Exhibit 10.39
AGREEMENT
AGREEMENT, dated as of November 30, 1999, between INTEREP NATIONAL
RADIO SALES, INC., a New York corporation (the "Company", and XXXXX X. GUILD
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(the "Optionee").
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W I T N E S S E T H:
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WHEREAS, the Company granted Optionee a non-qualified stock option on
December 31, 1988 to purchase 10,000 shares of the Common Stock of the Company,
par value $.04 per share, at a price of $32.62 per share, expiring on August 31,
1991 (the "Option");
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WHEREAS, pursuant to the Amendment and Extension of Option, dated as
of January 1, 1991, the Company extended the term of the Option through December
31, 1993;
WHEREAS, pursuant to an Agreement, dated as of June 18, 1993, the
Company extended the term of the Option through January 1, 1997;
WHEREAS, in order to assure the continuing services of Optionee to the
Company, on December 29, 1995, the Board of Directors of the Company resolved
further to extend the term of the Option; and
WHEREAS, that resolution was inadvertently not reflected in an
agreement between the Company and Optionee;
NOW THEREFORE, in consideration of the premises, and other good and
valuable consideration, the receipt of which is hereby acknowledged, the parties
hereto agree that the Option is hereby amended by deleting the words
"December 31, 1993" in the first sentence of the first paragraph of the Option
and replacing the same with "December 29, 2005". Except as expressly amended
hereby, the Option continues and remains in full force and effect as originally
executed.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first above written.
INTEREP NATIONAL RADIO SALES, INC.
By: /s/ Xxxxxxx X. XxXxxxx, Xx.
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Xxxxxxx X. XxXxxxx, Xx.
Vice President
ATTEST:
By: /s/ Xxxx Xxxxxxxxxxxx
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Xxxx Xxxxxxxxxxxx
Secretary
OPTIONEE:
/s/ Xxxxx X. Guild
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Xxxxx X. Guild
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