Amendment 2002-1 to Pulitzer Inc. Annual Incentive Plan

Summary

This amendment updates the Pulitzer Inc. Annual Incentive Plan, effective January 1, 2002, by changing the main performance measure for incentive awards from "operating cash flow" to "operating profit." The definition of "operating profit" is added, and all references in the plan are updated accordingly. The amendment is executed by Pulitzer Inc. and signed by Alan G. Silverglat.

EX-10.39.1 4 c75764exv10w39w1.txt AMENDMENT 2002-1 OF ANNUAL INCENTIVE PLAN EXHIBIT 10.39.1 AMENDMENT 2002-1 OF THE PULITZER INC. ANNUAL INCENTIVE PLAN Effective as of January 1, 2002, the Pulitzer Inc. Annual Incentive Plan is amended in the following respects in order to change the principal performance criterion from "operating cash flow" to "operating profit": 1. The definition of "Operating Cash Flow" is deleted from Section 2 of the Plan and the following new definition is inserted in its place: "Operating Profit" means the operating revenue less the operating expenses of the Company on a consolidated basis or of a Subsidiary, as shown on the Company's financial statements." 2. The references to "Operating Cash Flow" in Section 6.2 of the Plan are changed to "Operating Profit". PULITZER INC. By: /s/ Alan G. Silverglat ----------------------- Alan G. Silverglat