Common use of Equity Incentive Award Clause in Contracts

Equity Incentive Award. At or promptly following the Effective Time, the Company will grant Executive an equity incentive award pursuant to a new equity incentive plan substantially in the form of the draft Clear Channel Capital III, Inc. 2007 Equity Incentive Plan attached hereto as Exhibit A and related restricted stock and stock option award agreements in substantially the forms attached hereto as Exhibits B and C, respectively. Executive shall not be eligible to receive any stock options, restricted stock or other equity of the Company or Holdings, whether under an equity incentive plan or otherwise, except as expressly provided for in this Agreement or as expressly authorized for him individually by the Board of Holdings.

Equity Incentive Award. At or promptly following the Effective Time, the Company will grant Executive an equity incentive award pursuant to a new equity incentive plan substantially in the form of the draft Clear Channel Capital III, Inc. 2007 Equity 2008 Executive Incentive Plan attached hereto as Exhibit A and related restricted stock and stock option award agreements in substantially the forms attached hereto as Exhibits B and C, respectively. Executive shall not be eligible to receive any stock options, restricted stock or other equity of the Company or Holdings, whether under an equity incentive plan or otherwise, except as expressly provided for in this Agreement or as expressly authorized for him individually by the Board of Holdings.

Equity Incentive Award. At or promptly following the Effective Time, the Company will grant Executive an equity incentive award pursuant to a new equity incentive plan in substantially in the form of the draft Clear Channel Capital III, Inc. 2007 Equity 2008 Executive Incentive Plan attached hereto as Exhibit A and related restricted stock and stock option award agreements in substantially the forms attached hereto as Exhibits B and C, respectively. Executive shall not be eligible to receive any stock options, restricted stock or other equity of the Company or Holdings, whether under an equity incentive plan or otherwise, except as expressly provided for in this Agreement or as expressly authorized for him individually by the Board of Holdings.