American Media Operations Inc Watch

from 10-Q 28 pages American Media Operations, Inc. $21,245,380 Aggregate Principal Amount of 9% Senior Pik Notes Due 2013 $300,000,000 Aggregate Principal Amount of 14% Senior Subordinated Notes Due 2013 American Media, Inc. 5,694,480 Shares of American Media, Inc.’s Class a Common Stock Purchase Agreement

from 10-Q 1 page American Media, Inc. Newsstand Net Profit Plan FY 2009 Mike Porche

from 10-Q 3 pages American Media, Inc. EBITDA Incentive Plan FY 2009 Michael Porche

from 10-K 2 pages August 27, 2007 Mr. Michael Porche President Distribution Services Inc. Dear Mike: We Are Pleased to Offer You the Following Bonus Package for FY 2008. in Developing This Package, We Seek to Fully Align Your Goals With the Goals of Ami. Target Bonus Is $87,500.00 for FY 2008. • Hit $*** Newsstand Net Profits Earn 50% of Targeted Bonus ($43,750.00). • Hit $*** Newsstand Net Profits Earn 75% of Targeted Bonus ($65,625.00). • Hit $*** Newsstand Net Profits Earn 100% of Targeted Bonus ($87,500.00). • Hit $*** Newsstand Net Profits Earn $125% of Targeted Bonus ($109,375.00). • Hit $*** Newsstand Net Profit Earn 150% of Targeted Bonus ($131,250.00) All Bonuses Targets Are in Relationship of the Budget for Newsstand Net Versus the Actual Newsstand Net Profit Earned by Ami (See Attachment “A”). the Following Is a Description of the Term, Newsstand Net Profit: • Newsstand Net Includes the Newsstand Profit for Each Title of the Company. Newsstand Profit Is the Net Newsstand Revenue Less Direct Newsstand Costs. There Is a Separate Magazine Newsstand P&L, Which Backs Up Every Line on the Statement. • Newsstand Net Profit Provides You Financial Incentive to Negotiate the Best Deal Possible for Wholesaler Claims, Promotions, Discounts, Rda and Racking Costs. for Example, if We Spend More or Less on Terminal Promotions, This Impacts Newsstand Net Profit. • Newsstand Net Is Charged for Ami’s Unsold Copies at a Standard Annual Rate. This Provides an Incentive to Minimize Unsold Copies, While Maximizing Our Sale. • Newsstand Net Also Includes the Overall Profit of Dsi

from 10-K 4 pages American Media, Inc. EBITDA Incentive Plan FY 2008 Michael Porche

from 10-K 7 pages American Media, Inc. Magazine EBITDA/Star Newsstand Incentive Plan FY 2008 Bonnie Fuller

from 10-K 4 pages American Media, Inc. EBITDA Incentive Plan FY 2008 John Miller

from 10-K 4 pages Amendment No. 2 Dated as of December 20, 2007, to That Employment Agreement Dated October 22, 2004 (The “Agreement”) by and Between Michael Porche (The “Executive”) and Distribution Services, Inc. (“Dsi”), a Subsidiary of American Media Operations, Inc. (The “Company” or “Ami”) Effective as of the Date First Written Above (The “Amendment Effective Date”), the Agreement Is Hereby Amended as Follows: 1. Paragraph 1a of the Agreement Is Hereby Deleted and the Following Substituted Therefor: Employment Term. the Company Shall Employ Executive Until December 31, 2009 (The “Employment Term”) on the Terms and Subject to the Conditions Set Forth in This Agreement. the Agreement Shall Be Considered Effective as of December 22, 2003 (The “Effective Time”). 2. Paragraph 4 of the Agreement Is Hereby Deleted and the Following Substituted Therefor

from 10-K 1 page Amendment No. 1, Dated as of November 1, 2007, to That Employment Agreement Dated December 18, 2003 (The “Agreement”) by and Between Michael Porche (The “Executive”) and Distribution Services, Inc. (The “Company”). Effective as of the Date First Written Above, the Agreement Is Hereby Amended as Follows: 1. Paragraph 1a of the Agreement, as Amended, Is Hereby Deleted and the Following Substituted Therefore: Employment Term. the Company Shall Employ Executive Until December 31, 2009 (The “Employment Term”) on the Terms and Subject to the Conditions Set Forth in This Agreement. the Agreement Shall Be Considered Effective as of December 22, 2003 (The “Effective Time”). All Other Terms and Conditions of Executive’s Employment Agreement and Any Subsequent Amendments of That Employment Agreement Shall Remain in Full Force and Effect. in Witness Whereof, the Parties Hereto Have Duly Executed This Amendment No. 1 as of the Date First Written Above. Distribution Services, Inc. By: /S/ Daniel Rotstein 11/3/07 Daniel Rotstein Date /S/ Michael Porche 11/2/07 Michael Porche Date

from 10-K 9 pages Employment Agreement

from 10-K 1 page Effective as of the Date First Written Above, the Agreement Is Hereby Amended as Follows: 1. Paragraph 1a of the Agreement, as Amended, Is Hereby Deleted and the Following Substituted Therefore: Employment Term. the Company Shall Employ Executive Until December 31, 2008 (The “Employment Term”) on the Terms and Subject to the Conditions Set Forth in This Agreement. the Agreement Shall Be Considered Effective as of January 9, 2006 (The “Effective Time”). All Other Terms and Conditions of Executive’s Employment Agreement and Any Subsequent Amendments of That Employment Agreement Shall Remain in Full Force and Effect. in Witness Whereof, the Parties Hereto Have Duly Executed This Amendment No. 1 as of the Date First Written Above. American Media Operations, Inc. By: /S/ David Pecker 12/10/07 Date /S/ John Miller 12/10/07 John Miller Date

from 8-K 6 pages January 17, 2008 Mr. Dean Durbin via Email: Dear Dean: It Is My Pleasure to Confirm the Offer Extended to You to Join American Media Operations, Inc. Material Components of the Offer Agreed To, Are: Position Title: Executive Vice President/Chief Financial Officer Start Date: January 21, 2008 Employment Term: Employment Commences on January 21, 2008 and Terminates March 31, 2009 Base Salary: $500,000.00 (Five Hundred Thousand Dollars and Zero Cents) Per Year, Payable in Bi-Weekly Installments

from 8-K/A 19 pages Consent Agreement

from 8-K/A 29 pages Consent Agreement

from 8-K 19 pages Consent Agreement

from 8-K 29 pages Consent Agreement

from 8-K 149 pages Amendment and Waiver, Dated as of April 16, 2007

from 10-K 9 pages Employment Agreement

from 10-K 10 pages Employment Agreement

from 10-K 1 page Amendment No. 1, Dated as of September 12, 2006, to That Employment Agreement Dated November 1, 2004 (The “Agreement”) by and Between Kevin Hyson (The “Executive”) and American Media Operations, Inc. (The “Company”). Effective as of the Date First Written Above, the Agreement Is Hereby Amended as Follows: 1. Paragraph 1a of the Agreement, as Amended, Is Hereby Deleted and the Following Substituted Therefore: Employment Term. the Company Shall Employ Executive Until April 17, 2008 (The “Employment Term”) on the Terms and Subject to the Conditions Set Forth in This Agreement. the Agreement Shall Be Considered Effective as of November 1, 2004 (The “Effective Time”). All Other Terms and Conditions of the Agreement and Any Subsequent Amendments of the Agreement Shall Remain in Full Force and Effect. in Witness Whereof, the Parties Hereto Have Duly Executed This Amendment No. 1 as of the Date First Written Above. American Media Operations, Inc. By: /S/ David Pecker David Pecker By: /S/ Kevin Hyson Kevin Hyson