Nonqualified Stock Option Agreement between Spanish Broadcasting System, Inc. and Joseph A. García

Summary

Spanish Broadcasting System, Inc. has granted Joseph A. García the option to purchase 25,000 shares of Class A common stock at $10.79 per share under the company's 1999 Stock Option Plan. Half of the options vest immediately, and the remaining half vest one year later. The option expires on March 7, 2015, unless terminated earlier, and is not transferable except as allowed by the plan. Joseph A. García has acknowledged and agreed to the terms of the grant.

EX-10.2 4 g95163exv10w2.htm NONQUALIFIED STOCK OPTION AGREEMENT/JOSEPH GARCIA exv10w2

Exhibit 10.2

March 15, 2005

Joseph A. García
14021 SW 67 Ct.
Miami, FL 33158

Dear Joseph A. García:

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 25,000 shares (the “Option”) of Class A common stock as outlined below.


Granted To:	Joseph A. García

Grant Date:	March 7, 2005

Options Granted:	25,000

Option Price per Share:	$10.79	Total Cost to Exercise:	$269,750.00

Expiration Date:	March 7, 2015, unless terminated earlier.

Vesting Schedule:	50% immediately, 50% first yr as follows:

	12,500 on 03/07/2005
	12,500 on 03/07/2006

Transferability:	Not transferable except in accordance with the Plan.


	Spanish Broadcasting System, Inc.

	By:	/s/ Raúl Alarcón, Jr.
		Raúl Alarcón, 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/ Joseph A. García	Date:	3/15/05
	Joseph A. García


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