The term isn't very precise, but is generally taken to mean "promised future compensation". The 90-day rule for exercising illiquid options absolutely is one fo

The term isn't very precise, but is generally taken to mean "promised future compensation". The 90-day rule for exercising illiquid options absolutely is one form of promised future compensation, but so are future options clearly in the money, or even highly-appreciated real shares about to vest. So he isn't misusing the definition, just using the broadest possible sense of the term.