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                                                                    Exhibit 10.2

                                      NOTE

$1,625,000                                                     December 22, 1999

                  FOR VALUE RECEIVED, C. THOMAS FAULDERS, III, an individual
residing at 6721 Benjamin Street, McLean, Virginia 22101 (the "MAKER"), promises
to pay to the order of LCC INTERNATIONAL, INC., a Delaware corporation, or
assigns, (the "HOLDER") on the earlier of (i) December 22, 2004 and (ii) the
date on which the Maker is no longer employed as the Chairman and Chief
Executive Officer of the Holder, at 7925 Jones Branch Drive, McLean, Virginia
22102, or at such other place as the Holder of this Note may from time to time
designate, the principal amount of One Million Six Hundred Twenty-Five Thousand
Dollars ($1,625,000), subject to adjustment as provided in Section 1.4 of the
Loan Agreement (as defined below). This Note shall bear interest on the unpaid
principal amount hereof from the date hereof, until paid in full, said interest
to be due and payable quarterly on April 1, July 1, October 1 and January 1
commencing on April 1, 2000, at a rate per annum (computed on the basis of a 360
day year and of the actual number of days elapsed) equal to 6.06%, compounded
quarterly, (the "BASE RATE"), provided that, should an Event of Default exist
and be continuing for ten (10) Business Days, interest shall instead accrue on
the outstanding principal balance of this Note from the date of such Event of
Default at the rate of the Base Rate plus three percent (3%) per annum,
compounded quarterly, until such Event of Default is cured or waived or all
principal or interest under this Note is paid in full. All payments hereunder
shall be made in lawful money of the United States of America without offset for
any amounts owed by the Holder to the Maker.

                  The unpaid principal amount of this Note may be prepaid in
whole or in part at any time or times without premium or penalty. Each
prepayment shall be applied first to the payment of all interest and other
amounts accrued hereunder on the date of any such prepayment, and the balance of
any such prepayment shall be applied to outstanding principal.

                  This Note is the Note referred to in that certain Loan
Agreement, dated as of the date hereof, between the Maker and the Holder (the
"LOAN AGREEMENT") and evidences the Loan advanced by the Holder to or for the
benefit of the Maker as Borrower under the Loan Agreement.  Capitalized terms
not defined herein shall have the meanings given to them in the Loan
Agreement. Neither the reference to the Loan Agreement nor any provision

thereof shall affect or impair the absolute and unconditional obligation of the
Maker to pay the principal amount outstanding hereunder, together with interest
accrued thereon, when due.

                  The Loan Agreement provides for the acceleration of all
amounts due hereunder upon the occurrence of an Event of Default and for a
discharge of all amounts due hereunder upon the occurrence of certain events
specified therein.

                  The Holder may, upon the occurrence of any Event of Default
hereunder, have resort to any collateral, whether real or personal property,
given as security for this Note in any order, and may sell and dispose of such
collateral in whole or in part, at any time or from time to time, with no
requirement on the part of the Holder of this Note to marshal assets. The Holder
shall not be required to preserve any rights in such collateral as against prior
parties. In the event that the Holder is required to give notice of any intended
disposition of collateral held as security for this Note, five (5) days' notice
given by mail or telegraph to the last known address of Maker shall be deemed to
be reasonable notice.

                  The Maker promises to pay all costs and expenses (including
without limitation attorneys' fees and disbursements) incurred in connection
with the collection hereof or the enforcement by the Holder of its rights
hereunder or under the Loan Agreement or under any other instrument evidencing
or securing the obligation represented by this Note or in the protection or
realization of any collateral now or hereafter given as security for the
repayment or performance hereof.

                  Each Obligor (which term shall include the Maker and all
sureties, guarantors, endorsers, and other persons assuming obligations pursuant
to this Note) under this Note hereby waives presentment, protest, demand, notice
of dishonor, and all other notices, and all defenses and pleas on the grounds of
any extension or extensions of the time of payments or the due dates of this
Note, in whole or in part, before or after maturity, with or without notice. No
renewal or extension of this Note, no release or surrender of any collateral
given as security for this Note, no release of any Obligor, and no delay in
enforcement of this Note or in exercising any right or power hereunder, shall
affect the liability of any Obligor. The pleading of any statute of limitations
as a defense to any demand against any Obligor is expressly waived.

                                     (1)
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                  No single or partial exercise by the Holder of any right
hereunder, under the Loan Agreement, or under any other agreement given as
security for this Note or pertaining hereto, shall preclude any other or further
exercise thereof or the exercise of any other rights. No delay or omission on
the part of the Holder in exercising any right hereunder shall operate as a
waiver of such right or of any other right under this Note.

                  The Maker hereby declares, represents, and warrants that the
indebtedness evidenced hereby is made for "BUSINESS PURPOSES" within the meaning
of Va. Code Ann. Section 6.1-330.44 (1950), and waives any defense to the
enforceability of this Note based on the inapplicability of Va. Code Ann.
Section 6.1-330.44 (1950) hereto.

                  Whenever used herein, the words "MAKER" and "HOLDER" and
"OBLIGOR" shall be deemed to include their respective successors and assigns.

                  This Note shall be governed by and construed under and in
accordance with the laws of the Commonwealth of Virginia (but not including the
choice of law rules thereof).

                  IN WITNESS WHEREOF, the undersigned has duly executed this
Note, as of the day and year first hereinabove set forth.

                                          /s/ C.THOMAS FAULDERS, III
                                          --------------------------
                                          C. Thomas Faulders, III

                                     (2)<PAGE>   1

                                                                  EXHIBIT 10.4.2

                                    AMFM INC.

                               FIRST AMENDMENT TO
                            CHANCELLOR HOLDINGS CORP.
                         1994 DIRECTOR STOCK OPTION PLAN

         THIS FIRST AMENDMENT TO THE CHANCELLOR HOLDINGS CORP. 1994 DIRECTOR
STOCK OPTION PLAN (this "Amendment") is made and adopted by AMFM Inc., a
Delaware corporation (the "Company"), effective as of March 31, 2000.

                                    RECITALS

         WHEREAS, the Company is the successor in interest to the obligations of
Chancellor Holdings Corp. under the Chancellor Holdings Corp. 1994 Director
Stock Option Plan (the "Plan");

         WHEREAS, in contemplation of the consummation of the merger (the "Clear
Channel Merger") of CCU Merger Sub, Inc., a wholly-owned subsidiary of Clear
Channel Communications, Inc., a Texas corporation, with and into the Company,
the Board of Directors of the Company approved this Amendment to amend the terms
and provisions of the Plan; and

         WHEREAS, any capitalized term used herein, and not otherwise defined
herein, shall have the meaning set forth in the Plan.

                                    AMENDMENT

         NOW, THEREFORE, the Plan is amended as follows:

         1. Section 9 of the Plan is amended and restated in its entirety to
read as follows:

                  9. Assignment or Transfer

                                    a.       The Board of Directors or the
                                             Committee may, in its sole
                                             discretion, permit a Director
                                             Participant to transfer all or any
                                             portion of an Option, or authorize
                                             all or a portion of any Option to
                                             be granted to a Director
                                             Participant to be on terms which
                                             permit transfer by such Director
                                             Participant to any individual,
                                             firm, company, corporation,
                                             partnership, trust or other entity
                                             (a "Permitted Transferee"),
                                             including pursuant to domestic
                                             relations orders entered or
                                             approved by a court of competent
                                             jurisdiction upon delivery to the
                                             Company of written notice of such
                                             transfer and a certified copy of
                                             such order; provided that
                                             subsequent transfers of Options
                                             transferred as provided above

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                                             shall be prohibited except
                                             subsequent transfers back to the
                                             original Director Participant.

                           b.       Except as expressly permitted by Section
                                    9(a), Options requiring exercise shall not
                                    be transferable other than by will or the
                                    laws of descent and distribution. In the
                                    event that a legal representative has been
                                    appointed in connection with the disability
                                    of an Director Participant, the Director
                                    Participant's Options may be exercised by
                                    the legal representative.

                           c.       Following the transfer of any Option as
                                    contemplated by Sections 9(a) and 9(b), (A)
                                    such Option shall continue to be subject to
                                    the same terms and conditions as were
                                    applicable immediately prior to transfer,
                                    provided that the term "Director
                                    Participant" shall be deemed to refer to the
                                    Permitted Transferee or the estate or heirs
                                    of a deceased Director Participant, as
                                    applicable, to the extent appropriate to
                                    enable the Director Participant to exercise
                                    the transferred Option in accordance with
                                    the terms of this Plan and applicable law,
                                    (B) the provisions of Sections 6(d), 6(e)
                                    and 6(f) hereof shall continue to be applied
                                    with respect to the original Director
                                    Participant and, following the occurrence of
                                    any such events described therein the
                                    Options shall be exercisable by the
                                    Permitted Transferee, the recipient under a
                                    domestic relations order, or the estate or
                                    heirs of a deceased Director Participant, as
                                    applicable, only to the extent and for the
                                    periods specified in Sections 6(d), 6(e) and
                                    6(f), and (C) in the discretion of the Board
                                    of Directors or the Committee, all voting
                                    control in the Common Stock transferred
                                    pursuant to the exercise of Options shall be
                                    retained in the original Director
                                    Participant.

                           d.       Any Director Participant desiring to
                                    transfer an Option as permitted under this
                                    Section 9 shall make application therefor in
                                    the manner and time specified by the Board
                                    of Directors or the Committee and shall
                                    comply with such other requirements as the
                                    Board of Directors or the Committee may
                                    require to assure compliance with all
                                    applicable tax and securities laws. The
                                    Board of Directors of the Committee shall
                                    not give permission for such a transfer if
                                    (i) it would give rise to short-swing
                                    liability under Section 16(b) of the
                                    Exchange Act, or (ii) it may not be made in
                                    compliance with all applicable federal,
                                    state and foreign securities laws.

         2. Except as expressly set forth herein, the Plan shall remain in full
force and effect without further amendment or modification.

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         IN WITNESS WHEREOF, the Company, acting by and through its officer
hereunto duly authorized, has executed this Amendment effective as of the date
first written above.

                                       AMFM INC.

                                       By: /s/ W. Schuyler Hansen
                                          --------------------------------------
                                       Name: W. Schuyler Hansen
                                       Title: Senior Vice President and
                                              Chief Accounting Officer

                                       -3-

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