Document:

Supplemental Indenture

 Exhibit 10.24 
 SUPPLEMENTAL INDENTURE OF CC FINCO HOLDINGS, LLC 
 Supplemental Indenture
(this “Supplemental Indenture”), dated as of December 9, 2008, among CC Finco Holdings, LLC (the “Guaranteeing Subsidiary”), a subsidiary of Clear Channel Communications, Inc., a Texas corporation (the
“Issuer”) and Law Debenture Trust Company of New York, as trustee (the “Trustee”). 
 W I T N E
S S E T H 
 WHEREAS, Clear Channel Communications, Inc. has heretofore executed and delivered to the Trustee an indenture (the
“Indenture”), dated as of July 30, 2008, providing for the issuance of an unlimited aggregate principal amount of 10.75% Senior Cash Pay Notes due 2016 (the “Senior Cash Pay Notes”) and 11.00% / 11.75% Senior
Toggle Notes due 2016 (the “Senior Toggle Notes” and together with the Senior Cash Pay Notes, the “Notes”); 
 WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all
of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein and under the Indenture (the “Guarantee”); and 
 WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and
ratable benefit of the Holders of the Notes as follows: 
 (1) Capitalized Terms. Capitalized terms used herein without
definition shall have the meanings assigned to them in the Indenture. 
 (2) Agreement to Guarantee. The Guaranteeing
Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Indenture including but not limited to Articles 10 and 11 thereof. 
 (3) No Recourse Against Others. No past, present or future director, officer, employee, incorporator, member, partner or stockholder
of the Guaranteeing Subsidiary or any of its direct or indirect parent companies shall have any liability for any obligations of the Issuer or the Guarantors (including the Guaranteeing Subsidiary) under the Notes, any Guarantees, the Indenture or
this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting Notes waives and releases all such liability. The waiver and release are part of the consideration
for issuance of the Notes. 
 (4) Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 (5) Counterparts. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 
 (6)
Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof. 
 (7) The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which
recitals are made solely by the Guaranteeing Subsidiary. 
  

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 (8) Subrogation. The Guaranteeing Subsidiary shall be subrogated to all rights of
Holders of Notes against the Issuer in respect of any amounts paid by the Guaranteeing Subsidiary pursuant to the provisions of Section 2 hereof and Section 10.01 of the Indenture; provided that, if an Event of Default has occurred
and is continuing, the Guaranteeing Subsidiary shall not be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until all amounts then due and payable by the Issuer under the Indenture or the Notes
shall have been paid in full. 
 (9) Benefits Acknowledged. The Guaranteeing Subsidiary’s Guarantee is subject to the
terms and conditions set forth in the Indenture. The Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental Indenture and that the
guarantee and waivers made by it pursuant to this Guarantee are knowingly made in contemplation of such benefits. 
 (10)
Successors. All agreements of the Guaranteeing Subsidiary in this Supplemental Indenture shall bind its Successors, except as otherwise provided in the Indenture or in this Supplemental Indenture. All agreements of the Trustee in this
Supplemental Indenture shall bind its successors. 
  

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

					
	CC FINCO HOLDINGS, LLC
		
	By:	 	 /s/ Hamlet T. Newsom, Jr.

		 	Name:	 	Hamlet T. Newsom, Jr.
		 	Title:	 	Assistant Secretary

  

					
	LAW DEBENTURE TRUST COMPANY OF NEW YORK, as Trustee
		
	By:	 	 /s/ James D. Heaney

		 	Name:	 	James D. Heaney
		 	Title:	 	Vice President

  
 [Supplemental Indenture of CC Finco Holdings, LLC]Amendment to the Amended and Restated Employment Agreement

 Exhibit 10.45 
 CLEAR CHANNEL COMMUNICATIONS, INC. 
 200 East Basse Road

 San Antonio, TX 78209 
 January 20, 2009 
 Mr. Mark P. Mays 
 200 East Basse Road 
 San Antonio, TX 78209 
 Re: Amendment to Amended and Restated Employment Agreement  
 Dear Mr. Mays: 
 This letter memorializes the terms of the agreement (“Amendment”)
we have reached to amend the terms of your Amended and Restated Employment Agreement (“Employment Agreement”) with Clear Channel Communications, Inc. (the “Company”), as successor to BT Triple Crown Merger Co., Inc. and CC Media
Holdings, Inc. (“Holdings”), effective July 28, 2008. The parties have agreed as follows: 
 1. Section 5(a) of the
Employment Agreement is hereby amended to read in its entirety as follows: 
 (a) Base Salary and Bonus. During the Employment Period, the
Company shall pay Executive a base salary at a rate of not less than $500,000 for calendar year 2009 and, thereafter, not less than $1,000,000 per year (“Base Salary”). Executive’s Base Salary shall be paid in approximately equal
installments in accordance with the Company’s customary payroll practices. The Compensation Committee of the Board of Holdings (the “Compensation Committee”) shall review Executive’s Base Salary for increase (but not decrease) no
less frequently than annually and consistent with the executive compensation practices and guidelines of the Company and Holdings. If Executive’s Base Salary is increased by the Company, such increased Base Salary shall then constitute the Base
Salary for all purposes of this Agreement. In addition to Base Salary, Executive shall be eligible to receive an annual bonus (the “Performance Bonus”). Unless the Board of Holdings and Executive mutually agree otherwise, the amount of the
Performance Bonus for each year during the Employment Period subsequent to 2008 shall be calculated in accordance with the schedule set forth below. 

 The Target EBITDA for 2009 and thereafter shall be determined by the Compensation Committee in consultation
with management of the Company. 
 The Target EBITDA for a particular year shall be determined for each year within thirty (30) days
following approval of the Company’s budget for such year by the Board of Holdings. 
 EBITDA, for all purposes of this Agreement, shall be
defined as, and shall use the same calculations and methodologies used for determining Consolidated EBITDA as defined by the Credit Agreement among Clear Channel Capital I, LLC, as successor to BT Triple Crown Merger Co., Inc., and Clear Channel
Communications, Inc., the Subsidiary Co-Borrowers (as defined by the Credit Agreement), the Foreign Subsidiary Revolving Borrowers (as defined by the Credit Agreement), from time to time a party thereto, Citibank, N.A., as Administrative Agent,
Swing Line Lender and L/C Issuer, and each lender from time to time party thereto dated May 13, 2008 (the “Credit Agreement”), as amended from time to time, except that for purposes of this Amendment, unless otherwise approved by the
Compensation Committee and the Board of Holdings, Achieved EBITDA will (i) exclude EBITDA generated from joint venture entities formed after the date hereof to the extent not included in the calculation of Target EBITDA and (ii) include
EBITDA that is excluded from Consolidated EBITDA by reason of being generated from discontinued operations. Achieved EBITDA will also be adjusted to take into account any acquisitions or divestitures made during the applicable year, such that Target
EBITDA and Achieved EBITDA include the same businesses, assets or operations for the same period, as reasonably determined by the Compensation Committee and the Board of Holdings. The parties intend that Achieved EBITDA be calculated for a
particular year in a manner consistent with the assumptions used to develop Target EBITDA for such year and with the full benefit of strategic and operational improvements above and beyond the plan used in developing Target EBITDA, as determined by
the Compensation Committee in its reasonable discretion. 
 At the end of each year, the EBITDA attained shall be calculated by the Chief
Accounting Officer of the Company (the “Achieved EBITDA”), subject to the approval of the Compensation Committee. 
 The Performance
Bonus for any year in the Employment Period subsequent to 2008 shall be paid in accordance with the following schedule: 
  

			
	 Achieved EBITDA/Target EBITDA
 (expressed as a percentage)
	  	 Performance Bonus

	 90% or less
	  	$0
	 100%
	  	$2,000,000
	 110%
	  	$3,000,000
	 120% or more
	  	$4,000,000

  

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 If the Achieved EBITDA is between 90% and 100% of Target EBITDA, the Performance Bonus shall be an amount
between $0 and $2,000,000, pro rata based on the percent of Target EBITDA actually achieved. If the Achieved EBITDA is between 100% and 110% of Target EBITDA, the Performance Bonus shall be an amount between $2,000,000 and $3,000,000, pro rata based
on the percent of Target EBITDA actually achieved. If the Achieved EBITDA is between 110% and 120% of Target EBITDA, the Performance Bonus shall be an amount between $3,000,000 and $4,000,000, pro rata based on the percent of Target EBITDA actually
achieved. 
 The Performance Bonus, if any, shall be payable in a single lump sum between January 1 and March 15 of the year following
the year for which the Performance Bonus was earned. 
 2. Section 6(c)(ii) of the Employment Agreement is hereby
amended by inserting the phrase “dated as of July 29, 2008 by and among Mergersub, Holdings, Executive and other stockholders of Holdings after the phrase “as defined in the Stockholders Agreement”. 
 3. Section 8(a)(i) and 8(a)(ii) of the Employment Agreement are hereby amended by inserting the phrase “as defined by
Section 5(a) as modified in accordance with the terms of the Amendment to the Employment Agreement except that Base Salary for purposes of this section shall never be less than $1,000,000” after “Base Salary” in each place where
the term “Base Salary” appears. 
 4. All provisions of the Employment Agreement, other than Section 5(a),
6(c)(ii), 8(a)(i) and 8(a)(ii) (which shall be modified in accordance with the terms hereof), shall remain in full force and effect. 
 5. This letter agreement contains the entire agreement of the parties concerning the subject matter hereof. Neither this Amendment, nor the Employment Agreement it amends, may be modified or waived in any manner other than by an
authorized writing of the parties. 
 [The remainder of this page is left intentionally blank.] 
  

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

					
	 Sincerely,
  
 CC Media Holdings, Inc.

		
	By:	 	 /s/ Andrew Levin

		 	Name:	 	Andrew Levin
		 	Title:	 	Executive Vice President, Chief Legal Officer and Secretary
	
	Clear Channel Communications, Inc.
		
	By:	 	 /s/ Andrew Levin

		 	Name:	 	Andrew Levin
		 	Title:	 	Executive Vice President, Chief Legal Officer and Secretary

 ACCEPTED AND AGREED TO: 
 /s/ Mark P. Mays 
 Mark P. Mays 
 Date: January 20, 2009

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