AMERICAN MEDIA INC - FORM 10-K - EX-10.38 - EXHIBIT - August 15, 2014

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EX-10.29 - EXHIBIT - AMERICAN MEDIA INCexhibit1029_amendmentno2xb.htm
EX-10.28 - EXHIBIT - AMERICAN MEDIA INCexhibit1028_amendmentno1xb.htm
EX-10.15 - EXHIBIT - AMERICAN MEDIA INCexhibit1015_amendmentno4xp.htm
EX-10.32 - EXHIBIT - AMERICAN MEDIA INCexhibit1032_amendmentno5xb.htm
EX-10.26 - EXHIBIT - AMERICAN MEDIA INCexhibit1026_amendmentno9xh.htm
EX-10.27 - EXHIBIT - AMERICAN MEDIA INCexhibit1027_bonnettemploym.htm
EX-10.30 - EXHIBIT - AMERICAN MEDIA INCexhibit1030_amendmentno3xb.htm
EX-10.36 - EXHIBIT - AMERICAN MEDIA INCexhibit1036_amendmentno9xb.htm
EX-10.31 - EXHIBIT - AMERICAN MEDIA INCexhibit1031_amendmentno4xb.htm
EX-10.34 - EXHIBIT - AMERICAN MEDIA INCexhibit1034_amendmentno7xb.htm
EX-10.37 - EXHIBIT - AMERICAN MEDIA INCexhibit1037_amendmentno10x.htm
EX-10.35 - EXHIBIT - AMERICAN MEDIA INCexhibit1035_amendmentno8xb.htm
EX-10.33 - EXHIBIT - AMERICAN MEDIA INCexhibit1033_amendmentno6xb.htm
EXCEL - IDEA: XBRL DOCUMENT - AMERICAN MEDIA INCFinancial_Report.xls
EX-32 - EXHIBIT - AMERICAN MEDIA INCami-ex32_20140331.htm
EX-10.46 - EXHIBIT - AMERICAN MEDIA INCexhibit1046_amendmentno2xr.htm
EX-21.1 - EXHIBIT - AMERICAN MEDIA INCexhibit211_listingofsubsid.htm
EX-12.1 - EXHIBIT - AMERICAN MEDIA INCexhibit121_ratioofearnings.htm
EX-31.1 - EXHIBIT - AMERICAN MEDIA INCami-ex311x20140331.htm
10-K - 10-K - AMERICAN MEDIA INCami-20140331x10k.htm
EX-10.39 - EXHIBIT - AMERICAN MEDIA INCexhibit1039_amendmentno12x.htm
EX-10.45 - EXHIBIT - AMERICAN MEDIA INCexhibit1045_waivertocredit.htm
EX-31.2 - EXHIBIT - AMERICAN MEDIA INCami-ex312x20140331.htm


Exhibit 10.38



AMENDMENT NO. 11, dated as of November 1, 2011,
to that Employment Agreement dated April 1, 2002 (the "Agreement")
by and between David Bonnett (the "Executive") and
AMERICAN MEDIA, INC. (the "Company").

Effective as of the date first written above, the Agreement is hereby amended as follows:

1.    Paragraph 1a of the Employment Agreement is hereby deleted and the following substituted therefore:

Employment Term. The Company shall employ Executive until March 31, 2014 (the "Employment Term") on the terms and subject to the conditions set forth in this Agreement. The Agreement shall be considered effective as of April 1, 2002 (the "Effective Time").

2.    Paragraph 2a of the Employment Agreement is hereby deleted and the following substituted therefore:

Effective April 1, 2012, Executive shall serve as Executive Vice President/Chief Information Officer. In such position, Executive shall report directly to the Company President/CEO (or such other person designated by the Company President/CEO) and shall have such duties and authority as shall be determined from time to time by the Company's President/CEO.

3.    Paragraph 3 of the Employment Agreement is hereby deleted and the following substituted therefore:

Base Salary. Effective April 1, 2012 during Executive's employment by the Company, the Company shall pay Executive a base salary (the "Base Salary") at the annual rate of $310,000.00 (Three Hundred Ten Thousand Dollars and Zero Cents), payable in regular installments in accordance with the Company's usual payment practices.

4.    The following shall be added to Paragraph 4 of the Employment Agreement:

Digital Media EBITDA/Revenue Bonus. Executive will be eligible to participate in a Digital Media EBITDA/Revenue incentive plan effective for FY12, FY13 and FY14, similar to the plan in effect with different targets/objectives as determined by the Company.

For FY13 and beyond, Executive will receive at least $65,000.00 (Sixty Five Thousand Dollars and Zero Cents) in total incentive compensation including all incentive plans.

All other terms and conditions of Your Employment Agreement and any subsequent amendments of that Employment Agreement shall remain in full force and effect (unless modified above).

IN WITNESS WEREOF, the parties hereto have duly executed this Amendment No. 11 as of the date first written above.

                                
AMERICAN MEDIA, INC.
 
 
 
 
By:
/s/ Daniel Rotstein
 
 
 
Daniel Rotstein
 
 
 
 
 
 
 
/s/ David Bonett
 
 
 
David Bonnett
 
 



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