Document:

FIRST AMENDMENT TO RESTATED CREDIT AGREEMENT

 Exhibit 10.121 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “First
Amendment”), dated as of October 18, 2005, is among NEXSTAR BROADCASTING, INC., a Delaware corporation (the “Borrower”), NEXSTAR BROADCASTING GROUP, INC., a Delaware corporation (the “Ultimate Parent”),
NEXSTAR FINANCE HOLDINGS, INC., the several Lenders (as such term is defined in the hereinafter described Credit Agreement) parties to this First Amendment, and BANK OF AMERICA, N.A., as Administrative Agent for the Lenders (in such capacity, the
“Administrative Agent”). 
 R E C I T A L S: 
 A. The Borrower, the Ultimate Parent, certain of its Subsidiaries from time to time party to the Credit Agreement, the Administrative Agent, UBS
Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as the Co-Syndication Agents, and the several Lenders parties thereto entered into that certain Fourth Amended and Restated Credit Agreement dated as of April 1, 2005 (as the
same may be amended, restated or modified from time to time, the “Credit Agreement”). Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. 
 B. The Borrower has advised the Administrative Agent that it desires to amend the Credit Agreement to modify certain financial covenants under the Credit
Agreement. 
 C. The Majority Revolver Lenders and the Majority Lenders parties to this First Amendment are willing to agree to the
above-described amendment, subject to the performance and observance in full of each of the covenants, terms and conditions, and in reliance upon all of the representations and warranties of the Borrower and the Parent Guarantors, set forth herein.

 NOW, THEREFORE, in consideration of the premises and the covenants, terms and conditions, and in reliance upon the representations
and warranties, in each case contained herein, the parties hereto agree hereby as follows: 
 ARTICLE I 
 Amendments 
 Section 1.01
Amendment to Section 7.09(a). Effective as of the Effective Date (as defined in Section 4.05), Section 7.09(a) of the Credit Agreement is hereby amended to read as follows: 
 (a) Consolidated Total Leverage Ratio. The Consolidated Total Leverage Ratio shall not at any time during any period set forth
below exceed the ratio set forth opposite such period below: 

			
	 Period
	  	Ratio
	 Effective Date through and including September 30, 2005
	  	7.50 to 1.00
	 October 1, 2005 through and including December 31, 2005
	  	8.50 to 1.00
	 January 1, 2006 through and including March 31, 2006
	  	8.00 to 1.00
	 April 1, 2006 through and including June 30, 2006
	  	7.75 to 1.00
	 July 1, 2006 through and including September 30, 2006
	  	7.50 to 1.00
	 October 1, 2006 through and including December 31, 2007
	  	7.00 to 1.00
	 January 1, 2008 through and including December 30, 2008
	  	6.75 to 1.00
	 December 31, 2008 through and including June 30, 2010
	  	6.50 to 1.00
	 July 1, 2010 through and including December 30, 2010
	  	6.25 to 1.00
	 December 31, 2010 and thereafter
	  	6.00 to 1.00

 Section 1.02 Amendment to Section 7.09(b) Effective as of the Effective Date, Section 7.09(b) of
the Credit Agreement is hereby amended to read as follows: 
 (b) Consolidated Senior Leverage Ratio. The Consolidated
Senior Leverage Ratio shall not at any time during any period set forth below exceed the ratio set forth opposite such period below: 
  

			
	 Period
	  	Ratio
	 Effective Date through and including September 30, 2005
	  	5.25 to 1.00
	 October 1, 2005 through and including December 31, 2005
	  	5.50 to 1.00
	 January 1, 2006 through and including June 30, 2006
	  	5.25 to 1.00
	 July 1, 2006 through and including December 30, 2007
	  	5.00 to 1.00
	 December 31, 2007 through and including December 30, 2008
	  	4.75 to 1.00
	 December 31, 2008 through and including December 30, 2009
	  	4.50 to 1.00
	 December 31, 2009 through and including December 30, 2010
	  	4.25 to 1.00
	 December 31, 2010 and thereafter
	  	4.00 to 1.00

 ARTICLE II 
 Conditions Precedent 
 Section 2.01 Conditions Precedent. The parties hereto agree that this
First Amendment and the amendment to the Credit Agreement contained herein shall not be effective until the satisfaction of each of the following conditions precedent: 

 (a) Execution and Delivery of this First Amendment. The Administrative
Agent shall have received a copy of this First Amendment executed and delivered by each of the applicable Credit Parties and by all the Lenders and each of the conditions set forth in clauses (b) through (g) below shall have been
satisfied. 
 (b) Representations and Warranties. Each of the representations and warranties made in this First
Amendment shall be true and correct on and as of the Effective Date as if made on and as of such date, both before and after giving effect to this First Amendment. 
 (c) Notes, Loan Documents. The Administrative Agent shall have received all such Loan Documents as may be deemed necessary or
advisable by the Administrative Agent. 
 (d) Resolutions. The Administrative Agent shall have received a certified
resolution of the Board of Directors of each of the Borrower and Parent Guarantors authorizing the execution, delivery and performance of this First Amendment. 
 (e) Fees and Expenses. The Borrower shall pay the estimated fees, costs and out-of-pocket expenses incurred by counsel to the
Administrative Agent in connection with the preparation, negotiation, execution and delivery of this First Amendment and all transaction contemplated hereby and thereby. 
 (f) Amendment Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender executing this First Amendment
a nonrefundable amendment fee in the amount of 0.10% of the sum of (i) such Lender’s Revolving Commitment plus (ii) such Lender’s Commitments under each Incremental Facility plus (iii) such Lender’s Facility Percentage of the
Aggregate Outstanding Term B Loan Balance. 
 (g) Other Documents and Instruments. The Administrative Agent shall have
received, in form and substance satisfactory to the Administrative Agent and its counsel, such other documents, certificates and instruments as the Administrative Agent shall require. 
 ARTICLE III 
 Representations and Warranties 
 Section 3.01 Representations and Warranties. To induce the Administrative Agent and the several Lenders parties hereto to enter into this First
Amendment and to grant the amendments contained herein, each of the Borrower and the Parent Guarantors represents and warrants to the Administrative Agent and the Lenders as follows: 
 (a) Authorization; No Contravention. The execution, delivery and performance by the applicable Credit Parties of this First
Amendment have been duly authorized by all necessary partnership, corporate or limited liability company action, as applicable, and do not and will not (i) contravene the terms of any Charter Documents of 

 any Credit Party, (ii) conflict with or result in any breach or contravention of, or the creation of any
Lien under, any document evidencing any Contractual Obligation to which any Credit Party is a party or any order, injunction, writ or decree of any Governmental Authority to which any Credit Party is a party or its property is subject, or (iii)
violate any Requirement of Law. 
 (b) Governmental Authorization. No approval, consent, exemption,
authorization or other action by, or notice to, or filing with or approvals required under state blue sky securities laws or by any Governmental Authority is necessary or required in connection with the execution, delivery, performance or
enforcement of this First Amendment. 
 (c) No Default. After giving effect to this First Amendment, no Default or
Event of Default exists under any of the Loan Documents. No Credit Party is in default under or with respect to (i) its Charter Documents or (ii) any material Contractual Obligation of such Person. The execution, delivery and performance of this
First Amendment shall not result in any default under any Contractual Obligation of any Credit Party in any respect. 
 (d)
Binding Effect. This First Amendment and the Credit Agreement as amended hereby constitute the legal, valid and binding obligations of the Credit Parties that are parties thereto, enforceable against such Credit Parties in accordance
with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles of general applicability. 

(e) Representations and Warranties. The representations and warranties set forth in the Credit Agreement and the other Loan
Documents are true and correct in all material respects on and as of the date hereof, after giving effect to the amendments contemplated in this First Amendment, as if such representations and warranties were being made on and as of the date hereof.

 ARTICLE IV 
 Miscellaneous 
 Section 4.01 Ratification of Loan Documents. Except for the specific amendments expressly set
forth in this First Amendment, the terms, provisions, conditions and covenants of the Credit Agreement and the other Loan Documents remain in full force and effect and are hereby ratified and confirmed, and the execution, delivery and performance of
this First Amendment shall not in any manner operate as a waiver of, consent to or amendment of any other term, provision, condition or covenant of the Credit Agreement or any other Loan Document. 
 Section 4.02 Fees and Expenses. The Borrower and the Parent Guarantors jointly and severally agree to pay on demand all reasonable costs and
expenses of the Administrative Agent 

 in connection with the preparation, reproduction, execution, and delivery of this First Amendment, and any other
documents prepared in connection herewith or therewith, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent. 
 Section 4.03 Headings. Article, section and subsection headings in this First Amendment are included herein for convenience of reference only and
shall not constitute a part of this First Amendment for any other purpose or be given any substantive effect. 
 Section 4.04 Applicable
Law. THIS FIRST AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES. 
 Section 4.05 Counterparts and Effective Date. This First Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple separate
counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. This First Amendment shall become effective when the Administrative Agent has received counterparts of this First Amendment
executed by the Borrower, the Parent Guarantors, each of the other Guarantors and the Lenders and each of the conditions precedent set forth in Article II above has been satisfied (the “Effective Date”). 
 Section 4.06 Affirmation of Guarantees and Mission Loan Documents. Notwithstanding that such consent is not required thereunder, each of the
Parent Guarantors and the other Guarantors hereby consent to the execution and delivery of this First Amendment and reaffirm their respective obligations under each of their respective Guaranty Agreements. Furthermore, notwithstanding that such
consent is not required hereunder, each of Borrower and Guarantors (as defined in the Mission Credit Agreement) hereby consents to the execution and delivery of this First Amendment and reaffirm their respective obligations under each of their
respective Mission Loan Documents. 
 Section 4.07 Confirmation of Loan Documents and Liens. As a material inducement to the Lenders
to agree to amend the Credit Agreement as set forth herein, the Borrower, the Guarantors and David S. Smith hereby (i) acknowledge and confirm the continuing existence, validity and effectiveness of the Loan Documents to which they are parties,
including, without limitation the Security Documents and the Liens granted under the Security Documents, (ii) agree that the execution, delivery and performance of this First Amendment shall not in any way release, diminish, impair, reduce or
otherwise adversely affect such Loan Documents and Liens and (iii) acknowledge and agree that the Liens granted under the Security Documents secure (A) the payment of the Obligations under the Loan Documents in the same priority as on the date such
Liens were created and perfected, and (B) the performance and observance by the Borrower and the other Credit Parties of the covenants, agreements and conditions to be performed and observed by each under the Credit Agreement, as amended hereby, and
the Mission Credit Agreement. 

 Section 4.08 References to the Credit Agreement. Upon and during the effectiveness of this First
Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, or words of like import shall mean and be a reference to the Credit Agreement, as amended by this First Amendment. 
 Section 4.09 Final Agreement. THIS FIRST AMENDMENT, TOGETHER WITH THE CREDIT AGREEMENT AND OTHER LOAN DOCUMENTS, REPRESENTS THE FINAL AGREEMENT
BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 
 [Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed and delivered
by their proper and duly authorized officers effective as of the Effective Date. 
  

			
	BORROWER:
	
	NEXSTAR BROADCASTING, INC.
		
	By:	 	 /s/ G. Robert Thompson

	Name:	 	G. Robert Thompson
	Title:	 	Chief Financial Officer
	
	PARENT GUARANTORS:
	
	NEXSTAR BROADCASTING GROUP, INC.
	NEXSTAR FINANCE HOLDINGS, INC.
		
	By:	 	 /s/ G. Robert Thompson

	Name:	 	G. Robert Thompson
	Title:	 	Chief Financial Officer

			
	OTHER GUARANTORS
	(for purposes of Sections 4.06 and 4.07 hereof):
	
	MISSION BROADCASTING, INC.
		
	By:	 	 /s/ David S. Smith

	Name:	 	David S. Smith
	Title:	 	President

	
	DAVID S. SMITH
	(for purposes of Section 4.07 hereof):
	
	 /s/ David S. Smith

	DAVID S. SMITH

			
	 ADMINISTRATIVE AGENT,
 CO-SYNDICATION AGENTS, L/C ISSUER
 AND LENDERS:

	
	BANK OF AMERICA, N.A.,
	as Administrative Agent, as L/C Issuer
	and as a Lender
		
	By:	 	 /s/ Scott Conner

	Name:	 	Scott Conner
	Title:	 	Vice President

			
	UBS SECURITIES LLC,
	as Co-Syndication Agent
		
	By:	 	 /s/ Eric H. Coombs

	Name:	 	Eric H. Coombs
	Title:	 	Managing Director
		
	By:	 	 /s/ Amanda J. Montgomery

	Name:	 	Amanda J. Montgomery
	Title:	 	Managing Director

			
	MERRILL LYNCH, PIERCE, FENNER &
	SMITH INCORPORATED,
	as a Co-Syndication Agent
		
	By:	 	 /s/ Cecile Baker

	Name:	 	Cecile Baker
	Title:	 	Director

			
	UBS LOAN FINANCE LLC,
	as a Lender
		
	By:	 	 /s/ Wilfred V. Saint

	Name:	 	Wilfred V. Saint
	Title:	 	Director
		 	Banking Products
		 	Services, US
		
	By:	 	 /s/ Richard L. Tavrow

	Name:	 	Richard L. Tavrow
	Title:	 	Director
		 	Banking Products
		 	Services, US
	
	ROYAL BANK OF CANADA,
	as a Lender
		
	By:	 	 /s/ Suzanne Kaicher

	Name:	 	Suzanne Kaicher
	Title:	 	Attorney - In- Fact
		 	Royal Bank Of Canada
	
	 GENERAL ELECTRIC CAPITAL
 CORPORATION,

	as a Lender
		
	By:	 	 /s/ Alicia Freed

	Name:	 	Alicia Freed
	Title:	 	Duly Authorized Signatory

			
	MERRILL LYNCH CAPITAL,
	 a division of Merrill Lynch Business Financial
 Services Inc.,

	as a Lender
		
	By:	 	 /s/ Julia F. Maslanka

	Name:	 	Julia F. Maslanka
	Title:	 	Vice President
	
	CALYON NEW YORK BRANCH,
	as a Lender
		
	By:	 	 /s/ Stephane Ducroizet

	Name:	 	Stephane Ducroizet
	Title:	 	Vice President
		
	By:	 	 /s/ John McCloskey

	Name:	 	John McCloskey
	Title:	 	Director
	
	MAPLEWOOD (CAYMAN) LIMITED,
	By: Babson Capital Management LLC as
	Investment Manager
		
	By:	 	 /s/ Adrienne Musgnug

	Name:	 	Adrienne Musgnug
	Title:	 	Managing Director

			
	BILL & MELINDA GATES FOUNDATION
	By: Babson Capital Management LLC as
	Investment Adviser
		
	By:	 	 /s/ Adrienne Musgnug

	Name:	 	Adrienne Musgnug
	Title:	 	Managing Director
	
	BABSON CLO LTD. 2004-II
	BABSON CLO LTD. 2004-I
	BABSON CLO LTD. 2005-I
	By: Babson Capital Management LLC as
	Collateral Manager
		
	By:	 	 /s/ Adrienne Musgnug

	Name:	 	Adrienne Musgnug
	Title:	 	Managing Director
	
	MASSACHUSETTS MUTUAL LIFE
	INSURANCE COMPANY
	By: Babson Capital Management LLC as
	Investment Adviser
		
	By:	 	 /s/ Adrienne Musgnug

	Name:	 	Adrienne Musgnug
	Title:	 	Managing Director

			
	UBS AG, Stamford Branch,
	as a Lender
		
	By:	 	 /s/ Wilfred V. Saint

	Name:	 	Wilfred V. Saint
	Title:	 	Director
		 	Banking Products
		 	Services, US
		
	By:	 	 /s/ Richard L. Tavrow

	Name:	 	Richard L. Tavrow
	Title:	 	Director
		 	Banking Products
		 	Services, US
	
	Carlyle High Yield Partners III, Ltd.,
	as a Lender
		
	By:	 	 /s/ Linda Pace

	Name:	 	Linda Pace
	Title:	 	Managing Director
	
	Carlyle High Yield Partners IV, Ltd.,
	as a Lender
		
	By:	 	 /s/ Linda Pace

	Name:	 	Linda Pace
	Title:	 	Managing Director

			
	Carlyle High Yield Partners VI, Ltd.,
	as a Lender
		
	By:	 	 /s/ Linda Pace

	Name:	 	Linda Pace
	Title:	 	Managing Director
	
	Carlyle High Yield Partners VII, Ltd.,
	as a Lender
		
	By:	 	 /s/ Linda Pace

	Name:	 	Linda Pace
	Title:	 	Managing Director
	
	Carlyle Loan Opportunity Fund,
	as a Lender
		
	By:	 	 /s/ Linda Pace

	Name:	 	Linda Pace
	Title:	 	Managing Director

			
	Carlyle Loan Investment, Ltd.,
	as a Lender
		
	By:	 	 /s/ Linda Pace

	Name:	 	Linda Pace
	Title:	 	Managing Director
	
	 FRANKLIN TEMPLETON VARIABLE
 INSURANCE
PRODUCTS TRUST-FRANKLIN

	STRATEGIC INCOME SECURITIES FUND,
	as a Lender
		
	By:	 	 /s/ Tyler Chan

	Name:	 	Tyler Chan
	Title:	 	Vice President
	
	FRANKLIN STRATEGIC INCOME FUND
	(CANADA),
	as a Lender
		
	By:	 	 /s/ Tyler Chan

	Name:	 	Tyler Chan
	Title:	 	Vice President

			
	ROSEMONT CLO, Limited
	By: Deerfield Capital Management LLC as
	its Collateral Manager
		
	By:	 	 /s/ Mark E. Wittnebel

	Name:	 	Mark E. Wittnebel
	Title:	 	Sr. Vice President
	
	BRYN MAWR CLO, Ltd.
	By: Deerfield Capital Management LLC as
	its Collateral Manager
		
	By:	 	 /s/ Mark E. Wittnebel

	Name:	 	Mark E. Wittnebel
	Title:	 	Sr. Vice President
	
	FOREST CREEK CLO, Ltd.
	By: Deerfield Capital Management LLC as
	its Collateral Manager
		
	By:	 	 /s/ Mark E. Wittnebel

	Name:	 	Mark E. Wittnebel
	Title:	 	Sr. Vice President

			
	LONG GROVE CLO, Limited
	By: Deerfield Capital Management LLC as
	its Collateral Manager
		
	By:	 	 /s/ Mark E. Wittnebel

	Name:	 	Mark E. Wittnebel
	Title:	 	Sr. Vice President
	
	MARKET SQUARE CLO, Ltd.
	By: Deerfield Capital Management LLC as
	its Collateral Manager
		
	By:	 	 /s/ Mark E. Wittnebel

	Name:	 	Mark E. Wittnebel
	Title:	 	Sr. Vice President
	
	CUMBERLAND II CLO LTD.
	By: Deerfield Capital Management LLC as
	its Portfolio Manager
		
	By:	 	 /s/ Mark E. Wittnebel

	Name:	 	Mark E. Wittnebel
	Title:	 	Sr. Vice President

			
	ACCESS INSTITUTIONAL LOAN FUND
	By: Deerfield Capital Management LLC as
	its Portfolio Manager
		
	By:	 	 /s/ Mark E. Wittnebel

	Name:	 	Mark E. Wittnebel
	Title:	 	Sr. Vice President
	
	Sun America Senior Floating Rate Fund, Inc.
	By: AIG Global Investment Corp. Investment
	Sub-Advisor,
	as a Lender
		
	By:	 	 /s/ Julie Bothamley

	Name:	 	Julie Bothamley
	Title:	 	Vice President

			
	Galaxy IV CLO, LTd.
	By: AIG Global Investment Corp.
	its Collateral Manager,
	as a Lender
		
	By:	 	 /s/ Julie Bothamley

	Name:	 	Julie Bothamley
	Title:	 	Vice President
	
	Galaxy V CLO, LTd.
	By: AIG Global Investment Corp.
	its Collateral Manager,
	as a Lender
		
	By:	 	 /s/ Julie Bothamley

	Name:	 	Julie Bothamley
	Title:	 	Vice President
	
	State Street Bank & Trust Company as Trustee
	For GMAM Group Pension Trust I
		
	By:	 	 /s/ Russell Ricciardi

	Name:	 	Russell Ricciardi
	Title:	 	Client Service Officer

			
	SENIOR DEBT PORTFOLIO
	By: Boston Management and Research
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President
	
	EATON VANCE SENIOR INCOME TRUST
	By: Eaton Vance Management
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President
	
	EATON VANCE INSTITUTIONAL SENIOR
	LOAN FUND
	By: Eaton Vance Management
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President

			
	CONSTANTINUS EATON VANCE CDO V, LTD.
	By: Eaton Vance Management
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President
	
	EATON VANCE CDO VI, LTD.
	By: Eaton Vance Management
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President
	
	GRAYSON & CO.
	By: Boston Management and Research
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President

			
	BIG SKY SENIOR LOAN FUND, LTD.
	By: Eaton Vance Management
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President
	
	 THE NORINCHUKIN BANK, NEW YORK
 BRANCH
through State Street Bank and Trust

	Company N.A. as Fiduciary Custodian
	By: Eaton Vance Management, Attorney-in-Fact,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President
	
	EATON VANCE
	VT FLOATING-RATE INCOME FUND
	By: Eaton Vance Management
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President

			
	EATON VANCE
	LIMITED DURATION INCOME FUND
	By: Eaton Vance Management
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President
	
	EATON VANCE SENIOR
	FLOATING-RATE TRUST
	By: Eaton Vance Management
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President
	
	EATON VANCE FLOATING-RATE
	INCOME TRUST
	By: Eaton Vance Management
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President

			
	EATON VANCE SHORT DURATION
	DIVERSIFIED INCOME FUND
	By: Eaton Vance Management
	as Investment Advisor,
	as a Lender
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President
	
	Blackhawk Global Floating Rate Income Trust
	Blackhawk Limited Duration Income Trust
	Blackhawk Senior Income Series
	Blackhawk Senior Income Series II
	Magnelite IV CLO, Limited
	Magnelite V CLO, Limited
	Senior Loan Fund,
	as a Lender
		
	By:	 	 /s/ Tom Colwell

	Name:	 	Tom Colwell
	Title:	 	Auth. Sig.
	
	The Sumitomo Trust and Banking Co., Ltd.
	New York Branch
		
	By:	 	 /s/ Elizabeth A. Quirk

	Name:	 	Elizabeth A. Quirk
	Title:	 	Vice President

			
	 ARES ENHANCED LOAN INVESTMENT
 STRATEGY,
LTD.

		
	By:	 	Ares Enhanced Loan Management, L.P.
	Its:	 	Investment Manager
		
	By:	 	Ares Enhanced Loan GP, LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Americo Cascella

	Name:	 	Americo Cascella
	Title:	 	Vice President
	
	Ares V CLO Ltd.
		
	By:	 	Ares CLO Management V, L.P.,
	Its:	 	Investment Manager
		
	By:	 	Ares CLO GP V, LLC,
	Its:	 	Managing Member
		
	By:	 	 /s/ Americo Cascella

	Name:	 	Americo Cascella
	Title:	 	Vice President

			
	Ares VIII CLO Ltd.
		
	By:	 	Ares CLO Management VIII, L.P.,
	Its:	 	Investment Manager
		
	By:	 	Ares CLO GP VIII, LLC,
	Its:	 	General Partner
		
	By:	 	 /s/ Americo Cascella

	Name:	 	Americo Cascella
	Title:	 	Vice President
	
	Ares IX CLO Ltd.
		
	By:	 	 Ares CLO Management IX, L.P.

	Its:	 	Investment Manager
		
	By:	 	 Ares CLO GP IX, LLC

	Its:	 	General Partner
		
	By:	 	 /s/ Americo Cascella

	Name:	 	Americo Cascella
	Title:	 	Vice President

			
	FRANKLIN STRATEGIC SERIES-FRANKLIN
	STRATEGIC INCOME FUND,
	as a Lender
		
	By:	 	 /s/ Richard Hsu

	Name:	 	Richard Hsu
	Title:	 	Vice President
	
	FRANKLIN TEMPLETON
	LIM. DURATION INCOME TRUST,
	as a Lender
		
	By:	 	 /s/ Richard Hsu

	Name:	 	Richard Hsu
	Title:	 	Vice President
	
	FRANKLIN FLOATING RATE
	DAILY ACCESS FUND,
	as a Lender
		
	By:	 	 /s/ Richard Hsu

	Name:	 	Richard Hsu
	Title:	 	Vice President

			
	FRANKLIN FLOATING RATE
	MASTER SERIES,
	as a Lender
		
	By:	 	 /s/ Richard Hsu

	Name:	 	Richard Hsu
	Title:	 	Vice President
	
	FRANKLIN CLO II, LIMITED,
	as a Lender
		
	By:	 	 /s/ David Ardini

	Name:	 	David Ardini
	Title:	 	Vice President
	
	FRANKLIN CLO III, LIMITED,
	as a Lender
		
	By:	 	 /s/ David Ardini

	Name:	 	David Ardini
	Title:	 	Vice President

			
	ING PRIME RATE TRUST
	By: ING Investment Management Co.
	as its Investment Manager
		
	By:	 	 /s/ Mohamed Basma

	Name:	 	Mohamed Basma
	Title:	 	Vice President
	
	ING SENIOR INCOME FUND
	By: ING Investment Management Co.
	as its Investment Manager
		
	By:	 	 /s/ Mohamed Basma

	Name:	 	Mohamed Basma
	Title:	 	Vice President

			
	JUPITER LOAN FUNDING LLC,
	as a Lender
		
	By:	 	 /s/ Anna M. Tallent

	Name:	 	Anna M. Tallent
	Title:	 	Assistant Vice President
	
	PPM MONARCH BAY FUNDING LLC,
	as a Lender
		
	By:	 	 /s/ Anna M. Tallent

	Name:	 	Anna M. Tallent
	Title:	 	Assistant Vice President
	
	PPM SHADOW CREEK FUNDING LLC,
	as a Lender
		
	By:	 	 /s/ Anna M. Tallent

	Name:	 	Anna M. Tallent
	Title:	 	Assistant Vice President

			
	PPM SPYGLASS FUNDING TRUST,
	as a Lender
		
	By:	 	 /s/ Ann E. Morris

	Name:	 	Ann E. Morris
	Title:	 	Authorized Agent
	
	ELF Funding Trust III
	By: New York Life Investment Management LLC,
	as Attorney-in-Fact,
	as a Lender
		
	By:	 	 /s/ Robert H. Dial

	Name:	 	Robert H. Dial
	Title:	 	Managing Director
	
	NYLIM Institutional Floating Rate Fund, L.P.
	By: New York Life Investment Management LLC,
	its Investment Manager,
	as a Lender
		
	By:	 	 /s/ Robert H. Dial

	Name:	 	Robert H. Dial
	Title:	 	Managing Director

			
	MainStay Floating Rate Fund, a series of Eclipse
Funds, Inc.
	By: New York Life Investment Management LLC,
	as a Lender
		
	By:	 	 /s/ Robert H. Dial

	Name:	 	Robert H. Dial
	Title:	 	Managing Director
	
	New York Life Insurance Company,
	as a Lender
		
	By:	 	 /s/ Robert H. Dial

	Name:	 	Robert H. Dial
	Title:	 	Managing Director
	
	New York Life Insurance and Annuity Corporation
	By: New York Life Investment Management LLC,
	its Investment Manager,
	as a Lender
		
	By:	 	 /s/ Robert H. Dial

	Name:	 	Robert H. Dial
	Title:	 	Managing Director

			
	Stanfield Vantage CLO, Ltd
	By: Stanfield Capital Partners, LLC
	as its Asset Manager,
	as a Lender
		
	By:	 	 /s/ Christopher E. Jansen

	Name:	 	Christopher E. Jansen
	Title:	 	Managing Partner
	
	XL Re Ltd.
	By: Stanfield Capital Partners, LLC
	as its Collateral Manager,
	as a Lender
		
	By:	 	 /s/ Christopher E. Jansen

	Name:	 	Christopher E. Jansen
	Title:	 	Managing Partner
	
	Windsor Loan Funding, Limited
	By: Stanfield Capital Partners, LLC
	as its Investment Manager,
	as a Lender
		
	By:	 	 /s/ Christopher E. Jansen

	Name:	 	Christopher E. Jansen
	Title:	 	Managing Partner

			
	Robson Trust,
	as a Lender
		
	By:	 	 /s/ Linda R. Karn

	Name:	 	Linda R. Karn
	Title:	 	Authorized Signatory
	
	CSAM Funding III,
	as a Lender
		
	By:	 	 /s/ Linda R. Karn

	Name:	 	Linda R. Karn
	Title:	 	Authorized Signatory
	
	Atrium IV,
	as a Lender
		
	By:	 	 /s/ Linda R. Karn

	Name:	 	Linda R. Karn
	Title:	 	Authorized Signatory

			
	TRS Callisto LLC,
	as a Lender
		
	By:	 	 /s/ Deborah O’Keeffe

	Name:	 	Deborah O’Keeffe
	Title:	 	Vice President
	
	MUIRFIELD TRADING LLC,
	as a Lender
		
	By:	 	 /s/ Anna M. Tallent

	Name:	 	Anna M. Tallent
	Title:	 	Assistant Vice President
	
	Hanover Square CLO Ltd.
	By: Blackstone Debt Advisors L.P.
	as Collateral Manager,
	as a Lender
		
	By:	 	 /s/ Dean T. Criares

	Name:	 	Dean T. Criares
	Title:	 	Managing Director

			
	Monument Park CDO Ltd.
	By: Blackstone Debt Advisors L.P.
	as Collateral Manager,
	as a Lender
		
	By:	 	 /s/ Dean T. Criares

	Name:	 	Dean T. Criares
	Title:	 	Managing Director
	
	Essex Park CDO Ltd.
	By: Blackstone Debt Advisors L.P.
	as Collateral Manager,
	as a Lender
		
	By:	 	 /s/ Dean T. Criares

	Name:	 	Dean T. Criares
	Title:	 	Managing Director
	
	Loan Funding VI LLC,
	for itself or as agent for
	Corporate Loan Funding VI LLC,
	as a Lender
		
	By:	 	 /s/ Dean T. Criares

	Name:	 	Dean T. Criares
	Title:	 	Managing DirectorEXECUTIVE EMPLOYMENT AGREEMENT

 Exhibit 10.122 
  
 EXECUTIVE EMPLOYMENT AGREEMENT 
  
 THIS EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”) is made as of January 20, 2006 by and
between Matthew E. Devine (“Executive”), and Nexstar Broadcasting, Inc., a Delaware corporation (the “Company”). 
  
 The Company desires to employ Executive as the Executive Vice President and Chief Financial Officer, and Executive desires to be employed by the Company
in such capacity on the terms and conditions set forth in this Agreement. 
  
 In consideration of the mutual promises set forth herein and the mutual benefits to be derived from this Agreement, the parties hereto, intending to be legally bound, hereby agree as follows: 
  
 1. Positions and Duties. Subject to the terms and conditions
of this Agreement, during the term of this Agreement (which will commence on or about January 23, 2006), the Company will employ Executive. Effective on and as of January 23, 2006 (the “Effective Date”), Executive will
serve as the Executive Vice President and Chief Financial Officer. In such position, Executive will perform such duties of a managerial nature as are assigned to him from time to time by the Company’s chief executive officer (the
“CEO”) and/or the Board of Directors (the “Board”) of Nexstar Broadcasting Group, Inc. (“Parent”). Such duties will include, without limitation, responsibilities for all internal and external
financial reporting, oversight of internal audit, compliance and controls, human resources and investor relations, and assisting in strategic planning, business development and other projects as assigned by the CEO and the Board. Executive will
devote his best efforts to his employment with the Company and will devote substantially all of his business time and attention to the performance of his duties under this Agreement; provided that the foregoing will not preclude Executive
from devoting reasonable time to the supervision of his personal investments, civic and charitable affairs, so long as such activities do not materially interfere with the performance of Executive’s duties hereunder. 
  
 2. Term of Employment. Except if terminated earlier as
provided below, the Company’s employment of Executive under this Agreement will continue until January 22, 2011; provided, however, that the term of employment under this Agreement will be automatically renewed for successive
one-year periods unless, at least ninety (90) days prior to the end of the then current term of employment under this Agreement, Executive or the Company gives written notice to the other of the notifying party’s intent not to renew the
term of employment under this Agreement as of the end of the then current term. 
  
 3. Termination. The Company’s employment of Executive under this Agreement will terminate prior to the end of the term specified in Paragraph 2 only under the following circumstances:

  
 (a) Death. Executive’s
death, in which case Executive’s employment will terminate on the date of death; 

 (b) Disability. If Executive’s illness, physical or mental disability
or other incapacity results in Executive’s inability to perform, with or without reasonable accommodation (as defined under the Americans with Disabilities Act), Executive’s duties under this Agreement for any period of six
(6) consecutive months, and within thirty (30) days after written notice of termination is given by the Company to Executive (which may occur before or after the end of such six-month period), Executive does not return to the performance
of Executive’s duties hereunder on a full-time basis, then the Company may terminate Executive’s employment hereunder effective on or after the later of (i) the expiration of such six-month period or (ii) the thirty-first
(31st) day following the giving by the Company of such written notice of termination; 
  
 (c) Consolidation, Merger or Comparable
Transaction. In the event that the Parent consolidates with or merges with and into any other person, effects a share exchange, enters into a comparable capital transaction or has any or all of its equity securities sold to one or more third
parties, in each case such that a person (other than an affiliate of ABRY Partners, LLC (“ABRY”)) becomes the beneficial owner of a majority of the voting power represented by the securities of the Parent (treating any such person
and the affiliates of such person as being one and the same person), or if the Parent sells all or substantially all of its consolidated assets, then Executive’s employment may, by written notice of termination, be terminated by the Company or
Executive simultaneously with the consummation of such consolidation, merger, share exchange, asset sale, stock sale or comparable transaction; 
  
 (d) Termination by the Company for Cause. The Company may terminate Executive’s employment at any time for Cause, such
termination to be effective as of the date stated in a written notice of termination delivered by CEO to Executive. Any termination pursuant to this Paragraph 3(d) will not also be deemed to be a termination pursuant to Paragraph 3(e). For the
purposes of this Agreement, “Cause” is defined to mean any of the following activities by Executive: (i) the conviction of Executive for a felony or a crime involving moral turpitude or the commission of any act involving
dishonesty, disloyalty or fraud with respect to the Company or any of its subsidiaries or affiliates, in each instance which has caused or is reasonably likely to cause material harm to the Company; (ii) substantial repeated failure to perform
duties which are reasonably directed by the Board and/or by the CEO and which are consistent with the terms of this Agreement and the position specified in Paragraph 1, (iii) gross negligence or willful misconduct with respect to the Company or
any of its subsidiaries or affiliates, in each instance which has caused or is reasonably likely to cause material harm to the Company; or (iv) any other material breach of a material provision of this Agreement which is not cured within thirty
(30) days after written notice thereof to Executive; 
  
 (e) Termination by the Company Other Than for Cause. The Company may terminate Executive’s employment for any reason or for no reason upon thirty (30) days prior written notice to Executive,
subject to payment of the termination payments specified in Paragraph 6. Such termination will be effective as of the date stated in a written notice of termination delivered by CEO to Executive; 
  

 2 

 (f) Termination by Executive With Good Reason. Executive may terminate his
employment hereunder at any time for Good Reason, such termination to be effective as of the date stated in a written notice of termination delivered by Executive to the Company (or such earlier date after the delivery of such notice as the Company
may elect). For purposes of this Agreement, “Good Reason” will mean (i) a material reduction in the duties or position of Executive, or (ii) a material breach by the Company or the Parent of a material provision of this
Agreement which adversely affects Executive and which has not been cured by the breaching entity within thirty (30) days after Executive gives written notice of noncompliance to such entity; 
  
 (g) Termination by Executive Without Good
Reason. Executive may terminate his employment hereunder for any reason or for no reason upon thirty (30) days prior written notice to the Company. Such termination will be effective as of the date stated in a written notice of
termination delivered by Executive to the Company; or 
  
 (h) Retirement. The Company may require Executive to retire upon attaining age 65 if such action does not violate applicable law; such action will not be treated as a termination by the Company pursuant to Paragraph 3(d) or
3(e). 
  
 In no event will the termination of Executive’s employment affect
the rights and obligations of the parties set forth in this Agreement, except as expressly set forth herein. Any termination of Executive’s employment pursuant to this Paragraph 3 will be deemed to include a resignation by Executive of all
positions with the Company, the Parent and each of their respective subsidiaries and affiliates. 
  
 4. Compensation. 
  
 (a) Base Salary. During the term of this Agreement, Executive will be entitled to receive an annual base salary
(“Base Salary”) at the rate specified below: 
  

				
	 Period

	  	Base Salary

	 From January 23, 2006 through January 22, 2007
	  	$	350,000
	 From January 23, 2007 through January 22, 2008
	  	$	360,000
	 From January 23, 2008 through January 22, 2009
	  	$	370,000
	 From January 23, 2009 through January 22, 2010
	  	$	380,000
	 After January 23, 2010
	  	$	400,000

  
 (b)
Bonus. On the Effective Date, Executive shall be entitled to receive 30,000 shares of common stock of Parent (the “Bonus Shares”), which shall be subject to vesting and forfeiture as set forth herein. Parent shall issue
the Bonus Shares to Executive on the Effective Date. Immediately upon issuance none of the Bonus Shares shall have vested. The Bonus Shares shall vest monthly on the 23rd of each month in increments of 2,500 shares and shall be fully vested on the first anniversary of the Effective Date. Any Bonus Shares that have not vested on
the date of termination of Executive’s employment shall be cancelled and forfeited. The Bonus Shares will be subject to applicable federal and state securities laws. To the extent the Company deems it necessary or desirable, Executive shall
execute any additional documentation related to 

  

 3 

 
the issuance of the Bonus Shares. After the end of each Company fiscal year during the term of this Agreement, commencing with the 2006 fiscal year,
Executive will be entitled to receive an annual bonus (the “Bonus”), in an amount, if any, up to the amount specified below (or in excess of such amount, as the CEO may determine is appropriate in the CEO’s sole discretion and
approved by the Board or applicable committee thereof), pro-rated for any partial fiscal year during which Executive is employed by the Company pursuant to this Agreement, to be determined by the CEO based on, among other things, the performance of
the Parent’s stock price and whether the Company achieved the budgeted revenue and profit goals established for the Company by the CEO for such fiscal year: 
  

				
	 After the 2006 fiscal year
	  	$	175,000
	 After the 2007 fiscal year
	  	$	180,000
	 After the 2008 fiscal year
	  	$	185,000
	 After the 2009 fiscal year
	  	$	190,000
	 After the 2010 fiscal year and each subsequent fiscal year
	  	$	200,000

  
 (c)
Payment. Executive’s Base Salary will be paid ratably during each 12-month period under this Agreement on a basis consistent with other Company executives. The Bonus provided in Paragraph 4(b), if granted by the CEO, will be paid in
a single payment within thirty (30) days after the independent certified public accountants regularly employed by the Company have made available to the Company the audited financial statements for the appropriate fiscal year. All payments
under this Agreement will be subject to withholding or deduction by reason of the Federal Insurance Contribution Act, Federal income tax, state income tax and all other applicable laws and regulations. 
  
 5. Fringe Benefits. 
  
 (a) During the term of this Agreement, Executive will
be entitled to receive, at the Company’s expense, medical, other insurance coverage, paid vacation and such other benefits as described in the Nexstar Employee Handbook that Executive is entitled to receive thereunder. Executive shall be
entitled to four (4) weeks of paid vacation time per calendar year. 
  
 (b) Executive will receive an automobile allowance of $500 per month. 
  
 (c) During the term of this Agreement, the Company will reimburse Executive for all approved business expenses which Executive
incurs on the Company’s behalf, upon presentation of appropriate documentation. 
  
 (d) All other terms and conditions of Executive’s employment will be governed by this Agreement, the option agreement and the
Nexstar Employee Handbook. 
  
 6. Termination
Payments. Executive (or Executive’s estate pursuant to Paragraph 6(a)) will be entitled to receive the following payments upon termination of Executive’s employment hereunder: 
  

 4 

 (a) In the event of the termination of Executive’s employment pursuant to any
of the following provisions: 
  

			
	Paragraph 3(a)	  	[Death]
	Paragraph 3(b)	  	[Disability]
	Paragraph 3(d)	  	[By the Company For Cause]
	Paragraph 3(g)	  	[By Executive Without Good Reason]
	Paragraph 3(h)	  	[Retirement]

  
 the Company will pay
to Executive (or Executive’s estate, as the case may be) as soon as practicable following such termination all accrued and unpaid Base Salary as of the date of termination as provided in Paragraph 4 and an amount (calculated at the rate of the
Base Salary in effect on such date) in respect of all accrued but unutilized vacation time as of such date. 
  
 (b) In the event of termination of Executive’s employment pursuant to any of the following provisions: 
  

			
	 Paragraph 3(c)
	  	 [Consolidation, Merger or Comparable Transaction]

	 Paragraph 3(e)
	  	 [By the Company Other Than For Cause]

	 Paragraph 3(f)
	  	 [Good Reason]

  
 the Company will pay
Executive the amounts described in Paragraph 6(a) and will continue to pay the Base Salary which otherwise would be due to Executive for a period twelve (12) months after the date of such termination. For such period, the Company will also
continue to provide coverage (at the Company’s expense) under any medical insurance plan available pursuant to Paragraph 5 in which Executive was a participant at the time of the termination of Executive’s employment under this Agreement
(or such other medical coverage as the Company provides to employees of the Company generally from time to time during such period). 
  
 Without limiting the remedies available to the Company for breach by Executive of Paragraph 7 if Executive violates the provisions of Paragraph 7 after the termination of
Executive’s employment with the Company in a manner reasonably determined by the Board to be injurious to the Company or any of its affiliates, then Executive will forfeit any payments under this Paragraph 6 which are unpaid at the time such
violation occurs. 
  
 7. Covenant Not to Compete and
Non-Disclosure. 
  
 (a) During the
term of Executive’s employment pursuant to this Agreement and for a period of one (1) year thereafter, Executive covenants and agrees that Executive will not within any DMA (as determined from time to time by the A. C. Nielsen Company or
its successor) in which the Company operates a television broadcast facility on the date that Executive’s employment by the Company terminates (or in which the Company has agreed to acquire, or the Board has approved pursuing (and the Company
has not abandoned) the acquisition of, a television broadcast facility on or prior to such date) whether directly or indirectly, with or without compensation, (x) enter into 

  

 5 

 
or engage in the business of television broadcasting, or (y) be employed by, act as a consultant to, act as a director of or own beneficially five
percent (5%) or more of any class of equity or debt securities of any corporation or other commercial enterprise in the business of television broadcasting, or (z) solicit or do any business with respect to television broadcasting with any
then-existing customers of the Company. During the one (1) year after Executive’s employment with the Company terminates, neither Executive nor any of Executive’s affiliates will hire, solicit, employ or contract with respect to
employment any officer or employee of the Company. For purposes of this Paragraph 7, the term “Company” will include the Company, the Parent and each subsidiary or other affiliate of any of them, and each such entity is an express
third-party beneficiary of this Agreement; provided that the term “Company” will not include any affiliates of the Company who are affiliates of the Company solely by reason of being affiliates of ABRY. 
  
 (b) Executive agrees to disclose promptly to the
Company and does assign and agree to assign to the Company, free from any obligation to Executive, all Executive’s right, title and interest in and to any and all ideas, concepts, processes, improvements and inventions made, conceived, written,
acquired, disclosed or developed by Executive, solely or in concert with others, during the term of Executive’s employment by the Company, which relate to the business, activities or facilities of the Company, or resulting from or suggested by
any work Executive may do for the Company or at its request. Executive further agrees to deliver to the Company any and all drawings, notes, photographs, copies, outlines, specifications, memoranda and data relating to such ideas, concepts,
processes, improvements and inventions, to cooperate fully during Executive’s employment and thereafter in the securing of copyright, trademark or patent protection or other similar rights in the United States and foreign countries, and to give
evidence and testimony and to execute and deliver to the Company all documents requested by it in connection therewith. 
  
 (c) Except as expressly set forth below, Executive agrees, whether during Executive’s employment pursuant to this Agreement or
thereafter, except as authorized or directed by the Company in writing or pursuant to the normal exercise of Executive’s responsibilities hereunder, not to disclose to others, use for Executive’s or any other Person’s benefit, copy or
make notes of any confidential information or trade secrets or any other knowledge or information of or relating to the business, activities or facilities of the Company which may come to Executive’s knowledge prior to or during
Executive’s employment pursuant to this Agreement or thereafter. Executive will not be bound to this obligation of confidentiality and nondisclosure if: 
  

(i) the knowledge or information in question has become part of the public domain by publication or otherwise through no fault
of Executive; 
  
 (ii) the knowledge or
information in question is disclosed to the recipient by a third party and Executive reasonably believes such third party is in lawful possession of the knowledge or information and has the lawful right to make disclosure thereof; or 
  

 6 

 (iii) Executive is required to disclose the information in question pursuant to
applicable law or by a court of competent jurisdiction. 
  
 (d) Upon termination of employment pursuant to this Agreement, Executive will deliver to the Company all records, notes, data, memoranda, photographs, models and equipment of any nature which are in
Executive’s possession or control and which are the property of the Company. 
  
 (e) The parties understand and agree that the remedies at law for breach of the covenants in this Paragraph 7 would be inadequate
and that the Company will be entitled to injunctive or such other equitable relief as a court may deem appropriate for any breach of these covenants. If any of these covenants will at any time be adjudged invalid to any extent by any court of
competent jurisdiction, such covenant will be deemed modified to the extent necessary to render it enforceable. 
  
 8. Executive Stock Options. Pursuant to the Nexstar Broadcasting Group, Inc. 2003 Long-Term Equity Incentive Plan (the
“LTIP”), the Board or the Compensation Committee of the Board, as applicable, will, at its discretion, grant Executive options to purchase shares of the Parent’s Class A Common Stock (the “Options”). As of
the Effective Date of employment of Executive, Executive will be granted an Option to purchase 300,000 shares of Parent’s Class A Common Stock (the “Class A Common Stock”) at a per-share exercise price equal to the closing
price of the Class A Common Stock on Nasdaq on the date of such option grant (the “Initial Option Price”). All Options described in this Section 8 shall be subject to the terms and conditions (including vesting provisions)
of the LTIP and the option agreement pursuant to which the Options were granted. 
  
 9. Entire Agreement. This instrument embodies the entire agreement between the parties hereto with respect to Executive’s employment with the Company, and there have been and are no other
agreements, representations or warranties between the parties regarding such matters. 
  
 10. No Assignment. This Agreement will not be assigned by Executive without the prior written consent of the Company and any attempted assignment without such prior written consent will be null and void
and without legal effect; provided that in the case of Executive’s death or disability this Agreement may be enforced by Executive’s executors, personal representatives or guardians, to the extent applicable. This Agreement will not
be assigned by the Company without the prior written consent of Executive except to any other person or entity which may acquire or conduct the business of the Company, the Parent and/or their respective subsidiaries. 
  
 11. Notices. All notices, requests, demands and other
communications hereunder will be deemed to have been duly given when (i) delivered by hand or if mailed, by certified or registered mail, with postage prepaid; (ii) hand delivered; or (iii) sent overnight mail or overnight courier:

  
 (a) If to Executive, then to c/o
Nexstar Broadcasting, Inc., 909 Lake Carolyn Parkway, Suite 1450, Irving, Texas 75039, or as Executive may otherwise specify by prior written notice to the Company; and 
  

 7 

 (b) If to the Company, then to Nexstar Broadcasting, Inc., 909 Lake Carolyn
Parkway, Suite 1450, Irving, Texas 75039, Attention: Perry A. Sook or as the Company may otherwise specify by prior written notice to Executive. 
  
 12. Amendment; Modification. This Agreement will not be amended, modified or supplemented other than in a writing signed by the parties
hereto. 
  
 13. Counterparts. This Agreement may be
executed in two or more counterparts, each of which will be deemed an original, but all of which together will constitute but one and the same instrument. 
  
 14. Headings. The headings in the Paragraphs of this Agreement are inserted for convenience only and will not constitute a part of this
Agreement. 
  
 15. Severability. The parties agree
that if any provision of this Agreement will under any circumstances be deemed invalid or inoperative, the Agreement will be construed with the invalid or inoperative provision deleted, and the rights and obligations of the parties will be construed
and enforced accordingly. 
  
 16. Governing Law.
This Agreement will be governed by and construed in accordance with the internal law of the State of Delaware without giving effect to any choice of law or conflict provision or rule that would cause the laws of any jurisdiction other than the State
of Delaware to be applied. 
  
 17. Legal Fees. In
the event of any litigated dispute between or among any of the parties to this Agreement, the reasonable legal fees and expenses of the party successful in such dispute (whether by way of a decision by a court or other tribunal) will be paid
promptly by the unsuccessful party upon presentation by the successful party of an invoice therefor. 
  
 18. Representations. Executive represents and warrants to the Company that Executive is not a party to or bound by any employment agreement,
noncompete agreement or confidentiality agreement with any other person or entity. 
  
 19. Strict Construction. The parties to this Agreement have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation
arises, this Agreement will be construed as if drafted jointly by the parties, and no presumption or burden of proof will arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. 
  
 20. Binding Arbitration. 
  
 (a) Generally. The arbitration
procedures described in this Paragraph 20 will be the sole and exclusive method of resolving and remedying claims under this Agreement (“Disputes”); provided that nothing in this Paragraph 20 will prohibit a Person 

  

 8 

 
from instituting litigation to enforce any Final Arbitration Award. Except as otherwise provided in the Commercial Arbitration Rules of the American
Arbitration Association as in effect from time to time (the “AAA Rules”), the arbitration procedures described in this Paragraph 20 and any Final Arbitration Award will be governed by, and will be enforceable pursuant to, the
Uniform Arbitration Act as in effect in the State of Texas from time to time. “Person” for the purposes of this Agreement means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock
company, a trust, a joint venture, an unincorporated organization or any governmental entity. 
  
 (b) Notice of Arbitration. If a Person asserts that there exists a Dispute, then such Person (the “Disputing
Person”) will give each other Person involved in such Dispute a written notice setting forth the nature of the asserted Dispute. If all such Persons do not resolve any such asserted Dispute prior to the 10th business day after such notice is given, then any of them may commence arbitration pursuant to this Paragraph 20 by giving each other Person involved
in such Dispute a written notice to that effect (an “Arbitration Notice”), setting forth any matters which are required to be set forth therein in accordance with the AAA Rules. 
  
 (c) Selection of Arbitrator. The Persons
involved in any Dispute will attempt to select a single arbitrator by mutual agreement. If no such arbitrator is selected prior to the 10th business day after the related Arbitration Notice is given, then an arbitrator which is experienced in matters of the type which are the subject matter of the Dispute will be selected in accordance with the AAA Rules.

  
 (d) Conduct of Arbitration. The
arbitration will be conducted in Dallas, Texas under the AAA Rules, as modified by any written agreement among the Persons involved in the Dispute in question. The arbitrator will conduct the arbitration in a manner so that the final result,
determination, finding, judgment or award determined by the arbitrator (the “Final Arbitration Award”) is made or rendered as soon as practicable, and the Persons involved will use reasonable efforts to cause a Final Arbitration Award to
occur within 90 days after the arbitrator is selected. Any Final Arbitration Award will be final and binding upon all Persons and there will be no appeal from or reexamination of any Final Arbitration Award, except in the case of fraud, perjury or
evident partiality or misconduct by the arbitrator prejudicing the rights of such Persons or to correct manifest clerical errors. 
  
 (e) Enforcement. A Final Arbitration Award may be enforced in any state or federal court having jurisdiction over the
subject matter of the related Dispute. 
  
 (f)
Expenses. Each prevailing Person in any arbitration proceeding described in this Paragraph 20 will be entitled to recover from any non-prevailing Person(s) its reasonable attorneys’ fees and disbursements and other out-of-pocket
costs in addition to any damages or other remedies awarded to such prevailing Person, and the non-prevailing Person(s) also will be required to pay all other costs and expenses associated with the arbitration; provided that (i) if an
arbitrator is unable to determine that one or more Persons are prevailing Person(s) in any such arbitration proceeding, then such costs and expenses will be equitably allocated by such arbitrator upon the basis of the outcome of such arbitration
proceeding, and (ii) if such arbitrator is unable to allocate such costs and expenses in such a manner, then the costs and expenses of such arbitration will be paid one-half by the Company, and the Parent, on the one hand, and one-half by
Executive, on the other hand, and each Person involved in such arbitration will pay the out-of-pocket expenses incurred by it. As part of any Final Arbitration Award, the arbitrator may designate the prevailing Person(s) for purposes of this
Paragraph 20. 
  
 *    
*     *     *     *     * 
  

 9 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and
year first above written. 
  

			
	 /s/ Matthew E. Devine

	Matthew E. Devine
	
	NEXSTAR BROADCASTING, INC.
		
	By:	 	 /s/ Perry A. Sook

	Name:	 	Perry A. Sook
	Title:	 	President and Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]