What Is "Free Time"

When it comes to scheduling my “Free Time” as suggested on Monday Hour One, typically I think of anything that isn’t my work.
And one of the things I choose to do almost on a daily basis is exercise.
I don’t see it as a free time, but rather a task that I make myself do because I want the result it gives me.
Is that considered “Free Time” or is “Free Time” is time when nothing is scheduled?