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SNI > SEC Filings for SNI > Form 8-K on 5-Mar-2014All Recent SEC Filings

Show all filings for SCRIPPS NETWORKS INTERACTIVE, INC.

Form 8-K for SCRIPPS NETWORKS INTERACTIVE, INC.


5-Mar-2014

Change in Directors or Principal Officers, Financial Statement


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Scripps Networks Interactive, Inc. (the "Company") amended its employment agreement with Kenneth W. Lowe, Chairman, President and Chief Executive Officer effective March 3, 2014. The amendment extended the term of the agreement and Mr. Lowe's employment to December 31, 2016, with an automatic renewal of two successive one year terms unless the Company provides prior notice of its intention not to renew. The amendment also increased Mr. Lowe's base salary to $1,420,000.

The foregoing summary of the employment agreement amendment is qualified in its entirety by reference to the full text of the employment agreement amendment, a copy of which is attached as Exhibit 10.4 to this Form 8-K and is incorporated herein by reference.

Mr. Lowe also was granted Restricted Share Units with a value of $4 million, effective March 3, 2014, that generally vest 50% on December 31, 2015 and 50% on December 31, 2016 provided he remains in the continuous employment of the Company, with accelerated vesting upon his involuntary termination (i.e., termination without cause or for good reason, or due to death or disability) or upon a change in control. Mr. Lowe will forfeit the unvested portion of the award upon his voluntary termination without good reason.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

10.1    Employment Agreement between the Company and Kenneth W. Lowe [incorporated
        by reference to Scripps Networks Interactive, Inc. Current Report on Form
        8-K dated March 29, 2010].

10.2    Amendment to Employment Agreement between the Company and Kenneth W. Lowe
        [incorporated by reference to Scripps Networks Interactive, Inc. Current
        Report on Form 8-K dated October 6, 2010].

10.3    Amendment No. 2 to Employment Agreement between the Company and Kenneth W.
        Lowe [incorporated by reference to Scripps Networks Interactive, Inc.
        Current Report on Form 8-K dated August 1, 2012].

10.4    Amendment No. 3 to Employment Agreement between the Company and Kenneth W.
        Lowe.


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