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                                EMPLOYMENT AGREEMENT
     
     
     
          THIS EMPLOYMENT AGREEMENT (this "Agreement") is entered into effective
     as of February 14, 1996, between Chancellor Broadcasting Company, a
     Delaware corporation ("Holdings"), Chancellor Radio Broadcasting Company, a
     Delaware corporation (the "Broadcasting Subsidiary"), and Rick Eytcheson
     (the "Employee").
     
                              W I T N E S S E T H:
     
          WHEREAS, Holdings and the Broadcasting Subsidiary (collectively, the
     "Company") are engaged in the ownership and operation of radio broadcast
     stations KZLA-FM and KLAC-AM in the Los Angeles, California market; KSAN-
     FM, KNEW-AM, KBGG-FM and KABL-AM in the San Francisco, California market;
     KHYL-FM, KFBK-AM and KGBY-FM in the Sacramento, California market; and
     KGGI-FM and KMEN-AM in the Riverside-San Bernardino, California market
     (collectively, the "Stations");
     
          WHEREAS, the Company desires to employ the Employee in an executive
     capacity to assume supervisory responsibilities of the Stations;
     
          WHEREAS, the Employee desires to be employed by the Company in said
     capacity;
     
          WHEREAS, the Employee is currently employed by the Company pursuant to
     an Employment Agreement dated January 10, 1994, which the parties hereto
     desire to supersede by the execution and delivery of this Agreement; and
     
          WHEREAS, the parties hereto desire to set forth in writing the terms
     and conditions of their understandings and agreements.
     
          NOW THEREFORE, in consideration of the foregoing, of the mutual
     promises contained herein and of other good and valuable consideration, the
     receipt and sufficiency of which are hereby acknowledged, the parties
     hereto, intending to be legally bound, do hereby agree as follows:
     
     
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               1.   TERM OF EMPLOYMENT.  Unless earlier terminated in accordance
     with the terms of this Agreement, the period of the Employee's employment
     under this Agreement (the "Employment Term") shall commence on February 14,
     1996 (the "Employment Date") and shall continue until February 14, 1998,
     provided that the Employment Term shall automatically be renewed for
     successive one-year terms unless the Company terminates this Agreement by
     written notice to the Employee within 30 days prior to the expiration of
     the then-current term.
     
               2.   DUTIES.  The Employee shall serve as an Executive Vice
     President of the Company and as Regional Manager of the Stations, with such
     authority, duties, and responsibilities as are commensurate with such
     positions, subject to the authority and direction of the Chief Executive
     Officer and Board of Directors of the Company.  During the term of this
     Agreement the Employee shall devote his full business time and effort to
     the diligent and faithful performance of his duties hereunder.
     
               3.   COMPENSATION.
     
               3.1  SALARY.  During the Employment Term, the Company shall pay
     the Employee a base salary at an annual rate of $325,000 for a period from
     the Employment Date through the first anniversary of the Employment Date
     and at an annual rate of $342,000 thereafter.  The Employee's base salary
     shall be paid in accordance with the Company's regular payroll procedure,
     but not less frequently than monthly.  The Company shall be entitled to
     withhold from all amounts payable to the Employee under this Agreement all
     taxes and other sums required to be withheld by law.  The Employee shall,
     during the Employment Term, be entitled to participate in the employee
     benefit plans of the Company in accordance with the Company's policies, as
     changed from time to time.
     
               3.2  BONUSES.  During the Employment Term, the Company shall pay
     the Employee an annual bonus of up to 50% of the Employee's Base Salary 
     (the "Broadcast Cash Flow Bonus") for each fiscal year of the Company
     subsequent to 1995, based on the Stations achieving the broadcast cash flow
     projections therefor outlined in Exhibit A attached hereto or otherwise
     established therefor by the Board of Directors of the Company (the "BCF
     Projections"), it being understood that the Employee shall be entitled to
     receive within 20 days after the end of each fiscal quarter in which the
     Stations achieve the BCF Projections therefor, as payment against the


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     Broadcast Cash Flow Bonus for the fiscal year in which such fiscal quarter
     occurred, an amount equaling one-eighth of the maximum possible Broadcast
     Cash Flow Bonus for such fiscal year, with the remaining amount of the
     Broadcast Cash Flow Bonus, if any, to be paid within 60 days after the end
     of such fiscal year.  The BCF Projections will be adjusted to reflect
     acquisitions or dispositions of stations under the supervision of the
     Employee, and the stations under the supervision of the Employee after any
     such acquisition or disposition shall be deemed thereafter to be the
     Stations for all purposes of this Agreement.  In the event the Stations do
     not achieve in any fiscal year the BCF Projections therefor but the
     consolidated broadcast cash flow projection for the Company set forth in
     Exhibit A or otherwise established for such year by the Board of Directors
     of the Company (the "Consolidated BCF Projection") is achieved, the Chief
     Executive Officer, subject to the authority of the Board Of Directors of
     the Company, may elect to pay the Broadcast Cash Flow Bonus to the
     Employee.
     
               3.3  ADDITIONAL BENEFITS.  (a)  The Company will provide the
     Employee with use of an automobile with a value of up to Sixty Thousand
     Dollars ($60,000.00) and shall reimburse the Employee for taxes associated
     with said automobile.
     
               (b)  The Employee shall be given three (3) weeks paid vacation
     each calendar year, as well as personal leave, holiday leave and sick leave
     in accordance with the general practice of the Company.  Said vacation
     shall not be taken for three (3) continuous weeks, but must be taken in
     accordance with the Company's policies, as changed from time to time.
     
               (c)  The Company shall provide the Employee with a membership at
     a tennis, fitness or business lunch club, or similar facility, the use of
     which shall be for business purposes and the annual dues of which shall not
     exceed Five Thousand Dollars ($5,000.00).  The Company shall have the right
     to approve such membership in advance and shall thereafter pay the cost and
     expenses of such membership.  The Employee's membership in said club shall
     automatically terminate upon the termination of his employment for any
     reason.
     
               (d)  The Employee shall be entitled to participate in the
     Company's Stock Award Plan in accordance with the terms thereof and, at the
     discretion of the Board of Directors of the Company, shall be granted
     awards thereunder from time to time.
     

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               4.   TERMINATION OF EMPLOYMENT.  The Employment Term under this
     Agreement shall terminate immediately upon the first to occur of (i) his
     voluntary resignation, (ii) his death, (iii) his disability which renders
     him unable to perform his duties for more than 120 days in any 12-month
     period, (iv) his termination for Cause (as hereinafter defined) or (v) the
     sale of the Stations.  The term "Cause" means (i) the Employee's engaging
     in conduct which is materially damaging to the reputation of the Company or
     which is inappropriate behavior for a senior management employee of the
     Company, (ii) the Employee's inadequate performance of his duties or
     failure to follow the directions of his superior officers or the Board of
     Directors of the Company or (iii) the economic performance of the Stations
     shall be materially unsatisfactory, all of the matters described in the
     foregoing clauses (i) through (iii) to be conclusively determined by the
     Company's Board of Directors acting in good faith.
     
               5.   NONCOMPETITION.
     
               5.1  DURING EMPLOYMENT.  The Employee agrees that during the
     Employment Term, and for one year after the Employment Term terminates, he
     shall not directly or indirectly accept employment with, be an owner or
     investor in, serve as an advisor or consultant to, or otherwise participate
     in any aspect of the radio broadcasting business (AM or FM) within a 50-
     mile radius of the broadcast tower of any Station; PROVIDED, HOWEVER, that
     nothing contained herein will be deemed to prohibit the Employee from
     owning publicly-traded stock or other publicly-traded securities in which
     the Employee's interest does not exceed 1% of the outstanding class of
     securities or from owning a publicly-traded mutual fund or having an
     interest in a publicly-traded trust owning such stock or securities in
     excess of such level so long as the Employee has no direct control over
     those investment decisions.
     
               5.2  AFTER TERMINATION OF EMPLOYMENT.  The Employee agrees that
     if the Employment Term shall terminate for any reason, he shall not,
     directly or indirectly, solicit any employee of the Company (or any of its
     subsidiaries) for employment by any party other than the Company or its
     subsidiaries for a period of three years.
     
               5.3  CONFIDENTIAL INFORMATION AND TRADE SECRETS.  The Employee
     hereby acknowledges that he will have access to and become acquainted with
     various trade secrets and proprietary information of the Company and its
     subsidiaries not available to competitors of the Company or its
     subsidiaries.  The Employee covenants that he will not, directly or
     indirectly, disclose or use such information during the Employment 


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     Term or thereafter, except as is necessary and appropriate in 
     connection with his employment by the Company or its subsidiaries; 
     PROVIDED, HOWEVER, that the Employee's obligations under this Section 
     5.3 shall end as to any information on such date as such information 
     becomes public other than by reason of the Employee's violation of this 
     Section 5.3.
          
               5.4  REMEDIES.  The Employee hereby acknowledges that damages are
     not an adequate remedy for any breach by the Employee of Sections 5.1, 5.2,
     or 5.3 and that the Company shall be entitled to injunctive relief (without
     having to furnish any bond) in respect of any such breach, in addition to
     such other rights and remedies as the Company may have at law or in equity.
     In the event any of the covenants contained in Section 5.1, 5.2, or 5.3
     shall be determined by any court of competent jurisdiction to be too broad
     in scope or too long in duration, the parties intend that such covenant
     shall not be void but shall instead be modified or reformed to the extent
     deemed necessary by such court.
     
               6.   INDEMNITY.  The Company shall indemnify the Employee, in his
     capacity as an officer of the Company, pursuant to Article Ninth of
     Holding's Second Restated Certificate of Incorporation, as in effect on the
     Employment Date.
     
               7.   PAYMENTS UPON DEATH.  In the event of the Employee's death
     during the Employment Term, any accrued and unpaid compensation due the
     Employee pursuant to Section 3 hereof at the time of his death shall be
     paid to the Employee's estate.
     
               8.   GOVERNING LAW.  The validity, interpretation and performance
     of this Agreement shall be governed by the laws of the State of Texas.
     
               9.   NOTICE.  Any written notice required to be given by one
     party to the other party hereunder shall be deemed effective if mailed by
     registered mail:
     
                    To the Company:
     
                    c/o Chancellor Broadcasting Company
                    12655 North Central Expressway
                    Suite 405
                    Dallas, Texas  75243
                    Attention:  Steven Dinetz
     

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                    With a copy to:
     
                    Jeremy W. Dickens
                    Weil, Gotshal & Manges LLP
                    100 Crescent Court
                    Suite 1300
                    Dallas, Texas  75201
     
                    To the Employee at:
     
                    Rick Eytcheson
                    2238 Morley Way
                    Sacramento, California  95864
     
                    with a copy to:
     
                    Ralph Laird
                    Laird & Laird
                    P.O. Box 359
                    Waverly, Indiana  50677
     
     or such other address as may be stated in notice given as hereinbefore
     provided.
     
               10.  SEVERABILITY.  If any one or more of the provisions
     contained in this Agreement shall be held to be invalid, illegal or
     unenforceable in any respect, such invalidity, illegality, or
     unenforceability shall not affect any other provisions hereof.  
     
               11.  SUCCESSORS AND ASSIGNS.  This Agreement shall be binding
     upon and inure to the benefit of the parties hereto and their personal
     representatives, and, in the case of the Company, its successors and
     assigns.  The Company shall be a third party beneficiary of this Agreement.
     
               12.  ENTIRE AGREEMENT.  This Agreement constitutes the full and
     complete understanding and agreement of the parties, supersedes all prior
     understandings and agreements as to terms and conditions of the employment
     of the Employee and cannot be amended, changed, modified or terminated
     without the consent, in writing, of the parties hereto.
     

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               13.  THE EMPLOYEE'S REPRESENTATION.  The Employee hereby
     represents and warrants to the Company that his execution, delivery, and
     performance of this Agreement will not be a breach of any other agreement
     to which the Employee is a party or by which he is bound. 
     





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          IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
     the day and year first above written.
     
     
                              CHANCELLOR BROADCASTING COMPANY
     
     
     
                         By:  
                              ---------------------------------------
                              Name:  Jacques D. Kerrest
                              Title: Senior Vice President and
                                     Chief Financial Officer





                              CHANCELLOR RADIO BROADCASTING
                               COMPANY 
     
     
                         By:  
                              ---------------------------------------
                              Name:  Jacques D. Kerrest
                              Title: Senior Vice President and Chief
                                     Financial Officer
     
     
     
                              EMPLOYEE:
     
     
     

                              RICK EYTCHESON


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