Common use of Pension Enhancement Clause in Contracts

Pension Enhancement. If, as of your date of termination, you have not yet attained both age 55 and at least 10 “years of service” as defined in the Executive Supplemental Retirement Plan (the “SERP”), then, regardless of any provision in the SERP or the Executive Severance Plan to the contrary, you shall receive a “Pension Enhancement”, payable in a lump sum within 20 calendar days after the Release Deadline, that is intended to provide you with all retirement benefits that would have been available to you if your employment had terminated after you attained both age 55 and 10 years of service. The “Pension Enhancement” will be calculated as follows: the excess, if any, of (1) the actuarial equivalent of the benefit under the Scripps Networks Interactive Pension Plan or its successor (the “Pension Plan”) and the Scripps Networks Interactive, Inc. Supplemental Executive Retirement Plan or its successor (the “SERP”) (utilizing actuarial assumptions and factors no less favorable to you than the most favorable of those in effect under the Pension Plan for computing lump sum benefit payments at any time during the Term) that you would have received under the terms of those plans as in effect on January 1, 2012, or if more favorable to you, on your termination of employment, if your employment had continued for a number of years (or fractions thereof) in the period commencing on ▇▇▇▇▇▇ ▇▇▇▇▇▇ September 1, 2013 the day immediately following your date of termination and ending on the date that you would have attained both age 55 with at least 10 “years of service” (within the meaning of the SERP as in effect on January 1, 2012), assuming for this purpose that: (x) your age and vesting service (but not your benefits service) is increased by the number of years that you are deemed to be so employed, and (y) the rate of base salary and bonus for each year that you are deemed to be so employed shall be determined by reference to your Annual Salary and Annual Incentive, over (2) the actuarial equivalent of your actual benefit, if any, under the Pension Plan and the SERP (utilizing actuarial assumptions and factors no less favorable to you than the most favorable of those in effect under the Pension Plan for computing lump sum benefit payments at any time during the Term) as of your date of termination.

Pension Enhancement. If, as of your date of termination, you have not yet attained both age 55 and at least 10 “years of service” as defined in the Executive Supplemental Retirement Plan (the “SERP”), then, regardless of any provision in the SERP or the Executive Severance Plan to the contrary, you shall receive a “Pension Enhancement”, payable in a lump sum within 20 calendar days after the Release Deadline, that is intended to provide you with all retirement benefits that would have been available to you if your employment had terminated after you attained both age 55 and 10 years of service. The “Pension Enhancement” will be calculated as follows: Lo▇▇ ▇▇▇▇▇▇ July 1, 2017 the excess, if any, of (1) the actuarial equivalent of the benefit under the Scripps Networks Interactive Pension Plan or its successor (the “Pension Plan”) and the Scripps Networks Interactive, Inc. Supplemental Executive Retirement Plan or its successor (the “SERP”) (utilizing actuarial assumptions and factors no less favorable to you than the most favorable of those in effect under the Pension Plan for computing lump sum benefit payments at any time during the Term) that you would have received under the terms of those plans as in effect on January 1, 2012, or if more favorable to you, on your termination of employment, if your employment had continued for a number of years (or fractions thereof) in the period commencing on ▇▇▇▇▇▇ ▇▇▇▇▇▇ September 1, 2013 the day immediately following your date of termination and ending on the date that you would have attained both age 55 with at least 10 “years of service” (within the meaning of the SERP as in effect on January 1, 2012), assuming for this purpose that: (x) your age and vesting service (but not your benefits service) is increased by the number of years that you are deemed to be so employed, and (y) the rate of base salary and bonus for each year that you are deemed to be so employed shall be determined by reference to your Annual Salary and Annual Incentive, over (2) the actuarial equivalent of your actual benefit, if any, under the Pension Plan and the SERP (utilizing actuarial assumptions and factors no less favorable to you than the most favorable of those in effect under the Pension Plan for computing lump sum benefit payments at any time during the Term) as of your date of termination. The pension enhancement benefits set forth in this paragraph 8(e)(iii) shall be payable to you upon a qualified termination that occurs prior to your 55th birthday, notwithstanding any earlier expiration of the Term of this Agreement.

Pension Enhancement. If, as of your date of termination, you have not yet attained both age 55 and at least 10 “years of service” as defined in the Executive Supplemental Retirement Plan (the “SERP”), then, regardless of any provision in the SERP or the Executive Severance Plan to the contrary, you shall receive a “Pension Enhancement”, payable in a lump sum within 20 calendar days after the Release Deadline, that is intended to provide you with all retirement benefits that would have been available to you if your employment had terminated after you attained both age 55 and 10 years of service. The “Pension Enhancement” will be calculated as follows: the excess, if any, of (1) the actuarial equivalent of the benefit under the Scripps Networks Interactive Pension Plan or its successor (the “Pension Plan”) and the ▇▇▇▇ ▇▇▇▇▇▇ February 19, 2015 Scripps Networks Interactive, Inc. Supplemental Executive Retirement Plan or its successor (the “SERP”) (utilizing actuarial assumptions and factors no less favorable to you than the most favorable of those in effect under the Pension Plan for computing lump sum benefit payments at any time during the Term) that you would have received under the terms of those plans as in effect on January 1, 2012, or if more favorable to you, on your termination of employment, if your employment had continued for a number of years (or fractions thereof) in the period commencing on ▇▇▇▇▇▇ ▇▇▇▇▇▇ September 1, 2013 the day immediately following your date of termination and ending on the date that you would have attained both age 55 with at least 10 “years of service” (within the meaning of the SERP as in effect on January 1, 2012), assuming for this purpose that: (x) your age and vesting service (but not your benefits service) is increased by the number of years that you are deemed to be so employed, and (y) the rate of base salary and bonus for each year that you are deemed to be so employed shall be determined by reference to your Annual Salary and Annual Incentive, over (2) the actuarial equivalent of your actual benefit, if any, under the Pension Plan and the SERP (utilizing actuarial assumptions and factors no less favorable to you than the most favorable of those in effect under the Pension Plan for computing lump sum benefit payments at any time during the Term) as of your date of termination. The pension enhancement benefits set forth in this paragraph 8(e)(iii) shall be payable to you upon a qualified termination that occurs prior to your 55th birthday, notwithstanding any earlier expiration of the Term of this Agreement.