Exercise of Stock Appreciation Rights. SARs as to which the Employee is vested, which have become exercisable, and which have not terminated may be exercised by delivery to the Secretary of ALC of a written or electronic notice, complying with the applicable procedures established by the Committee or ALC, stating the whole number of SARs that are thereby exercised. Upon exercise, ALC shall deliver to Employee or Employee’s legal representative, at the absolute discretion of the Committee, either (i) the number of Shares (rounded down to the nearest whole Share) (the “Number of Equivalent Shares”) equal to (x) (A) the excess, if any, of the Fair Market Value per Share on the exercise date over the Exercise Price per Share of the SAR, multiplied by (B) the number of SARs being exercised pursuant to such notice, divided by (y) the Fair Market Value per Share on the exercise date, (ii) cash equal to the Fair Market Value per Share on the exercise date multiplied by the Number of Equivalent Shares, or (iii) any combination of cash and Shares with an aggregate value equal to the Fair Market Value per Share on the exercise date multiplied by the Number of Equivalent Shares.
Exercise of Stock Appreciation Rights. Only a Participant may exercise a Stock Appreciation Right, and the Participant may exercise a Stock Appreciation Right only on or after the date on which the Stock Appreciation Right vests, as provided in Section 8(e), below, and only on or before the date on which the Stock Appreciation Right expires, as provided in Section 8(f) below.
Exercise of Stock Appreciation Rights. (a) A Stock Appreciation Right granted concurrently with an Option shall be exercisable only at such time or times, and to the extent, that the related Option shall be exercisable and only when the Fair Market Value of the stock subject to the related Option exceeds the exercise price of the related Option.
Exercise of Stock Appreciation Rights. The holder of a stock appreciation right may exercise the same by (1) filing with the Secretary of the Company a written election specifying the stock appreciation rights or portion thereof to be exercised and (2) surrendering such stock appreciation rights for cancellation or partial cancellation, as the case may be. The stock appreciation right shall be deemed to have been exercised on the date on which the holder completed all acts required of him by this paragraph to exercise the stock appreciation right.
Exercise of Stock Appreciation Rights. These Stock Appreciation Rights are exercisable by delivery of an exercise notice, in the form attached as Exhibit A (the “Exercise Notice”), which shall state the election to exercise the Stock Appreciation Rights and the number of Shares in respect of which the Stock Appreciation Rights are being exercised (the “Exercised Shares”). The Exercise Notice shall be signed by the Awardee and shall be delivered in person, by certified mail or electronically to the Stock Plan Administrator and Compensation Committee of the Bank. These Stock Appreciation Rights shall be deemed to be exercised upon receipt by the Bank of such fully-executed Exercise Notice. Upon exercising the Stock Appreciation Rights, the Awardee shall receive from the Bank, for each SAR exercised, the difference between the fair market value of the shares at Date of Grant (as set forth in the Notice of Award) versus the fair market value of the shares at Date of Exercise. The Bank’s obligation arising upon the exercise of these Stock Appreciation Rights shall be to pay 100% in stock net of any amounts required to satisfy the Bank’s withholding obligations, if any.
Exercise of Stock Appreciation Rights. Effective as of today, , 20___, the undersigned (“Awardee”) hereby elects to exercise SARs under and pursuant to the FIDELITY BANK 2012 OMNIBUS STOCK INCENTIVE PLAN (the “Plan”) and the Stock Appreciation Rights Award Agreement dated , 20___(the Stock Appreciation Rights “ (SAR) Award Agreement”). Unless otherwise defined herein, the terms defined in the Plan and Award Agreement shall have the same defined meanings in this Exercise Notice.
Exercise of Stock Appreciation Rights. Vested SARs shall be exercised by the delivery of written notice to the Secretary of the Company setting forth the number of Vested SARs being exercised and the date on which such exercise is to be effective (“Exercise Date”). Upon the exercise of Vested SARs by the Employee in accordance with this SAR Agreement, the Company shall pay the Employee, within thirty (30) days of the Exercise Date, an amount equal to the product of (i) the number of Vested SARs exercised, multiplied by (ii) the Spread. Such payment will be made, in the Committee’s discretion, in (a) cash, (b) shares of Stock with a Fair Market Value equal to the amount of the payment, or (c) a combination of cash and shares of Stock.
Exercise of Stock Appreciation Rights. Effective as of today, , ___ (the “Exercise Date”), the undersigned (“Purchaser”) hereby elects to exercise stock appreciation rights (“SARs”) relating to shares of (the “Company”), from grant number under and pursuant to the 2004 Omnibus Long-Term Incentive Plan (the “Plan”) and the SAR agreement dated , 200___ (the “SAR Agreement”). The exercise price for the SARs is $ .___ per share.
Exercise of Stock Appreciation Rights. (a) EXERCISABILITY. Unless the Award Agreement or the Committee otherwise provides, a SAR shall be exercisable at such time or times, and to the extent, that the related Option shall be exercisable and only when the Fair Market Value of the stock subject to the related Option exceeds the Option price of the related Option.
Exercise of Stock Appreciation Rights. Upon exercise, Stock Appreciation Rights may be redeemed for cash or Shares or a combination of cash and Shares, in the discretion of the Committee, and as described in the Award Agreement. Cash payments shall be equal to the excess of the Fair Market Value of a Share on the date of exercise over the Exercise Price, for each Share for which a Stock Appreciation Right was exercised. If the Stock Appreciation Right is redeemed for Shares, the Participant shall receive a number of whole Shares equal to the quotient of the cash payment amount divided by the Fair Market Value of a Share on the date of exercise.
