Amendment No. 1 to The New York Times Company Savings Restoration Plan

Summary

This amendment, effective January 1, 2011, updates The New York Times Company Savings Restoration Plan. The ERISA Management Committee changes how interest is credited to participants' accounts, now applying interest daily based on a specified financial index. If benefit payments are delayed, interest will continue to accrue until distribution. The amendment does not change the benefits provided by the plan, only the administrative process for crediting interest.

EX-10.1 2 nytex101.htm AMENDMENT NO. 1 TO THE NEW YORK TIMES COMPANY SAVINGS RESTORATION PLAN WebFilings | EDGAR view

EXHIBIT 10.1

THE NEW YORK TIMES COMPANY SAVINGS RESTORATION PLAN

AMENDMENT NO. 1

THIS INSTRUMENT made as of the 28^th day of March, 2011, by the ERISA Management Committee (the “Committee”) of The New York Times Company (the “Company”).

W I T N E S S E T H

WHEREAS, the Company maintains The New York Times Company Savings Restoration Plan, as amended from time to time (the “Plan”), for the benefit of its eligible employees; and

WHEREAS, pursuant to Section 7.2 of the Plan, the Committee is authorized to adopt administrative amendments that do not result in a change of benefits; and

WHEREAS, the Committee desires to amend the Plan, effective January 1, 2011, to change the frequency with which interest is credited to Participants' Accounts;

NOW, THEREFORE, the Plan is hereby amended, effective January 1, 2011, as follows:



1.	Section 3.2,	“Interest,” is hereby deleted in its entirety and the following substituted in its place:

	“ 3.2	Interest. A Participant's Account shall be credited with interest daily based on the
	yield of the Barclays Capital Long Credit index as of the last business day in October of the preceding
	Plan Year or based on such successor index as may be selected by the EMC.”

2.	Section 4.2 is hereby amended by adding the following sentence to the end of the second paragraph:

	“In the event payment of the Participant's benefit is delayed, the Participant's Account shall continue
	to be credited with interest in accordance with Section 3.2 until the date of distribution.”

IN WITNESS WHEREOF, the Committee has caused this amendment to be executed by a duly authorized member as of the date first set forth above.



ERISA MANAGEMENT COMMITTEE
By:	/s/ R. Anthony Benten
	R. Anthony Benten
	Chairman