Spanish Broadcasting System, Inc. Nonqualified Stock Option Agreement with Dan Mason (July 2003)

Summary

Spanish Broadcasting System, Inc. granted Dan Mason a nonqualified stock option to purchase 50,000 shares of Class A common stock at $8.60 per share under the company's 1999 Stock Option Plan. The option vests 20% immediately and 20% each year over the next four years, with full vesting by July 10, 2007. The option expires on July 10, 2013, unless terminated earlier, and is not transferable except as allowed by the plan. Dan Mason must comply with all terms of the plan and agreement.

EX-10.75 4 g87733exv10w75.txt STOCK OPTION AGREEMENT W/ DAN MASON Exhibit 10.75 [Spanish Broadcasting System, inc. Logo] July 11, 2003 Dan Mason 21701 Club Hollow Road Pooles, MD 20837 USA Dear Jack Langer: Pursuant to the terms and conditions of the Spanish Broadcasting System, Inc. 1999 Stock Option Plan (the "Plan"), you have been granted a Nonqualified Stock Option, to purchase 50,000 shares (the "Option") of Class A common stock as outlined below. Granted To: Dan Mason Granted Date: July 10, 2003 Option Granted: 50,000 Option Price per Share: $8.60 Total Cost to Exercise: $430,000.00 Expiration Date: July 10, 2013, unless terminated earlier. Vesting Schedule: 20% immediately, 20$ each year as follows: 10,000 on 07/10/2004 10,000 on 07/10/2005 10,000 on 07/10/2006 10,000 on 07/10/2007 Transferability: Not transferable except in accordance with the Plan. Spanish Broadcasting System, Inc. By: /s/ Raul Alarcon, Jr. ----------------------------- 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/ Dan Mason Date: 7/15/03 --------------- ------- Dan Mason