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NXST > SEC Filings for NXST > Form 8-K on 1-Aug-2014All Recent SEC Filings




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.

On August 1, 2014, pursuant to authorization from the Compensation Committee, Nexstar Broadcasting Group, Inc. (the "Company") entered into an amendment to the Executive Employment Agreement with Thomas E. Carter, the Company's Chief Financial Officer, dated as of July 13, 2009. The amendment extends the term of Mr. Carter's employment with the Company until August 3, 2018, with automatic renewal provided for successive one-year periods, subject to earlier termination under specified circumstances.

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

Period                                        Base Salary
From August 3, 2014 through August 2, 2015   $     550,000
From August 3, 2015 through August 2, 2016   $     575,000
From August 3, 2016 through August 2, 2017   $     600,000
After August 2, 2017                         $     625,000

Mr. Carter will also be eligible to receive a targeted annual bonus in the amounts set forth below based on the achievement of goals established by our Chief Executive Officer and the Compensation Committee of the Board of Directors of the Company for such period.

Period                                     Base Salary
For the 2014 Fiscal Year                  $     275,000
For the 2015 Fiscal Year                  $     287,500
For the 2016 Fiscal Year                  $     300,000
For the 2014 Fiscal Year and Thereafter   $     312,500

Additionally, Mr. Carter will receive Restricted Stock Units equal to12,500 shares of the Company's Class A common stock, which shall vest over four years beginning on August 1, 2015. If Mr. Carter's employment shall terminate for any reason, other than in respect of a Company change of control, all unvested Restricted Stock Units shall be forfeited and cancelled.

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

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description
10.1        Amendment to Executive Employment Agreement, dated
            as of August 1, 2014, between Thomas E. Carter and
            Nexstar Broadcasting Group, Inc.

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