Clear Channel Outdoor Holdings (CCO)

3. COMPENSATION AND BENEFITS

(a) Base Salary. Employee shall be paid an annual salary of Seven Hundred Fifty Thousand Dollars ($750,000.00) (“Base Salary”) and is eligible for annual salary increases commensurate with Company policy.

(b) Vacation. Employee is eligible for vacation days as set forth in the Employee Guide which will not be less than 20 days paid vacation per year.

(c) Annual Bonus. Eligibility for an Annual Bonus is based on financial and performance criteria established by Company and approved in the annual budget, and will be paid no later than March 15 each calendar year following the year in which the Annual Bonus was earned. For calendar year 2010 and each calendar year thereafter, subject to annual increases as may be approved by Company, Employee’s target bonus (“Target Bonus”) shall be equal to One Million Dollars ($1,000,000.00), subject to bonus criteria of 70% Company financial performance-based and 30% MBO-based. The MBOs for the 2010 calendar year are to be mutually agreed upon with the Chief Executive Officer no later than March 10, 2010. The payment of any Annual Bonus shall be subject to Section 19 and shall be within the Short-Term Deferral period under Section 409A (as defined in Section 19) and applicable regulations and net of any applicable withholding tax or other deductions required by law or Company benefit plans.

(d) Signing Bonus. Employee shall receive a signing bonus of Five Hundred Thousand Dollars and 00/100 Cents ($500,000.00), less applicable withholding tax and other deductions as required by law or Company benefit plans, which shall be payable on the Company’s first normal payroll date during January 2010. If Employee terminates his employment during the first twelve months of employment with the Company or if the Company terminates Employee’s employment for Cause during such period, then Employee shall be obligated to reimburse the company fifty percent (50%) of the signing bonus, for a total of Two Hundred Fifty Thousand Dollars and 00/100 Cents ($250,000.00). Employee hereby agrees and understands that said reimbursement may be deducted from his final wages, to the extent allowed by law.

(e) Benefit Plans. Employee may participate in employee welfare benefit plans in which other similarly situated employees may participate as stated in the Employee Guide. Employee acknowledges receipt of the Employee Guide available on the intercompany website and will review and abide by its terms.

(f) Expenses. Subject to Section 19 and required withholding, Company will reimburse Employee for travel and entertainment related expenses, consistent with past practices pursuant to Company policy.

(g) Relocation. Subject to Section 19 and required withholding, Employee shall be eligible to participate in Company’s Relocation Policy as set forth in Exhibit A, and the Enhanced Relocation Policy as set forth in Exhibit B attached hereto. The benefits under these Relocation Policies shall only be available for a period of 24 months after the Effective Date.

3. COMPENSATION AND BENEFITS

(a) Base Salary. Employee shall be paid an annual salary of Seven Hundred Seventy-Five Thousand Dollars ($775,000.00) (Base Salary”) and is eligible for annual salary increases commensurate with Company policy.

(b) Vacation. Employee is eligible for vacation days as set forth in the Employee Guide, which will not be less than 20 days paid vacation per year.

(c) Annual Bonus. Eligibility for an Annual Bonus is based on financial and performance criteria established by Company and approved in the annual budget, and will be paid no later than March 15 each calendar year following the year in which the Annual Bonus was earned. For calendar year 2010 and each calendar year thereafter during the Employment Period, Employee’s target bonus (the “Target Bonus”) shall be no less than One Million Dollars ($1,000,000.00), subject to bonus criteria of 70% Company financial performance-based and 30% MBO-based. The MBOs for the 2010 calendar year are to be mutually agreed upon with the CEO no later than March 10, 2010. The Company agrees that no other similarly situated executive domestic employees of the Company and its domestic affiliates shall be provided a bonus plan in any year that is on more favorable terms than Employee’s bonus plan. The payment of any Annual Bonus shall be subject to Section 19 and shall be within the Short-Term

Deferral period under Section 409A (as defined in Section 19) and applicable regulations and net of any applicable withholding tax or other deductions required by law or Company benefit plans.

(d) Benefit Plans. Employee may participate in employee welfare benefit plans in which other similarly situated employees of the Company and its affiliated companies may participate, on the same terms as may be applicable to such similarly situated employees, as such welfare benefit plans are stated in the Employee Guide. Additionally, Employee shall be eligible for any other benefits, including fringe benefits, severance benefits in excess of those described in Section 9 of this Agreement, and any other benefits that do not constitute a welfare benefit plan, on the same or better terms as any other similarly situated employees of the Company and its affiliated companies may receive. Employee acknowledges receipt of the Employee Guide available on the intercompany website and will review and abide by its terms.