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. 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. (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.
(b) In the event that a Stock Appreciation Right granted concurrently with an Option is exercised, the number of shares of Common Stock subject to the related Option shall be charged against the maximum amount of Common Stock that may be issued or transferred pursuant to Awards under this Plan. The number of shares subject to the Stock Appreciation Right and the related Option of the Participant shall be reduced by such number of shares.
(c) If a Stock Appreciation Right granted concurrently with an Option extends to less than all the shares covered by the related Option and if a portion of the related Option is thereafter exercised, the number of shares subject to the unexercised Stock Appreciation Right shall be reduced only if and to the extent that the remaining number of shares covered by such related Option is less than the remaining number of shares subject to such Stock Appreciation Right. The number of shares subject to unexercised Stock Appreciation Rights may also be reduced proportionately.
(d) A Stock Appreciation Right granted independently of any Option shall be exercisable pursuant to the terms of the Award Agreement with respect to such Stock Appreciation Right.
(e) In order to achieve the Plan's objective of encouraging ownership of the Common Stock, the Committee may require that Stock Appreciation Rights can only be exercised if the Participant uses all or a portion of any cash received upon exercise of the Stock Appreciation Right to concurrently exercise all or a portion of the Option the Participant holds.
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. 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, , ___ (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. Subject to the earlier expiration of the Award as herein provided, the Award may be exercised by written notice to the Company at its principal executive office addressed to the attention of its Corporate Secretary (or such other officer or employee of the Company as the Company may designate from time to time), at any time and from time to time after the Date of Grant hereof, but, except as otherwise provided below, the Award shall not be exercised for more than a percentage of the aggregate number of Stock Appreciation Rights under this Award determined by the number of full years from the Date of Grant hereof to the date of such exercise, in accordance with the following schedule:
Exercise of Stock Appreciation Rights. (a) A Stock Appreciation Right 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.
(b) Notwithstanding any other provision of this Plan, the Committee may impose, by rule and in Award Agreements, such conditions upon a Stock Appreciation Right and the related Option and upon their exercise (including, without limitation, conditions limiting the time of exercise to specified periods) as may be required to satisfy applicable regulatory requirements, including, without limitation, Rule 16b-3 (or any successor rule) promulgated by the Securities and Exchange Commission pursuant to the Act.
(c) In the event that a Stock Appreciation Right is exercised, the number of shares of Common Stock subject to the related Option shall be charged against the maximum amount of Common Stock that may be issued or transferred pursuant to Awards under this Plan. The number of shares subject to the Stock Appreciation Right and related Option shall be reduced by such number of shares.
