Document:

Exhibit 10.2

 

HEARST-ARGYLE TELEVISION, INC.

888
Seventh Avenue

New
York, NY  10106

 

 

	
   

  	
  As of January 1, 2006

  

 

 

Mr. Terry Mackin

[ADDRESS
ON FILE]

 

Dear Terry:

 

This
letter constitutes all of the terms of the Employment Agreement between you and
Hearst-Argyle Television, Inc. (“Hearst-Argyle”).  It is subject to the approval of the Board of
Directors of Hearst-Argyle.  The terms
are as follows:

 

	
  1.

  	
   

  	
  Legal Name of Employee:

  	
   

  	
  Terry Mackin

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  Mailing Address of Employee:

  	
   

  	
   

  	
  [ADDRESS ON FILE]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  Title of Position; Duties:

  	
   

  	
  Executive Vice President.

  

 

You
agree to report to and carry out the duties assigned to you by the CEO or COO
of Hearst-Argyle.  Hearst-Argyle has the
right to assign you to other duties consistent with those of other executives
of your level.

 

4.             Length of Employment.  The
term of this Agreement will start on January 1, 2006 and continue through
December 31, 2007 (the “Term”).

 

5.             Salary.  You
will receive a base salary for all services to Hearst-Argyle as follows:

 

a)             $705,000 for the period from January 1, 2006
through December 31, 2006; and

 

b)            $730,000 for the period from January 1, 2007
through December 31, 2007.

 

The
salary will be paid according to Hearst-Argyle’s payroll practices, but not
less frequently than twice a month.  You
acknowledge that you are not entitled to overtime pay.

 

In
addition it is understood that you are eligible to receive a bonus up to a
maximum of 75% of your base salary.  The
criteria for the bonus will be set by the Compensation Committee of the Board
of Directors of Hearst-Argyle, at its sole discretion.

 

 

The
bonus is payable only for as long as you work for Hearst-Argyle, and will be
payable only at the end of a complete bonus cycle and is not proratable, except
in the event of your death, when it will be proratable.

 

In
determining the amount of your bonus, the books and records of Hearst-Argyle
are absolute and final and not open to dispute by you.  Hearst-Argyle will pay any bonus due you by
March 31 of the year following the year for which the bonus is applicable.

 

6.             Exclusive Services.  You
agree that you will work only for Hearst-Argyle, and will not render services
or give business advice, paid or otherwise, to anyone else, without getting
Hearst-Argyle’s written approval. 
However, you may participate as a member of the board of directors of
other organizations and in charitable and community organizations, but only if
such activities do not conflict or interfere with your work for Hearst-Argyle,
and if such work is approved in advance by Hearst-Argyle, which approval will
not be unreasonably withheld.  You
acknowledge that your services will be unique, special and original and will be
financially and competitively valuable to Hearst-Argyle, and that your
violation of this paragraph will cause Hearst-Argyle irreparable harm for which
money damages alone would not adequately compensate Hearst-Argyle.  Accordingly, you acknowledge that if you
violate this paragraph, Hearst-Argyle has the right to apply for and obtain
injunctive relief to stop such violation (without the posting of any bond, and
you hereby waive any bond-posting requirements in connection with injunctive
relief), in addition to any other appropriate rights and remedies it might
lawfully have.

 

7.             No Conflicts.  You
agree that there is no reason why you cannot make this Agreement with
Hearst-Argyle, including, but not limited to, having a contract, written or
otherwise, with another employer.

 

8.             Termination of Employment.

 

(a)
          Hearst-Argyle has the right to end this Agreement:

 

i)              Upon your death; or

 

ii)             For cause, which shall mean (A) indictment
for a felony, (B) failure to carry out, or neglect or misconduct in the
performance of, your duties hereunder or a breach of this Agreement; (C)
willful failure to comply with applicable laws with respect to

 

 

the conduct of Hearst-Argyle’s business, (D) theft, fraud or
embezzlement resulting in gain or personal enrichment, directly or indirectly,
to you at Hearst-Argyle’s expense, (E) addiction to an illegal drug, (F)
conduct or involvement in a situation that brings, or may bring, you into
public disrespect, tends to offend the community or any group thereof, or
embarrasses or reflects unfavorably on Hearst-Argyle’s reputation, or (G)
willful failure to comply with the reasonable directions of the Board of
Directors of Hearst-Argyle; or

 

iii)            Without cause pursuant to Paragraph 8(b)
below.

 

(b)           Within 60 days of a Change in Control (as
defined below) this Agreement may be terminated (i) by Hearst-Argyle or its
successor without cause or (ii) by you (or, notwithstanding Paragraph 8(a)(i),
by your legal representative within such 60-day period, if you die while still
employed), provided that, in the case of either clauses (i) or (ii) of this
Paragraph 8(b), you or your legal representative execute and deliver a general
release in favor of Hearst-Argyle in the form reasonably required by
Hearst-Argyle, and such release has become irrevocable, and if such termination
occurs, then you (or your estate, in the case of your death) will receive the
payments and benefits under this Agreement for the remainder of the Term as if
no termination had occurred; it being expressly acknowledged and agreed that,
with respect to bonuses, and in lieu of the bonuses contemplated by the third
paragraph of Paragraph 5, you (or your estate, in the case of your death) shall
be entitled to receive (at the times that would have applied absent
termination) (x) any accrued but unpaid bonus, and (y) any future unpaid
bonuses that otherwise would have been payable during the Term. Notwithstanding
the foregoing, if you breach Paragraphs 10 or 11, Hearst-Argyle’s obligations
under this Paragraph 8(b) shall immediately cease, and you (and your estate, in
the case of your death) shall have no further rights under this Agreement.  For purposes of this Agreement, a Change in
Control shall be deemed to occur if, and only if, Hearst-Argyle ceases to be
controlled by or under common control with The Hearst Corporation or its
affiliates.

 

9.             Payment for Plugs.  You
acknowledge that you are familiar with Sections 317 and 508 of the
Communications Act of 1934 and are aware that it is illegal without full
disclosure to promote products

 

 

or services in which you
have a financial interest.  You agree not
to participate in any such promotion under any circumstances and understand
that to do so is a violation of law as well as a cause for termination.  Also, you agree that you will not become
involved in any financial situation which might compromise or cause a conflict
with your obligations under this paragraph or this Agreement without first
talking with Hearst-Argyle about your intentions and obtaining Hearst-Argyle’s
written consent.

 

10.           Confidentiality.  You
agree that while employed by Hearst-Argyle and after this Agreement is terminated
or expires, you will not use or divulge or in any way distribute to any person
or entity, including a future employer, any confidential information of any
nature relating to Hearst-Argyle’s business. 
You will surrender to Hearst-Argyle at the end of your employment all
its property in your possession.  If you
breach this paragraph, Hearst-Argyle has the right to apply for and obtain
injunctive relief to stop such a violation, in addition to its other legal remedies,
as outlined in Paragraph 6.

 

You
agree to keep the terms of this Agreement confidential from everybody except
your professional advisors and family.

 

11.           Non-Solicitation; Non-Hire.  You
agree that for two (2) years after the expiration or termination of this
Agreement, you will not hire, solicit, aid or suggest to any (i) employee of
Hearst-Argyle, its subsidiaries or affiliates, (ii) independent contractor or
other service provider or (iii) any customer, agency or advertiser of
Hearst-Argyle, its subsidiaries or affiliates to terminate such relationship or
to stop doing business with Hearst-Argyle, its subsidiaries or affiliates.

 

If
you violate this provision, Hearst-Argyle will have the same right to
injunctive relief as outlined in Paragraph 6, as well as any other remedies it
may have.  If any court of competent
jurisdiction finds any part of this paragraph unenforceable as to its duration,
scope or geographic area, it shall be deemed amended to conform to the scope
that would permit it to be enforced.

 

12.           Officer; Director.   
Upon request, you agree that you will serve as an officer or director,
in addition to your present position, of Hearst-Argyle or any affiliated
entity, without additional pay.

 

13.           Continuation of Agreement.  This
Agreement and your employment shall terminate upon the expiration of the Term
(unless terminated earlier pursuant to Paragraph 8 hereof), provided that if
Hearst-Argyle

 

 

gives you written notice of
extension then this Agreement shall continue on a month-to-month basis until
the earlier of (i) the commencement of a renewal or extension agreement between
you and Hearst-Argyle, or (ii) termination of this Agreement by either party on
fifteen days written notice to the other.

 

14.           Assignment of Agreement. 
Hearst-Argyle has the right to transfer this Agreement to a successor,
to a purchaser of substantially all of its assets or its business or to any
parent, subsidiary, or affiliated corporation or entity and you will be
obligated to carry out the terms of this Agreement for that new owner or
transferee.  You have no right to assign
this Agreement, and any attempt to do so is null and void.

 

15.           State Law.  This
Agreement will be interpreted under the laws of the State of New York, without
regard to conflicts or choice of law rules.

 

16.           No Other Agreements.  This
Agreement is the only agreement between you and Hearst-Argyle.  It supersedes any other agreements,
amendments or understandings you and Hearst-Argyle may have had.  This Agreement may be amended only in a
written document signed by both parties.

 

17.           Approvals.  In
any situation requiring the approval of Hearst-Argyle, such approval must be
given by either the President and Chief Executive Officer or the Chief
Operating Officer of Hearst-Argyle Television, Inc.

 

18.           Dispute Resolution. 
Hearst-Argyle and Employee agree that any claim which either party may
have against the other under local, state or federal law including, but not
limited to, matters of discrimination, matters arising out of the termination
or alleged breach of this Agreement or the terms, conditions or termination of
employment, will be submitted to mediation and, if mediation is unsuccessful,
to final and binding arbitration in accordance with Hearst-Argyle’s Dispute
Settlement Procedure (“Procedure”), of which Employee has received a copy.
During the pendency of any claim under this Procedure, Hearst-Argyle and
Employee agree to make no statement orally or in writing regarding the
existence of the claim or the facts forming the basis of such claim, or any
statement orally or in writing which could impair or disparage the personal or
business reputation of Hearst-Argyle or Employee.  The Procedure is hereby incorporated by
reference into this Agreement.

 

 

19.           Correspondence.  All
correspondence between you and Hearst-Argyle will be written and sent by
certified mail, return receipt requested, or by personal delivery or courier,
to the following addresses:

 

	
  If to Hearst-Argyle:

  	
   

  	
  Hearst-Argyle
  Television, Inc.

  
	
   

  	
   

  	
  888
  Seventh Avenue

  
	
   

  	
   

  	
  27th
  Floor

  
	
   

  	
   

  	
  New
  York, New York 10106

  
	
   

  	
   

  	
  Attn:

  	
  David
  Barrett

  
	
   

  	
   

  	
   

  	
  President
  and CEO

  
	
   

  	
   

  	
   

  
	
  with
  a copy to:

  	
   

  	
  General
  Counsel

  
	
   

  	
   

  	
  Hearst-Argyle
  Television, Inc.

  
	
   

  	
   

  	
  888
  Seventh Avenue

  
	
   

  	
   

  	
  27th Floor

  
	
   

  	
   

  	
  New
  York, New York 10106

  
	
   

  	
   

  	
   

  
	
  If
  to Employee:

  	
   

  	
  Mr.
  Terry Mackin

  
	
   

  	
   

  	
  [ADDRESS
  ON FILE]

  

 

Either
party may change its address in writing sent to the above addresses.

 

20.           Severability.  If a
court decides that any part of this Agreement is unenforceable, the rest of the
Agreement will survive.

 

 

21.           Originals of Agreement.   This Agreement may be signed in any number of
counterparts, each of which shall be considered an original.

 

 

	
   

  	
  HEARST-ARGYLE TELEVISION,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ David J. Barrett

  	
   

  
	
   

  	
   

  	
  David J. Barrett

  
	
   

  	
   

  	
  President and Chief
  Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Terry Mackin

  	
   

  
	
   

  	
   

  	
  Terry MackinExhibit
10.1

 

2006 Base Salaries for Named Executive
Officers

 

	
  Name

  	
   

  	
  Title

  	
   

  	
  Salary

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Michael E.
  Hart

  	
   

  	
  President,
  Chief Executive Officer and Chief Financial Officer

  	
   

  	
  $

  	
  362,457

  	
   

  
	
  David A.
  DeLong

  	
   

  	
  Vice
  President, Marketing and Sales

  	
   

  	
  $

  	
  263,025

  	
   

  
	
  Marc H.
  Graboyes

  	
   

  	
  Vice
  President, General Counsel

  	
   

  	
  $

  	
  236,543

  	
   

  
	
  Markus F.
  Herzig

  	
   

  	
  Vice
  President, Regulatory Affairs

  	
   

  	
  $

  	
  236,550

  	
   

  
	
  Douglas G.
  Johnson, Ph.D.

  	
   

  	
  Vice
  President, Manufacturing

  	
   

  	
  $

  	
  204,420

  	
   

  
	
  Michael E.
  Saunders

  	
   

  	
  Vice
  President, Clinical Development

  	
   

  	
  $

  	
  267,355

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