Document:

Executive Automobile Program

 Exhibit 10.18 
  
 MEDIA GENERAL, INC. 
  
 EXECUTIVE AUTOMOBILE PROGRAM 
  
 The Media General Executive Automobile Program applies to all company provided vehicles assigned to top management as part of their total compensation
package. The Program does not include vehicles purchased solely on the basis of business travel requirements, normally in the areas of sales, marketing, distribution or multiple site management. Executive automobiles are taxable as compensation to
the individual only to the extent each is not supported annually by business use. The record keeping and tax valuation procedures related to these vehicles is described in detail in the Media General Accounting and Procedures Manual. 
  
 Participation within the Executive Automobile Program is not automatic and
each new participant must be specifically approved under the corporate program. New automobile purchases, as all other vehicle purchases, must be approved on a capital outlay request by Media General. 
  
 Purchasing a Company Vehicle  
  
 Any executive assigned a company vehicle may negotiate the purchase directly
with the new car dealer. Every attempt should be made to purchase the car at the best price obtainable. Once an estimated or final negotiated price is determined, the participant should seek prompt COR approval for the purchase, assuming the
selection is within the Program guidelines. Once receiving approval, payment may be delivered to the dealer and the transaction completed. The final dealer invoice should exhibit the entire transaction negotiated, including the vehicle model and
options included, and sent to Corporate Finance to be attached to the previously approved COR. Under no circumstances may the individual add “personal money” to the car purchase in order to enhance the car model purchased. 
  
 It is a good practice for the purchaser of a new car to “validate”
the negotiated price with his company’s transportation or vehicle department, or in lieu of having access to one, the Richmond transportation department will perform this service upon request. If an individual is uncomfortable negotiating the
best price for the car selected, each of these departments should be willing to do it upon request, and may, in fact, be able to achieve a lower purchase price than the individual alone is able to obtain. 
  
 Typically, one negotiates for the best price on the new car itself without
using a traded vehicle, and then separately obtains a fair trade-in value of the used vehicle. Regardless of the approach, the dealer should be instructed to reflect separately the actual discounted price of the new vehicle and the actual trade
value of the used vehicle on the final invoice. 
  
 Maximum Purchase Price
 
  
 Executives authorized for company automobiles are
assigned maximum spending caps for new purchases. This dollar cap is intended to provide a certain class or category of automobile to each executive, and may not be 
  

 Page 1 of 3 

 exceeded. The limit will be adjusted periodically to allow for price inflation. The dollar limit applies to the total
negotiated sales price of the new car, including applicable license or processing fees, but before state sales taxes and before trade-in allowance. 
  
 Qualifying Automobiles  
  
 The purchase price cap for each level of the program is intended to provide an acceptable class of automobile for each participant. The purchase limits
are reviewed each year based on new model prices. The top Level I is designed to accommodate the purchase of a fully equipped vehicle such as the Cadillac CTS, Lexus ES 300, or a Volkswagen Touareg. The lower Level III allows for purchase of a fully
equipped automobile such as the Buick Regal, Ford Taurus or Toyota Camry; or the purchase of a standard equipped larger vehicle such as the Chrysler Concorde or Mercury Grand Marquis. Level II accommodates purchases in between these categories,
e.g., a fully equipped Buick LeSabre, Jeep Grand Cherokee, or a Pontiac Bonneville. 
  
 The vehicle purchase under each level is ultimately determined by the specified spending cap, and the automobile make and model is a secondary consideration. Thus, if a selected model experiences a significant price
change in future years, the participant may not be able to replace his current vehicle with that same model. 
  
 As you know, vehicles purchased are funded by the Company and remain the Company’s property throughout the assigned four-year period. Not only does
the Company assume the risk of resale value at the end of its useful period, but as a company asset it must meet reasonable overall guidelines as to application of its intended purpose. Therefore, although it is the program’s objective to allow
each executive to select a “vehicle of choice”, certain constraints are applied in this selection process: 
  

	 	•	Used cars, demonstrators, special purchase situations are prohibited. 

  

	 	•	Trucks and special purpose vehicles must be justified on an as-needed exception basis only, approved in advance of purchase. 

  

	 	•	Unique car styles that limit business use or diminish eventual disposal value (e.g., convertibles, two-seater sports cars, inappropriate options or ornaments) are prohibited.

  
 Car Telephones  
  
 Company purchase or reimbursement of a car telephone and/or its on-going
monthly charge is prohibited unless approved in advance by the Corporate office based on its specific business purpose. This justification requires more than just the occasional need to “call the office” when driving the automobile.

  
 An individual is also not permitted to install a mounted car
telephone at his own expense in lieu of this approval. 
  

 Page 2 of 3 

 Trade-in or Replacement of Vehicle 
  
 The normal retention period of any executive vehicle is 48 months. Shorter periods are allowed only with written
justification of excessive servicing cost or mileage, accompanied with the new capital request. 
  
 At the time of trade or replacement, a fair market value is assigned to the vehicle using the amount denoted as “Average Trade-in” per the
N.A.D.A. official used car guide for the specific vehicle, options and mileage. The employee may elect to purchase the vehicle himself at this price directly from the Company; otherwise he should trade the car to the dealer for the new car
purchased, attempting to obtain maximum value for the asset disposal. If the trade-in value allowed is significantly less than the N.A.D.A. average trade-in value as described above, the loss of value should be explained on the capital request.

  
 If a friend or associate desires to purchase the automobile
instead of the assigned individual, then payment for the used car must be made by the executive directly and resold by him to the third party. Each company may establish its own program to allow for other employees to make buy-out offers for the
used vehicles, as long as the program is equitable to all employees and the price is not below the N.A.D.A. average trade-in value. 
  
 Use of Vehicle 
  
 The employee is always the primary driver of the company vehicle. Immediate family members over age 21 can drive the vehicle with permission of the
employee. This would include driving the vehicle to auto repair shops for service and as relief driver while traveling on an extended trip. It could also be used in emergency situations when another vehicle is not available. 
  
 Administration  
  
 Any questions regarding this program should be directed to the Director of Budget and Planning in Corporate Finance.

  

 Page 3 of 3Executive Financial Planning and Income Tax Program

 Exhibit 10.19 
  
 MEDIA GENERAL, INC. 
 EXECUTIVE FINANCIAL PLANNING 
 and 
 INCOME TAX PROGRAM 
  
 Purpose: 
  
 The Executive Financial
Planning and Income Tax Program provides an executive perquisite that supports the financial health of the Company’s executives. This Program provides the executive with a reputable and professional resource that is highly experienced in
executive financial planning and income tax preparation. 
  
 Policy
Administration Responsibilities: 
  
 Media General’s
Compensation Department is responsible for coordinating this program. Ernst & Young has been selected as Media General’s preferred provider of this executive benefit because of their solid reputation, as well as their knowledge of Media
General and its executive compensation plans. (For consideration of company-paid services with another firm, the executive must present a request to Media General’s Compensation Department prior to securing services.) 
  
 Media General, Ernst & Young and the executive are responsible for
following all procedures in this policy. This includes ensuring that any services charged to Media General are covered in the policy. 
  
 Employee Participation: 
  
 Salaried executive employees are eligible to participate in this program. From those eligible, Media General will select executives for participation.
Selection will be based on the employee’s position, job responsibilities, value of their services, and other pertinent factors. 
  
 Coverage Terms: 
  
 New participants are eligible for coverage beginning in the tax year they became a participant. For example, an executive selected for participation in
2003 would be eligible for income tax preparation for the tax year 2003 (but not eligible for tax preparation related to tax year 2002). 
  
 Coverage will immediately cease upon termination if the executive is under age 55. Coverage also ceases immediately, regardless of the executive’s
age, if the executive is terminated by the Company due to criminal activity or any activity deemed by the Company to be detrimental to the Company. 
  
 Retiring participants, defined in this program as age 55 or older, will be covered in the tax year of retirement as well as the tax year immediately
following the year of retirement. Covered services will also be provided to the participant’s surviving spouse for this same time period if the executive was over age 55 at the time of death. 

 Cost Limits: 
  
 The following cost limits will apply. 
  

	 	•	Financial Planning, Future Retirement and Estate Planning: 

  

	 	•	Coverage for these services will utilize a specific 5-year period, following the numbering pattern of the calendar for all participants. For example, the first 5-year period will be
measured from years 2001 to 2005, the second 5-year period will be years 2006 to 2010, and so forth. 

  

	 	•	In any one year of this specific 5-year period, Media General will cover up to $10,000 in services. In the other 4 years of the 5-year period, Media General will cover up to $2,000.

  

	 	•	Expenses / coverage limits will be applied to the year that services are incurred (versus paid). Unused credits are not carried forward, and will be forfeited as of December 31 each
year. Participation expires on December 31 of the year following retirement, and will expire immediately at separation for terminations other than retirement. 

  

	 	•	Income Tax Services: 

  

	 	•	A credit of $7,500 is earned each year. 

  

	 	•	Unused credits will be carried forward but may not exceed a maximum balance of $15,000. 

  

	 	•	Expenses / coverage limits will be applied to the year that services are incurred (versus paid). Unused credits will expire on December 31 of the year following retirement, and will
expire immediately at separation for terminations other than retirement. 

  
 Covered Services: 
  
 The Program covers
the following services. 
  

	 	•	Financial planning to maximize returns from company benefit plans such as stock options, salary deferral plans and executive life insurance programs

  

	 	•	Investment advice on portfolio design, including analysis of risk tolerance, target rate of return and appropriate diversification and asset allocation

  

	 	•	Retirement and long range cash flow (including consideration of outside business interests as related to retirement and estate planning) 

  

	 	•	Comprehensive estate planning 

  

	 	•	Wills, trusts, estate planning documents, etc. 

  

	 	•	Planning for charitable giving programs 

  

	 	•	Income tax planning necessary to effectively prepare income tax returns 

  

	 	•	Income tax return preparation for participant (and those of a spouse where married filing separate returns results in reduced tax liabilities) 

  

	 	•	Gift tax returns 

  

	 	•	Income tax projections and preparation of quarterly federal and state estimated tax vouchers 

  

	 	•	IRS and state examinations and inquiries assistance, as needed 

  

	 	•	Incorporation of income from outside businesses in participant’s personal income tax return (however, partnership or corporate returns for participant’s outside businesses
is not covered) 

 Excluded Services: 
  
 The following is a partial listing of services that are not covered by this Program. Participants may not apply
unused credit balances for Excluded Services. Ernst & Young may handle these items at the executive’s personal expense. 
  

	 	•	Children, dependents or household employees’ tax returns, legal documents, wills, etc. 

  

	 	•	Estate tax return of participant (or spouse), even if the participant dies while still employed 

  

	 	•	Partnership or corporate returns for outside businesses of participant 

  

	 	•	Tax returns or planning for businesses not related to Media General 

  

	 	•	Partnership investments 

  
 Income Taxes: 
  
 The competitive market value of the services received will be included as W-2 income. The executive is responsible for income taxes. 
  
 Payment Processing: 
  
 Ernst & Young will directly invoice Media General for covered services. Any other invoices for covered services may be submitted for direct payment
(or reimbursement). All invoices MUST be submitted to Media General’s Compensation Department for payment. This will ensure appropriate record keeping and tax treatment. 
  
 Policy Exceptions: 
  
 In general, the provisions defined and illustrated in this document will be followed without exception. Questions regarding this policy may be directed to
the Media General Compensation Manager. All requests for exceptions to this policy must be submitted in writing to Media General for review and approval prior to seeking financial planning or tax preparation services.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00079-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00079-of-00352.parquet"}]]