Revisions to Schedules under [Sections 2.1 through 2.3(h)]. Notwithstanding anything in this Agreement to the contrary, Purchaser may revise, by providing written Notice to HoldCos, the Schedules under [Sections 2.1 through 2.3(h)] at any time on or before the Business

[[Sections 2.05(c), 2.16(a)(ii) and 8.02(c)])])]])])] set forth certain additional requirements to deliver or apply Cash Collateral hereunder. For purposes of this [Section 2.03], [Section 2.05(c)], [Section 2.16] and [Section 8.02(c)], “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the L/C Issuer and the Lenders, as collateral for the L/C Obligations, cash or deposit account balances pursuant to documentation in form and substance satisfactory to the Administrative Agent and the L/C Issuer (which documents are hereby consented to by the Lenders). Derivatives of such term have corresponding meanings. The Company hereby grants to the Administrative Agent, for the benefit of the L/C Issuer and the Lenders, a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked, non-interest bearing deposit accounts at JPMorgan.

[Sections 2.1(f)] “Committee” and 2.1(u) “MRCC” are deleted in their entirety and references to the terms “Committee” and “MRCC” shall be replaced with the term “Plan Administrator.”

[[Sections 2.07(d) and (e)])]])] are amended and restated in their entirety to read as follows:

[[Sections 2.09(c) and (d)])]])] of the Credit Agreement are amended and restated in their entirety to read as follows:

[[Sections 2.2(a) and 2.2(d)])]])] of the Business Financing Agreement are hereby amended to read as follows:

Revisions. The Board or the Designated Committee, as applicable and in its discretion, may change and otherwise revise the terms of Initial Awards and Annual Awards granted under this Policy, including, without limitation, the number of Shares subject thereto and type of Award.

Disclosure Schedules. All schedules referenced herein and attached hereto (each, a “Schedule” and, collectively, the “Disclosure Schedules”) are incorporated herein and expressly made a part of this Agreement as though completely set forth herein. The Disclosure Schedules have been arranged for purposes of convenience in separately numbered sections corresponding to the sections of this Agreement; however, any item disclosed in any part, subpart, section or subsection of the Disclosure Schedules referenced by a particular section or subsection in the Disclosure Schedules will be deemed to have been disclosed with respect to every other section and subsection in this Agreement if the relevance of such disclosure to such other section or subsection is readily apparent on its face. Any item of information, matter or document disclosed or referenced in, or attached to, the Disclosure Schedules will not # be used as a basis for interpreting the term “material” or other similar terms in this Agreement or to establish a standard of materiality, # represent a determination that such item or matter did not arise in the Ordinary Course of Business, # be deemed or interpreted to expand the scope of Emmis’ or Sinclair’s representations and warranties, obligations, covenants, conditions or agreements contained herein, # constitute, or be deemed to constitute, an admission of liability or obligation regarding such matter, # represent a determination that the consummation of the transactions contemplated hereby requires the consent of any third party, # constitute, or be deemed to constitute, an admission to any third party concerning such item or matter or # constitute, or be deemed to constitute, an admission or indication by Emmis or Sinclair that such item meets any or all of the criteria set forth in this Agreement for inclusion in the Disclosure Schedules. No disclosure in the Disclosure Schedules relating to any possible breach or violation of any Contract or Law will be construed as an admission or indication that any such breach or violation exists or has actually occurred. Capitalized terms used in the Disclosure Schedules and not otherwise defined therein have the meanings given to them in this Agreement.

Updated Schedules. Concurrently with the delivery of the Compliance Certificate referred to in [Section 6.02(b), (i)])] the following updated Schedules to this Agreement (which may be attached to the Compliance Certificate) to the extent required to make the representation related to such Schedule true and correct as of the date of such Compliance Certificate: [Schedules 1.01(c)], 5.10, 5.20(a) and 5.20(b) and (ii) copies of all material amendments to the Organization Documents of the Loan Parties.

[Schedules 6.10], 6.13, 6.17, 6.20(a), 6.20(b), 6.20(c), 11.02 and 11.06(e) are hereby replaced in their entirety with [Schedules 6.10], 6.13, 6.17, 6.20(a), 6.20(b), 6.20(c), 11.02 and 11.06(e) attached hereto, and the title of [Schedule 11.06(e)] appearing in the Table of Contents is hereby amended to replace the reference to “Closing” with a reference to “Third Amendment Effective Date”.