Document:

Exhibit 10.12

Exhibit 10.12

AMENDED AND RESTATED

ADVISORY AGREEMENT

This Amended and Restated Advisory Agreement (this “Agreement”) is made and entered
into as of September 12, 2011, by and between HCI Equity Management, L.P., a Delaware limited
partnership (the “Advisor”), and Roadrunner Transportation Systems, Inc., a Delaware
corporation (the “Company”).

WHEREAS, the Company and Thayer | Hidden Creek Management, L.P. (“Thayer”) were
parties to that certain Advisory Agreement, dated as of May 7, 2010 (the “Original
Agreement”).

WHEREAS, Thayer assigned all of its rights and obligations with respect to the Original
Agreement to the Advisor pursuant to that certain Assignment of Advisory Agreement, dated as of May
11, 2011.

WHEREAS, the parties hereto desire to amend and restate the Original Agreement in its entirety
to provide for an annual advisory fee and for the other rights and obligations set forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein,
the parties agree as follows:

1. Term. This Agreement shall be in effect for an initial term commencing on the date
hereof and ending on May 7, 2020 (the “Term”), and shall be automatically extended
thereafter on a year to year basis unless the Company or the Advisor provides written notice of its
desire to terminate this Agreement to the other 90 days prior to the expiration of the Term or any
extension thereof; provided that (i) either the Company or the Advisor may terminate this Agreement
in the event of the breach of any of the material terms or provisions of this Agreement by the
other, which breach is not cured within 10 business days after notice of the same is given to the
party alleged to be in breach, and (ii) the Term shall automatically expire, and no further payment
will be due hereunder, if Advisor and its affiliates, on a combined basis, hold less than twenty
percent (20%) of the Company’s outstanding voting capital stock. If this Agreement is terminated
by the Advisor because of the breach of any of the material terms or provisions hereof by the
Company, the Advisor shall be entitled to recover damages from the Company and shall not be
required to mitigate or reduce damages by seeking or undertaking other management arrangements or
business opportunities. No termination of this Agreement, whether pursuant to this Section
1 or otherwise, shall affect the Company’s obligation with respect to the fees, costs, and
expenses incurred by the Advisor in rendering services hereunder and not paid and reimbursed by the
Company as of the effective date of such termination.

2. Services. The Advisor shall perform or cause to be performed the following
services for the Company and its subsidiaries, as well as related services as may be reasonably
requested by the Board of Directors of the Company (the “Board”):

(a) identification, support, negotiation, and analysis of acquisitions and dispositions by the
Company and its subsidiaries; and

(b) support, negotiation, and analysis of financing alternatives, including, without
limitation, in connection with acquisitions, capital expenditures, and refinancing of existing
indebtedness.

3. Reimbursement of Expenses. The Company shall promptly pay (or reimburse) the
Advisor for the reasonable out-of-pocket expenses incurred by the Advisor and its officers,
employees, agents, and representatives in connection with the services rendered hereunder
(including, but not limited to, all costs and expenses incurred by the Advisor in connection with
attending Board meetings). All obligations or expenses reasonably incurred by the Advisor
(including, but not limited to, legal, accounting and other advisors’ fees and expenses) in the
performance of its duties under this Agreement shall be for the account of, on behalf of, and at
the expense of the Company. The Advisor shall not be obligated to
make any advance to or for the account of the Company or to pay any sums, except out of funds
held in accounts maintained by the Company, nor shall the Advisor be obligated to incur any
liability or obligation for the account of the Company without assurance that the necessary funds
for the discharge of such liability or obligation will be provided. 

 

 

 

4. Fees.

(a) Advisory Fee. During the Term, the Company shall pay to the Advisor, as
compensation for the services to be rendered by the Advisor hereunder, an annual fee equal to
$100,000, payable in advance in equal quarterly installments (the “Base Compensation”).
The first payment of Base Compensation shall be paid on the date hereof with respect to the quarter
ending September 30, 2011 (in full, not pro rata) and, thereafter, payments of Base Compensation
shall be made on the first day of January, April, July and October of each year.

(b) Transaction Fees. During the Term, the Company shall pay to the Advisor a
transaction fee in connection with the consummation of each acquisition or divestiture by the
Company or its subsidiaries (excluding purchases or sales of equipment or inventory in the ordinary
course of business) that is introduced or negotiated by the Advisor or any of its affiliates (the
“M&A Compensation”) plus all reasonable out-of-pocket expenses of the Advisor and/or its
affiliates incurred in negotiating, analyzing, and executing such acquisition or divestiture. The
M&A Compensation and such out-of-pocket expenses shall be paid at the closing of any such
acquisition or divestiture. The M&A Compensation shall be a cash sum equal to an amount to be
determined through good faith negotiations between the Board and the Advisor based on purchase
price for the acquisition or disposition (which on acquisitions or divestitures of assets shall
also include the book value of the assumed liabilities, and on acquisitions of stock shall also
include liabilities of the acquired entity that are required to be paid with funds provided by the
purchaser in connection with such acquisition).

This Section 4(b) shall not apply to any transaction (a “Sale of the Company”)
which is (x) the sale of all, or substantially all, of the Company’s consolidated assets in any
single transaction or series of related transactions; (y) the sale or issuance, or series of
related sales or issuances, of equity securities of the Company in any single transaction or series
of related transactions which results in any person or group of affiliated persons (other than
affiliates of the Advisor) owning (on a fully-diluted basis) more than 50% of the Company’s
securities having ordinary voting power to elect directors outstanding at the time of such sale or
issuance or such series of sales and/or issuances; or (z) any merger or consolidation of the
Company with or into another corporation (regardless of which entity is the surviving corporation)
if, after giving effect to such merger or consolidation, the holders of the Company’s securities
having ordinary voting power to elect directors (on a fully-diluted basis) immediately prior to the
merger or consolidation own securities of the surviving or resulting corporation representing 50%
or less of the ordinary voting power to elect directors of the surviving or resulting corporation
(on a fully-diluted basis). The amount of any fee payable to the Advisor in connection with a Sale
of the Company shall be determined pursuant to the provisions of Section 4(e) below.

(c) In the event of any public or private debt or equity financing by the Company or any of
its subsidiaries negotiated by the Advisor, the Company shall pay to the Advisor a transaction fee
to be determined through good faith negotiations between the Board and the Advisor plus all
reasonable out-of-pocket expenses of the Advisor and/or its affiliates incurred in negotiating,
analyzing, and executing such financing. Such fee and out-of-pocket expenses shall be paid at the
closing of any such financing. Notwithstanding the foregoing, no fee shall be payable pursuant to
this Section 4(c) if the financing is related to a transaction for which Advisor receives
M&A Compensation.

(d) Notwithstanding anything herein to the contrary, the Advisor acknowledges and agrees that
the Company may from time to time engage the services of financial advisors in addition to the
Advisor in connection with certain acquisitions, dispositions, and financing transactions if, in
the judgment of the Board, such engagement is in the best interests of the Company and its
stockholders. In
such event, the amount otherwise payable to the Advisor pursuant to Section 4(b) or
4(c) hereof may be reduced to an amount, to be determined through good faith negotiations
between the Board and the Advisor, that reflects the Advisor’s relative contribution to the
applicable transaction. If the Board and the Advisor are unable to agree upon the amount of the
reduced compensation, such compensation will be determined by arbitration in Minneapolis, Minnesota
in accordance with the rules of the American Arbitration Association. The Company and the Advisor
will share equally the cost of arbitration.

 

2

 

(e) In the event of any other transaction not in the ordinary course of business or unusual
efforts extended or results obtained by the Advisor on behalf or for the benefit of the Company or
its subsidiaries, the Board and the Advisor shall in good faith determine a fair compensation
arrangement to compensate the Advisor for such matters. Such compensation arrangement shall be
subject to the approval of a majority of the disinterested members of the Board, which approval
shall not be unreasonably withheld.

(f) If at any time when a payment of a fee is due under this Agreement the Company (i) does
not have sufficient available cash to make such payment, or (ii) is prohibited from making such
payment pursuant to the terms of the Company’s loan agreements or other financing arrangements,
part or all of such payment, as the case may be, shall be deferred. All deferred amounts shall be
immediately due and payable as soon as there is sufficient available cash or the payment is no
longer prohibited under the loan agreements, as the case may be.

5. Other Activities of the Advisor. The Company acknowledges and agrees that neither
Advisor nor any of the Advisor’s employees, partners, affiliates, or agents shall be required to
devote full time and business efforts to the duties of the Advisor specified in this Agreement, but
instead the Advisor shall devote only so much of such time and efforts as the Advisor reasonably
deems necessary. The Company further acknowledges and agrees that the Advisor and its affiliates
are engaged in the business of investing in, acquiring and/or managing businesses for the Advisor’s
own account, for the account of the Advisor’s affiliates and associates and for the account of
unaffiliated parties, and understands that the Advisor plans to continue to be engaged in such
businesses (and other business or investment activities) during the Term. No aspect or element of
such activities shall be deemed to be engaged in for the benefit of the Company or any of its
subsidiaries nor to constitute a conflict of interest. Without limiting the generality of the
foregoing, the Advisor shall be required to bring only those investments and/or business
opportunities to the attention of the Company which the Advisor, in its sole discretion, believes
appropriate, and nothing herein shall restrict the Advisor from investing or directly or indirectly
engaging in competitive businesses.

6. Liability. Neither the Advisor nor any of the Advisor’s affiliates, partners,
employees, or agents shall be liable to the Company or its subsidiaries or affiliates for any loss,
liability, damage, or expense arising out of or in connection with the Advisor’s performance of
services contemplated by this Agreement, unless such loss, liability, damage, or expense shall be
finally judicially determined to result directly from gross negligence, willful misconduct, or bad
faith on the part of the Advisor, its affiliates, partners, employees, or agents acting within the
scope of their employment or authority. The Company recognizes and confirms that the Advisor will,
from time to time in acting pursuant to this engagement, be using information in reports and other
information provided by others, including, without limitation, information provided by or on behalf
of the Company and its subsidiaries, and that the Advisor does not assume responsibility for and
may rely, without independent verification, on the accuracy and completeness of any such reports
and information. The Company hereby warrants that any information relating to the Company and its
subsidiaries that is furnished to the Advisor by or on behalf of the Company will be fair,
accurate, and complete and will not contain any material omissions or misstatements of fact. The
Company agrees that any information or advice rendered by the Advisor or its representatives in
connection with this engagement is for the confidential use of the Board only, and, except as
otherwise required by law, the Company will not and will not permit any third party to disclose or
otherwise refer to such advice or information in any manner without the Advisor’s prior written
consent.

 

3

 

7. Indemnification of the Advisor. The Company hereby agrees to indemnify and hold
harmless the Advisor and its present and future officers, directors, affiliates, employees, and
agents (“Indemnified Parties”) from and against any and all claims, liabilities, losses,
and damages (or actions in respect thereof), in any way related to or arising out of the
performance by such Indemnified Party of services under this Agreement, and to advance and
reimburse each Indemnified Party on a monthly basis for reasonable legal and other expenses
incurred by it in connection with or relating to investigating, preparing to defend, or defending
any actions, claims, or other proceeding (including any investigation or inquiry) arising in any
manner out of or in connection with such Indemnified Party’s performance or non-performance under
this Agreement (whether or not such Indemnified Party is a named party in such proceedings);
provided, however, that the Company shall not be responsible under this paragraph for any claims,
liabilities, losses, damages, or expenses to the extent that they are finally judicially determined
to result from actions taken by such Indemnified Person that constitute gross negligence or willful
misconduct. The provisions of Sections 6 and 7 shall survive any termination of
this Agreement.

8. Independent Contractor. The Advisor shall be an independent contractor, and
nothing contained in this Agreement shall be deemed or construed (i) to create a partnership or
joint venture between the Company and the Advisor, (ii) to cause the Advisor to be responsible in
any way for the debts, liabilities or obligations of the Company or any other party, or (iii) to
constitute the Advisor or any employees of the Advisor or any of its affiliates as employees,
officers or agents of the Company.

9. Notices. All notices, demands and other communications to be given or delivered
under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to
have been given when personally delivered, sent by telecopy (with receipt confirmed) on a business
day during regular business hours of the recipient (or, if not, on the next succeeding business
day) or one business day after being sent by reputable overnight courier service (charges prepaid).

	 	If to the Company:	 	 Roadrunner Transportation Systems, Inc.

4900 S. Pennsylvania Ave.

Cudahy, WI 53110

Attention: Mark A. DiBlasi

	 
	 	If to the Advisor:	 	 HCI Equity Management, L.P.

c/o HCI Equity Partners

1730 Pennsylvania Avenue, NW, Suite 525

Washington, DC 20006

Attention: Scott D. Rued

10. Assignment. Without the consent of the Advisor, the Company shall not assign,
transfer or convey any of its rights, duties or interest under this Agreement, nor shall it
delegate any of the obligations or duties required to be kept or performed by it hereunder.
Without the prior written consent of the Company, the Advisor shall not assign, transfer or convey
any of its rights, duties, or interests under this Agreement, nor shall it delegate any of the
obligations or duties required to be kept or performed by it under this Agreement; provided that
the Advisor may, without the consent of the Company, assign any and all of its rights and
obligations hereunder to any of its affiliates.

11. Third Party Beneficiaries.

(a) Except for the parties to this Agreement and their respective successors and assigns,
nothing expressed or implied in this Agreement is intended, or will be construed, to confer upon or
give any person other than the parties hereto and their respective successors and assigns any
rights or remedies under or by reason of this Agreement; provided that the agent for the
Company’s lenders named in the Company’s senior credit facility (the “Credit Facility”)
shall be deemed to be a third party beneficiary for purposes of Section 4(e) above.

 

4

 

(b) The Advisor hereby agrees that the payment obligations of the Company under this
Agreement, and the right of the Advisor to receive payments under this Agreement are subordinated
to payment of all amounts owing or that become owing under the Credit Facility and that payments
under this Agreement may be made only as permitted in the Credit Facility. Subordination of
amounts payable under this Agreement on the terms set forth herein shall be effective (i) in any
voluntary or involuntary insolvency, bankruptcy, receivership, custodianship, liquidation,
dissolution, reorganization, assignment for the benefit of creditors, appointment of a custodian,
receiver, trustee or other officer with similar powers or any other proceeding for the liquidation,
dissolution, or other winding up of any of the Company or any of its successors, assigns, or
transferees and (ii) against any transferee or assignee of the Advisor. The Advisor also agrees
that if it receives any payment under this Agreement that is not permitted by the Credit Facility
it will promptly turn over such payment to the administrative agent named therein, if amounts are
outstanding under the Credit Facility.

12. Severability. If any term or provision of this Agreement or the application
thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the
remainder of this Agreement, or the application of such term or provision to person or
circumstances other than those as to which it is held invalid or enforceable, shall not be affected
thereby, and each term and provision of this Agreement shall be valid and be enforced to the
fullest extent permitted by law.

13. Entire Agreement. This Agreement contains the entire agreement between the
parties hereto with respect to the matters herein contained and any agreement hereafter made shall
be ineffective to effect any change or modification, in whole or in part, unless such agreement is
in writing and signed by the party against whom enforcement of this change or modification is
sought.

14. Governing Laws. This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware without reference to the laws of any other state.

15. Amendments and Waivers. No provision of this Agreement may be amended or waived
without the prior written consent or each party hereto.

16. Successors. This Agreement and all the obligations and benefits hereunder shall
inure to the successors and assigns of the parties.

17. Counterparts. This Agreement may be executed and delivered by each party hereto
in separate counterparts, each of which when so executed and delivered shall be deemed an original
and all of which taken together shall constitute but one and the same agreement.

SIGNATURES APPEAR ON FOLLOWING PAGE

 

5

 

IN WITNESS WHEREOF, the parties have executed this Advisory Agreement as of the date first
written above.

	 	 	 	 	 	 	 	 	 
	 	 	ADVISOR:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	HCI EQUITY MANAGEMENT, L.P.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	HCI Equity Partners, L.L.C., its General Partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Lisa M. Costello
 

Lisa M. Costello, Authorized Signatory
	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	COMPANY:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	ROADRUNNER TRANSPORTATION SYSTEMS, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Peter R. Armbruster	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Peter R. Armbruster,	 	 
	 

	 	 	 	 	 	Chief Financial Officer	 	 

 

6exv4w12

Exhibit 4.12

SECOND SUPPLEMENTAL INDENTURE

          This Second Supplemental Indenture is entered into as of October 16, 2011 (this “Second
Supplemental Indenture”), by and among Cumulus Media Holdings Inc., a Delaware corporation (the
“Issuer”), as successor in interest to Cumulus Media Inc., a Delaware corporation and the
Issuer’s Parent, each of the Subsidiaries of the Issuer identified on the signature pages hereof
(each, a “New Guarantor”), and U.S. Bank National Association, a banking corporation
organized and existing under the laws of the United States (the “Trustee”), as Trustee, and
as transfer agent, registrar, authentication agent and paying agent under the Indenture referred to
below.

W I T N E S S E T H:

          WHEREAS, the Issuer, the Parent and the other Guarantors named therein, and the Trustee have
heretofore executed and delivered an Indenture dated as of May 13, 2011 (as heretofore supplemented
by the First Supplemental Indenture dated as of September 16, 2011, the “Indenture”),
providing for the issuance of an aggregate principal amount of $610.0 million of 7.75% Senior Notes
due 2019 of the Issuer (the “Notes”);

          WHEREAS, Section 3.7 of the Indenture provides that, under specified circumstances,
Subsidiaries of the Issuer (i) shall execute and deliver to the Trustee a supplemental indenture
pursuant to which such Subsidiaries shall unconditionally guarantee all of the Issuer’s Obligations
under the Indenture and the Notes on the terms and conditions set forth herein and under the
Indenture (the “Guarantee”) and (ii) shall execute and deliver a joinder agreement to the
Registration Rights Agreement; and

          WHEREAS, pursuant to Section 9.1 of the Indenture, the Issuer, each New Guarantor and the
Trustee are authorized to execute and deliver this Second Supplemental Indenture without consent of
the Holders.

          NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree
for the equal and ratable benefit of the Holders as follows:

ARTICLE I

DEFINITIONS

          SECTION 1.1 Defined Terms. Terms defined in the Indenture are used in this Second
Supplemental Indenture as therein defined. The words “herein,” “hereof” and “hereby” and other
words of similar import used in this Second Supplemental Indenture refer to this Second
Supplemental Indenture as a whole and not to any particular section hereof.

 

 

ARTICLE II

REPRESENTATIONS; AGREEMENT TO BE BOUND; GUARANTEE

          SECTION 2.1 Representations. Each New Guarantor represents and warrants to the
Trustee as follows:

     (i) It is duly organized, validly existing and in good standing under the laws of its
jurisdiction of organization.

     (ii) The execution, delivery and performance by it of this Second Supplemental
Indenture have been authorized and approved by all necessary corporate or limited liability
company action on its part.

          SECTION 2.2 Agreement to be Bound. Pursuant to Section 3.7 of the Indenture, each
New Guarantor hereby becomes a party to the Indenture as a Subsidiary Guarantor and as such shall
have all of the rights and be subject to all of the obligations and agreements of a Subsidiary
Guarantor under the Indenture. Each New Guarantor agrees to be bound by all of the provisions of
the Indenture applicable to a Subsidiary Guarantor and to perform all of the obligations and
agreements of a Subsidiary Guarantor under the Indenture.

          SECTION 2.3 Guarantee. Pursuant to Section 3.7 of the Indenture, each New Guarantor
agrees, on a joint and several basis with all the existing Guarantors, to fully, unconditionally
and irrevocably Guarantee to each Holder of the Notes and the Trustee the Guaranteed Obligations
pursuant to Article X of the Indenture on a senior unsecured basis.

ARTICLE III

MISCELLANEOUS

          SECTION 3.1 Notices. All notices and other communications to each New Guarantor
shall be given as provided in the Indenture.

          SECTION 3.2 Parties. Nothing expressed or mentioned herein is intended or shall be
construed to give any Person, firm or corporation, other than the Holders and the Trustee, any
legal or equitable right, remedy or claim under or in respect of this Second Supplemental Indenture
or the Indenture or any provision herein or therein contained.

          SECTION 3.3 Governing Law. This Second Supplemental Indenture shall be governed by,
and construed in accordance with, the laws of the State of New York.

          SECTION 3.4 Severability Clause. In case any provision in this Second Supplemental
Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby and such provision
shall be ineffective only to the extent of such invalidity, illegality or unenforceability.

-2-

 

          SECTION 3.5 Ratification of Indenture; Supplemental Indentures Part of Indenture.
Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all
the terms, conditions and provisions thereof shall remain in full force and effect. This Second
Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of
Notes heretofore or hereafter authenticated and delivered shall be bound hereby.

          SECTION 3.6 Counterparts. The parties hereto may sign one or more copies of this
Second Supplemental Indenture in counterparts, all of which together shall constitute one and the
same agreement.

          SECTION 3.7 Headings. The headings of the Articles and the Sections in this Second
Supplemental Indenture are for convenience of reference only and shall not be deemed to alter or
affect the meaning or interpretation of any provisions hereof.

          SECTION 3.8 Trustee Makes No Representation. The Trustee makes no representation as
to the validity or sufficiency of this Second Supplemental Indenture.

[Signature pages follows]

-3-

 

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

	 	 	 	 	 
	 	CUMULUS MEDIA HOLDINGS INC.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CUMULUS MEDIA PARTNERS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CMP SUSQUEHANNA HOLDINGS CORP.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CMP SUSQUEHANNA RADIO HOLDINGS CORP.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CMP SUSQUEHANNA CORP.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Second Supplemental Indenture Signature Page]

 

 

	 	 	 	 	 
	 	CMP KC CORP.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SUSQUEHANNA PFALTZGRAFF CO.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SUSQUEHANNA MEDIA CO.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SUSQUEHANNA RADIO CORP.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CITADEL BROADCASTING CORPORATION

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ATLANTA RADIO, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Second Supplemental Indenture Signature Page]

 

 

	 	 	 	 	 
	 	DETROIT RADIO, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INTERNATIONAL RADIO, INC.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	RADIO WATERMARK, INC.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ALPHABET ACQUISITION CORP.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CHICAGO FM RADIO ASSETS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CHICAGO LICENSE, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Second Supplemental Indenture Signature Page]

 

 

	 	 	 	 	 
	 	CHICAGO RADIO ASSETS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CHICAGO RADIO HOLDING, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CHICAGO RADIO, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DC RADIO ASSETS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DC RADIO, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	KLOS RADIO, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Second Supplemental Indenture Signature Page]

 

 

	 	 	 	 	 
	 	KLOS-FM RADIO ASSETS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	KLOS SYNDICATIONS ASSETS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LA LICENSE, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LA RADIO, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MINNEAPOLIS RADIO ASSETS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MINNEAPOLIS RADIO, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Second Supplemental Indenture Signature Page]

 

 

	 	 	 	 	 
	 	NETWORK LICENSE, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NY LICENSE, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NY RADIO ASSETS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NY RADIO, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	RADIO ASSETS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	RADIO NETWORKS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Second Supplemental Indenture Signature Page]

 

 

	 	 	 	 	 
	 	RADIO TODAY ENTERTAINMENT, INC.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SAN FRANCISCO RADIO ASSETS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SAN FRANCISCO RADIO, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SF LICENSE, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WBAP-KSCS ACQUISITION PARTNER, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WBAP-KSCS ASSETS, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Second Supplemental Indenture Signature Page]

 

 

	 	 	 	 	 
	 	WBAP-KSCS RADIO ACQUISITION, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WBAP-KSCS RADIO GROUP, LTD.

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WPLJ RADIO, LLC

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Second Supplemental Indenture Signature Page]

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,
as
 Trustee, Transfer
Agent, Registrar, Authentication Agent and Paying
Agent

 	 
	 	By:  	/s/	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Second Supplemental Indenture Signature Page]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}]]