Common use of Rights Related to Options Clause in Contracts

Rights Related to Options. A UAR granted pursuant to an Option shall entitle a Participant, upon exercise, to surrender that Option or any portion thereof, to the extent unexercised, and to receive payment of an amount computed pursuant to Section 8.3(b). That Option shall then cease to be exercisable to the extent surrendered. UARs granted in connection with an Option shall be subject to the terms of the Award Agreement governing the Option, which shall comply with the following provisions in addition to those applicable to Options: (a) A UAR granted in connection with an Option shall be exercisable only at such time or times and only to the extent that the related Option is exercisable and shall not be transferable except to the extent that the related Option is transferable. (b) Upon the exercise of a UAR related to an Option, a Participant shall be entitled to receive payment from the Company of an amount determined by multiplying: (1) the difference obtained by subtracting the exercise price with respect to a Unit specified in the related Option from the Fair Market Value of a Unit on the date of exercise of the UAR, by (2) the number of Units as to which that UAR has been exercised.

Rights Related to Options. A UAR An SAR granted pursuant to an Option shall entitle a Participant, upon exercise, to surrender that Option or any portion thereof, to the extent unexercised, and to receive payment of an amount computed pursuant to Section 8.3(b6(c)(ii)(B). That Option shall then cease to be exercisable to the extent surrendered. UARs SARs granted in connection with an Option shall be subject to the terms of the Award Agreement agreement governing the Option, which shall comply with the following provisions in addition to those applicable to Options: (aA) A UAR An SAR granted in connection with an Option shall be exercisable only at such time or times and only to the extent that the related Option is exercisable and shall not be transferable except to the extent that the related Option is transferable. (bB) Upon the exercise of a UAR an SAR related to an Option, a Participant shall be entitled to receive payment from the Company of an amount determined by multiplying: : (1) the difference obtained by subtracting the exercise price Exercise Price with respect to a Unit share of Stock specified in the related Option from the Fair Market Value of a Unit share of Stock on the date of exercise of the UARSAR, by by (2) the number of Units shares as to which that UAR SAR has been exercised.