SCRIPPS TAX MATTERS AGREEMENT Dated as of July 30, 2014 by and among THE E. W. SCRIPPS COMPANY, on the one hand, and DESK SPINCO, INC. and BOAT NP NEWCO, INC., on the other handScripps Tax Matters Agreement • July 31st, 2014 • Scripps E W Co /De • Newspapers: publishing or publishing & printing • New York
Page ARTICLE I DEFINITIONS AND STANDARDS SECTION 1.01. Definitions 2 SECTION 1.02. General Interpretive Principles 13 SECTION 1.03. Applicable Standards 14 ARTICLE II U.S. CONSOLIDATED FEDERAL INCOME TAX LIABILITIES SECTION 2.01. Affiliation Years 14 SECTION 2.02. 2015 Taxable Year 15 SECTION 2.03. U.S. Federal Alternative Minimum Tax 17 ARTICLE III U.S. COMBINED STATE AND LOCAL INCOME TAX LIABILITIES SECTION 3.01. Returns Covered 18 SECTION 3.02. Liability of Scripps Spinco 18 SECTION 3.03. Operating Losses 18 SECTION 3.04. Short-Year State and Local Returns 18 SECTION 3.05. Estimated Taxes, Etc 18 SECTION 3.06. Adjustments 19 ARTICLE IV SEPARATE TAX RETURN OBLIGATIONS SECTION 4.01. Scripps Spinco Tax Liability 19 SECTION 4.02. Scripps Tax Liability 19 SECTION 4.03. Separate Return Adjustments 19 ARTICLE V TAX-FREE STATUS OF DISTRIBUTION SECTION 5.01. Tax-Free Status Opinion, Etc 20 SECTION 5.02. Maintaining Status of Active Business 20 SECTION 5.03
EMPLOYEE MATTERS AGREEMENT Dated as of July 30, 2014 by and among The E.W. Scripps Company, Desk Spinco, Inc., Desk NP Operating, LLC, Journal Communications, Inc., Boat Spinco, Inc., and Boat NP Newco, Inc.Employee Matters Agreement • July 31st, 2014 • Scripps E W Co /De • Newspapers: publishing or publishing & printing
JOURNAL TAX MATTERS AGREEMENT Dated as of July 30, 2014 by and among DESK BC MERGER, LLC, as successor in interest to JOURNAL COMMUNICATIONS, INC., and JOURNAL COMMUNICATIONS, INC., on the one hand, and BOAT SPINCO, INC. and BOAT NP NEWCO, INC., on...Tax Matters Agreement • July 31st, 2014 • Scripps E W Co /De • Newspapers: publishing or publishing & printing • New York
Page ARTICLE I DEFINITIONS AND STANDARDS SECTION 1.01. Definitions 2 SECTION 1.02. General Interpretive Principles 12 SECTION 1.03. Applicable Standards 12 ARTICLE II U.S. CONSOLIDATED FEDERAL INCOME TAX LIABILITIES SECTION 2.01. Affiliation Years 13 SECTION 2.02. 2015 Taxable Year 13 SECTION 2.03. U.S. Federal Alternative Minimum Tax 16 ARTICLE III U.S. COMBINED STATE AND LOCAL INCOME TAX LIABILITIES SECTION 3.01. Returns Covered 16 SECTION 3.02. Liability of Journal Spinco 16 SECTION 3.03. Operating Losses 17 SECTION 3.04. Short-Year State and Local Returns 17 SECTION 3.05. Estimated Taxes, Etc 17 SECTION 3.06. Adjustments 18 ARTICLE IV EPARATE TAX RETURN OBLIGATIONS SECTION 4.01. Journal Spinco Tax Liability 18 SECTION 4.02. Scripps Tax Liability 18 SECTION 4.03. Separate Return Adjustments 18 ARTICLE V TAX-FREE STATUS OF DISTRIBUTION SECTION 5.01. Tax-Free Status Opinion, Etc 18 SECTION 5.02. Maintaining Status of Active Business 19 SECTION 5.03. L
MASTER TRANSACTION AGREEMENT Dated as of July 30, 2014 by and among The E. W. Scripps Company, Scripps Media, Inc., Desk Spinco, Inc., Desk NP Operating, LLC, Desk NP Merger Co., Desk BC Merger, LLC, Journal Communications, Inc., Boat Spinco, Inc.,...Master Transaction Agreement • July 31st, 2014 • Scripps E W Co /De • Newspapers: publishing or publishing & printing • New York
Page ARTICLE 1 DEFINITIONS 3 Section 1.01 Definitions 3 Section 1.02 Other Definitional and Interpretative Provisions 27 ARTICLE 2 SEPARATION OF SCRIPPS NEWSPAPER ASSETS; DISTRIBUTION OF SCRIPPS SPINCO 28 Section 2.01 Scripps Pre-Newspaper Distribution Transactions 28 Section 2.02 Timing of Scripps Newspaper Distribution 29 Section 2.03 Transfer of Assets; Assumption of Liabilities 29 Section 2.04 Governmental Approvals; Consents 30 Section 2.05 Termination of Agreements 31 Section 2.06 Scripps Newspaper Distribution 31 ARTICLE 3 SEPARATION OF JOURNAL NEWSPAPER ASSETS; DISTRIBUTION OF JOURNAL SPINCO 32 Section 3.01 Journal Pre-Newspaper Distribution Transactions 32 Section 3.02 Timing of Journal Newspaper Distribution 32 Section 3.03 Transfer of Assets; Assumption of Liabilities 32 Section 3.04 Governmental Approvals; Consents 33 Section 3.05 Termination of Agreements 34 Section 3.06 Journal Newspaper Distribution 34 ARTICLE 4 ORGANIZATION OF NEWCO A
