Document:

Form of Stock Option Award

 EXHIBIT 10.17 
  
 ENTRAVISION COMMUNICATIONS CORPORATION 
 2004 EQUITY INCENTIVE PLAN 
 STOCK OPTION AWARD 
  
 You have been granted an option (the “Option”) to purchase shares
of Class A common stock of Entravision Communications Corporation (the “Company”) under the Entravision Communications Corporation 2004 Equity Incentive Plan (the “Plan”) with the following terms and conditions: 
  

			
		
	Grant Date:	  	________________
		
	Type of Option:	  	[Nonqualified][Incentive] Stock Option
		
	Number of Option Shares:	  	             (Grant #             )
		
	Exercise Price per Share:	  	U.S. $            
		
	Expiration Date:	  	Close of business at the Company headquarters on the tenth (10th) anniversary of the Grant Date, subject to earlier termination as described under “Termination of
Employment”
		
	Vesting Schedule:	  	 

  

			
	 Number of Shares

	 	 Vesting Date[s]

	 	 	 

  

			
		
	 	  	Your Option will become fully vested if your employment terminates as a result of death, Disability or Retirement. Upon any other termination of employment, you will forfeit the portion of the
Option not vested as of the date of your termination. Your entire Option (whether vested or nonvested) is terminated if your employment is terminated for Cause. For this purpose, (1) if you are subject to an employment agreement with the Company or
an affiliate that includes a definition of “Cause,” that definition shall apply for purposes hereof, or (2) in any other case, “Cause” means any failure to adhere to any Company rule, regulation, policy or procedure, including
but not limited to the rules, regulations, policies or procedures set forth in the Company’s standard Employee Handbook as then in effect.

	 Manner of Exercise: 
	 You may exercise this Option only to the extent vested and only if the Option has not expired or terminated. To exercise this Option, you must
notify Mellon Investor Services by filing the proper exercise worksheet at the address given on the worksheet. Your worksheet must specify how many shares you wish to purchase and will explain how you must satisfy the exercise price and withholding
taxes due, if any, upon exercise. The worksheet will be effective when it is received by Mellon Investor Services. If someone else wants to exercise this Option after your death, that person must contact Mellon Investor Services and prove to the
Company’s satisfaction that he or she is entitled to do so. Your ability to exercise the Option may be restricted by the Company if required by applicable law. 

  

	 Termination of Employment: 
	 If your employment with the Company terminates, your Option will terminate on the close of business at the Company headquarters as follows:

  

	 	 •      If your employment terminates as a result of death or Disability, your Option will
terminate on the first (1st) anniversary of the date of your termination of employment. 

  

	 	 •      If your employment terminates for any other reason, your Option will terminate ninety
(90) days after the date of your termination of employment. 

  

	 	 However, in no event will this Option be exercisable after its Expiration Date. 

  

	 Transferability: 
	 You may not transfer or assign this Option for any reason, other than under your will or as required by intestate laws. Any attempted transfer or
assignment will be null and void. 

  

	 Restrictions on Resale: 
	 By accepting this Option, you agree not to sell any Shares acquired under this Option at a time when applicable laws, Company policies (including,
without limitation, the Company’s Insider Trading Policy) or an agreement between the Company and its underwriters prohibit a sale. 

  

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	 Change of Control: 
	 If this Option is assumed by the surviving company or purchaser (the “Successor Company”) in a Change of Control transaction, then the
Option shall continue to vest in accordance with the vesting schedule described above. If, however, you are terminated from employment by the Successor Company without Cause within twelve (12) months following the date of the Change of Control, this
Option shall become immediately and fully vested on the date of such termination. 

  

	 	 If this Option is not assumed, or a replacement option is not issued by the Successor Company in connection with a Change of Control, please refer
to the Plan for a description of your rights. 

  

	 Tax Consequences: 
	 If this Option is designated as a nonqualified stock option, the exercise of this Option will result in taxable income to you.

  

	 	 If this Option is designated as an incentive stock option, you understand that for the favorable tax treatment afforded to incentive stock options
to apply: 

  

	 	 •     You must hold the shares acquired upon exercise for a period of one (1) year from the date of
exercise and two (2) years from the Grant Date. 

  

	 	 •     The Exercise Price Per Share must equal at least the fair market value of a Share on the
Grant Date. While the Committee has made a good faith determination of the fair market value of a Share in this regard, neither the Committee, the Board nor the Company can guarantee that such determination will be considered fair market value, nor
will you or any other individual be entitled to any indemnification for any failure of the Committee to have made such a determination. 

  

	 	 •     If Shares with a fair market value (as determined on the Grant Date) in excess of $100,000
become exercisable (vested) for the first time in any calendar year (including for this purpose option shares granted under all other incentive stock options granted to you by the Company and its Subsidiaries), the number of Shares with a fair
market value in excess of such $100,000 limit will be considered issued under a nonqualified stock option. 

  

	 	 •     You must exercise this Option within ninety (90) days after termination of employment for any
reason other than Disability or death. Accordingly, if you exercise this Option more than ninety (90) days after such termination (if otherwise permitted by this Option), you will be treated as exercising a nonqualified stock option. For this
purpose, if you transfer to the employment of a subsidiary that is not a Subsidiary, you will be treated as terminated 

  

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from employment on the date of such transfer, or if you are employed by a Subsidiary, you will be treated as terminated from employment on the date such
entity ceases to meet the requirements of Code Section 422. In addition, you will be considered to have terminated employment for purposes of these rules on the ninety-first (91st)day of a military leave, sick leave or other bona fide leave of
absence unless your rights to return to active employment are guaranteed by law or contract. 

  

	 	 •      The excess of the Fair Market Value of the Shares at the time of exercise over the
amount you pay for such Shares may be an item of adjustment for alternative minimum tax (AMT) purposes on your personal tax return. 

  
 This Option is granted under and governed by the terms and conditions of the Plan. Additional provisions regarding your Option and definitions of capitalized terms used
and not defined in this Option can be found in the Plan. 
  
 BY
ACCEPTING THIS STOCK OPTION AWARD THROUGH MELLON INVESTOR SERVICES, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED HEREIN AND IN THE PLAN. YOU ALSO ACKNOWLEDGE RECEIPT OF THE PROSPECTUS DESCRIBING THE PLAN. 
  

	
	
	  
	Authorized Officer

  

 4Letter Agreement

 EXHIBIT 10.18 
  
  
 February 11, 2004 
  
  
 Personal and
Confidential 
  
 Christopher T. Young 
 53-17 Vernon Boulevard 
 Long Island City, New York 11101 
  
 Dear Chris: 
  
 This letter will confirm the terms of your employment with Entravision Communications Corporation (“Entravision”) as the President
and Chief Financial Officer of Entravision’s Outdoor Division for calendar year 2004. Notwithstanding the date of this letter above, the terms of this letter will be effective as of February 17, 2004. 
  
 As President and Chief Financial Officer of the Outdoor Division, you will be located in our
Long Island City office reporting to Entravision’s Chief Executive Officer and its President and Chief Operating Officer. 
  
 2004 Compensation 
  

	 	1.	Your compensation will be comprised of an annual base salary of $230,000.00 payable semi-monthly in accordance with Entravision’s normal payroll practices, and subject to
standard withholding. 

  

	 	2.	You will receive a quarterly bonus of $10,000.00 for achieving 115% of the budgeted EBITDA goals for the Outdoor Division, after giving consideration to bad debt (as defined below)
in such quarter. 

  

	 	3.	You will receive an annual bonus of $15,000.00 for achieving 115% of the budgeted EBITDA goals for the Outdoor Division, after giving consideration to bad debt in such year.

  
 Definition of Bad Debt 
  
 All local accounts sold in a given quarter that remain uncollected after ninety (90) days
will be offset against the quarterly bonus calculation in that respective quarter. All national accounts sold in a given quarter that remain uncollected after one hundred twenty (120) days will be offset against the quarterly bonus calculation in
that respective quarter. If any accounts receivable are collected within thirty (30) days following the prior determination of uncollectibility, such 

 
amount will be added back to the quarter from which it was deducted, less any direct expenses incurred by Entravision to collect such amount. 
  
 Right to Adjust Revenue Budget 
  
 During your employment for 2004, Entravision reserves the right in its sole and absolute
discretion to add, change, delete and/or modify your Entravision-approved budget, even if such changes have the net effect of reducing or eliminating any bonus to which you otherwise would have received hereunder. This includes, but is not limited
to, the right to increase budgeted revenue equal to any unexpected incremental revenue gains from political, non-traditional revenue (NTR), or any other business. 
  
 Trade 
  
 Within your 2004 budget, an agreed upon trade amount has been recorded. If the total actual trade amount exceeds the budgeted amount, that amount will be counted against
your broadcast cash flow. 
  
 Capital Expenditures 
  
 Within your 2004 budget, an agreed upon capital expenditure amount has been recorded. All
capital expenditures must be approved by corporate in writing prior to ordering. If the capital expenditure is ordered without prior authorization in writing, the amount purchased will be counted against your broadcast cash flow. 
  
 Violation of Company Policy 
  
 If, in Entravision’s sole judgment, you violate any company policy, including, without
limitation, any policy set forth in the employee handbook, that results in an operating expense to Entravision, any out-of-pocket expenses incurred by Entravision in defending against and/or remedying such violation (including, without limitation,
attorneys fees and the actual amount of any judgment or settlement) will be charged against your quarterly or annual defined sales goals. 
  
 Employee Benefits 
  
 As an existing employee of Entravision, your current employee benefits and time served with us will remain the same. 
  
 Employee Conditions 
  
 Employment with Entravision is “at-will” meaning that either Entravision or you may terminate your employment at any time for any reason whatsoever or for no reason, with or without notice. This letter
merely sets forth the terms of your employment with Entravision for such time during 2004 as you are so employed, and shall not be considered as entitlement to continued employment. 
  

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 Termination of Employment 
  
 Except in the event of termination of your employment with Entravision for cause (as defined below), and subject to execution by you of a
customary release waiving all claims against Entravision arising out of your employment with Entravision and the termination of such employment, Entravision agrees to pay you as severance the sum of $230,000.00, payable in equal installments over a
period of twelve (12) months in accordance with Entravision’s normal payroll practices and subject to standard withholding. “Cause” shall include, but not be limited to, any breach by you of this letter agreement or any failure to
adhere to any Entravision rule, regulation, policy or procedure, including, but not limited to, the rules, regulations, policies or procedures set forth in Entravision’s employee handbook as then in effect. 
  
 This letter supersedes any and all prior agreements with respect to the terms of your
employment with Entravision, whether written and oral, and any such prior agreement is hereby acknowledged to be null and void and of no further force and effect. 
  
 Please acknowledge your agreement with the terms set forth in this letter by signing and dating in the designated spaces below and returning
the original to me by return mail. A copy of this letter is enclosed for your records. 
  
 We thank you for all your hard work and look forward to a prosperous year. If you have any questions, please do not hesitate to contact me. 
  
 Sincerely, 
  
  
 Alexander K. La Brie 
 Vice President, Human
Resources 
  
 ACCEPTED: 
  

					
			
	 /s/    CHRISTOPHER T. YOUNG
	 	 	 	2/16/04
	 Christopher T. Young
	 	 	 	Date

  

	cc:	Walter F. Ulloa 

 Philip C. Wilkinson 
  
  

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