Document:

EX-10.1

EMPLOYMENT AGREEMENT

EMPLOYMENT AGREEMENT, made as of February 1, 2010, between CKX, Inc., a Delaware corporation
(the “Employer”), and Howard J. Tytel (the “Executive”).

WHEREAS, the Employer and the Executive entered into that certain Employment Agreement, dated
as of February 8, 2005 and as amended and restated on January 1, 2009, between the Employer and the
Executive, which agreement expired on February 7, 2010; and

WHEREAS, the Board of Directors of the Employer (the “Board”) has determined that it
is in the Employer’s interest to enter into this new Employment Agreement with the Executive in
order to secure, and in the future to be assured of, the Executive’s abilities, services, and
judgment as a member of senior management of the Employer, upon the terms and provisions and
subject to the conditions stated in this agreement.

NOW, THEREFORE, the Employer and the Executive agree as follows:

1 Employment.  Upon the terms and subject to the conditions of this agreement, the
Employer employs the Executive, and the Executive accepts employment.

2 Term; Dates.  The term of the Executive’s employment shall commence on February 1,
2010 and continue until third annual anniversary thereof (the “Employment Agreement Term”),
unless earlier terminated or renewed in accordance with this agreement.

2.1 This agreement refers to the dates defined in this section, as follows: (i) the date of
commencement of employment pursuant to this agreement is the “Effective Date”; (ii) the
period of time during which the Executive is an employee of the Employer pursuant to and in
accordance with the terms and provisions of this agreement is hereinafter referred to as the
“Term”; and (iii) the last date of employment is the “Expiration Date.”

3 Executive’s Position, Duties, and Authority.  

3.1 The Employer shall employ the Executive, and the Executive shall serve as Senior Executive
Vice President and Director of Legal and Governmental Affairs of the Employer, and in such other
positions with the Employer and its subsidiaries that are reasonably acceptable to the Executive.
The Executive shall have executive duties, functions, authority, and responsibilities commensurate
with the office or offices he from time to time holds with the Employer in a corporation that is
public, subject, in accordance with applicable law, to the supervision and direction of the Board.

3.2 The Executive agrees to tailor his conduct with the written employment policies which the
Employer generally applies to all of its employees, and additionally agrees that the Employer may
make necessary and reasonable amendments to its policies from time to time during the Term, to the
extent not inconsistent with the terms of this agreement. The Executive and the Employer agree that
these policies supplement, but do not amend or otherwise modify, the express terms of this
agreement in the manner authorized by Section 17.5 of this agreement.

4 Principal Occupation.    The Executive shall devote his working time to the business
and affairs of the Employer and to the fulfillment of his duties under this agreement in a diligent
and competent fashion, consistent with industry standards.

4.1 The Employer acknowledges and agrees that during the Term:

(a) the Executive may wish to continue, or commence, service as a director and
officer (or in a similar capacity) on the governing body of other business entities
whose business is not competitive with that of the Employer or any of its
subsidiaries; and

(b) the Executive agrees that his service as described in Section 4.1(a) shall
be subject to the approval of the Employer’s Board, so long as the Board’s
discretion is not applied unreasonably.

Where the Board declines to approve the commencement of the Executive’s service or his
continued service, or the Board withdraws its approval for the continuation of the Executive’s
service as described in Section 4.1(a), the Executive agrees that he will resign from such
position, or withdraw himself from consideration. The Executive and Employer agree that nothing in
this Section 4.1 applies to the Executive’s membership or contribution of his non-working time or
services, in a non-remunerative capacity, to any: charitable or educational organization,
foundation, or association; political organization or campaign; religious group, foundation, or
organization; or non-profit trade, professional, community, or recreational organization or club,
so long as the purpose or aim of any such organization presents no conflict with the business of
the Employer, as determined by the Board.

4.2 The Employer acknowledges and agrees that during the Term, the Executive may devote a
portion of his business time to personal investments and outside business commitments, provided,
however that: (a) such activities do not conflict with the business of Employer, (b) such
activities do not interfere, directly or indirectly, with the performance by the Executive of his
obligations under this agreement, and (c) such activities do not result in a breach by the Employer
of any non-competition or any other similar type of agreement to which the Employer, or its
officers or directors, may be a party.

4.3 No provision of this agreement shall be construed to prohibit the Executive’s:
(a) acquisition, ownership, or trading, including without limitation the Executive’s indirect
ownership, of less than five percent (5%) of the issued and outstanding stock (or comparable bonds,
options, derivatives, or negotiable instruments) of a business entity having securities publicly
traded anywhere in the world; or (b) passive ownership of stock, partnership interests, or
comparable ownership interests or securities in any for-profit private business entity that is not
directly competitive with the business of the Employer or any of its subsidiaries. The Employer
additionally agrees that nothing in this agreement shall operate to prohibit the Executive’s
acceptance of a testamentary gift, bequest, or its equivalent, nor the Executive’s retention of any
such gift, bequest, or its equivalent following its delivery, so long as the Executive retains the
interest(s) solely for investment purposes.

5 Location of Employment.5.1   Unless the Executive otherwise consents in writing, the
usual place for the performance of his services shall be the Employer’s principal office located in
the Borough of Manhattan, New York, New York, or such other location within Manhattan or Nassau
County, New York, as established by the Employer.

6 Base Salary.  During the Term, the Employer shall pay or cause to be paid to the
Executive an initial annualized base salary, payable in equal installments during each year of the
Term equal to $850,000, provided that the Board shall review the Executive’s base salary at least
annually and the Board may increase, but not decrease, the base salary (such annual base salary, as
it may be increased from time to time, the “Base Salary”).

7 Bonus and Equity Grants.

7.1 During each year of the Term, the Executive shall be eligible to participate in the
executive incentive bonus plan adopted by the Compensation Committee of the Board (the
“Compensation Committee”) for such year, and shall be eligible to receive an annual cash
bonus under such plan (any such cash bonus an “Annual Cash Bonus”), provided that the
Executive’s annual target cash bonus under any such plan shall not be less than $450,000 (the
“Target Bonus”).

7.2 The Executive shall be eligible to receive an annual grant of restricted stock, stock
options or other equity award as determined by the Compensation Committee (any such equity award an
“Equity Grant”). The determination whether to award an Equity Grant and the form and amount
of any such Equity Grant shall be at the discretion of the Compensation Committee.

8 Expenses.8.1   The Employer shall reimburse the Executive for all reasonable
expenses actually incurred or paid by the Executive during the Term in the performance of the
Executive’s services. The Employer shall make reimbursement within a reasonable time following the
Executive’s presentation of expense statements, vouchers, receipts, or such other supporting
information as the Employer reasonably may require from the Executive. The Executive acknowledges
that the Employer’s policies regarding the documentation of expenses for which reimbursement is
sought may change from time to time, and the Executive agrees that he will comply with the
Employer’s reasonable documentation requirements; provided that each and every
reimbursement due hereunder shall be requested and paid not later than six months after being
incurred.

9 Benefits.

9.1 The Executive shall be eligible to accrue the equivalent of six (6) weeks vacation during
each full year of the Term. The Employer will credit the Executive for his full annual accrual at
the commencement of each full year of the Term, i.e. not on a proportional basis during the course
of each year of the Term. The Executive additionally shall be entitled to remain away from work for
as many or as few days as required by the Executive due to the Executive’s bona fide illness,
subject to the provisions of Section 13 of this agreement. The Executive may observe any legal
holidays, other holidays recognized by the Employer, and religious holidays that the Executive
deems appropriate, in the sound exercise of his business judgment.

9.2 During the Term, the Executive shall be eligible to participate in any pension, profit
sharing, incentive stock option, stock purchase, stock grant program or plan, and retirement
savings program or plan established by the Employer or any of its subsidiaries for which the
Executive provides services hereunder (“Participating Subsidiaries”), including, without
limitation, any such program or plan offered by the Employer or Participating Subsidiaries to its
executive or non-executive employees. The Executive additionally shall be eligible to participate
in any group life insurance, hospitalization, medical, health and accident, dental, disability, or
similar plan or program made available by the Employer or Participating Subsidiaries to its
executive or non-executive employees. The Executive acknowledges that his participation in any
benefit plan described in this Section 9.2 may require, where required from other senior executives
of the Employer or Participating Subsidiaries, the Executive’s co-payment of a periodic premium as
a deduction from the Base Salary payable to him. The Executive additionally acknowledges that the
Executive’s actual ability to participate in any program, plan, or other benefit opportunity in
which the Executive otherwise is eligible to participate ultimately may be determined and governed
by the terms and conditions of a third-party provider’s plan or program, and the Executive affirms
that any third-party’s decision denying the Executive’s participation in a particular program or
plan, the provision of coverage or a benefit in respect of a particular circumstance or expense, or
a comparable decision adversely affecting the Executive shall not constitute a breach of this
agreement by the Employer, so long as the Employer does not offer, designate, or select a program
or plan with the actual intention of excluding the Executive’s eligibility or participation in the
opportunity.

9.3 The Executive acknowledges that the Employer may, as it deems appropriate, seek, obtain,
and maintain during all or part of the Term insurance connected with the life of the Executive, and
for the benefit of the Employer. In the event that the Employer elects to do so, the Executive
agrees: to provide any medical information required by the insurer issuing such coverage; to submit
no more frequently than semi-annually to any medical examination required by the insurer in
connection with the granting or renewal of such coverage; and to otherwise cooperate reasonably
with the Employer’s attempts to obtain such coverage. Any insurer’s rejection of an application
submitted by the Employer connected with this Section 9.3 in no event shall constitute a breach of
this agreement by the Executive, and the Employer shall not request nor in another manner seek any
information from the Executive, the insurer, or any other person(s) connected with the rejection.

9.4 The Employer agrees that in the event of the Executive’s death during the Term, the
Employer shall cause any stock options, restricted stock or other equity-based instruments that
previously were issued to the Executive to vest fully and shall take all action necessary to cause
the assignment or transfer of such options, securities or other instruments as directed by the
Executive’s will or testamentary plan, or as directed by any duly appointed administrator or
executor of the Executive’s estate.

10 Indemnification.  The Employer shall indemnify the Executive against all losses,
claims, expenses, or other liabilities of any nature arising by reason of the fact that he: (a) is
or was a director, officer, employee, or agent of the Employer or any of its subsidiaries or
affiliates; or (b) while a director, officer, employee or agent of the Employer or any of its
subsidiaries or affiliates, is or was serving at the request of the Employer as a director,
officer, partner, venturer, proprietor, trustee, employee, agent or similar functionary of another
corporation, partnership, joint venture, trust, employee benefit plan or other entity, in each case
to the fullest extent permitted under the Delaware General Corporation Law, as the same exists or
may hereafter be amended. Without limiting the generality of the foregoing, the Executive shall be
entitled in connection with his employment and in connection with his services as an officer and
director of the Employer to the benefit of the provisions relating to indemnification and
advancement of defense costs and expenses contained in the bylaws and certificate of incorporation
of the Employer, as the same in the future may be amended (not including any amendments or
additions that limit or narrow, but including any that add to or broaden, the protection afforded
to the Executive), to the fullest extent permitted by applicable law. The Employer shall advance to
the Executive all costs of investigation or defense incurred by the Executive in connection with
any pending or threatened claim for which the Executive may be entitled to indemnification
hereunder, provided that the Executive shall agree to return to the Employer any such reimbursed
amounts, without interest, if it is determined in a final, non-appealable judgment by a Court of
competent jurisdiction that the Executive is not entitled to indemnification by the Employer for
losses incurred in connection with such claim. The indemnification obligations of the Employer
shall survive from the Effective Date of this agreement and continue until three (3) months after
the expiration of any applicable statute of limitations with respect to any claim made against the
Executive for which the Executive is or may be entitled to indemnification (the “Survival
Period”), and shall survive after the Survival Period with respect to any indemnification claim
as to which the Employer has received notice on or prior to the end of the Survival Period. The
Employer’s belief regarding a statute of limitations applicable to a claim, any position taken by
the Employer in response to a claim, or the determination of any judicial, quasi-judicial, or
arbitral body in connection with a claim and any statute of limitations applicable to a claim(s)
shall in no event relieve the Employer from its obligation to indemnify the Executive. The Employer
shall prepay in full, and maintain fully during the Survival Period for the benefit of the
Executive, on an “occurrence” basis, a directors and officers errors and omissions insurance
policy, or a similar insurance policy(ies), providing coverage from a financially reputable
carrier. Anything in this agreement to the contrary notwithstanding, this Section 10 shall survive
the termination of this agreement for any reason.

11 Confidential Information.    The Executive acknowledges that his employment will
fully familiarize the Executive with the trade secrets and confidential and proprietary information
of the Employer (the “Confidential Information”). Examples of the Employer’s Confidential
Information include, without limitation, information regarding the Employer’s costs, profits,
markets, sales, products, key personnel, operational methods, technical processes, business
strategies, and other information which the Employer engages in efforts to protect from disclosure
or discovery by its competitors, actual and prospective clients, and other third parties. The
Executive further acknowledges that the unintentional or intentional disclosure of the Employer’s
Confidential Information would have a material adverse effect on the operations and development of
the Employer’s business. The Executive therefore covenants and agrees as set forth below:

11.1 The Executive will during the Term and at all times thereafter, keep secret all
Confidential Information, and will not intentionally disclose Confidential Information to anyone
outside of the Employer and its subsidiaries and affiliates and their respective advisors,
directors, officers, employees, agents, consultants, financing sources and other representatives,
other than in connection with the Executive’s performance of his duties under this agreement except
with the Employer’s consent, provided that: (i) the Executive shall have no such obligation to the
extent Confidential Information is or becomes publicly known, other than as a result of the
Executive’s breach of his obligations hereunder; and (ii) the Executive may, after giving prior
notice to the Employer to the extent practicable under the circumstances, disclose such matters to
the extent required by applicable laws or governmental regulations or judicial or regulatory
process; provided, however, that if the Executive is required (by oral questions, interrogatories,
requests for information or documents, subpoena, civil investigative demand or similar process) to
disclose any Confidential Information pursuant to the foregoing clause (ii), he agrees to use
reasonable efforts to provide the Employer with prompt notice of each such request so that the
Employer may seek an appropriate protective order or waive compliance by the Executive with the
provisions of this agreement or both; provided, further, that if, absent the entry of a protective
order or the receipt of a waiver under this agreement, the Executive is, in the opinion of his
counsel, legally compelled to disclose such Confidential Information under pain of liability for
contempt or other censure or penalty (civil or criminal), the Executive may disclose such
information to the persons and to the extent required without liability under this agreement. In
such event, the Executive shall give the Employer written notice of such disclosure, in reasonable
detail, as soon as possible, but in any event not later than concurrently with making such
disclosure, and the Executive shall exercise his reasonable commercial efforts to obtain reliable
assurances that confidential treatment will be accorded any such Confidential Information so
disclosed.

11.2 The Executive will deliver promptly to the Employer at the termination of his employment
by the Employer, or at any other time the Employer may so request, all memoranda, notes, records,
reports, and other documents (including, without limitation, drafts, whole or partial copies, and
information stored or maintained electronically, magnetically, in a computer, or through any other
medium invented in the future) relating to the Employer’s business, which he obtained while
employed by, or otherwise serving or acting on behalf of, the Employer and which he may then
possess or have under his control.

11.3 The Executive’s duties may require that he enter into confidentiality agreements,
nondisclosure agreements, or comparable agreements with third parties, and a third party may
require the Executive’s entry into such an agreement(s) personally and on behalf of the Employer.
In any such event, the Executive agrees to engage in reasonable efforts to perform any such
agreement.

11.4 During the Term, the Employer may adopt or implement additional Confidential Information
policies, procedures, or requirements in connection with the Employer’s business, and any such
policies, procedures, or requirements will supplement this Section 11, without additional
consideration from the Employer to the Executive, except to the extent, if any, that they conflict
with this agreement, in which event this agreement shall control and govern.

12 Termination.  The following definitions shall apply to the use of such terms in
this agreement:

12.1 “Cause” means:

(a) the Executive engages in any intentional act of fraud against Employer;

(b) the Executive engages in willful malfeasance or gross negligence in his
performance of this Agreement or his capacity as an employee of the Company;

(c) the Executive’s refusal to perform the duties required or requested of him
consistent with his obligations under this agreement;

(d) the Executive’s conviction of a felony or entering a plea of nolo contendre
to a felony charge;

(e) a willful violation by the Executive of the written policies of Employer;

(f) a willful unauthorized disclosure by the Executive of trade secrets or
other confidential information of the Employer;

(g) a willful failure by the Executive to cooperate with a bona fide internal
investigation or any investigation of the Employer or an employee thereof by any
governmental or regulatory authority;

(h) a willful failure to preserve, or intentional destruction of, documents or
other materials known to be relevant to a bona fide internal investigation or any
investigation of the Employer or an employee thereof by any governmental or
regulatory authority; or

(i) willful inducement by the Executive of others to fail to cooperate in any
bona fide internal investigation or any investigation of the Employer or an employee
thereof by any governmental or regulatory authority.

For purposes of this Section 12.1, no act, or failure to act, by the Executive shall be
“willful” unless committed without a reasonable belief that the act or omission was in the best
interest of the Employer.

12.2 “Change in Control” means the occurrence, in a single transaction or in a series
of related transactions, of any one or more of the following events:

(a) any “person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (an
“Exchange Act Person”) (other than Robert F.X. Sillerman or a Related Party
(as defined below)) becomes the “beneficial owner” (as defined in Rule 13d-3 of the
Exchange Act), directly or indirectly, of securities of the Company representing
more than fifty percent (50%) of the combined voting power of the Company’s then
outstanding securities other than by virtue of a merger, consolidation or similar
transaction, provided that, notwithstanding the foregoing, a Change in Control shall
not be deemed to occur solely because the level of ownership held by any Exchange
Act Person (the “Subject Person”) exceeds the designated percentage
threshold of the outstanding voting securities as a result of a repurchase or other
acquisition of voting securities by the Company reducing the number of shares
outstanding, provided further that if a Change in Control would occur (but for the
operation of this proviso) as a result of the acquisition of voting securities by
the Company, and after such share acquisition, the Subject Person becomes the owner
of any additional voting securities that, assuming the repurchase or other
acquisition had not occurred, increases the percentage of the then outstanding
voting securities owned by the Subject Person over the designated percentage
threshold, then a Change in Control shall be deemed to occur;

(b) there is consummated a merger, consolidation or similar transaction
involving (directly or indirectly) the Company if, immediately after the
consummation of such merger, consolidation or similar transaction, the stockholders
of the Company immediately prior thereto do not own, directly or indirectly, either
(A) outstanding voting securities representing more than fifty percent (50%) of the
combined outstanding voting power of the surviving entity in such merger,
consolidation or similar transaction or (B) more than fifty percent (50%) of the
combined outstanding voting power of the parent of the surviving entity in such
merger, consolidation or similar transaction;

(c) there is consummated a sale, lease, license or other disposition of all or
substantially all of the consolidated assets of the Company and its subsidiaries,
other than a sale, lease, license or other disposition of all or substantially all
of the consolidated assets of the Company and its subsidiaries to an entity, more
than fifty percent (50%) of the combined voting power of the voting securities of
which are owned by stockholders of the Company in substantially the same proportion
as their ownership of the Company immediately prior to such sale, lease, license or
other disposition; or

(d) during any period of 12 consecutive months, individuals who at the
beginning of such period constitute the Board cease for any reason to constitute at
least a majority thereof unless the election, or the nomination for election by
stockholders, of each new director was approved by a vote of at least a majority of
the directors then still in office who were directors at the beginning of the
period.

For the purposes of this Section 12.2 “Related Party” means (x) any spouse
or immediate family member of Robert F.X. Sillerman, (y) any trust, corporation,
partnership or other entity, the beneficiaries, stockholders, partners, owners or
persons beneficially holding a fifty-one percent (51%) or more controlling interest
of which consist of Robert F.X. Sillerman and/or such other persons referred to in
the immediately preceding clause (x) or (z) the trustees of any trust referred to in
the immediately preceding clause (y).

12.3 “Constructive Termination without Cause” means the termination of the Executive’s
employment at his initiative after, without the Executive’s prior written consent, one or more of
the following events:

(a) the failure to elect the Executive to any of the positions described in
Section 3; any material diminution or adverse change in the duties, authority,
responsibilities, or positions of the Executive; or the removal of the Executive
from any executive management position in a manner contrary to this agreement or the
Employer’s then effective certificate of incorporation or by-laws;

(b) the assignment to the Executive of duties or responsibilities which result
in material and permanent adverse change in Executive’s reporting relationship to
other executive positions within Employer; or

(c) a reduction in the Base Salary or Target Bonus.

(d) The Executive agrees that each of the following must occur before the
Executive may assert the existence of a Constructive Termination without Cause:
(i) the Executive must provide written notice to the Board or the Chairman of the
Board, within a period not to exceed ten (10) days, with reasonable specification of
the matter(s) giving rise to the notice; (ii) the Employer must have the
opportunity, through the Chairman or a Board member designated by him, to respond in
writing to the written notice, with the assistance of any counsel deemed appropriate
by the Employer (at its expense) not sooner than ten (10) business days after
delivery of the written notice; (iii)  upon delivery of the written notice referred
to in clause (i) of this paragraph, the Employer shall have a period of thirty (30)
days within which to cure any deficiency that would result in Constructive
Termination without Cause; and (iv) if the Employer fails to cure a deficiency
within such thirty (30) day period, the Executive must actually terminate employment
within fifteen (15) days of the Employer’s failure to cure such deficiency. The
Board must have the opportunity, acting collectively or through a designee, to
investigate, inquire, and otherwise inform itself of the assertion, followed by a
hearing before the Board during which the Executive is allowed the opportunity to
orally present his position during a confidential meeting of the entire Board, and
the Employer is allowed to respond, within ten (10) business days after the Employer
delivers to the Executive its written response to the Executive’s written notice.

12.4 Termination by the Employer for Cause.    If the Employer terminates this
agreement for Cause, the Executive shall be paid, as soon as practicable but no later than two and
one-half months following such termination, all earned but unpaid Base Salary through the date of
termination. In the event the Employer terminates the Executive’s employment for Cause, the
Executive shall have no further obligation or liability to the Employer in connection with his
performance of this agreement (except the continuing obligations specified in Section 11).

12.5 Termination without Cause or Constructive Termination without Cause.    In the
event the Employer terminates Executive’s employment without Cause, other than due to disability or
death, or in the event there is a Constructive Termination without Cause (in each case other than a
Change in Control Termination as set forth in Section 12.6), the Executive shall be entitled to:

(a) be paid by the Employer the Base Salary in effect on the date of
termination (or in the event a Base Salary reduction is the basis for a Constructive
Termination without Cause, the Base Salary in effect immediately prior to such a
reduction) through the date of termination, with payment made as soon as practicable
but no later than two and one-half months following such termination date;

(b) a lump sum, to be paid by the Employer as soon as practicable but not later
than two and one-half months following such termination date, equal to the Base
Salary in effect on the date of termination (or in the event a Base Salary reduction
is the basis for a Constructive Termination without Cause, the Base Salary in effect
immediately prior to such a reduction) for two (2) years following such termination
(the “Post Termination Salary Payment”), provided that from and after
February 1, 2011, the Post Termination Salary Payment shall be reduced by
1/24th of the total such payment for each full month that Executive has
been employed pursuant to this agreement after February 1, 2011 and prior to such
termination, provided however that in no event shall the Post Termination Salary
Payment equal less than the annual Base Salary in effect on the date of such
termination or salary reduction.

(c) all benefits provided in Sections 8 and 9 (except that if providing any
such benefit under the terms of a plan would cause an adverse tax effect, the
Employer may provide the Executive with equivalent cash payments outside of the plan
at the same time the benefits would otherwise have been taxable to the Executive)
for a period of two (2) years following such termination (the “Post Termination
Benefit Period”), with no additional cost or charge payable by the Executive,
provided that from and after February 1, 2011, the Post Termination Benefit Period
shall be reduced by one month for each full month that Executive has been employed
pursuant to this agreement after February 1, 2011 and prior to such termination,
provided however that in no event shall the Post Termination Benefit Period be less
than one (1) year.

(d) Notwithstanding the foregoing, if at the time of Executive’s Separation
from Service (as defined in Treasury Regulation 1.409A-1(h)) the Executive is a
“specified employee” within the meaning of Code Section 409A(a)(2)(B)(i), any amount
or benefits that constitutes “nonqualified deferred compensation” within the meaning
of Code Section 409A that becomes payable to Executive on account of the Executive’s
Separation from Service will not be paid until after the earlier of (i) first
business day of the seventh month following Executive’s Separation from Service, or
(ii) the date of the Executive’s death (the “409A Suspension Period”).
Within fourteen (14) calendar days after the end of the 409A Suspension Period, the
Executive shall be paid a cash lump sum payment equal to any payments (including
interest on any such payments), and benefits that the Employer would otherwise have
been required to provide under this Section 12.5 or Section 12.6 but for the
imposition of the 409A Suspension Period delayed because of the preceding sentence.
Thereafter, the Executive shall receive any remaining payments and benefits due
under this agreement in accordance with the terms of this Section (as if there had
not been any Suspension Period beforehand).

12.6 Termination Following a Change in Control. If, within 12 months following a
Change in Control, the Employer terminates Executive’s employment without Cause, other than due to
disability or death, or there is a Constructive Termination without Cause (a “Change in Control
Termination”), the Executive shall be entitled to be paid by the Employer, as soon as
practicable but no later than two and one-half months following the date of termination:

(a) the Base Salary in effect on the date of termination (or in the event a
Base Salary reduction is the basis for a Constructive Termination without Cause, the
Base Salary in effect immediately prior to such a reduction) through the date of
termination, plus

(b) the greater of (i) the amount specified under Section 12.5(b) above, or
(ii) a lump sum equal to (x) the Base Salary in effect on the date of termination
(or in the event a Base Salary reduction is the basis for a Constructive Termination
without Cause, the Base Salary in effect immediately prior to such a reduction) for
one (1) year following such termination, plus (y) a lump sum equal to the amount of
the target Annual Cash Bonus specified for the year in which such termination occurs
in any executive incentive bonus plan adopted by the Compensation Committee, or if
no such plan has been adopted, the amount of the Target Bonus.

The Executive shall also be entitled to the rights specified in Section 12.5(c) for the period set
forth in such section.

12.7 Voluntary Termination.    In the event of the termination of this agreement at
the conclusion of the Employment Agreement Term, or by the Executive on his own initiative other
than: (a) a termination due to death or disability; (b) a Constructive Termination without Cause;
or (c) a Change in Control Termination, the Executive shall have the same entitlements as provided
in Section 12.4 for a termination for Cause. A voluntary termination of employment by the Executive
shall be effective upon reasonable written notice to the Employer. Written notice need not be
provided in the event of a termination due to death or disability.

12.8 No Mitigation or Offset.    At any termination of the Executive’s employment, the
Executive shall have no obligation to seek other employment. There shall be no offset against
amounts due the Executive under this agreement on account of any remuneration attributable to any
later employment, consultancy, partnership, or other remunerative activity connected with the
Executive. However, the Employer may offset (at any time before the date that is two and one-half
months after the end of the calendar year in which the Executive’s employment terminates) any
amounts owed by the Executive to the Employer or any of its subsidiaries or affiliates against
amounts due to the Executive under this agreement.

13 Disability.

13.1 If during the Executive’s active employment the Executive becomes physically or mentally
disabled, whether totally or partially, so that he is prevented from performing his duties for a
period of six consecutive months, the Employer shall pay to the Executive his full Base Salary and
Annual Cash Bonus in respect of the period ending on the last day of the sixth consecutive month of
disability (the “Disability Date”), and the additional provisions set forth below shall
apply:

13.2 If the Executive has not resumed his usual duties on or prior to the Disability Date, the
Expiration Date of this agreement automatically shall accelerate to the Disability Date, and the
Employer shall pay to the Executive, or as directed by any properly appointed guardian of the
Executive, seventy-five percent (75%) of his Base Salary from the Disability Date through the end
of the Employment Agreement Term (without giving effect to any early termination provisions
contained in this agreement) and, the Employer shall have no obligation to pay any bonus,
discretionary bonus, or other form of compensation or consideration to the Executive in respect of
periods after the Disability Date, unless applicable law requires the Employer to do so. Any Base
Salary payable pursuant to this section shall be reduced by the amount of any benefits payable to
the Executive under any group or individual disability insurance plan or policy, where the premiums
for such plan or policy are paid primarily by the Employer;

13.3 Unless the Employer voluntarily exercises its option under Section 13.4 to restore the
Executive to his full compensation, duties, functions, authority and responsibilities, the
Executive shall have no obligations to the Employer from and after the Disability Date (except for
his obligations under Section 11, which shall survive); and

13.4 If during the Employment Agreement Term and after a Disability Date, the Executive shall
recover fully from a disability, the Employer, by action of the Board, shall have the right
(exercisable within sixty (60) days after notice from the Executive of such recovery), but not the
obligation, to restore the Executive to employment, full compensation, and his full level of
duties, functions, authority and responsibilities hereunder.

14 Non-competition.

Except as set forth in this agreement, during the Employment Agreement Term the Executive will
not, without the prior written approval of the Board, (a) become employed by, or become an officer,
director, or general partner of, any partnership, corporation or other entity in the media or
entertainment sectors (each a “Prohibited Business”) or (b) directly or indirectly,
purchase, invest or otherwise participate in any significant manner, in investments, businesses or
commercial operations in a Prohibited Business, unless such purchase, investment or participation
is conducted by and through Employer or its subsidiaries. Nothing in this Section 14 shall prohibit
the Executive from continuing to fulfill his obligations as an officer, director or partner of
companies or entities identified in Section 4.

15 Notices.  All notices, requests, consents and other communications, required or
permitted to be given hereunder, shall be in writing and shall be deemed to have been duly given if
delivered personally or sent by prepaid telegram, or mailed first class, postage prepaid, by
registered or certified mail, as follows (or to such other or additional address as either party
shall designate by notice in writing to the other in accordance herewith):

If to the Employer:

CKX, Inc.

650 Madison Avenue

New York, New York 10022

Attention: Board of Directors

If to the Executive:

Howard J. Tytel

100 Oyster Bay Road

Mill Neck, New York 11765

Copies of all communications given hereunder to the Employer shall also be delivered or sent, in
like fashion, to: Alan Annex, Esq., Greenberg Traurig, 200 Park Avenue, New York, New York 10166;
telephone: (212) 801-9323; facsimile: (212) 805-9323.

16 Disputes.

16.1 Arbitration of Monetary Disputes.    Any action or claim seeking monetary damages
arising between the parties to this agreement (including, without limitation, the Executive’s
representative following his death and any successor to the Employer), whether based on contract,
negligence, intentional tort, fraud or misrepresentation, statutorily prohibited discrimination,
including employment discrimination, or breach of other legal duty arising from or connected in any
manner with this agreement or its performance shall be resolved exclusively through final and
binding arbitration, as follows:

(a) The arbitration shall proceed in accordance with the National Rules for the
Resolution of Employment Disputes (the “Rules”) of the American Arbitration
Association (the “AAA”) in effect when the claim or dispute arose between
the parties, or in the event that the AAA no longer follows the National Rules for
the Resolution of Employment Disputes, then the AAA’s Commercial Arbitration Rules
(if applicable, the “Rules”) in effect on the date of this agreement. Either
party may, but neither party must, file or docket the dispute for administration by
the AAA, so long as the dispute proceeds in accordance with this Section 16.1 and
the applicable Rules.

(b) The arbitrator(s) shall be selected as follows: Each party shall by written
notice to the other have the right to appoint one arbitrator. If, within thirty
(30) days following the giving of such notice by one party, the other shall not, by
written notice, appoint another arbitrator, the first arbitrator shall be the sole
arbitrator. If two arbitrators are so appointed, they shall appoint a third
arbitrator. If thirty (30) days elapse after the appointment of the second
arbitrator and the two arbitrators are unable to agree upon the third arbitrator,
then either party may, in writing, request that the AAA appoint the third
arbitrator.

(c) Each party exclusively shall bear all costs, fees, and other expenses
charged by or associated with the arbitrator appointed by him or it, and the parties
equally shall pay the costs and expenses of any third appointed arbitrator. All
proceedings connected with the arbitration, including hearings, shall be held in New
York, New York, and where a party appoints an arbitrator who principally conducts
his or her business outside of New York, New York, the appointing party exclusively
shall bear that arbitrator’s travel, temporary lodging, and related costs and
expenses. The general counsel of the AAA or his or her designee, after the filing of
the dispute with the AAA, exclusively shall have the jurisdiction and the authority,
after written application filed by a party with the AAA and the opportunity for the
other party to respond in writing, to inequitably allocate between the parties the
AAA’s pre-hearing filing and administrative fees and the fees and expenses of any
appointed arbitrator(s), subject to reallocation among the parties by the
arbitrator(s) in any final award (or decision).

(d) All proceedings, hearings, testimony, documents, or writings related to the
arbitration shall be confidential, i.e., not disclosed by a party, a party’s
representative(s), or any testifying witnesses to a person or entity not a party to,
or interested in, the arbitration. The parties further agree, without regard to any
AAA rule to the contrary, that where a written reasoned award(s) is made by the
arbitrator(s), the arbitrator(s) also shall issue a one-page award (or decision) in
a form which permits a future need by any party to judicially enforce the award, but
that the written reasoned award shall not be disclosed by the parties to any person
or body not connected directly with the arbitration.

(e) The arbitrator(s) appointed exclusively shall have jurisdiction to
determine any claim, including the arbitrability of any claim, submitted to him,
her, or them. Each party shall bear its or his own arbitration costs and expenses,
including, without limitation, the costs and expenses associated with any attorney
or other expert or representative retained by the party in connection with a claim,
without regard to any pre-award application by the AAA of the last sentence of
Section 16.1(c). The interpretation and enforceability of the arbitration agreement
memorialized in this section shall be determined in accordance with the United
States Federal Arbitration Act (9 U.S.C. §1, et seq.) (the “FAA”), unless
the New York State Arbitration Act (the “New York Act”) (CPLR §7501, et
seq.) would make enforceable this agreement after an appointed arbitrator(s) finds
it unenforceable under the FAA, in which case the New York Act shall be applied. Any
process required or desirable in connection with any arbitration under this
Section 16.1 shall be issued and served as authorized by the FAA, the New York Act,
or any treaty to which the United States is a signatory, and upon a party by
personal or permitted substitute service anywhere in the world. The substantive law
applied by the arbitrator(s) to the determination of any claim or defense not
connected with the enforceability of this arbitration agreement shall be the
internal laws of the State of New York, without reference to conflicts of law
principles.

(f) The parties agree that the appointed arbitrator(s) shall have no power or
authority to make awards or issue orders of any kind, except as authorized by the
FAA and the internal laws of the State of New York. Any monetary award made shall be
payable promptly in United States dollars, free of any tax, offset, or deduction
(unless required by law), and any costs, fees, or taxes incident to enforcing the
award shall, to the maximum extent permitted by law, be charged against the party
resisting enforcement.

16.2 Claims for Equitable Relief.  Any action or proceeding initiated by any party to
this agreement seeking any form of temporary or preliminary injunctive relief, including, without
limitation, specific performance, connected with this agreement or its performance may be brought
against any other party in the courts of the State of New York or, if the party has or can acquire
jurisdiction, in the United States District Court for the Southern District of New York, and each
of the parties consents to the jurisdiction of such courts in any such action or proceeding, and
each party waives any objection to venue laid therein. Process in any action or proceeding referred
to in the preceding sentence may be served on any party anywhere in the world. The parties agree
that the pursuit of any relief described in this Section 16.2 in no way may or shall diminish,
defeat, or otherwise impair the agreement expressed in Section 16.1.

17 General.

17.1 Governing Law.  This agreement shall be interpreted, construed, and enforced in
accordance with the internal laws of the State of New York, without regard to conflicts of law
principles.

17.2 Captions.  This agreement contains section headings for reference only. The
headings in no way affect the meaning or interpretation of this agreement.

17.3 Entire Agreement.  This agreement fully memorializes the agreement and
understanding of its parties relating to its subject matter, and supersedes all prior or
contemporaneous agreements, arrangements and understandings, written or oral, between the parties
with respect to such subject matter.

17.4 Successors and Assigns.  This agreement, and the Executive’s rights and
obligations hereunder, may not be assigned by the Executive, and any prohibited assignment
attempted by the Executive is void. This agreement shall be binding on any successor to the
Employer, whether by merger, acquisition of substantially all of the Employer’s assets, or
otherwise, as fully as if such successor were a signatory hereto and the Employer shall cause such
successor to, and such successor shall, expressly assume the Employer’s obligations hereunder.
Notwithstanding anything else herein contained, the term “Employer” as used in this agreement,
shall include all such successors.

17.5 Amendments; Waivers.  This agreement cannot be changed, modified or amended, and
no provision or requirement hereof may be waived, without an affirmative vote of the Board or its
Compensation Committee and the consent in writing of the Executive and the Employer. The failure of
a party at any time or times to require performance of any provision hereof shall in no manner
affect the right of such party at a later time to enforce the same. No waiver by a party of the
breach of any term or covenant contained in this agreement, whether by conduct or otherwise, in any
one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of
any such breach, or a waiver of the breach of any other term or covenant contained in this
agreement.

17.6 Beneficiaries.  Whenever this agreement provides for any payment to the
Executive’s estate, such payment may be made instead to such beneficiary or beneficiaries as the
Executive may have designated in a writing filed with the Employer. The Executive shall have the
right to revoke any such designation and to redesignate a beneficiary or beneficiaries by written
notice to the Employer (and to any applicable insurance company) to such effect.

17.7 Reformation.  The Executive and the Employer agree that any provision of this
agreement deemed unenforceable or invalid may be reformed to permit enforcement of the
objectionable provision to the fullest permissible extent. Any provision of this agreement deemed
unenforceable after modification shall be deemed stricken from this agreement, with the remainder
of the agreement being given its full force and effect.

17.8 Full Negotiation.  The Executive and the Employer each independently have made
all inquiries regarding the qualifications of the other which he or it deems necessary. The
Executive and the Employer affirm that he or it fully understands this agreement’s meaning and
effect. Each party has participated fully and equally in the negotiation and drafting of this
agreement. Each party assumes the risk of any misrepresentation or mistaken understanding or belief
relied upon by him or it in entering into this agreement.

17.9 Tax Withholding. The Company may deduct from any compensation payable to the
Executive hereunder amounts sufficient to cover the Executive’s share of applicable federal, state
and/or local income tax withholding, old-age and survivors’ and other social security payments,
state disability and other insurance premiums and payments or other governmentally imposed charges
against income as may be required by law.

17.10 Currency.  Each and every reference to a monetary amount in this agreement means
United States dollars.

[SIGNATURE PAGE FOLLOWS]IN WITNESS WHEREOF, the parties have duly executed this
Employment Agreement as of the date first above written.

	 
	CKX, INC.

	By: /s/ Robert F.X. Sillerman

	 

	Name: Robert F.X. Sillerman

Title Chief Executive Officer

	/s/ Howard J. Tytel

	 

	Howard J. Tytel

[Tytel Employment Agreement]EX-10.2

EMPLOYMENT AGREEMENT

EMPLOYMENT AGREEMENT, made as of February 1, 2010, between CKX, Inc., a Delaware corporation
(the “Employer”), and Thomas P. Benson (the “Executive”).

WHEREAS, the Employer and the Executive entered into that certain Employment Agreement, dated
as of February 8, 2005 and as amended and restated on January 1, 2009, between the Employer and the
Executive, which agreement expired on February 7, 2010; and

WHEREAS, the Board of Directors of the Employer (the “Board”) has determined that it
is in the Employer’s interest to enter into this new Employment Agreement with the Executive in
order to secure, and in the future to be assured of, the Executive’s abilities, services, and
judgment as a member of senior management of the Employer, upon the terms and provisions and
subject to the conditions stated in this agreement.

NOW, THEREFORE, the Employer and the Executive agree as follows:

1 Employment.  Upon the terms and subject to the conditions of this agreement, the
Employer employs the Executive, and the Executive accepts employment.

2 Term; Dates.  The term of the Executive’s employment shall commence on February 1,
2010 and continue until third annual anniversary thereof (the “Employment Agreement Term”),
unless earlier terminated or renewed in accordance with this agreement.

2.1 This agreement refers to the dates defined in this section, as follows: (i) the date of
commencement of employment pursuant to this agreement is the “Effective Date”; (ii) the
period of time during which the Executive is an employee of the Employer pursuant to and in
accordance with the terms and provisions of this agreement is hereinafter referred to as the
“Term”; and (iii) the last date of employment is the “Expiration Date.”

3 Executive’s Position, Duties, and Authority.  

3.1 The Employer shall employ the Executive, and the Executive shall serve as Executive Vice
President and Chief Financial Officer of the Employer, and in such other positions with the
Employer and its subsidiaries that are reasonably acceptable to the Executive. The Executive shall
have executive duties, functions, authority, and responsibilities commensurate with the office or
offices he from time to time holds with the Employer in a corporation that is public, subject, in
accordance with applicable law, to the supervision and direction of the Board.

3.2 The Executive agrees to tailor his conduct with the written employment policies which the
Employer generally applies to all of its employees, and additionally agrees that the Employer may
make necessary and reasonable amendments to its policies from time to time during the Term, to the
extent not inconsistent with the terms of this agreement. The Executive and the Employer agree that
these policies supplement, but do not amend or otherwise modify, the express terms of this
agreement in the manner authorized by Section 17.5 of this agreement.

4 Principal Occupation.    The Executive shall devote his working time to the business
and affairs of the Employer and to the fulfillment of his duties under this agreement in a diligent
and competent fashion, consistent with industry standards.

4.1 The Employer acknowledges and agrees that during the Term:

(a) the Executive may wish to continue, or commence, service as a director and
officer (or in a similar capacity) on the governing body of other business entities
whose business is not competitive with that of the Employer or any of its
subsidiaries; and

(b) the Executive agrees that his service as described in Section 4.1(a) shall
be subject to the approval of the Employer’s Board, so long as the Board’s
discretion is not applied unreasonably.

Where the Board declines to approve the commencement of the Executive’s service or his
continued service, or the Board withdraws its approval for the continuation of the Executive’s
service as described in Section 4.1(a), the Executive agrees that he will resign from such
position, or withdraw himself from consideration. The Executive and Employer agree that nothing in
this Section 4.1 applies to the Executive’s membership or contribution of his non-working time or
services, in a non-remunerative capacity, to any: charitable or educational organization,
foundation, or association; political organization or campaign; religious group, foundation, or
organization; or non-profit trade, professional, community, or recreational organization or club,
so long as the purpose or aim of any such organization presents no conflict with the business of
the Employer, as determined by the Board.

4.2 The Employer acknowledges and agrees that during the Term, the Executive may devote a
portion of his business time to personal investments and outside business commitments, provided,
however that: (a) such activities do not conflict with the business of Employer, (b) such
activities do not interfere, directly or indirectly, with the performance by the Executive of his
obligations under this agreement, and (c) such activities do not result in a breach by the Employer
of any non-competition or any other similar type of agreement to which the Employer, or its
officers or directors, may be a party.

4.3 No provision of this agreement shall be construed to prohibit the Executive’s:
(a) acquisition, ownership, or trading, including without limitation the Executive’s indirect
ownership, of less than five percent (5%) of the issued and outstanding stock (or comparable bonds,
options, derivatives, or negotiable instruments) of a business entity having securities publicly
traded anywhere in the world; or (b) passive ownership of stock, partnership interests, or
comparable ownership interests or securities in any for-profit private business entity that is not
directly competitive with the business of the Employer or any of its subsidiaries. The Employer
additionally agrees that nothing in this agreement shall operate to prohibit the Executive’s
acceptance of a testamentary gift, bequest, or its equivalent, nor the Executive’s retention of any
such gift, bequest, or its equivalent following its delivery, so long as the Executive retains the
interest(s) solely for investment purposes.

5 Location of Employment.5.1   Unless the Executive otherwise consents in writing, the
usual place for the performance of his services shall be the Employer’s principal office located in
the Borough of Manhattan, New York, New York, or such other location within Manhattan or Nassau
County, New York, as established by the Employer.

6 Base Salary.  During the Term, the Employer shall pay or cause to be paid to the
Executive an initial annualized base salary, payable in equal installments during each year of the
Term equal to $700,000, provided that the Board shall review the Executive’s base salary at least
annually and the Board may increase, but not decrease, the base salary (such annual base salary, as
it may be increased from time to time, the “Base Salary”).

7 Bonus and Equity Grants.

7.1 During each year of the Term, the Executive shall be eligible to participate in the
executive incentive bonus plan adopted by the Compensation Committee of the Board (the
“Compensation Committee”) for such year, and shall be eligible to receive an annual cash
bonus under such plan (any such cash bonus an “Annual Cash Bonus”), provided that the
Executive’s annual target cash bonus under any such plan shall not be less than $350,000 (the
“Target Bonus”).

7.2 The Executive shall be eligible to receive an annual grant of restricted stock, stock
options or other equity award as determined by the Compensation Committee (any such equity award an
“Equity Grant”). The determination whether to award an Equity Grant and the form and amount
of any such Equity Grant shall be at the discretion of the Compensation Committee.

8 Expenses.8.1   The Employer shall reimburse the Executive for all reasonable
expenses actually incurred or paid by the Executive during the Term in the performance of the
Executive’s services. The Employer shall make reimbursement within a reasonable time following the
Executive’s presentation of expense statements, vouchers, receipts, or such other supporting
information as the Employer reasonably may require from the Executive. The Executive acknowledges
that the Employer’s policies regarding the documentation of expenses for which reimbursement is
sought may change from time to time, and the Executive agrees that he will comply with the
Employer’s reasonable documentation requirements; provided that each and every
reimbursement due hereunder shall be requested and paid not later than six months after being
incurred.

9 Benefits.

9.1 The Executive shall be eligible to accrue the equivalent of six (6) weeks vacation during
each full year of the Term. The Employer will credit the Executive for his full annual accrual at
the commencement of each full year of the Term, i.e. not on a proportional basis during the course
of each year of the Term. The Executive additionally shall be entitled to remain away from work for
as many or as few days as required by the Executive due to the Executive’s bona fide illness,
subject to the provisions of Section 13 of this agreement. The Executive may observe any legal
holidays, other holidays recognized by the Employer, and religious holidays that the Executive
deems appropriate, in the sound exercise of his business judgment.

9.2 During the Term, the Executive shall be eligible to participate in any pension, profit
sharing, incentive stock option, stock purchase, stock grant program or plan, and retirement
savings program or plan established by the Employer or any of its subsidiaries for which the
Executive provides services hereunder (“Participating Subsidiaries”), including, without
limitation, any such program or plan offered by the Employer or Participating Subsidiaries to its
executive or non-executive employees. The Executive additionally shall be eligible to participate
in any group life insurance, hospitalization, medical, health and accident, dental, disability, or
similar plan or program made available by the Employer or Participating Subsidiaries to its
executive or non-executive employees. The Executive acknowledges that his participation in any
benefit plan described in this Section 9.2 may require, where required from other senior executives
of the Employer or Participating Subsidiaries, the Executive’s co-payment of a periodic premium as
a deduction from the Base Salary payable to him. The Executive additionally acknowledges that the
Executive’s actual ability to participate in any program, plan, or other benefit opportunity in
which the Executive otherwise is eligible to participate ultimately may be determined and governed
by the terms and conditions of a third-party provider’s plan or program, and the Executive affirms
that any third-party’s decision denying the Executive’s participation in a particular program or
plan, the provision of coverage or a benefit in respect of a particular circumstance or expense, or
a comparable decision adversely affecting the Executive shall not constitute a breach of this
agreement by the Employer, so long as the Employer does not offer, designate, or select a program
or plan with the actual intention of excluding the Executive’s eligibility or participation in the
opportunity.

9.3 The Executive acknowledges that the Employer may, as it deems appropriate, seek, obtain,
and maintain during all or part of the Term insurance connected with the life of the Executive, and
for the benefit of the Employer. In the event that the Employer elects to do so, the Executive
agrees: to provide any medical information required by the insurer issuing such coverage; to submit
no more frequently than semi-annually to any medical examination required by the insurer in
connection with the granting or renewal of such coverage; and to otherwise cooperate reasonably
with the Employer’s attempts to obtain such coverage. Any insurer’s rejection of an application
submitted by the Employer connected with this Section 9.3 in no event shall constitute a breach of
this agreement by the Executive, and the Employer shall not request nor in another manner seek any
information from the Executive, the insurer, or any other person(s) connected with the rejection.

9.4 The Employer agrees that in the event of the Executive’s death during the Term, the
Employer shall cause any stock options, restricted stock or other equity-based instruments that
previously were issued to the Executive to vest fully and shall take all action necessary to cause
the assignment or transfer of such options, securities or other instruments as directed by the
Executive’s will or testamentary plan, or as directed by any duly appointed administrator or
executor of the Executive’s estate.

10 Indemnification.  The Employer shall indemnify the Executive against all losses,
claims, expenses, or other liabilities of any nature arising by reason of the fact that he: (a) is
or was a director, officer, employee, or agent of the Employer or any of its subsidiaries or
affiliates; or (b) while a director, officer, employee or agent of the Employer or any of its
subsidiaries or affiliates, is or was serving at the request of the Employer as a director,
officer, partner, venturer, proprietor, trustee, employee, agent or similar functionary of another
corporation, partnership, joint venture, trust, employee benefit plan or other entity, in each case
to the fullest extent permitted under the Delaware General Corporation Law, as the same exists or
may hereafter be amended. Without limiting the generality of the foregoing, the Executive shall be
entitled in connection with his employment and in connection with his services as an officer and
director of the Employer to the benefit of the provisions relating to indemnification and
advancement of defense costs and expenses contained in the bylaws and certificate of incorporation
of the Employer, as the same in the future may be amended (not including any amendments or
additions that limit or narrow, but including any that add to or broaden, the protection afforded
to the Executive), to the fullest extent permitted by applicable law. The Employer shall advance to
the Executive all costs of investigation or defense incurred by the Executive in connection with
any pending or threatened claim for which the Executive may be entitled to indemnification
hereunder, provided that the Executive shall agree to return to the Employer any such reimbursed
amounts, without interest, if it is determined in a final, non-appealable judgment by a Court of
competent jurisdiction that the Executive is not entitled to indemnification by the Employer for
losses incurred in connection with such claim. The indemnification obligations of the Employer
shall survive from the Effective Date of this agreement and continue until three (3) months after
the expiration of any applicable statute of limitations with respect to any claim made against the
Executive for which the Executive is or may be entitled to indemnification (the “Survival
Period”), and shall survive after the Survival Period with respect to any indemnification claim
as to which the Employer has received notice on or prior to the end of the Survival Period. The
Employer’s belief regarding a statute of limitations applicable to a claim, any position taken by
the Employer in response to a claim, or the determination of any judicial, quasi-judicial, or
arbitral body in connection with a claim and any statute of limitations applicable to a claim(s)
shall in no event relieve the Employer from its obligation to indemnify the Executive. The Employer
shall prepay in full, and maintain fully during the Survival Period for the benefit of the
Executive, on an “occurrence” basis, a directors and officers errors and omissions insurance
policy, or a similar insurance policy(ies), providing coverage from a financially reputable
carrier. Anything in this agreement to the contrary notwithstanding, this Section 10 shall survive
the termination of this agreement for any reason.

11 Confidential Information.    The Executive acknowledges that his employment will
fully familiarize the Executive with the trade secrets and confidential and proprietary information
of the Employer (the “Confidential Information”). Examples of the Employer’s Confidential
Information include, without limitation, information regarding the Employer’s costs, profits,
markets, sales, products, key personnel, operational methods, technical processes, business
strategies, and other information which the Employer engages in efforts to protect from disclosure
or discovery by its competitors, actual and prospective clients, and other third parties. The
Executive further acknowledges that the unintentional or intentional disclosure of the Employer’s
Confidential Information would have a material adverse effect on the operations and development of
the Employer’s business. The Executive therefore covenants and agrees as set forth below:

11.1 The Executive will during the Term and at all times thereafter, keep secret all
Confidential Information, and will not intentionally disclose Confidential Information to anyone
outside of the Employer and its subsidiaries and affiliates and their respective advisors,
directors, officers, employees, agents, consultants, financing sources and other representatives,
other than in connection with the Executive’s performance of his duties under this agreement except
with the Employer’s consent, provided that: (i) the Executive shall have no such obligation to the
extent Confidential Information is or becomes publicly known, other than as a result of the
Executive’s breach of his obligations hereunder; and (ii) the Executive may, after giving prior
notice to the Employer to the extent practicable under the circumstances, disclose such matters to
the extent required by applicable laws or governmental regulations or judicial or regulatory
process; provided, however, that if the Executive is required (by oral questions, interrogatories,
requests for information or documents, subpoena, civil investigative demand or similar process) to
disclose any Confidential Information pursuant to the foregoing clause (ii), he agrees to use
reasonable efforts to provide the Employer with prompt notice of each such request so that the
Employer may seek an appropriate protective order or waive compliance by the Executive with the
provisions of this agreement or both; provided, further, that if, absent the entry of a protective
order or the receipt of a waiver under this agreement, the Executive is, in the opinion of his
counsel, legally compelled to disclose such Confidential Information under pain of liability for
contempt or other censure or penalty (civil or criminal), the Executive may disclose such
information to the persons and to the extent required without liability under this agreement. In
such event, the Executive shall give the Employer written notice of such disclosure, in reasonable
detail, as soon as possible, but in any event not later than concurrently with making such
disclosure, and the Executive shall exercise his reasonable commercial efforts to obtain reliable
assurances that confidential treatment will be accorded any such Confidential Information so
disclosed.

11.2 The Executive will deliver promptly to the Employer at the termination of his employment
by the Employer, or at any other time the Employer may so request, all memoranda, notes, records,
reports, and other documents (including, without limitation, drafts, whole or partial copies, and
information stored or maintained electronically, magnetically, in a computer, or through any other
medium invented in the future) relating to the Employer’s business, which he obtained while
employed by, or otherwise serving or acting on behalf of, the Employer and which he may then
possess or have under his control.

11.3 The Executive’s duties may require that he enter into confidentiality agreements,
nondisclosure agreements, or comparable agreements with third parties, and a third party may
require the Executive’s entry into such an agreement(s) personally and on behalf of the Employer.
In any such event, the Executive agrees to engage in reasonable efforts to perform any such
agreement.

11.4 During the Term, the Employer may adopt or implement additional Confidential Information
policies, procedures, or requirements in connection with the Employer’s business, and any such
policies, procedures, or requirements will supplement this Section 11, without additional
consideration from the Employer to the Executive, except to the extent, if any, that they conflict
with this agreement, in which event this agreement shall control and govern.

12 Termination.  The following definitions shall apply to the use of such terms in
this agreement:

12.1 “Cause” means:

(a) the Executive engages in any intentional act of fraud against Employer;

(b) the Executive engages in willful malfeasance or gross negligence in his
performance of this Agreement or his capacity as an employee of the Company;

(c) the Executive’s refusal to perform the duties required or requested of him
consistent with his obligations under this agreement;

(d) the Executive’s conviction of a felony or entering a plea of nolo contendre
to a felony charge;

(e) a willful violation by the Executive of the written policies of Employer;

(f) a willful unauthorized disclosure by the Executive of trade secrets or
other confidential information of the Employer;

(g) a willful failure by the Executive to cooperate with a bona fide internal
investigation or any investigation of the Employer or an employee thereof by any
governmental or regulatory authority;

(h) a willful failure to preserve, or intentional destruction of, documents or
other materials known to be relevant to a bona fide internal investigation or any
investigation of the Employer or an employee thereof by any governmental or
regulatory authority; or

(i) willful inducement by the Executive of others to fail to cooperate in any
bona fide internal investigation or any investigation of the Employer or an employee
thereof by any governmental or regulatory authority.

For purposes of this Section 12.1, no act, or failure to act, by the Executive shall be
“willful” unless committed without a reasonable belief that the act or omission was in the best
interest of the Employer.

12.2 “Change in Control” means the occurrence, in a single transaction or in a series
of related transactions, of any one or more of the following events:

(a) any “person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (an
“Exchange Act Person”) (other than Robert F.X. Sillerman or a Related Party
(as defined below)) becomes the “beneficial owner” (as defined in Rule 13d-3 of the
Exchange Act), directly or indirectly, of securities of the Company representing
more than fifty percent (50%) of the combined voting power of the Company’s then
outstanding securities other than by virtue of a merger, consolidation or similar
transaction, provided that, notwithstanding the foregoing, a Change in Control shall
not be deemed to occur solely because the level of ownership held by any Exchange
Act Person (the “Subject Person”) exceeds the designated percentage
threshold of the outstanding voting securities as a result of a repurchase or other
acquisition of voting securities by the Company reducing the number of shares
outstanding, provided further that if a Change in Control would occur (but for the
operation of this proviso) as a result of the acquisition of voting securities by
the Company, and after such share acquisition, the Subject Person becomes the owner
of any additional voting securities that, assuming the repurchase or other
acquisition had not occurred, increases the percentage of the then outstanding
voting securities owned by the Subject Person over the designated percentage
threshold, then a Change in Control shall be deemed to occur;

(b) there is consummated a merger, consolidation or similar transaction
involving (directly or indirectly) the Company if, immediately after the
consummation of such merger, consolidation or similar transaction, the stockholders
of the Company immediately prior thereto do not own, directly or indirectly, either
(A) outstanding voting securities representing more than fifty percent (50%) of the
combined outstanding voting power of the surviving entity in such merger,
consolidation or similar transaction or (B) more than fifty percent (50%) of the
combined outstanding voting power of the parent of the surviving entity in such
merger, consolidation or similar transaction;

(c) there is consummated a sale, lease, license or other disposition of all or
substantially all of the consolidated assets of the Company and its subsidiaries,
other than a sale, lease, license or other disposition of all or substantially all
of the consolidated assets of the Company and its subsidiaries to an entity, more
than fifty percent (50%) of the combined voting power of the voting securities of
which are owned by stockholders of the Company in substantially the same proportion
as their ownership of the Company immediately prior to such sale, lease, license or
other disposition; or

(d) during any period of 12 consecutive months, individuals who at the
beginning of such period constitute the Board cease for any reason to constitute at
least a majority thereof unless the election, or the nomination for election by
stockholders, of each new director was approved by a vote of at least a majority of
the directors then still in office who were directors at the beginning of the
period.

For the purposes of this Section 12.2 “Related Party” means (x) any spouse
or immediate family member of Robert F.X. Sillerman, (y) any trust, corporation,
partnership or other entity, the beneficiaries, stockholders, partners, owners or
persons beneficially holding a fifty-one percent (51%) or more controlling interest
of which consist of Robert F.X. Sillerman and/or such other persons referred to in
the immediately preceding clause (x) or (z) the trustees of any trust referred to in
the immediately preceding clause (y).

12.3 “Constructive Termination without Cause” means the termination of the Executive’s
employment at his initiative after, without the Executive’s prior written consent, one or more of
the following events:

(a) the failure to elect the Executive to any of the positions described in
Section 3; any material diminution or adverse change in the duties, authority,
responsibilities, or positions of the Executive; or the removal of the Executive
from any executive management position in a manner contrary to this agreement or the
Employer’s then effective certificate of incorporation or by-laws;

(b) the assignment to the Executive of duties or responsibilities which result
in material and permanent adverse change in Executive’s reporting relationship to
other executive positions within Employer; or

(c) a reduction in the Base Salary or Target Bonus.

The Executive agrees that each of the following must occur before the Executive may assert the
existence of a Constructive Termination without Cause: (i) the Executive must provide written
notice to the Board or the Chairman of the Board, within a period not to exceed ten (10) days, with
reasonable specification of the matter(s) giving rise to the notice; (ii) the Employer must have
the opportunity, through the Chairman or a Board member designated by him, to respond in writing to
the written notice, with the assistance of any counsel deemed appropriate by the Employer (at its
expense) not sooner than ten (10) business days after delivery of the written notice; (iii)  upon
delivery of the written notice referred to in clause (i) of this paragraph, the Employer shall have
a period of thirty (30) days within which to cure any deficiency that would result in Constructive
Termination without Cause; and (iv) if the Employer fails to cure a deficiency within such thirty
(30) day period, the Executive must actually terminate employment within fifteen (15) days of the
Employer’s failure to cure such deficiency. The Board must have the opportunity, acting
collectively or through a designee, to investigate, inquire, and otherwise inform itself of the
assertion, followed by a hearing before the Board during which the Executive is allowed the
opportunity to orally present his position during a confidential meeting of the entire Board, and
the Employer is allowed to respond, within ten (10) business days after the Employer delivers to
the Executive its written response to the Executive’s written notice.

12.4 Termination by the Employer for Cause.    If the Employer terminates this
agreement for Cause, the Executive shall be paid, as soon as practicable but no later than two and
one-half months following such termination, all earned but unpaid Base Salary through the date of
termination. In the event the Employer terminates the Executive’s employment for Cause, the
Executive shall have no further obligation or liability to the Employer in connection with his
performance of this agreement (except the continuing obligations specified in Section 11).

12.5 Termination without Cause or Constructive Termination without Cause.    In the
event the Employer terminates Executive’s employment without Cause, other than due to disability or
death, or in the event there is a Constructive Termination without Cause (in each case other than a
Change in Control Termination as set forth in Section 12.6), the Executive shall be entitled to:

(a) be paid by the Employer the Base Salary in effect on the date of
termination (or in the event a Base Salary reduction is the basis for a Constructive
Termination without Cause, the Base Salary in effect immediately prior to such a
reduction) through the date of termination, with payment made as soon as practicable
but no later than two and one-half months following such termination date;

(b) a lump sum, to be paid by the Employer as soon as practicable but not later
than two and one-half months following such termination date, equal to the Base
Salary in effect on the date of termination (or in the event a Base Salary reduction
is the basis for a Constructive Termination without Cause, the Base Salary in effect
immediately prior to such a reduction) for two (2) years following such termination
(the “Post Termination Salary Payment”), provided that from and after
February 1, 2011, the Post Termination Salary Payment shall be reduced by
1/24th of the total such payment for each full month that Executive has
been employed pursuant to this agreement after February 1, 2011 and prior to such
termination, provided however that in no event shall the Post Termination Salary
Payment equal less than the annual Base Salary in effect on the date of such
termination or salary reduction.

(c) all benefits provided in Sections 8 and 9 (except that if providing any
such benefit under the terms of a plan would cause an adverse tax effect, the
Employer may provide the Executive with equivalent cash payments outside of the plan
at the same time the benefits would otherwise have been taxable to the Executive)
for a period of two (2) years following such termination (the “Post Termination
Benefit Period”), with no additional cost or charge payable by the Executive,
provided that from and after February 1, 2011, the Post Termination Benefit Period
shall be reduced by one month for each full month that Executive has been employed
pursuant to this agreement after February 1, 2011 and prior to such termination,
provided however that in no event shall the Post Termination Benefit Period be less
than one (1) year.

(d) Notwithstanding the foregoing, if at the time of Executive’s Separation
from Service (as defined in Treasury Regulation 1.409A-1(h)) the Executive is a
“specified employee” within the meaning of Code Section 409A(a)(2)(B)(i), any amount
or benefits that constitutes “nonqualified deferred compensation” within the meaning
of Code Section 409A that becomes payable to Executive on account of the Executive’s
Separation from Service will not be paid until after the earlier of (i) first
business day of the seventh month following Executive’s Separation from Service, or
(ii) the date of the Executive’s death (the “409A Suspension Period”).
Within fourteen (14) calendar days after the end of the 409A Suspension Period, the
Executive shall be paid a cash lump sum payment equal to any payments (including
interest on any such payments), and benefits that the Employer would otherwise have
been required to provide under this Section 12.5 or Section 12.6 but for the
imposition of the 409A Suspension Period delayed because of the preceding sentence.
Thereafter, the Executive shall receive any remaining payments and benefits due
under this agreement in accordance with the terms of this Section (as if there had
not been any Suspension Period beforehand).

12.6 Termination Following a Change in Control. If, within 12 months following a
Change in Control, the Employer terminates Executive’s employment without Cause, other than due to
disability or death, or there is a Constructive Termination without Cause (a “Change in Control
Termination”), the Executive shall be entitled to be paid by the Employer, as soon as
practicable but no later than two and one-half months following the date of termination:

(a) the Base Salary in effect on the date of termination (or in the event a
Base Salary reduction is the basis for a Constructive Termination without Cause, the
Base Salary in effect immediately prior to such a reduction) through the date of
termination, plus

(b) the greater of (i) the amount specified under Section 12.5(b) above, or
(ii) a lump sum equal to (x) the Base Salary in effect on the date of termination
(or in the event a Base Salary reduction is the basis for a Constructive Termination
without Cause, the Base Salary in effect immediately prior to such a reduction) for
one (1) year following such termination, plus (y) a lump sum equal to the amount of
the target Annual Cash Bonus specified for the year in which such termination occurs
in any executive incentive bonus plan adopted by the Compensation Committee, or if
no such plan has been adopted, the amount of the Target Bonus.

The Executive shall also be entitled to the rights specified in Section 12.5(c) for the period set
forth in such section.

12.7 Voluntary Termination.    In the event of the termination of this agreement at
the conclusion of the Employment Agreement Term, or by the Executive on his own initiative other
than: (a) a termination due to death or disability; (b) a Constructive Termination without Cause;
or (c) a Change in Control Termination, the Executive shall have the same entitlements as provided
in Section 12.4 for a termination for Cause. A voluntary termination of employment by the Executive
shall be effective upon reasonable written notice to the Employer. Written notice need not be
provided in the event of a termination due to death or disability.

12.8 No Mitigation or Offset.    At any termination of the Executive’s employment, the
Executive shall have no obligation to seek other employment. There shall be no offset against
amounts due the Executive under this agreement on account of any remuneration attributable to any
later employment, consultancy, partnership, or other remunerative activity connected with the
Executive. However, the Employer may offset (at any time before the date that is two and one-half
months after the end of the calendar year in which the Executive’s employment terminates) any
amounts owed by the Executive to the Employer or any of its subsidiaries or affiliates against
amounts due to the Executive under this agreement.

13 Disability.

13.1 If during the Executive’s active employment the Executive becomes physically or mentally
disabled, whether totally or partially, so that he is prevented from performing his duties for a
period of six consecutive months, the Employer shall pay to the Executive his full Base Salary and
Annual Cash Bonus in respect of the period ending on the last day of the sixth consecutive month of
disability (the “Disability Date”), and the additional provisions set forth below shall
apply:

13.2 If the Executive has not resumed his usual duties on or prior to the Disability Date, the
Expiration Date of this agreement automatically shall accelerate to the Disability Date, and the
Employer shall pay to the Executive, or as directed by any properly appointed guardian of the
Executive, seventy-five percent (75%) of his Base Salary from the Disability Date through the end
of the Employment Agreement Term (without giving effect to any early termination provisions
contained in this agreement) and, the Employer shall have no obligation to pay any bonus,
discretionary bonus, or other form of compensation or consideration to the Executive in respect of
periods after the Disability Date, unless applicable law requires the Employer to do so. Any Base
Salary payable pursuant to this section shall be reduced by the amount of any benefits payable to
the Executive under any group or individual disability insurance plan or policy, where the premiums
for such plan or policy are paid primarily by the Employer;

13.3 Unless the Employer voluntarily exercises its option under Section 13.4 to restore the
Executive to his full compensation, duties, functions, authority and responsibilities, the
Executive shall have no obligations to the Employer from and after the Disability Date (except for
his obligations under Section 11, which shall survive); and

13.4 If during the Employment Agreement Term and after a Disability Date, the Executive shall
recover fully from a disability, the Employer, by action of the Board, shall have the right
(exercisable within sixty (60) days after notice from the Executive of such recovery), but not the
obligation, to restore the Executive to employment, full compensation, and his full level of
duties, functions, authority and responsibilities hereunder.

14 Non-competition.

Except as set forth in this agreement, during the Employment Agreement Term the Executive will
not, without the prior written approval of the Board, (a) become employed by, or become an officer,
director, or general partner of, any partnership, corporation or other entity in the media or
entertainment sectors (each a “Prohibited Business”) or (b) directly or indirectly,
purchase, invest or otherwise participate in any significant manner, in investments, businesses or
commercial operations in a Prohibited Business, unless such purchase, investment or participation
is conducted by and through Employer or its subsidiaries. Nothing in this Section 14 shall prohibit
the Executive from continuing to fulfill his obligations as an officer, director or partner of
companies or entities identified in Section 4.

15 Notices.  All notices, requests, consents and other communications, required or
permitted to be given hereunder, shall be in writing and shall be deemed to have been duly given if
delivered personally or sent by prepaid telegram, or mailed first class, postage prepaid, by
registered or certified mail, as follows (or to such other or additional address as either party
shall designate by notice in writing to the other in accordance herewith):

If to the Employer:

CKX, Inc.

650 Madison Avenue

New York, New York 10022

Attention: Board of Directors

If to the Executive:

Thomas P. Benson

99 Lawrence Hill Road

Cold Spring Harbor, New York 11724

Copies of all communications given hereunder to the Employer shall also be delivered or sent, in
like fashion, to: Alan Annex, Esq., Greenberg Traurig, 200 Park Avenue, New York, New York 10166;
telephone: (212) 801-9323; facsimile: (212) 805-9323.

16 Disputes.

16.1 Arbitration of Monetary Disputes.    Any action or claim seeking monetary damages
arising between the parties to this agreement (including, without limitation, the Executive’s
representative following his death and any successor to the Employer), whether based on contract,
negligence, intentional tort, fraud or misrepresentation, statutorily prohibited discrimination,
including employment discrimination, or breach of other legal duty arising from or connected in any
manner with this agreement or its performance shall be resolved exclusively through final and
binding arbitration, as follows:

(a) The arbitration shall proceed in accordance with the National Rules for the
Resolution of Employment Disputes (the “Rules”) of the American Arbitration
Association (the “AAA”) in effect when the claim or dispute arose between
the parties, or in the event that the AAA no longer follows the National Rules for
the Resolution of Employment Disputes, then the AAA’s Commercial Arbitration Rules
(if applicable, the “Rules”) in effect on the date of this agreement. Either
party may, but neither party must, file or docket the dispute for administration by
the AAA, so long as the dispute proceeds in accordance with this Section 16.1 and
the applicable Rules.

(b) The arbitrator(s) shall be selected as follows: Each party shall by written
notice to the other have the right to appoint one arbitrator. If, within thirty
(30) days following the giving of such notice by one party, the other shall not, by
written notice, appoint another arbitrator, the first arbitrator shall be the sole
arbitrator. If two arbitrators are so appointed, they shall appoint a third
arbitrator. If thirty (30) days elapse after the appointment of the second
arbitrator and the two arbitrators are unable to agree upon the third arbitrator,
then either party may, in writing, request that the AAA appoint the third
arbitrator.

(c) Each party exclusively shall bear all costs, fees, and other expenses
charged by or associated with the arbitrator appointed by him or it, and the parties
equally shall pay the costs and expenses of any third appointed arbitrator. All
proceedings connected with the arbitration, including hearings, shall be held in New
York, New York, and where a party appoints an arbitrator who principally conducts
his or her business outside of New York, New York, the appointing party exclusively
shall bear that arbitrator’s travel, temporary lodging, and related costs and
expenses. The general counsel of the AAA or his or her designee, after the filing of
the dispute with the AAA, exclusively shall have the jurisdiction and the authority,
after written application filed by a party with the AAA and the opportunity for the
other party to respond in writing, to inequitably allocate between the parties the
AAA’s pre-hearing filing and administrative fees and the fees and expenses of any
appointed arbitrator(s), subject to reallocation among the parties by the
arbitrator(s) in any final award (or decision).

(d) All proceedings, hearings, testimony, documents, or writings related to the
arbitration shall be confidential, i.e., not disclosed by a party, a party’s
representative(s), or any testifying witnesses to a person or entity not a party to,
or interested in, the arbitration. The parties further agree, without regard to any
AAA rule to the contrary, that where a written reasoned award(s) is made by the
arbitrator(s), the arbitrator(s) also shall issue a one-page award (or decision) in
a form which permits a future need by any party to judicially enforce the award, but
that the written reasoned award shall not be disclosed by the parties to any person
or body not connected directly with the arbitration.

(e) The arbitrator(s) appointed exclusively shall have jurisdiction to
determine any claim, including the arbitrability of any claim, submitted to him,
her, or them. Each party shall bear its or his own arbitration costs and expenses,
including, without limitation, the costs and expenses associated with any attorney
or other expert or representative retained by the party in connection with a claim,
without regard to any pre-award application by the AAA of the last sentence of
Section 16.1(c). The interpretation and enforceability of the arbitration agreement
memorialized in this section shall be determined in accordance with the United
States Federal Arbitration Act (9 U.S.C. §1, et seq.) (the “FAA”), unless
the New York State Arbitration Act (the “New York Act”) (CPLR §7501, et
seq.) would make enforceable this agreement after an appointed arbitrator(s) finds
it unenforceable under the FAA, in which case the New York Act shall be applied. Any
process required or desirable in connection with any arbitration under this
Section 16.1 shall be issued and served as authorized by the FAA, the New York Act,
or any treaty to which the United States is a signatory, and upon a party by
personal or permitted substitute service anywhere in the world. The substantive law
applied by the arbitrator(s) to the determination of any claim or defense not
connected with the enforceability of this arbitration agreement shall be the
internal laws of the State of New York, without reference to conflicts of law
principles.

(f) The parties agree that the appointed arbitrator(s) shall have no power or
authority to make awards or issue orders of any kind, except as authorized by the
FAA and the internal laws of the State of New York. Any monetary award made shall be
payable promptly in United States dollars, free of any tax, offset, or deduction
(unless required by law), and any costs, fees, or taxes incident to enforcing the
award shall, to the maximum extent permitted by law, be charged against the party
resisting enforcement.

16.2 Claims for Equitable Relief.  Any action or proceeding initiated by any party to
this agreement seeking any form of temporary or preliminary injunctive relief, including, without
limitation, specific performance, connected with this agreement or its performance may be brought
against any other party in the courts of the State of New York or, if the party has or can acquire
jurisdiction, in the United States District Court for the Southern District of New York, and each
of the parties consents to the jurisdiction of such courts in any such action or proceeding, and
each party waives any objection to venue laid therein. Process in any action or proceeding referred
to in the preceding sentence may be served on any party anywhere in the world. The parties agree
that the pursuit of any relief described in this Section 16.2 in no way may or shall diminish,
defeat, or otherwise impair the agreement expressed in Section 16.1.

17 General.

17.1 Governing Law.  This agreement shall be interpreted, construed, and enforced in
accordance with the internal laws of the State of New York, without regard to conflicts of law
principles.

17.2 Captions.  This agreement contains section headings for reference only. The
headings in no way affect the meaning or interpretation of this agreement.

17.3 Entire Agreement.  This agreement fully memorializes the agreement and
understanding of its parties relating to its subject matter, and supersedes all prior or
contemporaneous agreements, arrangements and understandings, written or oral, between the parties
with respect to such subject matter.

17.4 Successors and Assigns.  This agreement, and the Executive’s rights and
obligations hereunder, may not be assigned by the Executive, and any prohibited assignment
attempted by the Executive is void. This agreement shall be binding on any successor to the
Employer, whether by merger, acquisition of substantially all of the Employer’s assets, or
otherwise, as fully as if such successor were a signatory hereto and the Employer shall cause such
successor to, and such successor shall, expressly assume the Employer’s obligations hereunder.
Notwithstanding anything else herein contained, the term “Employer” as used in this agreement,
shall include all such successors.

17.5 Amendments; Waivers.  This agreement cannot be changed, modified or amended, and
no provision or requirement hereof may be waived, without an affirmative vote of the Board or its
Compensation Committee and the consent in writing of the Executive and the Employer. The failure of
a party at any time or times to require performance of any provision hereof shall in no manner
affect the right of such party at a later time to enforce the same. No waiver by a party of the
breach of any term or covenant contained in this agreement, whether by conduct or otherwise, in any
one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of
any such breach, or a waiver of the breach of any other term or covenant contained in this
agreement.

17.6 Beneficiaries.  Whenever this agreement provides for any payment to the
Executive’s estate, such payment may be made instead to such beneficiary or beneficiaries as the
Executive may have designated in a writing filed with the Employer. The Executive shall have the
right to revoke any such designation and to redesignate a beneficiary or beneficiaries by written
notice to the Employer (and to any applicable insurance company) to such effect.

17.7 Reformation.  The Executive and the Employer agree that any provision of this
agreement deemed unenforceable or invalid may be reformed to permit enforcement of the
objectionable provision to the fullest permissible extent. Any provision of this agreement deemed
unenforceable after modification shall be deemed stricken from this agreement, with the remainder
of the agreement being given its full force and effect.

17.8 Full Negotiation.  The Executive and the Employer each independently have made
all inquiries regarding the qualifications of the other which he or it deems necessary. The
Executive and the Employer affirm that he or it fully understands this agreement’s meaning and
effect. Each party has participated fully and equally in the negotiation and drafting of this
agreement. Each party assumes the risk of any misrepresentation or mistaken understanding or belief
relied upon by him or it in entering into this agreement.

17.9 Tax Withholding. The Company may deduct from any compensation payable to the
Executive hereunder amounts sufficient to cover the Executive’s share of applicable federal, state
and/or local income tax withholding, old-age and survivors’ and other social security payments,
state disability and other insurance premiums and payments or other governmentally imposed charges
against income as may be required by law.

17.10 Currency.  Each and every reference to a monetary amount in this agreement means
United States dollars.

[SIGNATURE PAGE FOLLOWS]

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

	 
	CKX, INC.

	By: /s/ Robert F.X. Sillerman

	 

	Name: Robert F.X. Sillerman

Title: Chief Executive Officer

	/s/ Thomas P. Benson

	 

	Thomas P. Benson

[Benson Employment Agreement]

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