iHeartMedia 2010 Annual Report Download - page 177

Download and view the complete annual report

Please find page 177 of the 2010 iHeartMedia annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 191

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191

Exhibit 10.44
EXECUTIVE OPTION AGREEMENT
Optionee: Rob Walls
This Option and any securities issued upon exercise of this Option are subject to restrictions on transfer and requirements of
sale and other provisions as set forth below.
CC MEDIA HOLDINGS, INC.
NON-QUALIFIED STOCK OPTION AGREEMENT
This stock option (the “Option”) is granted by CC Media Holdings, Inc., a Delaware corporation (the “Company”), to the
Optionee, pursuant to the Company’s 2008 Executive Incentive Plan (as amended from time to time, the “Plan”). For the purpose of
this Executive Option Agreement (the “Agreement”), the “Grant Date” shall mean December 31, 2010.
1. Grant of Option. The Agreement evidences the grant by the Company on the Grant Date to the Optionee of an option to
purchase, in whole or in part, on the terms provided herein and in the Plan, 100,000 shares of Class A Common Stock, par value
$.001 per share (the “Shares”) from the Company at the price per share of $10.
The Option evidenced by this Agreement is not intended to qualify as an incentive stock option under Section 422 of the Code.
2. Vesting.
(a) During Employment. During the Optionee’s Employment, this Option shall vest and become exercisable with respect to
25% of the Option on each of the first, second, third and fourth anniversaries of the Grant Date.
(b) Change of Control. Notwithstanding any other provision of this Section 2, in the event of a Change of Control, 100% of
the then outstanding and unvested Option shall vest and become exercisable in full.
(c) Termination of Employment. Notwithstanding any other provision of this Section 2, automatically and immediately
upon the cessation of Employment, the then outstanding and unvested portion of the Option shall terminate.
Notwithstanding the foregoing (but subject to any contrary provision of this Agreement or any other written agreement between the
Company and the Optionee with respect to vesting and termination of Awards granted under the Plan), no Options shall vest or shall
become eligible to vest on any date specified above unless the Optionee is then, and since the Grant Date has continuously been, an
Employee.
1