Exhibit 10.4

 

Form of

Cox Radio, Inc.

Long-Term Incentive Plan Grant Agreement

 

«First_Name» «Last»

 

Grant Date

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Type of Grant

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Number of Options

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Exercise Price

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[date]   Non-Qualified Stock Option   [number]   $[price]

 

Stock Option Term

 

You may exercise your options from the time they become vested (see below) until
10 years after the Grant Date, [date].

 

Normal Vesting Provisions

 

Your options become vested (i.e., exercisable) as follows:

 

•   60% of your option award becomes vested at the end of the 3rd year after the
Grant Date ([date]).

 

•   An additional 20% (for a total of 80%) of your option award becomes vested
at the end of the 4th year after the Grant Date [date].

 

•   An additional 20% (for a total of 100%) of your option award becomes vested
at the end of the 5th year after the Grant Date [date].

 

Special Vesting Provisions

 

You may be eligible to become 100% vested in your stock option grant if:

 

•   At least 6 months have passed since the grant date and

 

•   The closing price of Cox Radio stock reaches 140% of your exercise price
($xx.xx) at any time after the 6 month period and

 

•   The closing price remains at or above $xx.xx for 10 consecutive trading
days.

 

Termination Guidelines

 

If you terminate employment for reasons other than cause, retirement, death,
permanent disability or transferring to another Cox company, you will have 90
days from the date of termination (or until the expiration of the option term,
if that date is less than 90 days from the date of termination) to exercise any
vested stock options. Unvested stock options will be forfeited.

 

If you are terminated for cause, you will forfeit all benefits from the Plan and
all options (vested and unvested) will immediately be cancelled.

 

If you retire, die or become totally and permanently disabled, your stock
options will immediately 100% vest upon termination of employment and you (or
your beneficiary) will have one year from the date of termination (or until the
expiration of the option term, if that date is less than one year from the date
of termination) to exercise all vested options.

 

If you transfer to another Cox company after a date when any portion of this
award has become vested, you will retain the portion that is vested at the time
of transfer, but any unvested portion will be forfeited.

 

If you transfer to another Cox company prior to a date when any portion of this
award has become vested, then a portion of the option award will become vested
upon the date of transfer, as follows:

 

•   None of your award will vest if the transfer date is less than 6 months
after the Grant Date.

 

•   20% of your award will vest if the transfer date is at least 6 months but
less than 18 months after the Grant Date.

 

•   40% of your award will vest if the transfer date is at least 18 months but
less than 30 months after the Grant Date.

 

•   60% of your award will vest if the transfer date is at least 30 months but
less than 36 months after the Grant Date.

 

I wish to accept this award granted under the Cox Radio, Inc. Long-Term
Incentive Plan. I acknowledge that I have received a copy of the Plan Summary,
Plan Prospectus, and Legal Plan Document, and agree to all of the terms and
conditions contained in this agreement and the Legal Plan Document. In the event
of inconsistency between this agreement and the Legal Plan Document, the terms
of the Legal Plan Document shall control.

 

Signature:   

 

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       Date:  

 

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Return by [date] (in the envelope provided) to [name], Compensation Department
at Cox Enterprises, Inc.

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Form of

Cox Radio, Inc.

Long-Term Incentive Plan

Restricted Stock Grant Agreement

 

«First_Name» «Last»

 

Grant Date

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Type of Grant

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Number of Shares

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[date]   Restricted Stock   [number]

 

Vesting Provisions

 

These shares of restricted stock will become 100% vested on March 15, 2010 (the
“Vesting Date”), provided that you have been continuously employed by Cox Radio,
Inc. (the “Company”) through such date. Once vested, your shares will be
maintained in a book entry account position on the ledger of the Company’s stock
transfer agent or, in the Company’s sole discretion, in the form of a stock
certificate. If issued in the form of a stock certificate, the Company shall
retain physical control over such certificate(s), and you shall deliver a stock
power to the Company, endorsed in blank, relating to such certificate(s).

 

Termination Guidelines

 

If you terminate employment with the Company before the Vesting Date for any
reason other than for cause, retirement, death, or permanent disability, you
will forfeit all of these shares.

 

If you are terminated for cause before the Vesting Date you will forfeit all of
these shares.

 

If you retire, die or become totally and permanently disabled, your shares will
100% vest upon such termination of employment.

 

Continuing Resale Restrictions

 

After your shares have vested, at all times while you remain employed by the
Company or its affiliates you must retain a number of shares equal to sixty
percent (60%) of your original award, and you cannot resell or transfer such
shares. Your book entry position or stock certificate(s) will bear a legend or
stop-transfer instructions (as applicable) reflecting these restrictions.

 

I wish to accept this award granted under the Cox Radio, Inc. Long-Term
Incentive Plan. I acknowledge that I have received a copy of the Plan Summary,
Plan Prospectus, and Legal Plan Document. I agree to all of the terms and
conditions contained in this Agreement and the Legal Plan Document. In the event
of inconsistency between this Agreement and the Legal Plan Document, the terms
of the Legal Plan Document shall control.

 

Signature:   

 

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       Date:  

 

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Return (in the enclosed envelope) to:           [name]             [title]    
        [address]