Management Annual Incentive Plan (2003)Full Document 

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                          JOURNAL COMMUNICATIONS, INC.

                                  Plan Purpose


The purpose of the Journal Communications Inc. Management Annual Incentive Plan
is to:

o    Reward key individuals for achieving pre-established financial and
     non-financial goals that support Journals annual business
     objectives/mission that will enhance the employee-owners' investment.

o    Encourage and reinforce effective teamwork and individual contributions
     toward Journal's stated goals.

o    Provide an incentive opportunity incorporating an appropriate level of risk
     that will enable the Company to attract, motivate and retain outstanding



The following words and phrases have the respective meanings indicated below
unless a different meaning is plainly implied by the context:

o    "Plan" means the plan set forth in this Journal Communications Inc.
     Management Annual Incentive Plan, as it may be amended from time to time,
     and known as the "Management Annual Incentive Plan."

o    "Journal" means Journal Communications Inc., a multifaceted media
     communications company based in Milwaukee, Wisconsin, involved in newspaper
     publishing, commercial printing, broadcast operations, telecommunications,
     direct marketing and disk/CD-ROM and DVD duplication and fulfillment.

o    "Subsidiary" means any subsidiary that is part of Journal Communications

o    "Compensation Committee" or "Committee" means a committee of non-employee
     individuals who have been appointed by the Board of Directors and
     authorized to assume designated responsibilities and perform designated
     functions in regard to executive compensation decisions.

o    "Eligible employee" or "employee" or "participant" means any management
     employee of Journal Communications Inc. who is in a position designated by
     the CEO and approved by the Compensation Committee as eligible to receive
     an incentive award under the plan.

o    "Performance Levels" refers to the corporate, subsidiary and individual
     level of a participant's performance measures.

o    "Incentive Opportunity Ranges" means the midpoint and the percentage above
     and below the midpoint which awards may be paid based on the degree to
     which the performance goals are achieved in a given plan year. The
     incentive ranges are fixed from a minimum of 5O% to a maximum of 2OO% of
     the midpoint incentive opportunity.

o    "CEO" means Chief Executive Officer.

o    "Incentive award" or "award" or "incentive" means the amount to be paid, in
     the form of cash, to an eligible employee pursuant to this Plan.

o    "Plan Year" means one 12-month period beginning each January 1 and ending
     each December 31.

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