Document:

EX-4.2

 Exhibit 4.2 

EXECUTION VERSION 
  

 
  

CBS RADIO, INC. 
 as Issuer 

and 
 DEUTSCHE BANK TRUST COMPANY
AMERICAS, 
 as Trustee 
  

7.250% SENIOR NOTES DUE 2024 

FIRST SUPPLEMENTAL INDENTURE 
  

 
 Dated as of
November 17, 2017 
  
  

 
  

 

 Supplemental Indenture (this “Supplemental Indenture”), dated as of
November 17, 2017, among Entercom Radio, LLC, a Delaware limited liability company, Entercom Austin, LLC, a Delaware limited liability company, Entercom Boston, LLC, a Delaware limited liability company, Entercom California, LLC, a Delaware
limited liability company, Entercom Denver, LLC, a Delaware limited liability company, Entercom Gainesville, LLC, a Delaware limited liability company, Entercom North Carolina, LLC, a Delaware limited liability company, Entercom Greenville, LLC, a
Delaware limited liability company, Entercom Indianapolis, LLC, a Delaware limited liability company, Entercom Kansas City, LLC, a Delaware limited liability company, Entercom Madison, LLC, a Delaware limited liability company, Entercom Tennessee,
LLC, a Delaware limited liability company, Entercom Milwaukee, LLC, a Delaware limited liability company, Entercom New Orleans, LLC, a Delaware limited liability company, Entercom New Orleans License, LLC, a Delaware limited liability company,
Entercom Buffalo, LLC, a Delaware limited liability company, Entercom Buffalo License, LLC, a Delaware limited liability company, Entercom Rochester, LLC, a Delaware limited liability company, Entercom Rochester License, LLC, a Delaware limited
liability company, Entercom Virginia, LLC, a Delaware limited liability company, Entercom Portland, LLC, a Delaware limited liability company, Entercom Providence, LLC, a Delaware limited liability company, Entercom Seattle, LLC, a Delaware limited
liability company, Entercom Springfield, LLC, a Delaware limited liability company, Entercom Wichita, LLC, a Delaware limited liability company, Entercom Wilkes-Barre Scranton, LLC, a Delaware limited liability company, Entercom Abe Holdings, LLC, a
Delaware limited liability company, Entercom Miami, LLC, a Delaware limited liability company, Entercom Miami License, LLC, a Delaware limited liability company, Entercom Atlanta, LLC, a Delaware limited liability company, Entercom Atlanta License,
LLC, a Delaware limited liability company, Entercom San Diego, LLC, a Delaware limited liability company, Entercom San Diego License, LLC, a Delaware limited liability company, Entercom Denver II, LLC, a Delaware limited liability company, Entercom
Denver II License, LLC, a Delaware limited liability company, Delaware Equipment Holdings, LLC, a Delaware limited liability company, Entercom Properties, LLC, a Delaware limited liability company, SmartReach Digital, LLC, a Delaware limited
liability company, Entercom License, LLC, a Delaware limited liability company, Entercom New York City, LLC, a Delaware limited liability company, and Entercom New York, Inc., a New York corporation (each a “Guaranteeing Subsidiary”
and collectively the “Guaranteeing Subsidiaries”), affiliates of CBS Radio Inc., a Delaware corporation (the “Issuer”), and Deutsche Bank Trust Company Americas, a New York banking corporation, as trustee
(the “Trustee”). 
 W I T N E S S E T H 

WHEREAS, the Issuer and the Subsidiary Guarantors (as defined in the Indenture referred to below) have heretofore executed and
delivered to the Trustee an indenture (the “Indenture”), dated as of October 17, 2016, providing for the issuance of an unlimited aggregate principal amount of Senior Notes due 2024 (the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiaries shall execute and deliver to the Trustee
a supplemental indenture pursuant to which each Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein and under the Indenture (the
“Guarantee”); and 

 WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to
execute and deliver this Supplemental Indenture. 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

(1)    Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them
in the Indenture. 
 (2)    Agreement to Guarantee. The Guaranteeing Subsidiaries hereby agree as follows: 

(a)    Along with all Subsidiary Guarantors named in the Indenture, to jointly and severally unconditionally guarantee to
each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of the Indenture, the Notes or the obligations of the Issuer hereunder or thereunder,
that: 
 (i)    the principal of and interest and premium on the Notes will be promptly paid in full when
due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Issuer to the Holders or the Trustee hereunder or thereunder
will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and 

(ii)    in case of any extension of time of payment or renewal of any Notes or any of such other
obligations, that same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed or
any performance so guaranteed for whatever reason, the Subsidiary Guarantors and the Guaranteeing Subsidiaries shall be jointly and severally obligated to pay the same immediately. This is a guarantee of payment and not a guarantee of collection.

 (b)    The obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability
of the Notes or the Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Issuer, any action to enforce
the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. 

(c)    The following is hereby waived: diligence, presentment, demand of payment, filing of claims with a court in the
event of insolvency or bankruptcy of the Issuer, any right to require a proceeding first against the Issuer, protest, notice and all demands whatsoever. 

(d)    This Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes,
the Indenture and this Supplemental Indenture, and the Guaranteeing Subsidiaries accept all obligations of a Subsidiary Guarantor under the Indenture. 

 (e)    If any Holder or the Trustee is required by any court or otherwise to
return to the Issuer, the Subsidiary Guarantors (including the Guaranteeing Subsidiaries), or any custodian, trustee, liquidator or other similar official acting in relation to either the Issuer or the Subsidiary Guarantors, any amount paid either
to the Trustee or such Holder, this Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 

(f)    [Reserved]. 

(g)    As between the Guaranteeing Subsidiaries, on the one hand, and the Holders and the Trustee, on the other hand,
(x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 of the Indenture for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in
respect of the obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of such obligations as provided in Article 6 of the Indenture, such obligations (whether or not due and payable) shall forthwith become due
and payable by the Guaranteeing Subsidiaries for the purpose of this Guarantee. 
 (h)    To the extent that the
Guaranteeing Subsidiaries make a payment under its Guarantee, the Guaranteeing Subsidiaries shall be entitled upon payment in full of all guaranteed obligations under the Indenture to a contribution from each other Subsidiary Guarantor in an amount
equal to such other Subsidiary Guarantor’s pro rata portion of such payment based on the respective net assets of all the Subsidiary Guarantors at the time of such payment determined in accordance with GAAP. 

(i)    Pursuant to Section 10.02 of the Indenture, after giving effect to all other contingent and fixed liabilities
that are relevant under any applicable Bankruptcy or fraudulent conveyance laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Subsidiary Guarantor in respect of
the obligations of such other Subsidiary Guarantor under Article 10 of the Indenture, this new Guarantee shall be limited to the maximum amount permissible such that the obligations of such Guaranteeing Subsidiaries under this Guarantee will not
constitute a fraudulent transfer or conveyance. 
 (j)    This Guarantee shall remain in full force and effect and
continue to be effective should any petition be filed by or against the Issuer for liquidation, reorganization, should the Issuer become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for
all or any significant part of the Issuer’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Notes are, pursuant to
applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Notes and Guarantee, whether as a “voidable preference”, “fraudulent transfer” or otherwise, all as
though such payment or performance had not been made. In the event that any payment or any part thereof, is rescinded, reduced, restored or returned, the Note shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by
such amount paid and not so rescinded, reduced, restored or returned. 

 (k)    In case any provision of this Guarantee shall be invalid, illegal or
unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

(l)    This Guarantee shall be a general unsecured senior obligation of such Guaranteeing Subsidiaries. 

(m)    Each payment to be made by the Guaranteeing Subsidiaries in respect of this Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. 

(3)    Execution and Delivery. The Guaranteeing Subsidiaries agree that the Guarantee shall remain in full force
and effect notwithstanding the absence of the endorsement of any notation of such Guarantee on the Notes. 

(4)    [Reserved]. 

(5)    Releases. The Guarantee of each Guaranteeing Subsidiary shall be automatically and unconditionally released
and discharged, and no further action by each Guaranteeing Subsidiary, the Issuer or the Trustee is required for the release of such Guaranteeing Subsidiary’s Guarantee, upon: 

(1)    (A) any sale, exchange or transfer (by merger or otherwise) of the Capital Stock of such
Guaranteeing Subsidiary (including any sale, exchange or transfer), after which such Guaranteeing Subsidiaries is no longer a Restricted Subsidiary or all or substantially all the assets of the Guaranteeing Subsidiary which sale, exchange or
transfer is made in compliance with the applicable provisions of the Indenture; 
 (B)    the release or
discharge of the guarantee by such Guaranteeing Subsidiary of the Senior Credit Facilities or the guarantee which resulted in the creation of the Guarantee, except a discharge or release by or as a result of payment under such guarantee; 

(C)    the proper designation of such Guaranteeing Subsidiary as an Unrestricted Subsidiary; or 

(D)    the Issuer exercising its Legal Defeasance option or Covenant Defeasance option in accordance with
Article 8 of the Indenture or the Issuer’s obligations under the Indenture being discharged in accordance with the terms of the Indenture; and 

(2)    such Guaranteeing Subsidiary delivering to the Trustee an Officer’s Certificate and an Opinion
of Counsel, each stating that all conditions precedent provided for in the Indenture relating to such transaction have been complied with. 

(6)    No Recourse Against Others. No director, officer, employee, incorporator, member or stockholder of a
Guaranteeing Subsidiary shall have any liability for any obligations of the Issuer or the Subsidiary Guarantors (including the Guaranteeing Subsidiary) under the 

 
Notes, any Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting Notes
waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

(7)    Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK. 
 (8)    Counterparts. The parties may sign any number of copies of this Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective
execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture and signature pages for all purposes. 

(9)    Effect of Headings. The Section headings herein are for convenience only and shall not affect the
construction hereof. 
 (10)    The Trustee. The Trustee shall not be responsible in any manner whatsoever for or
in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiaries. 

(11)    Subrogation. The Guaranteeing Subsidiaries shall be subrogated to all rights of Holders of Notes against
the Issuer in respect of any amounts paid by the Guaranteeing Subsidiaries pursuant to the provisions of Section 2 hereof and Section 10.01 of the Indenture; provided that the Guaranteeing Subsidiaries shall not be entitled to enforce or
receive any payments arising out of, or based upon, such right of subrogation until all obligations of the Issuer under the Indenture and the Notes shall have been paid in full. 

(12)    Benefits Acknowledged. The Guaranteeing Subsidiaries’ Guarantee is subject to the terms and conditions
set forth in the Indenture. Each Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental Indenture and that the guarantee and waivers
made by it pursuant to this Guarantee are knowingly made in contemplation of such benefits. 

(13)    Successors. All agreements of each Guaranteeing Subsidiary in this Supplemental Indenture shall bind its
Successors, except as otherwise provided in Section 2(k) hereof or elsewhere in this Supplemental Indenture. All agreements of the Trustee in this Supplemental Indenture shall bind its successors. 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the date first above written. 
  

			
	CBS RADIO, INC.
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM RADIO, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM AUSTIN, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM BOSTON, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM CALIFORNIA, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM DENVER, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM GAINESVILLE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President

 [Signature Page to the First Supplemental Indenture] 

 
			
	ENTERCOM NORTH CAROLINA, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM GREENVILLE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM INDIANAPOLIS, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM KANSAS CITY, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM MADISON, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM TENNESSEE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM MILWAUKEE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President

 [Signature Page to the First Supplemental Indenture] 

 
			
	ENTERCOM NEW ORLEANS, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM NEW ORLEANS LICENSE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM BUFFALO, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM BUFFALO LICENSE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM ROCHESTER, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM ROCHESTER LICENSE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM VIRGINIA, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President

 [Signature Page to the First Supplemental Indenture] 

 
			
	 ENTERCOM PORTLAND, LLC

		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	 ENTERCOM PROVIDENCE, LLC

		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	ENTERCOM SEATTLE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	ENTERCOM SPRINGFIELD, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	ENTERCOM WICHITA, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	ENTERCOM WILKES-BARRE SCRANTON, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	ENTERCOM ABE HOLDINGS, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

 [Signature Page to the First Supplemental Indenture] 

 
			
	ENTERCOM MIAMI, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM MIAMI LICENSE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM ATLANTA, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM ATLANTA LICENSE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM SAN DIEGO, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM SAN DIEGO LICENSE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President
	
	ENTERCOM DENVER II, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	Name: Andrew P. Sutor, IV
		 	Title: Executive Vice President

 [Signature Page to the First Supplemental Indenture] 

 
			
	 ENTERCOM DENVER II LICENSE, LLC

		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	DELAWARE EQUIPMENT HOLDINGS, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	ENTERCOM PROPERTIES, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	SMARTREACH DIGITAL, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	ENTERCOM LICENSE, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	ENTERCOM NEW YORK CITY, LLC
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

	
	ENTERCOM NEW YORK, INC.
		
	By:	 	 /s/ Andrew P. Sutor, IV

		 	 Name: Andrew P. Sutor, IV

		 	 Title: Executive Vice President

 [Signature Page to the First Supplemental Indenture] 

 
			
	DEUTSCHE BANK TRUST COMPANY
	AMERICAS, as Trustee
		
	By:	 	 /s/ Kathryn Fischer

		 	Name: Kathryn Fischer
		 	Title: Assistant Vice President
		
	By:	 	 /s/ Irina Golovashchuk

		 	Name: Irina Golovashchuk
		 	Title: Vice President

 [Signature Page to the First Supplemental Indenture]EX-10.3

 Exhibit 10.3 

FIRST AMENDMENT TO AMENDED 

AND RESTATED EMPLOYMENT AGREEMENT 

This First Amendment (this “Amendment”) is entered into as of November 16, 2017, between Entercom Communications Corp.,
a Pennsylvania corporation (the “Company”), and David J. Field (“Executive”) in order to amend as follows that certain Amended and Restated Employment Agreement, effective as of April 22, 2016, between the
Company and Executive (the “Employment Agreement”). 
 WHEREAS, the Company and Executive are parties to the Employment
Agreement; 
 WHEREAS, the parties agree to amend the Employment Agreement to extend the term and alter certain compensation terms thereof,
provided that such amendments shall be contingent on and effective as of the closing of the Company’s transaction with CBS Radio, Inc. (the “Closing Date”); 

NOW THEREFORE, in consideration of the mutual covenants set forth below, the receipt and sufficiency of which are hereby acknowledged, the
parties agree to amend the Employment Agreement as follows: 
 1.    Term. Section 3 of the Employment
Agreement is hereby amended in its entirety to read as follows: 
 “3.    Term. Unless
terminated earlier as provided in this Agreement, the term of this Agreement shall commence on the Effective Date and shall terminate and expire on the fourth anniversary of Closing Date (the “Initial Term”), provided that the
Initial Term shall automatically renew for additional twelve (12) month periods from year to year thereafter, unless either party gives at least one hundred twenty (120) days’ prior written notice of its election to either terminate
or to renegotiate the terms of this Agreement at the end of the Initial Term or any then current renewal term (the Initial Term and any subsequent renewal terms, collectively the “Employment Term”) .” 

2.    Compensation. 

2.1.    Section 4.2 of the Employment Agreement is hereby amended in its entirety to read as follows: 

“4.2.    Effective on the Company’s next full payroll cycle following the Closing Date, an annual
salary in the amount of one million two hundred thousand dollars ($1,200,000) to be paid consistent with the standard payroll practices of Employer in place from
time-to-time (the “Base Compensation”). Beginning on the first anniversary of the Closing Date and each anniversary thereafter during the Employment
Term, Executive’s Base Compensation shall be automatically increased by three percent (3%).” 

2.2.    Section 4.3 of the Employment Agreement is hereby amended in its entirety to read as follows: 

  
 1 

 “4.3 Executive shall have the opportunity to earn an annual performance bonus (the
“Annual Bonus”) to be determined by the Compensation Committee of the Board (the “Compensation Committee”) to be based on criteria to be established by the Compensation Committee in its discretion. For any fiscal
year of the Company, Executive’s target bonus amount under this Section 4.3 shall be two hundred percent (200%) of the Base Compensation for each such fiscal year; provided, however, that the Compensation Committee shall determine the
actual bonus amount to be paid for each such fiscal year based on the Company’s and Executive’s performance. Such Annual Bonus shall be payable as soon as reasonably practicable following, and in no event later than two and one-half (2  1⁄2) months following, the end of the fiscal year for which such Annual Bonus is earned.” 

3.    Equity Compensation. Section 5 of the Employment Agreement is hereby amended to add a new
Section 5.3, which shall provide as follows in its entirety: 
 “5.3.    Notwithstanding
anything in this Section 5 or in this Agreement to the contrary, following the Closing Date, Executive will be eligible to receive annual equity grants as may be determined by the Compensation Committee in its sole discretion based on the
Company’s and Executive performance.” 
 4.    No Other Changes to the Employment Agreement. Except as
expressly amended by this Amendment, all of the terms of the Employment Agreement shall remain in full force and effect. 
 IN WITNESS
WHEREOF, the parties have entered into this Amendment as of the date first set forth above. 
  

			
	 /s/ David J. Field

	David J. Field
	
	Date: November 16, 2017
	
	Entercom Communications Corp.
	
	 /s/ Andrew P. Sutor, IV

	Andrew P. Sutor, IV
	Executive Vice President, General Counsel
	
	Date: November 16, 2017

  
 2

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