EXHIBIT 10.5 THE NEW YORK TIMES COMPANY SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (Restated January 1, 1993) AMENDMENT NO. 1 THIS INSTRUMENT made this 1st day of May, 1997, by The New York Times Company (the "Company"). W I T N E S S E T H: WHEREAS, the Company maintains The New York Times Company Supplemental Executive Retirement Plan, as amended from time to time (the "Plan"); WHEREAS, pursuant to Section I of the Plan, the Company has reserved the right, by action of a committee consisting of the Chairman and the President of the Company (the "Committee"), to amend the Plan; and WHEREAS, the Company wishes to amend the Plan to comply with agreements with certain executives; NOW, THEREFORE, the Plan is hereby amended by adding the attached Appendix I at the end thereof. IN WITNESS WHEREOF, The New York Times Company has caused this Amendment to be executed by the Committee as of the date first above written. By /s/ Arthur Ochs Sulzberger -------------------------------- Arthur Ochs Sulzberger, Chairman By /s/ Russell T. Lewis --------------------------- Russell T. Lewis, President APPENDIX I Everything in this Plan to the contrary notwithstanding, the following Participants shall have benefits under this Plan as provided in their respective agreements with the Company as follows: 1. LANCE R. PRIMIS: as per his agreement with the Company dated December 4, 1996. - 2 -