Nature of SARs Sample Clauses

Nature of SARs. The SARs provide to the Participant a right to receive, upon exercise of vested SARs in compliance with this Agreement, payment in shares of Stock. The number of shares of Stock that shall be delivered to the Participant upon a valid exercise of the SARs, before any reduction for withholding taxes in accordance with Section 5, shall be determined by multiplying (i) times (ii) and dividing the resulting product by (iii), where:
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Nature of SARs. An SAR entitles the Participant to receive, with respect to each Share as to which the SAR is exercised, the excess of the Share’s Fair Market Value on the date of exercise over its Fair Market Value on the date the SAR was granted. Such excess shall be paid in Shares. Only full Shares shall be issued under the Plan, and any fractional Share that might otherwise be issuable upon exercise of an SAR granted hereunder shall be forfeited.
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Nature of SARs. A SAR is an Award entitling the recipient to receive Shares having a value equal to the excess of the Market Value of a Share on the date of exercise over the SAR Price (which price shall not be less than 100% of the Market Value of the Share on the date of grant) multiplied by the number of Shares with respect to which the SAR shall have been exercised. For the avoidance of doubt, no Dividend Equivalents shall be granted in connection with a SAR.
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Nature of SARs. The parties hereto acknowledge that the SAR Credits and SARs granted hereunder are contractual in nature and do not constitute securities but rather constitute only contractual obligations of the Corporation to pay Management Members certain compensation measured by the value of a security equivalent and that Management Members shall not be entitled to any rights of a stockholder of the Corporation under Delaware law or otherwise with respect to the SAR Credits and SARs.
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Nature of SARs. The SARs awarded pursuant to this Agreement shall be used solely as a device for the measurement and determination of the dollar amount to be paid to the Grantee as provided herein. SARs shall not constitute or be treated as property or as a trust fund of any kind or as stock, stock options or any other form of equity security. The Grantee shall have only those rights set forth in this Agreement with respect to SARs awarded to him and shall have no rights as a shareholder of the Company or SS/L by virtue of having been granted SARs.
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Related to Nature of SARs

  • Nature of Award In accepting the award, Employee acknowledges that:

  • NATURE OF OPTION The Option is not intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, as amended, relating to “incentive stock options”.

  • Nature of Grant In accepting the grant, the Participant acknowledges, understands and agrees that:

  • Nature of Services Executive shall diligently perform such duties and assume such responsibilities as shall from time to time be specified by the Company.

  • Nature of Scheme The Company specifically intends that the Plan will not be an occupational retirement scheme for purposes of the Occupational Retirement Schemes Ordinance. HUNGARY

  • Nature of the Award In accepting the Award, you acknowledge, understand and agree that:

  • Nature of Agreement You understand and agree that this letter agreement is a severance agreement and does not constitute an admission of liability or wrongdoing on the part of the Company.

  • Discretionary Nature of Plan The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Option in this Agreement does not create any contractual right or other right to receive any Options or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant’s employment with the Company.

  • Forfeiture of Awards The Restricted Stock Units granted hereunder (and gains earned or accrued in connection therewith) shall be subject to such generally applicable policies as to forfeiture and recoupment (including, without limitation, upon the occurrence of material financial or accounting errors, financial or other misconduct or Competitive Activity) as may be adopted by the Administrator or the Board from time to time and communicated to the Employee or as required by applicable law, and are otherwise subject to forfeiture or disgorgement of profits as provided by the Plan.

  • Nature of the Option This Option is intended to be a nonstatutory stock option and is not intended to be an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"), or to otherwise qualify for any special tax benefits to the Optionee.

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