SEPARATION AGREEMENT AND RELEASE
Meredith Corporation (“Meredith”) and Jack Griffin (“Employee”) hereby enter into this Agreement and in
consideration for and contingent upon the respective promises made by each of them herein, they hereby agree as
1. Employee's employment relationship with Meredith will end, effective August 6, 2010 (“Effective Date”) and
Employee's base salary, less applicable withholdings and deductions, will be paid through that date.
2. Except as expressly set forth herein, as of the Effective Date, Employee is fully relieved of and released from
his duties, obligations and authority to act for or on behalf of Meredith, including, but not limited to, his
obligation not to compete, as set forth under Section 10.4 of the Employment Agreement entered into
between Employee and Meredith on March 9, 2008 as amended on August 24, 2009 (“Employment
Agreement”); and the Employment Agreement and all plans and agreements referenced therein are
hereby rendered null and void, except as expressly provided herein.
3. On or before August 6, 2010, Employee will be paid One Million Two Hundred Fifty-Six Thousand,
Three Hundred and One Dollars, ($1,256,301.00), minus applicable withholding and deductions,
in full and final satisfaction of his FY2010 MIP bonus.
4. On or before August 6, 2010, Employee will be paid, One Hundred Twenty-Five Thousand Dollars
($125,000), minus applicable withholdings and deductions, in full and final satisfaction for any claims
associated with Employee's FY2011 compensation, except for that compensation and consideration
otherwise expressly provided for in this Agreement.
5. In return for his release of any and all claims under the Age Discrimination in Employment act of 1967, as
amended by the Older Workers' Benefit Protection Act (see paragraph 7.8 herein), Employee will be
paid the equivalent of his existing base pay, and a pro rata share (equal to Nine Thousand Three Hundred