Document:

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EXHIBIT 10.22 - AMENDMENT TO EMPLOYMENT AGREEMENT

February 12, 2004

Brian Becker
848 Little John
Houston, Texas  77024

         Re:      Amendment to Employment Agreement

Dear Brian:

         This document is intended to memorialize the amendment of your
Employment Agreement, dated March 21, 2001, which remains effective through
February 13, 2006.

         Our signatures below confirm that we have agreed to modify the
Employment Agreement in Sections 1, 3 and 15 in their entirety and Sections 7
and 8 only as described below as follows:

1.       TERM OF EMPLOYMENT.

         The Executive's current Term of employment starts on August 1, 2000 and
ends on the close of business on February 13, 2006. The Term shall automatically
extend, beginning February 14, 2006, one day at a time unless either the Company
or the Executive notifies the other in writing that the Term will expire one
year following such notice of expiration. The Company or the Executive may give
such written notice of expiration at any time on or after, but not before,
February 13, 2005. If the Company notifies the Executive in writing that the
Term will expire one year following such notice, such notice given by the
Company to the Executive shall constitute the Company's termination without
Cause (as defined in Section 7(c)) of the Executive's employment with the
Company and the effective date of such termination without Cause shall be the
same date as the expiration date of the Term stated in such notice. If the
Executive notifies the Company in writing that the Term will expire one year
following such notice, such notice given by the Executive to the Company shall
constitute the Executive's termination without Good Reason (as defined in
Section 7(d)) of the Executive's employment with the Company and the effective
date of such termination without Good Reason shall be the same date as the
expiration date of the Term stated in such notice.

3.       COMPENSATION AND BENEFITS

         (l) ADDITIONAL STOCK OPTION GRANT. As additional, specific
consideration to Executive for entering into this Amendment, Executive shall
receive 25,000 options to purchase Clear Channel Stock subject to the terms and
conditions as set by the Board at its February 2004 meeting. Notwithstanding any
terms or conditions to the contrary

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contained in "Exhibit B" of the Employment Agreement, any future stock option
grants will be granted based upon the performance of the Executive, which will
be assessed in the sole discretion of the Company and the Compensation Committee
of the Board. All option grants shall be made under the terms and conditions set
forth in the applicable Clear Channel Communications Stock Option Plan under
which they are issued. The Company reserves the right to modify any future
Company incentive compensation or stock option plan with respect to the change
of control, the granting of restricted stock or any other provision of such
plans. The Company's obligations under this agreement to the Executive in the
area of stock options are conditioned upon and subject to the Company's future
decision, in its sole discretion, to: 1) alter, suspend or discontinue its stock
option grant program; or 2) replace the program with an alternative form or
method of compensation.

7.       TERMINATION.

         (c) TERMINATION BY THE COMPANY. The Company (i) may terminate the
Executive's employment with the Company for any reason upon one year's written
notice, or (ii) may terminate his employment with the Company for Cause. [The
remainder of the paragraph remains unchanged save for the first sentence
hereinabove]

         (d) TERMINATION BY THE EXECUTIVE. The Executive (i) may terminate his
employment with the Company for any reason upon one year's written notice to the
Company, or (ii) may terminate his employment for Good Reason. [The remainder of
the paragraph remains unchanged save for the first sentence hereinabove]

8.       COMPENSATION UPON TERMINATION.

         (d) TERMINATION BY THE COMPANY WITHOUT CAUSE OR TERMINATION BY THE
EXECUTIVE FOR GOOD REASON. If the Executive's employment with the Company is
terminated by the Company without Cause or if the Executive terminates his
employment with the Company for Good Reason, the Company will, within 30 days
after the effective date of such termination, ... [The remainder of the
paragraph remains unchanged save for the first sentence hereinabove]

         (g) NONCOMPETITION PAYMENT. If the Executive terminates his employment
with the Company pursuant to Section 7(d)(i), the Executive shall be and remain
subject to his noncompetition covenant contained in Section 5 of this Agreement
for a period of 12 months after the effective date of such termination in
consideration for the promise by the Company, during such 12 months period, to
pay to the Executive his annual base salary and any payments to which he may be
entitled under any applicable employee benefit plan (according to the terms
thereof). During such 12 months period, all payments under this Section 8(g)
shall be made by the Company to the Executive according to the Company's regular
payroll practice, prorated monthly or weekly where appropriate.

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15.      ARBITRATION.

         The parties agree that any dispute, controversy or claim, whether based
on contract, tort, statute, discrimination, retaliation, or otherwise, relating
to, arising from or connected in any manner to this Agreement, or to the alleged
breach of this Agreement, or arising out of or relating to Executive's
employment or termination of employment, shall, upon timely written request of
either party be submitted to and resolved by binding arbitration. The
arbitration shall be conducted in San Antonio, Texas. The arbitration shall
proceed in accordance with the National Rules for Resolution of Employment
Disputes of the American Arbitration Association ("AAA") in effect at the time
the claim or dispute arose, unless other rules are agreed upon by the parties.
Unless otherwise agreed to by the parties in writing, the arbitration shall be
conducted by one arbitrator who is a member of the AAA and who is selected
pursuant to the methods set out in the National Rules for Resolution of
Employment Disputes of the AAA. Any claims received after the
applicable/relevant statute of limitations period has passed shall be deemed
null and void. The award of the arbitrator shall be a reasoned award with
findings of fact and conclusions of law. Either party may bring an action in any
court of competent jurisdiction to compel arbitration under this Agreement, to
enforce an arbitration award, and to vacate an arbitration award. However, in
actions seeking to vacate an award, the standard of review to be applied by said
court to the arbitrator's findings of fact and conclusions of law will be the
same as that applied by an appellate court reviewing a decision of a trial court
sitting without a jury. The Company will pay the actual costs of arbitration
excluding attorney's fees. Each party will pay its own attorneys fees and other
costs incurred by their respective attorneys.

APPROVED AND AGREED:

DATE:                                         Brian E. Becker
     ---------------------

                                              /s/ BRIAN E. BECKER
                                              ----------------------------------

DATE:                                         Clear Channel Communications, Inc.
     ---------------------
                                              /s/ MARK P. MAYS
                                              ----------------
                                              Mark P. Mays
                                              President and Chief Operating
                                                Officer

cc:      Marvin D. Nathan
         Nathan Sommers Jacobs + Gorman, P.C.
         2800 Post Oak Blvd.  61st Floor
         Houston, Texas  77056exv10w87

 

Exhibit 10.87

February 11,2004

Mr. Gregory T. Mutz

8 Rock Ridge Road

Barrington Hills, IL 60010

Dear Greg:

     Confirming the substance of our various conversations, set forth below
is our mutual understanding with respect to the terms and conditions of your
separation from UICI (“UICI” or the “Company”):

     1.
Effective as of the close of business on December 31, 2003 (the
“Resignation Date”), you agree to resign as a director of UICI and each of the
other executive offices and boards of directors (and committees thereof) of
affiliates of UICI listed on Exhibit A attached hereto and all such other
executive offices, committees and/or directorships of entities affiliated with
UICI upon which you currently serve or which you currently hold.

     2. You will remain an employee of the Company during the month ended
January 31, 2004, for which you will be paid the amount of $42,500. On or about
February 16, 2004, the Company will deliver to you a check in the amount of
$7,238.46, representing $42,500 less the amount of payments already made to you
in January 2004 in the amount of $35,261.54. Effective January 31, 2004, your
employment with the Company will terminate. Thereafter, the Company agrees to
pay to you severance in the aggregate amount of $467,500, which amount shall be
payable in eleven equal monthly installments in the amount of $42,500, payable
on the last day of each month, commencing on February 28, 2004 with the last
installment payment due and owing on December 31, 2004. All such payments to
be made under this Paragraph 2 shall be subject to applicable federal and state tax withholding, FICA and Medicare taxes and other applicable
withholding.

     3. During
the period ending on December 31, 2004. you agree to fully
cooperate with the Company in any and all internal or external investigations,
subpoenas, requests for information, discovery requests, etc., and to make
yourself available upon the request of the Company to appear in any and all
administrative or judicial proceedings with respect to activities or claims
a rising prior to the expiration of the period ending January 31,
2004. UICI agrees
to pay you for your time at a reasonable rate and reimburse you for any out
of pocket expenses incurred in connection with any such assistance.

     4. In
accordance with and subject to the terms of UICI’s Certificate
of Incorporation and the Indemnification Agreement, dated as of August 4, 1999,
between UJCI and you, you shall be entitled to indemnification from the Company
(including advancement of expenses) for acts and omissions in your capacity as
an officer and director of UICI though the Resignation Date. As
provided in
the indemnification agreement, such rights to indemnification shall
survive the
Resignation Date for a period ending upon the later of- (a) fifteen years after
the Resignation Date or (b) 120 days after the final termination of all pending
proceedings in respect of which you are granted rights of
indemnification or
advancement of expenses thereunder.

 

 

Mr. Gregory T. Mutz

February 11, 2004

Page 2

     5. Commencing
on February 1, 2004 and ending on July 31, 2005 (the
“COBRA Period’’), you shall be entitled to participate in UICI’s self-insured
health plan in accordance with the terms of The Consolidated Omnibus Budget
Reconciliation Act of 1986 (“COBRA”) at you sole cost and expense.

     6
.. In accordance with the terms of the UICI Amended and Restated
1987 Stock Option Plan, (a) you shall have ninety (90) days following January
31, 2004 to exercise any or all options to acquire UICI common stock
that were
vested and exercisable on January 31, 2004, and (b) all options not then
vested and exercisable on January 31, 2004 shall immediately
terminate and be of
no further force or effect.

     7
.. Set forth below is our understanding with respect to the
confidentiality of certain proprietary information of the
Company;

     7.1. You acknowledge that by reason of your employment by the Company and its
affiliates, you have had and will have access to confidential and proprietary information of the Company, including, without limitation, client and customer lists,
developments, information pertaining to services and products,
improvements of new or existing services and products, know-how, specifications, profit and other financial figures, and other information treated as
proprietary sources or confidential by the Company which is not otherwise readily available from public or published sources. For a period ending on December 31, 2004, you agree that you will
maintain in confidence all such confidential or proprietary
information and that you will not, for any reason, during your
engagement by the Company or thereafter, directly or
indirectly, use for your benefit, or for any person, firm, corporation, partnership, joint venture or other entity whatsoever, or disclose to any person, firm, corporation, partnership,
joint venture or other entity whatsoever, any confidential or proprietary information relating to the business or affairs of the Company without the prior written authorization of the Company. Notwithstanding
the foregoing, nothing hereunder shall prohibit you from disclosing
(i) information that has become generally available to the public
other than as a result of disclosure by you or (ii) information required
to be disclosed by applicable law or legal process, provided that UICI shall have been afforded
reasonable notice in advance of such disclosure and is afforded the opportunity to contest the scope of any legal request to require such disclosure.

     7.2. Without limiting the generality of the foregoing, each
of the parties to this Agreement agrees that he or it will keep the
facts, terms of and amounts payable under this Agreement completely
confidential and that they will not hereafter disclose any
information concerning this Agreement to any third party, provided that
any party hereto may make such disclosures as are required by law and
as are necessary for legitimate law enforcement or compliance purposes.
Any inquiry regarding any aspect of your employment with the Company
by anyone not a party hereto, excepting accountants, attorneys and
those who must be advised as a matter of fiduciary responsibility
shall be responded to by stating only that any issues relating
thereto have been “resolved.”

     8
.. This Agreement shall be binding upon and inure to the benefit of
you and the Company and their respective heirs, executors, administrators,
successors and assigns.

     9. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Texas. Each of you and the Company
hereby submits to the exclusive jurisdiction of the United States District Court
for the Northern District of Texas and of any Texas state court sitting in Dallas, Texas for the purposes of all legal proceedings arising our of or relating to the Agreement or the
transactions contemplated hereby.

 

 

Mr. Gregory T. Mutz

February 11, 2004

Page 3

     10. The
arrangement contemplated by this Agreement constitutes a
“related party transaction” in accordance with the terms of policies and
procedures established by the UICI Board of Directors, and accordingly, the
effectiveness of this Agreement and the arrangement contemplated hereby are
expressly subject to the approval of a majority of the outside disinterested
directors of UICI (which approval was granted at a meeting of the Board of
Directors held on February 11, 2004).

Kindly acknowledge your
agreement to the foregoing by signing and returning to the
undersigned the enclosed copy of this Agreement.

	 	 	 	 	 
	 	Very truly yours,

UICI

 	 
	 	By:  	/s/ William J. Gedwed
 	 
	 	 	William J. Gedwed

President and Chief Executive Officer 	 
	 	 	 	 
	 

WJG:cjc

Agreed and acknowledged this
17th day of February, 2004.

/s/ Gregory T. Mutz

Gregory T. Mutz

 

 

EXHIBIT A

	 	 	 
	UICI Affiliate
	 	Position

	UICI

	 	Director, Vice Chairman
	AMLI Realty Co.

	 	Director; Chairman of the Board
	UICI Acquisition Co.

	 	Director; President

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