Document:

Employment Agreement of Ronald Cooper

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement
(“Agreement”) is between Clear Channel Outdoor Holdings, Inc. (“CCOH” or “Company”) and Ronald Cooper (“Employee”). 
 1. TERM OF EMPLOYMENT 
 This Agreement commences December 15, 2009
(“Effective Date”) and shall continue until terminated by either party in accordance with Section 8 of this Agreement (the “Employment Period”). 
 2. TITLE AND EXCLUSIVE SERVICES 
 (a) Title and Duties.
Employee’s title is Chief Executive Officer – Clear Channel Outdoor, Inc. - Americas, and he will perform job duties that are usual and customary for this position. Employee will report to the Chief Executive Officer of the Company (the
“CEO”) and shall perform such duties on behalf of the Company as may be assigned by the CEO from time to time. Employee acknowledges receipt of the Company’s Code of Business Conduct and Ethics and will review and abide by its terms.

 (b) Exclusive Services. Employee shall not be employed or render services elsewhere during the Employment Period;
provided that with advance notice to the CEO, Employee may participate in educational, welfare, social, religious and civic organizations and any other activities approved by the CEO, so long as such activities do not materially and adversely
interfere or conflict with Employee’s performance of his obligations hereunder or conflict in any material way with the business of the Company. The Company agrees that Employee is and may remain a member of the Board of Directors of CSG
Systems, Inc. 
 3. COMPENSATION AND BENEFITS 
 (a) Base Salary. Employee shall be paid an annual salary of Seven Hundred Seventy-Five Thousand Dollars ($775,000.00) (Base Salary”) and is eligible for annual salary increases commensurate
with Company policy. 
 (b) Vacation. Employee is eligible for vacation days as set forth in the Employee Guide, which
will not be less than 20 days paid vacation per year. 
 (c) Annual Bonus. Eligibility for an Annual Bonus is based on
financial and performance criteria established by Company and approved in the annual budget, and will be paid no later than March 15 each calendar year following the year in which the Annual Bonus was earned. For calendar year 2010 and each
calendar year thereafter during the Employment Period, Employee’s target bonus (the “Target Bonus”) shall be no less than One Million Dollars ($1,000,000.00), subject to bonus criteria of 70% Company financial performance-based and
30% MBO-based. The MBOs for the 2010 calendar year are to be mutually agreed upon with the CEO no later than March 10, 2010. The Company agrees that no other similarly situated executive domestic employees of the Company and its domestic
affiliates shall be provided a bonus plan in any year that is on more favorable terms than Employee’s bonus plan. The payment of any Annual Bonus shall be subject to Section 19 and shall be within the Short-Term

 
Deferral period under Section 409A (as defined in Section 19) and applicable regulations and net of any applicable withholding tax or other deductions required by law or Company benefit
plans. 
 (d) Benefit Plans. Employee may participate in employee welfare benefit plans in which other similarly situated
employees of the Company and its affiliated companies may participate, on the same terms as may be applicable to such similarly situated employees, as such welfare benefit plans are stated in the Employee Guide. Additionally, Employee shall be
eligible for any other benefits, including fringe benefits, severance benefits in excess of those described in Section 9 of this Agreement, and any other benefits that do not constitute a welfare benefit plan, on the same or better terms as any
other similarly situated employees of the Company and its affiliated companies may receive. Employee acknowledges receipt of the Employee Guide available on the intercompany website and will review and abide by its terms. 
 (e) Expenses. 
 (i) Subject to Section 18 and required withholding, Company will reimburse Employee for travel and entertainment related expenses, consistent with past practices pursuant to Company policy. 
 (ii) The Company agrees to reimburse Employee for all reasonable expenses associated with Employee’s commute from the Denver
metropolitan area to the Phoenix metropolitan area (or any other location to which the Company’s headquarters is relocated) and housing expenses for Phoenix (or such other location) until no later than August 2012. Employee agrees to relocate
from the Denver metropolitan area to the location of the Company’s headquarters during or prior to August 2012 and that his failure to so relocate by such date will constitute a voluntary termination by Employee without Good Cause pursuant to
Section 8(e). Upon Employee’s relocation as contemplated pursuant to this paragraph, the Company will pay relocation costs associated with such relocation in accordance with the applicable Company relocation policies. 
 (f) Equity Compensation. As additional consideration for entering into this Agreement, Employee shall be granted equity compensation
as follows: 
  

	 	a.	Company Equity. Provided Employee remains employed by the Company on the applicable dates set forth below, Employee shall be granted (i) 150,000 restricted
stock units (“RSUs”) and (ii) an aggregate of 500,000 incentive stock options and non-qualified stock options (with such options being allocated such that Employee receives the maximum amount of incentive stock options for which he
may qualify under the Internal Revenue Code of 1986, as amended (“Code”)), each with respect to the common stock of the Company as follows: 

  

	 	i.	 On the Effective Date, Employee shall be granted 150,000 RSUs (“Company RSUs”) and 300,000 stock options (with such options allocated such
that Employee receives the maximum amount of incentive stock options for which he may qualify under the Code, the “Initial Company Options”) with an exercise price equal to fair market value as of the date of grant. Such Company RSUs and
Initial Company Options shall vest in 25% increments on each of the first four anniversaries of the

	 	 
grant date and shall be granted pursuant to, and subject to the terms and conditions of, the Company’s 2005 Stock Incentive Plan (except as specifically provided in this Section 3(f)).

  

	 	ii.	On each of the first, second and third anniversaries of the Effective Date, Employee shall be granted an aggregate of 66,667 incentive stock options and non-qualified
stock options (“Additional Company Options”, and together with the Initial Company Options, the “Company Options”) (with such Additional Company Options being allocated such that Employee receives the maximum amount of incentive
stock options for which he may qualify under the Code) with an exercise price equal to fair market value on the date of grant. Such Additional Company Options shall vest in 25% increments on each of the first four anniversaries of the grant date and
shall be granted pursuant to, and subject to the terms and conditions of, the Company’s 2005 Stock Incentive Plan (except as specifically provided in this Section 3(f)). 

  

	 	b.	CCMH Equity. On the Effective Date, Employee shall be granted 165,000 stock options with respect to the common stock of CC Media Holdings, Inc.
(“CCMH”) at an exercise price equal to $36 per share (with such options allocated such that Employee receives the maximum amount of incentive stock options for which he may qualify under the Code, the “CCMH Options”), which
option grant has been approved by the board of directors of CCMH. Such CCMH Options shall vest in 25% increments on each of the first four anniversaries of the grant date and shall be granted pursuant to, and subject to the terms and conditions of,
the Clear Channel 2008 Executive Incentive Plan (except as specifically provided in this Section 3(f)). 

  

	 	c.	Acceleration of Vesting on Certain Events. In the event of (i) a Change of Control of the Company (as defined for purposes of the Company’s 2005 Stock
Incentive Plan), all unvested Company Options and unvested Company RSUs then issued and outstanding would vest and become fully exercisable, (ii) a Change of Control of CCMH (as defined in the Clear Channel 2008 Executive Incentive Plan), all
unvested CCMH Options then issued and outstanding would vest and become fully exercisable, or (iii) Employee’s termination by the Company without Cause pursuant to Section 8(c) or termination by the Employee for Good Cause pursuant to
Section 8(d), (x) all unvested Company RSUs issued and outstanding as of the termination date would become fully vested and (y) if such termination is after August 31 of a calendar year, a pro-rata portion of the unvested Company
Options that would have vested prior to the December 31 of the year of termination in accordance with the vesting schedule described within this Section 3(f) shall become vested and fully exercisable during the 90 day period following
Employee’s termination of employment (with such pro-rata portion determined by multiplying the number of Company Options that would have vested prior to such December 31 by a fraction, the numerator of which is equal to the number of days
elapsed during the calendar year that includes Employee’s date of termination and the denominator of which is 365). 

 4. NONDISCLOSURE OF CONFIDENTIAL INFORMATION. During the course of the Employee’s employment
with the Company, the Company will provide the Employee with access to certain confidential information, trade secrets, and other matters which are of a confidential or proprietary nature, including but not limited to the Company’s customer
lists, pricing information, production and cost data, compensation and fee information, strategic business plans, budgets, financial statements, and other information the Company treats as confidential or proprietary (collectively the
“Confidential Information”). The Company provides on an ongoing basis such Confidential Information as the Company deems necessary or desirable to aid the Employee in the performance of his duties. The Employee understands and acknowledges
that such Confidential Information is confidential and proprietary, and agrees not to use or disclose such Confidential Information to anyone outside the Company except to the extent that (i) the Employee deems such disclosure or use reasonably
necessary or appropriate in connection with performing his duties on behalf of the Company; (ii) the Employee is required by order of a court of competent jurisdiction (by subpoena or similar process) to disclose or discuss any Confidential
Information, provided that in such case, the Employee shall promptly inform the Company of such event, shall cooperate with the Company in attempting to obtain a protective order or to otherwise restrict such disclosure, and shall only disclose
Confidential Information to the minimum extent necessary to comply with any such court order. Confidential Information shall no longer be deemed confidential or proprietary at such time as it becomes generally known to and available for use in the
industries in which the Company does business, other than as a result of any action or inaction by the Employee. The Employee further agrees that he will not during employment and/or at any time thereafter use such Confidential Information in
competing, directly or indirectly, with the Company. At such time as the Employee shall cease to be employed by the Company, he will immediately turn over to the Company all Confidential Information, including papers, documents, writings,
electronically stored information, other property, and all copies of them, provided to or created by him during the course of his employment with the Company. This nondisclosure covenant is binding on the Employee, as well as his heirs, successors,
and legal representatives, and will survive the termination of this Agreement for any reason. 
 5. NONHIRE OF COMPANY EMPLOYEES. To
further preserve the rights of the Company pursuant to the nondisclosure covenant discussed above, and for the consideration promised by the Company under this Agreement, during the term of the Employee’s employment with the Company and for a
period of eighteen (18) months thereafter, regardless of the reason for termination of employment, the Employee will not, directly or indirectly, (i) hire any current or prospective employee of the Company, or any subsidiary or affiliate
of the Company (including, without limitation, any current or prospective employee of the Company within the 6-month period preceding the Employee’s last day of employment with the Company or within the 18-month period of this covenant) who
worked, works, or has been offered employment by the Company and with respect to whom Employee had any role, direct or indirect, in recruiting on behalf of the Company or who was, or would have been, a direct report of Employee in his position at
the Company; (ii) solicit or encourage any such employee to terminate their employment with the Company, or any subsidiary or affiliate of the Company; or (iii) solicit or encourage any such employee to accept employment with any business,
operation, corporation, partnership, association, agency, or other person or entity with which the Employee may be associated. 

 6. NON-INTERFERENCE. To further preserve the rights of the Company pursuant to the nondisclosure
covenant discussed above, and for the consideration promised by the Company under this Agreement, during the term of the Employee’s employment with the Company and for a period of eighteen (18) months thereafter, regardless of the reason
for termination of employment, the Employee will not, directly or indirectly, for the benefit of any Competing Business (determined, for purposes of this paragraph, without respect to any geographic limitations on scope that might otherwise apply to
such definition for other purposes within this Agreement), call upon, compete for, solicit, divert, or take away, or attempt to divert or take away current or prospective customers (including, without limitation, any customer with whom the Company,
or any subsidiary or affiliate of the Company, (i) has an existing agreement or business relationship; (ii) has had an agreement or business relationship within the six-month period preceding the Employee’s last day of employment with
the Company; or (iii) has included as a prospect in its applicable pipeline) of the Company, or any subsidiary or affiliate of the Company. 
 7. NON-COMPETITION. To further preserve the rights of the Company pursuant to the nondisclosure covenant discussed above, and for the consideration promised by the Company under this Agreement, during the Employee’s employment
with the Company and for a period of eighteen (18) months thereafter (such eighteen (18) month period, the “Non-Compete Period”), regardless of the reason for termination of employment, the Employee will not, directly or
indirectly, as an owner, director, principal, agent, officer, employee, partner, consultant, servant, or otherwise, carry on, operate, manage, control, or become involved in any manner with any business, operation, corporation, partnership,
association, agency, or other person or entity which is in the same business as the Company in any location in which the Company, or any subsidiary or affiliate of the Company, operates or has plans or has projected to operate during the
Employee’s employment with the Company, including any area within a 50-mile radius of any such location (a “Competing Business”). The foregoing shall not prohibit the Employee from owning up to 5.0% of the outstanding stock of any
publicly held company. Notwithstanding the foregoing, after the Employee’s employment with the Company has terminated, upon receiving written permission by the Board, the Employee shall be permitted to engage in such competing activities that
would otherwise be prohibited by this covenant if such activities are determined in the sole discretion of the Board in good faith to be immaterial to the operations of the Company, or any subsidiary or affiliate of the Company, in the location in
question. 
 The Company and the Employee agree that the restrictions contained in this noncompetition covenant are reasonable in scope and
duration and are necessary to protect the Company’s business interests and Confidential Information. If any provision of this noncompetition covenant as applied to any party or to any circumstance is adjudged by a court or arbitrator to be
invalid or unenforceable, the same will in no way affect any other circumstance or the validity or enforceability of this Agreement. If any such provision, or any part thereof, is held to be unenforceable because of the scope, duration, or
geographic area covered thereby, the parties agree that the court or arbitrator making such determination shall have the power to reduce the scope and/or duration and/or geographic area of such provision, and/or to delete specific words or phrases,
and in its reduced form, such provision shall then be enforceable and shall be enforced. The parties agree and acknowledge that the breach of this noncompetition covenant may cause irreparable damage to the Company, and upon breach of any provision
of this noncompetition covenant, the Company shall be entitled to injunctive relief, specific

 
performance, or other equitable relief; provided, however, that this shall in no way limit any other remedies which the Company may have (including, without limitation, the right to seek monetary
damages). 
 Should the Employee violate the provisions of this noncompetition covenant, then in addition to all other rights and remedies
available to the Company at law or in equity, the duration of this covenant shall automatically be extended for the period of time from which the Employee began such violation until he permanently ceases such violation. 
 8. TERMINATION 
 Employment
may be terminated by mutual agreement or: 
 (a) Death. The date of Employee’s death shall be the termination date.

 (b) Disability. Company may terminate employment if Employee is unable to perform the essential functions of his
full-time position for more than 180 consecutive days in any 12 month period, subject to applicable law. 
 (c) Termination
By Company. Company may terminate employment with or without Cause. “Cause” means Employee’s: 
 (i) willful
misappropriation of or material misrepresentation regarding property of Company that causes material and demonstrable injury to the Company, whether monetary or otherwise, but not including customary and de minimis use of Company property for
personal purposes, as determined in discretion of Company; 
 (ii) willful and unreasonable refusal to follow lawful directives
of the CEO; 
 (iii) felony conviction, plea of nolo contendere for a felony, or other criminal conduct that has or would result
in material and demonstrable injury, whether monetary or otherwise, to Company’s reputation, including conviction of fraud, theft, embezzlement, or a crime involving moral turpitude; 
 (iv) material breach of this Agreement; or 
 (v) significant violation of Company’s written employment and management policies that causes material and demonstrable injury, whether monetary or otherwise, to the Company, including without
limitation, violation of sexual or other harassment policies. 
 If Company elects to terminate for Cause under (c)(i), (ii),
(iv) or (v), Employee shall have thirty (30) days to cure after written notice, except where such cause, by its nature, is not curable or the termination is based upon a recurrence of an act previously cured by Employee. 
 (d) Termination By Employee For Good Cause. Employee may terminate his employment at any time for “Good Cause,” which is:
(i) Company’s failure to comply with a material term of this Agreement after written notice by Employee specifying the alleged failure; and Company’s failure to cure within thirty (30) days after such notice; or (ii) a
substantial and

 
unusual increase in responsibilities and authority without an offer of additional reasonable compensation as determined by Company in light of compensation for similarly situated employees; or
(iii) a substantial and unusual reduction in responsibilities or authority. If Employee elects to terminate his employment for “Good Cause,” Employee must provide Company written notice within thirty (30) days after
Employee’s knowledge of the specific acts or events which give rise to “Good Cause” (or, if earlier, the date Employee reasonably should have known of such specific acts or events), after which Company shall have thirty (30) days
to cure. If Company has not cured and Employee elects to terminate his employment, he must do so within ten (10) days after the end of the cure period. 
 (e) Termination By Employee Without Good Cause. Employee may terminate his employment at any time without “Good Cause” with ninety (90) days advance written notice to the CEO (which
termination of employment with such advance written notice shall not constitute a breach of this Agreement by Employee), in which case the Company may terminate Employee’s employment immediately upon or anytime after receipt of such notice,
which termination shall not be a termination by the Company without Cause, and pay Employee any Base Salary remaining with respect to such ninety (90) day advance notice period if Employee signs a Severance Agreement and General Release of
claims in a form satisfactory to Company. 
 9. COMPENSATION UPON TERMINATION 
 (a) Death. Upon termination of employment pursuant to Section 8(a), the Company shall pay to Employee’s designee or, if no
person is designated, to Employee’s estate, (i) Employee’s unpaid Base Salary, if any, less applicable payroll, taxes and other deductions, that was earned through the termination date but not otherwise previously paid, which shall be
paid within 30 days of the date of Employee’s termination of employment (“Accrued Base Salary”), (ii) the Annual Bonus, if any, that Employee earned with respect to the calendar year prior to the calendar year that includes the
termination date (to the extent not paid as of the date of termination) shall be paid at the time such Annual Bonus is payable in accordance with Section 3(c), less applicable payroll, taxes and other deductions (the “Unpaid Prior Year
Bonus”), (iii) a pro-rata portion of the Annual Bonus for the calendar year that includes the termination date (which proration shall be determined by the Company and payable only as follows: If Employee’s termination date is between
September 1st and December 31st, Employee will receive a pro-rata portion of the Annual Bonus calculated based upon performance as of the termination date as related to overall performance at the end of the calendar year for which pro-rata
portion of the Annual Bonus Employee shall be eligible only if a bonus would have been earned by the end of the calendar year and the calculation and payment of the pro-rata bonus, if any, will be pursuant to the plan in effect during the calendar
year that includes the date of termination), less applicable payroll, taxes and other deductions (the “Pro-Rata Bonus”) and (iv) any payments required under applicable employee benefit plans. The Company shall have no further
obligation to Employee upon such termination under this Agreement. 
 (b) Disability. Upon termination of employment
pursuant to Section 8(b), the Company shall pay any Accrued Base Salary and any payments required under applicable employee benefit plans. In addition, if Employee signs and delivers a Severance Agreement and General Release of claims in a form
satisfactory to the Company (the “Release”) and such Release is no longer subject to revocation, if applicable, on the date that is sixty (60) days after the date of Employee’s termination of employment (the “Payment
Date”), then the Company shall pay to Employee on the Payment Date, if payable, any (i) Unpaid Prior Year Bonus and/or (ii) any Pro-Rata Bonus. 

 (c) Termination By Company For Cause: Upon termination of employment by the Company
for Cause pursuant to Section 8(c), the Company shall pay to Employee any Accrued Base Salary and any payments required under applicable employee benefit plans. The Company shall have no further obligation to Employee upon such termination
under this Agreement. 
 (d) Termination By Company Without Cause or By Employee With Good Cause. Upon termination of
employment by the Company without Cause pursuant to Section 8(c) and not by reason of disability (within the meaning of Section 8(b)), or upon termination of employment by Employee for Good Cause pursuant to Section 8(d), the Company
will pay to Employee any Accrued Base Salary and any payments required under applicable employee benefit plans, and, to the extent provided within Section 3(f)(c) above, certain of the unvested Company RSUs, Company Options and CCMH Options may
fully vest and become exercisable. In addition, if Employee signs and delivers the Release to the Company after the date of Employee’s termination of employment and such Release is no longer subject to revocation, if applicable, on the Payment
Date, then the Company shall pay to Employee a single lump sum on the Payment Date equal to (less applicable payroll, taxes and other deductions), (i) one and one-half (1.5) times the sum of (x) Employee’s annual rate of Base
Salary on the date of termination plus (y) the Target Bonus with respect to the calendar year that includes the date of termination (the “Severance Payment”), plus, if payable, any (ii) Unpaid Prior Year Bonus and/or
(iii) Pro-Rata Bonus. The Company shall have no further obligation to Employee upon such termination under this Agreement. 
 Notwithstanding the foregoing, if Employee violates Section 7 of this Agreement during the Non-Compete Period, then Employee shall forfeit any right to the pro-rata portion of the Severance Payment equal to the product of (x) the
number of full months remaining in the Non-Compete Period after the date such breach occurs divided by eighteen (18) multiplied by (y) the Severance Payment, and Employee shall reimburse such forfeited pro-rata portion of the Severance
Payment to the Company within thirty (30) days of notice of such violation from the Company. The foregoing shall not affect Company’s right to enforce the Non-Compete pursuant to Section 7. 
 (e) Termination By Employee Without Good Cause: Upon termination of employment by Employee without Good Cause pursuant to
Section 8(e), the Company shall pay any Accrued Base Salary and any payments required under applicable employee benefit plans. In addition, if Employee signs and delivers the Release after the date of Employee’s termination of employment
and such Release is no longer subject to revocation, if applicable, on the Payment Date, then the Company shall pay to Employee on the Payment Date, if payable, any Unpaid Prior Year Bonus. If the Company terminates Employee’s employment
immediately upon or after receipt of Employee’s notice of termination (such termination by the Company shall not be deemed a termination by the Company without Cause), the Company shall also pay any pro-rata Base Salary for the remaining
portion of the ninety (90) day notice advance period as described in Section 8(e) if Employee signs and delivers the Release after the date of Employee’s termination of employment and such Release is no longer subject to revocation,
if applicable, on the Payment Date (and pro-rata Base Salary that would otherwise be paid sooner shall be paid on 

 
the earlier of the date such Release becomes irrevocable or the Payment Date). The Company shall have no further obligation to Employee upon such termination under this Agreement. 
 (f) Nonqualified Deferred Compensation. To the extent that the payment of any amount under this Section 9 constitutes
“nonqualified deferred compensation” for purposes of Code Section 409A (as defined in Section 19), any such payment scheduled to occur during the first sixty (60) days following the termination of employment shall not be
paid until the sixtieth (60th) day following such termination and shall include payment of any amount that was otherwise scheduled to be paid prior thereto. In addition, if the Employee is deemed on the date of termination to be a
“specified employee” within the meaning of Code Section 409A(a)(2)(B), any amounts to which Employee is entitled under this Section 9 that constitute “non-qualified deferred compensation” under Code Section 409A
and would otherwise be payable prior to the earlier of (i) the 6-month anniversary of the Employee’s date of termination and (ii) the date of the Employee’s death (the “Delay Period”) shall instead be paid in a lump sum
immediately upon (and not before) the expiration of the Delay Period to the extent required under Code Section 409A. 
 10. OWNERSHIP OF
MATERIALS 
 Employee agrees that all inventions, improvements, discoveries, designs, technology, and works of authorship
(including but not limited to computer software) made, created, conceived, or reduced to practice by Employee, whether alone or in cooperation with others, during employment, together with all patent, trademark, copyright, trade secret, and other
intellectual property rights related to any of the foregoing throughout the world, are among other things works made for hire and belong exclusively to the Company, and Employee hereby assigns all such rights to the Company. Employee agrees to
execute any documents, testify in any legal proceedings, and do all things necessary or desirable to secure Company’s rights to the foregoing, including without limitation executing inventors’ declarations and assignment forms. 

11. LIMITATION ON BENEFITS 
 Notwithstanding anything to the contrary contained in this Agreement, to the extent that any of the payments and benefits provided for under this Agreement or any other agreement or arrangement between the Company and Employee
(collectively, the “Payments”) (i) constitute a “parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and (ii) but for this
Section 8(g), would be subject to the excise tax imposed by Section 4999 of the Code, then the Payments shall be payable either (i) in full or (ii) as to such lesser amount which would result in no portion of such Payments being
subject to excise tax under Section 4999 of the Code (determined in accordance with the reduction of payments and benefits paragraph set forth below); whichever of the foregoing amounts, taking into account the applicable federal, state and
local income taxes and the excise tax imposed by Section 4999, results in Employee’s receipt on an after-tax basis, of the greatest amount of benefits under this Agreement, notwithstanding that all or some portion of such benefits may be
taxable under Section 4999 of the Code. Unless Employee and the Company otherwise agree in writing, any determination required under this Section shall be made in writing by the Company’s independent public accountants (the
“Accountants”), whose determination shall be conclusive and binding upon Employee and the Company for all purposes. For purposes of making the calculations required by this Section, the Accountants may make reasonable

 
assumptions and approximations concerning applicable taxes and may rely in reasonable, good faith interpretations concerning the application of Section 280G and 4999 of the Code. The Company
and Employee shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section. If any Payments would be reduced pursuant to the immediately preceding
sentence but would not be so reduced if the stockholder approval requirements of section 280G(b)(5) of the Code are satisfied, the Company shall use its reasonable best efforts to cause such payments to be submitted for such approval prior to the
event giving rise to such payments. 
 The reduction of payments and benefits hereunder, if applicable, shall be made by
reducing, first, payments or benefits to be paid in cash hereunder in the order in which such payment or benefit would be paid or provided (beginning with such payment or benefit that would be made last in time and continuing, to the extent
necessary, through to such payment or benefit that would be made first in time) and, then, reducing any benefit to be provided in-kind hereunder in a similar order. 
 12. PARTIES BENEFITED; ASSIGNMENTS 
 This Agreement shall be binding upon
Employee, his heirs and his personal representative or representatives, and upon Company and its respective successors and assigns. Neither this Agreement nor any rights or obligations hereunder may be assigned by Employee, other than by will or by
the laws of descent and distribution. 
 13. GOVERNING LAW 
 This Agreement shall be governed by the laws of the State of Texas and Employee expressly consents to the personal jurisdiction of the Texas state and federal courts for any lawsuit relating to this
Agreement. 
 14. DEFINITION OF COMPANY 
 “Company” shall include Clear Channel Communications, Inc., and its past, present and future divisions, operating companies, subsidiaries, affiliates and successors in interest. 
 15. LITIGATION AND REGULATORY COOPERATION 
 During and after employment, Employee shall reasonably cooperate in the defense or prosecution of claims, investigations, or other actions which relate to events or occurrences during employment.
Employee’s cooperation shall include being available to prepare for discovery or trial and to act as a witness. Company will pay an hourly rate (based on Base Salary as of the last day of employment) for cooperation that occurs after
employment, and reimburse for reasonable expenses, including travel expenses, reasonable attorneys’ fees and costs. 
 16.
INDEMNIFICATION 
 Company shall defend and indemnify Employee for acts committed in the course and scope of employment to
the full extent permitted by law. 

 17. DISPUTE RESOLUTION 
  

	(a)	Injunctive Relief: Employee agrees that irreparable damages to Company may result from Employee’s breach of this Agreement, including loss of revenue, loss
of goodwill associated with Employee as a result of employment, and/or loss of the benefit to Company of any training, confidential, and/or trade secret information provided to Employee, and any other tangible and intangible investments made to and
on behalf of Employee. A breach or threat of breach of this Agreement shall give the non-breaching party the right to seek a temporary restraining order and a preliminary or permanent injunction enjoining the breaching party from violating this
Agreement in order to prevent immediate and irreparable harm. The breaching party shall pay to the non-breaching party reasonable attorneys’ fees and costs associated with enforcement of this Agreement, including any appeals. Pursuit of
equitable relief under this Agreement shall have no effect regarding the continued enforceability of the Arbitration Section below. Remedies for breach under this Section are cumulative and not exclusive; the parties may elect to pursue any remedies
available under this Agreement. 

  

	(b)	Arbitration: The parties agree that any dispute or claim, including discrimination or retaliation claims, relating to this Agreement or arising out of
Employee’s employment or termination of employment, shall, upon timely written request of either party, be submitted to binding arbitration, except claims regarding: (i) workers’ compensation benefits; (ii) unemployment benefits;
(iii) Company’s employee welfare benefit plans, if the plan contains a final and binding appeal procedure for the resolution of disputes under the plan; (iv) wage and hour disputes within the jurisdiction of any state Labor
Commissioner; and (v) issues that could be brought before the National Labor Relations Board or covered by the National Labor Relations Act. This Agreement is not intended to prohibit the Employee from filing a claim or communicating with
any governmental agency including the Equal Employment Opportunity Commission, the National Labor Relations Board or the Department of Labor. The arbitration shall be conducted in the market in which Employee resides. The arbitration shall
proceed in accordance with the National Rules for Resolution of Employment Disputes of the American Arbitration Association (“AAA”) in effect at the time the claim or dispute arose, unless other rules are agreed upon by the parties.
Unless agreed to in writing, the arbitration shall be conducted by one arbitrator from AAA or a comparable arbitration service, and who is selected pursuant to the National Rules for Resolution of Employment Disputes of the AAA, or other rules as
the parties may agree to in writing. Any claims received after the applicable statute of limitations period shall be deemed null and void. The arbitrator shall issue a reasoned award with findings of fact and conclusions of law. Either party may
bring an action in any court of competent jurisdiction to compel arbitration under this Agreement, or to enforce or vacate an arbitration award. However, in actions seeking to vacate an award, the standard of review to be applied by said court to
the arbitrator’s findings of fact and conclusions of law will be the same as that applied by an appellate court reviewing a decision of a trial court sitting without a jury, unless state law requires otherwise. Company will pay the actual costs
of arbitration excluding attorneys’ fees. Unless otherwise provided by law and awarded by the arbitrator, each party will pay its own attorneys’ fees and other costs. 

 18. REPRESENTATIONS AND WARRANTIES OF EMPLOYEE 
 Employee shall keep all terms of this Agreement confidential, except as may be disclosed to Employee’s spouse, accountants or attorneys.
Employee represents that he is under no contractual or other restriction inconsistent with the execution of this Agreement, the performance of his duties hereunder, or the rights of Company. Employee represents that he is under no disability that
would hinder the performance of his duties. 
 19. SECTION 409A COMPLIANCE 
  

	(a)	It is the intent of the Company and Employee that the payments and benefits under this Agreement shall comply with Section 409A and applicable regulations
and guidance thereunder (collectively, “Section 409A”) of the Internal Revenue Code of 1986, as amended, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance with Section 409A. In
no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on Employee by Section 409A or for any damages for failing to comply with Section 409A. 

  

	(b)	Notwithstanding anything herein to the contrary, a termination of the Employment Period shall not be deemed to have occurred for purposes of any provision of
this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A (which, by definition,
includes a separation from any other entity that would be deemed a single employer together with the Company for this purpose under Section 409A), and for purposes of any such provision of this Agreement, references to a
“termination”, “termination of the Employment Period”, “termination of employment” or similar terms shall mean “separation from service.” 

  

	(c)	To the extent any reimbursements or in-kind benefits under this Agreement constitute “non-qualified deferred compensation” for purposes of
Section 409A, (i) all such expenses or other reimbursements under this Agreement shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by Employee, (ii) any right
to reimbursement or in kind benefits is not subject to liquidation or exchange for another benefit, and (iii) no such reimbursement, expenses eligible for reimbursement or in-kind benefits provided in any taxable year shall in any way affect
the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year. 

  

	(d)	For purposes of Section 409A, Employee’s right to receive any installment payment pursuant to this Agreement shall be treated as a right to receive a
series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within thirty (30) days following the date of termination”),
the actual date of payment within the specified period shall be within the Company’s sole discretion. Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payment under this Agreement that constitutes
“non-qualified deferred compensation” for purposes of Section 409A be subject to offset, counterclaim or recoupment by any other amount unless otherwise permitted by Section 409A. 

 20. MISCELLANEOUS 
 This Agreement is not effective unless fully executed by all parties, which may be done in counterparts. This Agreement contains the entire agreement of the parties and supersedes any prior written or
oral agreements or understandings between the parties. No modification shall be valid unless in writing and signed by the parties. The failure of a party to require performance of any provision of this Agreement shall not affect the right of such
party to later enforce any provision. A waiver of the breach of any term or condition of this Agreement shall not be deemed a waiver of any subsequent breach of the same or any other term or condition. If any provision of this Agreement shall, for
any reason, be held unenforceable, such unenforceability shall not affect the remaining provisions hereof, except as specifically noted in this Agreement, or the application of such provisions to other persons or circumstances, all of which shall be
enforced to the greatest extent permitted by law. Company and Employee agree that the restrictions contained in Section 5, 6, and 7, are reasonable in scope and duration and are necessary to protect Confidential Information. If any restrictive
covenant is held to be unenforceable because of the scope, duration or geographic area, the parties agree that the court or arbitrator may to reduce the scope, duration, or geographic area, and in its reduced form, such provision shall be
enforceable. Should Employee violate the provisions of Sections 5, 6, or 7, then in addition to all other remedies available to Company, the duration of these covenants shall be extended for the period of time when Employee began such violation
until he permanently ceases such violation. All provisions of this Agreement having or contemplated as having continued application from and after the termination of the Employment Period shall survive and continue in full force in accordance with
their terms notwithstanding the termination of the Employment Period. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall be
applied against any party. The headings in this Agreement are inserted for convenience of reference only and shall not control the meaning of any provision hereof. 
 [Signature Page Follows] 

 Upon full execution by all parties, this Agreement shall be effective on the Effective Date
in Section 1. 
  

					
	 EMPLOYEE:
	  		 	
			
	 /s/ Ronald Cooper
	  	Date:	 	 December 10, 2009

	 Ronald Cooper
	  		 	
			
	 COMPANY:
	  		 	
			
	 /s/ Mark P. Mays
	  	Date:	 	 December 10, 2009

	Mark P. Mays	  		 	
	Chief Executive Officer	  		 	
	Clear Channel Outdoor Holdings, Inc.Contract of Employment of Jonathan Bevan

 Exhibit 10.1 
 CONTRACT OF EMPLOYMENT 
 THIS CONTRACT is made the 30 October
2009 and is made between: 
  

	(1)	CLEAR CHANNEL OUTDOOR LTD whose registered office is 33 Golden Square London W1F 9JT (the Company); and 

  

	(2)	JONATHAN BEVAN of 15 Denning Road, London NW3 1ST (You). 

  

	1.	GENERAL 

  

	1.1	This Contract of Employment (the Contract) sets out the particulars of your employment with the Company as at the date of this Contract and complies with section
1 of the Employment Rights Act 1996. 

  

	1.2	Your employment under this agreement will begin with effect from 1 January 2010. However, for the purposes of the Employment Rights Act 1996, your period of
continuous employment with the Company began on 7 July 1997 (the Employment). 

  

	1.3	In the event of any inconsistency between the terms of this Contract and the Employee Handbook, the terms of this Contract will prevail. 

  

	1.4	In this Contract, Group Company shall mean any company which is for the time being a subsidiary or holding company of the Company (as defined in section 1159 of
the Companies Act 2006) and any company in which the Company or any subsidiary or holding company of the Company (as defined in section 1159 of the Companies Act 2006) has a beneficial ownership of or controls 20% or more of the issued share
capital. 

  

	2.	JOB TITLE/DUTIES 

  

	2.1	You are employed as the Company’s Chief Operating Officer, International and will report to the President and Chief Executive Officer of Clear Channel Outdoor
Limited currently William Eccleshare (Your Director). The Company reserves the right to change Your Director at any time without your prior agreement although the Company will notify you of any such change. 

  

	2.2	 You will devote the whole of your time attention and abilities to the duties which you will perform on behalf of the Company and any Group Company for
the time being and you will

  

 - 1 - 

	 	 
not during the course of the Employment without the prior written consent of your Director provide your services to or engage in any other business or activity which is in any way similar or
related to the business of the Company or any Group Company. 

  

	2.3	You acknowledge and agree that the Company has the right to monitor your use of computer and telecommunications equipment provided to you for the purpose of the
Employment and including your use of internet, email and telephone correspondence. 

  

	2.4	You will promptly disclose to the Board in writing: 

  

	 	2.4.1	any actual or intended material breach of duty or lawful obligation owed by you or by any other employee to the Company or any Group Company of which you become aware;

  

	 	2.4.2	any offer of employment made to you or any offer of employment made to any other employee of the Company or any Group Company of which you become aware in each case
where that offer of employment is made by or on behalf of any third party engaged in providing products or services in outdoor advertising in competition with the Company or any Group Company; 

  

	 	2.4.3	any approach made by or on behalf of any third party, whether to you or to any other employee of the Company or any Group Company of which you become aware and which
you know (or ought reasonably to have known) is intended to result in the diversion of business away from the Company or any Group Company. 

  

	2.5	You acknowledge and agree that you are at all times during your employment, including during any period of suspension or during any Garden Leave Period, subject to a
duty of goodwill, trust, confidence, exclusive service, faith and fidelity to the Company. These duties include, without limitation the duty throughout the duration of this Contract: 

  

	 	2.5.1	not to compete with the Company or any Group Company; 

  

	 	2.5.2	not to make preparations (during such hours as you should be providing services under this Contract) to compete with the Company or any Group Company after this
Contract has terminated; 

  

	 	2.5.3	not to solicit in competition with the Company or any Group Company any customer or customers of the Company or Group Company; 

  

 2 

	 	2.5.4	not to entertain invitations to provide services either in a personal capacity or on behalf of any third party from actual or prospective customers of the Company or
any Group Company where such invitations relate to services which could be provided by the Company or any Group Company; 

  

	 	2.5.5	not to offer employment elsewhere to employees of the company or any Group Company (other than employment by the Company or any Group Company);

  

	 	2.5.6	not to copy or memorise confidential information or trade secrets of the Company or any Group Company with a view to using or disclosing such information for a purpose
other than for the benefit of the Company or the Group Company; and 

  

	 	2.5.7	not to conspire, collude, cooperate with or otherwise encourage, procure or assist any third party to do anything which, if done by you, would be a breach of 2.5.1 to
2.5.6 above. 

  

	3.	PLACE OF WORK 

  

	3.1	Your normal place of work will be 33 Golden Square, London, W1F 9JT however you will be required to work at other places within the United Kingdom and abroad as
required to fulfil your duties. The Company’s policies relating to travel and expenses as amended from time to time will apply in respect of the costs of such travel. The Company also reserves the right to change your normal place of work to
any other location within Greater London. 

  

	4.	HOURS OF WORK 

  

	4.1	Your normal hours of work are 37.5 hours per week, Monday to Friday. You will work such additional hours and at different times as may reasonably be required to meet
the needs of the business. 

  

	4.2	There is no contractual right to overtime and any overtime payments are at the sole and absolute discretion of the Company. 

  

	4.3	You agree that the limits on working time in Regulation 4(1) of the Working Time Regulations 1998 will not apply to your Employment (opt-out). You may (subject
to the provisions of the Regulations) give three months written notice to the Company that you wish to revoke your agreement to this opt-out. 

  

 3 

	5.	REMUNERATION 

  

	5.1	 You will be paid your basic salary monthly in arrears by credit transfer to your Bank account on or about the 25th day of each month at the rate of £240,000 per annum (each
instalment being deemed to accrue rateably from day to day). Your salary (and any other payments (if any) due to you from time to time under the terms of this agreement) will be paid to you via the Company’s payroll subject to appropriate
deductions for income tax and National Insurance contributions. 

  

	5.2	Your basic salary will be reviewed annually from 1 April (commencing April 2011) at the absolute discretion of the Company. 

  

	5.3	Details of the bonus arrangements applicable to you are set out in Schedule 2. 

  

	5.4	 In addition to your basic salary, you will be entitled to receive a non-pensionable car allowance of 1/12th of your salary per annum. This allowance will be paid in equal
monthly instalments with your salary less tax and National Insurance contributions. The allowance shall be deemed to include all costs of road fund licence, insurance premiums and running costs of the car, including fuel, oil, maintenance and
repairs. 

  

	5.5	During this agreement, you will be entitled to participate at the Company’s expense in the Company’s life assurance and private medical insurance schemes.
Your membership of these schemes is subject to the rules of those schemes from time to time (and any replacement schemes provided by the Company) and to you (and if appropriate your spouse and dependent children) being eligible to participate in or
benefit from such schemes pursuant to their rules. If any scheme provider (including but not limited to any insurance company) refuses for any reason (whether based on its own interpretation of the terms of the insurance policy or otherwise) to
provide any benefits, the Company is not liable to provide any replacement benefits of the same or similar kind or to pay compensation in lieu of such benefit. 

  

	5.6	You will continue to be a member of the Directors section of the defined benefit section of the pension scheme currently operated by the Company subject to the rules of
the scheme from time to time in force. 

  

 4 

	6.	ABSENCE FROM WORK 

  

	6.1	If you are absent for any reason you should inform your Director (or his/her nominee from time to time) as soon as possible but by the end of the first day.

  

	6.2	You must submit a medical certificate to the Company signed by your doctor as to the reason for the absence if you are absent for any period of 8 consecutive days or
more. A new medical certificate should be sent each week thereafter. 

  

	6.3	For the purposes of Statutory Sick Pay the agreed “qualifying days” are Monday to Friday. 

  

	6.4	There is no contractual entitlement to sick pay in the event of absence from work by reason of illness or incapacity. Any payment made will be at the sole and absolute
discretion of the Company as detailed in the employee handbook. 

  

	6.5	For the avoidance of doubt the provisions of this clause 6 will not prejudice or limit in any way the Company’s right to terminate the Employment pursuant to
clauses 8 or otherwise pursuant to its terms. 

  

	6.6	The Company reserves the right to require you at any time to undergo a medical examination and you authorise the Company’s Board of Directors to have unconditional
access to any report or reports (including copies) produced as a result of any such examination as the Board may from time to time require. 

  

	7.	HOLIDAYS 

  

	7.1	You are entitled to the following holidays during which you will be paid your normal remuneration: 

  

	 	7.1.1	Subject to clause 8.2 below, eight Statutory holidays, which are New Year’s Day, Good Friday, Easter Monday, May Day, Spring Bank Holiday, Late Summer Bank
Holiday, Christmas Day and Boxing Day unless on any such Bank Holiday you are required to carry out your duties of the Employment, in which case you will be given another day’s holiday in lieu of the Bank Holiday worked.

  

	 	7.1.2	additional entitlement period of 30 working days accumulating at the rate of 2.5 days per completed calendar month’s service. This entitlement is subject to the
following sub clauses of this Clause 7 and shall be taken at times to be agreed in advance with the Company. 

  

 5 

	7.2	The Company reserves the right to require you to work on any statutory holiday. In the event that you are required to work on a statutory holiday you will be given a
day’s holiday in lieu to be taken at a time to be agreed with your Director. 

  

	7.3	The holiday year is the calendar year from 1 January to 31 December and you should take your holidays during this period. You will not be permitted to carry
over more than 5 unused holiday days entitlement into a following holiday year except in exceptional circumstances with the express written consent of your Director. 

  

	7.4	You may not take as holiday more than 10 working days consecutively out of your entitlement without the prior written consent of the Company. 

 

	7.5	If you leave the Employment with outstanding holiday entitlement, you will, in addition to any other sums to which you may be entitled, be paid a sum representing
salary for the number of days holiday entitlement outstanding. If you leave the Employment having taken more than the accumulated holiday entitlement for the current holiday year then a sum equivalent to wages for the additional holiday taken will
be deducted from any final payment to you and the balance will be paid to you. 

  

	7.6	 A day’s pay for holiday pay purposes is calculated as 1/260th of your annual basic salary. 

  

	7.7	The Company may require that you take any unused holiday during a period of notice being served by you and if the Company exercises its right to place you on garden
leave pursuant to clause 8.3 below, you will be deemed to take any accrued untaken holiday during your garden leave period and so will have no separate entitlement to payment for it when your Employment actually terminates. You have no right to take
holiday during a period of notice except with the Company’s prior agreement. 

  

	8.	TERMINATION OF EMPLOYMENT 

  

	8.1	(a) Subject to clause 8.6the Company may terminate the employment by serving not less than twelve months’ notice in writing. 

 (b) You may terminate the employment serving not less than six (6) months notice in writing or a shorter notice period as agreed between
you and the Company. 
  

	8.2	The Company shall have the right to suspend you (subject to the continued payment of your salary and benefits) pending any investigation into any potential dishonesty,
gross misconduct or any other circumstances which may give rise to a right to the Company to terminate your employment for such period as it thinks fit. 

  

 6 

	8.3	You agree that you have no right to be provided with work by the Company and at any time after either you or the Company have given notice to terminate the Employment
(or if you resign without giving the required notice and the Company does not accept your resignation on that basis) then the Company may: 

  

	 	8.3.1	require you not to carry out your duties or to exercise your powers or responsibilities under this Contract during the remaining period of your notice period (or any
part of such period); 

  

	 	8.3.2	require you to resign immediately from any offices you may hold in the Company or in any Group Company; 

  

	 	8.3.3	require you not to attend your place of work or any other premises of the Company or any Group Company during the remaining period of your notice (or any part of such
period); 

  

	 	8.3.4	require you not to make contact with any employees, agents or customers or clients of the Company or any Group Company except as directed by the Company during the
remaining period of your notice (or any part of such period); 

  

	 	8.3.5	require you to return to the Company all documents, computer disks and other property (including summaries, extracts or copies) belonging to the Company or any Group
Company or to its or their clients or customers; 

  

	 	8.3.6	require you to work from your home and/or to carry out exceptional duties or special projects outside the normal scope of your duties and responsibilities.

 The exercise of the right contained in this clause 8.3 shall be described in this Contract as Garden
Leave and the period during which it is exercised shall be described as the Garden Leave Period. 
  

	8.4	If the Company exercises its right under clause 8.3 above it will continue to pay to you your normal contractual remuneration as described in 5 above as long as you
comply with your obligations under this Contract. 

  

	8.5	 Where the Company terminates your employment during any financial year the Company

  

 7 

	 	 
will pay your annual bonus as set out in Schedule 2 pro-rata for the period of the year worked to the date of termination or the end of the Garden Leave Period described in 8.3 PROVIDED THAT the
bonus payment shall be calculated at year end based on actual audited results and shall be paid as soon as possible at the commencement of the following financial year. 

  

	8.6	Nothing in this Contract prevents the Company from terminating the Employment summarily or otherwise in the event of any serious breach by you of the terms of this
Contract or of any breach of the disciplinary rules of the Company or of any other rules or regulations applicable to the Employment from time to time. 

  

	8.7	At any time during the Employment, including during any Garden Leave Period, the Company may require you to return promptly to the Company all original and copy
documents, software and any other information-storing medium belonging or relating to the Company or any other Group Company and any other property belonging to the Company or any Group Company or belonging to any third party who has provided the
property to the Company or any Group Company for the use of that company which is in your possession or under your control. Any property returned will be in good working order and condition. 

  

	8.8	You will on the termination of your employment for any reason return to the Company all confidential information or property belonging or relating to the business of
the Company or any Group Company which is in your possession or under your control on the Termination Date in good working order and condition, including but not limited to any company car, mobile telephone, laptop computer, software, disks or data
(held in whatever form) and keys. 

  

	9.	RESIGNATION AS DIRECTOR 

  

	9.1	Without prejudice to clause 8.3.2 you will on termination of your Employment for any reason at the request of the Company resign immediately without claim for
compensation: 

  

	 	9.1.1	as a director of the Company and any Group Company of which you are a director; and 

  

	 	9.1.2	from all trusteeships held by you of any pension scheme or other trusts established by the Company or any Group Company or any other company with which you have had
dealings as a consequence of your employment with the Company. 

  

 8 

	9.2	If you fail to resign within seven days of request, the Company is irrevocably authorised to appoint a person to execute any documents and to do everything necessary to
effect such resignation or resignations on your behalf. 

  

	10.	INTELLECTUAL PROPERTY 

  

	10.1	You acknowledge that because of the nature of your duties and the particular responsibilities arising as a result of such duties that you owe to the Company and any
Group Company you have a special obligation to further the interests of the Company and each Group Company. 

  

	10.2	You shall promptly disclose to the Company any idea or invention created in the manner prescribed by sections 39(1) and 39(2) of the Patents Act 1977. Any such
inventions will then be dealt with in accordance with the provisions expressed in that Act. 

  

	10.3	You acknowledge that all trade marks, registered designs, design rights, copyright, database rights and other intellectual property rights (together, where registerable
with the right to apply for registration of the same, aside from those described in clause 10.2), whether in existence now or coming into existence at any time in the future, will, on creation either during the normal course of employment or by
using materials, tools or knowledge made available through your employment, vest in and be the exclusive property of the Company or any Group Company which the Company shall nominate and if required to do so (whether during or after the termination
of his employment), you shall execute all instruments and do all things necessary to vest ownership in the above rights in the Company as sole beneficial owner. Where the same does not automatically vest by Act of Parliament, you shall immediately
assign the same to the Company. You irrevocably waive all your rights pursuant to sections 77 to 83 inclusive of the Copyright Designs and Patents Act 1988 and any statutory amendment thereto. 

  

	10.4	You appoint the Company to be your attorney in your name and on your behalf to execute any such instrument or do any such thing necessary for the purpose of giving to
the Company or its nominee, the full benefit of the provisions of this clause 10 and acknowledge in favour of any third party that a certificate in writing signed by any director or secretary of the Company, that any instrument or act falls within
the authority conferred shall be conclusive evidence that such is the case. 

  

	10.5	Clauses 10.1, 10.2, 10.3 and 10.4 cannot be amended or varied other than by written agreement with the parties. 

  

 9 

	11.	NORMAL RETIREMENT AGE 

 The Company’s normal retirement age for Directors is 60. 
  

	12.	CONFIDENTIALITY AND RESTRICTIONS 

  

	12.1	In consideration for the payments and other benefits due to you under this Contract, you agree to enter into the restrictions in Schedule 1 to protect the legitimate
interests of the Company and any other Group Company. 

  

	12.2	You agree that if you receive any offer of employment or any other work during your Employment (including any Garden Leave Period) or at any time during the Restricted
Period, you will give to the person offering you the employment or engagement a copy of this clause 12 and Schedule 1. 

  

	13.	GRIEVANCE AND DISCIPLINARY PROCEDURES 

  

	13.1	The disciplinary rules and procedure and the grievance procedure applicable to the Employment are set out in the Employee Handbook. 

  

	13.2	Please note that those rules and procedures are not part of your contract of employment and do not have contractual force and effect unless expressly stated to the
contrary. 

  

	14.	DATA PROTECTION 

  

	14.1	Your personal data will be held by the Company in its manual and automated filing systems. You hereby consent to the processing and disclosure of such data internally
and, so far as is reasonably necessary, externally in order for the Employment under this Contract to be performed, for decisions to be made regarding your employment, or for the purpose of any potential sale or transfer of at least 50% (fifty per
cent) or the shares of the Company or any Group Company or any potential sale or transfer of any business of the Company or any Group Company to which in either case you are at the relevant time assigned including, in the event of a potential sale
or transfer, disclosure of such data to any proposed purchases or its advisers in confidence. 

  

	14.2	You further consent to the Company processing and disclosing sensitive data internally and externally to professional advisors in confidence or medical practitioners
including medical information for the purpose of assessing your ability to continue with Employment and data regarding sex, marital status, race, ethnic origin, disability for a purpose of monitoring to ensure equality of opportunity within the
Company. 

  

 10 

	14.3	You shall keep the Company informed of changes to his personal data. 

  

	15.	DEDUCTIONS 

 For the
purposes of the Employment Rights Act 1996, you hereby authorise the Company at any time during the continuance of this Contract and in any event on termination howsoever arising, to deduct from your remuneration (which for this purpose includes
salary, pay in lieu of notice, commission, bonus, holiday pay and sick pay) all debts owed by you to the Company or any Group Company, including but without limitation the balance outstanding of any loans (and interest where appropriate) advanced by
the Company to you, the cost of repairing any damage or loss to the Company’s property caused by you and any loss suffered by the Company as a result of any neglect or breach of duty by you. 
  

	16.	COLLECTIVE AGREEMENTS 

  

	16.1	There are no collective agreements that directly affect the terms and conditions of your employment. 

  

	17.	SMOKING POLICY 

  

	17.1	The Company operates a no smoking policy in respect of all of its premises. 

  

	18.	PRIOR AGREEMENTS 

 This
Contract cancels and is in substitution for all previous letters of engagement, agreements and arrangements (whether oral or in writing) relating to the subject matter hereof between the Company or any Group Company and you all of which shall be
deemed to have been terminated by mutual consent. 
  

	19.	CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999 

  

	19.1	This Contract does not confer rights on your spouse or dependants or any third party under the Contracts (Rights of Third Parties) Act 1999. Clauses 2, 8, 9, 10, 12,
14, 15 and 18of this agreement do confer rights and shall be enforceable by any Group Company under the Contracts (Rights of Third Parties) Act 1999. Save as expressly stated, no other rights are conferred on any Group Company or to any other third
party. 

  

 11 

	20.	GOVERNING LAW AND JURISDICTION 

  

	20.1	This agreement shall be governed by and interpreted in accordance with the law of England and Wales. 

  

	20.2	The parties to this agreement submit to the exclusive jurisdiction of the English Courts in relation to any claim, dispute or matter arising out of or relating to this
agreement. 

  

	20.3	Any delay by the Company in exercising any of its rights under this agreement will not constitute a waiver of such rights. 

 EXECUTED as a Deed by the parties on the date set out at the beginning of this Contract 
  

			
	SIGNED and delivered as a deed by CLEAR CHANNEL OUTDOOR LIMITED acting by two directors or by one director and the secretary:
		
	 Director
	 	
	Signature	 	: /s/ C.W. Eccleshare
	Name	 	: C.W. Eccleshare
		
	 Director/Secretary
	 	
	Signature	 	: /s/ Justin Cochrane
	Name	 	: Justin Cochrane
	
	 SIGNED by JONATHAN BEVAN /s/ Jonathan Bevan
 in the presence of: 

		
	 Witness
	 	
	Signature	 	: /s/ Simone Nyman
	Name	 	: Simone Nyman
	Occupation	 	: Executive Assistant
	Address	 	 : 33 Golden Square
  
London W1F 9JT

  

 12 

 SCHEDULE 1 
 PART 1 
 CONFIDENTIALITY 
  

	1	You acknowledge that in the ordinary course of your employment you will be exposed to information about the Company’s business and the business of each Group
Company and that of the Company’s and each Group Company’s suppliers and customers which amounts to a trade secret, is confidential or is commercially sensitive and which may not be readily available to others engaged in a similar business
to that of the Company or any Group Company or to the general public and which if disclosed will be liable to cause significant harm to the Company or any such Group Company. Such information (whether recorded in writing, on computer disk or in any
other medium) is referred to as “Confidential Information”. You have therefore agreed to accept the restrictions in this Schedule. 

  

	2	You will not either directly or indirectly during this agreement or after its termination without limit in time for his own purposes or for any purposes other than
those of the Company or any Group Company (for any reason and in any manner) use or divulge or communicate to any person, firm, company or organisation except to those officials of the Company or any Group Company whose province it is to know the
same any secret or Confidential Information or information constituting a trade secret acquired or discovered by you in the course of your employment with the Company relating to the private affairs or business of the Company or any Group Company or
their suppliers, customers, management or shareholders. 

  

	3	The restrictions contained in this clause do not apply to: 

  

	 	a.	any disclosure authorised by the Board or required in the ordinary and proper course of your employment or as required by the order of the court of competent
jurisdiction or an appropriate regulatory authority or otherwise required by law; or 

  

	 	b.	any information, or Confidential Information that you can demonstrate was known to you prior to the commencement of your employment by the Company or by any Group
Company; 

  

	 	c.	a protected disclosure by you, in accordance with the provisions of the Public Interest Disclosure Act 1998. 

  

	4	You will not other than with the approval of your Director make or issue any press, radio or television statement, or publish or submit for publication any letter or
article relating directly or indirectly to the business affairs of the Company or Group Company. 

  

 13 

	5	The provisions set out above are without prejudice to your duties and obligations to be implied into this Contract at common law. 

 PART 2 
 PROTECTIVE COVENANTS 
  

	1	In order to protect the Confidential Information, trade secrets and business connections of the Company and each Group Company, you undertake to the Company on behalf
of itself and as agent and trustee for each Group Company that you will not directly or indirectly and whether alone or in conjunction with or on behalf of any other person and whether as a principal, shareholder, director, employee, agent,
consultant, partner or otherwise: 

  

	 	a.	at any time during the period of 9 months from the Effective Date within the Restricted Territory, take any steps preparatory to or be engaged, employed, interested or
concerned in (i) any business that provides any Competing Business and/or (ii) any Target Business Entity and/or (iii) any firm, company or other entity directly or indirectly owning or controlling either a business that provides any
Competing Business or a Target Business Entity; 

  

	 	b.	at any time during the period of 9 months from the Effective Date within the Restricted Territory, acquire a substantial or controlling interest directly or by or
through any nominee or nominees in any business providing any Competing Business, a Target Business Entity or in any firm, company or other entity owning or controlling a business that provides any Competing Business or a Target Business Entity;

  

	 	c.	at any time during the period of 9 months from the Effective Date solicit or induce or endeavour to solicit or induce any Key Person to leave the employ of the Company
or any Relevant Group Company, whether or not such person would commit any breach of his or her own contract of employment or engagement by leaving the service of the Company or any Relevant Group Company; or 

  

	 	d.	encourage, assist or procure any third party to do anything which, if done by him would be in breach of sub-paragraphs 1a to c of Part 2 of this Schedule 1.

  

	2	 Each of the restrictions in Part 2 of this Schedule 1 is intended to be separate and severable

  

 14 

	 	 
and in the event that any of such restrictions shall be adjudged to be void or ineffective for whatever reason but would be adjudged to be valid and effective if part of the wording or range of
services or products were reduced in scope or deleted, the said restrictions shall apply with such modifications as may be necessary to make them valid and effective. 

  

	3	Since you may also obtain in the course of his employment by reason of services rendered to or offices held in any other Relevant Group Companies knowledge of the trade
secrets or other Confidential Information of such Group Company, you hereby agree that you will at the request and cost of the Company enter into a direct agreement or undertaking with such Group Company whereby you will accept restrictions
corresponding to the restrictions contained in this agreement (or such of them as may be appropriate in the circumstances) in relation to such products and services and such area and for such period as such Group Company may reasonably require for
the protection of its legitimate interest. 

  

	4	If you apply for or are offered a new employment, appointment or engagement, before entering into any related contract, you will bring the terms of this schedule 2 to
the attention of a third party proposing directly or indirectly to employ, appoint or engage you. 

  

	5	For the purposes of this Schedule 1, the following expressions shall have the following meanings: 

  

	 	a.	“Competing Business” shall mean any products or services which are the same as or materially similar to and competitive with any Restricted Business to
include without limitation the businesses of Stroer, JCD, News Outdoor, Titan and CBS; 

  

	 	b.	“Effective Date” means the Termination Date provided always that if no duties have been assigned to you or you have carried out duties other than your normal
duties or have been excluded from the Company’s premises immediately preceding the Termination Date in accordance with clause 8.3, it means the last date on which you carried out your normal duties; 

  

	 	c.	 “Key Person” shall mean any person who on the Effective Date is a director or officer or manager or executive or of the same or similar grade
to you employed or engaged by the Company or any Relevant Group Company or any consultant working for the Company or any Relevant Group Company (or any person who would have been so employed by or working for the Company or any Relevant Group
Company on the Effective Date but for your breach of your obligations under this Agreement and/or

  

 15 

	 	 
implied by law) with whom you worked or had material dealings or for whose work you were responsible or managed in the course of your employment under this agreement at any time during the
Relevant Period; 

  

	 	d.	“Relevant Group Company” shall mean any Group Company (other than the Company) for which you have performed services under this Contract or for which you have
had operational or management responsibility or have provided services at any time during the Relevant Period; 

  

	 	e.	“Relevant Period” shall mean the period of 12 months immediately before the Effective Date; 

  

	 	f.	“Restricted Business” shall mean the business of owning, operating and developing advertising structures both static and moveable, indoor and outdoor
including advertising panels designed to display advertisements and any other products or services provided by the Company or any Relevant Group Company at any time during the Relevant Period with which you had a material involvement during the
course of your employment at any time during the Relevant Period; 

  

	 	g.	“Restricted Territory” shall mean within the United Kingdom and any other country in the world where on the Effective Date the Company or any Relevant Group
Company was engaged in the research into, development, manufacture, distribution, sale or supply or otherwise dealt in any Restricted Business; 

  

	 	h.	Target Business Entity” means any business howsoever constituted (whether or not providing Competing Business) which was at the Effective Date or at any time
during the Relevant Period a business which the Company or any Relevant Group Company had entered into negotiations with, had approached or had identified as (i) a potential target with a view to its acquisition by the Company or any Relevant
Group Company and/or (ii) a potential party to any joint venture with the Company or any Relevant Group Company, in either case where such approach or negotiations or identification were known to a material degree by you during the Relevant
Period. 

  

 16 

 SCHEDULE 2 
 ADDITIONAL REMUNERATION 
 DISCRETIONARY BONUS 
 You may be entitled to a bonus payment for each financial year. The terms of the annual bonus shall be determined by Your Director at its absolute discretion
but will generally be structured to pay out 100% of your base salary upon achieving the financial target defined by Your Director for each financial year 
 Any bonus payment shall not be deemed to part of your salary for pension purposes. Apart from as described in 8.4 of this Agreement the Company is not obliged to pay any bonus payment unless you have been
in employment for the entire financial year during which the bonus payment has accrued. 
  

 17 

 Clear Channel Outdoor: 
 Policy on dealing with public officials 
 Companies that are part of
the Clear Channel Outdoor group are often involved in bidding for contracts, franchises, etc. that are controlled by central and local governments. 
 It is unfortunately the case that there are rare occasions when officials or politicians accept some form of “bribe” (this being a gift of cash, valuable goods or valuable services) in return for giving preference to one bidder
over another. 
 Clear Channel Outdoor has a strict and unambiguous policy that, whilst we are prepared to give substantial value to
municipalities by way of products, services and, where appropriate, cash in respect of rent or revenue share, we will not under any circumstances give money, goods or services to the individual officials or politicians involved in the process
of administering the tender or franchise in order to bias their judgement. 
 In simple terms, this means that if a public official says
something like, “As part of the tender process are you prepared to fund a car for disabled transport?” we may well say “yes”. If the same official asks us to give him or her a car for their own use, we would obviously say
“no”. 
 The policy is simple: whilst it is quite acceptable to provide public officials with normal levels of hospitality such as
buying them lunch, a bottle of wine at Christmas, or inviting them to visit a conference, it is not acceptable to provide them with inducements to favour us over another bidder. 
 In practical terms, this means: 
  

	•	 	 No Clear Channel Business Unit (subsidiary or affiliate company) will ever pay a “bribe” to a public official. 

 

	•	 	 No Clear Channel company or employee will reimburse any third party or agent for paying a “bribe” on its behalf.

  

	•	 	 If an employee of a Clear Channel company pays a “bribe” to a public official, this will be a dismissable offence without compensation.

 If you learn of any action that has been undertaken by an employee or agent of the company which might be construed as
offering or making a “bribe” to a public official, you should send a written report on this to your Director. 
  

 18 

 Please confirm you understand and accept this policy by signing below. 
 I have read and understood this policy and I will ensure it is carried out in my Business Unit. 
  

							
	 /s/ Jonathan Bevan
	 		  	 J. Bevan
	 	 18/11/09

	Signed	 		  	Name (please print)	 	Date
				
	Witnessed by:	 		  		 	
	 /s/ Simone Nyman
	 		  	 Simone Nyman
	 	 18/11/09

	Signed	 		  	Name (please print)	 	Date

  

 19

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