Document:

<PAGE>
                                                                     Exhibit 4.2

                                VOTING AGREEMENT

         THIS VOTING AGREEMENT ("Agreement") is made as of the 30th day of June,
1998, by and between NATIONSBANC CAPITAL CORP. ("NationsBanc"), CUMULUS MEDIA
INC., an Illinois corporation (the "Corporation"), and the undersigned holders
(the "Shareholders") of all of the issued and outstanding shares of Class C
Common Stock of the Corporation ("Class C Stock") or options to acquire Class C
Stock.

                                    RECITALS

         NationsBanc is the holder of certain shares of the common stock of the
Corporation. The Articles of Incorporation of the Corporation provide that under
certain circumstances the holders of Class C Stock shall have the right to elect
a Director of the Corporation (the "Class C Director"), and the Shareholders
have agreed with NationsBanc that such Class C Director shall, during the period
specified herein, be the person designated by NationsBanc. Accordingly, the
parties wish to set forth their agreement with respect to the election of the
Class C Director.

         NOW, THEREFORE, in consideration of the mutual promises and agreements
hereinafter set forth, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby promise and agree as follows:

1. Definitions. For the purposes of this Agreement, the following capitalized
terms shall be defined as follows:

         "AFFILIATE" shall be defined as set forth in Rule 144 promulgated under
         the Securities Act of 1933, as amended.

         "APPLICABLE PERIOD" shall mean the period commencing on the date of the
         issuance of a final order of the Federal Communications Commission
         ("FCC") that the granting of a right to NationsBanc to designate a
         director of the Corporation will not result in NationsBanc's interest
         in the Corporation being "attributable" under applicable FCC rules, and
         ending on the date that NationsBanc (together with its Affiliates) owns
         less than fifty percent (50%) of the number of shares of Common Stock
         held by NationsBanc on the date hereof.

         "COMMON STOCK" shall mean the Class A Common Stock, Class B Common
         Stock, and Class C Common Stock of the Corporation, each with a par
         value per share of $.01.

         "DESIGNATED CLASS C DIRECTOR" shall initially be Robert H. Sheridan,
         III. NationsBanc may, at any time and from time to time, change the
         Designated Class C Director by written notice to all Shareholders (a)
         stating that the then existing Class C Director (identified by name)
         shall no longer be the Designated Class C Director, (b) identifying the
         person designated to be the new Designated Class C Director, and (c)
         specifying the effective date of such designation. If the person
         designated as the Designated Class C Director is unable or unwilling to
         serve as the Class C Director then NationsBanc shall promptly give
         written notice of a new Designated Class C Director to all
         Shareholders,
<PAGE>
         and until such notice is given the Shareholders shall have no
         obligation to elect a Class C Director.

2.       Election of Director. Each Shareholder agrees that it shall, during the
         Applicable Period:

         a. appear in person or by proxy at each special meeting of the holders
         of Class C Stock and each regular meeting of the shareholders of the
         Company at which a Class C Director is to be elected ("Class C
         Meeting"), for the purpose of obtaining a quorum;

         b. at each Class C Meeting, vote, in person or by proxy, all of the
         shares of Class C Stock now owned or hereafter acquired by the
         Shareholder in favor of the election of the Designated Class C
         Director;

         c. in any action by written consent of the holders of Class C Stock for
         the purpose of electing a Class C Director, consent to the election of
         the Designated Class C Director; and

         d. not vote any of its shares of Class C Stock for, or execute any
         consent to the election of, any Class C Director other than the
         Designated Class C Director.

3. Revocation of Proxies. Each Shareholder hereby revokes all proxies and powers
of attorney with respect to the Class C Stock held by such Shareholder which
such Shareholder may have heretofore appointed or granted with respect to the
election of the Class C Director, and during the term hereof no subsequent proxy
or power of attorney shall be given or written consent executed (and if given or
executed, such proxy or power of attorney shall not be effective) by such
Shareholder with respect to the election of the Class C Director. Nothing in
this Agreement shall be deemed to prohibit or limit the granting by any
Shareholder of any proxy or power of attorney for any Class C Stock for any
purpose other than the election of a Class C Director.

4. Issuance of Shares. The Company agrees that during the Applicable Period it
shall not issue any shares of Class C Stock unless prior to the issuance of such
shares the person or entity to whom such shares of Class C Stock are to be
issued has executed a counterpart of this Agreement and any amendments hereto,
agreeing to be bound by the provisions hereof as a Shareholder hereunder, and
copies of such executed counterpart have been sent to each party hereto.

5. Termination. This Agreement shall terminate immediately upon the expiration
of the Applicable Period, and upon such termination the parties hereto shall
have no further rights or obligations hereunder.

6. Remedies. This Agreement is a "voting agreement" as described in Section 7.70
of the Illinois Business Corporation Act of 1983, as amended. Each Shareholder
acknowledges that it may not be possible to measure in monetary terms the
damages which NationsBanc would suffer by reason of a failure by any Shareholder
to perform such Shareholder's obligations under this Agreement. Accordingly,
should any dispute arise concerning any Shareholder's proper
<PAGE>
performance of such Shareholder's obligations under this Agreement, NationsBanc
shall be entitled to obtain an injunction for specific performance, or other
appropriate equitable relief, requiring such Shareholder to act in accordance
with the terms hereof. Any such equitable remedy shall be non-exclusive and may
be in addition to any other remedy to which NationsBanc may be entitled.

7. Successors. Any Shareholder who transfers shares of Class C Stock shall,
prior to and as a condition to such transfer, (a) notify the transferee of the
existence and terms of this Agreement, and (b) obtain the execution by such
transferee of a counterpart of this Agreement and any amendments hereto,
agreeing to be bound by the provisions hereof as a Shareholder hereunder.

8. Representation. The Corporation and the Shareholders warrant and represent,
which warranties and representations shall survive the execution hereof, that
the Shareholders own all Class C Common Stock and all options to acquire Class C
Stock which are issued and outstanding as of the date hereof.

9. Notices. Any notice required or permitted to be given or made by any party to
any other hereunder shall be in writing and shall be considered to be given and
received in all respects when hand delivered, when delivered by prepaid express
or courier delivery service, when sent by facsimile transmission actually
received by the receiving equipment, or five (5) days after deposited in the
United States mail, certified or registered mail, postage prepaid, in each case
addressed to the parties at their respective addresses set forth opposite their
signatures to this Agreement or to such changed address as any party shall
designate by proper notice to the other parties.

10. Governing Law. This Agreement and the rights and remedies of the parties
hereto shall be governed by and construed in accordance with the laws of the
State of Illinois, without regard to the conflicts of laws provisions thereof.

11. Legend. Each certificate representing shares of Class C Stock shall bear a
legend stating that the shares are subject to this Agreement.

12. Counterparts. This Agreement may be executed in counterparts, each of which
shall be deemed an original but when taken together shall constitute but one and
the same document.

13. Waiver. No waiver by any party hereto of any breach of any provision of this
Agreement shall be deemed a waiver by such party of any subsequent breach.

14. Entire Agreement. This Agreement contains the entire understanding between
the parties hereto with respect to the matters set forth herein and all prior
discussions, negotiations, agreements, correspondence and understandings between
the parties (whether oral or written) relating to the terms of this agreement
are merged herein and superseded hereby. No provision of this Agreement may be
amended or modified other than by a writing signed by the party against whom
enforcement is sought.
<PAGE>
15. Invalidity. If for any reason one or more of the provisions of this
Agreement are deemed by a court of competent jurisdiction to be unenforceable or
otherwise waived by operation of law, the remainder of this Agreement shall be
deemed to be valid and enforceable and shall be construed as if such invalid and
unenforceable provision were omitted.

16. Headings. The paragraph headings used in this Agreement are for convenience
only and shall not affect in any way the meaning or interpretation of this
Agreement.
<PAGE>
         IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
the date above first written.

<TABLE>
<S>                                                  <C>
Attn:  Mr. Robert H. Sheridan, III                   NATIONSBANC CAPITAL CORP.
NationsBanc Capital Investors
100 North Tryon Street
NationsBanc Corporate Center, 10th Floor
NC1-007-10-04                                        By:   /s/
Charlotte, NC  28255                                       --------------------------------------------
FAX:  (704) 386-6432                                       Robert H. Sheridan, III   (title)

Attn:  Mr. Richard Weening                           CUMULUS MEDIA INC.
Cumulus Media Inc.
111 E. Kilbourn Avenue, Suite 2700
Milwaukee, WI  53202                                 By:   /s/
FAX:  (414) 615-2880                                       --------------------------------------------
                                                           Richard Weening, Executive Chairman

                                                     SHAREHOLDERS:

Attn:  Mr. Richard Weening                           QUAESTUS MANAGEMENT CORPORATION
QUAESTUS Management Corporation
111 E. Kilbourn Avenue, Suite 2700
Milwaukee, WI  53202                                 By:   /s/
FAX:  (414) 615-2880                                       --------------------------------------------
                                                           Richard Weening, President

Attn:  Mr. Lewis W. Dickey, Jr.                      DBBC OF GEORGIA, LLC
DBBC of Georgia, LLC
3060 Peachtree Road N.W.
Suite 750                                            By:   /s/
Atlanta, GA  30305                                         --------------------------------------------
FAX:  (404) 688-3024                                       Lewis W. Dickey, Jr.               (title)
</TABLE>

(signatures continued on next page)
<PAGE>
<TABLE>
<S>                                                  <C>
                                                     CML HOLDINGS, LLC
CML Holdings, LLC
111 E. Kilbourn Avenue, Suite 2700
Milwaukee, WI  53202                                 By:   /s/
(414) 615-2880                                             ---------------------------------------

c/o Cumulus Media Inc.
111 E. Kilbourn Avenue, Suite 2700
Milwaukee, WI  53202
FAX:  (414) 615-2880                                 /s/
                                                     --------------------------------------------
                                                     Richard Weening

c/o DBBC of Georgia, LLC
3060 Peachtree Road N.W.
Suite 750
Atlanta, GA  30305                                   /s/
FAX:  (404) 688-3024                                 --------------------------------------------
                                                     Lewis W. Dickey, Jr.
</TABLE><PAGE>
                                                                    EXHIBIT 10.1

                    AMENDED AND RESTATED EMPLOYMENT AGREEMENT

         This AMENDED AND RESTATED EMPLOYMENT AGREEMENT, dated as of July 1,
2001 (this "Agreement"), between CUMULUS MEDIA INC., an Illinois corporation
(the "Company"), and LEWIS W. DICKEY, JR. (the "Executive").

                              W I T N E S S E T H:

         WHEREAS, the Company is a radio broadcasting company focused on the
acquisition, operation and development of radio stations in mid-size and smaller
radio markets;

         WHEREAS, the Company and the Executive previously entered into an
employment agreement dated May, 1998 ("Prior Agreement");

         WHEREAS, it is intended that the Executive will continue to serve the
Company as its Executive Vice Chairman and as a Director of the Company
following the execution and delivery of this Agreement and that this Agreement,
except as provided in Section 15, shall amend and restate and, thus, supercede
the Prior Agreement; and

         WHEREAS, the Company wishes to assure itself of the continued services
of the Executive so that it will have the benefit of his ability, experience and
services, and the Executive is willing to enter into this Agreement to that end,
upon the terms and conditions hereinafter set forth.

         NOW, THEREFORE, in consideration of good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereby
covenant and agree as follows:

1. EMPLOYMENT

         The Company hereby agrees to continue to employ the Executive, and the
Executive hereby agrees to continue to remain in the employ of the Company, on
and subject to the terms and conditions of this Agreement.

2. TERM

         The period of this Agreement (the "Agreement Term") shall commence on
the date hereof and shall expire on the third anniversary of the date hereof
(the "Initial Term"). The Agreement Term shall be automatically extended for an
additional year at the expiration of the Initial Term, or any succeeding term,
unless written notice of non-extension is provided by either party to the other
party at least 180 days prior to the expiration of the Initial Term or any
succeeding term, as the case may be. The period of the Executive's employment
under this Agreement (the "Employment Period") shall commence as of the date
hereof and shall expire at the end of the Agreement Term, unless terminated or
extended in accordance with the terms and conditions of this Agreement.

<PAGE>

3. POSITION, DUTIES AND RESPONSIBILITIES

         (a)      The Executive shall serve as, and with the title, office and
                  authority of, the Chairman of the Board of Directors,
                  President and Chief Executive Officer of the Company. The
                  Executive shall also hold similar titles, offices and
                  authority with the Company's subsidiaries and its successors.
                  The Company shall use its best efforts to cause the Executive
                  to be nominated and elected to the Board of Directors of the
                  Company (the "Board") and of its subsidiaries and its
                  successors for the duration of the Employment Period.

         (b)      The Executive shall have effective supervision and control
                  over, and responsibility for, the strategic direction and
                  general and active day-to-day leadership and management of the
                  business and affairs of the Company and the subsidiaries of
                  the Company, subject only to the authority of the Board, and
                  shall have all of the powers, authority, duties and
                  responsibilities usually incident to the position and office
                  of Chairman of the Board of Directors, President and Chief
                  Executive Officer of the Company. The Executive shall report
                  directly to the Board.

         (c)      The Executive agrees to devote substantially all of his
                  business time, efforts and skills to the performance of his
                  duties and responsibilities under this Agreement; provided,
                  however, that nothing in this Agreement shall preclude the
                  Executive from devoting reasonable periods required for (i)
                  participating in professional, educational, philanthropic,
                  public interest, charitable, social or community activities,
                  (ii) serving as a director or member of an advisory committee
                  of any corporation or other entity that the Executive was
                  serving on as of the date of the Prior Agreement or any other
                  corporation or entity that is not in competition with the
                  Company, (iii) managing his personal investments or (iv)
                  performing such services as are consistent with his position
                  with Stratford Research, Inc.; provided, further, that any
                  such activities set forth in clauses (i) through (iv) above do
                  not materially interfere with the Executive's regular
                  performance of his duties and responsibilities hereunder.

         (d)      The Executive shall perform his duties at the offices of the
                  Company located in Atlanta, Georgia, but from time to time the
                  Executive may be required to travel to other locations in the
                  proper conduct of his responsibilities under this Agreement.

4. COMPENSATION AND BENEFITS

         In consideration of the services rendered by the Executive during the
Employment Period, the Company shall pay or provide the Executive the
compensation and benefits set forth below.

         (a)      SALARY. The Company shall pay the Executive a base salary (the
                  "Base Salary") equal to $500,000 per annum during the first 12
                  months of the Agreement Term. In its sole discretion, the
                  Compensation Committee of the Board (the "Compensation
                  Committee") may review the Base Salary with a view

                                       2
<PAGE>

                  toward consideration of merit increases as the Compensation
                  Committee deems appropriate. The 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.

         (b)      INCENTIVE BONUSES. The Company shall provide the Executive
                  with the opportunity to earn an annual target bonus of up to
                  50% of his Base Salary (the "Target Bonus Amount") for each
                  fiscal year of the Company ending during the Employment
                  Period. An amount up to the Target Bonus Amount will be
                  payable to the Executive in the event that the annual bonus
                  targets established by the Compensation Committee (in
                  consultation with the Executive) are met during the relevant
                  year. Any Target Bonus Amount shall be paid as promptly as
                  practicable following the calculation of the broadcast cash
                  flow for the preceding calendar year. The Executive shall
                  participate in all other short-term and long-term bonus or
                  incentive plans or arrangements in which other senior
                  executives of the Company are eligible to participate from
                  time to time with the Executive's short-term and long-term
                  bonus or incentive compensation opportunities under such plans
                  and arrangements to be determined by the Compensation
                  Committee.

         (c)      EMPLOYEE BENEFITS. The Executive shall be entitled to
                  participate in all employee benefit plans, programs, practices
                  or arrangements of the Company in which other senior
                  executives of the Company are eligible to participate from
                  time to time, including, without limitation, any qualified or
                  non-qualified pension, profit sharing and savings plans, any
                  death benefit and disability benefit plans, any medical,
                  dental, health and welfare plans and any stock purchase
                  programs that are approved by the Compensation Committee on
                  terms and conditions at least as favorable as provided to
                  other senior executives of the Company.

         (d)      FRINGE BENEFITS AND PERQUISITES. The Executive shall be
                  entitled to all fringe benefits and perquisites that are
                  generally made available to senior executives of the Company
                  from time to time that are approved by the Compensation
                  Committee. In addition, the Executive shall receive a car
                  allowance of $1,000 per month.

5. EQUITY INCENTIVES

         As further consideration for the services rendered by the Executive
during the Employment Period, the Executive shall be granted time-vested stock
options (the "Time-Vested Options") and performance stock options (the
"Performance Options") to purchase shares of the Company's Class A common stock
(the "Common Stock") on the terms and conditions set forth below.

         (a)      TIME-VESTED OPTIONS. In connection with the annual grants to
                  be made in 2002, Time-Vested Options to purchase 250,000
                  shares of Common Stock shall be granted to the Executive. In
                  addition, in connection with the annual grants to be made in
                  2003 and 2004, Time-Vested Options to purchase an additional
                  250,000 shares of Common Stock shall be granted to the
                  Executive in each year;

                                       3
<PAGE>

                  provided however, that the grants in 2003 and 2004 shall be
                  made only if and to the extent that the percentage dilution
                  represented by the number of all then outstanding options to
                  employees of the Company (including any grants made pursuant
                  to this Agreement) divided by the number of shares of Common
                  Stock then outstanding would be no greater than the percentage
                  dilution, as of the date of this Agreement, represented by the
                  number of all then outstanding options to employees of the
                  Company (excluding any grants made pursuant to this Agreement)
                  divided by the number of shares of Common Stock then
                  outstanding. In the event that the grants in 2003 and/or in
                  2004 cannot be made, in whole or in part, due to the preceding
                  sentence, the Company and the Executive shall in good faith
                  negotiate the terms of a substitute compensatory arrangement.
                  Except as otherwise provided for in this Agreement, all
                  Time-Vested Options granted pursuant to this section shall
                  vest based on the continued employment of the Executive in
                  equal quarterly installments of 1/16 of the number of subject
                  shares on the last day of each of the 16 consecutive calendar
                  quarters ending following the date of grant. The exercise
                  price of the Time-Vested Options shall be the market price per
                  share on the date of each grant. The Time-Vested Options shall
                  have a 10-year term of exercise and, except as otherwise
                  provided in this Agreement, shall remain exercisable following
                  vesting for the full term without regard to the employment
                  status of the Executive. The Time-Vested Options shall be
                  intended to qualify as an "incentive stock option" to the
                  maximum extent permissible under Section 422 of the Internal
                  Revenue Code of 1986, as amended (the "Code").

         (b)      PERFORMANCE OPTIONS. In connection with the annual grants to
                  be made in 2002, Performance Options to purchase 250,000
                  shares shall be granted to the Executive and, in connection
                  with the annual grants to be made in 2003 and 2004,
                  Performance Options to purchase an additional 250,000 shares
                  shall be granted to the Executive in each year; provided
                  however, that the grants in 2003 and 2004 shall be made only
                  if and to the extent that the percentage dilution represented
                  by the number of all then outstanding options to employees of
                  the Company (including any grants made pursuant to this
                  Agreement) divided by the number of shares of Common Stock
                  then outstanding would be no greater than the percentage
                  dilution, as of the date of this Agreement, represented by the
                  number of all then outstanding options to employees of the
                  Company (excluding any grants made pursuant to this Agreement)
                  divided by the number of shares of Common Stock then
                  outstanding. In the event that the grants in 2003 and/or in
                  2004 of Time-Vested Options or Performance Options cannot be
                  made in part due to the preceding sentence, the Time-Vested
                  Options shall be granted prior to the grant of the Performance
                  Options to the extent they may be granted under the test
                  contained in the foregoing proviso. To the extent Performance
                  Options are not granted by virtue of the application of such
                  proviso, the Company and the Executive shall in good faith
                  negotiate the terms of a substitute compensatory arrangement.
                  Each grant of Performance Options shall be subject to the
                  terms of the stock option agreement which will accompany the
                  grant and will be entered into between the Company and the
                  Executive, provided, however, that the terms contained in such
                  stock option agreement shall be consistent with the terms of
                  this

                                       4
<PAGE>

                  Agreement. Except as otherwise provided for in this Agreement,
                  all Performance Options granted pursuant to this Section
                  shall, on the last day of each of the four consecutive fiscal
                  years ending following the date of grant, vest in equal annual
                  installments of 1/4 of the number of subject shares, provided
                  that (i) for such fiscal year the Company has achieved its
                  Board approved EBITDA budgeting goals for such year; and (ii)
                  the Executive has remained in the continuous employment of the
                  Company. Any Performance Options that have not vested pursuant
                  to the preceding sentence shall vest on the eighth anniversary
                  of the date of grant, provided the Executive has remained in
                  the continuous employment of the Company through such date.
                  The exercise price of the Performance Options shall be the
                  market price per share on the date of each grant. The
                  Performance Options shall have a 10-year term of exercise and,
                  except as otherwise provided for in this Agreement, shall
                  remain exercisable following vesting for the full term without
                  regard to the employment status of the Executive. The
                  Performance Options shall be intended to qualify as an
                  "incentive stock option" to the maximum extent permissible
                  under Section 422 of the Code.

         (c)      CHANGE IN CONTROL. In the event of a Change in Control, as
                  defined in Section 8(c) hereof, the unvested portion of any
                  Time-Vested Options and any Performance Options shall become
                  immediately and fully vested and exercisable, and shall remain
                  exercisable for the full term thereof. This accelerated
                  vesting provision shall apply only to Time Vested Options and
                  Performance Options that have been granted as of the date
                  triggering acceleration and shall have no force or effect with
                  respect to any options described herein which are not then
                  issued.

         (d)      OTHER EQUITY INCENTIVES. In addition to the foregoing stock
                  option grants, the Executive shall be given consideration from
                  time to time by the Compensation Committee for the grant of
                  stock options or other equity incentives with respect to the
                  Common Stock under any stock option or equity-based incentive
                  plan or arrangement of the Company approved by the
                  Compensation Committee for which senior executives of the
                  Company are eligible to participate.

6. TERMINATION OF EMPLOYMENT

         The Employment Period will be terminated upon the happening of any of
the following events:

         (a)      RESIGNATION FOR GOOD REASON. The Executive may voluntarily
                  terminate his employment hereunder for Good Reason. For
                  purposes of this Agreement, "Good Reason" shall mean:

                  (i)      the assignment to the Executive of any duties
                           inconsistent with the Executive's position (including
                           status, offices, titles or reporting relationships),
                           authority, duties or responsibilities as contemplated
                           by Section 3 hereof, any adverse change in the
                           Executive's reporting responsibilities, or any action
                           by the Company that results in a diminution in such
                           position, authority, duties or responsibilities, but
                           excluding for

                                       5
<PAGE>

                           these purposes an isolated and insubstantial action
                           not taken in bad faith and which is remedied by the
                           Company promptly after receipt of notice thereof
                           given by the Executive;

                  (ii)     the failure of the Company to nominate the Executive
                           to the Board or the failure of the Board to recommend
                           that the Company's stockholders elect the Executive
                           to the Board;

                  (iii)    any failure by the Company to comply with the
                           compensation and benefits provisions of Sections 4 or
                           5 hereof or to comply with any other material
                           obligation of the Company under this Agreement,
                           including, without limitation, any failure by the
                           Company to obtain an assumption of this Agreement by
                           a successor corporation as required under Section 13
                           (a) hereof;

                  (iv)     a notice of non-extension of the Agreement Term given
                           by the Company to the Executive as set forth in
                           Section 2 hereof prior to the expiration of the
                           Initial Term; or

                  (v)      the relocation, without the consent of the Executive,
                           of the Executive's office to a location more than 40
                           miles from its current location in Atlanta, Georgia.

However, in no event shall the Executive be considered to have terminated his
employment for "Good Reason" unless and until the Company receives written
notice from the Executive identifying in reasonable detail the acts or omissions
constituting "Good Reason" and the provision of this Agreement relied upon, and
such acts or omissions are not cured by the Company to the reasonable
satisfaction of the Executive within 15 days of the Company's receipt of such
notice.

         (b)      RESIGNATION WITHOUT GOOD REASON. The Executive may voluntarily
                  terminate his employment hereunder for any reason at any time,
                  including for any reason that does not constitute Good Reason.

         (c)      TERMINATION FOR CAUSE. The Company may terminate the
                  Executive's employment hereunder for Cause. For purposes of
                  this Agreement, the Executive shall be considered to be
                  terminated for "Cause" only upon (i) the conviction of the
                  Executive of a felony under the laws of the United States or
                  any state thereof, whether or not appeal is taken, (ii) the
                  conviction of the Executive for a violation of criminal law
                  involving the Company and its business, (iii) the willful
                  misconduct of the Executive, or the willful or continued
                  failure by the Executive (except as provided in Section 6(e)
                  hereof) to substantially perform his duties hereunder, in
                  either case which has a material adverse effect on the
                  Company; or (iv) the willful fraud or material dishonesty of
                  the Executive in connection with his performance of duties to
                  the Company. However, in no event shall the Executive's
                  employment be considered to have been terminated for "Cause"
                  unless and until the Executive receives a copy of a resolution
                  adopted by the

                                       6
<PAGE>

                  Board finding that, in the good faith opinion of the Board,
                  the Executive is guilty of acts or omissions constituting
                  Cause, which resolution has been duly adopted by an
                  affirmative vote of a majority of the Board, excluding the
                  Executive and any individual alleged to have participated in
                  the acts constituting "Cause." Any such vote shall be taken at
                  a meeting of the Board called and held for such purpose, after
                  reasonable written notice is provided to the Executive setting
                  forth in reasonable detail the facts and circumstances claimed
                  to provide a basis of termination for Cause and the Executive
                  is given an opportunity, together with counsel, to be heard
                  before the Board. The Executive shall have the opportunity to
                  cure any such acts or omissions (other than items (i) or (ii)
                  above) within 15 days of the Executive's receipt of such
                  resolution. The foregoing shall not limit the right of the
                  Company to suspend the Executive from his day-to-day
                  responsibilities with the Company pending the completion of
                  such notice and cure procedures.

         (d)      TERMINATION WITHOUT CAUSE. The Board shall have the right to
                  terminate the Executive's employment hereunder other than for
                  Cause at any time, subject to the consequences of such
                  termination as set forth in this Agreement.

         (e)      DISABILITY. The Executive's employment hereunder shall
                  terminate upon his Disability. For purposes of this Agreement,
                  "Disability" shall mean the inability of the Executive to
                  perform his duties to the Company on account of physical or
                  mental illness or incapacity for a period of four and one-half
                  consecutive months, or for a period of 135 calendar days,
                  whether or not consecutive, during any 365 day period, as a
                  result of a condition that is treated as a total or permanent
                  disability under the long-term disability insurance policy of
                  the Company that covers the Executive. The Executive's
                  employment hereunder shall be deemed terminated by reason of
                  Disability on the last day of the applicable period; provided,
                  however, in no event shall the Executive be terminated by
                  reason of Disability unless the Executive receives written
                  notice from the Company, at least 15 days in advance of such
                  termination, stating its intention to terminate the Executive
                  for reason of Disability.

         (f)      DEATH. The Executive's employment hereunder shall terminate
                  upon his death.

7. COMPENSATION UPON TERMINATION OF EMPLOYMENT

         In the event the Executive's employment by the Company is terminated
during the Agreement Term, the Executive, in addition to any benefits provided
pursuant to Section 15, shall be entitled to the severance payments and benefits
specified below:

         (a)      RESIGNATION FOR GOOD REASON; TERMINATION WITHOUT CAUSE. In the
                  event the Executive voluntarily terminates his employment
                  hereunder for Good Reason or is terminated by the Company
                  other than for Cause, death or Disability, the Company shall
                  pay the Executive and provide him with the following:

                                       7
<PAGE>

                  (i)      ACCRUED RIGHTS. Upon the Executive's termination of
                           employment, the Company shall pay the Executive a
                           lump-sum amount equal to the sum of (A) his earned
                           but unpaid Base Salary through the date of
                           termination, (B) any earned but unpaid Target Bonus
                           Amount for any completed fiscal year, and (C) any
                           unreimbursed business expenses or other amounts due
                           to the Executive from the Company as of the date of
                           termination. The Company shall also pay to the
                           Executive, upon the final preparation of the
                           Company's audited financial statements for the year
                           in which termination of employment occurs, an
                           additional lump-sum amount calculated based on the
                           degrees of achievement of the bonus target applicable
                           to the Target Bonus Amount for such year, determined
                           in accordance with the terms of the bonus plan for
                           such year but prorated on a daily basis to reflect
                           the partial year of service. In addition, the Company
                           shall provide to the Executive all payments, rights
                           and benefits due as of the date of termination under
                           the terms of the Company's employee and fringe
                           benefit plans and programs in which the Executive
                           participated during the Employment Period (together
                           with the lump-sum payments described above, the
                           "Accrued Rights").

                  (ii)     SEVERANCE PAYMENT. The Company shall pay the
                           Executive the greater of (A) the amount equal to the
                           aggregate Base Salary payments (at the rate in effect
                           at the time of termination) that remain payable to
                           the Executive from the date of termination until the
                           expiration of the Agreement Term, or (B) the amount
                           equal to the sum of (1) the annual Base Salary in
                           effect at the time of termination and (2) the amount
                           of the annual bonus paid to the Executive pursuant to
                           Section 4(b) hereof for the fiscal year ended
                           immediately prior to the year of termination. Any
                           amount payable pursuant to clause (A) or clause (B)
                           above shall be payable in four equal consecutive
                           quarterly installments, with the first such payment
                           to be made within 15 days following the date of
                           termination.

                  (iii)    EQUITY RIGHTS. In the event the Executive voluntarily
                           terminates his employment hereunder for Good Reason,
                           all unvested Time-Vested Options and Performance
                           Options shall terminate immediately and be of no
                           further force or effect and, in the event the Company
                           terminates Executive's employment without Cause, 50
                           percent (50%) of any unvested Time-Vested Options and
                           Performance Options shall become immediately and
                           fully vested and exercisable, and shall remain
                           exercisable for the full term thereof, and the
                           remaining 50 percent (50%) of any Time-Vested Options
                           and Performance Options shall terminate immediately
                           and be of no further force or effect; provided,
                           however, in the event that the employment of the
                           Executive is terminated during the six-month period
                           immediately preceding a Change of Control (as defined
                           in Section 8(c) hereof) by the Company without Cause,
                           then, 100 percent (100%) of any unvested Time-Vested
                           Options and Performance Options shall become
                           immediately and fully vested and exercisable and
                           shall remain exercisable

                                       8
<PAGE>

                           for the full term thereof. This accelerated vesting
                           provision shall apply only to Time Vested Options and
                           Performance Options that have been granted as of the
                           date triggering acceleration and shall have no force
                           or effect with respect to any options described
                           herein which are not then issued.

                  (iv)     CONTINUED BENEFITS. For the 12-month period following
                           the date of the Executive's termination of
                           employment, the Company shall continue to provide the
                           Executive and his eligible dependents, at its sole
                           cost, with the medical, dental, disability and life
                           insurance coverages that were provided to the
                           Executive immediately prior to termination of
                           employment, subject to cancellation by the Company in
                           the event that the Executive obtains coverage under
                           comparable substitute plans of another employer.
                           Following the expiration of such 12-month period and
                           for the lifetime of the Executive, the Executive and
                           his eligible dependents shall be entitled to continue
                           participating (at the Executive's sole expense) in
                           the Company's group medical, dental, disability and
                           life insurance coverages, with the Executive's cost
                           to be determined on a basis consistent with the
                           method for determining employee payments under the
                           health care continuation requirements of the
                           Consolidated Omnibus Reconciliation Act of 1985
                           ("COBRA").

         (b)      RESIGNATION WITHOUT GOOD REASON; TERMINATION FOR CAUSE. In the
                  event the Executive voluntarily terminates his employment
                  hereunder other than for Good Reason or is terminated by the
                  Company for Cause, the Company shall pay the Executive and
                  provide him with any Accrued Rights under Section 7(a)(i).
                  Upon such termination, (i) the Executive shall not be entitled
                  to receive, and the Company shall have no obligation to
                  provide, any severance payments under this Agreement, (ii) the
                  Executive and his dependents shall not be entitled to receive,
                  the Company shall have no obligation to provide to the
                  Executive or his dependents, any medical, dental, disability
                  or life insurance coverage except as required by COBRA or
                  other applicable law or under the terms of the applicable
                  plans and (iii) all unvested Time-Vested Options and
                  Performance Options shall terminate immediately and shall be
                  of no further force or effect.

         (c)      DISABILITY; DEATH. In the event the Executive's employment
                  hereunder is terminated by reason of the Executive's
                  Disability or death, the Company shall pay and provide the
                  Executive (or his legal representative) with the following:

                  (i)      ACCRUED RIGHTS. The Company shall pay and provide to
                           the Executive (or his legal representative) any
                           Accrued Rights, including all disability or life
                           insurance benefits (as applicable).

                  (ii)     SALARY CONTINUATION. The Company shall provide the
                           Executive (or his legal representative) with
                           continued payment of the Executive's then-current
                           Base Salary for a period of 12 months.

                                       9
<PAGE>

                  (iii)    EQUITY RIGHTS. As of the date of the Executive's
                           termination under this paragraph (c) any unvested
                           portion of the Time-Vested Options and the
                           Performance Options shall become immediately and
                           fully vested and exercisable, and shall remain
                           exercisable for the full term thereof.

                  (iv)     CONTINUED BENEFITS. For the 12-month period following
                           the date of the Executive's Disability or death, the
                           Company shall continue to provide the Executive
                           and/or his eligible dependents (as applicable), at
                           its sole cost, with the medical, dental, disability
                           and life insurance coverages that were provided to
                           the Executive immediately prior to termination of
                           employment. Following the expiration of such 12-month
                           period, the Executive shall be entitled to continue
                           group benefit coverages on the same basis as
                           described in Section 7(a)(iv) hereof.

8. LOAN REDUCTION PROGRAM

         As further consideration for the services rendered by the Executive
through December 31, 2006, the Company agrees, on the terms and conditions set
forth below, to the following reduction in the amounts due under the loan
between the Executive and the Company evidenced by that certain Promissory Note
dated February 2, 2000, in the original principal amount of $4,992,000 (the
"Loan").

         (a)      STATUS OF LOAN. Contemporaneously with the execution and
                  delivery of this Agreement, the Company has agreed to reduce
                  the per annum interest rate, effective as of the date hereof,
                  of the Loan from nine percent (9%) to seven percent (7%) and
                  to extend the maturity to December 31, 2006 (the "Loan
                  Maturity Date").

         (b)      LOAN REDUCTION. Except as set forth in subsection 8(b)(iii),
                  the Loan (principal and related accrued interest) shall be
                  forgiven in 2006, or sooner as indicated below, based, to the
                  extent indicated below, on the Executive's continued
                  employment with the Company through December 31, 2006, and on
                  the satisfaction of double trigger performance goals.

                  (i)      The first trigger involves an annual determination
                           over the period 2001-05 of whether (A) the objective
                           Board approved EBITDA budgeting goals for each fiscal
                           year were satisfied or (B) the Compensation Committee
                           of the Board otherwise determines that the
                           Executive's performance for the year warrants a
                           determination that the first trigger shall be deemed
                           to be satisfied. For each of the years 2001-05 for
                           which the first trigger is satisfied, the maximum
                           Loan reduction would be 20% of the Loan principal and
                           related accrued interest. The actual reduction of the
                           Loan in such case shall be further contingent upon
                           the satisfaction of the second trigger.

                  (ii)     The second trigger involves the price per share of
                           the Company's Company Stock. For each of the years
                           2001-05 for which the first trigger

                                       10
<PAGE>

                           has been satisfied (each a "First Trigger Year"), the
                           Loan reduction, expressed as a percentage of
                           principal and related accrued interest outstanding up
                           to 20% per each such year, shall be determined as
                           follows: should the highest closing sales price per
                           share of the Common Stock for any day in 2006 as
                           reported on the principal exchange on which the
                           shares of Common Stock are then traded ("Measurement
                           Price") equal or exceed such closing sales price per
                           share as of July 1, 2001, or if July 1, 2001 is not a
                           trading day, then such closing sales price per share
                           of the next succeeding trading day (such date the
                           "Measurement Date") plus 100% thereof, then the Loan
                           reduction percentage applicable to each First Trigger
                           Year shall be 20%; should the Measurement Price equal
                           or be less than such closing sales price per share as
                           of Measurement Date, plus 50% thereof, then the Loan
                           reduction percentage applicable to each First Trigger
                           Year shall be 0% (and there will be no corresponding
                           reduction in the Loan); and should the Measurement
                           Price be less than such closing sale price per share
                           as of Measurement Date plus 100% thereof but more
                           than such closing sales price per share as of
                           Measurement Date plus 50%, then a proportionate (on a
                           straight-line basis) reduction in the Loan for each
                           First Trigger Year shall be made (e.g., Loan
                           reduction percentage per First Trigger Year of 15% if
                           the Measurement Price is equal to Measurement Date
                           closing sales price per share plus 87.5% thereof).

                  (iii)    No reduction in the Loan shall occur unless both
                           performance triggers have been satisfied except that
                           (A) if the first trigger has been satisfied for any
                           year and, prior to satisfying the second trigger on
                           or before the Loan Maturity Date, the Executive
                           voluntarily terminated his employment hereunder for
                           Good Reason or was terminated by the Company other
                           than for Cause, death or Disability, the Loan as of
                           the date of termination of employment shall be
                           reduced as if the second trigger were satisfied at
                           the maximum price per share level or (B) in the event
                           of a Change in Control prior to the Loan Maturity
                           Date, the Loan shall be forgiven in its entirety
                           regardless of achievement of either trigger, provided
                           either the Executive is employed by the Company on
                           the date of the Change in Control or the employment
                           of the Executive is terminated during the six-month
                           period immediately preceding a Change in Control by
                           the Company without Cause.

                  (iv)     In the event of any reduction in the Loan, Executive
                           also shall receive from the Company an additional
                           cash payment to cover any taxes due as a result of
                           the Loan reduction (including any taxes due as a
                           result of any payment under this subsection).

         (c)      DEFINITIONS. For purposes of this Section 8, and as used
                  elsewhere in this Agreement, the following terms shall have
                  the meanings given below:

         "CHANGE OF CONTROL" means the occurrence of any of the following: (i)
the sale, lease, transfer, conveyance or other disposition (other than by way of
merger or consolidation),

                                       11
<PAGE>

in one or a series of related transactions, of all or substantially all of the
assets of the Company and its Subsidiaries taken as a whole to any "person" (a
"Person") or group of related Persons (a "Group") (as such terms are used in
Section 13(d)(3) of the Securities Exchange Act of 1934) other than a Principal
or a Related Party of a Principal, (ii) the adoption of a plan relating to the
liquidation or dissolution of the Company, (iii) the consummation of any
transaction (including, without limitation, any purchase, sale, acquisition,
disposition, merger or consolidation) the result of which is that any Person or
Group other than a Principal or a Related Party of a Principal becomes the
"beneficial owner" (as such term is defined in Rule 13d-3 and Rule 13d-5 under
the Securities Exchange Act of 1934) of more than 50% of the aggregate voting
power of all classes of capital stock of the Company having the right to elect
directors under ordinary circumstances, or (iv) the first day on which a
majority of the members of the Board are not Continuing Directors. For purposes
of the foregoing, NationsBanc Capital Corp., State of Wisconsin Pension Board
and their respective affiliates shall be treated as a Group of Related Persons.

         "CONTINUING DIRECTORS" means, as of any date of determination, any
member of the Board who (i) was a member of the Board on the IPO Date or (ii)
was nominated for election or elected to the Board with the approval of (4)
two-thirds of the Continuing Directors who were members of the Board at the time
of such nomination or election or (y) two-thirds of those Directors who were
previously approved by Continuing Directors.

         "PRINCIPAL" means Richard W. Weening and Lewis W. Dickey, Jr.

         "RELATED PARTY" with respect to any Principal means (A) any controlling
stockholder, 80% (or more) owned subsidiary, or spouse or immediate family
member (in the case of an individual) of such principal or (B) any trust,
corporation, partnership or other entity, the beneficiaries, stockholders,
partners owners or Persons beneficially holding an 80% or more controlling
interest of which consist of such Principal and/or such other Persons referred
to in the immediately preceding clause (A).

         "SUBSIDIARY" means, with respect to any Person, (i) any corporation,
association or other business entity of which more than 50% of the total voting
power of shares of capital stock, entitled (without regard to the occurrence of
any contingency) to vote in the election of directors, managers or trustees
thereof is at the time owned or controlled, directly or indirectly, by such
Person or one or more of the other Subsidiaries of that Person (or a combination
thereof) and (ii) any partnership (a) the sole general partner or the managing
general partner of which is such Person or a Subsidiary of such Person or (b)
the only general partners of which are such person or of one or more
Subsidiaries of such Person (or any combination thereof).

         (d)      Notwithstanding any prior expiration of the Agreement Term
                  pursuant to Section 2, this Section 8 shall remain in effect
                  through December 31, 2006.

9. PARACHUTE TAX INDEMNITY

         (a)      If it shall be determined that any amount paid, distributed or
                  treated as paid or distributed by the Company to or for the
                  Executive's benefit (whether paid or payable or distributed or
                  distributable pursuant to the terms of this Agreement or

                                       12
<PAGE>

                  otherwise, but determined without regard to any additional
                  payments required under this Section 9) (a "Payment") would be
                  subject to the excise tax imposed by Section 4999 of the Code
                  or any interest or penalties are incurred by the Executive
                  with respect to such excise tax (such excise tax, together
                  with any such interest and penalties, being hereinafter
                  collectively referred to as the "Excise Tax"), then the
                  Executive shall be entitled to receive an additional payment
                  (a "Gross-Up Payment") in an amount such that after payment by
                  the Executive of all federal, state and local taxes (including
                  any interest or penalties imposed with respect to such taxes),
                  including, without limitation, any income taxes (and any
                  interest and penalties imposed with respect thereto) and
                  Excise Tax imposed upon the Gross-Up Payment, the Executive
                  retains an amount of the Gross-Up Payment equal to the Excise
                  Tax imposed upon the Payments.

         (b)      All determinations required to be made under this Section 9,
                  including whether and when a Gross-Up Payment is required and
                  the amount of such Gross-Up Payment and the assumptions to be
                  utilized in arriving at such determination, shall be made by a
                  nationally recognized accounting firm (the "Accounting Firm")
                  which shall provide detailed supporting calculations both to
                  the Company and the Executive within 15 business days of the
                  receipt of notice from the Executive that there has been a
                  Payment, or such earlier time as is requested by the Company.
                  The Accounting Firm shall be appointed jointly by two other
                  nationally recognized accounting firms, one of which is
                  appointed by the Executive and one of which is appointed by
                  the Company for such purpose. The Accounting Firm shall not be
                  an accounting firm serving as accountant or auditor for the
                  individual, entity or group effecting the Change of Control.
                  All fees and expenses of the Accounting Firm shall be borne by
                  the Company. Any Gross-Up Payment, as determined pursuant to
                  this Section 9, shall be paid by the Company to the Executive
                  within five days of the receipt of the Accounting Firm's
                  determination. Any determination by the Accounting Firm shall
                  be binding upon the Company and the Executive. As a result of
                  the uncertainty in the application of Section 4999 of the Code
                  at the time of the initial determination by the Accounting
                  Firm hereunder, it is possible that Gross-Up Payments which
                  will not have been made by the Company should have been made
                  ("Underpayment"), consistent with the calculations required to
                  be made hereunder. In the event that the Company exhausts its
                  remedies pursuant to this Section 9 and the Executive
                  thereafter is required to make a payment of any Excise Tax,
                  the Accounting Firm shall determine the amount of the
                  Underpayment that has occurred and any such Underpayment shall
                  be promptly paid by the Company to or for the Executive's
                  benefit.

         (c)      The Executive shall notify the Company in writing of any claim
                  by the Internal Revenue Service that, if successful, would
                  require the payment by the Company of the Gross-Up Payment.
                  Such notification shall be given as soon as practicable but no
                  later then ten business days after the Executive is informed
                  in writing of such claim and shall apprise the Company of the
                  nature of such claim and the date on which such claim is
                  requested to be paid. The Executive shall not pay such claim
                  prior to the expiration of the 30-day period following the
                  date on which it

                                       13
<PAGE>

                  gives such notice to the Company (or such shorter period
                  ending on the date that any payment of taxes with respect to
                  such claim is due). If the Company notifies the Executive in
                  writing prior to the expiration of such period that it desires
                  to contest such claim, the Executive shall: (i) give the
                  Company any information reasonably requested by the Company
                  relating to such claim; (ii) take such action in connection
                  with contesting such claim as the Company shall reasonably
                  request in writing from time to time, including, without
                  limitation, accepting legal representation with respect to
                  such claim by an attorney reasonably selected by the Company;
                  (iii) cooperate with the Company in good faith in order to
                  effectively contest such claim; and (iv) permit the Company to
                  participate in any proceeding relating to such claim;
                  provided, however, that the Company shall bear and pay
                  directly all costs and expenses (including additional interest
                  and penalties) incurred in connection with such contest and
                  shall indemnify and hold the Executive harmless, on an
                  after-tax basis, from any Excise Tax or income tax (including
                  interest and penalties with respect thereto) imposed as a
                  result of such representation and payment of costs and
                  expense. Without limitation on the foregoing provisions of
                  this Section 9, the Company shall control all proceedings
                  taken in connection with such contest and, at its sole option,
                  may pursue or forego any and all administrative appeals,
                  proceedings, hearings and conferences with the taxing
                  authority in respect of such claim and may, at its sole
                  option, either direct the Executive to pay the tax claimed and
                  sue for a refund or contest the claim in any permissible
                  manner, and the Executive agrees to prosecute such contest to
                  a determination before any administrative tribunal, in a court
                  of initial jurisdiction and in one or more appellate courts,
                  as the Company shall determine; provided, however, that if the
                  Company directs the Executive to pay such claim and sue for a
                  refund, the Company shall advance the amount of such payment
                  to the Executive, on an interest-free basis, and shall
                  indemnify and hold the Executive harmless, on an after-tax
                  basis, from any Excise Tax or income tax (including interest
                  or penalties with respect thereto) imposed with respect to
                  such advance or with respect to any imputed income with
                  respect to such advance; and further provided that any
                  extension of the statute of limitations relating to payment of
                  taxes for the Executive's taxable year with respect to which
                  such contested amount is claimed to be due is limited solely
                  to such contested amount. Furthermore, the Company's control
                  of the contest shall be limited to issues with respect to
                  which a Gross-Up Payment would be payable hereunder and the
                  Executive shall be entitled to settle or contest, as the case
                  may be, any other issue raised by the Internal Revenue Service
                  or any other taxing authority, so long as such action does not
                  have a material adverse effect on the contest being pursued by
                  the Company.

         (d)      If, after the Executive's receipt of an amount advanced by the
                  Company pursuant to this Section 9, the Executive becomes
                  entitled to receive any refund with respect to such claim, the
                  Executive shall (subject to the Company's complying with the
                  requirements of this Section 9) promptly pay to the Company
                  the amount of such refund (together with any interest paid or
                  credited thereon after taxes applicable thereto). If, after
                  the Executive's receipt of an amount advanced by the Company
                  pursuant to this Section 9, a determination is made that the
                  Executive

                                       14
<PAGE>

                  shall not be entitled to any refund with respect to such claim
                  and the Company does not notify the Executive in writing of
                  its intent to contest such denial of refund prior to the
                  expiration of 30 days after such determination, then such
                  advance shall be forgiven and shall not be required to be
                  repaid and the amount of such advance shall offset, to the
                  extent thereof, the amount of Gross-Up Payment required to be
                  paid.

10. NO MITIGATION OR OFFSET

         The Executive shall not be required to seek other employment or to
reduce any severance benefit payable to him under Section 7 hereof, and, except
as provided in Section 7(a)(iv) hereof, no such severance benefit shall be
reduced on account of any compensation received by the Executive from other
employment. The Company's obligation to pay severance benefits under this
Agreement shall not be reduced by any amount owed by the Executive to the
Company.

11. TAX WITHHOLDING; METHOD OF PAYMENT

         All compensation payable pursuant to this Agreement shall be subject to
reduction by all applicable withholding, social security and other federal,
state and local taxes and deductions. Any lump-sum payments provided for in this
Agreement shall be made in a cash payment, net of any required tax withholding,
no later than the fifth business day following the Executive's date of
termination or other payment date. Any payment required to be made to the
Executive under this Agreement that is not made in a timely manner shall bear
interest until the date of payment at an interest rate equal to 120% of the
monthly compounded applicable federal rate as in effect under Section 1274 (d)
of the Code for the month in which payment is required to be made.

12. RESTRICTIVE COVENANTS

         (a)      COVENANT NOT TO DISCLOSE CONFIDENTIAL INFORMATION. The
                  Executive acknowledges that during the course of his
                  affiliation with the Company he has or will have access to and
                  knowledge of certain information and data which the Company
                  considers confidential or proprietary and the release of such
                  information or data to unauthorized persons would be extremely
                  detrimental to the Company. As a consequence, the Executive
                  hereby agrees and acknowledges that he owes a duty to the
                  Company not to disclose, and agrees that without the prior
                  written consent of the Company, at any time, either during or
                  after his employment with the Company, he will not
                  communicate, publish or disclose, to any person anywhere, or
                  use for his own account any Confidential Information (as
                  hereinafter defined), except as may be necessary or
                  appropriate to conduct his duties hereunder, provided the
                  Executive is acting in good faith and in the best interest of
                  the Company, or as may be required by law or judicial process.
                  The Executive will use his best efforts at all times to hold
                  in confidence and to safeguard any Confidential Information
                  from falling into the hands of any unauthorized person and, in
                  particular, will not permit any Confidential Information to be
                  read, duplicated or copied. The Executive will return to the
                  Company all Confidential Information in the Executive's
                  possession or under the Executive's control whenever the
                  Company shall so request, and in any event will

                                       15
<PAGE>

                  promptly return all such Confidential Information if the
                  Executive's relationship with the Company is terminated for
                  any or no reason and will not retain any copies thereof. For
                  purposes hereof the term "Confidential Information" shall mean
                  any information or data used by or belonging or relating to
                  the Company or any of its subsidiaries or Affiliates that is
                  not known generally to or available for use by the industry in
                  which the Company is or may be engaged, other than as a result
                  of the Executive's acts or omissions to act, and which the
                  Company maintains on a confidential basis, including, without
                  limitation, any and all trade secrets, proprietary data and
                  information relating to the Company's business and products,
                  price list, customer lists, processes, procedures or
                  standards, know-how, manuals, business strategies, records,
                  drawings, specifications, designed, financial information,
                  whether or not reduced to writing, or information or data
                  which the Company advises the Executive should be treated as
                  confidential information. The covenants made in this Section
                  12(a) shall remain in effect during the term of the
                  Executive's relationship with the Company and, in the case of
                  Confidential Information that constitutes trade secrets under
                  the Uniform Trade Secrets Act, shall survive the termination
                  of such relationship for any reason indefinitely, and, in the
                  case of all other Confidential Information, shall survive for
                  a period of five (5) years after such termination. The
                  Executive further agrees and acknowledges that Confidential
                  Information, as between the Company and the Executive, shall
                  be deemed and at all time remain and constitute the exclusive
                  property of the Company.

         (b)      COVENANT NOT TO COMPETE. The Executive acknowledges that he
                  has established and will continue to establish favorable
                  relations with the customers, clients and accounts of the
                  Company and will have access to trade secrets of the Company
                  and that the Company would be irreparably damaged if the
                  Executive were to provide similar services to any person or
                  entity competing with the Company or engaged in a similar
                  business in the markets served or to be served by the Company.
                  Therefore, in consideration of such relations and to further
                  protect trade secrets, directly or indirectly, of the Company,
                  the Executive agrees that during the term of his employment by
                  the Company and for a period of eighteen months from the date
                  of termination of the Executive, except that such eighteen
                  month period shall not apply in the event of termination of
                  employment (i) by the Company other than for Cause, (ii) by
                  the Executive for Good Reason or (iii) by the Company or the
                  Executive for any reason within one year following a Change of
                  Control, the Executive will not, directly or indirectly,
                  without the express written consent of the Company:

                  (i)      act as a manager of a business substantially similar
                           to, a supervisor of officers or employees rendering
                           services for, or as an advisor with respect to the
                           conduct of, whether on the Executive's own behalf or
                           as an employee, director, or independent contractor
                           of, any business that consists of radio broadcasting
                           services (the "Business") and serves the listening
                           areas (as defined by the Arbitron Metro Survey Area)
                           set forth on Exhibit A, within which area the
                           Executive acknowledges the Company

                                       16
<PAGE>

                           currently conducts its business or has definite or
                           immediate plans to conduct its business, (the
                           "Competitive Businesses");

                  (ii)     solicit, or attempt to solicit, clients, customers or
                           accounts of the Company, (a) which during the twelve
                           (12)-month period prior to the date of termination of
                           the Executive has obtained or contracted to obtain
                           services from the Company and with which the
                           Executive had contact during the term of the
                           Executive's employment by the Company or (b) whose
                           name and/or address both would constitute
                           Confidential Information and became known to
                           Executive as a customer or client or potential
                           customer or client of the Company in any manner
                           during the term of the Executive's employment by the
                           Company, for, on behalf of or otherwise related to
                           any such Competitive Businesses or any products
                           related thereto; or

                  (iii)    solicit or in any manner influence or encourage any
                           person who is an employee of the Company at the time
                           the Executive's employment terminates or who was such
                           an employee with the Company at any time during the
                           twelve (12)-month period immediately preceding the
                           date of such termination and with whom the Executive
                           had contact during the term of the Executive's
                           employment by the Company to leave such employ or
                           service with the Company for any employment
                           opportunity with a competitive business.

Notwithstanding the foregoing, if any court determines that the covenant not to
compete, or any part thereof, is unenforceable because of the duration of such
provision or the geographic area or scope covered thereby, all of which the
Executive acknowledges are reasonable under the circumstances, such court shall
have the power to reduce the duration, area or scope of such provisions and, in
its reduced form, such provision shall then be enforceable and shall be
enforced.

         (c)      In the event that, and each time during the Executive's
                  employment with the Company, as, the Company (a) establishes
                  the Business hereinafter in a territory other than those areas
                  listed on Exhibit A or (b) adds a substantially different
                  service line to the Business, the Executive agrees to execute
                  and deliver an amendment to this Agreement adding the
                  territory or additional service line or some combination
                  thereof upon payment to the Executive by the Company of the
                  sum of $100.00.

         (d)      SPECIFIC PERFORMANCE. Recognizing the irreparable damage will
                  result to the Company in the event of the breach or threatened
                  breach of any of the foregoing covenants and assurances by the
                  Executive contained in paragraphs (a) or (b) hereof, and that
                  the Company's remedies at law for any such breach or
                  threatened breach will be inadequate, the Company and its
                  successors and assigns, in addition to such other remedies
                  which may be available to them, shall be entitled to an
                  injunction, including a mandatory injunction, to be issued by
                  any court of competent jurisdiction ordering compliance with
                  this Agreement or

                                       17
<PAGE>

                  enjoining and restraining the Executive, and each and every
                  person, firm or Company acting in concert or participation
                  with him, from the continuation of such breach and, in
                  addition thereto, he shall pay to the Company all
                  ascertainable damages, including costs and reasonable
                  attorneys' fees sustained by the Company by reason of the
                  breach or threatened breach of said covenants and assurances.
                  The obligations of the Executive and the rights of the
                  Company, its successors and assigns under Section 12 of this
                  Agreement shall survive the termination of this Agreement. The
                  covenants and obligations of the Executive set forth in
                  Section 12 hereof is in addition to and not in lieu of or
                  exclusive of any other obligations and duties of the Executive
                  to the Company, whether express or implied in fact or in law.

         (e)      POTENTIAL UNENFORCEABILITY OF ANY PROVISION. If a final
                  judicial determination is made that any provision of this
                  Agreement is an unenforceable restriction against the
                  Executive, the provisions hereof shall be rendered void only
                  to the extent that such judicial determination finds such
                  provisions unenforceable, and such unenforceable provisions
                  shall automatically be reconstituted and become a part of this
                  Agreement, effective as of the date first written above, to
                  the maximum extent in favor of the Company that is lawfully
                  enforceable. A judicial determination that any provision of
                  this Agreement is unenforceable shall in no instance render
                  the entire Agreement unenforceable, but rather the Agreement
                  will continue in full force and effect absent any
                  unenforceable provision to the maximum extent permitted by
                  law.

13. SUCCESSORS

         (a)      This Agreement shall be binding upon and shall inure to the
                  benefit of the Company, its successors and any person, firm,
                  corporation or other entity which succeeds to all or
                  substantially all of the business, assets or property of the
                  Company. The Company will require any successor (whether
                  direct or indirect, by purchase, merger, consolidation or
                  otherwise) to all or substantially all of the business, assets
                  or property of the Company, to expressly assume and agree to
                  perform this Agreement in the same manner and to the same
                  extent that the Company would be required to perform it if no
                  such succession had taken place. As used in this Agreement,
                  the "Company" shall mean the Company as hereinbefore defined
                  and any successor to its business, assets or property as
                  aforesaid which executes and delivers an agreement provided
                  for in this Section 13 or which otherwise becomes bound by all
                  the terms and provisions of this Agreement by operation of
                  law. Notwithstanding the foregoing provisions of this Section
                  13(a), this Agreement shall not be assignable by the Company
                  without the prior written consent of the Executive.

         (b)      This Agreement and all rights of the Executive hereunder shall
                  inure to the benefit of and be enforceable by the Executive's
                  personal or legal representatives, executors, administrators,
                  successors, heirs, distributees, devisees and legatees. If the
                  Executive should die while any amounts are due and payable to
                  him hereunder, all such amounts, unless otherwise provided
                  herein, shall be paid to the

                                       18
<PAGE>

                  Executive's designated beneficiary or, if there be no such
                  designated beneficiary, to the legal representatives of the
                  Executive's estate.

14. NO ASSIGNMENT

         Except as to withholding of any tax under the laws of the United States
or any other country, state or locality, neither this Agreement nor any right or
interest hereunder nor any amount payable at any time hereunder shall be subject
in any manner to alienation, sale, transfer, assignment, pledge, attachment, or
other legal process, or encumbrance of any kind by the Executive or the
beneficiaries of the Executive or by his legal representatives without the
Company's prior written consent, nor shall there be any right of set-off or
counterclaim in respect of any debts or liabilities of the Executive, his
beneficiaries or legal representatives, except in the case of termination of
employment for Cause; provided, however, that nothing in this Section 14 shall
preclude the Executive from designating a beneficiary to receive any benefit
payable on his death, or the legal representatives of the Executive from
assigning any rights hereunder to the person or persons entitled thereto under
his will or, in case of intestacy, to the person or persons entitled thereto
under the laws of intestacy applicable to his estate.

15. ENTIRE AGREEMENT

         This Agreement contains the entire understanding of the parties with
respect to the subject matter hereof and, except as specifically provided
herein, cancels and supersedes any and all other agreements between the parties
with respect to the subject matter hereof. In particular, this Agreement amends
and restates and, thus, supercedes the Prior Agreement, except for any and all
provisions of the Prior Agreement that relate to the grant of equity incentives
granted pursuant to Section 5 of the Prior Agreement, which provisions,
including any provisions under Section 5 or 7 of the Prior Agreement, shall
remain in effect throughout the Agreement Term of this Agreement. Any amendment
or modification of this Agreement shall not be binding unless in writing and
signed by the Company and the Executive. Notwithstanding the foregoing, the
parties hereto shall enter into stock option agreements in respect of the
Time-Vested Options and Performance Options setting forth terms and conditions
consistent with the provisions of this Agreement and such other terms and
conditions approved by the Compensation Committee.

16. SEVERABILITY

         In the event that any provision of this Agreement is determined to be
invalid or unenforceable, the remaining terms and conditions of this Agreement
shall be unaffected and shall remain in full force and effect, and any such
determination of invalidity or unenforceability shall not affect the validity or
enforceability of any other provision of this Agreement.

17. NOTICES

         All notices which may be necessary or proper for either the Company or
the Executive to give to the other shall be in writing and shall be delivered by
hand or sent by registered or certified mail, return receipt requested, or by
air courier, to the Executive at:

                  Mr. Lewis W. Dickey, Jr.
                  3535 Piedmont Road

                                       19
<PAGE>

                  Building 14, 14th Floor
                  Atlanta, Georgia 30305

and shall be sent in the manner described above to the Secretary of the Company
at the Company's principal executives offices at 3535 Piedmont Road, Building
14, 14th Floor, Atlanta, Georgia 30305 or delivered by hand to the Secretary of
the Company, and shall be deemed given when sent, provided that any notice
required under Section 6 hereof or notice given pursuant to Section 2 hereof
shall be deemed given only when received. Any party may by like notice to the
other party change the address at which he or they are to receive notices
hereunder.

18. GOVERNING LAW

         This Agreement shall be governed by and enforceable in accordance with
the laws of the State of Georgia, without giving effect to the principles of
conflict of laws thereof.

19. ARBITRATION

         Any controversy or claim arising out of, or related to, this Agreement,
or the breach thereof, shall be settled by binding arbitration in the City of
Atlanta, Georgia, in accordance with the rules then obtaining of the American
Arbitration Association, and the arbitrator's decision shall be binding and
final, and judgment upon the award rendered may be entered in any court having
jurisdiction thereof.

20. LEGAL FEES AND EXPENSES

         To induce the Executive to execute this Agreement and to provide the
Executive with reasonable assurance that the purposes of this Agreement will not
be frustrated by the cost of its enforcement should the Company fail to perform
its obligations hereunder, the Company shall pay and be solely responsible for
any attorneys' fees and expenses and court costs incurred by the Executive as a
result of a claim that the Company has breached or otherwise failed to perform
this Agreement or any provision hereof to be performed by the Company,
regardless of which party, if any, prevails in the contest.

                                       20
<PAGE>

         IN WITNESS WHEREOF, the Company and the Executive have executed this
Agreement as of the date first above written.

                                               EXECUTIVE

                                               /s/ Lewis W. Dickey, Jr.
                                               ---------------------------------
                                               LEWIS W. DICKEY, JR.

                                               CUMULUS MEDIA INC.

                                               /s/
                                               ---------------------------------
                                               By:
                                               Title:

                                       21
<PAGE>

                                    EXHIBIT A

                                 Listening Areas

  Bangor                                        Albany
  Canton/Salem                                  Columbus-Starkville
  Florence                                      Flint
  Harrisburg                                    Lake Charles
  Myrtle Beach                                  Lexington
  Tallahassee                                   Melbourne
  Wilmington                                    Montgomery
  Youngstown                                    Saginaw
                                                Shreveport
  Fayetteville, AR
  Fayetteville, NC                              Abilene
  Ft. Smith                                     Amarillo
  Kalamazoo                                     Appleton
  Mobile                                        Beaumont
  Monroe                                        Grand Junction
  Pensacola                                     Green Bay
  Rockford                                      Houston
  Savannah                                      Killeen Temple
  Toledo                                        Odessa
                                                Topeka
  Bismarck                                      Wichita Falls
  Cedar Rapids
  Dubuque
  Eugene
  Fairbault
  Owatonna
  Oxnard-Ventura
  Quad Cities
  Santa Barbara
  Waseca
  Waterloo

                                       22

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}]]