Document:

Filed by Bowne Pure Compliance

 

Exhibit
10.4

AMENDED AND RESTATED TRADEMARK LICENSE AGREEMENT

AMENDED
AND RESTATED TRADEMARK LICENSE AGREEMENT (this “Agreement”)
dated as of March 3, 2008, by and between CBS RADIO INC. (formerly known as Infinity Broadcasting Corporation), a
Delaware corporation having an office at 1515 Broadway, 46th Floor, New York, NY 10036
(“Licensor”), and WESTWOOD ONE, INC., a Delaware corporation having an office at 40 West 57th
Street, 15th Floor, New York, NY 10019 (“Licensee”).

W I
T N E S S E T H:

WHEREAS, Licensor and Licensee previously entered into a Trademark License Agreement, dated as
of March 30, 1999, as amended by the Letter Agreement, dated April 15, 2002 (the “Existing
Trademark License Agreement”);

WHEREAS, Licensor and Licensee are parties to that certain Amended and Restated News
Programming Agreement, dated as of the date hereof (the “News Programming Agreement”), pursuant to
which Licensor shall provide Programming (as defined in the News Programming Agreement) to
Licensee;

WHEREAS, Licensor and Licensee desire to change their existing business relationship by
terminating or amending and restating certain agreements (including the Existing Trademark License
Agreement) and entering into new agreements, in each case as contemplated by that certain Master
Agreement entered into as of October 2, 2007 (the “Master Agreement”); and

WHEREAS, Licensor desires to grant to Licensee the right to use the Trademarks (as defined
below) in connection with the Business, and Licensee accepts such grant, upon the terms and subject
to the conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements
contained herein, the parties hereto agree that the Existing Trademark License Agreement is hereby
amended and restated in its entirety as follows:

1. Definitions. The following capitalized terms shall have the meanings set forth
below. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them
in the News Programming Agreement.

(a) “Affiliate” has the meaning assigned to such term in Rule 405 promulgated under
the Securities Act of 1933, as amended; provided that, with respect to any affiliates of
Licensor, such term shall mean the controlled affiliates of CBS Corporation.

(b) “Business” means the network radio and Metro Networks business and operations of
Licensee, to the extent not in violation of, and consistent with, the terms of the News Programming
Agreement, the Technical Services Agreement and the Station Agreements (each as defined in the
Master Agreement).

 

 

 

(c) “Trademarks” means, subject to Section 9, those trademarks, logos, and service
marks of Licensor listed on Schedule 
A-1 attached hereto and hereby made a part hereof, as well as
such trademarks, logos and service marks developed by the parties together or by Licensor, in each
case, for programming provided by Licensor to Licensee in connection with the Business;
provided that Licensor and Licensee agree and acknowledge that such trademarks, logos and
service marks so developed shall be owned exclusively by Licensor.

(d) “Tradename” shall mean “CBS Radio Network.”

2. License.

(a) Subject to Section 26 of the Master Agreement, Licensor hereby grants to Licensee, and
Licensee hereby accepts, the non-exclusive, fully-paid, royalty-free, right and license throughout
the United States during the Term: (i) to use the name “CBS Radio” and/or the Trademarks solely as
part of the Business but only in connection with (x) programming provided by Licensor under the
News Programming Agreement or (subject to the terms thereof) any other programming agreements
pursuant to which Licensor provides programming to Licensee, or the marketing and promotion
thereof, and (y) the marketing of commercial inventory provided by Licensor, and (ii) to use all
other trademarks associated with the Programming, including the trademarks set forth on Schedule
A-2 attached hereto and hereby made a part hereof, in each case, to the extent of Licensor’s rights
therein and upon the terms and subject to the conditions set forth herein. The foregoing license
includes all modifications of and successors to the foregoing trademarks.

(b) It is understood and agreed that the rights and licenses granted herein shall not
constitute an assignment by Licensor of the Trademarks.

(c) Nothing contained in this Agreement shall be deemed to affect the continued use of the
Trademarks by Licensor on and in connection with any current or future business in which Licensor
engages in at any time. Licensor reserves the right to concurrently use and/or license to others
to use the Trademarks in connection with any goods and/or services, except that, during the Term,
Licensor shall not license or authorize any competitor of Licensee to use any of the Trademarks in
connection with a domestic, English language, AM/FM terrestrial radio (including HD1 and HD2
channels and any subsequently added similar channels used in connection with terrestrial radio
broadcast to the general public) news or traffic network business.

(d) When used by Licensee, neither the name “CBS Radio” nor any of the Trademarks shall be
combined with other trademarks or names other than the Tradename or be used separately from the
Tradename. It is understood and agreed that Licensee shall not have the right to and shall not
register the name “CBS Radio” and/or the Tradename as a trademark, service mark, or tradename.
Furthermore, Licensee shall not have the right to, and shall not, transfer any right, title or
interest in the name “CBS Radio” and/or any of the Trademarks to any third party. In addition,
Licensee shall not authorize any third party to use the name “CBS Radio” and/or any of the
Trademarks, except in connection with performing Licensee’s rights and responsibilities under the
Business. Except as expressly authorized hereby, any purported transfer or authorization shall be
deemed null and void ab initio.

 

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(e) Licensor shall, at its expense, be solely responsible for, and in no event shall Licensee
be responsible for or be entitled to seek, (i) the renewal and maintenance of any or all
registrations and applications for the Trademarks, (ii) procuring any new registrations of the
Trademarks desired by Licensee and approved by Licensor, all in the name of Licensor, and (iii)
recording any person as a registered user of the Trademarks or filing or recording any document to
perfect, maintain or confirm any registration or Licensee’s right to use the Trademarks, as may be
required by the United States. It is the essence of this subparagraph that Licensee cooperate with
Licensor to the best of its ability, at only ministerial cost to it, so as to protect and preserve
Licensor’s trademark rights in the Trademarks for their mutual benefit.

(f) Licensor acknowledges that, during the Term, Licensee’s radio station affiliates will
broadcast the Programming and that such broadcast may include simulcast of the Programming by live
internet streaming by Licensee’s radio station affiliates, and that Licensee’s radio station
affiliates shall have the right to use the Trademarks in connection with the foregoing, provided
that such use is consistent with Section 2 of the News Programming Agreement.

3. Quality Standards.

(a) The nature and quality of all services rendered by Licensee in connection with the
Trademarks, all products, if any, sold or licensed by Licensee under the Trademarks, and all
advertising, promotional, publicity, marketing, and related or other uses of the Trademarks by
Licensee shall conform to the reasonable standards set by Licensor, provided that Licensee is
advised reasonably in advance and in writing of such standards. Without limiting the foregoing:

(i) Licensee shall use the Trademarks in accordance with the standards of quality associated
with the Trademarks as of the date hereof and in a manner that is consistent with and that does not
detract from the goodwill associated with the Trademarks;

(ii) Licensee shall provide Licensor with all materials and information that Licensor shall
reasonably request regarding Licensee’s use of the Trademarks; and

(iii) Licensee shall not use the Trademarks in a manner contrary to the written directions of
Licensor to the extent such directions are consistent with the terms of this Agreement and shall
use the Trademarks in accordance with the written directions of Licensor to the extent such
directions are consistent with the terms of this Agreement.

(b) Licensee shall comply at all times and at its sole expense with all applicable laws and
regulations pertaining to the advertising, publicity, promotion, marketing, sale, license and
distribution of products and services under the Trademarks and shall use the Trademarks only in
accordance with the rules of proper trademark usage. Furthermore, Licensee’s presentation of the
Trademarks shall be subject in each instance to Licensor’s reasonable standard trademark
presentation guidelines, provided that Licensee is advised reasonably in advance and in
writing of such guidelines (and such guidelines are applied, in all material respects, to Licensee
in the same manner as such guidelines are applied to other licensees of the Trademarks). Licensee
shall affix appropriate trademark notices and symbols on
products or material containing the Trademarks in accordance with Licensor’s reasonable
instructions.

 

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(c) Periodically, upon request, but not more often than quarterly, Licensee shall furnish to
Licensor a reasonable and representative sampling of Licensee’s product and representative sampling
of advertising, promotion, publicity and marketing for the purpose of enabling Licensor to
determine Licensee’s compliance with the quality standards provided in this paragraph 3.

4. Term.

(a) Subject to paragraph 9 hereof, the term of this Agreement and the license granted
hereunder shall commence on the date first set forth above and shall terminate at the close of
business on March 31, 2017 (the “Term”).

(b) Upon the expiration or termination of this Agreement, Licensee shall have no right in, and
shall make no further use hereunder of, the Trademarks.

5. Representations and Warranties.

(a) Licensor and Licensee each hereby represent and warrant to the other that: (i) it has all
requisite power and authority to enter into and perform this Agreement; and (ii) its execution,
delivery and performance of this Agreement does not and will not conflict with, violate or cause a
default under any material agreement to which it is, or by which its assets are, bound.

(b) Licensor further represents and warrants to Licensee that: (i) to the best of Licensor’s
knowledge, there are no pending claims, judgments or unpaid settlements against Licensor or any of
its Affiliates relating to the Trademarks which, if adversely determined, would have a material
adverse effect on Licensor or interfere in any material respect with Licensee’s use of the
Trademarks; (ii) to the best of Licensor’s knowledge, there are no threatened claims or litigation
against Licensor or any of its Affiliates relating to the Trademarks which, if adversely
determined, would have a material adverse effect on Licensor or interfere in any material respect
with Licensee’s use of the Trademarks; (iii) the “CBS Radio” and “CBS Radio” together with the CBS
“Eye” design trademarks are validly registered with the United States Patent and Trademark Office;
and (iv) to the best of Licensor’s knowledge, such registered Trademarks are valid and
enforceable.

6. Licensor’s Rights in the Trademarks.

(a) Licensee hereby acknowledges Licensor’s sole rights, titles and interests in and to the
Trademarks and agrees not to claim any rights, titles or interests, in or to the Trademarks except
as permitted by this Agreement.

(b) All uses of the Trademarks and any and all goodwill arising from Licensee’s use of the
Trademarks shall inure solely to the benefit of Licensor, and Licensee shall not assert any claim
to the Trademarks or such goodwill. Licensee will not directly or indirectly contest the validity
of the Trademarks or Licensor’s rights, titles, and interests therein.

 

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(c) At no time shall Licensee use any mark deceptively similar to the Trademarks without
Licensor’s express written consent.

7. Infringement.

(a) Licensee shall notify Licensor promptly after Licensee becomes aware of any infringements,
imitations or unauthorized use of the Trademarks by others. Licensor reserves the right but shall
not have the obligation, to prosecute, and conduct all legal proceedings and litigations involving
the Trademarks and to take any action or institute any proceedings that it may deem proper or
necessary for the protection of the Trademarks. If Licensor elects to do so, it shall offer
Licensee the opportunity to participate therein, and in the event of such participation, the
parties shall share all costs and recoveries one-half for Licensor, one-half for Licensee or in
such other proportion as may be agreed by the parties at the commencement of each action or
proceeding. If Licensor elects not to exercise such right, Licensee may take any such action or
conduct any such proceeding in Licensor’s name, if necessary, at its own expense, and shall be
entitled to all of the recovery, except that Licensor shall have the right to approve any
non-monetary elements of any settlement that materially adversely affects the validity or use of
the Trademarks, which approval shall not be unreasonably withheld. In either event, the parties
will cooperate fully with each other. Licensee shall notify Licensor promptly of any adverse
pending or threatened litigation with respect to the Trademarks, and of any use by third parties,
of which it becomes aware which would or might be adverse to the rights of Licensor or Licensee.

(b) Licensee shall, at the direction of Licensor, promptly discontinue its use of any of the
Trademarks alleged to infringe rights of others, provided that prior to requesting any such
discontinuance of the Trademarks, Licensor will provide Licensee with written documentation
containing details of any alleged infringement and cooperate with Licensee to develop
non-infringing uses.

8. Indemnification.

(a) Licensor shall at all times defend, indemnify and hold Licensee and its directors,
officers, partners, employees, representatives and agents, harmless from and against any and all
claims, causes of action, suits, damages, liabilities, costs and expenses, including reasonable
attorneys’ fees and expenses, arising out of (i) any breach of any representation, warranty,
covenant or agreement made by Licensor hereunder or (ii) any third-party claim of infringement
arising from the use of the Trademarks as described herein to the extent that Licensee’s use of the
Trademarks is in compliance with the terms of this Agreement. Licensee agrees to give Licensor
timely notice of any claim. In the event Licensee fails to give Licensor such notice and, as a
direct result, Licensor is unable to defend or is materially prejudiced in defending such claim,
Licensor need not indemnify with respect to such claim.

 

5

 

(b) Licensee shall at all times defend, indemnify and hold Licensor and its directors,
officers, partners, employees, representatives and agents, harmless from and against any and all
claims, causes of action, suits, damages, liabilities, costs and expenses, including reasonable
attorneys fees and expenses, arising out of: (i) except with respect to any claims covered by
paragraph 8(a) hereof, (A) the manufacture, distribution, sale,
license or other use of the products bearing the Trademarks, as provided herein, or (B) the use of any advertising,
promotion, publicity or marketing material bearing the Trademarks as provided herein; or (ii) any
breach of any representation, warranty, covenant or agreement made by Licensee hereunder. Licensor
agrees to give Licensee timely notice of any claim. In the event Licensor fails to give Licensee
such notice and as a direct result Licensee is unable to defend, or is materially prejudiced in
defending, such claim, Licensee need not indemnify with respect to such claim.

9. Termination. This Agreement may be terminated prior to the expiration of the Term
only by (i) mutual written consent of Licensor and the Licensee or (ii) by either party hereto if
it (x) notifies the other party in writing that such other party is in material breach of one or
more of its material covenants under this Agreement and such breach is not cured within 30 days
written of such notice, (y) it submits to arbitration under Section 12 such breach or breaches and
requests termination as a remedy, and (z) the arbitrator(s) determines (A) that the breaching party
has in fact materially breached one or more material covenants under this Agreement, (B) that such
breach or breaches have not been cured and have caused significant harm to the non-breaching party,
and (C) that termination of this Agreement is an appropriate remedy (after considering other
appropriate remedies short of termination). Notwithstanding the foregoing, the individual licenses
associated with the individual trademarks set forth on Schedule A-1 and Schedule A-2 shall
automatically terminate concurrently with the termination of the News Programming Agreement and,
upon such termination of the News Programming Agreement, “Trademarks” shall mean only those
trademarks, logos and service marks of Licensor set forth on Schedule B attached hereto and hereby
made a part hereof. Further, this Agreement may be terminated by the non-breaching party upon
thirty days written notice following the occurrence of a Fundamental Default (as such term is
defined in the Master Agreement). In addition, this Agreement shall automatically terminate
immediately upon any termination of the Master Agreement in accordance with its terms.

10. Assignment.

(a) This Agreement shall be binding upon and shall inure to the benefit of the parties hereto
and their respective successors and permitted assigns. Neither Licensor nor Licensee may assign
its rights or obligations hereunder (which include, without limitation, Licensee’s rights and
obligations related to the Tradename and the Trademarks) without the prior written consent of the
other party hereto; provided that (i) subject to Section 26 of the Master Agreement,
Licensee may assign all or any of its rights and related obligations hereunder to any of its
controlled Affiliates, or a third party who acquires more than 50% of the equity or voting
interests of Licensee, all or substantially all of the assets of Licensee or all or substantially
all of the assets comprising any significant business unit or division of Licensee, in each case,
in a single transaction or series of related transactions, without the prior consent of Licensor;
provided that (w) in the case of any assignment in connection with the sale of all or
substantially all of the assets comprising any significant business unit or division of Licensee,
such assignment shall be limited to those rights and obligations that are related to such business
unit or division, (x) in connection with any permitted assignment under this clause (i), the
assignee shall assume all of the obligations relating to the rights being assigned, (y) no
assignment under this clause (i) shall relieve Licensee from any of its obligations or liabilities
hereunder and (z) Licensee may not, without the prior written consent of Licensor, assign under
this clause (i) any of the Tradename or the Trademarks set forth on Schedules A-1 and A-2 (other
than any of the

 

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trademarks, logos or service marks that are set forth on Schedule B) unless such assignment is
concurrent with a permitted assignment of the rights and related obligations under the News
Programming Agreement (in accordance with the terms thereof) to the same assignee; (ii) Licensor
may assign, without the prior consent of Licensee, all or any of its rights and related obligations
hereunder to any of its Affiliates, provided that no assignment under this clause (ii)
shall relieve Licensor from any of its obligations or liabilities hereunder; and (iii) in respect
of any assignment of Licensor’ rights and related obligations hereunder to any third party who is
not an Affiliate of Licensor, Licensee’s prior written consent shall not be unreasonably withheld.
Any purported assignment or transfer in violation of the provisions of this Section 10 is null and
void and of no force or effect. For the avoidance of doubt, (i) Licensee agrees that a sale of
Licensor in its entirety, whether directly or indirectly and whether by merger, asset sale, stock
sale or otherwise, shall not constitute an assignment for purposes of this Agreement or otherwise
require the consent of Licensee and (ii) Licensor agrees that, subject to Section 26 of the Master
Agreement, a sale of Licensee in its entirety whether directly or indirectly and whether by merger,
asset sale, stock sale or otherwise, shall not constitute an assignment for purposes of this
Agreement or otherwise require the consent of Licensor. In addition, Licensor acknowledges that
Licensee may engage third parties to manage the distribution of the Programming, or act as an agent
of Licensee relating to the distribution or production of Programming for Licensee or sale of any
commercial inventory associated with the Programming, in each case, not from any broadcast
facilities leased by, or leased from, Licensor (other than independent contractors who shall be
permitted access to such broadcast facilities consistent with Past Practices (as such term is
defined in the Technical Services Agreement)), and Licensee agrees that it shall remain, and any
third party engaged by it shall be, subject to all of the applicable terms and conditions of this
Agreement, the News Programming Agreement, the Technical Services Agreement and the Station
Agreements. Furthermore, Licensor acknowledges that an engagement described in the immediately
preceding sentence shall not constitute an assignment hereunder.

(b) None of the rights and licenses granted to Licensee pursuant to this Agreement shall be,
by virtue of this Agreement, exercisable by any of the shareholders or Affiliates of Licensee.

11. Notices.

(a) Any notice, demand, waiver, approval or consent (collectively referred to as “notice”)
required or permitted herein shall be in writing and shall be given personally and receipted, by
messenger, by air courier, by facsimile, by prepaid registered or certified mail, with return
receipt requested, addressed to the parties at their respective addresses set forth below:

	 	 	 
	 

	 	If to Licensee:
	 
	 	 
	 

	 	Westwood One, Inc.
	 

	 	40 West 57th Street, 15th Floor
	 

	 	New York, New York 10019
	 

	 	Attention: General Counsel
	 

	 	Telecopy: (212) 641-2198

 

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	 	with a copy to:
	 
	 	 
	 

	 	Skadden, Arps, Slate, Meagher & Flom LLP
	 

	 	300 South Grand Avenue
	 

	 	Los Angeles, California 90071
	 

	 	Attention: Brian J. McCarthy, Esq.
	 

	 	Telecopy: (213) 687-5600
	 
	 	 
	 

	 	If to Licensor:
	 
	 	 
	 

	 	CBS Radio Inc.
	 

	 	1515 Broadway, 46th Floor
	 

	 	New York, New York 10036
	 

	 	Attention: Chairman & CEO
	 

	 	Telecopy: (212) 846-2342
	 
	 	 
	 

	 	with a copy to each of:

	 	 	 
	 

	 	CBS Corporation

	 

	 	51 West 52 Street

	 

	 	New York, New York 10019

	 

	 	Attention: General Counsel

	 

	 	Telecopy: (212) 975-4215

	 

	 	 
	 

	 	Weil, Gotshal & Manges LLP
	 

	 	767 Fifth Avenue
	 

	 	New York, New York 10153
	 

	 	Attention: Howard Chatzinoff, Esq.
	 

	 	                 Michael
 Lubowitz, Esq.
	 

	 	Telecopy: (212) 310-8007

A notice shall be deemed received upon the date of delivery if given personally, by messenger, by
air courier, or by facsimile, or, if given by mail, on the date set forth on the registered or
certified mail receipt.

(b) Any party may change its address for the purposes of notice by giving notice in accordance
with the terms and conditions of this paragraph 11.

12. Arbitration. Any dispute, controversy or claim arising out of or relating to this
Agreement or the breach, termination or validity thereof (“Dispute”), shall on the demand of any
party be finally and exclusively resolved by arbitration in accordance with the then-prevailing
JAMS Comprehensive Arbitration Rules and Procedures as modified herein (the “Rules”);
provided, however, that any party hereto shall have the right to seek injunctive
relief against the other party hereto in the courts of New York, New York, prior to the resolution
of any Dispute by arbitration in accordance with this Section 12. There shall be three neutral
arbitrators of whom each party shall select one. The claimant shall select its arbitrator in its
demand for arbitration and the respondent shall select its arbitrator within 30 days after receipt
of the demand for arbitration. The two arbitrators so appointed shall select a third arbitrator to
serve as chairperson within fourteen days of the designation of the second of the two arbitrators.
If any arbitrator is not timely appointed, at the request of any party such arbitrator shall be
appointed by JAMS pursuant to the listing, striking and ranking procedure in the Rules. The place
of arbitration shall be New York, New York. The arbitral tribunal shall be required to follow the
law of the State of New York. The arbitral tribunal is not empowered
to award damages in excess of compensatory damages, and each party hereby irrevocably waives any right to recover
punitive, exemplary or similar damages with respect to any Dispute. Any arbitration proceedings,
decision or award rendered hereunder and the validity, effect and interpretation of this
arbitration provision shall be governed by the Federal Arbitration Act, 9 U.S.C. §1 et seq. The
award shall be final and binding upon the parties and shall be the sole and exclusive remedy
between the parties regarding any claims, counterclaims, issues or accounting presented to the
arbitral tribunal. Judgment upon any award may be entered in any court having jurisdiction.

 

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13. Further Instruments. The parties shall promptly execute and deliver all further
instruments, and make all further filings, necessary or desirable to carry out the purposes of this
Agreement.

14. Cumulative Remedies. All remedies, rights, undertakings, obligations and
agreements contained herein shall be cumulative, and none of them shall be in limitation of any
other remedy, right, undertaking, obligation or agreement of either party, including, without
limitation, any rights or remedies accruing under the Uniform Commercial Code and any other
applicable law. Without limiting the foregoing, this Agreement shall not lessen or affect the
right of Licensor to enjoin or obtain relief against any acts of infringement or unfair
competition.

15. Modification, Amendment, Supplement or Waiver. No modification, amendment,
supplement to or waiver of this Agreement or any of its provisions shall be binding upon the
parties hereto unless made in writing and duly signed by the parties to this Agreement. A failure
or delay of any party to this Agreement to enforce at any time any of the provisions of this
Agreement or to require at any time performance of any of the provisions hereof shall in no way be
construed to be a waiver of such provisions of this Agreement. A waiver by either party of any of
the terms and conditions of this Agreement in any one instance shall not be deemed a waiver of such
terms or conditions in the future, or of any subsequent breach thereof.

16. Entirety of Agreement. This Agreement and the New Transaction Documents (as
defined in the Master Agreement) and the exhibits and schedules hereto and thereto, embody the
entire agreement and understanding of the parties hereto and supersede any and all prior
agreements, arrangements and understandings relating to the matters provided for herein, including
the Existing Trademark License Agreement, with the exception of the indemnification provisions of
the Existing Trademark License Agreement, which indemnification provisions shall continue in
accordance with their terms relating to third party claims as contemplated by the Mutual General
Release and Covenant Not to Sue, dated as of the date hereof, by and between Licensor and Licensee.

17. Severability. In the event any one or more of the provisions of this Agreement
shall for any reason be held to be invalid, illegal or unenforceable, such provision shall be
deleted from this Agreement and the remaining provisions of this Agreement shall be unimpaired.

18. Headings. The headings in this Agreement are for purposes of reference only and
shall not in any way limit or otherwise affect the meaning or interpretation of any of the terms
hereof.

 

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19. Counterparts. This Agreement may be executed in counterparts and by facsimile
signature, each of which shall be deemed to be an original and all of which together shall be
deemed to be one and the same instrument.

[The remainder of this page is intentionally left blank.]

 

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IN WITNESS WHEREOF, the undersigned duly authorized representatives of the parties have
executed this Agreement as of the date first written above.

	 	 	 	 	 
	 	CBS RADIO INC.

 	 
	 	By:  	/s/
Louis J. Briskman	 
	 	 	Name:  	Louis J. Briskman	 
	 	 	Title:  	EVP & Assistant Secretary	 
	 
	 	WESTWOOD ONE, INC.

 	 
	 	By:  	/s/
David Hillman	 
	 	 	Name:  	David Hillman	 
	 	 	Title:  	CAO & GC	 
	 

Signature Page to Amended and Restated Trademark License Agreement

 

 

 

Schedule A-1

Trademarks, Logos and Service Marks

(See Attached.)

SCHEDULE
A-1

[Intentionally omitted.]

 

 

 

Schedule A-2

Trademarks, Logos and Service Marks

(See Attached.)

SCHEDULE A-2

[Intentionally
omitted.]

 

 

 

Schedule B

Trademarks, Logos and Service Marks Covered by Licenses To Be Automatically

Terminated Upon the Termination of the News Programming Agreement

(See Attached.)

SCHEDULE B

[Intentionally
omitted.]Filed by Bowne Pure Compliance

 

Exhibit
10.5

REGISTRATION RIGHTS AGREEMENT

This
Registration Rights Agreement (this “Agreement”) is entered
into as of March 3, 2008, by and between Westwood One, Inc., a Delaware corporation (the “Company”), and CBS Radio
Inc. (formerly known as Infinity Broadcasting Corporation), a Delaware corporation (“CBS”).

W I
T N E S S E T H:

WHEREAS, CBS and its subsidiaries currently own 16,000,000 shares (the “CBS Shares”) of the
common stock, par value $.01 per share, of the Company (“Common Stock”);

WHEREAS, the Company and CBS desire in this Agreement to provide for, with respect to the CBS
Shares, (i) the granting to CBS of the registration rights set forth herein, and (ii) certain
contractual restrictions on any sale or disposition thereof;

NOW, THEREFORE, in consideration of the premises and agreements contained herein, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

SECTION 1

REGISTRATION RIGHTS

1.1 Definitions. As used in this Section 1:

(a) The term “Automatic Shelf Registration Statement” means an “automatic shelf registration
statement” as defined in Rule 405 promulgated under the Securities Act of 1933, as amended (the
“1933 Act”).

(b) The terms “register,” “registered,” and “registration” refer to a registration effected by
filing with the Securities and Exchange Commission (the “SEC”) a registration statement
(“Registration Statement”) in compliance with the 1933 Act and the declaration or ordering by the
SEC at the effectiveness of such Registration Statement.

(c) The term “Registrable Securities” means the CBS Shares and any Common Stock issued as (or
issuable upon the conversion or exercise of any warrant, right, or other security that is issued
as) a dividend, stock split or other distribution with respect to, or in exchange for, upon
reclassification or in replacement of, Registrable Securities. In the event of any
recapitalization by the Company, whether by stock split, reverse stock split, stock dividend or
otherwise, the number of shares of Registrable Securities used throughout this Agreement for
various purposes shall be proportionately increased or decreased.

 

 

 

(d) The term “Shelf Registration Statement” means a “shelf” registration statement of the
Company relating to an offering pursuant to Rule 415 of the 1933 Act (which shall be an Automatic
Shelf Registration Statement if the Company is a Well-Known Seasoned Issuer) which covers all of
the Registrable Securities, on Form S-3 under the 1933 Act, and all amendments and supplements to
such registration statement, including post-effective amendments, in each case including the
prospectus contained therein, all exhibits thereto and all materials incorporated by reference
therein.

(e) The term “Well-Known Seasoned Issuer” means a “well-known seasoned issuer” as defined in
Rule 405 of the General Rules and Regulations promulgated under the 1933 Act and which (a) is a
“well-known seasoned issuer” under paragraph (1)(i)(A) of such definition or (b) is a “well-known
seasoned issuer” under paragraph (1)(i)(B) of such definition and is also eligible to register a
primary offering of its securities relying on General Instruction I.B.1 of Form S-3 or Form F-3
under the 1933 Act.

1.2 Demand Registration. If at any time on or after December 1, 2007, the Company
receives from CBS or its permitted transferees a written request to register shares of Registrable
Securities (a “Demand”), the Company shall prepare and file a Registration Statement under the 1933
Act covering the shares so requested to be registered on Form S-3 or other available form (which
may be a Shelf Registration Statement if so requested by CBS or its permitted transferees), and
shall use its best efforts to cause as expeditiously as possible such Registration Statement to
become effective or if the Company is a Well-Known Seasoned Issuer at time of receipt of a Demand,
Company shall cause the Registration Statement to be filed pursuant to an Automatic Shelf
Registration Statement; provided that in no event shall the Company be obligated to file an
Automatic Shelf Registration Statement prior to December 31, 2007. The Company shall be required
to register the Registrable Securities pursuant to this Section 1.2 in response to any Demand by
CBS, provided (i) no Demand may be made by CBS until on and after December 1, 2007, (ii)
only one Demand may be made by CBS (together with all permitted assignees thereof pursuant to
Section 1.8) in any calendar year and (iii) only four (4) Demands may be made by CBS hereunder
(which shall include any Demand for a Shelf Registration Statement). The registration of
Registrable Securities under this Section 1.2 shall not be deemed to have been requested unless
such registration becomes effective (provided that if, within one hundred and twenty (120)
days after it has become effective, the offering of Registrable Securities pursuant to such
registration is interfered with by any stop order, injunction or other order or requirement of the
SEC or other governmental agency or court, such registration will be deemed not to have become
effective unless 80% of such Registrable Securities have been sold pursuant to such registration),
and if the registration has remained effective for one hundred and twenty (120) days without such
interference such registration shall be deemed to have been requested regardless of whether any of
the Registrable Securities are ultimately sold pursuant to such registration. The Company may
grant piggyback registration rights with respect to any registration statement demanded pursuant to
this
Section 1.2, provided that any such rights shall be subject to the priority of CBS’s
rights under this Section 1.2.

 

2

 

1.3 Postponement. If at the time a request for registration is made pursuant to 1.2,
the Company is in the process of registering securities under the 1933 Act for sale by it or has
pending or in process a material transaction, the disclosure of which would, in the good faith
judgment of the Board of Directors of the Company, materially and adversely affect the Company, the
Company may defer the filing (but not the preparation) of the requested Registration Statement (a)
in the case of another registration statement in process, until the filing or abandonment of such
registration statement but in no event longer than one hundred and five (105) days, and (b) in the
case of a material transaction, for up to one hundred and five (105) days (but the Company shall
use its reasonable best efforts to resolve the transaction and file the Registration Statement as
soon as practicable).

1.4 Incidental Registrations.

(a) If at any time or from time to time the Company shall determine to register any of its
securities, either for its own account or the account of security holders, other than a
registration relating solely to employee benefit plans or a registration on Form S-4 relating
solely to an SEC Rule 145 transaction, the Company will:

(i) promptly give to CBS written notice thereof (which shall include a list of the
jurisdictions in which the Company intends to attempt to qualify such securities under the
applicable blue sky or other state securities laws); and

(ii) include in such registration (and any related qualification under blue sky laws or other
compliance), and in any underwriting involved therein, all the Registrable Securities specified in
a written request, made by CBS within thirty (30) days after receipt of such written notice from
the Company, except as set forth in Section 1.4(b) below.

(b) If the registration of which the Company gives notice is for a registered public offering
involving an underwriting, the Company shall so advise CBS as a part of the written notice given
pursuant to Section 1.4(a)(i). In such event the right of CBS to registration pursuant to this
Section 1.4 shall be conditioned upon CBS’s participation in such underwriting and the inclusion of
CBS’s Registrable Securities in the underwriting to the extent provided herein. CBS, together with
the Company and the other parties distributing their securities through such underwriting, shall
enter into an underwriting agreement in customary form with the underwriter or underwriters
selected for such underwriting by the Company. Notwithstanding any other provision of this Section
1.4, if the underwriter determines that marketing factors require a limitation of the number of
shares or type of securities to be underwritten, the underwriter may limit the number of
Registrable Securities to be included in the registration and underwriting, or may exclude
Registrable Securities entirely from such registration and underwriting

 

3

 

subject to the terms of this Section. The Company shall so advise all holders of the
Company’s securities that would otherwise have a right to be so registered and underwritten. The
number of shares of such securities, including Registrable Securities, that may be included in the
registration and, underwriting shall be allocated among CBS and all such other holders in
proportion, as nearly as practicable, to the respective amounts of securities of the Company
proposed to be included in such underwritten offering by all shareholders other than the Company;
provided, however, that the rights of CBS to include all or any allocable portion
of such Registrable Securities shall be subject to the priority (prior to any allocation to CBS or
others) of the holders of existing “demand” registration rights similar to that provided in Section
1.2 hereof existing on the date hereof, which rights are identified on Schedule 1.4(b), and of
other holders of demand registration rights permitted pursuant to the
proviso to Section 1.11 hereof. No securities excluded from the underwriting by reason of the underwriter’s marketing
limitation shall be included in such registration. If CBS disapproves of the terms of the
underwriting, it may elect to withdraw therefrom by written notice to the Company and the
underwriter. The Registrable Securities so withdrawn shall also be withdrawn from registration.

(c) CBS agrees that any shares of Registrable Securities which are not included in an
underwritten public offering described in Section 1.4(b) shall not be publicly sold by CBS for a
period, not to exceed one hundred and twenty (120) days, which the managing underwriter reasonably
determines is necessary in order to effect such underwritten public offering.

1.5 Expenses of Registration. All expenses incurred in connection with the
registrations effected pursuant to Section 1.2 and all registrations effected pursuant to Section
1.4, including, without limitation, all registration, filing, listing and qualification fees
(including SEC, securities exchange, National Association of Securities Dealers Inc. and blue sky
fees and expenses), printing expenses, escrow fees, fees and disbursements of counsel for each of
the Company and CBS (if CBS is participating in such registration), and expenses of any special
audits and/or “cold comfort” letters incidental to or required by such registration, fees and
disbursements of underwriters customarily paid by issuers or sellers of securities, and the
reasonable fees and expenses of any special experts retained by the Company in connection with the
requested registration shall be borne by the Company; provided, however, that the
Company shall not be required to pay stock transfer taxes or underwriters’ discounts or commissions
relating to Registrable Securities.

1.6 Obligations of the Company. Whenever required under this Section 1 to effect the
registration of any Registrable Securities, the Company shall, as expeditiously as reasonably
possible:

(a) prepare and file with the SEC (but in any event within ninety (90) days after the date of
the Demand pursuant to Section 1.2) a Registration Statement with respect to such Registrable
Securities (which, in the case of a Demand registration pursuant to Section 1.2, shall be on Form
S-3 (and which shall be an Automatic Shelf Registration Statement if available to the Company) or other available form
designated by the underwriters or CBS) and use its diligent best efforts to cause such Registration
Statement to become effective, and, upon the request of CBS, keep such Registration Statement
effective for up to one hundred and twenty (120) days or such longer period as the Company may
agree upon, or until CBS has completed the distribution relating thereto, whichever occurs first;

 

4

 

(b) prepare and file with the SEC such amendments and supplements to such Registration
Statement and the prospectus used in connection with such Registration Statement as may be
necessary to keep such registration statement effective as provided in Section 1.6(a) and to comply
with the provisions of the 1933 Act with respect to the disposition of all securities covered by
such Registration Statement, provided that, before filing a Registration Statement or
prospectus, or any amendments or supplements thereto, the Company will furnish to CBS copies of all
documents proposed to be filed, which documents will be submitted to CBS and its counsel for
comment;

(c) furnish to CBS such numbers of copies of the registration statement, the prospectus,
including a preliminary prospectus, and of each amendment and supplement (in each case, including
all exhibits), in conformity with the requirements of the 1933 Act, and such other documents as CBS
may reasonably request in order to facilitate the disposition of Registrable Securities owned by
CBS;

(d) use its reasonable best efforts to register and qualify the securities covered by such
Registration Statement under such other securities or Blue Sky laws of such jurisdictions in such
states as shall be reasonably necessary to facilitate an orderly distribution of the Registrable
Securities, provided that the Company shall not be required in connection therewith or as a
condition thereto to qualify to do business in any such jurisdiction that, but for the requirements
of this Section 1.6(d), it would not be obligated to be so qualified or to file a general consent
to service of process in any such states or jurisdictions;

(e) use its reasonable best efforts to cause such securities covered by such Registration
Statement to be registered with or approved by such other governmental agencies or authorities of
the United States of America or any state thereof as may be necessary to enable CBS to consummate
the disposition of such securities;

(f) in the event of any underwritten public offering, enter into and perform its obligations
under an underwriting agreement, usual and customary in form, with the managing underwriter of such
offering; CBS shall also enter into and perform its obligations under such agreement; and the
Company shall take such other actions as the underwriters reasonably request in order to expedite
or facilitate a disposition of such securities;

 

5

 

(g) use its best efforts to cause all such securities covered by such Registration Statement
to be listed on any securities exchange on which the Common Stock is then listed, and if the Common
Stock is not already so listed at such time, to use its best efforts promptly to cause all such securities to be listed on either the
New York Stock Exchange or the American Stock Exchange or to be included in the National
Association of Securities Dealers Automotive Quotation System on the National Market List; and to
provide a transfer agent and registrar for such securities covered by such Registration Statement
no later than the effective date of such Registration Statement;

(h) use its best efforts to obtain a “cold comfort” letter or letters, usual and customary in
form, from the Company’s independent public accountants and covering matters of the type
customarily covered by “cold comfort” letters as CBS shall reasonably request;

(i) notify CBS at any time when a prospectus relating thereto is required to be delivered
under the 1933 Act of the happening of any event as a result of which, or of the Company becoming
otherwise aware that, the prospectus included in such Registration Statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in the light of the
circumstances then existing, and at the request of CBS, prepare and furnish to CBS a reasonable
number of copies of an amended or supplemental prospectus as may be necessary so that, as
thereafter delivered to the purchasers of such securities under such Registration Statement, such
prospectus shall not include an untrue statement of a material fact or a misstatement of a material
fact required to be stated therein or necessary to make the statements therein not misleading in
light of the circumstances then existing; and

(j) make reasonably available for inspection by representatives of CBS, by any underwriter
participating in any disposition to be effected pursuant to such Registration Statement and by any
attorney, accountant or other agent retained by CBS or any such underwriter, all pertinent
financial and other records, pertinent corporate documents and properties of the Company reasonably
requested by such persons in connection with such Registration Statement.

CBS agrees that, upon receipt of any notice from the Company of the happening of any event
described in Section 1.6(i), CBS will forthwith discontinue disposition of such securities pursuant
to such Registration Statement until CBS’s receipt of the copies of the supplemental or amended
prospectus contemplated by Section 1.4(i), and, as so directed by the Company, CBS will deliver to
the Company (at the Company’s expense) all copies, other than permanent file copies then in CBS’s
possession, of the prospectus covering such securities covered by such Registration Statement
current at the time of receipt of such notice. In the event the Company shall give any such
notice, the period mentioned in Section 1.6(a) shall be extended by the number of days during the
period from the date of the giving of such notice pursuant to Section 1.6(i) and through the date
when each seller of such securities covered by such Registration Statement shall have received the
copies of the supplemented or amended prospectus contemplated by Section 1.6(i).

 

6

 

1.7 Selection of Underwriter. In any underwritten registration which is being
effected pursuant to Section 1.2, CBS shall have the exclusive right to designate the managing
underwriter or underwriters with respect to the related offer, which underwriter or underwriters
must be reasonably acceptable to the Company and shall be engaged pursuant to customary market
terms. In all other registrations, the Company shall select, in its sole discretion, the managing
underwriter or underwriters with respect to the related offering of the Common Stock.

1.8 Indemnification.

(a) The Company will, and does hereby undertake to, indemnify and hold harmless CBS, each of
CBS’s officers, directors and affiliates, and each person controlling CBS, with respect to any
registration, qualification, listing, or compliance effected pursuant to this Section 1, and each
underwriter, if any (including any broker or dealer which may be deemed an underwriter), and each
person who controls any underwriter (including any such broker or dealer), of the Registrable
Securities held by or issuable to CBS, against all claims, losses, damages, liabilities and
expenses, joint or several (or actions in respect thereto whether or not a party thereto), to which
they may become subject under the 1933 Act, the Securities Exchange Act of 1934, as amended (the
“1934 Act”), or other federal, state or common law, or otherwise, arising out of or based on (i)
any untrue statement (or alleged untrue statement) of a material fact contained in any preliminary,
final or summary prospectus, offering circular, or other similar document or any amendment or
supplement thereto (including any related Registration Statement, notification, or the like)
incident to any such registration, qualification, listing, or compliance, or arising out of or
based upon any omission (or alleged omission) to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading, or (ii) any violation or
alleged violation by the Company of any federal, state or common law, rule or regulation applicable
to the Company in connection with any such registration, qualification, or compliance, and will
reimburse, as incurred, CBS, each such underwriter, and each such director, officer, affiliate and
controlling person, for any legal and any other expenses reasonably incurred in connection with
investigating or defending any such claim, loss, damage, liability, or action (whether or not the
indemnified party is a party to any proceeding); provided that the Company will not be
liable in any such case to the extent that any such claim, loss, damage, liability or expense
arises out of or is based on any untrue statement or omission based upon written information
furnished to the Company by an instrument duly executed by CBS or by such underwriter and stated to
be specifically for use therein. Such indemnity shall remain in full force and effect regardless
of any investigation made by or on behalf of CBS or any other indemnified party and shall survive
the transfer of such securities by CBS.

 

7

 

(b) CBS will indemnify the Company, each of its directors, and each officer who signs a
Registration Statement in connection therewith, and each person controlling the Company, each
underwriter, if any, and each person who controls any underwriter, of the Company’s securities
covered by such a Registration Statement, against all claims, losses, damages, liabilities and
expenses, joint or several (or actions in respect thereto whether or not a party thereto) arising out of or based on any untrue
statement (or alleged untrue statement) of a material fact contained in any such Registration
Statement, preliminary, final or summary prospectus, offering circular, or other document, or any
omission (or alleged omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, and will reimburse, as incurred, the
Company, each such underwriter and each such director, officer, partner, and controlling person,
for any legal or any other expenses reasonably incurred in connection with investigating or
defending any such claim, loss, damage, liability or action (whether or not the indemnified party
is a party to any proceeding), in each case to the extent, but only to the extent, that such untrue
statement (or alleged untrue statement) or omission (or alleged omission) was made in such
Registration Statement, preliminary, final or summary prospectus, offering circular or other
document, in reliance upon and in conformity with written information furnished to the Company by
an instrument duly executed by CBS and stated to be specifically for use therein; provided,
however, that the liability of CBS hereunder shall be limited to the net proceeds received
by CBS from the sale of securities under such Registration Statement.

(c) Each party entitled to indemnification under this Section 1.8 (the “Indemnified Party”)
shall give notice to the party required to provide such indemnification (the “Indemnifying Party”)
of any claim as to which indemnification may be sought promptly after such Indemnified Party has
actual knowledge thereof, and shall permit the Indemnifying Party to assume the defense of any such
claim or any litigation resulting therefrom; provided that counsel for the Indemnifying
Party, who shall conduct the defense of such claim or litigation, shall be subject to approval by
the Indemnified Party (whose approval shall not be unreasonably withheld) and the Indemnified Party
may participate in such defense at the Indemnifying Party’s expense if representation of such
Indemnified Party would be inappropriate due to actual or potential differing interests between
such Indemnified Party and any other party represented by such counsel in such proceeding; and
provided further that the failure of any Indemnified Party to give notice as
provided herein shall not relieve the Indemnifying Party of its obligations under this Section,
except to the extent that such failure to give notice shall materially adversely affect the
Indemnifying Party in the defense of any such claim or any such litigation. No Indemnifying Party,
in the defense of any such claim or litigation, shall except with the consent of each Indemnified
Party, consent to entry of any judgment or enter into any settlement that does not include as an
unconditional term thereof the giving by the claimant or plaintiff therein, to such Indemnified
Party, of a full and final release from all liability in respect to such claim or litigation.

(d) Indemnification similar to that specified in this Section 1.8 (with appropriate
modifications) shall be given by the Company and CBS with respect to any required registration or
other qualification of securities under any federal or state law or regulation or governmental
authority other than the 1933 Act.

 

8

 

(e) If recovery is not available under the foregoing indemnification provisions of this
Section 1.8 for any reason other than as expressly specified therein, the parties entitled to
indemnification by the terms thereof shall be entitled to contribution to liabilities and expenses. In determining the amount of
contribution which the respective parties are entitled, there shall be considered the relative
fault of each party in connection with the statements or omissions which resulted in such claims,
losses, damages or actions, as well as other equitable considerations appropriate under the
circumstances. No person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. Notwithstanding anything in this section 1.8(e), CBS will not be
obligated to make contributions which, in the aggregate, exceed the amount for which it would have
been liable pursuant to Section 1.6(b) had indemnification been available thereunder.

(f) The obligations of the parties under this Section 1.8 shall be in addition to any
liabilities which any party may otherwise have to any other party.

1.9 Information by CBS. CBS shall furnish to the Company such information regarding
CBS and the distribution proposed by CBS as the Company may reasonably request in writing and as
shall be required in connection with any registration, qualification, or compliance referred to in
this Section 1.

1.10 Transfer of Registration Rights. The rights contained in Sections 1.2 and 1.4
hereof, to cause the Company to register the Registrable Securities, and all other rights of CBS
hereunder, may be assigned or otherwise conveyed to a transferee or assignee of Registrable
Securities, provided that such transferee or assignee (or, if such transferee or assignee
is a wholly-owned subsidiary of CBS Corporation, together with CBS Corporation and other
wholly-owned subsidiaries of CBS Corporation) acquires at least 2,800,000 shares of the Common
Stock constituting Registrable Securities held by the transferring holder, and, provided
further, that the Company is given written notice by the transferor at the time of or
within a reasonable time after said transfer, stating the name and address of said transferee or
assignee and identifying the securities with respect to which such registration rights are being
assigned.

1.11 Limitations on Subsequent Registration Rights. From and after the date of this
Agreement, the Company shall not, without the prior written consent of CBS, enter into any
agreement with any holder or prospective holder of any securities of the Company which would allow
such holder or prospective holder to (a) require the Company to effect a registration under terms
and conditions inconsistent with CBS’s registration rights under Sections 1.2 or 1.4 hereof, or (b)
include any securities in any registration filed under Section 1.2 hereof, unless, under the terms
of such agreement, such holder or prospective holder may include such securities in any such
registration only to the extent of such holder’s allocable portion consistent with Section 1.4(b);
provided, however, that the Company may grant rights to demand registrations under
which such holders shall have priority (prior to allocation among CBS and other holders possessing
“piggyback” registration rights, but not prior to CBS’s Demand rights under Section 1.2 hereof).

 

9

 

1.12 Rule 144 Reporting. With a view to making available to CBS the benefits of
certain rules and regulations of the SEC which may permit the sale of the Registrable Securities to
the public without registration, the Company agrees to use its reasonable best efforts to:

(a) at all times make and keep public information available, as those terms are understood and
defined in SEC Rule 144 or any similar or analogous rule promulgated under the 1933 Act;

(b) file with the SEC, in a timely manner, all reports and other documents required of the
Company under the 1933 Act and 1934 Act; and

(c) so long as CBS Corporation or any of its subsidiaries owns any Registrable Securities,
furnish to CBS forthwith upon request: (i) a written statement by the Company as to its compliance
with the reporting requirements of (A) said Rule 144 of the 1933 Act, (B) the 1993 Act and (C) the
1934 Act; (ii) a copy of the most recent annual or quarterly report of the Company; and (iii) such
other reports and documents as CBS may reasonably request in availing itself of any rule or
regulation of the SEC allowing it to sell any such securities without registration.

SECTION 2

MISCELLANEOUS

2.1 Entire Agreement. This Agreement constitutes the entire agreement of the parties
and supersedes all prior written or oral agreements, contemporaneous oral agreements,
understandings and negotiations between the parties with respect to the subject matter hereof.

2.2 Governing Law. This Agreement shall be construed in accordance with and governed
by the laws of the State of New York, its rules of conflict of laws notwithstanding.

2.3 Amendments and Waivers. This Agreement may not be modified, amended or waived
except by written document specifically identifying this Agreement and signed by the parties,
except that waivers may be effected by such written document if only signed by the party against
which such waiver is sought to be enforced.

2.4 Headings. The headings included in this Agreement are for convenience of the
parties only and shall not affect the construction or interpretation of this Agreement.

2.5 Attorneys’ Fees. In the event of litigation or other proceeding in connection
with or related to this Agreement, the prevailing party in such litigation or proceeding shall be
entitled to reimbursement from the opposing party of all reasonable
expenses, including, without limitation, reasonable attorneys’ fees and expenses of
investigation in connection with such litigation or proceeding.

 

10

 

2.6 Notices. All notices hereunder shall be in writing and shall be given to the
respective parties by U.S. mail (prepaid registered or certified mail, with return receipt
requested), personal delivery, or facsimile transmission to their respective addresses as follows:

	 	 	 	 	 
	 

	 	If to the Company:
	 	Westwood One, Inc.
	 

	 	 	 	40 West 57th Street, 15th Floor
	 

	 	 	 	New York, New York 10019
	 

	 	 	 	Attention: General Counsel
	 

	 	 	 	Telecopy: (212) 641-2198
	 
	 	 	 	 
	 

	 	with a copy to:
	 	Skadden, Arps, Slate, Meagher & Flom
	 

	 	 	 	300 South Grand Avenue
	 

	 	 	 	Los Angeles, California 90071
	 

	 	 	 	Attention: Brian J. McCarthy, Esq.
	 

	 	 	 	Facsimile: (213) 687-5600
	 
	 	 	 	 
	 

	 	If to CBS:
	 	CBS Radio Inc.
	 

	 	 	 	1515 Broadway, 46th Floor
	 

	 	 	 	New York, New York 10036
	 

	 	 	 	Attention: Chairman & CEO
	 

	 	 	 	Telecopy: (212) 846-2342
	 
	 	 	 	 
	 

	 	with copies to:
	 	CBS Corporation
	 

	 	 	 	51 West 52 Street
	 

	 	 	 	New York, New York 10019
	 

	 	 	 	Attention: General Counsel
	 

	 	 	 	Facsimile: (212) 975-4215
	 
	 	 	 	 
	 

	 	 	 	Weil, Gotshal & Manges LLP
	 

	 	 	 	767 Fifth Avenue
	 

	 	 	 	New York, New York 10153
	 

	 	 	 	Attention: Howard Chatzinoff, Esq.
	 

	 	 	 	Michael Lubowitz, Esq.
	 

	 	 	 	Facsimile: (212) 310-8007

All such notices shall be deemed effective upon receipt.

2.7 Successors and Assigns. Subject to Section 1.10 hereof, this Agreement shall be
binding upon the parties hereto and their respective successors and permitted assigns. The Company
may not assign its rights under this Agreement without the prior written consent of CBS.

 

11

 

2.8 Remedies, Waivers. No failure or delay on the part of any party in the exercise
of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single
or partial exercise of any such power, right or privilege preclude other or further exercise
thereof or of any other right, power or privilege. Any waiver or consent shall be effective only
in the specific instance and for the specific purpose for which it was given. The parties to this
Agreement acknowledge and agree that the breach of any of the terms of this Agreement will cause
irreparable injury for which an adequate remedy at law is not available. Accordingly, it is agreed
that either party shall be entitled to an injunction, restraining order or other equitable relief
to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof
in any court of competent jurisdiction in the United States or any state thereof, without the
requirement of posting any bond. All rights and remedies existing under this Agreement are
cumulative to and not exclusive of, any rights or remedies available under this Agreement or
otherwise.

2.9 Severability. In the event that any provision of this Agreement or the
application of any provision hereof is declared to be illegal, invalid or otherwise unenforceable
by a court of competent jurisdiction, such provision shall be reformed, if possible, to the extent
necessary to render it legal, valid and enforceable, or otherwise deleted, and the remainder of
this Agreement shall not be affected except to the extent necessary to reform or delete such
illegal, invalid or unenforceable provision.

2.10 Termination. The provisions of this Agreement shall terminate and be of no
further effect upon the earlier to occur of (a) the mutual consent of the Company and CBS and (b)
CBS or its permitted transferees ceasing to own or have rights to acquire Registrable Securities.

2.11 Further Assurances. Each party shall cooperate and take such action as may be
reasonably requested by the other party in order to carry out the provisions and purposes of this
Agreement and the transactions contemplated hereby.

2.12 Counterparts. This Agreement may be executed in two counterparts, each of which
shall be deemed an original, but which together shall constitute one and the same instrument.

[The remainder of this page is intentionally left blank.]

 

12

 

IN WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be duly
executed by their respective officers, duly authorized for such purpose, as of the date first
written above.

	 	 	 	 	 
	 	WESTWOOD ONE, INC.

 	 
	 	By:  	/s/
David Hillman	 
	 	 	Name:  	David Hillman	 
	 	 	Title:  	CAO & GC	 
	 
	 	CBS RADIO INC.

 	 
	 	By:  	/s/
Louis J. Briskman	 
	 	 	Name:  	Louis J. Briskman	 
	 	 	Title:  	EVP & Assistant Secretary
	 
	 

Signature Page to Registration Rights Agreement

 

 

 

Schedule 1.4(b)

Other Registration Rights Agreements

None.

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