0000950144-06-002610 Sample Contracts

EMPLOYMENT AGREEMENT
Employment Agreement • March 22nd, 2006 • Paxson Communications Corp • Radio broadcasting stations • Florida

This EMPLOYMENT AGREEMENT (this “Agreement”) is dated as of January 1, 2004 by and between PAXSON COMMUNICATIONS MANAGEMENT COMPANY, INC., a Florida corporation (“Paxson”), and Steven Appel, an individual resident of the State of New York (“Employee”).

SUPPLEMENTAL INDENTURE PROVIDING FOR THE AMENDMENT OF THE INDENTURE, DATED AS OF DECEMBER 30, 2005
Indenture • March 22nd, 2006 • Paxson Communications Corp • Radio broadcasting stations

This SUPPLEMENTAL INDENTURE (the “Supplemental Indenture”), dated as of February 28, 2006, is entered into by and among PAXSON COMMUNICATIONS CORPORATION, a Delaware corporation, as Issuer (the “Company”), its direct and indirect subsidiaries listed on the signature pages hereto (each individually, a “Guarantor” and, collectively, the “Guarantors”), and THE BANK OF NEW YORK TRUST COMPANY, NA, a national banking association, as Trustee (the “Trustee”).

AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • March 22nd, 2006 • Paxson Communications Corp • Radio broadcasting stations

Reference is made to the Employment Agreement dated as of January 1, 2004 (the “Agreement”) by and between Paxson Communications Management Company, Inc. (“Paxson”) and Stephen Appel (“Employee”). Capitalized terms used and not otherwise defined herein have the respective meanings assigned thereto in the Agreement.

FIRST AMENDMENT TO TERM LOAN AGREEMENT
Term Loan Agreement • March 22nd, 2006 • Paxson Communications Corp • Radio broadcasting stations

This FIRST AMENDMENT TO TERM LOAN AGREEMENT, dated as of February 28, 2006 (the “First Amendment”), is entered into by and among PAXSON COMMUNICATIONS CORPORATION, a Delaware corporation (the “Borrower”); the subsidiaries of the Borrower party hereto (the “Subsidiary Guarantors”); and CITICORP NORTH AMERICA, INC., as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders (as defined below).