Ability to Substitute. The Management Compensation Committee shall have the ability to substitute, without receiving participant permission, Stock Appreciation Rights (SARs) paid only in stock for outstanding options; provided, that the number of substituted SARs equals the number of shares underlying the options and the Exercise Price of the SARs is equal to the Exercise Price of the options.
Appears in 6 contracts
Samples: Non Qualified Stock Option Award Agreement (Chevron Corp), Non Qualified Stock Option Award Agreement (Chevron Corp), Non Qualified Stock Option Award Agreement (Chevron Corp)
