Amendment to the Media General, Inc. ERISA Excess Benefit Plan (Effective May 31, 2009)
This amendment modifies the Media General, Inc. ERISA Excess Benefit Plan by stating that no additional benefits will accrue under the plan after May 31, 2009. It also clarifies that compensation earned after this date will not be considered when calculating benefits for participants or their spouses. The amendment is effective as of May 31, 2009, and applies to all plan participants and their eligible spouses.
Exhibit 10.2
AMENDMENT TO THE
MEDIA GENERAL INC. ERISA EXCESS BENEFIT PLAN
(Excess Benefit Plan)
FIRST: The Introduction to the Excess Benefit Plan is amended, effective May 31, 2009, to add the following sentence as the penultimate sentence in the second paragraph of such Introduction:
No additional benefits shall be accrued under the Plan after May 31, 2009.
SECOND: Article I of the Excess Benefit Plan is amended, effective May 31, 2009, to add the following sentence at the end of Section 1.09 thereof:
Compensation earned after May 31, 2009, shall not be taken into account for purposes of calculating a Participant’s Unrestricted Benefit.
THIRD: Article I of the Excess Benefit Plan is further amended, effective May 31, 2009, to add the following sentence at the end of section 1.10 thereof:
Compensation earned after May 31, 2009, is not taken into account for purposes of calculating the unrestricted Spousal Benefit payable to a Participant’s spouse.
