Document:

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PRINCIPAL AMOUNT:  $48,300,000                   LOAN DATE:  NOVEMBER 7, 2000
INTEREST RATE: 15.8% (COMPOUNDED QUARTERLY)      MATURITY DATE: UPON DEMAND NOT
                                                 TO EXCEED 7 YEARS FROM THE LOAN
                                                 DATE

                               PROMISSORY NOTE

     FOR VALUE RECEIVED, the undersigned, SALEM COMMUNICATIONS CORPORATION
("Maker") agrees as follows:

     1.  Maker promises to pay to SALEM COMMUNICATIONS HOLDING CORPORATION
("Payee") at 4880 Santa Rosa Road, Suite 300, Camarillo, California, or at
such other place as Payee shall direct, FORTY EIGHT MILLION THREE HUNDRED
THOUSAND DOLLARS ($48,300,000) or such amount as may then be outstanding,
together with interest thereon, upon the written demand of Payee. Any unpaid
interest hereunder shall be treated as additional principal and interest
thereon shall be compounded quarterly.

         (a)  The rate of interest ("Interest Rate") on the principal amounts
owed pursuant to this Promissory Note ("Note") shall be 15.8% which is to
accrue in the first three years as paid-in-kind in the form of additional
principal and thereafter in the form of cash pay; provided, under no
circumstances will the interest rate on this Note be greater than the maximum
amount of interest allowed by applicable law.

         (b)  Subject to the terms and conditions of the Credit Agreement,
Maker will pay this loan upon demand. The inclusion of specific default
provisions or rights of Payee shall not preclude Payee's right to declare
payment of all principal and interest under this Note due upon Payee's demand.

     2.  The unpaid principal amount of this Note, together with all interest
accrued thereon shall, at the option of Payee, become immediately due and
payable in case any one of the following events occur (an "Event of Default"):

         2.1  Maker shall commence any case, proceeding or other action under
any existing or future law of any jurisdiction, domestic or foreign, relating
to bankruptcy, insolvency, reorganization, composition, arrangement,
readjustment of debt, dissolution, liquidation of relief or debtors.

         2.2  Maker shall commence any case, proceeding or other action
seeking appointment of a receiver, trustee, custodian or other similar
official for it or for all or any substantial part of its assets; or (ii)
Maker shall make a general assignment for the benefit of its creditors; or
(ii) there shall be commenced against Maker any case, proceeding or other
action of a nature referred to in clause (i), above, which (A) results in an
order for relief or any such adjudication or appointment or (B) remains
undismissed, undischarged or unhanded for a period of sixty (60) days; or
(iv) there shall be commenced against Maker any case, proceeding or other
action seeking issuance of a warrant of attachment, execution or similar
process against all or any

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substantial part of its assets which results in the entry of an order or any
such relief which shall not have been vacated, discharged, or stayed or
bonded pending appeal within sixty (60) days from the entry thereof; or (b)
Maker shall take any action in furtherance of, or indicating its consent to,
approval of, or acquiescence in, any of the acts set forth in clause (i),
(ii), (iii) or (iv) above; or (vi) Maker shall be unable to, or shall admit
in writing its inability to, pay its debts as they become due; or (vii) Maker
shall conceal, remove, or permit to be concealed or removed, any part of its
property, with intent to hinder, delay or defraud its creditors or any of
them, or make or suffer a transfer of any of its property which may be
fraudulent under any bankruptcy, fraudulent conveyance or similar law, or
shall make any transfer of its property to or for the benefit of a creditor
at a time when other creditors similarly situated have not been paid, or
shall suffer or permit, while insolvent, any creditor to obtain a lien upon
any of its property through legal proceedings which is not vacated within
sixty (60) days from the date thereof.

     3.  No delay or omission on the part of Payee in exercising any right or
option herein given to it shall impair such right or option or be considered
as a waiver thereof or acquiescence in any default hereunder.

     4.  Maker waives presentment, demand, notice of dishonor and protest and
consents to any and all extensions and renewals hereof without notice.

     5.  This instrument shall be construed in accordance with the laws of
the State of California.

     6.  This instrument may be prepaid in whole or in part at any time
without penalty.

     7.  Maker, its directors, officers, employees, members, and agents will
have no personal liability for any deficiency under this instrument.

     8.  In the event a suit or action is filed to enforce this Note or with
respect to this Note, the prevailing party shall be reimbursed by the other
party for all costs and expenses incurred in connection with the suit or
action, including without limitation reasonable attorneys' fees at the trial
level and on appeal.

IN WITNESS WHEREOF, the Maker has executed this instrument as of this 7th day
of November, 2000.

PAYEE:

SALEM COMMUNICATIONS CORPORATION

_________________________________
Jonathan L. Block
Vice President<PAGE>

                                                                   EXHIBIT 10(k)

                               [CHASE LETTERHEAD]

March 20, 2001

Mr. William J. Murphy
Executive Vice President and CFO
Computer Horizons Corp.
49 Old Bloomfield Avenue
Mountain Lakes, NJ 07046-1495

Dear Mr. Murphy:

We are pleased to advise you that based upon your annual audited financial
statements for the fiscal year ended 12/31/99, The Chase Manhattan Bank (the
"Bank") has approved a $20,000,000 line of credit for Computer Horizons Corp.
Our officers may, in their discretion, make short term loans to Computer
Horizons Corp. on such terms as are mutually agreed upon between us, from time
to time.

As this line is not a commitment, credit availability is, in addition, subject
to your execution and delivery of such documents as the Bank deems appropriate
including, without limitation, a General Security Agreement and UCC 1 financing
statements, and the receipt and continuing satisfaction with current financial
information, which information will be furnished to the Bank as it may from time
to time reasonably request. This line of credit expires on May 31,2001. Please
execute the enclosed note and have it returned to me at your earliest
convenience to finalize this matter. Upon execution, this note will replace the
$20,000,000 note previously executed by you on December 1, 2000.

Please feel free to contact me should you have any questions.

Sincerely,

/s/ Eileen McEvoy Higgins
-------------------------
Eileen McEvoy Higgins
Vice President

cc:   Michael J. Shea

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                                      NOTE

$20,000,000                                                   New York, New York
                                                                  March 20, 2000

      1. For value received, the undersigned, by this promissory note (the
"Note") unconditionally promises to pay to the order of THE CHASE MANHATTAN BANK
(the "Bank"); at any of its banking offices in New York, New York, in lawful
money of the United States and immediately available funds, the principal amount
of TWENTY MILLION DOLLARS ($20,000,000) or the aggregate unpaid principal
balance of all advances made by the Bank to the undersigned, whichever is less,
together with interest on each advance, in like money and funds, at a rate
determined by the Bank in its sole discretion at the time of such advance. Each
advance shall be payable on the maturity date thereof, as agreed between the
Borrower and the Bank on the date of such advance, provided that no advance may
mature after May 31, 2001 (the "Final Maturity Date"). Interest shall be payable
on the maturity date of each advance and upon any prepayment of any advance.

      2. If all or any portion of any advance shall not be paid when due
(whether as stated, by acceleration or otherwise) such advance shall bear
interest, for the period from the due date of such advance until the maturity
date thereof, at the rate per annum which is equal to 2% above the rate which
would otherwise be applicable hereunder and thereafter until the unpaid
principal amount thereof shall be paid in full, at the rate per annum which is
equal to 2% above the rate of interest publicly announced by the Bank from time
to time in New York, New York as its prime rate. Each change in the interest
rate hereon resulting from a change in the prime rate of the Bank shall become
effective as of the opening of business on the day on which such change in such
prime rate occurs. Interest shall be calculated on the basis of a 360 day year
for actual days elapsed. Anything in this Note to the contrary notwithstanding,
the Bank shall not be permitted to charge or receive, and the undersigned shall
not be obligated to pay, interest in excess of the maximum rate from time to
time permitted by applicable law; provided, however, if the maximum rate
permitted by law changes, the rate hereunder shall change, without notice to the
undersigned, .on the same day the maximum rate permitted by law changes.

      3. The undersigned may not prepay any advance unless it shall reimburse
the Bank on demand for any loss incurred or to be incurred by it in the
reemployment of the funds released by any such prepayment. Such loss shall be
the difference, as determined by the Bank, between the cost of obtaining the
funds for the advance or advances (or portion thereof) prepaid and any lesser
amount which may be realized by the Bank in reemploying the funds received in
prepayment during the period from the date of prepayment to the maturity date of
each advance prepaid.

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      4. If any amount becomes due and payable under this Note on a Saturday,
Sunday or other day on which commercial banks are authorized to close under the
laws of the State of New York, the maturity thereof shall be extended to the
next succeeding business day and interest thereon shall be payable during such
extension at the rate applicable to the Note prior to such extension.

      5. The undersigned shall pay all reasonable out-of-pocket costs and
expenses incurred by the Bank in connection with the preparation, development
and execution of this note and any amendment, supplement or modification hereto,
including, without limitation, the fees and disbursements of counsel to the Bank
(which may include allocation of the cost of in-house counsel to the Bank).

      6. Upon occurrence, with respect to any maker, endorser or guarantor of
any of the following: default in payment of this Note or any other obligation of
any nature or description to the Bank (collectively, the "Obligations"); any
other violation of any covenant or condition of any of the Obligations; calling
a meeting of any creditors; filing of a voluntary or involuntary petition under
the Federal Bankruptcy Code which, in the case of an involuntary petition, is
not dismissed, discharged or bonded within 60 days of the date of such petition;
insolvency; entry of a judgment; failure to pay or remit any tax when assessed
or due unless contested in good faith by appropriate proceedings, for which
adequate reserves are being provided; death (in the case of an individual),
termination (in the case of a partnership) or dissolution (in the case of a
corporation); granting a security interest in any property OTHER THAN IN FAVOR
OF THE BANK OR PNC BANK, NATIONAL ASSOCIATION (THE "PERMITTED LIENS"); THE
OCCURRENCE OF AN "EVENT OF DEFAULT" UNDER ANY AGREEMENTS CREATING SUCH PERMITTED
LIENS; suspension or liquidation of usual business; failing to furnish financial
information or to permit inspection of books or records; making any
misrepresentation to the Bank in obtaining credit; or, in the Bank's opinion,
impairment of financial responsibility; then the Obligations shall be due and
payable immediately without notice or demand.

      7. The undersigned agrees to indemnify the Bank for, and to hold the Bank
harmless from, any loss or expense which the Bank may sustain or incur,
including any interest payment by the Bank to lenders of funds borrowed by it in
order to make or maintain the loans evidenced hereby as a consequence of (a)
default by the undersigned in payment of THE principal amount of, or interest
on, this Note AND (B) PAYMENT BY THE UNDERSIGNED ON A DAY OTHER THAN THE
MATURITY DATE OF ANY ADVANCE AS A RESULT OF ACCELERATION OF THE OBLIGATIONS
HEREUNDER OR OTHERWISE. This covenant shall survive payment of this Note.

      8. Each advance, and each payment made on account of the principal
thereof, shall be endorsed by the holder on an attachment hereto on the date
such advance is made or a payment in immediately available funds is received.
This Note shall be used to record all advances and payments of principal made
hereunder until it is surrendered to the undersigned by the Bank and it shall
continue to be used even though there may be periods prior to such surrender
when no amount of principal or interest is owing hereunder.

                                       2

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      9. THIS NOTE IS SECURED BY THE COLLATERAL DESCRIBED IN A CERTAIN SECURITY
AGREEMENT (GENERAL PURPOSE) DATED MARCH 23, 2001 AND EXECUTED BY THE BORROWER IN
FAVOR OF THE BANK, TOGETHER WITH ANY AND ALL AMENDMENTS, MODIFICATIONS, AND
SUPPLEMENTS THERETO OR SUBSTITUTES THEREFOR, AND REFERENCE IS MADE TO SUCH
AGREEMENT FOR A FULL DESCRIPTION OF THE TERMS AND CONDITIONS THEREOF.

      10. The Bank shall have a continuing lien and/or right of set-on on
deposits (general and special) and credits with the Bank of every maker,
endorser and guarantor, and may apply all or part of same to the Obligations
(whether contingent or unmatured), at any time or times, without notice. The
Bank shall have a continuing lien on all property of every maker, endorser and
guarantor and the proceeds thereof held or received by or for the Bank for any
purpose. Any notice of disposition of property shall be deemed reasonable if
mailed at least 5 days before such disposition to the last address of such
maker, endorser or guarantor on the Bank's records. Each maker, endorser and
guarantor agrees to pay the costs and expenses (including, without limitation,
reasonable attorneys' fees) of enforcing the Obligations. Each maker, endorser
and guarantor waives protest and, in any litigation (whether or not relating to
the Obligations) in which the Bank and any of them shall be adverse parties,
waives the right to interpose any set--off or counterclaim of any nature or
description and any defense based upon any statute of limitations or any claim
of laches. Time for payment extended by law shall be included in the computation
of interest.

      11. The undersigned hereby irrevocably (a) submits, in any legal
proceeding relating to this Note, to the non-exclusive IN PERSONAM jurisdiction
of any state or United States court of competent jurisdiction sitting in the
State of New York and agrees to suit being brought in any such court; (b) agrees
to service of process in any such legal proceeding by mailing of copies thereof
(by registered or certified mail, if practicable) postage prepaid, or by telex.
to the undersigned at the last known address of the undersigned on the books of
the Bank. and (c) agrees that nothing contained herein shall affect the Bank's
right to effect service of process in any other manner permitted by law; and the
undersigned and the Bank hereby irrevocably waive, in any such legal proceeding,
trial by jury.

      12. This Note shall be governed by, and construed in accordance with, the
laws of the State of New York.

                                                COMPUTER HORIZONS CORP.

                                                By:  /s/ Michael J. Shea
                                                   -----------------------------
                                                   Title: V.P. Controller

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