<PAGE>

                           RESTRICTED STOCK AGREEMENT

         THIS AGREEMENT, made as of <<Date_of_Grant>>, by and between SAGA
COMMUNICATIONS, INC., a Delaware corporation (the "Corporation"), and
<<Employee>> (the "Employee").

                               W I T N E S S E T H

         WHEREAS, the Employee is now employed by the Corporation or a
subsidiary of the Corporation and the Corporation desires to have the Employee
remain in such employment and to afford him the opportunity to acquire, or
enlarge, his stock ownership in the Corporation so that the Employee may have a
direct proprietary interest in the Corporation's success.

         NOW, THEREFORE, in consideration of the covenants and agreements herein
contained, the parties hereto hereby agree as follows:

         1.       GRANT OF RESTRICTED STOCK

                  The Corporation grants to the Employee, and the Employee
accepts from the Corporation, <<Shares_Restricted_Stock>> shares of Class A
Common Stock of the Corporation ("Restricted Stock") subject to the restrictions
and terms contained in this Agreement and the Saga Communications, Inc. 2005
Incentive Compensation Plan (the "Plan"), as amended from time to time. In the
event of a conflict between the terms of this Agreement and the terms of the
Plan, the terms of the Plan shall govern.

         2.       RESTRICTIONS ON TRANSFERABILITY

                  Restricted Stock may not be transferred, pledged, assigned or
otherwise alienated or hypothecated until the lapse of the Restricted Period
specified in Section 4 below. Prior to the end of the Restricted Period, all
rights with respect to Restricted Stock shall be exercisable during the
Participant's lifetime only by the Participant or the Participant's legal
representative. The shares of Restricted Stock will be held in book entry form
under the name of the Plan and Employee will be listed as the beneficial owner
of the Restricted Stock that has not been forfeited or lapsed and issued as
provided in paragraphs 5 and 6 below. Employee shall have voting rights and
shall be entitled to receive dividends and other distributions (provided,
however, that dividends or other distributions paid in any form other than cash
shall be subject to the same restrictions, forfeitability, terms and conditions
as are applicable to the Restricted Stock until such time as the Restricted
Period of the Restricted Stock with respect to which such distributions have
been made, paid or declared, shall have lapsed).

<PAGE>

         3.       CERTIFICATE LEGEND

                  a.       Any certificate representing shares of Restricted
                           Stock shall bear the following legend:

                           "The sale or other transfer of the shares of stock
                           represented by this certificate, whether voluntary,
                           involuntary or by operation of law, is subject to
                           certain restrictions on transfer set forth in the
                           Saga Communications, Inc. 2005 Incentive Compensation
                           Plan (the "Plan"), rules and administrative
                           guidelines adopted pursuant to the Plan and an
                           Agreement dated <<Date_of_Grant>>. A copy of the
                           Plan, such rules and guidelines and such Agreement
                           may be obtained from the Secretary of the
                           Corporation."

                  b.       In addition, if Employee is an affiliate of the
                           Corporation, as such term is defined and interpreted
                           under federal securities law, the certificate shall
                           include the standard legend for "affiliate shares"
                           and may only be transferred or sold in accordance
                           with federal securities laws.

         4.       RESTRICTED PERIOD

                  The Restricted Period for portions of Restricted Stock granted
under this Agreement shall lapse according to the following schedule:

<TABLE>
<CAPTION>
                                           PORTION OF RESTRICTED STOCK FOR
ANNIVERSARIES OF DATE OF GRANT                WHICH RESTRICTIONS LAPSE
<S>                                        <C>
         March 1, 2006                                   20%
         March 1, 2007                                   20%
         March 1, 2008                                   20%
         March 1, 2009                                   20%
         March 1, 2010                                   20%
</TABLE>

         Notwithstanding the foregoing schedule, the Restricted Period shall
lapse with respect to all Restricted Stock upon the occurrence of a Change in
Control of the Corporation, as defined in the Plan, or if the Committee
determines that a Change in Control has occurred, if Employee is an "employee,"
as defined in the Plan, upon the occurrence or deemed occurrence of such Change
in Control. With respect to any fractional shares resulting from the application
of the 20% times the total amount of the Restricted Stock, such fractional
shares shall cumulate and be distributed on the lapsing of the last Anniversary
Date. If this is not possible, Employee will receive the cash value of any
remaining fractional shares.

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<PAGE>

         5.       TERMINATION OF EMPLOYMENT

                  If the status of Employee as an "employee" as defined in the
Plan) of the Corporation terminates for any reason prior to the lapse of the
Restricted Period, any shares of Restricted Stock as to which the Restricted
Period has not yet lapsed shall be forfeited by Employee. Whether an authorized
leave of absence or absence for military or government service shall constitute
termination of employment shall be determined by the Committee authorized to
administer the Plan; and such Committee shall determine whether a termination is
with or without Cause, a voluntary retirement, or due to Disability. The term
"subsidiary" as used in this Agreement shall mean any subsidiary of the
Corporation as defined in Section 424(f) of the Code. The term "parent" as used
in this Agreement shall mean any parent of the Corporation as defined in Section
424 of the Code.

         6.       ISSUANCE OF SHARES

                  Upon the lapse of the Restricted Period with respect to
portions of Restricted Stock, Employee shall be entitled to (i) delivery of
certificates representing shares of the common stock of the Corporation formerly
restricted (and any applicable stock distributions) and to have removed from
such certificates the legend required by Article 3a above, or, (ii) in the case
of Restricted Stock Units, at the option of the Employee, payment of the
equivalent cash value of such common stock. Transfer by the Corporation of such
shares or payment of cash shall occur as promptly as practicable after the lapse
of the relevant Restricted Period.

         7.       COMPLIANCE WITH LAW AND REGULATIONS

                  This Agreement and the obligation of the Corporation to
deliver shares hereunder, shall be subject to all applicable Federal and State
laws, rules and regulations and to such approvals by any government or
regulatory agency as may be required. The Corporation shall not be required to
issue or deliver any certificates for shares of stock prior to (a) the listing
of such shares on any stock exchange in which the stock may then be listed and
(b) the completion of any registration or qualification of such shares under any
Federal or State law, or any rule or regulation of any government body which the
Corporation shall, in its sole discretion, determine to be necessary or
advisable. Moreover, the Corporation shall not be required to deliver shares if
the transfer or the receipt of such shares of stock would be contrary to
applicable law.

         8.       NOTICE

                  Every notice or other communication relating to this Agreement
shall be in writing, and shall be mailed to or delivered to the party for whom
it is intended at such address as may from time to time be designated by it in a
notice mailed or delivered to the other party as herein provided; provided that,
unless and until some other address is so designated, all notices or
communications by the Employee to the Corporation shall be mailed or delivered
to the Corporation at its office at 73 Kercheval Avenue, Grosse Pointe Farms, MI
48236, Attention: Chief Financial Officer, and all notices or communications by
the Corporation to the Employee may be given to the Employee personally or may
be mailed to him or her at the address shown below his or her signature to this
Agreement.

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<PAGE>

         9.       ADJUSTMENTS

                  The provisions of Article VI of the Plan are incorporated
herein.

         10.      NO RIGHT TO CONTINUED EMPLOYMENT

                  This Agreement shall not confer upon Employee any right with
respect to continuance of employment by the Corporation or any subsidiary or
parent, nor shall it interfere in any way with the right of the Employee's
employer to terminate his employment at any time.

         11.      EMPLOYEE BOUND BY PLAN

Employee hereby acknowledges receipt of a copy of the Plan and agrees to be
bound by all terms and provisions thereof.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the day and year first above written.

                                        SAGA COMMUNICATIONS, INC.

                                        By:_____________________________________
                                               Marcia K. Lobaito
                                               Sr. Vice President/Secretary

EMPLOYEE:

<<Employee>>

__________________________________
Signature

__________________________________
Social Security Number

<<Address_Line_1>>
<<City>>, <<State>> <<ZIP_Code>>

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