Addendum to Employment Agreement between Nexstar Broadcasting Group, Inc. and Tim Busch

Summary

This addendum updates the employment agreement between Nexstar Broadcasting Group, Inc. and Tim Busch. Effective October 1, 2002, Tim Busch's role expands to include operational oversight of additional television markets, and his title changes to Senior Vice President and Regional Manager. The employment term is extended through December 31, 2007. The addendum also increases his base salary and annual bonus targets over the next several years. All other terms of the original agreement remain unchanged.

EX-10.69 6 dex1069.txt ADDENDUM TO EMPLOYMENT AGREEMENT DATED AUGUST 14, 2002 Exhibit 10.69 TO: Tim Busch FR: Perry A. Sook DA: August 14, 2002 RE: Addendum to Employment Agreement Pursuant to our discussions regarding your increasing operational responsibilities with the company, this memorandum will serve as an addendum to your employment agreement with Nexstar Broadcasting, dated September 11, 2000. Section 1. Position and Duties. Effective October 1, 2002 your position and duties will be expanded to include operational oversight of the company's television stations in the Erie, PA, Wilkes-Barre/Scranton, PA and Rochester, NY markets, and other markets and duties as assigned by the Chief Executive Officer. Your title will be changed to Senior Vice President and Regional Manager. Section 2. Term of Employment. The term of this agreement is hereby extended through December 31, 2007. Section 4. Compensation. Section 4(a), base salary is hereby amended as follows: Effective October 1, 2002 $195,000 From October 1, 2003 to September 30, 2004 $205,000 From October 1, 2004 to September 30, 2005 $215,000 From October 1, 2005 to September 30, 2006 $225,000 Effective October 1, 2006 and thereafter $235,000 Section 4(b) is hereby amended to reflect annual bonus targets as follows: After the 2002 fiscal year: $60,000. After the 2003 fiscal year: $65,000. After the 2004 fiscal year: $70,000. After the 2005 fiscal year $75,000 After the 2006 fiscal year and each subsequent year: $80,000. All other elements of your employment agreement with Nexstar Broadcasting will remain in full force and effect. Please indicate your agreement with and acceptance of the terms of this addendum by signing below and sending one original to my attention at the corporate office. Sincerely, Agreed and Accepted: /s/ Perry A. Sook /s/ Tim Busch - ------------------------- -------------------------- Perry A. Sook Tim Busch President and Chief Executive Officer Date: Nexstar Broadcasting Group, Inc. 200 Abington Executive Park, Suite 201 Clarks Summit, PA 18411 ###-###-#### fax ###-###-####