Document:

employmentagreementch.htm

     

    EMPLOYMENT
      AGREEMENT

     

    BETWEEN

     

    RADIO
      ONE, INC.

     

    AND

     

    CATHERINE
      L. HUGHES

     

    Dated
      as of April 16, 2008

     

    
      

       

      

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EMPLOYMENT
      AGREEMENT

     

    THIS
      EMPLOYMENT AGREEMENT (this “Agreement”), dated as of
      April 16, 2008, is made by and between Radio One, Inc., a Delaware corporation
      (the “Company”), and
      Catherine L. Hughes (the “Executive”).

     

    In
      consideration of the premises and mutual covenants herein contained, the Company
      and the Executive hereby agree as follows:

     

    1. Definitions.

     

    “Affiliate”
shall
      mean any
      Person directly or indirectly controlling, controlled by, or under common
      control with, the Company.

     

    “Annual
      Base Salary” shall
      mean the annual base salary as described in Section 5.1 hereof.

     

    “Annual
      Incentive” shall have
      the meaning set forth in Section 5.2 hereof.

     

    “Board”
shall
      mean the board
      of directors of the Company.

     

    “Cause”
shall
      mean (i) the
      commission by the Executive of a felony, fraud, embezzlement or an act of
      serious, criminal moral turpitude which, in case of any of the foregoing, in
      the
      good faith judgment of the Board, is likely to cause material harm to the
      business of the Company and the Company Affiliates, taken as a whole, provided, that in the absence
      of a conviction or plea of nolo contendere, the Company
      will have the burden of proving the commission of such act by clear and
      convincing evidence, (ii) the commission of an act by the Executive constituting
      material financial dishonesty against the Company or any Company Affiliate,
      provided, that in the
      absence of a conviction or plea of nolo contendere, the Company
      will have the burden of proving the commission of such act by a preponderance
      of
      the evidence, (iii) the repeated refusal by the Executive to use her reasonable
      and diligent efforts to follow the lawful and reasonable directives (in light
      of
      the terms of this Agreement) of the Board with respect to a matter or matters
      within the control of the Executive, or (iv) the Executive’s willful gross
      neglect in carrying out her material duties and responsibilities under this
      Agreement, provided,
      that unless the Board reasonably determines that a breach described in clause
      (iii) or (iv) is not curable, the Executive will, subject to the following
      proviso, be given written notice of such breach and will be given an opportunity
      to cure such breach to the reasonable satisfaction of the Board within thirty
      (30) days of receipt of such written notice, and, provided further, that the
      Executive only will be entitled to cure two such defaults during the Term of
      Employment.

     

    “Change
      of Control” shall be
      deemed to have occurred in the event of a transaction or series of related
      transactions pursuant to which any Person or group (as such term is defined
      in
      Section 13(d)(3) of the Securities Exchange Act of 1934, as amended) of Persons
      (a) acquires, whether by merger, consolidation or transfer or issuance of
      capital stock, capital stock of the Company (or any surviving or resulting
      company), which together with stock held by such Person or group, constitutes
      more than 50% of the voting power of the stock of the Company (or any surviving
      or resulting company) or (b) acquires (or has acquired during the twelve (12)
      month period ending on the date of the most recent acquisition by such Person
      or
      Persons) assets from the Company that have a total gross fair market value
      equal
      to or more than 50% of the total gross fair market value of all of the assets
      of
      the Company immediately before such acquisition or acquisitions.  For
      purposes herein, gross fair market value means the value of the assets of the
      Company, or the value of the assets being disposed of, determined without regard
      to any liabilities associated with such assets.  For purposes of
      Section 6, a Change of Control shall not occur unless such transaction
      constitutes a “change in ownership of a corporation”, a “change in effective
      control of a corporation”, or a “change in ownership of a substantial portion of
      a corporation’s assets” under Section 409A of the Code and the regulations
      promulgated thereunder.  Notwithstanding the foregoing, a Change of
      Control shall not be deemed to have occurred if following a transaction, the
      Executive and/or Alfred C. Liggins, III retain more than fifty percent (50%)
      of
      the voting power of the stock of the Company (or any surviving or resulting
      company).

     

    “Class
      D Common Stock” shall
      mean the Company’s class D common stock, par value $.001 per share.

     

    “COBRA”
shall
      mean the
      requirements of Part 6 of Subtitle B of Title I of ERISA and Code §4980B and of
      similar state law.

     

    “Code”
shall
      mean the Internal
      Revenue Code of 1986, as amended.

     

    “Commencement
      Date” shall have
      the meaning set forth in Section 3 hereof.

     

    “Common
      Stock” shall mean all
      classes of the Company’s common stock and any capital stock of the Company
      distributed after the date of this Agreement with respect to shares of the
      Company’s common stock by way of dividend, distribution, stock split, exchange,
      conversion, merger, consolidation, reorganization or other
      recapitalization.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Company
      Affiliate” shall mean
      any Subsidiary of the Company.

     

    “Compensation
      Committee” shall mean
      the
      compensation committee of the Board.

     

    “Competing
      Business” shall
      have the meaning set forth in Section 10.1 hereof.

     

    “Competing
      Market” shall have
      the meaning set forth in Section 10.1 hereof.

     

    “Confidential
      Information”
shall have the meaning set forth in Section 8 hereof.

     

    “Date
      of Termination” shall
      mean the date on which the Executive’s employment with the Company actually
      terminates.

     

    “Disability”
shall
      mean the
      Executive’s inability to render the services required under this Agreement by
      reason of a physical or mental disability for ninety (90) days, which need
      not
      be consecutive, during any twelve (12) consecutive month period, and the
      effective date of such Disability shall be the day next following such ninetieth
      (90th)
      day.  A determination of Disability will be made by a physician
      satisfactory to both the Executive and the Company; provided that if the
      Executive and the Company cannot agree as to a physician, then each will select
      a physician and such physicians shall together select a third physician, whose
      determination as to Disability shall be completed within ten (10) days of the
      date on which the disagreement between the Executive and the Company arose
      and
      the decision of such third physician will be final and binding on the Executive
      and the Company.  The Executive and the Company shall have the right
      to present to such physician such information and arguments as each deems
      appropriate, including the opinion of other physicians.

     

    “ERISA”
shall
      mean the
      Employee Retirement Income Security Act of 1974, as amended.

     

    “Fair
      Market Value” shall mean
      the closing price of a share of Common Stock on the applicable
      date.

     

    “Good
      Reason” shall be deemed
      to exist if, without the express written consent of the Executive, (a) the
      Executive’s rate of Annual Base Salary (as provided in Section 5.1 of this
      Agreement), including any increases, is reduced, (b) the Executive suffers
      a
      substantial reduction in her title, duties or responsibilities, (c) the Company
      fails to pay the Executive’s Annual Base Salary when due or to pay any other
      material amount due to the Executive hereunder within five (5) days of written
      notice from the Executive, (d) the Company materially breaches this Agreement
      (other than a breach described in the preceding clause (c)) and fails to correct
      such breach within thirty (30) days after receiving the Executive’s demand that
      it remedy the breach, or (e) the Company fails to obtain a satisfactory written
      agreement from any successor to assume and agree to perform this Agreement,
      which successor the Executive reasonably concludes is capable of performing
      the
      Company’s financial obligations under this Agreement.

     

    “Initial
Restricted
      Stock” shall have
      the meaning set forth in Section 5.11(a) hereof.

     

    “Limited
      Amount” shall have
      the meaning set forth in Section 6.6(a) hereof.

     

    “Noncompete
      Period” shall have
      the meaning set forth in Section 10.1 hereof.

     

    “Notice
      of Termination” shall
      have the meaning set forth in Section 6.5 hereof.

     

    “Options”
shall
      have the
      meaning set forth in Section 5.10 hereof.

     

    “Option
      Shares” shall have the
      meaning set forth in Section 5.10 hereof.

     

    “Person”
shall
      mean any
      natural or legal person including any individual, partnership, joint venture,
      corporation, association, joint stock company, limited liability company, trust,
      unincorporated organization or government or any department or agency or
      political subdivision thereof.

     

    “Section
      6.1 Severance Period”
shall have the meaning set forth in Section 6.1(a)(i) hereof.

     

    “Section
      6.2 Severance Period”
shall have the meaning set forth in Section 6.2(a)(v) hereof.

     

    “Subsidiary”
shall
      mean, with
      respect to any Person, a corporation of which the securities having a majority
      of the voting power in electing directors are, at the time of determination,
      owned by such Person, directly or through one or more Subsidiaries.

     

    “Term
      of Employment” shall
      have the meaning set forth in Section 3 hereof.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Transfer”
shall
      mean a sale,
      transfer, assignment, pledge, hypothecation, mortgage or other disposition
      (whether with or without consideration and whether voluntarily or involuntarily
      or by operation of law) of any interest in any Option Shares or Common Stock;
      except that a transfer or assignment to any trust established and maintained
      for
      the benefit of the Executive shall not be deemed a Transfer hereunder; provided, that such trust
      agrees in writing to be bound by any transfer restrictions set forth
      herein.

     

    “Vehicle
      Allowance” shall have
      the meaning set forth in Section 5.7 hereof.

     

    “Withholding
      Amount” shall
      have the meaning set forth in Section 5.11(b) hereof.

     

    “Work
      Product” shall have the
      meaning set forth in Section 9 hereof.

     

    2. Employment.  During
      the Term of Employment, subject to the terms and provisions set forth in this
      Agreement, the Company shall employ the Executive as the Founder of the Company,
      and the Executive hereby accepts such employment.

     

    3. Term
      of Employment.  The
      initial term of employment under this Agreement shall commence as of the date
      hereof (the “Commencement
      Date”) and, unless earlier terminated by the Company or the Executive
      under Section 6 of this Agreement, shall continue until April 15, 2011 (the
      “Term of
      Employment”).  Thereafter, the Term of Employment will be
      extended automatically for additional one (1) year periods, unless either party
      provides written notice of its/his intention not to renew to the other party
      at
      least sixty (60) days before the expiration of the initial or any renewal term
      of this Agreement, as applicable.

     

    4. Positions,
      Responsibilities and Duties.

     

    4.1 Duties.  During
      the Term of Employment, the Executive, as the Founder of the Company, shall
      be
      responsible, subject to the direction of the Board, for strategic leadership,
      guidance, and promotion of the Company and for such other duties and functions
      of a senior executive nature, commensurate with her founding status, title,
      responsibility and remuneration as may be directed from time to time by the
      Board. The Executive
      shall report solely to the Board.

     

    4.2 Attention
      to Duties and Responsibilities.  During
      the Term of Employment, the Executive shall devote substantially all of her
      business time to the business and affairs of the Company and shall use her
      best
      efforts, ability and fidelity to perform faithfully and efficiently her duties
      and responsibilities.

     

    5. Compensation
      and Other
      Awards.

     

    5.1 Annual
      Base Salary.  Commencing
      on the Commencement Date, as compensation for the services to be provided by
      the
      Executive under this Agreement, the Company shall pay the Executive an annual
      base salary of Seven-Hundred Fifty Thousand Dollars ($750,000.00) (the “Annual Base
      Salary”).  The Executive’s Annual Base Salary shall be reviewed
      by the Compensation Committee annually, and may be increased (but not decreased)
      as the Compensation Committee determines appropriate.  In making such
      determination, the Compensation Committee may take into account: the salaries
      of
      chief executive officers of companies that are similar in nature and scope
      to
      the businesses conducted by the Company at such time; the Company’s financial
      position and cash flow; and/or the impact of any such increase on the Company’s
      loan covenants.  Such Annual Base Salary shall be payable to the
      Executive in equal installments at least twice per month in accordance with
      the
      Company’s regular payroll practice.

     

    5.2 Annual
      Incentive Compensation.  With
      respect to each calendar year ending during the Term of Employment, the
      Executive shall have the opportunity to earn an annual incentive cash payment
      (the “Annual
      Incentive”) up to a maximum of Two-Hundred Fifty Thousand Dollars
      ($250,000).  The Annual Incentive shall be determined by the
      Compensation Committee in its sole discretion.  The Annual Incentive
      shall be due and payable by the Company on or before March 15 of the year
      immediately following the year for which such Annual Incentive is
      awarded.

     

    5.2 Retirement
      and Savings Plans.  During
      the Term of Employment and to the extent eligible, the Executive shall be
      entitled to participate in all pension, retirement, savings and other employee
      benefit plans and programs applicable to peer executives of the
      Company.

     

    5.4 Welfare
      Benefit Plans and Perquisites.  During
      the Term of Employment and to the extent eligible, the Executive, the
      Executive’s spouse, if any, and the Executive’s eligible dependents, if any,
      shall be entitled to participate in and be covered by all welfare benefit plans
      and programs, if any, and shall be entitled to receive such perquisites and
      fringe benefits, if any, generally applicable to executives of the
      Company.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.5 Expense
      Reimbursement.  During
      the Term of Employment, the Executive shall be entitled to receive prompt
      reimbursement for all reasonable expenses incurred by the Executive in
      performing her duties and responsibilities hereunder in accordance with the
      policies and procedures of the Company as in effect at the time the expense
      was
      incurred, as the same may be changed prospectively from time to
      time.  The amount of expenses eligible for reimbursement during any
      calendar year shall not affect the expenses eligible for reimbursement in any
      other calendar year, and the reimbursement of an eligible expense shall be
      made
      as soon as practicable after the Executive submits the request for such
      reimbursement, but not later than December 31 following the calendar year in
      which the expense was incurred.

     

    5.6 Vacation
      Benefits.  During
      the Term of Employment, the Executive shall be entitled to four (4) weeks paid
      vacation annually to be taken at such times which do not materially interfere
      with the operations of the Company.  Any vacation not used by the
      Executive during any calendar year during the Term of Employment shall
      accumulate to the extent permitted by and in accordance with the Company policy
      then in effect.

     

    5.7 Vehicle
      Allowance.  During
      the Term of Employment, (i) the Executive shall be entitled to use of an
      automobile leased by the Company and (ii) the Company shall pay the cost of
      any
      and all applicable insurance coverage therefor and any other operating expenses
      related to such automobile (the benefits provided in (i) and (ii) shall be
      collectively referred to as the “Vehicle
      Allowance”).  The Executive acknowledges that the Company will
      impute income to the Executive based on the portion of the Vehicle Allowance
      that does not constitute an ordinary and necessary business expense of the
      Company.  During the Term of Employment, the monthly cost to the
      Company of such Vehicle Allowance shall be at least equal to the monthly amount
      being paid by the Company for the Executive’s automobile lease and applicable
      insurance and operating expenses on the date of this Agreement.  Upon
      expiration of the Company’s lease, the Executive shall have the right to
      purchase such vehicle in accordance with the terms of the Company’s lease
      agreement for such vehicle.

     

    5.8 Wireless
      Communications Allowance.  During
      the Term of Employment, the Executive shall be entitled to use of a wireless
      telephone and/or other wireless communications devices with all equipment and
      service costs thereof to be borne by the Company.

     

    5.9 Financial
      Manager.  During
      the Term of Employment, the Company shall make available to the Executive the
      services of a financial manager.  The Executive acknowledges that the
      Company will impute income to the Executive based on the services provided
      by
      the financial manager.

     

    5.10 Stock
      Options.  Effective
      as of the next monthly grant date under the Company’s equity compensation
      policy  following the Commencement Date, the Company shall grant to
      the Executive options to purchase six hundred thousand (600,000) shares of
      Class
      D Common Stock (the “Options,” and the shares of
      Class D Common Stock obtainable upon exercise of such Options, the “Option
      Shares”).  Notwithstanding the foregoing, Executive agrees that
      the Options grant may be deferred until the month following the next monthly
      grant (or to successive months) if, in the Compensation Committee’s sole
      discretion, such a deferral is deemed necessary to comply with insider trading
      rules and regulations.  Except as set forth in this Section 5.10, all
      terms and conditions of such Options (and such Option Shares) shall be set
      forth
      in the Company’s equity compensation plan and such documentation as the Company
      may prescribe.

     

    (a) The
      price payable by the Executive for each Option Share shall be the Fair Market
      Value of each Option Share on the date of grant as set forth in the option
      agreement.

     

    (b) The
      Options to purchase Option Shares shall vest in accordance with the following
      schedule:

     

    
      	
              Vesting
                Date

            	 	
              Vested
                Percentage of Options to Purchase Option
                Shares

            	 
	
              April
                15, 2009

            	 	 	33
              1/3	%
	
              April
                15, 2010

            	 	 	66
              2/3	%
	
              April
                15, 2011

            	 	 	100	%

    

    

     

    (c) Notwithstanding
      any other provision contained herein, upon a Change of Control, all of the
      Executive’s Options shall become fully and immediately exercisable.

     

    (d) Upon
      termination of the Executive’s employment hereunder, any then unexercisable
      Option shall expire and be immediately forfeited.  The Executive’s
      right to exercise any exercisable Option following termination of her employment
      shall be governed in accordance with the terms of the Company’s equity
      compensation plan; provided,
      however, that if the Executive’s employment terminates for any reason
      other than her death or Disability, any exercisable Option shall not also expire
      and be forfeited until the ninetieth (90th)
      day
      following such termination.

     

    (e) All
      unexercised Options to acquire Option Shares shall expire on the tenth
      anniversary of their respective dates of grant.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.11 Restricted
      Stock Awards.

     

    (a) Effective
      as of the next monthly grant date under the Company’s equity compensation policy
      following the Commencement Date, the Company shall grant to the Executive one
      hundred fifty thousand (150,000) shares of Class D Common Stock (in the
      aggregate, the “Initial
      Restricted Stock”) subject to certain vesting and transfer restrictions
      set forth in this Section 5.11, the equity compensation plan and such
      documentation as the Company may prescribe.  Notwithstanding the
      foregoing, Executive agrees that the Initial Restricted Stock grant may be
      deferred until the month following the next monthly grant (or to successive
      months) if, in the Compensation Committee’s sole discretion, such a deferral is
      deemed necessary to comply with insider trading rules and
      regulations.  The Compensation Committee also may, in its sole
      discretion, award additional shares of Class D Common Stock, subject to vesting
      and transfer restrictions, to the Executive during each or any year occurring
      during the Term of Employment, based upon the attainment of certain Company
      performance goals during any such year.  Such performance goals shall
      be determined by the Compensation Committee in consultation with the Executive,
      and shall be communicated to the Executive in writing as soon as reasonably
      practicable following the Compensation Committee’s determination.  The
      Compensation Committee shall determine whether and to what extent the applicable
      performance goals have been achieved.  Any such additional grant of
      restricted stock shall be subject to such terms and conditions as may be set
      forth in the Company’s equity compensation plan and such documentation as the
      Company may prescribe.

     

    (b) The
      Executive shall be responsible for the payment of any withholding tax
      requirement arising from the vesting of the awards described in Section
      5.11(a).  The amount of withholding tax required with respect to the
      Initial Restricted Stock award (the “Withholding Amount”) shall be
      determined by the Chief Financial Officer, Controller or other appropriate
      officer of the Company, and the Executive shall furnish such information and
      make such representations as such officer requires to make such
      determination.  The Company shall notify the Executive of the
      Withholding Amount and the Executive shall pay such Withholding Amount to the
      Company, in cash, by certified cashier’s check, or by delivery of shares of
      Company Common Stock owned by the Executive having a Fair Market Value equal
      to
      the Withholding Amount (which may include shares otherwise issuable to the
      Executive upon vesting of the award).  The Company shall remit the
      Withholding Amount to the appropriate taxing authority or
      authorities.

     

    (c) The
      Initial Restricted Stock shall vest in accordance with the following vesting
      schedule:

     

    
      	
              Vesting
                Date

            	 	
              Vested
                Percentage of Shares of Initial Restricted
                Stock

            	 
	
              April
                15, 2009

            	 	 	33
              1/3	%
	
              April
                15, 2010

            	 	 	66
              2/3	%
	
              April
                15, 2011

            	 	 	100	%

    

    

     

    Subsequent
      awards described in Section 5.11(a) shall vest in accordance with the terms
      of
      the Company’s equity compensation plan and such documentation as the Company may
      prescribe.

     

    (d) The
      Executive shall be entitled to receive, whether in the form of cash or stock,
      dividends declared on any unvested Class D Common Stock granted pursuant to
      this
      Section 5.11 which shall be paid to the Executive on the date such dividends
      are
      paid to other holders of Class D Common Stock.

     

    (e) Notwithstanding
      any other provision contained herein, upon a Change of Control, all of the
      Executive’s unvested Initial Restricted Stock and all unvested shares of other
      awards granted under Section 5.11(a) shall immediately become fully
      vested.

     

    (f) During
      the Term of Employment, the Executive may not Transfer any unvested Initial
      Restricted Stock, or any unvested shares of other awards granted under Section
      5.11(a).  Any Transfer or attempted Transfer of any such unvested
      share in violation of this Section 5.11(f) shall be null and void, and the
      Company shall not record such Transfer on its books or treat any purported
      transferee of such unvested share as the owner of such security for any
      purpose.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6. Termination.  The
      Executive’s employment hereunder (and the Term of Employment) may be terminated
      under the following circumstances:

     

    6.1 Termination
      by the Company Without
      Cause or by Executive for Good Reason.

     

    (a) Subject
      to Section 6.2, in the event that the Company terminates the Executive’s
      employment without Cause (which shall include a termination at the end of the
      Term of Employment by reason of the Company’s non-renewal of the Agreement
      pursuant to Section 3), or if the Executive terminates her employment for Good
      Reason in accordance with Section 6.1(c) below, the Executive shall only be
      entitled to:

     

    (i) the
      continuation of the Annual Base Salary at the rate then in effect (as provided
      in Section 5.1 of this Agreement) on the Date of Termination for a period of
      twelve (12) months commencing on such Date of Termination (the “Section 6.1 Severance
      Period”);

     

    (ii) subject
      to the provisions of Section 5.2, a portion of the Annual Incentive for the
      year
      in which the Date of Termination occurs, determined by dividing the number
      of
      days in the calendar year through the Date of Termination by three hundred
      sixty-five (365) and multiplying such fraction by the Annual Incentive which
      the
      Compensation Committee in good faith determines Executive would have earned
      if
      she had remained employed by the Company for the entire calendar year, taking
      into account the Executive’s length of service and contribution towards the
      Company’s business during the year in which the Date of Termination
      occurs;

     

    (iii) any
      Annual Base Salary accrued to the Date of Termination, and any Annual Incentive
      relating to a prior year actually earned but not yet paid as of the Date of
      Termination;

     

    (iv) reimbursement
      for all expenses (under Section 5.5 of this Agreement) incurred as of the Date
      of Termination, but not yet paid as of the Date of Termination;

     

    (v) to
      the extent applicable, and as so permitted by applicable law, the continuation
      of the Executive’s welfare benefits (as described in Section 5.4 of this
      Agreement) at the level in effect on the Date of Termination during the Section
      6.1 Severance Period or beyond as the law requires, and any other compensation
      and benefits as may be provided in accordance with the terms and provisions
      of
      applicable plans and programs, if any, generally applicable to executives of
      the
      Company or specifically applicable to the Executive; provided,
      that, that the Company shall
      provide the Executive with group health continuation coverage for the Executive
      and her dependents during such Section 6.1 Severance Period on the same terms
      and conditions as applicable to active employees, and such period of coverage
      shall run concurrently with the COBRA continuation coverage period; provided further, that, in
      the event that the Executive becomes eligible for comparable group health
      coverage provided by a subsequent employer, the coverage provided pursuant
      to
      this Section 6.1(a)(v) shall cease;

     

    (vi) such
      rights as the Executive may have under any other written agreement between
      the
      Company and the Executive which is currently in effect or under any employee
      benefit plan or program of the Company (including rights to equity
      compensation).

     

    (b) Subject
      to Section 6.6, the amounts owed under Section 6.1(a)(i) shall be payable in
      equal bi-weekly installments from the Date of Termination through the expiration
      of the Section 6.1 Severance Period.  Each such installment shall be
      treated as a separate payment for purposes of Section 409A of the
      Code.  The amounts owed under Section 6.1(a)(ii) shall be payable, if
      at all, at the same time as the Annual Incentive normally would be paid under
      Section 5.2 for the calendar year in which the Date of Termination
      occurs.  The amounts owed under Section 6.1(a)(iii) shall be paid
      within fifteen (15) days of the Date of Termination.  The amounts owed
      under Section 6.1(a)(iv), unless otherwise expressly specified herein, shall
      be
      paid in accordance with the plan, programs, policies and procedures of the
      Company in effect at the time the applicable expenses are
      incurred.  The amounts owed under Section 6.1(a)(v) shall be payable
      in accordance with the terms of the applicable plans and
      programs.  The amounts owed under Section 6.1(a)(vi) shall be paid in
      accordance with the applicable agreements, plans, and programs.

     

    (c) Upon
      thirty (30) days’ prior written notice to the Board, the Executive may terminate
      her employment under this Agreement for Good Reason and such notification shall
      specify the act, or acts, on the basis of which the Executive has found Good
      Reason, provided, that
such
      notice must be
      provided by the Executive to the Board no later than ninety (90) days following
      the Executive’s knowledge of the initial existence of the circumstances that
      constitute Good Reason.  The Board shall then be provided the
      opportunity, within thirty (30) days of its receipt of such notification, to
      meet with the Executive to discuss such act or acts.  If the Executive
      does not rescind her termination of employment at such meeting, the Executive’s
      employment by the Company shall be terminated for Good Reason pursuant to this
      Section 6.1, and the Executive shall receive the benefits provided under Section
      6.1(a) hereof.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6.2 Termination
      in Connection with a
      Change of Control.

     

    (a) In
      the event (x) the Company terminates the Executive’s employment without Cause
      (which shall include a termination at the end of the Term of Employment by
      reason of the Company’s non-renewal of the Agreement pursuant to Section 3) or
      the Executive terminates her employment for Good Reason, and (y) such
      termination occurs within two years following a Change of Control, the Executive
      shall only be entitled to:

     

    (i) an
      amount equal to three times (3x) the sum of (x) the Annual Base Salary at the
      rate then in effect (as provided in Section 5.1 of this Agreement) on the Date
      of Termination (or, if greater, the date immediately preceding the Change in
      Control) and (y) the average of the last three Annual Incentive payments (or,
      if
      the Executive has received fewer than three Annual Incentive Payments, the
      average of all such Annual Incentive Payments);

     

    (ii) subject
      to the provisions of Section 5.2, a portion of the Annual Incentive for the
      year
      in which the Date of Termination occurs, determined by dividing the number
      of
      days in the calendar year through the Date of Termination by three hundred
      sixty-five (365) and multiplying such fraction by the Annual Incentive which
      the
      Compensation Committee in good faith determines Executive would have earned
      if
      she had remained employed by the Company for the entire calendar year, taking
      into account the Executive’s length of service and contribution towards the
      Company’s business during the year in which the Date of Termination
      occurs;

     

    (iii) any
      Annual Base Salary accrued to the Date of Termination and any Annual Incentive
      relating to a prior year actually earned but not yet paid as of the Date of
      Termination;

     

    (iv) reimbursement
      for all expenses (under Section 5.5 of this Agreement) incurred as of the Date
      of Termination, but not yet paid as of the Date of Termination;

     

    (v) to
      the extent applicable, and as so permitted by applicable law, the continuation
      of the Executive’s welfare benefits (as described in Section 5.4 of this
      Agreement) at the level in effect on the Date of Termination for a period of
      three (3) years commencing on the Date of Termination (the “Section 6.2 Severance
      Period”) or
      beyond as the law requires, and any other compensation and benefits as may
      be
      provided in accordance with the terms and provisions of applicable plans and
      programs, if any, generally applicable to executives of the Company or
      specifically applicable to the Executive, provided,
      that, the Company shall
      provide the Executive with group health continuation coverage for the Executive
      and her dependents during such Section 6.2 Severance Period on the same terms
      and conditions as applicable to active employees; and such period of coverage
      shall run concurrently with the COBRA continuation coverage period; provided further, that, in
      the event that the Executive becomes eligible for comparable group health
      coverage provided by a subsequent employer, the coverage provided pursuant
      to
      this Section 6.2(a)(v) shall cease; and

     

    (vi) such
      rights as the Executive may have under any other written agreement between
      the
      Company and the Executive which is then currently in effect or under any
      employee benefit plan or program of the Company (including rights to equity
      compensation).

     

    (vii) Notwithstanding
      any other provision contained herein, in the event (x) the Company terminates
      the Executive’s employment without Cause (including, without limitation, by
      reason of the Company’s non-renewal of the Agreement pursuant to Section 3) or
      the Executive terminates her employment for Good Reason, and (y) such
      termination occurs within six (6) months preceding a Change of Control, the
      Executive shall only be entitled to the payments and benefits set forth in
      Section 6.1(a); provided,
      however, that (a) upon the date of the Change of Control, any payments
      which have not yet been made to the Executive pursuant to Section 6.1(a)(i)
      shall be paid to the Executive in a lump sum within five (5) business days
      following the date of the Change of Control; (b) the Executive shall be entitled
      to an additional lump sum payment in the amount of the sum of (1) and (2),
      where
      (1) equals two times (2x) the Annual Base Salary at the rate in effect on the
      Date of Termination, and (2) equals three times (3x) the average of the last
      three Annual Incentive payments (or, if the Executive has received fewer than
      three Annual Incentive Payments, the average of all such Annual Incentive
      Payments), which shall be paid within ten (10) days following the date of the
      Change in Control; and (c) the Company shall provide the Executive with group
      health coverage for the Executive and her dependents during the Section 6.2
      Severance Period on the same terms and conditions as applicable to active
      employees and such period of coverage shall run concurrently with the COBRA
      continuation coverage period; provided, that, in the event
      that the Executive becomes eligible for group health coverage provided by a
      subsequent employer, the coverage provided pursuant to this Section 6.2(a)(vii)
      shall cease.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (b) Subject
      to Section 6.6, the amounts owed under Section 6.2(a)(i) shall be payable to
      the
      Executive in a single lump sum within five (5) business days following the
      Date
      of Termination.  The amounts owed under Section 6.2(a)(ii) shall be
      payable, if at all, at the same time as the Annual Incentive normally would
      be
      paid under Section 5.2 for the calendar year in which the Date of Termination
      occurs.  The amounts owed under Section 6.2(a)(iii) shall be paid
      within fifteen (15) days of the Date of Termination.  The amounts owed
      under Section 6.2(a)(iv), unless otherwise expressly specified herein, shall
      be
      paid in accordance with the plans, programs, policies and procedures of the
      Company in effect at the time the applicable expenses were
      incurred.  The amounts owed under Section 6.2(a)(v) shall be payable
      in accordance with the terms of the applicable plans and
      programs.  The amounts owed under Section 6.2(a)(vi) shall be paid in
      accordance with the applicable agreements, plans, and programs.

     

    6.3 Termination
      Due to Death or
      Disability, by the Company for Cause or by Executive without Good
      Reason.

     

    (a) In
      the event of the Executive’s death, or a termination of the Executive’s
      employment under this Agreement by either the Company or the Executive due
      to
      Disability, or the termination by the Company of the Executive’s employment
      under this Agreement for Cause in accordance with Section 6.3(c) below, or
      if
      the Executive terminates her employment with the Company without Good Reason
      in
      accordance with Section 6.3(d) below (which shall be deemed to include a
      termination at the end of the Term of Employment by reason of the Executive’s
      non-renewal of the Agreement pursuant to Section 3), the Term of Employment
      shall end and, notwithstanding Section 5 hereof, the Executive, her estate
      or
      other legal representative, as the case may be, shall only be entitled
      to:

     

    (i) any
      Annual Base Salary accrued to the Date of Termination,  and any Annual
      Incentive relating to a prior year actually earned but not yet paid as of the
      Date of Termination;

     

    (ii) subject
      to the provisions of Section 5.2, a portion of the Annual Incentive for the
      year
      in which the Date of Termination occurs, determined by dividing the number
      of
      days in the calendar year through the Date of Termination by three hundred
      sixty-five (365) and multiplying such fraction by the Annual Incentive which
      the
      Compensation Committee in good faith determines Executive would have earned
      if
      she had remained employed by the Company for the entire calendar year, taking
      into account the Executive’s length of service and contribution towards the
      Company’s business during the year in which the Date of Termination
      occurs;

     

    (iii) reimbursement
      for all expenses (under Section 5.5 of this Agreement) incurred as of the Date
      of Termination, but not yet paid as of the Date of Termination;

     

    (iv) any
      other compensation and benefits as may be provided in accordance with the terms
      and provisions of applicable plans and programs, if any, generally applicable
      to
      executives of the Company or specifically applicable to the Executive;
      and

     

    (v) such
      rights as the Executive may have under any other written agreement between
      the
      Company and the Executive which is currently in effect or employee benefit
      plan
      or program of the Company (including rights to equity
      compensation).

     

    (b) The
      amounts owed under Section 6.3(a)(i) shall be paid within fifteen (15) days
      of
      the Date of Termination.  The amounts owed under Section 6.3(a)(ii)
      shall be payable, if at all, at the same time as the Annual Incentive normally
      would be paid under Section 5.2 for the calendar year in which the Date of
      Termination occurs.  The amounts owed under Section 6.3(a)(iii),
      unless otherwise expressly specified herein, shall be paid in accordance with
      the policies and procedures of the Company in effect at the time the applicable
      expenses were incurred.  The amounts owed under Section 6.3(a)(iv)
      shall be payable in accordance with the terms of the applicable plans and
      programs.  The amounts owed under Section 6.3(a)(v) shall be paid in
      accordance with the applicable plan, program, or agreement.

     

    (c) The
      Company may terminate the Executive for Cause.  In each case, the
      existence of Cause must be confirmed by the Board prior to any termination
      therefor.  In the event of such a confirmation, the Company shall
      notify the Executive that the Company intends to terminate the Executive’s
      employment for Cause under this Section 6.3.  Such notification shall
      specify the act, or acts, on the basis of which the Board has so confirmed
      the
      existence of Cause.

     

    (d) Upon
      sixty (60) days’ prior written notice to the Board, the Executive may terminate
      her employment under this Agreement without Good Reason.

     

    6.4 No
      Mitigation; No Offset.  In
      the event of any termination of employment, the Executive shall be under no
      obligation to seek other employment and there shall be no offset against any
      amounts due the Executive under this Agreement on account of any remuneration
      attributable to any subsequent employment that the Executive may
      obtain.  Any amounts due under this Section 6 are in the nature of
      severance payments, or liquidated damages, or both, and are not in the nature
      of
      a penalty.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6.5 Notice
      of Termination.  Any
      termination of the Executive’s employment under this Section 6 shall be
      communicated by a notice of termination (the “Notice of Termination”) to
      the other party hereto given in accordance with Section 12.4 of this
      Agreement.  Such notice shall (a) indicate the specific termination
      provision in this Agreement relied upon, (b) set forth in reasonable detail
      the
      facts and circumstances claimed to provide a basis for termination of the
      Executive’s employment under the provision so indicated, and (c) if the
      termination date is other than the date of receipt of such notice, specify
      the
      date on which the Executive’s employment is to be terminated (which date shall
      not be earlier than the date on which such notice is actually
      received).

     

    6.6 Compliance
      With Section 409A.  Notwithstanding
      any provision of this Agreement to the contrary, if as of the Date of
      Termination, the Executive is or is deemed to be a specified employee within
      the
      meaning of Section 409A(a)(2)(B)(i) of the Code, the following rules shall
      apply:

     

    (a) To
      the extent that any amounts described in Section 6 in the aggregate do not
      exceed the limits set forth in Section 402(g)(1)(B) of the Code (the “Limited Amount”) in the
      calendar year in which the Date of Termination occurs, such amount shall be
      payable in accordance with Section 6.1(b) or 6.2(b), as applicable.

     

    (b) In
      the event that deferral of the commencement of any other payments or benefits
      otherwise payable pursuant to this Agreement is necessary in order to prevent
      any accelerated or additional tax under Section 409A of the Code, the Company
      shall defer commencement of the payment of any such payments or benefits
      hereunder (without any reduction in such payments or benefits ultimately paid
      or
      provided to the Executive), and any payments or benefits that would otherwise
      be
      paid to the Executive during the six-month period following her Date of
      Termination shall be accumulated and paid to the Executive in a single cash
      lump
      sum (without interest) within ten (10) days following the first business day
      of
      the seventh month following the Date of Termination.

     

    7. Insurance

     

    7.1 .  The
      Company will insure the Executive, for the duration of her employment, and
      thereafter in respect of her acts and omissions occurring during such
      employment, under a contract of directors’ and officers’ liability insurance to
      the same extent as any such insurance insures members of the Board.

     

    8. Confidential
      Information.  The
      Executive acknowledges that the confidential or proprietary information obtained
      by her while employed by the Company concerning the business or affairs of
      the
      Company or any Affiliate of the Company (“Confidential Information”) is
      the property of the Company or such Affiliate, as the case may
      be.  For purposes of this Agreement, the term “Confidential Information”
does not include
      information that the Executive can demonstrate (a) was in the
      Executive’s possession prior to first being employed by the Company, provided, that such
      information is not known by the Executive to be subject to another
      confidentiality agreement with, or other obligation of secrecy to, the Company
      or another party, (b) is generally available to the public and became generally
      available to the public other than as a result of a disclosure in violation
      of
      this Agreement, (c) became available to the Executive on a non-confidential
      basis from a third party, provided, that such third
      party is not known by the Executive to be bound by a confidentiality agreement
      with, or other obligation of secrecy to, the Company or another party or is
      otherwise prohibited from providing such information to the Executive by a
      contractual, legal or fiduciary obligation or (d) the Executive is required
      to
      disclose pursuant to applicable law or regulation (as to which information,
      the
      Executive will provide the Company with prior notice of such requirement and,
      if
      practicable, an opportunity to obtain an appropriate protective
      order).  The Executive agrees that she will not during the Term of
      Employment and for the two-year period following the Term of Employment,
      willfully disclose Confidential Information to any Person (other than employees
      of the Company or any Subsidiary thereof or any other Person expressly
      authorized by the Board to receive Confidential Information or otherwise as
      required in the course of her duties during the Term of Employment) or use
      for
      her own account any Confidential Information without the prior written consent
      of the Board.  The Executive shall deliver to the Company at the
      termination of the Term of Employment, or at any other time the Board may
      request in writing, all memoranda, notes, plans, records, reports, computer
      tapes and software and other documents and data (and copies thereof) containing
      Confidential Information or Work Product which she may then possess or have
      under her control.  The Company shall, upon the Executive’s request,
      provide to the Executive a copy of such documents as may be reasonably necessary
      for the Executive to defend herself in any third party shareholder disputes,
      and
      which shall otherwise remain subject to the provisions of this Section
      8.

     

    9. Work
      Product.  The
      Executive agrees that all inventions, innovations, improvements, developments,
      methods, designs, analyses, reports and all similar or related information
      which
      relate to the Company’s or its Subsidiaries’ actual business, research and
      development or existing products or services and which are conceived, developed
      or made by the Executive while employed with the Company (“Work Product”) belong to the
      Company or such Subsidiary.  Upon the written request of the Board,
      the Executive will promptly disclose such Work Product to the Board and perform
      all actions reasonably requested by the Board (whether during or after the
      Term
      of Employment) to establish and confirm such ownership.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    10. Noncompete,
      Non-Solicitation.

     

    10.1 Non-Compete. The
      Executive
      acknowledges that in the course of her employment with the Company she will
      become familiar with the trade secrets and other confidential information of
      the
      Company and the Subsidiaries of the Company and that her services will be of
      special, unique and extraordinary value to the Company.  Therefore,
      the Executive agrees that, during the Term of Employment and for an additional
      period (the “Noncompete
      Period”) equal to one (1) year thereafter, she shall not directly or
      indirectly own, manage, control, participate in, consult with, or render
      services for any “Competing Business” (as defined below) in any “Competing
      Market” (as defined below).  For purposes of this section, a “Competing Business”
is  any enterprise or
      individual engaged (or after Executive’s
      arrival, that becomes engaged) in the production, sale or distribution of
      content via cable television, the world wide web, radio or other media used
      by
      the Company to distribute content as of the Date of Termination that (i)
      principally targets African-American audiences or (ii) creates, maintains or
      operates entertainment or social services aimed at African-American consumers
      or
      users.  A division or subsidiary of a diversified business will be
      treated as a Competing Business only if (i) the diversified business falls
      within the preceding sentence and (ii) the Executive directly provides services
      to that division or subsidiary as her primary employment within the diversified
      business.  A “Competing Market” is a
      geographic market in which the Company or any Company Affiliate has, on or
      before the Date of Termination, (i) commenced material operations or (ii)
      determined before such date to commence such material operations and committed
      substantial resources to either determining the feasibility of such commencement
      or actually commencing such operations.  The Company agrees that any
      businesses arising out of or related to the Executive’s current ownership of and
      interest in Music One, Inc. are expressly excluded from the intended scope
      of
      this provision and thus not Competing Businesses.  Nothing herein
      shall prohibit the Executive from being a passive owner of not more than 4.9%
      of
      the outstanding stock of any class of a corporation which is publicly traded,
      so
      long as the Executive has no active participation in the business of such
      corporation.  Notwithstanding the foregoing, if Executive’s employment
      terminates without Cause or for Good Reason, the Noncompete Period shall be
      limited to the Term of Employment.

     

    10.2 Non-Solicit.
      During the
      Noncompete Period, the Executive shall not directly or indirectly through
      another Person (i) induce or attempt to induce any employee of the Company
      or
      any Subsidiary of the Company (other than Alfred C. Liggins, III) to leave
      the
      employ of such Person; (ii) hire any individual who was an executive of the
      Company or its Subsidiaries, a general, station or regional manager of the
      Company or its Subsidiaries, or a radio personality employed by the Company
      or
      its Subsidiaries at any time during the Term of Employment (other than Alfred
      C.
      Liggins, III and individuals who have not been employed by the Company or a
      Subsidiary of the Company for a period of at least one (1) year prior to
      employment by the Executive directly or indirectly through another Person);
      or
      (iii) induce or attempt to induce any customer, supplier, licensee or other
      Person having a business relationship with the Company or any Subsidiary of
      the
      Company to cease doing business with the Company or such Subsidiary of the
      Company, or interfere materially with the relationship between any such
      customer, supplier, licensee or other Person having a business relationship
      with
      the Company or any Subsidiary of the Company.

     

    10.3 Acknowledgements.

     

    (a) The
      Executive agrees and acknowledges that the type and scope of restrictions
      described in this Section 10 are fair and reasonable and that the restrictions
      are designed to protect the legitimate interests of the Company and not to
      prevent her from earning a living.  If, however, at the time of
      enforcement of this Section 10, a court shall hold that the duration, scope
      or
      area restrictions stated herein are unreasonable under circumstances then
      existing, the parties agree that the maximum duration, scope or area reasonable
      under such circumstances shall be substituted for the stated duration, scope
      or
      area and that the court shall be allowed to revise the restrictions contained
      herein to cover the maximum period, scope and area permitted by
      law.

     

    (b) The
      Executive acknowledges and agrees that the Executive’s breach of Section 8 or
      Section 10 of this Agreement will cause substantial and irreparable harm to
      the
      Company, and therefore, in the event of any such breach, in addition to such
      other remedies that may be available, the Company shall be entitled to equitable
      relief, including specific performance and injunctive relief.

     

    (c) In
      the event that the Executive’s employment terminates for whatever reason, the
      Executive hereby grants consent to notification by the Company to the
      Executive’s new employer concerning the Executive’s obligations under Sections 8
      and 10 of this Agreement.

     

    (d) In
      the event that legal action is deemed necessary by the Company to enforce the
      provisions of Section 8 or Section 10 of this Agreement, the time period for
      all
      covenants and restrictions contained in Sections 8 and 10 shall be tolled during
      such time as the litigation is pending.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    11. Successors.

     

    11.1 Executive.  This
      Agreement is personal to the Executive and, without the prior express written
      consent of the Company, shall not be assignable by the Executive, except that
      the Executive’s rights to receive any compensation or benefits under this
      Agreement may be transferred or assigned pursuant to testamentary disposition,
      intestate succession or pursuant to a qualified domestic relations
      order.  This Agreement shall inure to the benefit of and be
      enforceable by the Executive’s heirs, beneficiaries and/or legal
      representatives.

     

    11.2 The
      Company.  This
      Agreement shall inure to the benefit of and be binding upon the Company and
      its
      successors and assigns, provided, that the Company
      may only transfer or assign this Agreement with the Executive’s prior written
      consent (which consent shall be deemed given if the Executive consented to
      the
      underlying transaction).

     

    12. Miscellaneous.

     

    12.1 Applicable
      Law, Forum and Jurisdiction.  The
      corporate law of the State of Delaware will govern all questions concerning
      the
      relative rights of the Company and its stockholders, and all questions
      concerning the construction, validity and interpretation of this Agreement
      shall
      be governed by and construed in accordance with the internal laws of the State
      of Delaware.  The parties agree that all actions or proceedings
      arising in connection with this Agreement shall be conducted in the State of
      Delaware and each party agrees to submit to the jurisdiction of the state and
      federal courts of the State of Delaware for actions arising out of this
      Agreement.

     

    12.2 Legal
      Fees.  The
      Company shall pay the reasonable legal fees (based on actual time charges and
      disbursements of counsel) incurred by the Executive in negotiating and entering
      into this Agreement, up to a maximum of Twenty-Five Thousand Dollars
      ($25,000).

     

    12.3 Amendments/Waiver.  This
      Agreement may not be amended or modified other than by a written agreement
      executed by the parties hereto or their respective successors and legal
      representatives.  No waiver by any party to this Agreement of any
      breach of any term, provision or condition of this Agreement by the other party
      shall be deemed a waiver of a similar or dissimilar term, provision or condition
      at the same time, or any prior or subsequent time.

     

    12.4 Notices.  All
      notices, waivers and other communications hereunder shall be in writing and
      shall be given by hand-delivery to the other party, by facsimile (with
      appropriate confirmation of transmission), by reputable overnight courier,
      or by
      registered or certified mail, return receipt requested, postage prepaid, and
      shall be deemed delivered when actually delivered by hand, upon receipt of
      confirmation of facsimile transmission, three (3) days after mailing, or one
      day
      after dispatch by overnight courier, addressed as follows:

     

    If
      to the Executive:

     

    Ms.
      Catherine L. Hughes

    [at
      the last known address on file with the Company]

     

    If
      to the Company:

     

    Radio
      One, Inc.

    5900
      Princess Garden Parkway, 7th
      Floor

    Lanham,
      MD 20706

    Attention:        General
      Counsel

    Facsimile:        301-306-9638

     

    or
      to such other address as either party shall have furnished to the other in
      writing in accordance herewith.

     

    12.5 Withholding.  Notwithstanding
      anything else to the contrary herein, the Company may withhold from any amounts
      payable under this Agreement such taxes as shall be required to be withheld
      pursuant to any applicable law or regulation.  Where amounts are
      payable to the Executive pursuant to this Agreement both in cash and in a form
      other than cash, the Company may, at its option and upon prior notice to the
      Executive, withhold from such cash payments, or withhold from such payments
      in a
      form other than cash, or withhold from both.

     

    12.6 Severability.  If
      any provision of this Agreement is held to be illegal, invalid or unenforceable
      under any present or future law, and if the rights or obligations of any party
      hereto under this Agreement will not be materially and adversely affected
      thereby: (a) such provision will be fully severable; (b) this Agreement will
      be
      construed and enforced as if such illegal, invalid or unenforceable provision
      had never comprised a part hereof; (c) the remaining provisions of this
      Agreement will remain in full force and effect and will not be affected by
      the
      illegal, invalid or unenforceable provision or by its severance herefrom; and
      (d) in lieu of such illegal, invalid or unenforceable provision, there will
      be
      added automatically as a part of this Agreement a legal, valid and enforceable
      provision as similar in terms to such illegal, invalid or unenforceable
      provision as shall be agreed upon by the Company and the Executive.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    12.7 Captions;
      Section References.  The
      captions of this Agreement are not part of the provisions hereof and shall
      have
      no force or effect.  All references to sections of statutes,
      regulations or rules shall be deemed to be references to any successor
      sections.

     

    12.8 No
      Company Setoff.  The
      Company’s
      obligation to pay the Executive the amounts provided and to make the
      arrangements provided hereunder shall not be subject to setoff, counterclaim,
      or
      recoupment of amounts owed by the Executive to the Company or its
      Affiliates.

     

    12.9 Entire
      Agreement.  This
      Agreement contains the entire agreement between the parties concerning the
      subject matter hereof and supersedes all prior agreements, understandings,
      discussions, negotiations and undertakings, whether written or oral, between
      the
      parties with respect thereto.

     

    12.10 Counterparts.  This
      Agreement may be executed in separate counterparts, each of which is deemed
      to
      be an original and all of which taken together constitute one and the same
      agreement.

     

    12.11 Representation.  The
      Executive represents and warrants that the performance of the Executive’s duties
      and obligations under this Agreement will not violate any agreement between
      the
      Executive and any other Person.

     

    12.12 Further
      Assurances.  The
      parties shall, with reasonable diligence, do all things and provide all
      reasonable assurances as may be required to complete the transactions
      contemplated by this Agreement, and each party shall provide such further
      documents or instructions required by any other party as may be reasonably
      necessary or desirable to give effect to this Agreement and carry out its
      provisions.

     

    12.13 Survivorship.  The
      respective rights and obligations of the parties under this Agreement shall
      survive any termination of this Agreement or the Executive’s employment
      hereunder for any reason to the extent necessary for the intended preservation
      of such rights and obligations.

     

    [END
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    [SIGNATURE
      PAGE FOLLOWS]

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Executive has hereunto set her hand, and the Company has
      caused this Employment Agreement to be executed in its name and on its behalf
      by
      its authorized representative, all as of the day and year first above
      written.

     

    RADIO
      ONE, INC.,

    a
      Delaware corporation

    

    

    

    By:   /s/ 
Peter
      D.
      Thompson         

     

    Name:
      Peter D. Thompson

    Title:
      Chief Financial
      Officer                      

    

    

    EXECUTIVE:

    

     

                                      
/s/ 
Catherine
      L. Hughes 
                                

    Catherine
      L.
      Hughesemploymentagreementacl.htm

    

    
      

    

    EMPLOYMENT
      AGREEMENT

     

    BETWEEN

     

    RADIO
      ONE, INC.

     

    AND

     

    ALFRED
      C. LIGGINS, III

     

    Dated
      as of April 16, 2008

     

    
      

       

      

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EMPLOYMENT
      AGREEMENT

     

    THIS
      EMPLOYMENT AGREEMENT (this “Agreement”), dated as of
      April 16, 2008, is made by and between Radio One, Inc., a Delaware corporation
      (the “Company”), and
      Alfred C. Liggins, III (the “Executive”).

     

    In
      consideration of the premises and mutual covenants herein contained, the Company
      and the Executive hereby agree as follows:

     

    1. Definitions.

     

    “Affiliate”
shall
      mean any
      Person directly or indirectly controlling, controlled by, or under common
      control with, the Company.

     

    “Annual
      Base Salary” shall
      mean the annual base salary as described in Section 5.1 hereof.

     

    “Annual
      Incentive” shall have
      the meaning set forth in Section 5.2 hereof.

     

    “Board”
shall
      mean the board
      of directors of the Company.

     

    “Cause”
shall
      mean (i) the
      commission by the Executive of a felony, fraud, embezzlement or an act of
      serious, criminal moral turpitude which, in case of any of the foregoing, in
      the
      good faith judgment of the Board, is likely to cause material harm to the
      business of the Company and the Company Affiliates, taken as a whole, provided, that in the absence
      of a conviction or plea of nolo contendere, the Company
      will have the burden of proving the commission of such act by clear and
      convincing evidence, (ii) the commission of an act by the Executive constituting
      material financial dishonesty against the Company or any Company Affiliate,
      provided, that in the
      absence of a conviction or plea of nolo contendere, the Company
      will have the burden of proving the commission of such act by a preponderance
      of
      the evidence, (iii) the repeated refusal by the Executive to use his reasonable
      and diligent efforts to follow the lawful and reasonable directives (in light
      of
      the terms of this Agreement) of the Board with respect to a matter or matters
      within the control of the Executive, or (iv) the Executive’s willful gross
      neglect in carrying out his material duties and responsibilities under this
      Agreement, provided,
      that unless the Board reasonably determines that a breach described in clause
      (iii) or (iv) is not curable, the Executive will, subject to the following
      proviso, be given written notice of such breach and will be given an opportunity
      to cure such breach to the reasonable satisfaction of the Board within thirty
      (30) days of receipt of such written notice, and, provided further, that the
      Executive only will be entitled to cure two such defaults during the Term of
      Employment.

     

    “Change
      of Control” shall be
      deemed to have occurred in the event of a transaction or series of related
      transactions pursuant to which any Person or group (as such term is defined
      in
      Section 13(d)(3) of the Securities Exchange Act of 1934, as amended) of Persons
      (a) acquires, whether by merger, consolidation or transfer or issuance of
      capital stock, capital stock of the Company (or any surviving or resulting
      company), which together with stock held by such Person or group, constitutes
      more than 50% of the voting power of the stock of the Company (or any surviving
      or resulting company) or (b) acquires (or has acquired during the twelve (12)
      month period ending on the date of the most recent acquisition by such Person
      or
      Persons) assets from the Company that have a total gross fair market value
      equal
      to or more than 50% of the total gross fair market value of all of the assets
      of
      the Company immediately before such acquisition or acquisitions.  For
      purposes herein, gross fair market value means the value of the assets of the
      Company, or the value of the assets being disposed of, determined without regard
      to any liabilities associated with such assets.  For purposes of
      Section 6, a Change of Control shall not occur unless such transaction
      constitutes a “change in ownership of a corporation”, a “change in effective
      control of a corporation”, or a “change in ownership of a substantial portion of
      a corporation’s assets” under Section 409A of the Code and the regulations
      promulgated thereunder.  Notwithstanding the foregoing, a Change of
      Control shall not be deemed to have occurred if following a transaction, the
      Executive and/or Catherine L. Hughes retain more than fifty percent (50%) of
      the
      voting power of the stock of the Company (or any surviving or resulting
      company).

     

    “Class
      D Common Stock” shall
      mean the Company’s class D common stock, par value $.001 per share.

     

    “COBRA”
shall
      mean the
      requirements of Part 6 of Subtitle B of Title I of ERISA and Code §4980B and of
      similar state law.

     

    “Code”
shall
      mean the Internal
      Revenue Code of 1986, as amended.

     

    “Commencement
      Date” shall have
      the meaning set forth in Section 3 hereof.

     

    “Common
      Stock” shall mean all
      classes of the Company’s common stock and any capital stock of the Company
      distributed after the date of this Agreement with respect to shares of the
      Company’s common stock by way of dividend, distribution, stock split, exchange,
      conversion, merger, consolidation, reorganization or other
      recapitalization.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Company
      Affiliate” shall mean
      any Subsidiary of the Company.

     

    “Compensation
      Committee” shall mean
      the
      compensation committee of the Board.

     

    “Competing
      Business” shall
      have the meaning set forth in Section 10.1 hereof.

     

    “Competing
      Market” shall have
      the meaning set forth in Section 10.1 hereof.

     

    “Confidential
      Information”
shall have the meaning set forth in Section 8 hereof.

     

    “Date
      of Termination” shall
      mean the date on which the Executive’s employment with the Company actually
      terminates.

     

    “Disability”
shall
      mean the
      Executive’s inability to render the services required under this Agreement by
      reason of a physical or mental disability for ninety (90) days, which need
      not
      be consecutive, during any twelve (12) consecutive month period, and the
      effective date of such Disability shall be the day next following such ninetieth
      (90th)
      day.  A determination of Disability will be made by a physician
      satisfactory to both the Executive and the Company; provided that if the
      Executive and the Company cannot agree as to a physician, then each will select
      a physician and such physicians shall together select a third physician, whose
      determination as to Disability shall be completed within ten (10) days of the
      date on which the disagreement between the Executive and the Company arose
      and
      the decision of such third physician will be final and binding on the Executive
      and the Company.  The Executive and the Company shall have the right
      to present to such physician such information and arguments as each deems
      appropriate, including the opinion of other physicians.

     

    “ERISA”
shall
      mean the
      Employee Retirement Income Security Act of 1974, as amended.

     

    “Fair
      Market Value” shall mean
      the closing price of a share of Common Stock on the applicable
      date.

     

    “Good
      Reason” shall be deemed
      to exist if, without the express written consent of the Executive, (a) the
      Executive’s rate of Annual Base Salary (as provided in Section 5.1 of this
      Agreement), including any increases, is reduced, (b) the Executive suffers
      a
      substantial reduction in his title, duties or responsibilities, (c) the Company
      fails to pay the Executive’s Annual Base Salary when due or to pay any other
      material amount due to the Executive hereunder within five (5) days of written
      notice from the Executive, (d) the Company materially breaches this Agreement
      (other than a breach described in the preceding clause (c)) and fails to correct
      such breach within thirty (30) days after receiving the Executive’s demand that
      it remedy the breach, or (e) the Company fails to obtain a satisfactory written
      agreement from any successor to assume and agree to perform this Agreement,
      which successor the Executive reasonably concludes is capable of performing
      the
      Company’s financial obligations under this Agreement.

     

    “Initial
      Restricted Stock” shall have
      the meaning set forth in Section 5.15(a) hereof.

     

    “Limited
      Amount” shall have
      the meaning set forth in Section 6.6(a) hereof.

     

    “Make-Whole
      Payment” shall
      have the meaning set forth in Section 5.4 hereof.

     

    “Noncompete
      Period” shall have
      the meaning set forth in Section 10.1 hereof.

     

    “Notice
      of Termination” shall
      have the meaning set forth in Section 6.5 hereof.

     

    “Options”
shall
      have the
      meaning set forth in Section 5.14 hereof.

     

    “Option
      Shares” shall have the
      meaning set forth in Section 5.14 hereof.

     

    “Person”
shall
      mean any
      natural or legal person including any individual, partnership, joint venture,
      corporation, association, joint stock company, limited liability company, trust,
      unincorporated organization or government or any department or agency or
      political subdivision thereof.

     

    “Section
      6.1 Severance Period”
shall have the meaning set forth in Section 6.1(a)(i) hereof.

     

    “Section
      6.2 Severance Period”
shall have the meaning set forth in Section 6.2(a)(v) hereof.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     “Signing
      Bonus” shall have the
      meaning set forth in Section 5.3 hereof.

     

    “Subsidiary”
shall
      mean, with
      respect to any Person, a corporation of which the securities having a majority
      of the voting power in electing directors are, at the time of determination,
      owned by such Person, directly or through one or more Subsidiaries.

     

    “Term
      of Employment” shall
      have the meaning set forth in Section 3 hereof.

     

    “Transfer”
shall
      mean a sale,
      transfer, assignment, pledge, hypothecation, mortgage or other disposition
      (whether with or without consideration and whether voluntarily or involuntarily
      or by operation of law) of any interest in any Option Shares or Common Stock;
      except that a transfer or assignment to any trust established and maintained
      for
      the benefit of the Executive shall not be deemed a Transfer hereunder; provided, that such trust
      agrees in writing to be bound by any transfer restrictions set forth
      herein.

     

    “TV
      One Award” shall have the
      meaning set forth in Section 5.5(a) hereof.

     

    “Vehicle
      Allowance” shall have
      the meaning set forth in Section 5.10 hereof.

     

    “Withholding
      Amount” shall
      have the meaning set forth in Section 5.15(b) hereof.

     

    “Work
      Product” shall have the
      meaning set forth in Section 9 hereof.

     

         
2.  Employment.  During
      the Term of Employment, subject to the terms and provisions set forth in this
      Agreement, the Company shall employ the Executive as the Chief Executive Officer
      and President of the Company, and the Executive hereby accepts such
      employment.

     

    3. Term
      of Employment.  The
      initial term of employment under this Agreement shall commence as of the date
      hereof (the “Commencement
      Date”) and, unless earlier terminated by the Company or the Executive
      under Section 6 of this Agreement, shall continue until April 15, 2011 (the
      “Term of
      Employment”).  Thereafter, the Term of Employment will be
      extended automatically for additional one (1) year periods, unless either party
      provides written notice of its/his intention not to renew to the other party
      at
      least sixty (60) days before the expiration of the initial or any renewal term
      of this Agreement, as applicable.

     

    4. Positions,
      Responsibilities and Duties.

     

    4.1 Duties.  During
      the Term of Employment, the Executive, as the Chief Executive Officer and
      President of the Company, shall be responsible, subject to the direction of
      the
      Board, for identifying acquisition opportunities for the Company and providing
      strategic guidance, leadership and direction to the management team of the
      Company and for such other duties and functions of a senior executive nature,
      commensurate with his title, responsibility and remuneration as may be directed
      from time to time by the Board. The Executive shall report
      solely to the Board.

     

    4.2 Attention
      to Duties and Responsibilities.  During
      the Term of Employment, the Executive shall devote substantially all of his
      business time to the business and affairs of the Company and shall use his
      best
      efforts, ability and fidelity to perform faithfully and efficiently his duties
      and responsibilities.

     

    5. Compensation
      and Other
      Awards.

     

    5.1 Annual
      Base Salary.  Commencing
      on the Commencement Date, as compensation for the services to be provided by
      the
      Executive under this Agreement, the Company shall pay the Executive an annual
      base salary of Nine-Hundred Eighty Thousand Dollars ($980,000.00) (the “Annual Base
      Salary”).  The Executive’s Annual Base Salary shall be reviewed
      by the Compensation Committee annually, and may be increased (but not decreased)
      as the Compensation Committee determines appropriate.  In making such
      determination, the Compensation Committee may take into account: the salaries
      of
      chief executive officers of companies that are similar in nature and scope
      to
      the businesses conducted by the Company at such time; the Company’s financial
      position and cash flow; and/or the impact of any such increase on the Company’s
      loan covenants.  Such Annual Base Salary shall be payable to the
      Executive in equal installments at least twice per month in accordance with
      the
      Company’s regular payroll practice.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.2 Annual
      Incentive Compensation.  With
      respect to each calendar year ending during the Term of Employment, the
      Executive shall have the opportunity to earn an annual incentive cash payment
      (the “Annual
      Incentive”) of one hundred percent (100%) of the Annual Base
      Salary.  Fifty percent (50%) of the Annual Incentive shall be
      determined by the Compensation Committee in its sole discretion, and fifty
      percent (50%) of the Annual Incentive shall be based upon the attainment of
      certain Executive and Company performance goals.  The applicable
      performance goals shall be determined by the Compensation Committee, in
      consultation with the Executive, and shall be communicated to the Executive
      in
      writing as soon as reasonably practicable following the Compensation Committee’s
      determination; provided, however,
      that with respect to
      calendar year 2009 and each subsequent calendar year during the Term of
      Employment, the performance goals shall be established in writing no later
      than
      ninety (90) days following the beginning of the calendar year.  The
      Compensation Committee shall determine whether and to what extent the applicable
      performance goals have been achieved and the amount of the Annual Incentive,
      if
      any.  The Annual Incentive shall be due and payable by the Company on
      or before March 15 of the year immediately following the year for which such
      Annual Incentive is awarded.

     

    5.3 Retroactive
      Compensation.  In
      recognition of the fact that the Executive was underpaid and was not employed
      pursuant to the terms of an employment contract for the last three (3) years,
      and in order to appropriately adjust the Executive’s compensation retroactively,
      the Company shall make a one-time lump sum cash payment (the “Signing Bonus”) to the
      Executive equal to One Million Dollars ($1,000,000), less appropriate tax
      withholdings.  Such Signing Bonus shall be paid within sixty (60) days
      of the Commencement Date.  Notwithstanding the foregoing, the Signing
      Bonus shall be paid in installments or delayed (but not later than March 15,
      2009) to the extent necessary or appropriate for the Company to (a) maintain
      its
      covenants under any loan, credit or financing arrangement, including maintenance
      of such covenants taking into consideration any pro forma results stemming
      from
      any business initiatives of the Company or (b) meet its cash flow
      needs.

     

    5.4 Make-Whole
      Payment.  In
      recognition of the Executive’s dedication and loyalty and to compensate him for
      real losses associated with his prior employment contract in which he did not
      receive a retention bonus or loan forgiveness from the Company, the Company
      shall make a one-time cash payment (the “Make-Whole Payment”) to the
      Executive equal to Four Million Eight Hundred Thousand Dollars ($4,800,000),
      less appropriate tax withholdings.  Such Make-Whole Payment shall be
      paid in a lump sum within sixty (60) days of the Commencement
      Date.  Notwithstanding the foregoing, the Make-Whole Payment shall be
      paid in installments or delayed (but not later than March 15, 2009) to the
      extent necessary or appropriate for the Company to (a) maintain its covenants
      under any loan, credit or financing arrangement, including maintenance of such
      covenants taking into consideration any pro forma results stemming from any
      business initiatives of the Company or (b) meet its cash flow
      needs.

     

    5.5 TV
      One Award/Internet Strategies.

     

                                  
      (a) In
      recognition of his contributions in founding TV One LLC (“TV One”) on behalf of
      the Company, the Executive shall be eligible to receive an amount equal to
      eight
      percent (8%) of any proceeds from distributions or other liquidity events in
      excess of the return of the Company’s aggregate investment in TV One (the “TV One
      Award”).  The Company’s obligation to pay the TV One Award
      shall be triggered (i) only after the Company’s recovery of the aggregate amount
      of its capital contribution in TV One and (ii) only upon actual receipt of
      (A)
      distributions of cash or marketable securities or (B) proceeds from a liquidity
      event with respect to the Company’s membership interest in TV
      One.  The Executive’s eligibility to receive the TV One Award shall
      survive a Change of Control and/or Executive’s termination of employment;
      provided, however, that in the event of either a termination for Cause or
      termination by Executive without Good Reason, the Executive’s rights hereunder
      to the TV One Award shall automatically extinguish and cease in their
      entirety.  As soon as practicable after the date hereof, the parties
      shall enter into agreements evidencing the TV One Award.

     

                                  
      (b) The
      Company and the Executive agree to negotiate in good faith to determine whether
      the Executive should be entitled to any interest in, or additional compensation
      for, the development and success of an internet strategy, any such award to
      be
      made at the sole discretion of the Compensation Committee.

     

    5.6 Retirement
      and Savings Plans.  During
      the Term of Employment and to the extent eligible, the Executive shall be
      entitled to participate in all pension, retirement, savings and other employee
      benefit plans and programs applicable to peer executives of the
      Company.

     

    5.7 Welfare
      Benefit Plans and Perquisites.  During
      the Term of Employment and to the extent eligible, the Executive, the
      Executive’s spouse, if any, and the Executive’s eligible dependents, if any,
      shall be entitled to participate in and be covered by all welfare benefit plans
      and programs, if any, and shall be entitled to receive such perquisites and
      fringe benefits, if any, generally applicable to executives of the
      Company.

     

    5.8 Expense
      Reimbursement.  During
      the Term of Employment, the Executive shall be entitled to receive prompt
      reimbursement for all reasonable expenses incurred by the Executive in
      performing his duties and responsibilities hereunder in accordance with the
      policies and procedures of the Company as in effect at the time the expense
      was
      incurred, as the same may be changed prospectively from time to
      time.  The amount of expenses eligible for reimbursement during any
      calendar year shall not affect the expenses eligible for reimbursement in any
      other calendar year, and the reimbursement of an eligible expense shall be
      made
      as soon as practicable after the Executive submits the request for such
      reimbursement, but not later than December 31 following the calendar year in
      which the expense was incurred.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.9 Vacation
      Benefits.  During
      the Term of Employment, the Executive shall be entitled to four (4) weeks paid
      vacation annually to be taken at such times which do not materially interfere
      with the operations of the Company.  Any vacation not used by the
      Executive during any calendar year during the Term of Employment shall
      accumulate to the extent permitted by and in accordance with the Company policy
      then in effect.

     

    5.10 Vehicle
      Allowance.  During
      the Term of Employment, (i) the Executive shall be entitled to use of an
      automobile leased by the Company and (ii) the Company shall pay the cost of
      any
      and all applicable insurance coverage therefor and any other operating expenses
      related to such automobile (the benefits provided in (i) and (ii) shall be
      collectively referred to as the “Vehicle
      Allowance”).  The Executive acknowledges that the Company will
      impute income to the Executive based on the portion of the Vehicle Allowance
      that does not constitute an ordinary and necessary business expense of the
      Company.  During the Term of Employment, the monthly cost to the
      Company of such Vehicle Allowance shall be at least equal to the monthly amount
      being paid by the Company for the Executive’s automobile lease and applicable
      insurance and operating expenses on the date of this Agreement.  Upon
      expiration of the Company’s lease, the Executive shall have the right to
      purchase such vehicle in accordance with the terms of the Company’s lease
      agreement for such vehicle.

     

    5.11 Wireless
      Communications Allowance.  During
      the Term of Employment, the Executive shall be entitled to use of a wireless
      telephone and/or other wireless communications devices with all equipment and
      service costs thereof to be borne by the Company.

     

    5.12 Personal
      Assistant.  During
      the Term of Employment, the Company shall make available to the Executive the
      services of a full-time personal assistant.  The Executive
      acknowledges that the Company will impute income to the Executive based on
      the
      portion of the cost of the personal assistant’s services that does not
      constitute an ordinary and necessary business expense of the
      Company.

     

    5.13 Financial
      Manager.  During
      the Term of Employment, the Company shall make available to the Executive the
      services of a financial manager.  The Executive acknowledges that the
      Company will impute income to the Executive based on the services provided
      by
      the financial manager.

     

    5.14 Stock
      Options.  Effective
      as of the next monthly grant date under the Company’s equity compensation
      policy  following the Commencement Date, the Company shall grant to
      the Executive options to purchase one million one hundred fifty thousand
      (1,150,000) shares of Class D Common Stock (the “Options,” and the shares of
      Class D Common Stock obtainable upon exercise of such Options, the “Option
      Shares”).  Notwithstanding the foregoing, Executive agrees that
      the Options grant may be deferred until the month following the next monthly
      grant (or to successive months) if, in the Compensation Committee’s sole
      discretion, such a deferral is deemed necessary to comply with insider trading
      rules and regulations.  Except as set forth in this Section 5.14, all
      terms and conditions of such Options (and such Option Shares) shall be set
      forth
      in the Company’s equity compensation plan and such documentation as the Company
      may prescribe.

     

                                   
      (a) The
      price payable by the Executive for each Option Share shall be the Fair Market
      Value of each Option Share on the date of grant as set forth in the option
      agreement.

     

                                    
      (b) The
      Options to purchase Option Shares shall vest in accordance with the following
      schedule:

     

    
      	
              Vesting
                Date

            	 	
              Vested
                Percentage of Options to Purchase Option
                Shares

            	 
	
              April
                15, 2009

            	 	 	33
              1/3	%
	
              April
                15, 2010

            	 	 	66
              2/3	%
	
              April
                15, 2011

            	 	 	100	%
	 	 	 	 	 

    

    

                                   
      (c) Notwithstanding
      any other provision contained herein, upon a Change of Control, all of the
      Executive’s Options shall become fully and immediately exercisable.

     

                                    (d) Upon
      termination of the Executive’s employment hereunder, any then unexercisable
      Option shall expire and be immediately forfeited.  The Executive’s
      right to exercise any exercisable Option following termination of his employment
      shall be governed in accordance with the terms of the Company’s equity
      compensation plan; provided,
      however, that if the Executive’s employment terminates for any reason
      other than his death or Disability, any exercisable Option shall not also expire
      and be forfeited until the ninetieth (90th)
      day
      following such termination.

     

                                    (e) All
      unexercised Options to acquire Option Shares shall expire on the tenth
      anniversary of their respective dates of grant.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.15 Restricted
      Stock Awards.

     

                                  
      (a) Effective
      as of the next monthly grant date under the Company’s equity compensation policy
      following the Commencement Date, the Company shall grant to the Executive three
      hundred thousand (300,000) shares of Class D Common Stock (in the aggregate,
      the
“Initial Restricted
      Stock”) subject to certain vesting and transfer restrictions set forth in
      this Section 5.15, the equity compensation plan and such documentation as the
      Company may prescribe.  Notwithstanding the foregoing, Executive
      agrees that the Initial Restricted Stock grant may be deferred until the month
      following the next monthly grant (or to successive months) if, in the
      Compensation Committee’s sole discretion, such a deferral is deemed necessary to
      comply with insider trading rules and regulations.  The Compensation
      Committee also may, in its sole discretion, award additional shares of Class
      D
      Common Stock, subject to vesting and transfer restrictions, to the Executive
      during each or any year occurring during the Term of Employment, based upon
      the
      attainment of certain Company performance goals during any such
      year.  Such performance goals shall be determined by the Compensation
      Committee in consultation with the Executive, and shall be communicated to
      the
      Executive in writing as soon as reasonably practicable following the
      Compensation Committee’s determination.  The Compensation Committee
      shall determine whether and to what extent the applicable performance goals
      have
      been achieved.  Any such additional grant of restricted stock shall be
      subject to such terms and conditions as may be set forth in the Company’s equity
      compensation plan and such documentation as the Company may
      prescribe.

     

                                  
      (b) The
      Executive shall be responsible for the payment of any withholding tax
      requirement arising from the vesting of the awards described in Section
      5.15(a).  The amount of withholding tax required with respect to the
      Initial Restricted Stock award (the “Withholding Amount”) shall be
      determined by the Chief Financial Officer, Controller or other appropriate
      officer of the Company, and the Executive shall furnish such information and
      make such representations as such officer requires to make such
      determination.  The Company shall notify the Executive of the
      Withholding Amount and the Executive shall pay such Withholding Amount to the
      Company, in cash, by certified cashier’s check, or by delivery of shares of
      Company Common Stock owned by the Executive having a Fair Market Value equal
      to
      the Withholding Amount (which may include shares otherwise issuable to the
      Executive upon vesting of the award).  The Company shall remit the
      Withholding Amount to the appropriate taxing authority or
      authorities.

     

                                  
      (c) The
      Initial Restricted Stock shall vest in accordance with the following vesting
      schedule:

     

    
      	
              Vesting
                Date

            	 	
              Vested
                Percentage of Shares of Initial Restricted
                Stock

            	 
	
              April
                15, 2009

            	 	 	33
              1/3	%
	
              April
                15, 2010

            	 	 	66
              2/3	%
	
              April
                15, 2011

            	 	 	100	%
	 	 	 	 	 

    

     

                                  Subsequent
      awards described in Section 5.15(a) shall vest in accordance with the terms
      of
      the Company’s equity compensation plan and such documentation as the Company may
      prescribe.

     

                                 
      (d) The
      Executive shall be entitled to receive, whether in the form of cash or stock,
      dividends declared on any unvested Class D Common Stock granted pursuant to
      this
      Section 5.15 which shall be paid to the Executive on the date such dividends
      are
      paid to other holders of Class D Common Stock.

     

                                  (e) Notwithstanding
      any other provision contained herein, upon a Change of Control, all of the
      Executive’s unvested Initial Restricted Stock and all unvested shares of other
      awards granted under Section 5.15(a) shall immediately become fully
      vested.

     

                                 
      (f) During
      the Term of Employment, the Executive may not Transfer any unvested Initial
      Restricted Stock, or any unvested shares of other awards granted under Section
      5.15(a).  Any Transfer or attempted Transfer of any such unvested
      share in violation of this Section 5.15(f) shall be null and void, and the
      Company shall not record such Transfer on its books or treat any purported
      transferee of such unvested share as the owner of such security for any
      purpose.

     

    6. Termination.  The
      Executive’s employment hereunder (and the Term of Employment) may be terminated
      under the following circumstances:

     

                          
      6.1 Termination
      by the Company Without
      Cause or by Executive for Good Reason.

     

                                
      (a) Subject
      to Section 6.2, in the event that the Company terminates the Executive’s
      employment without Cause (which shall include a termination at the end of the
      Term of Employment by reason of the Company’s non-renewal of the Agreement
      pursuant to Section 3), or if the Executive terminates his employment for Good
      Reason in accordance with Section 6.1(c) below, the Executive shall only be
      entitled to:

     

                                      
      (i) the
      continuation of the Annual Base Salary at the rate then in effect (as provided
      in Section 5.1 of this Agreement) on the Date of Termination for a period of
      twelve (12) months commencing on such Date of Termination (the “Section 6.1 Severance
      Period”);

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

                                      
      (ii) subject
      to the provisions of Section 5.2, a portion of the Annual Incentive for the
      year
      in which the Date of Termination occurs, determined by dividing the number
      of
      days in the calendar year through the Date of Termination by three hundred
      sixty-five (365) and multiplying such fraction by the Annual Incentive which
      the
      Executive would have earned if he had remained employed by the Company for
      the
      entire calendar year; provided, however,
      that the
      discretionary portion of the Annual Incentive shall be determined in good faith
      by the Compensation Committee taking into account the Executive’s length of
      service and contribution towards the Company’s business during the year in which
      the Date of Termination occurs;

     

                                        (iii) any
      Annual Base Salary accrued to the Date of Termination, and any Annual Incentive
      relating to a prior year actually earned but not yet paid as of the Date of
      Termination;

     

                                       
      (iv) reimbursement
      for all expenses (under Section 5.8 of this Agreement) incurred as of the Date
      of Termination, but not yet paid as of the Date of Termination;

     

                                       
      (v) to
      the extent applicable, and as so permitted by applicable law, the continuation
      of the Executive’s welfare benefits (as described in Section 5.7 of this
      Agreement) at the level in effect on the Date of Termination during the Section
      6.1 Severance Period or beyond as the law requires, and any other compensation
      and benefits as may be provided in accordance with the terms and provisions
      of
      applicable plans and programs, if any, generally applicable to executives of
      the
      Company or specifically applicable to the Executive; provided,
      that, that the Company shall
      provide the Executive with group health continuation coverage for the Executive
      and his dependents during such Section 6.1 Severance Period on the same terms
      and conditions as applicable to active employees, and such period of coverage
      shall run concurrently with the COBRA continuation coverage period; provided further, that, in
      the event that the Executive becomes eligible for comparable group health
      coverage provided by a subsequent employer, the coverage provided pursuant
      to
      this Section 6.1(a)(v) shall cease;

     

                                       
      (vi) such
      rights as the Executive may have under any other written agreement between
      the
      Company and the Executive which is currently in effect or under any employee
      benefit plan or program of the Company (including rights to equity
      compensation).

     

                                      
      For the avoidance of doubt, in the event that amounts payable pursuant to
      Sections 5.3 and 5.4 herein have not yet been paid to the Executive on the
      Date
      of Termination, the Executive shall receive such amounts in accordance with
      Sections 5.3 and 5.4.

     

                                 
      (b) Subject
      to Section 6.6, the amounts owed under Section 6.1(a)(i) shall be payable in
      equal bi-weekly installments from the Date of Termination through the expiration
      of the Section 6.1 Severance Period.  Each such installment shall be
      treated as a separate payment for purposes of Section 409A of the
      Code.  The amounts owed under Section 6.1(a)(ii) shall be payable, if
      at all, at the same time as the Annual Incentive normally would be paid under
      Section 5.2 for the calendar year in which the Date of Termination
      occurs.  The amounts owed under Section 6.1(a)(iii) shall be paid
      within fifteen (15) days of the Date of Termination.  The amounts owed
      under Section 6.1(a)(iv), unless otherwise expressly specified herein, shall
      be
      paid in accordance with the plan, programs, policies and procedures of the
      Company in effect at the time the applicable expenses are
      incurred.  The amounts owed under Section 6.1(a)(v) shall be payable
      in accordance with the terms of the applicable plans and
      programs.  The amounts owed under Section 6.1(a)(vi) shall be paid in
      accordance with the applicable agreements, plans, and programs.

     

                                  
      (c) Upon
      thirty (30) days’ prior written notice to the Board, the Executive may terminate
      his employment under this Agreement for Good Reason and such notification shall
      specify the act, or acts, on the basis of which the Executive has found Good
      Reason, provided, that
such
      notice must be
      provided by the Executive to the Board no later than ninety (90) days following
      the Executive’s knowledge of the initial existence of the circumstances that
      constitute Good Reason.  The Board shall then be provided the
      opportunity, within thirty (30) days of its receipt of such notification, to
      meet with the Executive to discuss such act or acts.  If the Executive
      does not rescind his termination of employment at such meeting, the Executive’s
      employment by the Company shall be terminated for Good Reason pursuant to this
      Section 6.1, and the Executive shall receive the benefits provided under Section
      6.1(a) hereof.

     

    6.2 Termination
      in Connection with a
      Change of Control.

     

                                  
      (a) In
      the event (x) the Company terminates the Executive’s employment without Cause
      (which shall include a termination at the end of the Term of Employment by
      reason of the Company’s non-renewal of the Agreement pursuant to Section 3) or
      the Executive terminates his employment for Good Reason, and (y) such
      termination occurs within two years following a Change of Control, the Executive
      shall only be entitled to:

     

                                       
      (i) an
      amount equal to three times (3x) the sum of (x) the Annual Base Salary at the
      rate then in effect (as provided in Section 5.1 of this Agreement) on the Date
      of Termination (or, if greater, the date immediately preceding the Change in
      Control) and (y) the average of the last three Annual Incentive payments (or,
      if
      the Executive has received fewer than three Annual Incentive Payments, the
      average of all such Annual Incentive Payments);

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

                                        (ii) subject
      to the provisions of Section 5.2, a portion of the Annual Incentive for the
      year
      in which the Date of Termination occurs, determined by dividing the number
      of
      days in the calendar year through the Date of Termination by three hundred
      sixty-five (365) and multiplying such fraction by the Annual Incentive which
      the
      Executive would have earned if he had remained employed by the Company for
      the
      entire calendar year; provided, however,
      that the
      discretionary portion of the Annual Incentive shall be determined in good faith
      by the Compensation Committee taking into account the Executive’s length of
      service and contribution towards the Company’s business during the year in which
      the Date of Termination occurs;

     

                                       
      (iii) any
      Annual Base Salary accrued to the Date of Termination and any Annual Incentive
      relating to a prior year actually earned but not yet paid as of the Date of
      Termination;

     

                                       
      (iv) reimbursement
      for all expenses (under Section 5.8 of this Agreement) incurred as of the Date
      of Termination, but not yet paid as of the Date of Termination;

     

                                       
      (v) to
      the extent applicable, and as so permitted by applicable law, the continuation
      of the Executive’s welfare benefits (as described in Section 5.7 of this
      Agreement) at the level in effect on the Date of Termination for a period of
      three (3) years commencing on the Date of Termination (the “Section 6.2 Severance
      Period”) or
      beyond as the law requires, and any other compensation and benefits as may
      be
      provided in accordance with the terms and provisions of applicable plans and
      programs, if any, generally applicable to executives of the Company or
      specifically applicable to the Executive, provided,
      that, the Company shall
      provide the Executive with group health continuation coverage for the Executive
      and his dependents during such Section 6.2 Severance Period on the same terms
      and conditions as applicable to active employees; and such period of coverage
      shall run concurrently with the COBRA continuation coverage period; provided further, that, in
      the event that the Executive becomes eligible for comparable group health
      coverage provided by a subsequent employer, the coverage provided pursuant
      to
      this Section 6.2(a)(v) shall cease; and

     

                                       
      (vi) such
      rights as the Executive may have under any other written agreement between
      the
      Company and the Executive which is then currently in effect or under any
      employee benefit plan or program of the Company (including rights to equity
      compensation).

     

                                         For
      the avoidance of doubt, in the event that amounts payable pursuant to Sections
      5.3 and 5.4 herein have not yet been paid to the Executive on the Date of
      Termination, the Executive shall receive such amounts in accordance with
      Sections 5.3 and 5.4.

     

                                       
      (vii) Notwithstanding
      any other provision contained herein, in the event (x) the Company terminates
      the Executive’s employment without Cause (including, without limitation, by
      reason of the Company’s non-renewal of the Agreement pursuant to Section 3) or
      the Executive terminates his employment for Good Reason, and (y) such
      termination occurs within six (6) months preceding a Change of Control, the
      Executive shall only be entitled to the payments and benefits set forth in
      Section 6.1(a); provided,
      however, that (a) upon the date of the Change of Control, any payments
      which have not yet been made to the Executive pursuant to Section 6.1(a)(i)
      shall be paid to the Executive in a lump sum within five (5) business days
      following the date of the Change of Control; (b) the Executive shall be entitled
      to an additional lump sum payment in the amount of the sum of (1) and (2),
      where
      (1) equals two times (2x) the Annual Base Salary at the rate in effect on the
      Date of Termination, and (2) equals three times (3x) the average of the last
      three Annual Incentive payments (or, if the Executive has received fewer than
      three Annual Incentive Payments, the average of all such Annual Incentive
      Payments), which shall be paid within ten (10) days following the date of the
      Change in Control; and (c) the Company shall provide the Executive with group
      health coverage for the Executive and his dependents during the Section 6.2
      Severance Period on the same terms and conditions as applicable to active
      employees and such period of coverage shall run concurrently with the COBRA
      continuation coverage period; provided, that, in the event
      that the Executive becomes eligible for group health coverage provided by a
      subsequent employer, the coverage provided pursuant to this Section 6.2(a)(vii)
      shall cease.

     

                                 
      (b) Subject
      to Section 6.6, the amounts owed under Section 6.2(a)(i) shall be payable to
      the
      Executive in a single lump sum within five (5) business days following the
      Date
      of Termination.  The amounts owed under Section 6.2(a)(ii) shall be
      payable, if at all, at the same time as the Annual Incentive normally would
      be
      paid under Section 5.2 for the calendar year in which the Date of Termination
      occurs.  The amounts owed under Section 6.2(a)(iii) shall be paid
      within fifteen (15) days of the Date of Termination.  The amounts owed
      under Section 6.2(a)(iv), unless otherwise expressly specified herein, shall
      be
      paid in accordance with the plans, programs, policies and procedures of the
      Company in effect at the time the applicable expenses were
      incurred.  The amounts owed under Section 6.2(a)(v) shall be payable
      in accordance with the terms of the applicable plans and
      programs.  The amounts owed under Section 6.2(a)(vi) shall be paid in
      accordance with the applicable agreements, plans, and programs.

     

    6.3 Termination
      Due to Death or
      Disability, by the Company for Cause or by Executive without Good
      Reason.

     

                                  
      (a) In
      the event of the Executive’s death, or a termination of the Executive’s
      employment under this Agreement by either the Company or the Executive due
      to
      Disability, or the termination by the Company of the Executive’s employment
      under this Agreement for Cause in accordance with Section 6.3(c) below, or
      if
      the Executive terminates his employment with the Company without Good Reason
      in
      accordance with Section 6.3(d) below (which shall be deemed to include a
      termination at the end of the Term of Employment by reason of the Executive’s
      non-renewal of the Agreement pursuant to Section 3), the Term of Employment
      shall end and, notwithstanding Section 5 hereof, the Executive, his estate
      or
      other legal representative, as the case may be, shall only be entitled
      to:

    
      
      

      
        

      

    

    
      
      

    

                                       
      (i) any
      Annual Base Salary accrued to the Date of Termination,  and any Annual
      Incentive relating to a prior year actually earned but not yet paid as of the
      Date of Termination;

     

                                      
      (ii) subject
      to the provisions of Section 5.2, a portion of the Annual Incentive for the
      year
      in which the Date of Termination occurs, determined by dividing the number
      of
      days in the calendar year through the Date of Termination by three hundred
      sixty-five (365) and multiplying such fraction by the Annual Incentive which
      the
      Executive would have earned if he had remained employed by the Company for
      the
      entire calendar year;
      provided, however, that the
      discretionary portion of the Annual Incentive shall be determined in good faith
      by the Compensation Committee taking into account the Executive’s length of
      service and contribution towards the Company’s business during the year in which
      the Date of Termination occurs;

     

                                      
      (iii) reimbursement
      for all expenses (under Section 5.8 of this Agreement) incurred as of the Date
      of Termination, but not yet paid as of the Date of Termination;

     

                                      
      (iv) any
      other compensation and benefits as may be provided in accordance with the terms
      and provisions of applicable plans and programs, if any, generally applicable
      to
      executives of the Company or specifically applicable to the Executive;
      and

     

                                      
      (v) such
      rights as the Executive may have under any other written agreement between
      the
      Company and the Executive which is currently in effect or employee benefit
      plan
      or program of the Company (including rights to equity
      compensation).

     

                                       For
      the avoidance of doubt, in the event that amounts payable pursuant to Sections
      5.3 and 5.4 herein have not yet been paid to the Executive on the Date of
      Termination, the Executive shall receive such amounts in accordance with
      Sections 5.3 and 5.4.

     

                                   (b) The
      amounts owed under Section 6.3(a)(i) shall be paid within fifteen (15) days
      of
      the Date of Termination.  The amounts owed under Section 6.3(a)(ii)
      shall be payable, if at all, at the same time as the Annual Incentive normally
      would be paid under Section 5.2 for the calendar year in which the Date of
      Termination occurs.  The amounts owed under Section 6.3(a)(iii),
      unless otherwise expressly specified herein, shall be paid in accordance with
      the policies and procedures of the Company in effect at the time the applicable
      expenses were incurred.  The amounts owed under Section 6.3(a)(iv)
      shall be payable in accordance with the terms of the applicable plans and
      programs.  The amounts owed under Section 6.3(a)(v) shall be paid in
      accordance with the applicable plan, program, or agreement.

     

                                   (c) The
      Company may terminate the Executive for Cause.  In each case, the
      existence of Cause must be confirmed by the Board prior to any termination
      therefor.  In the event of such a confirmation, the Company shall
      notify the Executive that the Company intends to terminate the Executive’s
      employment for Cause under this Section 6.3.  Such notification shall
      specify the act, or acts, on the basis of which the Board has so confirmed
      the
      existence of Cause.

     

                                  
      (d) Upon
      sixty (60) days’ prior written notice to the Board, the Executive may terminate
      his employment under this Agreement without Good Reason.

     

    6.4 No
      Mitigation; No Offset.  In
      the event of any termination of employment, the Executive shall be under no
      obligation to seek other employment and there shall be no offset against any
      amounts due the Executive under this Agreement on account of any remuneration
      attributable to any subsequent employment that the Executive may
      obtain.  Any amounts due under this Section 6 are in the nature of
      severance payments, or liquidated damages, or both, and are not in the nature
      of
      a penalty.

     

    6.5 Notice
      of Termination.  Any
      termination of the Executive’s employment under this Section 6 shall be
      communicated by a notice of termination (the “Notice of Termination”) to
      the other party hereto given in accordance with Section 12.4 of this
      Agreement.  Such notice shall (a) indicate the specific termination
      provision in this Agreement relied upon, (b) set forth in reasonable detail
      the
      facts and circumstances claimed to provide a basis for termination of the
      Executive’s employment under the provision so indicated, and (c) if the
      termination date is other than the date of receipt of such notice, specify
      the
      date on which the Executive’s employment is to be terminated (which date shall
      not be earlier than the date on which such notice is actually
      received).

     

    6.6 Compliance
      With Section 409A.  Notwithstanding
      any provision of this Agreement to the contrary, if as of the Date of
      Termination, the Executive is or is deemed to be a specified employee within
      the
      meaning of Section 409A(a)(2)(B)(i) of the Code, the following rules shall
      apply:

     

                                   (a) To
      the extent that any amounts described in Section 6 in the aggregate do not
      exceed the limits set forth in Section 402(g)(1)(B) of the Code (the “Limited Amount”) in the
      calendar year in which the Date of Termination occurs, such amount shall be
      payable in accordance with Section 6.1(b) or 6.2(b), as applicable.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

                                 
       (b) In
      the event that deferral of the commencement of any other payments or benefits
      otherwise payable pursuant to this Agreement is necessary in order to prevent
      any accelerated or additional tax under Section 409A of the Code, the Company
      shall defer commencement of the payment of any such payments or benefits
      hereunder (without any reduction in such payments or benefits ultimately paid
      or
      provided to the Executive), and any payments or benefits that would otherwise
      be
      paid to the Executive during the six-month period following his Date of
      Termination shall be accumulated and paid to the Executive in a single cash
      lump
      sum (without interest) within ten (10) days following the first business day
      of
      the seventh month following the Date of Termination.

     

    7. Insurance

     

    7.1 . The
      Company will insure the Executive, for the duration of his employment, and
      thereafter in respect of his acts and omissions occurring during such
      employment, under a contract of directors’ and officers’ liability insurance to
      the same extent as any such insurance insures members of the Board.

     

    8. Confidential
      Information.  The
      Executive acknowledges that the confidential or proprietary information obtained
      by him while employed by the Company concerning the business or affairs of
      the
      Company or any Affiliate of the Company (“Confidential Information”) is
      the property of the Company or such Affiliate, as the case may
      be.  For purposes of this Agreement, the term “Confidential Information”
does not include
      information that the Executive can demonstrate (a) was in the
      Executive’s possession prior to first being employed by the Company, provided, that such
      information is not known by the Executive to be subject to another
      confidentiality agreement with, or other obligation of secrecy to, the Company
      or another party, (b) is generally available to the public and became generally
      available to the public other than as a result of a disclosure in violation
      of
      this Agreement, (c) became available to the Executive on a non-confidential
      basis from a third party, provided, that such third
      party is not known by the Executive to be bound by a confidentiality agreement
      with, or other obligation of secrecy to, the Company or another party or is
      otherwise prohibited from providing such information to the Executive by a
      contractual, legal or fiduciary obligation or (d) the Executive is required
      to
      disclose pursuant to applicable law or regulation (as to which information,
      the
      Executive will provide the Company with prior notice of such requirement and,
      if
      practicable, an opportunity to obtain an appropriate protective
      order).  The Executive agrees that he will not during the Term of
      Employment and for the two-year period following the Term of Employment,
      willfully disclose Confidential Information to any Person (other than employees
      of the Company or any Subsidiary thereof or any other Person expressly
      authorized by the Board to receive Confidential Information or otherwise as
      required in the course of his duties during the Term of Employment) or use
      for
      his own account any Confidential Information without the prior written consent
      of the Board.  The Executive shall deliver to the Company at the
      termination of the Term of Employment, or at any other time the Board may
      request in writing, all memoranda, notes, plans, records, reports, computer
      tapes and software and other documents and data (and copies thereof) containing
      Confidential Information or Work Product which he may then possess or have
      under
      his control.  The Company shall, upon the Executive’s request, provide
      to the Executive a copy of such documents as may be reasonably necessary for
      the
      Executive to defend himself in any third party shareholder disputes, and which
      shall otherwise remain subject to the provisions of this Section 8.

     

    9. Work
      Product.  The
      Executive agrees that all inventions, innovations, improvements, developments,
      methods, designs, analyses, reports and all similar or related information
      which
      relate to the Company’s or its Subsidiaries’ actual business, research and
      development or existing products or services and which are conceived, developed
      or made by the Executive while employed with the Company (“Work Product”) belong to the
      Company or such Subsidiary.  Upon the written request of the Board,
      the Executive will promptly disclose such Work Product to the Board and perform
      all actions reasonably requested by the Board (whether during or after the
      Term
      of Employment) to establish and confirm such ownership.

     

    10. Noncompete,
      Non-Solicitation.

     

    10.1 Non-Compete. The
      Executive
      acknowledges that in the course of his employment with the Company he will
      become familiar with the trade secrets and other confidential information of
      the
      Company and the Subsidiaries of the Company and that his services will be of
      special, unique and extraordinary value to the Company.  Therefore,
      the Executive agrees that, during the Term of Employment and for an additional
      period (the “Noncompete
      Period”) equal to one (1) year thereafter, he shall not directly or
      indirectly own, manage, control, participate in, consult with, or render
      services for any “Competing Business” (as defined below) in any “Competing
      Market” (as defined below).  For purposes of this section, a “Competing Business”
is  any enterprise or
      individual engaged (or after Executive’s
      arrival, that becomes engaged) in the production, sale or distribution of
      content via cable television, the world wide web, radio or other media used
      by
      the Company to distribute content as of the Date of Termination that (i)
      principally targets African-American audiences or (ii) creates, maintains or
      operates entertainment or social services aimed at African-American consumers
      or
      users.  A division or subsidiary of a diversified business will be
      treated as a Competing Business only if (i) the diversified business falls
      within the preceding sentence and (ii) the Executive directly provides services
      to that division or subsidiary as his primary employment within the diversified
      business.  A “Competing Market” is a
      geographic market in which the Company or any Company Affiliate has, on or
      before the Date of Termination, (i) commenced material operations or (ii)
      determined before such date to commence such material operations and committed
      substantial resources to either determining the feasibility of such commencement
      or actually commencing such operations.  The Company agrees that any
      businesses arising out of or related to the Executive’s current ownership of and
      interest in Music One, Inc. are expressly excluded from the intended scope
      of
      this provision and thus not Competing Businesses.  Nothing herein
      shall prohibit the Executive from being a passive owner of not more than 4.9%
      of
      the outstanding stock of any class of a corporation which is publicly traded,
      so
      long as the Executive has no active participation in the business of such
      corporation.  Notwithstanding the foregoing, if Executive’s employment
      terminates without Cause or for Good Reason, the Noncompete Period shall be
      limited to the Term of Employment.

    
      
      

      
        

      

    

    
      
      

    

    10.2 Non-Solicit.
      During the
      Noncompete Period, the Executive shall not directly or indirectly through
      another Person (i) induce or attempt to induce any employee of the Company
      or
      any Subsidiary of the Company (other than Catherine Hughes) to leave the employ
      of such Person; (ii) hire any individual who was an executive of the Company
      or
      its Subsidiaries, a general, station or regional manager of the Company or
      its
      Subsidiaries, or a radio personality employed by the Company or its Subsidiaries
      at any time during the Term of Employment (other than Catherine Hughes and
      individuals who have not been employed by the Company or a Subsidiary of the
      Company for a period of at least one (1) year prior to employment by the
      Executive directly or indirectly through another Person); or (iii) induce or
      attempt to induce any customer, supplier, licensee or other Person having a
      business relationship with the Company or any Subsidiary of the Company to
      cease
      doing business with the Company or such Subsidiary of the Company, or interfere
      materially with the relationship between any such customer, supplier, licensee
      or other Person having a business relationship with the Company or any
      Subsidiary of the Company.

     

    10.3 Acknowledgements.

     

                                   
      (a) The
      Executive agrees and acknowledges that the type and scope of restrictions
      described in this Section 10 are fair and reasonable and that the restrictions
      are designed to protect the legitimate interests of the Company and not to
      prevent him from earning a living.  If, however, at the time of
      enforcement of this Section 10, a court shall hold that the duration, scope
      or
      area restrictions stated herein are unreasonable under circumstances then
      existing, the parties agree that the maximum duration, scope or area reasonable
      under such circumstances shall be substituted for the stated duration, scope
      or
      area and that the court shall be allowed to revise the restrictions contained
      herein to cover the maximum period, scope and area permitted by
      law.

     

                                   
      (b) The
      Executive acknowledges and agrees that the Executive’s breach of Section 8 or
      Section 10 of this Agreement will cause substantial and irreparable harm to
      the
      Company, and therefore, in the event of any such breach, in addition to such
      other remedies that may be available, the Company shall be entitled to equitable
      relief, including specific performance and injunctive relief.

     

                                   
      (c) In
      the event that the Executive’s employment terminates for whatever reason, the
      Executive hereby grants consent to notification by the Company to the
      Executive’s new employer concerning the Executive’s obligations under Sections 8
      and 10 of this Agreement.

     

                                    (d) In
      the event that legal action is deemed necessary by the Company to enforce the
      provisions of Section 8 or Section 10 of this Agreement, the time period for
      all
      covenants and restrictions contained in Sections 8 and 10 shall be tolled during
      such time as the litigation is pending.

     

    11. Successors.

     

    11.1 Executive.  This
      Agreement is personal to the Executive and, without the prior express written
      consent of the Company, shall not be assignable by the Executive, except that
      the Executive’s rights to receive any compensation or benefits under this
      Agreement may be transferred or assigned pursuant to testamentary disposition,
      intestate succession or pursuant to a qualified domestic relations
      order.  This Agreement shall inure to the benefit of and be
      enforceable by the Executive’s heirs, beneficiaries and/or legal
      representatives.

     

    11.2 The
      Company.  This
      Agreement shall inure to the benefit of and be binding upon the Company and
      its
      successors and assigns, provided, that the Company
      may only transfer or assign this Agreement with the Executive’s prior written
      consent (which consent shall be deemed given if the Executive consented to
      the
      underlying transaction).

     

    12. Miscellaneous.

     

    12.1 Applicable
      Law, Forum and Jurisdiction.  The
      corporate law of the State of Delaware will govern all questions concerning
      the
      relative rights of the Company and its stockholders, and all questions
      concerning the construction, validity and interpretation of this Agreement
      shall
      be governed by and construed in accordance with the internal laws of the State
      of Delaware.  The parties agree that all actions or proceedings
      arising in connection with this Agreement shall be conducted in the State of
      Delaware and each party agrees to submit to the jurisdiction of the state and
      federal courts of the State of Delaware for actions arising out of this
      Agreement.

     

    12.2 Legal
      Fees.  The
      Company shall pay the reasonable legal fees (based on actual time charges and
      disbursements of counsel) incurred by the Executive in negotiating and entering
      into this Agreement, up to a maximum of Twenty-Five Thousand Dollars
      ($25,000).

     

    12.3 Amendments/Waiver.  This
      Agreement may not be amended or modified other than by a written agreement
      executed by the parties hereto or their respective successors and legal
      representatives.  No waiver by any party to this Agreement of any
      breach of any term, provision or condition of this Agreement by the other party
      shall be deemed a waiver of a similar or dissimilar term, provision or condition
      at the same time, or any prior or subsequent time.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    12.4 Notices.  All
      notices, waivers and other communications hereunder shall be in writing and
      shall be given by hand-delivery to the other party, by facsimile (with
      appropriate confirmation of transmission), by reputable overnight courier,
      or by
      registered or certified mail, return receipt requested, postage prepaid, and
      shall be deemed delivered when actually delivered by hand, upon receipt of
      confirmation of facsimile transmission, three (3) days after mailing, or one
      day
      after dispatch by overnight courier, addressed as follows:

     

    If
      to the Executive:

     

    Mr.
      Alfred C. Liggins

    [at
      the last known address on file with the Company]

     

    If
      to the Company:

     

    Radio
      One, Inc.

    5900
      Princess Garden Parkway, 7th
      Floor

    Lanham,
      MD 20706

    Attention:
              General Counsel

    Facsimile:         301-306-9638

     

    or
      to such other address as either party shall have furnished to the other in
      writing in accordance herewith.

     

    12.5 Withholding.  Notwithstanding
      anything else to the contrary herein, the Company may withhold from any amounts
      payable under this Agreement such taxes as shall be required to be withheld
      pursuant to any applicable law or regulation.  Where amounts are
      payable to the Executive pursuant to this Agreement both in cash and in a form
      other than cash, the Company may, at its option and upon prior notice to the
      Executive, withhold from such cash payments, or withhold from such payments
      in a
      form other than cash, or withhold from both.

     

    12.6 Severability.  If
      any provision of this Agreement is held to be illegal, invalid or unenforceable
      under any present or future law, and if the rights or obligations of any party
      hereto under this Agreement will not be materially and adversely affected
      thereby: (a) such provision will be fully severable; (b) this Agreement will
      be
      construed and enforced as if such illegal, invalid or unenforceable provision
      had never comprised a part hereof; (c) the remaining provisions of this
      Agreement will remain in full force and effect and will not be affected by
      the
      illegal, invalid or unenforceable provision or by its severance herefrom; and
      (d) in lieu of such illegal, invalid or unenforceable provision, there will
      be
      added automatically as a part of this Agreement a legal, valid and enforceable
      provision as similar in terms to such illegal, invalid or unenforceable
      provision as shall be agreed upon by the Company and the Executive.

     

    12.7 Captions;
      Section References.  The
      captions of this Agreement are not part of the provisions hereof and shall
      have
      no force or effect.  All references to sections of statutes,
      regulations or rules shall be deemed to be references to any successor
      sections.

     

    12.8 No
      Company Setoff.  The
      Company’s
      obligation to pay the Executive the amounts provided and to make the
      arrangements provided hereunder shall not be subject to setoff, counterclaim,
      or
      recoupment of amounts owed by the Executive to the Company or its
      Affiliates.

     

    12.9 Entire
      Agreement.  This
      Agreement contains the entire agreement between the parties concerning the
      subject matter hereof and supersedes all prior agreements, understandings,
      discussions, negotiations and undertakings, whether written or oral, between
      the
      parties with respect thereto.

     

    12.10 Counterparts.  This
      Agreement may be executed in separate counterparts, each of which is deemed
      to
      be an original and all of which taken together constitute one and the same
      agreement.

     

    12.11 Representation.  The
      Executive represents and warrants that the performance of the Executive’s duties
      and obligations under this Agreement will not violate any agreement between
      the
      Executive and any other Person.

     

    12.12 Further
      Assurances.  The
      parties shall, with reasonable diligence, do all things and provide all
      reasonable assurances as may be required to complete the transactions
      contemplated by this Agreement, and each party shall provide such further
      documents or instructions required by any other party as may be reasonably
      necessary or desirable to give effect to this Agreement and carry out its
      provisions.

     

    12.13 Survivorship.  The
      respective rights and obligations of the parties under this Agreement shall
      survive any termination of this Agreement or the Executive’s employment
      hereunder for any reason to the extent necessary for the intended preservation
      of such rights and obligations.

     

    [END
      OF PAGE]

    [SIGNATURE
      PAGE FOLLOWS]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Executive has hereunto set his hand, and the Company has
      caused this Employment Agreement to be executed in its name and on its behalf
      by
      its authorized representative, all as of the day and year first above
      written.

     

    RADIO
      ONE, INC.,

    a
      Delaware corporation

     

    

    By:    /s/ 
Peter
      D.
      Thompson           

     

    Name:
      Peter D. Thompson

    Title:
      Chief Financial
      Officer                      

    

    

    EXECUTIVE:

     

     

                                                                                     /s/ 
        Alfred C. Lggins
      III         

                                                                                         Alfred
      C. Liggins III

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