Document:

exv10w2

Exhibit 10.2

WAIVER

In consideration for the benefits I will receive as a result of Home Bancshares, Inc.’s (“HBI”)
participation in the United States Department of the Treasury’s TARP Capital Purchase Program, I
hereby voluntarily waive any claim against the United States or HBI for any changes to my
compensation or benefits that are required to comply with the regulation issued by the Department
of the Treasury as published in the Federal Register on October 20, 2008.

I acknowledge that this regulation may require modification of the compensation, bonus, incentive
and other benefit plans, arrangements, policies and agreements (including so-called “golden
parachute” agreements) that I have with HBI or in which I participate as they relate to the period
the United States holds any equity or debt securities of HBI acquired through the TARP Capital
Purchase Program.

This waiver includes all claims I may have under the laws of the United States or any state
related to the requirements imposed by the aforementioned regulation, including without
limitation a claim for any compensation or other payments I would otherwise receive, any
challenge to the process by which this regulation was adopted and any tort or constitutional
claim about the effect of these regulations on my employment relationship.

	 	 	 
	 

	 	 
[Officer Name]exv10w3

Exhibit 10.3

	 	 	 
	[Officer Name]

	 	[Date]
	[Title]
	 	 
	[Address]
	 	 

Re: Capital Purchase Program

Dear [Officer],

     Home BancShares, Inc. (the “Company”) anticipates entering into a Securities Purchase
Agreement (the “Participation Agreement”), with the United States Department of Treasury
(“Treasury”) that provides for the Company’s participation in the Treasury’s TARP Capital Purchase
Program (the “CPP”). If the Company does not participate or ceases at any time to participate in
the CPP, this letter shall be of no further force and effect.

     For the Company to participate in the CPP and as a condition to the closing of the investment
contemplated by the Participation Agreement, the Company is required to establish specified
standards for incentive compensation to its senior executive officers and to make changes to its
compensation arrangements. To comply with these requirements, and in consideration of the benefits
that you will receive as a result of the Company’s participation in the CPP, you agree as follows:

	 	1.	 	No Golden Parachute Payments. The Company is prohibiting any golden parachute
payment to you during any “CPP Covered Period”. A “CPP Covered Period” is any period
during which (A) you are a senior executive officer and (B) Treasury holds an equity or
debt position acquired from the Company in the CPP.

	 	2.	 	Recovery of Bonus and Incentive Compensation. Any bonus and incentive
compensation paid to you during a CPP Covered Period is subject to recovery or
“clawback” by the Company if the payments were based on materially inaccurate financial
statements or any other materially inaccurate performance metric criteria.

	 	3.	 	Compensation Program Amendments. Each of the Company’s compensation, bonus,
incentive and other benefit plans, arrangements and agreements (including golden
parachute, severance and employment agreements) (collectively, “Benefit Plans”) with
respect to you is hereby amended to the extent necessary to give effect to provisions
(1) and (2). For reference, certain affected Benefit Plans are set forth in Appendix A
to this letter.

In addition, the Company is required to review its Benefit Plans to ensure that they
do not encourage senior executive officers to take unnecessary and excessive risks
that threaten the value of the Company. To the extent any such review requires
revisions to any Benefit Plan with respect to you, you and the Company agree to
negotiate such changes promptly and in good faith.

	 	4.	 	Definitions and Interpretation. This letter shall be interpreted as follows

	 	•	 	“Senior executive officer” means the Company’s “senior executive
officers” as defined in subsection 111(b)(3) of EESA.

	 	•	 	“Golden parachute payment” is used with same meaning as in Section
111(b)(2)(C) of EESA.

	 	•	 	“EESA” means the Emergency Economic Stabilization Act of 2008 as
implemented by guidance or regulation issued by the Department of the
Treasury and as published in the Federal Register on October 20, 2008.

 

 

	 	•	 	The term “Company” includes any entities treated as a single employer
with the Company under 31 C.F.R. § 30.1(b) (as in effect on the Closing
Date). You are also delivering a waiver pursuant to the Participation
Agreement, and, as between the Company and you, the term “employer” in
that waiver will be deemed to mean the Company as used in this letter.

	 	•	 	The term “CPP Covered Period” shall be limited by, and interpreted in
a manner consisten with, 31 C.F.R. § 30.11 (as in effect on the Closing
Date).

	 	•	 	Provisions (1) and (2) of this letter are intended to, and will be
interpreted, administered and construed to, comply with Section 111 of
EESA (and, to the maximum extent consistent with the preceding, to permit
operation of the Benefit Plans in accordance with their terms before
giving effect to this letter).

	 	5.	 	Miscellaneous. To the extent not subject to federal law, this letter will be
governed by and construed in accordance with the laws of [Insert Jurisdiction]. This
letter may be executed in two or more counterparts, each of which will be deemed to be
an original. A signature transmitted by facsimile will be deemed an original signature.

     The Board appreciates the concessions you are making and looks forward to your continued
leadership during these financially turbulent times.

	 	 	 	 	 
	 	Yours sincerely,

Home BancShares, Inc.

 	 
	 	By:  	 	 
	 	 	Name
Title	 
	 

	 
	Intending to be legally bound, I
agree with and accept the foregoing
terms on the date set forth below

	 

	 

	 
	 
[Officer Name]

	 	 	 
	Date:exv10w1

Exhibit 10.1

CLEAR CHANNEL COMMUNICATIONS, INC.

200 East Basse Road

San Antonio, TX 78209

January 20, 2009

Mr. Mark P. Mays

200 East Basse Road

San Antonio, TX 78209

Re:    Amendment to Amended and Restated Employment Agreement

Dear Mr. Mays:

This letter memorializes the terms of the agreement (“Amendment”) we have reached to amend the
terms of your Amended and Restated Employment Agreement (“Employment Agreement”) with Clear Channel
Communications, Inc. (the “Company”), as successor to BT Triple Crown Merger Co., Inc. and CC Media
Holdings, Inc. (“Holdings”), effective July 28, 2008. The parties have agreed as follows:

1. Section 5(a) of the Employment Agreement is hereby amended to read in its entirety as follows:

(a) Base Salary and Bonus. During the Employment Period, the Company shall
pay Executive a base salary at a rate of not less than $500,000 for calendar year 2009
and, thereafter, not less than $1,000,000 per year (“Base Salary”). Executive’s Base
Salary shall be paid in approximately equal installments in accordance with the
Company’s customary payroll practices. The Compensation Committee of the Board of
Holdings (the “Compensation Committee”) shall review Executive’s Base Salary for
increase (but not decrease) no less frequently than annually and consistent with the
executive compensation practices and guidelines of the Company and Holdings. If
Executive’s Base Salary is increased by the Company, such increased Base Salary shall
then constitute the Base Salary for all purposes of this Agreement. In addition to
Base Salary, Executive shall be eligible to receive an annual bonus (the “Performance
Bonus”). Unless the Board of Holdings and Executive mutually agree otherwise, the
amount of the Performance Bonus for each year during the Employment Period subsequent
to 2008 shall be calculated in accordance with the schedule set forth below.

 

 

The Target EBITDA for 2009 and thereafter shall be determined by the Compensation
Committee in consultation with management of the Company.

The Target EBITDA for a particular year shall be determined for each year within
thirty (30) days following approval of the Company’s budget for such year by the Board
of Holdings.

EBITDA, for all purposes of this Agreement, shall be defined as, and shall use the
same calculations and methodologies used for determining Consolidated EBITDA as
defined by the Credit Agreement among Clear Channel Capital I, LLC, as successor to BT
Triple Crown Merger Co., Inc., and Clear Channel Communications, Inc., the Subsidiary
Co-Borrowers (as defined by the Credit Agreement), the Foreign Subsidiary Revolving
Borrowers (as defined by the Credit Agreement), from time to time a party thereto,
Citibank, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and each
lender from time to time party thereto dated May 13, 2008 (the “Credit Agreement”), as
amended from time to time, except that for purposes of this Amendment, unless
otherwise approved by the Compensation Committee and the Board of Holdings, Achieved
EBITDA will (i) exclude EBITDA generated from joint venture entities formed after the
date hereof to the extent not included in the calculation of Target EBITDA and (ii)
include EBITDA that is excluded from Consolidated EBITDA by reason of being generated
from discontinued operations. Achieved EBITDA will also be adjusted to take into
account any acquisitions or divestitures made during the applicable year, such that
Target EBITDA and Achieved EBITDA include the same businesses, assets or operations
for the same period, as reasonably determined by the Compensation Committee and the
Board of Holdings. The parties intend that Achieved EBITDA be calculated for a
particular year in a manner consistent with the assumptions used to develop Target
EBITDA for such year and with the full benefit of strategic and operational
improvements above and beyond the plan used in developing Target EBITDA, as determined
by the Compensation Committee in its reasonable discretion.

At the end of each year, the EBITDA attained shall be calculated by the Chief
Accounting Officer of the Company (the “Achieved EBITDA”), subject to the approval of
the Compensation Committee.

The Performance Bonus for any year in the Employment Period subsequent to 2008 shall
be paid in accordance with the following schedule:

	 	 	 
	Achieved EBITDA/Target EBITDA	 	 
	(expressed as a percentage)	 	Performance Bonus
	90% or less
	 	$0
	100%
	 	$2,000,000
	110%
	 	$3,000,000
	120% or more
	 	$4,000,000

2

 

If the Achieved EBITDA is between 90% and 100% of Target EBITDA, the Performance Bonus
shall be an amount between $0 and $2,000,000, pro rata based on the percent of Target
EBITDA actually achieved. If the Achieved EBITDA is between 100% and 110% of Target
EBITDA, the Performance Bonus shall be an amount between $2,000,000 and $3,000,000,
pro rata based on the percent of Target EBITDA actually achieved. If the Achieved
EBITDA is between 110% and 120% of Target EBITDA, the Performance Bonus shall be an
amount between $3,000,000 and $4,000,000, pro rata based on the percent of Target
EBITDA actually achieved.

The Performance Bonus, if any, shall be payable in a single lump sum between January 1
and March 15 of the year following the year for which the Performance Bonus was
earned.

     2. Section 6(c)(ii) of the Employment Agreement is hereby amended by inserting the phrase
“dated as of July 29, 2008 by and among Mergersub, Holdings, Executive and other stockholders of
Holdings after the phrase “as defined in the Stockholders Agreement”.

     3. Section 8(a)(i) and 8(a)(ii) of the Employment Agreement are hereby amended by inserting
the phrase “as defined by Section 5(a) as modified in accordance with the terms of the Amendment to
the Employment Agreement except that Base Salary for purposes of this section shall never be less
than $1,000,000” after “Base Salary” in each place where the term “Base Salary” appears.

     4, All provisions of the Employment Agreement, other than Section 5(a), 6(c)(ii), 8(a)(i) and
8(a)(ii) (which shall be modified in accordance with the terms hereof), shall remain in full force
and effect.

     5. This letter agreement contains the entire agreement of the parties concerning the subject
matter hereof. Neither this Amendment, nor the Employment Agreement it amends, may be modified or
waived in any manner other than by an authorized writing of the parties.

[The remainder of this page is left intentionally blank.]

3

 

If the foregoing is in accordance with your understanding of our agreement, kindly counter-sign in
the space below.

	 	 	 	 	 
	 	Sincerely,

CC Media Holdings, Inc.

 	 
	 	By:  	/s/ Andrew Levin
 	 
	 	 	Name:  	Andrew Levin 	 
	 	 	Title:  	Executive Vice President, Chief

Legal Officer and Secretary 	 
	 
	 	Clear Channel Communications, Inc.

 	 
	 	By:  	/s/ Andrew Levin
 	 
	 	 	Name:  	Andrew Levin 	 
	 	 	Title:  	Executive Vice President, Chief

Legal Officer and Secretary 	 
	 

ACCEPTED AND AGREED TO:

	 	 	 
	/s/ Mark P. Mays
 

Mark P. Mays

	 	 

Date: January 20, 2009

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}]]