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pressrelease.htm

  

  

  

Exhibit 10.1

 

	NEWS ANNOUNCEMENT 	 For Immediate Release

 

NEXSTAR BROADCASTING NAMES RICK ROGALA SENIOR VICE PRESIDENT OF SALES

- Thirty Year Broadcasting Veteran to Oversee Strategic Sales

Planning and Execution Regionally and Company-wide -

IRVING, Texas, December 5, 2011 – Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) announced today that Rick Rogala has been named Senior Vice President of Sales, a new position at the company.  Mr. Rogala’s appointment highlights Nexstar’s commitment to enhance the customer experience and foster positive relationships with clients and advertising partners across its on-air and digital platforms while supporting the Company’s goals for growth.  The appointment is effective immediately, and Mr. Rogala will report to Timothy Busch, Co-Chief Operating Officer of Nexstar Broadcasting.

Since 2009 Rogala served as Senior Vice President and Regional Manager at Nexstar with oversight of operations in eleven markets.  These responsibilities will be assumed by Timothy Busch and Brian Jones, Nexstar’s Co-Chief Operating Officers.  In his new role, Mr. Rogala will develop and implement new sales strategies and analytics to optimize the value of Nexstar’s on-air and online inventory and will work across the Nexstar organization with the Company’s managers, sales force and e-Media teams to administer policies and procedures to further enhance the effectiveness of the Company’s sales operations.

Mr. Rogala returned to Nexstar as a Senior Vice President and Regional Manager in 2009 after a two year role as Vice President and General Manager of Media General’s WCMH-TV in Columbus, Ohio.  Mr. Rogala first joined Nexstar in 2005 as Vice President/General Manager of KARK-TV where he led the station in restoring its market leading position and established a strong local brand.  Through his efforts and initiatives, KARK elevated its news programming and service to local advertisers which led to increased local revenue.  Mr. Rogala began his career in the television broadcast industry in 1982 and held broadcast management positions in Ohio, Indiana, Michigan and Florida prior to joining Nexstar.

 

 

Timothy Busch commented on the appointment, “Nexstar consistently leads the industry in revenue and new to television revenue growth and we recently marked the ninth consecutive quarter of year-over-year growth.  The creation of this new position squarely highlights our advertiser-centric focus as well as our goals for continued near- and long-term growth in our advertising supported revenue channels.

“Rick brings to his new position a deep understanding of industry dynamics, Nexstar’s strengths and a proven record of forging strong relationships between our staff, clients, advertisers, and the local communities where we operate.  With his extensive broadcast knowledge, leadership, and industry experience we are confident in his ability to develop and implement effective new sales strategies and new accounts.  We look forward to his contributions in his new role as we continue to deliver the most effective advertising solutions for clients and high quality local news, information and entertainment programming for viewers in our markets.”

Mr. Rogala added, “Nexstar’s commitment to local community viewers and advertisers is recognized throughout the broadcasting industry and I intend to extend that distinction in my new position.  In this role, I will leverage the management experience and relationships built over my career to generate results and further strengthen Nexstar’s position as a leading provider of effective advertising solutions.  I look forward to working with the sales team to develop new strategies while building on our already impressive record of client service excellence.”

Rick Rogala earned a BS in Communications from Ohio University in 1982 and was recognized with an American Women in Radio and Television (AWRT) award for “Excellence in Management” and a GEM award for “Nurturing Women in Leadership” from The Association for Women in Communications - Cincinnati chapter.

About Nexstar Broadcasting Group, Inc.

Nexstar Broadcasting Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, e-MEDIA, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 75 television stations and related digital signals in 36 markets in 16 states and reaches approximately 13.5 million viewers or approximately 11.6% of all U.S. television households.  72 of the stations are affiliates of NBC, CBS, ABC, FOX, MyNetworkTV, The CW, LATV, Azteca America, Telemundo and Bounce TV, the nation’s first over-the-air broadcast television network programmed for African-American audiences and three are independent stations.  The Company's 35 community portal websites offer additional hyper-local content and verticals for consumers and advertisers.

 

Forward-Looking Statements

 

This news release includes forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Forward-looking statements include information preceded by, followed by, or that includes the words "guidance," "believes," "expects," "anticipates," "could," or similar expressions.  For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.  The forward-looking statements contained in this news release, concerning, among other things, changes in net revenue, cash flow and operating expenses, involve risks and uncertainties, and are subject to change based on various important factors, including the impact of changes in national and regional economies, our ability to service and refinance our outstanding debt, successful integration of acquired television stations (including achievement of synergies and cost reductions), pricing fluctuations in local and national advertising, future regulatory actions and conditions in the television stations' operating areas, competition from others in the broadcast television markets served by the Company, volatility in programming costs, the effects of governmental regulation of broadcasting, industry consolidation, technological developments and major world news events.  Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this news release might not occur.  You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release.  For more details on factors that could affect these expectations, please see our filings with the Securities and Exchange Commission.

 

Contact:

 

	Timothy Busch 	 Joseph Jaffoni
	Co-COO/Executive Vice President 	 Jaffoni & Collins Incorporated
	 Nexstar Broadcasting Group, Inc.	 212/835-8500 or nxst@jcir.com
	585/224-8888, x8080 or tbusch@nexstar.tv 	 

 

 

# # #empagreement.htm

  

  

  

Exhibit 10.2

AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

This Amendment (“Amendment”) to that certain Executive Employment Agreement dated July 6, 2009 (“Agreement”), by and between Rick Rogala (“Executive”) and Nexstar Broadcasting, Inc. (“Company”) is hereby amended effective as of January 1, 2012 as follows:

1.           The second paragraph of the preamble is deleted in its entirety and replaced with the following:

“The Company desires to retain the services of Executive as Senior Vice President of Sales, and Executive desires to be employed by the Company in such capacity on the terms and conditions set forth in this Agreement.”

2.           Paragraph 1 of the Agreement is deleted in its entirety and replaced with the following:

 

“1.           Position and Duties.  Subject to the terms and conditions of this Agreement, during the term of this Agreement (which will commence on July 6, 2009), the Company will employ Executive.  Executive will serve as Senior Vice President of Sales.  In such position, Executive will perform such duties as are assigned to him from time to time by the Company’s chief executive officer (the “CEO”), the Co-Chief Operating Officer assigned direct oversight responsibility and/or its board of directors (the “Board”).  These duties shall include, but not be limited to: strategic development and growth of the Company’s overall core sales activities; review of, and development of, the Company’s sales policies and procedures to enhance the Company’s sales operations; and development of a long-term business sales strategy for the Company.  Executive will devote his best efforts to his employment with the Company and will devote substantially all of his business time and attention to the performance of his duties under this Agreement; provided that the foregoing will not preclude Executive from devoting reasonable time to the supervision of his personal investments, civic and charitable affairs, so long as such activities do not materially interfere with the performance of Executive's duties hereunder.”

 

3.           Paragraph 2 of the Agreement is deleted in its entirety and replaced with the following:

“2.           Term of Employment.     Unless terminated earlier as provided in Paragraph 3, the Company’s employment of Executive under this Agreement will continue until December 31, 2014, provided, however, that the term of employment under this Agreement will be automatically renewed for successive one-year periods (the first of which will commence on January 1, 2015) unless, at least ninety (90) days prior to the end of the then current term of employment under this Agreement, Executive or the Company gives written notice to the other of the notifying party’s intent not to renew the term of employment under this Agreement as of the end of the then current term.”

  

  

  

4.           Paragraph 4 is deleted in its entirety and replaced with the following:

“4.           Compensation.

(a) Base Salary.     During the term of this Agreement, Executive will be entitled to receive a base salary (“Base Salary”), to be paid ratably during each 12-month period under this Agreement on a basis consistent with other Company executives, at the annual rate specified below:

From January 1, 2012 through December 31, 2012                                                                                                $250,000

From January 1, 2013 through December 31, 2013                                                                                                $255,000

From January 1, 2014 through December 31, 2014                                                                                                $260,000

(b)           Bonus.                      

(i)           Executive will be entitled to receive quarterly and/or annual bonuses (any such payment a “Bonus”), in an amount, if any, up to the targeted amounts specified below [or in excess of such amounts, as the CEO, with the approval of the Compensation Committee of the Company’s board of directors (the “Compensation Committee”), may determine is appropriate], prorated for any partial fiscal quarter or year during which Executive is employed by the Company pursuant to this Agreement, to be determined by the CEO, with the approval of the Compensation Committee.

Quarterly Bonus amounts for the 2012 fiscal year:  $20,000 per quarter

Annual Bonus amount for the 2012 fiscal year:  $70,000

Quarterly Bonus amounts for the 2013 fiscal year:  $22,500 per quarter

Annual Bonus amount for the 2013 fiscal year:  $72,500

Quarterly Bonus amounts for the 2014 fiscal year:  $25,000 per quarter

Annual Bonus amount for the 2014 fiscal year:  $75,000

(ii)           Any Bonus shall be calculated, based on, among other things, Executive’s achievement of the quarterly and annual developmental revenue targets as set by the CEO or COO; achievement of the Company’s quarterly and annual new business revenue goals; focused targeted, specific market revenue achievement; and achievement of the Company’s quarterly and annual core revenue budgets (“core” shall be defined as local plus national revenue as reported on the Company’s financial statements) to be calculated using a comprehensive matrix consistent with the Company’s usual practices.  The specific quarterly and annual goals for the above components will be established in writing prior to the commencement of each fiscal year.”

  

  

  

(iii)           Each quarterly Bonus, if granted by the CEO and/or COO, will be paid in a single payment within thirty (30) days after the submission of the Company’s quarterly financial reports to the Securities and Exchange Commission (or if no SEC filings are required, after submission of the Company’s quarterly financial reports to the Company’s Board.  Each annual Bonus, if granted by the CEO and/or COO will be paid in a single payment within thirty (30) days after the independent certified public accountants regularly employed by the Company have made available to the Company the audited financial statements for the appropriate fiscal year. 

(c)           All payments under this Agreement will be subject to withholding or deduction by reason of the Federal Insurance Contribution Act, Federal income tax, state income tax and all other applicable laws and regulations.

5.           Headings.  The headings in the Paragraphs of this Amendment are inserted for convenience only and will not constitute a part of this Agreement.

 

6.           Severability.  The parties agree that if any provision of this Amendment is under any circumstances deemed invalid or inoperative, the Amendment will be construed with the invalid or inoperative provision deleted, and the rights and obligations of the parties will be construed and enforced accordingly.

 

7.           Governing Law.  This Amendment is governed by and construed in accordance with the internal law of the State of Delaware without giving effect to any choice of law or conflict provision or rule that would cause the laws of any jurisdiction other than the State of Delaware to be applied.

 

8.           Amendment; Modification.  This Amendment may not be amended, modified or supplemented other than in a writing signed by the parties hereto.

 

 

9.           Entire Agreement.  The Agreement as amended by this Amendment is hereby ratified in full and embodies the entire agreement between the parties hereto with respect to Executive’s employment with the Company, and there have been and are no other agreements, representations or warranties between the parties regarding such matters.

 

10.           Counterparts.  This Amendment may be executed in two or more counterparts, each of which will be deemed an original, but all of which together will constitute but one and the same instrument.

 

[Signature Page Follows]

 

  

  

  

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year written below.

 

 

 

	 /s/  Rick Rogala	 /s/ Perry A. Sook
	 Executive	 President & Chief Executive Officer
	 	 Nexstar Broadcasting, Inc.
	 Date:    December 2, 2011	 Date:    December 5, 2011

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