Exhibit 10.17
AGREEMENT
This AGREEMENT (the "Agreement") is entered into as of the first day of
January, 200 1, by and among BASTET BROADCASTING, INC. ("Bastet"), MISSION
BROADCASTING OF WICHITA FALLS, INC. ("Mission Wichita Falls"), and MISSION
BROADCASTING OF AMARILLO, INC. ("Mission Amarillo" and, together with Bastet and
Mission Wichita Falls, the "Companies"), XXXXX X. XXXXX, a resident of the State
of Ohio and XXXXXX X. XXXXX, a resident of the State of Ohio.
WITNESSETH
WHEREAS, Bastet is the owner of television broadcast stations WFXP,
Erie, Pennsylvania and WYOU, Scranton, Pennsylvania, Mission Wichita Falls is
the owner of television broadcast stations KJTL and KJBO-LP, Wichita Falls,
Texas and Mission Amarillo is the owner of television broadcast stations KCIT
and KCPN-LP, Amarillo, Texas (the television broadcast stations are
collectively, the "Stations"); and
WHEREAS, Xxxxx X. Xxxxx is the President of each of the Companies, and
performs certain functions in connection therewith; and
WHEREAS, Xxxxxx X. Xxxxx is the Vice President of each of the Companies,
and performs certain functions in connection therewith; and
WHEREAS, the Companies pay Xxxxx X. Xxxxx and Xxxxxx X. Xxxxx for the
services they provide with respect to the Stations; and
WHEREAS, the Companies desire that Bastet make the payments to Xxxxx X.
Xxxxx and Xxxxxx X. Xxxxx for the services they provide to all the Stations, and
each Company will reimburse Bastet for the portion of the payments relating to
its respective Station;
NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties, intending to be
legally bound, agree as follows:
1. Xxxxx X. Xxxxx and Xxxxxx X. Xxxxx perform certain services for the
Companies with respect to the business of the Stations, including, but not
limited to, FCC regulatory compliance, filing of FCC applications and reports,
management of the Stations' finances, programming, personnel and payroll,
review and filing of state and federal tax returns and any other necessary
state filings for the Companies, and general duties as officers and directors
of the Companies.
2. As compensation for the foregoing services, the Companies will pay
Xxxxx X. Xxxxx no more than the following amounts per year:
Company Stations Amount
Bastet Broadcasting, Inc. WFXP $50,000
WYOU 50,000
Mission Wichita Falls KJTLKJBO-LP 50,000
Mission Amarillo KCIT/KCPN-LP 50.000
-------
TOTAL $200.00
=======
3. As compensation for the foregoing services, the Companies will pay
Xxxxxx X. Xxxxx an hourly salary to be agreed upon between Xxxxxx X. Xxxxx and
the Companies.
4. Subject to paragraph 2 above, Bastet agrees to pay Xxxxx X. Xxxxx
compensation to be agreed upon for and on behalf of the Companies, and each
Company agrees to reimburse Bastet for the compensation payments relating to
that Company. Bastet also agrees to pay Xxxxxx X. Xxxxx the amounts set forth
in paragraph 3 hereof for and on behalf of the Companies, and each Company
agrees to reimburse Bastet for the payments relating to that Company.
5. This Agreement shall be binding upon and shall inure to the benefit
of the parties hereto and their respective successors and assigns.
6. This Agreement may be executed in counterparts, each of which shall
be deemed an original and together which shall constitute one and the same
instrument.
-2-
IN WITNESS WHEREOF, the parties have entered into this Agreement as of
the date first stated above.
BASTET BROADCASTING, INC.
By: /s/ Xxxxx X. Xxxxx
---------------------------------------
Xxxxx X. Xxxxx, President
MISSION BROADCASTING OF WICHITA FALLS, INC.
By: /s/ Xxxxx X. Xxxxx
---------------------------------------
Xxxxx X. Xxxxx, President
MISSION BROADCASTING OF AMARILLO, INC.
By: /s/ Xxxxx X. Xxxxx
---------------------------------------
Xxxxx X. Xxxxx, President
By: /s/ Xxxxx X. Xxxxx
---------------------------------------
Xxxxx X. Xxxxx, an individual
By: /s/ Xxxxxx X. Xxxxx
---------------------------------------
Xxxxxx X. Xxxxx, an individual
