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CCMO > SEC Filings for CCMO > Form 8-K on 14-Jun-2013All Recent SEC Filings

Show all filings for CC MEDIA HOLDINGS INC | Request a Trial to NEW EDGAR Online Pro



Change in Directors or Principal Officers

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

On June 12, 2013, the Compensation Committee of the board of directors of CC Media Holdings, Inc. (the "Company") approved certain compensation changes and relocation benefits for John E. Hogan, who serves as the Company's Chairman and Chief Executive Officer-Clear Channel Media & Entertainment, in connection with Mr. Hogan's relocation from the Company's offices in San Antonio to the Company's offices in New York City. In connection with Mr. Hogan's relocation, the Compensation Committee approved: (1) an increase in Mr. Hogan's annual base salary from $1,000,000 to $1,125,000, effective June 3, 2013; (2) an increase in Mr. Hogan's target performance bonus for 2013 from $1,200,000 to $1,375,000, which increase in target performance bonus shall be prorated for the portion of 2013 beginning on June 3, 2013; (3) a housing allowance of $25,000 per month (fully grossed-up for certain applicable taxes) for a period of 18 months; and
(4) a payment of $100,000 (less applicable taxes) for relocation-related expenses.

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