The company awards Pat Walsh with a new deal through 2019 as Emmis’ President and Chief Operating Officer. His base pay will be $625,000, with annual increases of up to 2.5%. The company retains the right to pay up to ten percent of Walsh’s base salary in shares of common stock, and has the right to pay any incentive compensation in cash or shares of common stock. Walsh’s annual incentive compensation targets for fiscal years 2018, 2019 and 2020 are 100% of his base compensation.
