COMPANY SPLIT-DOLLAR INSURANCE AGREEMENT
This AGREEMENT is dated as of March 19, 1999 between the J. STEWART BRYAN, III 1999 IRREVOCABLE TRUST (the
“Trust”) and MEDIA GENERAL, INC. (the “Company”).
RECITALS OF THE PARTIES
A. J. Stewart Bryan, III (the “Employee”) is and has for some time been a valued executive employee and officer of the
Company. The Company desires that the Employee remain in the employ of the Company. The Company, as an inducement to
such continued employment, has agreed to assist the Employee’s family with respect to insurance on the Employee’s life. The
Trust was created by the Employee as of March 19, 1999 for the principal benefit of the Employee’s family.
B. The Trust shall be the owner of certain life insurance policies issued by carriers (the “Insurers”) on the Employee’s
life. Once issued, such policies shall be listed on a schedule that shall be attached to this agreement. This agreement relates to
such policies and any and all supplementary contracts or coverages issued in connection therewith (collectively the “Policies”).
The Company has advised the Employee that the lower of the “P.S. 58” rates or the Insurers’ own rates for one-year term
insurance may be taxable as income to him to the extent the Trust does not annually pay for this economic benefit and that the
split-dollar arrangement may have other tax consequences.
NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, receipt of which is
hereby acknowledged, the parties hereto agree as follows:
1. Payment of Premiums . Except for the premiums (or portions thereof) or other amounts that are paid by or on behalf of
the Trust in the Trust’s sole discretion, all remaining scheduled premiums (and other amounts, if any) hereafter payable on or
under the Policies shall be paid by the Company as they become due and shall be repayable to the Company as provided in this
agreement. The amounts to be paid by or