Equity Compensation Deferrals—Deferred equity compensation shall be converted into RSUs representing DIRECTV common stock. The use of units is for recordkeeping purposes. Deferred equity compensation shall not be diversified into other hypothetical investments and only shares of DIRECTV stock shall be paid from the deferred equity compensation.
Stock-Based Deferral Alternative—Cash compensation deferred under this alternative will be converted into RSUs representing DIRECTV common stock at the closing market price of such stock on the date of contribution. The use of units is for recordkeeping purposes; only cash and not shares shall be paid from this alternative.
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