0000783005-16-000090 Sample Contracts

EMMIS OPERATING COMPANY CHANGE IN CONTROL SEVERANCE AGREEMENT
Change in Control Severance Agreement • July 7th, 2016 • Emmis Communications Corp • Radio broadcasting stations • Indiana

THIS EMMIS OPERATING COMPANY CHANGE IN CONTROL SEVERANCE AGREEMENT (the “Agreement”) is entered into, effective March 1, 2016 (the “Effective Date”), by and between EMMIS OPERATING COMPANY, an Indiana corporation (the “Company”), and Paul V. Brenner (“Executive”).

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EMPLOYMENT AGREEMENT
Employment Agreement • July 7th, 2016 • Emmis Communications Corp • Radio broadcasting stations • Indiana

This EMPLOYMENT AGREEMENT (“Agreement”) is entered into as of March 1, 2016, by and between EMMIS OPERATING COMPANY, an Indiana corporation (“Employer”), and PAUL BRENNER, an Indiana resident (“Executive”).

RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • July 7th, 2016 • Emmis Communications Corp • Radio broadcasting stations • Indiana

Shares of Restricted Stock are awarded, effective as of the Date of Grant (as defined below), by Emmis Communications Corporation (the “Company”) to the person named below (the “Grantee”) upon the following terms and conditions. The Grantee will be deemed to have accepted the Restricted Stock unless the Grantee delivers a written notice of rejection to the Company within 120 days of the Date of Grant. The Restricted Stock grant evidenced by this Restricted Stock Agreement (the “Agreement”) is made pursuant to the Emmis Communications Corporation 2016 Equity Compensation Plan (the “Plan”), which is incorporated in this Agreement by reference. A prospectus for the Plan is located on the Company’s Intranet at "www.inside.emmis.com."

EMMIS COMMUNICATIONS CORPORATION OPTION GRANT AGREEMENT
Option Grant Agreement • July 7th, 2016 • Emmis Communications Corp • Radio broadcasting stations

This is an Award Agreement under the Plan shown in the above Notice of Grant. It is dated as of the Grant Date shown in the above Notice of Grant and is between Emmis Communications Corporation and you as the Optionee named in the Notice of Grant. Capitalized terms used in this Agreement that are not defined in this Agreement have the meanings given to them in the Plan. (For purposes of the Plan, the term “Grantee” is used instead of the term Optionee.)

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