Document:

First Amendment to Employment Agreement - Jason Garner

 Exhibit 10.32 
 AMENDMENT 
 TO 
 EMPLOYMENT AGREEMENT 
 This Amendment to the
Employment Agreement (this “Amendment”) is effective as of the 31st day of December, 2008 (the “Effective Date”) by and between
Live Nation Worldwide, Inc., a Delaware corporation (“Live Nation”), and Jason Garner (the “Employee”). 
 WHEREAS, the
parties entered into that certain Employment Agreement dated March 18, 2008 (the “Original Agreement”). 
 WHEREAS, the
parties desire to amend the Original Agreement as set forth below. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements
included in this Amendment 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. Section 3(b) of the Original Agreement is hereby amended by inserting the following sentence at the end of the Section: 
 “The Performance Bonus, if any, shall be paid in one lump sum in the year following the year in which such Performance Bonus was earned.”

 2. The last sentence of Section 8(d) of the Original Agreement is hereby amended to read in its entirety as follows: 
 “In addition, if the Employee signs a general release of claims no later than 60 days following such termination in a form and manner satisfactory to
Live Nation, then, subject to Section 8(g), within 90 days after such termination, Live Nation will begin paying to the Employee in regular installments in accordance with Live Nation’s payroll practices and less appropriate payroll
deductions, an amount equal to the Employee’s monthly base salary for the greater of (i) 12 months or (ii) the remainder of the Term.” 
 3. Section 8(g) of the Original Agreement is hereby amended and restated in its entirety to read as follows. 
 “(g) Code Section 409A Compliance. 
 (i) To the fullest extent applicable,
amounts and other benefits payable under this Agreement are intended to be exempt from the definition of “nonqualified deferred compensation” under section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) in
accordance with one or 

 
more of the exemptions available under the final Treasury regulations promulgated under Section 409A and, to the extent that any such amount or benefit
is or becomes subject to Section 409A due to a failure to qualify for an exemption from the definition of nonqualified deferred compensation in accordance with such final Treasury regulations, this Agreement is intended to comply with the
applicable requirements of Section 409A with respect to such amounts or benefits. This Agreement shall be interpreted and administered to the extent possible in a manner consistent with the foregoing statement of intent. 
 (ii) Notwithstanding anything in this Agreement or elsewhere to the contrary, for purposes of determining the payment date of any amounts
that are treated as nonqualified deferred compensation under Section 409A of the Code that become payable under this Agreement in connection with a termination of employment, the date that the Employee is deemed to have incurred a termination
of employment shall be the date on which the Employee has incurred a “separation from service” within the meaning of Treasury Regulation section 1.409A-1(h), or in subsequent IRS guidance under Code section 409A. 
 (iii) For purposes of Section 409A, each salary continuation payment payable under Section 8(d) shall constitute a separate
“payment” within the meaning of Treasury Regulation Section 1.409A-2(b)(2). 
 (iv) Notwithstanding anything in
this Agreement or elsewhere to the contrary, if Live Nation reasonably determines that (A) the Employee is a “specified employee” (within the meaning of Treasury Regulation Section 1.409A-1(i)) on the date of the Employee’s
“separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) and (B) commencement of any payments or other benefits payable under this Agreement in connection with the Employee’s separation from
service on the scheduled payment dates specified in Sections 8(c) through (e), will subject the Employee to an “additional tax” under Section 409A(a)(1)(B) (together with any interest or penalties imposed with respect to, or in
connection with, such tax, a “Section 409A Tax”), then Live Nation shall withhold payment of any such payments or benefits until the first business day of the seventh month following the date of the Employee’s separation from service
or, if earlier, the date of the Employee’s death (the “Delayed Payment Date”). In the event that this Section 8(g)(iv) requires any payments to be withheld, such withheld payments shall be accumulated and paid in a single lump
sum, without interest, on the Delayed Payment Date. 
 (v) In each case where this Agreement provides for the payment of an
amount that constitutes nonqualified deferred compensation under Section 409A to be made to the Employee within a designated period (e.g., within 30 days after the date of termination) and such period begins and ends in different calendar
years, the exact payment date within such range shall, subject to Section 8(g)(iv) above, be determined by Live Nation, in its sole discretion, and the Employee shall have no right to designate the year in which the payment shall be made.

  

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 (vi) Live Nation and the Employee may agree to take other actions to avoid the imposition
of a Section 409A Tax at such time and in such manner as permitted under Section 409A. 
 (vii) Notwithstanding
anything herein to the contrary, the Employee expressly agrees and acknowledges that in the event that any Section 409A Tax is imposed in respect of any compensation or benefits payable to the Employee, whether under this Agreement or
otherwise, then (A) the payment of such Section 409A Tax shall be solely the Employee’s responsibility, (B) neither Live Nation, its affiliated entities nor any of their respective past or present directors, officers, employees
or agents shall have any liability for any such Section 409A Tax, and (C) the Employee shall indemnify and hold harmless, to the greatest extent permitted under law, each of the foregoing from and against any claims or
liabilities that may arise in respect of any such Section 409A Tax.” 
 4. The Original Agreement is and shall continue in
full force and effect, except as amended by this Amendment, and except that all references in the Original Agreement to the “Agreement” or words of like import referring to the Original Agreement shall mean the Original Agreement as
amended by this Amendment. 
 5. Any and all capitalized terms which are not explicitly defined herein shall have the meaning ascribed to
them in the Original Agreement. 
 6. This Amendment may be signed in counterpart originals, which collectively shall have the same legal
effect as if all signatures appeared on the same physical document. This Amendment may be signed and exchanged by electronic or facsimile transmission, with the same legal effect as if the signatures had appeared in original handwriting on the same
physical document. 
 IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment effective as of the date written above.

  

									
		 		 	THE EMPLOYEE
				
	Date:	 	12/19/08	 		 	/s/ Jason Garner
		 		 		 	Jason Garner
			
		 		 	LIVE NATION WORLDWIDE, INC.
					
	Date:	 	12/19/08	 		 	By:	 	/s/ Michael Rapino
		 		 		 	Name:	 	Michael Rapino
		 		 		 	Title:	 	Chief Executive Officer

  

 - 3 -Letter Agreement with Thomas Bartlett

 Exhibit 10.1 
 

 
 February 20, 2009 
 Mr. Thomas Bartlett 
 17 Tanglewood Drive 
 Titusville, New Jersey 08560 
 Dear Tom, 
 I am pleased
to confirm our offer to you to join American Tower Corporation (“American Tower” or the “Company”), for the position of Executive Vice President and Chief Financial Officer, reporting to me and beginning on a mutually agreed upon
date on or before April 1, 2009 ( the “Start Date”). In this position, you will be based in our corporate office in Boston, MA. It is understood that our offer is contingent on the approval of American Tower’s Board of Directors,
satisfactory completion of and results from the reference and security checking process and your providing certain required documentation. 
 Your starting
base salary will be at the annual rate of $630,000 and your next annual merit review cycle will be effective January 1, 2010. Paydays are scheduled on a bi-weekly basis. For 2009 and 2010, you will be eligible to receive an annual discretionary
bonus based on a target of 60% of your annual base salary, subject to performance against to be agreed upon goals and objectives, and in accordance with the terms and conditions set forth in the relevant bonus plan. Thereafter, you will be eligible
to participate per the then applicable terms and conditions of the relevant bonus plan. Further details summarizing our bonus plan will be provided to you by Allen Todres, SVP of Human Resources. Your bonus for service in 2009 (to be paid in early
2010) and your bonus for 2010 (to be paid in early 2011) will be calculated as if you began work at American Tower at the beginning of 2009, i.e., there will be no downward proration due to initiating employment part way through 2009. Moreover, your
bonus for 2009 shall not be less than the 60% bonus target, or $378,000. In order to receive such bonus amounts, you must be an employee of the Company on the respective payment dates. 
 Additionally, the company will provide you with a one-time lump sum payment of $200,000 payable within thirty days of your Start Date, to assist you in the handling of your transition and Boston-based living expenses.
Moreover, you will receive a cash signing bonus of $400,000, half which will be paid on the first anniversary of your Start Date and half on the second anniversary of your Start Date. In order to receive these payments, you must be an employee of
the Company on the respective payment dates. As an Executive Vice President, you also will receive an annual car allowance of $12,000 and reimbursement for related auto insurance premiums. 
 In consideration of your acceptance of this offer, you will be recommended to receive an equity-based incentive award valued at $2,000,000 at the date of grant. The
award will consist of 50%, in terms of award value, in Non Qualified Stock Options to purchase shares of the Company’s common stock, and 50% of such value will be in the form of restricted stock units (“RSUs”), subject to approval by
the Compensation Committee of American Tower’s Board of Directors. In addition and in consideration of your potential future contributions to the Company, you will be recommended for a one-time “High Impact” grant, with a value of
$500,000 on the date of grant. As to this grant as well, 50% of the value will be in the form of options and 50% of the value in the form of RSU’s. 

 The above equity-based awards will vest over four years of continuous employment, or 25% per year, commencing one
year from the date of grant. These equity award recommendations will be submitted to the Compensation Committee for approval at its first regularly scheduled meeting following your start date (provided you start by the 15th of the month prior
to the Compensation Committee meeting), or at such other approval date as determined by the Committee. The date of grant will be the first business day of the month following the Compensation Committee meeting in which the awards were approved. The
awards will be subject to the terms and conditions of the award agreements and other plan documents relating to the American Tower 2007 Equity Incentive Plan (“Equity Plan”), which will be provided to you shortly after the awards are
granted.
 As an Executive Vice President, you will be eligible for benefits under the American Tower Corporation Severance Program (the
“Program”). These benefits with respect to your Executive Vice President position, currently would include, among other things, 78 weeks of severance pay and a pro-rated target bonus payment, should you experience a “Qualifying
Termination”, including termination under certain situations after a “Change of Control”, all as set forth and defined in the Program. All severance benefits are subject to the terms and conditions of the Program and the policies
relating thereto, which will be provided to you shortly after your Start Date. You will also be eligible for the following supplemental benefit if your employment is terminated by the Company (other than for “Cause” or
“Performance Reasons” as defined in the Program): the ‘employment offer’ equity-based incentive award and the “High Impact” grant, as described above valued at a total of $2,500,000, will immediately vest and be
exercisable for ninety (90) days per the terms of the Equity Plan. 
 American Tower offers a very comprehensive benefits package. As a benefit eligible
employee, if you intend to participate in either the Medical, Dental or Reimbursement Plans you must complete and return the appropriate enrollment forms within the first 30 days of employment. If you do not return the enrollment forms within 30
days from your Start Date, your next opportunity to enroll in these plans will be during annual open enrollment. 
 You will also be eligible to participate
in the Company’s other employee benefit programs. Participation in all benefit programs must be in accordance with the terms of each plan and/or program. More information on the benefits package will be provided to you in a separate package of
materials that Allen Todres will send. 
 We will provide you with American Tower’s Confidentiality Agreement, Employment Eligibility Verification (I-9)
form, W-4, Personal Information Form as well, as a Benefits Summary. When you receive these documents, please complete the Confidentiality Agreement, Personal Information, W-4 and fax or mail them back to Allen. The top portion of the I-9 form
must be completed and accompanied by acceptable documents within three (3) business days of your Start Date (a list of acceptable documents is also enclosed). 
 Please be advised that your employment with American Tower Corporation will be considered at will, which means that your employment may be terminated at any time with or without cause by either you or the
Company, with or without advance notice. 
 By acceptance of this offer, you represent that on your first day of work you will be free to accept employment
without any contractual or legal restrictions, express or implied, with respect to any of your prior employers or any commitments made to them. You also represent that you have not taken or otherwise misappropriated and you do not have in your
possession or control any confidential or proprietary 

 
information belonging to any of your prior employers or connected with or derived from your service with your prior employers. You represent that you have
returned to all prior employers, any and all such confidential or proprietary information. You further acknowledge that the Company has informed you that you are not to use or cause the use of such confidential or proprietary information in any
manner whatsoever in connection with your employment by the Company. 
 This offer of employment will remain open for your consideration and acceptance until
the close of business on Friday, February 20, 2009. If you have any questions, please free to contact me. 
 Finally, Tom, I want to convey my
enthusiasm at the opportunity for us to work together to take our company to the next level. The prospect of you joining our leadership team is unanimously favored by all of the Directors and executives at our company that you have met or spoken to.
We can’t wait for you to get started. 
  

	
	Sincerely,
	
	 /s/ James Taiclet

	James Taiclet
	Chairman, President, and Chief Executive Officer
	116 Huntington Ave, 11th Floor
	Boston, MA 02116
	Phone: (617) 375-7520
	Fax: (617) 375-7575

  
  
 My signature acknowledges receipt and acceptance of this employment offer with American Tower Corporation as outlined above. 
  

							
	 /s/ Thomas Bartlett
	 		 	 2/09
	 	
	Signature	 		 	Date

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