CTM Media Holdings, Inc. Enters into a Multi-Year Agreement with its Chairman Howard Jonas

STAMFORD, CT. – CTM Media Holdings, Inc. (OTC Pink Markets: CTMMA, CTMMB) today announced a five plus-year agreement with its Chairman, Howard Jonas that commences on the expiration of the current agreement in October 2014. The agreement includes the grant of 38,796 restricted shares of CTM’s Class B common stock in lieu of a $50,000 bonus and total compensation for the five plus-year period between October 16, 2014 and December 31, 2019 of $2,277,760.

CTM is entering into this agreement with Mr. Jonas at this time in anticipation of the expiration of Mr. Jonas’ current agreement, which expires on October 14, 2014, and the final vesting of the previously grant of restricted shares of CTM’s Class B common stock on October 14, 2013. In October 14, 2009, CTM’s Board of Directors granted Mr. Jonas, 1,800,000 restricted shares of CTM’s Class B common stock with a value of $1,250,000 on the date of grant in lieu of a cash base salary for five years.

CTM’s management expressed that it is pleased to recognize the tremendous effort and value Mr. Jonas continues to bring to the company as an active Chairman and key member of the management team, and to secure that ongoing contribution for the long term without taxing the company’s cash resources. The cash would be available for payment of dividends and for the working capital and growth capital necessary for the businesses.