Document:

R E S T R I C T E D  S T O C K  A W A R D  A G R E E M E N T 

Non-transferable
G R
A N T  T O  

___________________
 
(“Grantee”)  

by Journal
Communications, Inc. (the “Company”) of
_____ shares of its Class B common
stock, $0.01 par value (the “Shares”)  

pursuant to and subject to the
provisions of the Journal Communications, Inc. 2003 Equity Incentive Plan, as amended (the
“Plan”) and to the terms and conditions set forth on the following page (the
“Terms and Conditions”). By accepting the Shares, Grantee shall be deemed to
have agreed to the terms and conditions set forth in this Agreement and the Plan.
Capitalized terms used herein and not otherwise defined shall have the meanings assigned
to such terms in the Plan. 

        Unless
vesting is accelerated in accordance with the Plan or in the discretion of the Committee,
the Shares will vest (become non-forfeitable) in accordance with the following schedule: 

	 
	 

	Years of Service	
	after Date of Grant	Percent of SARs Vested
	 
	 

	 
	 

	 
	 

	 
	 

        IN
WITNESS WHEREOF, Journal Communications, Inc., acting by and through its duly authorized
officers, has caused this Agreement to be duly executed. 

JOURNAL COMMUNICATIONS, INC. 

	By:___________________________________________________	Grant Date:___________________________________________________

TERMS AND CONDITIONS 

1.    Restrictions.
The Shares are subject to each of the following           restrictions. “Restricted
Shares” mean those Shares that are subject           to the restrictions imposed
hereunder which restrictions have not then expired           or terminated. Restricted
Shares may not be sold, transferred, exchanged,           assigned, pledged, hypothecated
or otherwise encumbered. If Grantee’s           employment with the Company
terminates for any reason other than as set forth in           paragraph (b) of Section 2
hereof, then Grantee shall forfeit all of           Grantee’s right, title and
interest in and to the Restricted Shares as of           the date of employment
termination, and such Restricted Shares shall revert to           the Company immediately
following the event of forfeiture. The restrictions           imposed under this Section
shall apply to all shares of the Company’s Class           B Common Stock or other
securities issued with respect to Restricted Shares           hereunder in connection
with any merger, reorganization, consolidation,           recapitalization, stock
dividend or other change in corporate structure           affecting the Class B Common
Stock of the Company.  

2.    Expiration
and Termination of Restrictions. The restrictions imposed           under Section 1
will expire on the earliest to occur of the following (the           period prior to such
expiration being referred to herein as the “Restricted           Period”):  

         (a)       
          as to the percentages of the Shares specified on the cover page hereof, on the
          respective dates specified on the cover page hereof; provided Grantee is then
          employed by the Company or an Affiliate; or 

         (b)       
          as to all of the Shares, the termination of Grantee’s employment due to
          death or Disability; or 

         (c)       
          as to all of the Shares, the occurrence of a Change in Control. 

3.    Delivery
of Shares. The Shares will be registered in the name of Grantee           as of the
Grant Date and may be held by the Company during the Restricted Period           in
certificated or uncertificated form. If a certificate for Restricted Shares           is
issued during the Restricted Period with respect to such Shares, such
          certificate shall be registered in the name of Grantee and shall bear a legend
          in substantially the following form (in addition to any legend required under
          applicable state securities laws): “This certificate and the shares of
          stock represented hereby are subject to the terms and conditions (including
          forfeiture and restrictions against transfer) contained in a Restricted Stock
          Agreement between the registered owner of the shares represented hereby and
          Journal Communications, Inc. Release from such terms and conditions shall be
          made only in accordance with the provisions of such Agreement, copies of which
          are on file in the offices of Journal Communications, Inc.” Stock
          certificates for the Shares, without the first above legend, shall be delivered
          to Grantee or Grantee’s designee upon request of Grantee after the
          expiration of the Restricted Period, but delivery may be postponed for such
          period as may be required for the Company with reasonable diligence to comply,
          if deemed advisable by the Company, with registration requirements under the
          Securities Act of 1933, listing requirements under the rules of any stock
          exchange, and requirements under any other law or regulation applicable to the
          issuance or transfer of the Shares.  

4.    Voting
and Dividend Rights. Grantee, as beneficial owner of the Shares,           shall have
full voting and dividend rights with respect to the Shares during and           after the
Restricted Period. Each dividend payment, if any, shall be made no           later than
the end of the calendar year in which the dividend is paid to the           shareholders
or, if later, the 15th day of the third month following           the date the
dividend is paid to shareholders. If Grantee forfeits any rights he           may have
under this Agreement, Grantee shall no longer have any rights as a           stockholder
with respect to the Restricted Shares or any interest therein and           Grantee shall
no longer be entitled to receive dividends on such stock. In the           event that for
any reason Grantee shall have received dividends upon such stock           after such
forfeiture, Grantee shall repay to the Company any amount equal to           such
dividends.  

5.    No
Right of Continued Employment. Nothing in this Agreement shall           interfere
with or limit in any way the right of the Company or any Affiliate to           terminate
Grantee’s employment at any time, nor confer upon Grantee any           right to
continue in the employ of the Company or any Affiliate.  

6.    Payment
of Taxes. Grantee will, no later than the date as of which any           amount
related to the Shares first becomes includable in Grantee’s gross           income
for federal income tax purposes, pay to the Company, or make other           arrangements
satisfactory to the Committee regarding payment of, any federal,           state and
local taxes of any kind required by law to be withheld with respect to           such
amount, including without limitation the surrender of shares of Class B           Common
Stock to the Company. The obligations of the Company under this Agreement           will
be conditional on such payment or arrangements, and the Company, and, where
          applicable, its Affiliates will, to the extent permitted by law, have the right
          to deduct any such taxes from the award or any payment of any kind otherwise
due           to Grantee.  

7.    Plan
Controls. The terms contained in the Plan are incorporated into and           made a
part of this Agreement and this Agreement shall be governed by and           construed in
accordance with the Plan. In the event of any actual or alleged           conflict
between the provisions of the Plan and the provisions of this           Agreement, the
provisions of the Plan shall be controlling and determinative.  

8.    Successors.
This Agreement shall be binding upon any successor of the           Company, in
accordance with the terms of this Agreement and the Plan.  

9.    Severability.
If any one or more of the provisions contained in this           Agreement is invalid,
illegal or unenforceable, the other provisions of this           Agreement will be
construed and enforced as if the invalid, illegal or           unenforceable provision
had never been included.  

10.    Notice.
Notices and communications under this Agreement must be in           writing and either
personally delivered or sent by registered or certified           United States mail,
return receipt requested, postage prepaid. Notices to the           Company must be
addressed to Journal Communications, Inc., 333 West State           Street, Milwaukee,
Wisconsin, 83203: Attn: Chief Accounting Officer, or any           other address
designated by the Company in a written notice to Grantee. Notices           to Grantee
will be directed to the address of Grantee then currently on file           with the
Company, or at any other address given by Grantee in a written notice           to the
Company.N O N — S T A
T U T O R Y  S T O C K  O P T I O N  A G R E E M E N T 

Non-transferable
G R
A N T  T O  

_____________________________

(“Optionee”)  

the right to purchase
from Journal Communications, Inc. (the “Company”)  

shares of its Class B
Common Stock, $0.01, at the price of $_____ per share (the “Option”) 

pursuant to and subject to the
provisions of the Journal Communications, Inc. 2003 Equity Incentive Plan, as amended (the
“Plan”) and to the terms and conditions set forth on the following page (the
“Terms and Conditions”). By accepting the Option, Optionee shall be deemed to
have agreed to the terms and conditions set forth in this Agreement and the Plan.
Capitalized terms used herein and not otherwise defined shall have the meanings assigned
to such terms in the Plan. 

Unless vesting is accelerated in
accordance with the Plan or in the discretion of the Committee, the Option shall vest
(become exercisable) in accordance with the following schedule: 

	 
	 

	Years of Service	
	after Date of Grant	Percent of SARs Vested
	 
	 

	 
	 

	 
	 

	 
	 

        IN
WITNESS WHEREOF, Journal Communications, Inc., acting by and through its duly authorized
officers, has caused this Agreement to be duly executed. 

JOURNAL COMMUNICATIONS, INC. 

	By:___________________________________________________	Optionee:___________________________________________________
		
Grant Date:_________________________________________________

TERMS AND CONDITIONS 

1.    Vesting
of Option. The Option shall vest (become exercisable) in           accordance with
the schedule shown on the cover page of this Agreement.           Notwithstanding the
vesting schedule, upon Grantee’s death or Disability or           upon a Change in
Control, all Options shall become fully vested and exercisable.  

2.    Term of
Option and Limitations on Right to Exercise. The term of the           Option will be
for a period of ten years, expiring at 5:00 p.m., Central Time,           on the tenth
anniversary of the Grant Date (the “Expiration Date”). To           the extent
not previously exercised, the Option will lapse prior to the           Expiration Date
upon the earliest to occur of the following circumstances:  

         (a)       
          Six months after the termination of Grantee’s service for any reason other
          than (i) for Cause, (ii) by reason of Grantee’s death, Disability, or
          Retirement, or (iii) following a Change in Control. 

         (b)       
          Twelve months after the date of the termination of Grantee’s service by
          reason of (i) Disability, or (ii) for any reason other than Cause or Retirement
          following a Change in Control. 

         (c)       
          Twelve months after the date of Grantee’s death, if Grantee dies while
          employed, or during the six-month period described in subsection (a) above or
          during the twelve-month period described in subsection (b) above and before the
          Options otherwise lapse. Upon Grantee’s death, the Options may be exercised
          by Grantee’s beneficiary designated pursuant to the Plan. 

         (d)       
          5:00 p.m., Central Time, on the Expiration Date in the case of Grantee’s
          Retirement. 

         (e)       
          5:00 p.m., Central Time, on the date of the termination of Grantee’s
          service if such termination is for Cause. 

        If
Optionee returns to employment with the Company during the designated post-termination
exercise period, then Optionee shall be restored to the status Optionee held prior to such
termination but no vesting credit will be earned for any period Optionee was not employed
by the Company. If Optionee or his or her beneficiary exercises an Option after
termination of service, the Option may be exercised only with respect to the Option shares
that were otherwise vested on Optionee’s termination of service, including Option
shares vested by acceleration under section 1. 

3.    Exercise
of Option. The Option shall be exercised by (a) written notice           directed to
the Chief Accounting Officer of the Company or his or her designee           at the
address and in the form specified by the Company from time to time and           (b)
payment to the Company in full for the Option shares subject to such           exercise
(unless the exercise is a broker-assisted cashless exercise, as           described
below). If the person exercising an Option is not Optionee, such           person shall
also deliver with the notice of exercise appropriate proof of his           or her right
to exercise the Option. Payment for such shares shall be in (a)           cash, (b)
shares of Class B Common Stock previously acquired by the purchaser,           or (c) any
combination thereof, for the number of shares of Class B Common Stock           specified
in such written notice. The value of surrendered shares of Class B           Common Stock
for this purpose shall be the Fair Market Value as of the last           trading day
immediately prior to the exercise date. Alternatively, the Company           may permit
Optionee to exercise the Option through a “net” exercise,           whereby the
Company shall retain from the Option that number of Option shares           having a Fair
Market Value on the date of exercise equal to some or all of the           exercise
price. To the extent permitted under Regulation T of the Federal           Reserve Board,
and subject to applicable securities laws and any limitations as           may be applied
from time to time by the Committee (which need not be uniform),           the Option may
be exercised through a broker in a so-called “cashless           exercise” whereby
the broker sells the Option shares on behalf of Optionee           and delivers cash
sales proceeds to the Company in payment of the exercise           price. In such case,
the date of exercise shall be deemed to be the date on           which notice of exercise
is received by the Company and the exercise price shall           be delivered to the
Company by the settlement date.  

4.    Withholding.
The Company or any employer Affiliate has the authority and           the right to deduct
or withhold, or require Optionee to remit to the employer,           an amount sufficient
to satisfy federal, state, and local taxes (including           Optionee’s FICA
obligation) required by law to be withheld with respect to           any taxable event
arising as a result of the exercise of the Option. The           withholding requirement
may be satisfied, in whole or in part, at the election           of the Company, by
withholding from the Option shares of Class B Common Stock           having a Fair Market
Value on the date of withholding equal to the minimum           amount (and not any
greater amount) required to be withheld for tax purposes,           all in accordance
with such procedures as the Company establishes.  

5.    Limitation
of Rights. The Option does not confer to Optionee or           Optionee’s
beneficiary any rights of a shareholder of the Company unless           and until shares
of Class B Common Stock are in fact issued to such person in           connection with
the exercise of the Option. Nothing in this Agreement shall           interfere with or
limit in any way the right of the Company or any Affiliate to           terminate Optionee’s
service at any time, nor confer upon Optionee any           right to continue in the
service of the Company or any Affiliate.  

6.    Restrictions
on Transfer and Pledge. The Options are transferable by           Grantee pursuant to
the laws of descent and distribution upon Grantee’s           death or, during
Grantee’s lifetime, to permissible transferees as defined           in Section 11 of
the Plan. The Options may be exercised during the lifetime of           Grantee only by
Grantee or any permitted transferee.  

7.    Restrictions
on Issuance of Shares. If at any time the Committee shall           determine in its
discretion, that registration, listing or qualification of the           shares of Class
B Common Stock covered by the Option upon any exchange or under           any foreign,
federal, or local law or practice, or the consent or approval of           any
governmental regulatory body, is necessary or desirable as a condition to           the
exercise of the Option, the Option may not be exercised in whole or in part
          unless and until such registration, listing, qualification, consent or approval
          shall have been effected or obtained free of any conditions not acceptable to
          the Committee.  

8.    Plan
Controls. The terms contained in the Plan are incorporated into and           made a
part of this Agreement and this Agreement shall be governed by and           construed in
accordance with the Plan. In the event of any actual or alleged           conflict
between the provisions of the Plan and the provisions of this           Agreement, the
provisions of the Plan shall be controlling and determinative.  

9.    Successors.
This Agreement shall be binding upon any successor of the           Company, in
accordance with the terms of this Agreement and the Plan.  

10.    Notice.
Notices and communications under this Agreement must be in           writing and either
personally delivered or sent by registered or certified           United States mail,
return receipt requested, postage prepaid. Notices to the           Company must be
addressed to Journal Communications, Inc., 333 West State           Street, Milwaukee,
Wisconsin, 83203, Attn: Chief Accounting Officer, or any           other address
designated by the Company in a written notice to Optionee. Notices           to Optionee
will be directed to the address of Optionee then currently on file           with the
Company, or at any other address given by Optionee in a written notice           to the
Company.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]