Amendment 2003-1 to Pulitzer Inc. Supplemental Executive Benefit Pension Plan

Summary

This amendment updates the Pulitzer Inc. Supplemental Executive Benefit Pension Plan, effective January 1, 2003. It revises the definition of "Accrued Benefit," removes a provision related to offsets for retirement savings plan balances, and changes the vesting schedule so that employees become fully vested after five years of service. The changes do not affect participants whose employment ended before January 1, 2003.

EX-10.5.8 3 c75764exv10w5w8.txt AMENDMENT TO SUPPLEMENTAL EXECUTIVE BENEFIT PLAN EXHIBIT 10.5.8 AMENDMENT 2003-1 OF THE PULITZER INC. SUPPLEMENTAL EXECUTIVE BENEFIT PENSION PLAN Effective January 1, 2003, the Pulitzer Inc. Supplemental Executive Benefit Pension Plan (the "Plan") is amended as set forth below. 1. The introductory language in Paragraph G. of Article I of the Plan is amended to read as follows: "Accrued Benefit" as of a specified date, with respect to a Participant, means an annual benefit equal to (1) minus (2), as below:". 2. Part (3) of Paragraph G. of Article I (which provides an offset for account balances under the Pulitzer Inc. Retirement Savings Plan) is deleted. 3. The vesting schedule in Paragraph A. of Article V is amended in its entirety to read as follows: Years of Service Vested Percentage ---------------- ----------------- Less than 5 0% 5 or more 100% 4. The foregoing amendments do not apply to Participants or former Participants whose employment with the Company and its subsidiaries terminated prior to January 1, 2003. PULITZER INC. By: /s/ Alan G. Silverglat ---------------------- Alan G. Silverglat