of the extension within the original 90-day period. In the event the Committee denies a claim for benefits in whole or in part, the Committee will notify the claimant in writing of the adverse
determination. Such notice by the Committee will also set forth, in a manner calculated to be understood by the claimant, the specific reason or reasons for the adverse determination, reference to the specific Plan provisions on which the
determination is based, a description of any additional material or information necessary to perfect the claim with an explanation of why such material or information is necessary, and an explanation of the Plan’s claim review procedure and
applicable time limits as set forth in Section 10.10(c). 
 (c) Review Procedure. A claimant may appeal an adverse
benefit determination by requesting a review of the decision by the Committee or a person designated by the Committee, which person will be a named fiduciary under ERISA section 402(a)(2) for purposes of this Section 10.10. An appeal
must be submitted in writing within 60 days after receiving notification of the adverse determination and must (i) request a review of the claim for benefits under the Plan, (ii) set forth all of the grounds upon which the claimant’s
request for review is based and any facts in support thereof, and (iii) set forth any issues or comments which the claimant deems pertinent to the appeal. The claimant will be given the opportunity to submit written comments, documents, records
and other information relating to the claim for benefits, and will be provided, upon written request and free of charge, reasonable access to and copies of, all documents, records and other information relevant to the claim for benefits, provided
the Committee or the named fiduciary designated by the Committee finds the requested documents or materials are relevant to the appeal. The Committee or the named fiduciary designated by the Committee will make a full and fair review of each appeal
and any materials submitted by the claimant relating to the claim, without regard to whether the information was submitted or considered in the initial determination. On the basis of its review, the Committee or the named fiduciary designated by the
Committee will make an independent determination of the claimant’s eligibility for benefits and will act upon each appeal within 60 days after receipt thereof unless special circumstances require an extension of the time for processing, in
which case a decision will be rendered as soon as possible but not later than 120 days after the appeal is received. In the event of such special circumstances, the Committee or the named fiduciary designated by the Committee will notify the
claimant within the initial 60-day period of the special circumstances that preclude a decision in the 60-day period. The decision of the Committee or named fiduciary on any claim for benefits will be final and conclusive upon all parties thereto.
In the event the Committee or named fiduciary denies an appeal in whole or in part, it will give written notice of the determination to the claimant. Such notice will set forth, in a manner calculated to be 

  

 30 

 
understood by the claimant, the specific reason or reasons for the adverse determination, reference to the specific Plan provisions on which the
determination is based, a statement that the claimant is entitled to receive, upon request and free of charge, access to and copies of all documents, records and other information relevant to the claim, and a statement of the claimant’s rights
to bring an action under ERISA section 502(a), if applicable. 
 10.11 Service of Process. The Committee may from time to time
designate an agent of the Plan for the service of legal process. The Committee will cause such agent to be identified in materials it distributes or causes to be distributed when such identification is required under applicable law. In the absence
of such a designation, the Company will be the agent of the Plan for the service of legal process. 
 10.12 Correction of
Participants’ Accounts. If an error or omission is discovered in the Account of a Participant, or in the amount distributed to a Participant, the Committee will make such equitable adjustments in the records of the Plan as may be necessary
or appropriate to correct such error or omission as of the Plan Year in which such error or omission is discovered. Further, a Participating Employer may, in its discretion, make a special contribution to the Plan which will be allocated by the
Committee only to the Account of one or more Participants to correct such error or omission. 
 10.13 Payment to Minors or Other Persons
Under Legal Disability. If any benefit becomes payable to a minor, payment of such benefit will be made only to the guardian of the person or the estate of the minor, provided the guardian acknowledges in writing, in a form acceptable to the
Committee, receipt of the payment on behalf of the minor. If any benefit becomes payable to any other person under a legal disability, payment of such benefit will be made only to the conservator or the guardian of the estate of such person
appointed by a court of competent jurisdiction. Any payment made in accordance with the provisions of this Section 10.13 on behalf of a minor or other person under a legal disability will fully discharge the Plan’s obligation to such
person. 
 10.14 Uniform Application of Rules and Policies. The Committee in exercising its discretion granted under any of the
provisions of the Plan or the Trust Agreement will do so only in accordance with rules and policies established by it which will be uniformly applicable to all Participants and Beneficiaries. 
 10.15 Funding Policy. The Plan is to be funded through Participating Employer contributions and earnings on such contributions; and benefits will
be paid to Participants and Beneficiaries as provided in the Plan. 
 10.16 The Trust Fund. The Trust Fund will be held by the Trustee
for the exclusive benefit of Participants and Beneficiaries. The assets held in the Trust Fund will be invested and reinvested in accordance with the terms of the Trust Agreement, which is hereby incorporated into and made a part of the Plan. All
benefits will be paid solely out of the Trust Fund, and no Participating Employer will be otherwise liable for benefits payable under the Plan. 
  

 31 

 ARTICLE 11 
 LIMITATIONS ON CONTRIBUTIONS AND 
 ALLOCATIONS TO PARTICIPANTS’ ACCOUNTS 
 11.1 Priority over Other Contribution and Allocation Provisions. The provisions set forth in this Article will supersede any conflicting
provisions of Article 3 or Article 5. 
 11.2 Definitions Used in this Article. The following words and phrases, when used with
initial capital letters, will have the meanings set forth below. 
 (a) Annual Addition means the sum of the following
amounts with respect to all Qualified Plans and Welfare Benefit Funds maintained by the Controlled Group Members: 
 (i) the
amount of Controlled Group Member contributions with respect to the Limitation Year allocated to a Participant’s account; 
 (ii) the amount of any forfeitures for the Limitation Year allocated to a Participant’s account; 
 (iii) the
amount of a Participant’s voluntary nondeductible contributions for the Limitation Year, provided, however, that the Annual Addition for any Limitation Year beginning before January 1, 1987, will not be recomputed to treat all of the
Participant’s nondeductible voluntary contributions as part of the Annual Addition; 
 (iv) the amount allocated after
March 31, 1984, to an individual medical benefit account (as defined in Code section 415(l)(2)) which is part of a Defined Benefit Plan or an annuity plan; and 
 (v) the amount derived from contributions paid or accrued after December 31, 1985, in taxable years ending after such date that are
attributable to post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code section 419A(d)(3)) under a Welfare Benefit Fund. 
 A Participant’s Annual Addition will not include any nonvested amounts restored to his account following his reemployment before
incurring five consecutive One Year Breaks in Service, and a corrective allocation pursuant to Section 10.12 will be considered an Annual Addition for the Limitation Year to which it relates. 
 (b) Average Deferral Percentage means the average of the Deferral Percentages of each Participant in a group of Participants.

 (c) Deferral Percentage means the ratio (expressed as a percentage) determined by dividing the Deferral
Contributions made to the Plan on behalf of a Participant who is eligible to make Deferral Contributions for all or any portion of a Plan Year by the Participant’s Compensation for the Plan Year. 
  

 32 

 (d) Defined Benefit Plan means a Qualified Plan other than a Defined Contribution
Plan. 
 (e) Defined Contribution Dollar Limitation means, for any Limitation Year, $46,000, as adjusted for increases
in the cost-of-living under Code section 415(d). If a short Limitation Year is created because of a Plan amendment changing the Limitation Year to a different 12-consecutive month period, the Defined Contribution Dollar Limitation for the short
Limitation Year will not exceed the amount determined in the preceding sentence multiplied by a fraction, the numerator of which is the number of months in the short Limitation Year and the denominator of which is 12. 
 (f) Defined Contribution Plan means a Qualified Plan described in Code section 414(i). 
 (g) Highly Compensated Employee means an Employee who during the current or preceding Plan Year was a 5-percent owner of a
Controlled Group Member, or who for the preceding Plan Year had Includable Compensation in excess of $100,000 (as adjusted pursuant to Code Section 415(d)). 
 (h) Includable Compensation means an Employee’s wages as defined in Code section 3401(a) for purposes of income tax
withholding at the source (but determined without regard to any rules that limit the remuneration included in wages based on the nature or location of the employment or services performed) that are paid to a Participant by the Participating
Employers. In addition, Compensation includes any contributions made by the Participating Employers on behalf of an Employee pursuant to a deferral election under any employee benefit plan containing a cash or deferred arrangement under Code
section 401(k), any amounts that would have been received as cash but for an election to receive benefits under a cafeteria plan meeting the requirements of Code section 125 and any elective amounts that are not includible in the gross
income of the Employee by reason of Code section 132(f)(4). The annual Includable Compensation of an Employee taken into account for any purpose will not exceed $230,000 for any Plan Year beginning after December 31, 2007, as adjusted for
cost-of-living increases in accordance with Code section 401(a)(17). 
 (i) Limitation Year means the
12-consecutive-month period used by a Qualified Plan for purposes of computing the limitations on benefits and annual additions under Code section 415. The Limitation Year for this Plan is the Plan Year. 
 (j) Maximum Annual Addition means with respect to a Participant for any Limitation Year an amount equal to the lesser of
(i) the Defined Contribution Dollar Limitation or (ii) 100% of the Participant’s Includable Compensation. 
 (k) Nonhighly Compensated Employee means an Employee who is not a Highly Compensated Employee. 
 (l)
Welfare Benefit Fund means an organization described in paragraph (7), (9), (17) or (20) of Code section 501(c), a trust, corporation or other organization not exempt from federal income tax, or to the extent provided in
Treasury Regulations, any account held for an employer by any person, which is part of a plan of an employer through which the employer 

  

 33 

 
provides benefits to employees or their beneficiaries, other than a benefit to which Code sections 83(h), 404 (determined without regard to
section 404(b)(2)) or 404A applies, or to which an election under Code section 463 applies. 
 11.3 Allocation
Limitation. The Annual Addition of a Participant for any Limitation Year will not exceed the Maximum Annual Addition. If the amount allocated or otherwise allocable to a Participant’s Account would exceed the Maximum Annual Addition, the
Committee will take such action as it deems appropriate under the circumstances to reduce the Participating Employer contributions and forfeitures which would cause the Participant’s Annual Addition to exceed the Maximum Annual Addition. The
limitations contained in this Article will apply on an aggregate basis to all Defined Contribution Plans (whether or not any of such plans have terminated) established by the Controlled Group Members. For this purpose, Controlled Group Members
will be determined in accordance with the 50% control rule of Code section 415(h). 
 11.4 Limitation on Deferral Contributions.
The limitations of this Section 11.4 will apply only to Participants who are eligible to make Deferral Contributions in any Plan Year but who are not eligible to receive an allocation of Participating Employer matching contributions under
Section 3.4 for such Plan Year. The limitations of this Section 11.4 will not apply to a Participant who is eligible to receive an allocation of Participating Employer matching contributions under Section 3.4 during any portion of a
Plan Year. 
 (a) Average Deferral Percentage Test. Notwithstanding any other provision of the Plan, the Average
Deferral Percentage for a Plan Year for Participants who are Highly Compensated Employees, using the current year testing method, will not exceed the greater of: (i) the Average Deferral Percentage of Participants who are Nonhighly Compensated
Employees multiplied by 1.25; or (ii) the lesser of (A) the Average Deferral Percentage of Participants who are Nonhighly Compensated Employees plus two percentage points or (B) the Average Deferral Percentage of Participants who are
Nonhighly Compensated Employees multiplied by 2.0. 
 (b) Suspension of Deferral Contributions. If at any time during a
Plan Year the Committee determines, on the basis of estimates made from information then available, that the limitation described in Section 11.4(a) will not be met for the Plan Year, the Committee in its discretion may reduce or suspend the
Deferral Contributions of one or more Participants who are Highly Compensated Employees to the extent necessary (i) to enable the Plan to meet such limitation or (ii) to reduce the amount of excess Deferral Contributions that would
otherwise be distributed pursuant to this Section 11.4. 
 (c) Reduction of Excess Deferral Contributions. If the
Average Deferral Percentage for Participants who are Highly Compensated Employees exceeds the limitation described in Section 11.4(a), the excess contributions will be distributed to the Highly Compensated Employees on the basis of the
respective portions of the excess contributions attributable to each such Highly Compensated Employee. For purposes of this subsection, excess contributions means, for a Plan Year, the excess of (i) the aggregate amount of Deferral
Contributions paid to the Trust on behalf of Highly Compensated Employees for the Plan Year, over (ii) the maximum amount of Deferral Contributions permitted for such Plan Year under Section 11.4(a) (determined by reducing Deferral
Contributions made on behalf of Highly 

  

 34 

 
Compensated Employees in order of the Deferral Percentages beginning with the highest of such percentages). Such excess contributions will be distributed on
the basis of the dollar amount of Deferral Contributions for each such Participant (as hereinafter provided) until the aggregate amount of excess contributions has been distributed. The Deferral Contributions of the Highly Compensated Employee with
the highest dollar amount of Deferral Contributions will be reduced first by the amount required to cause that Participant’s Deferral Contributions to equal the dollar amount of the Deferral Contributions of the Highly Compensated Employee with
the next highest dollar amount, and this process will be repeated until the total amount of excess Deferral Contributions has been distributed. Upon distribution of the total excess Deferral Contributions in this manner, the Plan will be treated as
satisfying the limitations of Section 11.4(a). 
 All distributions will be increased by Trust Fund earnings and
decreased by Trust Fund losses for the Plan Year and for the period between the end of the Plan Year and the date of distribution and will be made within two and one-half months following the close of the Plan Year, if practicable, but in no event
later than the last day of the immediately following Plan Year. The amount of excess Deferral Contributions distributed pursuant to this Section with respect to a Participant for the Plan Year will be reduced by any Deferral Contributions previously
distributed to the Participant for the same Plan Year pursuant to Section 3.3. 
 (d) Determination of Earnings and
Losses. The earnings and losses of the Trust Fund for the Plan Year allocable to the portion of a Participant’s Deferral Contributions that are distributed pursuant to Section 11.4(c) will be determined by multiplying the Trust Fund
earnings or losses for the Plan Year allocable to the Participant’s Deferral Contribution Account by a fraction, the numerator of which is the amount of Deferral Contributions to be distributed to the Participant and the denominator of which is
the balance of the Participant’s Deferral Contribution Account on the last day of the Plan Year, reduced by the earnings and increased by the losses allocable to such Account for the Plan Year. The earnings and losses of the Trust Fund
allocable to the Participant’s Deferral Contributions that are distributed pursuant to Section 11.4(c) for the period between the end of the Plan Year and the date of such distribution will be determined in accordance with regulations
prescribed by the Secretary of the Treasury interpreting Code section 401(k). 
 (e) Testing Procedures. In applying
the limitations set forth in this Section 11.4, the Committee may, at its option, utilize such testing procedures as may be permitted under Code sections 401(a)(4), 401(k), 401(m) or 410(b), including without limitation (i) aggregation of
the Plan with one or more other qualified plans maintained by a Controlled Group Member or disaggregation of the Plan into component plans, (ii) inclusion of qualified matching contributions, qualified nonelective contributions or elective
deferrals made to plans of other Controlled Group Members, (iii) exclusion of all Employees (other than Highly Compensated Employees) who have not met the minimum age and service requirements of Code section 410(a)(1)(A), or (iv) any
permissible combination thereof. 
  

 35 

 ARTICLE 12 
 RESTRICTIONS ON DISTRIBUTIONS TO 
 PARTICIPANTS AND BENEFICIARIES 
 12.1 Priority over Other Distribution Provisions. The provisions set forth in this Article will supersede any conflicting provisions of Article 7
or Article 8. 
 12.2 General Restrictions. 
 (a) Distributions Prior to a Severance From Employment. Except for
distributions permitted under Article 6 with respect to Participants who attain age 59 1/2 or suffer a hardship,
a Participant’s interest in the Plan will not be distributed before the Participant’s severance from employment with all Controlled Group Members, disability or death, unless the Plan is terminated without the establishment or maintenance
by the Participating Employers of another defined contribution plan (except as permitted by Code section 401(k) and the Treasury Regulations thereunder). 
 (b) Lump Sum Distribution Required. An event described in Section 12.2(a) that would otherwise permit distribution of a
Participant’s interest in the Plan will not be treated as described in Section 12.2(a) unless the Participant receives a lump sum distribution by reason of the event. A lump sum distribution for this purpose will be a distribution
described in Code section 402(e)(4)(D) (without regard to clauses (I), (II), (III), and (IV) of clause (i) thereof). 
 12.3 Restrictions on Commencement of Distributions. The provisions of this Section 12.3 will apply to restrict the Committee’s ability to delay the commencement of distributions. Unless a Participant elects otherwise in
writing, distribution of the Participant’s vested interest in his Account will be made no later than the 60th day after the close of the Plan Year in which occurs the latest of (i) the date on which the Participant attains age 65,
(ii) the tenth anniversary of the Plan Year in which the Participant began participation in the Plan, or (iii) the Participant’s termination of employment. 
 12.4 Restrictions on Delay of Distributions. The following provisions will apply to limit a Participant’s ability to delay the distribution of benefits. Unless the Participant’s interest is
distributed in the form of a single sum on or before the required beginning date, distributions will be made in accordance with this Section 12.4 as of the first distribution calendar year. 
 (a) General Rule. Distribution of a Participant’s entire vested and
nonforfeitable interest will be made or commence not later than April 1 following the calendar year (i) in which he attains age 70 1/2, or (ii) in which his employment with the Controlled Group terminates, if later, except that a distribution to a Participant who is a 5-percent owner (as such term is defined in Code
section 416(i)(1)(B)(i)) with respect to the Plan Year in which he attains age 70 1/2 will be made
pursuant to clause (i). 
  

 36 

 (b) Amount of Required Minimum Distributions. During the Participant’s
lifetime, the minimum amount that will be distributed for each distribution calendar year is the lesser of: 
 (i) the
quotient obtained by dividing the Participant’s Account balance by the distribution period in the Uniform Lifetime Table set forth in Section 1.401(a)(9)-9 of the Treasury Regulations, using the Participant’s age as of the
Participant’s birthday in the distribution calendar year; or 
 (ii) if the Participant’s sole designated
beneficiary for the distribution calendar year is the Participant’s spouse, the quotient obtained by dividing the Participant’s Account balance by the number in the Joint and Last Survivor Table set forth in Section 1.401(a)(9)-9 of
the Treasury Regulations, using the Participant’s and spouse’s attained ages as of the Participant’s and spouse’s birthdays in the distribution calendar year. 
 (c) Timing of Distributions. Required minimum distributions will be determined under this Section 12.4 beginning with the
first distribution calendar year and up to and including the distribution calendar year that includes the Participant’s date of death. The required minimum distribution for the Participant’s first distribution calendar year will be made on
or before the Participant’s required beginning date. The required minimum distribution for other distribution calendar years, including the required minimum distribution for the distribution calendar year in which the Participant’s
required beginning date occurs, will be made on or before December 31 of that distribution calendar year. 
 (d)
Definitions. The following words and phrases, when used in this Article 12, will have the meanings set forth below. 
 (i) designated beneficiary means the individual who is designated as the Beneficiary under Article 8 and is the designated beneficiary under Code section 401(a)(9) and Section 1.401(a)(9)-1, Q&A-4, of the Treasury
Regulations. 
 (ii) distribution calendar year means a calendar year for which a minimum distribution is required. For
distributions beginning before the Participant’s death, the first distribution calendar year is the calendar year immediately preceding the calendar year which contains the Participant’s required beginning date. For distributions beginning
after the Participant’s death, the first distribution calendar year is the calendar year in which distributions are required to begin under Section 12.6. 
 (iii) life expectancy means life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the
Treasury Regulations. 
 (iv) Participant’s Account balance means the Account balance as of the last valuation
date in the calendar year immediately preceding the distribution calendar year (valuation calendar year) increased by the amount of any contributions made and allocated or forfeitures allocated to the Account balance as of dates in the
valuation calendar year after the valuation date and decreased by distributions made in the valuation calendar year after the valuation date. The Account balance for the 

  

 37 

 
valuation calendar year includes any amounts rolled over or transferred to the Plan either in the valuation calendar year or in the distribution calendar
year if distributed or transferred in the valuation calendar year. 
 (v) required beginning date means the date
specified in Section 12.4(a). 
 12.5 Limitation to Assure Benefits Payable to Beneficiaries are Incidental. In the event that any
payments under the Plan are to be made to someone other than the Participant or jointly to the Participant and his spouse or other payee, such payments must conform to the “incidental benefit” rules of Code
section 401(a)(9)(G) and the Treasury Regulations thereunder. 
 12.6 Restrictions in the Event of Death. Upon the death of
a Participant, the following distribution provisions will apply to limit the Beneficiary’s ability to delay distributions. 
 (a) Death after Distributions Begin. 
 (i) Participant Survived by Designated Beneficiary. If the
Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained
by dividing the Participant’s Account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiary, determined as follows: 
 (A) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one
for each subsequent year. 
 (B) If the Participant’s surviving spouse is the Participant’s sole designated
beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year.
For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of
the spouse’s death, reduced by one for each subsequent calendar year. 
 (C) If the Participant’s surviving spouse
is not the Participant’s sole designated beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for
each subsequent year. 
 (ii) No Designated Beneficiary. If the Participant dies on or after the date distributions
begin and there is no designated beneficiary as of September 30 of the year after the year of the Participant’s death, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s
death is the quotient 

  

 38 

 
obtained by dividing the Participant’s Account balance by the Participant’s remaining life expectancy calculated using the age of the Participant
in the year of death, reduced by one for each subsequent year. 
 (b) Death before Date Distributions Begin.

 (i) Commencement Date. If the Participant dies before distributions begin, the Participant’s entire interest
will be distributed, or begin to be distributed, no later than as follows: 
 (A) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in
which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70 1/2, if later. 
 (B) If the Participant’s surviving spouse is not the Participant’s sole
designated beneficiary, then distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died. 
 (C) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the
Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 
 (D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after
the Participant but before distributions to the surviving spouse begin, this Section 12.6(b)(i) (other than Section 12.6(b)(i)(A)), will apply as if the surviving spouse were the Participant. 
 (ii) Participant Survived by Designated Beneficiary. If the Participant dies before the date distributions begin and there is a
designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s Account balance by the remaining life
expectancy of the Participant’s designated beneficiary, determined as provided in Section 12.6(a)(i). 
 (iii) No
Designated Beneficiary. If the Participant dies before the date distributions begin and there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, distribution of the
Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 
 (iv) Death of Surviving Spouse. If the Participant dies before the date distributions begin, the Participant’s surviving
spouse is the Participant’s sole designated beneficiary, and the surviving spouse dies before distributions are required to begin to the surviving spouse under Section 12.6(b)(i)(A), this Section 12.6(b) will apply as if the surviving
spouse were the Participant. 
  

 39 

 (v) Elections. Participants or beneficiaries may elect on an individual basis
whether the five-year rule or the life expectancy rule described above applies to distributions after the death of a Participant who has a designated beneficiary. The election must be made no later than the earlier of September 30 of the
calendar year in which distribution would be required to begin under Section 12.6(b)(i), or by September 30 of the calendar year which contains the fifth anniversary of the Participant’s (or, if applicable, surviving
spouse’s) death. If neither the Participant nor the beneficiary makes an election under this Section 12.6(b)(v), distributions will be made in accordance with the foregoing provisions of this Section 12.6(b). 
 12.7 Compliance with Regulations. Distributions under the Plan to Participants or Beneficiaries will be made in accordance with Treasury
Regulations issued under Code section 401(a)(9). 
 12.8 Delayed Payments. If the amount of a distribution required to begin on a
date determined under the applicable provisions of the Plan cannot be ascertained by such date, or if it is not possible to make such payment on such date because the Committee has been unable to locate a Participant or Beneficiary after making
reasonable efforts to do so, a payment retroactive to such date may be made no later than 60 days after the earliest date on which the amount of such payment can be ascertained or the date on which the Participant or Beneficiary is located
(whichever is applicable). 
  

 40 

 ARTICLE 13 
 TOP-HEAVY PROVISIONS 
 13.1 Priority over Other Plan Provisions. If the Plan is or becomes a
Top-Heavy Plan in any Plan Year, the provisions of this Article will supersede any conflicting provisions of the Plan. However, the provisions of this Article will not operate to increase the rights or benefits of Participants under the Plan except
to the extent required by Code section 416 and other provisions of law applicable to Top-Heavy Plans. 
 13.2 Definitions Used in
this Article. The following words and phrases, when used with initial capital letters, will have the meanings set forth below. 
 (a) Defined Benefit Plan means the Qualified Plan described in Section 11.2(b). 
 (b) Defined
Contribution Dollar Limitation means the limitation described in Section 11.2(e). 
 (c) Defined Contribution
Plan means the Qualified Plan described in Section 11.2(f). 
 (d) Determination Date means for the first Plan
Year of the Plan the last day of the Plan Year and for any subsequent Plan Year the last day of the preceding Plan Year. 
 (e) Determination Period means the Plan Year containing the Determination Date and the four preceding Plan Years. 
 (f) Includable Compensation means the compensation described in Section 11.2(g). 
 (g) Key
Employee means any Employee or former Employee (and the Beneficiary of a deceased Employee) who at any time during the Plan Year that includes the Determination Date was an officer of a Controlled Group Member having Includable Compensation
greater than $150,000 (as adjusted under Code section 416(i)(1) for Plan Years beginning after December 31, 2007), a 5-percent owner of a Controlled Group Member, or a 1-percent owner of a Controlled Group Member having Includable
Compensation of more than $150,000. The determination of who is a Key Employee will be made in accordance with Code section 416(i). For purposes of this Section 13.2(g), Includable Compensation will include the amount of any salary
reduction contributions pursuant to a cash or deferred arrangement meeting the requirements of Code section 401(k) or a cafeteria plan meeting the requirements of Code section 125. 
 (h) Minimum Allocation means the allocation described in the first sentence of Section 13.3(a). 
  

 41 

 (i) Permissive Aggregation Group means the Required Aggregation Group of Qualified
Plans plus any other Qualified Plan or Qualified Plans of a Controlled Group Member which, when considered as a group with the Required Aggregation Group, would continue to satisfy the requirements of Code sections 401(a)(4) and 410 (including
simplified employee pension plans). 
 (j) Present Value means present value based only on the interest and mortality
rates specified in a Defined Benefit Plan. 
 (k) Required Aggregation Group means the group of plans consisting of
(i) each Qualified Plan (including simplified employee pension plans) of a Controlled Group Member in which at least one Key Employee participates, and (ii) any other Qualified Plan (including simplified employee pension
plans) of a Controlled Group Member which enables a Qualified Plan to meet the requirements of Code sections 401(a)(4) or 410. 
 (l) Top-Heavy Plan means the Plan for any Plan Year in which any of the following conditions exists: (i) if the Top-Heavy Ratio for the Plan exceeds 60% and the Plan is not a part of any Required
Aggregation Group or Permissive Aggregation Group of Qualified Plans; (ii) if the Plan is a part of a Required Aggregation Group but not part of a Permissive Aggregation Group of Qualified Plans and the Top-Heavy Ratio for the Required
Aggregation Group exceeds 60%; or (iii) if the Plan is a part of a Required Aggregation Group and part of a Permissive Aggregation Group of Qualified Plans and the Top-Heavy Ratio for the Permissive Aggregation Group exceeds 60%. 
 (m) Top-Heavy Ratio means a fraction, the numerator of which is the sum of the Present Value of accrued benefits and the account
balances (as required by Code section 416)) of all Key Employees with respect to such Qualified Plans as of the Determination Date (including any part of any accrued benefit or account balance distributed during the five-year period ending
on the Determination Date), and the denominator of which is the sum of the Present Value of the accrued benefits and the account balances (including any part of any accrued benefit or account balance distributed in the five-year period ending on the
Determination Date) of all Employees with respect to such Qualified Plans as of the Determination Date. For purposes of determining if the Plan is a Top-Heavy Plan for any Plan Year beginning after December 31, 2001, “one-year
period” will be substituted for “five-year period” in the preceding sentence, except with respect to distributions made for a reason other than separation from service, death or disability. The preceding provisions will also apply to
distributions under a terminated plan which, had it not been terminated, would have been aggregated with the Plan under Code section 416(g)(2)(A)(i). The value of account balances and the Present Value of accrued benefits will be determined as
of the most recent Top-Heavy Valuation Date that falls within or ends with the 12-month period ending on the Determination Date, except as provided in Code section 416 for the first and second Plan Years of a Defined Benefit Plan. The account
balances and accrued benefits of a participant who is not a Key Employee but who was a Key Employee in a prior year will be disregarded. The calculation of the Top-Heavy Ratio, and the extent to which distributions, rollovers, transfers and
contributions unpaid as of the Determination Date are taken into account will be made in accordance with Code section 416. Employee contributions described in Code section 219(e)(2) will not be taken into account for purposes of
computing the Top-Heavy Ratio. When aggregating plans, the 

  

 42 

 
value of account balances and accrued benefits will be calculated with reference to the Determination Dates that fall within the same calendar year. The
accrued benefit of any Employee other than a Key Employee will be determined under the method, if any, that uniformly applies for accrual purposes under all Qualified Plans maintained by all Controlled Group Members and included in a Required
Aggregation Group or a Permissive Aggregation Group or, if there is no such method, as if the benefit accrued not more rapidly than the slowest accrual rate permitted under the fractional accrual rate of Code section 411(b)(1)(C).
Notwithstanding the foregoing, the account balances and accrued benefits of any individual who has not performed services for a Controlled Group Member during the one-year period ending on the Determination Date will not be taken into account.

 (n) Top-Heavy Valuation Date means the last day of each Plan Year. 
 13.3 Minimum Allocation. 
 (a) Calculation of Minimum Allocation. For any Plan Year in which the Plan is a Top-Heavy Plan, each Participant who is not a Key Employee will receive an allocation of Participating Employer contributions and forfeitures of not less
than the lesser of 3% of his Includable Compensation for such Plan Year or the percentage of Includable Compensation that equals the largest percentage of Participating Employer contributions (including Deferral Contributions) and forfeitures
allocated to a Key Employee. The Minimum Allocation is determined without regard to any Social Security contribution. Deferral Contributions made on behalf of Participants who are not Key Employees will not be treated as Participating Employer
contributions for purposes of the Minimum Allocation. Matching Contributions will be treated as Participant Employer contributions for such Plan Year for purposes of the Minimum Allocation. The Minimum Allocation applies even though under other Plan
provisions the Participant would not otherwise be entitled to receive an allocation, or would have received a lesser allocation for the Plan Year because (i) the non-Key Employee fails to make mandatory contributions to the Plan, (ii) the
non-Key Employee’s Includable Compensation is less than a stated amount, or (iii) the non-Key Employee fails to complete 1,000 Hours of Service in the Plan Year. 
 (b) Limitation on Minimum Allocation. No Minimum Allocation will be provided pursuant to Section 13.3(a) to a Participant who
is not employed by a Controlled Group Member on the last day of the Plan Year. 
 (c) Minimum Allocation When Participant
is Covered by Another Qualified Plan. If a Controlled Group Member maintains one or more other Defined Contribution Plans covering Employees who are Participants in this Plan, the Minimum Allocation will be provided under this Plan, unless such
other Defined Contribution Plans make explicit reference to this Plan and provide that the Minimum Allocation will not be provided under this Plan, in which case the provisions of Section 13.3(a) will not apply to any Participant covered under
such other Defined Contribution Plans. If a Controlled Group Member maintains one or more Defined Benefit Plans covering Employees who are Participants in this Plan, and such Defined Benefit Plans provide that Employees who are participants therein
will accrue the minimum benefit applicable to top-heavy Defined Benefit Plans notwithstanding their participation in this Plan, then the provisions of Section 13.3(a) will not apply to any Participant 

  

 43 

 
covered under such Defined Benefit Plans. If a Controlled Group Member maintains one or more Defined Benefit Plans covering Employees who are Participants in
this Plan, and the provisions of the preceding sentence do not apply, then each Participant who is not a Key Employee and who is covered by such Defined Benefit Plans will receive a Minimum Allocation determined by applying the provisions of
Section 13.3(a) with the substitution of “5%” in each place that “3%” occurs therein. 
 (d)
Nonforfeitability. The Participant’s Minimum Allocation, to the extent required to be nonforfeitable under Code section 416(b) and the special vesting schedule provided in this Article, may not be forfeited under Code
section 411(a)(3)(B) (relating to suspension of benefits on reemployment) or 411(a)(3)(D) (relating to withdrawal of mandatory contributions). 
 13.4 Minimum Vesting. 
 (a) Required Vesting. For any Plan Year in which this
Plan is a Top-Heavy Plan, the minimum vesting schedule set forth in Section 13.4(b) will automatically apply to the Plan to the extent it provides a higher vested percentage than the regular vesting schedule set forth in Article 6. The minimum
vesting schedule applies to all Account balances including amounts attributable to Plan Years before the effective date of Code section 416 and amounts attributable to Plan Years before the Plan became a Top-Heavy Plan. Further, no reduction in
vested Account balances may occur in the event the Plan’s status as a Top-Heavy Plan changes for any Plan Year, and any change in the effective vesting schedule from the schedule set forth in Section 13.4(b) to the regular schedule set
forth in Article 6 will be treated as an amendment subject to Section 15.1(a)(iii). However, this Section 13.4(a) does not apply to the Account balances of any Employee who does not have an Hour of Service after the Plan has initially
become a Top-Heavy Plan, and such Employee’s Account balances will be determined without regard to this Section. 
 (b)
Minimum Vesting Schedule. 
  

			
	 Years of Service
	 	 Percentage Vested
 and Nonforfeitable

	Less than 2	 	0
	2 or more	 	100

  

 44 

 ARTICLE 14 
 PARTICIPATION BY CONTROLLED GROUP MEMBERS 
 14.1 Approval by the Company. Any Controlled Group
Member whose participation in the Plan is approved by the Company will become a Participating Employer. By participating in the Plan, the Participating Employer will be subject to all of the provisions of the Plan, the Trust Agreement and any
related Plan documents. 
 14.2 Effect of Participation by Controlled Group Member. A Controlled Group Member that participates in the
Plan pursuant will be deemed to be a Participating Employer for all purposes of the Plan, unless otherwise specified by the Company. In addition, the Company may provide, in its discretion, that the Employees of the Controlled Group Member will
receive credit for their employment with the Controlled Group Member prior to the date it became a Controlled Group Member for purposes of determining either or both the eligibility of such Employees to participate in the Plan and the vested and
nonforfeitable interest of such Employees in their Account balances provided that such credit will be applied in a uniform and nondiscriminatory manner with respect to all such Employees. 
  

 45 

 ARTICLE 15 
 AMENDMENT OF THE PLAN 
 15.1 Right to Amend the Plan. 
 (a) In General. The Company reserves to the Compensation Committee of the Board of Directors the right to amend the Plan at any
time and from time to time to the extent it may deem advisable or appropriate, provided that (i) no amendment will increase the duties or liabilities of the Trustee without its written consent; (ii) no amendment will cause a reversion of
Plan assets to the Participating Employers not otherwise permitted under the Plan; (iii) no amendment will have the effect of reducing the percentage of the vested and nonforfeitable interest of any Participant in his Account nor will the
vesting provisions of the Plan be amended unless each Participant with at least three Years of Service (including Years of Service disregarded pursuant to the reemployment provisions (if any) of Article 6) is permitted to elect to continue
to have the prior vesting provisions apply to him, within 60 days after the latest of the date on which the amendment is adopted, the date on which the amendment is effective, or the date on which the Participant is issued written notice of the
amendment; and (iv) no amendment will be effective to the extent that it has the effect of decreasing a Participant’s Account balance or eliminating an optional form of distribution as it applies to an existing Account balance. 

(b) Authority of the Board. The Company also reserves to the Board of Directors the right to amend the Plan at any time and from
time to time to the extent it may deem advisable or appropriate, subject to the limitations on amendments set forth in Section 15.1(a). 
 15.2 Amendment Procedure. Any amendment to the Plan will be made only pursuant to action of the Board or of the Compensation Committee of the Board. A certified copy of the resolutions adopting any amendment and a copy of the
executed amendment will be delivered to the Trustee, the Committee and the Company. Upon such action by the Board or the Compensation Committee of the Board, the Plan will be deemed amended as of the date specified as the effective date by such
action or in the instrument of amendment. The effective date of any amendment may be before, on or after the date of such action, except as otherwise set forth in Section 15.1. 
 15.3 Effect on Participating Employers. Unless an amendment expressly provides otherwise, all Participating Employers will be bound by any
amendment to the Plan. 
  

 46 

 ARTICLE 16 
 TERMINATION, PARTIAL TERMINATION AND 
 COMPLETE DISCONTINUANCE OF CONTRIBUTIONS 
 16.1 Continuance of Plan. The Participating Employers expect to continue the Plan indefinitely, but they do not assume an individual or collective
contractual obligation to do so, and the right is reserved to the Company, by action of the Board, to terminate the Plan or to completely discontinue contributions thereto at any time. In addition, subject to remaining provisions of this Article,
any Participating Employer at any time may discontinue its participation in the Plan with respect to its Employees. 
 16.2 Complete
Vesting. If the Plan is terminated, or if there is a complete discontinuance of contributions to the Plan by the Participating Employers, the amounts allocated or to be allocated to the Accounts of all affected Participants will become 100%
vested and nonforfeitable without regard to their Years of Service. For purposes of this Section 16.2, a Participant who has terminated employment and is not again an Employee at the time the Plan is terminated or there is a complete
discontinuance of Participating Employer contributions will not be an affected Participant entitled to full vesting if the Participant had no vested interest in his Account balance attributable to Participating Employer contributions at his
termination of employment. In the event of a partial termination of the Plan, the amounts allocable to the Accounts of those Participants who cease to participate on account of the facts and circumstances which result in the partial termination will
become 100% vested and nonforfeitable without regard to their Years of Service. 
 16.3 Disposition of the Trust Fund. If the Plan is
terminated, or if there is a complete discontinuance of contributions to the Plan, the Committee will instruct the Trustee either (i) to continue to administer the Plan and pay benefits in accordance with the Plan until the Trust Fund has been
depleted, or (ii) to distribute the assets remaining in the Trust Fund, unless distribution is prohibited by Section 12.2. If the Trust Fund is to be distributed, the Committee will make, after deducting estimated expenses for termination
of the Trust Fund and distribution of its assets, the allocations required under the Plan as though the date of completion of the Trust Fund termination were a Valuation Date. The Trustee will distribute to each Participant the amount credited to
his Account as of the date of completion of the Trust Fund termination. 
 16.4 Withdrawal by a Participating Employer. A
Participating Employer may withdraw from participation in the Plan or completely discontinue contributions to the Plan only with the approval of the Board. If any Participating Employer withdraws from the Plan or completely discontinues
contributions to the Plan, a copy of the resolutions of the board of directors of the Participating Employer adopting such action, certified by the secretary of such board of directors and reflecting approval by the Board, will be delivered to the
Committee as soon as it is administratively feasible to do so, and the Committee will communicate such action to the Trustee and to the Employees of the Participating Employer. 
  

 47 

 ARTICLE 17 
 MISCELLANEOUS 
 17.1 Reversion Prohibited. 
 (a) General Rule. Except as otherwise provided in this Section 17.1, it will be impossible for any part of the Trust Fund
either (i) to be used for or diverted to purposes other than those which are for the exclusive benefit of Participants and their Beneficiaries (except for the payment of taxes and administrative expenses), or (ii) to revert to a Controlled
Group Member. 
 (b) Failure to Qualify. In the event the Commissioner of Internal Revenue determines that the Plan is
not initially qualified under the Code, contributions made by the Participating Employers may be returned to the Participating Employers within one year after the date of such determination, provided the Company has applied for a determination
letter as to the qualified status of the Plan by the time prescribed for filing the Company’s federal income tax return for the Company’s taxable year in which the Plan is adopted or such later date as the Secretary of the Treasury may
prescribe. 
 (c) Disallowed Contributions. Each contribution of the Participating Employers under the Plan is
expressly conditioned upon the deductibility of the contribution under Code section 404. If all or part of a Participating Employer’s contribution is disallowed as a deduction under Code section 404, such disallowed amount (excluding
any Trust Fund earnings but reduced by any Trust Fund losses attributable thereto) may be returned by the Trustee to the Participating Employer with respect to which the deduction was disallowed (upon the direction of the Committee) within
one year after the disallowance. 
 (d) Mistaken Contributions. If a contribution is made by a Participating Employer
by reason of a mistake of fact, then so much of the contribution as was made as a result of the mistake (excluding any Trust Fund earnings but reduced by any Trust Fund losses attributable thereto) may be returned by the Trustee to the
Participating Employer (upon direction of the Committee) within one year after the mistaken contribution was made. 
 17.2 Bonding,
Insurance and Indemnity. 
 (a) Bonding. To the extent required under ERISA, the Participating Employers will
obtain, pay for and keep current a bond or bonds with respect to each Committee member and each Employee who receives, handles, disburses, or otherwise exercises custody or control of, any of the assets of the Plan. 
 (b) Insurance. The Participating Employers, in their discretion, may obtain, pay for and keep current a policy or policies of
insurance, insuring the Committee members, the members of the board of directors of each Participating Employer and other Employees to whom any fiduciary responsibility with respect to the administration of the Plan has been delegated against any
and all costs, expenses and liabilities (including attorneys’ fees) incurred by such 

  

 48 

 
persons as a result of any act, or omission to act, in connection with the performance of their duties, responsibilities and obligations under the Plan and
any applicable law. 
 (c) Indemnity. If the Participating Employers do not obtain, pay for and keep current the type
of insurance policy or policies referred to in Section 17.2(b), or if such insurance is provided but any of the parties referred to in Section 17.2(b) incur any costs or expenses which are not covered under such policies, then the
Participating Employers will indemnify and hold harmless, to the extent permitted by law, such parties against any and all costs, expenses and liabilities (including attorneys’ fees) incurred by such parties in performing their duties and
responsibilities under this Plan, provided that such party or parties were acting in good faith within what was reasonably believed to have been the best interests of the Plan and its Participants. 
 17.3 Merger, Consolidation or Transfer of Assets. There will be no merger or consolidation of all or any part of the Plan with, or transfer of the
assets or liabilities of all or any part of the Plan to, any other Qualified Plan unless each Participant who remains a Participant hereunder and each Participant who becomes a participant in the other Qualified Plan would receive a benefit
immediately after the merger, consolidation or transfer (determined as if the other Qualified Plan and the Plan were then terminated) which is equal to or greater than the benefit they would have been entitled to receive under the Plan
immediately before the merger, consolidation or transfer if the Plan had then terminated. 
 17.4 Spendthrift Clause. The rights of
any Participant or Beneficiary to and in any benefits under the Plan will not be subject to assignment or alienation, and no Participant or Beneficiary will have the power to assign, transfer or dispose of such rights, nor will any such rights to
benefits be subject to attachment, execution, garnishment, sequestration, the laws of bankruptcy or any other legal or equitable process. This Section 17.4 will not apply to a “qualified domestic relations order.” A “qualified
domestic relations order” means a judgment, decree or order made pursuant to a state domestic relations law which satisfies the requirements of Code section 414(p). Payment to an Alternate Payee will be made in an immediate lump sum
payment, if the order so provides. 
 17.5 Rights of Participants. Participation in the Plan will not give any Participant the right
to be retained in the employ of a Controlled Group Member or any right or interest in the Plan or the Trust Fund except as expressly provided herein. 
 17.6 Electronic Media. Notwithstanding any provision of the Plan to the contrary, including any provision which requires the use of a written instrument, to the extent permitted by applicable law, the Committee
may establish procedures for the use of electronic media in communications and transactions between the Plan or the Committee and Participants and Beneficiaries. Electronic media may include, but are not limited to, electronic mail, the Internet,
intranet systems and automated telephonic response systems. 
 17.7 Gender, Tense and Headings. Whenever any words are used herein in
the masculine gender, they will be construed as though they were also used in the feminine gender in all cases where they would so apply. Whenever any words used herein are in the singular form, they will be construed as though they were also used
in the plural form in all cases where they 

  

 49 

 
would so apply. Headings of Articles, Sections and subsections as used herein are inserted solely for convenience and reference and constitute no part of the
Plan. 
 17.8 Governing Law. The Plan will be construed and governed in all respects in accordance with applicable federal law and, to the
extent not preempted by such federal law, in accordance with the laws of the State of Texas, including without limitation, the Texas statute of limitations, but without giving effect to the principles of conflicts of laws of such State.

 Executed at Dallas, Texas, this
                     day of February, 2008. 
  

			
	A. H. BELO CORPORATION
		
	By	 	 
		 	 Name:
 Title:

  

 50 

 APPENDIX A 
 PARTICIPATING EMPLOYERS 
 AS OF FEBRUARY     , 2008 
 A. H. Belo Corporation 
 Al Dia, Inc.

 Belo Interactive, Inc. 
 The
Dallas Morning News, Inc. 
 Denton Publishing Company 
 DFW Printing Company, Inc. 
 Press-Enterprise Company 
 The Providence Journal Company 
 Rhode Island Monthly Communications, Inc. 
 TDMN New Products, Inc. 
  

 51Form of A.H. Belo Corporation Change in Control Severance Plan

 Exhibit 10.7 
 A. H. BELO CORPORATION 
 CHANGE IN CONTROL SEVERANCE PLAN 
  

 TABLE OF CONTENTS 
  

					
	1.	  	Purpose of the Plan	  	1
			
	2.	  	Definitions	  	1
			
	3.	  	Eligibility	  	6
			
	4.	  	Effect of a Change in Control on Long-Term Incentive Compensation Awards	  	7
			
	5.	  	Termination of Employment	  	7
			
	6.	  	Certain Additional Payments by the Company	  	10
			
	7.	  	Section 409A	  	12
			
	8.	  	No Mitigation or Offset; Enforcement of the Plan	  	13
			
	9.	  	Insurance and Indemnification	  	14
			
	10.	  	Withholding	  	14
			
	11.	  	Default in Payment	  	14
			
	12.	  	Term	  	14
			
	13.	  	Funding of Benefits	  	15
			
	14.	  	Amendment or Modification	  	15
			
	15.	  	Successors	  	15
			
	16.	  	Severability	  	16
			
	17.	  	Survival	  	16
			
	18.	  	Notices	  	16
			
	19.	  	Governing Law	  	16
			
	20.	  	Headings and References	  	16
			
	21.	  	Interpretation	  	16

  

 A. H. BELO CORPORATION 
 CHANGE IN CONTROL SEVERANCE PLAN 
 1. Purpose of the Plan. The Board of Directors (the
“Board”) of A H. Belo Corporation (the “Company”) recognizes the importance to Company and its shareholders of ensuring that the Company and its subsidiaries have the continued dedication and leadership of the
Company’s management team, notwithstanding the possibility, threat or occurrence of a Change in Control (as defined below). The Board recognizes that the possibility of a Change in Control and the uncertainty it may create among management may
result in the departure or distraction of management personnel to the detriment of the Company and its shareholders. Therefore, the Board has decided to adopt this Change in Control Severance Plan (the “Plan”) in order to encourage
the retention of management and to reduce the level of uncertainty and distraction that is likely to result from a Change in Control or a potential Change in Control. The Plan is intended to qualify for purposes of ERISA (as defined below) as an
unfunded welfare plan maintained by the Company for the purpose of providing benefits for a select group of management or highly compensated employees exempt from the reporting and disclosure requirements of ERISA. 
 2. Definitions. For purposes of the Plan, the following terms have the meanings set forth below: 
 (a) “Affiliate” means, with respect to any specified Person, any other Person that, directly or indirectly, through one or more
intermediaries, controls, is controlled by, or is under common control with, such specified Person. 
 (b) “Annual Base
Salary” means a Participant’s annual base salary at the rate in effect on the Severance Protection Date or such higher rate as may be in effect at any time after the Severance Protection Date. 
 (c) “Annual Bonus” means, except as otherwise expressly provided in Section 5(b)(ii) and Section 5(b)(iii), the Participant’s
annual incentive pay opportunity at the level in effect on the Severance Protection Date or such higher level as may be in effect at any time after the Severance Protection Date. 
 (d) “Average Annual Bonus Award” means, as of a Participant’s Termination Date, the Average Annual Bonus Award payable or actually
paid to the Participant in respect of the three fiscal years preceding such Participant’s Termination Date; provided, however, that (i) if the Participant has not been employed by the Company or a Subsidiary for a sufficient
length of time to have been eligible for payment of at least one such annual incentive award, “Average Annual Bonus Award” will then mean the target payout under the then-current annual incentive plan for the fiscal year in which
such Participant’s Termination Date occurs, (ii) for any fiscal year during which an annual incentive award that was paid or is payable to the Participant was prorated because of less than a full fiscal year of plan participation or
employment, such award will be annualized and (iii) if the Participant was not employed during any one or more of the three fiscal years immediately preceding such Participant’s Termination Date or otherwise was not eligible to receive an
annual incentive award for such fiscal year, the 

 Average Annual Bonus Award will be determined on the basis of the number of fiscal years during such period with respect
to which the Participant was eligible to receive such an award. 
 (e) “Cause” means, with respect to any Participant, the
occurrence of any one of the following: 
 (i) the Participant is convicted of, or pleads guilty or nolo contendere
to, a felony involving moral turpitude or that involves misappropriation of the assets of the Company or a Subsidiary; 
 (ii) the Participant commits one or more acts or omissions constituting negligence, fraud or other misconduct that have a materially detrimental effect on the Company or a Subsidiary; or 
 (iii) the Participant willfully commits a violation of any of the Company’s material policies (including the Company’s code of
business conduct and ethics, as in effect from time to time) that is materially detrimental to the best interests of the Company. 
 For
purposes of this Section 2(e), no act or failure to act on the part of the Participant will be considered “willful” unless it is done, or omitted to be done, by the Participant in bad faith or without reasonable belief that the
Participant’s action or omission was in the best interests of the Company. The termination of employment of the Participant for Cause will not be effective unless and until there has been delivered to the Participant a copy of a resolution duly
adopted by the Compensation Committee at a meeting called and held for such purpose (after reasonable notice is provided to the Participant and the Participant is given an opportunity, together with counsel, to be heard before the Compensation
Committee), finding that, in the good faith opinion of the Compensation Committee, the Participant is guilty of the conduct described in clause (i), (ii) or (iii) above and specifying the particulars of such conduct in detail;
provided, however, that if the Participant is the Chief Executive Officer of the Company, the foregoing determination will be made by the Board (excluding the Participant) before which the Participant will be entitled to be heard with
counsel. 
 (f) “Change in Control” means the occurrence of any of the following: 
 (i) individuals who, as of the Effective Date, were members of the Board (the “Incumbent Directors”) cease for any
reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director after the Effective Date whose election, or nomination for election, by the Company’s shareholders was approved by a
vote of at least a majority of the Incumbent Directors will be considered as though such individual were an Incumbent Director, other than any such individual whose assumption of office after the Effective Date occurs as a result of an actual
or threatened proxy contest with respect to election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a “person” (as such term is used in Section 13(d) of the Exchange
Act) (each, a “Person”), other than the Board; 
 (ii) the consummation of (A) a merger, consolidation
or similar form of corporate transaction involving the Company (each of the events referred to in this 

  

 2 

 
clause (A) being hereinafter referred to as a “Reorganization”) or (B) a sale or other disposition of all or substantially all the
assets of the Company (a “Sale”), unless, immediately following such Reorganization or Sale, (1) all or substantially all the individuals and entities who were the “beneficial owners” (as such term is defined in Rule
13d-3 under the Exchange Act (or a successor rule thereto)) of shares of the Company’s common stock or other securities eligible to vote for the election of the Board outstanding immediately prior to the consummation of such Reorganization or
Sale (such securities, the “Company Voting Securities”) beneficially own, directly or indirectly, more than 60% of the combined voting power of the then outstanding voting securities of the corporation or other entity resulting from
such Reorganization or Sale (including a corporation or other entity that, as a result of such transaction, owns the Company or all or substantially all the Company’s assets either directly or through one or more subsidiaries) (the
“Continuing Entity”) in substantially the same proportions as their ownership, immediately prior to the consummation of such Reorganization or Sale, of the outstanding Company Voting Securities (excluding any outstanding voting
securities of the Continuing Entity that such beneficial owners hold immediately following the consummation of the Reorganization or Sale as a result of their ownership prior to such consummation of voting securities of any corporation or other
entity involved in or forming part of such Reorganization or Sale other than the Company or a Subsidiary), (2) no Person (excluding any employee benefit plan (or related trust) sponsored or maintained by the Continuing Entity or any corporation
or other entity controlled by the Continuing Entity) beneficially owns, directly or indirectly, 30% or more of the combined voting power of the then outstanding voting securities of the Continuing Entity and (3) at least a majority of the
members of the board of directors or other governing body of the Continuing Entity were Incumbent Directors at the time of the execution of the definitive agreement providing for such Reorganization or Sale or, in the absence of such an agreement,
at the time at which approval of the Board was obtained for such Reorganization or Sale; 
 (iii) the shareholders of the
Company approve a plan of complete liquidation or dissolution of the Company; or 
 (iv) any Person, corporation or other
entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of securities of the Company representing 30% or more of the combined voting power of the Company
Voting Securities; provided, however, that for purposes of this subparagraph (iv), the following acquisitions will not constitute a Change in Control: (A) any acquisition directly from the Company, (B) any acquisition by the
Company or any Subsidiary, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Subsidiary, (D) any acquisition by an underwriter temporarily holding such Company Voting
Securities pursuant to an offering of such securities or (E) any acquisition pursuant to a Reorganization or Sale that does not constitute a Change in Control for purposes of Section 2(f)(ii). 
 For purposes of applying the provisions of Section 2(f)(ii)(B)(2) and Section 2(f)(iv) at any time on or after the Effective Date, neither
Robert W. Decherd nor any 

  

 3 

 
Person holding voting securities of the Continuing Entity or Company Voting Securities, as applicable, over which Robert W. Decherd has sole or shared
voting power will be considered to be the beneficial owner of 30% or more of such voting securities or Company Voting Securities. 
 (g)
“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated thereunder. 
 (h) “Compensation Committee” means the Compensation Committee of the Board. 
 (i) “Disability”
means the Participant’s absence for a period of 180 consecutive business days as a result of incapacity due to a physical or mental condition, illness or injury which is determined to be total and permanent by a physician mutually acceptable to
the Company and the Participant or the Participant’s legal representative (such acceptance not to be unreasonably withheld) after such physician has completed an examination of the Participant. 
 (j) “Effective Date” means the date on which Belo Corp. distributes to its shareholders all of the common stock of the Company.

 (k) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor statute
thereto. 
 (l) “Excise Tax” means the excise tax imposed by Section 4999 of the Code, together with any interest or
penalties imposed with respect to such tax. 
 (m) “Good Reason” means, with respect to any Participant and without the
Participant’s express written consent, the occurrence of any one or more of the following at any time during the Severance Protection Period: 
 (i) the failure to elect or reelect or otherwise to maintain the Participant in the office or the position, or a substantially equivalent or better office or position, of or with the Company or a Subsidiary, which the
Participant held immediately prior to a Change in Control, or the removal of the Participant as a member of the Board of Directors of the Company (or any successor to the Company) if the Participant was a Director of the Company immediately prior to
the Change in Control; 
 (ii) (A) a significant adverse change in the nature or scope of the authorities, powers, functions,
responsibilities or duties attached to the position with the Company and any Subsidiary which the Participant held immediately prior to the Change in Control, (B) a reduction in the aggregate of the Participant’s Annual Base Salary or
Annual Bonus received from the Company and any Subsidiary, (C) a reduction in the Participant’s long-term incentive compensation opportunity from the level in effect on the Severance Protection Date or such higher level as may be in effect
at any time after the Severance Protection Date or (D) the termination or denial of the Participant’s rights to retirement or welfare benefits or a reduction in the scope or value of such benefits (other than any such reduction that is
generally applicable to all employees of the Company), and such change, reduction or termination is not remedied by the Company 

  

 4 

 
within ten business days after receipt by the Company of written notice from the Participant of such change, reduction or termination, as the case may be;

 (iii) any change of the Participant’s principal place of employment to a location more than 50 miles from the
Participant’s principal place of employment immediately prior to a Change in Control; 
 (iv) any failure of the Company
to pay the Participant any compensation when due (other than an inadvertent failure that is remedied within ten business days after receipt of written notice from the Participant); 
 (v) the delivery by the Company or any Subsidiary of a written notice to the Participant of the intent to terminate the
Participant’s employment for any reason, other than Cause or Disability, regardless of whether such termination is intended to become effective during or after the Severance Protection Period; or 
 (vi) any failure by the Company to comply with and satisfy Section 15. 
 The Participant’s right to terminate employment for Good Reason will not be affected by the Participant’s incapacity due to physical or mental
illness. A termination of employment by the Participant for Good Reason for purposes of the Plan will be effective only if the Participant gives the Company written notice (“Notice of Termination for Good Reason”) of the termination
setting forth in reasonable detail the specific conduct of the Company that constitutes Good Reason and the specific provisions of the Plan on which the Participant relied. Unless the parties agree otherwise, a termination of employment by the
Participant for Good Reason will be effective on the 30th day following the date when the Notice of Termination for Good Reason is given, unless the Company elects to treat such termination as effective as of an earlier date; provided,
however, that so long as an event that constitutes Good Reason occurs during the Severance Protection Period and the Participant delivers the Notice of Termination for Good Reason at any time prior to the expiration of the Severance
Protection Period, the termination of the Participant’s employment will be deemed to be a resignation for Good Reason during the Severance Protection Period. If the Company disputes the existence of Good Reason, the Company will have the burden
of proof to establish that Good Reason does not exist. If the Participant continues to provide services to the Company after one of the events giving rise to Good Reason has occurred, the Participant will not be deemed to have consented to such
event or to have waived the Participant’s right to terminate his or her employment at any time during the Severance Period for Good Reason in connection with such event. 
 (n) “Payment” means any payment, benefit or distribution (or combination thereof) by the Company, any of its Affiliates or any trust
established by the Company or its Affiliates, to or for the benefit of a Participant, whether paid, payable, distributed, distributable or provided pursuant to the Plan or otherwise, including any payment, benefit or other right that constitutes a
“parachute payment” within the meaning of Section 280G of the Code. 
 (o) “Person” has the meaning set forth
in Section 2(f)(i). 
 (p) “Separation from Service” means a Participant’s separation from service within the
meaning of Section 409A of the Code. 
  

 5 

 (q) “Severance Multiple” will mean, with respect to any Participant, the number that
corresponds to such Participant’s Tier (as set forth on Schedule A) as of the Severance Protection Date. 
 (r) “Severance
Protection Date” means the date on which a Change in Control occurs during the Term, except as otherwise provided in Section 3(b). 
 (s) “Severance Protection Period” means, with respect to any Participant, the period commencing on the Severance Protection Date and ending on the earlier of (i) the second anniversary of the Severance Protection Date
and (ii) the Participant’s Termination Date. If a Participant’s Severance Protection Period ends on the Participant’s Termination Date, the Severance Protection Period will be deemed to include such Termination Date. 

(t) “Subsidiary” means any entity in which the Company, directly or indirectly, possesses 50% or more of the total combined voting
power of all classes of its stock. 
 (u) “Term” has the meaning set forth in Section 12. 
 (v) “Termination Date” means the date on which a Participant has a Separation from Service. 
 (w) “Tier” has the meaning set forth in Section 3. 
 3. Eligibility. 
 (a) Employees in Certain Positions. Participants in the Plan
(“Participants”) are those employees of the Company and its Subsidiaries (other than an employee who enters into an individual change in control severance agreement with the Company) who are actively employed by the Company or a
Subsidiary on or following the Effective Date in a position set forth on Schedule A (each set of positions set forth on Schedule A is referred to the Plan as a “Tier”) and who are designated by the Compensation Committee as
eligible to participate in the Plan. Notwithstanding the foregoing, if an employee becomes a Participant prior to the Severance Protection Date but is not actively employed by the Company or a Subsidiary in a position set forth on Schedule A
immediately prior to the Severance Protection Date, or if an employee was not employed in a position set forth on Schedule A prior to the Severance Protection Date but became employed in such a position following such date as a result of hiring
or promotion, such employee will not be considered a Participant for any purpose under the Plan unless otherwise determined by the Compensation Committee. 
 (b) Employment Rights. Participation in the Plan does not alter the status of a Participant as an at-will employee, and nothing the Plan will reduce or eliminate the right of the Company and its Subsidiaries to
terminate a Participant’s employment at any time for any reason or the right of a Participant to resign at any time for any reason. However, any Separation from Service of a Participant or removal of a Participant from his or her office or
position in the Company or any Subsidiary that follows the commencement of any discussion with a Person that ultimately results in a Change in Control will be deemed to be a Separation from Service or removal of the Participant following the
Severance Protection Date; provided that if the Separation from Service precedes the Change in Control, then for purposes of determining the 

  

 6 

 
timing of any payments to be made pursuant to Section 5(b), such payments will be measured from the date of the Change in Control rather than from the
date of the Participant’s Separation from Service. 
 4. Effect of a Change in Control on Long-Term Incentive Compensation
Awards. In the event of a Change in Control during the Term, notwithstanding any provision to the contrary in any of the Company’s equity-based, equity-related or other long-term incentive compensation plans, practices, policies and
programs each as amended or any award agreements thereunder, (i) all outstanding stock options, stock appreciation rights and similar rights and awards then held by each Participant that are unexercisable or otherwise unvested will
automatically become fully vested and immediately exercisable, as the case may be, (ii) all outstanding equity-based, equity-related and other long-term incentive awards then held by such Participant that are subject to performance-based
vesting criteria will automatically become fully vested and earned at a deemed performance level equal to the greater of the target performance level or the performance level determined by actual performance through the date ending on the date of
the Change in Control and (iii) all other outstanding equity-based, equity-related and long-term incentive awards, to the extent not covered by the foregoing clause (i) or (ii), then held by such Participant that are unvested or subject to
restrictions or forfeiture will automatically become fully vested and all restrictions and forfeiture provisions related thereto will lapse. 
 5. Termination of Employment. 
 (a) Termination by the Company for Cause; Voluntary Resignation by the Participant
without Good Reason. If, during the Severance Protection Period, a Participant’s employment is terminated either by the Company or its Subsidiaries for Cause or, except as otherwise provide in Section 5(c), by resignation of the
Participant without Good Reason, the Participant will not be entitled to any compensation or benefits under the Plan other than any payments the Company is at the time of such termination or resignation obligated to make pursuant to Section 4
(the “Accrued Rights”). 
 (b) Termination During the Severance Protection Period by the Company without Cause or by the
Participant for Good Reason. 
 (i) Release of Claims. If during the Severance Protection Period a
Participant’s employment is terminated by the Company or any of its Subsidiaries other than for Cause or Disability or by resignation of the Participant with Good Reason, then, in addition to the Accrued Rights the Participant will be entitled
to the payments and benefits set forth in this Section 5(b), provided that the Participant has executed and delivered to the Company a Separation Agreement and Release substantially in the form attached to the Plan as Exhibit A and such
release has become effective and irrevocable in accordance with its terms no later than the first day of the seventh month after the Participant’s Termination Date. If the Participant fails to furnish such release, or if the release furnished
by the Participant has not become effective and irrevocable by the first day of the seventh month after the Participant’s Termination Date, the Participant will not be entitled to any payment or benefit under the Plan other than the Accrued
Rights. 
  

 7 

 (ii) Severance Pay. The Company will pay the Participant an amount equal to the
Participant’s Severance Multiple times the sum of (A) the Participant’s Annual Base Salary (determined without regard to any reduction giving rise to Good Reason) and (B) the greater of the Participant’s Average Annual Bonus
Award and the Participant’s Annual Bonus at the target level of performance for the fiscal year that includes the Termination Date in a lump-sum payment payable as soon as practicable on or after the first day of the seventh month after the
Participant’s Termination Date but in no event later than 30 days after the first day of such seventh month. The foregoing amounts will be reduced by the value of any other cash severance payments relating to salary or bonus continuation the
Participant is otherwise eligible to receive upon termination of employment under any severance plan, practice, policy or program of the Company or any Subsidiary, unless such plan, policy or program expressly provides that a cash severance or
retention payment is in addition to the payments and benefits under this Plan. 
 (iii) Annual Bonus. To the extent
not paid under the Company’s annual bonus plan then in effect, the Company will pay the Participant an amount equal to the Participant’s Annual Bonus in effect as of the Participant’s Termination Date at a deemed performance level
equal to the greater of the target performance level or the performance level determined by actual performance through the Termination Date, without proration for less than a full performance period, in a lump-sum payment payable as soon as
practicable on or after the first day of the seventh month after the Participant’s Termination Date but in no event later than 30 days after the first day of such seventh month. 
 (iv) Retirement Plan Benefits. With respect to any employee pension plan (within the meaning of Section 3(2) of ERISA) that
is a defined contribution plan in which the Participant was an active participant immediately prior to the Participant’s Termination Date, the Company will determine the amount of Company contributions the Participant would have been entitled
to receive pursuant to such plan if the Participant (A) had remained an active participant in such plan during the number of years equal to the Participant’s Severance Multiple (such period, the “Continuation Period”), and
(B) had made pre-tax and after-tax contributions at the highest rate permitted by the plan, based on the terms of the plan in effect on the Termination Date. The Company will make a lump-sum cash payment to the Participant in an amount equal to
the amount of such Company contributions as soon as practicable on or after the first day of the seventh month after the Participant’s Termination Date but in no event later than 30 days after the first day of such seventh month. 
 (v) Welfare Benefits. In lieu of continued participation during the Continuation Period (as defined in Section 5(b)(iv)) in
the Company’s medical and dental benefits, the Company will make a lump-sum cash payment to the Participant in an amount equal to (A) the Company’s annual cost of providing such benefits to the Participant and the Participant’s
spouse and dependents based on the Participant’s medical and dental benefit elections in effect immediately prior to the Termination Date multiplied by (B) the number of years in the Continuation Period. For purposes of this
Section 5(b)(v), the Company’s annual cost of providing medical or dental benefits will 

  

 8 

 
be equal to the COBRA cost of such benefits on the Termination Date determined without regard to the two percent administrative charge, less the rate of
employee premiums for such benefits charged to the Participant immediately prior the Termination Date. The Company will make the lump sum payment provided for in this Section 5(b)(v) as soon as practicable on or after the first day of
the seventh month after the Participant’s Termination Date but in no event later than 30 days after the first day of such seventh month. 
 (vi) Long-Term Incentive Compensation Awards. Notwithstanding any provision to the contrary in any of the Company’s or any of its Subsidiary’s equity-based, equity-related or other long-term incentive
compensation plans, practices, policies and programs or any award agreements thereunder, (A) all outstanding stock options, stock appreciation rights and similar rights and awards then held by the Executive that are unexercisable or otherwise
unvested will automatically become fully vested and immediately exercisable, and all stock options and stock appreciation rights then held by the Executive (whether vested or unvested) will remain exercisable until the earlier of the end of the
maximum period of time permissible without the imposition of the Section 409A Tax (as defined in Section 7) and their originally scheduled expiration dates, (B) all outstanding equity-based, equity-related and other long-term
incentive awards then held by the Executive that are subject to performance-based vesting criteria will automatically become fully vested and earned at a deemed performance level equal to the greater of the target performance level or the
performance level determined by actual performance through the Termination Date and (C) all other outstanding equity-based, equity-related and long-term incentive awards, to the extent not covered by the foregoing clauses (A) and (B), then
held by the Executive that are unvested or subject to restrictions or forfeiture will automatically become fully vested and all restrictions and forfeiture provisions related thereto will lapse. 
 (vii) Outplacement Services. The Participant will be entitled to reimbursement from the Company, upon such Participant’s
presentation to the Company of a written invoice from the applicable vendor requesting payment, for the cost of profession management support offered by a reputable and experienced vendor selected by the Participant, provided that (A) the cost
of such services do not exceed $25,000 and (B) such services are provided for a period not to exceed 18 months following the Participant’s Termination Date. 
 (c) Resignation During the Severance Protection Period. A Participant may voluntarily terminate employment with the Company or any Subsidiary for any reason or without reason during the 30-day period
immediately following the first anniversary of a Change in Control, the Participant will be entitled to the payments and benefits set forth in Section 5(b) in the same manner and subject to the same conditions as if the termination of
employment was with Good Reason. 
 (d) Death or Disability. In the event of the termination of a Participant’s employment at any
time as a result of death or Disability, neither the Participant nor the Participant’s estate will be entitled to any payments or benefits under the Plan, other than payments with respect to the Accrued Rights. If, however, a Participant dies
after his 

  

 9 

 
Termination Date but prior to receiving payment of the amounts set forth in Section 5(b)(ii), (iii) and (iv), such amounts will be paid to the
Participant’s estate as soon as practicable but in no event later than 30th day after the Participant’s death; provided that the
Participant had furnished the release described in Section 5(b)(i) prior to his or her death and such release has become effective and irrevocable by the 30th day after the Participant’s death. If the Participant failed to furnish such release, or if the release furnished by the Participant has not become effective and irrevocable by the 30th
 day after the Participant’s death, the Participant’s estate will not be entitled to any payment or benefit under the Plan other than the Accrued Rights. 
 (e) Termination of Employment and Payment Provisions. For purposes of the Plan, a Participant will not be considered to have a termination of
employment unless the termination of employment qualifies as a Separation from Service. The date on which a Participant’s benefit under the Plan is paid will be determined at the sole discretion of the Compensation Committee in accordance with
the applicable provisions of this Section 5, and the Participant will have no discretion with respect to the date of such payment. 
 6.
Certain Additional Payments by the Company. 
 (a) Gross-Up Payment. Notwithstanding anything in the Plan to the contrary and
except as set forth below, in the event it will be determined that any Payment that is paid or payable to or for the benefit of a Participant during the Term would be subject to the Excise Tax, such Participant will be entitled to receive an
additional payment (a “280G Gross-Up Payment”) in an amount such that, after payment by such Participant of all taxes (and any interest or penalties imposed with respect to such taxes), including any income and employment taxes (and
any interest and penalties imposed with respect thereto) and Excise Taxes imposed upon the 280G Gross-Up Payment, such Participant retains an amount of the 280G Gross-Up Payment equal to the Excise Tax imposed upon such Payments. The Company’s
obligation to make 280G Gross-Up Payments under this Section 6 will not be conditioned upon a Participant’s termination of employment and will survive and apply after such Participant’s termination of employment. 
 (b) Calculation of Gross-Up Payment. Subject to the provisions of Section 6(c), all determinations required to be made under this
Section 6, including whether and when a 280G Gross-Up Payment is required, the amount of such 280G Gross-Up Payment and the assumptions to be utilized in arriving at such determination, will be made in accordance with the terms of this Section
6 by a nationally recognized certified public accounting firm that will be selected by the Participant in his or her sole discretion (the “Accounting Firm”). The Accounting Firm will provide detailed supporting calculations
both to the Company and the Participant within 15 business days of the receipt of notice from the Participant that there has been a Payment or such earlier time as is requested by the Participant or the Company. For purposes of determining the
amount of any 280G Gross-Up Payment, each Participant will be deemed to pay Federal income tax at the highest marginal rate applicable to individuals in the calendar year in which any such 280G Gross-Up Payment is to be made and deemed to pay state
and local income taxes at the highest marginal rates applicable to individuals in the state or locality of the Participant’s residence or place of employment in the calendar year in which any such 280G Gross-Up Payment is to be made, net of the
maximum reduction in Federal income taxes that can be obtained from deduction of state and local taxes, taking into account limitations applicable to individuals subject to Federal income tax at the highest marginal rate. All fees and expenses of

  

 10 

 
the Accounting Firm will be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 6, will be paid by the Company to
the applicable Participant within five business days of the receipt of the Accounting Firm’s determination. If the Accounting Firm determines that no Excise Tax is payable by the Participant, it will so indicate to the Participant in writing.
Any determination by the Accounting Firm will be binding upon the Company and the Participant. As a result of the uncertainty in the application of the Excise Tax, it is possible that the amount of the 280G Gross-Up Payment determined by the
Accounting Firm to be due to a Participant, consistent with the calculations required to be made hereunder, will be lower than the amount actually due (an “Underpayment”). In the event the Company exhausts its remedies pursuant to
Section 6(c) and the Participant thereafter is required to make a payment of any Excise Tax, the Accounting Firm will determine the amount of the Underpayment that has occurred, and any such Underpayment will be paid by the Company to
such Participant within five business days of the receipt of the Accounting Firm’s determination. 
 (c) Notice of Claims. A
Participant will notify the Company in writing of any written claim by the Internal Revenue Service that, if successful, would require the payment by the Company of a 280G Gross-Up Payment. Such notification will be given as soon as practicable, but
no later than 30 days after the Participant is informed in writing of such claim. Failure to give timely notice will not prejudice any Participant’s right to 280G Gross-Up Payments and rights of indemnity under this Section 6, unless, and
solely to the extent that, the Company has been prejudiced in a material respect by such failure. The Participant will advise the Company of the nature of such claim and the date on which such claim is requested to be paid. No Participant will pay
such claim prior to the expiration of the 30-day period following the date on which the Participant gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the
Company notifies a Participant in writing prior to the expiration of such period that the Company wishes to contest such claim, the Participant will (i) give the Company any information reasonably requested by the Company relating to such
claim, (ii) take such action in connection with contesting such claim as the Company will reasonably request in writing from time to time, including accepting legal representation with respect to such claim by an attorney reasonably selected by
the Company, (iii) cooperate with the Company in good faith in order effectively to contest such claim and (iv) permit the Company to participate in any proceedings relating to such claim; provided, however, that the Company
will bear and pay directly all costs and expenses (including additional income taxes, interest and penalties) incurred in connection with such contest, and will indemnify and hold the Participant harmless, on an after-tax basis, for any Excise Tax
or income tax (including interest or penalties) imposed as a result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions of this Section 6(c), the Company will control all proceedings taken in
connection with such contest, and, at its sole discretion, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the applicable taxing authority in respect of such claim and may, at its sole discretion,
either direct the Participant to pay the tax claimed and sue for a refund or contest the claim in any permissible manner, and the Participant agrees to prosecute such contest to a determination before any administrative tribunal, in a court of
initial jurisdiction and in one or more appellate courts, as the Company will determine; provided, however, that (A) if the Company directs the Participant to pay such claim and sue for a refund, the Company will advance the
amount of such payment to the Participant, on an interest-free basis, and will indemnify and hold the Participant harmless, on an after-tax basis, from any 

  

 11 

 
Excise Tax or income tax (including interest or penalties) imposed with respect to such advance or with respect to any imputed income in connection with such
advance and (B) if such contest results in any extension of the statute of limitations relating to payment of taxes for the taxable year of the Participant with respect to which such contested amount is claimed to be due, such extension must be
limited solely to such contested amount. Furthermore, the Company’s control of the contest will be limited to issues with respect to which the 280G Gross-Up Payment would be payable hereunder, and each Participant will be entitled to settle or
contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 
 (d) Refunds. If,
after the receipt by a Participant of an amount advanced by the Company pursuant to Section 6(c), the Participant becomes entitled to receive any refund with respect to such claim, the Participant will (subject to the Company’s complying
with the requirements of Section 6(c)) promptly pay to the Company the amount of such refund received (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by a Participant of an amount
advanced by the Company pursuant to Section 6(c), a determination is made that the Participant will not be entitled to any refund with respect to such claim and the Company does not notify Participant in writing of its intent to contest such
denial of refund prior to the expiration of the 30-day period after such determination, then such advance will be forgiven and will not be required to be repaid and the amount of such advance will offset, to the extent thereof, the amount of 280G
Gross-Up Payment required to be paid. 
 (e) Payment Deadline. Notwithstanding
any other provision of this Section 6 to the contrary, any Gross-Up Payment, Underpayment or other payment or reimbursement made pursuant to this Section 6 will be paid or reimbursed no later than December 31st of the year following the year in which the applicable taxes are remitted or, in the case of reimbursement of expenses incurred due to a tax audit or
litigation to which there is no remittance of taxes, no later than the end of the year following the year in which the audit is completed or there is a final and nonappealable settlement or other resolution of the litigation in accordance with
Treasury Regulation Section 1.409A-3(i)(1)(v). 
 7. Section 409A. 
 (a) Compliance. It is the intention of the Company that the provisions of the Plan comply with Section 409A of the Code, and all provisions
of the Plan will be construed and interpreted in a manner consistent with Section 409A of the Code. From and after the Severance Protection Date, (i) the Company will administer and operate the Plan and each Participant’s rights and
benefits hereunder in compliance with Section 409A of the Code and any rules, regulations or other guidance promulgated thereunder as in effect from time to time and (ii) in the event that the Company determines that any provision of the
Plan does not comply with Section 409A or any such rules, regulations or guidance and that a Participant may become subject to additional tax, interest or penalties under Section 409A of the Code (such tax, interest and penalties a
“Section 409A Tax”), the Company may amend or modify such provision solely to the extent necessary to avoid the application of such Section 409A Tax, provided that such amendment or modification will not reduce the
economic value to the affected Participant of such provision. 
  

 12 

 (b) 409A Gross-Up Payment. (i) In the
event that, notwithstanding the provisions of Section 7(a), a Participant is subject to a Section 409A Tax with respect to any such provision, the Participant will be entitled to receive an additional payment from the Company (a
“409A Gross-Up Payment”) in an amount such that, after payment by the Participant of all taxes (and any interest or penalties imposed with respect to such taxes), including any income and employment taxes (and any interest and
penalties imposed with respect thereto) and any Section 409A Tax imposed upon the 409A Gross-Up Payment, the Participant retains an amount of the 409A Gross-Up Payment equal to the Section 409A Tax imposed with respect to such provision.
The provisions of Sections 6(c) and 6(d) will apply, to the same extent and in the same manner as if the Section 409A Tax were an Excise Tax, to any claim by the Internal Revenue Service that, if successful, would give rise to a 409A Gross-Up
Payment by the Company; provided, however that any 409A Gross-Up Payment will be paid or reimbursed no later than December 31st of the
year following the year in which the applicable taxes are remitted or, in the case of reimbursement of expenses incurred due to a tax audit or litigation to which there is no remittance of taxes, no later than the end of the year following the year
in which the audit is completed or there is a final and nonappealable settlement or other resolution of the litigation in accordance with Treasury Regulation Section 1.409A-3(i)(1)(v). 
 (c) Acceleration of Payments. To the extent that any payment or benefit required to be made under the Plan constitutes nonqualified deferred
compensation subject to Section 409A of the Code, the time or schedule of such payment or benefit may not be accelerated except to the extent permitted by Section 409A of the Code. Where Section 409A of the Code permits a payment or
benefit that constitutes nonqualified deferred compensation to be accelerated but does not require the Plan to expressly provide for such acceleration, the payment or benefit may be accelerated in the sole discretion of the Compensation Committee.

 8. No Mitigation or Offset; Enforcement of the Plan. 
 (a) Mitigation and Offset. The Company’s obligation to make the payments and otherwise perform its obligations provided for in the Plan will not be affected by any set-off, counterclaim, recoupment,
defense or other claim, right or action which the Company may have against any Participant or others. In no event will any Participant be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the
Participant under any of the provisions of the Plan and, except as otherwise expressly provided for in the Plan, such amounts will not be reduced whether or not the Participant obtains other employment. 
 (b) Expense of Enforcement. The Company will reimburse, upon the Participant’s demand, any and all reasonable legal fees and expenses that
the Participant may incur as a result of any contest, dispute or proceeding (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof and including all stages of any contest, dispute or proceeding) by
the Company, the Participant or any other Person with respect to the validity or enforceability of, or liability under, any provision of the Plan or any guarantee of performance thereof (including as a result of any contest by the Participant
regarding the amount of any payment owed pursuant to the Plan), and will indemnify and hold the Participant harmless, on an after-tax basis, for any tax (including Excise Tax) imposed on the Participant as a result of payment by the Company of such
legal fees and expenses. Any such 

  

 13 

 
payment or reimbursement will be for expenses incurred by the Participant during his lifetime, and such payment or reimbursement will be made not later than
December 31st of the year following the year in which the Participant incurs the expense; provided, that in no event will the amount of
expenses eligible for payment or reimbursement in one year affect the amount of expenses to be paid or reimbursed in any other taxable year. 
 9. Insurance and Indemnification. Beginning upon the Severance Protection Date and for so long thereafter as any Participant could be subject to liability, the Company will keep in place a directors’ and officers’ liability
insurance policy (or policies) providing comprehensive coverage to each Participant for claims relating to the Participant’s service as an employee, officer or director of the Company or its Subsidiaries, at a level (if any) that is no less
favorable to the Participant (e.g., with respect to scope, amounts and deductibles) than the level (if any) provided to similarly situated active employees of the Company and its Subsidiaries. The Company will indemnify each Participant to
the fullest extent permitted by the Company’s Certificate of Incorporation and Bylaws, any officer indemnification agreement between the Participant and the Company and the general laws of the State of Delaware and will provide indemnification
expenses in advance to the extent permitted thereby. The indemnification and advance of any expenses provided by the Company pursuant to the Plan will not be deemed exclusive of any other rights to which a Participant may be entitled under any law
(common or statutory), or any agreement, vote of shareholders or disinterested directors or other provision that is consistent with law, both as to action in his or her official capacity and as to action in another capacity while holding office or
while employed or acting as agent for the Company or any Subsidiary, and such rights will continue in respect of all events occurring while the Participant was a director of or employed by the Company or any Subsidiary that continue after the
Participant has ceased to be a director of or employed by the Company or any Subsidiary, and will inure to the benefit of the estate, heirs, executors and administrators of the Participant. 
 10. Withholding. The Company will deduct and withhold from any amounts payable under the Plan such Federal, state, local, foreign or other taxes
as are required to be withheld pursuant to any applicable law or regulation. 
 11. Default in Payment. Any payment not made within
ten business days after it is due in accordance with the Plan will thereafter bear interest, compounded annually, at the so-called composite “prime rate” as quoted from time to time during the relevant period in The Wall Street
Journal. Any change in such prime rate will be effective on and as of the date of such change. For purposes of this Section 11, the due date of the payments required under Section 5(b)(ii), (iii), (iv) and (v) and under
Section 5(d) is the first day of the seventh month after the Participant’s Termination Date or date of death, as applicable, or if such payments are measured from the date of the Change in Control pursuant to Section 3(b), the date of
the Change in Control. 
 12. Term. The Plan will remain in effect until the third anniversary of the Effective Date (such period, as
extended by the provisions of this Section 12, the “Term”); provided that beginning on the second anniversary of the Effective Date and on each anniversary thereafter (each, an “Extension Date”), the
Plan will be automatically extended for an additional one-year period, unless, pursuant to a resolution adopted by the Board at least 60 days prior to the Extension Date, the Company determines not to extend the Plan. Notwithstanding the foregoing,

  

 14 

 
in the event of a Change in Control during the Term, the Plan will continue in full force and effect in accordance with its terms and will not terminate or
expire until all the Company’s obligations to all Participants have been satisfied in full; provided, however, that, notwithstanding any extension of the Term, the Plan will only be effective with respect to the first Change in
Control that occurs following the Effective Date, and the Participants will not be entitled to any payments or benefits pursuant to the Plan with respect to any subsequent Change in Control. 
 13. Funding of Benefits. Promptly following the earlier of (i) the approval by the Board of a transaction that, if consummated, would
constitute a Change in Control or (ii) the occurrence of an event that constitutes a Change in Control, the Company will contribute to a trust an amount sufficient to provide the payments and benefits (including any 280G Gross-Up Payment and
any 409A Gross-Up Payment) that may become payable under the Plan. The trust will be irrevocable from and after the date on which a Change in Control occurs, and the assets of the trust will at all times be subject to the claims of the
Company’s unsecured creditors. If a transaction approved by the Board is terminated or abandoned before a Change in Control occurs, the Company may terminate the trust and direct the trustee to pay to the Company the assets of the trust;
provided that the Company will remain obligated to fund payments and benefits to the extent provided in this Section 13 upon the approval by the Board of any subsequent transaction or upon a subsequent Change in Control. 
 14. Amendment or Modification. The Board may amend or modify the Plan at any time; provided, however, that except as specifically
provided in Section 7, (i) no amendment that is adverse to the interests of a Participant will be effective during the one-year period ending on the Severance Protection Date without the prior written consent of such Participant and
(ii) on and after the Severance Protection Date, the Plan may not be amended at any time in a manner that is adverse to a Participant without the prior written consent of such Participant. The failure of a Participant to insist upon strict
adherence to any term of the Plan on any occasion will not be considered a waiver of such Participant’s rights or deprive such Participant of the right thereafter to insist upon strict adherence to that term or any other term of the Plan. No
failure or delay by any Participant in exercising any right or power hereunder will operate as a waiver thereof, nor will any single or partial exercise of any such right or power, or any abandonment of any steps to enforce such right or power,
preclude any other or further exercise thereof or the exercise of any other right or power. 
 15. Successors. This Plan will bind any
successor (a “Successor”) to all or substantially all of the business or assets of the Company (whether direct or indirect, by purchase, merger, consolidation or otherwise), in the same manner and to the same extent that the Company
would have been obligated under the Plan if no such succession had taken place. In the case of any transaction in which a Successor would not, pursuant to the foregoing provision or by operation of law, be bound by the Plan, the Company will require
such Successor expressly and unconditionally to assume and agree to perform the Company’s obligations under the Plan, in the same manner and to the same extent that the Company would have been required to perform such obligations if no such
succession had taken place. The term “Company,” as used in the Plan, will mean the Company as hereinbefore defined and any Successor and any assignee to such business or assets which by reason hereof becomes bound by the Plan. 

 

 15 

 16. Severability. If any term or provision of the Plan is invalid, illegal or incapable of being
enforced by any applicable law or public policy, all other conditions and provisions of the Plan will nonetheless remain in full force and effect. 
 17. Survival. The provisions of the Plan will survive and remain binding and enforceable, notwithstanding the expiration or termination of the Plan, the termination of a Participant’s employment with the Company for any reason
or any settlement of the financial rights and obligations arising from such Participant’s participation under the Plan, to the extent necessary to preserve the intended benefits of the Plan. 
 18. Notices. All notices or other communications required or permitted by the Plan will be made in writing and all such notices or communications
will be deemed to have been duly given when delivered or (unless otherwise specified) mailed by United States certified or registered mail, return receipt requested, postage prepaid, addressed as follows: 
  

					
	If to the Company:	    	A. H. Belo Corporation
		    	400 South Record Street
		    	Dallas, Texas 75202
			
		    	Attention:	  	Chief Executive Officer
		    		  	Fax: (214) 977-____
		
	If to a Participant:	    	 to such Participant’s address as most recently furnished to
 the Company and set forth in the Company’s records;

 or to such other address as any party may have furnished to the other in writing in accordance herewith, except
that notices of change of address will be effective only upon receipt. 
 19. GOVERNING LAW. THIS PLAN WILL BE DEEMED TO BE MADE IN
THE STATE OF TEXAS, AND THE VALIDITY, INTERPRETATION, CONSTRUCTION AND PERFORMANCE OF THIS PLAN IN ALL RESPECTS WILL BE GOVERNED BY THE LAWS OF THE STATE OF TEXAS WITHOUT REGARD TO ITS PRINCIPLES OF CONFLICTS OF LAW. 
 20. Headings and References. The headings of the Plan are inserted for convenience only and neither constitute a part of the Plan nor affect in
any way the meaning or interpretation of the Plan. When a reference in the Plan is made to a Section, such reference will be to a Section of the Plan unless otherwise indicated. 
 21. Interpretation. For purposes of the Plan, the words “include” and “including,” and variations thereof, will not be deemed
to be terms of limitation but rather will be deemed to be followed by the words “without limitation.” The term “or” is not exclusive. The word “extent” in the phrase “to the extent” will mean the degree to
which a subject or other thing extends, and such phrase will not mean simply “if.” 
 Adopted by the Board of
Directors of 
 A. H. Belo Corporation on January 11, 2008. 
  

 16 

 SCHEDULE A 
  

					
	 POSITION
	 	 TIER
	 	 SEVERANCE
 MULTIPLE

			
	Chief Executive Officer	 	Tier I	 	3.0
			
	 Members of the Company’s Management
 Committee (other than the Chief Executive
 Officer)
	 	Tier II	 	2.5
			
	 Executive Vice Presidents and Senior Vice
 Presidents (other than Management Committee members)
	 	Tier III	 	2.0
			
	 Vice Presidents (not described in Tier II or
 Tier III)
	 	Tier IV	 	1.5

 EXHIBIT A 
 SEPARATION AGREEMENT AND RELEASE 
 A. H. Belo form of release to be attached.

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