Exhibit 10.1

JOINDER AGREEMENT

      JOINDER AGREEMENT dated as of January 19, 2005, by the undersigned, Lamar
Obie Corporation, (the “Additional Subsidiary Guarantor”), in favor of JP Morgan
Chase Bank, as administrative agent for the Lenders party to the Credit
Agreement referred to below (in such capacity, together with its successors in
such capacity, the “Administrative Agent”).

      Lamar Media Corp. (formerly Lamar Advertising Company), a Delaware
corporation (the “Borrower”), and certain of its subsidiaries (collectively, the
“Existing Subsidiary Guarantors” and, together with the Borrower, the “Securing
Parties”) are parties to a Credit Agreement dated March 7, 2003 (as modified and
supplemented and in effect from time to time, the “Credit Agreement”, providing,
subject to the terms and conditions thereof, for extensions of credit (by means
of loans and letters of credit) to be made by the lenders therein (collectively,
together with any entity that becomes a “Lender” party to the Credit Agreement
after the date hereof as provided therein, the “Lenders” and, together with
Administrative Agent and any successors or assigns of any of the foregoing, the
“Secured Parties”) to the Borrower in an aggregate principal or face amount not
exceeding $1,200,000,000 (which, in the circumstances contemplated by
Section 2.01(d) thereof, may be increased to $1,700,000,000). In addition, the
Borrower may from time to time be obligated to one or more of the Lenders under
the Credit Agreement in respect of one or more Swap Agreements under and as
defined in the Credit Agreement (collectively, the “Swap Agreements”).

      In connection with the Credit Agreement, the Borrower, the Existing
Subsidiary Guarantors and the Administrative Agent are parties to the Pledge
Agreement dated March 7, 2003 (the “Pledge Agreement”) pursuant to which the
Securing Parties have, inter alia, granted a security interest in the Collateral
(as defined in the Pledge Agreement) as collateral security for the Secured
Obligations (as so defined). Terms defined in the Pledge Agreement are used
herein as defined therein.

      To induce the Secured Parties to enter into the Credit Agreement, and to
extend credit thereunder and to extend credit to the Borrower under Swap
Agreements, and for other good and valuable consideration the receipt and
sufficiency of which are hereby acknowledged, the Additional Subsidiary
Guarantor has agreed to become a party to the Credit Agreement and the Pledge
Agreement as a “Subsidiary Guarantor” thereunder, and to pledge and grant a
security interest in the Collateral (as defined in the Pledge Agreement).

      Accordingly, the parties hereto agree as follows:

      Section 1. Definitions. Terms defined in the Credit Agreement are used
herein as defined therein.

      Section 2. Joinder to Agreements. Effective upon the execution and
delivery hereof, the Additional Subsidiary Guarantor hereby agrees that it shall
become a “Subsidiary Guarantor” under and for all purposes of the Credit
Agreement and the Pledge Agreement with all the rights and obligations of a
Subsidiary Guarantor thereunder. Without limiting the generality of the
foregoing, the Additional Subsidiary Guarantor hereby:

   (i) jointly and severally with the other Subsidiary Guarantors party to the
Credit Agreement guarantees to each Secured Party and their respective
successors and assigns the prompt payment in full when due (whether at stated
maturity, by acceleration or otherwise) of all Guaranteed Obligations in the
same manner and to the same extent as is provided in Article III of the Credit
Agreement;

   (ii) pledges and grants the security interests in all right, title and
interest of the Additional Subsidiary Guarantor in all Collateral (as defined in
the Pledge Agreement) now owned or hereafter acquired by the Additional
Subsidiary Guarantor and whether now existing or hereafter coming into existence
provided for by Article III of the Pledge Agreement as collateral security for
the Secured Obligations and agrees that Annex 1 thereof shall be supplemented as
provided in Appendix A hereto;

 

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   (iii) makes the representations and warranties set forth in Article IV of the
Credit Agreement and in Article II of the Pledge Agreement, to the extent
relating to the Additional Subsidiary Guarantor or to the Pledged Equity
evidenced by the certificates, if any, identified in Appendix A hereto; and

   (iv) submits to the jurisdiction of the courts, and waives jury trial, as
provided in Sections 10.09 and 10.10 of the Credit Agreement.

The Additional Subsidiary Guarantor hereby instructs its counsel to deliver the
opinions referred to in Section 6.10(a)(iii) of the Credit Agreement to the
Secured Parties.

 

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      IN WITNESS WHEREOF, the Additional Subsidiary Guarantor has caused this
Joinder Agreement to be duly executed and delivered as of the day and year first
above written.

             
 
      Lamar Obie Corporation,
 
      a Delaware corporation
 
           

      By:   /s/ Sean E. Reilly

           

          Sean E. Reilly, President
 
           
Attested:
 
           
By:
  James R. McIlwain        

           

  James R. McIlwain, Secretary        
 
           
Accepted and agreed:
 
           
JP MORGAN CHASE BANK,
as Administrative Agent
 
           
By:
  /s/ Joan M. Fitzgibbon        

           

  Title: Managing Director        

 

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The undersigned hereby respectively pledges and grants a security interest in
the Pledged Equity and evidenced by the certificate listed in Appendix A hereto
and agrees that Annex 1 of the above-referenced Pledge Agreement is hereby
supplemented by adding thereto the information listed on Appendix A.

Lamar Media Corp., Issuee

By: /s/ Kevin P. Reilly, Jr.              
          Kevin P. Reilly, Jr.
Title: Chairman of the Board and
          Chief Executive Officer

 

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Supplement to Annex 1

Appendix A to Joinder Agreement

                              Pledgor Ownership   Issuer   No. Shares   Cert.
No.   %
 
Lamar Media Corp.
  Lamar Obie Corporation     1,000       2       100  
 

 

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SCHEDULE OF ADDITIONAL ISSUEES

          Issuee   Date of Agreement    
Lamar Obie Corporation
  January 19, 2005    

SCHEDULE OF ADDITIONAL SUBSIDIARY GUARANTORS

          Guarantor*   Date of Agreement    
O.B. Walls, Inc.
  January 19, 2005    
 
       
Select Media, Inc.
  January 19, 2005    
 
       
Obie Media Limited
  January 19, 2005    
 
       
Obie Billboard, LLC
  January 19, 2005    

*   The Supplement to Annex 1/Appendix A to the Joinder Agreement of each
guarantor are set forth below in their entirety.

 

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Supplement to Annex 1

Appendix A to Joinder Agreement

                              Pledgor Ownership   Issuer   No. Shares   Cert.
No.   %
 
Lamar Obie
Corporation
  O.B. Walls, Inc.     100       9       100  
 

 

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Supplement to Annex 1

Appendix A to Joinder Agreement

                              Pledgor Ownership   Issuer   No. Shares   Cert.
No.   %
 
Lamar Obie
Corporation
  Select Media, Inc.     100       2       100  
 

 

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Supplement to Annex 1

Appendix A to Joinder Agreement

                          Pledgor Ownership   Issuer   No. Shares   Cert. No.  
%
 
Lamar Obie
Corporation
  Obie Media Limited (n/k/a Lamar Transit Advertising Canada Ltd.)   65 shares
of Common stock, no par value     5       65  
 

 

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Supplement to Annex 1

Appendix A to Joinder Agreement

                          Pledgor Ownership   Issuer   No. Shares   Cert. No.  
%
 
Lamar Obie
Corporation
  Obie Billboard, LLC   1000 membership
units     2       100