RESTRICTED STOCK AGREEMENT
THIS RESTRICTED STOCK AGREEMENT (the "Agreement"), made as of this 5th day of September, 2000,
between SBA Communications Corporation (the "Corporation"), and Thomas P. Hunt ("Participant").
WHEREAS, Participant is an employee, director or consultant of the Corporation;
WHEREAS, the Corporation has adopted the 1999 Equity Participation Plan (the "Plan") in order to provide its
employees, directors and consultants with incentives to achieve long-term corporate objectives; and
WHEREAS, the Corporation's Board of Directors has granted Stock Purchase Rights under the Plan to the
Participant on the terms and conditions set forth below;
NOW, THEREFORE, in consideration of the payment of the purchase price set forth in paragraph 1 below and
the various covenants and agreements herein contained, and intending to be legally bound hereby, the parties
hereto agree as follows:
1. Grant of Restricted Stock.
The Corporation hereby grants to Participant a total of Twenty Thousand (20,000) shares of the Class A
common stock, $.01 par value per share, of the Corporation (the "Restricted Stock"), subject to the transfer
restrictions and other conditions set forth in this Agreement. Participant shall pay to the Corporation the amount
of $.05 per share for such Restricted Stock, in cash (the "Purchase Price"). At the time of issuance, such
Restricted Shares shall be fully paid and nonaccessible and shall be registered under the Securities Act of 1933,
as amended, and the Corporation shall use its reasonable best efforts to maintain an effective registration
statement under the Securities Act covering such Restricted Stock.
The Corporation shall cause the Restricted Stock to be issued and a stock certificate or certificates representing
the Restricted Stock to be registered in the name of Participant promptly upon execution of this Agreement and
the payment of the Purchase Price therefor, but the stock certificate or certificates shall be delivered