Document:

EX-10.1

 Exhibit 10.1 

Compensation of Chairman of the Board 

The non-executive Chairman of the Board of Directors of Torchmark Corporation shall be paid, effective upon his June 2013 retirement as
Executive Chairman and an employee of Torchmark Corporation, as follows: 
  

	 	(1)	$50,000 per year as a non-executive Chairman of the Board Fee, pro-rated for months of service; 

  

	 	(2)	$90,000 per year Annual Cash Retainer as a non -employee director, pro-rated for months of service; and 

  

	 	(3)	Commencing for 2014, $100,000 per year Annual Equity Retainer as a non-employee director in the form of options, restricted stock or restricted stock units based upon his timely election, pro-rated for months of
service.Amendment No. 2 to Credit Agreement, dated as of August 9, 2012,

 Exhibit 10.1 

AMENDMENT NO. 2 TO CREDIT AGREEMENT 

November 7, 2013 
 THIS
AMENDMENT NO. 2 TO CREDIT AGREEMENT (this “Agreement”) is made as of November 7, 2013, by and among BEASLEY MEZZANINE HOLDINGS, LLC (the “Borrower”), the undersigned Lenders and GENERAL ELECTRIC CAPITAL
CORPORATION, as administrative agent and collateral agent for the Lenders (in such capacity, and together with its successors and permitted assigns, the “Administrative Agent”). 

WHEREAS, the Borrower, the Lenders, the L/C Issuers and the Administrative Agent are party to that certain Credit Agreement dated as of
August 9, 2012 (as amended and in effect immediately prior to the effectiveness of this Agreement, the “Credit Agreement”), providing, subject to the terms and conditions thereof, for extensions of credit to be made by the
Lenders to the Borrower. 
 WHEREAS, the Borrower has requested that the Lenders amend the Credit Agreement to permit certain additional
Restricted Junior Payments; and 
 WHEREAS, subject to the terms and conditions set forth in this Agreement, the Lenders have agreed to
amend the Credit Agreement; 
 NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein
contained, and subject to the terms and conditions hereof, the parties hereto agree as follows: 
 1. Definitions; Section
References. Except as otherwise defined in this Agreement, terms defined in the Credit Agreement are used herein as defined therein. 

2. Amendments to Credit Agreement. Subject to the satisfaction of the conditions precedent set forth in Section 3 of this
Agreement, the Credit Agreement is hereby amended as follows: 
 (a) Subsection 7.5(iv) of the Credit Agreement is hereby amended to
delete therefrom the amount “Five Hundred Thousand Dollars ($500,000)” and insert therefore the amount “Two Million Dollars ($2,000,000)”. 

3. Conditions of Effectiveness. The effectiveness of this Agreement is subject to the condition precedent that the Administrative Agent
shall have received counterparts of this Agreement, duly executed by each Credit Party and the Requisite Lenders. 
 4. Representations
and Warranties of the Credit Parties. Each Credit Party hereby represents and warrants as of the date hereof as follows: 
 (a) This
Agreement and the Credit Agreement as amended hereby constitute the legally valid and binding obligations of such Credit Party, enforceable against such Credit Party in accordance with their respective terms, except as may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability. 

(b) Both before and after giving effect to this Agreement, no Event of Default or Potential Event of Default has occurred and is continuing.

 (c) Both before and after giving effect to this Agreement, the representations and warranties
contained in the Credit Agreement and in the other Loan Documents are true, correct and complete in all material respects (or, if such representation or warranty is qualified by “material” or “Material Adverse Effect”, in all
respects) on and as of the date hereof to the same extent as though made on and as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties
were true, correct and complete in all material respects (or, if such representation or warranty is qualified by “material” or “Material Adverse Effect”, in all respects) on and as of such earlier date (or previously waived in
accordance with the Credit Agreement). 
 5. Ratification and Reaffirmation. Each Credit Party hereby (i) ratifies and reaffirms
all of its payment and performance obligations, contingent or otherwise, and each grant of security interests and liens in favor of Administrative Agent, any Lender or any other Secured Party, as the case may be, under each Loan Document,
(ii) agrees and acknowledges that the Liens in favor of Administrative Agent and the Secured Parties under each Loan Document constitute valid, binding, enforceable and perfected first priority liens and security interests (subject only to
Permitted Liens) securing the Obligations and are not subject to avoidance, disallowance or subordination pursuant to any applicable law, (iii) agrees and acknowledges the Obligations constitute legal, valid and binding obligations of such
Credit Party and that (x) no offsets, defenses or counterclaims to the Obligations or any other causes of action with respect to the Obligations or the Loan Documents exist and (y) no portion of the Obligations is subject to avoidance,
disallowance, reduction or subordination pursuant to any applicable law, (iv) agrees that such ratification and reaffirmation is not a condition to the continued effectiveness of the Loan Documents, and (v) agrees that neither such
ratification and reaffirmation, nor Administrative Agent’s nor any Lender’s solicitation of such ratification and reaffirmation, constitutes a course of dealing giving rise to any obligation or condition requiring a similar or any other
ratification or reaffirmation from each party to the Credit Agreement with respect to any subsequent modifications, consent or waiver with respect to the Credit Agreement or other Loan Documents. Each Credit Party acknowledges and agrees that any of
the Loan Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of
this Agreement. The Credit Agreement and each other Loan Document is in all respects hereby ratified and confirmed. This Agreement shall constitute a “Loan Document” for purposes of the Credit Agreement. 

6. Reference to and Effect on the Credit Agreement. 

(a) Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be
a reference to the Credit Agreement as amended hereby. 
 (b) Except as specifically amended above, the Credit Agreement and all other
documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 

7. Costs and Expenses of the Administrative Agent. The Borrower shall pay on demand all actual and reasonable, documented,
out-of-pocket costs and expenses of the Administrative Agent and all reasonable, out-of-pocket and documented fees, expenses and disbursements of counsel to the Administrative Agent in connection with the negotiation, preparation and execution of
this Agreement and any document, instrument or agreement delivered pursuant to this Agreement, to the extent required pursuant to subsection 10.2 of the Credit Agreement. 

8. Governing Law. This Agreement shall be governed by, and shall be construed in accordance with the internal laws of the State of New
York, without regard to conflicts of laws principles. 

  
 2 

 9. Limited Effect. This Agreement relates only to the specific matters expressly covered
herein, shall not be considered to be a waiver of any rights, claims or remedies any Lender may have under the Credit Agreement or under any other Loan Document (except as expressly set forth herein) or under applicable law, and shall not be
considered to create a course of dealing or to otherwise obligate in any respect any Lender to execute similar or other amendments or grant any waivers under the same or similar or other circumstances in the future. 

10. Headings. Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part
of this Agreement for any other purpose. 
 11. Counterparts. This Agreement may be executed by one or more of the parties hereto on
any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Signatures delivered by facsimile or PDF shall have the same force and effect as manual signatures delivered
in person. 
 [Signature Pages Follow] 

  
 3 

 IN WITNESS WHEREOF, this Agreement has been duly executed as of the day and year first above
written. 
  

					
	BEASLEY MEZZANINE HOLDINGS, LLC,
	as Borrower
		
	By	 	 /s/ B. Caroline Beasley

		 	Name:	 	B. Caroline Beasley
		 	Title:	 	Vice President, Chief Financial Officer Secretary and Treasurer

  

			
	BEASLEY BROADCAST GROUP, INC.,
	BEASLEY FM ACQUISITION CORP.,
	BEASLEY AP HOLDINGS, LLC,
	BEASLEY BA HOLDINGS, LLC,
	WCHZ LICENSE, LLC,
	WGOR LICENSE, LLC,
	 WWNN LICENSE, LLC,
 as Credit
Parties

		
	By	 	 /s/ B. Caroline Beasley

	Name:	 	B. Caroline Beasley
	Title:	 	Vice President, Chief Financial Officer Secretary and Treasurer

  

			
	BEASLEY BROADCASTING OF NEVADA, LLC,
	 KJUL LICENSE, LLC,
 as Credit
Parties

		
	By	 	 /s/ B. Caroline Beasley

	Name:	 	B. Caroline Beasley
	Title:	 	Manager

 
			
	BEASLEY BROADCASTING OF SOUTHWEST FLORIDA, INC.,
	 BEASLEY RADIO, INC.,
 as Credit
Parties

		
	By	 	 /s/ B. Caroline Beasley

	Name:	 	B. Caroline Beasley
	Title:	 	Secretary

  

			
	BEASLEY-REED ACQUISITION PARTNERSHIP,
	KDWN LICENSE LIMITED PARTNERSHIP,
	WAEC LICENSE LIMITED PARTNERSHIP,
	WAZZ LICENSE LIMITED PARTNERSHIP,
	WDAS LICENSE LIMITED PARTNERSHIP,
	WFLB LICENSE LIMITED PARTNERSHIP,
	WIKS LICENSE LIMITED PARTNERSHIP,
	WJBX LICENSE LIMITED PARTNERSHIP,
	WKIS LICENSE LIMITED PARTNERSHIP,
	WKML LICENSE LIMITED PARTNERSHIP,
	WMGV LICENSE LIMITED PARTNERSHIP,
	WNCT LICENSE LIMITED PARTNERSHIP,
	WPOW LICENSE LIMITED PARTNERSHIP,
	WRXK LICENSE LIMITED PARTNERSHIP,
	WSFL LICENSE LIMITED PARTNERSHIP,
	WTMR LICENSE LIMITED PARTNERSHIP,
	WWDB LICENSE LIMITED PARTNERSHIP,
	WXNR LICENSE LIMITED PARTNERSHIP,
	 WXTU LICENSE LIMITED PARTNERSHIP,

as Credit Parties

	
	By: BEASLEY FM ACQUISITION CORP., a general partner of each of the foregoing
		
	By	 	 /s/ B. Caroline Beasley

	Name:	 	B. Caroline Beasley
	Title:	 	Vice President, Chief Financial Officer Secretary and Treasurer

 
			
	WJPT LICENSE LIMITED PARTNERSHIP,
	as a Credit Party
	
	By: BEASLEY RADIO, INC., as general partner
		
	By	 	 /s/ B. Caroline Beasley

	Name:	 	B. Caroline Beasley
	Title:	 	Secretary

  

			
	WQAM LICENSE LIMITED PARTNERSHIP,
	as a Credit Party
	
	By: BEASLEY-REED ACQUISITION PARTNERSHIP, as general partner
	
	By: BEASLEY FM ACQUISITION CORP., as general partner
		
	By	 	 /s/ B. Caroline Beasley

	Name:	 	B. Caroline Beasley
	Title:	 	Vice President, Chief Financial Officer Secretary and Treasurer

  

			
	WXKB LICENSE LIMITED PARTNERSHIP,
	as a Credit Party
	
	By: BEASLEY BROADCASTING OF SOUTHWEST FLORIDA, INC., as general partner
		
	By	 	 /s/ B. Caroline Beasley

	Name:	 	B. Caroline Beasley
	Title:	 	Secretary

 
					
	GENERAL ELECTRIC CAPITAL CORPORATION, as a Lender and as Administrative Agent
		
	By	 	 /s/ Nirmal B. Bivek

		 	Name:	 	Nirmal B. Bivek
		 	Title:	 	Duly Authorized Signatory

 
					
	GE CAPITAL BANK, as a Lender
		
	By	 	 /s/ Heather Leigh Glade

		 	Name:	 	Heather Leigh Glade
		 	Title:	 	Duly Authorized Signatory
	
	 FLORIDA COMMUNITY BANK N.A., as a

Lender

		
	By	 	 /s/ Jonathan Simoens

		 	Name:	 	Jonathan Simoens
		 	Title:	 	Senior Vice President
	
	BANK UNITED N.A., as a Lender
		
	By	 	 /s/ Charles J. Klenk

		 	Name:	 	Charles J. Klenk
		 	Title:	 	Senior Vice President
	
	WEBSTER BANK, as a Lender
		
	By	 	 /s/ Robert E. Meditz

		 	Name:	 	Robert E. Meditz
		 	Title:	 	Vice President
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender
		
	By	 	 /s/ Teddy Koch

		 	Name:	 	Teddy Koch
		 	Title:	 	Assistant Vice President
	
	 BRANCH BANKING AND TRUST COMPANY,

as a Lender

		
	By	 	 /s/ Darren Gersche

		 	Name:	 	Darren Gersche
		 	Title:	 	Senior Vice President

 
					
	U.S BANK NATIONAL ASSOCIATION, as a Lender
		
	By	 	 /s/ Garret Komjathy

		 	Name:	 	Garret Komjathy
		 	Title:	 	Senior Vice President

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