Exhibit 10.79
[Spanish Broadcasting System, inc. Logo]
December 10, 2003
Xxxxx Xxxxxxxx
00000 Xxxxxxx Xxx
Xxxxxxxxx, XX 00000
Dear Xxxxx Xxxxxxxx:
Pursuant to the terms and conditions of the Spanish Broadcasting System, Inc.
1999 Stock Option Plan (the "Plan") and/or your Employment Agreement, if
applicable, you have been granted a Nonqualified Stock Option, to purchase
72,682 shares (the "Option") of Class A common stock as outlined below.
Granted To: Xxxxx Xxxxxxxx
Granted Date: November 6, 2003
Option Granted: 76,682
Option Price per Share: $9.44 Total Cost to Exercise: $686,118.08
Expiration Date: November 6, 2013, unless terminated earlier.
Vesting Schedule: Special Vesting as follows:
24,239 on 11/06/2003
24,239 on 11/06/2004
24,239 on 11/06/2005
Transferability: Not transferable except in accordance with the Plan.
Spanish Broadcasting System, Inc.
By: /s/ Xxxx Xxxxxxx, Xx.
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By my signature below, I hereby acknowledge receipt of this Option granted on
the date shown above, which has been issued to me under the terms and conditions
of the Plan. I further acknowledge receipt of a copy of the Plan and agree to
conform to all of the terms and conditions of the Option and the Plan.
Signature: /s/ Xxxxx Xxxxxxxx Date: 12/29/03
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Xxxxx Xxxxxxxx
