SEC Contract Filing

Filing Date: 2021-09-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.18
<SEQUENCE>5
<FILENAME>exhibit1018catherinelevene.htm
<DESCRIPTION>EXHIBIT 10.18 LEVENE RETENTION AGREEMENT
<TEXT>
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<title>Document</title></head><body><div id="icecd5620ad7d4e22a4f411c640332889_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"><br><br>Exhibit 10.18</font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">Meredith Corporation</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">August 10, 2021 </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Catherine Levene</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">RE&#58; Retention, Assignment and Acknowledgment Agreement</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Dear Catherine&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">As you know, Meredith Corporation (&#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:112%">Meredith</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;) recently entered into an Agreement and Plan of Merger, with Gray Television, Inc. (&#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:112%">Gray</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;), Gray Hawkeye Stations, Inc., a wholly-owned subsidiary of Gray, and Meredith dated May 3, 2021 (as amended, the &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:112%">Merger Agreement</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;). As a result of the Merger contemplated by the Merger Agreement (the &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:112%">Merger</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;), Gray will acquire our local media group (&#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:112%">LMG</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;) business segment and Meredith will become a wholly-owned subsidiary of Gray. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Immediately prior to the closing of the Merger, Meredith will separate its LMG and national media group (comprising its Digital and Magazine reporting segments) (&#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:112%">NMG</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;) business segments into two independent companies by transferring NMG and its corporate functions into Meredith Holdings Corporation, an Iowa corporation and newly formed wholly-owned subsidiary of Meredith (&#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:112%">New Meredith</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;) through a series of transactions (the &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:112%">Separation</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;) and the stock of New Meredith will then be distributed to Meredith&#8217;s shareholders (the &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:112%">Spin-Off</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;). After the Spin-Off, New Meredith will be a stand-alone, publicly traded company owned 100% by pre-merger Meredith shareholders. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">I.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:1