iHeartMedia 2002 Annual Report Download - page 155

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EXHIBIT 10.14
EXECUTIVE EMPLOYMENT AGREEMENT
This Executive Employment Agreement is entered into this 21st day of
March, 2001, effective the 1st day of August, 2000, between Clear Channel
Communications, Inc. (the "Company") and Brian E. Becker (the "Executive").
WHEREAS, the Company and the Executive desire to enter into to an
employment relationship under the terms and conditions set forth in this
Agreement.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows:
1. TERM OF EMPLOYMENT.
The Executive’s term of employment starts on the effective date of this
Agreement and ends on the close of business on February 13, 2006.
2. TITLE AND DUTIES.
The Executive’s title is Chairman and Chief Executive Officer of SFX
Entertainment and all other worldwide live entertainment businesses now or
hereafter owned by the Company or any other entity in control of, controlled by,
or under common control with the Company (the "Entertainment Businesses"). The
Executive’s office will be based in Houston, Texas. The Executive will perform
job duties that are usual and customary for this position, and will perform
additional services and duties that the Board of Directors of the Company (the
"Board") or the Chief Operating Officer of the Company may from time to time
designate that are consistent with the usual and customary duties of this
position. The Executive will report to the Chief Operating Officer of the
Company. Notwithstanding the first sentence of this paragraph to the contrary,
the Chief Operating Officer may assign or reassign to any subsidiary or
affiliate of the Company any live entertainment businesses which otherwise would
be assigned to SFX Entertainment unless the Executive objects in writing to the
Chief Operating Officer about such assignment or reassignment within 30 days
following written notice to the Executive of such assignment or reassignment. If
the Executive fails to timely object to such assignment or reassignment, the
Executive shall be deemed conclusively to have consented thereto for all
purposes. The Executive will devote his full working time and efforts to the
business and affairs of the Company. To the extent that it does not
substantially interfere with the performance of his duties and responsibilities
under this Agreement, the Executive will be permitted to (i) manage his
personal, financial, and legal affairs, and (ii) serve on corporate, civic, or
charitable boards and committees (it being expressly understood and agreed that
the Executive’s continuing to serve on any such boards and/or committees on
which the Executive was serving on the effective date of this Agreement shall be
deemed not to interfere with the performance of the Executive’s duties and
responsibilities under this Agreement).
3. COMPENSATION AND BENEFITS.
(a) BASE SALARY. The Company agreed to pay the Executive an annual base
salary of $450,000.00 per year for the 2000 calendar year prorated for the
period of employment from