(14)	Commitments

(a)

Leases

We lease office space and facilities and certain equipment under operating leases that expire at various dates through 2082. Certain leases provide for base rental payments plus escalation charges for real estate taxes and operating expenses.

At December 31, 2016, future minimum lease payments under such leases are as follows (in thousands):

	Operating
	leases
Year ending December 31:
2017		2,967
2018		1,644
2019		1,271
2020		1,062
2021		951
Thereafter		5,475
Total minimum lease payments	$	13,370

Subsequent to year end, December 31, 2016, the company entered in to additional lease commitments of $8.9 million for the years ended December 31, 2017 through 2032. The total minimum lease payments will increase by $8.3 million, from $13.4 million to $21.7 million, as $0.6 million of previously disclosed 2017 future minimum lease payments will be cancelled as part of entering into a new agreement.

In connection with an operating lease, we have a standby letter of credit of $0.1 million, which was required under the lease terms.

Total rent expense for each of the years ended December 31, 2016 and 2015 amounted to $3.3 million.

We have agreements to sublease our radio frequencies and portions of our tower sites and buildings. Such agreements provide for payments through 2038. The future minimum rental income to be received under these agreements as of December 31, 2016 is as follows (in thousands):

Year ending December 31:
2017	$	1,081
2018		811
2019		422
2020		162
2021		131
Thereafter		695
	$	3,302

(b)

Employment and Service Agreements

At December 31, 2016, we are committed to employment and service contracts for certain executives, on-air talent, general managers, and others expiring through 2021. Future payments under such contracts are as follows (in thousands):

Year ending December 31:
2017	$	9,412
2018		6,623
2019		1,168
2020		519
2021		204
Thereafter		—
	$	17,926

Included in the future payments schedule is our Chief Executive Officer’s (“CEO”) employment agreement, which may expire on December 31, 2018. Our CEO’s annual base salary is $1.75 million, and he is eligible to receive a performance bonus of $750 thousand if the performance criteria are achieved for the year. In addition, the Board of Directors may also award a discretionary bonus, as it deems appropriate. During the year ended December 31, 2014, our CEO was awarded a retention bonus totaling $1.6 million, which was recorded in corporate expenses. The retention bonus was paid monthly over time of which $0.6 million was paid in 2015 and the remaining $0.5 million was paid in 2016.

Certain employees’ contracts provide for additional amounts to be paid if station ratings or cash flow targets are met.

(c)

401(k) Profit-Sharing Plan

In September 1999, we adopted a tax-qualified employee savings and retirement plan (the “401(k) Plan”). We can make matching and/or profit-sharing contributions to the 401(k) Plan on behalf of all participants at our sole discretion. All full-time employees are eligible to voluntarily participate in the 401(k) Plan after their 90 day introductory period. To date, we have not made contributions to this plan.

(d)

Other Commitments

At December 31, 2016, we have commitments to vendors that provide us with goods or services. These commitments included services for rating services, programming contracts, software contracts and others.

Future payments under such commitments are as follows (in thousands):

Year ending December 31:
2017	$	10,096
2018		7,362
2019		6,252
2020		5,848
2021		589
Thereafter		235
	$	30,382