Document:

EX-10.3

 Exhibit 10.3 

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EXECUTIVE EMPLOYMENT AGREEMENT (“Agreement”) dated as of September 20, 2021, is made by and between Beasley Broadcast
Group, Inc., a Delaware limited liability company (together with any successor thereto, the “Company”) and Brian E. Beasley (the “Executive”). 

WHEREAS, the Company and the Executive have entered into an Executive Employment Agreement, dated June 8, 2017 (as amended, the
“Prior Employment Agreement”) and the Executive has been and is now employed by the Company; 
 WHEREAS, the Company desires to
continue to assure itself of the services of the Executive and to continue to employ the Executive, and the Executive desires to continue to commit himself to serve the Company and to continue to be employed by the Company, on the terms herein
provided; and 
 WHEREAS, the Company and the Executive desire to terminate the Prior Employment Agreement and replace and supersede the
Prior Employment Agreement in its entirety with this Agreement; 
 NOW, THEREFORE, in consideration of the foregoing and of the respective
covenants and agreements set forth below the parties hereto agree as follows: 
 1.    Certain Definitions. 

(a)    “Annual Base Salary” shall have the meaning set forth in Section 4. 

(b)    “Board” shall mean the Board of Directors of the Company. 

(c)    “Cause” for the Company to terminate the Executive’s employment hereunder shall exist upon
the Executive’s: 
 (i)    fraud, theft, embezzlement, proven gross negligence in connection with Executive
performing his duties and responsibilities hereunder. 
 (ii)    conviction of a felony or a crime involving moral
turpitude; or 
 (iii)    breach of any material provision of this Agreement, including without limitation,
Section 7 and Section 8, after notice given to Executive within ninety (90) days of Company first having direct knowledge of the occurrence of such material breach by Executive, and, to the extent curable, thirty (30) days
opportunity for cure. 
 (d)    “Change in Control” shall mean any transaction or series of related
transactions the consummation of which results in Executive (or Executive’s Immediate Family) holding or having a beneficial interest in shares of the Company’s capital stock having less than fifty percent (50%) of the voting power of the
Company’s outstanding capital stock; provided that any such transaction is a bona fide transaction between the Company and a third party (or parties) unrelated to the Executive, as determined by the Board in good faith. For purposes of this
Agreement, “Immediate Family” shall mean any person, trust, or estate who qualifies as a “Class B Permitted Transferee” as set forth in the Company’s Articles of Incorporation. 

 (e)    “Company” shall have the meaning set forth in
the preamble hereto. 
 (f)    “Compensation Committee” means the compensation committee of the Board.

 (g)    “Date of Termination” shall mean if the Executive’s employment is terminated
(i) due to his death, the date of death as set forth in Section 5(a)(i); (ii) due to his Disability as set forth in Section 5(a)(ii), 30 days after receipt of the written notice as set forth in Section 5(b), (iii) pursuant to
Section 5(a)(iii), or Section 5(a)(iv), the date of termination set forth in the written notice as set forth in Section 5(b), subject to the notice and cure provision set forth in Section 1(c)(iii), if applicable,
(iv) pursuant to Section 5(a)(v), the date of termination set forth in the written notice as set forth in Section 5(b), subject to the applicable notice and cure period set forth in Section 1(k) and (v) pursuant to
Section 5(a)(vi), 90 days after receipt of the written notice set forth in Section 5(b). 

(h)    “Disability” shall mean the absence of the Executive from the Executive’s duties to the
Company on a full-time basis for a period of 180 consecutive days as a result of incapacity due to mental or physical illness. 

(i)    “Effective Date” of this Agreement shall mean July 1, 2021. 

(j)    “Executive” shall have the meaning set forth in the preamble hereto. 

(k)    “Good Reason” shall mean the occurrence of any of the following events without the prior written
consent of the Executive, provided that the Executive provides written notice to the Company of the occurrence of such event within ninety (90) days after Executive first has direct knowledge of the event, which written notice shall include a
description of the existence of the condition underlying such event, and the Company does not remedy such event within thirty (30) days of receipt of such written notice from the Executive: 

(i)    Company fails to make payment or provide benefit(s) to the Executive hereunder; 

(ii)    a material diminution in the Executive’s Annual Base Salary; 

(iii)    a material diminution in the Executive’s authority, duties or responsibilities; 

(iv)    a material diminution in the budget over which the Executive retains authority; 

(v)    a material change in the geographic location at which the Executive must perform services under this Agreement;

 (vi)    any other action or inaction that constitutes a material breach by the Company of this Agreement; or 

  
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 (vii)    a Change of Control. 

(l)    “Notice of Termination” shall have the meaning set forth in Section 5(b). 

(m)    “Restricted Stock Unit” shall have the meaning set forth in the Beasley Broadcast Group, Inc. 2007
Equity Incentive Award Plan. 
 (n)    “Term” shall have the meaning set forth in Section 2(b).

 2.    Employment. 

(a)    Initial Term. The Company shall continue to employ the Executive and the Executive shall continue in the
employ of the Company, for the period set forth in this Section 2, in the position set forth in Section 3 and upon the other terms and conditions herein provided. The initial term of employment under this Agreement (the “Initial
Term”) shall be for the period beginning on the Effective Date of this Agreement and shall expire on the third anniversary thereof, unless earlier terminated as provided in Section 5. 

(b)    Extension. The employment term hereunder shall be extended for successive
one-year periods (“Extension Terms” and, collectively with the Initial Term, the “Term”) upon the mutual agreement of the parties in writing. 

3.    Position and Duties. 

(a)    Generally. The Executive shall serve as the Chief Operating Officer of the Company. Subject to reasonable
modification from time to time by the Board or by the Chief Executive Officer, Executive shall report to the Chief Executive Officer and Executive shall be responsible for such duties normally associated with such position. Executive shall
supervise, control and have responsibility for the daily operating activities of certain radio stations owned by the Company, as designated by the Chief Executive Officer, including without limitation supervision of station management, personnel
matters, short- and long-term strategic decision making, station budgets, management of third party relationships, and disbursements. Executive will, on a full-time basis, apply all of his skill and experience to the performance of his duties in
such employment and will not, without the prior consent of the Board, devote substantial amounts of time to outside business activities. Notwithstanding the foregoing, Executive may devote a reasonable amount of his time to civic, community,
charitable or passive investment activities. 
 (b)    Subsidiaries. If elected or appointed thereto, and only
for the duration of such elected term or appointment, the Executive shall serve as a director of the Company and any of its subsidiaries and/or in one or more executive offices of any of such subsidiaries, provided that the Executive is indemnified
for serving in any and all such capacities as provided for in the Company By-laws or otherwise. 

4.    Compensation and Related Matters. 

(a)    Annual Base Salary. During the Initial Term, the Executive shall receive (i) a base salary (such base
salary, as in effect from time to time, the “Base Rate of Pay”) at a rate of 

  
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$600,000 per annum (as adjusted below); and (ii) an amount equal to the amount payable by the Executive for coverage under the benefit plans referred to in Section 4(d)(ii) (such amount
the “Gross Up Amount”), provided that the Gross Up Amount is paid to the Executive no later than March 15th of the year following the calendar year in which it is earned; and (iii) an additional amount equal to taxes payable by
the Executive as a result of the receipt by the Executive of the Gross Up Amount, provided that such additional amount is paid to the Executive no later than the end of the calendar year following the calendar year in which such taxes are paid by
the Executive (the “Tax Reimbursement”) (such salary, collectively, the “Annual Base Salary”). The Base Rate of Pay will equal $650,000 per annum for the second 12 month period of the Initial Term and $700,000 per annum for the
third 12 month period of the Initial Term. After the Initial Term, the Executive’s Annual Base Salary shall be (i) $700,000 per annum or a revised Base Rate of Pay determined by the Board or its authorized committee with a view toward
consideration of merit increases, market rates of pay for similarly situated executives and such other factors that the Board or its authorized committee determines to be appropriate, (ii) the Gross Up Amount and (iii) the Tax
Reimbursement. The Annual Base Salary shall be paid in arrears in substantially equal installments at monthly or more frequent intervals, in accordance with the normal payroll practices of the Company. The Annual Base Salary shall be effective
retroactively to the Effective Date and the amounts that the Executive would have received under this Agreement had it been entered into on the Effective Date that are in excess of amounts received by the Executive since the Effective Date shall be
paid to the Executive at the time of the first salary payment to the Executive after the date hereof. 

(b)    Bonus. Executive shall be eligible to receive an annual performance bonus (the “Annual Bonus”) to
be determined by the Compensation Committee of the Board and based on criteria as set forth in the “Performance Incentive Plan” dated January 1, 2012, or any successor Performance Incentive Plan approved by the Compensation Committee,
such Annual Bonus to be established by the Compensation Committee in its sole discretion. The Annual Bonus shall be targeted at 75% of Executive’s Base Rate of Pay. The Annual Bonus shall be paid in no event later than March 15th of the
calendar year following the calendar year in which such bonus is earned. 

(c)    Sign-On Bonus. Executive shall be entitled to receive a one-time sign-on bonus equal to $150,000, less applicable tax withholdings, payable in cash as soon as practicable following the date hereof. 

(d)    Restricted Stock Units Grant.    As soon as reasonably practicable following the date
hereof, and subject to approval by the Compensation Committee, Executive shall be granted 105,000 Restricted Stock Units under the Beasley Broadcast Group, Inc. 2007 Equity Incentive Award Plan (the “Plan”). Provided that the Executive
remains continuously employed by the Company from the date of grant through the applicable vesting date, one third of the Restricted Stock Units shall vest on the first anniversary of the Effective Date, one third of the Restricted Stock Units shall
vest on the second anniversary of the Effective Date and one third of the Restricted Stock Units shall vest on the third anniversary of the Effective Date. The Restricted Stock Units shall contain such other terms (consistent with the Plan and the
Company’s customary form of Restricted Stock Unit agreement and not inconsistent with this Agreement) as the Compensation Committee determines. 

  
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 (e)    Benefits. (i) The Executive shall be eligible to
participate in the Plan and such other equity based or incentive compensation plans or programs as may be adopted by the Company from time to time (collectively, the “Equity Plan”) for its senior executives, at such level and in such
amounts as may be determined by the Compensation Committee in its sole discretion, subject to the terms and conditions of the Equity Plan and any applicable award agreements. (ii) The Executive shall be entitled to participate in the other
employee benefit plans, programs and arrangements of the Company in effect during the Term (including, without limitation, at the time of execution of this Agreement, health insurance, dental insurance, vision insurance, long-term disability
coverage, short term disability, cellular phone reimbursement, and vacation for Executive and his eligible dependents) now (or, to the extent determined by the Compensation Committee, hereafter) in effect which are applicable to the senior officers
of the Company (the “Eligible Benefit Plans”), subject to and on a basis consistent with the terms, conditions and overall administration thereof. The Executive agrees that nothing contained in this Agreement shall prevent the Company from
terminating or modifying any such Eligible Benefit Plans in whole or in part at any time. In addition, the Executive shall receive a monthly car allowance of $1,000. 

(f)    Expenses. The Company shall reimburse the Executive for all reasonable travel and other business expenses
incurred by him in the performance of his duties to the Company, in accordance with the Company’s documentation and other policies with respect thereto. 

5.    Termination. 

The Executive’s employment hereunder and the Term may be terminated by the Company or the Executive, as applicable, without any breach of
this Agreement only under the following circumstances: 
 (a)    Circumstances. 

(i)    Death. The Executive’s employment hereunder shall terminate upon his death. In the event of the death of
the Executive during the Term of this Agreement, Company shall pay to Executive or Executive’s widow, if surviving, otherwise to his estate or legal representative, the Executive’s prorated Annual Base Salary and all vested benefits
referenced herein through the Date of Termination. 
 (ii)    Disability. If the Company determines in good faith
that the Executive has incurred a Disability, the Company shall give the Executive a minimum of thirty (30) days’ written notice of its intention to terminate the Executive’s employment after the 180 day period referenced in
Section 1(h) (the “Disability Notice”). In such event, the Executive’s employment with the Company shall terminate effective on the 30th day after receipt of the Disability Notice, provided that within the 30 days after such
receipt, the Executive either has not returned to full-time performance of his duties or requested a return to performance of his duties with a reasonable accommodation for his Disability. The Executive shall receive the prorated Annual Base Salary
and all vested benefits referenced herein through the Date of Termination. 

  
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 (iii)    Termination for Cause. The Company may terminate the
Executive’s employment hereunder for Cause. The Executive shall receive his prorated Annual Base Salary and all vested benefits referenced herein through the Date of Termination. 

(iv)    Termination without Cause. The Company may terminate the Executive’s employment without Cause. The
Executive shall receive his prorated Annual Base Salary and all vested benefits referenced herein through the Date of Termination. 

(v)    Resignation for Good Reason. The Executive may terminate his employment for Good Reason. The Executive shall
receive his prorated Annual Base Salary and all vested benefits referenced herein through the Date of Termination. 

(vi)    Resignation without Good Reason. The Executive may resign his employment without Good Reason upon 90 days
written notice to the Company. The Executive shall receive his prorated Annual Base Salary and all vested benefits referenced herein through the Date of Termination. 

(b)    Notice of Termination. Any termination of the Executive’s employment by the Company or by the Executive
under this Section 5 (other than termination pursuant to Section 5(a)(i)) shall be communicated by a written notice to the other party hereto indicating the specific termination provision in this Agreement relied upon, setting 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 specifying a Date of Termination (a “Notice of Termination”) which, except in
the case of termination for Cause or resignation for Good Reason, shall be at least fourteen days following the date of such notice or thirty days if termination is pursuant to Section 5(a)(ii) and not more than forty-five days, except that in
the case of a resignation without Good Reason shall be at least ninety (90) days following the date of such notice. 

6.    Severance Payments. 

(a)    Entitlement to Severance Payments. Subject to Section 6(b), if the Executive’s employment
terminates due to Executive’s death (pursuant to Section 5(a)(i)), pursuant to a termination without Cause (pursuant to Section 5(a)(iv)), due to Disability (pursuant to Section 5(a)(ii)) or resignation for Good Reason (pursuant
to Section 5(a)(v)), then provided that the Executive’s termination of employment constitutes a “separation from service” as defined under Treas. Reg. Section 1.409A-1(h): 

(i)    The Company shall pay/distribute the following severance payment (“Severance Payment”) to the Executive,
or in the event of Executive’s death to Executive’s widow, if surviving, otherwise to his estate or legal representative: (a) an amount equal to his then Annual Base Salary for the remainder of the Initial Term or one year, whichever
is greater (the “Severance Period”), payable over the Severance Period at the same time and in the same manner as such Annual Base Salary would have been paid if the Executive had remained in active employment until the end of the
Severance Period in accordance with the Company’s normal payroll practices as in effect on the date of termination of the Executive’s employment and (b) an amount equal to the highest Annual Bonus paid to Executive during the
preceding 

  
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three (3) year period, or the Executive’s Annual Base Salary, whichever is greater, payable in a single installment within sixty (60) days of the Date of Termination.
Notwithstanding the foregoing, if the Executive’s employment termination occurs (x) during any period when the Company is party to a binding agreement obligating the Company to enter into a transaction or series of transactions that, when
consummated, will constitute a Change in Control or (y) on or within two years following the date of a Change in Control, then the Severance Payment shall be the greater of the amount of the Severance Payment determined in accordance with the
immediately preceding sentence or an amount equal to the sum of (A) two (2) times the Base Rate of Pay as in effect immediately prior to the Date of Termination (disregarding any decrease in the Base Rate of Pay that provides a basis for
Executive’s resignation for Good Reason) and (B) two (2) times the highest Annual Bonus paid to Executive during the preceding three (3) year period, which amount shall be paid in a single installment on the sixtieth (60th) day
following the Date of Termination to the extent such payment does not result in the imposition of an excise tax under Section 409A of the Code and shall otherwise be paid as provided in this first sentence of this Section 6(a)(i). 

(ii)    Executive shall be entitled to continue coverage under the Company’s group health plan as required by
Section 4980B of the Code (“COBRA”) and the Company’s group life plan for the eighteen month period commencing on the Date of Termination. The Company shall pay Executive’s (and his eligible dependents) premiums under COBRA
(except to the extent it results in a duplication of payments made to Executive under Section 6(a)(i) of this Agreement) until the earlier of (A) eighteen months following the Date of Termination or (B) the date the Executive becomes
eligible for coverage under another group health plan (the “COBRA Payment Period”). Notwithstanding the foregoing, if at any time the Company determines that its payment of COBRA premiums on the Executive’s behalf would result in a
violation of applicable law (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of paying COBRA premiums pursuant to this
Section 6(a)(ii), the Company shall pay the Executive on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premium for such month, subject to applicable tax withholding (such
amount, the “Special Severance Payment”), such Special Severance Payment to be made without regard to the Executive’s payment of COBRA premiums. Nothing in this Agreement shall deprive the Executive of his rights under COBRA or
ERISA for benefits under plans and policies arising under his employment by the Company. 
 (iii)    Notwithstanding the
terms or conditions of the Equity Plan or any stock option or other award agreement between the Company and the Executive, all granted and outstanding stock options and other stock-based awards, including but not limited to the Restricted Stock
Units, shall become fully vested and, to the extent applicable, exercisable as of the Date of Termination, and, to the extent exercisable, shall remain exercisable until the earlier to occur of (A) the expiration of such stock option or other
award pursuant to its terms or (B) the expiration of 90 days following the Date of Termination. 

(b)    Release. Notwithstanding anything to the contrary in this Section 6, the Executive shall not be
entitled to any severance payments or benefits under Section 6(a), unless the Executive, or in the case of Executive’s death, the Executive’s widow, if surviving, otherwise his estate executor or legal representative (or,
alternatively, whomever is entitled to the 

  
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severance payment set forth in Section 6(a)(i)), executes and does not revoke the release of claims in substantially the form attached hereto as Exhibit A (and such release becomes
effective and irrevocable) within thirty (30) days following the Date of Termination. Notwithstanding anything to the contrary in this Section 6, the payments due under Section 6(a)(i) shall be payable commencing on the Company’s
first payroll date occurring on or after the 30th day following the Date of Termination (the “First Payroll Date”), and any amounts that would otherwise have been paid pursuant to such Section 6(a)(i) prior to the First Payroll Date
shall be paid in a lump-sum on the First Payroll Date. To the extent that, in the event of Executive’s death, Florida law does not allow the Executive’s widow, if surviving, or his estate executor or
legal representative (or, alternatively, whomever is entitled to the severance payment set forth in Section 6(a)(i)) to execute the release of claims, then the individual authorized under Florida law to release claims on behalf of a deceased
individual, if any, shall execute the release of claims set forth above. If no person is authorized under Florida law, then this provision shall be waived. 

(c)    Survival. The expiration or termination of the Term shall not impair the rights or obligations of any party
hereto which shall have accrued hereunder prior to such expiration. 
 (d)    Mitigation of Damages. In no event
shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amount payable to the Executive under any of the provisions of this Agreement and such amounts shall not be reduced (except as provided in
Section 6(a)(ii)) whether or not the Executive obtains other employment. Neither the Executive nor the Company shall be liable to the other party for any damages in addition to the amounts payable under Section 6 arising out of the
termination of the Executive’s employment prior to the end of the Term (except as provided in Section 9). 

7.    Restrictive Covenants. 

(a)    Non-Competition. The “Term of
Non-Competition” shall be defined as the term beginning on the date hereof and continuing until the first anniversary of the Date of Termination; provided, however, that if the Executive’s employment
is terminated by the Company, other than for Cause, or terminated by Executive for Good Reason as set forth in Section 5(a)(v), the Term of Non-Competition shall expire upon the earlier of the first
anniversary of the Date of Termination or the date that the Executive waives his entitlement to any further payments under Section 6, or the Date of Termination if no payments are to be made under Section 6. During the Term of Non-Competition, the Executive shall not, without the prior written consent of the Board, directly or indirectly engage in, or have any equity interest in, or manage, be employed or engaged by or operate any person,
firm, corporation, partnership or business (whether as director, officer, employee, agent, representative, partner, security holder, consultant or otherwise) that engages in, any business which competes with any business of the Company or any entity
owned by it that is within 75 miles of any transmission site on which the Company or any entity owned by it operates a radio station at the Date of Termination, provided, however, that the Executive shall be permitted to acquire a stock interest in
such a corporation provided such stock is publicly traded and the stock so acquired is not more than five percent (5%) of the outstanding shares of such corporation. 

(b)    Construction of this Section. In the event the terms of this Section 7 shall be determined by any court
of competent jurisdiction to be unenforceable by reason of its extending 

  
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for too great a period of time or over too great a geographical area or by reason of its being too extensive in any other respect, it will be interpreted to extend only over the maximum period of
time for which it may be enforceable, and/or over the maximum geographical area as to which it may be enforceable and/or to the maximum extent in all other respects as to which it may be enforceable, all as determined by such court in such action.

 8.    Nondisclosure of Proprietary Information. 

(a)    Confidentiality. Except as required in the faithful performance of the Executive’s duties hereunder or
pursuant to subsection (c), the Executive shall, in perpetuity, maintain in confidence and shall not directly, indirectly or otherwise, use, disseminate, disclose or publish, or use for his benefit or the benefit of any person, firm,
corporation or other entity any confidential or proprietary information or trade secrets of or relating to the Company, including, without limitation, information with respect to the Company’s operations, processes, products, inventions,
business practices, finances, principals, vendors, suppliers, customers, potential customers, marketing methods, costs, prices, contractual relationships, regulatory status, compensation paid to employees or other terms of employment, or deliver to
any person, firm, corporation or other entity any document, record, notebook, computer program or similar repository of or containing any such confidential or proprietary information or trade secrets. The parties hereby stipulate and agree that as
between them the foregoing matters are important, material and confidential proprietary information and trade secrets and affect the successful conduct of the businesses of the Company (and any successor or assignee of the Company). 

(b)    Return of Materials. Upon termination of the Executive’s employment with Company for any reason and
upon the Company’s request, the Executive will promptly deliver to the Company all correspondence, drawings, manuals, letters, notes, notebooks, reports, programs, plans, proposals, financial documents, or any other documents concerning the
Company’s customers, business plans, marketing strategies, products or processes and/or which contain proprietary information or trade secrets. Executive shall keep his cellular phone and phone number. 

(c)    Response to Legal Process. The Executive may respond to a lawful and valid subpoena or other legal process
but shall give the Company the earliest possible notice thereof, and shall, as much in advance of the return date as possible, make available to the Company and its counsel the documents and other information sought and shall assist such counsel in
resisting or otherwise responding to such process. 
 (d)    Certain Exclusions. Notwithstanding anything in this
Agreement to the contrary, nothing in this Agreement shall prohibit the Executive from reporting possible violations of Federal law or regulation to any United States governmental agency or entity in accordance with the provisions of and rules
promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of State or Federal law or regulation (including the right to receive
an award for information provided to any such government agencies). Furthermore, in accordance with 18 U.S.C. § 1833, the Company hereby notifies the Executive that, notwithstanding anything to the contrary herein: (a) the Executive
shall not be in breach of this Agreement, and shall not be held criminally or civilly liable under any Federal or State trade secret law (i) for the disclosure of a 

  
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trade secret that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or
(ii) for the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; and (b) if the Executive files a lawsuit for retaliation by Company for
reporting a suspected violation of law, the Executive may disclose the trade secret to the Executive’s attorney, and may use the trade secret information in the court proceeding, if the Executive files any document containing the trade secret
under seal, and does not disclose the trade secret, except pursuant to court order. 
 9.    Injunctive Relief. 

It is recognized and acknowledged by the Executive that a breach of the covenants contained in Sections 7 and 8 will cause irreparable
damage to Company and its goodwill, the exact amount of which will be difficult or impossible to ascertain, and that the remedies at law for any such breach will be inadequate. Accordingly, the Executive agrees that in the event of a breach of any
of the covenants contained in Sections 7 and 8, in addition to any other remedy which may be available at law or in equity, the Company will be entitled to seek specific performance and injunctive relief. 

10.    Binding on Successors. 

This Agreement shall be binding upon and inure to the benefit of the Company, the Executive and their respective successors, assigns, personnel
and legal representatives, executors, administrators, heirs, distributees, devisees, and legatees, as applicable. The Company may assign its rights and obligations under this Agreement to any successor to all or substantially all of the business or
the assets of the Company. The Executive may not assign the Executive’s rights or obligations under this Agreement other than the Executive’s rights to payments hereunder, which may only be assigned by will or the operation of the laws of
descent and distribution. 
 11.    Governing Law. 

This Agreement shall be governed, construed, interpreted and enforced in accordance with the substantive laws of the State of Florida, without
reference to the principles of conflicts of law of the State of Florida or any other jurisdiction, and where applicable, the laws of the United States. Executive agrees that any claim arising out of or relating to this Agreement shall be brought
exclusively in the state or federal courts of competent jurisdiction for Collier County, Florida. Executive consents to the personal jurisdiction of such courts and thereby waives: (a) any objection to jurisdiction or venue; or (b) any
defense claiming lack of jurisdiction or improper venue, in any action brought in such courts. Executive further acknowledges that Employee is executing this Agreement in the State of Florida. 

12.    Validity. 

The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any
other provision of this Agreement, which shall remain in full force and effect. 

  
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 13.    Notices. 

Any notice, request, claim, demand, document and other communication hereunder to any party shall be effective upon receipt (or refusal of
receipt) and shall be in writing and delivered personally or sent by overnight courier service or certified or registered mail, postage prepaid, as follows: 

Beasley Broadcast Group, Inc. 

3033 Riviera Drive, Suite 200 

Naples, Florida 34103 
 Attn:
Chief Executive Officer 
 With a copy
to:                   Beasley Broadcast Group, Inc. 

3033 Riviera Drive, Suite 200 

Naples, Florida 34103 
 Attn:
General Counsel 
 If to the Executive, to his at the address set forth below under his signature; or at any other address as any party
shall have specified by notice in writing to the other parties. 
 14.    Counterparts. 

This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, but all of which together will
constitute one and the same Agreement. 
 15.    Entire Agreement. 

The terms of this Agreement are intended by the parties to be the final expression of their agreement with respect to the employment of the
Executive by the Company and may not be contradicted by evidence of any prior or contemporaneous agreement. The parties further intend that this Agreement shall constitute the complete and exclusive statement of its terms and that no extrinsic
evidence whatsoever may be introduced in any judicial, administrative, or other legal proceeding to vary the terms of this Agreement. The parties agree that the Prior Employment Agreement is hereby terminated, and this Agreement replaces and
supersedes the Prior Employment Agreement in its entirety. 
 16.    Amendments; Waivers. 

This Agreement may not be modified, amended, or terminated except by an instrument in writing, signed by the Executive and a duly authorized
officer of the Company. By an instrument in writing similarly executed, the Executive or the Company may waive compliance by the other party or parties with any provision of this Agreement that such other party was or is obligated to comply with or
perform, provided, however, that such waiver shall not operate as a waiver of, or estoppel with respect to, any other or subsequent failure. No failure to exercise and no delay in exercising any right, remedy, or power hereunder preclude any other
or further exercise of any other right, remedy, or power provided herein or by law or in equity. 

  
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 17.    No Inconsistent Actions. 

The parties hereto shall not voluntarily undertake or fail to undertake any action or course of action inconsistent with the provisions or
essential intent of this Agreement. Furthermore, it is the intent of the parties hereto to act in a fair and reasonable manner with respect to the interpretation and application of the provisions of this Agreement. 

18.    Arbitration. 

Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a
panel of three arbitrators in Collier County, Florida in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction; provided, however,
that the Company shall be entitled to seek a restraining order or injunction in any court of competent jurisdiction to prevent any continuation of any violation of the provisions of Sections 7 or 8 of this Agreement and the Executive hereby
consents that such restraining order or injunction may be granted without the necessity of the Company’s posting any bond. The fees and expense of the arbitrator shall be borne by the Company. The prevailing party in any action or arbitration
proceeding hereunder shall be entitled to recover its reasonable attorney’s fees and costs from the other party. 

19.    Claw-back. 

All compensation received by Executive shall be subject to the provisions of any claw-back policy implemented by the Company to comply with
applicable law, regulation or stock exchange rule, including, without limitation, any claw-back policy adopted to comply with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated
thereunder. 
 20.    Withholding. 

The Company shall be entitled to withhold from any amounts payable under this Agreement, any federal, state, local or foreign withholding or
other taxes or charges which the Company is required to withhold. 
 21.    Section 409A. 

Notwithstanding anything to the contrary in this Agreement, if at the time of the Executive’s separation from service with the Company,
the Executive is a “specified employee” as defined in Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), as determined by the Company in accordance with Section 409A of the Code, and the
deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such separation from service is necessary in order to prevent any accelerated or additional tax under Section 409A of the Code, then the Company
will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in the payments or benefits ultimately paid or provided to the Executive) until the date that is at least six (6) months following the
Executive’s separation from service with the Company (or the earliest date permitted under Section 409A of the Code), whereupon the Company will pay the Executive a 

  
 12 

 
lump-sum amount equal to the cumulative amounts that would have otherwise been previously paid to the Executive under this Agreement during the period in
which such payments or benefits were deferred. Thereafter, payments will resume in accordance with this Agreement. For purposes of Section 409A of the Code, the Executive’s right to receive any installment payments under this Agreement,
including each payment made after a “separation from service,” will be considered as a right to receive a series of separate payments. 

This Agreement is intended to be written, administered, interpreted and construed in a manner such that no payment or benefits provided under
the Agreement become subject to (a) the gross income inclusion set forth within Code Section 409A(a)(1)(A) or (b) the interest and additional tax set forth within Code Section 409A(a)(1)(B) (together, referred to herein as the
“Section 409A Penalties”), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of Section 409A Penalties. In no event shall the Company be required to provide a tax
gross-up payment to Executive with respect to Section 409A Penalties. 
 Notwithstanding
anything to the contrary in this Agreement, in-kind benefits and reimbursements provided under this Agreement during any calendar year shall not affect in-kind benefits
or reimbursements to be provided in any other calendar year, other than an arrangement providing for the reimbursement of medical expenses referred to in Section 105(b) of the Code, and are not subject to liquidation or exchange for another
benefit. Notwithstanding anything to the contrary in this Agreement, reimbursement requests must be timely submitted by the Executive and, if timely submitted, reimbursement payments shall be promptly made to the Executive following such submission,
but in no event later than December 31st of the calendar year following the calendar year in which the expense was incurred. In no event shall the Executive be entitled to any reimbursement payments after December 31st of the calendar year
following the calendar year in which the expense was incurred. This paragraph shall only apply to in-kind benefits and reimbursements that would result in taxable compensation income to the Executive. 

Additionally, in the event that following the date hereof the Company or the Executive reasonably determines that any compensation or benefits
payable under this Agreement may be subject to Section 409A of the Code, the Company and the Executive shall work together to adopt such amendments to this Agreement or adopt other policies or procedures (including amendments, policies and
procedures with retroactive effect), or take any other commercially reasonable actions necessary or appropriate to (x) exempt the compensation and benefits payable under this Agreement from Section 409A of the Code and/or preserve the
intended tax treatment of the compensation and benefits provided with respect to this Agreement or (y) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance. 

22.    Indemnification. 

Company hereby indemnifies, holds harmless and agrees to defend Executive from and against any and all losses, claims, demands, damages, costs,
expenses and liabilities including without limitation, reasonable attorneys’ fees and disbursements incurred in connection therewith as set forth in the By-laws of the Company. 

  
 13 

 23.    Survival. 

The obligations, covenants, rights and remedies of the Parties under Sections 6 through 11, 13 and 18 through 23 shall expressly extend
beyond and survive termination of this Agreement and the Term. 
 [Signature Page Follows] 

  
 14 

 IN WITNESS WHEREOF, the parties have executed this Agreement on the date and year first
above written. 
  

			
	Beasley Broadcast Group, Inc.
		
	By:	 	 /s/ Caroline Beasley

	Name:	 	Caroline Beasley
	Title:	 	Chief Executive Officer
	
	THE EXECUTIVE
	
	 /s/ Brian E. Beasley

	Name:	 	Brian E. Beasley

  
 15 

 Exhibit A 

General Release and Waiver 

For and in consideration of the payments and other benefits due to Brian E. Beasley (the “Executive”) pursuant to
Section 6 of the Executive Employment Agreement, dated as of September 20, 2021 (the “Employment Agreement”), by and between Beasley Broadcast Group, Inc. (the “Company”) and the Executive, and for other
good and valuable consideration, the Executive hereby, for the Executive, the Executive’s spouse and child or children (if any), the Executive’s heirs, beneficiaries, devisees, executors, administrators, attorneys, personal
representatives, successors and assigns, forever releases and discharges the Company, and any of its divisions, affiliates, subsidiaries, parents, branches, predecessors, successors, assigns, and, with respect to such entities, their officers,
directors, trustees, employees, agents, shareholders, administrators, general or limited partners, representatives, attorneys, insurers and fiduciaries, past, present and future (the “Released Parties”) from, and covenants not to
sue for, any and all claims of any kind arising out of, or related to, Executive’s employment with the Company, its affiliates and subsidiaries (collectively, with the Company, the “Affiliated Entities”) or the Executive’s
separation from employment with the Affiliated Entities, which the Executive now has or may have against the Released Parties, whether known or unknown to the Executive, by reason of facts which have occurred on or prior to the date that the
Executive has signed this Release. Such released claims include, without limitation, any and all claims relating to the foregoing under federal, state or local laws pertaining to employment, including, without limitation, Florida Civil Rights Act,
Fla. Stat. Sec. 760.01 et. seq., the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000e et. seq., the Fair Labor Standards Act, as amended, 29 U.S.C.
Section 201 et. seq., the Americans with Disabilities Act, as amended, 42 U.S.C. Section 12101 et. seq. the Reconstruction Era Civil Rights Act, as amended, 42 U.S.C. Section 1981 et. seq.,
the Rehabilitation Act of 1973, as amended, 29 U.S.C. Section 701 et. seq., the Family and Medical Leave Act of 1992, 29 U.S.C. Section 2601 et. seq., and any and all state or local laws regarding employment
discrimination and/or federal, state or local laws of any type or description regarding employment, including but not limited to any claims arising from or derivative of the Executive’s employment with the Affiliated Entities, as well as any
and all such claims under state contract or tort law. 
 The Executive has read this Release carefully, acknowledges that the Executive has
been given at least twenty-one (21) days to consider all of its terms (and the parties agree that such time period to review this Release shall not be extended upon any material or immaterial changes to
this Release) and has been advised to consult with an attorney and any other advisors of the Executive’s choice prior to executing this Release, and the Executive fully understands that by signing below the Executive is voluntarily giving up
any right which the Executive may have to sue or bring any other claims against the Released Parties, including any rights and claims under the Age Discrimination in Employment Act. The Executive understands and acknowledges that the consideration
given for this Release is in addition to anything of value to which the Executive was already entitled. The Executive also understands that the Executive has a period of seven (7) days after signing this Release within which to revoke
Executive’s agreement, and that neither the Company nor any other person is obligated to make any payments or provide any other benefits to the Executive pursuant to the Employment Agreement until the eighth (8th) day

  
 16 

 
after the Executive’s signing of this Release without the Executive’s signature having been revoked other than any accrued obligations or other benefits payable pursuant to the terms of
the Company’s normal payroll practices or employee benefit plans. Finally, the Executive has not been forced or pressured in any manner whatsoever to sign this Release, and the Executive agrees to all of its terms voluntarily. The Executive is
advised that nothing in this Release prevents or precludes the Executive from challenging or seeking a determination in good faith of the validity of this waiver under the Age Discrimination in Employment Act, nor does it impose any condition
precedent, penalties, or costs for doing so, unless specifically authorized by Federal law. 
 Notwithstanding anything else herein to the
contrary, this Release shall not affect: (i) the Company’s obligations under Section 6 of the Employment Agreement or under any compensation or employee benefit plan, program or arrangement (including, without
limitation, obligations to the Executive under any stock option, stock award or agreements or obligations under any pension, deferred compensation or retention plan) provided by the Affiliated Entities where the Executive’s compensation or
benefits are intended to continue or the Executive is to be provided with compensation or benefits, in accordance with the express written terms of such plan, program or arrangement, beyond the date of the Executive’s termination; or
(ii) rights to indemnification, contribution or liability insurance coverage the Executive may have under the by-laws of the Company or applicable law. Furthermore, this Release does not release claims
that cannot be released as a matter of law, and nothing in this Release prohibits the Executive from reporting possible violations of Federal law or regulation to any United States governmental agency or entity in accordance with the provisions of
and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of State or Federal law or regulation (including the right to
receive an award for information provided to any such government agencies). 
 Sections 11, 13 and
18 of the Employment Agreement shall also apply to this Release. This Release is final and binding and may not be changed or modified except in a writing signed by both parties. In the event that any provision or any portion of any provision
hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this Release shall continue in full force and effect without said provision or portion of provision. 

 

					
	Date	 		 	BRIAN E. BEASLEY
			
	  
	 		 	  

			
	Date	 		 	BEASLEY BROADCAST GROUP, INC.
			
	  
	 		 	  

  
 17EX-10.4

 Exhibit 10.4 

EMPLOYMENT AGREEMENT 
 This
Employment Agreement (“Agreement”) made this 20th day of September, 2021, by and between Beasley Mezzanine Holdings, LLC (“Employer”) and Marie Tedesco
(“Employee”) (Employer and Employee each “Party”). 
 WHEREAS, the Employer and the Employee have entered into an
Employment Agreement, dated June 8, 2017 (as amended, the “Prior Employment Agreement”) and the Employee has been and is now employed by the Employer; 

WHEREAS, the Employer desires to continue to assure itself of the services of the Employee and to continue to employ the Employee, and the
Employee desires to continue to commit herself to serve Employer and to continue to be employed by the Employer, on the terms herein provided; and 

WHEREAS, the Employer and the Employee desire to terminate the Prior Employment Agreement and replace and supersede the Prior Employment
Agreement in its entirety with this Agreement; 
 NOW, THEREFORE, in consideration of the mutual covenants herein contained, the Parties
hereto hereby agree as follows: 
 1.    EMPLOYMENT. Employer hereby employs Employee and Employee hereby
accepts such employment by Employer upon the terms and conditions set forth herein as Chief Financial Officer of Employer. 

2.    TERM OF EMPLOYMENT. 

(a) Initial Term. The Employer shall continue to employ the Employee and the Employee shall continue in the employ of the Employer, for
the period set forth in this Section 2, in the position set forth in Section 1 and upon the other terms and conditions herein provided. The initial term of employment under this Agreement (the “Initial Term”) shall be for the
period beginning on June 1, 2021 (the “Effective Date”) and shall expire on the third anniversary thereof, unless earlier terminated as provided in Section 8. 

(b) Extension. The employment term hereunder shall be extended for successive one-year periods
(“Extension Terms” and, collectively with the Initial Term, the “Term”), upon the mutual agreement of the Parties in writing. 

3.    SERVICES. Employee’s principal duties shall be those of performing services as Chief
Financial Officer and Executive Vice President for Employer at times and days determined by Employer in accordance with the terms and conditions set forth herein. Subject to reasonable modification from time to time by the Board of Directors or by
the Chief Executive Officer, Employee shall report to the Chief Executive Officer and shall serve as Chief Financial Officer and Executive Vice President of the Employer with such customary responsibilities, duties and authority as are usually
incident to the position of Chief Financial Officer and Executive Vice President. Employee shall be responsible for the financial plans, policies and management of the Employer along with its accounting practices and relationships with lending

 
institutions, shareholders and the financial community. Employee shall direct the accounting, cash management, tax, budget, credit and treasury functions and activities associated with the
security and investment of assets and funds that ensures that financial transactions, policies and plans meet short and long-term objectives and regulatory requirements. Employee will, on a full-time basis, apply all of her skill and experience to
the performance of her duties in such employment and will not, without the prior consent of the Board of Directors, devote substantial amounts of time to outside business activities. Notwithstanding the foregoing, Employee may devote a reasonable
amount of her time to civic, community, charitable or passive investment activities. Employee agrees and acknowledges that Employer retains sole discretion to change the scope and extent of Employee’s duties at any time, subject only to the
terms of this Agreement, including but not limited to reassigning any of the duties herein to another employee; relieving Employee of any of the duties herein; and/or eliminating, removing, reassigning or relieving Employee of any of the titles
granted to Employee herein. 
 4.    EFFORTS OF EMPLOYEE. Employee shall not enter into any
agreement or contract on behalf of Employer or commit to any obligation without the prior approval of Employer. Employee shall faithfully and diligently discharge his/her duties and responsibilities and shall exert his/her best efforts and abilities
to maintain and preserve good relationships with suppliers, advertisers, customers, lessors, governmental agencies, and others having business dealings with Employer. Employee shall not, during the Term, be or become involved or interested, directly
or indirectly, in any manner, as a partner, officer. director, stockholder, advisor, inventor, creditor, employee or in any other capacity in any Business as defined in Attachment A; provided, however, that Employee may, as a passive investor,
invest personal funds in the capital stock or other securities of a corporation or other entity, provided Employee owns less than one percent (1%) of the equity securities of such entity or an investment in such entity represents less than five
percent (5%) of the total assets of Employee. 
 5.    COMPENSATION. In consideration of entering
into this Agreement, during the Term: 
 (a)    Employer shall pay to Employee and Employee agrees to accept from
Employer for Employee’s full and faithful performance by Employee of services provided hereunder, an annual salary (“Base Salary”) set forth in Attachment B. Such Base Salary shall be paid on a semi-monthly basis; provided, however,
that Employer may withhold or deduct from sums due Employee any taxes, contributions, payments and assessments which Employer is now or may hereafter be required by law to withhold or deduct. The Base Salary shall be effective retroactively to the
Effective Date and the amounts that the Employee would have received under this Agreement had it been entered into on the Effective Date that are in excess of amounts received by the Employee since the Effective Date shall be paid to the Employee at
the time of the first salary payment to the Employee after the date hereof. 
 (b)    In addition to Employee’s
Base Salary, Employee will be eligible to receive additional compensation as set forth in Attachment B. 
 (c)    Any
compensation earned pursuant to this Section 5 shall be paid according to Employer’s customary payment practices, as may be implemented or changed by Employer from time to time. 

  
 2 

 6.    BENEFITS. During the Term, Employee shall be
entitled to participate in any Employer benefit plans now existing or hereafter adopted for which Employee may be eligible pursuant to established Employer policy, subject to the provisions of such plans as the same may be in effect from time to
time. Employee agrees that nothing contained in this Agreement shall prevent Employer from terminating or modifying any such benefit plan in whole or in part at any time. During the Term, Employer will reimburse Employee for the cost of adult/child
medical and dental insurance provided by Employer. Employee will be entitled to five (5) weeks’ vacation each year, or prorated for any partial year, during the Term. Vacation must be approved in advance and may not be carried over from one
year to another. 
 7.    DEATH. In the event of the death of Employee during the Term, this
Agreement shall terminate and Employee’s executor, administrator or legal representative shall be entitled only to any accrued compensation due and owing up to the date of Employee’s death. 

8.    TERMINATION. 

(a)    If, due to a physical or mental disability, including without limitation, impairment of Employee’s voice,
Employee becomes unable to perform all the essential functions of the applicable job description set forth in Section 3 above and/or the services to be provided pursuant to this Agreement, whichever is applicable, even with a reasonable
accommodation of such disability, Employer may suspend or terminate this Agreement at its sole discretion, without any further obligation to Employee under this Agreement. In the event of a suspension or termination of this Agreement pursuant to
this Section, benefit plan coverage applicable to Employee will be available to Employee to the extent provided by the terms and conditions of such plan or as required by applicable law. Whether or not Employer suspends or terminates this Agreement,
Employer will have no obligation to, but may at its option and in its sole discretion, pay Employee the pro rata share of Employee’s Base Salary applicable to any portion or all of such period during which, due to any personal illness or
injury, whether or not it constitutes a disability, Employee fails to provide services or materials (if any) required to be furnished by Employee pursuant to this Agreement. Should a question arise as to Employee’s ability to perform all the
essential functions of his/her position listed in this Agreement, Employee agrees to cooperate fully in assisting Employer in making a determination of whether Employee is able to perform those essential functions with or without a reasonable
accommodation, including, without limitation, having his/her treating medical provider respond to medical inquiries, and if necessary submission to a medical examination by a licensed health care provider designated by Employer. Employee will also
be asked to help in determining if a reasonable accommodation can be made. Employer will give Employee notice of the action it intends to take after determining that Employee cannot perform all essential functions of the applicable job description
and/or the services to be provided pursuant to this Agreement. 
 (b)    Employer shall have the right to immediately
terminate Employee’s employment and all rights and obligations hereunder at any time “for cause” upon giving written notice thereof to Employee. Termination “for cause” shall include, but not be limited to: 

 

	 	•	 	 conduct which reflects adversely upon and detracts from Employee’s value as Chief Financial Officer or
Employer’s public image or reputation; 

  
 3 

	 	•	 	 failure to perform according to or follow the policies and directives of Employer; 

 

	 	•	 	 failure to perform the duties set forth in Section 3 of this Agreement; 

 

	 	•	 	 Employee’s fraud, theft or embezzlement, 

 

	 	•	 	 Employee’s arrest or conviction of any felony or other crime involving moral turpitude;

  

	 	•	 	 gross or willful misconduct or negligence; 

 

	 	•	 	 breach by Employee of a material term of this Agreement; 

 

	 	•	 	 insubordination; 

  

	 	•	 	 possession or consumption of intoxicating liquor or illegal drugs on Employer’s property, or reporting to
work under the influence of alcohol or intoxicating drugs; 

  

	 	•	 	 illegal use or possession of a controlled substance; 

 

	 	•	 	 any violations of federal, state or local rules and regulations; 

 

	 	•	 	 payola and or plugola; 

 

	 	•	 	 unethical conduct; 

  

	 	•	 	 failure to work in a harmonious manner with management or other employees; 

 

	 	•	 	 failure to comply with any rules or regulations of Employer or any conduct inconsistent with the policies,
procedures, or best interest of Employer; 

  

	 	•	 	 excessive absenteeism or tardiness; 

 

	 	•	 	 Employee’s failure or refusal to perform the services required of Employee under this Agreement for a period
of two (2) or more days for reasons other than vacation, illness, accident, injury, incapacity or authorized leave of absence. 

(c)    If Employee is terminated for cause, disability or death, Employee shall be entitled to compensation that has
accrued up to the date of termination, disability or death but Employee shall not be entitled to severance or other payment whatsoever. If at any time Employee fails to perform fully any one or more of the obligations hereunder, or in the event of
breach by Employee of any representation, warranty, term, obligation or condition of this Agreement, Employer shall have the right at its sole option, in addition to the rights set forth in this Agreement and any other right at law or in equity, to
(i) discipline Employee, by suspension from work and/or suspension or reduction in pay or otherwise and/or (ii) extend the Term for a period equal to that of the non-performance. 

  
 4 

 (d)    (i) Employer may terminate this Agreement and Employee’s
employment at any time during the Term without cause. If Employee is terminated “without cause” (“Separation of Service”), Employee shall be entitled to severance equal to the lesser of the Base Salary for six (6) months or
the balance of the Term of the Agreement (“Severance Period”). Employee shall not be entitled to payment of any severance if Employee becomes employed by Employer or an affiliate of Employer in any capacity within six (6) months of
Employee’s date of Separation from Service. 
 (ii)    At Employer’s option, such severance payment, net of
applicable deductions, may be made in a lump sum (to the extent such payment does not result in the imposition of an excise tax under Section 409A of the Code) or over the Severance Period in accordance with Employer’s standard payroll
practices as they may exist from time to time. In order to be eligible to receive the severance: (a) Employee must execute and deliver within 21 days following delivery to Employee, and not subsequently revoke, a full release (the
“Release”) of any and all claims Employee may have against Employer, its affiliates, and their respective officers, directors, employees, shareholders, agents and assigns (collectively “Releasees”), arising through the date the
release is executed and a covenant not to sue the Releasees and (b) the Employee must be and remain in full compliance with the obligations under Section 11, 12 13, 14, 15 and 16 of this Agreement. Employer shall deliver the Release to
Employee within 2 days of Employee’s Separation from Service. Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payments due under this Section 8(d) be paid (i) before Employer’s
first regular payroll payment date occurring on or after the 30th day following the date of Employee’s Separation from Service, or (ii) after the date that is 24 months after the date of Employee’s Separation from Service. 

(iii)    Employee shall be required to mitigate the amount of any severance payments made pursuant to this
Section 8(d), and the amount of such payments shall be reduced by any compensation earned by Employee from any source for work performed by Employee for the same periods for which those payments are made to Employee, including, without
limitation, salary, sign-on or annual bonus compensation, consulting fees, commission payments, and car allowance. Employee agrees to advise Employer immediately and in writing of any employment for which
Employee is receiving such payments and to provide documentation thereof as requested by Employer with respect to such employment. During any period in which Employer remains liable to make severance payments to Employee hereunder, Employee shall
use good faith efforts to obtain employment commencing as soon as possible after the expiration of any obligation hereunder not to compete. 

(e)    Any termination of this Agreement, whether by expiration or otherwise as provided hereunder, shall also constitute
termination of employment with Employer, unless a successor agreement is executed or employment otherwise continues as provided below. If, by the expiration date of this Agreement, no successor agreement is executed by Employee and Employer and, at
Employer’s request, Employee continues to provide Employee’s personal services to Employer, any such continued employment of Employee by Employer shall be
day-to-day, terminable at the will of either Party for any reason. Unless otherwise expressly agreed to in writing by Employer, compensation and other terms and
conditions of such day-to-day employment shall be governed solely by the terms of this Agreement, provided however, that Employee shall not be entitled to any severance
payment (pursuant to this Agreement or 

  
 5 

 
otherwise) upon termination of such day-to-day employment hereunder. If Employer does not request Employee to
continue providing Employee’s personal services after expiration of this Agreement, and Employee has not advised Employer of Employee’s intention to terminate Employee’s employment with Employer upon expiration of this Agreement,
Employee’s employment shall be deemed terminated by Employer. If Employer does request Employee to continue providing Employee’s personal services after expiration of this Agreement, but Employee declines to provide Employee’s
personal services, then Employee’s employment shall be deemed terminated by Employee. 

9.    EXCLUSIVE NEGOTIATION. 

(a)    Notification of Offer From a Third Party: Employee agrees to immediately notify Employer in writing of all
offers of employment received by Employee from any third party to perform any duties described in Section 3 herein or to perform any services for a Business as defined in Attachment A during the Term of this Agreement. 

(b)    First Negotiation: If Employer desires to continue to utilize Employee’s services after the expiration
of this Agreement, Employer shall so notify Employee, in writing, no sooner than ninety (90) days prior to the expiration of the Term. Upon such written notification, for at least the following sixty (60) days, Employee shall negotiate in
good faith exclusively with Employer concerning continuation of Employee’s services to Employer in the period following expiration of this Agreement. Nothing contained herein shall relieve Employee of Employee’s non-compete and/or right-of-first-refusal obligations under this Section 9 and Section 12. 

(c)    Right of First Refusal: At any time during the Term and for six (6) months after the date this
Agreement expires or employment is otherwise terminated, and subject to Section 12 hereof, Employee shall not enter into employment of, perform services for, enter into any oral or written agreement for services, or grant or receive future
rights of any kind to provide services to or from any person or entity engaged the Business within the Restricted Territory as defined in Attachment A unless Employee has first promptly disclosed the terms thereof to Employer and offered in writing
to enter into an employment agreement with Employer on terms and conditions which are at least as favorable to Employer as those of any bona fide offer which Employee has received or option or rights which Employee intends to grant or accept.
Employer shall have twenty (20) days from receipt of notice from Employee of any such offer within which to notify Employee of Employer’s election to accept said offer; however, in no event shall such twenty (20) day period commence
prior to the expiration of this Agreement. Notice to Employer of any such offer must be in writing, set forth all details of such offer and contain the signature of both the offeror and offeree, acknowledging the validity of the offeror’s offer
and the offeree’s willingness to accept such offer. Employer shall be deemed to have accepted Employee’s offer by acceptance of all terms thereof reducible to a determinable amount of money. If Employer does not accept any offer of which
Employee duly notifies Employer, and Employee does not enter into the employ of or provide services for the third party on the terms and conditions set forth in said offer, the terms of this Section shall apply to any subsequent offer to or by
Employee. 

  
 6 

 10.    ACKNOWLEDGMENTS. Employee acknowledges that:

 (a)    The Employer is engaged in the Business as defined in Attachment A; 

(b)    Employee’s position is a position of trust and responsibility with the Employer and will provide Employee with
access to Confidential Information and Trade Secrets as defined in Attachment A, and valuable information concerning employees and customers of the Employer; 

(c)    the Trade Secrets and Confidential Information, and the relationship between the Employer and each of its employees
and customers, are valuable assets of the Employer; 
 (d)    The Employer’s competitors would obtain an unfair
advantage if Employee: (i) discloses Confidential Information or Trade Secrets to the Employer’s competitors; (ii) uses Confidential Information or Trade Secrets on behalf of any entity that competes with the Employer; or
(iii) exploits the relationships Employee develops on behalf of the Employer during Employee’s employment to solicit Customers or Company Employees in violation of this Agreement; 

(e)    the restrictions contained in Sections 11-14 of this Agreement are
reasonable and necessary to protect the legitimate business interests of the Employer, and will not impair or infringe upon Employee’s right to work or earn a living in the event Employee’s employment with the Employer ends. 

11.    TRADE SECRETS AND CONFIDENTIAL INFORMATION. 

(a)    Employee agrees that Employee will not: 

(i)    either during or after Employee’s employment with the Employer, use or disclose the Trade Secrets or the
Confidential Information for any purpose other than the performance of duties in the Business on behalf of the Employer, except as authorized in writing by the Employer; 

(ii)    during Employee’s employment with the Employer, use or disclose: (a) any confidential information or
trade secrets of any third party; or (b) any works of authorship developed in whole or in part by Employee for any other party, unless authorized in writing by the third party; or 

(iii)    upon the conclusion of Employee’s employment with the Employer, for any reason, retain Trade Secrets or
Confidential Information, including any copies existing in any form (including electronic form) that are in Employee’s possession or control. This includes customer information on any social media account that Employee utilizes on behalf of the
Employer. Employee agrees to: (1) maintain the privacy settings on any social media account such that competitors cannot access customer information on said accounts; and (2) delete (within three days of the close of Employee’s
employment with the Employer) all customer information that Employee adds to any social media accounts during the course of Employee’s employment with the Employer. 

  
 7 

 (b)    The obligations under this Section 11 shall remain in effect
as long as the information constitutes a Trade Secret or Confidential Information under the definitions set forth in this Agreement and/or applicable law. 

(c)    The confidentiality, property, and proprietary rights protections available in this Agreement are in addition to,
and not exclusive of, any and all other rights to which the Employer is entitled under federal and state law, including, but not limited to, rights provided under copyright laws, trade secret and confidential information laws, and laws concerning
fiduciary duties. 
 (d)    Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement shall
prohibit Employee from reporting possible violations of Federal law or regulation to any United States governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of
1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of State or Federal law or regulation (including the right to receive an award for information provided to any such government agencies).
Furthermore, in accordance with 18 U.S.C. § 1833, the Employer hereby notifies Employee that, notwithstanding anything to the contrary herein: (a) Employee shall not be in breach of this Agreement, and shall not be held criminally or
civilly liable under any Federal or State trade secret law (i) for the disclosure of a trade secret that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or
investigating a suspected violation of law, or (ii) for the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; and (b) if Employee files a
lawsuit for retaliation by Employer for reporting a suspected violation of law, Employee may disclose the trade secret to Employee’s attorney, and may use the trade secret information in the court proceeding, if Employee files any document
containing the trade secret under seal, and does not disclose the trade secret, except pursuant to court order. 

12.    NON-COMPETITION. During the Restricted Period,
Employee will not, except as authorized by the Employer, perform Competitive Tasks in the Restricted Territory. This provision shall be limited to performing such tasks on behalf of any entity engaged in the Business or otherwise in competition with
the Employer. 
 13.    NON-SOLICITATION OF CUSTOMERS.
During the Restricted Period, Employee will not directly or indirectly solicit any Customer of the Employer as defined in Attachment A for the purpose of selling or providing any products or services competitive with those offered by the
Employer. Nothing in this Section shall be construed to prohibit Employee from soliciting: (a) a Customer that has terminated its business relationship with the Employer (for reasons other than being solicited or encouraged by Employee to do
so), or (b) a product line or service line competitive with one that the Employer no longer offers. 

14.    NON-RECRUITMENT OF COMPANY EMPLOYEES. During the
Restricted Period, Employee will not, directly or indirectly, solicit, recruit or induce any Company Employee to terminate his or her employment relationship with the Employer in order to work for any other person or entity engaged in the Business.

  
 8 

15.    NON-DISPARAGEMENT. During the Restricted Period,
Employee shall not, in any communications with the press or other media, to the public or to any customer, client or supplier of Employer or its affiliates, criticize, ridicule or make any statement which disparages or is derogatory of Employer,
Stations, their affiliates or any of their respective directors, officers or employees. 
 16.    WORK
PRODUCT. Employee’s employment duties may include inventing in areas directly or indirectly related to the Business of the Employer or to a line of business that the Employer may reasonably be interested in pursuing. All Work Product as
defined in Attachment A shall constitute work made for hire. If: (a) any of the Work Product may not be considered work made for hire; or (b) ownership of all right, title, and interest in and to the Work Product will not vest exclusively
in the Employer, then, without further consideration, Employee assigns all presently-existing Work Product to the Employer, and agrees to assign, and automatically assign, all future Work Product to the Employer. 

The Employer will have the right to obtain and hold in its own name, copyrights, patents, design registrations and continuations thereof, proprietary database
rights, trademarks, rights of publicity, and any other protection available in the Work Product. At the Employer’s request, Employee agrees to perform, during or after Employee’s employment with the Employer, any acts to transfer, perfect
and defend the Employer’s ownership of the Work Product, including, but not limited to: (a) executing all documents (including a formal assignment to the Employer) for filing an application or registration for protection of the Work
Product (an “Application”); (b) explaining the nature of the Work Product to persons designated by the Employer; (c) reviewing Applications and other related papers; or (d) providing any other assistance reasonably required for
the orderly prosecution of Applications. 
 Employee agrees to provide the Employer with a written description of any Work Product in which Employee is
involved (solely or jointly with others) and the circumstances surrounding the creation of such Work Product. 

17.    RETURN OF EMPLOYER PROPERTY/MATERIALS. Upon the termination of Employee’s employment for
any reason or upon the Employer’s request at any time, Employee shall immediately provide to the Employer all of the Employer’s property, including, but not limited to, any mobile/smart phone, personal digital assistant (PDA), keys,
passcards, credit cards, confidential or proprietary lists (including, but not limited to, customer or vendor lists existing in any format), rolodexes, tapes, laptop computer, software, computer files, external data device, marketing and sales
materials, information relating to work done for the Employer or that Employee obtained as a result of working for the Employer (including such information residing on Employee’s personal computer, e-mail account, social media account, Cloud
account, external data device, or mobile/smart phone) and any other property, record, document, or piece of equipment belonging to the Employer. Employee will not retain any copies of the Employer’s property, including any copies existing in
electronic form, that are in Employee’s possession, custody, or control. The obligations contained in this Section shall also apply to any property that belongs to a third party, including, but not limited to: (a) any entity

  
 9 

 
that is affiliated or related to the Employer; or (b) the Employer’s customers, licensors, or suppliers. If Employee has any questions regarding Employee’s obligations to return
and not to retain Employer property, then Employee is obligated to contact Employee’s direct supervisor (as of the end of Employee’s employment) to obtain guidance. 

18.    POST-EMPLOYMENT DISCLOSURE. During the Restricted Period, Employee shall provide a copy
of Sections 11-18 and Attachment A of this Agreement to persons and/or entities for whom Employee works or consults as an owner, partner, joint venturer, employee or independent contractor. If,
during the Restricted Period, Employee agrees to work or consult for another person or entity as an owner, partner, joint venturer, employee or independent contractor, then Employee shall provide the Employer on or before Employee’s first day
of work or consultation with such person’s or entity’s name, the nature of such person’s or entity’s business, Employee’s job title, and a general description of the services Employee will provide. 

19.    COOPERATION. Employee agrees to cooperate, to the extent and in the manner requested by
the Employer and at the Employer’s expense, in the prosecution or defense of any claims, litigation (other than litigation between Employee and the Employer regardless of who initiated said litigation) or other proceeding involving any Employer
property. 
 20.    GENERAL PROVISIONS. 

(a)    SEVERABILITY: The provisions of this Agreement are severable. If any provision is determined to
be invalid, illegal, or unenforceable, in whole or in part, then such provision shall be modified so as to be enforceable to the maximum extent permitted by law. If such provision cannot be modified to be enforceable, then the unenforceable element
of the provision (or, failing that, the entire provision) shall be severed from this Agreement. The remaining provisions and any partially enforceable provisions shall remain in full force and effect. 

(b)    ATTORNEYS’ FEES. In the event of litigation relating to this Agreement, the
prevailing Party shall be entitled to recover its attorneys’ fees and costs of litigation in addition to all other remedies available at law or in equity. 

(c)    ASSIGNABILITY. This Agreement shall not be assignable by Employee. This Agreement shall be
assignable by Employer to any person or entity who succeeds to ownership of the Employer or to any licensees of the Employer. 

(d)    WAIVER. All remedies, rights, undertakings, obligations and agreements contained in this
Agreement shall be cumulative, and none of them shall be in limitation of any other remedy, right, undertaking, obligation or agreement of either Party. All remedies provided in this Agreement shall be deemed cumulative and the exercise of one shall
not preclude the exercise of any other remedy for the same event or any other event; nor shall the specification of remedies herein exclude any rights or remedies at law or in equity. The delay or failure of either Party to assert or exercise any
right, remedy or privilege hereunder, with actual or constructive notice or knowledge of the breach of any representation, warranty or provisions herein, shall not constitute a waiver of any such right, remedy, privilege or breach. No waiver shall
be effective 

  
 10 

 
unless such waiver is in writing, and then it shall be applicable only in the specific instance for which such waiver was given. A waiver by either Party of any term or condition of this
Agreement in any instance shall not be deemed or construed as a waiver of such term or condition for the future, or of any subsequent breach thereof. 

(e)    NOTICE. Any notice, election or other communication required or permitted to be given to a
Party pursuant to this Agreement shall be in writing and shall be determined to have been duly given when delivered personally, by overnight courier service or by United States Certified or Registered Mail, return receipt
requested, postage prepaid as follows: 
  

			
	As to EMPLOYEE:        	  	Marie Tedesco
		  	9253 Estero River Circle
		  	Estero, FL 33928
		
	As to EMPLOYER:	  	Caroline Beasley
		  	Chief Executive Officer
		  	Beasley Mezzanine Holdings, LLC
		  	3033 Riviera Drive, Suite 200
		  	Naples, FL 34103

 Either Party may change his or its address for the purposes of this Section by written notice given in
the manner herein provided. 
 (f)    ENTIRE AGREEMENT. This Agreement, including Attachments A and B,
which are incorporated by reference, constitutes the entire agreement between the Parties concerning the subject matter of this Agreement. This Agreement supersedes any prior communications, agreements or understandings, whether oral or written,
between the Parties relating to the subject matter of this Agreement. The Parties agree that the Prior Employment Agreement is hereby terminated, and this Agreement replaces and supersedes the Prior Employment Agreement in its entirety. 

(g)    AMENDMENTS. Employee understands that, at any time during Employee’s employment, the Employer
may request that Employee sign an amendment to this Agreement that would modify the Agreement based on changes to Employee’s duties, changes in the area for which Employee has responsibility, changes in the Employer’s Business, or changes
in the law regarding restrictive covenants. This Agreement may not otherwise be amended or modified except in writing signed by both Parties. 

(h)    APPLICABLE LAW AND VENUE. This Agreement shall be governed by and construed in accordance with the
laws of the State of Florida, without reference to its choice of law rules. Employee agrees that any claim arising out of or relating to this Agreement shall be brought exclusively in the state or federal courts of competent jurisdiction for Collier
County, Florida. Employee consents to the personal jurisdiction of such courts and thereby waives: (a) any objection to jurisdiction or venue; or (b) any defense claiming lack of jurisdiction or improper venue, in any action brought in
such courts. Employee further acknowledges that Employee is executing this Agreement in the State of Florida. 

  
 11 

 (i)    REMEDIES. The Employee recognizes that the services
to be rendered by Employee hereunder are of a special, unique, and unusual character involving special talent and providing peculiar value, the loss of which cannot be adequately compensated for in damages. In the event of a breach of this Agreement
by Employee, in addition to other remedies it may have, the Employer shall be entitled to seek equitable relief by way of injunction or any other legal or equitable remedies. Resort by Employer to injunctive or other relief, however, shall not be
considered a waiver of any other rights Employer may have against Employee for damages, lost revenue, lost profit, lost earnings or otherwise. Employee agrees that Employer shall not be required to file any bond in connection with any such request
for injunctive or other equitable relief. The remedies provided in this Agreement shall be deemed cumulative and the exercise of one shall not preclude the exercise of any other remedy for the same event or any other event; nor shall the
specification of remedies herein exclude any right or remedies at law or in equity. 

(j)    CONSTRUCTION. Each Party has had an opportunity to negotiate fully the terms of this Agreement
and to consult with counsel with respect thereto. Accordingly, any rule of construction seeking to resolve any ambiguities against the drafting Party shall not be applicable in the interpretation of this Agreement. 

(k)    EXTENSION OF TIME. If Employee violates any covenant contained in this Agreement, the duration
of any covenant so violated automatically shall be extended for a period equal to the period during which Employee shall have been in violation of such covenant. 

(l)    FORCE MAJEURE. If the regular operations of Employer are suspended because of an act of God;
act of war or terrorist action; inevitable accident; fire; lockout, strike or other labor dispute; riot or civil commotion; act of public enemy; enactment, rule, order or act of government or governmental instrumentality (whether federal, state,
local or foreign); failure of technical facilities; failure or delay of transportation facilities or other cause of similar or different nature beyond the control of Employer, Employer may suspend the performance of services by Employee and the
payment of compensation hereunder during the continuation of such suspension of operations. If any such suspension of operations shall continue for a period of six (6) consecutive weeks, Employer may, by written notice, terminate this Agreement
with no further liability hereunder. No such suspension of Employer’s operations or Employee’s services shall operate to extend the Term. 

(m)    CONFIDENTIALITY. The terms and conditions of this Agreement shall not be disclosed by Employee to any
other person or entity without the prior written consent of Employer; provided, however, the Employee may provide copies of and discuss the terms of this Agreement with Employee’s legal advisor. 

(n)    COMPUTER AUTHORIZATION. Employee agrees that Employee is not authorized to use Employer’s
computer system or any of Employer’s IT hardware or software for any purpose other than the performance of Employee’s job duties or incidental, limited personal use that does not affect Employer or its Business in any way. This includes:
(a) transferring information relating to Employer’s Business from Employer’s system, hardware, or software to an external device or account other than as necessary in the performance of Employee’s job duties; (b) deleting
information relating to Employer’s Business from Employer’s system, hardware, or software other than as necessary in the performance of Employee’s job duties; or (c) altering information relating to Employer’s Business found
on Employer’s system, hardware, or software in an unauthorized manner. 

  
 12 

 (o)    INDEPENDENT ENFORCEMENT. Each of the covenants set
forth in Sections 11-14 of this Agreement shall be construed as covenants independent of: (a) any agreements other than this Agreement; or (b) any other covenants in this Agreement, and the
existence of any claim or cause of action by Employee against the Employer, whether predicated on this Agreement or otherwise, regardless of who was at fault and regardless of any claims that either Employee or the Employer may have against the
other, shall not constitute a defense to the enforcement by the Employer of the covenants set forth in Sections 11-14 of this Agreement. The Employer shall not be barred from enforcing the restrictive
covenants set forth in Sections 11-14 of this Agreement by reason of any breach of: (a) any other part of this Agreement; or (b) any other agreement with Employee. 

(p)    COUNTERPARTS. This Agreement may be executed in any number of counterparts and signed copies may be
exchanged by facsimile or e-mail, in which case each copy shall be deemed to be an original and all of which when taken together shall constitute one Agreement. 

(q)    SURVIVAL. Sections 10, 11, 12, 13, 14, 15, 16, 17, 18, 19 and 20 and Attachment A of this
Agreement shall survive termination of this Agreement and the Term. 
 21.    WITHHOLDING. The
Employer shall be entitled to withhold from any amounts payable under this Agreement, any federal, state, local or foreign withholding or other taxes or charges which the Employer is required to withhold. 

22.    SECTION 409A. 

(a)    IRS CODE SECTION 409A: To the extent applicable, it is intended that the compensation and benefits
arrangements under this Agreement be in full compliance with Section 409A of the Internal Revenue Code of 1986, as amended (“Code Section 409A”). This Agreement shall be construed in a manner to give effect to such intention. In
no event whatsoever (including, but not limited to as a result of this Paragraph or otherwise) shall Employer or any of its affiliates be liable for any tax, interest or penalties that may be imposed on Employee by Code Section 409A.
Neither Employer nor any of its affiliates shall have any obligation to indemnify or otherwise hold Employee harmless from any or all such taxes, interest or penalties or liability for any damages related thereto. Employee acknowledges that he or
she has been advised to obtain independent legal, tax or other counsel in connection with Code Section 409A. 

(b)    IN-KIND BENEFITS AND REIMBURSEMENTS. The Parties agree that,
consistent with the provisions of Code Section 409A, the following in-kind benefit and reimbursement rules shall also apply: (i) the amount of in-kind benefits
or reimbursements paid under this Agreement during a calendar year will not affect the in-kind benefits or reimbursements in any other calendar year, (ii) Employee’s right to in-kind benefits or reimbursements hereunder is not subject to liquidation or exchange for another benefit and (iii) reimbursement requests must be timely submitted by the Employee and, if timely submitted,

  
 13 

 
reimbursement payments shall be promptly made to the Employee following such submission, but in no event later than December 31st of the calendar year following the calendar year in which
the expense was incurred. 
 (c)    409A SEPARATION FROM SERVICE. Notwithstanding anything in this
Agreement to the contrary, any compensation or benefits payable under this Agreement upon Employee’s termination of employment shall be payable only upon Employee’s “separation from service” with the Employer within the meaning
of Code Section 409A (a “409A Separation from Service”) and, except as provided below, any such compensation or benefits shall not be paid, or, in the case of installments, shall not commence payment, until the thirtieth (30th) day
following Employee’s 409A Separation from Service. Any installment payments that would have been made to Employee during the thirty (30) day period immediately following Employee’s 409A Separation from Service but for the preceding
sentence shall be paid to Employee on the thirtieth (30th) day following Employee’s 409A Separation from Service and the remaining payments shall be made as provided in this Agreement. 

(d)    SPECIFIED EMPLOYEE. Notwithstanding anything to the contrary in this Agreement, if at the time of the
Employee’s 409A Separation from Service with the Employer, the Employee is a “specified employee” as defined in Code Section 409A, as determined by the Employer in accordance with Code Section 409A, and the deferral of the
commencement of any payments or benefits otherwise payable hereunder as a result of such 409A Separation from Service is necessary in order to prevent any accelerated or additional tax under Code Section 409A, then the Employer will defer the
commencement of the payment of any such payments or benefits hereunder (without any reduction in the payments or benefits ultimately paid or provided to the Employee) until the date that is at least six (6) months following the Employee’s
409A Separation from Service with the Employer (or the earliest date permitted under Code Section 409A), whereupon the Employer will pay the Employee a lump-sum amount equal to the cumulative amounts that
would have otherwise been previously paid to the Employee under this Agreement during the period in which such payments or benefits were deferred. Thereafter, payments will resume in accordance with this Agreement. For purposes of Code
Section 409A, the Employee’s right to receive any installment payments under this Agreement, including each payment made after a 409A Separation from Service, will be considered as a right to receive a series of separate payments. 

BALANCE OF PAGE INTENTIONALLY BLANK 

  
 14 

 23.    AFFIRMATION. Employee acknowledges that Employee has
carefully read this Agreement, Employee knows and understands its terms and conditions, and Employee has had the opportunity to ask the Employer any questions Employee may have had prior to signing this Agreement. Employee also acknowledges that
Employee has had the opportunity to consult an attorney of Employee’s choice (at Employee’s expense) to review this Agreement before signing it. 

This Agreement will not be considered to be binding, nor will any modifications become effective until signed by Marie Tedesco and Caroline
Beasley. 
  

									
		 		 	        Beasley Mezzanine Holdings, LLC
				
		 	 /s/ Marie Tedesco
	 	        By:	 	 /s/ Caroline Beasley

		 	Marie Tedesco	 		 	Name:	 	Caroline Beasley
		 		 		 	Title:	 	Chief Executive Officer

  
 15 

 ATTACHMENT A 

DEFINITIONS 
  

	A.	 “Business” means (i) the buying and selling of advertising on media platforms, (ii) radio
broadcasting, (iii) internet streaming, (iv) website management and content creation and (v) content creation for distribution platforms, including but not limited to social networking sites and mobile phones. 

 

	B.	 “Company Employee” means any person who: (i) was employed by the Employer at the time
Employee’s employment with the Employer ended; and (ii) remains employed by the Employer during the Restricted Period. 

  

	C.	 “Competitive Tasks” means: (i) the same or similar tasks that Employee performed on behalf of
the Employer during Employee’s last twelve (12) months of employment or (ii) any job duty that would require the use or disclosure of Confidential Information. 

 

	D.	 “Confidential Information” means: 

 

	 	(1)	 information of the Employer, to the extent not considered a Trade Secret under applicable law, that:
(i) relates to the business of the Employer; (ii) possesses an element of value to the Employer; (iii) is not generally known to the Employer’s competitors; and (iv) would damage the Employer if disclosed; or

  

	 	(2)	 information of any third party provided to the Employer that the Employer is obligated to treat as confidential
(such third party to be referred to as the “Third Party”), including, but not limited to, information provided to the Employer by its licensors, suppliers, or Customers. 

Subject to the foregoing general definition, Confidential Information includes, but is not limited to: (i) information regarding the Employer’s
techniques used in the Business; (ii) business plans; (iii) pricing information, such as price lists; (iv) advertising or marketing plans; (v) information regarding independent contractors, employees, licensors, suppliers,
customers, or any Third Party, including, but not limited to, customer lists compiled by the Employer, and customer information compiled by the Employer; and (vi) information concerning the Employer’s financial structure or condition, the
Employer’s prospects or plans, its marketing and sales programs, the Employer’s research and development information, the Employer’s contemplated or actual mergers and acquisitions, stock splits and divestitures, and its methods and
procedures of operation. 
 Confidential Information shall not include any information that: (i) is or becomes generally available to the public other
than as a result of an unauthorized disclosure; (ii) has been independently developed and disclosed by others without violating this Agreement or the legal rights of any Party; or (iii) otherwise enters the public domain through lawful
means. 
  

	E.	 “Customer” means any person or entity to whom the Employer has sold its products or services or
directly solicited to sell its products or services in the last twelve (12) months of Employee’s employment with the Employer and: 

  

	 	(1)	 With whom Employee dealt on behalf of the Employer in the last twelve (12) months of Employee’s
employment with the Employer; 

  
 16 

	 	(2)	 Whose dealings with the Employer were coordinated or supervised by Employee in the last twelve (12) months
of Employee’s employment with the Employer; 

  

	 	(3)	 About whom Employee obtained Trade Secrets or Confidential Information in the ordinary course of business in
the last twelve (12) months of Employee’s employment with the Employer and as a result of Employee’s work performed on behalf of the Employer; or 

 

	 	(4)	 Who purchased products or services from the Employer, the sale or provision of which directly results or
resulted in compensation, commissions, or earnings for Employee in the last twelve (12) months of Employee’s employment with the Employer. 

  

	F.	 “Restricted Period” means the time period during Employee’s employment with the Employer, and
for eighteen (18) months after Employee’s employment with the Employer ends, except for the Non-Competition restriction in Section 12, which shall cover the time period during Employee’s
employment with the Employer, and for six (6) months after Employee’s employment with the Employer ends. 

  

	G.	 “Restricted Territory” means the market, as defined by Nielsen, where any of the Employer’s
Stations is located at which Employee provided services or about whose operations Employee learned Confidential Information in the last twelve (12) months of Employee’s employment with the Employer. 

 

	H.	 “Stations” means radio stations owned or operated by Employer or its affiliates during the Restricted
Period. 

  

	I.	 “Trade Secrets” means the Employer’s trade secrets as defined by applicable statutory or common
law. 

  

	J.	 “Work Product” means any subject matter protected under patent, copyright, proprietary database,
trademark, trade secret, rights of publicity, confidential information, or other property rights, including all worldwide rights therein, that was conceived, created or developed in whole or in part by Employee while employed by the Employer and
that either: (1) was created within the scope of Employee’s employment; (2) was based on, resulted from, or was suggested by any work performed within the scope of Employee’s employment and is directly or indirectly related to
the business of the Employer or a line of business that the Employer may reasonably be interested in pursuing; (3) has been paid for by the Employer; or (4) was created or improved in whole or in part by using the Employer’s time,
resources, data, facilities, or equipment. This Agreement does not apply to an invention for which no equipment, supplies, facility, or trade secret information of Employer was used and which invention was developed entirely on Employee’s own
time, so long as the invention does not (i) relate directly to the business of the Employer, (ii) relate to the Employer’s actual or demonstrably anticipated research or development, or (iii) result from any work performed by
Employee for Employer. 

  
 17 

 ATTACHMENT B 

BASE SALARY: $550,000.00. 

Bonus. Employee shall be eligible to receive an annual performance bonus (the “Annual Bonus”) to be determined by the Compensation
Committee of the Board of Directors to be based on criteria as set forth in the Performance Incentive Plan dated January 1, 2012, or any successor Performance Incentive Plan approved by the Compensation Committee, such Annual Bonus to be
established by the Compensation Committee in its sole discretion. The Annual Bonus shall be targeted at 36% of Employee’s Base Salary. The Annual Bonus shall be paid in no event later than March 15th of the calendar year following the
calendar year in which such bonus is earned. 
 Restricted Stock Units Grants. As soon as reasonably practicable following the date hereof,
and subject to approval by the Compensation Committee, Employee shall be granted 75,000 restricted stock units (“Restricted Stock Units”) under the Beasley Broadcast Group, Inc. 2007 Equity Incentive Award Plan (the “Plan”).
Provided that the Employee remains continuously employed by the Employer from the date of grant through the applicable vesting date, one third of the Restricted Stock Units shall vest on the first anniversary of the Effective Date, one third of the
Restricted Stock Units shall vest on the second anniversary of the Effective Date and one third of the Restricted Stock Units shall vest on the third anniversary of the Effective Date. The Restricted Stock Units shall contain such other terms
(consistent with the Plan and the customary form of Restricted Stock Unit agreement and not inconsistent with this Agreement) as the Compensation Committee determines. 

  
 18

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