Document:

EX-10.1

EXHIBIT 10.1

EMPLOYMENT AGREEMENT

This Employment Agreement (this “Agreement”) is effective the 1st day of September, 2007 (the
“Effective Date”) by and between Live Nation Music (UK) Limited, a United Kingdom corporation
(“Live Nation”), and Alan B. Ridgeway (the “Employee”).

WHEREAS, Live Nation and the Employee desire to enter into an employment relationship under
the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements included in this
Agreement and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties, intending to be legally bound, agree as follows:

1. TERM OF EMPLOYMENT

The Employee’s term of employment starts on the Effective Date and ends on the close of
business on December 31, 2010, unless terminated earlier pursuant to the terms set forth in Section
7 below (the “Term”). Beginning on January 1, 2010 and continuing for so long thereafter as the
Employee is employed hereunder, the Employee’s employment term shall be automatically extended day
to day so that there will always be exactly 12 months remaining in the term of employment, unless
either party terminates this Agreement in accordance with Section 7 below.

2. TITLE AND DUTIES; EXCLUSIVE SERVICES

The Employee’s initial title is Chief Executive Officer, International Music, as such title
may be amended upon the mutual agreement of the parties. The Employee will perform such job duties
that are usual and customary for this position, and will perform such additional services and
duties that Live Nation may from time to time designate that are consistent with the usual and
customary duties of this position (the “Services”). The Employee will report to the President and
Chief Executive Officer (the “CEO”) of Live Nation, Inc. (the “Parent”), currently Michael Rapino.
The Employee agrees to abide by Live Nation’s rules, regulations and practices as adopted or
modified from time to time by Live Nation, including, without limitation, those set forth in Live
Nation’s Employee Handbook and its Code of Business Conduct and Ethics. The Employee will devote
the Employee’s full working time and efforts to the business and affairs of Live Nation. During
employment with Live Nation, the Employee shall not be employed elsewhere without the written
consent of Live Nation.

3. COMPENSATION AND BENEFITS

(a) Base Salary. Live Nation will pay the Employee an annual gross base salary of £300,000,
less appropriate payroll deductions. The Employee will be entitled to annual increases of 5% in
such annual gross base salary, with such increases to be effective as of January 1 during each year
of the Term beginning with January 1, 2009. All payments of base salary will be made in regular
installments in accordance with Live Nation’s payroll practices, UK PAYE deductions and prorated
monthly where appropriate.

(b) Performance Bonus. In 2007, the Employee will be eligible for an annual performance bonus
of $300,000 to be paid in a combination of cash and/or restricted stock, on terms and conditions to
be set and determined in writing by Live Nation. Beginning in 2008 and in each subsequent calendar
year of this Agreement, the Employee will be eligible for an annual performance bonus of 65% of his
annual base salary to be paid in a combination of cash, stock options and/or restricted stock, on
terms and conditions to be set and determined in writing by Live Nation for each calendar year.

(c) Retention Bonus. The parties acknowledge and agree that as of August 8, 2006, Live Nation
paid to the Employee £504,500, less applicable withholdings, as a retention bonus (the “Retention
Bonus”) and, pursuant to the related amendment to the Employee’s then-current employment agreement,
agreed as follows:

“This Retention Bonus will be offset against any Performance Bonus(es) subsequently
earned by the Employee under this Agreement. If the Employee is still employed with
the Company as of December 31, 2010 (the “Target Date”), any remaining Retention
Bonus that has not been so offset (“Unearned Portion of the Retention Bonus”) shall
be deemed earned by the Employee. If the Employee’s employment is terminated before
the Target Date, any remaining Unearned Portion of the Retention Bonus shall be
treated as follows: (i) if the Employee is terminated for Cause or terminates
without Good Reason, the Employee shall repay any Unearned Portion of the Retention
Bonus within ten (10) business days following termination; or (ii) if the Employee
is terminated (A) without Cause or (B) due to death or disability or if the Employee
terminates with Good Reason, the Employee shall be deemed to have earned any
(otherwise) Unearned Portion of the Retention Bonus. The Employee acknowledges that
the Retention Bonus shall be subject to withholding in accordance with the Company’s
ordinary payroll practices.”

The parties agree that this same provision is hereby incorporated into this Agreement and that
it remains in full force and effect, including, without limitation, the continued offsetting of the
Retention Bonus against any future performance bonuses that may be earned under Section 3(b) above
and the Employee’s obligation to repay any Unearned Portion of the Retention Bonus under the
circumstances specified above. Defined terms set forth in the provision above in this Section 3(c)
shall have the meanings ascribed to them in this Agreement, rather than in the prior amendment, and
to the extent not specifically defined herein shall be interpreted consistently with the defined
terms used in this Agreement.

(d) Employee Benefit Plans. The Employee will be entitled to participate in all group health,
hospitalization and disability or other insurance plans, paid vacation, sick leave and other
employee welfare benefit plans in which other similarly-situated employees of Live Nation may
participate as stated in Live Nation’s Employee Handbook and in accordance with the benefit plans
established by Live Nation, and as may be amended from time to time in Live Nation’s sole
discretion.

The Company shall, during the Term, contribute monthly at the rate of 10% per annum of the
Employee’s then-current annual base salary (the “Contributions”) into the Group Personal Pension
Plan (the “Pension Scheme”) for the benefit of the Employee.  The contributions payable by the
Employee shall be made by way of deduction from base salary.  For the avoidance of doubt, the
making of the Contributions shall be subject to the rules of the Pension Scheme as replaced or
amended from time to time (the “Rules”) including, without limitation, the Rule or Rules providing
for the discontinuance of the Pension Scheme and shall also be subject to any statutory limitations
on benefits or requirements for approval of pension schemes by the Inland Revenue as determined
from time to time.

There is no contracting-out certificate in force under the Social Security and Pensions Act
1975 (UK) in relation to the Employee’s employment.

The Employee shall, during the Term, and for so long as such cover is available on terms which
the CEO considers to be reasonable, be entitled to membership for him, his wife and unmarried
dependent children below the age of 21 (in full time education) of the Private Medical Scheme and
Live Nation shall contribute to such scheme so that the Employee shall be provided with benefits in
accordance with the terms of this scheme.

Providing the Employee joins the Pension Scheme, Live Nation shall, during the Term, provide
the Employee with life assurance cover at the rate of four (4) times the his annual base salary
subject to the rules of the Pension Scheme from time to time in force and to the Employee
continuing to be eligible to participate or benefit from the Pension Scheme.

(e) Vacation. The Employee will be eligible for 5 weeks paid vacation annually, subject to
the applicable policies, restrictions and conditions set forth in Live Nation’s Employee Handbook,
as may be amended from time to time.

(f) Expenses. Upon submission of proper documentation in accordance with Live Nation’s
expense reimbursement policies, Live Nation will pay or reimburse the Employee for all normal and
reasonable business expenses incurred by the Employee in connection with the Employee’s provision
of the Services.

(g) Relocation Expenses. Live Nation will pay for or reimburse the Employee for all
reasonable expenses relating to the Employee’s relocation of the Employee’s primary residence from
California to the United Kingdom.

4. NON-DISCLOSURE OF CONFIDENTIAL INFORMATION

During the course of the Employee’s employment with Live Nation, Live Nation will provide the
Employee with access to certain confidential information, trade secrets and other matters which are
of a confidential or proprietary nature, including, without limitation, Live Nation’s customer
lists, pricing information, production and cost data, compensation and fee information, strategic
business plans, budgets, financial statements, employment pay information and data and other
information Live Nation treats as confidential or proprietary (collectively, the “Confidential
Information”). Live Nation provides on an ongoing basis such Confidential Information as Live
Nation deems necessary or desirable to aid the Employee in the performance of the Employee’s
duties. The Employee understands and acknowledges that such Confidential Information is
confidential and proprietary, and agrees not to disclose such Confidential Information to anyone
outside Live Nation except to the extent that: (i) the Employee deems such disclosure or use
reasonably necessary or appropriate in connection with performing the Employee’s duties on behalf
of Live Nation; (ii) the Employee is required by order of a court of competent jurisdiction (by
subpoena or similar process) to disclose or discuss any Confidential Information, provided that in
such case, the Employee will promptly inform Live Nation of such event, will cooperate with Live
Nation in attempting to obtain a protective order or to otherwise restrict such disclosure and will
only disclose Confidential Information to the minimum extent necessary to comply with any such
court order; or (iii) such Confidential Information becomes generally known to and available for
use in the industries in which Live Nation does business, other than as a result of any action or
inaction by the Employee.

The Employee further agrees that the Employee will not during employment and/or at any time
thereafter use such Confidential Information for any purpose, including, without limitation,
competing, directly or indirectly, with Live Nation. The Employee agrees that any confidential or
proprietary information and materials the Employee receives from third parties relating to the
Employee’s employment with Live Nation shall be deemed “Confidential Information” for all purposes
of this Agreement and will be subject to all limitations on use and disclosure set forth in this
Agreement, and the Employee will not use or disclose any such information and materials in any
manner inconsistent with any of Live Nation’s obligations towards such third party. At such time
as the Employee ceases to be employed by Live Nation, the Employee will immediately turn over to
Live Nation all Confidential Information, including papers, documents, writings, electronically
stored information, other property and all copies of them, provided to or created by the Employee
during the course of the Employee’s employment with Live Nation.

5. NON-SOLICITATION AND NON-HIRE OF LIVE NATION EMPLOYEES

To further preserve the rights of Live Nation pursuant to the non-disclosure covenant above,
and for the consideration promised by Live Nation under this Agreement, during the Employee’s
employment with Live Nation and for a period of 12 months following the termination of the
Employee’s employment with Live Nation for any reason, the Employee will not, directly or
indirectly: (i) hire any current Live Nation employee or any former Live Nation employee within six
months of the termination of that individual’s employment with Live Nation (“Current or Former
Employee”); (ii) solicit or encourage any current employee to terminate his or her employment with
Live Nation; (iii) solicit or encourage any Current or Former Employee to accept employment with
any business, person or entity with which the Employee may be associated; or (iv) encourage or
assist in any way any such business, person or entity from taking any action which the Employee
could not take individually under this Section 5, including, without limitation, identifying any
Current or Former Employee as a potential candidate for employment therewith.

6. NON-COMPETITION

To further preserve the rights of Live Nation pursuant to the non-disclosure covenant above,
and for the consideration promised by Live Nation under this Agreement, during the Employee’s
employment with Live Nation, the Employee will not, directly or indirectly, including, without
limitation, as an owner, director, principal, agent, officer, employee, partner, consultant or
otherwise, carry on, operate, manage, control or become involved in any manner with any business,
operation, corporation, partnership, association, agency or other person or entity which is in the
same business as Live Nation in any location in which Live Nation operates or has projected to
operate during the Employee’s employment with Live Nation, including any area within a 50-mile
radius of any such location. The foregoing shall not prohibit the Employee from owning up to 5% of
the outstanding capital stock of any publicly-held company.

To further preserve the rights of Live Nation pursuant to the non-disclosure covenant above,
and for the consideration promised by Live Nation under this Agreement, during the Employee’s
employment with Live Nation, the Employee will not, directly or indirectly, either for the Employee
or for any other business, operation, corporation, partnership, association, agency or other person
or entity, call upon, compete for, solicit, divert, take away, or attempt to divert or take away,
current or prospective customers of Live Nation, including, without limitation, any customer: (i)
with whom Live Nation has an existing agreement or business relationship; or (ii) with whom Live
Nation has had an agreement or business relationship within the six-month period preceding the
Employee’s last day of employment with Live Nation.

Live Nation and the Employee agree that the restrictions contained in this non-competition
covenant are reasonable in scope and duration and are necessary to protect Live Nation’s business
interests and Confidential Information. If any provision of this non-competition covenant as
applied to any party or to any circumstance is judged by a court or arbitrator to be invalid or
unenforceable, the same will in no way affect the validity or enforceability of this Agreement. If
any such provision of this non-competition covenant, or any part thereof, is held to be
unenforceable because of the scope, duration or geographic area covered thereby, the parties agree
that the court or arbitrator making such determination will have the power to reduce the scope
and/or duration and/or geographic area of such provision, and/or to delete specific words or
phrases, and in its reduced form, such provision shall then be enforceable and shall be enforced.

The parties acknowledge and agree that any breach of this non-competition covenant will cause
irreparable damage to Live Nation, and upon any such breach of any provision of this
non-competition covenant, Live Nation shall be entitled to injunctive relief, specific performance
or other equitable relief; provided, however, that this shall in no way limit any other remedies
which Live Nation may have (including, without limitation, the right to seek monetary damages).
Should the Employee violate any provision of this non-competition covenant, then, in addition to
all other rights and remedies available to Live Nation at law or in equity, the duration of this
covenant shall automatically be extended for the period of time from which the Employee began such
violation until the Employee permanently ceases such violation.

7. TERMINATION

The Employee’s employment with Live Nation may be terminated under the following
circumstances:

(a) Termination upon Death. The Employee’s employment with Live Nation will terminate upon
the Employee’s death.

(b) Termination upon Disability. Live Nation may terminate the Employee’s employment with
Live Nation if, as a result of the Employee’s incapacity due to physical or mental illness, the
Employee is unable to perform the Services under this Agreement on a full-time basis for more than
90 days in any 12-month period, as determined by Live Nation.

(c) Termination by Live Nation. Live Nation may terminate the Employee’s employment with Live
Nation for any reason at any time, with or without notice. Live Nation may also terminate the
Employee’s employment for “Cause.” A termination for Cause must be for one or more of the
following reasons: (i) continued non-performance by the Employee of the Employee’s duties hereunder
(other than by reason of the Employee’s physical or mental illness, incapacity or disability) where
such non-performance has continued for more than 30 days following notice of such non-performance;
(ii) the Employee’s refusal or failure to follow lawful directives where such refusal or failure
has continued for more than 30 days following written notice of such refusal or failure; (iii) a
criminal or civil conviction of the Employee, a plea of nolo contendere by the Employee or other
conduct by the Employee that, as determined in the sole discretion of Live Nation, has resulted in,
or would reasonably be expected to result in if the Employee were retained in the Employee’s
position with Live Nation, material injury to the reputation of Live Nation, including, without
limitation, conviction of fraud, theft, embezzlement or a crime involving moral turpitude; (iv) a
breach by the Employee of any provision of this Agreement; (v) conduct by the Employee constituting
a material act of misconduct in connection with the performance of the Employee’s duties,
including, without limitation, violation of Live Nation’s policy on sexual harassment,
misappropriation of funds or property of Live Nation other than the occasional, customary and de
minimis use of Live Nation property for personal purposes, or any other act of misconduct as
determined in the sole discretion of Live Nation; or (vi) a violation by the Employee of Live
Nation’s employment policies, including, without limitation, those set forth in Live Nation’s
Employee Handbook or Live Nation’s Code of Business Conduct and Ethics.

(d) Termination by the Employee for Good Reason. The Employee may terminate this Agreement at
any time for “Good Reason,” which is defined as any one of the following: (i) a repeated failure of
Live Nation to comply with a material term of this Agreement; (ii) a substantial and unusual
increase in the Employee’s duties and responsibilities without an offer of additional reasonable
compensation as determined by Live Nation in light of compensation levels for similarly-situated
employees; or (iii) a substantial and unusual reduction in the Employee’s duties and
responsibilities. Prior to the Employee’s termination of this Agreement for Good Reason under (i),
(ii) or (iii) above, the Employee must provide Live Nation with 30 days advance written notice in
which Live Nation may resolve the issue.

(e) Other Termination by the Employee. The Employee may terminate the Employee’s employment
with Live Nation for any reason at any time upon 90 days prior written notice to Live Nation.
Notwithstanding the foregoing, if the Employee terminates under this Section 7(e), Live Nation will
not be required to continue employment during the notice period and may determine an earlier date
on which the Employee’s employment will end.

8. COMPENSATION UPON TERMINATION

(a) Termination upon Death. If the Employee’s employment with Live Nation terminates by
reason of the Employee’s death, Live Nation will, within 30 days of such termination, pay to such
person as the Employee may designate or, if no such person is designated, to the Employee’s estate
in a lump sum amount the Employee’s accrued and unpaid base salary, prorated bonus, if any,
unreimbursed expenses and any payments to which the Employee’s spouse, beneficiaries or estate may
be entitled under any applicable employee benefit plan (collectively, “Benefit Payments”).

(b) Termination upon Disability. If the Employee’s employment with Live Nation terminates by
reason of the Employee’s disability, Live Nation will, within 30 days of such termination, pay to
the Employee in a lump sum amount the Employee’s accrued and unpaid base salary, prorated bonus, if
any, unreimbursed expenses and any Benefit Payments.

(c) Termination by Live Nation for Cause. If the Employee’s employment with Live Nation is
terminated by Live Nation for Cause, Live Nation will, within 30 days of such termination, pay to
the Employee in a lump sum amount the Employee’s accrued and unpaid base salary, unreimbursed
expenses and any Benefit Payments.

(d) Termination by Live Nation Without Cause or Termination by the Employee for Good Reason.
If the Employee’s employment with Live Nation is terminated by Live Nation without Cause, or by the
Employee for Good Reason, Live Nation will, within 30 days of such termination, pay to the Employee
in a lump sum amount the Employee’s accrued and unpaid base salary, prorated bonus, if any,
unreimbursed expenses and any Benefit Payments. In addition, if the Employee signs a general
release of claims in a form and manner satisfactory to Live Nation, Live Nation will, within 90
days, pay to the Employee in a lump sum amount the Employee’s monthly base salary for the greater
of (i) 12 months or (ii) the remainder of the Term.

In addition, for purposes of this Section 8(d), the vesting acceleration, if any, of each
equity award outstanding at the date of termination (i.e., a stock option, restricted stock,
restricted stock unit or other stock-based award) granted to the Employee by Live Nation shall be
determined by comparing each such award to the “Deemed Vesting Schedule.” For purposes of this
Section 8(d), the “Deemed Vesting Schedule” shall mean that 20% of the shares or units subject to
an equity award shall vest (or any restrictions subject to such equity award shall lapse) on each
of the first through fifth anniversaries of the date of grant of such award. If applying the
Deemed Vesting Schedule to an outstanding equity award results in the Employee holding a greater
number of vested shares or units as of the date of termination than had the original vesting
schedule applied, the Deemed Vesting Schedule shall apply as if in effect from the date of grant
through such date of termination. As a result of the application of the previous sentence, the
vesting of the outstanding equity award will accelerate with respect to the number of shares or
units equal to the number of shares or units that would vest through the date of termination under
the Deemed Vesting Schedule that exceeds the number of shares or units that would vest through the
date of termination under the original vesting schedule. If the application of the original
vesting schedule results in the Employee holding a greater number of vested shares or units as of
the date of termination than had the Deemed Vesting Schedule applied, no vesting acceleration under
this Section 8(d) shall apply to such outstanding equity award. The determination of any vesting
acceleration shall be made with respect to each individual equity award and shall be subject to the
approval of the Compensation Committee of the Board of Directors of the Parent.

(e) Effect of Compliance with Compensation upon Termination Provisions. Upon complying with
Sections 8(a) through 8(d) above, as applicable, Live Nation will have no further obligations to
the Employee except as otherwise expressly provided under this Agreement, provided that such
compliance will not adversely affect or alter the Employee’s rights under any employee benefit plan
of Live Nation in which the Employee has a vested interest, unless otherwise provided in such
employee benefit plan or any agreement or other instrument attendant thereto.

9. PARTIES BENEFITED; ASSIGNMENTS

This Agreement shall be binding upon the Employee, the Employee’s heirs and the Employee’s
personal representative or representatives, and upon Live Nation and its respective successors and
assigns. Neither this Agreement nor any rights or obligations hereunder may be assigned by the
Employee, other than by will or by the laws of descent and distribution.

10. GOVERNING LAW; VENUE

This Agreement shall be governed by English law and for the benefit of Live Nation, the
Employee hereby submits to the exclusive jurisdiction of the English Courts. The Employee hereby
agrees that service upon the Employee at his address specified in this Agreement or such other
address as he may notify to Live Nation in writing of any proceedings relating to this Agreement or
to any document entered into pursuant hereto shall constitute good service upon the Employee.

11. DEFINITION OF LIVE NATION

As used in this Agreement, the term “Live Nation” includes Live Nation Music (UK) Limited and
any of its past, present and future divisions, operating companies, parent entities, subsidiaries
and affiliates.

12. LITIGATION AND REGULATORY COOPERATION

During and after the Employee’s employment, the Employee will reasonably cooperate with Live
Nation in the defense or prosecution of any claims or actions now in existence or which may be
brought in the future against or on behalf of Live Nation which relate to events or occurrences
that transpired while the Employee was employed by Live Nation; provided, however, that such
cooperation shall not materially and adversely affect the Employee or expose the Employee to an
increased probability of civil or criminal litigation. The Employee’s cooperation in connection
with such claims or actions shall include, without limitation, being available to meet with counsel
to prepare for discovery or trial and to act as a witness on behalf of Live Nation at mutually
convenient times. During and after the Employee’s employment, the Employee also shall cooperate
fully with Live Nation in connection with any investigation or review of any federal, state or
local regulatory authority as any such investigation or review relates to events or occurrences
that transpired while the Employee was employed by Live Nation. Live Nation will pay the Employee
on an hourly basis (to be derived from the Employee’s most recent base salary) for requested
litigation and regulatory cooperation that occurs after the Employee’s termination of employment,
and will reimburse the Employee for all costs and expenses incurred in connection with the
Employee’s performance under this Section 12, including, without limitation, reasonable attorneys’
fees and costs.

13. REPRESENTATIONS AND WARRANTIES OF THE EMPLOYEE

The Employee represents and warrants to Live Nation that: (i) the Employee is under no
contractual or other restriction which is inconsistent with the execution of this Agreement, the
performance of the Employee’s duties hereunder or the other rights of Live Nation hereunder; (ii)
the Employee is under no physical or mental disability that would hinder the performance of the
Employee’s duties under this Agreement; (iii) the Employee’s execution of this Agreement and
performance of the Services under this Agreement will not violate any obligations that the Employee
may have to any other or former employer, person or entity, including any obligations to keep in
confidence proprietary information, knowledge or data acquired by the Employee in confidence or in
trust prior to becoming an employee of Live Nation. The Employee further represents, warrants and
covenants that the Employee will not disclose to Live Nation, or use in connection with the
Employee’s activities as an employee of Live Nation, or induce Live Nation to use, any proprietary
or confidential information or trade secrets of the Employee or any third party at any time,
including, without limitation, any proprietary, confidential information or trade secrets of any
former employer.

14. MISCELLANEOUS

This Agreement contains the entire agreement of the parties relating to the subject matter
hereof. This Agreement supersedes any prior written or oral agreements or understandings between
the parties relating to the subject matter hereof. No modification or amendment of this Agreement
shall be valid unless in writing and signed by Live Nation and the Employee. The failure of a
party to require performance of any provision of this Agreement shall in no manner affect the right
of such party at a later time to enforce any provision of this Agreement. A waiver of the breach
of any term or condition of this Agreement shall not be deemed to constitute a waiver of any
subsequent breach of the same or any other term or condition. This Agreement is intended to be
performed in accordance with, and only to the extent permitted by, all applicable laws, ordinances,
rules and regulations. If any provision of this Agreement, or the application thereof to any
person or circumstance, shall, for any reason and to any extent, be held invalid or unenforceable,
such invalidity and unenforceability shall not affect the remaining provisions hereof or the
application of such provisions to other persons or circumstances, all of which shall be enforced to
the greatest extent permitted by law. The headings in this Agreement are inserted for convenience
of reference only and shall not be a part of, or control or affect the meaning of, any provision
hereof. This Agreement shall not be construed against any party on the grounds that such party
drafted this Agreement.

[Remainder of Page Intentionally Left Blank]

1

THE EMPLOYEE ACKNOWLEDGES THAT THE EMPLOYEE HAS HAD THE OPPORTUNITY TO CONSULT LEGAL COUNSEL
CONCERNING THIS AGREEMENT, THAT THE EMPLOYEE HAS READ AND UNDERSTANDS THIS AGREEMENT, THAT THE
EMPLOYEE IS FULLY AWARE OF ITS LEGAL EFFECT AND THAT THE EMPLOYEE HAS ENTERED INTO IT FREELY BASED
ON THE EMPLOYEE’S OWN JUDGMENT AND NOT ON ANY REPRESENTATIONS OR PROMISES OTHER THAN THOSE
CONTAINED IN THIS AGREEMENT.

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

THE EMPLOYEE

	 	 	 	 	 	 	 
	Date: 23/8/07

	 	 	 	/s/ Alan Ridgeway
	 	

	 	 	 	 	 
	
 
	 	 	 	Alan B. Ridgeway
	 	

	 	 	 	 	LIVE NATION MUSIC (UK) LIMITED
	Date: 23/08/07

	 	By:
	 	/s/ P. Gray
	 	

	 	 	 	 	 
	
 
	 	 	 	Name:

Title:
	 	P. Gray

HR Director

[Signature Page to Employment Agreement]

2EX-10.2

EXHIBIT 10.2

EMPLOYMENT AGREEMENT

This Employment Agreement (this “Agreement”) is effective the 1st day of September, 2007 (the
“Effective Date”) by and between Live Nation Worldwide, Inc., a Delaware corporation (“Live
Nation”), and Elizabeth K. (Kathy) Willard (the “Employee”).

WHEREAS, Live Nation and the Employee desire to enter into an employment relationship under
the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements included in this
Agreement and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties, intending to be legally bound, agree as follows:

1. TERM OF EMPLOYMENT

The Employee’s term of employment starts on the Effective Date and ends on the close of
business on December 31, 2010, unless terminated earlier pursuant to the terms set forth in Section
7 below (the “Term”). Beginning on January 1, 2010 and continuing for so long thereafter as the
Employee is employed hereunder, the Employee’s employment term shall be automatically extended day
to day so that there will always be exactly 12 months remaining in the term of employment, unless
either party terminates this Agreement in accordance with Section 7 below.

2. TITLE AND DUTIES; EXCLUSIVE SERVICES

The Employee’s title is Executive Vice President and Chief Financial Officer. The Employee
will perform such job duties that are usual and customary for this position, and will perform such
additional services and duties that Live Nation may from time to time designate that are consistent
with the usual and customary duties of this position (the “Services”). The Employee will report to
the President and Chief Executive Officer of Live Nation, Inc. (the “Parent”), currently Michael
Rapino. The Employee agrees to abide by Live Nation’s rules, regulations and practices as adopted
or modified from time to time by Live Nation, including, without limitation, those set forth in
Live Nation’s Employee Handbook and its Code of Business Conduct and Ethics. The Employee will
devote the Employee’s full working time and efforts to the business and affairs of Live Nation.
During employment with Live Nation, the Employee shall not be employed elsewhere without the
written consent of Live Nation.

3. COMPENSATION AND BENEFITS

(a) Base Salary. Live Nation will pay the Employee an annual gross base salary of $465,000,
less appropriate payroll deductions. Beginning on January 1, 2008, the Employee’s annual gross
base salary will be increased to $475,000. The Employee will then be entitled to annual increases
of 5% in such annual gross base salary, with such increases to be effective as of January 1 during
each year of the Term beginning with January 1, 2009. All payments of base salary will be made in
regular installments in accordance with Live Nation’s payroll practices, prorated monthly or weekly
where appropriate.

(b) Performance Bonus. Beginning in 2007 and in each subsequent calendar year of this
Agreement, the Employee will be eligible for an annual performance bonus of $300,000 to be paid in
a combination of cash, stock grants, stock options and/or restricted stock, on terms and conditions
to be set and determined in writing by Live Nation for each calendar year.

(c) Employee Benefit Plans. The Employee will be entitled to participate in all retirement
plans, incentive compensation plans, group health, hospitalization and disability or other
insurance plans, paid vacation, sick leave and other employee welfare benefit plans in which other
similarly-situated employees of Live Nation may participate as stated in Live Nation’s Employee
Handbook and in accordance with the benefit plans established by Live Nation, and as may be amended
from time to time in Live Nation’s sole discretion.

(d) Vacation. The Employee will be eligible for 5 weeks paid vacation annually, subject to
the applicable policies, restrictions and conditions set forth in Live Nation’s Employee Handbook,
as may be amended from time to time.

(e) Expenses. Upon submission of proper documentation in accordance with Live Nation’s
expense reimbursement policies, Live Nation will pay or reimburse the Employee for all normal and
reasonable business expenses incurred by the Employee in connection with the Employee’s provision
of the Services.

(f) Relocation Expenses. Live Nation will pay for or reimburse the Employee for all
reasonable expenses relating to the Employee’s relocation of the Employee’s primary residence from
Texas to California. Such relocation expenses will include: moving of all household goods, cars
and pets; transportation costs for the Employee and her family; house-hunting trips for the
Employee and her spouse; payment of closing costs related to the sale of the Employee’s primary
residence in Houston, Texas; payment of closing costs related to the purchase of the Employee’s
primary residence in the Los Angeles, California metropolitan area; temporary housing and rental
car for up to 6 months; storage costs for up to 12 months; and, such other reasonable expenses as
may be required. Such expense reimbursements are to be grossed up for applicable taxes.

(g) Stock Options/Restricted Stock.  Live Nation will, within 90 days of the date of the full
execution this Agreement, recommend to the Compensation Committee (the “Committee”) of the Board of
Directors (the “Board”) of the Parent that the Employee be granted (i) stock options to purchase
20,000 shares of Live Nation, Inc. common stock and (ii) 60,000 restricted shares of Live Nation,
Inc. common stock, with vesting of such grants to be ratable over a four (4) year period. Any
future stock option grants (or similar equity compensation) will be granted based on the
performance of the Employee, which will be assessed in the sole discretion of Live Nation and the
Committee; provided, however, that the Employee shall be considered for any such grants in
proportion to grants made to similarly-situated senior executives. All such grants shall: (i) be
made in the sole and absolute discretion of the Committee; (ii) be made under the terms and
conditions set forth in the applicable equity incentive plan and stock option or restricted stock
agreement under which they are issued; and (iii) in the case of the stock option grant, have a
strike price equal to the closing price of the Parent’s common stock listed on the New York Stock
Exchange on the date of the grant.

4. NON-DISCLOSURE OF CONFIDENTIAL INFORMATION

During the course of the Employee’s employment with Live Nation, Live Nation will provide the
Employee with access to certain confidential information, trade secrets and other matters which are
of a confidential or proprietary nature, including, without limitation, Live Nation’s customer
lists, pricing information, production and cost data, compensation and fee information, strategic
business plans, budgets, financial statements, employment pay information and data and other
information Live Nation treats as confidential or proprietary (collectively, the “Confidential
Information”). Live Nation provides on an ongoing basis such Confidential Information as Live
Nation deems necessary or desirable to aid the Employee in the performance of the Employee’s
duties. The Employee understands and acknowledges that such Confidential Information is
confidential and proprietary, and agrees not to disclose such Confidential Information to anyone
outside Live Nation except to the extent that: (i) the Employee deems such disclosure or use
reasonably necessary or appropriate in connection with performing the Employee’s duties on behalf
of Live Nation; (ii) the Employee is required by order of a court of competent jurisdiction (by
subpoena or similar process) to disclose or discuss any Confidential Information, provided that in
such case, the Employee will promptly inform Live Nation of such event, will cooperate with Live
Nation in attempting to obtain a protective order or to otherwise restrict such disclosure and will
only disclose Confidential Information to the minimum extent necessary to comply with any such
court order; or (iii) such Confidential Information becomes generally known to and available for
use in the industries in which Live Nation does business, other than as a result of any action or
inaction by the Employee.

The Employee further agrees that the Employee will not during employment and/or at any time
thereafter use such Confidential Information for any purpose, including, without limitation,
competing, directly or indirectly, with Live Nation. The Employee agrees that any confidential or
proprietary information and materials the Employee receives from third parties relating to the
Employee’s employment with Live Nation shall be deemed “Confidential Information” for all purposes
of this Agreement and will be subject to all limitations on use and disclosure set forth in this
Agreement, and the Employee will not use or disclose any such information and materials in any
manner inconsistent with any of Live Nation’s obligations towards such third party. At such time
as the Employee ceases to be employed by Live Nation, the Employee will immediately turn over to
Live Nation all Confidential Information, including papers, documents, writings, electronically
stored information, other property and all copies of them, provided to or created by the Employee
during the course of the Employee’s employment with Live Nation.

5. NON-SOLICITATION AND NON-HIRE OF LIVE NATION EMPLOYEES

To further preserve the rights of Live Nation pursuant to the non-disclosure covenant above,
and for the consideration promised by Live Nation under this Agreement, during the Employee’s
employment with Live Nation and for a period of 12 months following the termination of the
Employee’s employment with Live Nation for any reason, the Employee will not, directly or
indirectly: (i) hire any current Live Nation employee or any former Live Nation employee within six
months of the termination of that individual’s employment with Live Nation (“Current or Former
Employee”); (ii) solicit or encourage any current employee to terminate his or her employment with
Live Nation; (iii) solicit or encourage any Current or Former Employee to accept employment with
any business, person or entity with which the Employee may be associated; or (iv) encourage or
assist in any way any such business, person or entity from taking any action which the Employee
could not take individually under this Section 5, including, without limitation, identifying any
Current or Former Employee as a potential candidate for employment therewith.

6. NON-COMPETITION

To further preserve the rights of Live Nation pursuant to the non-disclosure covenant above,
and for the consideration promised by Live Nation under this Agreement, during the Employee’s
employment with Live Nation, the Employee will not, directly or indirectly, including, without
limitation, as an owner, director, principal, agent, officer, employee, partner, consultant or
otherwise, carry on, operate, manage, control or become involved in any manner with any business,
operation, corporation, partnership, association, agency or other person or entity which is in the
same business as Live Nation in any location in which Live Nation operates or has projected to
operate during the Employee’s employment with Live Nation, including any area within a 50-mile
radius of any such location. The foregoing shall not prohibit the Employee from owning up to 5% of
the outstanding capital stock of any publicly-held company.

To further preserve the rights of Live Nation pursuant to the non-disclosure covenant above,
and for the consideration promised by Live Nation under this Agreement, during the Employee’s
employment with Live Nation, the Employee will not, directly or indirectly, either for the Employee
or for any other business, operation, corporation, partnership, association, agency or other person
or entity, call upon, compete for, solicit, divert, take away, or attempt to divert or take away,
current or prospective customers of Live Nation, including, without limitation, any customer: (i)
with whom Live Nation has an existing agreement or business relationship; or (ii) with whom Live
Nation has had an agreement or business relationship within the six-month period preceding the
Employee’s last day of employment with Live Nation.

Live Nation and the Employee agree that the restrictions contained in this non-competition
covenant are reasonable in scope and duration and are necessary to protect Live Nation’s business
interests and Confidential Information. If any provision of this non-competition covenant as
applied to any party or to any circumstance is judged by a court or arbitrator to be invalid or
unenforceable, the same will in no way affect the validity or enforceability of this Agreement. If
any such provision of this non-competition covenant, or any part thereof, is held to be
unenforceable because of the scope, duration or geographic area covered thereby, the parties agree
that the court or arbitrator making such determination will have the power to reduce the scope
and/or duration and/or geographic area of such provision, and/or to delete specific words or
phrases, and in its reduced form, such provision shall then be enforceable and shall be enforced.

The parties acknowledge and agree that any breach of this non-competition covenant will cause
irreparable damage to Live Nation, and upon any such breach of any provision of this
non-competition covenant, Live Nation shall be entitled to injunctive relief, specific performance
or other equitable relief; provided, however, that this shall in no way limit any other remedies
which Live Nation may have (including, without limitation, the right to seek monetary damages).
Should the Employee violate any provision of this non-competition covenant, then, in addition to
all other rights and remedies available to Live Nation at law or in equity, the duration of this
covenant shall automatically be extended for the period of time from which the Employee began such
violation until the Employee permanently ceases such violation.

7. TERMINATION

The Employee’s employment with Live Nation may be terminated under the following
circumstances:

(a) Termination upon Death. The Employee’s employment with Live Nation will terminate upon
the Employee’s death.

(b) Termination upon Disability. Subject to the reasonable accommodation provision of the
Americans with Disabilities Act and any California state law accommodation duty, Live Nation may
terminate the Employee’s employment with Live Nation if, as a result of the Employee’s incapacity
due to physical or mental illness, the Employee is unable to perform the Services under this
Agreement on a full-time basis for more than 90 days in any 12-month period, as determined by Live
Nation.

(c) Termination by Live Nation. Live Nation may terminate the Employee’s employment with Live
Nation for any reason at any time, with or without notice. Live Nation may also terminate the
Employee’s employment for “Cause.” A termination for Cause must be for one or more of the
following reasons: (i) continued non-performance by the Employee of the Employee’s duties hereunder
(other than by reason of the Employee’s physical or mental illness, incapacity or disability); (ii)
the Employee’s refusal or failure to follow lawful directives; (iii) a criminal conviction of the
Employee, a plea of nolo contendere by the Employee or other conduct by the Employee that, as
determined in the sole discretion of Live Nation, has resulted in, or would reasonably be expected
to result in if the Employee were retained in the Employee’s position with Live Nation, material
injury to the reputation of Live Nation, including, without limitation, conviction of fraud, theft,
embezzlement or a crime involving moral turpitude; (iv) a breach by the Employee of any material
term of this Agreement; (v) conduct by the Employee constituting a material act of misconduct in
connection with the performance of the Employee’s duties, including, without limitation, violation
of Live Nation’s policy on sexual harassment, misappropriation of funds or property of Live Nation
other than the occasional, customary and de minimis use of Live Nation property for personal
purposes; or (vi) a violation by the Employee of Live Nation’s employment policies, including,
without limitation, those set forth in Live Nation’s Employee Handbook or Live Nation’s Code of
Business Conduct and Ethics. Prior to Live Nation’s termination of this Agreement for Cause under
(i), (ii), (iii), (iv), (v) or (vi) above, Live Nation must provide the Employee with 30 days
advance written notice in which the Employee may attempt to resolve the issue.

(d) Termination by the Employee for Good Reason. The Employee may terminate this Agreement at
any time for “Good Reason,” which is defined as any one of the following: (i) the failure of Live
Nation to comply with a material term of this Agreement; (ii) a substantial and unusual increase in
the Employee’s duties and responsibilities without an offer of additional reasonable compensation
as determined by Live Nation in light of compensation levels for similarly-situated employees; or
(iii) a substantial and unusual reduction in the Employee’s duties, responsibilities and/or
compensation. Prior to the Employee’s termination of this Agreement for Good Reason under (i),
(ii) or (iii) above, the Employee must provide Live Nation with 30 days advance written notice in
which Live Nation may attempt to resolve the issue.

(e) Other Termination by the Employee. The Employee may terminate the Employee’s employment
with Live Nation for any reason at any time upon 90 days prior written notice to Live Nation.
Notwithstanding the foregoing, if the Employee terminates under this Section 7(e), Live Nation will
not be required to continue employment during the notice period and may determine an earlier date
on which the Employee’s employment will end.

8. COMPENSATION UPON TERMINATION

(a) Termination upon Death. If the Employee’s employment with Live Nation terminates by
reason of the Employee’s death, Live Nation will, within 30 days of such termination, pay to such
person as the Employee may designate or, if no such person is designated, to the Employee’s estate
in a lump sum amount the Employee’s accrued and unpaid base salary, prorated bonus, if any,
unreimbursed expenses and any payments to which the Employee’s spouse, beneficiaries or estate may
be entitled under any applicable employee benefit plan (collectively, “Benefit Payments”).

(b) Termination upon Disability. If the Employee’s employment with Live Nation terminates by
reason of the Employee’s disability, Live Nation will, within 30 days of such termination, pay to
the Employee in a lump sum amount the Employee’s accrued and unpaid base salary, prorated bonus, if
any, unreimbursed expenses and any Benefit Payments.

(c) Termination by Live Nation for Cause. If the Employee’s employment with Live Nation is
terminated by Live Nation for Cause, Live Nation will, within 30 days of such termination, pay to
the Employee in a lump sum amount the Employee’s accrued and unpaid base salary, unreimbursed
expenses and any Benefit Payments.

(d) Termination by Live Nation Without Cause or Termination by the Employee for Good Reason.
If the Employee’s employment with Live Nation is terminated by Live Nation without Cause, or by the
Employee for Good Reason, Live Nation will, within 30 days of such termination, pay to the Employee
in a lump sum amount the Employee’s accrued and unpaid base salary, prorated bonus, if any,
unreimbursed expenses and any Benefit Payments. In addition, if the Employee signs a general
release of claims in a form and manner satisfactory to Live Nation, Live Nation will, within 90
days, pay to the Employee in a lump sum amount the Employee’s highest monthly base salary for the
greater of (i) 12 months or (ii) the remainder of the Term.

In addition, in the event the Employee’s employment with Live Nation is terminated by Live
Nation without Cause, or by the Employee for Good Reason, for a period of up to 12 months after the
Employee’s relocation to Los Angeles, Live Nation will reimburse the Employee for all reasonable
expenses relating to the Employee’s relocation of the Employee’s primary residence from California
to the Midwest. Such relocation expenses will include: moving of all household goods, cars and
pets; transportation costs for the Employee and her family; payment of closing costs related to
sale of the Employee’s primary residence in the Los Angeles metropolitan area; and, such other
reasonable expenses as may be required. Such expense reimbursements are to be grossed up for
applicable taxes. The amount of any severance pay provided to the Employee under this Section
8(d) will not be offset against any amount claimed to be owed by the Employee to Live Nation.

In addition, for purposes of this Section 8(d), the vesting acceleration, if any, of each
equity award outstanding at the date of termination (i.e., a stock option, restricted stock,
restricted stock unit or other stock-based award) granted to the Employee by Live Nation shall be
determined by comparing each such award to the “Deemed Vesting Schedule.” For purposes of this
Section 8(d), the “Deemed Vesting Schedule” shall mean that 20% of the shares or units subject to
an equity award shall vest (or any restrictions subject to such equity award shall lapse) on each
of the first through fifth anniversaries of the date of grant of such award. If applying the
Deemed Vesting Schedule to an outstanding equity award results in the Employee holding a greater
number of vested shares or units as of the date of termination than had the original vesting
schedule applied, the Deemed Vesting Schedule shall apply as if in effect from the date of grant
through such date of termination. As a result of the application of the previous sentence, the
vesting of the outstanding equity award will accelerate with respect to the number of shares or
units equal to the number of shares or units that would vest through the date of termination under
the Deemed Vesting Schedule that exceeds the number of shares or units that would vest through the
date of termination under the original vesting schedule. If the application of the original
vesting schedule results in the Employee holding a greater number of vested shares or units as of
the date of termination than had the Deemed Vesting Schedule applied, no vesting acceleration under
this Section 8(d) shall apply to such outstanding equity award. The determination of any vesting
acceleration shall be made with respect to each individual equity award and shall be subject to the
approval of the Committee.

(e) Effect of Compliance with Compensation upon Termination Provisions. Upon complying with
Sections 8(a) through 8(d) above, as applicable, Live Nation will have no further obligations to
the Employee except as otherwise expressly provided under this Agreement, provided that such
compliance will not adversely affect or alter the Employee’s rights under any employee benefit plan
of Live Nation in which the Employee has a vested interest, unless otherwise provided in such
employee benefit plan or any agreement or other instrument attendant thereto.

(f) Delayed Payments. In the event that Section 409A (“409A”) of the Internal Revenue Code of
1986, as amended (the “Code”), applies to any compensation with respect to the Employee’s
termination, payment of that compensation shall be delayed if the Employee is determined to be a
“specified employee,” as defined in 409A(a)(2)(B)(i), and such delayed payment is required by 409A.
Such delay shall last six months from the date of the Employee’s termination. Within 30 days
following the end of such six-month period, Live Nation will make a catch-up payment to the
Employee equal to the total amount of such payments that would have been made during the 6 month
period but for this Section 8(f).

9. CHANGE OF CONTROL

In the event of a “Change of Control,” any stock options, restricted stock or similar equity
incentive grants in the Parent that are outstanding on the date of such Change of Control shall
become immediately and fully exercisable in accordance with the terms and conditions set forth in
the applicable plan under which they are issued. For purposes of this Agreement, “Change of
Control” means: (i) any “person,” as such term is used in Sections 3(a)(9) and 13(d) of the
Securities and Exchange Act of 1934, as amended (other than the Employee or entities controlled by
the Employee), becomes a beneficial owner of 50% or more of the voting power of the Parent; (ii)
all or substantially all of the business or assets of the Parent are disposed of pursuant to a
merger, consolidation, sale or other transaction (unless the stockholders of the Parent,
immediately prior to such merger, consolidation, sale or other transaction, beneficially own,
directly or indirectly, in substantially the same proportion as they owned the voting power of the
Parent, all of the voting power or other ownership interests of the entity or entities, if any,
that succeed to the business of the Parent); (iii) the Parent combines with another company and,
immediately after such combination, (A) the stockholders of the Parent immediately prior to the
combination do not hold, directly or indirectly, more than 50% of the voting power of the combined
company or (B) the members of the Board immediately prior to the Board’s approval of the
transaction do not constitute a majority of the combined company’s board of directors; or (iv) the
liquidation or dissolution of the Parent.

10. PARTIES BENEFITED; ASSIGNMENTS

This Agreement shall be binding upon the Employee, the Employee’s heirs and the Employee’s
personal representative or representatives, and upon Live Nation and its respective successors and
assigns. Neither this Agreement nor any rights or obligations hereunder may be assigned by the
Employee, other than by will or by the laws of descent and distribution.

11. GOVERNING LAW; VENUE

This Agreement shall be governed by and construed in accordance with the internal laws of the
State of California without giving effect to any choice of law or conflict provisions or rule
(whether of the State of California or any other jurisdiction) that would cause the application of
the laws of any jurisdiction other than the State of California and the Employee hereby expressly
consents to the personal jurisdiction of the state and federal courts located in Los Angeles,
California for any lawsuit arising from or relating to this Agreement.

12. DEFINITION OF LIVE NATION

As used in this Agreement, the term “Live Nation” includes Live Nation Worldwide, Inc. and any
of its past, present and future divisions, operating companies, parent entities, subsidiaries and
affiliates.

13. LITIGATION AND REGULATORY COOPERATION

During and after the Employee’s employment, the Employee will reasonably cooperate with Live
Nation in the defense or prosecution of any claims or actions now in existence or which may be
brought in the future against or on behalf of Live Nation which relate to events or occurrences
that transpired while the Employee was employed by Live Nation; provided, however, that such
cooperation shall not materially and adversely affect the Employee or expose the Employee to an
increased probability of civil or criminal litigation. The Employee’s cooperation in connection
with such claims or actions shall include, without limitation, being available to meet with counsel
to prepare for discovery or trial and to act as a witness on behalf of Live Nation at mutually
convenient times. During and after the Employee’s employment, the Employee also shall cooperate
fully with Live Nation in connection with any investigation or review of any federal, state or
local regulatory authority as any such investigation or review relates to events or occurrences
that transpired while the Employee was employed by Live Nation. Live Nation will pay the Employee
on an hourly basis (to be derived from the Employee’s highest base salary) for requested litigation
and regulatory cooperation that occurs after the Employee’s termination of employment, and will
reimburse the Employee for all costs and expenses incurred in connection with the Employee’s
performance under this Section 13, including, without limitation, reasonable attorneys’ fees and
costs.

14. INDEMNIFICATION AND INSURANCE; LEGAL EXPENSES

Live Nation shall indemnify the Employee to the fullest extent permitted by law, in effect at
the time of the subject act or omission, and shall advance to the Employee reasonable attorneys’
fees and expenses as such fees and expenses are incurred (subject to an undertaking from the
Employee to repay such advances if it shall be finally determined by a judicial decision which is
not subject to further appeal that the Employee was not entitled to the reimbursement of such fees
and expenses), and the Employee will be entitled to the protection of any insurance policies that
Live Nation may elect to maintain generally for the benefit of its directors and officers against
all costs, charges and expenses incurred or sustained by her in connection with any action, suit or
proceeding to which she may be made a party by reason of her being or having been a director,
officer or employee of Live Nation or any of its subsidiaries, or her serving or having served any
other enterprise as a director, officer or employee at the request of Live Nation (other than any
dispute, claim or controversy arising under or relating to this Agreement). Live Nation covenants
to maintain during the Employee’s employment for the benefit of the Employee (in her capacity as an
officer and director of Live Nation) directors’ and officers’ insurance providing benefits to the
Employee no less favorable, taken as a whole, than the benefits provided to the other
similarly-situated employees of Live Nation by the directors’ and officers’ insurance maintained by
Live Nation on the date hereof; provided, however, that the Board may elect to terminate directors’
and officers’ insurance for all officers and directors, including the Employee, if the Board
determines in good faith that such insurance is not available or is available only at unreasonable
expense.

15. ARBITRATION

The parties agree that any dispute, controversy or claim, whether based on contract, tort,
statute, discrimination, retaliation or otherwise, relating to, arising from or connected in any
manner to this Agreement, or to any alleged breach of this Agreement, or arising out of or relating
to the Employee’s employment or termination of employment, shall, upon the timely written request
of either party be submitted to and resolved by binding arbitration. The arbitration shall be
conducted in Los Angeles, California. The arbitration shall proceed in accordance with the
National Rules for Resolution of Employment Disputes of the American Arbitration Association
(“AAA”) in effect at the time the claim or dispute arose, unless other rules are agreed upon by the
parties. Unless otherwise agreed to by the parties in writing, the arbitration shall be conducted
by one arbitrator who is a member of the AAA and who is selected pursuant to the methods set out in
the National Rules for Resolution of Employment Disputes of the AAA. Any claims received after the
applicable/relevant statute of limitations period has passed shall be deemed null and void. The
award of the arbitrator shall be a reasoned award with findings of fact and conclusions of law.
Either party may bring an action in any court of competent jurisdiction to compel arbitration under
this Agreement, to enforce an arbitration award and to vacate an arbitration award. However, in
actions seeking to vacate an award, the standard of review to be applied by said court to the
arbitrator’s findings of fact and conclusions of law will be the same as that applied by an
appellate court reviewing a decision of a trial court sitting without a jury. Live Nation will pay
the actual costs of arbitration excluding attorneys’ fees to the extent required by law. Each
party will pay its own attorneys’ fees and other costs incurred by their respective attorneys.

16. REPRESENTATIONS AND WARRANTIES OF THE EMPLOYEE

The Employee represents and warrants to Live Nation that: (i) the Employee is under no
contractual or other restriction which is inconsistent with the execution of this Agreement, the
performance of the Employee’s duties hereunder or the other rights of Live Nation hereunder; (ii)
the Employee is under no physical or mental disability that would hinder the performance of the
Employee’s duties under this Agreement; (iii) the Employee’s execution of this Agreement and
performance of the Services under this Agreement will not violate any obligations that the Employee
may have to any other or former employer, person or entity, including any obligations to keep in
confidence proprietary information, knowledge or data acquired by the Employee in confidence or in
trust prior to becoming an employee of Live Nation. The Employee further represents, warrants and
covenants that the Employee will not disclose to Live Nation, or use in connection with the
Employee’s activities as an employee of Live Nation, or induce Live Nation to use, any proprietary
or confidential information or trade secrets of the Employee or any third party at any time,
including, without limitation, any proprietary, confidential information or trade secrets of any
former employer.

17. MISCELLANEOUS

This Agreement contains the entire agreement of the parties relating to the subject matter
hereof. This Agreement supersedes any prior written or oral agreements or understandings between
the parties relating to the subject matter hereof. No modification or amendment of this Agreement
shall be valid unless in writing and signed by Live Nation and the Employee. The failure of a
party to require performance of any provision of this Agreement shall in no manner affect the right
of such party at a later time to enforce any provision of this Agreement. A waiver of the breach
of any term or condition of this Agreement shall not be deemed to constitute a waiver of any
subsequent breach of the same or any other term or condition. This Agreement is intended to be
performed in accordance with, and only to the extent permitted by, all applicable laws, ordinances,
rules and regulations. If any provision of this Agreement, or the application thereof to any
person or circumstance, shall, for any reason and to any extent, be held invalid or unenforceable,
such invalidity and unenforceability shall not affect the remaining provisions hereof or the
application of such provisions to other persons or circumstances, all of which shall be enforced to
the greatest extent permitted by law. The headings in this Agreement are inserted for convenience
of reference only and shall not be a part of, or control or affect the meaning of, any provision
hereof. This Agreement shall not be construed against any party on the grounds that such party
drafted this Agreement.

[Remainder of Page Intentionally Left Blank]

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THE EMPLOYEE ACKNOWLEDGES THAT THE EMPLOYEE HAS HAD THE OPPORTUNITY TO CONSULT LEGAL COUNSEL
CONCERNING THIS AGREEMENT, THAT THE EMPLOYEE HAS READ AND UNDERSTANDS THIS AGREEMENT, THAT THE
EMPLOYEE IS FULLY AWARE OF ITS LEGAL EFFECT AND THAT THE EMPLOYEE HAS ENTERED INTO IT FREELY BASED
ON THE EMPLOYEE’S OWN JUDGMENT AND NOT ON ANY REPRESENTATIONS OR PROMISES OTHER THAN THOSE
CONTAINED IN THIS AGREEMENT.

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

THE EMPLOYEE

	 	 	 	 	 
	Date: August 23, 2007	 	/s/ Elizabeth K Willard
	 	 	 
	 	 	Elizabeth K. Willard
	 	 	LIVE NATION WORLDWIDE, INC.
	Date: 8/23/07

	 	By:
	 	/s/ Michael G Rowles
	 

	 	 	 	 
	
 
	 	Name:

Title:
	 	Michael G. Rowles

EVP, GC & Secretary

[Signature Page to Employment Agreement]

2

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