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NXST > SEC Filings for NXST > Form 8-K on 6-Jun-2013All Recent SEC Filings

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Form 8-K for NEXSTAR BROADCASTING GROUP INC


6-Jun-2013

Change in Directors or Principal Officers, Financial Statements an


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Entry into an Amendment to the Employment Agreement - Brian Jones

Effective May 31, 2013, pursuant to authorization from the Compensation Committee, Nexstar Broadcasting Group, Inc. (the "Company"), entered into an amendment to the Executive Employment Agreement with Brian Jones, the Company's Executive Vice President and Co-Chief Operating Officer, effective on and as of June 1, 2008. The amendment extends the term of Mr. Jones' employment with the Company until June 1, 2018, with automatic renewal provided for successive one-year periods, subject to earlier termination under specified circumstances.

The amendment modifies Mr. Jones' base salary as follows:

Period                                    Base Salary
From June 1, 2013 through May 31, 2014   $     425,000
From June 1, 2014 through May 31, 2015   $     435,000
From June 1, 2015 through May 31, 2016   $     445,000
From June 1, 2016 through May 31, 2017   $     455,000
From June 1, 2017 through May 31, 2018   $     475,000

In addition, Mr. Jones will be eligible to receive an annual bonus in the amounts and on the dates set forth below at the discretion of our Chief Executive Officer, based on Mr. Jones' attainment of goals set by our Chief Executive Officer.

Period                        Base Salary
After the 2013 fiscal year   $     212,500
After the 2014 fiscal year   $     217,500
After the 2015 fiscal year   $     222,500
After the 2016 fiscal year   $     227,500
After the 2017 fiscal year   $     237,500

Entry into an Amendment to the Employment Agreement - Timothy C. Busch

Effective May 31, 2013, pursuant to authorization from the Compensation Committee, the Company, entered into an amendment to the Executive Employment Agreement with Timothy C. Busch, the Company's Executive Vice President and Co-Chief Operating Officer, effective on and as of June 1, 2008. The amendment extends the term of Mr. Busch's employment with the Company until June 1, 2018, with automatic renewal provided for successive one-year periods, subject to earlier termination under specified circumstances.

The amendment modifies Mr. Busch's base salary as follows:

Period                                    Base Salary
From June 1, 2013 through May 31, 2014   $     425,000
From June 1, 2014 through May 31, 2015   $     435,000
From June 1, 2015 through May 31, 2016   $     445,000
From June 1, 2016 through May 31, 2017   $     455,000
From June 1, 2017 through May 31, 2018   $     475,000

In addition, Mr. Busch will be eligible to receive an annual bonus in the amounts and on the dates set forth below at the discretion of our Chief Executive Officer, based on Mr. Busch's attainment of goals set by our Chief Executive Officer.

Period                       Base Salary
After the 2013 fiscal year   $     212,500
After the 2014 fiscal year   $     217,500
After the 2015 fiscal year   $     222,500
After the 2016 fiscal year   $     227,500
After the 2017 fiscal year   $     237,500

The foregoing descriptions are qualified in their entirety by reference to the text of the amendments filed as exhibits to this Current Report on Form 8-K.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description
10.1        Amendment to the Executive Employment Agreement,
            dated as of May 31, 2013, between Brian Jones and
            Nexstar Broadcasting Group, Inc.
10.2        Amendment to the Executive Employment Agreement,
            dated as of May 31, 2013, between Timothy C. Busch
            and Nexstar Broadcasting Group, Inc.


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