Common use of Amendment or Termination of the Plan Clause in Contracts

Amendment or Termination of the Plan. The Torstar Board of Directors may, from time to time, amend or terminate the Plan as it shall deem advisable, except that any amendment or termination of the Plan pursuant to this Section H shall not take effect prior to the commencement of the next fiscal year of the Corporation. SCHEDULE “A” The number of full-time equivalent Eligible Participants is arrived at by dividing the number of straight time regular hours paid to permanent full or part-time employees in the fiscal year by the regular full-time hours in a work year by shift and department. Regular Work Week (Hours) Regular Work Week (Shifts) Full-Time Calculation Full-Time Equivale nt Part-Time (3 shift example assuming full shifts) Full-Time Equivalent 37.5 5 37.5/3.75 1 22.5/37.5 0.6 35 5 35/35 1 21/35 0.6 35 4 35/35 1 26.25/35 0.75 34 4 34/34 1 25.5/34 0.75 32 4 32/32 1 24/32 0.75 This formula is then used at the end of the year to calculate FTE’s for that fiscal year. For example, in 1997, total unionized FTE’s were 1,414 under this formula. The cash margin for 1997 was $84,253,000 or 20.9% of revenue which was $402,881,000. Based on that, the profit sharing pool for 1997 would have been as follows:

Amendment or Termination of the Plan. The Torstar Board of Directors may, from time to time, amend or terminate the Plan as it shall deem advisable, except that any amendment or termination of the Plan pursuant to this Section H shall not take effect prior to the commencement of the next fiscal year of the Corporation. SCHEDULE “A” The number of full-time equivalent Eligible Participants is arrived at by dividing the number of straight time regular hours paid to permanent full or part-time employees in the fiscal year by the regular full-time hours in a work year by shift and department. Regular Work Week (Hours) Regular Work Week (Shifts) Full-Time Calculation Full-Time Equivale nt Equivalent Part-Time (3 shift example assuming full shifts) Full-Time Equivalent 37.5 5 37.5/3.75 1 22.5/37.5 0.6 35 5 35/35 1 21/35 0.6 35 4 35/35 1 26.25/35 0.75 34 4 34/34 1 25.5/34 0.75 32 4 32/32 1 24/32 0.75 This formula is then used at the end of the year to calculate FTE’s for that fiscal year. For example, in 1997, total unionized FTE’s were 1,414 under this formula. The cash margin for 1997 was $84,253,000 or 20.9% of revenue which was $402,881,000. Based on that, the profit sharing pool for 1997 would have been as follows:

Amendment or Termination of the Plan. The Torstar Board of Directors may, from time to time, amend or terminate the Plan as it shall deem advisable, except that any amendment or termination of the Plan pursuant to this Section H shall not take effect prior to the commencement of the next fiscal year of the Corporation. SCHEDULE “A” The number of full-time equivalent Eligible Participants is arrived at by dividing the number of straight time regular hours paid to permanent full or part-time employees in the fiscal year by the regular full-time hours in a work year by shift and department. Regular Work Week (Hours) Regular Work Week (Shifts) Full-Time Calculation Full-Time Equivale nt Equivalent Part-Time (3 shift example assuming full shifts) Full-Time Equivalent 37.5 5 37.5/3.75 1 22.5/37.5 0.6 35 5 35/35 1 21/35 0.6 35 4 35/35 1 26.25/35 0.75 34 4 34/34 1 25.5/34 0.75 32 4 32/32 1 24/32 0.75 This formula is then used at the end of the year to calculate FTE’s for that fiscal year. For example, in 1997, total unionized FTE’s were 1,414 under this formula. The cash margin for 1997 was $84,253,000 or 20.9% of revenue which was $402,881,000. Based on that, the profit sharing pool for 1997 would have been as follows:

Amendment or Termination of the Plan. The Torstar Board of Directors may, from time to time, amend or terminate the Plan as it shall deem advisable, except that any amendment or termination of the Plan pursuant to this Section H shall not take effect prior to the commencement of the next fiscal year of the Corporation. SCHEDULE “A” The number of full-time equivalent Eligible Participants is arrived at by dividing the number of straight time regular hours paid to permanent full or part-time employees in the fiscal year by the regular full-time hours in a work year by shift and department. Regular Work Week (Hours) Regular Work Week (Shifts) Full-Time Calculation Full-Full- Time Equivale nt Equiv- alent Part-Time (3 shift example assuming full shifts) Full-Time Equivalent 37.5 5 37.5/3.75 1 22.5/37.5 0.6 35 5 35/35 1 21/35 0.6 35 4 35/35 1 26.25/35 0.75 34 4 34/34 1 25.5/34 0.75 32 4 32/32 1 24/32 0.75 This formula is then used at the end of the year to calculate FTE’s for that fiscal year. For example, in 1997, total unionized FTE’s were 1,414 under this formula. The cash margin for 1997 was $84,253,000 or 20.9% of revenue which was $402,881,000. Based on that, the profit sharing pool for 1997 would have been as follows: