Document:

PURCHASE AGREEMENT

 Exhibit 10.69 
 SBA COMMUNICATIONS CORPORATION 
 $500,000,000 1.875% Convertible Senior Notes due 2013 
 Purchase Agreement 
 May 12, 2008

 Deutsche Bank Securities Inc., 
 Citigroup Global Markets
Inc., 
 Lehman Brothers Inc. 
 As Representatives of the several

 Initial Purchasers listed on 
 Schedule 1 hereto 
 c/o Deutsche Bank Securities Inc. 
 60 Wall Street 
 New York, New York 10005 
 Ladies and
Gentlemen: 
 SBA Communications Corporation, a Florida corporation (the “Company”), proposes to issue and sell to the
initial purchasers listed on Schedule 1 hereto (collectively, the “Initial Purchasers”) $500,000,000 principal amount of its 1.875% Convertible Senior Notes due May 1, 2013 (the “Firm Securities”) and, at the
option of the Initial Purchasers, up to an additional $50,000,000 principal amount of its 1.875% Convertible Senior Notes due May 1, 2013 (the “Additional Securities” and, together with the Firm Securities, the
“Securities”). The Securities will be issued pursuant to the Indenture, to be dated as of the Closing Date (as defined in Section 2(c)) (as the same may be amended, supplemented, waived or otherwise modified from time to time
in accordance with the terms thereof, the “Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”). 
 The Securities will be convertible into fully paid, nonassessable shares of Class A common stock of the Company, par value $0.01 per share (the
“Common Stock”), on the terms, and subject to the conditions, set forth in the Indenture. As used herein, “Conversion Shares” means the shares of Common Stock issuable upon conversion of the Securities. 

The Securities will be offered and sold to the Initial Purchasers without being registered under the Securities Act of 1933, as amended (the
“Securities Act”), in reliance upon an exemption therefrom. Holders of the Securities (including the Initial Purchasers and their direct and indirect transferees) will be entitled to the benefits of a Registration Rights Agreement,
to be dated as of the Closing Date, between the Company and you, as representatives (the “Representatives”) of the Initial Purchasers (the “Registration 

  

 i 

 
Rights Agreement”), pursuant to which the Company will agree to file with the Securities and Exchange Commission (the
“Commission”) a shelf registration statement pursuant to Rule 415 under the Securities Act (the “Registration Statement”), pursuant to which the Company will register the resale of the Securities and the Conversion
Shares under the Securities Act, subject to the terms and conditions therein specified. 
 The Company hereby confirms its agreement with the
Initial Purchasers concerning the purchase and sale of the Securities, as follows: 
 1. Offering Memorandum. The Company has prepared
a preliminary offering memorandum, dated May 12, 2008 (the “Preliminary Offering Memorandum”), and will prepare an offering memorandum, dated the date hereof (the “Final Offering Memorandum”), setting forth
information concerning the Company, the Securities and the Conversion Shares. Copies of the Preliminary Offering Memorandum have been, and copies of the Final Offering Memorandum will be, delivered by the Company to the Initial Purchasers pursuant
to the terms of this Agreement. The Company hereby confirms that it has authorized the use of the Preliminary Offering Memorandum, the other Time of Sale Information (as defined below) and the Final Offering Memorandum in connection with the
offering and resale of the Securities and the Conversion Shares by the Initial Purchasers in the manner contemplated by this Agreement. 
 Capitalized terms used but not defined herein shall have the meanings given to such terms in the Preliminary Offering Memorandum. References herein to the Preliminary Offering Memorandum, the Time of Sale Information and the Final Offering
Memorandum shall be deemed to refer to and include any document incorporated by reference therein. 
 At or prior to the time when sales of
the Securities were first made or confirmed by the Initial Purchasers (the “Time of Sale”), the following information shall have been prepared (collectively, the “Time of Sale Information”): the Preliminary Offering
Memorandum, as supplemented and amended by the written communications listed on Annex A hereto. 
 2. Purchase and Resale of the
Securities by the Initial Purchasers. The Company agrees to issue and sell the Firm Securities to the several Initial Purchasers as provided in this Agreement, and each Initial Purchaser, on the basis of the representations, warranties and
agreements set forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase from the Company the principal amount of Firm Securities set forth opposite that Initial Purchaser’s name in Schedule 1
hereto, plus any additional principal amount of Securities which such Initial Purchaser may become obligated to purchase pursuant to the provisions of Section 8, at a purchase price equal to 97.75% of the principal amount thereof (the
“Purchase Price”). 
 In addition, on the basis of the representations and warranties contained in this Agreement, and
subject to its terms and conditions, the Company agrees to sell to the Initial Purchasers the Additional Securities, and each Initial Purchaser shall have the 

 
right, severally and not jointly, to purchase the principal amount of Additional Securities that bears the same proportion to the aggregate principal amount
of Additional Securities to be sold on the Additional Closing Date as the principal amount of Firm Securities set forth in Schedule 1 hereto opposite the name of such Initial Purchaser bears to the aggregate principal amount of Firm Securities, at
the Purchase Price plus accrued interest, if any, from the Closing Date (as defined below) to the Additional Closing Date, solely to cover over-allotments, if any. If you exercise such option, you shall so notify the Company in writing not later
than thirty (30) calendar days after the date of this Agreement, which notice shall specify the principal amount of Additional Securities to be purchased by the Initial Purchasers and the date on which such Additional Securities are to be
purchased. Such date may be the same as the Closing Date but not earlier than the Closing Date and not later than ten (10) Business Days after the date of such notice. 
 (a) The Company understands that the Initial Purchasers intend to offer the Securities for resale pursuant to Rule 144A under the Securities Act
(“Rule 144A”) on the terms set forth in the Time of Sale Information and the Final Offering Memorandum. Each Initial Purchaser severally represents, warrants and agrees with the Company that: 
 (i) it is a qualified institutional buyer within the meaning of Rule 144A under the Securities Act (a “QIB”) and an
accredited investor within the meaning of Rule 501(a) under the Securities Act; 
 (ii) it is purchasing the Securities
pursuant to an exemption under the Securities Act; 
 (iii) it has not solicited offers for, or offered or sold, and will not
solicit offers for, or offer or sell, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act (“Regulation D”) or in any manner
involving a public offering within the meaning of Section 4(2) of the Securities Act; and 
 (iv) it has solicited offers
and will solicit offers for the Securities only from, and has offered, sold and delivered and will offer, sell and deliver the Securities only to persons whom it reasonably believes to be QIBs or if any such person is buying for one or more
institutional accounts for which such person is acting as fiduciary or agent, only when such person has represented to it that each such account is a QIB to whom notice has been given that such sale is being made in reliance on Rule 144A.

 The Company acknowledges and agrees that, subject to the terms and conditions of this Agreement, the Initial Purchasers may offer and sell
Securities to or through any affiliates of the Initial Purchasers and that any such affiliate may offer and sell Securities purchased by it to or through the Initial Purchasers. 

 (b) Payment for the Firm Securities shall be made
by wire transfer in immediately available funds to the account specified by the Company to the Initial Purchasers at the offices of Davis Polk & Wardwell, 450 Lexington Avenue, New York, New York at 10:00 a.m., New York City time, on
May 16, 2008, or at such other time or place on the same or such other date, not later than the fifth (5th) Business Day after
May 16, 2008, as the Initial Purchasers and the Company may agree upon in writing. 
 (c) Payment for any Additional Securities shall be
made on the date and at the time and place specified by the Initial Purchasers in the written notice of the Initial Purchasers’ election to purchase such Additional Securities. The time and date of such payment for the Firm Securities is
referred to herein as the “Closing Date” and the time and date for such payment for the Additional Securities, if other than the Closing Date, is herein referred to as the “Additional Closing Date.” 
 Certificates for the Firm Securities and Additional Securities shall be in global form, registered in such names and in such denominations as you shall
request in writing not later than one (1) full Business Day prior to the Closing Date or the Additional Closing Date, as the case may be. The certificates evidencing the Firm Securities and Additional Securities shall be delivered to you on the
Closing Date or the Additional Closing Date, as the case may be, for the account of the Initial Purchasers, with any documentary stamp taxes or other taxes payable in connection with the issuance of the Securities to the Initial Purchasers duly paid
by the Company, against payment of the Purchase Price therefor plus accrued interest, if any, to the Additional Closing Date on the Additional Closing Date. 
 (d) The Company acknowledges and agrees that each Initial Purchaser is acting solely in the capacity of an arm’s length contractual counterparty to the Company with respect to the offering of Securities and
Conversion Shares contemplated hereby (including in connection with determining the terms of the offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any other person. Additionally, the Initial Purchasers are
not advising the Company or any other person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction. The Company shall consult with its own advisors concerning such matters and shall be responsible for making its own
independent investigation and appraisal of the transactions contemplated hereby, and the Initial Purchasers shall have no responsibility or liability to the Company with respect thereto. Any review by the Initial Purchasers of the Company and the
transactions contemplated hereby or other matters relating to such transactions will be performed solely for the benefit of the Initial Purchasers and shall not be on behalf of the Company. 
 (e) Each Initial Purchaser agrees that, prior to or simultaneously with the confirmation of sale by the Initial Purchaser to any purchaser of any of the
Securities purchased by the Initial Purchaser from the Company pursuant hereto, the Initial Purchaser shall furnish to that purchaser a copy of the Time of Sale Information. In addition to the foregoing, each Initial Purchaser acknowledges and
agrees that the Company, and for purposes of the opinions to be delivered to the Initial Purchasers pursuant to Section 6(i) and (j), counsel for the Company and for the Initial Purchasers, respectively, may rely upon the accuracy of the
representations and warranties of each Initial Purchaser and its compliance with its agreements contained in this Section 2, and each Initial Purchaser hereby consents to such reliance. 

 3. Representations and Warranties of the Company. The Company represents and warrants to, and
agrees with, the Initial Purchasers that: 
 (a) Preliminary Offering Memorandum, Time of Sale Information and Final Offering
Memorandum. The Preliminary Offering Memorandum, as of its date, did not, the Time of Sale Information, at the Time of Sale, did not, and at the Closing Date and as of any Additional Closing Date, as the case may be, will not, and the Final
Offering Memorandum, in the form first used by the Initial Purchasers to confirm sales of the Securities and as of the Closing Date and as of any Additional Closing Date, as the case may be, will not, contain any untrue statement of a material fact
or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company makes no representation or warranty with respect to
any information contained in or omitted from the Preliminary Offering Memorandum, any Time of Sale Information or the Final Offering Memorandum in reliance upon and in conformity with written information relating to the Initial Purchasers furnished
to the Company by the Initial Purchasers expressly for use in the Preliminary Offering Memorandum, the Time of Sale Information or the Final Offering Memorandum (the “Initial Purchasers’ Information”), which information is
identified in Section 14. 
 (b) Additional Written Communications. The Company (including its agents and representatives, other
than the Initial Purchasers in its capacity as such) has not made, used, prepared, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any written communication that constitutes an offer to sell or
solicitation of an offer to buy the Securities except for (i) the Preliminary Offering Memorandum and the Final Offering Memorandum, (ii) the documents listed on Annex A hereto, including a term sheet substantially in the form of Annex B
hereto, and (iii) other written communications used in accordance with Section 4(c). 
 (c) Incorporated Documents. The
documents incorporated by reference in the Time of Sale Information and the Final Offering Memorandum, when they were filed with the Commission, conformed in all material respects to the requirements of the Securities Exchange Act of 1934, as
amended and the applicable rules and regulations of the Commission thereunder (the “Exchange Act”), and none of such documents contained an untrue statement of a material fact or omitted to state a material fact necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading; and any further documents so filed and incorporated by reference in the Time of Sale Information and the Final Offering Memorandum, when such
documents are filed with the Commission, will conform in all material respects to the requirements of the Exchange Act, and will not contain an untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading. 

 (d) Financial Statements. The consolidated historical financial statements, together with the
related notes thereto, included or incorporated by reference in each of the Time of Sale Information and the Final Offering Memorandum fairly present the financial position of the Company at the respective dates indicated and the results of
operations and cash flows for the respective periods indicated, in each case in accordance with generally accepted accounting principles (“GAAP”) consistently applied throughout such periods. The other financial information and data
included or incorporated by reference in each of the Time of Sale Information and the Final Offering Memorandum are, in all material respects, accurately presented and prepared on a basis consistent with such financial statements and the books and
records of the Company. 
 (e) No Material Adverse Change. Neither the Company nor any of its subsidiaries has sustained, since the
date of the latest audited financial statements included or incorporated by reference in each of the Time of Sale Information and the Final Offering Memorandum, any material loss or interference with its business from fire, explosion, flood or other
calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in each of the Time of Sale Information and the Final Offering Memorandum; and,
since such date, there has not been any change in the capital stock or long-term debt of the Company on a consolidated basis or any material adverse change, or any development involving a prospective material adverse change, in or affecting the
general affairs, management, consolidated financial position, stockholders’ equity, results of operations, business or prospects of the Company and its subsidiaries taken as a whole, in each case otherwise than as set forth or contemplated in
each of the Time of Sale Information and the Final Offering Memorandum. 
 (f) Organization and Good Standing. The Company is duly
incorporated and validly existing and in good standing under the laws of Florida with all requisite corporate power and authority to own, lease and operate its properties and to conduct its business as described in each of the Time of Sale
Information and the Final Offering Memorandum, and is duly registered and qualified to conduct its business and is in good standing in each jurisdiction or place where the nature of its properties or the conduct of its business requires such
registration or qualification, except to the extent that the failure to be duly registered or qualified or in good standing, would not, individually or in the aggregate, have caused a material adverse effect on the general affairs, management,
consolidated financial position, stockholders’ equity, results of operations, business or prospects of the Company and the subsidiaries taken as a whole (a “Material Adverse Effect”), and none of the subsidiaries of the Company
other than SBA CMBS-1 Holdings LLC, SBA CMBS-1 Guarantor LLC, SBA Telecommunications, Inc., SBA Senior Finance Inc., SBA Senior Finance II LLC, SBA Properties, Inc., SBA Towers, Inc., SBA Towers II, LLC, SBA Structures, Inc. and SBA CMBS-1 Depositor
LLC (collectively, the “Significant Subsidiaries”) is a “significant subsidiary” as such term is defined in Rule 405 under the Securities Act. 
 (g) Each of the subsidiaries of the Company is duly organized and validly existing and in good standing under the laws of the jurisdiction of its organization, with all requisite power and authority to own, lease and
operate its properties and is duly registered 

 
and qualified to conduct its business and is in good standing in each jurisdiction or place where the nature of its properties or the conduct of its business
requires such registration or qualification, except where the failure to be duly registered or qualified would not, individually or in the aggregate, have caused a Material Adverse Effect. The Company and the subsidiaries, as a whole, conduct their
business as described in each of the Time of Sale Information and the Final Offering Memorandum. 
 (h) Capitalization of the Company.
The Company has an authorized capitalization as set forth in each of the Time of Sale Information and the Final Offering Memorandum, and all of the issued shares of capital stock of the Company have been duly and validly authorized and issued, are
fully paid and non-assessable and conform in all material respects to the description thereof contained in each of the Time of Sale Information and the Final Offering Memorandum. 
 (i) Capitalization of the Company’s Subsidiaries. All of the issued shares of capital stock of each subsidiary of the Company have been duly
authorized and validly issued and are fully paid and non-assessable, are owned directly or indirectly by the Company, and (except as set forth in each of the Time of Sale Information and the Final Offering Memorandum with respect to shares subject
to liens under or pursuant to the Second Loan and Security Agreement Supplement and Amendment, dated as of November 6, 2006, entered into among SBA Properties, Inc., SBA Towers, Inc., SBA Puerto Rico, Inc., SBA Sites, Inc., SBA Towers USVI,
Inc., and SBA Structures, Inc., as borrowers, and Midland Loan Services, Inc., as Servicer on behalf of LaSalle Bank National Association as Trustee, as amended, supplemented or otherwise modified from time to time, the “Mortgage
Loan” and the Credit Agreement, dated as of January 18, 2008, by and among SBA Senior Finance, Inc. and the lenders from time to time parties thereto, as amended, supplemented or otherwise modified from time to time (the
“Revolving Senior Credit Agreement”) free and clear of all liens, encumbrances, equities, claims or adverse interests. 
 (j) Full Power. The Company has full right, power and authority to execute and deliver this Agreement, the Securities, the Indenture and the Registration Rights Agreement (collectively, the “Transaction Documents”),
and the Company has full right, power and authority to perform its obligations hereunder and thereunder; and, as of the Closing Date, all corporate action required to be taken for the due and proper authorization, execution, issuance and delivery of
each of the Transaction Documents and the consummation of the transactions contemplated thereby has been or will have been duly and validly taken. The Company has the full right, power and authority to issue and deliver the Conversion Shares.

 (k) The Indenture. The Indenture has been duly authorized and, assuming the due authorization, execution and delivery of the
Indenture by the Trustee, constitutes a valid and legally binding instrument, enforceable in accordance with its terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization and similar laws relating to or affecting creditors’
rights and to general equity principles; on the Closing Date, the Indenture will conform in all material respects to the requirements of the Trust Indenture Act of 

 
1939, as amended (the “Trust Indenture Act”), and the rules and regulations of the Commission applicable to an indenture that is qualified
thereunder; and the Indenture conforms in all material respects to the descriptions thereof in each of the Time of Sale Information and the Final Offering Memorandum. 
 (l) The Securities. The Securities have been duly authorized and, when issued and delivered by the Company and paid for by the Initial Purchasers pursuant to this Agreement and duly authenticated by the Trustee
will have been duly executed, authenticated, issued and delivered and will constitute valid and legally binding obligations of the Company entitled to the benefits provided by the Indenture, and will be enforceable in accordance with their terms,
subject, as to enforcement, to bankruptcy, insolvency, reorganization and similar laws relating to or affecting creditors’ rights and to general equity principles; and the Securities conform in all material respects to the descriptions thereof
in each of the Time of Sale Information and the Final Offering Memorandum. The Securities will be convertible into Common Stock in accordance with their terms and the terms of the Indenture. 
 (m) The Conversion Shares. The Conversion Shares have been duly authorized by the Company and reserved for issuance by the Company upon such
conversion by all necessary corporate action and such Conversion Shares, when issued upon such conversion, will be duly issued, fully paid and non-assessable, and the issuance of such Conversion Shares will not be subject to preemptive or similar
rights of any shareholder of the Company arising by law, under the charter or by-laws of the Company or under any agreement to which the Company or any of its subsidiaries is a party. No holder of the Conversion Shares will be subject to personal
liability by reason of being such a holder. 
 (n) Purchase Agreement. This Agreement has been duly and validly authorized, executed
and delivered by the Company. 
 (o) Registration Rights Agreement. The Registration Rights Agreement has been duly authorized by the
Company and, when duly executed and delivered on the Closing Date in accordance with its terms by each of the parties thereto, will constitute a valid and legally binding agreement of the Company enforceable against the Company in accordance with
its terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization and similar laws relating to or affecting creditors’ rights and to general equity principles, and except that rights to indemnity and contribution thereunder may
be limited by applicable law and public policy considerations. 
 (p) Descriptions of the Transaction Documents. Each Transaction
Document conforms in all material respects to the description thereof contained in each of the Time of Sale Information and the Final Offering Memorandum. The statements set forth in each of the Time of Sale Information and the Final Offering
Memorandum under the caption “Description of Notes” and “Registration Rights,” insofar as they purport to constitute a summary of the material terms of the Securities, under the captions “Material United Stated Federal
Income and Estate Tax Considerations” and “Plan of Distribution,” insofar as they purport to describe the provisions of the documents referred to therein, fairly summarize in all material respects the matters referred to therein. The
statements set forth in 

 
each of the Time of Sale Information and the Final Offering Memorandum under the captions “Description of Capital Stock,” insofar as they purport
to constitute a summary of the material terms of the Common Stock fairly summarize in all material respects the matters referred to therein. 
 (q) No Violation or Default. Neither the Company nor any of the Significant Subsidiaries (i) is in violation of its charter or by-laws, (ii) is in default, and no event has occurred which, with notice or lapse of time or
both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which it is a party or by which it
is bound or to which any of its properties or assets is subject or (iii) is in violation of any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries
or any of their properties or assets, other than, a default or violation described in clauses (ii) and (iii) which is not reasonably likely to have a Material Adverse Effect. 
 (r) No Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation of the transactions contemplated
hereby will not conflict with, or result in a breach or violation of any of the terms or provisions of, or (including with the giving of notice or the lapse of time or both) constitute a default under (i) any indenture, mortgage, deed of trust,
loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties or assets of the Company or any of its
subsidiaries is subject, (ii) the provisions of the charter, by-laws or other organizational documents of the Company or any of its subsidiaries, (iii) any internal policy of the Company or any of its subsidiaries or (iv) to the
knowledge of the Company, any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their properties or assets, except in the cases of clause
(i) or (iv), such breaches, violations or defaults that in the aggregate would not have a Material Adverse Effect. 
 (s) No Consents
Required. No consent, approval, authorization or order of, or filing or registration with, any court or governmental agency or body is required for the execution, delivery and performance by the Company of each of the Transaction Documents, the
issuance, authentication, sale and delivery of the Securities and the Conversion Shares in accordance with the terms and conditions of the Indenture and compliance by the Company with the terms thereof and the consummation of the transactions
contemplated by the Transaction Documents, including the use of proceeds therewith as described in the Time of Sale Information and the Final Offering Memorandum, except for such consents, approvals, authorizations, orders, filings and registrations
which shall have been obtained or made prior to the Closing Date or as may be required to be obtained or made under the Trust Indenture Act, the Securities Act and applicable state securities laws as contemplated in the Registration Rights
Agreement. 

 (t) No Legal Impediment to Issuance. No action has been taken and no statute, rule, regulation or
order has been enacted, adopted or issued by any governmental agency or body which prevents the issuance of the Securities or the issuance of the Conversion Shares in accordance with the terms and conditions of the Indenture or suspends the sale of
the Securities in any jurisdiction; no injunction, restraining order or order of any nature by any federal or state court of competent jurisdiction has been issued with respect to the Company or any of its subsidiaries which would prevent or suspend
the issuance, authentication, sale or delivery of the Securities or the use of the Time of Sale Information or the Final Offering Memorandum in any jurisdiction; no action, suit or proceeding is pending against or, to the best knowledge of the
Company, threatened against or affecting the Company or any of its subsidiaries before any court or arbitrator or any governmental agency, body or official, domestic or foreign, which could reasonably be expected to interfere with or adversely
affect the issuance of the Securities or in any manner reasonably draws into question the validity or enforceability of any of the Transaction Documents or any action taken or to be taken pursuant thereto; and the Company has complied with any and
all requests by any securities authority in any jurisdiction for additional information to be included in the Time of Sale Information and the Final Offering Memorandum. 
 (u) Legal Proceedings. There are no legal or governmental proceedings pending or, to the knowledge of the Company or its subsidiaries, threatened against the Company or any of its subsidiaries or to which any
of their respective properties is subject, that are not disclosed in the Time of Sale Information and the Final Offering Memorandum and which are reasonably likely to have a Material Adverse Effect or to materially affect the issuance of the
Securities. 
 (v) Independent Accountants. Ernst & Young LLP, who have certified certain financial statements of the
Company, whose report appears in the Form 10-K incorporated by reference into the Time of Sale Information and the Final Offering Memorandum and who have delivered the initial letter referred to in Section 6(h), are independent public
accountants as required by the Securities Act and the applicable rules and regulations of the Commission thereunder and were independent accountants under the guidelines of the American Institute of Certified Public Accountants as required by the
Securities Act and the applicable rules and regulations of the Commission thereunder during the periods covered by the financial statements on which they reported incorporated by reference into the Time of Sale Information and the Final Offering
Memorandum. 
 (w) Title to Real and Personal Property. The Company and each of its subsidiaries have good and marketable title in fee
simple to or a leasehold interest in all real property and good and valid title to all personal property owned by them, in each case free and clear of all liens, encumbrances, defects, equities or claims except for liens contemplated by the Mortgage
Loan, the Revolving Senior Credit Agreement or as are otherwise described in each of the Time of Sale Information and the Final Offering Memorandum or such as do not materially affect the value of such property and do not materially interfere with
the use made and proposed to be made of such property by the Company and its subsidiaries; all assets held under lease by the Company and its subsidiaries are held by them 

 
under valid, subsisting and enforceable leases, with such exceptions as are not material and do not materially interfere with the use made and proposed to be
made of such assets by the Company and its subsidiaries taken as a whole; and the present and contemplated use of the assets owned or leased by the Company or any of its subsidiaries for the operation of towers is in compliance in all material
respects with all applicable zoning ordinances and regulations and other laws and regulations where failure so to comply would result, or create reasonable risk of resulting, in a Material Adverse Effect. 
 (x) Title to Intellectual Property. The Company and each of its subsidiaries own or possess adequate rights to use all patents, patent
applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, inventions, know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information,
systems or procedures) and licenses necessary for the conduct of their respective businesses and have no reason to believe that the conduct of their respective businesses will conflict with, and have not received any notice of any claim of conflict
with, any such rights of others, in each case except as could not reasonably be expected to have a Material Adverse Effect. 
 (y) No
Undisclosed Relationships. No material relationship, direct or indirect, exists between or among the Company and the Significant Subsidiaries on the one hand, and the directors, officers, stockholders, affiliates, customers or suppliers of the
Company and the Significant Subsidiaries on the other hand, that would be required by the Securities Act to be described in a registration statement filed with the Commission and that is not so described in each of the Time of Sale Information and
the Final Offering Memorandum. 
 (z) Investment Company Act. Neither the Company nor any of its subsidiaries is currently or will be,
upon the sale of the Securities in accordance herewith and the application of the net proceeds therefrom as described in each of the Time of Sale Information and the Final Offering Memorandum under the caption “Use of Proceeds,” an
“investment company” within the meaning of and subject to regulation under the Investment Company Act of 1940, as amended (the “Investment Company Act”). 
 (aa) Taxes. Each of the Company and its subsidiaries has filed all federal, state and local income and franchise tax returns required to be filed
through the date hereof and has paid all taxes due thereon except where such failure would not have a Material Adverse Effect, and no tax deficiency has been determined adversely to the Company or any of its subsidiaries nor does the Company or any
of its subsidiaries have any knowledge of any tax deficiency which, if determined adversely to the Company, would have a Material Adverse Effect. 
 (bb) FCC and FAA Matters. The Company and its subsidiaries (i) have duly and timely filed all material reports, registrations and other material filings, if any, which are required to be filed by it or any of its subsidiaries
under the Communications Act of 1934, any similar or successor federal statute, and the rules of the Federal Communications Commission (the “FCC”) thereunder or any 

 
other applicable law, rule or regulation of any governmental authority, including the FCC and the Federal Aviation Authority (the “FAA”),
other than such filings for which the failure to file would not result, or would not be reasonably likely to result, in a Material Adverse Effect and (ii) are in compliance with all such laws, rules, regulations and ordinances, including those
promulgated by the FCC and the FAA, other than such compliance for which the failure to comply would not result, or would not be reasonably likely to result, in a Material Adverse Effect. All information provided by or on behalf of the Company or
any affiliate in any material filing, if any, with the FCC and the FAA relating to the business of the Company and its subsidiaries was, to the knowledge of such person at the time of filing, complete and correct in all material respects when made,
and the FCC and the FAA have been notified of any substantial or significant changes in such information as may be required in accordance with applicable requirements of law. The industry-related, tower-related and customer-related data and
estimates included or incorporated by reference in each of the Time of Sale Information and the Final Offering Memorandum are based on or derived from sources which the Company believes to be reliable and accurate. For each existing tower of the
Company (or of its subsidiaries) not yet registered with the FCC where registration will be required, the FCC’s grant of an application for registration of such tower will not have a significant environmental effect as defined under
Section 1.1307(a) of the FCC’s rules. 
 (cc) No Labor Disputes. Neither the Company nor any of its subsidiaries is involved
in any strike or labor dispute with any group of employees, and, to the knowledge of the Company or any of its subsidiaries, no such action or dispute is threatened, which might be expected to have a Material Adverse Effect. 
 (dd) Compliance With Environmental Laws. There has been no storage, disposal, generation, manufacture, refinement, transportation, handling or
treatment of toxic wastes, hazardous wastes or hazardous substances by the Company or any of its subsidiaries (or, to the knowledge of the Company, any of their predecessors in interest) at, upon or from any of the property now or previously owned
or leased by the Company or any of its subsidiaries in violation of any applicable law, ordinance, rule, regulation, order, judgment, decree or permit or which would require remedial action under any applicable law, ordinance, rule, regulation,
order, judgment, decree or permit, except for any violation or remedial action which would not have, or could not be reasonably likely to have, singularly or in the aggregate with all such violations and remedial actions, a Material Adverse Effect;
there has been no material spill, discharge, leak, emission, injection, escape, dumping or release of any kind onto such property or into the environment surrounding such property of any toxic wastes, medical wastes, solid wastes, hazardous wastes
or hazardous substances due to or caused by the Company or any of its subsidiaries or with respect to which the Company or any of its subsidiaries has knowledge, except for any such spill, discharge, leak, emission, injection, escape, dumping or
release which would not have or would not be reasonably likely to have, singularly or in the aggregate with all such spills, discharges, leaks, emissions, injections, escapes, dumpings and releases, a Material Adverse Effect; and the terms
“hazardous wastes,” “toxic wastes,” “hazardous substances” and “medical wastes” shall have the meanings specified in any applicable local, state, federal and foreign laws or regulations with respect to
environmental protection. 

 (ee) Compliance With ERISA. The Company is in compliance in all material respects with all
presently applicable provisions of the Employee Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations thereunder (“ERISA”); no “reportable event” (as defined in ERISA)
has occurred with respect to any “pension plan” (as defined in ERISA) for which the Company would have any liability; the Company has not incurred nor expects to incur liability under (i) Title IV of ERISA with respect to termination
of, or withdrawal from, any “pension plan” or (ii) except where such liability would not have a Material Adverse Effect, Sections 412 or 4971 of the Internal Revenue Code of 1986, as amended, including the regulations and published
interpretations thereunder (the “Code”); and each “pension plan” for which the Company would have any liability that is intended to be qualified under Section 401(a) of the Code is so qualified in all material
respects and nothing has occurred, whether by action or by failure to act, which would cause the loss of such qualification. 
 (ff)
Disclosure Controls. The Company has established and maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Exchange Act), which (i) are designed to ensure that material information relating to
the Company, including its consolidated subsidiaries, is made known to the Company’s principal executive officer and its principal financial officer or persons performing similar functions by others within the Company, particularly during the
periods in which the periodic reports required under the Exchange Act are being prepared; (ii) have been evaluated for effectiveness as of March 31, 2008; and (iii) are effective in all material respects to perform the functions for
which they were established. Based on the evaluation of its disclosure controls and procedures as of March 31, 2008, the Company is not aware of (i) any significant deficiency in the design or operation of internal controls which could
adversely affect the Company’s ability to record, process, summarize and report financial data or any material weaknesses in internal controls that has not been remedied, except as described in each of the Time of Sale Information and the Final
Offering Memorandum or (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal controls. Since the date of the most recent evaluation of such disclosure
controls and procedures, there have been no significant changes in internal controls or in other factors that could significantly affect internal controls, including any corrective actions with regard to significant deficiencies and material
weaknesses. 
 (gg) Accounting Controls. The Company and its subsidiaries have a system of internal accounting controls sufficient to
provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of its consolidated financial
statements in conformity with GAAP and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the reported accountability for assets
is compared with existing assets at reasonable intervals. 

 (hh) Insurance. The Company and each of its subsidiaries carry, or are covered by, insurance in
such amounts and covering such risks as is adequate for the conduct of their respective businesses and the value of their respective properties and as is customary for companies engaged in similar businesses in similar industries. 
 (ii) No Unlawful Payments. Neither the Company nor any of its subsidiaries, nor, to the Company’s knowledge, any director, officer, agent,
employee or other person associated with or acting on behalf of the Company or any of its subsidiaries, has used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; made
any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977; or made any bribe, rebate, payoff,
influence payment, kickback or other unlawful payment. 
 (jj) Solvency. On the Closing Date and immediately after giving effect to
the issuance of the Securities and the consummation of the other transactions related thereto as described in each of the Time of Sale Information and the Final Offering Memorandum, the Company will be Solvent. As used in this paragraph, the term
“Solvent” means, with respect to a particular date, that on such date (i) the present fair market value (or present fair saleable value) of the assets of the Company is not less than the total amount required to pay the probable
liabilities of the Company on its total existing debts and other liabilities (including contingent liabilities, computed at the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can
reasonably be expected to become an actual or matured liability) as they become absolute and matured; (ii) the Company is able to realize upon its assets and pay its debts and other liabilities (including such contingent liabilities) as they
mature and become due in the normal course of business; (iii) assuming consummation of the issuance of the Securities as contemplated by this Agreement, the Time of Sale Information and the Final Offering Memorandum, the Company has not
incurred, and does not propose to incur, debts that would be beyond its ability to pay as such debts and other liabilities mature; (iv) the Company is not engaged in any business or transaction, and does not propose to engage in any business or
transaction, for which its property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which the Company is engaged; and (v) the Company is not a defendant in any civil
action that would result in a judgment that the Company is or would become unable to satisfy. 
 (kk) No Material Adverse Effect.
Since the date of the latest audited consolidated financial statements of the Company incorporated by reference in each of the Time of Sale Information and the Final Offering Memorandum, neither the Company nor any of its subsidiaries has incurred
any liability or obligation, direct or contingent, or entered into any transaction, in each case not in the ordinary course of business, and that is material to the Company and its subsidiaries, taken as a whole, and there has been no Material
Adverse Effect, nor to the Company’s knowledge, after due inquiry, any development or event involving a prospective Material Adverse Effect and, except as disclosed in or contemplated by each of the Time of Sale Information and the Final
Offering Memorandum, since the date of the latest audited consolidated financial statements of the Company incorporated by reference in 

 
each of the Time of Sale Information and the Final Offering Memorandum, there has been no (i) dividend or distribution of any kind declared, paid or
made by the Company on any class of its capital stock, (ii) issuance of securities, other than the securities issued pursuant to the Company’s 1999 Equity Participation Plan, the Company’s 2001 Equity Participation Plan, the
Company’s 1999 Employee Stock Purchase Plan and shares of common stock of the Company issued pursuant to the registration statements on Form S-4 (File Nos. 333-71460, 333-46730, 333-139005 and 333-147473) or (iii) material increase in
short-term or long-term debt of the Company on a consolidated basis. 
 (ll) No Restrictions on Subsidiaries. Except as described in
the Time of Sale Information or the Final Offering Memorandum, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to
the Company, from making any other distribution on such subsidiary’s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets
to the Company or any other subsidiary of the Company. 
 (mm) Rule 144A Eligibility. On the Closing Date, the Securities will not be
of the same class as securities listed on a national securities exchange registered under Section 6 of the Exchange Act or quoted in an automated inter-dealer quotation system; and each of the Preliminary Offering Memorandum and the Final
Offering Memorandum, as of its respective date, contains all the information that, if requested by a prospective purchaser of the Securities, would be required to be provided to such prospective purchaser pursuant to Rule 144A(d)(4) under the
Securities Act. 
 (nn) No Integration. Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) has,
directly or through any agent, sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any security (as defined in the Securities Act), that is or will be integrated with the sale of the Securities in a manner that
would require registration of the Securities under the Securities Act. 
 (oo) No General Solicitation. None of the Company or any of
its affiliates or any other person acting on its or their behalf (other than the Initial Purchasers, as to which no representation is made) has solicited offers for, or offered or sold, the Securities by means of any form of general solicitation or
general advertising within the meaning of Rule 502(c) of Regulation D. 
 (pp) Securities Law Exemptions. Assuming the accuracy of the
representations and warranties of the Initial Purchasers contained in Section 2(a), it is not necessary, in connection with the issuance and sale of the Securities to the Initial Purchasers and the offer, resale and delivery of the Securities
by the Initial Purchasers in the manner contemplated by this Agreement, the Time of Sale Information and the Final Offering Memorandum, to register the Securities under the Securities Act or to qualify the Indenture under the Trust Indenture Act.

 (qq) No Stabilization. Neither the Company, nor to its knowledge, any of its affiliates, has taken
or may take, directly or indirectly, any action designed to cause or result in, or which has constituted or which might reasonably be expected to constitute, the stabilization or manipulation of the price of the shares of Common Stock (including the
Conversion Shares) to facilitate the sale or resale of such shares. 
 (rr) Margin Rules. Neither the issuance, authentication, sale
and delivery of the Securities nor the application of the proceeds thereof by the Company as described in each of the Time of Sale Information and the Final Offering Memorandum will violate Regulation T, U or X of the Board of Governors of the
Federal Reserve System. 
 (ss) Sarbanes-Oxley Act. The Company is and, to the knowledge of the Company, the Company’s directors
and officers (in their capacities as such) are in compliance in all material respects with any applicable provision of the U.S. Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith. 
 4. Further Agreements of the Company. The Company agrees with the Initial Purchasers that: 
 (a) Delivery of Copies. The Company will deliver to the Initial Purchasers, without charge, as many copies of the Preliminary Offering Memorandum,
any other Time of Sale Information and the Final Offering Memorandum (including all amendments and supplements thereto) as the Initial Purchasers may reasonably request. 
 (b) Offering Memorandum, Amendments or Supplements. Before finalizing the Preliminary Offering Memorandum or making or distributing any amendment or supplement to any of the Time of Sale Information or the
Final Offering Memorandum, the Company will furnish to the Initial Purchasers and counsel for the Initial Purchasers a copy of the proposed Preliminary or Final Offering Memorandum or such amendment or supplement for review, and will not distribute
any such proposed Preliminary or Final Offering Memorandum, amendment or supplement to which the Initial Purchasers reasonably object. 
 (c)
Additional Written Communications. Before using, authorizing, approving or referring to any “written communication” (as defined in the Securities Act) that constitutes an offer to sell or a solicitation of an offer to buy the
Securities (an “Issuer Written Communication”) (other than written communications that are listed on Annex A hereto, the Preliminary Offering Memorandum and the Final Offering Memorandum), the Company will furnish to the Initial
Purchasers and counsel for the Initial Purchasers a copy of such written communication for review and will not use, authorize, approve or refer to any such written communication to which the Initial Purchasers reasonably object. 

 Prior to the Closing Date, the Company will not issue any press release or other communication directly
or indirectly or hold any press conference with respect to the Company, its condition, financial or otherwise, or earnings, business affairs or business prospects (except for routine oral marketing communications in the ordinary course of business
and consistent with the past practices of the Company and of which the Initial Purchasers are notified), without the prior written consent of the Initial Purchasers, unless in the judgment of the Company and its counsel, and after notification to
the Initial Purchasers, such press release or communication is required by law. 
 (d) Notice to the Initial Purchasers. The Company
will advise the Initial Purchasers promptly, and confirm such advice in writing, (i) of the occurrence of any event which makes any statement of a material fact made in any of the Time of Sale Information or the Final Offering Memorandum (as
then amended or supplemented) untrue or which requires the making of any additions to or changes in any of the Time of Sale Information or the Final Offering Memorandum (as then amended or supplemented) in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading; (ii) of the issuance by any governmental or regulatory authority of any order preventing or suspending the use of any of the Time of Sale Information or the Final
Offering Memorandum or the initiation or, to the best knowledge of the Company, threatening of any proceeding for that purpose; and (iii) of the receipt by the Company of any notice with respect to any suspension of the qualification of the
Securities and Conversion Shares for offer and sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and the Company will use its reasonable best efforts to prevent the issuance of any such order preventing or
suspending the use of any of the Time of Sale Information or the Final Offering Memorandum or suspending any such qualification of the Securities and, if any such order is issued, will obtain as soon as possible the withdrawal thereof. 

(e) Ongoing Compliance of the Time of Sale Information and the Final Offering Memorandum. (1) If at any time prior to the Closing Date or
the Additional Closing Date, as the case may be, (i) any event shall occur or condition shall exist as a result of which any of the Time of Sale Information as then amended or supplemented would include any untrue statement of a material fact
or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading or (ii) it is necessary to amend or supplement any of the Time of Sale
Information to comply with law, the Company will immediately notify the Initial Purchasers thereof and forthwith prepare and, subject to paragraph (b) above, furnish to the Initial Purchasers such amendments or supplements to any of the Time of
Sale Information (or any document to be filed with the Commission and incorporated by reference therein) as may be necessary so that the statements in any of the Time of Sale Information as so amended or supplemented (including, if applicable, such
document to be incorporated by reference therein) will not, in light of the circumstances under which they were made, be misleading or so that the Time of Sale Information will comply with law, and (2) if at any time prior to the completion of
the resale of the Securities by the Initial Purchasers (i) any event shall occur or condition shall exist as a result of which the Final Offering Memorandum as then amended or supplemented would include any untrue 

 
statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances existing
when the Final Offering Memorandum is delivered to a purchaser, not misleading or (ii) it is necessary to amend or supplement the Final Offering Memorandum to comply with law, the Company will immediately notify the Initial Purchasers thereof
and forthwith prepare and, subject to paragraph (b) above, furnish to the Initial Purchasers such amendments or supplements to the Final Offering Memorandum (or any document to be filed with the Commission and incorporated by reference therein)
as may be necessary so that the statements in the Final Offering Memorandum as so amended or supplemented (including, if applicable, such document to be incorporated by reference therein) will not, in the light of the circumstances existing when the
Final Offering Memorandum is delivered to a purchaser, be misleading or so that the Final Offering Memorandum will comply with law. 
 (f)
Blue Sky Compliance. The Company will qualify the Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions as the Initial Purchasers shall reasonably request and will continue such qualifications in effect so
long as required for the offering and resale of the Securities; provided that the Company shall not be required to (i) qualify as a foreign corporation in any such jurisdiction where it would not otherwise be required to so qualify,
(ii) file any general consent to service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not otherwise so subject. 
 (g) Use of Proceeds. The Company will apply the net proceeds from the sale of the Securities as described in each of the Time of Sale Information
and the Final Offering Memorandum under the heading “Use of Proceeds.” 
 (h) Supplying Information. While the Securities or
the Conversion Shares remain outstanding and are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, the Company will, during any period in which the Company is not subject to and in compliance with
Section 13 or 15(d) of the Exchange Act, furnish to holders of the Securities or Conversion Shares and prospective purchasers of the Securities or Conversion Shares designated by such holders, upon the request of such holders or such
prospective purchasers, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 (i) PORTAL and
DTC. The Company will assist the Initial Purchasers in arranging for the Securities to be designated Private Offerings, Resales and Trading through Automated Linkages (“PORTAL”) Market securities in accordance with the rules and
regulations adopted by the National Association of Securities Dealers, Inc. (the “NASD”) relating to trading in the PORTAL Market and for the Securities to be eligible for clearance and settlement through The Depository Trust
Company (“DTC”). 
 (j) Listing. The Company will use its reasonable best efforts to effect and maintain the listing
of any Conversion Shares on the NASDAQ Global Select Market, the NASDAQ Select Market, the New York Stock Exchange (“NYSE”) or another U.S. national securities exchange or established automated over-the-counter trading market in the
United States of America. 

 (k) No Resales by the Company. During the one-year period from the Closing Date, the Company will
not, and will not permit any of its affiliates (as defined in Rule 144 under the Securities Act) to, resell any of the Securities or Conversion Shares that have been acquired by any of them, except for Securities or Conversion Shares purchased
by the Company or any of its affiliates and resold in a transaction registered under the Securities Act. 
 (l) No Integration.
Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) will, directly or through any agent, sell, offer for sale, solicit offers to buy or otherwise negotiate in respect of, any security (as defined in the
Securities Act), that is or will be integrated with the sale of the Securities in a manner that would require registration of the Securities under the Securities Act. 
 (m) No General Solicitation. None of the Company or any of its affiliates or any other person acting on its or their behalf (other than the Initial Purchasers, as to which no covenant is given) will
(i) solicit offers for, or offer or sell, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of
Section 4(2) of the Securities Act; or (ii) offer, sell, contract to sell or otherwise dispose of, directly or indirectly, any securities under circumstances where such offer, sale, contract or disposition would cause the exemption
afforded by Section 4(2) of the Securities Act to cease to be applicable to the offering and sale of the Securities and the Conversion Shares as contemplated by this Agreement, any of the Time of Sale Information and the Final Offering
Memorandum. 
 (n) No Stabilization. Neither the Company, nor to its knowledge, any of its affiliates, will take, directly or
indirectly, any action designed to or that could reasonably be expected to cause or result in any stabilization or manipulation of the price of the Securities or the Common Stock and neither the Company nor any of its affiliates has taken or will
take, directly or indirectly, any action prohibited by Regulation M under the Exchange Act in connection with the offering of the Securities. 
 (o) Clear Market. Except as provided in Section 4(p), during the period from the date hereof through and including the date that is sixty (60) calendar days after the date hereof, the Company will not, without the prior
written consent of the Initial Purchasers, offer, sell, contract to sell or otherwise dispose of any debt securities issued or guaranteed by the Company and having a tenor of more than one year. 
 (p) Lock-Up. For a period of sixty (60) calendar days following the date of this Agreement, not to, directly or indirectly, (1) offer
for sale, sell, pledge or otherwise dispose of (or enter into any transaction or device which is designed to, or could be expected to, result in the disposition by any person at any time in the future of) any shares of Common Stock (including,
without limitation, shares of Common Stock that may be deemed to be beneficially owned by the undersigned in accordance with the rules and regulations of 

 
the Commission and shares of Common Stock that may be issued upon exercise of any option or warrant) or securities convertible into or exchangeable for
Common Stock (other than shares of Common Stock issued pursuant to employee benefit plans, qualified stock option plans or other employee compensation plans existing on the date hereof or pursuant to currently outstanding options, warrants or rights
or shares issued pursuant to registration statements on Form S-4 in connection with acquisition transactions or earn-out obligations under acquisition transactions) or substantially similar securities, or sell or grant options, rights or warrants
with respect to any shares of Common Stock or securities convertible into or exchangeable for Common Stock or substantially similar securities (other than the grant of options pursuant to option plans existing on the date hereof), or (2) enter
into any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of such shares of Common Stock, whether any such transaction described in clause (1) or
(2) above is to be settled by delivery of Common Stock or other securities, in cash or otherwise, (3) make any demand for or exercise any right or file or cause to be filed a registration statement, including any amendments thereto, with
respect to the registration of any shares of Common Stock or securities convertible, exercisable or exchangeable into Common Stock or any other securities of the Company (other than the filing of registration statements in respect of the Securities
and shares of Common Stock issuable upon conversion of the Securities and the filing of registration statements on Form S-8 to register the Common Stock that may be offered under employee benefit plans, qualified stock option plans or other employee
compensation plans in existence on the date hereof) or (4) publicly disclose the intention to do any of the foregoing, in each case without the prior written consent of the Representatives (it being understood the Company may issue Common Stock
issuable upon the conversion of the Securities and the Company may enter into the convertible note hedge and warrant option transactions in connection with the issuance of the Securities as described in each of the Time of Sale Information and the
Final Offering Memorandum); and to cause Jeffrey A. Stoops to furnish to the Initial Purchasers, prior to the Closing Date, a letter substantially in the form of Exhibit A hereof. 
 (q) Conversion Shares. The Company will reserve and keep available at all times, free of preemptive rights, the maximum number of Conversion
Shares. 
 (r) Conversion Price. Between the date hereof and the Closing Date, the Company will not do or authorize any act or thing
that would result in an adjustment of the conversion price or conversion rate of the Securities. 
 (s) No Action. The Company will
not initiate any action prior to the Closing Date which would require any of the Time of Sale Information or the Final Offering Memorandum to be amended or supplemented pursuant to Section 4(e). 
 5. Certain Agreements of the Initial Purchasers. Each Initial Purchaser hereby severally represents and agrees that it has not and will not use,
authorize use of, refer to, or participate in the planning or use of, any written communication that constitutes an offer to sell or the solicitation of an offer to buy the Securities or the Conversion Shares other than (i) the Time of Sale
Information and the Final Offering Memorandum, (ii) a written communication that contains no “issuer information” (as defined in Rule 433(h)(2) under 

 
the Securities Act) that was not included (including through incorporation by reference) in the Time of Sale Information or the Final Offering Memorandum,
(iii) any written communication listed on Annex A or prepared pursuant to Section 4(c) above, (iv) any written communication prepared by the Initial Purchasers and approved by the Company in advance in writing or (v) any written
communication relating to or that contains the terms of the Securities or the Conversion Shares and/or other information that was included or incorporated by reference in the Time of Sale Information or the Final Offering Memorandum. 
 6. Conditions of Initial Purchasers’ Obligations. The obligation of the Initial Purchasers to purchase the Firm Securities on the Closing
Date or the Additional Securities on the Additional Closing Date, as the case may be, as provided herein is subject to the performance by the Company of its covenants and other obligations hereunder and to the following additional conditions:

 (a) Representations and Warranties. The representations and warranties of the Company contained herein shall be true and correct on
the date hereof and on and as of the Closing Date; and the statements of the Company and its officers made in any certificates delivered pursuant to this Agreement shall be true and correct on and as of the Closing Date or the Additional Closing
Date, as the case may be. 
 (b) The Time of Sale Information and Final Offering Memorandum. The Time of Sale Information and the
Final Offering Memorandum (and any amendments or supplements thereto) shall have been printed and copies distributed to the Initial Purchasers as promptly as practicable on or following the date of this Agreement or at such other date and time as to
which the Initial Purchasers may agree. If any event shall have occurred that requires the Company under Section 4(e) to prepare an amendment or supplement to any of the Time of Sale Information and the Final Offering Memorandum, such amendment
or supplement shall have been prepared, the Initial Purchasers shall have been given a reasonable opportunity to comment thereon, and copies thereof shall have been delivered to the Initial Purchasers reasonably in advance of the Closing Date or the
Additional Closing Date, as the case may be. 
 (c) Ongoing Compliance of the Time of Sale Information and Final Offering Memorandum.
The Initial Purchasers shall not have discovered and disclosed to the Company (1) on or prior to the Closing Date that any of the Time of Sale Information contains an untrue statement of fact which, in the opinion of counsel for the Initial
Purchasers, is material or omits to state any fact which, in the opinion of such counsel, is material and is necessary to make the statements therein not misleading and (2) on or prior to the Closing Date that the Final Offering Memorandum (and
any amendments or supplements thereto) contains an untrue statement of fact which, in the opinion of counsel for the Initial Purchasers, is material or omits to state any fact which, in the opinion of such counsel, is material and necessary to make
the statements therein not misleading. 

 (d) Required Corporate Actions. All corporate proceedings and other legal matters incident to the
authorization, form and validity of the Transaction Documents, the Time of Sale Information and the Final Offering Memorandum (and any amendments or supplements thereto), and all other legal matters relating to the Transaction Documents and the
transactions contemplated thereby shall be reasonably satisfactory in all material respects to counsel for the Initial Purchasers, and the Company shall have furnished to such counsel all documents and information that they may reasonably request to
enable them to pass upon such matters. 
 (e) No Downgrade. Subsequent to the execution and delivery of this Agreement (i) no
downgrading shall have occurred in the rating accorded the Company’s debt securities by any “nationally recognized statistical rating organization,” as that term is defined by the Commission for purposes of Rule 436(g)(2) under the
Securities Act and (ii) no such organization shall have publicly announced that it has under surveillance or review, with possible negative implications, its rating of any of the Company’s debt securities. 
 (f) No Material Adverse Change. (i) Neither the Company nor any of its subsidiaries shall have sustained since the date of the latest audited
financial statements included or incorporated by reference in the Time of Sale Information and the Final Offering Memorandum (exclusive of any amendment or supplement thereto) any loss or interference with its business from fire, explosion, flood or
other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Time of Sale Information and the Final Offering Memorandum or
(ii) otherwise than as set forth or contemplated in the Time of Sale Information and the Final Offering Memorandum (exclusive of any amendment or supplement thereto), since such date there shall not have been any change in the capital stock,
except pursuant to the Company’s 1999 Equity Participation Plan, 2001 Equity Participation Plan, the Company’s 1999 Employee Stock Purchase Plan, the Company’s 2008 Employee Stock Purchase Plan, shares of common stock of the Company
issued pursuant to the registration statements on Form S-4 (File Nos. 333-71460, 333-46730, 333-139005 and 333-147473) or long-term debt of the Company or any of its subsidiaries or any change, or any development involving a prospective change, that
would have a Material Adverse Effect, the effect of which, in any such case described in clause (i) or (ii), is, in the judgment of the Representatives, so material and adverse as to make it impracticable or inadvisable to proceed with the
payment for and delivery of the Securities being delivered on the Closing Date or the Additional Closing Date, as the case may be, on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the Final Offering
Memorandum (exclusive of any amendment or supplement thereto). 
 (g) Officers’ Certificates. The Initial Purchasers shall have
received on and as of the Closing Date or the Additional Closing Date, as the case may be, a certificate of the Company’s chief executive officer or president and chief financial officer stating that (i) such officers have carefully
reviewed the Time of Sale Information and the Final Offering Memorandum; (ii) to the best knowledge of such officers, the Time of Sale Information, at the time of sale and at the Closing Date, did not, and the Final Offering 

 
Memorandum, as of its date and at the Closing Date, did not include any untrue statement of a material fact and did not omit to state a material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and since the date of each of the Time of Sale Information and the Final Offering Memorandum, no event has occurred which should
have been set forth in a supplement or amendment to any of the Time of Sale Information and the Final Offering Memorandum so that the Time of Sale Information and the Final Offering Memorandum (as so amended or supplemented) would not include any
untrue statement of a material fact and would not omit to state a material fact necessary to make the statements therein, under the light of the circumstances under which they were made, not misleading; and (iii) as of the Closing Date or the
Additional Closing Date, as the case may be, the representations and warranties of the Company in this Agreement are true and correct, the Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied
hereunder at or prior to the Closing Date or the Additional Closing Date, as the case may be. 
 (h) Comfort Letters. On the date of
this Agreement and on the Closing Date or the Additional Closing Date, as the case may be, Ernst & Young LLP shall have furnished to the Initial Purchasers, at the request of the Company, letters, dated the respective dates of delivery
thereof and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the Initial Purchasers, containing statements and information of the type customarily included in accountants’ “comfort letters” to
underwriters with respect to the financial statements and certain financial information contained or incorporated by reference in each of the Time of Sale Information and the Final Offering Memorandum; provided that the letter delivered on
the Closing Date or the Additional Closing Date, as the case may be, shall use a “cut-off” date no more than three (3) Business Days prior to such Closing Date or such Additional Closing Date, as the case may be. 
 (i) Opinion of Counsel for the Company. Holland & Knight LLP, counsel for the Company, shall have furnished to the Initial Purchasers, at
the request of the Company, their written opinion, dated the Closing Date or the Additional Closing Date, as the case may be, and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the Initial Purchasers, to the
effect set forth in Annex C hereto. 
 (j) Opinion and Statement of Counsel for the Initial Purchasers. The Initial Purchasers shall
have received on and as of the Closing Date an opinion and statement of Davis Polk & Wardwell, counsel for the Initial Purchasers, with respect to such matters as the Initial Purchasers may reasonably request, and such counsel shall have
received such documents and information as they may reasonably request to enable them to pass upon such matters. 
 (k) Opinion of FCC
Counsel for the Company. Wiley Rein LLP, FCC counsel for the Company, shall have furnished to the Initial Purchasers, at the request of the Company, their written opinion, dated the Closing Date or the Additional Closing Date, as the case may
be, and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the Initial Purchasers. 

 (l) No Legal Impediment to Issuance. No action shall have been taken and no statute, rule,
regulation or order shall have been enacted, adopted or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date or the Additional Closing Date, as the case may be, prevent the issuance or sale
of the Securities or the issuance of the Conversion Shares; and no injunction or order of any federal, state or foreign court shall have been issued that would, as of the Closing Date or the Additional Closing Date, as the case may be, prevent the
issuance or sale of the Securities or the issuance of the Conversion Shares. 
 (m) No Rule 144A Invalidation. There shall not have
occurred any invalidation of Rule 144A under the Securities Act by any court or withdrawal or proposed withdrawal of any rule or regulation under the Securities Act or the Exchange Act by the Commission or any amendment or proposed amendment thereof
by the Commission which in the judgment of the Initial Purchasers would materially impair the ability of the Initial Purchasers to purchase, hold or effect resales of the Securities contemplated hereby. 
 (n) Good Standing. The Initial Purchasers shall have received on and as of the Closing Date or the Additional Closing Date, as the case may be,
satisfactory evidence of the good standing of the Company and its subsidiaries listed on Schedule 2 in their respective jurisdictions of incorporation or formation and their good standing as foreign entities in such other jurisdictions as the
Initial Purchasers may reasonably request, in each case in writing or any standard form of telecommunication from the appropriate governmental authorities of such jurisdictions. 
 (o) Indenture and Securities. The Indenture shall have been duly executed and delivered by the Company and the Trustee, and the Securities shall
have been duly executed and delivered by the Company and duly authenticated by the Trustee. 
 (p) Registration Rights Agreement. The
Initial Purchasers shall have received a counterpart of the Registration Rights Agreement that shall have been duly executed and delivered by the Company. 
 (q) PORTAL and DTC. The Securities shall have been approved by the NASD for trading in the PORTAL Market and shall be eligible for clearance and settlement through DTC. 
 (r) Listing. The NASDAQ Global Select Market System shall have approved the Conversion Shares for listing, subject only to official notice of
issuance and evidence of satisfactory distribution. 
 (s) No Default. There shall exist at and as of the Closing Date or the
Additional Closing Date, as the case may be, no conditions that would constitute a default (or an event that with notice or the lapse of time, or both, would constitute a default) under the Mortgage Loan and the Revolving Senior Credit Agreement.

 (t) Market Events. Subsequent to the execution and delivery of this Agreement there shall not have
occurred any of the following: (i) trading in securities generally on the NYSE, the NASDAQ Global Select Market, the NASDAQ Select Market or the American Stock Exchange or in the over-the-counter market, or trading in any securities of the
Company on any exchange or in the over-the-counter market, shall have been suspended or minimum prices shall have been established on any such exchange or such market by the Commission, by such exchange or by any other regulatory body or
governmental authority having jurisdiction, (ii) a material disruption in securities settlement, payment or clearance services in the United States, (iii) a banking moratorium shall have been declared by federal or state authorities,
(iv) any attack on, outbreak or escalation of hostilities or act of terrorism involving the United States, any declaration of war by Congress or any other national or international calamity, crisis or emergency if, in the judgment of the
Representatives, the effect of any such attack, outbreak, escalation, act, declaration, calamity, crisis or emergency makes it impractical or inadvisable to proceed with the completion of the offering or sale of and payment for the Securities, or
(v) the occurrence of any other calamity, crisis (including without limitation as a result of terrorist activities), or material adverse change in general economic, political or financial conditions (or the effect of international conditions on
the financial markets in the United States shall be such) as to make it, in the judgment of the Representatives, impracticable or inadvisable to proceed with the public offering or delivery of the Securities being delivered on the Closing Date or
the Additional Closing Date, as the case may be, on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the Final Offering Memorandum or that, in the judgment of the Representatives, would materially and
adversely affect the financial markets or the markets for the Securities and/or debt securities. 
 (u) Additional Documents. On or
prior to the Closing Date or the Additional Closing Date, as the case may be, the Company shall have furnished to the Initial Purchasers such further certificates and documents as the Initial Purchasers may reasonably request. 
 (v) Lock-up Agreement. The Company shall have furnished to the Initial Purchasers on the date hereof a letter substantially in the form of Exhibit
A hereof from Jeffrey A. Stoops addressed to the Initial Purchasers. 
 (w) Note Hedge and Warrant. The conditions to the
effectiveness of the convertible note hedge and warrant option transactions in connection with the issuance of the Securities, as described in each of the Time of Sale Information and the Final Offering Memorandum, shall have been satisfied.

 All opinions, letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with
the provisions hereof only if they are in form and substance reasonably satisfactory to counsel for the Initial Purchasers. 

 7. Indemnification and Contribution. 
 (a) Indemnification of the Initial Purchasers. The Company agrees to indemnify and hold harmless the Initial Purchasers, their respective
affiliates, directors and officers and each person, if any, who controls the Initial Purchasers within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages
and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are
based upon, any untrue statement or alleged untrue statement of a material fact contained in the Preliminary Offering Memorandum or any of the other Time of Sale Information, any Issuer Written Communication, the Final Offering Memorandum (or any
amendment or supplement thereto), in any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of the offering of the Securities or in any information provided by the Company
pursuant to Section 4(e), any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except
insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any Initial Purchasers’ Information.

 (b) Indemnification of the Company. Each Initial Purchaser, severally and not jointly, agrees to indemnify and hold harmless the
Company, each of its affiliates, directors and officers and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set
forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in
conformity with any Initial Purchasers’ Information. 
 (c) Notice and Procedures. If any suit, action, proceeding (including any
governmental or regulatory investigation), claim or demand shall be brought or asserted against any person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such person (the
“Indemnified Person”) shall promptly notify the person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall
not relieve it from any liability that it may have under this Section 7 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further,
that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under this Section 7. If any such proceeding shall be brought or asserted against an Indemnified
Person and it shall have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the
Indemnifying Person) to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 7 that the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such counsel
related to such proceeding, as incurred. In any such proceeding, any Indemnified 

 
Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless
(i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person;
(iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any such
proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them.
It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local
counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm for the Initial Purchasers, their respective affiliates, directors and officers and any control persons of the
Initial Purchasers shall be designated in writing by the Initial Purchasers and any such separate firm for the Company, its directors and officers and any control persons of the Company shall be designated in writing by the Company. The Indemnifying
Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified
Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested that an Indemnifying Person reimburse the Indemnified Person
for fees and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than thirty
(30) calendar days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement. No
Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnification could have
been sought hereunder by such Indemnified Person, unless such settlement (x) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims
that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. 
 (d) Contribution. If the indemnification provided for in paragraphs (a) and (b) above is unavailable to an Indemnified Person or
insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable
by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Initial Purchasers on the other from
the offering of the Securities 

 
or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause (i) but also the relative fault of the Company on the one hand and the Initial Purchasers on the other in connection with the statements or omissions that resulted in such losses, claims, damages or
liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Initial Purchasers on the other shall be deemed to be in the same respective proportions as the net proceeds
(before deducting expenses) received by the Company from the sale of the Securities and the total discounts and commissions received by the Initial Purchasers in connection therewith, as provided in this Agreement, bear to the aggregate offering
price of the Securities. The relative fault of the Company on the one hand and the Initial Purchasers on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to the Company or information supplied by the Company or Initial Purchasers’ Information supplied by the Initial Purchasers and the parties’ relative intent, knowledge, access
to information and opportunity to correct or prevent such statement or omission. 
 (e) Limitation on Liability. The Company and the
Initial Purchasers agree that it would not be just and equitable if contribution pursuant to this Section 7 were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable
considerations referred to in paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 7, in no event shall the Initial Purchasers be required to
contribute any amount in excess of the amount by which the total discounts and commissions received by the Initial Purchasers with respect to the offering of the Securities exceeds the amount of any damages that the Initial Purchasers have otherwise
been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. 
 (f) Non-Exclusive Remedies. The remedies
provided for in this Section 7 are not exclusive and shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 
 8. Defaulting Initial Purchasers. If, on any Closing Date or Additional Closing Date, as the case may be, any Initial Purchaser defaults in the
performance of its obligations under this Agreement, the remaining non-defaulting Initial Purchasers shall be obligated to purchase the Securities that the defaulting Initial Purchasers agreed but failed to purchase on such Closing Date or
Additional Closing Date, as the case may be, in the respective proportions which the principal amount of the Firm Securities set forth opposite the name of each remaining non-defaulting Initial Purchaser in Schedule 1 hereto bears to the aggregate
principal amount of the Firm 

 
Securities set forth opposite the names of all the remaining non-defaulting Initial Purchasers in Schedule 1 hereto; provided, however, that the
remaining non-defaulting Initial Purchasers shall not be obligated to purchase any of the Securities on such Closing Date or Additional Closing Date, as the case may be, if the aggregate principal amount of the Securities that the defaulting Initial
Purchaser or Initial Purchasers agreed but failed to purchase on such date exceeds 9.09% of the aggregate principal amount of the Securities to be purchased on such Closing Date or Additional Closing Date, as the case may be, and any remaining
non-defaulting Initial Purchaser shall not be obligated to purchase more than 110% of the principal amount of the Securities that it agreed to purchase on such Closing Date or Additional Closing Date, as the case may be, pursuant to the terms of
Section 2. If the foregoing maximums are exceeded, the remaining non-defaulting Initial Purchasers shall have the right, but shall not be obligated, to purchase, in such proportion as may be agreed upon among them, all the Securities to be
purchased on such Closing Date or Additional Closing Date, as the case may be. If the remaining Initial Purchasers do not elect to purchase the principal amount of Securities that the defaulting Initial Purchaser or Initial Purchasers agreed but
failed to purchase on such Closing Date or Additional Closing Date, as the case may be, this Agreement (or, with respect to any Additional Closing Date, the obligation of the Initial Purchasers to purchase the Additional Securities) shall terminate
without liability on the part of any non-defaulting Initial Purchaser or the Company, except that the Company will continue to be liable for the payment of expenses to the extent set forth in Section 10. As used in this Agreement, the term
“Initial Purchaser” includes, for all purposes of this Agreement unless the context requires otherwise, any party not listed in Schedule 1 hereto that, pursuant to this Section 8, purchases Securities that a defaulting Initial
Purchaser agreed but failed to purchase. 
 Nothing contained herein shall relieve a defaulting Initial Purchaser of any liability it may
have to the Company for damages caused by its default. If other Initial Purchasers are obligated or agree to purchase the Securities of a defaulting or withdrawing Initial Purchaser, either the remaining Initial Purchasers or the Company may
postpone the Closing Date or Additional Closing Date, as the case may be, for up to seven (7) full Business Days in order to effect any changes that in the opinion of counsel for the Company or counsel for the Initial Purchasers may be
necessary in the Time of Sale Information, the Final Offering Memorandum or in any other document or arrangement. 
 9. Termination.
The obligations of the Initial Purchasers hereunder may be terminated by the Initial Purchasers, in the absolute discretion of the Initial Purchasers, by notice given to the Company prior to the delivery of and payment for the Securities if, prior
to that time, any of the events described in Section 6(e), 6(f), 6(l), 6(m) and 6(t) shall have occurred. 
 10. Payment of
Expenses. (a) Whether or not the transactions contemplated by this Agreement are consummated or this Agreement is terminated, the Company agrees to pay or cause to be paid all costs and expenses incident to the performance of its
obligations hereunder, including without limitation, (i) the costs incident to the authorization, issuance, sale, preparation and delivery 

 
of the Securities or Conversion Shares and any taxes payable in that connection; (ii) the costs incident to (x) the preparation and printing of the
Preliminary Offering Memorandum, any Issuer Written Communication, any Time of Sale Information and the Final Offering Memorandum (including all exhibits, amendments and supplements thereto) and the distribution thereof and (y) the preparation
and filing under the Securities Act of the Registration Statement; (iii) the costs of reproducing and distributing each of the Transaction Documents; (iv) the fees and expenses of the Company’s counsel and independent accountants;
(v) the fees and expenses incurred in connection with the registration or qualification and determination of eligibility for investment of the Securities or the Conversion Shares under the laws of such jurisdictions as the Initial Purchasers
may designate and the preparation, printing and distribution of a Blue Sky Memorandum (including the related fees and expenses of counsel for the Initial Purchasers not to exceed $15,000); (vi) the cost of preparing stock certificates;
(vii) the costs and charges of any transfer agent and any registrar; (viii) any fees charged by rating agencies for rating the Securities; (ix) the fees and expenses of the Trustee and any paying agent (including related fees and
expenses of any counsel to such parties); (x) all expenses and application fees incurred in connection with the application for the inclusion of the Securities on the PORTAL Market and the approval of the Securities for book-entry transfer by
DTC; (xi) all expenses incurred by the Company in connection with any “road show” presentation to potential investors; and (xii) all expenses and application fees related to the listing of the Conversion Shares on the NASDAQ
Global Select Market, the NASDAQ Select Market, the NYSE or another U.S. national securities exchange or established automated over-the-counter trading market in the United States of America. 
 (b) If (i) this Agreement is terminated pursuant to Section 9 (other than due to the events described in Section 6(l) and 6(m)),
(ii) the Company for any reason fails to tender the Securities for delivery to the Initial Purchasers or (iii) the Initial Purchasers decline to purchase the Securities for any reason permitted under this Agreement, the Company agrees to
reimburse the Initial Purchasers for all out-of-pocket costs and expenses (including the fees and expenses of their counsel) reasonably incurred by the Initial Purchasers in connection with this Agreement and the proposed purchase and resale of the
Securities contemplated hereby. 
 11. Persons Entitled to Benefit of Agreement. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective successors and any controlling persons referred to herein, and the affiliates, officers and directors of the Initial Purchasers referred to in Section 7 hereof. Nothing in this Agreement is
intended or shall be construed to give any other person any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. No purchaser of Securities from the Initial Purchasers shall be deemed to
be a successor merely by reason of such purchase. 
 12. Survival. The respective indemnities, rights of contribution,
representations, warranties and agreements of the Company and the Initial Purchasers contained in this Agreement or made by or on behalf of the Company or the Initial Purchasers pursuant to this Agreement or any certificate delivered pursuant hereto
shall survive the delivery of and payment for the Securities and shall remain in 

 
full force and effect, regardless of any termination of this Agreement or any investigation made by or on behalf of the Company or the Initial Purchasers.

 13. Certain Defined Terms. For purposes of this Agreement, (a) except where otherwise expressly provided, the term
“affiliate” has the meaning set forth in Rule 405 under the Securities Act; (b) the term “Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions in New York, New York are
authorized or required by law or executive order to remain closed; (c) the term “subsidiary” has the meaning set forth in Rule 405 under the Securities Act; and (d) the term “written communication” has the meaning set
forth in Rule 405 under the Securities Act. 
 14. Initial Purchasers’ Information. The parties hereto acknowledge and agree
that, for all purposes of this Agreement, the Initial Purchasers’ Information consists solely of the following information in the Time of Sale Information or the Final Offering Memorandum: the third paragraph, the fifth and sixth sentences of
the ninth paragraph, the eleventh paragraph, the twelfth paragraph, the sixteenth paragraph and the second sentence of the seventeenth paragraph under the heading “Plan of Distribution” in the Final Offering Memorandum. 
 15. Miscellaneous. (a) Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have been
duly given if mailed or transmitted and confirmed by any standard form of telecommunication. Notices to the Initial Purchasers shall be given to the Initial Purchasers c/o Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attention:
Equity Capital Markets – Syndicate Desk, with a copy to Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attention: General Counsel. Notices to the Company shall be given to it at SBA Communications Corporation, 5900 Broken
Sound Parkway NW, Boca Raton, Florida 33487; Attention: Jeffrey A. Stoops (fax: (561) 997-0343) and Attention: Thomas P. Hunt (fax: (561) 989-2941), with a copy to Holland & Knight LLP, 701 Brickell Avenue,, Suite 3100, Miami,
Florida 33131; Attention: Kara L. MacCullough, Esq. (fax: (305) 679-6311). 
 (b) Governing Law. This Agreement shall be governed
by and construed in accordance with the law of the State of New York. 
 (c) Counterparts. This Agreement may be signed in
counterparts (which may include counterparts delivered by any standard form of telecommunication), each of which shall be an original and all of which together shall constitute one and the same instrument. 
 (d) Amendments or Waivers. No amendment or waiver of any provision of this Agreement, nor any consent or approval to any departure therefrom,
shall in any event be effective unless the same shall be in writing and signed by the parties hereto. 

 (e) Headings. The headings herein are included for convenience of reference only and are not
intended to be part of, or to affect the meaning or interpretation of, this Agreement. 

 If the foregoing is in accordance with your understanding, please indicate your acceptance of this
Agreement by signing in the space provided below. 
  

			
	Very truly yours,
	
	SBA COMMUNICATIONS CORPORATION
		
	By:	 	 /s/ Jeffrey A. Stoops

	Name:	 	Jeffrey A. Stoops
	Title:	 	President and CEO

 Accepted: May 12, 2008 
  

			
	DEUTSCHE BANK SECURITIES INC.
		
	By:	 	 /s/ J.L. Malcolm Morris

	Name:	 	J.L. Malcolm Morris
	Title:	 	Managing Director
		
	By:	 	 /s/ Vikram Kaul

	Name:	 	Vikram Kaul
	Title:	 	Director
	
	CITIGROUP GLOBAL MARKETS INC.
		
	By:	 	 /s/ Dyson Dryden

	Name:	 	Dyson Dryden
	Title:	 	Director
	
	LEHMAN BROTHERS INC.
		
	By:	 	 /s/ Gordon Kroft

	Name:	 	Gordon Kroft
	Title:	 	Managing Director

 Each for itself and as a Representative of the other Initial Purchasers. 

 Schedule 1 
 Initial Purchasers 
  

				
	 	  	Principal Amount
	 Initial Purchasers
	  		
	 Deutsche Bank Securities Inc.
	  	$	125,000,000
	 Citigroup Global Markets Inc.
	  	 	100,000,000
	 Lehman Brothers Inc.
	  	 	100,000,000
	 J.P. Morgan Securities Inc.
	  	 	75,000,000
	 Wachovia Capital Markets, LLC.
	  	 	75,000,000
	 Greenwich Capital Markets, Inc.
	  	 	12,500,000
	 TD Securities (USA) LLC
	  	 	12,500,000
	 Total
	  	$	500,000,000
		  	 	 

  

 i 

 Schedule 2 
 Subsidiaries Providing Good Standing Certificates 
 SBA CMBS-1 Holdings LLC 
 SBA CMBS-1 Guarantor LLC 
 SBA Telecommunications, Inc. 
 SBA Senior Finance, Inc. 
 SBA Senior Finance II LLC 
 SBA Properties, Inc. 
 SBA Towers, Inc. 
 SBA Towers II, LLC 
 SBA Structures, Inc. 
 SBA CMBS-1 Depositor LLC 

 Annex A 
 Additional Time of Sale Information 
  

	1.	List each document provided as an amendment or supplement to the Preliminary Offering Memorandum. 

  

	2.	Term sheet containing the terms of the securities, substantially in the form of Annex B. 

  

 A-1 

 Exhibit A 
 FORM OF LOCK-UP AGREEMENT 
                     , 2008 
 Deutsche Bank
Securities Inc. 
 Citigroup Global Markets Inc., 
 Lehman
Brothers Inc., 
 As Representatives of the several 
     Initial Purchasers listed on 
     Schedule 1 hereto 
 c/o Deutsche Bank Securities Inc. 
 60 Wall Street 
 New York, NY 10005 
  

	 	Re:	SBA Communications Corporation 

 Ladies and Gentlemen: 
 The undersigned understands that you and certain other firms (the “Initial Purchasers”) propose to enter into a Purchase Agreement (the
“Purchase Agreement”) providing for the offering (the “Offering”) by the Initial Purchasers of $500,000,000 aggregate principal amount of Convertible Senior Notes due 2013 (the “Securities”)
($550,000,000 aggregate principal amount if the Initial Purchasers exercise the over-allotment option in full), of SBA Communications Corporation, a Florida corporation (the “Company”). Capitalized terms used herein and not
otherwise defined shall have the meanings set forth in the Purchase Agreement. 
 In consideration of the execution of the Purchase Agreement
by the Initial Purchasers, and for other good and valuable consideration, the undersigned hereby irrevocably agrees that, without the prior written consent of the Representatives, on behalf of the Initial Purchasers, the undersigned will not,
directly or indirectly, (1) offer for sale, sell, pledge (other than pledges existing on the date hereof), or otherwise dispose of (or enter into any transaction or device which is designed to, or could be expected to, result in the disposition
by any person at any time in the future of) any shares of Class A Common Stock, par value $0.01 per share (the “Common Stock”), of the Company, (including, without limitation, shares of Common Stock that may be deemed to be
beneficially owned by the undersigned in accordance with the rules and regulations of the Commission and shares of Common Stock that may be issued upon exercise of any options or warrants) or securities convertible into or exercisable or
exchangeable for Common Stock (other than conversions, exercises or exchanges of securities convertible into or exercisable or exchangeable for shares of Common 

 
Stock issued pursuant to employee benefit plans, qualified stock option plans or other employee compensation plans existing on the date hereof or pursuant to
currently outstanding options, warrants or rights) or substantially similar securities owned by the undersigned on the date of execution of this Lock-Up Agreement or on the date of the completion of the Offering, or sell or grant options, rights or
warrants with respect to any shares of Common Stock or securities convertible into or exchangeable for Common Stock or substantially similar securities (other than the grant of options pursuant to employee benefit plans existing on the date hereof),
(2) enter into any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of shares of Common Stock, whether any such transaction described in clause (1) or
(2) above is to be settled by delivery of Common Stock or other securities, in cash or otherwise, (3) make any demand for or exercise any right or cause to be filed a registration statement, including any amendments thereto, with respect
to the registration of any shares of Common Stock or securities convertible into or exercisable or exchangeable for Common Stock or any other securities of the Company or (4) publicly disclose the intention to do any of the foregoing, for a
period commencing on the date hereof and ending on the sixtieth (60th) day after the date of the Final Offering Memorandum relating to the
Offering (such sixty (60)-day period, the “Lock-Up Period”). 
 In furtherance of the foregoing, the Company and its
transfer agent are hereby authorized to decline to make any transfer of securities if such transfer would constitute a violation or breach of this Lock-Up Agreement. 
 It is understood that, if the Company notifies the Initial Purchasers that it does not intend to proceed with the Offering, if the Purchase Agreement does not become effective, or if the Purchase Agreement (other than
the provisions thereof which survive termination) shall terminate or be terminated prior to payment for and delivery of the Securities, the undersigned will be released from its obligations under this Lock-Up Agreement. 
 The undersigned understands that the Company and the Initial Purchasers will proceed with the Offering in reliance on this Lock-Up Agreement. 

Whether or not the Offering actually occurs depends on a number of factors, including market conditions. Any Offering will only be made pursuant to
the Purchase Agreement, the terms of which are subject to negotiation between the Company and the Initial Purchasers. 
 [Signature page
follows] 

 The undersigned hereby represents and warrants that the undersigned has full power and authority to enter
into this Lock-Up Agreement and that, upon request, the undersigned will execute any additional documents necessary in connection with the enforcement hereof. Any obligations of the undersigned shall be binding upon the heirs, personal
representatives, successors and assigns of the undersigned. 
  

			
	Very truly yours,
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated:2008 Stock Incentive Plan

 Exhibit 10.1 
 BILL BARRETT CORPORATION 
 2008 STOCK INCENTIVE PLAN 
 1. Purpose. The purpose of the Bill Barrett Corporation 2008 Stock Incentive Plan (the “Plan”) is to enhance the ability of Bill Barrett
Corporation (the “Company”) and its Subsidiaries to attract and retain officers, employees, directors and consultants of outstanding ability and to provide selected officers, employees, directors and consultants with an interest in the
Company parallel to that of the Company’s stockholders to align the interests of those Participants with the Company’s stockholders, providing Participants with a strong incentive to put forth the maximum effort for the continued success
and growth of the Company. The term “Company” as used in this Plan with reference to employment or service shall include the Company and its Subsidiaries, as appropriate. 
 2. Definitions. 
 (a)
“Agreement” means any written or electronic agreement, instrument or document evidencing the grant of an Award in such form as has been approved by the Committee, including all amendments thereto. 
 (b) “Award” shall mean an award determined in accordance with the terms of the Plan. 
 (c) “Board” shall mean the Board of Directors of the Company. 
 (d) “Cause” shall mean (i) if a Participant is party to an employment agreement or similar agreement with the Company and
such agreement includes a definition of Cause, the definition contained therein or (ii) if no such employment or similar agreement exists, it shall mean (A) the Participant’s failure to perform the duties reasonably assigned to him or
her by the Company, (B) a good faith finding by the Company of the Participant’s dishonesty, gross negligence or misconduct, (C) a material breach by the Participant of any written Company employment policies or rules or (D) the
Participant’s conviction for, or his or her plea of guilty or nolo contendere to, a felony or for any other crime which involves fraud, dishonesty or moral turpitude. 
 (e) “Change in Control” of the Company means the occurrence of one of the following events: 
 (i) An acquisition (other than directly from the Company) of any voting securities of the Company (the “Voting Securities”) by
any “Person” (as the term person is used for purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) immediately after which such Person has “Beneficial
Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of the combined voting power of the Company’s then outstanding Voting Securities; provided, however, that in determining whether
a Change in Control has occurred, Voting Securities which are acquired in a “Non-Control Acquisition” (as hereinafter defined) shall not constitute an acquisition which would cause a Change in Control. A “Non-Control Acquisition”
shall mean an acquisition by (1) an employee benefit plan (or a trust forming a part thereof) maintained by (x) the Company or (y) any corporation or other Person of which a majority of its voting power or its equity securities or
equity interest is owned directly or indirectly by the Company (a “Subsidiary”), (2) the Company or any Subsidiary, or (3) any Person in connection with a “Non-Control Transaction” as defined in paragraph
(c) below; 
 (ii) The individuals who are members of the Board (the “Incumbent Board”) cease for any reason to
constitute at least two-thirds of the Board; provided, however, that if the election, or nomination for election by the Company’s stockholders, of any new director was approved by a vote of at least two-thirds of the then
Incumbent Board, such new director shall, for purposes of this Plan, be considered as a member of the Incumbent Board; provided, further, however, that no individual shall be considered a member of the Incumbent Board if such
individual initially assumed office as a result of either an actual or threatened “Election Contest” (defined as any solicitation subject to Rules 14a-1 to 14a-10 promulgated under the Exchange Act by any person or group of persons for the
purpose of opposing a solicitation subject to Rules 14a-1 to 14a-10 by any other person or group of persons with 

  

 1 

 
respect to the election or removal of directors at any annual or special meeting of stockholders of the Company) or other actual or threatened solicitation
of proxies or consents by or on behalf of a Person other than the Board (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest; or 
 (iii) Consummation of: 
 (1) A merger, consolidation or reorganization involving the Company, unless 
 (a) the
stockholders of the Company, immediately before such merger, consolidation or reorganization, own, directly or indirectly, immediately following such merger, consolidation or reorganization, a majority of the combined voting power of the outstanding
Voting Securities of the corporation resulting from such merger or consolidation or reorganization (the “Surviving Corporation”) or a corporation beneficially owning, directly or indirectly, a majority of the Voting Securities of the
Surviving Corporation (a “Parent Corporation”) in substantially the same proportion as their ownership of the Voting Securities immediately before such merger, consolidation or reorganization, and 
 (b) the individuals who were members of the Incumbent Board immediately prior to the execution of the agreement providing for such
merger, consolidation or reorganization constitute a majority of the members of the board of directors of either the Surviving Corporation or a Parent Corporation, and 
 (c) no Person (other than the Company, any Subsidiary, any employee benefit plan (or any trust forming a part thereof) maintained by the
Company, the Surviving Corporation or any Subsidiary, or any Person who, immediately prior to such merger, consolidation or reorganization had Beneficial Ownership of 30% or more of the then outstanding Voting Securities) owns, directly or
indirectly, 30% or more of the combined voting power of the Surviving Corporation’s then outstanding voting securities (unless there is a Parent Corporation, in which event of the Parent Corporation’s then outstanding voting securities),
and 
 (d) a transaction described in the immediately preceding clauses (i) through (iii) shall herein be referred
to as a “Non-Control Transaction”; 
 (2) A complete liquidation or dissolution of the Company; or 
 (3) The sale or other disposition of all or substantially all of the assets of the Company to any Person (other than a transfer to a
Subsidiary). 
 (iv) Notwithstanding subclauses (i), (ii) or (iii) above, a Change in Control shall not be deemed to
occur solely because any Person (the “Subject Person”) acquired Beneficial Ownership of more than the permitted amount of the outstanding Voting Securities as a result of the acquisition of Voting Securities by the Company which, by
reducing the number of Voting Securities outstanding, increases the proportionate number of shares Beneficially Owned by the Subject Person, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the
acquisition of Voting Securities by the Company, and after such share acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional Voting Securities which increases the percentage of the then outstanding Voting
Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur. 
 In all cases, if the Participant is an employee
of the Company and the Participant’s employment is terminated within 30 days prior to a Change in Control and the Participant reasonably demonstrates that such termination (1) was at the request of a third party who has indicated an
intention or taken steps reasonably calculated to effect a Change in Control and who effectuates a Change in Control (a “Third Party”), or (2) otherwise occurred in connection with, or in anticipation of, a Change in Control which
actually occurs, then 

  

 2 

 
the date of a Change in Control with respect to such Participant shall mean the date immediately prior to the date of such termination of such
Participant’s employment. 
 (f) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(g) “Committee” shall mean a committee of at least two members of the Board appointed by the Board to administer the Plan and
to perform the functions set forth herein and who are “non-employee directors” within the meaning of Rule 16b-3 as promulgated under Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and who
are also “outside directors” within the meaning of Section 162(m) of the Code. 
 (h) “Common Stock”
shall mean the common stock of the Company. 
 (i) “Company” means Bill Barrett Corporation, a Delaware corporation,
or any successor to all or substantially all of its businesses by merger, consolidation, purchase of assets or otherwise. 
 (j) “Continuous Service” means that the Participant’s service as an employee, director or consultant with the Company or a Subsidiary which is not interrupted or terminated. The Participant’s Continuous Service shall not
be deemed to have terminated merely because of a change in the capacity in which the Participant renders service to the Company or a Subsidiary as an employee, director or consultant or a change in the entity for which the Participant renders such
service; provided, that, there is no interruption or termination of the Participant’s Continuous Service other than an approved leave of absence. The Committee, in its sole discretion, may determine whether Continuous Service
shall be considered interrupted. 
 (k) “Covered Employee” shall have the meaning set forth in
Section 162(m)(3) of the Code. 
 (l) “Disability” shall have the same meaning as provided in any long-term
disability plan maintained by the Company or any Subsidiary in which a Participant then participates (the “LTD Plans”); provided, that, if no such plan exists, it shall mean the failure of any Participant to perform his
duties due to physical or mental incapacity, as determined by the Committee. 
 (m) “Fair Market Value” shall mean,
as of any date, the value of the Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established
stock exchange or a national market system, including without limitation the New York Stock Exchange, its Fair Market Value will be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or
system for the date of determination, or, if no sale of the Common Stock occurred on that date, on the trading date before the date on which a sale of shares of Common Stock occurred, as reported in The Wall Street Journal or such other
source as the Committee deems reliable; 
 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but
selling prices are not reported, its Fair Market Value will be the arithmetic mean of the high and low prices for the Common Stock on the date of determination, or, if no such high and low prices are available on that date, the trading date before
the date on which such prices are available, as reported in The Wall Street Journal or such other source as the Committee deems reliable; or 
 If the
Common Stock is not listed on any established stock exchange or a national market system, the value determined by the reasonable application of any reasonable valuation method within the meaning of Treasury Regulation
Section 1.409A-1(b)(5)(iv)(B), including but not limited to valuation determined by independent appraisal as of a date that is no more than twelve (12) months before the date of the relevant transaction. 
 (n) “Immediate Family Member” shall mean, except as otherwise determined by the Committee, a Participant’s spouse,
ancestors and descendants. 
 (o) “Incentive Stock Option” shall mean a stock option which is intended to meet the
requirements of Section 422 of the Code. 
  

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 (p) “Nonqualified Stock Option” shall mean a stock option which is not intended
to be an Incentive Stock Option. 
 (q) “Option” shall mean either an Incentive Stock Option or a Nonqualified Stock
Option. 
 (r) “Participant” shall mean an officer, employee, director or consultant of the Company or its
Subsidiaries who is selected to participate in the Plan in accordance with Section 5. 
 (s) “Performance
Goals” shall mean or may be expressed in terms of any of the following business criteria: revenue, earnings before interest, taxes, depreciation and amortization (“EBITDA”), funds from operations, funds from operations per share,
operating income, pre or after tax income, production levels, reserve levels and/or additions, cash available for distribution, cash available for distribution per share, net earnings, earnings per share, return on equity, return on assets, share
price performance, improvements in the Company’s attainment of expense levels, and implementing or completion of critical projects, or improvement in cash-flow (before or after tax). A Performance Goal may be measured over a Performance Period
on a periodic, annual, cumulative or average basis and may be established on a corporate-wide basis or established with respect to one or more operating units, divisions, subsidiaries, acquired businesses, minority investments, partnerships or joint
ventures. Unless otherwise determined by the Committee by no later than the earlier of the date that is 90 days after the commencement of the Performance Period or the day prior to the date on which 25% of the Performance Period has elapsed, the
Performance Goals will be determined by not accounting for a change in GAAP during a Performance Period. 
 (t)
“Performance Objective” shall mean the level or levels of performance required to be attained with respect to specified Performance Goals in order that a Participant shall become entitled to specified rights in connection with an Award of
performance shares. 
 (u) “Performance Period” shall mean the calendar year, or such other shorter or longer period
designated by the Committee, during which performance will be measured in order to determine a Participant’s entitlement to receive payment of an Award. 
 (v) “Subsidiary” shall mean any entity that controls, is controlled by or is under common control with the Company as may be
determined by the Board; provided, that, with respect to Incentive Stock Options, it shall mean any subsidiary of the Company that is a corporation and which at the time qualifies as a “subsidiary corporation” within the
meaning of Section 424(f) of the Code. 
 3. Shares Subject to the Plan. Subject to adjustment in accordance with
Section 18, the total of the number of shares of Common Stock which shall be available for the grant of Awards under the Plan shall not exceed 3,000,000 shares of Common Stock, of which not more than 1,000,000 shares may be the subject of
Awards other than Options and stock appreciation rights; provided, that, for purposes of this limitation, any Common Stock subject to an Option which is canceled or expires without exercise shall again become available for Award under
the Plan. Upon forfeiture of Awards in accordance with the provisions of the Plan and the terms and conditions of the Award, such shares shall again be available for subsequent Awards under the Plan. Subject to adjustment in accordance with
Section 18, no employee shall be granted, during any one (1) year period, Options to purchase more than 500,000 shares of Common Stock, and the number of shares of Common Stock subject to any Awards other than Options or stock appreciation
rights shall not exceed 500,000 shares of Common Stock. Common Stock available for issue or distribution under the Plan shall be authorized and unissued shares or shares reacquired by the Company in any manner. 
 4. Administration. 
 (a) The Plan shall be administered by the Committee. All references to the Committee hereinafter shall mean the Board if no such Committee has been appointed. Notwithstanding the foregoing, the Board or Committee may (i) delegate to a
committee of one or more members of the Board who are not “outside directors” within the meaning of Section 162(m) of the Code the authority to grant Awards to eligible persons who are either (A) not then Covered Employees and
are not expected to be Covered Employees at 

  

 4 

 
the time of recognition of income resulting from such Award or (B) not persons with respect to whom the Company wishes to comply with
Section 162(m) of the Code or (ii) delegate to a committee of one or more members of the Board who are not “non-employee directors” within the meaning of Rule 16b-3 the authority to grant Awards to eligible persons who are not
subject to Section 16 of the Exchange Act. 
 (b) The Committee shall (i) approve the selection of Participants,
(ii) determine the type of Awards to be made to Participants, (iii) determine the number of shares of Common Stock subject to Awards, (iv) determine the terms and conditions of any Award granted hereunder (including, but not limited
to, any restriction and forfeiture conditions on such Award) and (v) have the authority to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Plan, to determine the terms and provisions of any
agreements entered into hereunder, and to make all other determinations necessary or advisable for the administration of the Plan. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award
in the manner and to the extent it shall deem desirable to carry it into effect. 
 (c) Any action of the Committee shall be
final, conclusive and binding on all persons, including the Company and its Subsidiaries and stockholders, Participants and persons claiming rights from or through a Participant. 
 (d) The Committee may delegate to officers or employees of the Company or any Subsidiary, and to service providers, the authority, subject
to such terms as the Committee shall determine, to perform administrative functions with respect to the Plan and Award agreements. 
 (e) Members of the Committee and any officer or employee of the Company or any Subsidiary acting at the direction of, or on behalf of, the Committee shall not be personally liable for any action or determination taken or made in good faith
with respect to the Plan, and shall, to the extent permitted by law, be fully indemnified by the Company with respect to any such action or determination. 
 5. Eligibility. Individuals eligible to receive Awards under the Plan shall be the officers, employees, directors and consultants of the Company and its Subsidiaries selected by the Committee; provided,
that, only employees of the Company and its Subsidiaries may be granted Incentive Stock Options. 
 6. Awards. Awards under the
Plan may consist of Options, restricted Common Stock, performance shares, purchases, share awards, stock appreciation rights or other awards based on the value of the Common Stock. Incentive Stock Options may only be granted to employees of the
Company and its Subsidiaries. Awards shall be subject to the terms and conditions of the Plan and shall be evidenced by an agreement containing such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee
shall deem desirable. 
 7. Options. Options may be granted under the Plan in such form as the Committee may from time to time approve
pursuant to terms set forth in an Option agreement. 
 (a) Types of Options. Each Option agreement shall state whether
or not the Option will be treated as an Incentive Stock Option or Nonqualified Stock Option. The aggregate Fair Market Value of the Common Stock for which Incentive Stock Options granted to any one employee under this Plan or any other incentive
stock option plan of the Company or of any of its Subsidiaries may by their terms first become exercisable during any calendar year shall not exceed $100,000, determining Fair Market Value as of the date each respective Option is granted. In the
event such threshold is exceeded in any calendar year, such excess Options shall be automatically deemed to be Nonqualified Stock Options. To the extent that any Option granted under this Plan which is intended to be an Incentive Stock Option fails
for any reason to qualify as such at any time, such Option shall be a Nonqualified Stock Option. 
 (b) Option Price.
The purchase price per share of the Common Stock purchasable under an Option shall be determined by the Committee; provided, however, the exercise price for Options will never be less than 100% of the Fair Market Value of the Common
Stock on the date of the grant and in the case of Incentive Stock Options granted to an employee owning stock possessing more than 10% of the total 

  

 5 

 
combined voting power of all classes of shares of the Company and its Subsidiaries (a “10% Stockholder”) the price per share specified in the
agreement relating to such Option shall not be less than 110% of the Fair Market Value per share of the Common Stock on the date of grant. The Company specifically reserves the right under this Plan to directly or indirectly reprice Options granted
hereunder by reducing the exercise price of any such Option or awarding substitute Options with a lower exercise price under such terms as it may determine to be appropriate. 
 (c) Option Period. The term of each Option shall be fixed by the Committee, but no Option shall be exercisable after the expiration
of ten (10) years from the date the Option is granted; provided, that, in the case of Incentive Stock Options granted to 10% Stockholders, the term of such Option shall not exceed five (5) years from the date of grant.

 (d) Exercisability. Each Option shall vest and become exercisable at a rate determined by the Committee on the date
of grant. The transfer or exercise of a Nonqualified Stock Option shall be taxable under Code Section 83 and Treasury Regulation Section 1.83-7. 
 (e) Method of Exercise. Options may be exercised, in whole or in part, by giving written notice of exercise to the Company in a form approved by the Company specifying the number shares of Common Stock to be
purchased. Such notice shall be accompanied by the payment in full of the Option exercise price. The exercise price of the Option may be paid by (i) cash or certified or bank check, (ii) surrender of Common Stock held by the Optionee for
at least six (6) months prior to exercise (or such longer or shorter period as may be required to avoid a charge to earnings for financial accounting purposes) or the attestation of ownership of such shares, in either case, if so permitted by
the Company, where such Common Stock has a Fair Market Value equal to the aggregate exercise price of the Option at the time of exercise, (iii) if established by the Company, through a “same day sale” commitment from optionee and a
broker-dealer that is acceptable to the Company that is a member of the Financial Industry Regulatory Authority (a “FINRA Dealer”) whereby the optionee irrevocably elects to exercise the Option and to sell a portion of the shares so
purchased sufficient to pay for the total exercise price and whereby the FINRA Dealer irrevocably commits upon receipt of such shares to forward the total exercise price directly to the Company, (iv) through additional methods prescribed by the
Committee, all under such terms and conditions as deemed appropriate by the Committee in its discretion, or (v) by any combination of the foregoing, and, in all instances, to the extent permitted by applicable law. A Participant’s
subsequent transfer or disposition of any Common Stock acquired upon exercise of an Option shall be subject to any Federal and state laws then applicable, specifically securities law, and the terms and conditions of this Plan. 
 8. Restricted Common Stock. The Committee may from time to time award restricted Common Stock under the Plan to eligible Participants. Shares of
restricted Common Stock may not be sold, assigned, transferred or otherwise disposed of, or pledged or hypothecated as collateral for a loan or as security for the performance of any obligation or for any other purpose, for such period (the
“Restricted Period”) as the Committee shall determine. The Committee may define the Restricted Period in terms of the passage of time or in any other manner it deems appropriate. The Committee may alter or waive at any time any term or
condition of restricted Common Stock that is not mandatory under the Plan. Unless otherwise determined by the Committee, upon termination of a Participant’s Continuous Service with the Company for any reason prior to the end of the Restricted
Period, the restricted Common Stock shall be forfeited and the Participant shall have no right with respect to the Award. Except as restricted under the terms of the Plan and any Award agreement, any Participant awarded restricted Common Stock shall
have all the rights of a stockholder including, without limitation, the right to vote restricted Common Stock. If a share certificate is issued in respect of restricted Common Stock, the certificate shall be registered in the name of the
Participant, but shall be held by the Company for the account of the Participant until the end of the Restricted Period. 
 9. Performance
Shares. 
 (a) Type of Awards. Performance shares may be granted in the form of actual shares of Common Stock. In
the event that a share certificate is issued in respect of performance shares, such certificate shall be 

  

 6 

 
registered in the name of the Participant, but shall be held by the Company until the time the performance shares are earned. The Performance Objectives and
the length of the Performance Period shall be determined by the Committee. 
 (b) Performance Objectives. The Committee
shall establish the Performance Objective for each Award of performance shares, consisting of one or more business criteria permitted as Performance Goals hereunder, one or more levels of performance with respect to each such criteria, and the
amount or amounts payable or other rights that the Participant will be entitled to upon achievement of such levels of performance. The Performance Objective shall be established by the Committee prior to, or reasonably promptly following the
inception of, a Performance Period but, to the extent required by Section 162(m) of the Code, by no later than the earlier of the date that is ninety (90) days after the commencement of the Performance Period or the day prior to the date
on which twenty-five percent (25%) of the Performance Period has elapsed. More than one Performance Goal may be incorporated in a Performance Objective, in which case achievement with respect to each Performance Goal may be assessed
individually or in combination with each other. The Committee may, in connection with the establishment of Performance Objectives for a Performance Period, establish a matrix setting forth the relationship between performance on two or more
Performance Goals and the amount of the Award of performance shares payable for that Performance Period. The level or levels of performance specified with respect to a Performance Goal may be established in absolute terms, as objectives relative to
performance in prior periods, as an objective compared to the performance of one or more comparable companies or an index covering multiple companies, or otherwise as the Committee may determine. Performance Objectives shall be objective and shall
otherwise meet the requirements of Section 162(m) of the Code. Performance Objectives may differ for performance shares granted to any one Participant or to different Participants. An Award of performance shares to a Participant who is a
Covered Employee shall (unless the Committee determines otherwise) provide that in the event of the Participant’s termination of Continuous Service prior to the end of the Performance Period for any reason, such Award will be payable only
(i) if the applicable Performance Objectives are achieved and (ii) the Participant’s Continuous Service continues through the last day of the Performance period. 
 (c) Certification. Following the completion of each Performance Period, the
Committee shall certify in writing, in accordance with the requirements of Section 162(m) of the Code, whether the Performance Objectives and other material terms of an Award of performance shares have been achieved or met. Unless the Committee
determines otherwise, performance shares shall not be settled until the Committee has made the certification specified under this Section 9(c). However, in no event shall performance shares with respect to a specified Performance Period be
settled later than March 15th of the year following the calendar year in which such specified Performance Period ends. 
 (d) Adjustment. The Committee may, in its discretion, reduce or eliminate the amount of payment with respect to an Award of
performance shares to a Covered Employee, notwithstanding the achievement of a specified Performance Objectives; provided, that, no such adjustment shall be made which would adversely impact a Participant following a Change in Control.

 (e) Maximum Amount Payable. Subject to Section 18, the maximum number of performance shares subject to any
Award to a Covered Employee is 500,000 for each 12 months during the Performance Period (or, to the extent the Award is paid in cash, the maximum dollar amount of any such Award is the equivalent cash value, based on the Fair Market Value of the
Common Stock, of such number of shares of Common Stock on the last day of the Performance Period). 
 10. Share Purchases. The
Committee may authorize eligible individuals to purchase Common Stock in the Company at a price equal to or above the Fair Market Value of the Common Stock at the time of grant. Any such offer may be subject to the conditions and terms the Committee
may impose. 
 11. Stock Appreciation Rights. The Committee may in its discretion, either alone or in connection with the grant of
another Award, grant stock appreciation rights in accordance with the Plan, the terms and conditions of 

  

 7 

 
which shall be set forth in an agreement. If granted in connection with an Option, a stock appreciation right shall cover the same number of shares of Common
Stock covered by the Option (or such lesser number of shares as the Committee may determine) and shall, except as provided in this Section 11, be subject to the same terms and conditions as the related Option. Compensation payable under a stock
appreciation right shall not be greater than the excess of the Fair Market Value of the stock (or Option) on the date of exercise over the Fair Market Value of the Common Stock (or Option) on the date of grant. Furthermore, the exercise price of
such stock appreciation right may never be less than the Fair Market Value of the underlying Common Stock (disregarding lapse restrictions as defined in Treasury Regulation Section 1.83-3(i)) on the date of grant. 
 (a) Time of Grant. A stock appreciation right may be granted (i) at any time if unrelated to an Option, or (ii) if
related to an Option, either at the time of grant, or in the case of Nonqualified Stock Options, at any time thereafter during the term of such Option. 
 (b) Stock Appreciation Right Related to an Option. 
 (i) A stock appreciation right
granted in connection with an Option shall be exercisable at such time or times and only to the extent that the related Options are exercisable, and will not be transferable except to the extent the related Option may be transferable. A stock
appreciation right granted in connection with an Incentive Stock Option shall be exercisable only if the Fair Market Value of a share of Common Stock on the date of exercise exceeds the purchase price specified in the related Incentive Stock Option
agreement. 
 (ii) Upon the exercise of a stock appreciation right related to an Option, the Participant shall be entitled to
receive an amount determined by multiplying (A) the excess of the Fair Market Value of a share of Common Stock on the date preceding the date of exercise of such stock appreciation right over the per share purchase price under the related
Option, by (B) the number of shares of Common Stock as to which such stock appreciation right is being exercised. Notwithstanding the foregoing, the Committee may limit in any manner the amount payable with respect to any stock appreciation
right by including such a limit in the agreement evidencing the stock appreciation right at the time it is granted. 
 (iii)
Upon the exercise of a stock appreciation right granted in connection with an Option, the Option shall be canceled to the extent of the number of shares as to which the stock appreciation right is exercised, and upon the exercise of an Option
granted in connection with a stock appreciation right, the stock appreciation right shall be canceled to the extent of the number of shares of Common Stock as to which the Option is exercised or surrendered. 
 (c) Stock Appreciation Right Unrelated to an Option. The Committee may grant to a Participant stock appreciation rights unrelated
to Options. Stock appreciation rights unrelated to Options shall contain such terms and conditions as to exercisability, vesting and duration as the Committee shall determine, but in no event shall they have a term of greater than ten
(10) years. Upon exercise of a stock appreciation right unrelated to an Option, the Participant shall be entitled to receive an amount determined by multiplying (i) the excess of the Fair Market Value of a share on the date preceding the
date of exercise of such stock appreciation right over the per share exercise price of the stock appreciation right, by (ii) number of shares of Common Stock as to which the stock appreciation right is being exercised. Notwithstanding the
foregoing, the Committee may limit in any manner the amount payable with respect to any stock appreciation right by including such a limit in the agreement evidencing the stock appreciation right at the time it is granted. 
 (d) Method of Exercise. Stock appreciation rights shall be exercised by a Participant only by a written notice delivered in person
or by mail to the Company at the Company’s principal executive office, specifying the number of shares of Common Stock with respect to which the stock appreciation right is being exercised. If requested by the Committee, the Participant shall
deliver the agreement evidencing the stock appreciation right being exercised and the agreement evidencing any related Option to the Company who shall endorse thereon a notation of such exercise and return such agreement to the Participant.

  

 8 

 (e) Form of Payment. Payment of the amount determined under this Section 11
may be made in the discretion of the Committee solely in whole shares of Common Stock in a number determined at their Fair Market Value on the date preceding the date of exercise of the stock appreciation right, or solely in cash, or in a
combination of cash and shares. If the Committee decides to make full payment in shares in Common Stock and the amount payable results in a fractional share, payment for the fractional share will be made in cash. 
 12. Share Awards. Subject to such performance and employment conditions as the Committee may determine, awards of Common Stock or awards based on
the value of the Common Stock may be granted either alone or in addition to other Awards granted under the Plan. Any Awards under this Section 12 and any Common Stock covered by any such Award may be forfeited to the extent so provided in the
Award agreement, as determined by the Committee. Payment of Common Stock awards made under this Section 12 which are based on the value of Common Stock may be made in Common Stock or in cash or in a combination thereof (based upon the Fair
Market Value of the Common Stock on the date of payment), all as determined by the Committee in its sole discretion. 
 13. Special
Provisions. 
 (a) Change in Control. Unless otherwise provided in an Award agreement, upon the occurrence of a
Change in Control, all Options and stock appreciation rights shall automatically become vested and exercisable in full and all restrictions or performance conditions, if any, on any Common Stock awards, restricted Common Stock, or performance shares
granted hereunder shall automatically lapse. The Committee may, in its discretion, include such further provisions and limitations in any agreement documenting such Awards as it may deem equitable and in the best interests of the Company.

 (b) Forfeiture. Notwithstanding anything in the Plan to the contrary and unless otherwise specifically provided in
an Award agreement, in the event of a serious breach of conduct by a Participant or former Participant (including, without limitation, any conduct prejudicial to or in conflict with the Company or its Subsidiary) the Committee may (i) cancel
any outstanding Award granted to such Participant or former Participant, in whole or in part, whether or not vested, and/or (ii) if such conduct or activity occurs within one year following the exercise or payment of an Award, require such
Participant or former Participant to repay to the Company any gain realized or payment received upon the exercise or payment of such Award (with such gain or payment valued as of the date of exercise or payment). Such cancellation or repayment
obligation shall be effective as of the date specified by the Committee. Any repayment obligation shall be satisfied in cash or, if permitted in the sole discretion of the Committee, it may be satisfied in shares of Common Stock (based upon the Fair
Market Value of the share of Common Stock on the date of payment), and the Committee may provide for an offset to any future payments owed by the Company or any Subsidiary to the Participant or former Participant if necessary to satisfy the
repayment obligation. The determination of whether a Participant or former Participant has engaged in a serious breach of conduct or any activity in competition with any of the businesses of the Company or any Subsidiary shall be determined by the
Committee in good faith and in its sole discretion. 
 14. Withholding. Upon (a) disposition of shares of Common Stock acquired
pursuant to the exercise of an Incentive Stock Option granted pursuant to the Plan within two years of the grant of the Incentive Stock Option or within one year after exercise of the Incentive Stock Option, or (b) exercise of a Nonqualified
Stock Option (or an Incentive Stock Option treated as a Nonqualified Stock Option), exercise of a stock appreciation right or the vesting or payment of any other Award under the Plan, or (c) under any other circumstances determined by the
Committee in its sole discretion, the Company shall have the right to require any Participant, and such Participant by accepting the Awards granted under the Plan agrees, to pay to the Company the amount of any taxes which the Company shall be
required to withhold with respect thereto. In the event of clauses (a), (b) or (c), with the consent of the Committee, at the Committee’s sole discretion, such Participant may elect to pay to the Company an amount equal to the amount of
the taxes that the Company shall be required to withhold by delivering to the Company shares of Common Stock having a Fair Market Value equal to the amount of the 

  

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withholding tax obligation as determined by the Company; provided, however, that no shares of Common Stock are withheld with a value exceeding
the minimum amount of tax required to be withheld by law. Such shares so delivered to satisfy the minimum withholding obligation may be either shares withheld by the Company upon the exercise of the Option or other shares. At the Committee’s
sole discretion, a Participant may elect to have additional taxes withheld and satisfy such withholding with cash or shares of Common Stock held for at least six (6) months prior to exercise, if, in the opinion of the Company’s outside
accountants, doing so would not result in a charge against earnings. 
 15. Nontransferability, Beneficiaries. Unless otherwise
determined by the Committee with respect to the transferability of Nonqualified Stock Options by a Participant to his Immediate Family Members (or to trusts or partnerships or limited liability companies established for such family members), no
Award shall be assignable or transferable by the Participant, otherwise than by will or the laws of descent and distribution or pursuant to a beneficiary designation, and Options shall be exercisable, during the Participant’s lifetime, only by
the Participant (or by the Participant’s legal representatives in the event of the Participant’s incapacity). Each Participant may designate a beneficiary to exercise any Option held by the Participant at the time of the Participant’s
death or to be assigned any other Award outstanding at the time of the Participant’s death. If no beneficiary has been named by a deceased Participant, any Award held by the Participant at the time of death shall be transferred as provided in
the Participant’s will or by the laws of descent and distribution. Except in the case of the holder’s incapacity, an Option may only be exercised by the holder thereof. 
 16. No Right to Continuous Service. Nothing contained in the Plan or in any Award under the Plan shall confer upon any Participant any right with
respect to the continuation of service with the Company or any of its Subsidiaries, or interfere in any way with the right of the Company or its Subsidiaries to terminate his or her Continuous Service at any time. Nothing contained in the Plan shall
confer upon any Participant or other person any claim or right to any Award under the Plan. 
 17. Governmental Compliance. Each Award
under the Plan shall be subject to the requirement that if at any time the Committee shall determine that the listing, registration or qualification of any shares issuable or deliverable thereunder upon any securities exchange or under any Federal
or state law, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition thereof, or in connection therewith, no such grant or award may be exercised or shares issued or delivered unless such listing,
registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee. 
 18. Adjustments; Corporate Events. In the event of any equity restructuring (within the meaning of Statement of Financial Accounting Standards No. 123 (revised 2004), referred to as “FAS 123R”) that causes the per
share value of Common Stock to change, such as a stock dividend or stock split, the Committee shall cause there to be made an equitable adjustment to the number and kind of shares or other securities issued or reserved for issuance pursuant to this
Plan and to outstanding Awards (including but not limited to the number and kind of shares to which such Awards are subject, and the exercise or strike price of such Awards) to the extent such other Awards would not otherwise automatically adjust in
the equity restructuring; provided, in each case, that with respect to Incentive Stock Options, no such adjustment shall be authorized to the extent that such adjustment would cause such Incentive Stock Options to violate Section 422(b) of the
Code or any successor provision; provided further, that no such adjustment shall be authorized under this Section to the extent that such adjustment would cause an Award to be subject to adverse tax consequences under Section 409A of the
Code. In the event of any other change in corporate capitalization, which may include a merger, consolidation, any reorganization (whether or not such reorganization comes within the definition of such term in Section 368 of the Code), or
any partial or complete liquidation of the Company to the extent such events do not constitute equity restructurings or business combinations within the meaning of FAS No. 123R, such equitable adjustments described in the foregoing sentence may
be made as determined to be appropriate and equitable by the Committee to prevent dilution or enlargement of rights. In either case, any such adjustment shall be conclusive and binding for all purposes of the plan. Unless otherwise
determined by the Committee, the number of shares subject to an Award shall always be a whole number. 
  

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 (a) Upon the occurrence of a corporate event in which outstanding Awards are not to be
assumed or otherwise continued following such an event, the Committee may, in its discretion, terminate any outstanding Award without a Participant’s consent and (i) provide for either the purchase of any such Award for an amount of cash
equal to the amount that could have been attained upon the exercise of such Award or realization of the Participant’s rights had such Award been currently exercisable or payable or fully vested or the replacement of such Award with other rights
or property selected by the Committee in its sole discretion and/or (ii) provide that such Award shall be exercisable (whether or not vested) as to all shares covered thereby for at least thirty (30) days prior to such event. 

(b) The existence of the Plan, the Award agreement and the Awards granted hereunder shall not affect or restrict in any way the right
or power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, any merger or consolidation of the Company, any
issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the Common Stock or the rights thereof or which are convertible into or
exchangeable for Common Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

19. Award Agreement. Each Award under the Plan shall be evidenced by an agreement setting forth the terms and conditions, as determined by the
Committee, which shall apply to such Award, in addition to the terms and conditions specified in the Plan. 
 20. Amendment. The Board
may amend, suspend or terminate the Plan or any portion thereof at any time, provided that (a) no amendment shall be made without stockholder approval if such approval is necessary to comply with any applicable law, regulation or stock exchange
rule and (b) except as provided in Section 18, no amendment shall be made that would adversely affect the rights of a Participant under an Award theretofore granted, without such Participant’s written consent. Except as provided in
Section 18, no Option or Stock Appreciation Right granted under the Plan may be amended to decrease the exercise price thereof, or be cancelled in conjunction with the grant of any new Option or Stock Appreciation Right with a lower exercise
price, or otherwise be subject to any action that would be treated under accounting rules or otherwise as a “repricing” of such Option or Stock Appreciation Right, unless such action is approved by the Company’s stockholders.

 21. General Provisions. 
 (a) The Committee may require each Participant purchasing or acquiring shares pursuant to an Award under the Plan to represent to and agree with the Company in writing that such Participant is acquiring the shares for
investment and without a view to distribution thereof. 
 (b) All certificates for Common Stock delivered under the Plan
pursuant to any Award shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon
which the Common Stock is then listed, and any applicable Federal or state securities law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. If the Committee
determines that the issuance of Common Stock hereunder is not in compliance with, or subject to an exemption from, any applicable Federal or state securities laws, such shares shall not be issued until such time as the Committee determines that the
issuance is permissible. 
 (c) It is the intent of the Company that the Plan satisfy, and be interpreted in a manner that
satisfies, the applicable requirements of Rule 16b-3 as promulgated under Section 16 of the Exchange Act so that Participants will be entitled to the benefit of Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange
Act, and will not be subject to short-swing liability under Section 16 of the Exchange Act. Accordingly, if the operation of any provision of the Plan would conflict with the intent expressed in this 

  

 11 

 
Section 21(c), such provision to the extent possible shall be interpreted and/or deemed amended so as to avoid such conflict. 
 (d) Except as otherwise provided by the Committee in the applicable grant or Award agreement, a Participant shall have no rights as a
stockholder with respect to any shares of Common Stocks subject to an Award until a certificate or certificates evidencing shares of Common Stock shall have been issued to the Participant and, subject to Section 18, no adjustment shall be made
for dividends or distributions or other rights in respect of any share for which the record date is prior to the date on which Participant shall become the holder of record thereof. 
 (e) The law of the State of Delaware shall apply to all Awards and interpretations under the Plan regardless of the effect of such
state’s conflict of laws principles. 
 (f) Where the context requires, words in any gender shall include any other
gender. 
 (g) Headings of Sections are inserted for convenience and reference; they do not constitute any part of this Plan.

 (h) The Committee shall have the power to accelerate the time at which an Award shall be exercisable or vest
notwithstanding the terms of any Award agreement. 
 (i) No payment pursuant to the Plan shall be taken into account in
determining any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary except to the extent otherwise expressly provided in writing in such other plan or
an agreement thereunder. 
 (j) The expenses of administering the Plan shall be borne by the Company and its Subsidiaries.

 (k) No fractional shares of Common Stock shall be issued and the Committee shall determine, in its discretion, whether cash
shall be given in lieu of fractional shares or whether such fractional shares shall be eliminated by rounding up or down as appropriate. 
 (l) The Plan is intended to be an “unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award
agreement shall give the Participant any rights that are greater than those of a general creditor of the Company or any Subsidiary. 
 22. Expiration of the Plan. Subject to earlier termination pursuant to Section 20, no Award may be granted following the ten (10) year anniversary of the Effective Date and except with respect to outstanding Awards,
this Plan shall terminate. 
 23. Effective Date; Approval of Stockholders. The Plan is effective as of the date it is
approved by the affirmative vote of the holders of a majority of the securities of the Company present, or represented, and entitled to vote at a meeting of stockholders duly held in accordance with the applicable laws of the State of Delaware (the
“Effective Date”). Unless the Company determines to submit Section 9 of the Plan and the definition of Performance Goal to the Company’s stockholders at the first stockholder meeting that occurs in the fifth year following the
year in which the Plan was last approved by stockholders (or any earlier meeting designated by the Board), in accordance with the requirements of Section 162(m) of the Code, and such stockholder approval is obtained, then no further performance
shares shall be made to Covered Employees under Section 9 after the date of such annual meeting, but the remainder of the Plan shall continue in effect. 
  

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