Document:

Exhibit 10.35C

 Exhibit 10.35C 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the
“Agreement”) among SBA COMMUNICATIONS CORPORATION, a Florida corporation (the “Company”) and JEFFREY A. STOOPS (the “Executive”) is made and entered into as of January 1, 2008 (the
“Restatement Date”). 
 W I T N E S S E T H : 
 WHEREAS, the Company and its subsidiaries (collectively, the “Company Group”) engage in the business of developing, leasing and maintaining wireless telecommunications tower sites and other related
businesses; 
 WHEREAS, the Company and the Executive have previously entered into an Employment Agreement, dated February 28, 2003, as
amended on June 24, 2005 and again on November 10, 2005 (the “Original Agreement”); 
 WHEREAS, the Company and
the Executive understood that the Original Agreement would need to be revised in order to comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury regulations promulgated thereunder (the
“Code”), and the Company and the Executive now desire to revise the Original Agreement to bring it into compliance; and 
 WHEREAS, the Company and the Executive wish to replace the Original Agreement as of the Restatement Date with the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, it is hereby agreed by and between the parties as follows: 
 1. EMPLOYMENT. The Company hereby agrees to employ the Executive and the Executive hereby agrees to be employed by the Company on the terms and conditions set forth herein. 
 2. TERM. The term of employment of the Executive by the Company Group hereunder commenced as of January 1, 2003 (the “Effective
Date”) and shall end December 31, 2008 (the “Initial Term”), unless sooner terminated as hereinafter provided or automatically extended in accordance with Section 7(a). All references herein to the
“Term” shall refer to both the Initial Term and any automatic extension of the term that occurs in accordance with Section 7(a) during the Initial Term. 
 3. POSITION AND DUTIES. 
 The Executive shall serve as the president and chief executive officer of the
Company and any other positions within the Company Group as determined from time to time by the Board of Directors of the Company (the “Company Board”). The Executive shall generally perform the duties of a president and chief
executive officer for the Company and shall have such specific responsibilities, duties and authorities as shall from time to time be assigned by the Company Board or the applicable subsidiary. The Executive shall devote substantially all his
working time and efforts to the business and affairs of the Company Group. 
  

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 4. COMPENSATION AND RELATED MATTERS. 
 (a) Salary. During the Term, the Executive shall be paid an annual salary at a rate of $416,394 per annum, which amount may be increased but
not decreased by the Company Board (the “Base Salary”). The Company shall pay the Base Salary in accordance with its regular payroll practices as in effect from time to time. Compensation of the Executive by payments of Base Salary
shall not be deemed exclusive and shall not prevent the Executive from participating in any other compensation or benefit plan of the Company Group. 
 (b) Bonuses. In addition to the Base Salary payable to the Executive hereunder, the
Executive shall be entitled to receive a bonus (the “Bonus”) hereunder for each calendar year (prorated for periods of service less than a full calendar year, including any final year of service) to the extent earned in accordance
with performance targets, measurements and such other criteria as shall be established for such year by the Company and the Company on or before March 31st of such year. The annual amount of Bonus paid pursuant to this Section 4(b) shall not be greater than the Base Salary paid to the Executive for such year. The Bonus shall be payable in accordance with the
Company’s customary bonus payment practices, but in no event later than March 15th of the succeeding calendar year. 
 (c) Expenses. During the Term, the Executive shall be entitled to receive payment or reimbursement for all reasonable expenses incurred by
the Executive in performing services hereunder, including all expenses of travel and living expenses while away from home on business or at the request of and in the service of the Company Group, cell phone expenses and dues and seminar fees
(including, without limitation, the cost of seminars, educational courses and license fees not to exceed $5,000 per annum necessary for the Executive to maintain his active status as a Florida licensed attorney at law); provided that such
expenses are incurred and accounted for in accordance with the policies and procedures then established by the Company Group from time to time; provided further that the reimbursement of dues and seminar fees in any one calendar year shall
not impact the amount of dues and seminar fees reimbursable in any other calendar year; provided further that reimbursement shall be made as soon as practicable after a request for reimbursement is received by the Company Group in
accordance with the Company’s customary expense reimbursement practices, but in no event later than the last day of the calendar year next following the calendar year in which the expense is incurred. 
 (d) Other Benefits. The Executive shall be entitled to participate in or receive benefits under any employee benefit plan or arrangement
made available by the Company Group in the future to its executives and key management employees, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements, which benefits shall include
disability insurance for as long as the Company Group generally provides disability insurance to its officers. Any payments, bonuses or benefits payable to the Executive hereunder in respect of any calendar year during which the Executive is
employed by the Company Group for less than the entire such year shall, unless otherwise provided in the applicable plan or arrangement, be prorated in accordance with the number of days in such calendar year during which the Executive is so
employed. 
  

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 (e) Group or Family Medical Coverage. The Company shall immediately cause to be provided
group or family medical insurance coverage to the Executive and his dependents under a plan for employees of the Company Group and such plan shall include reasonable coverage for medical, hospital, surgical and major medical expenses and shall be
subject to such deductibles as applicable to other Company Group employees. 
 5. WITHHOLDING. Both the Executive and the Company agree that
all amounts paid pursuant to this Agreement shall be subject to all applicable federal, state, local and foreign withholding requirements. 
 6. TERMINATION. Subject to the provisions set forth in this Section 6, the Company Group shall have the right to terminate the Executive’s employment hereunder, and the Executive shall have the right to resign his employment with
the Company Group, at any time for any reason or for no stated reason. For purposes of this Agreement, the terms “terminate,” “terminated,” “termination” and “resignation” mean a termination of the
Executive’s employment that constitutes a Separation from Service (as defined in Section 6(e)(v) hereof). 
 (a)
General. Upon a termination of the Executive’s employment for any reason, he shall be entitled to receive the following amounts on the next regularly scheduled payroll date after the date of the Executive’s termination of
employment: (i) any accrued and unpaid Base Salary determined as of his date of termination, (ii) a cash payment (calculated on the basis of his Base Salary then in effect) for all unused vacation days which the Executive may have accrued
as of his date of termination and (iii) any unpaid reimbursement for business expenses the Executive is entitled to receive under Section 4(c) above. 
 (b) Termination for Cause; Resignation Without Good Reason. 
 (i) If, prior to the expiration
of the Term, the Executive’s employment with the Company Group is terminated by the Company Group for Cause (as defined below) or if the Executive resigns without Good Reason (as defined below), he shall be entitled to the payments set forth in
Section 6(a). Except to the extent required by the terms of any applicable compensation or benefit plan or program or otherwise required by applicable law, the Executive shall have no right under this Agreement or otherwise to receive any other
compensation or to participate in any other plan, program or arrangement after such termination or resignation of employment with respect to the year of such termination or resignation and later years. 
 (ii) “Cause” means any of the following events: (A) the Executive’s willful material violation of any law or regulation
applicable to the business of the Company Group; (B) the Executive’s conviction of, or plea of “no contest” to, a felony; (C) any willful perpetration by the Executive of an act involving moral turpitude or common law fraud
whether or not related to his activities on behalf of the Company Group; (D) any act of gross negligence by the Executive in the performance of his duties as an employee of the Company Group; (E) any material violation of the employee
manuals of the Company Group, as in effect from time to time; or (F) any willful misconduct by the Executive that is materially injurious to the financial condition, business, or reputation of, or is otherwise materially injurious to, the
Company Group. 
  

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 (iii) Termination of the Executive’s employment for Cause shall be communicated by delivery to the
Executive of a written notice from the Company Board and the Company Board stating that the Executive will be terminated for Cause, specifying the particulars thereof and the effective date of such termination; provided, however, that
upon receipt of such notice, the Executive shall have (A) an opportunity to cure the matter constituting Cause within a measurable period of time and (B) an opportunity, together with his counsel, to be heard by the Company Board and the
Company Board. The date of a resignation by the Executive shall be the date specified in a written notice of resignation to the Company. The Executive shall provide at least 30 days’ advance written notice of resignation without Good Reason;
provided, however, that the Company Group, in its sole discretion, may waive the notice requirement in whole or in part. 
 (c)
Termination Without Cause; Resignation for Good Reason. 
 (i) If, prior to the expiration of the Term, the Executive’s
employment with the Company Group is terminated by the Company Group without Cause or if the Executive resigns from his employment hereunder for Good Reason, then in addition to the amounts set forth in Section 6(a), the Executive shall be
entitled to the following payments (collectively, the “Severance Payments”): (A) a pro rata portion of the Bonus for the year in which the termination or resignation occurs calculated by multiplying (x) the Bonus for the
year of termination (based and on the assumption that all performance targets have been or will be achieved) by (y) a fraction, the numerator of which is the number of days the Executive was employed during the year of termination and
denominator of which is 365; and (B) a payment equal to three (3) times the sum of (x) the Reference Salary, (y) the Reference Bonus and (z) the Reference Benefits Value (each as defined below). 
 (ii) Subject to Section 6(e) hereof, the Severance Payments shall be payable in a lump sum on the first business day of the third calendar month
following the calendar month in which the Executive’s termination or resignation becomes effective in accordance with this Section 6(c). 
 (iii) Payment of the Severance Payments, whether pursuant to this Section 6(c) or pursuant to Section 7, shall be contingent upon the Executive executing a full release and waiver of claims against the Company Group (which release
and waiver of claims, once executed and irrevocable, shall not apply to the Company’s obligation to make the Severance Payments hereunder), in a form approved by the Company Board, which becomes irrevocable not later than the last day of the
second calendar month following the calendar month in which the Executive’s termination or resignation becomes effective in accordance with this Section 6(c). 
 (iv) “Reference Benefits Value” means the greater of (1) $33,560 and (2) the value of all medical, dental, health, life, and other fringe benefit plans and arrangements applicable to the
Executive and his dependents for the year in which the termination occurs. 
 (v) “Reference Bonus” means the greater of
(1) $312,295.50, (2) 75% of the Executive’s target Bonus for the year in which the termination occurs and (3) 100% of the Executive’s Bonus for the year immediately preceding the year in which the Executive’s
termination of employment occurred. 
  

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 (vi) “Reference Salary” means the greater of (1) $416,394 and (2) the
Executive’s annual rate of Base Salary for the year in which the termination occurs. 
 (vii) Resignation for “Good
Reason” means the occurrence of any of the following events: (A) the Executive’s position, title, duties, and reporting responsibilities with the Company in effect on the Effective Date become less favorable in any material
respect, (B) a reduction in the Base Salary, Bonus or material benefits as of the Effective Date or (C) the relocation of the Executive’s principal place of business to a location that is more than twenty (20) miles from the
Executive’s primary business location on the Effective Date without the Executive’s consent. In order to constitute Good Reason, (x) the Executive must provide written notification of his intention to resign within thirty
(30) days after the Executive knows or has reason to know of the occurrence of any such event, and (y) such event or condition is not corrected, in all material respects, by the Company within twenty (20) days of its receipt of such
notice and (z) the Executive resigns his employment with the Company and the Company not more than thirty (30) days following the expiration of the 20-day period described in the foregoing clause (y). 
 (viii) The date of termination of employment without Cause shall be the date specified in a written notice of termination to the Executive. The date of
resignation for Good Reason shall be the date specified in a written notice of resignation from the Executive to the Company and the Company; provided, however, that no such written notice shall be effective unless the cure
period specified in Section 6(c)(vii) above has expired without the Company Group having corrected the event or events subject to cure. 
 (d) Disability; Death. If, as a result of the Executive’s incapacity due to physical or mental illness (such incapacity being determined by the Company Group in its reasonable discretion), the Executive shall have been
absent from his full-time duties as described hereunder for the entire period of six (6) consecutive months, the Executive’s employment shall terminate at the end of the six (6) month period. Upon a termination pursuant to this
Section 6(d) or as a result of the Executive’s death, the Executive (or his estate, as applicable) shall be entitled to the benefits set forth in Section 6(a). Except to the extent required by the terms of any applicable compensation
or benefit plan or program or otherwise required by applicable law, the Executive shall have no right under this Agreement or otherwise to receive any other compensation or to participate in any other plan, program or arrangement after such
termination. 
 (e) Section 409A Compliance. 
 (i) If, at the time of the Executive’s termination or resignation with the Company Group, the Executive is a Specified Employee (as defined below),
then any amounts payable to the Executive pursuant to this Agreement prior to the 6-month anniversary of the Executive’s date of termination or resignation (the “Short-Term Deferral Date”) shall be delayed and not paid to the
Executive until the first business day following the Short-Term Deferral Date, at which time such delayed amounts will be paid to the Executive in a cash lump sum (the “Catch-Up Amount”). 
  

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 (ii) If payment of an amount is delayed as a result of this Section 6(e), such amount shall be
increased with interest from the date on which such amount would otherwise have been paid to the Executive but for this Section 6(e) to the day prior to the date the Catch-Up Amount is paid. The rate of interest shall be the applicable
short-term federal rate applicable under Section 7872(f)(2)(A) of the Code for the month in which the date of the Executive’s termination or resignation occurs. Such interest shall be paid at the same time that the Catch-Up Amount is
paid. 
 (iii) If the Executive dies on or after the date of the Executive’s termination or resignation and prior to the Short-Term
Deferral Date, any amount delayed pursuant to this Section 6(e) shall be paid to the Executive’s estate or beneficiary, as applicable, together with interest, within 30 days following the date of the Executive’s death.

 (iv) “Specified Employee” has the meaning set forth in Section 409A(a)(2)(B)(i) of the Code. The determination
of whether the Executive constitutes a Specified Employee on the date of his termination or resignation shall be made in accordance with the Company’s established methodology for determining Specified Employees. 
 (v) “Separation from Service” means a “separation from service” from the Company Group within the meaning of the default
rules under the final regulations issued pursuant to Section 409A of the Code. 
 (vi) The provisions of this
Section 6(e) shall apply notwithstanding any provision of this Agreement related to the timing of payments following the Executive’s termination or resignation. 
 7. CHANGE IN CONTROL. 
 (a) The Term shall
automatically be extended for three (3) years following the effective date of a Change in Control of the Company (as defined below). 
 (b) A “Change in Control” shall be deemed to have occurred when: 
 (i) any person other than Steven E. Bernstein
is or becomes the “beneficial owner” (as defined) in Rule 13d-3 of the Exchange Act, directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the combined voting power of the Company’s
then- outstanding securities; or 
 (ii) the following individuals cease for any reason to constitute a majority of the number of directors
then serving: individuals who constitute the Company Board as of the Effective Date and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including, but not
limited to, a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Company Board or nomination for election by the Company’s shareholders was approved or recommended by a vote of at
least two-thirds (2/3) of the directors then still in office who either were directors on the date hereof or whose appointment, election or nomination for election was previously so approved or recommended; or 
  

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 (iii) there is consummated a merger or consolidation of the Company, other than (A) a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity or any parent thereof), in combination with the ownership of any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any subsidiary, at least fifty percent (50%) of the combined voting
power of the securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (B) a merger or consolidation effected to implement a recapitalization of the Company (or
similar transaction) in which no person is or becomes the beneficial owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such person any securities acquired directly from the Company or
its affiliates other than in connection with the securities acquired directly from the Company or its affiliates other than in connection with the acquisition by the Company or its affiliates of a business) representing fifty percent (50%) or
more of the combined voting power of the Company’s then outstanding securities; or 
 (iv) the shareholders of the Company approve a
plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition by the Company of
all or substantially all of the Company’s assets to an entity, at least fifty percent (50%) of the combined voting power of the voting securities of which are owned by shareholders of the Company in substantially the same proportions as
their ownership of the Company immediately prior to such sale. 
 8. REDUCTION OF PAYMENTS. 
 (a) In the event that any amount or benefit paid, distributed or otherwise provided to the Executive by the Company, whether pursuant to this Agreement or
otherwise (collectively, the “Covered Payments”), is or becomes subject to the tax (the “Excise Tax”) imposed under Section 4999 of the Internal Revenue Code, as amended (the “Code”), or any
similar tax that may hereafter be imposed, the Company shall have the right to reduce the amount of the Severance Payments payable to the Executive under this Agreement such that the present value of all Covered Payments (as determined under the
Code and the applicable regulations) does not constitute a “parachute payment” for purposes of Section 280G of the Code. In making any such reduction, the Company shall reduce the amount described in Section 6(c)(i)(B) hereof
prior to reducing the amount described in Section 6(c)(i)(A) hereof. 
 (b) For purposes of determining whether any of the Covered
Payments will be subject to the Excise Tax: 
 (i) such Covered Payments will be treated as “parachute payments” within the meaning
of Section 280G of the Code, but no “parachute payments” in excess of the “base amount” shall be treated as subject to the Excise Tax, unless, and except to the extent that, 

  

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in the opinion of the Company’s independent certified public accountants or tax counsel selected by such accountants (the
“Accountants”), there is no substantial authority that such Covered Payments (in whole or in part) either do not constitute “parachute payments” or represent reasonable compensation for services actually rendered (within
the meaning of Section 280G(b)(4) of the Code) in excess of the “base amount”, and 
 (ii) the value of any non-cash benefits
or any deferred payment or benefit shall be determined by the Accountants in accordance with the principles of Section 280G of the Code. 
 (c) The Company shall apply the provisions of this Section 8(c) in a reasonable manner and in good faith in accordance with then prevailing practices in the interpretation and application of Section 280G of the Code. For purposes
of applying the provisions of this Section 8, the Company shall be entitled to rely on the written advice of legal counsel or a nationally recognized accounting firm as to whether one or more Covered Payments constitute “parachute
payments” under Section 280G of the Code. 
 9. PROTECTION OF THE COMPANY’S INTERESTS. 
 (a) No Competing Employment. For so long as the Executive is employed by the Company Group and during a period of two (2) years after
his employment with the Company Group has been terminated (such period being referred to hereinafter as the “Restricted Period”), the Executive shall not, without the prior written consent of the Company Board and the Company Board,
directly or indirectly, own an interest in, manage, operate, join, control, lend money or render financial or other assistance to or participate in or be connected with, as an officer, employee, partner, stockholder, consultant or otherwise, any
individual, partnership, firm, corporation or other business organization or entity that competes with the business of the Company Group by providing any goods or services provided or under development by the Company Group at the effective date of
the Executive’s termination of employment (the “Business”); provided, however, that this Section 9(a) shall not proscribe the Executive’s ownership, either directly or indirectly, of less than one
(1) percent of any class of securities which are listed on a national securities exchange or quoted on the automated quotation system of the National Association of Securities Dealers, Inc. 
 (b) No Interference. During the Restricted Period, the Executive shall not, directly or indirectly, whether for his own account or for the
account of any other individual, partnership, firm, corporation or other business organization (other than the Company Group), (i) solicit, or endeavor to entice away from the Company Group, or otherwise interfere with the relationship of the
Company Group with, any person or entity who is, or was within the then most recent twelve-month period, (A) employed by, or otherwise engaged to perform services for, the Company Group, or (B) a customer or client of the Company Group or
(ii) assist or encourage any other person in carrying out, directly or indirectly, any activity that would be prohibited by the provisions of this Section 9(b) if such activity were carried out by the Executive, and, in particular, the
Executive agrees that he will not, directly or indirectly, induce any employee of the Company Group to carry out any such activity, or (iii) otherwise interfere with the business of the Company Group. 
  

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 (c) Non-Disparagement. During the Restricted Period and thereafter, the Executive shall not
intentionally make any public statement, or publicly release any information, that disparages or defames the Company Group, or any of its officers and directors, and shall not intentionally cause or encourage any other person to make any such
statement or publicly release any such information. 
 (d) Confidentiality. The Executive understands and acknowledges that in
the course of his employment, he has had and will continue to have access to and will learn confidential information regarding the Company Group that concerns the technological innovations, operations and methodologies of the Company Group,
including, without limitation, business plans, financial information, protocols, proposals, manuals, procedures and guidelines, computer source codes, programs, software, know-how and specifications, inventions, copyrights, trade secrets, market
information, Developments (as hereinafter defined), data and customer information (collectively, “Proprietary Information”). The Executive recognizes that the use or disclosure of Proprietary Information could cause the Company
Group substantial loss and damages which could not be readily calculated, and for which no remedy at law would be adequate. Accordingly, the Executive agrees that during the period beginning on the date hereof and continuing in perpetuity
thereafter, he shall keep confidential and shall not directly or indirectly disclose any such Proprietary Information to any third party, except as required to fulfill his duties in connection with his employment by the Company Group, and shall not
misuse, misappropriate or exploit such Proprietary Information in any way. The restrictions contained herein shall not apply to any information which the Executive can demonstrate (i) was already available to the public at the time of
disclosure, or subsequently became available to the public, otherwise than by breach of this Agreement or (ii) was the subject of a court order to disclose. 
 “Developments” shall mean all data, discoveries, findings, reports, designs, inventions, improvements, methods, practices, techniques, developments, programs, concepts and ideas, whether or not
patentable, and works of authorship, relating to the present or planned activities, or the products and services of the Company. 
 (e)
Exclusive Property. The Executive confirms that all Proprietary Information is and shall remain the exclusive property of the Company Group. All business records, papers and documents kept or made by him relating to the business of the
Company Group shall be and remain the property of the Company Group. Upon the termination of the Executive’s employment with the Company Group or upon the request of the Company Group at any time, he shall promptly deliver to the Company Group,
and shall not without the consent of the Company and the Company retain copies of, any written materials not previously made available to the public, or records and documents made by the Executive or coming into his possession concerning the
business or affairs of the Company Group; provided, however, that subsequent to any such termination, the Company Group shall provide the Executive with copies (the cost of which shall be borne by the Executive) of any documents which
are requested by the Executive and which he has determined in good faith are (i) required to establish a defense to a claim that the Executive has not complied with his duties hereunder or (ii) necessary to the Executive in order to comply
with applicable law. 
  

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 (f) Assignment of Developments. During the Executive’s employment, all Developments
that are at any time made, reduced to practice, conceived or suggested by him, whether acting alone or in conjunction with others, shall be the sole and absolute property of the Company Group, free of any reserved or other rights of any kind on his
part, and the Executive hereby irrevocably assigns, conveys and transfers any and all right, title and interest that he may have in such Developments to the Company Group. If such Developments were made, reduced to practice, conceived or suggested
by the Executive during or as a result of his employment relationship with the Company Group, the Executive shall promptly make full disclosure of any such Developments to the Company Group and, at the Company’s cost and expense, do all acts
and things (including, among others, the execution and delivery under oath of patent and copyright applications and instruments of assignment) deemed by the Company Group to be necessary or desirable at any time in order to effect the full
assignment to the Company Group, of his right and title, if any, to such Developments. The Executive acknowledges and agrees that any invention, concept, design or discovery that concretely relates to or is associated with the Executive’s work
for the Company Group that is described in a patent application or is disclosed to a third party directly or indirectly by the Executive during the Restricted Period shall be the property of and owned by the Company Group and such disclosure by
patent application (except by way of a patent application filed by the Company Group) or otherwise shall constitute a breach of Section 8(a) above. 
 (g) Injunctive Relief. Without intending to limit the remedies available to the Company Group, the Executive acknowledge that a breach of any of the covenants contained in this Section 8 may result
in material irreparable injury to the Company Group for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of such a breach or threat thereof, the Company
Group shall be entitled to obtain a temporary restraining order and/or a preliminary or permanent injunction restraining the Executive from engaging in activities prohibited by this Section 9 or such other relief as may be required to
specifically enforce any of the covenants in this Section 9. 
 (h) Enforceability. Should any of the time periods or the
geographic area set forth in this Section 9 be held to be unreasonable by any court of competent subject matter jurisdiction, the parties hereto agree to petition such court to reduce the time period or geographic area to the maximum permitted
by governing law. 
 10. RIGHTS AND OBLIGATIONS. The Executive hereby consents to the assignment by SBA Properties, Inc. to the Company, and
the assumption by the Company, of all of SBA Properties, Inc.’s rights and obligations under the Agreement. The Executive acknowledges and agrees, for himself and each of his respective heirs, executors, administrators, representatives, agents,
successors and assigns (collectively, the “Assigns”), that the Executive and the Assigns shall have no right of action or remedy against SBA Properties, Inc. for any claims, actions, causes of action, rights, judgments, obligations,
damages, demands, accountings or liabilities of whatever kind or character (collectively, “Claims”), including without limitation, any Claims under federal, state, local or foreign law, that the Executive and the Assigns may have,
or in the future may possess, arising out of (i) the Executive’s employment relationship with and service as an employee of the Company Group or (ii) the Agreement. 
  

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 11. NOTICE. All notices, requests, consents and other communications required or permitted under this
Agreement shall be in writing (including electronic transmission) and shall be (as elected by the person giving such notice) hand delivered by messenger or courier service, electronically transmitted, or mailed (airmail if international) by
registered or certified mail (postage prepaid), return receipt requested, addressed to: 
  

			
	 If to the Executive:
	  	Jeffrey A. Stoops
		
	 If to the Company:
	  	SBA COMMUNICATIONS CORPORATION,
		  	a Florida corporation
		  	5900 Broken Sound Parkway N.W.
		  	Boca Raton, Florida, 33487
		  	Attn: General Counsel
		
	 With a copy to:
	  	Shearman & Sterling
		  	599 Lexington Ave.
		  	New York, NY
		  	10022
		  	Attn: Kenneth J. Laverriere

 or to such other address as any party may designate by notice complying with the provisions of this Section. Each
such notice shall be deemed delivered (a) on the date delivered if by personal delivery; (b) on the date of transmission with confirmed answer back if by electronic transmission; and (c) on the date upon which the return receipt is
signed or delivery is refused or the notice is designated by the postal authorities as not deliverable, as the case may be, if mailed. 
 12.
AMENDMENTS. The provisions of this Agreement may not be amended, supplemented, waived or changed orally, but only by a writing signed by the party as to whom enforcement of any such amendment, supplement, waiver or modification is sought and making
specific reference to this Agreement. Notwithstanding the preceding sentence, the Company may, without the Executive’s consent, amend any provision of this Agreement to the extent it deems such action necessary or advisable to avoid the
imposition on any person of additional taxes, penalties or interest under Section 409A of the Code, and any such amendment shall not be a basis for a resignation by the Executive for Good Reason; provided, however,
that any such amendment or modification shall, to the maximum extent the Company, reasonably and in good faith determines to be possible, retain the economic and tax benefits to the Executive hereunder while not materially increasing the cost to the
Company of providing such benefits to the Executive. Any determinations of the Company pursuant to this Section 12 shall be final, conclusive and binding on all persons. 
 13. ASSIGNMENTS. No party shall assign his or its rights and/or obligations under this Agreement without the prior written consent of each other party to
the Agreement. The Company will require a successor to all or substantially all of the business or assets of the Company to assume expressly and to agree to perform this Agreement in the same manner and to the same extent that the Company would be
required to perform this Agreement if no such succession had taken place. 
  

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 14. COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall be
deemed an original, but all of which taken together shall constitute one and the same instrument. Confirmation of execution by electronic transmission of a facsimile signature page shall be binding upon any party so confirming. 
 15. ENFORCEMENT COSTS. If any civil action or other legal proceeding arising out of or related to this Agreement is brought for the enforcement of this
Agreement, or because of an alleged dispute, breach, default or misrepresentation in connection with any provision of this Agreement, the successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees, sales
and use taxes, court costs and all expenses even if not taxable as court costs (including, without limitation, all such fees, taxes, costs and expenses incident to arbitration, appellate, bankruptcy and post-judgment proceedings), incurred in that
civil action or legal proceeding, in addition to any other relief to which such party or parties may be entitled. Attorneys’ fees shall include, without limitation, paralegal fees, investigative fees, administrative costs, sales and use taxes
and all other charges billed by attorney to the prevailing party. 
 16. EQUITABLE REMEDIES. The Executive acknowledges that the services to
be rendered by the Executive hereunder are extraordinary and unique and are vital to the success of the Company, and that damages at law would be an inadequate remedy for any breach or threatened breach of this Agreement by the Executive. Therefore,
in the event of a breach or threatened breach by the Executive of any provision of this Agreement, the Company Group shall be entitled, in addition to all other rights or remedies, to an injunction restraining such breach, without the Company Group
being required to show any actual damage or to post an injunction bond. 
 17. GOVERNING LAW. This Agreement and all transactions
contemplated by this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Florida without reference to any choice of law provisions therein. 
 18. JURISDICTION AND VENUE. The parties acknowledge that a substantial portion of the negotiations, anticipated performance and execution of this
Agreement occurred or shall occur in Palm Beach County, Florida. Any civil action or legal proceeding arising out of or relating to this Agreement shall be brought in the courts of record of the State of Florida in Palm Beach County or the United
States District Court, Southern District of Florida, West Palm Beach Division. Each party consents to the jurisdiction of such court in any such civil action or legal proceeding and waives any objection to the laying of venue of any such civil
action or legal proceeding in such court. Service of any court paper may be effected on such party by mail, as provided in this Agreement, or in such other manner as may be provided under applicable laws, rules of procedure or local rules.

 19. SEVERABILITY. If any provision of this Agreement or any other agreement entered into pursuant hereto is contrary to, prohibited by or
deemed invalid under applicable law or regulation, such provision shall be inapplicable and deemed omitted to the 

  

 12 

 
extent so contrary, prohibited or invalid, but the remainder hereof shall not be invalidated thereby and shall be given full force and effect so far as
possible. If any provision of this Agreement may be construed in two or more ways, one of which would render the provision invalid or otherwise voidable or unenforceable and another of which would render the provision valid and enforceable, such
provision shall have the meaning which renders it valid and enforceable. 
 20. ENTIRE AGREEMENT. This Agreement and the other documents
executed by the parties in connection herewith (including that certain Incentive Stock Option Agreement and Restricted Stock Agreement) represent the entire understanding and agreement between the parties with respect to the subject matter hereof,
and supersedes all other negotiations, understandings and representations (if any) made by and between such parties, including, without limitation, the employment agreement between the Executive and the Company dated March 14, 1997. 

21. AMENDMENT AND RESTATEMENT. This Agreement has been amended and restated for purposes of complying with Section 409A of the Code, effective as
of the Restatement Date. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first above written.

  

			
	SBA COMMUNICATIONS CORPORATION
		
	By:	 	 /s/ Thomas P. Hunt

		 	Thomas P. Hunt, Senior Vice President
		
	and	 	
		
	By:	 	 /s/ Steven Bernstein

		 	Steven Bernstein, Chairman of the Board of SBA Communications Corporation
	
	 /s/ Jeffrey A. Stoops

	JEFFREY A. STOOPS

  

 13Exhibit 10.57A

 Exhibit 10.57A 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this
“Agreement”), between SBA COMMUNICATIONS CORPORATION, a Florida corporation (the “Company”), and KURT L. BAGWELL (the “Executive”), is made and entered into as of January 1, 2008 (the
“Restatement Date”). 
 W I T N E S S E T H : 
 WHEREAS, the Company and its subsidiaries (collectively, the “Company Group”) engage in the business of developing, leasing and maintaining wireless telecommunications tower sites and other related
businesses; 
 WHEREAS, the Company and its subsidiary, SBA Properties Inc., a Florida corporation, and the Executive have previously entered
into an Employment Agreement, dated February 28, 2003, as amended and restated effective as of September 18, 2006 (the “Original Agreement”); 
 WHEREAS, the Company and the Executive understood that the Original Agreement would need to be revised in order to comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury
regulations promulgated thereunder (the “Code”), and the Company and the Executive now desire to revise the Original Agreement to bring it into compliance; and 
 WHEREAS, the Company and the Executive wish to replace the Original Agreement as of the Restatement Date with the terms and conditions set forth in this
Agreement. 
 NOW, THEREFORE, it is hereby agreed by and between the parties as follows: 
 1. EMPLOYMENT. The Company hereby agrees to employ the Executive and the Executive hereby agrees to be employed by the Company on the terms and
conditions set forth herein. 
 2. TERM. The term (the “Term”) of employment of the Executive by the Company Group
hereunder commenced as of September 18, 2006 (the “Effective Date”) and shall end December 31, 2009 (the “End Date”), unless sooner terminated as hereinafter provided. If the Executive continues in the
employment of the Company Group following the expiration of the Term, the Executive’s employment with the Company Group shall be at will, unless and until the parties negotiate and sign a new employment agreement regarding such future
employment. Neither party shall be under any obligation or duty to sign or negotiate any such new employment agreement. 
 3. POSITION
AND DUTIES. 
 (a) The Executive shall serve as the senior vice president and the chief operating officer of the Company. The Executive shall
generally perform the duties of a senior 

 
vice president and chief operating officer for the Company and shall have such specific responsibilities, duties and authorities as shall from time to time
be assigned by the President, Chief Executive Officer, or Board of Directors of the Company (the “Board”). 
 (b) The
Executive shall also serve, for no additional consideration, in such other positions in the Company Group as determined from time to time by the Board and shall have such specific responsibilities, duties and authorities with respect to such
positions as shall from time to time be assigned by the President, Chief Executive Officer, or the Board. 
 (c) The Executive shall devote
all his working time and efforts to the business and affairs of the Company Group. 
 4. COMPENSATION AND RELATED MATTERS. 

(a) Salary. During the Term, the Executive shall be paid an annual salary at a rate of $277,500 per annum, which amount may be increased
but not decreased by the Board (the “Base Salary”). The Company shall pay the Executive the Base Salary in accordance with its regular payroll practices as in effect from time to time. Compensation of the Executive by payments of
Base Salary shall not be deemed exclusive and shall not prevent the Executive from participating in any other compensation or benefit plan of the Company Group, subject to the eligibility requirements and other terms of such plan. 
 (b) Annual Bonus. In addition to the Base Salary, the Executive shall be eligible to earn for each calendar year ending during the Term an
annual incentive bonus (the “Bonus”) based on the achievement of one or more performance goals, targets, measurements and other factors (collectively, the “Performance Goals”) established for such year by the
Compensation Committee of the Board (the “Committee”). The Executive’s target annual bonus (the “Target Bonus”) and the applicable Performance Goals will be established by the Committee within 90 days of the
first day of the year to which such Bonus relates; provided, however, that the minimum Target Bonus for each full year of service shall be 100% of Base Salary (the “Minimum Target Bonus”). Payment of the
Executive’s Bonus for any year will be based upon the achievement of the Performance Goals established by the Committee for that year (including, without limitation, the exercise of the Committee’s negative discretion in accordance with
its past practices with respect to the Performance Goals and related payment schedule established by the Committee for such Performance Goals). The actual bonus paid may be higher or lower than the Target Bonus for over- or under-achievement of the
Performance Goals (including, without limitation, as a result of the exercise by the Committee of negative discretion in accordance with its past practices with respect to the Performance Goals and related payment schedule established by the
Committee for such Performance Goals), as determined by the Committee. Subject to Section 6 hereof, a Bonus, if any, shall be payable in accordance with the Company’s customary bonus payment practices, but in no event later than
March 15th of the succeeding calendar year. 
 (c) Expenses. During the Term, the Executive shall be entitled to receive
payment or reimbursement for all reasonable expenses incurred by the Executive in performing services hereunder, including all expenses of travel and living expenses while away from home on business or at the request of and in the service of the
Company Group, cell phone expenses 

  

 2 

 
and dues and seminar fees; provided that such expenses are incurred and accounted for in accordance with the policies and procedures then
established by the Company Group from time to time; provided further that reimbursement shall be made as soon as practicable after a request for reimbursement is received by the Company Group in accordance with the Company’s
customary expense reimbursement practices, but in no event later than the last day of the calendar year next following the calendar year in which the expense is incurred. 
 (d) Other Benefits. The Executive shall be entitled to participate in or receive benefits under any employee benefit plan or arrangement made available by the Company Group in the future to its
executives and key management employees, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements, which benefits shall include disability insurance for as long as the Company Group
generally provides disability insurance to its officers. Any payments, bonuses or benefits payable to the Executive hereunder in respect of any calendar year during which the Executive is employed by the Company Group for less than the entire such
year shall, unless otherwise provided in the applicable plan or arrangement, be prorated in accordance with the number of days in such calendar year during which the Executive is so employed. 
 (e) Group or Family Medical Coverage. The Company shall immediately cause to be provided group or family medical insurance coverage to the
Executive and his dependents under a plan for employees of the Company Group, and such plan shall include reasonable coverage for medical, hospital, surgical and major medical expenses and shall be subject to such deductibles as applicable to other
Company Group employees. In addition, the Executive shall be entitled to participate in the Company’s plan providing supplemental medical expense reimbursement insurance (the “Medical Expense Reimbursement Plan”) in accordance
with the terms of such plan. 
 5. WITHHOLDING. Both the Executive and the Company agree that all amounts paid pursuant to this
Agreement shall be subject to all applicable federal, state, local and foreign withholding requirements. 
 6. TERMINATION. Subject to
the provisions set forth in this Section 6, the Company shall have the right to terminate the Executive’s employment hereunder, and the Executive shall have the right to resign his employment with the Company Group, at any time for any
reason or for no stated reason. For purposes of this Agreement, the terms “terminate,” “terminated,” “termination” and “resignation” mean a termination of the Executive’s employment that constitutes a
Separation from Service (as defined in Section 6(e)(v) hereof). 
 (a) General. Upon a termination of the Executive’s
employment for any reason, he shall be entitled to receive the following amounts (collectively, the “Termination Amount”) on the next regularly scheduled payroll date after the date of the Executive’s termination of employment:
(i) any accrued and unpaid Base Salary for services performed up to and including the date of his termination or resignation, as applicable, (ii) a cash payment (calculated on the basis of his Base Salary then in effect) for all
unused vacation days that the Executive may have accrued as of his date of termination (subject to the terms of the Company’s then applicable vacation policies) and (iii) any unpaid reimbursement for business expenses the Executive is
entitled to receive under Section 4(c) hereof. 
  

 3 

 (b) Termination for Cause; Resignation Without Good Reason. 
 (i) If, prior to the expiration of the Term, the Executive’s employment with the Company Group is terminated by the Company for Cause
(as defined below) or if the Executive resigns without Good Reason (as defined below), he shall be entitled to receive the Termination Amount. Except to the extent required by the terms of any applicable compensation or benefit plan or program
or otherwise required by applicable law, the Executive shall have no right under this Agreement or otherwise to receive any other compensation or to participate in any other plan, program or arrangement after such termination or resignation of
employment with respect to the year of such termination or resignation and later years. 
 (ii) “Cause” means
the occurrence of any of the following events: 
 (1) the Executive’s willful, material violation of any law or
regulation applicable to the business of the Company Group; 
 (2) the Executive’s conviction of, or plea of “no
contest” to, a felony; 
 (3) any willful perpetration by the Executive of an act involving moral turpitude or common law
fraud, whether or not related to his activities on behalf of the Company Group; 
 (4) any act of gross negligence by the
Executive in the performance of his duties as an employee of the Company Group; 
 (5) any material violation by the Executive
of the Company’s Code of Ethics, as in effect from time to time; 
 (6) the willful and continued failure or refusal of
the Executive to satisfactorily perform the duties reasonably required of him as an employee of the Company Group; 
 (7) the
indictment for any crime, whether a felony or misdemeanor, involving the purchase or sale of any security, mail or wire fraud, theft, embezzlement, moral turpitude, or Company Group property where such indictment has a material adverse impact on the
Executive’s ability to perform his duties under this Agreement; or 
 (8) any willful misconduct by the Executive that is
materially injurious to the financial condition, business, or reputation of, or is otherwise materially injurious to, any member of the Company Group. 
 (iii) Termination of the Executive’s employment for Cause shall be communicated by delivery to the Executive of a written notice from the Board stating that the Executive will be terminated for Cause, specifying
the particulars thereof and the effective date of such termination; provided, however, that upon receipt of such notice, the Executive shall have (1) an opportunity to cure the matter constituting 

  

 4 

 
Cause within a measurable period of time (provided that the event constituting Cause is then susceptible to cure) and (2) an opportunity, together
with his counsel, to be heard by the Board. The date of the Executive’s termination for Cause shall be the date of termination specified by the resolution of the Board; provided, however, that such termination shall not become
effective until no earlier than the date of the meeting of the Board described in clause (2) of the preceding sentence. The date of resignation by the Executive shall be the date specified in a written notice of resignation to the Company. The
Executive shall provide at least 30 days’ advance written notice of resignation without Good Reason; provided, however, that the Company, in its sole discretion, may waive the notice requirement in whole or in part. 
 (c) Termination Without Cause; Resignation for Good Reason. 
 (i) If, prior to the expiration of the Term, the Executive’s employment with the Company Group is terminated by the Company without
Cause or if the Executive resigns from his employment hereunder for Good Reason, then, in addition to the Termination Amount, the Executive shall be entitled to receive: 
 (1) an amount equal to the sum of the following amounts (collectively, the “Severance Amount”): 
 (A) an amount equal to the pro rata portion of the Target Bonus for the year in which the termination or resignation occurs,
calculated by multiplying (x) the Minimum Target Bonus for the year of termination by (y) a fraction, the numerator of which is the number of days the Executive was employed during the year of such termination or resignation and the
denominator of which is 365; plus 
 (B) an amount equal to 2.0 times the sum of: (i) the Base Salary in effect for the
year of termination or resignation and (ii) the Minimum Target Bonus; and 
 (2) continuation of applicable medical,
dental and life insurance benefits (based on the coverage in effect for the Executive and his dependents at the time of such termination or resignation, but excluding the Medical Expense Reimbursement Plan), from the date of termination or
resignation until the earlier to occur of (i) the second anniversary of the date of termination or (ii) the date the Executive becomes eligible for comparable benefits provided by a third party (in either case, the “Continuation
Period”); provided, however, that the continuation of such benefits shall be subject to the respective terms of the applicable plan, as in effect from time to time, and the timely payment by the Executive of his applicable
share of the applicable premiums in effect from time to time during the Continuation Period. To the extent that reimbursable medical and dental care expenses constitute deferred compensation for purposes of Section 409A of the Code, the Company
shall reimburse the medical and dental care expenses as soon as practicable consistent with the Company’s practice, but in no event later than the last day of the calendar year next following the calendar year in which such expenses are
incurred. 
  

 5 

 (ii) Except as provided for in Section 7(b), and subject to Section 6(e), the
Severance Amount shall be paid in 24 equal monthly installments, commencing on the first business day of the calendar month following the calendar month in which the Executive’s termination or resignation becomes effective in accordance with
this Section 6(c), and continuing on the first business day of each calendar month thereafter until all 24 monthly installments are paid. 
 (iii) The payment of the Severance Amount and the continuation of benefits, whether pursuant to this Section 6(c) or pursuant to Section 7, shall each be contingent upon the Executive executing a full
release and waiver of claims against the Company Group (which release and waiver of claims, once executed and irrevocable, shall not apply to the Company’s obligation to pay the Severance Amount and continue benefits hereunder), in a form
approved by the Board, that becomes irrevocable not later than the last day of the second calendar month following the calendar month in which the Executive’s termination or resignation becomes effective in accordance with this
Section 6(c). If the Executive fails to execute a full release and waiver of claims against the Company Group that becomes irrevocable on or before the last day of the second calendar month following the calendar month in which the
Executive’s termination or resignation becomes effective, the Company Group’s obligations under Sections 6(c) and 7 shall terminate and the Executive shall not be entitled to further payment of the Severance Amount or the continuation of
benefits. 
 (iv) “Good Reason” means the occurrence of any of the following events: 
 (1) the Executive’s position, title, duties, and reporting responsibilities with the Company in effect on the Effective Date become
less favorable in any material respect; 
 (2) a reduction in the Base Salary, Minimum Target Bonus or material benefits, as
of the Effective Date; or 
 (3) the relocation, without the Executive’s consent, of the Executive’s principal place
of business to a location that is more than 60 miles from the Executive’s primary business location on the Effective Date. 
 (v) In order to constitute Good Reason, (1) the Executive must provide written notification of his intention to resign within 30 days after the Executive knows or has reason to know of the occurrence of any such event, (2) such
event or condition is not corrected, in all material respects, by the Company Group within 20 days of its receipt of such notice and (3) the Executive resigns his employment with the Company Group not more than 30 days following the expiration
of the 20-day period described in the foregoing clause (2). 
  

 6 

 (vi) The date of termination of employment without Cause shall be the date specified in a
written notice of termination to the Executive. The date of resignation for Good Reason shall be the date specified in a written notice of resignation from the Executive to the Company; provided, however, that no such written notice
shall be effective unless the cure period specified in Section 6(c)(v) above has expired without the Company having corrected the event or events subject to cure. 
 (d) Disability; Death. 
 (i) If, as a result of the Executive’s incapacity due to physical or mental illness (such incapacity being determined by the Board in its reasonable discretion), the Executive shall have been absent from his full-time duties as
described hereunder for the entire period of 6 consecutive months (“Disability”), the Executive’s employment shall terminate at the end of the 6-month period. 
 (ii) Upon a termination pursuant to this Section 6(d) as a result of Disability or as a result of the Executive’s death,
the Executive (or his estate, as applicable) shall be entitled to receive: 
 (1) the Termination Amount, and 

(2) an amount equal to the pro rata portion of the Target Bonus for the year in which the termination occurs, calculated by
multiplying (x) the Minimum Target Bonus for the year of termination by (y) a fraction, the numerator of which is the number of days the Executive was employed during the year of termination and the denominator of which is 365. 

(iii) If the Executive’s employment is terminated pursuant to this Section 6(d) as a result of his Disability, then subject
to Section 6(e), the pro rata Target Bonus shall be paid in 24 equal monthly installments, commencing on the first business day of the third calendar month following the calendar month in which the Executive’s termination becomes
effective in accordance with this Section 6(d) and continuing on the first business day of each calendar month thereafter until all 24 monthly installments are paid. 
 (iv) If the Executive’s employment is terminated pursuant to this Section 6(d) as a result of his Disability, and such
Disability also constitutes a 409A Disability (as defined below), then, notwithstanding Section 6(d)(iii) hereof, the pro rata Target Bonus shall be paid in a lump sum within 30 days after the date on which such termination is
effective. For purposes of this Section 6(d)(iv), a “409A Disability” means a disability such that the Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. 
 (v) If the Executive’s employment is terminated as of result of his death, the pro rata Target Bonus shall be paid within 30 days after the date of the Executive’s death. 
  

 7 

 (vi) Except to the extent required by the terms of any applicable compensation or benefit
plan or program or otherwise required by applicable law, the Executive shall have no right under this Agreement or otherwise to receive any other compensation or to participate in any other plan, program or arrangement after such termination.

 (e) Section 409A Compliance. 
 (i) If, at the time of the Executive’s termination or resignation with the Company Group, the Executive is a Specified Employee
(as defined below), then any amounts payable to the Executive pursuant to this Agreement prior to the 6-month anniversary of the Executive’s date of termination or resignation (the “Short-Term Deferral Date”) shall be delayed
and not paid to the Executive until the first business day following the Short-Term Deferral Date, at which time such delayed amounts will be paid to the Executive in a cash lump sum (the “Catch-Up Amount”). 
 (ii) If payment of an amount is delayed as a result of this Section 6(e), such amount shall be increased with interest from the date
on which such amount would otherwise have been paid to the Executive but for this Section 6(e) to the day prior to the date the Catch-Up Amount is paid. The rate of interest shall be the applicable short-term federal rate applicable under
Section 7872(f)(2)(A) of the Code for the month in which the date of the Executive’s termination or resignation occurs. Such interest shall be paid at the same time that the Catch-Up Amount is paid. 
 (iii) If the Executive dies on or after the date of the Executive’s termination or resignation and prior to the Short-Term Deferral
Date, any amount delayed pursuant to this Section 6(e) shall be paid to the Executive’s estate or beneficiary, as applicable, together with interest, within 30 days following the date of the Executive’s death. 
 (iv) “Specified Employee” has the meaning set forth in Section 409A(a)(2)(B)(i) of the Code. The determination
of whether the Executive constitutes a Specified Employee on the date of his termination or resignation shall be made in accordance with the Company’s established methodology for determining Specified Employees. 
 (v) “Separation from Service” means a “separation from service” from the Company Group within the meaning of
the default rules under the final regulations issued pursuant to Section 409A of the Code. 
 (vi) The provisions of this
Section 6(e) shall apply notwithstanding any provision of this Agreement related to the timing of payments following the Executive’s termination or resignation. 
 7. CHANGE IN CONTROL; PAYMENT OF SEVERANCE AMOUNT. 
 (a) If a Change in Control of the Company (as defined below) shall become effective during the Term, the Term shall automatically be extended for 2 years following the effective date of such Change in Control and
the End Date shall be deemed to be the second anniversary of the effective date of such Change in Control. 
  

 8 

 (b) In the event that the Executive’s employment is terminated without Cause or the Executive
resigns for Good Reason during the Term, and such termination or resignation occurs after a Change in Control which also constitutes a “change in control event” within the meaning of the default rules under Section 409A of the Code,
then, notwithstanding Section 6(c)(ii) hereof, the Severance Amount shall be paid in a lump sum on the first business day of the third calendar month following the calendar month in which such termination or resignation is effective;
provided, however, that if the Executive is a Specified Employee at the time of the Executive’s termination or resignation, then the Severance Amount (increased with interest in the manner contemplated by
Section 6(e)(ii) hereof) shall be paid to the Executive on the first business day following the Short-Term Deferral Date (or, in the event of the Executive’s death after the date of the Executive’s termination or resignation
but prior to the date of payment, to the Executive’s estate or beneficiary, as applicable, together with interest, within 30 days following the date of the Executive’s death). 
 (c) In the event that the Executive’s employment is terminated without Cause or the Executive resigns for Good Reason during the Term, and such
termination or resignation occurs after a Change in Control which does not also constitute a “change in control event” within the meaning of the default rules under Section 409A of the Code, then, notwithstanding Section 7(b),
the Severance Amount shall be paid in accordance with Sections 6(c)(ii) and, if applicable, 6(e). 
 (d) A “Change in
Control” shall be deemed to have occurred when: 
 (i) any person is or becomes the “beneficial owner” (as
defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing 35% or more of the combined voting power of the Company’s then-outstanding securities; or 
 (ii) the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who
constitute the Board as of the Effective Date and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including, but not limited to, a consent solicitation,
relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the Company’s shareholders was approved or recommended by a vote of at least a majority of the directors then
still in office who either were directors on the Effective Date or whose appointment, election or nomination for election was previously so approved or recommended; or 
 (iii) there is consummated a merger or consolidation of the Company, other than (A) a merger or consolidation which would result in
the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent thereof),
in combination with the 

  

 9 

 
ownership of any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any subsidiary, at least 50% of the combined
voting power of the securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (B) a merger or consolidation effected to implement a recapitalization of the Company
(or similar transaction) in which no person is or becomes the beneficial owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such person any securities acquired directly from the
Company or its affiliates other than in connection with the securities acquired directly from the Company or its affiliates other than in connection with the acquisition by the Company or its affiliates of a business) representing 50% or more
of the combined voting power of the Company’s then outstanding securities; or 
 (iv) the shareholders of the Company
approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition by the
Company of all or substantially all of the Company’s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Company in substantially the same proportions as their
ownership of the Company immediately prior to such sale. 
 8. CERTAIN ADDITIONAL PAYMENTS BY THE COMPANY. 
 (a) In the event that any amount or benefit paid, distributed or otherwise provided to the Executive by the Company Group, whether pursuant to this
Agreement or otherwise, but determined without regard to any additional payment required under this Section 8(a) (collectively, the “Covered Payments”), would (x) constitute a “parachute payment” within the
meaning of Section 280G of the Code, and (y) be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties payable with respect to such excise tax (such excise tax, together with any such interest and
penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall be entitled to receive from the Company an additional payment (the “Gross-Up Payment,” and any iterative payments
pursuant to this paragraph also shall be “Gross-Up Payments”) in an amount that shall fund the payment by the Executive of any Excise Tax on the Covered Payments, as well as all income and employment taxes on the Gross-Up Payment,
any Excise Tax imposed on the Gross-Up Payment and any interest or penalties imposed with respect to income and employment taxes imposed on the Gross-Up Payment. For this purpose, all income taxes will be assumed to apply to the Executive at the
highest marginal rate. 
 (b) A nationally recognized firm of independent accountants, selected by the Company after consultation with the
Executive, shall perform the foregoing calculations. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. Such accounting firm shall apply the provisions of this Section 8
in a reasonable manner and in good faith in accordance with then prevailing practices in the interpretation and application of Section 280G of the Code. For purposes of applying the provisions of this Section 8, the Company shall be
entitled to rely on the written advice of legal counsel or such accounting firm as to whether one or more Covered Payments constitute “parachute payments” under Section 280G of the Code. 
  

 10 

 (c) The accounting firm engaged to make the determinations hereunder shall provide its calculations,
together with detailed supporting documentation, to the Company and the Executive within 30 calendar days after the date that such accounting firm has been engaged to make such determinations or such other time as requested by the Company or the
Executive. If the accounting firm determines that no Excise Tax is payable with respect to a Covered Payment, it shall furnish the Company and the Executive with an opinion reasonably acceptable to the Executive that no Excise Tax will be imposed
with respect to such Covered Payment. Any good faith determinations of the accounting firm made hereunder shall be final, binding, and conclusive upon the Company and the Executive. 
 (d) The Gross-Up Payment shall be paid within 30 days after such amount is determined by the Company in accordance with the provisions of this
Section 8, but in no event later than the last day of the calendar year following the calendar year in which the Executive remits the Excise Tax. 
 9. PROTECTION OF THE COMPANY GROUP’S INTERESTS. 
 (a) No Competing Employment.
During the Term and, in the event the Term ends prior to the End Date for any reason other than the Executive’s death but including, without limitation, termination without Cause or resignation for Good Reason, for a period of 2 years following
the effective date of such termination or resignation, the Executive shall not, without the prior written consent of the Board, directly or indirectly, own an interest in, manage, operate, join, control, lend money or render financial or other
assistance to or participate in or be connected with, as an officer, employee, partner, stockholder, consultant or otherwise, any individual, partnership, firm, corporation or other business organization or entity that competes with the business of
the Company Group by providing any goods or services provided or under development by the Company Group at the effective date of the Executive’s termination of employment (the “Business”); provided, however, that
this Section 9(a) shall not proscribe the Executive’s ownership, either directly or indirectly, of less than 1% of any class of securities which are listed on a national securities exchange or quoted on the automated quotation system
of the National Association of Securities Dealers, Inc. 
 (b) No Interference. For so long as the Executive is employed by the
Company Group and during a period of 2 years after his employment with the Company Group ends for any reason other than the Executive’s death but including, without limitation, termination without Cause or resignation for Good Reason (the
“Restricted Period”), the Executive shall not, directly or indirectly, whether for his own account or for the account of any other individual, partnership, firm, corporation or other business organization (other than the Company
Group), (i) solicit, or endeavor to entice away from the Company Group, or otherwise interfere with the relationship of the Company Group with, any person or entity who is, or was within the then most recent 12-month period, (A) employed
by, or otherwise engaged to perform services for, the Company Group, or (B) a customer or client of the Company Group, (ii) assist or encourage any other person in carrying out, directly or indirectly, any activity that would be prohibited
by the provisions of this Section 9(b) if such activity were carried out by the 

  

 11 

 
Executive, and, in particular, the Executive agrees that he will not, directly or indirectly, induce any employee of the Company Group to carry out any such
activity, or (iii) otherwise interfere with the business of the Company Group. 
 (c) Non-Disparagement. During the
Restricted Period, the Executive shall not intentionally make any public statement, or publicly release any information, that disparages or defames the Company Group, or any of its members, officers or directors, and shall not intentionally cause or
encourage any other person to make any such statement or publicly release any such information. 
 (d) Confidentiality. The
Executive understands and acknowledges that, in the course of his employment, he has had and will continue to have access to and will learn confidential information regarding the Company Group that concerns the technological innovations, operations
and methodologies of the Company Group, including, without limitation, business plans, financial information, protocols, proposals, manuals, procedures and guidelines, computer source codes, programs, software, know-how and specifications,
copyrights, trade secrets, market information, Developments (as hereinafter defined), data and customer information (collectively, “Proprietary Information”). The Executive recognizes that the use or disclosure of Proprietary
Information could cause the Company or any member of the Company Group substantial loss and damages that could not be readily calculated, and for which no remedy at law would be adequate. Accordingly, the Executive agrees that, during the Restricted
Period and thereafter, he shall keep confidential and shall not, directly or indirectly, disclose any such Proprietary Information to any third party, except as required to fulfill his duties in connection with his employment by the Company Group,
and shall not misuse, misappropriate or exploit such Proprietary Information in any way. The restrictions contained herein shall not apply to any information that the Executive can demonstrate (i) was already available to the public at the time
of disclosure, or subsequently became available to the public, otherwise than by breach of this Agreement or (ii) was the subject of a court order to disclose. 
 “Developments” shall mean all data, discoveries, findings, reports, designs, inventions, improvements, methods, practices, techniques, developments, programs, concepts and ideas, whether or not
patentable, relating to the present or planned activities, or the products and services of the Company Group. 
 (e) Exclusive
Property. The Executive confirms that all Proprietary Information is and shall remain the exclusive property of the Company. All business records, papers and documents kept or made by him relating to the business of the Company Group shall
be and remain the property of the Company. Upon the termination of the Executive’s employment with the Company Group or upon the request of the Company at any time, he shall promptly deliver to the Company, and shall not, without the consent of
the Company, retain copies of any written materials not previously made available to the public, or records and documents made by the Executive or coming into his possession concerning the business or affairs of the Company Group; provided,
however, that subsequent to any such termination, the Company shall provide the Executive with copies (the cost of which shall be borne by the Executive) of any documents that are requested by the Executive and that he has determined in
good faith are (i) required to establish a defense to a claim that the Executive has not complied with his duties hereunder or (ii) necessary to the Executive in order to comply with applicable law. 
  

 12 

 (f) Assignment of Developments. During the Executive’s employment, all Developments
that are at any time made, reduced to practice, conceived or suggested by him, whether acting alone or in conjunction with others, shall be the sole and absolute property of the Company, free of any reserved or other rights of any kind on his part,
and the Executive hereby irrevocably assigns, conveys and transfers any and all right, title and interest that he may have in such Developments to the Company Group. If such Developments were made, conceived or suggested by the Executive during or
as a result of his employment relationship with the Company Group, the Executive shall promptly make full disclosure of any such Developments to the Company and, at the Company’s cost and expense, do all acts and things (including, among
others, the execution and delivery under oath of patent and copyright applications and instruments of assignment) deemed by the Company to be necessary or desirable at any time in order to effect the full assignment to the Company of his right,
title and interest, if any, to such Developments. The Executive acknowledges and agrees that any invention, concept, design or discovery that concretely relates to or is associated with the Executive’s work for the Company Group that is
described in a patent application or is disclosed to a third party, directly or indirectly, by the Executive during the Restricted Period shall be the property of and owned by the Company, and such disclosure by patent application (except by way of
a patent application filed by any member of the Company Group) or otherwise shall constitute a breach of this Section 9. 
 (g)
Injunctive Relief. Without intending to limit the remedies available to the Company, the Executive acknowledges that a breach of any of the covenants contained in this Section 9 may result in material irreparable injury to the
Company Group or any of its members for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of such a breach or threat thereof, the Company shall be entitled to
obtain a temporary restraining order and/or a preliminary or permanent injunction restraining the Executive from engaging in activities prohibited by this Section 9 or such other relief as may be required to specifically enforce any of the
covenants in this Section 9, without the Company being required to show any actual damage or to post an injunction bond. 
 (h)
Enforceability. Should any of the time periods or the geographic area set forth in this Section 9 be held to be unreasonable by any court of competent subject matter jurisdiction, the parties hereto agree to petition such court to
reduce the time period or geographic area to the maximum time period or geographic area, as applicable, permitted by governing law. 
 (i)
Periods Following the Term. Other than the provisions of Section 9(a), the provisions of this Section 9 shall continue in effect in accordance with the provisions hereof following the expiration of the
Term, including, without limitation, during any period that the Executive remains an employee-at-will of the Company. 
 (j)
Reciprocity of Obligations. Notwithstanding anything to the contrary in this Agreement, in the event the Company is obligated to pay the Severance Amount under Section 6(c) of this Agreement, the Executive’s
obligations under Section 9(a) of this Agreement 

  

 13 

 
shall be conditioned upon payment of the Severance Amount at the time and in the manner contemplated by Section 6(c); provided, however,
that, without limiting any other remedies available to the Company, in the event of the Executive’s breach of Section 9(a) or (b) of this Agreement, the Company shall cease to have any obligation as of the date of such breach to make
any payments under Section 6(c) of this Agreement. The party alleging a breach described in this Section 9(j) shall provide prompt written notice of such breach to the other party hereto, and the party receiving such notice shall have 10
days from the date of delivery of such notice (as determined in accordance with Section 11 hereof) to cure such breach to the reasonable satisfaction of the party delivering such notice. The party delivering the notice shall not be released of
its obligations hereunder unless the 10-day cure period shall have expired without the alleged breach having been cured in the manner described in the previous sentence. 
 10. SECTION 409A COMPLIANCE; AMENDMENTS. The Company shall have the unilateral right to amend or modify the Agreement to the extent the Company deems such action necessary or advisable to avoid the
imposition on any person of additional taxes, penalties or interest under Section 409A of the Code, and any such amendment shall not be a basis for a resignation by the Executive for Good Reason; provided, however, that any such
amendment or modification shall, to the maximum extent the Company reasonably and in good faith determines to be possible, retain the economic and tax benefits to the Executive hereunder while not materially increasing the cost to the Company of
providing such benefits to the Executive. Any determinations of the Company pursuant to this Section 10 shall be final, conclusive and binding on all persons. Except as otherwise provided for in this Section 10, the provisions of this
Agreement may not be amended, supplemented, waived or changed orally, but only by a writing signed by the party as to whom enforcement of any such amendment, supplement, waiver or modification is sought and making specific reference to this
Agreement. 
 11. NOTICE. All notices, requests, consents and other communications required or permitted under this Agreement shall be
in writing (including electronic transmission) and shall be (as elected by the person giving such notice) hand delivered by messenger or courier service, electronically transmitted, or mailed (airmail if international) by registered
or certified mail (postage prepaid), return receipt requested, addressed to: 
 If to the Executive: 
 Kurt L. Bagwell 
 If to the Company:

 SBA COMMUNICATIONS CORPORATION 
 5900 Broken Sound Parkway N.W. 
 Boca Raton, Florida 33487 
 Attn: President 
 With a copy to:

 Shearman & Sterling LLP 
 599 Lexington Avenue 
 New York, New York 10022 
 Attn: Kenneth J. Laverriere 
  

 14 

 or to such other address as any party may designate by notice complying with the provisions of this Section 11. Each
such notice shall be deemed delivered (a) on the date delivered if by personal delivery; (b) on the date of transmission with confirmed answer back if by electronic transmission; and (c) on the date upon which the return receipt is
signed or delivery is refused or the notice is designated by the postal authorities as not deliverable, as the case may be, if mailed. 
 12. ASSIGNMENTS. No party shall assign his or its rights and/or obligations under this Agreement without the prior written consent of each other party to this Agreement. The Company will require a successor to all or substantially
all of the business or assets of the Company to assume expressly and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform this Agreement if no such succession had taken place.

 13. COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of
which taken together shall constitute one and the same instrument. Confirmation of execution by electronic transmission of a facsimile signature page shall be binding upon any party so confirming. 
 14. ARBITRATION. Any dispute or controversy arising under or in connection with this Agreement that cannot be mutually resolved by the parties to
this Agreement and their respective advisors and representatives shall be settled exclusively by arbitration in Palm Beach County, Florida in accordance with the rules of the American Arbitration Association before one arbitrator of exemplary
qualifications and stature, who shall be selected jointly by an individual to be designated by the Company and an individual to be designated by the Executive, or if such two individuals cannot agree on the selection of the arbitrator, who shall be
selected by the American Arbitration Association. The Company shall pay for the cost of the arbitrator and the successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees, sales and use taxes, costs and all
expenses even if not taxable as court costs, incurred in the arbitration proceeding or any legal proceeding to enforce any award granted thereunder, in addition to any other relief to which such party or parties may be entitled. The parties hereby
agree to waive their right to have any dispute between them resolved in a court of law by a judge or jury; provided, however, that this Section 14 will not prevent the Company Group from seeking equitable or injunctive relief (or
any other provisional remedy) from any court having jurisdiction over the parties and the subject matter hereof relating to a breach or violation or threatened breach or violation of the Executive’s obligations under Section 9 hereof;
provided further that this Section 14 will not prevent either party from enforcing any arbitration award granted hereunder in any court having jurisdiction over the parties. 
 15. SEVERABILITY. If any provision of this Agreement or any other agreement entered into pursuant hereto is contrary to, prohibited by or deemed
invalid under applicable law or regulation, such provision shall be inapplicable and deemed omitted to the extent so contrary, prohibited or invalid, but the remainder hereof shall not be invalidated thereby and shall be given full force and effect
so far as possible. If any provision of this Agreement may be construed in two or more ways, one of which would render the provision invalid or otherwise voidable or unenforceable and another of which would render the provision valid and
enforceable, such provision shall have the meaning which renders it valid and enforceable. 
  

 15 

 16. ENTIRE AGREEMENT. This Agreement represents the entire understanding and agreement between the
parties with respect to the subject matter hereof, and supersedes all other negotiations, understandings and representations (if any) made by and between such parties, including the Original Agreement; provided, however, that
nothing in this Agreement shall be construed to modify any existing equity award granted to the Executive by the Company prior to the Effective Date. 
 17. GOVERNING LAW. This Agreement and all transactions contemplated by this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Florida. 
 18. AMENDMENT AND RESTATEMENT. This Agreement has been amended and restated for purposes of complying with Section 409A of the Code,
effective as of the Restatement Date. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first above
written. 
  

			
	SBA COMMUNICATIONS CORPORATION
		
	By:	 	 /s/ Jeffrey A. Stoops

		 	Jeffrey A. Stoops
		 	President and Chief Executive Officer
	
	KURT L. BAGWELL
	
	 /s/ Kurt L. Bagwell

  

 16

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