Common use of Grant of Stock Appreciation Rights Clause in Contracts

Grant of Stock Appreciation Rights. Subject to the terms and conditions herein and in tandem with the Series A Stock Option, the Grantee shall also have, during the Option Term, subject to earlier termination as provided in paragraphs 9 and 13(b) below, a stock appreciation right with respect to each Series A Stock Option Share (individually, a "Series A Stock Tandem SAR" and collectively, the "Series A Stock Tandem SARs"). Upon exercise of a Series A Stock Tandem SAR in accordance with this Agreement, the Company shall, subject to paragraph 7 below, make payment as follows: (a) the amount of payment shall equal the amount by which the Fair Market Value of the Series A Stock Option Share on the date of exercise of the Series A Stock Tandem SAR exceeds the Series A Stock Option Price; and (b) payment of the amount determined in accordance with clause (a) shall be made, in the sole discretion of the Board, in shares of Series A Stock (valued at their Fair Market Value as of the date of exercise of such Series A Stock Tandem SAR), in cash, or partly in cash and partly in shares of Series A Stock.

Grant of Stock Appreciation Rights. Subject to the terms and conditions herein and in tandem with the Series A Stock Option, the Grantee shall also have, during the Option Term, subject to earlier termination as provided in paragraphs 9 8 and 13(b12(b) below, a stock appreciation right with respect to each Series A Stock Option Share (individually, a "Series A Stock Tandem SAR" and collectively, the "Series A Stock Tandem SARs"). Upon exercise of a Series A Stock Tandem SAR in accordance with this Agreement, the Company shall, subject to paragraph 7 6 below, make payment as follows: (a) the amount of payment shall equal the amount by which the Fair Market Value of the Series A Stock Option Share on the date of exercise of the Series A Stock Tandem SAR exceeds the Series A Stock Option Price; and (b) payment of the amount determined in accordance with clause (a) shall be made, made in the sole discretion of the Board, Committee in shares of Series A Stock (valued at their Fair Market Value as of the date of exercise of such Series A Stock Tandem SAR), in cash, or partly in cash and partly in shares of Series A Stock.